The Quantity Theory Of Money And Taylor s Rules - 1497 Words

The quantity theory of money and Taylor’s rules offer quite different perceptions about â€Å"[to what] extent the structural models should enter the monetary policy decision-making process†()that they appear to be on opposite ends of the spectrum on the issue of monetary policy rules. The quantity theory of money, as restated by Friedman, leads to a constant money growth rule. Monetarists believe that â€Å"variation in the money supply has major influences on national real output in the short run and the price level over longer periods, and that objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy†(). The relationships can be illustrated in the following equation, ∆M+∆V=Ï€+∆Q Where M is the total amount of money in circulation on average in an economy during the period, V is the velocity of money, Ï€ is inflation rate, and Q is real output. In the long-run, neutrality of money works which implies a change in the stock of money affects only nominal variables in the economy such as prices level, with no effect on real variables, like real GDP. In short run, however, assuming V is a relatively stable variable, a positive correlation exists between a change in the money supply and a change in real output. Having taken into consideration the indeterminate effect ∆M has on ∆V, Milton Friedman prudently proposed a k-percent rule, where the money supply would be automatically increased by a fixedShow MoreRelatedScientific Management: Pros and Cons1415 Words   |  6 PagesFrederick Winslow Taylor (1865 - 1915) define Scientific Management or Taylorism with 4 principles as explained in appendix A. His principles were than perfected by Henry Ford which known as Fordism, and it showed the world it could be applied and with great success. Although now it s being diluted with different theories and principles in modern era, but the main core principles is still widely used around the world as it brings a certain degree of success and not as a trial an error method. Read MoreCredibility of an Inflation-Targeting Regime1377 Words   |  6 Pageseconomists call ‘zero lower bound’. Unfortunately growth seemed unaffected and to have negative interest rates would lead only to depositors withdrawing their money out of banks and leading to large scale bank runs. Thus unconventional methods such as quantitative easing, were implemented by banks to stimulate growth by making consumers think that money would be worth less in the future, in order to increase spending in the present. However, even after this experiment, the world’s big economies are stillRead MoreBuilding A Successful Business Empire1609 Words   |  7 Pagesprocess of reaching organizational goals by working with and through people and other organizational resources’. This statement basically says that when a company wans to achieve certain goal(s), they will have to work together as a team so that everything is organized, and the team must have a leader to rule it in the correct path. Whilst managing the company, there needs to be full concentration, determination and will power, which all together form a successful business empire. Management hasRead MoreThe Advantages Of Taylorism ( Scientific Management )1747 Words   |  7 PagesCritically evaluate and discuss the advantages and disadvantages of Taylorism (Scientific Management) In the late 19th century, Frederick Winslow Taylor, a mechanical engineer, created the theory of scientific management (or Taylorism). Scientific management intends to achieve efficiency by increasing worker productivity, predictability by standardising and dividing up tasks and control by creating a hierarchical working environment (Huczynski Buchanan, 2013). This essay will argue that the onlyRead MoreCompare Frederick Taylors Mass Production and Eric Trists Socio-Technical Team Based Production Approaches to the Design of Work Systems1651 Words   |  7 Pagesproduction and Eric Trist’s socio-technical team-based production approaches to the design of work systems. a) What are the characteristics and key features of each? b) Discuss the fundamental differences between them including underlying theory, methods, principles, and role of management. c) Cover the advantages and disadvantages of each system – in which context does each perform best? d) What has led to the decline of mass production in the U.S., and how can socio-technical systemsRead MoreImpact of Taylor and Ford on Organizations Today1747 Words   |  7 PagesImpact of Taylor and Ford on Organizations Today Scientific management is a well known approach towards management and it can be traced back to the work of Fredrick Taylor and Henry Ford. Taylor believed that similar to the way that there is best machine to each job, so there is the best method that people should undertake their jobs. Fordism which picked up the name of its pioneer, Ford, involved mass consumption which is combined with mass production to produce widespread material advancementRead MoreComparison of Mass/Lean Production/Socio-Technical Systems1438 Words   |  6 Pagesaffect productivity, work optimization, and the overall success of the economy. Production of goods of any sort stemmed from the division of labor. Production teams were originally thought to increase quality of work, dexterity, productivity and quantity. The Wealth of Nations discusses that if every country specializes in what they do best, then this must result in a more efficient economy for everyone. Before the rise of corporations, American farms relied on a local, craft production marketRead MoreRational Expectation Hypothesis Proposed By Lucas ( 1973 ) And Sargent1524 Words   |  7 PagesThis will speed up the flow of money, resulting in more money is created in the market and rising price level. Moreover, inflation expectations often makes people to increase the purchase of real or financial assets rather than holding the money, considering hedge risk or make investment. As a result, the monetary supply become overabundance so that promote the rise of price level. Dotsey and King (1983) implied the aggregate supply and rational expectation theory to explore the monetary policyRead MoreMonetary Policy On Economic Prosperity Essay1679 Words   |  7 Pagesexist a number of crucial channels that have been identified in this context. These channels are; 1. Interest rate channel 2. Credit channels ïÆ'Ëœ Bank lending channel ïÆ'Ëœ Balance sheet channels 3. Exchange rate channel 4. Equities channels ïÆ'Ëœ Tobin’s q theory ïÆ'Ëœ Wealth effects These channels generally reinforce each other they all move aggregate expenditures in the same direction. All channels serve to increase aggregate expenditures with expansionary monetary policy and reduce aggregate expenditures withRead MoreThe Contributions Of John Stuart Mill1250 Words   |  5 Pagesof thought also known as Utilitarianism, which highlighted the demand for a scientific foundation for philosophy, as well as a humanist approach to economics politics. It was this foundation from which James Mill urged and advanced his eldest son s education from a very early age. John Stuart studied Greek at age three and Latin at eight, and he was asked to recite everything he had learned to his father every day. John Stuart also studied mathematics and science for his personal enjoyment and

Effects Of The Vietnam War On America - 2038 Words

The Vietnam War is an event in history that resonates through time way past the period of its actual occurrence. Aside from being the only war that the United States has ever lost, the Vietnam War resulted in around 58,000 American deaths, 3 to 4 million Vietnamese deaths, hundreds of millions of U.S. dollars spent, and a nation divided over its purpose and worth. Although the effects of the Vietnam War may not be a common or pressing topic in current times, the Americans who were involved in the war effort are still constantly reminded of its impact. Joseph Orsini, a retired veteran who served in the Air Force during the time of Vietnam, is one of these Americans. Through discussing his experiences in Vietnam, Joseph expressed the challenges that he faced both while abroad and after returning home to the U.S. Although it is not possible to generalize all Vietnam veterans’ encounters of the war with those of Joseph’s, his narrative not only breathes life into the typic al facts seen in history books, but also provides tremendous insight into how the war was shaped by the daily danger presented by the Viet Cong, the surprise attacks of the Tet offensive, and the opposition raised by Americans back home. Joseph Orsini was born on February 27th, 1947 in Newark, NJ, where he grew up with his parents, brother, and a large extended family. Joseph attended both grammar school and high school in Newark; however, since he struggled throughout his educational career, he decided notShow MoreRelatedEffects Of The Vietnam War On America1559 Words   |  7 PagesDoogan America in history 3H, Pd. 8 20 January 2015 Effects of the Vietnam War The Vietnam War is one of the most debatable and controversial wars in U.S. History. To this day people are questioning why we ever entered a war that was over 8,000 miles away. Why would we put our soldiers through such harsh fighting conditions and why would we spend so much money on a war that was not ours? Some people say that U.S. involvement was necessary to help end Communism and important to keep South Vietnam fromRead MoreThe Vietnam War And Its Effects On America2000 Words   |  8 Pagesstallion of equality with triumphant fervor from World War II, the United States of America prioritized the containment of communism as its foreign policy outlined by the Truman Doctrine in 1947. The U.S eventually found itself in the middle of rising communist nations in the Pacific and European theaters. In an increasingly expensive and hopeless effort to prevent communist Ho Chi Minh unifying Vietnam under the red flag of the hammer and sickle, America officially sent troops to the Sou theast Asian nationRead MoreEffects of the Vietnam War on America1293 Words   |  6 PagesThe Vietnam War, from first hand point of thought is where a great deal of the confusion had started in the United States. It was certainly a rough decade during that time period, ranging four presidencies during the war itself with the exception of Harry Truman helping the French in the beginning. When in class we talk about the national approval rating for the American people towards their government and it is surprisingly low, about a quarter of the population. Through first hand interviews ofRead More End of the Vietnam war and effects on america Essay1437 Words   |  6 Pagesnegotiations to end the war to began. Between 1968 and 1969, contacts in Paris between North Vietnam and the United States were expanded to include South Vietnam and the NLF. Under the leadership of President Richard M Nixon, the United States changed its tactics to combine U.S. troop withdrawals with intensified bombing and the invasion of Communist sanctuaries in Cambodia . Due to the length of the war, the high number of U.S. casualties, and the exposure of U.S. involvement in war crimes such as theRead MoreEssay on Vietnam War and Its Effect on America1769 Words   |  8 PagesIn 1965, the United States of America officially enter the war against North Vietnam. After the Gulf of Tonkin incident where North Vietnamese attacked two U.S. ships on August 2nd and 4th, 1964, this event was a chance for U.S. President Lyndon Johnson to give authority for U.S. to enter war in Vietnam. United State involvement in Vietnam War was an approach to seize the communist aggression. A campaign authorized by President Johnson called â€Å"Operation Rolling Thunder† which started on FebruaryRead MoreThe Vietnam War On American Society932 Words   |  4 Pagesaccentuating the growing success and power that Vietnam held. America was calm at first as they held the belief that Vietnam would serve as a barrier to communism. Unfortunately, when communism kept spreadi ng, America panicked. American troops were sent into Vietnam and the citizens of America were lied to about the reason for the presence of the troops in Vietnam. The years 1964 to 1975 were characterized by the negative effects of the Vietnam war on American society and how they heightened socialRead MoreThe United States Involvement During The Vietnam War947 Words   |  4 Pagesthose conflicts have turned out into wars. Looking back at America’s â€Å"track record† with war, America has a worthy past of having its citizen’s support. Obviously the two World Wars we not controversial. The United States in the Korean War was criticized, fairly, for its strategy, but the need to defend South Korea was never questioned. In only the Vietnam War was the United States’ very participation criticized. This is such a gigantic change with prior wars that it bears study as to why it happenedRead MoreThe Vietnam War And The Cold War1494 Words   |  6 Pages When examining the Vietnam War you must first understand the involvement of the events surrounding the Cold War. The ‘Vietnam War’ as it is known is a product of the cold war era, by this I mean that events in the Cold War led to the US’s involvement and creation of issues causing the conflict. â€Å"The Vietnam War was a long, costly armed conflict that pitted the communist regime of North Vietnam and its southern allies, known as the Viet Cong, against South Vietnam and its principal ally, the UnitedRead MoreThe Vietnam War1737 Words   |  7 PagesThe purpose of the Vietnam War, was to end the awful spread of communism. As Ho Chi Minh (North Vietnam’s communist president) fought to which spread North Vietnam’s political uses to Southern Vietnam. With this, the American Military Advisors sought to believe that a fall of Southern Vietnam to communist hands, would then lead to a total takeover of neighboring nations to fall under communism. The eff ect of the neighboring nations falling, was known as the â€Å"Domino Effect†. It all began when TheRead MoreThe Vietnam War Had A Tremendous Effect On The World1415 Words   |  6 PagesThe Vietnam War had a tremendous effect on the world, especially the United States. Not only did the war affect people in battle, but also left permanent effects on people all over the world. Over 57,000 U.S. citizens died and over 140,000 injured in battle. Multiple Americans were impacted by the war, vast amount of people died but more were injured. North Vietnam won the battle against South Vietnam and their allies. The Fall of Saigon in 1975 was the end of a gruesome war. The war had multiple

The Hobbit as a Fantasy Novel free essay sample

The Hobbit is a fantasy novel about a peaceful hobbit that accompanies a wizard and several dwarves on a journey to steal the great treasures of the dragon Smaug and I believe it demonstrates or uses the features of the fantasy genre. The features of any genre are like a skeleton for the story of that particular genre. Different genres have different features such as different settings, characters, plot, themes and values. Features are like a list of criteria that is used to assess whether the novel fits into a genre. The Hobbit is unable to demonstrate the entire features of the fantasy genre but it is still clear that The Hobbit used the features of the fantasy genre as a skeleton. The first thing to consider when determining whether The Hobbit demonstrates the features of the fantasy genre is the setting. The setting is the where the story takes place. Most fantasy stories take place ‘an enclosed world that is often exotic and mystical’ (Glasson, 1955, p. 55). The setting in The Hobbit follows this idea and the world that it takes place is enclosed and exotic. With rows of strange and devious mountains and thick woods where elves and giant spiders live The Hobbit world is definitely exotic; with the abundance of several other creatures and dragons the world of The Hobbit is also quite mystical and magical. The setting of any genre is the fundamental building block for a stories development. For example, it is quite hard to create an interesting science fiction story that is set in the backyard of a young boy. The Hobbit proves that it uses the writing structure of the fantasy genre by being set in a magical land full of exotic creatures and landforms which are the elements of a typical fantasy story. Setting isn’t the only aspect to be considered when writing a fantasy story; there are also characters to be put into consideration. In the fantasy genre there are usually the protagonist and the antagonist that are in conflict with each other. In The Hobbit the protagonist is a simple hobbit, known as Bilbo Baggins, who becomes a thief on a plan to steal treasures. There is no antagonist in The Hobbit. Smaug is not the antagonist because an antagonist is ‘a principal character that opposes the protagonist’. Throughout the book Smaug does not oppose Bilbo Baggins until he is provoked. He is more of an obstacle than a villain opposing Bilbo and his party of dwarves. On the other hand, The Hobbit demonstrates the features of the fantasy genre through the development of Bilbo. Protagonists in fantasy stories are well-known for their development or change. For example, in the book called Eragon the main character transforms from a deer hunting farm boy into a fierce and powerful dragon rider. In the beginning of the book Bilbo defines himself and the hobbits as ‘Plain quiet folk and have no use for adventure† (The Hobbit, p. 4). Throughout the book Bilbo changes into an extroverted and adventure-seeking hobbit through his experiences. Bilbo had changed from a simple hobbit into a fantasy protagonist with that could fulfil the task at hand. Most stories have a diverse range of characters and within these characters are the protagonist and antagonist. Different genres have different personalities or criteria for their main characters. The main character in a fantasy story is usually changing, confident and adventurous. The evidence clearly reveals that The Hobbit demonstrates the features of the fantasy through the knowledge or skills that the hero gains through his quest. Plot and structure is a key feature to the features of the fantasy genre. The plot and structure in the fantasy is quite unique in contrast to the features of other genres. ‘There is calm, upheaval, calm; then stability is restored’ (Glasson, 1955, p. 55) shows the dynamic structure of a fantasy quest. The Hobbit starts off in a peaceful and calm atmosphere until Bilbo joins Gandalf and the fourteen dwarves in an adventure. During his journey the calm atmosphere is disrupted and ‘upheaved’. When the journey ends Bilbo goes back to his normal life, despite his grown love for adventure. Stability is restored at the end of The Hobbit because the arrogant dragon was killed and Bilbo’s returning to his peaceful life after a crazy adventure. The plot in a fantasy story usually centres on the hero’s quest or journey. The quest is usually a search for a powerful or ancient object that will restore the stability or calm that was disrupted by evil. The Hobbit conforms to this by focusing on Bilbo’s journey but the object (treasure) doesn’t restore the calm but instead creates conflict. In The Hobbit Thorin and his cousin nearly declare war but are forced to join in an attempt to stop the Goblin army. With this evidence it is obvious that the quest was not aimed to destroy evil and it even started conflict. The quest in The Hobbit strays from the criteria of a typical fantasy story. Every protagonist in any genre encounters obstacles throughout story but the reasons for these obstacles change depending on the genre. A dramatic story would use obstacles as a method to exemplify the feeling of the character or his/her flaws while a fantasy story would use obstacles as a test for to prove the character is worthy or expedient. For example, Bilbo encounters three trolls and tries to pickpocket an object from one of the trolls but he is discovered and captured in his attempt. This obstacle could’ve been made to show that Bilbo is not yet a master of stealing and how he still needs to improve before his convergence with Smaug. Most of the elements in The Hobbit successfully combine to create a suitable plot and structure for a fantasy novel. The Hobbit doesn’t completely demonstrate the features of a fantasy story mainly due to the themes and values in the story. In a fantasy quest ‘Tradition values are fought for’ (Glasson, 1955, p. 55). Throughout The Hobbit values are not fought for. For example, Bilbo believed in a simple and harmonious life that is adventure free but as he doesn’t fight for what he believes in and ends up accepting Gandalf’s request. Even when delving deeper into the story values are not fought for and some are even broken. There are different opinions on the features of the fantasy genre and how a book fits into a particular genre and it makes it hard to find out whether a book really uses the features as an outline. By using the typical opinion of the criteria or features of a fantasy quest it is quite clear that The Hobbit follows these outlines. The Hobbit is able to include: an enclosed and exotic setting, mystical creatures, characters that learn from their mistakes and flaws, a plot that focuses on a quest for an object and obstacles that test and teach the hero during his quest. Even though The Hobbit doesn’t use the themes and values of a typical fantasy quest but it still utilizes the features of the fantasy genre.

The elements of the marketing mix

Introduction A customer is the backbone of any given company; the main decision that a marketing manager should make determining his company’s market segment. A market segment is a homogenous subset of the main market, which share similar characteristics which make it demand similar goods. A segment is also stimulated by similar innovations. After developing a marketing segment the next step is to develop mechanisms to enable him sell in the target market.Advertising We will write a custom report sample on The elements of the marketing mix specifically for you for only $16.05 $11/page Learn More One of the ways to enter in the target market is marketing mix. An effective marketing mix ensures that goods are available to the target customer, when they need them at and they are affordable (Anctil, 2008). Toyota is the world leading automobile manufacture, its success has been tagged to its strong marketing strategy; it uses 4Ps to market its product s. This paper looks into marketing mix (specifically 4Ps of marketing mix). It will also discuss how Toyota Company has utilized this strategy in its marketing. Concept of 4Ps 4ps concept was developed in 1960 by a marketing expert called E J McCarthy (Mind tools, 2010). The Ps represents Price, product/service, promotion, and place; Price The price of a commodity is an element of total cost plus a profit margin. When a target market has been established, there is need to determine the price affordable to the customers. A marketer should be aware of consumer trends and their potential. The social class that the product is targeted will influence the price of the products. The price parameter can be approached from the actual product price or the possibility that the product can be divided into smaller parts, not necessarily cheap, but to enhance affordability. From a broader point of view the market can be divided into three sections; the high class, the middle class, and the lower class. The high class is not interested on how expensive a product is, but their point of interest is the utility that the product is going to give. When they are buying things they are looking for something extra that can make them feel special and different. To target this group, the product should try to show how it is different from others, the price can be set high since the possibility is ,this group will think that the higher the price the higher the utility. The middle class buy the common goods in the market. When they are the target group, the price should be harmonized with competitor’s prices. When the target is the lower class, price is the determinant of the market, the lower the price the better. The products can be packed in smaller quantities at â€Å"lower prices†. Understanding of the market segment is thus crucial.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Place The market segment that the marketer want to target, will influence the distribution that he is going to use. Where the customer is more likely to be found should be the place that the goods are provided. If the target customers are people who value recognition, most of them are in the high class, they are more likely to be found in the shopping malls and â€Å"designer† shops. The products should be displayed on these stalls. The possibility that these kind of client will be in the back street shops is unlikely and thus the products should not be there. The common market is also a place that they are unlikely to go. If the products are targeting the lower class, they should be distributed in the supermarkets that are expected to be less expensive than the shopping mall. There are also some places that are regarded to be the high class estates. These are found in the areas that people of a certain class live. If the target is the low class the goods should be ava ilable in the local slum and suburbs’ shops. If the target is for the middle class place products where the competitor products are, the focus should be more on strategies to persuade them. The middle class are known to be looking for something extra at the same price. There will be no harm if the products are distributed in the competitors area; efforts should be the way we display what we are offering extra (NetMBA.com, 2010). Promotion Promotions are done in the effort to either introduce a new product or increase the market segment. To engage in a promotion, the first thing to understand is the availability of the target customers. Where are they likely to be found? Are they free in the mornings, is it in the afternoon? After realizing their availability and when they can give you time, and know the age of the market. The promotion for the youth should be designed to target the youth. The behavior of the youth is that they don’t want something that feels so common, let the promotion give a different good-feel on the customer. If the promotion focus on introducing a new product, then a lot should be invested in assuring the client of better quality than what is offered by the competitor. The existence of opinion leaders should be evaluated. Customers are likely to follow the opinion leaders in making their decisions. The existence of groups in the society and their matching lifestyles can also be of great use. If the promotion is for an already existing product in the market, the approach should be from the angle that we are thanking our customers. If the customer feel appreciated and recognized he will develop loyalty and influence other to follow his way. Product When a company is developing a product, there is a need that the product is supposed to fulfill. The higher the utility the customer gets, the higher the demand for the product.Advertising We will write a custom report sample on The elements of the marketing mix specifically fo r you for only $16.05 $11/page Learn More When products are developed, the team should always invest in offering something extra to the consumer. If target customers are aware of the expected ingredients, the campaigns should have a lot of emphasis in the ingredient used. On the other hand, if the customers are not much interested in the ingredients, or they even are not aware of the ingredients, the focus should be the outcome that the product will give. The marketing campaigns should explain to the customer what benefit he will derive from using the goods. What does the target customers expect, what are they likely to be moved by? What is the age of the target customer? If the target customer are children- by extension the parents, the products should have attractive bright colors that are more likely to attract children. If the target markets are the youth, then the fashion should be of emphasis. Packaging should gives a sense of superiority to the produc t. The youth will always want to have a better product than their peers. Effort should be made to ensure that the product is portrayed to give the impression of superiority. The language on the product packaging should be targeted at the desired group age. If the prices have reduced and are lower than the market prices, it is important to include them on the package. In all the marketing of the products whether they are target to the high class, middle class, low class, the old, and the youth, the marketer should assure the customers of the availability of the products at all times (See appendix 1). Understanding the target market segment cannot be overlooked (Anctil, 2008). The case of Toyota Company Toyota was incorporated in 1937 in Japan by Kiichiro Toyoda; it has grown to be the world number one automobile provider. It assumed the number one automobile producer in 2008 after it surpassed general motors. The company operates on a five principal policy; Kaizen (continuo’s improvement), teamwork, Challenges, Respect and Genchi Genbutsu (go and see). Alongside these policies the company has a strong marketing strategy. Let’s examine how it markets its products; The company has two market segmentation; they are developed and developing countries. Its products are designed to meet the needs of the various markets. One of the ways that it has adopted is a continuous improvement of its products. There is a research department that has the aim of undertaking its policy of Genchi Genbutsu (go and see). The section is supposed to survey the market and come up with various recommendations that are aimed at improve the company’s services.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As it conducted this duty, the issue of technology came up and the company had to implement the change. Other than just implementing it started a long term policy to ensure that there is continuity in the works. The company’s first car was a high fuel consuming passenger car called A1 and G1. The vehicles were manually modeled. Today, the numerous models in the market are as a result of computer aided modeling. All along we are hearing of Toyota X new model. This shows how they have continually improved their products to remain competitive in the world. Secondly, another area that the company has improved is on the fuel consumption in the vehicles. This has been ongoing and in 1980s it saw the company get Japanese Quality Control award, this was due to the rewarding innovations especially in the fuel section that the company had gotten. On the same angle in 1973, during world fuel crisis, the company was able to penetrate the American market when Americans preferred automobil es from the company due to its low fuel consumption. All the above are not coming to the company as mere luck but are deliberate planning and organizing of the available physical and human resources. A lot more that the company intend to bring are the electric automobiles that are on testing stage (Hino, 2006). When it comes to price, there are different models which cost differently depending with the target customer. In developing countries where it is considered to have a market that require less expensive good, the company has engaged in what is referred to as Custom Bonded Factories; these are factories placed in less developed countries and receives CKDs (completely Knocked Down) parts from Toyota and assemble them into a complete automobile. This takes the benefit of low labor thus the products can be sold in their country of assembly at a lower price. On the other hand, these are government and Toyota programs so there are arrangements made to reduce taxes on these CKDs, thi s makes them even cheaper and affordable (See appendix 2). The product is advertised in the individual countries according to the capability of the customer there. There is an also â€Å"door to door† promotion where the company approach companies, governments, corporate bodies and offer the products that they have that can meet the need of the customer. In case the company does not have a full order in their warehouse, the policies of the company allows for the neighboring country to export to the country of deficit. All Toyota branches are located in city centers where they are likely to tap the greatest number of customers (CIOinsight, 2004). Conclusion A customer is the backbone of a company; the main decision that a marketing manager should make determining his company’s market segment. One of the ways to enter in the target market is marketing mix. The 4Ps represent Price, product/service, promotion, and place. An effective marketing ensures that goods are availa ble to the target customer, when they need them at and they are affordable. Toyota is one of the companies that have benefited from using the strategy. It manufactures different models which costs differently and makes them available to target customers. Reference List Anctil, E. (2008). Marketing and Advertising the Intangible. ASHE Higher Education Report, 34(2), 31-47. Retrieved from Academic Search Complete database. CIOinsight. (2004). Toyota’s Business Intelligence: Oh! What a Feeling. Page 3-4. Web. Hino, S. (2006). Inside the mind of Toyota: management principles for enduring growth. Tokyo: Productivity Press. Mind tools. (2010). Marketing Mix and 4Ps. Web. NetMBA.com. (2010). The Marketing Mix (4Ps of marketing). Web. Appendixes Appendix 1 A marketing mix diagram Appendix 2 A marketing mix used by Toyota (Hino, 2006) This report on The elements of the marketing mix was written and submitted by user Alexia S. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.