The Psychology Behind Consumer Behavior

The Psychology Behind Consumer Behavior Theories Print The Psychology Behind Consumer Behavior By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 24, 2019 Betsie Van Der Meer / Getty Images More in Theories Behavioral Psychology Cognitive Psychology Developmental Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology Are you interested in why and how people buy some products and not others? Have you ever wondered how media messages influence a shoppers buying choices? If so, then you might be interested in the growing field known as consumer psychology. Consumer psychology is a specialty area that studies how our thoughts, beliefs, feelings, and perceptions influence how people buy and relate to goods and services.?? One formal definition of the field describes it as the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Consumer psychologists investigate how the decision-making process, social persuasion, and motivation influence why shoppers buy some things but not others. In this overview of the profession, learn more about what consumer psychologists do and where they work. The Science of Consumer Behavior According to the Society for Consumer Psychology, Division 23 of the American Psychological Association, consumer psychology employs theoretical psychological approaches to understanding consumers.?? This field is often considered a sub-specialty of industrial-organizational psychology and is also known as the psychology of consumer behavior or the psychology of marketing. Consumer psychologists study a variety of topics including:?? How consumers choose businesses, products, and servicesThe thought processes and emotions behind consumer decisionsHow environmental variables such as friends, family, media, and culture influence buying decisionsWhat motivates people to choose one product over anotherHow personal factors and individual differences affect peoples buying choicesWhat marketers can do to effectively reach out to their target customers What Do Industrial-Organizational Psychologists Do? What Consumer Psychologists Do So what exactly does a typical consumer psychologist do? These professionals play a critical role not only in helping businesses understand what their customers want and need but also in helping sellers promote and market their products and services to buyers.?? Conduct Market Research Because businesses need to understand their consumers in order to develop products and marketing campaigns that appeal to their target audience, consumer psychologists often spend a great deal of time learning more about what makes shoppers tick. This often involves first figuring out the target audience for a particular product including the gender, age, and socioeconomic status of the typical shopper.?? Next, the consumer psychologist might begin researching the types of products and marketing messages that appeal to these types of buyers. Develop Marketing Messages Other consumer psychologists might focus on social marketing, or how ideas and messages spread among groups. Researchers might be interested in getting out information about a product or an important public health message. Learning how beliefs and attitudes spread among groups can help organizations learn how to better get their message out and encourage word-of-mouth marketing. Research Consumer Attitudes and Behaviors Consumer psychologists often conduct research to learn more about buyer behavior. Common research methods used by these professionals include experiments, phone surveys, focus groups, direct observations, and questionnaires.?? Chances are good that you have participated in at least one market research survey in your life. These are often conducted by phone, but may also be done online or through direct mail. In a survey, consumers are often asked to describe their past shopping behavior, factors that influenced their decision-making, and their future buying plans. Researchers also typically gather details about each respondents sex, age, race, educational history, and current financial situation. This type of information can be very useful  since it allows researchers to look for patterns and learn more about who buys certain products.?? For example, using a survey might allow researchers to discover that women between the ages of 30 and 45 who have a household income between $50,000 to $100,000 are most likely to buy a particular product or service. By knowing this, they can then begin designing marketing campaigns aimed at this target audience. How Do Attitudes Form and Change? Education and Training Requirements So what kind of training do you need if you want to be a consumer psychologist? Most entry-level jobs in consumer psychology require at least a bachelors degree in psychology. Entry-level jobs with a bachelors degree typically involve planning, conducting, and interpreting the results of market research campaigns. Those interested in more advanced positions or in teaching at the university level will need a masters or doctorate degree in an area related to consumer psychology. Such degree options include general psychology, industrial-organizational psychology, marketing, and consumer studies.?? If you are interested in becoming a consumer psychologist: Focus on taking courses that will build your understanding of human behavior, marketing, social psychology, personality, and cultureTake courses in advertising and marketingTake courses in experimental methods, particularly experimental design and statistics Career Options The career path you ultimately choose will depend a great deal upon your interests and educational background. For example, if you have an interest in conducting theoretical research and teaching, consider earning a doctorate degree so that you can teach courses and perform original research at a university. If you prefer to work in an area like market research, advertising, or sales, a bachelors degree might be sufficient. Other job options include acting as a consultant for private businesses or working for government agencies. In such jobs, consumer psychologists might be asked to perform a wide range of duties including development marketing campaigns, researching buyer trends, designing social media advertising, or analyzing statistics.?? A Word From Verywell? Understanding what makes people buy the things they do is much more than a guessing game. Businesses now employ consumer psychologists to scientifically evaluate their customers decisions and choices. The next time you look at an advertisement or take a consumer survey, consider the role that consumer psychologists may have played in developing those messages and questionnaires. Career Options In Psychology

The Patriot Act is Detrimental to the Rights of American...

Over two hundred years ago, the founding fathers of this great nation signed their names to the Declaration of Independence, sending a message to Great Britain that they were tired of being subservient to a monarch who had no respect for his people. These extraordinary men understood the concept of liberty and embraced it with great passion. They were all too familiar with the consequences of a government with excess power. In order to prevent America from returning to the ways of Great Britain, they crafted one of the greatest documents ever written, the Constitution of the United States of America. Contained in the Constitution is the Bill of Rights which details the rights the citizens of the United States of America are guaranteed.†¦show more content†¦in Hulse). On October 23, 2001, Representative F. James Sensenbrenner from the ninth district of Wisconsin introduced the USA PATRIOT Act of 2001 to Congress (â€Å"Bill†). The bill contained many surveillance provi sions that the Justice Department had submitted to Congress in the past (â€Å"Seeking†). The Bush administration used this time to bully Congress into passing the USA PATRIOT Act. The administration insinuated that any future attacks were going to be blamed on members of Congress who stood against the bill (â€Å"Surveillance†).Unfortunately, many members of Congress panicked under the pressure of the circumstances and voted in favor of this unconstitutional bill. Despite the facts that the act had minimal discussion or debate and contained many provisions that attacked the rights of citizens, the complex, 342 page bill passed with a vote of ninety-eight to one in the Senate and 356 to sixty-six in the House of Representatives (Cornehls 78). On October 26, 2001, just forty-five days after the terrorist attacks of September 11th, the USA PATRIOT Act of 2001 became Public Law Number 107-56 with the signature of former President George W. Bush (â€Å"Bill†). The i dea that forty-five days was long enough to analyze the bill itself and the reasons behind the success of the terrorist attacks on September 11 is problematic. The Bush Administration and Congress â€Å"†¦acted without any careful or systemic effort to determine whether weaknesses in ourShow MoreRelatedPros And Cons Of The Patriot Act1354 Words   |  6 PagesTerrorism Act (USA PATRIOT Act) is one of the most controversial pieces of legislation to ever pass through the US Senate. Its critics use fear mongering tactics to scare people into opposition of an intrusive police state which they believe is inevitable given the government’s new powers. They consider the Act an assault on civil liberties and an invasion of the privacy of innocent American citizens. 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The Healthy Potion Business Has Been Operating For 10 Years

The Healthy Potion business has been operating for 10 years. The current owner generated $500,000 surplus funds and opened 5 additional stores in Australia Shopping Malls. Previously, they sold unique beverages containing Chinese herb. The business is built on health benefits. Even though sales revenue increased, the number of repeated customers dropped from 70% to 40%. The owner believes that adding the herb to fresh juices may be a new selling point, and she wants to expand the business in this way. I will use a rational approach in my report to advise her on strategies for growth. This consists of three stages: Analysis, Formulation, and Implementation. In the first stage, I will use SWOT analysis to examine internal†¦show more content†¦A company reported that the cost of producing in China is nearly free due to the benefits they received. Another strength is HP takes advantage of economies of scale- decreasing cost over output. HP have 6 operating stores, (Good and Kah n n.d.) suggests firms that produce high levels of outputs will have low costs as there are less fixed costs per unit. HP further benefits from purchasing economies of scale is where they are buying big bulks of supply and receives discounts which lower their cost of production than smaller firms. Offshoring business in China can also create a major weakness due the loose laws and regulations. Looking at the case of Apple, who outsources its business to Foxconn. Apple gives frequent pressure Foxconn to lower profit margins while demanding for the high workload. Foxconn response by reducing labour expenditures, by cutting wages and benefits. Due to a compulsory national minimum wage, wages are cut by forcing workers to work overtime. (Interview 2011 cited in Chan, Pun and Selden 2013, pp. 104-110). Chan, Pun and Selden (2013) suggest the outcome of this resulted in frequent cases of worker’s suicide, worker’s strike and labour exploitation. Therefore, high supervision costs need to be enforced to avoid similar incidences. Apple suffered from severe damage to corporate reputation, brand image and further it could even decrease

Empowering Community at Grassroorts Free Essays

We had 16 youth representatives from Nepal, Bangladesh, Sir Lankan and India. (Unfortunately, Pakistan Participants were not given visa, though the clearance from the Ministry was given. Secretariat has already sent the protest note to the all concerned. We will write a custom essay sample on Empowering Community at Grassroorts or any similar topic only for you Order Now ) This workshop took place as a part of Core Group new mission statement. For this workshop, we brought together youth of South Asia who are willing to work as community facilitators at the grassroots. The workshop main Contents were: SAP Perspective on Globalization Conflict and Conflict Transformation Non-violent process Cycle of Violence/Breaking the cycle of violence Case study discussion : Role of teacher, student and parent Consensus building demonstrative exercise Community Facilitation process Role of facilitator Participatory process Prepare two day workshop and prepare one sample activity sheet Prepare One year plan Globalization: Introducing the theme Regional brought the SAP perspective: need for SAP mission, SAP mission in the context of globalization. Role of youth in it. He explained in simple language the character of the present globalization. Normalization, Prevarication and Mechanization. Each one of them was picked up with example and also small role lays, how this three are playing havoc with the lives of people. Mr.. Rammers built on the perspective on globalization further with the group by undertaking group exercise and examples. Linking further with Globalization and conflict. Looking deeply into globalization and its impact on the daily lives and also its national and International dimension. He moved from conflict to conflict transformation process. Rammers presented detail analysis and made participants understand through group exercises. The role of Democratic Globalizes in challenging the process and model of development and how one can go about it in tackling the issues. Consensus building demonstrative exercise Living in pluralistic society and participation of community in the decision making process is important. Nobody should feel left out. Working with the community and arriving at a decision is a difficult process. It takes time and requires patience. There are many ways to make decision, if you want to work in groups. Voting, raising hands have limitation and creates problem. Majority and minority decision making leaves out people dissatisfied. Giving equal share, keeping people together, helping group to grow. It is about the value, democratic view. Why it is preferable, as it helps n taking people along with you. Group Exercise: RSI. 50 from each person was collected from the group (Total RSI. 850). The group was given the task that they need to arrive at a decision â€Å"collectively’ how the amount needs to be spent. Everyone needs to agree with it and there is should be Consensus. What are things they need to do for facilitating? Aware in using words Listening attentively Respect for each other. Everyone (Cooperates) help to facilitate Reminding the group to be focused : About the Time and goal Follow the process To be aware of actions when we facilitate Reminding and summering the agreements Justifying the one opinion and giving reasons for opposing Avoid distraction or deviating from the Goal Lesson learnt Facilitator listens and needs to interpret properly Combination of ideas and Linking Collective ideas for our goal It requires lots of team work Respecting one another Facilitator to know-What and How Rules and regulations(No exceptions) Cooperation (We should know how to work in groups) Cycle of Violence Typography focused on the Non-violent process. Taking Journey by making effort to make group understand the Violence, the Cycle of Violence and how to break the cycle of violence. Typography also made group work on the case study. Where student in a school had a problem with the teacher. The group then divided into three groups: Parents, teachers, Students and came out with different perceptions that each stakeholder had. Gandhi thought is revolutionary Mr.. Alabamian, known as born atheist. Influenced by Gandhi values and he has been practicing nonviolence. He came all the way from Piscataway to share his knowledge and wisdom to the youth. He gave a Historical perspective of nonviolence movement in India and how Gandhi embroiled the people by feeling pulse of the national Gandhi thought is revolutionary. Gandhi was traditional, was a visionary and revolutionary personality. A rare combination. He carried the traditional wisdom, had vision and courage to act on it. The activism inside him made Gandhi a revolutionary personality. He went on with saying that Human become enemy of nature and how the Globalization is creating conflicts. SAP PLANS Towards the end of the workshop. Typography said, muff need to continue to work what you are doing. We expect you to integrate the learning. They need to identify the specific area and community. Participants were given assignment of Preparing a model two day workshop for their areas. And out of all the activity planned for two days they pick up one activity and come out with One activity sheet. Narrating details of how that was to be done. All participants were also asked to prepare One year calendar plan of activities. Bangladesh 1 . Mr.. Mohammad and Mr.. Talked came from Bangladesh. Both male participants were shy in the beginning. Language was the problem as they knew only Bengali language. Mohammad was able to understand some English and communicate the other was not able to understand at all. 2. Participation Level: Can be said as fair. They plan to meet Anastasia and discuss with him. They also plan to interact with the community. They plan to organize programmed like games, cultural programmed etc. They will also organize programmer based on the learning from the workshop. Yearly chart of activities has been prepared by them. Sir Lankan 3. Ms. Kilogram and Mr.. Roman from Sir Lankan actively participated in the process. Both of them prepared separate plans and both seem to be clear about what they will do. Ms. Kilogram prepared chart having columns of Content) With whom(Target Group) What (support needed) 4. Mr.. Roman came up with â€Å"Building up a Non-violent community’s mini project proposal with project aground, Target group, Resources required, objectives and time line. Nepal 5. Mr.. Jaywalk and Ms. Klan both of them Jointly made a plan sheet which included org workshop, Radio programmer and having program on the human rights day. Both were active in the session 6. Mr.. Jaywalk came from Gate organization and is working in grassroots. Klan is with Antenna foundation. Both have showed the commitment. India 7. From India we had two Ms. Maya and Ms. Bin from attractant, Lax Ashram (Our co-coordinator Radar Bath place. 8. Ms. Maya was more vocal and shared experiences and raised questions. Bin was quiet but sensitive. She knew about the issues. Both made presentation in Hindi. They were married and working with community. 9. Ms. Sarnia and Vandal came Visitants network organization. Santa is young, enthusiastic and willingness to learn new things. She has field experience and is adventurous. 10. Vandal is matured, stable and good field workers. Good understanding capacity. Both were married and worked with the community. 11. Mr.. Kennedy is interesting young person from Maniple, North East, India. His recommendation came from HIM. Keen learner. Eager to facilitate. He has gone to the field of Est. Parish and was charged up with what he saw. His plan talked of exposure, helping the organization. He has good links with Nehru Yuba Kinder (Youth network of Goof India). His link organization will be HIM. 2. Mr.. Hammered represented HIM in the Workshop. â€Å"Culture of peace† is the programmer that he will be coordinating for HIM. He is enthusiastic learner. He also contributed his translation skills for the workshop. 13. Mr.. Regenerated was recommended by HIM. He is actively engaged with the community on the land and livelihood issues for several years. He had good interaction with Regional and is eager to be part of Jan Straight 2012. Susann is the organization and has developed good cadre in Andorra Pradesh. 14. Mr.. Sham is active youth workers. He is with â€Å"Peace Film Fest† which is traveling film festival reaching out to educate the community on the issue of Nonviolence, Justice and Peace. 15. Mr.. Dharma and Krishna came from South India. Danna is active worker in Thumbnail. He is too eager to take forward the learning to the field. It was good to have Krishna in the workshop. SAP has invested good amount of resources in building the capacity. He will be closely working with Bijou to coordinate SAP south India. Krishna has made plan for follow up and a yearly calendar prepared. Visa Barbarity April 18, 2011 How to cite Empowering Community at Grassroorts, Papers

Where Rainbows End Review Essay Example

Where Rainbows End Review Paper Essay on Where Rainbows End Reading this book, I received a tremendous, unforgettable pleasure. From the ease of language, imagery of the characters, which in the meantime I just kinship, from a very touching love story. This book the story of life-long novel in the sense letters. Fifty years they walked to his love. How many tragedies they have endured during this time! And if they were not together, they would not have survived. They have always supported each other in joy and in sorrow. But Earth exists not only for the two of them, there are people and circumstances. After high school, she was going to fly him to Boston. Fortunately they are not the limit. After all, their, friends since childhood, separated? !! Not allowed to graduate with one year! And now she is going to fly away to the meeting to his best friend towards happiness. BUT all of a sudden it turns out that she is pregnant! A girl of eighteen, who had just graduated from high school and having big plans for the future is now responsible for the life of another person. Yes, its hard to go through, but it is possible if you your dear friend Alex. Of course, he immediately flew to her to Ireland! After all, the father of the child did not want to help We will write a custom essay sample on Where Rainbows End Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Where Rainbows End Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Where Rainbows End Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer And so all my life nahoyadyas step away from happiness, they can not possibly reach it. Because the responsibility to other people. But I think, all these years, they were still happy because they never lost each other. Yes, he had a wife, her husband, but they have always been close, and lived with his friendship and love. These feelings have always given them strength. They understood each other without words. Once they felt a magical silence, and I think its real happiness! This novel I liked its vitality. I witnessed the lives of two people in love. I literally live it with them. I sincerely worried for them, and rejoiced! The story of true love, true life, presented to us in the letters. And its very interesting! This book has caused me so many emotions, it is difficult to describe them on paper! To witness the lives of two people in love its amazing! When you read this book, all the episodes you appear in the pictures! It is very interesting! Imagine that you found a box of letters !!! It is interesting, is not it? I wonder talent Cecilia Ahern, imagine a lifetime in the correspondence! And thank her for the pleasure! Letters beloved, sister, brother, daughter, son, friend of these components is represented by the novel. I was very sorry when it ended! And now I write a review, remembering their lives, their letters! Alex and Rosie at this time, they have become my friends. As corny as it sounds, its true. The main heroine Rosie seemed a bit pessimistic, but it can be understood it got complicated alignment in life. Study, work, raise a daughter slowly approaching his dream, to the long-awaited magic silence After reading this book I realized once again that many truths:. Man proposes, but the fate of a a dream come true, we must believe in them and fight for them to finish and in every way , in life you have to be strong  » life pass not poly go, but how hard was no need to stay strong and true to yourself. As the saying goes, everything that does not kill you makes you stronger mnya » This book made a big impression on me. And I think not only me. Therefore I like to hear the opinions of others. About the novel and reviews. Sorry for emotion, tried to write honestly Thank you for your attention! I would be very happy to receive feedback!

SWOT Analysis of Ryanair Essay Example

SWOT Analysis of Ryanair Essay Example SWOT Analysis of Ryanair Essay SWOT Analysis of Ryanair Essay It further evaluates alternative solutions and provides recommendation, which will help the firm to compete and dominate in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. 1. INTRODUCTION Ryanair, set up in 1985 by the Ryan family with a share capital of just ? 1and 25 staffs has grown from a small airline flying a short hop from Waterford to London, into one of Europes largest carriers. It is Europe? s largest low-cost carrier and one of the world? largest and most successful airlines in terms of profits, number of flights and number of passengers flown. At present, Ryanair has 32 bases and 800+ low fare routes across 26 countries, connecting 146 destinations, employing a team of more than 6,000 people Michael O? Leary CEO of Ryanair was responsible for launching the first unique low fares, „no-frills? airlines in Europe. Michael O? Leary known for his aggressive management style, employed a flat management hierarchy and vigorously followed the low cost policy, on all fronts. Ryanair is also one of Europe? most controversial companies, praised and criticized in equal measure; praised for its commitment to low fares, radical management, and its willingness to challenge the „establishment? within the airline industry and criticized for its trade union policies, hidden taxes and fees, and limited customer services, and misleading advertising. Ryanair in order to make its stand in the competitive market they have to think of a business strategy to capture the targeted market through enhancing the company? s internal scarce re sources and capabilities. First part of the assignment states the critical analysis and evaluation of the key Issues in Ryanair focusing on Decision making, Planning, Organising and Controlling. Accordingly, problems challenges and opportunities have been identified through SWOT and PEST analysis. Alternative solutions have been evaluated in various forms one through the financial analysis of the company. The analysis and evaluations finally assist in prioritising recommendations for the future growth and welfare of the company. 2. Critical Analysis and evaluation of the Key Issues : Ryanair 2. Decision making The Ryanair culture gives us the indication that the company is solely depended on one person who is making the risky decision and putting everyone at stake. Ryanair CEO declared in 2003 that they shall swing from no frills airline to no fare airline but with the motive that the company introduced cost cutting and revenue generation modification to compensate the falls in the yields. The Ryanair? s CEO seems to be very dominating by making every decision of the company without involving the concerned departments. Ryanair has the concoction of Bounded rationality and intuition decision making, verdict were conceded in Ryanair mostly through intuition and overriding behavior of their CEO. According to (Robbins. S, Bergmen. R, Stagg. I, Coutler. M, 2006) â€Å"Intuition decision making is a subconscious process of making decisions on the basis of experience and accumulated judgment. † 2. 2 Planning Ryanair? s objective of â€Å" being the leading no frills airline in Europe† was achieved through a proper planning, concentrating on driving down costs to sustain low fares and remain profitable, even on low yields. Ryanair planned and implemented cost reduction strategies focusing on the following areas: Cost reduction Planning: 1. Fleet commonality 2. Contracting out services 3. Airport charges and route policy 4. Staff Cost and productivity 5. Marketing cost Other Planning Issues: In spite of the cost deduction planning, Ryanair also has designed other plans to maximize its profit and expand the market share of the company. On 1st February 2003, Ryanair announced that it was acquiring Buzz, the loss making budget subsidiary of KLM, based at Stansted. Ryanair purchased the loss making company Buzz, as it was a golden opportunity to pick up a ready- made bundle of take -off and landing slots at Stansted Airport, where there is intensifying competition for space. This would not only increase Ryanair? s share of slots in Stansted from 33 to 49. 5 per cent but also produce profit by the fiscal year end of March 2004. Ryanair also aimed to increase its sales through ancillary services in conjunction with its core airline business, because ancillary revenues would increasingly be used to subsidise falling airfares. The ancillary services -includes the availability of satellite television and internet services on flights, allowing passengers to watch their favorite television programmes. The company also undertook activities like sale of travel insurance, car rentals and many other advertisement activities. All in all, Ryanair had a good operational and long term planning. These plans were implemented carefully over the years to achieve its objective of â€Å" being the leading no frills airline in Europe† . The plans reduced the uncertainty of achieving the objective of the company, provided direction, minimized wastes and have set a standard for controlling. However, since the plan was designed by the top management of the company, it was very rigid and did not provide any space for the other stakeholders to provide intuition and creativity ideas for the business. 2. 3 Organising: According to Robbins et al. 2006, â€Å"Organisational structure is the formal framework by which job tasks are divided, grouped and coordinated. † Ryanair is observed to implement common traditional organizational designs. The organization is designed with low departments, as the aircraft handling, ticketing, baggage handling and other functions to third parties in all the airports other than Dublin airport, where it maintains its own staff and services are outsourced. The company organized this kind of a system, to limit the direct exposure to employee relations responsibilities and potential dispute. Ryanair has also organized to carry out the routine maintenance, repair services and checks on aircraft by their own engineering staff, while engine and heavy maintenance are contracted out to third parties. This organization was necessary for the company, since it was cheaper for the company to outsource to third parties rather than employing dedicated employees for the company. The control and authority of the organization is centralized in one person i. e. Michael O? Leary, the CEO of the company. The organizational structure have the advantages of wide span of control, fast and inexpensive to maintain, however as the organizational grows and expands its market, it is not appropriate and reliance on one person makes it very risky for the company. 2. Controlling Ryanair have outsourced the engine and heavy maintenance as a contract work, however the work is carried out under the supervision and planning of Ryanair engineering staff, enabling the company to retain control of quality and safety. This is a feed forward control as it prevents anticipated problems in the future (Robbins et. Al. 2006). Ryanair also have the control over the market of airlines business. Ryanair is the market leader and every airline follows the company in setting out their ticket prices, commission of the agents and other related costs. The company also have a good control over the financial position of the business, in the sense that the liquidity position, leverage, profitability ratios are maintained at a balance level. In a nut shell, the company has checked and balanced over all the activities in the company. It has a good control system implemented from the maintenance of aircraft machine to the lowest level of managing human resources. However, control measures should be implemented in attracting and retaining the existing market share of the company. 3. SWOT analysis STRENGTH Low cost airline Performance related pay structure Aggressive and innovative leadership (Michael O? Leary) Low maintenance cost Punctuality of flights Fleet commonality User friendly website for online booking Passenger charter Minimum baggage loss Major earnings from ancillary services WEAKNESS Growth addict Weak customer service Central decision making Poor affiliation with employees Falling profit yield Multiple fines by the authorities Only in EU market Earns publicity through negative press reporting. Old aircraft. Low employee morale. High turnarounds resulting in maximum Misleading information about ticket fares and aircraft utilization Reduced commission to travel agents Out sourcing Lowest labor cost due to non-unionized labor force Highest seat density destinations. OPPURTUNITY THREAT Expansion of the routes to other parts of the Competitors world Improve facilities in air From low fare airline to no fare airline Fly to central located airports Enhancing their ancillary services War, disease outbreaks Currency fluctuation Formation of union by pilots Hike in oil prices Slack customers due to poor customer service. Other modes of transportation . 1 STRENGTH Ryanair being known as the Europe? s first low cost, no frill airline is the company? s strongest positive feature. The low cost no frills policy resulted to the speedy increase of customers and development of their operation. The CEO of Ryanair, Michael O? Leary portrays a major strength to the company; his aggressive and innovative leadership proves to sta nd Ryanair at the position where it stands now. One of the largest factor acting as a positive force for Ryanair is the firm? s direction towards out sourcing certain service activities within the firm, such as maintenance and repair service. This pace might help the firm to focus on sustaining improvement with on-payroll staff and enhance customer service. Rynair? s performance related pay structure acts as a motivation for the staff and as a company it will stand out in terms of providing excellence in total organizational performance. The variety of ancillary services offered by Ryanair was the greatest source of revenue generator for the firm. According to the graph below it indicates that due to its low fare super brand passenger number grew every year, which made Mr. O? Leary conclude that† low fare always wins†. (Centre for Asian Pacific Aviation, 2009) (Ryanair passenger number growth and load factor growth: FY06 to FY09) 3. 2 WEAKNESS: Ryanair has transformed itself from an undersized industry into one of Europe? s biggest Airlines over times. However its obsessive focus on the growth and only growth has dented its public image. Its negative public image is contributed both by its aggressive CEO and unfriendly staffs. One major problem lies in the handling of customers or target market. It provides poor inflight services to the passengers further more it has misleading websites thus creating a negative impression to the airline brand. Customers are unhappy with Ryaniar because of it poor customer service the only source of attraction for them is the low fare. Old aircrafts are a major concern to think of, as it wasted lots of fuel and needed high maintenance cost especially when the currency fluctuation takes place. The firm faces a lot of unsolved issues due to lack of strategic decision making in several areas concerned with the welfare of the firm. The CEO of Ryanair Michael O? Leary is the central decision maker of the firm, this stands as a weakness as the firm has to rely fully on one person whether right or wrong. 3. 3 OPPORTUNITY: Every firm has its own set of strength and weaknesses, but to make good grasp of the bigger opportunities will further take part in the firm? s enrichment. Ryanair still has the opportunity of competing and dominating in the European airline Industry in terms of providing more standard services to its clients and can be the number one airline industry in the region. Customer ratio can increase if Ryanair can establish the latest trends in Airline management and marketing to meet the demands of their market. Additional initiatives can be taken to diversify its ancillary services which are a revenue resource and open new opportunities to make the business stronger to outstand all its rival competitors. Since Americans have allowed European Airlines to enter USA in the domestic market, as such Ryanair without doubt will be in the leading position as it will be the first carrier to fly low cost to the States. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. 3. 4 THREAT Competition, market uncertainty and changing customer crave appears to be the largest threat in the emerging market scenario. Ryanair is continuously faced with inevitable threat of stiff competition and for it to survive in the global competition it has to develop new products with better standard than its competitors. Expansion of operation to other areas like the non-EU markets means that the firm has to adjust to the political issues and trade policies of that region. The demands of the customers are highlighted to be a challenge to the management, consumer behavior and satisfaction with regard to the product and services is also a risk. If the firm continued concentrating on money making and paid no heed to customer satisfaction, the company may fail in terms of management ability. Advancement in the technology world can tend to be a threat in the airline business, hence the company should be able to provide more distinct and advanced technological services to be able to build a place in the competitive airline industry. 4. PEST Analysis POLITICAL Accusation of Misleading advertisement Taxation rules Route charges increased by govt. Union policy EU expansion EU abolishment of Duty free sales ECONOMIC The fuel price fluctuation Currency fluctuation Increase growth rate in GDP Compensation to travelers SOCIAL Terrorism, war outbreak Flight hijack Public image of airline Customer demographic TECHNOLOGY New Boeing flights Proper website Different modes of travel The four factors (Political, Economic, Social and Technology) that play a major role in the future of the airline industry have been focused as above. These external forces have direct impact on the strategic direction at Ryanair. As Ryanair is being operated only within the EU market it can be a relative advantage to the company regarding the external Political environment as this locality maintains political stability. The only concerns on the political environment are the changing taxation rules, union policy and route charges imposed by the government. Nevertheless, on the outside of the European place of the market, the society supports economic significant difficulties put by the political forces as OPEC, the organization responsible for the petroleum production in Middle East. As majority of international revenues in the regions of Middle East comes from oil and from petroleum production / distribution, Ryanair and other business entities have no escape from it. The situation becomes worse when exchange rate fluctuation takes place. (strategic case analysis, 2005) The social environment which is completely uncontrollable can be classified as the changing consumer preferences and demographics. The consumer behavior are the most unpredictable behavior in the business scenario as their preference tend to differ from one product to another due to price differences or even lack of basic consumer reliability. From the financial statements of the company, it is observed that the company is doing well in updating the technologies over the time. It is observed that, the company can afford to purchase new jets to remain competitive in the market. Supply chain software programmes, online ticketing service for customers and other technologies were used by the company for improving the efficiencies and cutting down the cost of the services. The technological environment does not have much of an impact on the organization as of now. (Higgins. E, Ryanair, 2005) To sum up, the external environment of the business is stable compared with many other businesses that are taking place globally. The political, economic, social and technology factors are steady and easing the business to expand, however if these conditions changes in the future, there might be a huge impact on the profitability and market expansion of the business. (Strategic case analysis, 2005) 5. Financial Analysis Objective Discription Formula 2003 (E 000) 2. 9532 2. 8928 50% Liquidity test Current ratio Acid ratio Current assets/ current liabilities Current assets-inventories/current liabilities Total debt/total assets Leverage test Debt to asset Operations test Inventory turnover Total asset turnover Profitabililty Sales/Inventory Sales/total assets 4% 0% 28% 0% Profit margin on sales Net profit after taxes/Total sales Return on investment Net profit after taxes/total assets The above table shows the ratio analysis of Ryanair from the income statement of the company for the year 2003 and the balance sheet as on 31st December 2003 of the said company. From the above table it is observed that, the company is liquid enough to pay its short term liabilities from its current assets. Ryanair has E 2. 95 of current assets for the payment of E 1 of its short term liabilities. The firm is very liquid and creditors of the company will be willing to give more flexible credit terms to the company. Ryanair has a balanced leverage. In other words the company made investment on the assets by 50% debt and 50% equity. The risk and returns of the company is also balanced. The profit margin on sales is 28%. The company has a good profit margin and an increase in sales with proportionate increase in expenses will help the company to grow and expand faster. The return on investment is almost nil. The company should put in effort to utilize their assets efficiently, so that the returns from the investment can increase over the period. Overall, Ryanair has a good liquidity and leverage ratio. The company should utilize these strengths for expansion and growth of the company. However, the operations and profitability ratio are not really leading the company in the right direction. The management should focus on improving the returns from the investment ratio. (Higgins et al, 2005) 6. Critically evaluate alternative solutions: From the above SWOT, PEST and Financial analysis on Ryanair, the following alternative solutions are obtained to overcome the threats and issues of the business in the near future. Market Expansion Ryanair should diversify their services to other parts of the world as these expansions will boost the sales of the company. Ryanair is one of the economical airlines around the world and it has ample of opportunities for business diversification in other markets. Expansion of operation to the non-EU market can stand as an excellent opportunity for the firm. Introduction of unique value added services Ryanair has the opportunity of competing and dominating the European airlines industry in terms of providing standard services to the client and can be the number one airlines company in the region. Ryanair should outsource in providing unique value added services to their clients which are not provided by the other airlines at a budgeted cost. For example, a shuttle bus service can be introduced to carry their passengers from the airport -city and from city – airport at a minimum cost. These kinds of services will help the company in increasing their sales with a minimum increase in cost. Marketing research on airport selection strategy As of now, Ryanair uses the strategy of choosing secondary and regional airport destination and avoiding the congested main airports mainly to cut the cost on airport charges and utilize the time efficiently. A good marketing research and an analysis should be made on comparing the costs and benefits of current strategy and using the main airports in the city. If the report of the research finds out that, it is more beneficial for the company to use the main airports rather than he current strategy, it is advisable for the company to change their strategy and run few experiments with the new one. Marketing and advertisement Ryanair advertises primarily on its website, in newspapers and on radio and television. More advertisements should be made off course within the budget focusing the target market of the company. Product packaging , which consists of air ticket, travel insurance, hotel reservation, car rental and other services, should be designed differently for different groups of customers. This will serve as a one stop shop, which will promote the business as well increase the profitability of the company. Mergers and Acquisitions Mergers and acquisitions is one of the important strategies with big companies. Ryanair should merge or acquire with other businesses in order to improve its capabilities and acquire more competitive advantages. Human resource management In a fast changing world, where technologies and other strategies can be copied, it is the human resource that can bring a competitive advantage. The company does not seem to value its employees and belief in the competitive advantage and importance of their people in the competitive world. Ryanair should initiate steps in improving and valuing their people and frame strategies for gaining competitive advantage over their competitors. 7. Recommendations: Based on the analytical issues it can be recommended that Ryanair can merge with other companies as it can be a brilliant strategy for the growth and success of the company. In case of Ryanair it? s been noticed that the company does not value its staffs. Since, the staffs of the company are considered as one source of sustainable competitive advantage, first and foremost the company needs to priorities its Human Resource Management. Ryanair need to be more goal oriented and must not stop to review and change their marketing plan strategies frequently in order to re-originate the performance process upon the upgrading of rules and regulations imposed by the state. Ryanair is to overcome the lack of product differentiation and enhance it that will have the ability to revive revenue generation. Ryanair has land marked in the area of punctuality however the perception of good customer service has always been poor and more hived up by press. With this in mind Ryanair, while maintaining its strict rules and regulations, must make an adjustment in this area. 8. References Annual Report. (2008). „Ryanair Annual Report and Financial Statements 2008?. Retrieved August 6, 2009, ryanair. com/ Air scope, May 2007, Bird? s eye view, retrieved on 2009, air-scope. com/ Box, Thomas M, Byus, Kent, Business Publications, 2007, Ryanair (2005) Successful Low Cost leadership viewed August 6 ,2009, http://ivythesis. typepad. com Dian Ratnasari, RyanAir case, read on August 6, 2009, http:// www. cribd. com/ Eleanor R. E O? Higgins, Case Study: Ryanair, 2004 Eleanor R. E O? Higgins, ECCH Collection, Case Study: Ryanair ; Low fare airline, 1999, viewed August 8, 2009 Eoin S. O? Cuilleanain, Gonzague della Falle, Felix Sobotka, Alexander Kleinert, Solvay Business School, April 2004, Ryanair Plc, viewed on August 6, 2009 Robbins. S, Bergman. R, Stagg. I, Coutler. M, ‘Management,? 4th Edition, 2006 Ryanair 2009, retrieved on Augus t 6, 2009, http:// www. scribd. com Strategic Case Analysis: Ryanair, 2005 retrieved on August 6, 2009

Italian Phrases for Staying at a Hotel in Italy

Italian Phrases for Staying at a Hotel in Italy When you visit Italy, there are a variety of options for accommodation. If you’re looking for something that’s more standard, a hotel room might be the best fit for you. But if you want a more authentic experience, you could choose to stay in a hostel, rent a room in someone’s home, book an entire apartment for yourself, or stay in something more unique like an . No matter what you choose, you’re going to need  phrases  along with important vocabulary. Phrases C’à ¨ qualcosa di pià ¹ economico? - Is there anything cheaper?Il prezzo include la colazione? - Does the price include breakfast?Qual à ¨ la password per il WiFi? - What is the WiFi password?Ho perso la chiave. - I lost my key.Mi sono chiuso/a fuori dalla camera. - I’m locked out of my room.La luce non funziona. - The light isn’t working.Non c’à ¨ acqua calda. - There is no hot water.La camera à ¨ troppo (fredda). - The room is too (cold).Mi d la ricevuta, per favore? - Can you give me a receipt, please?Possiamo lasciare i bagagli fino alle (due)? - Can we leave our bags here until (2PM)?Mi puà ² procurare un taxi per andare all’aeroporto, per favore? - Can you organize a taxi for going to the airport, please?Avete...? - Do you have...? Vocabulary L’Internet - InternetLa cucina - KitchenLa lavanderia - LaundryIl telefono - TelephoneGli asciugamani - TowelsIl sapone - SoapLa carta igienica - Toilet paperUn’altra coperta - Another blanketLe lenzuola pulite - Clean sheetsLa TV - TelevisionIl telecomando - RemoteLa piscina - PoolL’aria condizionata - Air conditioningIl servizio in camera - Room serviceFare check-in - To check inFare check-out - To check outPrenotare - To bookLa camera - RoomLa camera doppia - Double roomIl letto matrimoniale - Double bedIl passaporto - PassportIl piano - FloorLe valigie - Suitcases / baggageGli ospiti - Guests Tip: It’s more likely that you’ll hear â€Å"i documenti - documents† instead of â€Å"il passaporto - passport.† Dialogue You: Buongiorno, abbiamo prenotato una camera doppia per stanotte. - Hello, we booked a double room for tonight.Clerk: Il suo nome, prego? - Your name, please?You: Giulia Mazzini.Clerk: Per due notti, vero? - For two nights, right?You: Sà ¬. - Yes.Clerk: Il totale à ¨ settantacinque euro. - The total is 75 euro.You: Possiamo pagare con la carta di credito? - Can we pay by credit card?Clerk: Sà ¬, certo. Posso vedere i vostri passaporti? - Yes, absolutely. Can I see your passports?You: Sà ¬, ecco. - Yes. Here they are.Clerk: Ecco la chiave, la vostra camera à ¨ la numero 215 al secondo piano. - Here is the key, your room number is (215) on the (2nd) floor.You: A che ora (si deve)/dobbiamo lasciare libera la camera? - What time is check-out?Clerk: Alle 11. - At 11 am.You: Grazie! - Thanks!Clerk: Potete usare l’ascensore là ¬ in fondo. - You (all) can use the elevator there at the end (of the hall). Phrases for an Apartment If you book privately, the landlord may request that you send a â€Å"bonifico - deposit† via wire transfer. In order to do this, collect the IBAN number (cod IBAN) and the BIC number (cod BIC). The â€Å"bonifico† may be anywhere between 30-50% of the price. Finally, tourist season is April - October, so if you plan on visiting during that time, particularly in a more populated area, like Firenze, be sure to book 6-7 months in advance. Come funziona la lavatrice? - How does the washer work?C’à ¨ un ferro da stiro? - Is there an iron?Il gas à ¨ aperto? - Is the gas on? Tip: You’ll need to know how to ask about the gas because you won’t be able to cook using the stove unless the gas switch is open or turned on.