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Time Management Method for Prioritizing Daily Tasks

Design your method for prioritizing daily tasks, describe your method When I prioritize my daily tasks and I am feeling particularly organized, I use the method developed by Stephen Covey, as discussed in his book on The Seven Habits of Highly Effective People. Coveys method involves creating a matrix that is divided into four sections, each of which contains different time-specific activities (The time management matrix, Brief Group, 2012). The activities in the upper left hand corner are designated as urgent and important tasks. These are tasks that must be taken care of as soon as possible, within a short time frame. These tasks might include homework assignments due that day, studying for a test, getting to work on time, going grocery shopping, or getting the car fixed. The second, lower-left quadrant tasks are urgent but less important. These might include making plans for the evening, reading the news online, or returning daily emails to friends. The upper right hand quadrant i s devoted to non-urgent, but important matters, such as long-term planning for my future career. This might include polishing my resume to submit it for better jobs, looking for a cheaper place to live, or making arrangements to go to a networking event. These are long-term goals that must be achieved so I can continue to move forward in life. They might not get worked on every day, especially on a busy day with many urgent tasks, but if I ignore them for too long I may fall behind inShow MoreRelatedTime Management Tips For Employers953 Words   |  4 PagesTime Management Tips for Employers If you are an employer and small business owner, time management becomes critical for making the most of your business, achieving your goals and even fostering loyalty from customers and employees. The following five time-saving tips will help you get more done in your available time without generating stress or working 80-hour weeks. 1. Planning Your Work Planning your work is the most important strategy for effective time management. The small business ownerRead MoreHuman Resource757 Words   |  4 PagesCritique the prioritizing process at D.D. Williamson D.D. Williamson was founded in 1865 and has grown into a multi-billion dollar global organization. It has nine natural coloring operations in five continents. With that being said this means that nothing but quality and execution is expected out of D.D. Williamson. According to Case Study 2 â€Å"Prioritizing Projects at D.D. Williamson†, D.D. Williamson uses Outlook to database to keep track of much of its project and daily work. Outlook is a greatRead MoreProject Management : Building Team And Managing Human Resources776 Words   |  4 PagesAll of subjects in project management are very important. 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Although adult learners are just as capable as understanding new information as younger learners, the adult learnerRead MoreProblems Associated With Poor Time Management For Students1304 Words   |  6 PagesIntroduction Time management is an essential aspect that the students must learn in order to achieve their goals and build their career. The skills of time management initially provide a relief from the stress as well as later helps the students to be focused towards their targets as well as their performance for achieving the targets. Thus, if the students are not able to manage their time effectively, then there may arise various issues in their personal as well as academic life (Michael). InRead MoreThe Success Of The Middle Age Adults Essay1731 Words   |  7 Pagesof themselves can propel the learner towards their desired academic goal successfully. 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Groupon Strategy Free Essays

1. How have companies like Groupon affected the pricing strategy of firms? Historically, companies have issued coupons in order to attract new business or irregular customers that seldom purchase a company’s products and/or services, with the hope that they come back more often. This is consistent with the idea that getting new customers is more expensive that maintaining a customer base. We will write a custom essay sample on Groupon Strategy or any similar topic only for you Order Now Companies’ approaches when issuing coupons have usually been one of three: 1) taking a small hit (loss) in order to stimulate subsequent buys (â€Å"loss leaders†), 2) incentives and bonuses (free items when another one is purchased), or 3) making a lower profit, but nevertheless a profit, by issuing price discrimination coupons. All in all, these approaches usually constitute a minimal economic encouragement that only super-couponers seem to really take advantage of. Groupon and its competitors, on the other hand, offer discounts that are usually much more aggressive, usually 50% or more off the retail price (keeping half of the transaction value for itself). Since these social, mass deals reach high numbers of consumers, these daily coupons that make available large discounts have eroded from the consumers’ minds the idea of a fixed retail price. Companies that do use the Groupon approach hope in the mass success of the discount and that a portion of those new customers will become regulars. But for companies that don’t adopt the Groupon model for issuing discounts, they risk losing or never getting those customers that don’t want to pay the full retail price, specially if those customers never bought any goods or services from them. Nowadays, companies’ pricing strategies that don’t consider the effect of online social coupons on their own margins might lose their appeal if they continue issuing regular, unattractive coupons that average consumers would not consider appealing enough. The consumer is not necessarily dependent on the terms dictated by the vendor anymore. . How have companies like Groupon affected consumers’ perceptions of prices? For consumers other than super-couponers, meaning, those consumers that are not like bargains but don’t spend the time to hunt for the best deal, Groupon and its competitors have been revolutionary: these companies find attractive businesses, negotiate with them the deals, and deliver the coupons in convenient, effortless ways for consumers to find (online, in mobile devices, via e-mail and social media as friends’ recommendations, etc. ). For these consumers that didn’t or maybe couldn’t find the best deals, the best deals and finding them, making the purchase experience fast and convenient. And even for free, if enough of your friends buy a deal you recommended to them. In this sense, the buying experience has become a more interactive, social experience, where the best deals and shared and echoed online. This is making customers exponentially smarted, maybe not about the true cost of products and discounts, but certainly about what they and their friends are willing to pay for them. Groupon has also broadened the standards of what consumers are willing to spend money on, especially when it comes to more unusual experiences that were not part of a buyer’s purchasing habits. As long a the price is low enough, Groupon is making it possible for consumers to spend their money on great deals for, likely, unnecessary but gratifying experiences, sharing with others the buying experience and, who know, a hot air balloon ride. 3. What is the downside for firms using Groupon? How can firms mitigate it? Some businesses have argued that the Groupon – offering deep discounts for daily deals, usually with a maximum number of coupons available – disproportionally benefits consumers more than businesses. These firms complain that discounts purchased on Groupon, for example, are great for attracting large crowds of customers who never materialize on the promise to become regular customers. This type of situations leaves the firm at a loss, having provided goods or service 75% below their retail price and without the returning customers to make up for it. To mitigate this, firms should work with Groupon and the like to find better ways to reinforce policies, such as making a deal available for first time customers only. Or by offering a discount that is only good if a required number of future purchases is pre-bought. Of course, these approaches would likely scare off a number of customers genuinely interested in assessing the quality of a product and service, not wanting further commitment. Psychologically, it might be hard for consumers to become regular customers and have to pay twice for a product or service they’ve already experienced for half the price. The best solution is for firms to offer such a high quality or differentiated product, service, and/or customer experience that costumers will want to come to come back. 4. What will be the long run effect of companies like Groupon? Groupon and similar companies will likely become the standard way coupons and discounts are offered to most consumers. Offering discounts through these firms will become an entry requirement for many new businesses, especially those offering more obscure or less common products and services. Nevertheless, any business in any market could potentially benefit from offering discounts through online social mass coupon firms, such as Groupon. Today, it has become a sound approach for firms that are not attracting enough buyers and traffic with their retail prices. If retailers don’t make the necessary adjustments to their pricing strategies now, they might have to come to Groupon or its competitors as a last resource to increase revenue through an attempt to increase consumer traffic and online buzz (added bonus advertising for using Groupon). It is unlikely most firms attempting to remain unchanged in regards to its pricing strategy will stay relevant for long; they must acknowledge the pricing threats of Groupon and the like. Customers, either by choice or by constant exposure to aggressive online discounts, are become smarter and savvier shoppers. The retail price is becoming dangerously easy to avoid for firms not willing to recognize new pricing strategies. How to cite Groupon Strategy, Papers

Marketing theory free essay sample

When Britvic introduces a product into a market they must ask themselves a number of questions, who is the product aimed at, what benefit will customers expect, how do they plan to position the product within the market? And what differential advantage will the product offer over their competitors. The product aspects of marketing deal with the specifications of the actual goods or services, plus how it relates to the end users needs and wants. As Britvic have a wide variety of drinks they target a variety of markets and are very successful at growing and bringing out new products and making them popular. Distribution refers to how the product gets to the buyer; for instance, point-of-sale assignment or retailing. This refers to the channel by which a product or service is sold (e. g. online vs. retail), which geographic region or industry, to which division (young adults, families, business citizens), etc. lso referring to how the surroundings in which the product is sold in can influence sales. Britvic is sold over a large geographical area and is sold too many different industries including pubs, restaurant, shops, supermarkets and many more. Price requires marketers to determine the amount of money that they will ask in exchange for their products. Of all the aspects of the marketing mix, price is the one, which creates sales revenue all the others are costs. The price of an item is clearly an important determinant of the value of sales made. In theory, price is really determined by the discovery of what customers perceive is the value of the item on sale. Researching consumers opinions about pricing is important to Britvic as it indicates how they value what they are looking for as well as what they want to pay. Britvic’s pricing policy will vary according to time and circumstances. When selling their products they should take the following into consideration: †¢ market based pricing †¢ cost based pricing †¢ new pricing strategies The one thing that Britvic wouldn’t want to do is over charge their customers as this could lose current or potential customers but they also need to have the right price to make a profit Promotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The cost associated with promotion or advertising goods and services often represents a sizeable proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organisation such as Britvic to develop and build up a succession of messages and can be extremely cost-effective. They would have to consider the ideas of why they should advertise and where they should advertise because if they can advertise in the right place then they can get vast amount of promotions for their products. 2. In marketing a service, explain the importance of: a. Process b. People c. Physical Environment Process – Service process is the way in which a service is delivered to the end customer. Companies like Britvic thrive on their quick and popular service and the reason they can do that is their confidence on their processes. The demand of these services is such that they have to deliver optimally without a loss in quality one example of this is they have some of their drinks in smaller glass bottles to preserve the vitamins and goodness in the bottles for longer. Thus the process of a service company in delivering its product is of utmost importance. It is also a critical component in the service blueprint, wherein before establishing the service, the company defines exactly what should be the process of the service product reaching the end customer People An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organisation wants to obtain a form of competitive advantage. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills and service knowledge to provide the service that consumers are paying for. Many British organisations such as Britvic aim to apply for the Investors in People accreditation, which tells consumers that staff is taken care of by the company and they are trained to certain standards. Physical Evidence Physical Evidence is the element of the service mix which allows the consumer again to make judgments on the organisation. If you walk into a restaurant your expectations are of a clean, friendly environment. On an aircraft if you travel first class you expect enough room to be able to lie down. Physical evidence is an essential ingredient of the service mix; consumers will make perceptions based on their sight of the service provision which will have an impact on the organisations perceptual plan of the service. . Explain how Britvic might adapt their marketing mix in response to three possible changes in marketing conditions. One reason could be product objectives. Each product is created with its own objective or purpose. The company has to make sure that they use their marketing mix to its full potential because each of their products would have to be created differently since each of them would have their own purpose. Another reason could be the competition. When the company has lots of ompetition they sometimes have to come up with some new original creative ideas that no other company has ever thought of. In order to do this they would have to go through their marketing mix and think outside the box so that they can create better products then think of a suitable prices so that they can make a good profit from. Then they would have to think of a different way to promote the products And lastly another reason would be new technology and changing fashions for example updating the style of packaging of the product. They could make the packaging better by giving the products a longer shelf life and overall make the products last longer which would make a better profit as there wouldn’t be as much waste and the drinks would be fresher. This would boost sales with if they had new packaging, but they would need to go through the whole mix again so that they could re-advertise the product so all the current customers and new target markets would know that they have the same great products but with a new improved more current packaging and the products are more fresh and last longer.