Friday, January 31, 2020
Marketing 4p assigment Essay Example for Free
Marketing 4p assigment Essay INTRODUCTION 1. 0 BACKGROUND OF THE ORGANIZATIONS: Backed by more than 20 years of experience in Japan, Sushi Zanmai possesses extensive expertise for raw materials selection. Base on the nature of Business is classified as Food Beverage industry. The purpose of their business is serves the best food and services to each customers. Genuine ingredients coupled with original recipes and original taste, they provide more than 100 assortments of sushi and 100 varieties of cooked food that are authentically Japanese. They now have 10 outlets in Malaysia which is at Sunway Pramid, One Utama, Garden Mall, Low Yat Plaza, Paradigm Mall, Fahrenheit 88 and 1 Month Kiara. They have their own wedsite for customers more easily to find out the most nearby location and know what is new on that month. The main selling product is sushi other that they also have sell noodles, rice set, desserts, and beverages. That sushi of colour plate starts from RM1. 80. 2. 0 THE PRODUCT OF SUSHI ZANMAI Sushi Zanmai is originated from Japan. They are offering the combination of tangible goods and services in their business. They provide traditional Japanese foods and services on their business. They business are on direct sell foods to customers. They have serves appetiser which the Japanese meal begins with a visual feast of chilled and warm appetisers, like: Salmon roe Japanese omelette Potato Mayonnaise Sushi Zanmai created own specialties featuring the freshest, handpicked ingredients provide a fresh, contemporary spin on much-loved favourites, exquisitely tailored to suit local taste preferences such as, Sanshoku Hana Salmon Caterpillar Roll Wasabillar Roll The traditional entree consists of expertly-sliced raw fish, shellfish or mollusks, complemented perfectly by the combination of wasabi and soy sauce, and often accompanied by pickled ginger, example Salmon sashimi Toro sashimi Maguro sashimi According to survey, most of the female prefer sushi salad that the reason Sushi Zanmai products include various types of Salad to let customers choose too. As you can see the three popular salad dishes are Sashimi Salad Salmon Salad Kaiso to Tofu Salad Rolled sushi in Japanese language is pronounces maki. It usually comprises of seafood which may or may not be raw, vinegared rice and paper-thin seaweed. For example, Salmon Maki Soft Shell Crab Maki Natto Maki Follow that, they do have Temaki. The â€Å"te†in Temaki means hand is Japanese language. The Temaki sushi is two- fold. It not only refers to a hand roll that is made entirely with the hand, without the traditional bamboo mat. The cone-shaped Temaki sushi is ofeten prepared as an appetizer. Soft Shell crab Temaki Ikura Temaki Unagi Temaki Other than that, noodles are also usually customers will order it. They have provide three types of noodles one is soba which is made from wheat flour, Udon made from wheat flour, Ramen made from Chinese wheat flour and served with a wide range of soup stocks such as soy-sauce base and salt base. Sansai Udon Niku Ramen Kakaiage soba Donburi a dishes consist of a deep bowl of rice topped off with chicken, beef or seafood cooked in a variety of styles and sauces. They have, Curry Rice Unadon Ebidon In beverages, they served many types of drinks like Green Tea, Calpis Smoothies, fine Japanese Sake, Soft Drinks, Japanese Plum Wine and others. Green Tea (unlimited refill) Ichigo Smoothies Choya Extreme A dessert to end the meals. It have multiple choice as well as, Macha Macha Parfait Itachoco Monaka Stawberry Parfait For the level of the product and services, Sushi Zanmai is selling the product which is categories in actual product. They have their own brand name, design, packaging that deliver the core benefit to customers. They are selling high quality level product that most of the ingredients are import from Japan such as Salmon, tuna, sea bream, Eel and etc. Besides, Sushi Zanmai are selling the shopping product goods which is one of the important consumer goods in market. There have few reason because of Sushi Zanmai’s product is belong to shopping product. Sushi Zanmai of products is consumers purchase and consume on a less frequent schedule compared to convenience products. Normally, they opened their business inside the shopping mall and which is high class and crowded shopping mall. They will do more selective when choosing distribution outlets to sell their products. However, customers are willing to spend more time locating their products since they are relatively more expensive than convenience products and because these may process additional psychological benefits for the purchaser, such as raising customers status level within their social group. 3. 0 THE PRICING STRATEGY THAT USED BY SUSHI ZANMAI Sushi Zanmai has successfully follows the price skimming strategy when setting the price of its products. The price skimming strategy allows Sushi Zanmai to charge a price that is above the competition, but also promote frequent sales to lower the price below them. Different groups of customers are willing to pay different prices for the same product. Sushi Zanmai can sell â€Å"The Extreme†to the customers who will pay the higher price to be the first to buy and also to the bargain hunters. Finally, this strategy will emphasize the product and service quality. Sushi Zanmai sets a high initial price for its products to send a signal to customers that its products are quality and the service is excellent. Next, Sushi Zanmai also using price line and price bundle as the pricing strategies. Product Line Pricing They have selling same product of food but different categories. Every guest has different taste and love different type of cruise that the reason Sushi Zanmai has to classify as well. Certainly, different materiel of food sure is different price charging. For example: Sushi Name Ingredients Price Inari Sakura Shiitake fish floss RM3. 80 Kaki Fry Roll Friend oyster sushi roll topped with mayonnaise RM9. 80 Dragon Roll Fried prawn sushi roll topped with avocado RM12. 80 Rice Name Ingredients Price Ebidon Deep fried prawn with egg on rice RM8. 80 Chiken Katsu Curry Chicken cutlet and rice with curry sauce RM10. 80 Unadon Roasted eel on rice RM15. 80 Noodles Name Ingredients Price Tsukimi Udon or ramen noddles with egg RM6. 80 Sansai Udon or soba noodle with vegetables RM8. 80 Curry Udon or ramen noodle with chicken curry RM10. 80 Product Bundle Pricing Sushi Zanmai has offering set promotion to attract more guests to purchase their products. Set promotion is type of bundle strategy. It can let guests feel the price is lower or cheaper but just have in certain and limited lime for it, like: Chicken Keraage Don and ice lemon tea for only RM7. 90 As manager will be considered in a few points when setting the bundle pricing strategy: Customer demands, sort out which is the product of the guests prefer or like it. Customers always pursue cheaper price, Target profit; make sure will reach the target. 4. 0 PLACE OF SUSHI ZANMAI Location is very important to those in Food and Beverage industry, as the product they sell is shopping product, the customers should not be able to take far complications to reach their shop. Normally, Sushi Zanmai chooses to open their new outlet inside the shopping mall that those people visit regularly. Below as those outlets of Sushi Zanmai in Malaysia : †¢SUSHI ZANMAI, SUNWAY PIRAMID †¢SUSHI ZANMAI, LOW YAT PLAZA †¢SUSHI ZANMAI, 1 UTAMA †¢SUSHI ZANMAI, THE GARDENS MALL †¢SUSHI ZANMAI, FAHRENHEIT 88 †¢SUSHI ZANMAI, 1 M ONT’KIARA †¢SUSHI ZANMAI, PARADIGM MALL One of the outlets of Sushi Zanmai in K. L Distribution Sushi Zanmai’s distribution channel is a direct channel as they are selling their product directly to the customers. Their distribution channel is considered as a direct channel, and it is the best suitable method to do for selling sushi, udon and beverage to the customers. As Sushi Zanmai are being in food and beverage industry, the best way to serve their customers is by serving them nicely and directly. The shopkeepers who are preparing meal in front of the customers 5. 0 PROMOTION OF SUSHI ZANMAI Sushi Zanmai are using promotion methods which are Advertising and Sales Promotion. For advertising promotion purpose, they have created a web page over the internet that those people could get the information which about them with visiting their web page. Other than that, for the reasons of nowadays most of the people are having an account on facebook, so that they have created a facebook web page to be distributed among the facebook page. The facebook users or customers might do a feedback or recommendations that about them through their facebook page. Web page of Sushi Zanmai Sales promotional sets will be made to promote their products to let the customers try and enjoy their product and to create strong customer relationships by promoting personally and friendly service. Their popular promotional methods are: Have 50 % discounts for only these 4 types of items. The duration of this promotion is just for one week. Sushi Zanmai have did the promotion that shown as above. The customers will get a Chicken Karaage Don for only RM 6. 80 after finish the steps that set by them. Free RM 20 Sushi Zanmai voucher for those customers whom spend RM100 or above in any of their outlets. The duration for this voucher is just for one month. 6. 0 Improvements in 4p’strategies of Sushi Zanmai Product Sushi Zanmai should activate the strategy of product development and come up with new products from time to time as it is important to maintain the preference of the customers with the new developed products. For example, the organization can come up with new type of rice and new sushi flavour or developing new menu items in single orders such as Udon and etc. Place Shopping mall actually is a not bad idea for open a restaurant but also need to careful about the visibility. A restaurant that is located on a crowded place has high visibility. Conversely, a restaurant nestled on a not crowded place will always battle a disadvantage simply based on its location. Pricing Sushi Zanmai should be try not setting too higher price to attract more other guests purchase your product and also can earn more profit. Promotion Sushi Zanmai can also be improved by creating more value sets that prompts the customers to try out the new products made for specific period as a special promotion during particular season such as Valentine’ Day and Merry Christmas or holiday season value sets for example Advertising on TV Sushi Zanmai shoud has advertising on TV. Television is the most powerful advertising medium available. The largest corporations around the world use it to build their brands, bring customers, add credibility, and grow their businesses. Delivery Services Add delivery services. It can help a company gaining popularity and becoming more available. 7. 0 Conclusion In conclusion, i would like conclude by listing the 4p’strategies that regarding of is price, place, promotion and product. They are offering the combination of tangible goods and services in their business. In setting pricing the Sushi Zanmai is using price skimming for their products. For the place and distribution, The Sushi Zanmai is use direct as their channel. Moreover, the Therefore, Sushi Zanmai should improve its product quality and take considered action in order to improve the sales as expected.
Thursday, January 23, 2020
Wedding Speech by a Childhood Friend of the Groom -- Wedding Toasts Ro
Wedding Speech by a Childhood Friend of the Groom Good afternoon, ladies and gentlemen. On behalf of the bridesmaids, I would like to thank Scott for his kind words. For once in my life, I find myself agreeing with him - they look stunning and did an excellent job today. For those of you who don't know me, my name is Jason. I’ve been Scott’s best friend for nearly 20 years. I’ve known him for a similar period. And all the time we’ve spent growing up together means that he’s had as much of a part in developing my sense of humor as anyone. So, while I have tried to make this speech funny, it’s his fault if it’s not. I have very fond memories of growing up with Scott. I’ve been his partner in crime on many a wild occasion and, in quieter times, a close confidant to whom he could tell almost anything. And I do mean anything – which has provided me with ample material for my speech this afternoon. Although I did agree not to divulge any details of the stag night, like about the Danish stripper he got chatting to in the hotel bar. So I won’t. Scott and I have done many things together during our almost life-long friendship – although they’re probably not quite as interesting to relate as the story about that Danish stripper, but I gave him my word on that one. Anyway, over the years we've built go-carts together, rode our bikes together, played football together, bunked school together, tried to... ...r. And I, as much as all of you, want that happiness for myself. Er, sorry, I mean, I want their happiness to last forever. And I do. So although I’m not actually married myself [turn to bridesmaids again], I thought it might be helpful if I offered them each a little piece of advice. Pamela: no matter how far away you are from your loved one, when you’re married, you’re never alone - because you know where my flat is. And Scott: getting married bestows upon you many, many obligations. But remember, foreplay is only optional. Ladies and gentlemen, on a final and serious note, please be upstanding and raise your glasses to my very best friend and his beautiful new wife. To Scott and Pamela.
Wednesday, January 15, 2020
Financial Analysis of Competition Bikes Essay
Financial Analysis of Competition Bikes Introduction            In financial analysis a complete assessment of a business organization covering competitiveness, profitability, liquidity and stability concerns. Financial analysis of a business is undertaken by reviewing the business’ financial statements. Summarized financial statement reports are frequently presented to executives and top managers for setting up business goals as well as making decisions. Analysis of the financial statements of Competition Bikes demand evaluation of the internal operation focusing on vertical, horizontal, ratio and trend analyses and the working capital. These evaluations communicate profit margins enabling projection of budgets and restraining sales and costs potential. Annual comparison of production performance subject to profit versus overhead helps in forecasting of budgets for production ingredients on a monthly basis (Shim, J. and Siegel, J. 2009). Competition Bikes Horizontal Analysis            This is the examination of percentage changes in comparative statements of a business. In this case, it is the evaluation of Competition Bike’s comparative statements between the year 6 and 7 as well as 7 and 8. The horizontal analysis chart helps in indicating the value of accounts payable differential in year 6 and 7 as well as year 7 and year 8. The company’s net sales soared up by 33.3% between year 6 and 7 at $1,495,000. However, net sales differential between year 7 and 8 was a negative implying that sales decreased by 15% at $897,000. Therefore, it is essential that Competition Bikes increases annual sales to reap higher profits. The value of gross profit registered was a negative figure of $266,600 equivalent to 16.3% decrease. Interestingly, the company registered a 37.5% gross profits increase between year 6 and 7 at $447,000.            The time period between purchasing of raw materials, manufacturing and distribution of goods is referred to as the operating cycle. The net period in collection of receipts from payments and sales is the cash conversion cycle for the different ingredients consumed and produced by Competition Bikes. The company witnessed a decrease in the operating cycle between years 6 and 7 from 50.52 to 48.00 days. This is explained by the increased growth of sales relative to the inventories growth rate. The cash conversion period between year 6 and 8 was relatively negative. This is because Competition Bikes Inc has a high liquidity owing to the short receivables period supplemented by a lengthy payable deferral period. It is indicative of the efficient management of the company’s resources.            The aggregate of administrative and general expenses between year 6 and 7 increased at $156,440 equivalent to 20.4% increase. However, the increase between year 7 and 8 was significantly lower at $11,004 equivalent to 1.2% increase. Still, Competition Bikes Inc operating income between year 6 and 7 increased at $191,820 equivalent to 154.6% increase. However, this parameter decreased at $318,392 equivalent to 61.9% decrease. Higher profits were registered between year 6 and 7 relative to year 7 and 8 which registered a dcrease in profits.            In addition, the company’s cash account differential between 6 and 7 was a decrease of $142,451 equivalent to 54.6%. However, this differential increased between year 7 and 8 at $326,475 equivalent to 275.4%. The net liabilities difference between year 6 and 7 was $128,620 equal to 1.2% increase. According to horizontal analysis, the total liabilities differential from year 6 to 8 was a decrease at $35,500 or 1.9% (Brigham, E. and Houston, J. 2007).            Still, Competition Bike’s common equity differential between year 6 and 7 was a 2.9% increase equating to $119,914 increase. Horizontal analysis of the same parameter indicates a fall between year 7 and 8 equal to $2,400 or 0.1% decrease. Since year 7 and 8 registered a lesser loss comparative to the gain between years 6 and 7, Competition Bikes Inc. broke even in the former years from the aggregate of year 6 and year 7. Competition Bikes Inc Vertical Analysis            In vertical analysis, an exploration of a company’s statement of financial position is considered to validate each element comparative to the total assets as a percentage. For the income statement, vertical analysis involves exploration of the various variables subject to total sales. This analysis helps in evaluation of the financial performance of Competition Bikes Inc with time. The tabulation below indicates the Vertical Analysis of the Competition Bikes Inc’s Balance Sheet Account elements Year 6 Total assets ($4,199,303) Year 7 Total assets ($4,319,217) Year 8 Total assets ($4,316,817) Notes and accounts Payable 1.6% 4.5% 6.1% Accrued Salaries and other expenses 0.4% 0.3% 0.3% Accrued Expenses 0.5% 0.6% 0.6% Mortgage 42.9% 39.4% 37.1% Long term Liabilities 2.1% 2.0% 1.9% Stockholders Equity 52.5% 53.3% 54.1%            Competition Bikes Inc Vertical Analysis assesses the liabilities, equities and assets of the company. Overall, the operating expenses fluctuated in little figures indicate a strong internal control policy. Therefore, there was little depreciation on the company subject to the operating sales versus costs. The proportion of liabilities decreased over the three years indicating an improved ability in Competition Bikes Inc to settle debts. The proportion of common equity relative to debts increased over the period signifying a growth in the net capital of the company. Competition Bikes Trend Analysis            This is the evaluation of the financial performance of a business over time. Firstly, Competition Bikes Inc balance sheet figures increased tremendously between years 6 and 8. This signifies growth and expansion trend in Competition Bikes. On average, the company grew at 3.3% which is a sustainable growth rate. Over the three years, the sales dropped significantly and especially between year 7 and 8. Nonetheless, the profit margin was relatively strong due to little fluctuations in overhead costs such as materials, productions costs and carrier fees. Therefore, it is potentially possible that the future sales in years 9, 10 and 11 high provided the company maintains the current growth and expansion rate.            Based on trend analysis, it is anticipated that the company’s sales in future will remain strong. This inspires the shareholder to invest more in the company over the next three years. Profits are anticipated to increase at 103.2%, 107.6% and 111.8% over the next three years respectively. In additional, further prodding of the company’s financial statements indicates a declining rate in sales growth rate. For instance, the company sales increase at 8.65% between year 6 and 7 as well as 9.85% between year 7 and year 8. Nonetheless, the significantly small sales growth rate is associative to higher boost in net income which rose by 12.82% and 14.46% in year 7 and 8 respectively. Competition Bikes Ratio Analysis            It is the determination of the past years financial performance relative to other companies ratios, trends as well as those of the company/business under review. These ratios include liquidity, profitability and efficiency ratios.            Liquidity ratios extracted from the statement of financial position determine the ability of the business to pay its debts at and as when they fall due. The fractions are significantly important in computation of the business ability to meet its short term and long term financial obligations and goals. Quick ratio is computed by dividing quick assets by current liabilities. The company registered a low quick ration of 3.11% and 3.21% for years 8 and 7 respectively. This is because as a motor bike retailer, the company must hold high levels of inventory meaning that most of the working capital ends up tied. Considering that the company enjoys a small inventory turnover ratio, this is not a worrying level.            Efficiency ratios include the inventory turnover ratio and the average collection period. The former is obtained by dividing total sales by total inventory. This ratio indicates the efficiency and the rapidity with which the company manages to sell its bikes. In year 7 and 8, the company’s inventory turnover fell from 46.7 to 45.9 indicating decrease strength in paying off debts. The latter ratio is the anticipated period of cashing owed receivables from clients. Competition Bikes Inc current average collection period is 102.6 days. It is not an ideal duration because it implies delayed conversion of receivables into cash for clearing debts and expenses.            Profitability ratios include return on assets and gross profit margin. The former ratio assesses the aptitude of Competition Bikes to raise revenue from its assets. The company’s return on asset parameter in year 7 and 8 was 4.52 and 4.25 respectively. The gross profit margin at the same period was 27.4% and 27% respectively. However, this was a 4.7% drop from the previous 5.3%. The fall in profits translates to poor operations and hence the need to evaluate the company’s strategies. Competition Bikes Working Capital            This is the difference between the current assets and the current liabilities. It is important to a business because it determines the available resources for increasing production, hiring additional staff, merging and buying out other companies as well as investing in expansion projects. The company had a working capital of $2,123,000 and $1,768,000 in year 7 and 6 respectively. The increased values in working capital indicate an advanced working capital over the three years. Internal Control Strengths and Weaknesses            These are predominant in the accounts departments. The company has adequate resources to finance its operations now and into the future. This is because all activities are adequately covered financially. Besides, the company boasts a readily available clientele with a potential to attract additional clients. The company maintains a check and balance system to control sales, purchase and cash management translates to a strong internal control system.            Corrective action in weaknesses lists changes to be made to enhance completion of targets and achieving of total significance in a business. The operations and management for implementation are executed by the management to ensure resolution of identified weaknesses. When the firms adopts a tracking system, execution of identified strategies top resolve the deficiencies is easily executed. Corrective actions were installed to improve production and purchasing deficiencies. This is to help in constant inquiry as well as cooperation among various departments in the business. Risks            Businesses face constant risks and threats and therefore, it is important to identify, address and mitigate the risks. Competition Bikes is susceptible to numerous risks such as increased competition resonating to low profit margins. Therefore, the company must strategize on maintaining and attracting additional clients. Still, the internal controls are a threat to the company. Impromptu competition between purchasing unit and the accounting department may result to delay in payment of invoices. Proper communication lines must be set within the company to address broken communication. Compliance            Competition Bikes Inc compliance with Sarbanes-Oxley is indicative of the stringent monitoring controls that the company has installed for internal auditing purposes. This assures stakeholders of the efficient management of the company as well as in compliance with different regulatory framework. Compliance entails provision of an admirable working framework such as motivation of employees, retention of skilled labor and recycling of products. Recommendation            Considering the past performance of the company, it is recommended that the firm must maintain a sound internal control system. This will report deficiencies such as weaknesses in financial reporting. It will help in securing a lock tight financial recording and documentation. Closer monitoring and evaluation of the excess raw materials and manufacturing surpluses will be maintained in reasonable amounts reducing overspending and potential theft. References Bateman, T. S., & Snell, S. (2013). M: Management. New York, NY.: McGraw-Hill Companies. Internal Control Systems. (2011, July 4). Committee of Sponsoring Organizations of the Tread way Commission (COSO). Retrieved December 12, 2013, from http://www.coso.org/documents/COSO_ERM_ExecutiveSummary.pdf.Kieso, D. E., & Weygandt, J. J. (2012). Intermediate accounting (9th ed.). New York: Wiley. Shim, J. K., & Siegel, J. G. (2012). Schaum’s outline of financial management (2nd ed.). New York: McGraw-Hill. Source document
Monday, January 6, 2020
Subscribe to:
Posts (Atom)