Ateneo Personal Essay Essay

Eleanor Hibbert once wrote â€Å" if it’s good, it’s wonderful. If it’s bad, it’s experience .† We must bear in mind that all our experiences in life, our accomplishments and mistakes, every single person we have encountered, and every medal and scar we have are the reasons why we are who we are today. Every experience, no matter how trivial or immense, is significant. For what I am now, I owe to these experiences. As early as the fifth grade, I have already developed my passion for service. I wanted to join our school’s student government very much, that’s why I started running as a class representative, a P.I.O., a secretary, and lastly as a vice-president. I obtained these positions not because I was popular but because of my willingness to serve. I am privileged to have served the school body for almost six years. This has taught me to do my duties and tasks well, to care for the welfare of others, and it taught me to be able to lead towards the greater good. Having been entrusted with responsibilities was one of the experiences that helped to define me as a person. Through the years, I discovered and enhanced my talents. I had the passion towards art, where they say I inherited from my father, who is very artistic. Doodling on every empty spot on whatever paper I could get on my hands. Sketching and Painting was my favorite. I cherished every moment of our art class, because it’s good to have a time for creativity. I discovered that I could play the piano, I was able to express myself in the music that I make and it was the outlet of my feelings. When I entered high school, I expected everything to be fun and carefree, but I was wrong. This was the time for me to work even harder in order to achieve what I want, because everyone else is trying their best. It really is hard to be an achiever when you are surrounded with many other achievers. I struggled with heavy work load, but through this, I developed the attitude to keep on trying and doing my best. High school for me was also a stage of self-discovery. It awoke me to excel academically, mature emotionally, and discover my identity as part of my family. But faith and having a healthy relationship with God was the strongest factor in defining myself. Trusting Him makes me confident with the problems I may face. And I will never get tired of worshipping Him. I have had the ups and downs in my life, and God was there to guide me and protect me. His plan has given me the best perspective. Life has not really been all that bad since it has also blessed me with moments of pure joy and happiness. Life taught me to hold on and to believe in something even though the odds are against me. Everyday had been the time of my life. This essay made me look back to those 14 years. I admit that I had a hard time defining myself as a person but I have once again put all my effort and did my best. Through this essay, I realized my purpose in this life. I now know my place in this world— to do my best in whatever role I play — as a friend, as a student, as a daughter and in all things, as a Christian. I was truthful and candid and I hope I made myself known. This is who I am. This is Stephanie Joy Cea, an aspiring Atenista.

Public bank management Essay

1.Introductions The model of the Five Competitive Forces was developed by Michael E. Porter that becomes an important tool for analysing an organizations industry structure instrategic processes. This model is applicable to the banking industry. Public Bank do compete with the other financial institution in Malaysia, however they also must cooperate with one another in many respects. There is an underlying problem which is the banks in Malaysia are so similar that there is essentially nothing one of them can do that the others cannot easily duplicate 2. Five Forces Analysis a. Threats of new entrants Malaysia has not put a barrier to entry for any financial institution manly banks in Malaysia, thus making it easy for any financial institution to penetrate into the industry. b. Bargaining power of suppliers a bank has three suppliers of its product, money: 1. Its depositors has no bargaining power whatever in reality. If they make time deposits the bank will set the price or interest rate it will pay. 2. The credit market the credit market as a source of supply of the raw material, money, is open to all at all time if they are qualified participants. The source of supply can be argued to be infinite. 3. The central bank The Central bank is effectively the resource of last resort. Apparently, at least for the moment, it will continue to supply liquidity to the banking system in virtually unlimited quantities at very reasonable cost. c. Bargaining power of buyers In the banking industry, customer have has very limited bargaining power. However the customers may option in changing to other banks that they think is offering a better offer than Public Bank. c. Threat of substitute product For the most part there is no real threat of substitute products in the banking industry. However there probably will be continues evolution of  products from paper to electronic in coming years. This is an area of potential competition for whomever banks that choose to use it in their services. d. Rivalry among competitors Generally all banks offer somewhat the same products and services to their customers, thus there is not much differentiation between Public Banks and the other competitors. This is making the competition much higher. Public Bank is actually ranked as the top banks earners in Malaysia in 2009 alongside with Maybank, Bumiputra Commerce, RHB Capital and Hong Leong Bank. 3. Table 1: Method used to identify opportunity and threat for Public Bank using external environment factors and industrial environment factors.(Factors under industry environment are derived from Porters Five Forces). 4. Opportunities 1. Economic growth Malaysia had definitely have been more economically stable and improving, thus financial institution such as Public Bank are needed to aid the overall development of the country. 2. Government policy Encouraging borrowings, loans, investment and consumption demand. 3. Awards and accolades Through recognition, Public Bank can project a positive image to their customers 4. Market share Public Bank has the highest market share for the private sector unit trust business, thus having a larger customer base. 5.  Low switching cost Nowadays it is easy for any customer to switch to other banks with just a click away, making the switching cost to be faster and cheaper, making it easy for the customers to switch to Public Bank. 5. Threats 1. Substitute product/service are available There is a potential competition to whomever banks that choose to upgrade their product and services to cater to their customers need. Maybank for example provide a customer friendly interface through their website www.maybank2u.com, and it became the most visited website in Malaysia. 2.Substitute performance Maybank, Bumiputra Commerce, RHB Capital and Hong Leong Bank are Public Bank competitors and each is recognized for their performance. This will make the competition even higher. 3. Customer switching cost Other than being an opportunity, switching cost can also be a threat for Public Bank as the customers can also easily switch to other financial institution. 4. Government legal& barriers There are no barriers that the government put for any legal financial institution to enter in the industry, making any new entrants penetrate into the market share easily. 5. Exit barriers High exit barriers in the industry are making the competition between Public Bank and the other competitors are even higher. 6. Conclusion Porter Five Forces Model are used to identify how the forces affect the attractiveness and profitability of Public Bank, and through this forces, the factors that influence these forces are used in the table 1, to identify Public Bank opportunities and threats. By identifying Public Banks industry environment, the company can improve and sustain their product and services for their customer, ultimately improving their performance.

AP American History Essay Essay

The British North American colonies grew considerably between 1600 and 1763. Imports and exports across the Atlantic caused a constant demand for labor in the colonies. The British colonies supplied raw goods as well as some manufactured goods for countries around the world especially in Europe. As the demand for cash crops and raw materials from the Americas grew, the demand for labor also increased. Trans-Atlantic interactions fostered continuity in the demand for labor in the British North American colonies from 1600 to 1763 but also fostered changes in the sources of labor. The harsh conditions for indentured servitude remained during this period. Indentured servants were treated basically as slaves and many, when freed, were unable to make a decent living for themselves with the small amount of land they were given. The government and society still viewed former indentured servants as inferior to the middle class colonial citizens. Indentured servants were the main source of labor, especially in the north, until Bacon’s rebellion. Nathanial Bacon in Jamestown led Bacon’s rebellion; this rebellion was brought about against the rule of Governor William Berkley. The immediate cause was Berkley’s refusal to retaliate against a number of recent Native American attacks on the frontier settlements, most of which were inhabited by former indentured servants. The long-term cause was the inequality in society between former indentured servants, the lower class, and the middle class. After this rebellion, landowners began to prefer permanent African slaves to indentured servants who only worked unpaid for about seven years. African slaves soon proved a better source for labor because they did not rebel like the indentured servants, and they proved far more healthy and durable than Native Americans. The south especially began to rely on this source of labor because of their cash crops and their plantation society. Farming of cash crops such as tobacco, indigo, rice, and cotton provided for a continued demand in labor throughout the colonies. The south especially had a strong, constant, demand for laborers because their cash crop, rice, required a lot of time and expertise. The southern colonies also required more labor because of their vast amount of land compared to the northern colonies. Slaves from West Africa proved to be very valuable to plantation owners in the south as these slaves had knowledge in the growth and care of rice. As demand for these crops rose in Europe, so did the demand for labor both forced and voluntary. British colonists began to shift from farming varied cash crops to monoculture crops such as tobacco and cotton, which impacted labor systems. This  shift created a plantation labor system, particularly in the southern colonies. The plantation labor system relied heavily on African slaves rather than indentured servants. In the north, family farm labor characterized the majority of the labor during this time; consequently the north did not require as much demand for alternate labor. The South, however had a predominantly plantation based society with a strong demand for cheap labor. The families in the South did not grow fast enough to be able to sustain such large amounts of land on their own. When the American colonies broke from England this difference in dependency of slaves between the north and south proved to be an issue in the creation of the government. The Northwest Land Ordinance created by the Articles of Confederation prohibited any slavery from the old western territories. This began the slow removal of slavery that eventually led to the civil war. The trans-Atlantic slave trade rose during the period of 1600-1763. This allowed for employers to acquire African slaves much easier. New England would trade rum with the Africans for slaves, which they would then use to trade with the southern Americans for sugar, which was then returned to New England. European imperial systems correspondingly shifted from mercantilism to capitalism. The private owners in colonial America began to have more control over the trade and profit of the community rather than the state.  America also began to become much more self-sufficient even though they were still under England’s control. England’s policy of salutary neglect allowed for the colonies to expand and become more independent from the British and the other colonies. This independence and increased demand by other countries for goods from the American colonies caused an increase demand for labor. Trans-Atlantic trade and other interactions caused an increase demand for labor in the British North American colonies from 1600-1763 but also created a change in the sources of labor. The demand for changes in labor sources were due to Bacon’s rebellion, the shift from farming varied cash crops to monoculture crops such as cotton and tobacco, the shift from mercantilism to capitalism in Europe, and the formation of a plantation system predominantly in the South. Slave labor in the south helped direct the nation to the Civil War. The Developments between 1600 and 1763 led to little slave labor in the North and slave dependency in the South. This labor development aided in sectional division and political issues that led to the Civil War.

Final Question 3 Essay Example | Topics and Well Written Essays - 250 words

Final Question 3 - Essay Example The main basis of setting the limits of the hazard chemicals and the corresponding related OSHA standards entail initiation of the extent of potential exposure and the lofty extent of dermal hazard. Potential exposure is set by approximating the risk of the chemical splash, important differences within the work practices amidst individuals, use of gloves against hand tools when an individual comes into contact with direct contact with the underlying chemical and utilization of the shared tools (Noll et al, 2014). Conversely, dermal exposure potential is mainly based on the frequency and period of the skin contact, size of the skin in contact with the prevailing chemical, concentration of the chemical and likelihood of retaining the chemical on the skin. TLV is applied in in the prediction of the quantity of chemicals all healthy personalities or worker can withstand without severe effects. STEL is utilized by employer is ensuring that no worker is exposed to an airborne concentration of the formaldehyde that exceeds two sections of the formaldehyde foe every million sections of air. NIOSH IDLH is the main source of the general industrial hygiene information for the employees, managers and corresponding occupational health professional in regard to the hazardous chemicals. These values are normally utilized by the EPA in the establishment of plans and response to the underlying uncontrolled releases of the hazardous chemicals (Noll et al, 2014). Moreover, aid in approximations of the exposure, offering of the vital information for assessing chemical release and taking appropriate protective

History of Religion Assignment Example | Topics and Well Written Essays - 1000 words

History of Religion - Assignment Example pecific mission generally their major focus was on advising people to mend their ways to achieve redemption through the Messiah they had been waiting for. They like Jesus himself were highly concerned about social justice and true devotion. 4). Jerusalem Temple for the second time was destroyed by the Roman legions at the time of Rehoboam the son of Solomon. Sadducees were one of the prominent groups of Jewish society who were bit orthodox and strictly followed the laws of the Torah. Essenes, the comparatively small sect of the Jewish society were located near the Dead Sea and to whom the ‘Dead Sea Scroll’ is attributed. Zealots were revolutionists who aggressively stood against the Roman dominance over Israel. 5). Orthodox Jews strictly adhere to the laws of Torah believing that all these books were written by God and handed over to Moses. Conservatives believe that only the ideas of the books were contributed by God but written by some chosen people; and therefore it contains some human elements too. According to the Reform Judaism, several races have involved in the process of compiling Torah. The movement retains the values and at the same time integrates with the modern culture. Reconstructionist Judaism approaches Jewish law as valuable aspect of Jewish culture rather than binding laws given by God. Hasidsm maintains that bonding with God is the ultimate goal of all studies of Torah; whereas Kabbalah is oriented on esoteric mystic doctrines. 6. The modern state of Israel was founded in 1948. Obviously it was for the first time Israel enjoyed freedom in its real sense. However, the state of Israel has been opposed by many Muslim states as they claim the ownership of some of the region. Jerusalem has been considered as a holy place by different religions including Judaism, Islam, and Christianity. 7). Mithra is the name of Zorastrian divinity. In many ways Mithra and Jesus are similar to each other. 1) Both said to have been visited by three wise men

Politics of Crime Research Paper Example | Topics and Well Written Essays - 250 words

Politics of Crime - Research Paper Example Of course, there is a general societal consensus that certain things are wrong and should be discouraged or criminalized, but for proponents of the Nanny State, the government should seize control of actions and issues where there is no consensus and unilaterally impose its view of morality on these issues. Why is this happening more and more these days? Many experts believe that in an increasingly complex world people are more willing to turn over power to the government in order to make their own lives easier. There is a sense the world can be and should be completely ordered and that government is the right body to do this. This is an unfortunate state of affairs as it tips the important balance between liberty and order far to the side of order. There are so many examples of this way of thinking that it is hard to know where to begin. One of the most shocking examples from recent years is the following headline: â€Å"Chicago Prohibits Foie Gras.† In 2006, Chicago city council voted to ban the delicious appetizer foie gras from the city’s restaurants. Proponents of the ban said the production of foie gras was inhumane. Opponents had a different view. "Government shouldnt be dictating what we eat," said the chef at one French restaurant. The Mayor too was unhappy. "We have children getting killed by gang leaders and dope dealers," he said. "We have real issues here in this city. And were dealing with foie gras? Lets get some priorities."1 These opponents are right. In an era where people expect to be coddled and protected from everything that could possibly harm, they are allowing things as personal as menu choice to be dictated by the government. If an individual does not like to eat foie gras no one will forc e them to eat it; but the Chicago city council went a step further by eliminating this choice completely and limiting the rights of those who do like foie gras. The Nanny State continues to expand, rolling

Care study Essay Example | Topics and Well Written Essays - 2750 words

Care study - Essay Example The Eskimos have a tradition wherein when a member of the family has reached an age where he or she is no longer an active participant of the tribe, the son or the closest member of the family is tasked to take him miles from the home and leave him in the freezing cold. Such practice, although barbaric, was accepted not only by the family member who has to do the form of euthanasia but also by elderly himself to be his fate. In simple logic, those who no longer contribute to the benefit of the family has lost his worth and must therefore accept the reality of death as promulgated by those close to him. The very thought of this scenario where an old person is left to die in frigid weather arouses disturbing thoughts in a humane perspective. The necessity to enforce that every person must be attributed with not only the quality of life but also the quality of death should be affixed to the elderly. The elderly psychiatry ward poses a professional challenge to the individuals assigned to it. But most importantly, it also yields the obligation to impart an emotional aspect to the care that they receive. Otherwise, rather than being treated as individuals, they may be deprived of the respect that is not entirely undue to them. There are a number of problems that arises in the nursing profession. One of such that persists is the ethical dilemmas that health professionals face in their career. Ethics, or in simple interpretation is the ability to distinguish between right and wrong is embraced in the moral conception of decision-making for individuals. Being professional is synonymous to doing the right thing that is good not only for the client but also for one’s own being. The Nursing & Midwifery Council’s promulgation of a Code of Conduct provides for set guidelines that must be met by nurses and midwives in their careers and their interaction with clients to ensure that they remain faithful to their oath. Rumbold (as

Marketing Course Evaluation Essay Example | Topics and Well Written Essays - 1500 words

Marketing Course Evaluation - Essay Example Likewise, I have learnt that firms should emulate appropriate brand names and pricing strategies in order to enhance the perception, motivation and product awareness that play a significant role in the consumer buying process. In its effort to attain a competitive edge, Lockheed Martin Aeronautics Company has embarked on merging with other companies in its effort to market products such as C-5, C-130 and C-141. In the same way, the company emulates horizontal market system for example at one time it replaced F-117 with F-22 based on the consumers feedback. Actions that I intend to take to stay current in my field includes, post graduate course in Project Management, Six Sigma Black Belt Certification (CSSBB) as well as masters degree. In order to improve the value of this course to the working adults, it is essential for lecturers to allocate adequate time for theory lessons as well as practical sessions. In addition, marketers should be trained on how to use web 2.0 as a major marke ting tool. Introduction In the contemporary world, firms have emulated a number of strategies to remain competitive and retain their customers. Through the guidance of the marketing managers, companies have emulated aspects such as proper branding, effective product positioning and pricing as well as promotional strategies. ... that I have gained Target Markets One of the skills that I have gained from the course is that for a company to be successful, it has to aim at particular customers. Being one of the major marketing strategy, target marketing in collaboration with the marketing mix that include price, product, promotion and price is essential especially when firms are aimed at expanding their customer base. Market positioning and segmentation The course has also exposed me to product positioning. This entails the process through which marketers create an image or the identity of their products on the minds of their consumers. One of the vital objectives of an effective product positioning is that it creates a strong customer awareness thus generating repeated purchases leading to high sales. On the other hand, market segmentation involves classification of the customers based on one or more characteristics (Kotler et al, 2010). In this way, firms are able to identify groups of customers with similar needs. Examples of market segmentation that this course introduced me into include geographic segmentation, demographic segmentation, psychographic segmentation, segmentation according to benefits and occasions as well as behavioral segmentation. Connecting with customers Building customer value, satisfaction, and loyalty Through the course, I was able to gain adequate skills on how to build customer value by enhancing a positive relationship especially by ensuring that organisations address the problems faced by the consumers in a timely manner. In addition, to ensure that the consumers are satisfied, it is imperative to provide quality products that meet their needs (Paliwoda et al, 2009). One of the major ways of enhancing customer loyalty is by creating a positive company-customer

Colony Collapse Disorders in the Honeybee Colonies Case Study

Colony Collapse Disorders in the Honeybee Colonies - Case Study Example Colony collapse disorders (CCD) is rather a new term in the field of environmental studies. Many environmentalists resolved to employ the phenomena of CCD in order to provide an explicit understanding to the continued deterioration in the number of honeybees in the bee colonies. The fall in the number of honeybees has led to low production of honey in the field of apiculture. Reduction in the population of bees has also posed a major setback to the field of crop production and agriculture in general. This is due to the fact that many plant varieties especially those that yield fruits majorly rely on the activities of the honeybees in achieving pollination. With much concern on this despair, scientists have embarked on research activities to configure the mess beyond CCD in the honeybee colonies. One of the most noted causes of CCD in the honeybee colonies is excessive use of pesticides in agriculture. The use of pesticides such antibiotics, miticides and neonicotinoid have direct or indirect impacts on the population of the honeybees in the bee colonies. Excessive use of pesticides such as the antibiotics, miticides and neonicotinoid pesticides is one of the factors that have led to the colony collapse disorders in the bee colonies. Antibiotics also known as antibacterial are drugs that used to kill bacteria that attack bodies of animals and human beings. Antibiotics also kill fungi and parasites that attack the bodies of animals and human. Miticides are a class of pesticides that used to kill mite. ... According to Johnson (2011), the increased level of use of antibiotics among beekeepers in controlling parasites and fungi that attack their bee colonies has led to tremendous effects of CCD in the honeybee colonies. Johnson (2011) in reference to the research findings of the USDA confirms that a single celled parasite called Nosem ceranae developed resistance to the antibiotics hence dire effects of the parasite on the bees continue to exist. The existence of these parasites in the honeybee colonies have resulted to unbearable stress on the bees in the affected colonies. The increased stress in the honeybees leads to reduction of immune system in the bees, leading to death of the affected bees (Johnson, 2011). According to Johnson (2011) in reference to the report of USDA, stress development in the honeybees disrupts the social system of the affected bees in their specific colonies. Johnson (2011) notes that chemical contents such as the imidacloprid found in the neonicotinoid pesti cides have substantial impacts on the colony collapse disorders in the honeybee colonies. Referring to the report s of USDA, Johnson (2011) connotes that the use of neonicotinoid as insecticide in plants leaves toxic residues on the plants, which in turn poisons young bees whenever they suck nectar and pollen grains from the infected plants. Even though the neonicotinoid has no direct impact on the health of honeybees, it adversely affects the bees upon excess consumption. The cumulative effects of excess the neonicotinoid chemicals leads to impairment in the navigational power and foraging ability of the honeybees (Johnson, 2011). In addition, Johnson (2011) reports that cumulated

The raise of Militarization of American Police Essay

The raise of Militarization of American Police - Essay Example On the other hand, community, policing is most concerned with addressing the issues that the community is most concerned about and other concerns that the members of the community may have. Ties are established by assigning officers to certain regions for extended periods so as to get to know the people and to have a better understanding of the geographical location. Call-in programs and town meetings are some of the ways in which rapport is created. This paper looks at the effectiveness of community policing and the reasons as to why it is being adopted by many police departments. Community policing has over the years been evolving and is being changed to become more adaptable with the different setting in which it is to be applied. Its origin is traced to the civil rights movements of the 1960s. It was meant to address the challenges and social upheavals that were made manifest during this time. Riots and racial injustices caused many tensions and led many to view the police service as a symbol of political authority causing wide public criticism. As a result, the president of the Unite States at the time set up a commission in 1967. The committee findings were that the police service ought to be made more sensitive and responsive a rapidly changing society (Kappeler & Gaine, 2012). Over the years, a few factors have led to its evolving in into the many forms of community policing that exist today.. The concern of most of the people was the unfair treatment of the minorities, especially black people by the police. The treatment led to the restructuring of th e police service into geographical regions and aspects such as foot patrol and line officers being introduced. In the 1970s, academic interest in this discipline increased as the many researchers began examining the role and the effectiveness of the traditional strategies that the police service

Journal Assignment Observation of a Presentation Essay

Journal Assignment Observation of a Presentation - Essay Example Each person hired had to have restaurant experience in the area of their work. For an example, a person in the kitchen had to have kitchen and food preparation experience. There were 14 new people hired for this day time shift. Each person wore a name tag, and they were told that they needed to wear the name tag every time they came to work. One lady started to laugh. She was rather young, and Mr. Marcus asked her what was funny. She said that she was glad she didn't have to wear them like the ones that retail stores have their employees do because they aren't able to be read! As the people introduced themselves, it was easy to see who were outgoing and who were quieter. The outgoing people smiled and made eye contact with others, while the more reserved were polite in their behavior, participated, but appeared uncomfortable in the group setting. Mr. Marcus smiled frequently, then said that he wanted all of them to understand correct table service because when working in an elite restaurant, it is necessary to know the procedures. He asked if anyone had ever known or practiced right-handed table service. One male, Jon, raised his hand and said that he did. Mr. Marcus asked him to come help him demonstrate. He had two of the other people sit as though they were guests in the restaurant. Jon set the table for right-handed service, then Mr. ... He had Jon take the dishes from the table from the right, then serve dessert to the guests. The others watched and Mr. Marcus asked if they had any questions. Geoff, another male, raised his hand and asked if left-handed service was ever used instead of the right handed method. Mr. Marcus explained how and when that could be used and the need to observe the guests as to which hand is used in eating. Mr. Marcus handled questions very well. Julia asked about having an accident and dropping something. Mr. Marcus' answer was pleasant. "Well, Julia, I hope that doesn't happen, but if it does, the staff will help clean it up and then we'll fire you!" He laughed, admitting he was teasing, but that the staff would help in a crisis. His personal mannerisms, his smile, eye contact, and interaction, made the trainees feel comfortable. His non-verbal behavior was impressive and quite natural. It was obvious that Mr. Marcus was quite comfortable with his position. His mannerisms showed a person who was comfortable with himself and what he was doing. He made eye contact with every person he was training and had a way of getting each to participate without causing him or her to feel uncomfortable. He did this by a slight motion of his hand. His dress was a shirt and tie with a business suit, the jacket was removed while he was training. The language that was notable was his use of "guest" instead of "customer" and "service" instead of "waiting on the table." This was definitely an upper class eating establishment! Also, when a question was asked, he repeated the question in the form of a statement, then proceeded to answer the question. This is an excellent technique for anyone in communications or the teaching field. The trainees were dressed in the type of uniforms

Marks ; Spencer Group Anaylsis Essay Example for Free

Marks ; Spencer Group Anaylsis Essay Marks and Spencer Group plc  © MarketLine Page 2 Marks and Spencer Group plc Company Overview COMPANY OVERVIEW Marks and Spencer Group (MS or the company) is one of the leading retailers of clothing, foods and homeware in the UK. The company operates in more than 40 countries across Europe, the Middle East, and Asia. It is headquar tered in London, the UK and employs 78,169 people. The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in the financial year ended April 2011 (FY2011)*, an increase of 2. 1% over FY2010. The operating profit of MS was ? 836. million (approximately $1,302. 5 million) in FY2011, a decrease of 1. 8% compared to FY2010. The net profit was ? 612 million (approximately $952. 5 million) in FY2011, an increase of 16. 3% over FY2010. *The financial year ended April 2, 2011 was a 52-week period whereas the financial year ended April 3, 2010 was a 53-week period. KEY FACTS Head Office Marks and Spencer Group plc Waterside House 35 Nor th Wharf Road London W2 1NW GBR Phone 44 20 7935 4422 Fax Web Address http://www. marksandspencer. com Revenue / turnover 9,740. 3 (GBP Mn) Financial Year End April Employees 78,169 London Ticker MKS Marks and Spencer Group plc  © MarketLine Page 3 Marks and Spencer Group plc Business Description BUSINESS DESCRIPTION MS is the holding company of the Marks Spencer Group of companies. The company is one of the UK’s leading retailers, with more than 21 million people visiting its stores each week. MS offers clothing and home products, as well as foods, sourced from about 2,000 suppliers globally. It operates through both wholly owned stores and franchise stores. As of FY2011, the company operated 703 stores in the UK. MS operates over 361 owned and franchised stores in over 42 territories. Though the company primarily repor ts its revenues in terms of geographic segments (UK and international), its operations can be categorized under two divisions: food and general merchandise. The food division concentrates on four main areas: fresh, natural, healthy food; special celebration products; authentic ready meal ranges; and exceptional ever yday food such as Oakham chicken. It operates a chain of 163 Simply Food owned stores and 202 Simply Food franchise stores in high streets, motorway service stations, railway stations and air por ts in the UK. The general merchandise division of the company is categorized into two segments: clothing and home. The clothing segment offers womens wear, mens wear, lingerie, childrens wear, and accessories and footwear. Some of the prominent brands offered by this segment include Autograph, Limited Collection, Collezione, Blue Harbour, Girls Boutique, Per Una, Ceriso, Adored, and Truly you. The home segment offers homeware and home accessories, kitchen and tableware, lighting, and furniture products. In addition to selling products through regular stores, the segment also offers catalogue services. M;S offers its products and services online as well as through flagship stores, high street stores, retail park stores, M;S outlets, Simply Food stores, and Simply Food franchised stores. Marks and Spencer Group plc  © MarketLine Page 4 Marks and Spencer Group plc History HISTORY M;S was founded in 1884 as a stall in an open market in Leeds, the UK. Then known as Marks Penny Bazaar, it was the household goods, haberdasher y, toy, and sheet-music business of Michael Marks, a Jewish refugee from Poland. In 1894, he took Thomas Spencer as a business par tner. In 1903, MS was registered as a private limited company. Although a clothing design depar tment had first been set up in 1938, it was not until after the Second World War that it became fully developed under a leading designer. In 1973, the company entered Canada, and bought Peoples Depar tment Stores and DAllairds, a national womens wear retailer, both of which it later sold. The company also had direct retailing investments in Canada. It tried to move south of the border in 1988 with the purchase of Brooks Brothers, but the US operation never took off as the company had hoped. Five franchised stores were closed down in Turkey in 1999 when the franchise par tner Turk Petrol Holding couldnt meet its bank obligations and collapsed. Later in the year, Marks and Spencer Canada, after 25 years of business, closed its 38 stores. The company sold its US clothing chain Brooks Brothers for $225 million in 2001. In 2003, MS announced the launch of its more credit card. Alongside this, Marks Spencer Financial Services was re-branded Marks Spencer Money. In 2004, MS completed the sale of Marks Spencer Retail Financial Services Holdings (MS Money) to HSBC. During the course of 2005, the company opened 31 Simply Food stores as well as closed the Lifestore project in the UK. MS expanded the Simply Food format with the acquisition of 28 stores on a leasehold basis from Iceland Foods for a consideration of ? 38 million (approximately $76. 3 million) in 2006. In the same year, MS sold Kings Super Markets, its only non-MS branded business to a US investor group consisting of Angelo, Gordon Co, MTN Capital Par tners and Mr. Bruce Weitz for $61. 5 million in cash. In 2007, MS and two of its long-term suppliers decided to star t the development of MS first eco-factories, pioneering innovative methods of sustainable manufacturing. One factor y in Sri Lanka would make lingerie and two factories in Nor th Wales would manufacture furniture upholster y. In the same year, the company launched its own branded LCD widescreen TVs. This range was in addition to the existing collection of Sony TVs currently available at M;S. Fur ther in the year, M;S launched school wear made from recycled plastic bottles. The companys first standalone home store in Lisburn, Nor thern Ireland was launched in 2007. In the same year, MS launched Big Tall, an exclusive online mens wear offering more than 450 items online ranging from tailoring to knitwear to casual shir ts and trousers. Also in 2007, M;S reduced saturated fat level as much as 82% in more than 500 companys products. The company reduced saturated fat levels in products including sandwiches, ready meals, crisps and savor y snacks. Marks and Spencer Group plc  © MarketLine Page 5 Marks and Spencer Group plc History Towards the end of 2007, a new Made to Measure shir ts ser vice was launched by MS, which allowed customers to design a tailor-made shir t within 21 days. The company added new products to its mens wear por tfolio in FY2008. M;S also launched climate control underwear featuring temperature regulating technology developed by NASA, expanded Collezione brand collection by introducing new shoes, wool and cashmere mix trousers. M;S reinvigorated its Blue Harbour brand to attract 35 to 44 year old men. Also in FY2008, the company star ted to freeze its ready meals for international sale and launched a range of 70 lines in eight countries. Later, the company also launched a 25-piece capsule collection called GD25 from Per Una. In 2008, M;S removed ar tificial colors and flavorings from its entire food and soft drinks range. In the same year, the company improved the quantity of space in a number of major out of towns and city centre stores through store extensions and also added 35 stores to its Simply Food por tfolio, including 25 BP franchised stores. A new flagship store in new Westfield Centre at White City, West London was opened at the end of 2008. To fur ther progress in Asian markets, the company opened its first 38,000 square feet store in Shanghai. M;S then entered into a par tnership with Scottish and Southern Energy, as per which M;S Energy would supply electricity and gas to domestic customers and reward them with M;S store vouchers for helping the environment by reducing their energy usage. M;S announced plans to close 10 of its Simply Food stores in 2009. The company opened Food to Go outlets in Hong Kong in the same year. Also in 2009, M;S announced plans to enter new categories in the Indian market, with the launch of luggage and footwear for men. The company introduced a Ramadan and Eid fashion collection in all the 13 stores throughout the Middle East in the UAE, Bahrain, Qatar, Kuwait and Oman in 2009. Fur ther in the year, M;S launched personalized greetings cards business online. The company also announced to open its second mainland store in Guangzhou, the capital of Guangdong province in southern China. M;S also launched a beer and cider range to complement its wine selection. M;S launched a revamped version of its website in 2009, the first major update since 2007. Fur thermore, in 2009, the company began to offer its online international deliver y service to 73 more countries as par t of a drive to grow annual sales of M;S Direct. The company began its offering within the homeware sector in 2009. M;S announced plans to open a store in Marbella, Spain by the end of 2009. In the same year, M;S and India-based Reliance Retail planned to open approximately 50 stores in India in the following five years under the banner of their joint venture company Marks ; Spencer Reliance India. Later in the year, the company outlined plans to cut costs by ? 50 million (about $150 million) by optimizing its supply chain and IT systems. M;S also announced plans to open a new store at the Swords Pavilions shopping center in the Dublin Airpor t, Ireland, in 2009. The company opened its new 22,000 square feet store at Morpeths Sanderson Arcade in the same year. MS decided to launch Simply Food in Western Europe. Fur ther in 2009, the company announced plans to sell a selected range of around 400 branded grocery and household products in all of its UK stores, following a 16-month trial in its stores in the Nor th East and South East of England. In 2010, MS launched a new Home Energy Service division that would offer customers a suite of energy efficiency products and services. Building on the success of MS Energy, which was servicing Marks and Spencer Group plc  © MarketLine Page 6 Marks and Spencer Group plc History over 125,000 homes, the company would roll-out a number of new products including bespoke energy advice, renewable energy solutions such as solar panels and heat pumps, and energy efficient heating solutions. In the same year, MS announced a program to be the worlds most sustainable retailer by 2015, launching 80 major new commitments under M;S eco and ethical plan, Plan A. The new commitments will mean that the company ensures all MS products become Plan A products with at least one sustainable quality. This program will also enable the companys 2,000 suppliers to adopt Plan A best practice and encourage M;S customers and employees to live greener lifestyles. Fur ther in 2010, M;S launched a new version of www. marksandspencer. om designed specifically for use on mobile phones and mobile devices—the first mobile site from a major UK high street retailer. Through this, the company aims to expand its multi-channel offering. During the same year, M;S launched England Football team suit exclusively in M;S stores, to take advantage of the football World cup spending. The company opened its new 1. 1 million square feet distribution centre at ProLogis Park Bradford in the UK in 2010. Thi s warehouse in the UK will serve all the companys stores with furniture products and store equipment. Later in 2010, MS launched a range of Solar PV and Solar Thermal water heating solutions. Fur thering the sustainability initiatives, the company also announced that it will use polyester made from recycled PET drinks bottles instead of virgin polymer to make more than 300 million clothing care labels a year. Towards the end of 2010, MS announced plans to move into rail distribution to reduce its carbon footprint. More than 300,000 general merchandise products per week would move from road to rail distribution. The company also opened a new shopping center in Vilnius, Lithuania at the end of year. In April 2011, MS opened its greenest ever store at Ecclesall Road in Sheffield. This is the first store of a number of new Sustainable Learning stores planned by the company as par t of its drive to become the worlds most sustainable major retailer by 2015. The company opened 20 stores in the UK during FY2011, including 17 Simply Foods. In international, M;S opened 49 new stores and closed 15 stores. During the same period, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo. The company, in July 2011, launched a new iPad application for its investors. This application will provide investors with latest M;S financial news. In the following month, M;S signed a traceability deal with Historic Futures. As per the deal, Historic Futures will provide the company full traceability on ever y single clothing and home product it sells. M;S is the first major retailer to commit to full traceability for non-food products. In September 2011, M;S opened a new store at Westfield, Stratford City with the latest ‘Only at Your M;S innovations and customer experiences. In the following month, MS launched its new French website, http://www. marksandspencer. fr/, marking its first international transactional website. Marks and Spencer Group plc  © MarketLine Page 7 Marks and Spencer Group plc History The company, in November 2011, opened its new flagship store at 100 Avenue des Champs-elysees in Paris. MS, in February 2012, launched its outlet format on its website at www. marksandspencer. com/outlet. MS Outlet will permanently offer a selection of more than 1,300 quality MS clothing products with up to 40% off the regular high street and online prices. In the same month, the company recalled four products (Crispy Prawn Wonton, Crispy Vegetable Balls, Prawn Baguette Toast, and Prawn Siu Mai Selection) from its Chinese range due to mistake in ‘use by’ date. In March 2012, the company, announced plans to launch a new website for its Irish customers, http://www. marksandspencer. ie/. In April 2012, MS announced that it will accept secondhand clothes at UK outlets in order to recycle into other fabrics or reuse overseas by the Oxfam charity in an aim to cut waste. Marks and Spencer Group plc  © MarketLine Page 8 Marks and Spencer Group plc Key Employees KEY EMPLOYEES Name Job Title Board Marc Bolland Chief Executive Officer Executive Board 975000 GBP Alan Stewar t Chief Finance Officer Executive Board 550000 GBP Kate Bostock Executive Director, General Merchandise Executive Board 590000 GBP John Dixon Executive Director, Food Executive Board 540000 GBP Steven Sharp Executive Director, Marketing Executive Board 655000 GBP Laura Wade-Gery Executive Director, Multi-channel E-commerce Executive Board Amanda Mellor Group Secretar y and Head of Corporate Governance Executive Board Rober t Swannell Chairman of the Board Non Executive Board Vindi Banga Director Non Executive Board Miranda Cur tis Director Non Executive Board Jeremy Darroch Director Non Executive Board 85000 GBP Steven Holliday Director Non Executive Board 85000 GBP Mar tha Lane Fox Director Non Executive Board 70000 GBP Jan du Plessis Director Non Executive Board 70000 GBP Clem Constantine Director, Proper ty Senior Management Tanith Dodge Director, Human Resources Senior Management Dominic Fr y Director, Communications and Investor Relations Senior Management Jan Heere Director, International Senior Management Nayna McIntosh Director, Store Marketing and Design Senior Management Steve Rowe Director, Retail Senior Management Darrell Stein Director, Information Technology and Logistics Senior Management Marks and Spencer Group plc  © MarketLine Compensation 450000 GBP Page 9 Marks and Spencer Group plc Key Employee Biographies KEY EMPLOYEE BIOGRAPHIES Marc Bolland Board: Executive Board Job Title: Chief Executive Officer Since: 2010 Mr. Bolland has been the Chief Executive Officer at Marks and Spencer Group since 2010. Previously, he was the Chief Executive Officer at Morrisons Supermarkets from 2006 to 2010. Prior to this, Mr. Bolland worked at Heineken for 20 years in various management roles, including Executive Board member and Chief Operating Officer, and responsibility for operations and business development in the US, France, Italy, Spain, the Caribbean and Latin America. He also ser ves as a Director at Manpower. Alan Stewart Board: Executive Board Job Title: Chief Finance Officer Since: 2010 Mr. Stewar t has been the Chief Finance Officer at Marks and Spencer Group since 2010. Before joining the company, he was the Chief Financial Officer at AWAS, an aircraft leasing company. Mr. Stewar t spent 10 years at HSBC Investment Bank before joining Thomas Cook in 1996, where he held various senior roles, including Chief Executive at Thomas Cook UK. Mr. Stewar t joined WH Smith in 2005 as Group Finance Director. He also ser ved as a Non Executive Director at Games Workshop Group. Kate Bostock Board: Executive Board Job Title: Executive Director, General Merchandise Ms. Bostock is the Executive Director of General Merchandise at Marks and Spencer Group. She joined the company in 2004. Previously, Ms. Bostock was the Product Director for Childrenswear at Next from 1994. She also ser ved as the Product Director for the George brand covering all areas of clothing and footwear at Asda. John Dixon Board: Executive Board Job Title: Executive Director, Food Marks and Spencer Group plc  © MarketLine Page 10 Marks and Spencer Group plc Key Employee Biographies Since: 2009 Mr. Dixon has been the Executive Director of Food at Marks and Spencer Group since 2009. He joined the company as a Store Management Trainee. Mr. Dixon held various senior roles at the company for over 20 years, including Executive Assistant, Chief Executive, and Director of Home and MS Direct. Steven Sharp Board: Executive Board Job Title: Executive Director, Marketing Mr. Sharp is the Executive Director of Marketing at Marks and Spencer Group. He joined the company in 2004. Previously, Mr. Shar p served as the Marketing Director at Asda, the Bur ton Group, Booker, and Arcadia Group. Currently, he is a Non Executive Director at Adnams. Laura Wade-Gery Board: Executive Board Job Title: Executive Director, Multi-channel E-commerce Since: 2011 Ms. Wade-Gery has been the Executive Director of Multi-channel E-commerce at Marks and Spencer Group since 2011. Prior to this, she worked at Tesco and held a variety of senior roles, including Chief Executive Officer of Tesco. com and Tesco Direct. Ms. Wade-Ger y also held various roles at Gemini Consulting and Kleinwor t Benson. She has also been a Non Executive Director at Trinity Mirror since 2006. Amanda Mellor Board: Executive Board Job Title: Group Secretary and Head of Corporate Governance Ms. Mellor is the Group Secretary and Head of Cor porate Governance at Marks and Spencer Group. She joined the company in 2004 as the Head of Investor Relations. Ms. Mellor spent her early career in investment management at James Capel before becoming a Director within its Corporate Finance team. She then served at Rober t Fleming, Investment Banking prior to joining The Bur ton Group as the Director of Cor porate Relations and Investor Relations. Robert Swannell Board: Non Executive Board Job Title: Chairman of the Board Marks and Spencer Group plc  © MarketLine Page 11 Marks and Spencer Group plc Key Employee Biographies Since: 2011 Mr. Swannell has been the Chairman of the Board at Marks and Spencer Group since 2011. He joined the company in 2010 as a Non Executive Director. Prior to this, Mr. Swannell was a Senior Independent Director at The British Land Company, and 3i Group. He spent over 30 years in investment banking at Schroders/Citigroup. Mr. Swannell was previously the Vice Chairman at Citi Europe and Co-Chairman at Citis European Investment Bank. Vindi Banga Board: Non Executive Board Job Title: Director Since: 2011 Mr. Banga has been a Director at Marks and Spencer Group since 2011. He is currently a Par tner at Clayton Dubilier ; Rice, a private equity investment firm. Prior to this, Mr. Banga spent 33 years at Unilever, where he held several senior positions, including President of the Global Foods, Home and Personal Care businesses, and was a member of the Unilever Executive Board. He also serves as a Non Executive Director at Thomson Reuters and Maruti Suzuki India. Miranda Curtis Board: Non Executive Board Job Title: Director Since: 2012 Ms. Cur tis has been a Director at Marks and Spencer Group since February 2012. She is currently the Chairman at Waterstones, and a Non Executive Director at Liber ty Global. Ms. Cur tis has also been a Non Executive Director at National Express Group since 2008. She also serves on the Boards of the Institute for Government, the Royal Shakespeare Company, and Camfed (the leading African girls’ education charity). Jeremy Darroch Board: Non Executive Board Job Title: Director Since: 2006 Mr. Darroch has been a Director at Marks and Spencer Group since 2006. He also ser ves as the Chief Executive at British Sky Broadcasting. Previously, Mr. Darroch ser ved as the Chief Financial Officer at British Sky Broadcasting. Prior to this, he was the Group Finance Director and Retail Finance Director at Dixons Retail (formerly DSG International). Marks and Spencer Group plc MarketLine Page 12 Marks and Spencer Group plc Key Employee Biographies Steven Holliday Board: Non Executive Board Job Title: Director Since: 2004 Mr. Holliday has been a Director at Marks and Spencer Group since 2004. He is the Group Chief Executive Officer at National Grid. Prior to that, Mr. Holliday served as the Director of UK and Europe and was responsible for the UK Elect ricity and Gas businesses. He is also the Chairman of the UK Business Council for Sustainable Energy. Prior to joining National Grid, Mr. Holliday was an Executive Director at British Borneo Oil and Gas. Previously, he held several senior positions at Exxon Group. Martha Lane Fox Board: Non Executive Board Job Title: Director Since: 2007 Ms. Fox has been a Director at Marks and Spencer Group since 2007. She is the UK’s Digital Champion, the Chairman of Race Online 2012, and a Non Executive Director at Channel 4 Television. Ms. Fox is founder and Chairman of Lucky Voice, and of her own grant-giving foundation, Antigone. She was co-founder of lastminute. com. Jan du Plessis Board: Non Executive Board Job Title: Director Since: 2008 Mr. du Plessis has been a Director at Marks and Spencer Group since 2008. He is the Chairman at Rio Tinto. Previously, Mr. du Plessis was the Chairman at British American Tobacco and a Non Executive Director at Lloyds Banking Group. He also ser ved as the Chairman at RHM from 2005 to 2007. Mr. du Plessis was previously the Group Finance Director at Richemont, a position he held until 2004. Clem Constantine Board: Senior Management Job Title: Director, Proper ty Mr. Constantine is the Director, Proper ty at Marks and Spencer Group. He joined the company in 2006. Mr. Constantine was appointed the Group Proper ty and Retail Planning Director at Arcadia Group in 1999. He was appointed to his first finance directorship in 1993, for the IS brand at the Marks and Spencer Group plc  © MarketLine Page 13 Marks and Spencer Group plc Key Employee Biographies Bur ton Group, and moved through several other finance directorships with variable responsibilities including systems and retail. Mr. Constantine was trained as a Char tered Accountant at Stoy Hayward, and joined Debenhams in 1989 as a Financial Analyst. Tanith Dodge Board: Senior Management Job Title: Director, Human Resources Since: 2008 Ms. Dodge has been the Director, Human Resources at Marks and Spencer Group since 2008. She was formerly the Group Human Resources Director at WH Smith since 2003. At WH Smith, Ms. Dodge was also responsible for Public Relations, Communications and Post Office Operations. Prior to this, she was the Senior Vice President Human Resources for Europe, Middle East and Africa (EMEA) at InterContinental Hotels Group. Ms. Dodge also served as the Human Resources Director at Diageos two business divisions. She was also the International Human Resources Manager at Prudential Corporation. Dominic Fry Board: Senior Management Job Title: Director, Communications and Investor Relations Mr. Fry is the Director, Communications and Investor Relations at Marks and Spencer Group. He joined the company in 2009. Prior to this, Mr. Fr y ser ved at Tulchan Communications. In 1996, he was appointed the Communications Director at J Sainsbury and ser ved in the same role at ScottishPower from 2000 to 2005. In 1989, Mr. Fr y became the Communications Director at ATT in the UK before moving from there to head up communications at the Channel Tunnel in the mid 90s. He star ted his career in 1982 working in PR consultancy at Traverse-Healy ; Regester and then Charles Barker. Jan Heere Board: Senior Management Job Title: Director, International Since: 2011 Mr. Heere has been the Director, International at Marks and Spencer Group since 2011. He joined Inditex in 2002 where he held a several international roles, most recently as General Manager for Inditex Russia. During 2000–02, Mr. Heere held various senior management roles at Zara, Groupo Inmobiliario Lupaco, and Charanga. He began his career at Manpower in Spain in 1997. Nayna McIntosh Marks and Spencer Group plc  © MarketLine Page 14 Marks and Spencer Group plc Key Employee Biographies Board: Senior Management Job Title: Director, Store Marketing and Design Ms. McIntosh is the Director, Store Marketing and Design at Marks and Spencer Group. She joined the company in 2005. Prior to this, Ms. McIntosh was par t of the Management Team that set up the per una brand in 2001. Previously, she served as the Sales and Marketing Director for the George brand at Asda stores. Before joining George, Ms. McIntosh was at Next for four years as a Divisional Executive for the South of England. Steve Rowe Board: Senior Management Job Title: Director, Retail Since: 2008 Mr. Rowe has been the Director, Retail at Marks and Spencer Group since 2008. He joined the company in 1989 and held a variety of positions in store management, having previously worked at Topshop as a Store Manager. Mr. Rowe joined Head Office in 1992 as a Merchandiser for Menswear. In 1998, he was promoted to Category Manager in the Furniture Depar tment. In 2001, Mr. Rowe led the team developing the Home Growth Strategy, working with McKinsey Consultants, and became Head of Home categories in 2003. He was promoted to the Director of Home a year later in 2004. From 2004 to 2008, Mr. Rowe was also responsible for Beauty and New Business Development. Darrell Stein Board: Senior Management Job Title: Director, Information Technology and Logistics Mr. Stein is the Director, Information Technology and Logistics at Marks and Spencer Group. He has been working in IT for 17 years star ting his career at the company in 1990. Mr. Stein re-joined M;S in 2006 as the IT Director. From 2001 to 2006, he ser ved at Vodafone, becoming IT Director for Vodafone UK in 2004. Prior to this, Mr. Stein was Vodafones UK Network Director and Global IT Strategy and Architecture Director. From 1996 to 2001, he ser ved at Ernst Young, leading a number of major IT and Change Programmes in the financial services, retail and utility sectors. In 1994, Mr. Stein joined Mars as a Project Manager. Marks and Spencer Group plc  © MarketLine Page 15 Marks and Spencer Group plc Major Products and Services MAJOR PRODUCTS AND SERVICES MS is one of the leading retailers of clothing, foods and homeware in the UK. The companys key products and services include the following: Products: Womens wear Mens wear Lingerie Childrens wear Footwear Food and grocery items Homeware and home accessories Kitchen and tableware Lighting Furniture products Services: Credit cards Car, home, travel, and pet insurance Personal loans Brands: Autograph Limited Collection Collezione Blue Harbour Girls Boutique Per Una Ceriso Adored Truly you Marks and Spencer Group plc  © MarketLine Page 16 Marks and Spencer Group plc Revenue Analysis REVENUE ANALYSIS Overview The company recorded revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in FY2011, an increase of 2. 1% over FY2010. For FY2011, the UK, the companys largest geographic market, accounted for 89. 7% of the total revenues. M;S generates revenues through two business divisions: food (51. 5%% of the total revenues in FY2011), and general merchandise (48. 5%). Revenues by division* During FY2011, the food division recorded revenues of ? 4,499. 4 million (approximately $7,002. 4 million), an increase of 1. 9% over FY2010. The general merchandise division recorded revenues of ? 4,233. 6 million (approximately $6,588. 8 million) in FY2011, an increase of 2% over FY2010. *The revenue breakdown by division is only for the revenues from the UK market. Revenues by geography The UK, M;S largest geographical market, accounted for 89. % of the total revenues in FY2011. Revenues from the UK reached ? 8,733 million (approximately $13,591. 2 million) in FY2011, an increase of 1. 9% over FY2010. International operations accounted for 10. 3% of the total revenues in FY2011. Revenues from international operations reached ? 1,007. 3 million (approximately $1,567. 7 million) in FY2011, an increase of 4% over FY2010. Marks and Spencer Group plc  © MarketLine Page 17 Marks and Spencer Group plc SWOT Analysis SWOT ANALYSIS MS is one of the leading retailers of clothing, foods and homeware in the UK. The company has expanded its food product offering significantly in the recent years. New products launches, focus on expanding healthy products, promotions, and competitive prices are all helping the company attract customers in a highly competitive market. However, surge in shoplifting could negatively impact the cost structure for MS. Strengths Weaknesses Expanding food offering Strong market position in the clothing segment Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market MS etched a highly effective CSR strategy MS legacy stores and systems are a ompetitive disadvantage Declining general merchandise division sales due to inadequate stocking Opportunities Threats Online channel continues to boom and will enable MS to boost revenues Focus on China and India can lead to expansion in two of the fastest growing markets Surge in shoplifting losses costs the retailers and customers Weak consumer spending in the UK Rising labor cost in the UK Strengths Expanded food offering The company has expanded its food product offering significantly in the recent years. In 2009, MS consistently highlighted it is cheaper than Waitrose on a basket of 1,200 items by about 2%. The company, in 2009, decided to invest in its margins in order to provide its customers better value. As a result of this, MS saw improved perceptions of value by its customers. The company, in FY2011, launched around 1,800 new products in food and positioned itself as the UK’s leading high quality food retailer. The key product launches of the company include Taste Italia, and Made Without Wheat range of gluten-free bread and cakes, With the success of Made Without Wheat product range, the company launched gluten-free sandwiches, sausages, stuffing, and crisp bakes. As of FY2011, the company offered 125 gluten-free products. MS also became the UK’s second largest favorite health food brand with the launch of its Simply Fuller Longer range which encourages customers to manage their weight with a menu plan. The gross margin of food division increased by 20 basis points to Marks and Spencer Group plc  © MarketLine Page 18 Marks and Spencer Group plc SWOT Analysis 30. 8% in FY2011. This was mainly driven by better management of promotions and waste. Fur ther, in the four th quar ter of FY2012 ended March 2012, MS launched 500 new products in the food division. The sales in this quar ter increased by 3. 1%, The company’s promotions such as roast dinner for ? 5 ($7. 8), Dine In, etc offered its customers with great value solutions for special occasions. MS’ food division has been performing well in a ver y competitive market and against tough competitors. By launching innovative products and with an expanded food offering, the company has been able to attract the customers in a highly competitive market. Strong market position in the clothing segment MS has a strong market position in the clothing segment. With more than one in 10 clothing items bought from MS, the company ranks amongst the three largest clothing retailers in the UK. According to a repor t released by Verdict (Datamonitors retail arm) in May 2012, M;S is known for its product quality. The company was ranked first with a score of 49 for its product quality above the market average of 23. According to another repor t released by Verdict in April 2012, M;S enjoys highest conversion rate of 50. 7% and is very successful in conver ting visitors to loyal main users through its varied product offer, in-store service and garment quality. This indicates that M;S is a trustwor thy brand, which all main users would return to knowing that the quality, fit, and ser vice are reliable and consistent. The retailer has recognized that its core market of predominantly mature customers has been especially hard hit by rising core costs of living, falling interest on savings and worse prospects for pensions, and in reaction has lowered its entr y prices to compete more effectively with high street/value operators and supermarkets, helping to maintain the loyalty of its main users and prevent them from shopping elsewhere. Verdict, in its repor t in March 2012, ranked, M;S seventh in the global depar tment store market with a share of 3. 2%. This market leadership enabled M;S to excel throughout the economic downturn, while other mid-market retailers are pressured from the ever expanding value players. Leading market position indicates access to a large customer base and also popularity of M;S offering in the clothing segment. Going forward, this market position would enable the company to drive revenues as consumer spending recovers. Geographical expansion to increase the addressable market and reduce vulnerability to mature UK market With a por tfolio of over 361 owned and franchised stores in 42 territories MS continues to grow its international business. This mix of ownership models and countries enabled the company to perform well in FY2011, even when individual markets were weak. Fur ther, during FY2011, the company entered the Egyptian market with a 28,000 square feet store in the Dandy Mega Mall in Cairo. MS international business grew by 4% in FY2011 despite tough economic situation. As an established retailer in a mature market, it is going to be hard for M;S to continually deliver significant increases in UK sales. However, in the long run, its international business offers an oppor tunity for high growth. By generating much higher volumes, it can deliver margin benefits with suppliers. With production costs rising, this will be an advantage in the UK. International expansion will enable the company to access multiple sales points for most of the product ranges. This is especially relevant for clothing and homewares segments. Also, through expansion in the international markets M;S can reduce Marks and Spencer Group plc  © MarketLine Page 19 Marks and Spencer Group plc SWOT Analysis vulnerability to mature UK market. The company can also par ticipate effectively in some of highest growing markets such as China and India. All these factors would enable the company to reduce the overall business risk and facilitate increased revenues. M;S etched a highly effective CSR strategy M;S has to its credit an effective corporate social responsibility (CSR) strategy. CSR has been gaining prominence not just among the stake holders and governments but the consumers as well. The company has the highest propor tion of consumers believing it to be a responsible retailer and this can largely be attributed to the success of its Plan A, a ? 200 million (approximately $320. 3 million) 100-point plan launched in 2007 with five areas of focus: climate change, fair par tnership, health, sustainable raw materials, and waste. In FY2011, the company included two more areas in its Plan A: involving customers, and making Plan A how we do business. In the last few years, initiatives launched under the Plan A banner include launching the companys first eco-store, encouraging suppliers to set-up eco-factories, removing hydrogenated fats from its ready meals, increasing the propor tion of organic food, reducing the salt content of its produce, cer tifying a larger percentage of its fish as originating from sustainable populations, and beginning to sell recycling and composting bins. It is the high profile presence of Plan A in adver tising campaigns, product labeling and store signage that gives MS one of the best consumer perceptions of a retailer for social responsibility. The campaign works not just as a direct to consumer channel, but also because of the positive coverage it creates. Perhaps more impor tantly, it has publicized all of these initiatives extensively. In 2008, MS launched a TV adver tising campaign focusing on its ethical, environmental and health-conscious credentials, highlighting that it only uses free range eggs and that its products are now free from ar tificial colors and flavorings. Other, more innovative, ideas have included a joint venture with Oxfam to promote the recycling of old clothes. In addition, more controversially, the retailer introduced a 5p charge for carrier bags at all of its food depar tments in 2008. Though many consumers resented this charge, it has undoubtedly boosted MS reputation as an ethical retailer. Overall, sculpting its CSR strategy into such a high publicity campaign, divided into such clear action points and highly visible benefits, has seen the company move to the forefront of responsible retailing. In FY2011, the company launched Indigo Green, its first range of clothing made using more sustainable fabrics. In April 2012, the company announced to accept secondhand clothes at all the UK outlets except Simply Food stores, to recycle them into other fabrics or to reuse them in order to cut waste. Plan A has seen CSR become core to M;S principles in the eyes of the consumer and it has reaped the benefits of this, gaining shoppers as a result and repor tedly saving more than ? 70 million (approximately $108. 9 million) in efficiencies gained in FY2011 compared with ? 50 million (approximately $77. 8 million) in FY2010. In addition, MS improved energy efficiency in its stores by 23% and warehouses by 24% in FY2011 compared to FY2007. It also improved the fuel efficiency of its deliver y fleets by 20% and total carbon emissions have been reduced by 13%. The company now recycles 94% of all the waste it generates from its stores, offices and warehouses. The total waste is down by more than a third. MS also met its sustainable standards by sourcing 90% of wild fish in FY2011 (62% in FY2010) and 76% of wood in FY2011 (72% in FY2010). Marks and Spencer Group plc  © MarketLine Page 20 Marks and Spencer Group plc SWOT Analysis By actively promoting a products greener attributes (for example fewer, more recognizable and natural ingredients), retailers such as M;S have positioned products as improving ones personal environment while benefiting the global environment too. Many of their successes have come from emphasizing the former rather than the latter, especially as consumers often associate ethics with a sense of wellbeing. In terms of the issues that concern consumers, the sustainability of natural resources is a major fear, as are climate change and the fairness of sourcing arrangements. Consumers are also attracted to products with health benefits and there is a clear trend that consumers can be persuaded to par t with more money in return for products with a positive impact, not just to them personally, but also to wider society. Indeed, differentiating between products becomes harder and harder to achieve, Verdict expects consumers to turn to auxiliary considerations such as ethicality and sustainability to guide their choices. Consumers are no longer purely satisfied with how a product looks and functions; they want assurances over aspects such as nvironmental impact, hygiene, safety, and fairness. In light of the above mentioned trends where the customer choices are increasingly guided by the sustainability issues, MS will benefit due to its reputation of being a responsible retailer. Weaknesses MS legacy stores and systems are a competitive disadvantage MS suffers some competitive disadvantages compared to Tesco, which has been able to drive earnings before int erest and tax (EBIT) growth even in the mature UK market. Tesco benefits from supplier power and state-of-the-ar t IT, supply chain and systems compared with MS legacy systems. The supermarket retailer has been able to break up the demand cur ve with metro, express and big box store formats out of town and on the high street. Moreover, Tesco stores have been carefully designed with consistent store layouts in order to facilitate store navigation. Extra back room store space has also been allocated to allow for smooth execution of its picking and distribution model. Tesco sells both own label and branded goods (food and non-food) in a bid to drive up footfall and sales conversion. MS legacy stores are inconsistent in terms of layout. Store size tends to dictate product availability, while a lack of back room store space does not facilitate the same style supermarket pick and delivery model. The legacy systems and stores of MS are constraining effective servicing of customer demands on a consistent basis. This is placing the company at a clear competitive disadvantage compared to a formidable opponent, Tesco. Declining general merchandise division sales due to inadequate stocking The company’s general merchandise division sales declined in recent times, MS’ general merchandise division sales decreased by 2. % in the four th quar ter of FY2012 ended March 2012. This was mainly due to shor tage of stock in its stores, Due to this, the company was also not able to meet customer demand for 300,000 knitwear garments under the MS Woman label. It only sold Marks and Spencer Group plc  © MarketLine Page 21 Marks and Spencer Group plc SWOT Analysis 100,000 knitwear garments during this period. Fur ther, in times of high demand, inadequate stock could hamper the sales of the division and result in loss of sales to competitors. This not only affects the revenues of the company but could also result in shift of customers to its competitors. Opportunities Online channel continues to boom and will enable MS to boost revenues Online retail sales in the UK have grown significantly over a period of time. According to Office for National Statistics, non-seasonally adjusted average weekly value for internet retail sales in the UK was ? 414 million (approximately $644. 3 million) in Februar y 2010, this increased to ? 573. 6 million (approximately $892. 7 million) in February 2012, representing an increase of 18%. Internet sales accounted for only 8% of the total retail sales (excluding fuel) in Februar y 2010. This figure increased to 10. 7% in February 2012. The growing desire for convenience is seeing shoppers buy more online, especially in the category of food and grocery. Consumers have also become savvier, using the internet more to get the best deal they can. Voucher codes, and cashback sites have been instrumental in this. Additionally, improved deliver y and fulfillment options have been encouraging consumers to shop more online. The company operates in the internet channel through MS Direct where the products are offered through website and newly launched Shop Your Way facility, a new ordering service that has been rolled-out in 444 stores (including 151 in Simply Foods stores) during FY2011, allowing customers to place orders either in stores, online or over the phone, for deliver y to either a nominated address or free of charge to their nearest store. MS Direct’s sales increased from ? 413 million (approximately $642. 8 million) in FY2010 to ? 543 million (approximately $845. million) in FY2011, an increase of 31. 5%. Fur ther, in the first half of FY2012, MS Direct’s sales increased by 11. 7% with more than three million visitors per week. Thus, by leveraging its online presence, MS can cater to the requirements of a growing number of customers who are looking for convenience and better deals over the internet. Focus on China and India can lead to expansion in two of the fastest growing mar kets China and India are two economies which are recording highest growth rates which, in turn, are expected to aid the retail market growth in these two countries. Asias retail sales are estimated to increase with China driving the growth. According to the preliminary estimation, the gross domestic product (GDP) of China was CNY47,156. 4 billion ($7,285. 7 billion) in 2011, a year-on-year increase of 9. 2% at comparable prices. The fast pace economic development in China coupled with the rise of the middle class income group and their increasing disposable income have fur ther pushed up the demand for several consumer goods. According to National Bureau of Statistics of China, the total retail sales reached CNY18,391. 9 billion (approximately $2,841. billion) in 2011, representing a year-on-year nominal growth rate of 17. 1%. Fur ther, according to industr y estimates, the countr ys total retail sales are expected to increase from approximately CNY20 trillion ($3 trillion) in 2012 to approximately CNY26 trillion ($4 trillion) in 2016, representing an increase of about 30%. Strong Marks and Spencer Group plc  © MarketLine Page 22 Marks and Spe ncer Group plc SWOT Analysis underlying economic trends, population growth and the increasing wealth of individuals are key factors that contribute to the retail market expansion in China. The retail industry in India is large owing to a large population and is set to grow as several factors contribute. According to the industry sources, the retail sales in India are forecast to grow from around $411 billion in 2011 to $804 billion by 2015. The key factors behind the forecast growth include strong underlying economic growth, population expansion, increasing wealth of individuals and the rapid construction of organized retail infrastructure. Also, as middle and upper class consumer base expands, there will also be oppor tunities in Indias second and third-tier cities. The greater availability of personal credit and a growing vehicle population are to improve mobility which will also contribute to a trend towards retail sales growth. M;S is strengthening presence in India and China as par t of its geographic expansion and for some time to come, these countries would be the key contributors to the companys international expansion strategies. The company in with par tnership with Reliance Retail, an established retailer in India, can tap into this lucrative market while expansion in China also continues. Indian and Chinese markets would provide a huge potential revenue base for MS. Threats Surge in shoplifting losses costs the retailers and customers The UK retailers are exposed to increased costs of shoplifting. Shoplifting has assumed massive propor tions in recent times. According to industry estimates, retail crime costed UK stores ? 1. 4 billion ($2. 2 billion) in 2011. There are about two million thefts per year, which concludes to an average of more than one per minute. According to another industr y repor t, the thefts across the UK stores increased from ? 4. 2 million ($6. 5 million) in 2009 to ? 5. 1 million ($7. 9 million) in 2011, an increase of 20%. Long-term trends also show the figure is likely to continue rising. As a result, retailers have been increasing their surveillance spend. This is increasing the costs for retailers as well as for the end consumers. The shoplifting losses are adding to the costs for the retailers and the customers have also been bearing the brunt. The surge in shoplifting could negatively impact the cost structure for MS as well. Weak consumer spending in the UK The UK market is suffering from weak consumer spending. The European debt crisis added more downward pressure to the growth prospects of the UK. According to Eurostat, the UK economy grew by 0. 7% in 2011 and is expected to grow by 0. 5% in 2012. In addition, the UK has witnessed high unemployment rate. According to the Office of National Statistics, the unemployment rate for the three months period November 2011 to January 2012 was 8. 4% with 2. 67 million unemployed people in the UK. Increasing unemployment rate is expected to fur ther put pressure on the economy of the UK. High inflation, led by the increase in VAT to 20% and public spending cuts reduced disposable Marks and Spencer Group plc MarketLine Page 23 Marks and Spencer Group plc SWOT Analysis income, leading to a fall in consumer spending on discretionary items. Consumers have been cautious with their spending especially due to soaring petrol prices, tax increases and uncer tainty over jobs. The UK is the key market for MS. In FY2011, the UK accounted for 89. 7% of MS total revenues. Thus, the sluggish consumer spending and high unemployment rate in the UK could affect most of the non-food retailers and lead to reduced sales volume or shrinking profit margins. Rising labor cost in the UK Labor costs are rising in the UK. In recent times, tight labor markets, increased over time, government mandated increases in minimum wages and a higher propor tion of full-time employees are resulting in an increase in labor costs, which could materially impact the companys results of operation. The National Minimum Wage (NMW) Regulations came into force in 1999 and since then the NMW rates have been increased annually. The national minimum wage increased from ? 5. 93 per hour ($9. 23 per hour) in October 2010 to ? 6. 08 per hour ($9. 46 per hour) in October 2011. Fur ther, the national minimum wage is expected to increase to ? 6. 19 per hour (9. 63 per hour) from October 2012. In FY2011, MS employed 78,169 people. Increasing labor costs can adversely affect the companys operating costs as its wage bills would escalate. This, in turn, could impact its margins adversely. Marks and Spencer Group plc  © MarketLine Page 24 Marks and Spencer Group plc Top Competitors TOP COMPETITORS The following companies are the major competitors of Marks and Spencer Group plc ASDA Group Limited Debenhams plc H ; M Hennes ; Mauritz AB J Sainsbury plc NEXT plc Selfridges plc Tesco PLC Gap, Inc. , The French Connection Group Plc House of Fraser Group Plc John Lewis Par tnership plc Arcadia Group Limited Home Retail Group Plc Marks and Spencer Group plc  © MarketLine Page 25 Marks and Spencer Group plc Company View COMPANY VIEW A statement by Rober t Swannell, the Chairman of the Board at Marks and Spencer Group, is given below. The statement has been taken from the company’s Annual Repor t for FY2011. I feel ver y privileged to be Chairman of this unique company and at such an exciting time in our evolution. Since joining Marks ; Spencer in October and assuming the role of Chairman in Januar y, I have spent much of my time getting to know the business better – meeting our employees, shareholders, customers and suppliers. I first became deeply involved with M;S during the unsolicited takeover attempt in 2004, when I led the advisory team that helped put the M;S case to its shareholders. It was then I learned first hand about this unique company: about the extraordinarily strong relationship it has with its many stakeholders and about its very special ethos. This ethos is a reflection of the high standards our customers expect from M;S – trusting us not only to deliver great value, great quality products but also to do the right thing – socially, environmentally and ethically. We know that putting Plan A at the hear t of how we do business is not just the right thing to do; it is also fundamental to our long-term success. Performance In a challenging marketplace M;S has continued to grow, with underlying profits up 12. 9% on the year. We delivered this by staying true to our heritage of quality and innovation, reminding our customers what makes M;S special. This year Marc Bolland set out a clear medium-term plan for the business, after extensive discussions with colleagues and us, the Board. This is covered in detail in Marc’s review. From day one, I have been struck by the passion and commitment of our people. I am delighted that this year we are paying a bonus to all employees to thank them for their energy and enthusiasm in what has been a difficult trading environment. Dividend We are committed to delivering consistent returns for our shareholders. To this end we have adopted a progressive dividend policy, with dividends broadly covered twice by earnings. We intend to pay a final dividend of 10. 8p per share (last year 9. 5p) in respect of the 2010/11 financial year. Governance Marks and Spencer Group plc  © MarketLine Page 26 Marks and Spencer Group plc Company View This year we returned to the traditional governance structure of a separate Chairman and Chief Executive, providing clarity between Marc Bolland and me, with regard to our respective roles. Put simply, I run the Board and Marc runs the business. The Board has a wide range of responsibilities. There are three that I think are par ticularly impor tant for the success of the business: first, to debate and agree our strategy and hold the executive team accountable for its execution; second, to ensure that we have the most talented team to execute this strategy and that we plan effectively for succession; and third, to set the tone for governance, which is par ticularly impor tant at M;S where ‘doing the right thing’ is an integral par t of our ethos. My ob is to ensure the Board has the right mix of skills and talents and to ensure that it works effectively as a team towards shared goals with the right mix of enquir y and suppor t of the executive directors from the non-executive directors. During the year we commissioned a formal Board evaluation from an independent consultant, the findings of which are outlined in the Governance section. This process highligh ted the real enthusiasm of the directors in suppor ting a shared ambition: to guide M;S to the ver y best future. We know that you expect high standards from M;S; it’s our responsibility to learn how we can improve. This review was an impor tant par t of that journey. As stated in our 2009/10 Annual Repor t, we reviewed the senior remuneration structure this year. Following extensive shareholder consultation, we believe we now have a framework that is both relevant to today’s M;S and fully aligned with our strategy. The Board Over the last year the Board has been strengthened by a series of executive appointments. In May 2010 Marc Bolland joined the business as Chief Executive, assuming the day-to-day running of the business from Sir Stuar t Rose in July. In October Alan Stewar t joined as Chief Finance Officer and in February we announced the appointment of Laura Wade-Gery as Executive Director, Multi-channel E-commerce; she will join the Board in July. Whilst the Board features some new faces, these changes have taken place around a core of executive and non-executive directors that has remained stable over recent years. I would like to pay par ticular tribute to Sir Stuar t Rose. When he became Chief Executive in 2004, M;S was at a low ebb. He restored confidence in M;S, re-established its values and built a strong business. The solid platform from which Marc is now implementing his plan is a credit to Stuar t’s energy and tireless commitment to M;S over the last seven years. The smooth management transition – the meticulous handover to me and the suppor t of Marc – is also a credit to Stuar t. In that connection, I would also like to thank Sir David Michels, and the Nominations ; Governance Committee he led, for managing a change of leadership over the past year that was accomplished quietly and effectively. David has decided to step down from the Board at the end of his second term in February 2012, but I am delighted that he will continue his role as Deputy Chairman until then. Marks and Spencer Group plc  © MarketLine Page 27 Marks and Spencer Group plc Company View I must also thank Louise Patten for the significant contribution she has made over the last five years, playing an impor tant role in each of our Board Committees. As Louise reaches the end of her second three year term on the Board, she has decided not to seek re-election at the upcoming AGM. Looking ahead Our priorities for the year ahead are clear. We have a plan and it is now our collective job to make it happen. The Board will concentrate on delivering exemplary governance at the highest level to enable our executive team to drive this strategy forward. The economy still gives us reason to be cautious. Yet in difficult times, our core values of Quality, Value, Ser vice, Innovation and Trust matter more than ever to M;S customers. These values remain at the hear t of our strategy and I therefore look forward to the future with confidence. Marks and Spencer Group plc  © MarketLine Page 28 Marks and Spencer Group plc Locations and Subsidiaries LOCATIONS AND SUBSIDIARIES Head Office Marks and Spencer Group plc Waterside House 35 Nor th Wharf Road London W2 1NW GBR P:44 20 7935 4422 http://www. marksandspencer. com Other Locations and Subsidiaries Marks and Spencer International Holdings Limited Great Britain GBR Marks and Spencer (Nederland) BV NLD Marks and Spencer (Ireland) Limited IRL Marks and Spencer (Asia Pacific) Limited HKG Marks and Spencer Simply Foods Limited Great Britain GBR Marks and Spencer Marinopoulos Greece SA GRC Marks and Spencer SCM Limited

Product Services And Branding Strategy Essay

Product Services And Branding Strategy Essay The term marketing mix was coined in 1953 by Neil Borden in his American Marketing Association presidential address. However this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a mixer of ingredients, who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried.[1] A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use. The Four Ps concept is explained in most marketing textbooks and classes. -Definition: Marketing mix is the combination of elements that you will use to market your product. There are four elements: Product, Place, Price and Promotion. They are called the four Ps of the marketing mix Product A tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Intangible products are service based like the tourism industry the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system. Packaging also needs to be taken into consideration. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, product differentiation is required and is one of the strategy to differentiate from its competitors Level 1: Core Product. What is the core benefit your product offers?. Customers who purchase a camera are buying more then just a camera they are purchasing memories. Level 2 Actual Product: All cameras capture memories. The aim is to ensure that your potential customers purchase your one. The strategy at this level involves organisations branding, adding features and benefits to ensure that their product offers a differential advantage from their competitors. Level 3: Augmented product: What additional non-tangible benefits can you offer? Competition at this level is based around after sales service, warranties, delivery and so on. John Lewis a retail departmental store offers free five year guarantee on purchases of their Television sets, this gives their `customers the additional benefit of peace of mind over the five years should their purchase develop a fault. Product Decisions When placing a product within a market many factors and decisions have to be taken into consideration. These include: Product design: Will the design be the selling point for the organisation as we have seen with the iMAC, the new VW Beetle or the Dyson vacuum cleaner. Product quality: Quality has to consistent with other elements of the marketing mix. A premium based pricing strategy has to reflect the quality a product offers. Product features: What features will you add that may increase the benefit offered to your target market? Will the organisation use a discriminatory pricing policy for offering these additional benefits? Additional features should increase the benifit offered to your target market. The firm may decide to charge more for these additional features. Branding: One of the most important decisions a marketing manager can make is about branding. The value of brands in today ¿Ã‚ ½s environment is phenomenal. Brands have the power of instant sales, they convey a message of confidence, quality and reliability to their target market.In principles of marketing by philip Kotler and gary armstrong a brand is defined as a name, term, sign symbol or a combination of these, that identifies the marker or seller of the product. A brand must stand out and be recognizable, and should help the firm differentiate itself from its competitors. Brands have to be managed well, as some brands can be cash cows for organisations. In many organisations they are represented by brand managers, who have hugh resources to ensure their success within the market. A brand is a tool which is used by an organisation to differentiate itself from competitors. Ask yourself what is the value of a pair of Nike trainers without the brand or the logo? How does your perception change? Increasingly brand managers are becoming annoyed by  ¿Ã‚ ½copycat ¿Ã‚ ½ strategies being employed by supermarket food retail stores particular within the UK . Coca-Cola threatened legal action against UK retailer Sainsbury after introducing their Classic Cola, which displayed similar designs and fonts on their cans. Internet branding is now becoming an essential part of the branding strategy game. Recently within the UK banking industry we have seen the introduction of Internet banks such as cahoot.com and marbles.com the task by brand managers is to make sure that consumers understand that these brands are banks! The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product pricing is one of the most important elements of the marketing mix. It is the only mix which generates a turnover for the organization. The remaining 3 ps are the varaible cost of the organisation. It costs to produce and design a product, it costs to distribute a product and it costs to promote a product. Pricing is diffiicult and must reflect supply and demand relationship. Pricing a product too high or too low could mean a loss of sales for the organisation. Pricing should take into consideration the following factors: 1.Fixed and variable costs. 2.Competition. 3.Company objectives 4.Proposed positioning strategies. 5.target group and willingness to pay. An organisation can adopt a number of pricing strategies among the following. 1.penetration price: Where the org sets a low price to increase sales and market share. 2.Skimming pricing: The org sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. 3.Competition pricing: Setting a price in comparision with competitors.A firm has three options, price lower, price the same or price higher. 4.Product line pricing: Pricing different products within the same product range at different price points.The greater the features and benifits obtained the greater the consumer will pay. 5.Bundle pricing: the organisation bundles a group of products at a reduced price. 6.Psycological pricing: The seller will consider the psycology of the price and the positioning of the price within the market place. The seller with therefore charge 99p instead of  ¿Ã‚ ½1 or  ¿Ã‚ ½199 instead of  ¿Ã‚ ½200. 7.Premium pricing: The price set is high to reflect the exclusiveness of the product. 8.Optional pricing: The organisation sells optional extras along with the product to maximise its turnover. http://www.vodafone.com/etc/medialib/cr10/pdf.Par.17290.File.dat/vodafone_sustainability_report.pdf

Proteins Therapy for Drug Discovery

Proteins Therapy for Drug Discovery Proteins are most dynamic and diverse macromolecules in our body, thus numerous functionally distinct proteins hold enormous promise for the development of new therapeutics for a variety of human ailments which contain mutated or other abnormal proteins, or those in an abnormally high or low concentration. However, the clinical application of protein therapeutics is still in its infancy since the poor physicochemical stability of proteins in the circulation and their limited membrane permeability interrupt successful delivery to the target sites. This review discusses advantages and limitations of current strategies, as well as the recent developments in protein delivery using nanoparticles. We also highlight nanoparticle-mediated alternative administration routes to injection, including oral, nasal, pulmonary, and transdermal delivery. Keywords: nanoparticles, protein delivery, protein therapeutics, administration routes, drug delivery systems Introduction With the strong growth in biopharmaceuticals and advanced drug delivery technologies in recent years, pharmaceutical companies are increasingly turning toward protein therapeutics in the search for drug discovery targets. A study by BCC Research indicated that the global market for bioengineered protein drugs was valued at $151.9 billion in 2013 and the market is further expected to grow to about $222.7 billion in 2019 for a compound annual growth rate (CAGR) of 7.2% from 2014 through 2019 [1]. Compared with the conventional small-molecule drugs that currently make up the majority of the pharmaceutical market, protein drugs offer the advantages of high specificity and less toxicity, whereas the high specificity often requires structural complexity of the proteins which can make them difficult to formulate, as well as challenging to deliver proteins to target disease sites. Nanotechnology-based approaches, including drug delivery systems using nanostructures such as liposomes, polymer nanoparticles, metallic nanoparticles, stimuli-responsive nanoparticles, and nanofabricated devices, has improved therapeutics in the field of biomedical applications [2,3]. This review describes current protein delivery technologies including those in the market, recent progress, and unmet needs in the formulations and delivery of proteins. The advances in nanotechnology reviewed here highlight that major hurdles in protein delivery can be met even through the patient-friendly, non-invasive routes. Progress and challenges in protein delivery To achieve successful protein therapeutics, the intrinsic characteristics of proteins such as structural instability and short half-life should be improved by designing appropriate protein delivery platforms. Inadequate design or formulation of protein drugs can cause degradation, denaturation, and/or aggregation of the protein molecules, and these could potentially cause immunogenic side effects after administration as well as lead to a loss in pharmacological activity. Effective intracellular protein delivery also remains a challenge as hydrophilic and large sizes of proteins are hardly permeated through the cell membrane. In this section, current technologies to deliver proteins, including intracellular delivery strategies, and their limitations will be discussed. Current protein formulations and modifications Biodegradable microparticles (1-1000 à ¯Ã‚ Ã‚ ­m) are attractive parental depot formulations for long-term protein drug release (from week to month). They enable sustained release of the proteins by both the diffusion of proteins from the polymer matrix and the degradation/erosion of the polymer [4,5]. The most widely used material for the encapsulation of proteins is poly(lactic-co-glycolic acid) (PLGA), as they are mechanically strong, biocompatible, biodegradable with favorable degradation rates, non-toxic, and approved for use in humans by the US Food and Drug Administration (FDA) [6]. Encapsulation of proteins into the microparticles can be prepared by several methods such as double emulsion, which is most widely used technique, phase separation (coacervation), ultrasonic atomization, spray-drying, microfluidics, etc. [7]. Once the proteins are encapsulated into microparticles, their release kinetics depend on the microparticle size, molecular mass of polymer, ratio of hydroph ilicity/hydrophobicity, polydispersity of microparticle size, and loading amount of proteins. Generally, larger size of microparticles lead to more prolonged protein release, but they can cause potential blockage of the needle required for administration, also the stability and bioactivity of the released proteins in the physiological condition need to be considered for long-term delivery. Degradation and erosion of PLGA can lower the pH inside the microparticles, which can further bring denaturation of the protein as well as aggregate formation. Currently, there are few microparticle drug delivery formulations (e.g. Trelstar depot) on the market and various microparticles have been designed for therapeutic protein delivery such as bone morphogenetic protein-2 [8], insulin [9], recombinant human epidermal growth factor [10], and recombinant human erythropoietin (EPO) [11]. Proteins smaller than 70 kDa are mostly cleared from the systemic circulation by glomerular filtration [12]. Chemical modification of proteins with hydrophilic polymers can reduce this renal clearance by increasing their molecular weight and/or hydrodynamic dynamic radius. The covalent attachment of polyethylene glycol (PEG) chains to proteins (PEGylation), as a typical example, enhances protein stability and pharmacokinetic (PK) properties, and the benefits of PEGylation have the PEGylated therapeutic proteins have reached the market with many examples on various stages of clinical development including Naloxegol (MovantikTM; AstraZeneca) which was approved by FDA in 2014 for the treatment of opioid-induced constipation [13,14]. Hyperglycosylation can also extend biological half-life and improve stability by improving solubility of proteins and reducing immunogenicity. The addition of sugar molecules to a protein is more natural process than PEGylation since it is already a part of endogenous post-translational enzymatic process as well as polysaccharides are readily degraded into native glucose molecules [15]. N-glycosylated EPO (Aranesp) is marketed by Amgen from 2001, and there are more glycosylated protein drugs under preclinical and clinical investigation such as polysialylated forms of EPO, granulocyte-colony stimulation factor (G-CSF), and insulin [16]. Although the chemical modification provides the prolonged circulation half-life of the proteins, this approach can result in unfavorable conformational changes, a loss of biological activity and binding affinity to their target due to steric hindrance, and heterogeneity [17]. This reduction in physicochemical properties leads to the systemic exposure of proteins to get enough pharmacological potency, but toxicities related to peak exposure can limit their clinical use. Various efforts aiming for the maintenance of protein activity are being made by designing site-specific modification. For example, chemi cal ligation of synthetic peptides including levulinyllysine to EPO indicated superior hematopoietic activity compared to native protein [18]. More recent advances in chemoselective targeting show that the incorporation of canonical and noncanonical amino acids can enhance the selectivity, while improving PEG architecture [19]. In addition to chemical modification, genetic constructs and fusion technologies have been intensively studied to elevate protein half-life and delivery efficacy. Fc-based fusion proteins that are composed of an immunoglobin Fc domain and genetically linked therapeutic protein to this domain are promising approaches as Fc-fusion can endow a protein with unique effector functions mediated by Fc receptor binding and complement fixation [20]. The neonatal Fc receptor (FcRn) mediated recycling and transcytosis process results in half-life extension (e.g. IgG: up to 21 days) and also the increased molecular weight of fusion proteins through the size of the Fc-domain (~50 kDa) reduces renal clearance [21]. A number of therapeutic proteins based on fusion with the IgG Fc domain are on the market for clinical use since Fc-fused tumor necrosis factor (TNF) receptor-2 (Enbrel; Amgen/Pfizer) was approved for the treatment of rheumatoid arthritis and plaque psoriasis in 1998, and several candida tes are currently under clinical trials [22]. Recent Fc-fusion platforms focus on the ways to retain biological activity and binding affinity which can be commonly decreased after fusion process [23,24]. Jung et al. included a ‘chaperone’ protein in Toll-like receptor 4 Fc-fusion to stabilize the desired partner [25]. The development of heterodimeric Fc platforms based on strand-exchange engineered domain CH3 heterodimers consisted of alternating segments of human IgA and IgG CH3 shows multiple specificities within homodimeric Fc-fusion platform [26]. To utilize alternative backbones, such as IgA, IgE, and IgM, may also serve benefits to the activity of the fused partner [27-29]. However, concerns are ongoing about the immunogenicity of Fc-fusion proteins because interactions between the Fc domain and its receptors have multivariable immunological consequences, which can raise concerns in the treatment for chronic disease [30]. Other attempts to target FcRn including al bumin fusion which has direct interaction with FcRn and genetic engineering of Fc domains have also been reported. A glucagon-like peptide-1 (GLP-1) albumin fusion achieved ~ 5 day half-life and received FDA-approval (Albiglutide; GSK) for the treatment of type-2 diabetes [31]. A recombinant polypeptide fusion construct which consists of an unstructured polypeptide and protein drug is another example of generic fusion technology capable of extending plasma half-life. Schellenberger et al. developed an exenatide-XTEN fusion and demonstrated ~58 times increased half-life and a low rate of immunogenicity in animals, even in the presence of the adjuvant [32]. Still, issues remain in safety of fusion approaches, in particular in the case of fusions with native human proteins because of the cross-reactivity with endogenous homologues which can affect on a long-term safety and clearance of subsequent doses [33].