Difference between 2 companies Free Essay Example, 3000 words

McDonald’s Ownership A McDonald’s restaurant can be operated through a number of avenues, these include either by an affiliate, a franchisee or directly by the corporation itself. While most of the company’s operations within the United States are operated by the company directly, the company primarily relies on the use of franchising operations in conducting its operations in its other locations. The term franchising has been used to describe many different forms of business operations, however a franchise is basically an agreement between two parties that comprise of the franchisee and the entrepreneur (franchisor). A franchise agreement grants the franchise the authorization and right to operate a specific McDonald’s restaurant at given location. McDonald’s franchise agreements usually have a time span of 20 years (Gilbert, 2009). The franchise is given a number of rights that include the right to use the McDonald’s trademark and method of operation. On the other h and, McDonald’s is able to obtain its corporate revenue through the collection of royalties, rent and the fees that franchisees are required to pay as well as the sales that the company operated restaurants are able to make. McDonald’s Organizational Structure McDonald’s employs the use of a number of different structures to help it in running its operations at different levels. We will write a custom essay sample on Difference between 2 companies or any topic specifically for you Only $17.96 $11.86/page

Fashion Of William Shakespeare s Time - 1103 Words

http://alharthisamah.wix.com/16thcenturyfashion Samah Alharthi English 206 Dr. Swanson 22-02-1016 Fashion in Shakespeare’s Time Elizabethan Era (1558-1603) Elizabethan Era Clothing The Elizabethan era was an extraordinarily fashion era for both man and women, a time when everything was changing from the fifteenth century simple dress to extravagant and dramatic styles which we call Elizabethan fashion. At that time, new styles, modern yet unique fabrics, charm colors, sharp design and glamor silhouette were evolving. Every layer and piece of Elizabethan outfit was equally important, from the fancy dress to the smallest details. Definitely, the Elizabethan era was the time of beauty and fascination. In fact, during the Elizabethan time clothing reflects mood, values and the person’s statue in the society. So fashion at that time was the primary indicator of one’s social statue and the differences in styling between upper class and lower class were noticeable and very easy distinguished, in terms of fabric, colors, and design. During the Elizabethan time period, in order to understand a person’s life style including clothes, we must first understand how the society at that time worked. The Elizabethan society was divided into three classes, first upper class including nobles and royalty, second middle class or hard-working class, and finally lower class or peasants. The availability of fabrics, colors, and designs were extremely limited for lower class compared toShow MoreRelatedWilliam Shakespeare s Romeo And Juliet1287 Words   |  6 Pagesand Juliet by using the time period in Verona, the character Romeo, the location Italy and the power of true love. The classical movie Romeo and Juliet is told through the 1990’s time period in Verona. The 1990’s was an era that had innovative fashion trends and new evolving technology. The fashion style that most people wore in the 1990’s (90’s) was incorporated into the movie Romeo and Juliet. According to the â€Å"1990s News, Events, Popular Culture and Prices†, the 90’s fashion consisted of torn, stoneRead MoreWilliam Shakespeare s Othello And The English Language1649 Words   |  7 PagesPoet, playwright, actor and dramatist, William Shakespeare is one of the most influential and greatest writers up to this day in poetry and the English language. Known, for his many acclaimed works such as his famous plays, â€Å"Othello,† â€Å"King Lear,† and â€Å"Romeo and Juliet† etc. More than four hundred years have passed and William Shakespeare’s work still alive as if it was during the early ages of Shakespeare work. Shakespear e influenced ranges from literature, theater, films and even the English languageRead MorePortrayal Of Women During The Elizabethan Period1656 Words   |  7 Pagesin Macbeth by William Shakespeare, the Elizabethan period had a lack of respect for women, but Shakespeare changed it by having powerful, strong and independent female characters, like Lady Macbeth. Throughout history, women have not had the same amount of right and respect as the men. â€Å"Women were regarded as ‘the weaker sex’, not just in terms of physical strength, but emotionally too† (Sharnette). According to Shakespeare’s World/Stage, â€Å"During the time of William Shakespeare, the majority ofRead MoreThemes in Macbeth742 Words   |  3 PagesWithin Shakespeare s famous Macbeth there are many different themes that make the play the captivating masterpiece that it is. The role of the supernatural is a very important element of Shakespeare s Macbeth. Just as important, the theme of masculinity is very dominant. Both themes contribute to the play s unique and powerful nature, overall creating a very effective storyline, strong characters, and unexpected twists and turns throughout. In the time of William Shakespeare thereRead MoreWilliam Shakespeare s Romeo And Juliet977 Words   |  4 Pagesplanet. Many will respond with a likely sarcastic response, but tell you of the man known as William Shakespeare. He’s most popular for his drama play called Romeo and Juliet, but holds credentials in the literary department for much more than that. He’s written dozens of plays, many dramas such as MacBeth and Hamlet, with some noteworthy comedies for the time period like Much Ado about Nothing and A Midsummer s Night Dream. While some of his plays have straightforward storylines and the title is extremelyRead MoreThe Flea By William Shakespeare, Emily Dickinson, And John Donne1521 Words   |  7 Pagesvisceral form of self expression for centuries. Consequently, poetry has no means of resisting the constant shifts in style, prose, and content that come with the times. This is showcased in the works by famous poets like William Shakespeare, Emily Dickinson, and John Donne. William Shakespeare is credited to be a wordsmith ahead of his time for crafting some of the most well known works in literature, Emily Dickinson is considered one of America’s leading female poets of the 1800s, and John Donne isRead MoreThe Octogonal Structure Roared from Shakespeares Performers791 Words   |  3 Pagesstarted an era of acting in the late 1500’s and changed the way we look at performing still to this day. This theatre was jaw dropping as people entered this â€Å"salvaged wood† framed theatre. In 1599, the stage was ready for acts to begin. The name of the Globe Theatre was for people to know that the â€Å"whole round world† could be represented by every actor. William Shakespeare referred to the theatre as â€Å" this wooden ‘O’ † (Langly). In Elizabethan times, the ground along the bankside could floodRead More Insanity in Hamlet1565 Words   |  7 Pagesthe murder of his father. For hundreds of years, William Shakespeare has captured the hearts of many theatre fanatics and critics as well as writers all alike. The Play entitled Hamlet is no exception. Hamlet is a play about a princes journey through the perils of his own mind, as he is brought to light of certain circumstances regarding his father?s tragic death, with which brings him to certain conclusions that demand action. Shakespeare planned out the play so that it would smoothly shiftRead MoreThe Conflicting Nature Of Power In Shakespeares King Henry Iv Part 11517 Words   |  7 Pagestheir actions are determined by their present company. In this way, an individual may act in conflicting ways in order to please their present audience and thus are removed from the power they are deemed to possess. The pivotal characters in William Shakespeare s King Henry IV Part 1 successfully portray the conflicting nature of power throughout the play and ultimately comment on how aspects of politics are subject to the opinions of spectators. Politics is defined as the process of making decisionsRead MoreThe Tragedy Of Sophocles Oedipus998 Words   |  4 PagesShakespeare, one of the greatest playwrights of the Renaissance era, could have changed Ancient Greek Theatre plays tremendously as his approach was drastically different than that of Greek playwrights. In Oedipus by Sophocles, a curse has been set on the people of Thebes for the previous murderer of their former king Laius. King Oedipus as a child was given a prophecy that he would kill his father and marry his mother and that indeed has occurred as it is proven by witnesses that he was the murderer

Logistics Management

Question: Discuss about theLogistics Management. Answer: Introduction Logistic Management is a component of supply chain management that is utilized to achieve customer satisfaction by meeting customer by planning and organizing the effective movement of information, goods and services from the origin point to the point of destination. Logistic management is useful in achieving customer satisfaction. The research study is focused on the logistics management of QUBE. QUBE is a provider of logistic and management services in Australia. The company offers logistics and port management services. The company also offers expertise in services like warehousing and distribution, handling and managing of cargos and also management of vessels. The report focuses on the critical analysis of the logistics management of the company and shed critical light into the management practices adopted by the company in relation to the current logistic issue observed in Australia. The report also offers proposed recommendations and remedial actions used for combating such issue (Jim Wu et al. 2013). Logistic Management of QUBE The logistic operation service of Qube Logistic covers road and rail transport, distribution, warehousing, container Park, intermodal logistics hubs that includes international freight forwarding and rail terminal (Qube.com.au. 2016). The service is also combined tailored and integrated solution to the customers for providing customized transportation to the customers. From the past, four years the organization has expansively expanded and developed the logistic portfolio for becoming the largest logistic organization in Australia. The organization is highly focused on developing and growing its infrastructure. The organization has also established various logistics hub for ensuring better logistic management in different ports and islands. The multiuser terminals of this organization are strategically located for regional rail services, interstate and port shuttles. Unparalleled synergies are provided with the 24/7 hours in largest ports of Australia. In order to mitigate the weathe r related issues of different regions, the organization provides hub facility, where the client organizations can temporarily keep their goods on stock for climate problem and after the climate change, the client organizations can shift the goods to right destinations. The organization also provides transport and warehouse visibility system. Current Logistic Issue in Australia Technological Issue Existing in Australia Regarding Logistics Australia is a developed economy with a good state of technology available in the country. However, it can be seen logistic practices are growing on a high scale, which has led to a greater technological requirement in the country. The logistics management in the country demands a high level of technology and the country is striving to achieve it. However, it is viewed that the current technological state leaves the country in the grip of technological challenge in relation to logistics management (Prajogo and Olhager 2012). The global financial crisis has crippled the economy of many countries including Australia. It is inferred that the economical stage has been witnessing cyclical fluctuations in the economic trend and also witnessing a weak economical state. The growing logistic services and the increasing relevance of logistic to business tend to create strong technological demand in such regards. The current technological state is estimated to be insufficient for carrying out extensive and high scale logistic operations. Therefore, additional cost has to be incurred on adopting new technology. This increases the cost burden in the wake of the global financial meltdown. The application of new technology would lead to extra investment and leads to cost burden regarding logistics. This would lead to increased level of budgeting and forecasting regarding cost related to logistics. This is an important aspect in relation to logistic issue existing in Australia. Cost considerations tend to affect the profitability of organizations and affect the economic state of the country. (Prajogo and Olhager 2012). The need of new and advanced level of technology would require strong and more integrated level of systems. The adoption of advanced technology often leads to development of new integrated systems. The high scale suppliers and customers could change to the changing level of integrated system but small-scale suppliers often might not have access to the changed integrated system. Thus, it leads to a clash between integrated systems involved in logistics. This disrupts the efficiency in logistics. This would lead to disruption and hindrance in the information system and the glow of information. This would also lead to delay in operations and also leads to time snag (Bhakoo et al. 2012). The increasing need of technology in logistic management has led to an increased dependency of technology. More and more companies are adopted the method of digitization in regards to information technology. However, technology comes with its share of unmixed blessings as well. System crash and software corruption are a product of viruses and malicious elements existing in the technology. This increase the perils related to technology and computer system. In such a scenario, the common step adopted is increasing the backups of information and data fed on the computer system, which would salvage the necessary and significant information required by an organization. Increasing the level of backups and the cost of creating such level of security increases the cost involved in technological procedures. This increased burden of cost in logistic management affects the cost structure of an organization and ultimately leads to decline in the profitability of the company, which would severely hamper the economic growth of Australia in the wake of global financial meltdown (Francis et al. 2014). The technological state is not equally distributed among various states and regions in Australia. It can be observed that the major cities and states in Australia have a high standard of technology and the state of technology presented in credible. However, it is not true for every other city and state in Australia. Some regions in Australia do not have a very high state of technology. Slow internet speed and lack of requisite integrated information system is not present some regions of Australia. As a result, there is low level of technology present in some regions of Australia. It surfaces as a challenge to the logistic operators in adopting new technology to update to the increasing level of logistic operations existing in the country (Jim Wu et al. 2013). Technological change in logistics gives many areas of concerns. Resistance to change is an age old term, which is familiar to all. Resisting to a change is a common human phenomenon and psychology. Change in technology is at times viewed as disturbing and time consuming for people. Change in technology in logistics commonly refers to the change in ERP system and such changes often lead to changes in the management of an organization. Any new change in technology often requires training and development process to be undertaken by the employees. The employees do often not greet this in the warmest spirit and it leads to grievances from the employees. In addition to it, excessive training and development process can lead to increase in the cost of the company. Therefore, changing technological level causes disruption and resistance from the employees (Cabalag et al. 2013). Change in technological level and adoption of new technology causes adjustment issues among people (Chhetri, Butcher and Corbitt 2014). Adjusting to new and advanced technology often leads to adjusting to new systems. This increases the risk of employees of failing to adjust to new technology and also leaves the companies and its operations at the perils of such failure. There could be technical and increased jargons involved in the change of systems and technology. There is growing need of external assistance from beyond the geographical locations of Australia in such matters. As a result, there is an escalation in the cost structure and causes delay in production and distribution processes (McKinnon 2013). Analysis of QUBEs Logistic Management Related to Issue The above discussion discloses the main problem of logistic management in Australia. It has been found that logistic management issue of Australia in primarily focused on technological issue. As Australia is facing issues relate to current technology that are adopted by the various logistic organizations, the management of Qube logistic in facing various issues. Additional Cost of Logistic Management New technologies are extremely costly to be adopted in logistic operation, which will eventually increase the cost of management (Reiners and Wood 2013). It is very advantageous for the logistic organizations to adopt new and up-to-date technologies to bring competitive advantage. Although Qube Logistic uses GPS enabled technology but it has been found that the technology is not up to the level and does not provide timely information to the customers (Storer et al. 2014). In this situation, the organization needs advanced level of GPS enabled system that will provide accurate and timely information of warehouse and transportation. Qube logistic management is facing high cost for implementing and maintaining such advanced level of GPS enabled system. Disintegrated System It is very important for the Logistic organizations to integrate all the systems of their own organization as well as the client organizations. It has been found that the largest clients of Qube Logistic are using integrated system as used by Qube Logistics and thus, they are getting timely information from the organization by ensuring its exact value (Fahimnia et al. 2013). On the other hand, the organization is facing problems in logistic operation when it is dealing with small-scale organization regarding their logistic operations. It has been found that small scale organizations are not able for use the same level integrated system as Qube. Therefore, system clash between the organizations is leading disruption and delay in information flow. Technology Dependency All the organizations are going digital and thus, it is necessary for Qube logistics to keep all the information stored in computers as well as in internet servers. As the organization deals with numerous clients in Australia, keeping all the information on computer and internet servers make it very difficult to maintain the integrity of the organization (Sohal and Rahman 2013). Due to huge range of information, it makes overload of the information on the internet servers and computers. Information overload on the internet server and computers sometime cause disruption of information and thus, occurs information loses (Waters and Rinsler 2014). Regional Issues Some regional areas in Australia find it hard to accommodate new technology large size and low population density of Australia. Internet speed of regional area is commonly known to be low speed and thus, the organization faces high difficulties in operating with the organizations in small regional organization (Prajogo, Oke and Olhager 2016). The organization is not able to communicate timely with the organizations in small regional areas due to low internet speed. Mobile phone reception in these areas also is very weak and thus, high communicational issues in logistic problem are arisen. Employee Resistance The management of Qube Logistics is facing difficulties in managing the employees who are involved in logistic transportation. Many employees of Qube Logistics feel that accommodating and adopting new technology is very hard and it is even unnecessary (McKinnon 2013). Therefore, the management of this organization is facing difficulties in convincing the employees in adopting new technology in the organization. In order to implement new ERP system, the organization needs several weeks that also need high level of technological training to the employees, but the employees are resistant to change that is preventing the organization in adopting advanced technology. Recommendation While developing certain recommendations, it can be said that the organization needs to identify certain potential solutions, which will ne elaborated in the following table: Challenges Potential Solutions Additional cost of Logistic management Enhanced forecasting: Qube Logistics needs to identify better solutions for quality management and therefore, it needs to incorporate advanced GPS system, which has already proved beneficial for other similar companies. This will reduce the risk of involving unfamiliar technology. Cooperative Purchases: Additional management cost can be only reduced by joint purchases from suppliers, as the amount of technological procurement will be reduced (Pateman, Cahoon and Chen 2016). Technological Options: The organization needs to incorporate real-time based tracking system on all its categories, so that immediate query of the clients can be reduced. Disintegrated system Compatible system: Qube needs to incorporate certain technology where both its large-scale clients and small-scale clients can be intercepted. For this, real time based information needs to be shared by separate terminal. The terminal for small-scale clients will be not highly cost effective and can be easily incorporated and through that, main data can be allocated at the interface used by Qube, which will eventually reduce compatibility issue (Wang, Jie and Abareshi 2015). Technological dependence Using Backup System: Qube is prone to lose vital information, as it does not have suitable backup system. The organization needs to include automated backup system where all the day-to-day information will be stored. Client information, supplies, database, accounts and other dimensions are to be recorded within the system so that minimal loss of data occurs (Su 2015). Regional Issues Satellite Communication: Qube is expanding in all over Australia and therefore, the organization needs to develop its own satellite communication system with radio signals for communicating with deeper regions. This might be a huge investment for the organization, but it will lead to best communication along with market penetration. Employee Resistance Training and Support: Qube needs to entertain and enlighten its employees to understand the requirement of technological incorporation. Organization needs to ensure training and development programs where employees will feel the necessity of change management. Technological Adjustment Better Planning: Qube needs to ensure better planning and coordination at the initial stages while developing its new technological platforms. Proper decisions and support is to be gained from its stakeholders. Stage wise implementation: The incorporation of technology is to be done according to stages, where evaluation of new ideas is to be tested and then finalized (Keating 2013). Support and training: Finally, Qube needs to justify the technological adaptation and then provide training and development programs to its employees so that any sort of discrepancies are eliminated. Table 1: Recommendations for QUBE Logistics (Source: Created by Author) Conclusion While concluding, it can be said that technological issue in one of the most impactful factor in the logistics industry of Australia. It has been found that logistics organizations mostly rely on the internet for communication but most of the regions in Australia are having poor internet service. This results in diminishing prompt services. If the organization Qube is considered, it can be said that the same issue is experienced by it, which has eventually raised the financial consideration. The organization is trying to reach beyond the capabilities of supplies, but it is facing certain communication problems. Moreover, the organization is failing to update its technologies as it is not receiving employee trust. Therefore, certain recommendations have been established in favor of Qube, which will help in developing its business in future. Some of the most essential points that need to be included are technological dependence, integrated communication platform and financial managemen t. Such factors will raise the bar of corporate expansion and sustainability of Qube in future. Reference List Bhakoo, V., Singh, P. and Sohal, A., 2012. Collaborative management of inventory in Australian hospital supply chains: practices and issues.Supply Chain Management: An International Journal,17(2), pp.217-230. Cabalag, M.S., Wasiak, J., Andrew, N.E., Tang, J., Kirby, J.C. and Morgan, D.J., 2014. Epidemiology and management of maxillofacial fractures in an Australian trauma centre.Journal of Plastic, Reconstructive Aesthetic Surgery,67(2), pp.183-189. Chhetri, P., Butcher, T. and Corbitt, B., 2014. Characterising spatial logistics employment clusters.International Journal of Physical Distribution Logistics Management,44(3), pp.221-241. Fahimnia, B., Reisi, M., Paksoy, T. and zceylan, E., 2013. The implications of carbon pricing in Australia: An industrial logistics planning case study.Transportation Research Part D: Transport and Environment,18, pp.78-85. Francis, M., Fisher, R., Thomas, A. and Rowlands, H., 2014. The meaning of valuein purchasing, logistics and operations management.International Journal of Production Research,52(22), pp.6576-6589. Jim Wu, Y.C., Kevin Huang, S., Goh, M. and Hsieh, Y.J., 2013. Global logistics management curriculum: perspective from practitioners in Taiwan. Supply Chain Management: An International Journal,18(4), pp.376-388. Keating, A., 2013. Food security in Australia: the logistics of vulnerability. In Food Security in Australia(pp. 21-34). Springer US. McKinnon, A.C., 2013. Starry-eyed: journal rankings and the future of logistics research.International Journal of Physical Distribution Logistics Management,43(1), pp.6-17. Pateman, H., Cahoon, S. and Chen, S.L., 2016. The Role and Value of Collaboration in the Logistics Industry: An Empirical Study in Australia.The Asian Journal of Shipping and Logistics,32(1), pp.33-40. Prajogo, D. and Olhager, J., 2012. Supply chain integration and performance: The effects of long-term relationships, information technology and sharing, and logistics integration.International Journal of Production Economics,135(1), pp.514-522. Prajogo, D., Chowdhury, M., Yeung, A.C. and Cheng, T.C.E., 2012. The relationship between supplier management and firm's operational performance: A multi-dimensional perspective.International journal of production economics,136(1), pp.123-130. Prajogo, D.I., Oke, A. and Olhager, J., 2016. Supply chain processes: linking supply logistics integration, supply performance, lean processes and competitive performance.International Journal of Operations Production Management,36(2). Qube.com.au. 2016. Qube | Qube Holdings | logistics services, port services, bulk material handling, third party container logistics, infrastructure. [online] Available at: https://www.qube.com.au/ [Accessed 1 Jun. 2016]. Reiners, T. and Wood, L.C., 2013. Education in Logistics and Supply Chain Management.Learning Management Systems and Instructional Design: Best Practices in Online Education, p.323. Sohal, A.S. and Rahman, S., 2013. Use of third party logistics services: an Asia-Pacific perspective. InHandbook of Global Logistics(pp. 45-67). Springer New York. Storer, M., Hyland, P., Ferrer, M., Santa, R. and Griffiths, A., 2014. Strategic supply chain management factors influencing agribusiness innovation utilization.The International Journal of Logistics Management,25(3), pp.487-521. Su, S.L.I., 2015. Contemporary strategic supply chain management (SCM) and logistics issues in Asia.International Journal of Physical Distribution Logistics Management,45(9/10). Wang, M., Jie, F. and Abareshi, A., 2015. Evaluating logistics capability for mitigation of supply chain uncertainty and risk in the Australian courier firms. Asia Pacific Journal of Marketing and Logistics,27(3), pp.486-498. Waters, D. and Rinsler, S., 2014.Global logistics: New directions in supply chain management. Kogan Page Publishers. Zhang, X., Zhang, Z., Zhang, Y., Wei, D. and Deng, Y., 2013. Route selection for emergency logistics management: a bio-inspired algorithm.Safety science,54, pp.87-91.

Practices of Market-Driven Companies free essay sample

Ducker, (Presidential Medal of Freedom winner) said: The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Practices of the Market Driven The practices of maket driven company can be evaluate by Understanding what the company do, and how they measure the bottom line consequences of their orientation to their markets. Also the most of the company had start adopting the market- driven strategy to understand the logic that all busineess strategic deciosion should start with the distinct amp; clear understanding the market , customer and the competitors. t requires a customer focus, intelligence about competitors, and cross-functional cooperation and involvement. This initiative extends beyond the marketing function in an organization. Objectives of the Market driven: Market-oriented companies is effective in getting all business functions to work together to provide superior customer value. This objective of the busin ess process helps to improve the overall level of product quality, reduce costs, and also improve service delivery. We will write a custom essay sample on Practices of Market-Driven Companies or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A market-driven strategy is built with an understanding of the market and the customers that form the market. The characteristics of market-driven strategies include developing a Market-orientation, leveraging distinctive capabilities, finding a match between customers Value and organizational capabilities, and obtaining superior performance by providing superior Customer value. Superior customer value occurs when the buyer has a very favorable use experience compared to his or her expectations and the value offerings of competitors Distinctive capabilities are a key part of developing a market-driven strategy. Distinctive capabilities are superior to the competition, difficult to duplicate, and applicable to multiple competitive situations. Capabilities need to be identified and analyzed, market sensing and customer linking capabilities and necessary organizational changes implemented. The major dimension of market-driven strategy is to provide an essential view relating to the development of business and marketing strategies. Evaluating the customer and competitors: The two largest sides to the market equation are the customers and competitors. If your organization is evaluating itself in terms of customers, they should determine who will be your customers, what the customer’s value amp; how you will compete, and how your customers perceive you. It may choose to take a more competitor-focused approach, with the objective of beating your competition in cost, functionality or quality. To achieve superior customer value, company requires superior understanding of what creates value for customers. Customer satisfaction Indicates how well the product use experience compares to the buyer’s value expectations. Superior customer value results from a very favorable use experience compared to expectations and the value offerings of competitors. The drawback with the customer approach is not paying enough attention to the competition. The drawback with the competitive approach is not being customer oriented enough. How will you compete? A company can be market-oriented only if it completely understands its markets and the people who decide whether to buy its products or services. † The company can compete by following keys that are how is your market segmented? Which segments have the most attractive competitive opportunities? What segment best aligns with your competencies? What segment is most risky? You need to carefully identify your competitive strategy. What are you going to focus on cost, functionality, quality, customization or speed? How exactly will you differ from your competition? Characteristics of market driven: a. primary objective is to provide customer superior and maximum value b. strategy should be focus on the marketing management like segmenting, targeting and positing c. they should improve the customer services, quickly respond to the customer changing needs Process of the market driven strategy:- ? Segments ? Value opportunities ? capabilities/segment match ? Target ? Positioning To get a product or service to the right person or company, a marketer would firstly segment the market, then target a single segment or series of segments, and finally Position within the segment Market Segmentation is the process of placing of subsets of buyers within a market that share similar needs and demonstrates similar buyer behavior. Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. A segment is a possible market target for an organization competing in the market. Segmentation offers a company an opportunity to better match its products and its capabilities to buyer’s value requirements. Customer satisfaction providing a value offering that matches the value proposition considered important by the buyers in a segment. There are many ways that a segment can be considered. For example: * By geography such as where in the world was the product bought. * By psychographics such as lifestyle or beliefs. * By socio-cultural factors such as class. By demography such as age, sex, and so on. A company will evaluate each segment based upon potential business success. Opportunities will depend upon factors such as: the potential growth of the segment the state of competitive rivalry within the segment how much profit the segment will deliver how big the segment is how the segment fits with the current direction of the company and its vision. Examining the opportu nities and capabilities of the specific market segments helps identify how to -: 1. Attain a closer match between buyer’s value preference’s and the organization’s capabilities 2. Compare the organizations strengths and weakness to the key competitors in that particular segment. Market targeting To define a target market requires market segmentation, it mean breaking of market into segment then concentrate amp; target on each market segment. The beauty of  target marketing is that it makes the promotion, pricing and distribution of your products and/or services easier and more cost-effective. Target marketing provides a focus to all of your marketing activities. Through segmentation, a firm divides the market into many segments. But all these segments need not form its target market. Target market signifies only those segments that it wants to adopt as its market. A selection is thus involved in it. In choosing target market, a firm basically carries out an evaluation of the various segments and selects those segments that are most appropriate to it. As we know that the segments must be relevant, accessible, sizable and profitable. Positioning involve implementing our targeting. Although there are different definitions of Positioning, probably the most common is: â€Å"A products position is how potential buyers see the product, and is expressed relative to the position of competitors. Positioning is a platform for the brand. It facilitates the brand to get through to the mind of the target consumer. In Brief summary, the market driven just needs to understand the needs, wants and the behavioral of the customer, competitors and the markets. Company should adopt the market strategy, in order to deliver the superior value to customer as a primary objective and they must possess certain capabilities that are market awareness, Organizational flexibility, strategic vision, and external relationships.