Product Proliferation

Product proliferation refers to a situation that arises when a specific organization markets almost similar products but introduces slight variations to increase its market share (Berman, 2010). These products are only differentiated through aspects like color, shape and product size. Product proliferation has both positive and negative effects with regard to the market.Advertising We will write a custom essay sample on Product Proliferation specifically for you for only $16.05 $11/page Learn More One of the strategies employed by companies that adopt product proliferation is a broad product line, which is perceived to translate to increased overall demand. Secondly, an extensive product line in relation to supply has been known to affect the market through increased costs. Lastly, an extended product line, especially by large scale manufacturers, mostly deters other players from joining the market. This will translate to increased prices by the incumben t firm (Barnett and Freeman, 2001). Although there is no clear-cut study that has been done to assess the three aspects given above empirically, it is crucial to mention that it has been suggested from previous studies that product proliferation strategies have no uni-dimensional explanation in relation to decision making as product proliferation has an impact on both demand (market share) and supply (price). The market outcome is determined in terms of product proliferation by competitive structural factors that influence product line decisions in a firm (Bayus, 1999). Product proliferation is used as a means to curb rivalry within an industry as competition is based on product differentiation rather than price. Product proliferation facilitates competitiveness, which is based on perceived uniqueness of the product, quality and lastly performance of the product. Some critiques argue that product proliferation has led to wastage of resources as it works well when there is a boom in the market. When a recession hits, even powerful companies experience major stability problems. This is directly linked to excessive investment costs. Most car makers churn out various models of vehicles, a practice that has led to immense competition between car makers. This has translated to increased demand for iron and aluminum which are the raw materials for the automobile manufacturing industry. To reduce cannibalization of these products, there is a need to intuitively target the changing customer needs by building a full contact through watching and questioning those creative market segment. The other aspect of minimizing cannibalization of products is by coming up with ways of out-innovating other competitors by expanding the product line.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This comes in the way manufacturers plan their innovation to incrementally change to capitalize maximally on previous developments and modern ones to absorb common parts and other components that would otherwise go to waste. The other means through which cannibalization of products by product proliferation can be reduced is by critically adopting the continuous improvement approach. Many traditional industries are known to instinctively operate within quad rum of pure quality concerning cost model, where any slight modification in design, quality or even features will translate into increased prices. Most prestigious car manufacturers have adopted this model of trade-off curve like BMW and Mercedes-Benz brands. In more than one way, product proliferation leads to wastage of economic resources Product proliferation has gained momentum with the rise of a middle-class section of the population, which is the main proponent of consumerism. This middle-class mentality is centered on getting custom-designed products that are affordable and act as a source of prestige. This is worsene d by established businesses which have a culture of demanding for private brands or labels which are mostly put in display and promotional packs. This has been made easy by the rise of globalization where products must adhere to specific requirements such as labels that are translated in different languages. Other negative aspects arise with product proliferation. For instance, due to its dynamism, it is practically impossible to manage product proliferation. In recent times, most of the large scale manufacturers have resulted in pruning their products rather than coming up with new ones. What this means to those manufacturers coming into the market is that they cannot compete as the veteran companies will determine the prices of products that are offered in a particular industry. This is made complex by the unpredictable change of the landscape of consumer demands. As new consumer demand rise so will the companies attempt to meet these demands and maintain the existing market share . Measures Associated With Product Proliferation Capacity Control Capacity control emanates from industry players producing too much output to caution against making tremendous losses, and manufacturers result from cutting on prices. Other players respond similarly and reduce their prices causing a price war. Although excessive production may result from too much output from manufacturers other factors like a shortfall in demand due to a recession may also cause excessive output in the market. Paradoxically, the effort of each industry players to outperform the other results in overcapacity which bites them all.Advertising We will write a custom essay sample on Product Proliferation specifically for you for only $16.05 $11/page Learn More Design as a Strategy Design as a strategy has been adopted as a means towards enhancing product proliferation in a market; one of the latest companies to take this strategy is Thomson Consumer Electronics (TCE). The co mpany is a manufacturer of different brands of TV sets. As noted by Aguirregabiria and Mira, (2007), design as a strategy entails aspects such as the product’s feel, look, touch, and ergonomics. For many manufacturers, the design is not merely cosmetics add-ons, but a corporate identity that separates them from other manufacturers. A company’s product design is synonymous with the quality of the product. The design has been used by various companies like house furnishing where it acts as the company label or the brand. Design goes beyond styling. It conveys quality and also improves margins. There are various enhancements that design puts on a product. One is the aesthetic quality which causes appeal of a product; the design also increases the safety of a product making it pleasing to touch and use. Thirdly, the design ensures a product is easy to operate, clean, handle and install. The most crucial aspect of the design is that it should be economical to manufacture an d also recycle (Aguirregabiria and Mira, 2007). Innovation as a Strategy Innovation serves as the basis for product proliferation as it curves a niche for a company and places it as a guru in industrial breakthrough. Some of the companies that have come up with unique innovations in recent times include companies such as Apple which came up with the icon-based personal computer; Michelin came up with its radial tire, Pilkington which also came up with the floating glass process. All these innovations have placed their companies in great heights. Innovation as a strategy is challenging to maintain and thus very risky. Most companies see innovation as not a sustainable competitive strategy. This has translated to increased product proliferation as there are no new products, but the only modification of the previous inventions. It is critical to mention that the period sustained by new design roughly translates to how fruitful one’s venture will be in the form of profit as the m arket becomes an oligopoly. This consistency of being always on the lead ensures a loyal customer base. Innovation in product proliferation takes two distinctive approaches, either by nature and trust, where innovation trickles from management downwards, or it may be characterized by innovation rising from bottom-up. The bottom-up approach originates from the workers, and their suggestions are passed through the organizational hierarchy to the management.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This approach has been hailed by Bayus and Putsis (1999) as it promotes ownership of the innovation which further translates to success as far as market penetration and future product success is concerned. This means that innovation is spontaneous throughout the organization. Service as a Strategy Lastly, in product proliferation, service as a strategy translates to how much a company will succeed than the other. Most manufacturers do not consider service as being important. Generally, it is the product that receives much attention since it’s a source of competitive advantage. Service, on the other hand, is seen as a necessity that is incurred, rather than an added value. In product proliferation, there is an immense need to have an efficient and sufficient service delivery since there are various similar products in the offing. It is estimated that companies lose 15-20% of their customers on an annual basis. Now for a market that is oversupplied, there is a need to keep a st rong customer base, and this can only be achieved through customer satisfaction. Swift and effective handling of complains and inquiries together with friendly customer approach will always keep customers coming back. Reference List Aguirregabiria, V. and Mira, P. 2007. Sequential Estimation of Dynamic Discrete Games. Econometrica, 75 (1) Pp.1–53. Web. Barnett, W., P., and Freeman, J. 2001. Too Much of a Good Thing? Product Proliferation and Organizational Failure. Organization Science. 12(5). Pp. 539-558. Web. Bayus, B., L., and Putsis, W., P. 1999. Product Proliferation: An Empirical Analysis of Product Line Determinants and Market Outcomes. Marketing Science. 18(2) Pp. 137–153. Web. Berman, B. 2010. Products, Products Everywhere: Do companies really need to sell so many varieties of similar goods? No. Wall Street Journal. Issue. Web. This essay on Product Proliferation was written and submitted by user Genevieve W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Product Proliferation

Guess Whos Coming to Dinner essays

Guess Whos Coming to Dinner essays The film, Guess Who's Coming to Dinner, written by Stanely Kramer reflects society's prejudices of the 1960's time period. This comedy explores the subject of interracial marriage, and the impact it has upon the parents of the bride and groom. This film definitely confirms the concepts of the 1960's, yet provides a new perspective on mixed marriages for years to come. The movie interprets the time period well, especially enlightening the ignorance and tension between African This movie tells of a dinner party given by a bride's parents to meet her fianc and his parents. The comfortable middle class, white parents of the bride are shocked when they find out that the groom is black. The groom's parents, are also in alarmed to find out that the parents of the bride are white. Surprisingly, the mothers seem to be more accepting of the proposed marriage than the fathers, who are very skeptical, and hold onto old traditions. The 1960's were a period of increased government intervention and reforms, as seen by the shocking message of the story. After the film, the number of interracial marriages in the U.S. increased dramatically since the 1960's both in numbers and in the percentage of total marriages. To 51,718 interracial marriages in 1990 compared to 40,491 in 1960. The results clearly show the changing mindset of the nation from prejudice, to open-mindedness. Although the 1960's was a time of great change, the hearts of many Americans were still unaccustomed to new ideals. The idea of interracial marriage was very new for the time. The progression of the nation becomes evident with the creation of: NAACP in 1909, struggling for civil rights for blacks; the construction of Student Nonviolent Coordinating Committee (SNCC) in 1960, for eliminating segregation by nonviolent means; the Civil Rights Acts of 19 ...

Long-term memory and forgetting, What is the evidence that human Essay

Long-term memory and forgetting, What is the evidence that human long-term memory is modular - Essay Example Significance is also given because of some attachment to some significant aspect (Heffner, 2001). For example, anything that is related to ourselves such as our professional awards and appreciations and so on. Vogel and Drew (2008) inform that long-term memory has massive storage ability. Due to the massive storage ability, the long-term memory can keep massive information in it. We can regard human long-term memory as modular as it retains a wide amount of data. However, this fact cannot be denied that we forget some information. Henderson (1999) describes that we forget because of two factors which are: decay and interference. From decay, he means the impact of time due to which, our long-term memory is sometimes unresponsive and from interference, he means the hindrance or intrusion that is caused because of some event or happening. By considering the phenomenon of forgetting, we cannot disregard the modularity of human long-term memory. Vogel and Drew (2008) report in â€Å"Why do we forget things?† that our long-term memory keeps records of information in a detailed format and the information it keeps cannot be considered as uncertain because the long-term memory keeps an massive amount of information for the lifetime. We forget because of interference and at that juncture, when we forget, we have to voluntarily search our memory for the forgotten event or item and with the search, we will be able to remember the right answer for our question (Vogel and Drew, 2008). Heffner (2001) regards forgetting as a natural phenomenon. He informs that when we are not able to remember anything, it cannot be said that the information is lost forever, it stays there. The information that is saved in our long-term memory cannot be retrieved at sometime because of some distraction and temporary problem. This distraction or interference is only for the time being as the information can be gained later on (Heffner,

Employmeny theraghy pf here Research Paper Example | Topics and Well Written Essays - 1000 words

Employmeny theraghy pf here - Research Paper Example According to Sills (2009), a respiratory practitioner, must have a degree in cardiopulmonary respiratory care. Therefore, as student pursing bachelor degree in medicine, specializing in respiratory care, I qualify for the position of a respiratory therapist. Also, having been working with the Agah Khan Hospital as an intern for three months as a nurse I have enough experience for the job. Research Process My research topic would be about respiratory therapy jobs. I would choose it because my interest is to one day work a respiratory therapist. I have decided to choose the topic as my area of study because, we have few respiratory practitioners and the numbers of people that lose life from such diseases are extremely many. This would help in saving peoples life. Factors that I would consider before looking for a job include time factor, my current position, date when I will complete my studies in the university and financial factors. I would check for different job vacancies on respir atory therapy. I would apply for different jobs advertised online in different companies’ websites. I would read more about respiratory practitioners on the websites and exactly what the companies require for recruitment. I would also visit different companies for enquiry about their next job intake. ... I would also consider my qualification and information that will market me to the recruiter. I would consider information about transferable skills from my past job experience and education. Information on how to present myself or first impression as well as how to be myself during the interview is extremely valuable. I would also learn on how to keep my answers positive and even turn the negative situations into learning situations. In consideration of the interview, I would avoid talking negatively about my previous employers. I would consider information about gaps of time out of work and school. Also, being honest, direct and truthful in the process of the interview about a certain situation in my previous job is extremely advantageous. Learn how to be positive about the situation and instead indicate what I learned. Accurate statements about abilities, skills, talents and interests are key information to consider in preparation of my interview. Information, on how to express my emotions non-verbally, body language and posture would be also critical information to consider. During the interview, a would consider the position offered by the company and give a short list on the positions I would like. Out of the ten positions listed, I would request for three positions. According to Chang (1999), the ten possible positions could be neonatal and pediatric intensive care, case management, sleeping disorder specialist, pulmonary research and science, surface and air transport specialist, intensive care, cardiovascular per fusionist, extra-corporeal membrane oxygenation, asthma specialists and cystic fibrosis. Depending on my capability and performance in class as well as interest I

Biases and Judgment Essay Example | Topics and Well Written Essays - 500 words

Biases and Judgment - Essay Example Several biases impact decisions, such as bias, or ethical issues related to the availability heuristic and bias related to the representative heuristic. Bias related to the availability heuristic pertains to being biased for information that is easier to recall and presumed as related (Korte, 2003, p.447). Bias related to the representative heuristic refers to evaluating situations using traits that represent stereotyped beliefs and values (Korte, 2003, p.447). The first judgment bias that I dealt with is related to anchoring and adjustment. Anchoring refers to focusing too much on an â€Å"anchor† or specific value in making decisions (Korte, 2003, p.447). Adjustment of decision-making occurs, when the decision becomes solely or greatly based on this anchor, instead of a wide range of factors (Korte, 2003, p.447). In order to deal with this bias, I used reflective decision-making, with expedient factors. Reflective decision-making pertains to having a long-term approach to decision-making, while expedience requires making fast decisions, often to achieve short-term goals (Hoch & Kunreuther, 2001, p.106). I needed to use reflective thinking, because I wanted to determine the potential anchors that I tend to use during making decisions. For instance, identifying the criteria for establishing an effective and efficient human resource department requires selecting the right factors and weighing them appropriately. I avoided anchoring a nd adjustment by considering different aspects of the problem, such as employee sentiments, resources, and situational factors. The organizations needs a more concrete HR system, but they cannot afford a whole-unit approach to HR. Some people would also not be open to professionalizing their HR systems, because of fear for drastic organizational changes that will upset the status quo. Instead,

Reflection on Return to Education

Reflection on Return to Education What are some of the changes I can make in my routine for success in my return to college? I am a 38 year old working husband and father thats going back to school with the hopes of getting into the nursing program at Coahoma Community College. Getting back into school has been fun and enlightening, but Im also quickly reminded of the time and commitment required. The intent of my paper is to enlighten my teacher and my schoolmates my ideas to help me prepare for a successful collegiate experience. As a returning college student, my challenges include waiting until the last minute to start assignments, being unorganized, paying too much attention to distractions such as social media, television, noisy settings, and unwillingness to get started. This paper discusses the academic issues that I have and my plan for solutions in each paragraph. Out of all my bad habits, my biggest one is waiting until the last minute to start assignments (Carter 12). My plan is to not procrastinate when I know I have assignments and quizzes due. I need to arrange my study times in advance (Carter 13) and place an emphasis on responsibility and self-regulation (Adams 19). Finding time to do homework assignments and study is hard for me to do. Working a full time job during the week and some weekends, being a musician, and raising two school age children takes a lot of my time. Weekends seem to present the best times for me to study, but my assignments are usually done in between work and bedtime during the week. Recently, my wife purchased a nifty new dry erase board calendar that Ive found really helps me keep on track with assignment and project due dates. At the beginning of each week, I mark down everything that is due for the rest of the week so I can clearly see it listed in front of me. I mark each assignment out as I do them. This ca lendar has really helped me see a specific timeline in which I know when to start and when to have my schoolwork done for the week. I think its a good step for to helping me address responsibility with my work. Ive also blocked time in the afternoon and evenings to work on assignments and study after work in between dinner, helping the kids do their homework, and putting them to bed. My most productive times during weeknights are after 8 p.m. when everything has calmed down. I often seem to be unorganized (Carter 12). My result will be taking the time to look at all my assignments for the week and getting a timeline for deadlines, and mapping out assignments on a planner (Carter 13). Being unorganized is something that Ive always had problems with. I always seem to have many things going on in my life that prevents me from doing one thing at a time. This issue creates clutter on my workspaces and work areas. Along with placing my new assignment calendar where I can clearly see it, Ive made efforts to clean up my messy and untidy workspace. From now on, everything from assignments to syllabuses have a particular place on my desk and will be easy to find and identify. I have also planned to look over all my assignments in Canvas every day and mark them down for the week so I am able to see them written in front of me as I work. I pay too much attention to distractions such as social media, television, and noisy settings (Carter). My fix is to pay attention to how much time I spend on my phone, television, and my noisy environment and make proper adjustments to help with the distractions. Put away electronic devices and find a quiet place to do work and study (Carter 13). As long as I can remember, Ive been a big fan of television and various social media. Although I do not watch nearly as much television as I used to, I have plenty of family members in my household that do. Our house isnt that large and televisions can be heard throughout it. Even when I am not particularly not watching television, it can still be distracting. Social media apps on my phone and computers are distracting and detrimental as well. My short attention span keeps me wanting to be entertained constantly, and I get distracted very easily. The best way for me to handle these distractions is to isolate myself completely from them. I h ave a room I can go to in my home that doesnt have a television and get away from my children playing. I can also leave my phone in another room while I quietly do my work and study, away from those distractions. I am often unwilling to get started (Carter 12). I plan to change my approach to school work by adding new daily routines to help me focus on efficiency. Join a study group (Carter 13), add a set of reminders, and hold myself responsible (Adams 19). Aside from my issues with disorganization and distractions, I have problem with procrastination as well. In the past, I leisurely did assignments as I felt that they needed to be done. That process ended up hurting my averages as some assignments were sometimes late and even incorrect because they were done at the last minute. My untimely starting has prompted me to take charge of my academics by focusing on each assignment and deadlines for that assignment. Adding several intervals of work and study time throughout my days and weekends have also made a big difference. I have started looking out for study groups for various classes within my school to help with my efficiency, along with assignment reminders at work and at home. This new s tructure will surely help my efforts for better achievements with class. In my return to college, I have had to readjust a few of my old ways of applying myself academically. The ways of learning I had been used to no longer worked the same way for me.  Ãƒâ€šÃ‚   Introducing a suitable schoolwork schedule, assignment calendar, planner, organized work area, and getting away from distractions have made a positive impact on my school performance. For anyone who finds themselves with similar issues like mine, I suggest utilizing some or all of these ideas to their routines as I have found them beneficial. Works Cited Adams, Caralee J. Soft Skills Seen As Key Element For Higher Ed. Education Digest 78.6 (2013): 18-22. Academic Search Premier. Web. 14 Feb. 2016. http://search.ebscohost.com/login.aspx?direct=truedb=aphAN=85157969site=ehost-live Carter, Claire. From Vegetation to Procrastination: Breaking Bad Habits. (Cover Story). Collegexpress Magazine (2015): 12-15. Academic Search Premier. Web. 14 Feb. 2016. http://search.ebscohost.com/login.aspx?direct=truedb=aphAN=110434600site=ehost-live

Confederation and Constitution Essays -- Governmental American History

Confederation and Constitution After the American Revolution, a new government had to be established. The Constitution that was written took power away from the people. It led to rebellions from poor people and farmers. Daniel Shays, a former Revolutionary Army captain, led a rebellion with farmers, against laws which were not fair to the poor. They protested against excessive taxes on property, polling taxes which obtained the poor from voting, unfair actions by the court of common requests, the high cost of lawsuits, and the lack of a stable currency. They wanted the government to issue paper money, since it is cheaper then gold and silver coins. Once retired George Washington heard of this, he immediately went to Massachusetts to stop it. He was completely shocked to see the people fighting against the country which fought to free those men. â€Å"What a triumph for the advocates of despotism to find that we are incapable of governing ourselves, and that systems founded on the basis of equal liberty are merely ideal and fallacious.† (George Washington Expresses Alarm 1786) He said this to the rebels who then stopped and the rebellion was crushed. After Shays rebellion collapsed, the government realized that they need a new constitution and to strengthen the Articles of Confederation. This was a long and hard decision on whether to give the people the right to voice their opinions or not. Mixed views on the subject were given so it was very difficult to come to a conclusion. Mr. Sherman of Connecticut â€Å"opposed the election by the people, insisting that it ought to be by the state legislatures. The people, he said, immediately should have as little to do as may be about the government. They want [lack] information and are constantly liable to be misled.† (The Debate on Representation in Congress 1787). Mr. Sherman is saying that people should not have anything to do with what the government has to do. They only get information wrong and can be misled and misdirected into something that can be bad for the country. Mr. Gerry of Massachusetts believes â€Å"the evils we experience flow from the excess of democracy.† While Mr. Mason of Virginia â€Å"argued strongly for an election of the larger branch by the people.† The representatives of these states viewed different ideas on democracy. Some wanted the people to have more of a say while others wanted to... ...ystem is without the security of a bill of rights. These are objections which are not local, but apply equally to all the states.† (Elbridge Gerry, Letter to President of Senate and Speaker of House of Representatives of Massachusetts, October 18, 1787). Gerry is saying that no government can represent the people, only the people can represent the people. It’s not only in Massachusetts that this problem of representation, it’s all thirteen states. During the time the Constitution was written, the Founding Fathers believed the government was based on property. â€Å"Men who have no property lack the necessary stake in an orderly society to make stable or reliable citizens† (The American Political Tradition). While John Adams said there could be â€Å"no free government without a democratical branch in the constitution† John Jay felt â€Å"The people who own the country ought to govern it.† This proves that there were many mixed feelings about the Constitution, but still, the power went â€Å"from the many to the few†. There are only a hand full of people that can run the country during the time the Constitution was written, and even today, but the ratio between politicians and â€Å"farmers† is great.