Marketing Is The Life Blood Of Any Organisation Marketing Essay

Marketing Is The Life Blood Of Any Organisation Marketing Essay When people think of marketing, most would immediately think of it as a business trying to get the consumer to purchase its products. However the concept of marketing and the marketing process is much more complex than that assumption. Today, practically everything is marketed to some degree. The marketing of goods is the most obvious one, however you can consider places to be marketed, think of the government ministers mass exodus every saint patricks day under the guise of marketing Ireland to the rest of the world! Organizations, such as colleges and universities market themselves to prospective students. Sporting events such as the Cheltenham race festival or the six nations rugby engage in marketing. Even people are marketed as Kotler points out, some people have done a masterful job of marketing themselves- think of Madonna, Oprah Winfrey, the Rolling Stones, Aerosmith and Michael Jordan (Kotler, 2006 p8) The American Marketing Association defines marketing to be marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large AMA. (2007) Definition of Marketing. Available: http://www.marketingpower.com/aboutama/pages/definitionofmarketing.aspx Last Accessed 10 March 2010. As I previously stated the process of marketing is much more than a vendor trying to convince a consumer to purchase their product. It is about delivering value to the consumer, satisfying customer needs, meeting or exceeding customer expectations, creating strong brand identity, winning new customers and retaining current ones and companies being able to adapt to changing market conditions. The process of marketing occurs in a dynamic environment (Bradfield, 2010), that is constantly changing, however a core concept in the marketing process is the so called marketing mix or the 4 ps of marketing, first referred to by Jerome McCarthy in 1960. Available: http://www.youtube.com/watch?v=KkBvzS_fJ2gfeature=related Last Accessed 11 March 2010. The marketing mix refers to product, price, place and promotion. When you talk of a product or service, you have to offer a product that fits the need of the consumer. Today, consumers have more choice than previous generations and are more demanding. It should satisfy other criteria such as product durability, product differentiation, i.e. what makes your product stand out from the crowd, what features does your product have, is there after sales care/warranties etc. The price of the product being offered has to take into account how much customers are willing to pay for your product and for the producer to make a profit. This is a dif ficult question to answer as a product that is priced too high in relation to other products may not sell well, however sometimes a higher price in the minds of consumers equals better quality for which some consumers are prepared to pay a premium for. But on the other hand a product that is priced too low, possibly on the assumption that it will win on price alone, may not sell well either as it is considered inferior to other similar products due to its low price. The place in the marketing mix is all about how the product or service gets to the consumer. It must be convenient for the consumer to access the product. This element of the mix is evident in the rise of businesses like Amazon.com that allow consumers to shop for goods 24/7 and have the goods delivered to them. And the last element of the mix, promotion refers to how the consumer is made aware that the product exists, of the benefits it can bring to them and the value of the product. As I said at the beginning of the paragraph marketing occurs in a dynamic environment and marketing thought is constantly changing. It must be pointed out however as Gareth Morgan shows in his book Riding the waves of change, that the 4ps takes the view from that of the producer, in that everything in it is from their point of view. Whereas marketing thought today tends to put the consumer at the centre and everything is geared towards meeting their needs rather than that of the producer. From a marketers point of view, it is impossible to satisfy everyone all of the time so marketers engage in what is called market segmentation. A market segment consists of a group of customers who share a similar set of needs and wants.(Kotler, 2006 p240) When marketers identify a market segment they can they target their efforts on that group. Markets can be broken up on a number of different basis. The process of market segmentation In marketing a product or service an organization can follow a mass marketing strategy or it can use the process of market segmentation. The mass marketing strategy(tied into the production concept, which I will detail in the next section) is probably now an outdated method of marketing for most products due to the sheer variety on offer to consumers. In pursuing a mass marketing strategy, a company targets a market as whole and offers the one product or service to the whole market. The company hopes for higher profits by engaging in mass production and mass distribution techniques, thereby lowering its overall costs. Examples of previous mass marketing strategies was Coca Cola who at first only produced one size bottle of coke. (Kotler, 2003, p279) The market segmentation process is what is practiced more commonly today. A market segment consists of a group of customers who share a similar set of wants. (Kotler, 2003,p279) In defining a market segment, Kotler talks of a seven step process. The first step is to group customers who have a similar needs. For example with cars you can identify groups who have a need for people carriers. The next step is for each identifiable market segment to break it down further by classing it according to other variables such as demographics(gender, race, age etc), behavioral patterns(usage, user status etc), and geographic variables. The third and fourth step combined is to take each segment that has been broken down and to establish how attractive each segment is to the organization based on factors such as profitability and segment size. Step five, after identifying a particular segments unique needs, the company must set forth a set of benefits to satisfy those needs (The product of the marketing mix) and it must determine a price for the product. The sixth step is to determine the attractiveness of each segments positioning strategy and finally to expand the positioning strategy to include the whole marketing mix. Marketing Concept The marketing process is all about the customer. The philosophy that the customer is king and is the core of the business. Kotler again speaks of six competing concepts under which the process of marketing is carried out. They are the production concept, product concept, marketing, selling, customer and societal concepts. The production concept is as I said previously tied in with mass marketing. The production concept does not take into account the consumers needs, rather it focuss on building a product and then trying to sell this to the consumer. The production process favors low cost due to high volume manufacturing. The product concept concentrates on building better quality products, with more features in the belief that is what consumers want. The selling concept is probably the concept most people equate with marketing. This is where a producer actively tries to sell its goods/services to consumers through advertising and aggressive selling. The risk with the selling concept is producers hope that consumers who do fall for the hard sell, will actually like the product. Obviously consumers may like the product and return to do more business but on the other hand they may hate it and actually bad mouth the product to friends. The marketing concept is more customer orientated than the previous concepts. Here the customer is king and everything the business does is centered on the needs of the customer. Marketing Plan BarryDoyleDesign Jewelers 1.Executive Summary Barry Doyle Design(BDD) Jewelers is a husband and wife operation that has been in business for several years. Barry has learned the trade from his father whilst Adrianna is a qualified gemologist. It specializes in custom made high end jewelery as well as holding a range of contemporary and Celtic themed stock jewelery. The business has targeted the wedding sector quite successfully in the past and through its website is also chasing international customers, especially those of Irish ancestry who would be interested in its Celtic line. 2. Situation Analysis BDD Jewelers products have been very well received and they have a percentage of returning customers. To grow the market, product awareness is called for through marketing at trade exhibitions and wedding fairs, an upgraded web site and a more visible shop location, funds permitting. The key target markets are couples seeking to marry, individuals looking for a unique product and those who make one off purchases for special occasions etc and to expand the business through targeting of galleries willing to stock the production jewelery. Due to the weakness of the US Dollar against the Euro in the last year, international sales has been slow, however with the expectant rise in the US economy that situation is expected to revert to past positive performance. The wedding market remains stable with modest growth forecast for the next year. 3. Market Demographics Due to the the firms use of the Internet, it has no defined geographical area. However a rough estimate is that 70% is from the domestic market while 30% make up the international side. The customer base is evenly split between men and women. The largest age group who make a purchase is those in the 25-40 bracket and in the middle to high income bracket. 3.1 Market Needs BDD Jewelers provides its customers with a wide variety of jewelery. As a business it seeks to provide to its customers jewelery of the highest craftsmanship coupled with unique and contemporary designs. A first class after sales service is provided, jewelery resizing and jewelery repair. 4. SWOT Analysis Strengths Good reputation among customers Central location Quality Workmanship Good access and relationship with suppliers Weaknesses Poor shop visibility Limited marketing budget in comparison to larger retailers Due to business size possible problems in meeting supply requirements Opportunities Government incentives for small business Threats Economic slowdown can have a negative effect on the amount of discretionary income people have for luxury items Inferior quality products 5. Market Assumptions The fore casted market growth in the sector for the the next 3 to 5 years is 9%. The threat of new custom made jewelers to the market remains small, due in part to the high skill involved and start up costs, however the larger jeweler chains may become more aggressive in their pricing and marketing which could affect sales of our stock production lines. 6. Strategic Intent The businesses core marketing objectives over the next year is to make inroads into getting the stock production line into third party retailers such as niche high end jewelers (galleries)and to develop the wedding market with more visible promotion of the business at wedding fares. An overhaul of the website is required to make it look more appealing. In the mid to long term, a new future premises is needed(most likely in the same general area) with more exposure to pedestrian traffic. With projected growth in the business, the employment of more skilled craftsmen to met demand for the custom designed jewelery side of the business. The possibility of forming partnerships with Irish distributors in the US market with the help of the IDA. 7. Marketing Mix Strategies BDD Jewelers marketing mix is made up of the following A. Product..Will strive to produce the highest custom made jewelery alongside a more affordable yet equally high quality range of stock jewelery. B. Price..Will vary according to specific customer requirement such as gemstones for the setting or the level of detail required. In the stock range, price is comparable to major retailers. C. Promotion..Due to high return for custom designs, it is felt that an increased marketing campaign be engaged upon. This will be achieved through magazine advertising, networking, website links, the yellow pages and trade/fashion shows. D. Place..For internationally received orders, delivery is via UPSFedEx express delivery. Domestic orders can also be shipped with tracking or can be picked up in store. 8. Sales Forecast In year one, months 1 to 3 will be spent trying to establish a foothold within the gallery market. It is expected after month 3 sales to this sector will begin incrementally. Within a three month period sales will be rising also in the wedding market sector due to an increase in the visibility of the business at wedding fairs and an advertising campaign in magazines etc. 9. Implementation In order to achieve desired results, the following milestones must be met on time and in budget. A. The development of the plan B. Identify the channels to be used in the marketing plan C. Establish a review process

First Accomplishment in My Life Essay

It is so difficult to live in the United States, the land of opportunity, without education and the English language. Without these two things, our lives seem like meaningless. My family is one of the victims of this problem. Two years ago, when I was a senior student in high school, I almost could not graduate from high school with diploma in hand because of failing the exit exam twice and my lack knowledge of English. At that time, I really wanted to give up and ended my education at that level, but the encouragement of my parents had helped me go through this challenge to succeed the first accomplishment in my life. The first challenge started out when my family immigrated to this country. Indeed, living in an unfamiliar place is not easy at all. Everything is totally different from my own country such as the weather, culture, food, communication, and education. My first educated place in America was Rancho Cordova High School which is located in Rancho Cordova county of California. Truthfully, when I first began to learn English with eleventh grade in High school, I was just like a deaf and mute person in the class. I didn’t understand what people were saying, and of course I could not speak English as well as people here. The second day of school, I carried the schedule around the school with innocent face and lost my direction to get into the classes. At that time, I even could not express my feeling by asking the only basic question such as â€Å"Would you please tell me how to get into this class.† In that moment, I recognized myself was an alien who came from another planet. My feeling was so down, and I felt so lonely in the world. One day, when I was sitting alone in the bench at school, a white girl with a pretty blond hair whose name is Sarah dropped by to say hi and wanted to make friend with me. She asked me whole bunch of questions, but I didn’t know how to response. After few minutes, she knew that I couldn’t speak English, and she just walked away. I almost cried out in the public, and I felt myself so stupid. Time by time, I began to be familiar to the new life and my studying at school. At that moment, the goal of graduating from high school was important than anything in the world. This is not only my dream and also a significant promise to my lovely parents, because I wanted them to be proud of their only daughter in the family. Besides that, I wanted to bring an honor to my family, take fully care and support sufficiently for the rest of their life with certain status in the community. A year later, the last year of high school, I should be very happy instead of the anxiety and sadness which were carried on my face. Unfortunately, something happened out of control; everything turned out bad to my goal. The other obstacle had come to me again, and I know that I had to deal with another challenge. In that year, class of 06, the educational law had changed in California. The government had required all the students to pass the California Exit Exam to graduate or we could not walk stage. I was so worried about this problem because I already failed it twice. I only had one more chance to take it in February. Actually, with two years of learning English, this test was really a struggle for me. I totally lost self-confidence at that time. I was so upset about the promise I made. I always asked myself â€Å"what can I do now?† When my parents received the news, they didn’t feel so disappointed about me. Furthermore, they encouraged me to work harder and try all my best to do the exam as good as I can. With their support, I completely got back self-confidence to struggle with the next challenge. The morning of the exam day, I got up as early as I could to prepare spiritedly for the test that will take four hours. When I walked into the kitchen, I could sniff out the smell of delicious sunshine up egg with bread, which is ever my favorite food for breakfast, that mom cooked in the early morning. When I was ready to leave the house, my parents gently said to me that â€Å"Loss is experience of success. Mom and dad always stay behind to support you. Don’t worry! My sweetie† I looked at her with tears in my eyes and said,† Mom, I won’t disappoint you.† After two months, the result of exam was coming on May 10. At that day, when I walked into the counselor’ office to receive the result, my hand was shaking, my heart was pounding so fast, and I entered into Mrs. Tiger’s office with extremely worried face. Meanwhile, she announce my result with smiling face that â€Å"Congratulation, you pass the exam with the score 361†. At that moment, I was so surprise, excited and happy. Rapidly, my tears kept falling, and I couldn’t even hold it. Finally, my dream had come true, and I told myself that I did it. Absolutely, I could have a graduated invitation for my parents. The graduation of my senior year was celebrated at the gorgeous park in Cal-Expo. Obviously, I was so nervous and excited on that big day. There is one scene always store in my mind which was my parents’ joyfulness during the whole night. On that big day, they gave me a really big bundle of red roses. For me, whatever presents which I had received are not valuable than their happiness. After I went through this difficult time, I recognized that it was only the threshold of my life. For an English learner like me, I know that there is more obstacles will happen in the life of college. Therefore, it helps me to prepare more strength and spirit to struggle to a lot of other challenges in college. Besides that, I also received the valuable lesson of two characters that a person need to have which are persevering and hard working are so important for us. These both characters will lead us to the way of success. Also, the most valuable lesson I had learned from this challenge that parents is extremely part of my life; my parents are ever significant people in my life because they are always by my side to support me whenever I overcome the challenge or difficult problem. Without them, there is no life at all for me.

Shang Dynasty And The Roman Empire Primary Sources

Prompt 2: Shang Dynasty and the Roman Empire Primary Sources Historians depend on textual, artistic, and archaeological evidence to create narratives about various historical cultures. By analyzing primary sources, historians can determine what type of society existed, what forms of government were in power, and even what society held to high standards, such as honor. Certainties about the Roman Empire, in Europe, experiencing civil unrest, eventual re-installment of the Republic, and expectation of its citizens are supported by the primary source, â€Å"The Rape of Lucretia.† Alternatively, certainties about the Shang Dynasty, in East Asian, utilizing religion and politics together to determine natural phenomenons in life are supported by the primary source, â€Å"Shang Oracle Bones.† Ultimately, primary sources give a pretty clear and reliable picture as to how society functioned during the time periods that are being studied. The primary source, â€Å"The Rape of Lu cretia† written in 17 AD by Roman historian named Livy, who authored The History of Rome. The story is a form of propaganda that criticized the Roman monarchy while encouraging the reinstatement of the Roman Republic. The narrative depicts the rape of an honorable woman named Lucretia, who was admired for her humble, modest, hospitable, and dutiful nature. Tragically, she was raped by one of the emperor’s sons, Sextus Tarquinius. After she confides in her husband, father, and family friend Brutus about the Sextus’s crimeShow MoreRelatedAp World History Units 1-3 Study Guide Essay4374 Words   |  18 PagesRoad trade * Advanced use of technology 32. Which of the following mathematical concepts, essential for positional notation and the manipulation of large numbers, was invented by Mayan mathematicians? * Zero 33. The ultimate source of wealth in any agricultural society is * Land 34. This passage from the Upanishads explain what Hindu concept? â€Å"According as a man acts and walks in the path of life, so he becomes. He that does good becomes good; he that does evil becomesRead MoreWorld History AP8768 Words   |  36 Pagesin the empires described in this chapter? †¢ All empires controlled large areas and populations. †¢ All empires were brought together by conquest and funded in part by extracting wealth from conquered peoples. †¢ All empires stimulated the exchange of ideas, cultures, and values among the peoples they conquered. †¢ All empires sought to foster an imperial identity that transcended more local identities and loyalties. †¢ All empires ultimately collapsed. 2. In what ways did these empires differ fromRead MoreCountry Note Book of China17054 Words   |  69 Pagescontinued for centuries, was established as early as 221 BC. Although specific dynasties were overturned, the dynastic system survived. China was even ruled at times by foreign invaders, such as the Mongols during the Yuan Dynasty, from AD 1279 to 1368, and the Manchus during the Ching Dynasty, from AD 1644 to 1911, but the foreigners were largely absorbed into the culture they governed. It is as if the Roman Empire had lasted from the time of the Caesars to the 20th century, and during that timeRead MoreMuseums Essays10752 Words   |  44 Pageswhere visitors can be entertained, inspired, and introduced to new ideas. Museums enrich local cultural life and make communities more appealing places to live and to visit. For  society  as  a  whole, museums provide valuable intangible benefits as sources of national, regional, and local identity. They have the singular capacity to reflect both continuity and change, to preserve and protect cultural and natural heritage while vividly illustrating the progression of the human imagination and the natural

Boston Conservatory at Berklee Acceptance Rate, SAT/ACT Scores

Boston Conservatory at Berklee is a performing arts conservatory with an acceptance rate of 33%. In 2016, The Boston Conservatory (renamed Boston Conservatory at Berklee) merged with Berklee College of Music and the two became known as Berklee. While the schools have merged, each school has an Independent admissions and audition process. Founded in 1867, Boston Conservatory at Berklee one of the oldest performing arts institutes of higher education in the country, The campus is located in the Fenway-Kenmore neighborhood, home to several other colleges and universities as well as many of Boston’s cultural treasures. The conservatory strives to maintain a selective, intimate learning environment with very small classes and a student/faculty ratio of just 5-to-1. Academics are divided into divisions of music, dance, and theater; students can pursue bachelor of fine arts and bachelor and master of music degrees in a range of concentrations. Campus life is active, with students participating in dozens of clubs and activities as well as more than 700 performances each year at the conservatory and locations across the city. Considering applying to this selective school? Here are the Boston Conservatory at Berklee admissions statistics you should know. Acceptance Rate During the 2017-18 admissions cycle, Boston Conservatory at Berkley had an acceptance rate of 33%. This means that for every 100 students who applied, 33 students were admitted, making Boston Conservatorys admissions process highly competitive. Admissions Statistics (2017-18) Number of Applicants 1,711 Percent Admitted 33% Percent Admitted Who Enrolled (Yield) 27% SAT Scores and Requirements Boston Conservatory at Berklee does not require SAT or ACT scores for admission. Applicants may choose to include SAT or ACT scores if they believe they will add value to their application. Requirements Although not required for admission, applicants to Boston Conservatory at Berklee College may submit SAT scores to supplement their application. The writing section of the SAT is not required. ACT Scores and Requirements Boston Conservatory at Berklee does not require SAT or ACT scores for admission. Applicants may choose to include SAT or ACT scores if they believe they will add value to their application. Requirements Although not required for admission, applicants to Boston Conservatory at Berklee College may submit ACT scores to supplement their application. The writing section of the ACT is not required. GPA Boston Conservatory at Berklee does not provide data about admitted students high school GPAs. Admissions Chances Boston Conservatory at Berklee, which accepts just a third of applicants, has a selective admissions process. The most important factor in admissions is the audition. Interested applicants are encouraged to review the audition requirements for their intended major. Applicants with the necessary artistic talent are evaluated holistically by the admissions committee. The review process considers grades, test scores, letters of recommendation, and essays in making admissions decisions. Most successful applicants have above average high school GPAs and a  rigorous high school course schedule  including AP, IB, and Honors courses. All applicants must also submit an artistic resume and complete a virtual, online interview. If You Like Boston Conservatory at Berklee, You May Also Like These Schools: Applicants interested in schools with a strong performing arts or music program should also consider Berklee College of Music, Boston University, The Juilliard School, and Carnegie Mellon University. All admissions data has been sourced from the National Center for Education Statistics and Boston Conservatory at Berklee Undergraduate Admissions Office.

Plastic Is The Major Staple Of Everyday Life - 1291 Words

Take a look around, plastic is everywhere. From the cars that we drive, to the containers that our food comes in. Nearly, everything we come in contact with contains some sort of plastic. This source has simplified our lives in various ways and has become a major staple of everyday life. We use it for entertainment, communication, and to save lives. But, no matter how convenient plastics are, they still seem to do more damage than good to ourselves and the environment. Plastics were not always made from refined oils and gases like they are today. In 1869 inventor John Wesley Hyatt created and patented a new material named celluloid. Celluloid was made from the cellulose in cotton, a natural polymer. Today plant cellulose is being looked at as a base material for a greener plastic. This early plastic was able to be made into many colors and molded into an array of shapes. It took the place of many natural resources that were becoming scarce, such as ivory and tortoise shells used to make combs. In the beginning, making items from celluloid was labor intensive. Items had to be molded in small batches and hand polished. It was also unstable causing factories to catch fire. (freinkel) The invention of synthetic plastic forever changed culture and the environment. In 1930s, during the German war, scientist were ordered to make something that was cheap and durable. Since then plastic has dramatically increase. â€Å"Plastic production grew from making 2 0 million pounds in 1927 to 650Show MoreRelatedNegatives And Negatives Of 3 D Printing1347 Words   |  6 Pagespossible positive and negative impacts in the future. 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Things to Know About Dissertation Editing Services Free Essays

Often, people wonder whether there Is a need for dissertation editing services. Let us put It simply. Everyone needs dissertation tattled services when they need to make a dissertation. We will write a custom essay sample on Things to Know About Dissertation Editing Services or any similar topic only for you Order Now Making and writing a dissertation Is one of the most Important things to excel at In an academic career. You need to understand that dissertation is always reviewed minutely by the academia. You need to have proper references and give proper credits. The dissertation should be organized and structured properly. There should be a proper low of thought. More, you need to ensure that the layout and flow of thought is properly able to explain the subject matter. No wonder you may need to hire an expert to check everything – there are far too many things to check after all! Editing service for students Dissertation tattled services Is what every student needs as after they complete their dissertation they need to get It edited to give It the final touch. However, there are certain things that one should know about before getting such services done. . It is important to know that the dissertation editor you are going to hire has a thorough knowledge of your subject and related writing and understands the subject really well. It is only then that he will be able to offer perfect services without leaving out any mistakes. 2. You must ensure that your dissertation editor understands the process of research and also knows what the grounds are on which a committee can reject or approve your dissertation. He needs to work keeping these factors In mind and get all the acts right, to make sure your dissertation gets approved. 3. Before hiring a dissertation editor, always check the market to find out the best options available. You should not hire an editor who overcharges you or one who charges you very little for incomplete or imperfect work. Make sure that the dissertation editor you hire asks for reasonable charges while offering perfect services for your hard work. 4. Another thing to know Is that when getting such services done, you must be sure hat your editor will work on a professional level where he will not only change all the inappropriate and wrong wordings and correct them but also correct all spelling errors, punctuation mistakes and grammatical errors and format the entire work appropriately. The editor you hire for the same must have a great command over the language in which the dissertation is written or else his own mistakes and improper knowledge will reflect in your work and get it rejected by those who check it. More info – http://www. Grahame. Com/dissertation-editing-services/ How to cite Things to Know About Dissertation Editing Services, Essays

Financial Forecasting - Analysis and Modelling

Question: Discuss about the Financial Forecasting, Analysis and Modelling. Answer: Introduction In this report, an attempt is made to analyze the scope and performance of the business of PG. The PG is one of the fastest growing and largest consumer goods company in India. The company was established in the year 1964 and it currently serves 650 million customers in India. The company has presence in different product segments of Beauty, household care segment and many other popular brands. The technological innovations of the product have enabled the company to achieve the market leadership in the majority of the product segments. The company is engaged in the sustainable growth and has been able to create more than 26000 jobs. The main aim of this report is to analyze the performance of the company and to calculate the value of the business in order to make a recommendation the investor about the investment in PG. Corporate Governance The Corporate Governance deals with the interaction between the management, member and the board of directors to ensure that the interests of the stakeholders are protected against the selfish actions of the management. The corporate governance is important to ensure that the measures implemented by the company are employed in such a manner that it fulfills the expectations and aspirations of the stakeholders[1]. The components of the corporate governance are the policies, laws, procedures implemented by the company and the proper utilization of the assets of the company. It can be said that the corporate governance is considered to be at its highest point if the management behaves and functions as long-term investors. The PG has been historically operating with integrity at both the external and internal level. The actions of the company and its employees functions in accordance with the purpose, values and principle of the company. The company is committed to operate responsibility and it is reflected in the financial discipline and corporate governance that have been implemented by the company[2]. The company ensures that the responsibility of observing the corporate governance is shifted to the key employees of the company. The company has issued a standard of corporate governance in the World Business Conduct Manualand every manager is required to abide by the standards provided in the manual. This implementation of the manual puts forward the commitment of the management to conduct the affairs of the company in an ethical manner. This manual of the company was prepared based on principles, values and policies of the company that has helped to form specific standards and guidelines[3]. This ma nual has enabled the employees of the company to make easier connection with the policies and tools of the company. This manual provides the worldwide business conduct standard of the company. The standards are based on the core values of company that are given below: Treating the assets of the company as own assets; The business is conducted based on the long term success in mind; The business to be conducted based on the principle of doing the right thing; The business should be operated based on the letter and spirit of the law; The policy statement, policies related to operation and internal controls followed by the company are provided in the Worldwide Business Conduct Manual. The manual provides specific emphasis on the following: behavior of the employees to be ethical, to ensure compliance with the laws, Maintaining the accurate books of accounts and records of the company; The secrecy of the corporate data is to be maintained; The conflict of interest needs to be avoided; Dealing fairly; fair competition among the competitors; ensuring sage and healthy business practices; protection of the environment; The company has earned its reputation by performing the business operation according to the principles of the manual stated above. Therefore, it can be said that the company has performed ethically and has applied all the principles of successfulcorporate governance[4]. Financial performance The financial performance of the company reflects the operational efficiency or inefficiency of the company.The companies that are operating effectively generally have good financial results. If the company is operating inefficiently then it is reflected in the poor financial performance of the company.Therefore it can be said that financial performance measures the effectiveness with which the business uses its assets for generating revenue. It also represents overall financial health of the company and can be used to compare it with the industry standards for comparative analysis[5]. The company can apply various methods to measure the financial performance of the company. The items like revenue from operation, cash flow from operation and operating income of the business can be used to measure the financial performance of the company. In a company, there are different stakeholderslike creditors, investors, managers and employees. It should be noted that different stakeholders have different indicator of financial performance of the company. The purpose of analyzing the financial performance of the company is to provide the stakeholders a view of the financial performance of the business[6]. The analysis of the income statement, the statement of financial positionand the cash flow of PG is conducted below for providing the financial performance of the business.In this report the Tools and techniques that are used for the performance of the financial statement are given below: Horizontal analysis; Vertical analysis; and Ratio analysis In this report the financial performance of the company will be analyzed based on the trend or horizontal analysis. Horizontal Analysis or trend analysis In the horizontal analysis the financial statement are analyzed for number of years. In this technique the figures of the current year is compared with the previous years or base year and it is represented in the form of percentage. It is useful because it helps the management to gain understanding of the strength and weakness of the organization[7]. It is also known as dynamic analysis because it is based on the financial data of various years. The horizontal analysis of the company is given below: Trend Analysis of Income Statement As on 30 June Particulars 2013 2014 2015 2016 % increase in 2014 % increase in 2015 % increase in 2016 Income from Operation 143772 174979 187350 205297 22% 7% 10% Expenses 133600 170039 182174 175934 27% 7% -3% Profit from Operation before other income and finance cost 10172 4940 15176 29363 -51% 207% 93% Other Income 3655 3162 9881 3758 -13% 212% -62% Profit before finance cost 13827 8102 25057 33121 -41% 209% 32% Finance cost 2 36 465 461 1700% 1192% -1% Profit from operating activity 13825 8066 24592 32660 -42% 205% 33% Tax Expense 5109 2924 8779 11357 -43% 200% 29% Net Profit 8716 5142 15813 21303 -41% 208% 35% EPS 26.75 15.78 48.53 65.38 -41% 208% 35% Table 1: Trend Analysis (Source: created by author) The table above shows the horizontal or trend analysis of the company PG. The trend is calculated by taking the figures of the previous year as the base.On analyzing the table it can be seen that income from operations have increased by 22% in the year 2014. In 2015 it has increased by7% and in 2016 it has increased by 10%. Therefore it can be said that there was a significant increase in the income from operation in the year 2014 but after that the growth in income has become marginal.In 2014 expenses has increased by 27% whereas in 2015 there was only 7% increase in expenses. The positive development was that in 2016 the expenses as has decreased by 3% as comrade to the previous years. In the year 2014 there was a significant decline in profit by 51%. However the situation improved in the year 2015 and 2016 as the profit has increased by 207% and 93% respectively[8]. Therefore it can be said that the performance of the company in year 2015 improved significantly as compared to the previous year. In the year 2014 there was significant increase in finance caused by 1700% and in the year 2015 it increased by 1192%. This shows that there have been high use of debt in the capital structure that is used for financing the project. The increased use of debt has increased the finance cost of the company. In 2016 there has been decline of 1% in the finance cost of the company. Though it is insignificant but it may mark reversal of the trend. In 2014 as the profit declined in the same proportion the earning per share of the company also declined by 41% in 2014. The EPS increased by 208% in the year 2015. In 2016 also the EPS has increased. The increased EPS is a positive sign because it indicates higher return for the investors. Trend Analysis of the Financial Position As on 30 June Assets 2013 2014 2015 2016 % increase in 2014 % increase in 2015 % increase in 2016 Non-Current Assets Tangible Assets 17021 17263 21931 27396 1% 27% 25% Differed Tax assets 788 1458 85% Capital Work in progress 2978 6084 104% -100% Long term Loans and Advance 10148 12379 14529 16234 22% 17% 12% Total Noncurrent Assets 30147 35726 37248 45088 19% 4% 21% Current Assets Inventories 23973 23055 20157 24455 -4% -13% 21% Trade Receivable 9270 9226 11676 10976 0% 27% -6% Cash and Bank 16682 16961 18125 53720 2% 7% 196% Short term loan 21831 19758 25065 5000 -9% 27% -80% Other current assets 2000 680 8722 3168 -66% 1183% -64% Total Current Assets 73756 69680 83745 97319 -6% 20% 16% Total Assets 103903 105406 120993 142407 1% 15% 18% Equity and Liabilities Shareholders fund 64923 64346 74234 85779 -1% 15% 16% Non-Current Liability deferred Tax Liability 640 235 -63% -100% Long term Liability 2 2 2 1 0% 0% -50% Long term Provision 150 216 293 354 44% 36% 21% Total Noncurrent Liability 792 453 295 355 -43% -35% 20% Current Liability Trade Payable 22367 25605 26801 32108 14% 5% 20% other liability 6534 5158 6287 9555 -21% 22% 52% Short term provisions 9287 9844 13376 14610 6% 36% 9% Total Current Liability 38188 40607 46464 56273 6% 14% 21% Total Equity and Liabilities 103903 105406 120993 142407 1% 15% 18% Table 2: Financial Position statement (Source: created by author) The table above shows the analysis of the trend of financial position of the company. The table demonstrates that the Tangible assets of the company increased significantly in the year 2015 and 2016. This indicates that the company is increasing theoperating capacity of the business. The long term loans and advances provided by the business increased by 22% in the 2014. Then after that the loans and advances forwarded by the company started declining. The inventories in the hands of the business declined in the year 2014 and 2015. This indicates that the most of the inventories has been sold or the purchase of excess stock has been reduced. However inventory in the year 2016 increased that represents that movement of the inventory reduced. The analysis shows that there has been significant increase in the value of the cash and bank in the year 2016. The loans provided by the company declined by 9% and 80% in the year 2014 and 2016 respectively. In 2015 the loan provided by the compan y increased by 27%. The trade payable of the company has increased in a consistent basis as provided in the table. The discussion above has shown that on performing the Horizontal analysis of the company the financial performance of the company can be easily ascertained. This analysis of the financial performance forms an important component in making the investment decision of the company. The risk profile measures the willingness of the company to take risk and face threats that the company is exposed to. In order to mitigate threats and potential risks the company the organization uses a risk profile or risk management technique. The risk profile determines the level of risk that an organization is willing to accept. It is also helps in determining the effect that risk has on the overall strategic decision of the company. The risk profile is important for every organization because it helps in reducing the risk. It should be remembered that failing to control the risk can have an adverse effect on the performance of the company[9]. The PG has analyzed the risk faced by the company and has adopted a risk management policy. The aim of the risk management policy was to create a structure that is efficient and of high standard. This structure should be used for identifying and mitigating potential risk that the company can face. The company has structured its meeting in such a manner that it can be used for planning, assessing and mitigating the risk of the company. This is achieved by conducting meeting on a bi monthly basis. The company has a risk management committee that has adopted the risk manage policy. The risk management policy adopted by the company is in tune with the guideline of the company to mitigate risks. The company has adopted competition response model program for addressing the business risks faced by the company. In order mitigate the financing risk the company has developed a robust legal and operational contingency plan. In case of important vendors and natural disaster the company hasdevelopeda business contingency plan. The company has also taken adequate insurance coverage of the assets to protect the value of the assets.It can be seen that the company has developed an overall risk management plan to ensure that the risk faced by the company is minimized. Optimal Capital structure The optimal capital structure of the company is the best debt equity ratio that maximizes the value of the business. It is said that the capital structure is at its optimum position if there is a perfect balance between the debt and capital of the business. In this level the cost of capital of the company is minimum. The balance is important to maintain because the debt has low cost as it is tax deductible but the risk is high. On the other hand the capital are less risky but the cost of equity is the highest. Therefore it is important to maintain a balance between the cost and risk in determining the capital structure of the business[10]. On analysis of the capital structure of the company it can be seen that the company does not have any long term debts or debentures. This means that the business relies only on shareholders fund for long term investment. This will lead to increase in costof capital the company. Therefore company should introduce debt in the capital structure for re ducing the cost of capital of the company. Dividend Policy The dividend policy can be said to be the guideline that helps the business to determine the proportion of earning it will distribute as dividend. The decision on the amount of dividend depends on the available investments. It is argued by many that the investors are not affected by the dividend policy of the business and they will realize cash by promotion of the shares of the company. This theory is known as dividend irrelevant theory. There are others those argues that dividends are relevant and have manner on the share price of the company. This theory is known as dividend relevance theory. The company has paid dividend during the years in 2013 the dividend paid by the company is 15, 2014 is 15, 2015 it is 15 and in 2016 the dividend payment is 20. Valuation of the Business The dividend discount model is a process for valuing business. It is calculated by predicting dividends and discounting them into present value. If it is seen that the value of the business obtained is higher than the current market price of the shares then it means that the company is undervalued. The formula is given below: Value of the sharers= Dividend per share/ (Discount rate dividend growth rate) Growth Rate Particulars Amount Dividend in 2016 20 Dividend in 2013 15 Increase 5 % increase 33% Number of years 4 Average increase 8% Table 3: Growth rate (Source: created by author) Value of the stock Particulars Amount Dividend per share 21.67 Discount rate 10% Dividend growth rate 8% Value of the stock 1300 Table 4: Value of the stock (Source: created by author) The calculation above reflects that the value of the stock is 1300. The existing market price of the share is 4220. This means that the company is overvalued. Conclusion Based on the above analysis it can be seen that the company is performing with responsibility. The financial performance of the company is analyzed and it can be seen that the business has performed effectively. The capital structure shows that the business does not uses debt financing. The company has also adopted an adequate risk management techniques. The valuation of the business shows the company is overvalued. However as the overall performance of company has been more than satisfactory so it is expected that the value of the business will be higher. Based on the above analysis it can be recommended that the investors should invest in PG. Reference Blackwood, B, QlikView for finance. in , 1st ed. Clardy, A, "A General Framework for Performance Management Systems: Structure, Design, and Analysis". in Performance Improvement, 52, 2013, 5-15. in Pg.com, , 2017, https://www.pg.com/en_IN/invest/gillette/shareholder_services.shtml [accessed 3 February 2017]. Kadan, O F Liu, "Performance evaluation with high moments and disaster risk". in Journal of Financial Economics, 113, 2014, 131-155. Koshkina, O, P Issakhova, A Issakhova, "The Model of Financila Instruments Influence on the Capital Flow in Kazakhstan". in Review of European Studies, 7, 2015. 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