Inflation Management in Sri Lanka free essay sample

Amarasekara (2008, p. 37) also concluded that in most sub-samples, inflation does not decline following a contractionary policy shock, possibly due to the longer lag effect. Innovations to money growth raise the interest rate, and when inflation does respond, it reacts to monetary innovations faster than GDP growth does. International Monetary Fund (2008) showed that changes in policy interest rates have significant effects on output but a small impact on inflation. Credit does not respond strongly to changes in policy interest rates. 3. Objectives of the Study The Central bank conducts monetary policy to achieve its one of primary objectives of price stability by changing interest rate and money supply. Therefore, the main objective of the study is to identify the relationship between the interest rate and inflation in Sri Lanka. A successful monetary policy strategy requires an understanding of the relationship between operating instruments of monetary policy (i. e. interest rate) and the ultimate goals like the price stability and output. We will write a custom essay sample on Inflation Management in Sri Lanka or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, the study will help to identify the effectiveness of policy rates as a monetary policy instrument for inflation management. . Model, Methodology and Data Analysis Model and Methodology A regression model will be used to estimate the effect of key variables on inflation. The main concern of the study is the effect of the interest rate on the inflation. However, the model will be incomplete without including the variables below. This study tries to improve past models done by Sri Lankan economists by including additional macroeconomic variables namely; unemployment (UN), budget deficit (BD) and foreign inflation (FI) to remove any omitted variables bias. In this analysis, MMR is used as changes in policy rate are immediately transmitted to MMR. Inflation: According to previous literature, past inflation has an effect on current inflation through expectations. Here the Colombo Consumer Price Index (CCPI) is used. Exchange rate (ER): Changes in in the exchange rate affects the price of exports and imports in the country, and thus has a direct effect on inflation as Sri Lanka is heavily depend on international trade. GDP growth (GDP): The GDP is seasonally adjusted to capture seasonality. Unemployment (UN): According to the Phillips Curve there is an inverse relationship between unemployment and inflation. Foreign Inflation (FI): In 2011, imports accounted for 37. 6% of GDP (CBSL Annual Report 2011) in Sri Lanka, and therefore prices of goods and services of Sri Lanka’s major trading partners can have an influential effect on inflation. Budget Deficit (BD): Most of the past literatures in Sri Lanka have omitted this important variable. However, public finance is an important issue in Sri Lanka and the effect of Monetary Policy cannot be studied without it. Data Collection For this study quarterly data will be obtained for all the variables from the first quarter of 1996 to the last quarter of 2011. The main data sources of the analysis are Annual Reports of CBSL, Monthly Bulletins of CBSL, other publications of CBSL, Annual Reports and Quarterly Reports of the Department of Census and Statistics of Sri Lanka, and the World Bank Report 2011-2012. Analytical Tools The OLS regression model will describe the significance of key variables of the model and the effectiveness of the model in explaining the objective of the study. Apart from the simple OLS regression analysis, various econometric models will be used to obtain outcomes such as unit-root tests, Granger causality tests, impulse response and AR-root tests and Vector auto regression. The Ramsey’s Reset Test will be used for checking functional form mis-specification of the model. The normality of errors and other non-spherical disturbances will be checked using White’s Test (for Heteroskedasticity) and Durbin Watson Test (for serial correlation). The model also will be tested by omitting the interest rate variable and regressing the restricted model using J-Test to determine if the model is very different.

Great Barrier Reef essays

Great Barrier Reef essays The Great Barrier Reef is the worlds biggest coral reefs in the world. Its so huge, at 2,000 km (1,200 miles) long, that it can be seen from the Moon! Its taken 18 million years for the Great Barrier Reef to get to the size it is today. The Reef consists of 2,900 (geocities.com) separate reefs it also has an area of around 344,000 km ². North Queensland is known for its natural beauty. The Great Barrier Reef is considered a great vacation spot. Its great for diving and snorkelling. There are many resorts all over small islands. It is quite easy to become engulfed in the whole reef experience. It's colourful, exotic, and strange sea life make the Great Barrier Reef very unique and special. The Great Barrier Reef is made up of accumulated skeletal remains of zillions of marine polyps from the Coelenterata family. New polyps continue to grow on the lime-based structure and are continually added to the reef. However, coral needs a number of preconditions to ensure healthy growth. The water temperature must not drop below 63.5 degrees Fahrenheit, sunlight must be able to reach the coral, and the water must be clean and salty. Although sadly, this gorgeous reef is slowly being destroyed by both animal and human faults. Such faults are carelessness like walking on the coral without a care, dropping anchors on the coral, dragging diving gear over them, breaking them and taking them home as souvenirs and knocking and grounding boats on them. But these are just a few examples of how humans treat the reef. Also things like pollution such as sewerage, oil spills, fertilisers and pesticides damage the reef, it spreads though the water then kills off living creatures. Prawn trawling destroys up to ten times more creatures than are actually harvested. Endangered marine turtles are still dying in nets, huge areas of seafloor are laid waste by destructive trawl gear. Millions of tonnes of sediment and chemicals pour into the ree...

Terror Risk Assessment and Counter-Terrorism Strategy Essay

Terror Risk Assessment and Counter-Terrorism Strategy - Essay Example A quick strategy that many governments adopt when confronting terror is one of deterrence. However, one academic’s discussion points out that deterrence is hardly an effective strategy, although it still is a crucial part of any comprehensive plan. Deterrence, in the case of Israel for example, requires extreme, â€Å"Draconian† measures for success and thus defies justice. Overall, the most effective form of deterrence may be an all-out assault on the leadership structure of a traditional terrorist organization, but little else can be done. (Radlauer) That said, the best counter-terror strategy is a readiness for a response after the movement of the attack begins, but before it can be effectively carried out. In a sense, this can be compared to structuring a vehicle to be durable and ensure the safety of its passengers in the case of an unavoidable accident.One of the most devastating possible terrorist attacks is the use of a biological weapon, as chemicals and diseas es are a threat to human life that can arrive undetected and cause massive loss of life from a small source. For potential terrorists, biological weapons present a method of destruction that requires a lower level of infiltration and effort with a high-yield result. A research fellow from the Center for Non-Proliferation Studies describes how the Israeli government’s counter-terror efforts in the realm of biological and chemical attacks present a model for the US government to follow when making policy.... Deterrence, in the case of Israel for example, requires extreme, â€Å"Draconian† measures for success and thus defies justice. Overall, the most effective form of deterrence may be an all-out assault on the leadership structure of a traditional terrorist organization, but little else can be done. (Radlauer) That said, the best counter-terror strategy is a readiness for response after the movement of the attack begins, but before it can be effectively carried out. In a sense, this can be compared to structuring a vehicle to be durable and ensure the safety of its passengers in the case of an unavoidable accident. One of the most devastating possible terrorist attacks is use of a biological weapon, as chemicals and diseases are a threat to human life that can arrive undetected and cause massive loss of life from a small source. For potential terrorists, biological weapons present a method of destruction that requires a lower level of infiltration and effort with a high-yield re sult. A research fellow from the Center for Non-Proliferation Studies describes how the Israeli government’s counter-terror efforts in the realm of biological and chemical attacks present a model for the US government to follow when making policy. He describes how the Israeli government provides a kit to all citizens, free of charge, consisting of a gas-mask and sterilization tools. This is part of an overall strategy that recommends keeping a â€Å"sealed body in a sealed room† during the event of a biological attack, and also recommends that citizens set the radio to a station playing only static while sleeping—this station is used by the government to broadcast warnings. However, these strategies may not be practical in the US, where society is not so

Ohio Infant mortailiy rate Essay Example | Topics and Well Written Essays - 750 words

Ohio Infant mortailiy rate - Essay Example The two journal articles are â€Å"The Impact of Prenatal WIC Participation on Infant Mortality and Racial Disparities† (Khanani et al., 2010) and â€Å"Infant death among Ohio resident infants born at 32 to 41 weeks of gestation† (Donovan et al., 2010). The journal article by Khanani et al. (2010) entailed a research project that sought to assess the significance of Special Supplemental Nutrition Program for Women, Infants, and Children as a measure to enhance birth outcomes and reduce racial disparities in Ohio. On the other hand, the journal article by Donovan et al. (2010) entailed a research project that sought to assess the infant mortality rate of Ohio children born at 32 to 41 weeks. Apparently, the two journal articles have different research questions. The article by Donovan et al. (2010) sought to determine the gestational age-specific and the adjusted infant mortality rates for Ohio residents. The journal article by Khanani et al. (2010) sought to establish how prenatal Women, Infants, and Children services influence infant mortality rate and racial disparities in Ohio. Notably, the two articles used a retrospective cohort design to collect data. In the article by Donovan et al. (2010), the research relied on a multivariable regression analyses to collect data on all Ohio births and infant deaths from 2003-2005. In the article by Khanani et al. (2010), the research relied on data from the Ohio Department of Health, Bureau of Nutrition Services, and Department of Vital Statistics. The data collected included infant deaths, live births, and WIC prenatal participants from 2005 to 2008. The research excluded duplicate records and used a Visual Basic program to link the WIC prenatal enrollee data to the live birth data using specific data elements (Khanani et al., 2010). The research also used the infant death certificate to collect infant death data and linked the infant death records using

The Theory And Practice Of Organisations

The Theory And Practice Of Organisations Various theories have been significant in forming and recognising organisations. Throughout the twentieth century, the theory and practice of organisations have been modified from a more traditional management approach were efficiency and profits were the main goals to a more networked approach where service and user satisfaction are the focal points (Hughes and wearing 2007). Each organisation is different. Differences relate to varying missions, demographics, location, physical environment, management style, levels of funding and financial conditions, and whether the organisation is public, nonprofit, or for-profit, among other factors. This essay will discuss the importance of organisational mission/vision statements, structure, resourcing and service in distinguishing human service organisation from one another as well as provide theoretical analysis on how this can influence the organisations practices and services. Human service organisation is the word often used to describe health, welfare, and educational organisations, and is generally identified as organisations whose goals are to provide some kind of service for people individually or communities (Gardner 2006). Human service organisations set out influence in structuring the nature of social work practices. The agency provides the decree and authorisation for carrying out societies order in regard to the health and well-being of the citizens and regulates the resources essential to accomplishing this work (Hanson, 1998). Human service organisations obtain their purpose from community needs and priorities, as characterised by the social settings at any given time. In many ways social work practice is established , facilitated, and at the same time controlled by the purposes and operating modes of human service organisations. In theory , purpose is comparatively consistent across all human service organisations in that in a broader sense meet the needs and contribute to the well being of consumers , and to contribute to the overall social welfare (Jones and May 1992,pg.84 , as cited by Gardner 2006).It is imperative that the overall vision does conveys the broad hopes of the organisation as well as comprehend the intricacy of its purpose. Womens Domestic Violence Crisis Service (WDVCS) is a Victorian State-wide service for women enduring violence and abuse from a partner or ex-partner, another family member or someone else they are close to. Women Domestic Violence Crisis Service acknowledge the diversity of women and childrens experience and supplies a response that respects the unique needs of the individual woman and their children. WDVCS will ensure that the response meets the requirements of the organisations funding and service agreement and its legal obligations. The organisation through feminists realised the importance of servicing woman who have been experiencing domestic violence, and the wants for those women to be safe. At the beginning, WDVCS started from several individuals houses, were they would answer phone calls to service the community, to what is now classified as an organisation. The philosophy of the organisation is that violence is not acceptable on the basis of human rights and that women expe riencing domestic violence have the right to be safe. Domestic violence does not affect one certain type of individual but in fact affects a vast array of individuals from across all levels of society and from all types of religious, ethnic and race groups. The Womens Domestic Violence Crisis Service of Victoria (WDVCS) acknowledges that the staff of the organisation are a vital and valuable resource. WDVCS has an obligation to supporting the growth and preservation of a demographically diverse workforce that is highly skilled, motivated and resourced to ensure quality and continuity of service delivery. All staff of WDVCS are expected to work within the Philosophy, Policies and Procedures of the organisation and abide by the Code of Conduct. WDVCS is not an auspice, it is a corporate association in its own right which means WDVCS has its own board, CEO, coordinators and staff .WDVCS has four coordinators, Telephone crisis coordinator, accommodation coordinator, communication coordinator and Quality committee coordinator. All of whom supervise the phone team and accommodation team. The Communication coordinator works on community development and media projects which was established by WDVCS in 2008, the aim of the project is to educate women on how to share their experience in domestic violence to the public via the media and also to empower women to respond to media in a self-assured way. The board of WDVCS is responsible to set all WDVCS strategic plans of the organisation. The board insures all the risk managements of the organisation, as well as ensures that the CEO utilises the organisation resources, budget in order to carry out the strategic plan. WDVCS has nine female board members who came from diverse factions o f the community. Organisational structure frequently involves an array of values and beliefs about the roles and responsibilities on how decisions should be made by using a criterion. The Womens Domestic Violence Crisis Service of Victoria (WDVCS) has a commitment to feminist, democratic work practices. It is essential that decision-making authority be informed by processes that are participatory, democratic, transparent and responsive to the needs of women who use the service. There are two ways decisions can be made ,formal and informal, the formal part is governed by board .WDVCS is not a very hierarchical organisation as such. The organisation has regular meeting, quality committee which involve staff member who have inputs to the organisation policy and procedures via quality meeting and they make recommendation for same policy to be taken for further discussion on staff meeting, CEO of the WDVCS stated in the interview that they take a more democratic and concise of organisation decision making but the end of the day the final decision lies back to CEO. Workers involvement and input to worker meeting and quality meeting result in less frustration with organisational superiors as participation allows workers to feel somewhat accepted. The community does not have much input on the organisation decision making process , however if user or community member were interested in the organisations decision making process they can be nominated to join the board that way they can become more involved. The only way the organisation receive input from community is the feedback from their clients via telephone service and through women who access the accommodation but it is an area the organisation is working on to improve via WDVCS website. So the community can have an opportunity to have an input and provide feedback. The Womens Domestic Violence Crisis Service of Victoria (WDVCS) is committed to a rights advocacy direct service delivery model. The service model emphasises a crisis intervention response, which prioritises safety, informed choices and the rights of women to control decision making about available alternatives. This service model offers high quality crisis intervention, counseling, advocacy, support, information, referral and emergency accommodation services to women and their children who are victims of domestic/family violence. The service model is primarily focused on reinstating women and their childrens right to live safely in the community. This service delivery model supports the unique role of the WDVCS as the only statewide telephone crisis service and supported emergency accommodation service provider for women and children who are victims of domestic/family violence. The Womens Domestic Violence Crisis Service of Victoria (WDVCS) recognises the basic human rights of all w omen and children to: safety, shelter and food; live free of fear and violence; and dignity and respect. WDVCS is committed to providing responses that respect the rights of women and their children to be supported in their efforts to be free from violence in an environment that is safe from physical, sexual, emotional/psychological, economic and verbal abuse.The primary service users of WDVCS are women and their children who are victims of domestic/family violence. The Majority of the WDVCS service users are self referral, however they might get a hold of WDVCS information from other services in the sector such as the police, other domestic violence services, community health or the yellow pages. WDVCS has a policy to empower women even if other service do initial referral WDVCS staff will make sure to speak to woman to hear her story with empathy Today, viewpoints toward how organisations should be run vary considerably from the classic bureaucracy expressed by earlier theorists. Efficiency has culminated to have its appeal as the most crucial goal or characteristic of organisations. The work environment itself is seen as a critical variable in how much and how well organisations function to attain their purposes. In todays view organisations are dynamic, developing and changing in interaction with external stimuli. Partnerships within and between organisations form and restructure among employees and interest groups as each searches for to improve its own interests. Within this framework, each organisation cultivates a unique philosophy that influences how it functions (Hanson, 1998). Human service organisations are so different; it is not feasible to touch on all the aspects that affect the organisational base of practice. Internal factors have to do with decisions largely made within the organisation about how it will accomplish its business. External factors include social welfare laws and regulations, judicial decisions, funding allocations, and the level of competition among similar agencies in the community. These and other factors determine the parameters in which the organisation functions and set the boundaries for social work practice within them.

Percy Jackson and the Olympians: The Lightning Thief Essay -- mytholog

My original thought when comparing Percy Jackson and the Olympians: the Lightning Thief the movie and Classical mythology was that there would be many more references to the myth of Perceus than any other myth throughout the movie in its entirety. That’s where I was wrong. After watching the movie again and researching the different hero myths my opinion has changed. My new thoughts are that the movie is not influenced by the myth of Perceus any more than other hero myths. The movie ties together many different heroes’ stories and mixes them together to make a wonderful story about a young boy. The movie was based on a book series written by Rick Riordan. Percy Jackson and the Olympians: the Lightning Thief the movie is about a young boy who has just discovered that he is a demi-god Percy Jackson. His father is Poseidon and his mother has been keeping it from him for many years. There is a lightning bolt that is stolen from Zeus on Mt. Olympus and Zeus believes that Percy has stolen it and demands its return by the summer solstice. In the mean time Percy gets attacked by multiple magical and mythological beings. There is a camp that demi-gods are safe from these things which is where Percy’s mother and his protector, Grover, take him to. This is where Percy’s journey begins. After a few days of being at the camp he realizes what he has to do. His mother was taken by Hades to the underworld and Percy has to save her all while trying to prove to Zeus that he did not steal the Lighting bolt. This is the true start to Percy’s quest. He made a few friends in the camp and they agreed to go on this journey with him. Those accompanying him were his protector Grover and Athena’s daughter Annabeth. They also get some helpful tools fro... ...but they also believe that it is influenced by current day books such as Harry Potter more than Greek myth. Even though the movie and book may be influenced by these pop culture books that is to say that those books are not influenced by Greek myth. There are influences of mythology all through the world and most things in the world are influenced by mythology in some way. References "Percy Jackson & the Olympians: The Lightning Thief." IMDb. IMDb.com, n.d. Web. 27 Nov. 2013. . Siegel, Dr. Janice. "Dr. J's Illustrated Lectures." Dr. J's Illustrated Lectures. Dr. Janice Siegel, 26 Nov. 2005. Web. 30 Nov. 2013. . "Camp Half-Blood Wiki." Wikia. Wiki, n.d. Web. 5 Dec. 2013. .

Marketing Plan for Sony Xpreia Essay

The following report is a marketing plan for Sony Ericson Mobile in Australia for the 2012-2013 financial year. The Sony Ericson brand continues to grow in unpopularity after several years of underperformance. This has occurred due to Sony Ericson trying desperately to hold onto its premium brand image that comes with a high cost and not focusing its resources on finding the right target market that suites its technology and innovation. The marketing plan will focus on the mobile market and critically analyse this market in Australia. Also analysing Sony Ericson as a company, as well as its competitors, customers and SWOT analysis. Sony Ericson has missed a critical market that its innovative technology would fit perfectly with. This report will argue that by incorporating the tween market through this marketing plan Sony Ericson will be able to stop the growth in unpopularity that it has created over the last few years. Introduction In this report the Sony xperaplay smart phone will be critically analysed in terms of its market segmentation, current objectives, the market it targets, Sony occupies an irreplaceable position in the gaming world, and its subsidiary, Sony Ericsson, also has strong competitiveness in the mobile phone industry. Sony combined mobile techniques with their own gaming technology, which created the Sony Ericson Xperia Play. Xperia Play is a mobile phone with incredible game function which is targeted at young adults and gamers, and has a good reputation within the customers. The marketing strategy that was implemented has directly targeted a specific market, young adults. As a result of this it has made the product have a fairly subjective target market which Sony can seek to increase potential target market by repositioning the Xpera Play phone towards a younger audience. This campaign will reposition it to focus on tweens. Situational Analysis Sony Ericson currently targets older teenagers through to young adults for its mobile phone. But it seems that the mobile phone is lost within this market as the market share the xperiaplay holds compared to many other smart phones in this market is very small, Even thou Sony Ericson is a well known and well respected brand. The drop is caused due to the fact that Sony have been targeting the wrong market. Company Analysis The marketing decision makers for Sony Ericson are the Senior Brand Marketing Manager. Sony Ericson has not been consistent in promotional activities for its mobile phones. Mostly the brand focuses on trying to hold its premium image with marketing mostly focusing on its premium range of smart phones. This has reflected in its sales, it has made consecutive losses since 2010. The most likely reason for its lack of successful campaigns is the lack of resources dedicated to designing and implementing campaigns to attract the right target audience, which is why the company continues to make losses and lose market share. PESTL Analysis Political Proposed legislation such as the carbon tax which will raise prices of shipping. Many businesses have had to raise the cost of their products to make a profit. Also this tax affects outlet stores in terms of electricity charges, which will again raise the prices of mobile phones as business tend to pass on the cost to consumers rather than bearing it themselves. Economic While the global financial crisis has affected a plethora of industries, The Australian economy has remained relatively strong with per capita households spending an average of $40000 (CIA 2010). Despite this consumers have cut back on spending, specifically on items such as food, entertainment, clothing, cars and mobile phones. Ergo the economy is slowing down because consumers are not spending enough money; This affects the sales of mobile phones majority because consumers are not spending enough money on replacing or updating their mobile phones or on entertainment. Also another economic factor is the high Aussie dollar causes imports to be cheaper because countries such as china which manufacture the product have a low rate currency. This means that the companies are able to import more products for a lower price. Socio-cultural Recent consumer trends within the gaming product market are driving a new theme of product innovation. Today’s society tends to be busy and on-the-move and want to increase their leisure time at their own discretion. To meet the needs of consumers, companies are innovating gaming products making it more mobile. In addition the functionality of the multiplayer platform has created a whole new range of social aspects where consumers are able to interact with each other. Technology Technology can be utilized as an advantage within the industry as it provides the ability to design and create new products and expand or promote to specific target markets via interacting with consumers on an online basis. Technology has allowed the ability of online shopping as consumers are leaning towards this option as the most popular option of shopping. The internet has opened up a whole new market with the use of social media networks and websites companies can easily target a global target market. As the rate of technology is increasing consumers are able to communicate with each other on a social multiplayer platform where content may be purchased online and downloaded straight to their device. Legal Sony company has always been one of the main victims of the piracy in game industry. The characteristics of this phone are powerful game function, but it also made it easy to create pirating games. Compared with Sony’s genuine products, pirated products have a huge price advantage, the fact that they are mostly free, and this does attract a lot of people try to obtain these game products illegally, and that is the reason Sony has to use the Copyright law to protect their game products, so their game products can make a maximum profit Rating System for games is required, Users are able to download a lot of games to this phone through the network, according to the Rating System, which these games have to limit the players from downloading content not suited to their age. This is needed to protect kids from Violence and pornography. SWOT Analysis Strengths Remains as a one of the kind device that could become a big hit Not many phones competing in the same category Tactile buttons provide more immersive gaming experience Delivering console quality games Designed portable gaming in mind Include a game pad with input controls and interface recognizable to hardcore gamers. Multi touch gadget powered by Android Gingerbread is one of best versions of Android OS†¦ Weakness’s Release of two more phones from the Xperia line during the same time Not many people buy just for gaming purposes Touch screen gaming controls are not as responsive and precise Suffer key hardware limitations Lacks 4G LTE, HDMI port Touch sensitive circle are not as responsive and don’t replace the precision of actual joysticks Touch sensitive circles are just not as responsive as we would like, and do not replace actual joysticks. Android games don’t support the controller buttons No backups for downloaded games/ purchased games CPU AND GUP not the best Display has poor viewing angles No smart dialing and shutter key†¦ Opportunities A new open market Parent company Sony owns EA and many other gaming companies games can be adapted to be able to be played on the xperia Can earn a lot of revenue from game purchases and applications Better quality Games compared to other phones Exceptional online experience to grow a customer base Strong customer demand High percentage of young adult market High disposable income in rising market Threats Chain stores not wanting to stock a new niche mobile phone independent stores not wanting to store Sony Ericsson phones Retail stores wanting bigger discounts to sell phone because of popularity of competitors models Competitor products such as iphone, htc, Motorola Aussie dollar going back down Retail stores having preferred suppliers or contracted with particular suppliers and having a non compete Competitors copying the innovation of PSP phone and supplying at a cheaper price Fully fledged gaming devices such as DS Objectives Mission Statement Sony Ericson mission statement: â€Å"To provide quality end to end communications services to both retail and small to medium corporate customers† and â€Å"To give them the most help we ever can in the most professional way†. Market Objectives Maintain and increase sales in specific target market. Advance and open up new market for kids and teenagers. Increase the brand awareness among the target market; to measure this objective, the organization will conduct interviewer-led surveys in shopping centers or on the street every three months. Increase the brand share by 1% within two years, which will be confirmed by periodically checking the brand share chart for growth indication. Establish multi-channel retail practice, especially focusing on internet retail, to expand sales. Adapt and respond to the wide consumer needs of products. Sales objectives Increase sales by 15% in first year. Increase sales by 30% over three years. Increase market share to 20% of the total target market segment within three years. Communication objectives Set up feedback section for Xplay on website Increasing Feedback questionnaire response rates Competition There are 100’s of companies which make thousands of mobiles phones. Which break down further into smart phones and non smart phones. This makes the mobile phone market very competitive. The average price of mobile phones in Australia range between $300 and $800. Sony Ericson phones tend to price in the premium range with their mobile phones ranging from 700 – 900 AUD, Which limits the retail segment for Sony Ericson even further. The main competitor for Sony Ericson is the Iphone, as it has the largest share market of any phone. A selection of the primary target market competitors is found in table 1. A secondary group of target can be found in figure 1.They are secondary only because of they are not as used as the primary competitors and others do not compete in the mobile phone market but in the game market. These are still considered competitors due to the type of phones Sony Ericson make which has a heavy focus on gaming. Primary Secondary Iphone Alcatel Samsung Blackberry Nokia Amoi HTC Sonim LG Playstation Portable Motorola Nintendo DS Competitive Advantage Sony Ericson currently is the only brand that is making a mobile phone combined with a portable gaming device. Sony Ericson mobile phones are made by Sony which is a multinational company owning many companies in many areas. Including gaming, Sony owns EA, one of the leading gaming brands in the world. Sony Ericson is one of the most well known mobile phone brands in the world. Sony Ericson has innovative designs and materials, which is appealing to the target market. Customer Analysis Even though the product is a smart phone, price is a major factor for the Australian consumer. The primary consumer is primarily young in age, and they demand value for money at a competitive price. The product must also fulfil their everyday needs. The other factors that are important to the consumer are quality, comfort, function, style, design, speed, image, status, power, and functionality, variety of apps and games and durability. Target market Segmentation and Positioning Profile market segments Geographic segmentation People can purchase the Xperia play anywhere in the world. Entire Australia will be the target market for this product, but mainly focuses on the three biggest cities, Sydney, Melbourne and Brisbane. Demographic segmentation Xperica Play targets this product for Tweens age between 12 to 15. Generally young people do not have a high income they may have to persuade parents to purchase this product. Psychographic segmentation These days’ young people are experiencing a rapid lifestyle which leads them to save time including spending time to play games. The sales potential for this specific product is high as little kids enjoy playing video games and interact with their school friends. Targeting Tweens (12 – 15) The sales potential for this specific market is high as little kids enjoy playing video games and with this product they are able to interact with their school friends. Tweens will be able use the ability of pester power to allow their parents to purchase the Xperia Play for them. There for the price of the product may be moderate as they consumers parents have the income to pay for the expenses. There is also a large market share as tweens receive their first phone and they will be influenced by the video game functions. Young Adults (16 – 25) The sales potential is for this specific market is high as the age group has a moderate income and will be likely paying for their own expenses therefore they will be able to make their own decisions on what product to purchase. The cost structure can be moderate as they will have sufficient funds to pay for the Xperia Play. The Market share for this market is high as the consumers are able to purchase their own applications at their discretion. Other 26+ The sales potential for this specific market is fairly low as the age group has inadequate time to pursue the leisure activity of gaming. Although this market may have greater income the phone may not have the functionality that this market is looking for. The competitive situation is not that good as this market may be looking for a product that provides better communication functions opposed to video game functions. Select Target Segments Tweens of the ages of 12 – 15 tend to have a large amount of leisure time; the large majority enjoys new technology. The specific Target market locations will be in Australian located in the major cities. The use of Pester Power amongst tweens may persuade parents to purchase this product increasing total sales. Tweens tend to be more social, opposed to older generations because they have more free time available, Tweens have the opportunity to react with each other, and this can be an opportunity to allow the consumers to utilize the multiplayer functions leading to multiple purchases by peers increasing the total revenue. Xperia play will attract the target market with the phones functionalities, lower price range as the target may have lower income, social benefits and essentially the video games. After careful analysis and evaluation, the target market segment chosen will offer the greatest potential for the product and consumers. It provides maximum sales potential increasing the sales revenue and total market share, and will have a competitive advantage within the young audience. Positioning The Sony Xperia play will undertake a market positioning strategy where the target market will perceive a valuable offering in relation to competitors. The experience that the Xperia can provide is of a fun nature opposed to a professional business nature as a fundamental aspect is the slide out gaming functionality. The phone has a very innovative design and functions; the price of the phone will be of a moderate price as the target market chosen tend to go for the cheaper options. Although the price of the mobile phone may not be expensive, a high quality must be met as customer generated media can play a vital role in the decision making process of consumers. The service that will be provided is comprehensive; it has a specific market where owners of an Xperia Play are able to purchase and download various games and applications which will be of high convenience in regards to the user’s discretion. Following these set of attributes will help position the Xperia play to the assigned target market and provide a competitive advantage in relation to other products. The target market segments will perceive this product as the dominant offering. Product Xperia Play is a gaming mobile phone with incredible function which is targeted at young adults (age 12 to 15) and gamers. The phone has a very innovative design and functions; the price of the phone will be of a moderate price as the target market chosen tend to go for the cheaper options. Brand name highly impact on the target market due to the variety of good quality related with technology. Sony’s slogan is meant to make people smile, so it tried to design mobiles like Xperia Play to deliver the Sony’s purpose. Sony encourages their customers to buy this mobile phone by giving guarantee for their high quality products. Place Mobile phones will be sold through online retail stores, big Australian retail stores such as JB HIFI, etc, as well as smaller retail stores, Telco’s such as Telstra, Optus etc online store as well as retail stores, Stores specializing in mobile phones such as crazy johns, all phones etc, Sony Ericson’s own retail stores and its online website, department stores and Technology stores. The opportunity exists to expand the distribution network in all areas listed. However the main outlets to target are Telco’s as this is the first stop where consumers go to buy mobile phones, the second would be bigger retail stores such as JB HIFI as they have a larger customer base and the ability to attract more customers, the third main outlet to target would be specialized mobile phone stores such as crazy johns and all phones as they constantly are advertising and attracting new customers as their main focus is mobile devices, these outlets must be targeted throughout Australia. A selection distribution policy will be undertaken for the Sony Ericson mobile phone range, the main focus will be on customers mainly tweens who have not owned a smart phone before and are upgrading to one, but the priority will remain with tweens who enjoy gaming. Price The Sony Xperia play phone ensures that a high standard of quality is present whilst having an appropriate selling price that is both beneficial for the company and contains a positive perceived value towards the customers. The mobile phone will be introduced through mobile phone service companies and their plans with additional costs, such as Telstra, Vodafone, Optus etc, and will provide a range of packages and discounts to create a satisfying option for the consumers. As consumers are aware of various other phones and deals that are arising within the market a mid-to-low price range that is competitive in relation to other phones will be evident, as it also relates to the target market of tweens. In addition various pricing policies will be needed according to different functionality of the device such as memory which can relate to a variety of customer’s needs. The price that is chosen will allow the company to maximize their benefits as well as customer satisfaction, the price may be reduced to allow for a competitive advantage and the revenue will be received through the use of the phones applications and video games designed specifically for the phone that may be purchased on the online market. Promotion The phone appears on Sony Ericsson’s official website as well as some mobile phone retailers’ Web sites, so re-set up a special introduction is necessary, set up some special entertainment features on the official website of the Xperia play, such as virtual phone system experience, the online game demos, in order to improve user interaction. Television Xperia play will spend $100,000 on television advertisements during peak times where tweens would be watching TV, this is justified as tweens spend on average about 35% of their time watching television, The time that is most suitable is before and after school, on such television channels featuring cartoons and such television shows such as The Shak, Total Girl, Toasted TV etc. The advertisement will be relative to the target market as they are presented during the specific time. Printed Media Xperia play will be promoted through magazines considering that tweens are the second largest market for magazines having a market share of 50%. Magazines such as K-zone, total girl, KIDS, M.A.D. will be sold with vouchers for the Play station network. When purchasing these particular style of magazines usually they customer will receive promotional items, therefore there will be available game demos within the magazine. Public Transport Various imagery of posters will be placed on public transport on specific bus routes located around the streets of primary schools. This will allow maximum awareness throughout the target market of tweens as they will be exposed to the media on buses trains and bus stops. Official website and Forums Gaming forums are popular amongst tweens due to the fact that they can provide information regarding the video games such as hints, cheats and walkthrough guides. The Xperia Play will be implemented throughout these particular websites containing imagery and videos related to the xperia play and contain various reviews. Consumers will be able to gain information about the xperia play and its applications, registered accounts will also receive weekly emails offering a range of discounts and download vouchers Evaluation and Control – Campaign evaluation is a critical component of the plan as is the justification for the overall effectiveness of the campaign in the core areas. There are a range of factors that can determine the effectiveness of a marketing plan as shown in figure 3, such as: ï‚ · Brand awareness – this will be achieved through surveys of the awareness of mobile phone brands on consumers ï‚ · Consumer attitudes – this can be achieved through surveys done on the general public in regards to Sony Ericson and if they’re brand is a good or bad brand. ï‚ · Test promotion activities – this can be achieved through evaluating if sales are on an upward trend as well as brand awareness since the launch of the plan ï‚ · Review marketing mix – this can be achieved through evaluating sales and profit to see if they have gone up, it means the marketing mix is effective ï‚ · Sales review – this can be achieved through evaluating sales to see if they have gone up, it means the marketing mix is effective ï‚ · Profit review – this can be achieved through evaluating profit to see if they have gone up, it means the marketing mix is effective ï‚ · Review company objectives reviews – this can be achieved through evaluating the entire marketing plan to see if it has been effective in achieving the original objective if not it has to be altered. ï‚ · Market share – this will be achieved through surveys on websites such as Facebook etc. of what brand of mobile phone individuals own. Figure 3 The marketing team will approach various kids’ magazines and the Sunday mail. Websites The Management team will contact various gaming websites in order to promote the product throughout their sites The website development team will edit the website to allow consumers to gain relative information. Public Transport The Marketing team will contact Translink in order to allow the approval of promotional items suitable posters will be placed at public transport areas Television advertisement The Marketing team will gather various information on the most appropriate times to view advertisements for the specific product, it will allow maximum brand awareness to the target market Bundle Pack The Management team will contact various mobile phone service companies and give acknowledgement of specific offers In store Testing The Management team will ship out testing devices to mobile phone service companies so that consumers are able to experience the device Evaluate campaign The main managers and CEO will go through intense analysis of the situation to evaluation every aspect of the marketing plan in order to provide additional help where needed to ensure that the objectives are met by the deadline. Conclusion/ Recommendation This report set outs the marketing plan for the Sony Xperia play mobile phone in Australia. As outlined in the report, the target market consists of the target market of tweens that are aged from 12 to 15. The sales objective was to increase sales by 15% within the first year and 30% within three years and increases the market share by 20% over three years. The main marketing objectives are to main and increase sales within the specific target market of tweens and increase the total brand awareness. Essentially the Xperia play will be reposition to adapt and respond to a wide consumer need of products. Promotion activities will include magazine, newspaper, websites, Public Transport areas, Television advertisements and mobile phone bundle packs References ^ The Definition of Marketing. American Marketing Association.http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx. Retrieved 2011-04-04. 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