Research Articles Base: Hong Kong Sample Assignments

Sample Hong Kong was truly great place to visit as it provide Essay

Hong Kong was truly great place to visit as it provides better way to relax and relieve stress of life and have fun at the same time learning new things that broaden our horizons. During my Hong Kong visit, I have learned three important values that I can and will apply in my daily life. First, learning the value of friendship, that friendship is one good source of inspiration when you are traveling as for me when I visited Hong Kong, the people are very warm and friendly. Like for example, during my visit to Hong Kong’s Ocean Park, the staff and management of the adventures from the place was so nice to me, telling me wonderful stories of how creative animals are like the dolphins, they taught how to feed dolphins right and from there, I found friendship in them. I agree that no man is an island, so therefore, every time I go on vacation or a trip, I will always take in me the value of friendship despite the fact that we have certain cultural difference, it never hinder me to embrace friendship during my trip in Asia’s most renowned night market – Hong Kong city. Thus, another indication for valuing friendship was that during my trip to Hong Kong Disneyland, I can see many family and friends around taking pictures from one character to another as in my case, my good friend is with me and we took picture together with the famous character, Mickey Mouse. Learning that in life, the value of friendship is unique and that it can make your journeys full of fun, joy and laugher as you savor each moment just like myself, I took each moment special knowing that friends are just around giving their support and most captivating smiles. Also, I even found special friendship with the dolphins at the Ocean Park, these charming creatures are friendly and will entertain friends nicely.                 The second lesson that I learned from my visit to Hong Kong is that I found the value of handwork and patience as the people in Hong Kong are working hard just to earn money even during nighttime. How people value their work despite problems is amazing and that the patience of persuading customers was really cool. The value of handwork and patience in everything is really important, I feel that every individual should value their work and be patient enough for some adjustments that goes with it, after all life is not that easy to live everyday, we have to patient in reaching our dreams and if it does come true then, it must be accompanied with right attitude and handwork. The other example I can share relating to the values mentioned was that during my Hong Kong visit, I have observed that the busy streets of the city during nighttime are really exerting handwork in selling goods to people especially to the visitors of the place as one incidence was that when one person is singing love songs from one corner of the busy streets just to give happiness on the people walking and if the people would make song requests, they have to give certain amount to the person singing the song. Noticing, that handwork was everywhere the place and the patience it served to those nighttime vendors on the streets. I have learn to have patience in the things I do in life that will be of happiness and to others and that during my visit to Hong Kong, I take in me that handwork is really a factor to achieve success and be contented of my life no matter what it brings me and wherever my faith leads me, I am learning life over and over again.                  Lastly, learning the respect for culture and nationalism was evident as my visit to Hong Kong provided certain imaginative avenue of my creative imagination because of the beautiful theme in becoming witness to Hong Kong’s unique spirit and candid beauty. Strolling around its busy streets and making gazes to many fascinating lights, I learn that every place deserves full respect for valuing the culture and nationalism that embodies the country, the feeling that I can be proud too of my country’s culture and its events and learning that every culture has its amazing worth that are found in such aspects of human life and how people recognize a good and healthy lifestyle Furthermore, applying the nationalistic value also in my beloved hometown is what capture me most, after my trip in Hong Kong, I can really say that I am so blessed to be in my own land, united with its nature and environment, free to move and that everyday I can feel that I am safe and secure wherever I go and also realize the value of calmness and serenity of soul. The places I had been in Hong Kong were really nice places and are one of the factors for me to say, Oh! I’m in-love with my country’s unique spirit because Hong Kong helped me realized it. Credit:ivythesis.typepad.com

Sample Hong Kong was truly great place to visit as it provide Essay

Hong Kong was truly great place to visit as it provides better way to relax and relieve stress of life and have fun at the same time lear...

Hang Seng Assignments

Module: Innovation Lecturer: Table of Content:     1. Introduction                                                            p.3   2. How to manage innovation in organizations  p.4   2.1  – 6 general categories of       managerial practice                                                p.6   3. Creativity and innovative at Hang Seng           p.7   3.1 Hang Seng – Background                                     p.8   3.2 Training                                                                   p.8   3.3 Motivation                                                               p.8   3.4 Freedom                                                                p.9   3.5 Work Group Features                                           p.9   3.6 Organizational Support                                          p.9     4. Develop creative and innovative activity at     Hang Seng                                                              p.10   4.1 The Changing Market                                            p.11   4.2 Communication                                                      p.12   Conclusion                                                                  p.12   References                                                                  p.13         1. Introduction   In the past decades, companies were able to get rich by making average products for average people, but those markets have long since been sewn up; mass is no longer achievable or desirable. It is today an accepted fact that innovation is essential in all organizations. Innovation can increase synergy from information sharing, joint initiatives, integrated policy, investment in R&D and benchmarking.   Innovation involves the introduction of something new within an organization, which may relate to a product, a process or a service. Innovation may be radical or incremental.   While innovation typically adds value, innovation may also have negative or destructive effect as new developments clear away or change old organizational forms and practices. A key challenge in innovation is maintaining a balance between process and product innovations where process innovations tend to involve a business model which may develop shareholder satisfaction through improved efficiencies while product innovations develop customer support however at the risk of costly R&D that can erode shareholder return.   There are several types of innovation, which include production innovation, management innovation, process innovation, service innovation and marketing innovation.             2. How to manage innovation in organizations   In general innovative organizations, they devote specific resources to research and development, spent money on training, communication, knowledge transfer, and ideas generation, rewards and pipeline administration. These methods could maximize employees’ creativity.    (1998) carries out a research on how to manage creativity within the organization. She suggests that individual creativity is a function of three components.        1. Expertise (technical, procedural and intellectual knowledge) <li class="MsoNormal" style="color: black; text-align: justify; line-height: 150%"> Creative thinking skills (flexibility, imagination, perseverance) </li> <li class="MsoNormal" style="color: black; text-align: justify; line-height: 150%"> Motivation </li>   When give talks to managers, she often start by asking where in your organization do you most want creativity? Typically, they’ll say R&D, marketing, and advertising. When she asks, where do you not want creativity? Someone will inevitably answer, “Accounting.” That always gets a laugh because of the negative connotations of creative accounting. But there’s this common perception among managers that some people are creative, and most aren’t. However she suggested that’s not true. As a leader, you want everyone in your organization producing novel and useful ideas, including financial people.   The greater the expertise, the broader of knowledge, which the employee can work in exploring and solve problems. Expertise and creative thinking skills in an organization will be a function of recruitment and selection, training and development. Motivation is arguably the component over which a manager can exercise the most immediate control. In  experimental research that has been done on creativity suggests that money isn’t everything but money can be a creativity motivator. In the diary study, she asked people, “To what extent were you motivated by rewards today?” Quite often they’d say that the question isn’t relevant — that they don’t think about pay on a day-to-day basis. And the handful of people who were spending a lot of time wondering about their bonuses was doing very little creative thinking.   Bonuses and pay-for-performance plans can even be problematic when people believe that every move they make is going to affect their compensation. In those situations, people tend to get risk averse. Of course, people need to feel that they’re being compensated fairly. But in her research shows that people put far more value on a work environment where creativity is supported, valued, and recognized. People want the opportunity to deeply engage in their work and make real progress. So it’s critical for leaders to match people to projects not only on the basis of their experience but also in terms of where their interests lie. People are most creative when they care about their work and they’re stretching their skills. If the challenge is far beyond their skill level, they tend to get frustrated; if it’s far below their skill level, they tend to get bored. Leaders need to strike the right balance.   In order to motivate the staff, reward system need to set up systematically, otherwise it will influence the effectiveness of innovative activity. The reward systems cannot be only emphasized on extrinsic reward such as individual performance. Although it is necessary to provide sufficient extrinsic reward to maintain employee’s motivation, the effectiveness of a reward system with only extrinsic reward is neither high enough nor sustainable if intrinsic reward is not properly included    (1997) describes that direct remuneration aim to strengthen and expand the linkages between performances, individual and work group contribution to that performance and the distribution of rewards. But the indirect rewards are also important to promote job satisfaction and work motivation.   2.1  – 6 general categories of managerial practice   In  research, there are six categories that managers can do to enhance creativity.   1. Challenge   Of all the things managers can do to stimulate creativity, perhaps the most efficacious is the deceptively simple task of matching people with the right assignments. Making a good match requires that managers possess rich and detailed information about their employees and the available assignments.   2. Freedom   When it comes to granting freedom, the key to creativity is giving people autonomy concerning the means that is concerning process but not necessarily the ends. Give employees the freedom to find new paths to new solutions, unleashing their creativity.   3. Resource   The two main resources that effect creativity are time and money. Time pressure can heighten creativity; organizations routinely kill creativity with fake deadlines or impossibly tight ones. When it comes to project resources, managers must determine the funding, people and other resources that a team legitimately needs to complete an assignment and they must know how much the organization can legitimately afford to allocate to the assignment.   4. Work Group Features   If you want to build teams that come up with creative ideas, you must pay careful attention to the design of such teams. The group must have diversity of perspectives and background so that teams comprise people with various intellectual foundations and approaches to work.   5. Supervisory Encouragement   Managers in successful, creative organizations rarely offer specific extrinsic rewards for particular outcomes. However, they freely and generously recognize creative work by individuals and teams often before the ultimate commercial impact of those efforts is known. By contrast, managers who kill creativity do so either by failing to acknowledge innovative efforts or by greeting them with skepticism.   6. Organizational Support   Organizational systems and culture need to support collaboration and the free exchange of idea. Take expertise. The more often people exchange ideas and data by working together, the more knowledge they will have. The same can be said for creative thinking.           3. Creativity and innovative at Hang Seng   3.1 Hang Seng – Background   Hang Seng Bank is a world-class financial institution and one of Hong Kong’s largest listed companies in terms of market capitalization. The company was founded in 1933. Hang Seng Bank is a principal member of the HSBC Group, which is among the world’s largest financial services organizations and holds a 62.14% equity interest in the Bank. Hang Seng bank is the largest local bank in Hong Kong, its vast network of about 150 branches and automated banking centers means a Hang Seng outlet can be found around most corners. Hang Seng is currently expanding in China. It has 18 outlets in Beijing, Shanghai, Guangzhou, Dongguan, Shenzhen, Fuzhou and Nanjing. Hang Seng is strengthening their position as a leading financial institution in Greater China.   3.2 Training   As concept, Hang Seng understand that employees are its most valuable asset, Hang Seng Bank allocates ample resources to staff training and development with the aim of sustaining a competent and professional staff force that will contribute to the success of the Bank.   Newcomers would be assigned to an experienced manager to providing you with on the job coaching and guidance, so that by the end you will know your division inside out. All new staff joining the bank will attend in induction programmed which enables them to better understand the history, culture and values of the bank, making it easier for them to integrate with other staff members and adapt to the new environment.     3.3 Motivation   When you need guidance or inspiration, business head will be there to be personal mentors. They will guide you in your personal and professional development, using their expensive experience and expertise to make sure you stay on the right path.   3.4 Freedom   Within Hang Seng bank, there are many different business departments, which include personal banking, business banking, investment banking, private banking etc. Each department provides different kinds of products and services. Each department has its kind of freedom but also comes with responsibilities. Business units can set their own targets but once they set them, they have to achieve them.     3.5 Work Group Features   Providing quality service and building a trustworthy relationship with client is one of Hang Seng’s strength. In order to achieve that, every staff would need to pay extra attention on the clients. For example, in commercial banking, there are different teams to handle different industry, so each team is more focus on their clients. Each team normally have 20 people, lead by a team who have expensive experience in the specific sector.   3.6 Organizational Support   Hang Seng launched a series of reforms to promote a greater balance between the work and home life of each employee. These included an employee assistance programmed to deal with personal and career issues, medical service, stress programmers leave of absence for childcare and many others employee benefits.     4. Develop creative and innovative activity at Hang Seng   Hang Seng Bank is strengthening its brand experience for customers. Is brand is all-important in appeal to customers in this age of “instant access” and is Hang Seng’s primary source of competitive advantage. But in the new marketing era we are in today, Hang Seng’s brand has to keep evolving. Above all, it has to convey to customers that: Hang Seng embrace innovation and continue to deliver memorable and rewarding experiences to them.   Hang Seng’s brand represents a culture of everyday innovation that permeates through all levels of the organization and inspires staff. Innovation is not just about product R&D, it is also about continuous improvement in all Hang Seng’ business processes, including delivery, cost-efficiency and corporate effectiveness.   In Hang Seng Bank, they have a well-established system to encourage staff to achieve this target. They reward staff that makes proposals for cost reduction and revenue generation. Each year, they give special awards to staff and departments that are able to change and innovate. The level of award depends on the amount of saving or revenue generated. Indeed, this is one of the reasons why Hang Seng’s cost-to-income ratio is well below the industry average. Their ratio of 25.3% last year was most attractive against the local banking average of 37.8%, and one of the lowest in the banking world.    (1998) suggests that after determining the need for change, the next step is to find the proper individuals to champion the change management effort. A change management champion must be a leader in the organization and should be recognized for the continuing contributions to the company’s mission.       4.1 The Changing Market   I am sure there is no need for me to tell that today, the world and the market are changing with unprecedented speed due to technology. Technology is entering our lives in more and more ways and there is growing acceptance of all things “e”. People can read Sun Tzu’s The Art of War on Palm Pilots, use mobile phones as alarm clocks and apply for IPO shares on the internet.   Competition is becoming hyper as new competitors from around the world target the same pool of customers. Customers are now better informed and are taking good products, personal service and low prices for granted. Market competition is continually raising their expectations and unhappy customers are only a mouse click away from a competitor’s website.   The internet is becoming a major channel for two-way dialogue with customers. The website not only gives customers information about the organization.   Hang Seng’s business models have had to change accordingly, to meet new customer demands in the rapidly developing market. Most importantly, instead of finding customers for our products, we now have to find products for our customers.   As  (2001) states it involves developing both the ability to scan for signals about change and a readiness to move into new areas and let go of old ones. It suggests that the primary task is one of managing knowledge, developing and building distinctive competence in particular fields, adapting and absorbing new and different knowledge sets when it becomes necessary and moving out of particular knowledge areas when they become redundant.   4.2 Communication   An effective system of communication, both lateral and vertical is essential. Effective communication in an organization is a manifestation of a cooperative and purposeful group of people at work. Creativity and innovation can flourish in organizations with effective communication.   To strengthen Hang Seng’s innovation culture, they have appointed head of retail banking as Innovation Champion, set up a task force, and launched a Bank-wide Innovation Quest. This includes a staff e-education plan, articles in the in-house magazine and morning broadcasts of interviews with well-known businessmen.   Traditional management by objective just directly advocates specific goals and feedback. However, the major benefit of using participation is that it appears to induce individuals to establish more difficult goals. ( 1997)     Conclusion   In today’s dynamic world, markets will continue to change whether we like it or not. We have to innovate with the best use of technology to bring positive brand experiences to customers. Knowing our customers individually through tools such as data mining, personalization and 1-to-1 marketing is the key to the future.   Hang’s Brand is clearly differentiated promise to customers. It has to be an ongoing demonstration of customer care and value. Creating a positive brand experience enhances our ability to compete. It is also a very important tool for building and retaining customer loyalty.       Credit:ivythesis.typepad.com

Hang Seng Assignments

Module: Innovation Lecturer: Table of Content: 1. Introduct...

THE FUTURE OF THE RIVER TRADE INDUSTRY IN HONG KONG

Proposed title: The future of the of River Trade industry in Hong Kong   As Hong Kong is located at the central of Asia, it becomes one of the major hub ports between US, Europe and various Asian countries, especially for South China who rely on Hong Kong’s port infrastructure & others facilities to support their fast economic growth for past years. Even there are great numbers of piers and terminals in Pearl River Delta, owing to limitation of water draft of those small piers or terminals. Usually vessels who larger than 1000 Teus capacity cannot enter those domestic ports which distributed around the Pearl River Delta and Guangxi, except for some international ports, e.g. Shenzhen port and Nansha port. Moreover cargo volume of those South China ports cannot justify for large vessel to berth individually. Based on the above conditions, it enables many feeders and barges providing services between Hong Kong and South China ports.   Synopsis There are many feeders running services to/from Hong Kong and various ports of South China. Due to strong competition between Hong Kong terminals and Shenzhen port, plus fast growth by road and air transportation in South China. Another threat is fast growing terminals in Shanghai, Ningbo & North China. More and more vessels have direct calling to those ports, Hong Kong as hub port’s role is minimizing.   The idea is come from my daily contacts with feeder companies, now the river trade market is facing difficulty, owing to strong competition from several aspects, I would like to explore/elaborate more about the environment of river trade in Hong Kong.   Aims Describe its functions and how the river trade industry can influence Hong Kong and South China’s economies. Analyze its competitive advantages compare to others substituted mode of transports. Elaborate its threats & opportunities and try to get an answer whether this industry can be survived under such strong competition and treats. Try to suggest some solutions to improve its competitive power.   Objectives -Measure its’ contribution to the shipping industry of HKG - analyze its’ environment - evaluate its future   Information to be collected -          Statistics data from Government & companies -          Regulations from Hong Kong Government -          News/events from Hong Kong Trade Development Council, magazines and newspapers -          Feedback or suggestions from related parties, e.g. feeder companies, mid-stream operators, carriers & container terminals through visits and questionnaires.   My information is going to come from -          Census and Statistics Department of Hong Kong -          Marine Department of Hong Kong -          Hong Kong Port and Maritime Board -          Hong Kong Trade Development Council -          Trade and Industry Department -          Hong Kong Shipper’s Council -          Terminals/river trade users & operators (e.g. shipping companies, feeder companies & mid-stream operators) -          Telephone inquiries / visits / interviews -          others   Credit:ivythesis.typepad.com

THE FUTURE OF THE RIVER TRADE INDUSTRY IN HONG KONG

Proposed title : The future of the of River Trade industry in Hong Kong As Hong Kong is located at the central of Asia, it becomes one o...

Assignment Questions/ Tasks : Wan Chai Market

Scenario/Background:   In 1937, Wan Chai Market was completed in Hong Kong Island. Her design features included streamlined moderne of the Art Deco, symmetrical façade, cantilevered shading fins and simple streamlined form.   The Market keep conservation not only for the essence of the long-term sustainability and integrity of the Wan Chai community, but also for the enhancing the overall cultural identity in our society.   A Cultural Development Council desires to fund the community to renovate the Wan Chai Market as a New Cultural Centre to fulfill the new demand in the public. Integrating art and information technology, the Cultural Centre will provide new facilities to support an amalgamation of tangible and intangible sources of information.   The total usable floor area of Cultural Centre is about 5,000 SF in any two continuous levels. It will hybrid of various functions including reception, information media centre, exhibition gallery, workshop, café, bookshop, meeting room, office for 5 staff, small pantry, toilets and store room. It will be a place closely associated with the community form part of the life of citizens.     Your Task:   <p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; text-indent: -24.1pt; line-height: 200%; layout-grid-mode: char; margin-left: 24.1pt; margin-right: 0in; margin-top: 12.0pt; margin-bottom: .0001pt"> 1.       Part 2A – Prepare your own Working Brief (approximately 500 words) in A4 format which included: client identification and venue, project title and scheme title, at least 3 to 4 aims, client expectations, audience recognition, client and user needs, design considerations (aesthetic and practical), design philosophy and approach. It should also include a Scope of Works that relates to the brief and your programme. MY CUILTURAL CENTRAL CENTRE  – IS CHINA WEDDING CULTURAL   <p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%; layout-grid-mode: char; margin-left: 24.0pt; margin-right: 0in; margin-top: 12.0pt; margin-bottom: .0001pt"> Part 2B – In tandem with your design research and design development work, produce a Written and Illustrated Background Contextual Report (approximately 1,500 words) in A3 format which should both support your design exploration, but demonstrate a strong contextual enquiry which is broader based. <p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%; layout-grid-mode: char; margin-left: 24.1pt; margin-right: 0in; margin-top: 6.0pt; margin-bottom: .0001pt">   MY DESIGN STYLES IS USE  – TRADITIONAL CHINA INTERIOR DESIGN <p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; line-height: 200%; layout-grid-mode: char; margin-left: 24.1pt; margin-right: 0in; margin-top: 6.0pt; margin-bottom: .0001pt">   <p class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph; text-indent: -24.0pt; line-height: 200%; layout-grid-mode: char; margin-left: 24.0pt; margin-right: 0in; margin-top: .25in; margin-bottom: .0001pt"> 2.       Part 4 – Write and illustrate a Design Report in A3 format providing commentary on realisation of scheme (approximately 1,000 words). This is a conclusive report, when the design work has been concluded and the design has been finalized. The report should be written is a way that promotes and explains the design and also discusses the design philosophy.     MY CONCLUSIVE – WHRN ( WAN CHAI WEEDING CARD STREET DEMOLISH ), I WANT KEEP SOME TRADITION CHINA WEDDING CUILTURAL AT WAN CHAI MARKET .   Credit:ivythesis.typepad.com

Assignment Questions/ Tasks : Wan Chai Market

Scenario/Background: In 1937, Wan Chai Market was completed in Hong Kong Island. Her design features included streamlined moderne ...

The Hong Kong SAR government just uses human rights to make it appears legitimate; it does not have a real commitment to promoting human rights :Assignment Topic

The Hong Kong SAR government just uses human rights to make it appears legitimate; it does not have a real commitment to promoting human rights :Assignment Topic

I need your assistance for an assignment with the following topic: ” The Hong Kong SAR government just uses human rights to make it appear...

Essay Instructions on Law of Succession and Probate Practice

Law of Succession and Probate Practice (a)   In relation to a will, explain the rule of ademption. (b)   Explain the effect of divorce on a valid will. (c)    Ho, a merchant seaman, is caught in the typhoon in the south china sea. Ho fears for his life and use the ship’s radio to pass the following massage to the port authorities: “if I don’t make it, I want everything to go to my girlfriend, May.” Ho survives the typhoon, though he dies of a heart attack on his return to Hong Kong. Ho is survived by his wife, Joan and his two children. (i)                 Has Ho made a valid will? Explain the issues involved. (ii)               Assuming that Ho dies having made a valid will, explain the procedure to be observed in dealing with the estate. (iii)             Assuming that Ho dies intestate, explain how the estate might be distributed.   please answer all these questions in 2000 words, base on Hong Kong Law, not the other country. please find case to support the answer. and please hand back to me ON TIME. Credit:ivythesis.typepad.com

Essay Instructions on Law of Succession and Probate Practice

Law of Succession and Probate Practice (a) In relation to a will, explain the rule of ademption. (b) Explain the effect of divorce ...

Assignment Essay Instructions: What is the service organisation’s front stage and back stage functions?

Assignment Essay Instructions: What is the service organisation’s front stage and back stage functions?

Could you please help to quote for below’s assignment? What is the service organisation’s front stage and back stage functions? Present t...

Essay instructions on protocol proposal of Extension of the Retirement Age in Hong Kong

Essay instructions on protocol proposal of Extension of the Retirement Age in Hong Kong

As referring to our dialogue this morning, please kindly start to prepare the > protocol proposal, in more details, as follows on or be...

HK 2011 BUYER BEHAVIOUR ASSIGNMENT 1

HK 2011 BUYER BEHAVIOUR ASSIGNMENT 1   Table of content 1. Introduction…………………………………………………………. 1 2. Market segmentation……………………………………………. 1 3. Product positioning………………………………………………. 2 4. Pricing …………………………………………………………………. 3 5. Distribution strategy…………………………………………….. 5 6. Promotion Strategy………………………………………………. 6 7. Product………………………………………………………………. 10 8. References………………………………………………………….. 12   1. Introduction The Sony Play Station Portable (PSP) has just approach into the Australia market. It packs a powerful multimedia punch and provides consumers to enjoy the favorite games, music, videos and photos instantly anytime. Factor in the PSP system’s brilliant high – resolution screen and cutting – edge wireless connectivity and internet browser. According to the leads over the pond at the register, Sony 185,000 PSP’s in the UK this past weekend, smashing the previous three – day record, set by Nintendo’s DC. Sony’s sales, said market watcher chart track, which provided the statistic, makes the PSP’s UK debut the most successful console introduction in the territory yet. The PSP went on sale in the UK on Thursday, 1st September, and chart Track’s total combines sales on that day plus those of Friday and Saturday Nintendo sold 87,000 DS handhelds in the first three days of the device’s availability, Blimey that’s a lot of PSP’s. 2. Market segmentation (D. Decision – process influences) 1. Do different individuals use different evaluative criteria in selecting the product? First of all, consumers consider a set of evaluative criteria before buying a product. Secondly, different customers would use different sets of evaluative criteria. According to the text book, “evaluative criteria are the various features a consumer looks for in response to a particular type of problem.” So that evaluative criteria depends on the person purchasing. For example, before purchasing a PSP, a consumer may concern with number of games available, screen resolution, and space of memory. These are evaluative criteria for people who just want to play games on the console. On the other hand, someone else could approach to PSP with a totally different set of evaluative criteria, such as number of movies available, shape, sound effect, speed for internet surfing. These criteria are used by people treat PSP as a multimedia entertaining machine. Therefore, for the same product, different individuals would use different evaluative criteria. 2. Do potential customers differ in their loyalty to existing products/brands? In this case, potential customers can be divided into two groups, users and stickto- Sony customers. Users will pay attention to new product and games; it’s relatively hard for them to be loyal to any existing products/brands. Sony Loyalty customers, which might be minority, will stick to their loyal brand, they will intend to buy new product from Sony, include PSP. 3. Product positioning (B. Decision-process influences) 1. Which evaluative criteria are used in the purchase decision? These evaluative criteria can be used in the purchase decision: • Price – Price is a fundamental evaluative criterion for most of customers. Customers have to be provided with relative purchasing power before they enter the purchasing process. • Battery consumption – Battery is an important evaluative criteria when purchasing a portable console, or portable multimedia player. Customers would prefer the battery can last longer for long usage time. • Memory space – Memory space relates to how many times that games can be saved, capacity for downloadable content, movie trailers and other essential information. Consumers would prefer a bigger memory while using. • Games – For loyalty and games players, games choice is very important. More games can be played with the console, more consumers would be attracted. For example, some consumers they might not plan to buy a PSP. But if they saw some games that they interested in, they might consider buying one. Moreover, games’ price is also an important evaluative criterion. The games’ price can influence the sale of the console because of games are complement goods to the console, if the price is too high, it will influence other consumers’ decision. • User interface friendly – Whether the console is easy-of-use. • Screen (resolution and size) – A high resolution screen can provide a better vision effect to players, such as color and the 3D vision. Some consumers would pay more attention to the vision effect. Besides large screen size makes better effect as well. • Multiplayer allowance – Multiplayer allowance could definitely bring more fun. It allows players play against the others by connecting consoles together. • Compatibility – Whether the console can be connected to other related consoles or computers for exchanging data and information. • Accessory – Accessories, such as memory stick Duo, AC adaptor, battery pack, headphones with remote control, soft case and wrist strap, car adaptor, accessory carrying case and cleaning cloth. Accessories also can be part of the evaluative criteria for consumers seek for better outfit. • Life – How long it can be used until it’s replaced by next-generation consoles, and secondly the usage life. • Warranty – Warranty is kind of the confident that the Company gives consumers. A good warranty condition can influence a consumers’ decision. • Loading time – Loading time which is the loading speed. It’s very annoyed by spending long time waiting until the game is loaded while playing. Less loading time refers to the hardware and space of memory. 4. Pricing (D. Decision – process factors) 1. Can a low price be used to trigger problem recognition? According to the text book, “Problem recognition is the first stage in the consumer decision process and it must occur before decision making can begin…the recognition of a problem is the result of a discrepancy between a desired state and an actual state which is sufficient to arouse and activate the decision process.” In this case, whether to purchase a PSP refers to the problem recognition. In current console market, PSP is the latest and the most expensive one, the official console price for PSP is 9, games and UMD movies vary from .95 to .95, although PSP equipped with multimedia playing ability, most people would buy PSP as a console only. The price is a bit high for customers who mainly are low-income teenagers. Indeed, lowering price would definitely trigger problem recognition. For example, when the PSP approached into the market, consumers might not be ready to buy a PSP due to lack of purchasing power. If they see the PSP with a reasonable price, they might be interested to buy one. 2. Is price an important evaluative criterion? Is price likely to serve as a surrogate indicator of quality? Price probable is certainly an important evaluative criterion for consumers before purchasing a product. Firstly, before purchasing a new product, consumer had to consider their purchasing power. Every consumer has different purchasing power, such as different people have different income. Secondly, if the price is reasonable, people who are not interested in playing games may start to pay attention to PSP’s other functions; they may end up buying PSP as portable multimedia player. Therefore, price can influence consumer to make a decision on buying things thus it is an important evaluative criterion. In this case, price is likely to serve as a surrogate indicator of quality. The PSP is made by most advanced technologies and hi–tech electronic materials which normally cost higher price, in another word, the cost would be low if the parts are outdated and low-end. Therefore, most of electronic product equipped with outstanding performance cost higher than the rest in the market. Regards to PSP, the price can be seen as a surrogate indicator of quality. 3. Are consumer likely to respond to in-store price reductions? Consumers are likely to respond to in-store price reductions, for the reason that will increase the customer purchase motivation, as well as the price is the most important evaluative criterion. The customers always walk into store to browse or check the information of products. When they saw the price is reduced, sometimes they will purchase the items immediately. 5. Distribution strategy (D. Decision-process factors) 1. What outlets are in the segment’s evoked set (the set of alternatives that will be considered for the solution of a particular problem)? Will consumers in this segment seek information in this type of outlet? There are 13 outlets when customers seek for purchasing: • EB Games • GameRush • MYER • Harvey Norman • Dick Smith • JB Hi-Fi • Target • Big W • K-Mart • DoDo Shop • Duty Free Shop • Sony Shop • E-Shop According to research the Dick Smith sells PSP at 394 dollars and 350 dollars member price in www.kutoo.com.au. In addition the Downtown Duty Free Shop sells a kind of PSP package; included one PSP console and one game for 0. Most customers will not seek information in this type of store because PSP already publish and put in circulation in America, Japan, and some Asian countries. The most of them already got the information from internet or magazines. Nevertheless, there are some players will still seek information from the outlets, such as price. 2. Which evaluate criteria does this segment use to evaluate outlets? These evaluative criteria can be used to evaluate outlets: The evoked set for buying a PSP: 1. EB Games 2. GameRush 3. Sony Shop • Price – price is the most important criteria that will influence customer to buy the product. • Location – people would always look for product in the closest outlet. • Promotions – special offers will always attract customers such as Downtown Duty Free shops promote the special PSP package. • Refund policy – such as Myer have the good refund policy, if customer not satisfied the performance of products, they can bring the receipt and product to return and get totally refund within 14 days. • Warranty – warranty is very important for the new technology product, if the machinery is broken down the warranty will free repair within the period of guarantee • Option of Game – due to PSP just new arriver, some stores don’t have too many choices of the games • Staff – staff’s knowledge of PSP is important for customer to seek information and also staff’s attitude in attending to customers • Financing – customer can to have possession of PSP immediate just to pay small amount of deposit 3. Is the outlet selected before, after or simultaneously with the product/ brand? To what extent are product decisions made in the retail outlet? In this case, for purchasing a PSP, consumers often select outlet after the product or brand. As we mentioned before, PSP had been released earlier in other countries. Most of the players have already made a decision to buy a PSP before it approach into Australian market and they put the deposit in pre-order list from different outlets. The outlets for PSP player is not really important, cause the most important is to get the PSP. 6. Promotion Strategy (D. Decision-process influences) 1. Will problem recognition occur naturally or must it be activated by advertising? Should generic or selective problem recognition be generated? There are two kinds of situations, for the loyal customers or people interested in new technology or novel staff the problem recognition occurs naturally. They would keep seeking latest information and always be aware of new stuff. But for most of non-players who are not always tend to master all this sort of information, problem recognition must be activated by advertising then, such as parents choose their kid’s birthday presents, they may started thinking of buying after browse an ad. Generic problem recognition refers to the recognition of a discrepancy that a variety of brands within a product category can reduce. Selective problem recognition refers to the recognition of a discrepancy that only one brand in the product category can solve. (Neal, Cathy M. 2002) In this PSP case the generic problem recognition was generated, for the reason that PSP is not the very only product when people goes after a portable console or a portable multimedia player, there are many other brands can be found as NDS and GBA or PDA and palm. 2. Will the segment seek out or attend to product information prior to problem recognition, or must its members be reached when they are seeking the information? Can low-involvement learning processes be used effectively? What information sources are used? In this case, there are two groups of potential customers. One group is PSP players who are interested in video games or trendy stuff. These customers will seek out or attend to product information prior to problem recognition. And others would attend to stores or official webpage and brochures for getting information. It is believed that low-involvement learning processes be used effectively. Lowinvolvement products which are bought frequently and with a minimum of thought and effort because they are not of vital concern nor have any great impact on the consumer’s lifestyle. Advertising can persuade the customer, especially where low-involvement products are concerned. There are few information sources are normally used, Internet, magazine, newspaper and Internet. 3. After problem recognition, will the segment seek out information on the product/brand, or will we need to intervene in the purchase-decision process? If they do seek information, what sources are used? In Australia, segment will definitely seek out information on the product. Due to the release of Australian version is half a year after launch in Asia and North America. Setting information and users’ feedback from those areas can be viewed from internet and presswork. They are helpful for customers to get an in-depth introduction. But at the same time, after problem recognition, customers will go to different stores and enquire for detailed price and promotions, so they can get the best deal. Therefore, dealers don’t have to intervene the purchase-decision process, but they would influence customers’ directions. When customers seek information themselves, they may use internet, game magazine or information from friends. 4. What types of information are used to make a decision? There are 7 types of information to make a decision, and this sticks to the marketing theories: 1. Product 2. Place 3. Promotion 4. People 5. Physical evidence 6. Process 7. Price 5. How much, and what types of, information is acquired at the point of purchase? The PSP has just approach Australia’s market, the price is 9.95. Moreover, normally game magazine cost around to , internet and BBS fees cost no more than , virtual mail is for free. 6. Is post-purchase dissonance likely? Can it be reduced through the promotional campaign? Yes. According to text book that post-purchase dissonance means doubt or anxiety about the correctness of one’s decision after a purchase has been made. Yes, it can be reduced through the promotional campaign. However, the after service and refund policy must be very straight-forward and comprehensive, for instance if consumers are dissatisfied with the performance of PSP, whether it can be refund or the after service can be charged in reasonable price. There are also a special pack for sale such as buy one PSP plus 2 games for 9. 7. Has sufficient information been given to ensure proper product use? According to research, since the release of PSP in Asia and North America, Sony started throwing several promotional campaigns in Australia for preparing the official launch of Australian version (Area 4), billboard mostly. The content describes an obvious PSP logo trailed by a series of well-regulated notes, game controllers, and film frames, and they all go into the pocket located on the back of a girl’s jeans. This billboard graphically describes the major functions that PSP equipped. On the other hand, virtual ad-mails were sent to Sony Playstation members in OZ and Playstation world-wide official homepage present a detailed description of PSP’s features and introduced the best way to maintain the PSP for achieving best performance and usage life. Moreover, there are different kinds of presswork in those outlets sell PSP. The presswork gives potential customers a general idea of PSP’s performance and functions. So, apart from any unexpected quality problems occurring, Sony has provided sufficient information which ensures the proper use of the product. 8. Are the expectations generated by the promotional campaign consistent with the product’s performance? PSP’s Australian version (area 4) was released on 1st Sep 2005. According to observation; there are large crowd of pre-ordered people waiting for the launch in front of every game outlet around 00:00am, local TV channels reported such situation. It proves that Australian players were possessed with high expectations. Since then, regards to interview with outlet staff and press released on Sony official webpage, the sales of PSP kept increasing, it is no doubt that PSP’s outstanding hardware and software have attracted more and more people and satisfy them. It is to be believed that PSP will take over considerable amount of market in a short period of time. 9. Are the messages designed to encourage repeat purchases, brand loyal purchase, or neither? From those messages delivered to customers in Australia, there are not any signs or metaphors indicating encouragement of repeat purchases. One thing is to be considered, PSP in white color has just been released in Asia, so it may land in Australia sooner or later. It may affect people who are console collectors, but there are not any promotions about white PSP until today, and spend 9 just for a color change might not be accepted by most of players. Besides, Sony didn’t monopolize the issuance of accessories, so speakers screen protectors developed by Logitech, and PSP bag made by Porter are all available in the market, and Sony didn’t force customers to purchase PSP and accessories from Sony shop only. In this case, Sony doesn’t anxious to establish customers’ brand loyalty towards PSP, but as complement goods to PSP, games and UMD movies will help PSP to take over the console market for sure. 7. Product (D Decision-process influences) D.1. Does the product/brand perform better than the alternatives on the key set of evaluative criteria used by this segment? PSP = Sony’s Playstation Portable NDS = Nintendo’s Dream Swan GBA = Nintendo’s Game Boy Advance (Ratings varies from 1~3, 1 = worst, 3 = best) According to the statistics, PSP successes in most evaluative criteria when compare with NDS and GBA (won 8 out of 12). Evaluative criteria PSP NDS GBA Price 1 3 2 Battery consumption 1 3 2 Memory space 3 1 2 Games 1 3 2 User interface friendly 3 3 2 Screen (size & resolution) 3 2 2 Multiplayer allowance 3 1 1 Compatibility 3 1 2 Accessory 3 1 2 Life 3 2 3 Warranty 3 2 3 Loading time 1 3 2 8. References • Neal, Quester and Hawkins, 2002, Consumer Behavior: Implications for Marketing Strategy, 3/e McGraw-Hill. • www.au.playstation.com • www.kutoo.com.au • www.yourpsp.com.au Credit:ivythesis.typepad.com

HK 2011 BUYER BEHAVIOUR ASSIGNMENT 1

HK 2011 BUYER BEHAVIOUR ASSIGNMENT 1 Table of content 1. Introduction…………………………………………………………. 1 2. Market segmentation…………...