Monday, May 25, 2020
A Meditation Journey Through The Chakras Of Cusco s Puma
TITLE A Meditation Journey Through The Chakras Of Cusco s Puma LEAD PARAGRAPH In Incan tradition, the Puma is the keeper of the Earthly realm where we humans reside. The importance of the puma resonates throughout Incan architecture, artwork and places of worship. Therefore it is no surprise that the city of Cusco, the capital of the Incan empire, was said to be built in the shape of the puma. The Incans had a strong connection to the spiritual realm, giving the city of Cusco a cosmically charged energy. In addition to these powerful roots, it is thought in the spiritual community that the Earthââ¬â¢s life force energy, also known as the Earthââ¬â¢s Kundalini, has shifted from India to the Sacred Valley. This shift has magnified the alreadyâ⬠¦show more contentâ⬠¦It is said that both the root and the sacral chakra of the puma lie on the beautiful grass terrace outside of the church. The church is easy to walk to only five to ten minutes away from the Plaza De Armas and offers beautiful views of the surrounding mountains. On a sunny day the Korican cha patio is a beautiful place to sit and soak up some rays. You can enter Koricancha with the tourist Boleto that costs S/130 (~46 USD). If you do not want to buy the ticket you can sit on the sidewalk next to the terrace. Please note: With the Boleto tourism ticket you will be able to visit many of the ruins around Cusco, including the Pisac ruins mentioned here(link other article. This ticket is valid for 10 days. Tickets can be purchased at the COSITUC office on 103 Avenida del Sol in the centre of Cusco, Open Monday ââ¬â Friday 8:00 AM ââ¬â 6:30 PM and Saturday from 8:00 AM ââ¬â 2:00 PM. So now that youââ¬â¢ve found the start of the journey through the chakras, what do you do to tap into this sacred energy. Seated in your easy comfortable position you will place your hands in the root chakra mudra, also known as gyan mudra. In this mudra your index finger and thumb touch, making a circle and the other three fingers relax in an open position. You will rest your wrists on your knees or wherever they reach on your legs
Thursday, May 14, 2020
Business Entities Essay - 1297 Words
Business Entities Jessica Perez BUS 311 Business Law Instructor: Janet Fiorentino 12/1/2014 As the manager of Acme Fireworks, I need to gather information to help the owner determine whether or not he should continue to be a sole proprietorship or if he should switch to another business entity. I will help him do so by explaining each entity and how they relate to his business situation. I am the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the ownerââ¬â¢s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. Theâ⬠¦show more contentâ⬠¦Explain why Acme Fireworks should not operate as a sole proprietorship. Recommend a new business entity, and provide rationale to support your recommendation. To address the first concern the ownerââ¬â¢s contract should be Uniform Commercial Code (UCC) rather than Common Law due to the following: ââ¬Å"Contracts law principles in general are uniformly understood and applied across the United States. Contract Law is governed by the common law and the Uniform Commercial Code (UCC Contracts vs Common Law Contracts, 2014).â⬠ââ¬Å"Common Law would lead to rejections if any changes were made to the contract (quantities, counter offers, etc.). Its terms include quantity, price, performance time, nature of work and identity of offer. Common Law does not allow revoking of the option contractsâ⬠(UCC vs Common Law, 2014). ââ¬Å"Common Law is primarily used in real estate and the law is made by the decisions of judges in individual casesâ⬠(Rogers, 2012). ââ¬Å"In Uniform Commercial Code (UCC) minor changes do not have any impact and the original contract does not get canceled. The quantity is the main focus of the term in UCC. Offers made by a firm are irrevocable if the deal is made in writing in UCCâ⬠(UCC vs Common Law, 2014). ââ¬Å"Uniform Commercial Code is a statutory law for certain types of commercial transactions, including sales of goods, which has been adopted by all 50 states. Many of its rules are similar to Common Law, but itShow MoreRelatedBusiness Entities : A Business Entity1530 Words à |à 7 Pages Business Entities: Each business entity is structured differently and, as a result, has unique tax implications. The types of business entities covered in this course were: sole proprietorships, partnerships, C Corporations, S Corporations, and Limited Liability Companies (LLC). The entities were differentiated by the number of owners and/or shareholder, whether they are a pass-through entity or not, and the level of liability the shareholder(s)/ owners(s) are responsible for. A sole proprietorshipRead MoreThe Characteristics Of A Business Entity1646 Words à |à 7 PagesTopic #1: Choice of Entity Question 1 - How is a business entity defined and what are some of the characteristics of a business entity as highlighted in R.P. Groetzinger? Answer: A business entity must take part in some form of business activity. However, the term business activity is too vague of a definition to provide an adequate understanding of what constitutes a business entity. When examined further, the case of R.P. 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Specifically, one of the first decisions that Ms. Growne should make, is whether she wants to acquire the assets of the tavern or the stock/interests in the business (McGuireWoods, 2013). AlthoughRead MoreTypes Of Business Entity For A Business2258 Words à |à 10 Pageswhen starting a business, one of the most important is the type of business entity you select for your company. Not only will this decision have an impact on how much you pay in taxes, it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money. It s not a decision to be entered into lightly, either, or one that should be made without sound counsel from business experts. ââ¬Å"Kalish says it s important for business owners to seekRead MoreChoosing A Business Entity : Case Study805 Words à |à 4 PagesChoosing a Business Entity After extended negotiations, May of 2001, Mr. Henry Phillips agreed to acquire the franchises, assets, and assume the liabilities of Telecable Communications. In order to make the purchase, he sought the help of six investors, two which were appointed by a friend, Mr. Carter. His ultimate goal was to choose a business entity that would accommodate the different interests of the different parties. 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Wednesday, May 6, 2020
An Introduction to Managerial Accounting and Cost Concepts
1-1 Chapter 1 An Introduction to Managerial Accounting and Cost Concepts Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Objectives 1. Comparison of Financial and Managerial 2. 3. 4. 5. 6. 7. 8. Accounting. General Cost Classifications. Product Cost versus Period Cost. Cost Classifications on Financial Statements. Cost Classifications for Predicting Cost Behavior. Cost Classification for Assigning Costs to Cost Objectives. Cost Classification for Decision Making. Review Problems MSc. Mohammad Hicham Khalil Introduction to Managerial Accounting 1-2 Learning Objective 1 Comparison of Financial and Managerial Accounting Introduction to Managerial Accounting MSc. Mohammad Hicham Khalilâ⬠¦show more contentâ⬠¦Product costs consist of: Direct materials. Direct labor. Manufacturing overhead. Product costs are sometimes called ââ¬Å"Inventoriable costâ⬠. Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil 1-11 Period Costs Are all the costs that are not included in p product costs. These costs are expensed on the income statement in the period in which they are incurred. All Selling, General and Administrative Costs a e considered are co s de ed to be pe od costs period costs. Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Product Costs VS Period Costs Product costs include direct materials, direct , labor, and manufacturing overhead. Inventory Cost of Goods Sold Period costs are not included in product p costs. They are expensed on the income statement. Expense Sale Balance Sheet Income Statement Income Statement MSc. Mohammad Hicham Khalil Introduction to Managerial Accounting 1-12 Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Quick Check Which of the following costs would be g considered a period rather than a product cost in a manufacturing company? A. Manufacturing equipment depreciation. B. 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Tuesday, May 5, 2020
Organizational Capability
Question: The main aim of this essay is to highlight, whether building individual capability conflict with building organizational capabilities. The essay also discusses the possible reasons for organizations to fear to lose of knowledge of employees. This essay also focuses on the potential risks of focusing on knowledge capture, rather than individual development. The essay also highlights important implications for developing human capital and organizational capability in today's organization. Answer: Introduction The main aim of this essay is to highlight, whether building individual capability conflict with building organizational capabilities. The essay also discusses the possible reasons for organizations to fear to lose of knowledge of employees. This essay also focuses on the potential risks of focusing on knowledge capture, rather than individual development. The essay also highlights important implications for developing human capital and organizational capability in today's organization. Organizational capability is the ability of a firm to manage its workforce and attain competitive advantages over the rival firms. Organizational capability concentrates on internal systems and processes for meeting the demand of the customers. It also creates competencies that are organization-specific and provide the organization with competitive advantages as they are unique (Argyres et al 2012). Discussion Part 1: This part of the essay critically examines the possible reasons for organizations to fear to lose knowledge of employees, and they are as follows: The bureaucracy of big companies: This is probably the most important reason that the organizations fear losing of knowledge of employees. However, this is the reason, which masks the true reason. No individual will abide by the rules that make no sense. But when the top officials of an organization complain about this reason, it can be implied that they do not feel that they have contributed to these rules (Poorhosseinzadeh et al 2013). Fail to find a project that ignites the passion of the talents: Big companies do not have individuals that go to the best and the bright employees and ask whether they are happy with their current project, or do they want to work on something different that they are interested in and which will benefit the organization. In fact HR people, to get into this matter keep up with other things. The bosses of the firm also do not have enough time to make this topic a must have topic instead of nice to have. Top talents in a company are not driven by the power and money but are driven by the opportunity to get involves in something big (Turner and J 2015). Poor review of the annual performance: There are many organizations that, do not provide and effective annual review of their employees. In fact, there are many companies, that have an employee annual performance review process, but they rushed through by just filling up a form and send it to the HR. This creates an impression in front of the employees that both the boss and the organization are not interested in the long-term future in the organization (Poorhosseinzadeh et al 2013). No discussion related to the development of career: Majority of the employees is not sure what they will be doing in the next 5years. Only a few people could say when they are asked about their future. It is crucial for every individual to discuss their future with the boss. There are many bosses, who never interact with the employees regarding their future career or where they want to be in the future. If the organization starts discussing with the employees, it will benefit the company. If the talented employees of the organization think that there is a path for success for them, then it will help the organization in retaining their talents (Turner and J 2015). Lacking accountability: Top talents of the organizations needs accountability from others and does not mind if they are held accountable for the project they are handling. So it is important for the bosses to stay in touch with the top talents. They appreciate the observation, suggestions, and insight provided by their bosses (Turner and J 2015). Missing vision: Few questions should always be raised such as: Is the future of the company exciting? What strategy is the company executing? What will be the role of the talented employees? Did the employees have contributed to the vision of the organization? And if the answer to this question is no, then there is lot o work the company needs to do (Turner and J 2015). Lacking open-mindedness: talented employees want to share their vision and ideas and expect the organization to listen to them. So it is important for the company to undertake programs that encourage individuals to come forward and share their ideas and vision (Turner and J 2015). Part 2: This part of the essay critically examines the potential risks of focusing on knowledge capture, rather than individual development. In the present scenario, the organizations highly concentrate on capturing knowledge, rather than the development of individuals in the firm. Capturing knowledge plays a vital role in the development of any business. It is highly crucial for the firm to retain their employees, because the employees are the main assets of any organization. The employees, that is associated with the organization for a longer duration becomes the storehouse of knowledge and contributes greatly to the growth of the organization. It is the responsibility of the higher authority to make sure that the employees are satisfied with their job, because job satisfaction, security in the job, proper work-life balance and flexible timings helps an organization in retaining their employees. It is also evident that the employees that are satisfied and happy with their job will be more efficient in their work, thus benefiting the organization (Oladapo and V 2014). However, the organization while trying to retain their employees ignores the development of individuals in the organization. Development of individual is also equally important for the development purpose because development of the employees help in the development and growth of the employees, who are the most important asset of the company. It is important for the management to treat their employees equally and respectfully, because employees contribute a major proportion in the development of business (Schiemann et al 2014). Development of employees is important for both the employees and the organization. It helps the employees to enhance their knowledge and skills and perform better in the organization. It is evident that if the employees of an organization are performing well, then it will help the organization in its growth process (Buller et al 2013). Development of employees is not only important for the professional development, but it also helps them in their personal growth and makes them ready to face any extreme and adverse situation. Development of the employees also helps the organization in extracting the best from their employees. This will help the company to extend their business further. Development of employees also helps the employees in assessing themselves. It also helps the employee in highlighting the area where they are lacking and where they need to improve (Jiang et al 2014). Development of employees helps in creating an environment of learning within the organization, which helps in motivating all the employees and developing new skills and techniques. Development of the employees also helps in strengthening the relationship between the employees in the firm. Training plays a vital role in the development process of the employees because it helps them in enhancing their skills and knowledge and function efficiently in the organization (Armstrong et al 2014). So, the above discussion has clearly highlighted the advantages of the development of employees. If the organization ignores the development of employees, then it will adversely affect the organization and will hinder its growth process. Part 3: This part of the essay critically highlights important implications for developing human capital and organizational capability in today's organization. In the present scenario, there is much evidence that proves that there is a positive relationship between the development of Human capital and organizational performance. The importance given to a human by the organization implies that the value of the market depends more on intangible resources, mainly human resources and not on tangible resources. The organization can grow better by recruiting and retaining talented employees in the organization. It is the duty of the organization to leverage the skills and capabilities of their employees, which can be achieved by encouraging organizational and individual learning and should create an environment that supports sharing, creation and application of knowledge (Arenas et al 2014). The contribution of Penrose (1959) represented the starting of the resource-based view of the firm (RBV) and later it was articulated by Barney, Dierickx and Cool and Barney. The RVB highlights the significance for an organization of creating a valuable resource set and bundle them in a dynamic and unique way to foster the success of the firm. The competitive advantage of a firm is not dependent on technology, natural resources or economics of sales as they are easy to imitate. Whereas, according to the RBV competitive advantage of a firm is dependent on the rare, valuable and robust to imitate resources that lies within the organization. In the real sense, human capital is considered as an intangible asset. The significance of human capital or collection of capabilities of the employees and how the talents are managed by the HRM of the company become more important than the strategic objectives of the company (Cummings et al 2014). In the terms of rarity, if the level and types of skills are not distributed equally, such that allowing some firms to acquire the needed talent and other organizations cannot acquire. Then such type of human capital becomes a source of competitive advantage. Regarding inimitability, there are mainly two reasons why it is difficult to imitate human resources and they are path dependency and casual ambiguity. Firstly it is difficult to capture the exact mechanism by which the interaction of policies and human resource practice creates value. Secondly such type of HR systems depends on the path, and they have consisted of policies that are developed with the passing time, and it cannot be purchased by the competitors in the market (Kamasak and R 2015). Moreover, when the interdependency between the practices of HR is combined with the company idiosyncratic context, then it creates high barriers to imitation. According to Boxall, the human resource must be latent which have productive possibilities and must be valuable. So it is important for the company to secure exponential talents or the bright and the best employee to attain competitive advantages. The RBV of an organization strengthens the very common and repeated statement that humans are very important assets of any business (Cummings et al 2014). So the above discussion clearly highlights important implications for developing human capital and organizational capability in todays organization. Conclusion This essay has clearly highlighted, whether building individual capability conflict with building organizational capabilities. The essay has also discussed the possible reasons for organizations to fear to lose of knowledge of employees. This essay has also focused on the potential risks of focusing on knowledge capture, rather than individual development. The essay has also highlighted the important implications for developing human capital and organizational capability in today's organization. References Arenas, T., Griffiths, P. and Freraut, A., 2013, January. An individual-centred model of Intellectual Capital. In Proceedings of the 10th International Conference on Intellectual Capital, knowledge Management and Organisational Learning: ICICKM 2013 (p. 46). Academic Conferences Limited. Kamasak, R., 2015. Determinants of innovation Performance: A Resource-based Study. Procedia-Social and Behavioral Sciences, 195, pp.1330-1337. Turner, J.R., 2014. The handbook of project-based management (Vol. 92). McGraw-hill. Argyres, N., Felin, T., Foss, N.J. and Zenger, T., 2012. The Organizational Economics of Organizational Capability: A Research Agenda. Organization Science, 23, pp.1213-1226. Poorhosseinzadeh, M. and Subramaniam, I.D., 2013. Talent management literature review. Australian Journal of Basic and Applied Sciences, 7(6), pp.330-338. Oladapo, V., 2014. The impact of talent management on retention. Journal of Business Studies Quarterly, 5(3), p.19. Schiemann, W.A., 2014. From talent management to talent optimization. Journal of World Business, 49(2), pp.281-288. Meagher, K. and Prasad, S., 2016. Career Concerns and Team Talent. Journal of Economic Behavior Organization. Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management practice. Kogan Page Publishers. Cummings, T. and Worley, C., 2014. Organization development and change. Cengage learning. Jiang, K., Lepak, D.P., Hu, J. and Baer, J.C., 2012. How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms. Academy of management Journal, 55(6), pp.1264-1294. Buller, P.F. and McEvoy, G.M., 2012. Strategy, human resource management and performance: Sharpening line of sight. Human resource management review, 22(1), pp.43-56.
Wednesday, April 8, 2020
Mass of the Earth free essay sample
Introduction Geology is a way to know the content of the earth and how the earth works. This activity is going to show the mass of the earth. We will write a custom essay sample on Mass of the Earth or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The reason is to show how scientists determined the mass of the Earth, and an example of one of the ways to estimate the mass of the earth. Knowing the mass of the earth is important because it helps us to understand what is in the center of the earth, and how the earth operates. Several historical figures have discovered the mass of the earth. Henry Cavendish is credited as the first person to find the mass of the Earth (Rubin). Eratosthenes calculated the size of the earth in 276 BC. Newton was incremental in calculating the mass of the earth with his equation of gravity (Wile). Todayââ¬â¢s known mass of the earth is 5.98*10^24kg or 598 sextillion kilograms (Wile). One way to can calculate the mass of the earth is by finding the time it takes to rotate around the sun and using the equations of gravity and centripetal force to calculate the mass of the earth. This method takes equipment to calculate the mass of the sun and the velocity which cannot be done in a classroom without the information pre- given in a text book (Wile). Methods How can the mass of the earth be estimated? This experiment will show how that can be done. In this experiment the equipment used includes: six rocks given in class to calculate the average density of rocks, a graduated cylinder full of water, a calculator, and an electronic balance. One of the assumptions that I can make regarding the calculations achieved in the activity include many of the rocks have similar or even the same volume because of their size. Another premise that can be made is the densities are similar in some of the rocks in this activity. The above assumptions are justified in this experiment because three of the volumes are exactly the same in the calculations and the rocks were the same sizes. The densities are also very similar in some of the samples. The reason being is that the mineral content is similar or exactly the same, but arranged differently. One example of this mineral content is basaltic porphyry and basalt; another is granite and pegmatite. Each of these rocks has the same mineral content, but different particle sizes (Wicander, Monroe). Results To determine the mass we placed the first rock on the balance to find its mass and the answer was 25g. Secondly, the rock was placed in water to find the volume, and found the volume was 25mL which makes the density 1 g/mL. Five more rocks were measured in the same way. For the second rock the mass was 50g and the volume was 23mL, making a density of 2.17g/mL. The third rock had a mass was 77g and the volume of 25mL, making a density of 3.08g/mL. On the fourth rock, the mass was 70g and the volume was 25mL, making a density of 2.8g/mL. The mass of the fifth was 33g and the volume was 10mL, making a density of 3.3g/mL. In the final rock the mass was 15g and the volume was 5mL, making a density of 3.0g/mL. The rocks average density is 2.56g/cm3 because you can substitute cm3 for mL since they are equal. To find the mass of the earth we had to know the densities of the rock and the iron. The rock made up 65% of the earthââ¬â¢s material, and iron made up the other 35%. The density of the iron was given as 7,874 kg/m3.The density of iron had to be multiplied by .35 to find the final density of iron in the earth. Then the new density (2,756 kg/m3) was multiplied by the given volume, which is 1.08321e21m3 to get a mass of 2.9853e24kg. Next I had to calculate the density of the rock in kg/m3 which ended up as 2,560kg/m3. That density had to be multiplied by .65 to get the density of the total rock of the earth. The answer is calculated as 1,664kg/m3. To get the mass, I multiplied the given volume by the density of the rock, which was calculated as 1.8025e24kg. Finally to get the mass of the earth, the mass of the iron had to be added to the mass of rock. The mass of the earth was found to be 4.78e24kg. Table 1 Density in kg/m3 Volume in m3 Mass in kg Mass of the Earth in kg Rock total in earth 1,6641.08321e21 1.80246e24 4.78e24 Irontotal in earth 2,756 1.08321e21 2.98533e24 Discussion The mass of the earth calculated by me compared to the one discovered by real scientists is that mine was 4.78e24kg but the real mass was 5.98e24kg (Wile). The reason for the difference is being the water was not part of the calculation. Also what would play into this would be the amount of rocks used. It would change the density of the earth because all rocks have different densities, and the more rocks used the more accurate the density will be. Another factor is how we calculated using a geologic equation while scientists used the gravitational pull of the sun and Newtonââ¬â¢s equations on gravity to find the mass of the earth. Ways I could improve my results include using more rocks to make a more precise average density of rocks in the earth to find a closer answer. In addition, the density of water could also be used since water also takes up a huge amount of the earth. Another way that would work is finding the density of nickel since there is a significant amount of nickel in the center of the earth, which would give a more accurate mass. Conclusion In conclusion, in this activity the densities of various rocks were calculated, then averaged. The given information was used to calculate the mass of the iron portion of the earth. After that, the mass of the rock portion of the earth was calculated. Then both of those masses were added together to give the total mass of the earth. References ââ¬Å"Eratosthenes: Greek Scientist.â⬠9-30-16. Rubin, Julian. ââ¬Å"Henry Cavendish: Weighing the Earth.â⬠June 2013. Wile, Jay L. Exploring Creation with Physics. Anderson, IN: Apologia Educational Ministries,2004. Print. Wicander, Reed, Monroe, James S. Belmont, CA: Brooks/Cole, Cengage Learning, 2013
Monday, March 9, 2020
Divisibility Tricks and How to Divide in Your Head
Divisibility Tricks and How to Divide in Your Head A great way to enhance student learning in mathematics is to use tricks. Luckily, if you are teaching division, there are a lot of math tricks to choose from. Dividing by 2 All even numbers are divisible by 2. E.g., all numbers ending in 0, 2, 4, 6, or 8. Dividing by 3 Add up all the digits in the number.Find out what the sum is. If the sum is divisible by 3, so is the number.For example: 12123 (121239) 9 is divisible by 3, therefore 12123 is too! Dividing by 4 Are the last two digits in your number divisible by 4?If so, the number is too!For example: 358912 ends in 12 which is divisible by 4, and so is 358912. Dividing by 5 Numbers ending in 5 or 0 are always divisible by 5. Dividing by 6 If the number is divisible by 2 and 3, it is also divisible by 6. Dividing by 7 First Test: Take the last digit in a number.Double and subtract the last digit in your number from the rest of the digits.Repeat the process for larger numbers.Example: Take 357. Double the 7 to get 14. Subtract 14 from 35 to get 21, which is divisible by 7, and we can now say that 357 is divisible by 7. Second Test: Take the number and multiply each digit beginning on the right-hand side (ones) by 1, 3, 2, 6, 4, 5. Repeat this sequence as necessary.Add the products.If the sum is divisible by 7, so is your number.Example: Is 2016 divisible by 7?6(1) 1(3) 0(2) 2(6) 2121 is divisible by 7, and we can now say that 2016 is also divisible by 7. Dividing by 8 This ones not as easy. If the last 3 digits are divisible by 8, so is the entire number.Example: 6008. The last 3 digits are divisible by 8, meaning 6008 is as well. Dividing by 9 Almost the same rule and dividing by 3. Add up all the digits in the number.Find out what the sum is. If the sum is divisible by 9, so is the number.For example: 43785 (4378527) 27 is divisible by 9, therefore 43785 is too! Dividing by 10 If the number ends in a 0, it is divisible by 10.
Saturday, February 22, 2020
Retail Branding Essay Example | Topics and Well Written Essays - 1500 words
Retail Branding - Essay Example The current interest in retail branding is scarcely to be wondered at, given that, as Ailawadi and Keller acknowledged, ââ¬Ëââ¬â¢With the growing realization that brands are one of a firmââ¬â¢s most intangible assets, branding has emerged as a top management priority in the last decadeââ¬â¢ (p.1). If one looks at a breakdown of the revenue of a major retailer, one will usually find that a large proportion of that revenue comes from the sale of manufacturerââ¬â¢s goods. However, this poses problems for retailers given the incredibly competitive nature of the marketplace ââ¬â many stores might stock exactly the same goods, and quite probably at similar prices. They thus have to focus on developing marketing strategies which will encourage consumers, when faced with a choice of stores, all of which sell what they want, to choose one over another. As Ailawadi and Keller note, ââ¬Ëbuilding their [retailers] own equity is a particularly challenging problem, but one wi th big potential rewards. Such equity insulates them from competing retailersââ¬â¢ (p.1). The definition of retail branding offered by the Canadian Marketing Blog supports this, stating that it ââ¬Ëis about differentiating, a unique personality, a true point of differenceââ¬â¢. ... n incredibly wide range of factors, from the assortment of goods on offer in the store, to the level of customer service and comfort they experienced while shopping there, to their pricing and credit policies, and of course the quality of the goods sold. This stands in contrast to a consumerââ¬â¢s opinion of a product brand, which is more likely to have been constructed mostly from their opinions on that productââ¬â¢s marketing campaigns, and any experiences theyââ¬â¢ve had of that brandââ¬â¢s goods. Identifying the manifold elements that strongly influence the construction and perception of a retailersââ¬â¢ brand image, we might conclude that the general atmosphere in the store, the prices and presence or absence of attractive promotions or reductions, and the range of products are perhaps the most important. One might think that price is always the most important factor in decisions made by consumers, but Brown highlighted long ago that price perception is more impor tant that actual prices. In short, if a retailer intends to market its brand based principally on its price, Brown found that for consumers, what was important was that they believed a storeââ¬â¢s prices to be low, rather than whether they actually were. Therefore, a retailer has to work on getting all of these elements right in order to create the best possible experience for consumers frequenting their stores, in order to build up networks of loyalty and patronage among consumers. The key is winning over large numbers of consumers who believe that a particular retailer offers a superior shopping experience, and will recommend that retailer to their friend and family networks, as well a visiting it again themselves. Of course, manufacturer brands, as Ailawadi and Keller acknowledge, can be useful in creating a
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