Modern Trading Culture Essay Example for Free

Modern Trading Culture Essay With increasing competition everyday in the consumer market, the world has shifted towards modern trading concepts. The modern trading concept has two major objectives; to provide the basic necessities under one roof. Secondly, the customer should be able to touch the products in person. Metro and Macro are the examples of modern trading stores. The procedures and implementation of modern trade in other countries is different as compared withPakistanbecause of the local trading culture. Modernization of Trading Systems According to a research, retail markets tend to modernize from largely traditional trading techniques to modern trading techniques. As markets modernize, the share of traditional trade as a percentage of total trade declines slowly; suppliers, however, will continually need to adjust the amount of resources allocated to manage the traditional trade versus the modern trade. Smart suppliers manage this balancing act by accurately tracking (and often predicting) the pace at which key transitions or market evolution shifts are likely to occur. Three overarching factors affect the speed and nature of market transition. They include (1) consumer trends and purchasing behaviors in the market; (2) factors related to modern retail consolidation (Also called central buying, an approach in chain stores whereby all purchasing is done through a central or main office); and (3) disruptive factors such as the economy, special interests, and government regulation etc. InPakistanthere are a number of manufacturers for various products. The normal distribution channel is that the manufacturers use their own distributors as well as independent distributors in the market, who purchase products from the factory and then deliver to the retailers and the wholesalers. On the other hand, some retailers get products directly from the distributors while some are purchasing from the wholesalers. Big cities have thousands of outlets in the market for grocery items. If we only take the example of twin cities ofPakistan, there are around 3,000 grocery outlets including the small shops inIslamabadand inRawalpindithere are around 15,000 outlets. It is impossible for the manufacturer to reach each and every outlet so they need distributors to make the products available to the outlets. Even the distributors at times cannot reach all of the outlets, so there are wholesalers in the markets who buy the products in bulk from distributors or manufacturers. They are located in certain locations where the retailers buy the products from the wholesalers. At the end of the day, it all depends on the relationships of the retailer; if he has good relationship with the distributors and can buy the products on credit from him and even return the unsold products, or he could buy the same products from a wholesaler like an end consumer. We can say that the markets in Pakistan are divided into 2 categories with respect to retailers; first are those who are getting the products from distributors and second are those who are buying the products from wholesalers. Distributors supply the product at the retailer’s shop but retailer has to go to wholesaler to purchase a product. These consumer trends, retail consolidations, and disruptive factors heavily influence retailers’ growth strategies as well as the formats they are most likely to develop to sustain growth over the long term. As markets evolve, retailers adjust their formats and operational strategies to cater to differing shopper needs and trends-and thereby maximize retailers’ reach in an evolving market. Advantages and Disadvantages There are numerous advantages of modern trading system. There are 3 types of consumers who come to modern trading stores like Metro or Macro; 1) end users, 2) traders and 3) hoteliers. The system of modern trade influences the distributor business because retailers are now going directly to these stores and are purchasing products themselves at lesser prices. Modern trade is reducing the number of distribution channels from the factory to the retail shop. This subtraction of distribution channel increases the profit margins of both the manufacturer and the retailer. It is a convenient alternative for the end users to purchase house hold items from one place at a lesser cost. The disadvantages of modern trade is that it is adversely affecting the business of independent distributors since the manufacturer is giving different prices to the distributors and the modern trading stores .Margins of distributors have reduced and they are also loosing some of their clientele as some retailers prefer to buy products directly from these modern stores rather than distributors. Another disadvantage of modern trade inPakistanis that it has confused the end user by offering 3 different prices for the same product in the market. Those 3 pricing areas are retail shops, wholesalers and the big stores. This usually creates doubts about the quality of the products because of the price variations. Reluctance in Modern Trading Some of the manufacturers are now willing to enter into modern trading system but it also varies from manufacturer to manufacturer. If a company has a strong positioning of their products in retail outlets of a city, they would also be willing to sell their products in a big store. But on the other hand, if a company has weak positioning in the retail outlets, they would hesitate to sell their products in the modern trading stores. The distributors get fix percentage of profit from the manufacturer to sell their products to the retailers or wholesalers. Indian Market If we take the example of India, where consumer trends are very much similar to ours and have been the greatest influencer in forcing modern trade to develop. A significant demographic transition is now underway with a large, young, working population (median age of 24); more nuclear families in urban areas; an increase in the number of working women; and emerging opportunities in the service sector. Urbanization, higher household disposable income, and convenience one-stop shopping are other factors that are fueling this modern trade growth. Retail consolidation will slowly help drive modern trade growth as well. It is estimated that the Indian retail industry was worth about USD286 billion at the end of 2004; yet India remains one of the most fragmented retail sectors in the world with only 2% of total sales deriving from the modern trade. As that happens, India is likely to see a significant trend toward modern trade as retailers invest in data, technology, and infrastructure to exploit and escalate potential growth. Disruptive factors particularly government regulation are unquestionably the key â€Å"reason† foreign players have not played an influential part in triggering retail consolidation in India. However, there is no one path to modernization; markets are not dependent on global retailers as catalysts for modernization. However there are many markets where global retailers act as key catalysts, and, in fact, capture the lion’s share of the modern trade. To understandIndia’s potential future, it is useful to look at examples of three market types, and why they’ve modernized the way they did: †¢ Markets that have grown the modern trade through global players entering the market; †¢ Markets that have grown through a hybrid of global and local players; and †¢ Markets that have modernized driven almost entirely by local retailers. Government Policies The government policies play a major role in implementing modern trading system in a region. InIndia, there are some areas where the government has not allowed modern trade stores to operate. Similarly, inPakistanif the existing traders are reluctant of the entrance of modern trade stores like Metro the government has the authority to impose restrictions on such stores. Nevertheless, these kinds of stores are beneficial for the Government as they give fixed General Sales Tax (GST) and also are a foreign investment in the country. The Core Capabilities Required for Growth A core takeaway from studying market evolution is that, regardless of whether the retailer driving the modern trade is global or local, the capabilities they need to do that are largely the same! In addition to the overall management, a great modernizing retailer will require capabilities in six core areas to win in the changing environment. Finance A retailer is best served having an operating model with two key financial criteria: †¢ Generates enough cash flow to fund its expansion; and †¢ Remains relatively low debt. Retail is a cyclical and relatively low margin business. High levels of debt and interest greatly impede a retailer in growth mode and can make running the operation difficult. Most great retailers remain relatively conservatively financed. Operations The retailer is able to manage the complexity of getting merchandise from factory to shelf. Indian conglomerate Reliance Industries Ltd. is aiming to get to this state through integration of an entire supply chain from farm to store, particularly with staple food commodities. Many great local retailers (e.g., HEB and Publix, twoUSregional grocery chains, and 7-11 inJapan) optimize their market position through a best-in-class supply chain, which gives them a significant competitive advantage in speed and store conditions. Brand Brand is all about a relevant and influential connection to the shopper. It is imperative for retailers to have a systematic understanding of their shoppers and be able to execute, both in and out of the store, based on that knowledge. In addition, the ability to tailor a portfolio of formats to meet different shopper/consumer needs is very helpful-especially in geographically, culturally, and economically diverse markets like India. Pantaloon is one of the Indian retailers that has begun to develop the data and analysis capabilities to do just that. As India’s infrastructure develops to support modern trade, the retailer will be able to do that more consistently. As the market evolves, both retailers and manufacturers will require the capabilities to consistently understand what motivates shoppers and consumers, in order to bring together a successful retailer strategy that serves both constituents well. The intermingling of finance and brand is pricing; the right price doesn’t necessarily mean the lowest, especially in some categories such as apparel, where a low price may be perceived as poor quality. Also, a rigorous understanding of which items are important to be low priced for competitive purposes versus which items can be margin enhancers, is one of the key criteria strong retailers use to grow in a market. When discussing people, the discussion is incomplete without the right measurements in place. As people are trained to execute at the store, retailers will have to have the right set of measures to ensure great delivery to the shopper. In addition, the focus of high capability in-market retailers’ corporate measures are usually geared toward selling to the consumer than on buying efficiencies and leveraging scale; however, our research shows that retailers who understand this and work proactively with suppliers to optimize their mutual business tend to grow faster than the market. In-store execution should come together as a result of the right brand message and effective operations that facilitate having the right merchandise in the right place. Often the simplicity of the message and the operation generally results in superior in-store execution, and this largely depends on people development and training. Relentless focus on execution details is the final differentiating factor for success.

Search for Innocence in American Modernism Essay -- Literature Essays

Search for Innocence in American Modernism      Ã‚   American Literature from its very beginning has been centered around a theme of innocence. The Puritans wrote about abandoning the corruption of Europe to find innocence in a new world. The Romantics saw innocence and power in nature and often wrote of escaping from civilization to return to nature. After the Civil War, however, the innocence of the nation is challenged. The Realists focused on the loss of innocence and in Naturalist works innocence is mostly gone. During these periods of American Literature it seems almost as if a hole was being dug, a sort of emptying of innocence, and after World War I the Modernists called this hole the wasteland Many Modernist works focus on society lost in the wasteland, but they hint at a way out. The path out of the wasteland is through a return to innocence. This is evident in the Modernist works of The wasteland by T. S. Eliot, "Directive" by Robert Frost, "Babylon Revisited" by F. Scott Fitzgerald, and "Hills Like White Elephants" by Earnest Hemingway as will be shown in an analysis of the inhabitants of the wasteland and their search for innocence, the role of children and pregnancy in the wasteland, and the symbolism of water and rebirth.    But before I go on, I believe that I should first clarify what I mean by "a return to innocence." First, there is some confusion between innocence and ignorance. They are often used interchangeably. Because a person is innocent, it does not mean that he or she is unaware of reality. Innocence is almost like a different type of view. A child and an adult may interpret a single thing entirely differently, but this does not mean that the adult knows more about that thing. Innocence is open ... ...ed society and only through the return of innocence can there be hope of anything better.    Works Cited Eliot, T.S. The wasteland. In The Heath Anthology of American Literature, Volume II. Edited by Paul Lauter et al. Lexington, MA: D.C. Heath and Company, 1991: 1447-1463.    Fitzgerald, F. Scott. "Babylon Revisited." In The Heath Anthology of American Literature, Volume II. Edited by Paul Lauter et al. Lexington, MA: D.C. Heath and Company, 1991: 1471-1485.    Frost, Robert. "Directive." In The Heath Anthology of American Literature, Volume II. Edited by Paul Lauter et al. Lexington, MA: D.C. Heath and Company, 1991: 1208-1209.    Hemingway, Ernest. "Hills Like White Elephants." In The Heath Anthology of American Literature, Volume II. Edited by Paul Lauter et al. Lexington, MA: D.C. Heath and Company, 1991: 1471-1485.      

Lotus Car Rental Alternative Fuel Assessment Essay

Introduction The creation of a fleet of alternative fuel sourced automobiles would be a wise decision for the Lotus Car Rental Company. There are two major issues that are on the minds of people these days, the environment and money. By creating a fleet of alternative fuel based automobiles the Lotus Rental Care Company can help ease the fears of people in both categories. By having the ingenuity to have a fleet of alternative fuel automobiles; the Lotus Car Rental will set themselves apart from the rest of the rental car companies. Lotus Car Care will be the leaders in environmentally safe car rentals. The following research paper will discuss the background of this topic, the costs of working with alternative fuel automobiles, the technical aspects of alternative fuel, the environmental aspects of alternative fuel as well as discuss some recommendations for the Lotus Car Rental Company. Background The Lotus Car Rental Company is looking into adding a fleet of alternative fuel sourced vehicles to their supply. Alternative fuel sourced vehicles are classified as being resources other than petroleum. A few of these sources are produced here locally and some are derived from renewable sources. They often produce less pollution than does gasoline. (â€Å"Alternative Fuel Vehicles†, 2012). Hybrids are also considered to be an alternative sourced vehicle. A Hybrid vehicle is one that utilizes more than one form of onboard energy to achieve propulsion (â€Å"Edmunds.com†, 2009). Financial Feasibility Several factors influence the financial feasibility of adding alternative fuel vehicles to the fleet: vehicle cost, maintenance, advertising, and return on investment. Additional considerations include: market share, future growth, and implementation cost. The first consideration is the cost of adding hybrid vehicles to fleet inventory. Individual vehicle cost ranges from $23,000 to $37,000 and the models available include Honda Civic, Volkswagen Jetta, Lincoln MKZ, and Lexus ES300H (Almeida, 2009). Fleet costs would be less depending on number of units purchased and vehicle upgrades. Lotus Rental Car’s rentals fall into three categories: economy, mid-size, and luxury. Based on a cursory review of Lotus Rental Car’s primary income producers, the number of hybrid vehicles added should fall within the three to five percent range for each category. The initial outlay should equal or be less than the number of vehicles within each specific category that will be retired within the purchase year. For instance, if ten percent of economy vehicles will be retired then five percent of the new vehicles purchased will be hybrid. By timing the introduction of the new hybrid vehicles with inventory retirement the initial cost outlay will be mitigated. The anticipated maintenance costs will be similar to the previous year’s cost and no change is expected. Income from vehicles retired is expected to equal the same percentage as non-hybrid automobiles and will not constitute a negative financial impact. Advertising is a major consideration, although the cost is not expected to increase. Target markets will be in major cities where Lotus Rental Car’s already has a large presence. Urban centers with environmentally conscious drivers are the best place to begin a new hybrid product line. Adding information regarding the new line to existing websites provides maximum exposure with minimal cost. Other markets include environmentally conscious corporate businesses that already have a corporate account with Lotus. Market share and future growth is connected to advertising and return on investment. The implementation costs are minimal. The monthly return on investment is tied to advertising, environmental activity, and rental cost. Advertising includes national campaigns and local markets. The rental market incorporates online sales and local customers. The majority of travelers will book a rental vehicle prior to arriving at the rental company. Pricing will play an important factor in a rental commitment. Up-sale will increase income potential. Economy vehicles rentals begin at $9.99 and increase, depending on the current sales program. The cost may decrease, depending on the number of days booked, special pricing, and additional sale of navigation, XM radio, and infant seats. However, the average rental price for an economy vehicle is $29.99 per day and hybrid vehicles rent from $65.99 to $159 per day. The return on investment per day would range from $35 to $129. It is clear the automotive industry is offering a variety of hybrid vehicles in response to customer demand. The future of the automotive industry includes alternative fuel vehicles of all models. As the automotive industry embraces hybrid sales that increase their market share, so should the vehicle rental industry. Entry into a new product line will have higher costs than non-alternative vehicles until the product becomes well immersed into the market. In the case of hybrid vehicles it is prudent that Lotus Rental Car adds hybrid vehicles to their urban centers and joins the environmental movement along with major vehicle manufacturers. It is clear that as time passes, a portion of new business will gravitate toward rental car companies that offer alternative fuel vehicles. Lotus Rental Car company will lose future market share and the expense of entering the hybrid market will increase if Lotus Rental Car company enters the market after its competitors (Schueneman, 2009). Technical Aspects One of the many advantages of owning a hybrid vehicle is saving money at the pump. Unlike your standard gas running car, this on average would do about 21 mpg highway and city driving. Hybrids on average are doing 30 mpg highway and city. An article written on nationalgeographic.com it shows the actual fuel saving over a year span â€Å"The average American driver between the ages of 34 and 55 drives 15,291 miles annually. Divide this annual mileage figure by 21 miles to the gallon for the standard model, and you will find that you would buy about 728 gallons of gasoline a year. In contrast, if you divide the annual miles figure by 30 for the hybrid, you would determine that the annual gas purchase would be of about 510 gallons. You would save 218 gallons of gas a year with the hybrid. Multiply this by a conservative $3.50 a gallon for a dollar savings of $763. By selecting the hybrid over the standard model, you would make up for the $5,560 difference in sticker price in seven to eight years. Subtract the maximum tax incentive and you could recoup the $2,160 difference in less than three years. Thus, in this example, you would save money either by paying full price and driving your hybrid for more than eight years, or by driving it for more than three years with a tax credit.†(Nationalgeographic.com by Lynne Haley Rose). So although the price tag is little higher on hybrids you will easily make your money back in the gas savings. Most people may think,† Yeah, you save on gas, but don’t get the as much horsepower when you purchase a hybrid vehicle.† The idea of combining electric and gas does seem to leave much room for speed and maneuverability. This assumption is not true; yes hybrids do have smaller gas engines, but they make it up with their electric engine. Coupled with the gas engine, the electric engine can send power to various parts of the car, mainly the wheels. This is a very good advantage over standard horsepower, because it could actually supply more power to the car; which increases its speed. With all this talk about horsepower and speed, we begin to think about maintaining a hybrid car. Once again, just because it’s a hybrid doesn’t mean it’s more expensive. Most of the basic normal maintenance requirements like oil changes and tune ups cost about the same as standard cars. They even have their own perks. A standard car requires an oil change every 3,000 miles; whereas hybrids are every 6,000 miles. One of the most expensive items on a hybrid is the car’s battery; which can run you up to 3,000 dollars. Don’t let this number scare you, because these batteries have no real recorded life expectancy â€Å"a long time† is what I kept seeing in my research. As said in (8 Reasons to Buy a Hybrid Car) â€Å"There’s no difference between a hybrid and the gas-powered car parked in your garage — it can accelerate just as quickly and cruise just as fast on the highway, and it handles just as smoothly. Most important, hybrids are just as safe to drive.† (By Alan Rider Parents.com). Hybrids have come a long way since the first Prius 10 years ago. They’ve excelled in mpg, horsepower and style. There are a number of hybrids out there now and many styles to choose from in the standard and luxury lines. As far a comfortable ride, hybrids and standard cars are the same. Now, of course, if you go out and get a Lexus hybrid you’re going to have more luxuries than if you purchased a Toyota hybrid. Most cars you get know have all of the technical capabilities available and if they don’t they can be added. Technology will not stop growing and with that so will the new age of hybrids. Environmental Aspects Petroleum based fuels can create harmful emissions like carbon dioxide; nitrous oxides, and particulate matter, all of which degrade the environment (â€Å"5 things you need to know about alternative fuel vehicles,† 2008). These methane, carbon dioxide, nitrous oxide and other gasses are known as greenhouse gases. When these gasses build up they contribute to global warming. HybridCar.org claims that Hybrid vehicles produce 80 percent less greenhouse gases than conventional fuel based vehicles (â€Å"Hybrid Cars And Pollution†, 2005). Toxicity is another problem with petroleum fuel based vehicles. The producing of some forms of alternative fuels can create fewer toxins than those produced by traditional fuel vehicles. For instance, biodiesel is a fuel that is created from leftover vegetation like corn stalks. Biodiesel is biodegradable and non-toxic which makes it safe for the environment. Noise pollution is also a form of pollution. Car engines can produce 110 decibels of noise, which is twice as loud as a normal conversation.. The noise will come from the fuel pump, pistons and compressors that create the combustion and cycle the fuel. Vehicles with alternative fuel sources such as hydrogen fuel cells will produce no sound or vibration as they require no moving parts to produce fuel. Recommendations The research has shown that a fleet of alternative fuel sourced vehicles would be the best idea for everyone involved. The positive feedback generated by offering this fleet of vehicles would be astounding. The market for rental cars with alternative fuel capabilities is very small and the Lotus Car Rental Company would have the market cornered. The cost of maintain a fleet of these vehicles are no different than that of petroleum fueled vehicles. The consumer that is able to rent these vehicles will also benefit by being able to save more money on energy for the vehicle. The environment will also benefit from this addition to the Lotus Car Rental fleet. The amount of pollution and emissions that can be cut back will be helpful to the surrounding community and the future generations to grow up in the community. Conclusion The creation of a fleet of alternative fuel sourced automobiles would be a wise decision for the Lotus Car Rental Company. After conducting much research, the decision to incorporate a fleet of alternative fuel sourced automobiles would be in the best interest of the public as well as the company. The research has shown the monetary benefits, the technical benefits as well as the environmental benefits of acquiring a fleet of alternative fuel sourced automobiles. The benefits of having a positive company reputation are enormous. Having an environmentally friendly car rental company has the potential of being a lucrative decision. Living a green lifestyle has become an important thing in this day and age. The Lotus Car Rental Company will have cornered the market by having an entire fleet of environmentally friendly automobiles. References Alternative fuel vehicles. (2012). Retrieved from http://www.fueleconomy.gov/feg/current.shtml Edmunds.com. (2009). Retrieved from http://www.edmunds.com/fuel-economy/what-is-a-hybrid-car-how-do-hybrids-work.html Almeida, A. (2009, August 13). Average Cost of a Hybrid Car. Retrieved from CarsDirect: http://www.carsdirect.com/car-pricing/whats-the-average-cost-of-a-new-hybrid-car Schueneman, T. (2009, February 12). Enterprise Rent-a-Car Adds 5000 Hybrids to its Fleet of Fuel Efficient Cars. Retrieved from sustainablog: http://sustainablog.org/2009/02/enterprise-rent-a-car-adds-5000-hybrids-to-its-fleet-of-fuel-efficient-cars/ 5 things you need to know about alternative fuel vehicles. (2008, July). greencar.com, (), . Retrieved from http://www.greencar.com/articles/5-things-need-alternative-fuel-vehicles.php Hybrid cars and pollution. (2005). Retrieved from http://www.hybrid-car.org/hybrid-cars-pollution.html

Pros and Con E Commerce Essay - 3852 Words

Pros and Cons of E-Commerce â€Å"The web is the ultimate customer empowering environment. He or She who clicks the mouse gets to decide everything. It is so easy to go elsewhere; all the competitors in the world are but a mouse click away.† Jacob Nielsen, Designing Web Usability. There are many Pros and Cons when it comes to e- commerce. The use of the internet e commerce has grown drastically in recent years. E commerce is the buying and selling of goods and services on the internet. Even though there are tangible privacy and security issues that keep people on guard, consumers face a dilemma each time they need to divulge highly personal information online, the ability to provide secure shopping transaction via the internet and†¦show more content†¦One of the worst problems for consumers is unauthorized access to their financial information. Criminals are able to access this information and steal their identity and steal their money and open up credit card accounts. Phishing is anot her security risk where criminals send emails messages to consumers in reference to online stores and banking. E-commerce services are driven by money and attract hackers trying to find some kind of loophole to steal bits of information from the company or the individual. The email looks real to the consumer and when the consumer reacts to the email and input their information there account is hacked. Data theft has increased 33% in 2010 according to the Identity Theft Resource Center, â€Å"Corporations are not yet taking identity theft and data breach seriously enough to properly train their employees, executives, and board on the BOTTOM-LINE DESTRUCTION caused by data breach.† The survey goes on to state â€Å"According to the same study, the average cost for a business to recover from a data breach is $6.75 Million. The average cost to implement identity theft, social engineering and data breach training? In most cases, less than $50,000. What is E-Commerce? David Burt â€Å"states that â€Å"E-Commerce is an enabler, not a replacement for the essential human aspect of buyer-supplier relationship.† E-Commerce allows companies to conduct business on theShow MoreRelatedEssay on Pros and Cons of E-Commerce556 Words   |  3 Pages Pros and Cons of E-Commerce nbsp;nbsp;nbsp;nbsp;nbsp;Electronic commerce or e-commerce involves the buying and selling of products or services over the internet. Put simply, e-commerce means conducting business online. E-commerce software programs run the main functions of an e-commerce web site, including product display, online ordering, and inventory management. This software resides on a commerce server and works in conjunction with online payment systems to process payments. 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