Persuasive Essay On Poverty - 1875 Words

Alex Nielson Professor Belk English 2010-H12 18 September 2017 Poverty: Choice or Lack of? All throughout my life, I have been constantly reminded by my parents, teachers, and by various other authority figures to always make sure I am making good, educated choices in everything I do. Actually, that s not completely true. I wasn t just reminded to make good decisions, I was, and still am, expected to make good decisions. I was taught that my choices would determine where I ended up in life. Every choice has a consequence, whether good or bad, and I was to be held accountable for those consequences- whatever they may be- whether I liked it or not. I couldn t blame them on anyone, or anything else if something bad happened, because†¦show more content†¦In other words, when you are broke, you are down at the bottom of a pit, but you re not completely stuck. There are other items down there with you. You have the choice whether you want to give up and stay there, or use what you have to find a way out. You have the resources and knowledge with which you can build a la dder, climb out of that pit, and start living again. It s your choice. Being in poverty, on the other hand, is being stuck, really stuck, in the bottom of that pit, completely alone, with absolutely no way out- with the slight exception of an immense amount of outside help, which, sadly, will likely never come. It’s not your choice. It is the inability to provide, for yourself or your family, any of your most basic needs because you are deprived of the necessary access to education, resources, and the right opportunities- all of which are needed to allow you to rise above the impoverished situation you are in. Poverty, as Nate Pyle muses in Making Poverty a Choice, doesn t come from a series of choices, but rather a lack of choices. Look at it this way. If you are rich, you have a multiplicity of choices available to you. Should we go to Paris this summer or Italy? Which Ivy League school do I want to pay for my kids to go to? Do we want a new yacht or another countryside estate? Whatever choice you make, you don t have to fight for it, it is readily available for you. The further down the ladder you go, the fewerShow MoreRelatedPersuasive Essay On Poverty1454 Words   |  6 PagesThe definition and viewing of poverty is a topic that many find highly debatable and close to the heart. Poverty is what most people see as not having enough to live on, and struggling to get anything more. Race and location are often looked at in conjunction to poverty. The author of the first article, McMillian, focuses on redefining poverty to a general audience by limiting her word choice and choosing a more personal appeal to the intended audience. In the other article, the authors Fram, Miller-CribbsRead MorePersuasive Essay On Poverty785 Words   |  4 PagesPoverty is increasingly becoming a global problem. More people living in first world countries have become aware of the poverty in many third world countries. Recently, governments have been debating on whether we should provide aid to these countries or not. Although aid supporters claim that our help will c ompletely revolutionize the situation in third world countries, the truth is that we do not know the full situation of these people and most of the donation attempts do not actually help. FirstRead MorePersuasive Essay On Poverty1117 Words   |  5 PagesEvery Child Deserves the Education They Desire In her inspiring speech, â€Å"How America’s Public Schools Keep Kids in Poverty,† Kandace Sumner portrays the problem being distributed throughout the public schools of America with the inequality being dispersed to colored children as well as low-income societies to the public schools, parents of children, and the overall communities. As a teacher and mother of colored kids, Sumner is more aware of the unfair issue occurring throughout the public schoolRead MorePersuasive Essay : Success Life Comes When You And The Brink Of Poverty 1240 Words   |  5 Pagesperson opens their minds to a whole new world of possibilities. They can take what they have learned from a person or animal, and influence their own life in a positive way. For example: a book written about an Olympian who rose from the brink of poverty, can show a reader that things will, at one point, look up and life will get better. Melba Pattillo Beals, a member of the Little Rock Nine, found the stren gth within herself to endure seemingly endless strife to improve the lives of future generationsRead Moreminimum wage1601 Words   |  7 Pagesminimum wage on businesses in hope for reduced poverty and increasePremium 1355 Words 6 Pages Should Minimum Wage Increase? Should Minimum Wage Increase? I have many reasons why I do not think minimum wage needs to increase at this time. We need to look at the reasons for minimum wage. We must look at the amount of time the current minimum wage has been in effect. The affect on the economy needs to be well...Premium 892 Words 4 Pages Persuasive Research on Minimum Wage ï » ¿Lee Prutsman Sarah HannawayRead MoreEssay on The Persuasive Text 836 Words   |  4 PagesThe purpose of a persuasive text is to change or alter the viewpoint of the reader for it to agree with the author’s perspective. The intention of this specific text is to persuade the reader to help end poverty today by joining ‘Make Poverty History’ and it uses persuasive language and techniques to do this – this essay will explain the effect on the reader and will focus on analysing persuasive language. Pronouns are an effective persuasive language technique because they address the reader directlyRead MoreEssay about Persuasive Speech: The Benefits of Volunteering1127 Words   |  5 Pagesproblems in our community that affect many people. II. Body A. Main Point: The problems in our community are great and affect us all in one way or another. Internal Preview: Increases in poverty are causing many community issues. 1. Supporting Material: There are families that are living in poverty in our community that have significant needs that need to be addressed. a. According to the CDC, there has been a steady increase in preventable childhood diseases. b. Many of these childrenRead MoreClassic Principal of Argument Essay example891 Words   |  4 Pageseffective. The logics and reasoning in an essay forms effectiveness based on information gathered from other sources (Dlugan, 2010). In the essay, â€Å"What the Water Revealed† written by Jim Wallis, uses his persuasiveness by, including all three appeals of the classical principles of argument. Willis implies the use of ethos, pathos, and logos to convey a convincing argument as it relates to the realities on poverty and race in America and today’s society. The essay reveals Jim Willis’ ethos argumentRead MoreWal Mart : A Necessary Evil? Essay975 Words   |  4 PagesWal-Mart: A Necessary Evil? It does not take a large amount of funding and private studies to see that Wal-Mart is a widely successful corporation that offers cheaper prices than their competitors. In Jack and Suzy Welch’s essay they argue that we should support businesses that help individuals, communities and whole economies prosper, they claim that, â€Å"Wal-Mart helps individuals, communities, and whole economies prosper† (161), so we should support Wal-Mart. On the other hand, Paul Krugman arguesRead MoreAnalysis of â€Å"The Singer Solution To World Poverty† Essay693 Words   |  3 Pagesï » ¿A Critique For â€Å"The Singer Solution To World Poverty† In the essay â€Å"The Singer Solution to World Poverty,† philosopher Peter Singer addresses the issue of poverty by suggesting Americans give away most of their income to aid those in need. Singer believes that withholding income is the equivalence of letting a child starve to death. Therefore, Singer suggests the ethical thing to do to end world hunger is to give up everyday luxuries. Although donating a vast amount of money could help dying

Excise Taxes On Cigarette Consumption - 1971 Words

One of the most prominent crops grown in the United States is tobacco. It has been grown and cultivated in the eastern portion of the United States since before this country’s conception. As a result, it was also one of the first goods to be taxed after the conception of this country. This tax would be the first excise tax that was introduced in the United States. It came as a portion of a tax package proposed in 1974 by the Secretary of the Treasury Alexander Hamilton. Since then, taxes on tobacco have come, gone, risen, and lowered. However, the reasoning behind the taxation changed from increasing government revenue to deterring consumption with the publication of the 1964 U.S. Surgeon General’s Report on Smoking and Health. In this report, the U.S. Surgeon General established that cigarette smoking is, â€Å"a cause of lung cancer and laryngeal cancer in men, a probable cause of lung cancer in woman, and the most important cause of chronic bronchitis. The p roposed paper will investigate the relevancy of excise taxes on cigarette consumption, the act of cigarette consumption, and the most prominent method used to lower it by the U.S. government. This method called an excise tax, or informally a sin tax, is a tax issued by the government to be built into the price of a good or service to dissuade consumption. Through analyzing the data and experiments of top contributors to this subject, one will perceive how this method impacts cigarette consumption, if at all, andShow MoreRelatedHealth Risks Vs. Economics Of Tobacco Consumption1614 Words   |  7 PagesAbstract The purpose of this paper is to provide researched information on the how consumers continue to risk their health through the consumption of cigarettes regardless of hazard warnings and how the government continues to implement increased taxation to economically affect those consumers. In today’s society, there are many more consumers that are becoming health conscious compared to consumers of decades before, but there are still those that are addicted to tobacco products making it moreRead MoreEffect Of The Taxation System On China s Tobacco Industry870 Words   |  4 Pagesthe taxation system, majority of the taxes goes to the central government while revenue from some tax categories is shared with the local government. This revenue-sharing setting guarantees that the financial incentive of local government is aligned with that of the central government. Specifically in the tobacco industry, there are two levels of taxes collected ï ¿ ¼! 10! corresponding to the two stages of cigarette production, a tobacco leaf tax and a cigarette tax. Despite that tobacco leaf belongsRead MoreLoss Of Government Revenue From Tobacco Taxes791 Words   |  4 Pagestobacco taxes. According to a September 2013 report by the International Tax and Investment Center and Oxford Economics (ITIC-OE), In 2011, the Legal Domestic Sales of cigarettes fell by 80.6%, from 308 million cigarettes in 2010, to just 60 million cigarettes a year after the tax increase. Total Consumption (legal and illicit) is estimated at 317.9 million cigarettes in 2013, down 9.5% from 2012. However, only 2.4% or 7.7 million cigarettes constitute Legal Cigarettes Consumption. In 2013, excise taxRead MoreAnalysis Of Raising Taxes On Alcohol And Tobacco1055 Words   |  4 PagesProblems with Raising Taxes on Alcohol and Tobacco: One of the major issues in the United States is healthcare insurance that has attracted huge debates and concerns among the policymakers and the public. Given the severity of this issue, policymakers and other stakeholders have been involved in efforts to identify the most effective measure to provide health insurance coverage to all. These attempts have been led to the consideration of increase in taxes on alcohol and tobacco products by theRead MoreUpdate the Recurring Sin Tax Law that Was Newly Implemented by Benigno Aquino3046 Words   |  12 Pagesfield. In belief, the purpose of the imposition of excise tax on sin products is to raise revenues and discouraging the consumption of the tobacco products and alcoholic beverages. It is claimed that higher excise taxes on tobacco will make some smokers to quit, and reduce consumption of continuing smokers, and prevent others from starting (Sunley, 2009). Because the demand for cigarettes is relatively price inelastic, the expectation is that higher taxes will yield higher revenues in the near term whileRead MoreHow The Cigarette Industry Affects Society With Disease And Reduces Social Economic Welfare1142 Words   |  5 PagesThe cigarette industry is known to cause market failure. It burdens society with disease and reduces social economic welfare. These negative externalities are thought to far outweigh any economic benefits that the industry yields (Guhl Hughes n.d). To combat this, governments implement indirect taxes with the aim of reducing the number of smokers. Evidence shows th at this has been the most effective means of reducing demand for cigarettes (Cotter, Dunclop Perez 2011). In the context of the competitiveRead MoreAnalysis of an Excise Duty: the Policy of Tobacco Taxes in Germany4204 Words   |  17 PagesDaniel Strà ¶bel - Analysis of an excise duty: The policy of tobacco taxes in Germany Analysis of an excise duty The policy of tobacco taxes in Germany Master of Business Administration (MBA) Module: Assignment: Course Instructor: Economics 1/2 Dr.rer.pol. Markus Wilhelm Author: Daniel Strà ¶bel 1 Daniel Strà ¶bel - Analysis of an excise duty: The policy of tobacco taxes in Germany Executive Summary Aim of this work is to analyse tobacco tax in Germany and find out under whichRead MoreEssay about Sin Taxes5069 Words   |  21 PagesPOLS 5440 Principles and Processes of Government Budgeting | Sin Taxes, Good or Bad? | An Examination of the Use of Sin Taxes in the United States | By: Stacy Madden4/27/2012 | Executive Summary Historically sin taxes have been an effective and efficient way for the government to raise revenue. The federal government used tariffs and consumption taxes to generate almost all of its revenue in the early years of our nation. The tax structure and philosophy has evolved and changedRead MoreIntroduction. Tobacco Use Throughout The United States1254 Words   |  6 PagesWashington Duke of North Carolina hand-rolled his cigarettes and sold them at the end of the Civil War, this was the beginning of the commercial cigarette era (healthliteracy.org). In 1881, 16 years after Duke began the commercial cigarette, James Bonsack invented the cigarette-making machine with the help of Duke’s son, James. The production of Bonsack’s machine could produce about 120,000 cigarettes a day (healthliteracy.org). This was the moment when cigarette smoking became a widespread epidemic andRead MoreResearch Paper On Taxes1613 Words   |  7 Pages Are taxes an effective method of changing health behavior? Anette Hooper November 11, 2017 Abstract Policymakers have identified an opportunity to modify individual negative health behaviors by increasing the financial burden of those behaviors through the imposition of sales tax on consumer products deemed harmful to the public. Research supports the ability of health taxes to encourage consumer transition from the precontemplation stage to action towards cessation

Accounting Is Dubbed “Language” of Business Activities Free Essays

Essential link in objectives of business —–‘Accounting is dubbed â€Å"language† of business activities conducted by firms as it is used to communicate business transactions per se to all stakeholders’ According to Weygand, Kieso and Kimmel (2012, p. 4), the main purpose of accounting is consists of three basic activities, identifying, recording and communicating the business events by users. These three activities help the firm to operate the business to make decision be meaningful. We will write a custom essay sample on Accounting Is Dubbed â€Å"Language† of Business Activities or any similar topic only for you Order Now Business has closely connection when doing transaction with their stakeholders by using the accounting, in order to make maximize profits. Role of firm Firm (also known as business or enterprise) is an organization involved trade goods and services to consumers. Business use different models and plans to figure out their target and outcome, in order to achieve organizational goal and achieve sufficient profit to finance our company growth, which create value and wealth for our shareholders. There are three forms of ownership, proprietorship, partnership and corporation. Every type of business receives different targets and objectives; it is because the employer or shareholder is taking different level of risk and responsible. Each organization’s employer sets its objectives to overcome difficulties. It relates to produce in different firms with different types products and how to satisfied their consumer, such as restaurant produce well-prepared food to hungry customers and cars factory fabrication and assembly of cars to produce in high-quality to buyers. Therefore, the method used or issued meet should be different. Each type of business system will meet different levels of target. The objective, however, is quite similar to each other. As Edmonds, McNair and Olds (2006, p. ) mentioned, in most cases, the companies aim to satisfy consumer preferences efficiently (at lowest cost) and aftermath with higher earnings. During business transaction, the main purpose for firms is to obtain maximize profits and the buyers to pay at least amount of money. Otherwise, the loss will lead firms be bankrupt and result in unemployment rate increased. Business Transactions Business transactions are recording the business’s economic events by accountant. The economic events such as transaction are passing through accounting process of organization to users. The accountant records the transaction when the financial position (assets, liabilities or equity) of the company changed. In addition, the accounting equation must include the transactions, two or more items, which have dual effect and could be affected. There are two types of transactions which called external and internal. External transaction is record business events between the company and some outside enterprise. For example, LMS pizza shop purchases of cooking machine (equipment) from a supplier, and then sale the piazzas to customers are related to external transactions. Different to external transaction, internal transactions are economic events that occur all within one company. The use of cooking and washing machine (supplies) are internal transactions for this company. However, the company must analyze each event to illustrate if it affects the components of the accounting equation. For example, the company ordered additional films at $1000. This event will not be record. In the reason, the company’s financial position does not change during this activity. But if there is deposit that company needs to pay. Then the accountant should record this transaction. The accountant has ability to decide which transaction should be record. Determine the Value changing International Financial Reporting Standards (IFRS) companies can apply fair value to property, plant, equipment and natural resources. The companies can sell the assets to fair value at the reporting data. If revaluation is used, business needs to follow the revaluation procedures. Assets that are experiencing rapid price changes must be revalued on an annual basis. Otherwise, less frequent revaluation is acceptable. However, most companies choose to remain the original cost they paid instead to revalue. It is faithful to represent the fair value and the negative effects on the net income. Business should evaluate the faithful representation and relevance of trades-off in any case and determine the importance that the company considered at. To illustrate asset revaluation accounting, assume that an organization called as LMS pizza shop, they purchased the used machine to making pizza for $10,000 on March 11, 2013. But at the end of May 2013, the cooking machine is increased its wealth value to $13,000. At this time, the accountant has two decisions to record this value changed. One is to revalue the price and another one is to keep it remains the same. However, this action should consider by the company own perspective. It is because the revaluation is affecting the net income. In the short summary, if it is the case that the value falls, the company gets positive effects on the net income. Otherwise, the company obtains negative effects on the net income. Finally, the company can fetch a higher price if sold the assets at the reporting date. Essential link in objectives of business Target as the core of growth for companies. During operation, companies have many decision-makings, like which firm is better to award of contract and which firm can bring most benefits. These decisions are related to company’s benefit (profit), which are the business objectives. This is because the business objectives are the main purpose for running business to obtain maximum profit at lowest cost. The statement is more clearly to anyone, even who outside the organization. It is benefit for everyone to use the information of financial accounting. Especially is for investors, creditors and other external users. That is all of the fundament about financial accounting. According to IFRS, there are two measurement principles they usually use, the historical cost principle or the fair value principle. By using these two principles, company can clearly be seen in the earning profit or loss. According to Williams, financial accounting is wide range uses in the business community nowadays (Williams et. al, 2011). Any decisions that the business makes need to concern about all of three activities in accounting quation. The companies all predicate of the objectives that is bringing as much as profit to them. Summary Accounting as a major indicator for simply convenient operation and shorten the time to achieve company’s goals. It is not only a kind of business language, but also a tool for measuring the target for company. As a business tool, it help employer to narrow the distance with all stakeholders in any transactions, henc e to help achievement of objective and then obtain higher rate of return in anytime. Words: 1068 Reference * Weygandt, J, Kieso, E Kimmel, D (2012), Financial Accounting (IFRS edition). WILEY. USA * Edmonds, T, Edmonds, C, McNair, F Olds, P, (2006), Fundamental Financial Accounting Concepts (5th edition) McGraw-Hill Companies, Inc. New York * Williams, Haka, Bettner, and Carcello (2011), Financial Accounting: Including IFRS, Financial Accounting (Fourteenth Edition, McGraw-Hill Companies, Inc. New York * International Accounting Standards Board (IASB), retrieved from http://www. iasb. org/ How to cite Accounting Is Dubbed â€Å"Language† of Business Activities, Essay examples

Marketing Fundamentals New Product in the Australian Market

Question: Discuss about theMarketing Fundamentals for New Product in the Australian Market. Answer: Introduction The report deals with the launch of a new product in the Australian market. The new product is the GRO Luggage. The new product is quite suitable to make an entry in the market of Australia. The senior management has decided the marketing strategy, marketing objectives and the actions that the company needs to take to launch the product successfully in the market of Australia. The report highlights all these aspects, which the senior management of the company will take care of. Marketing Objectives The senior management of the company launching the new product GRO Luggage is well aware of the fact that the launch and promotional procedure of the new product in the market would be an expensive affair. The revenue that the new product would generate in the first few months would not be at par with the launching expenses of the new product. Hence, the company adopts certain marketing objectives that will reflect what the company wants and expects after the launch of the new product (Flammer, 2015). The following are some of the marketing objectives, which the company has in their mind before launching the new product. The management should make the product GRO Luggage available to important people and company who affect the market. The company should also try to push their products to influential bloggers who can use and promote their product online. The company should encourage these people to use their products and write a review about the quality of the product. The company should make the new product available to the industry analysts also during the early phases of the product launch. The management of the company should hold meetings with these people before launching their product as this would boost the promotion of the new product. The company can involve other marketing and channel partners who can boost the success of the launch of the new product. As more people will get to use the new product they would talk more about the product. This would result in the financial gain of the company from the product (Ross, 2013). These marketing objectives, which the company has during the launch of the new product, are very much achievable as well as measurable and specific. If the company can follow these objectives, religiously they will have a successful launch of their product into the market of Australia. Market Segmentation, Target Customers and Positioning of the Product Some of the most important things, which the company should keep in their minds while launching the new product GRO Luggage into the markets of Australia, include the segmentation of the market. Then the company should identify their target customers in the market and should be able to position their new product in the minds of the target customers of the segmented market. If the company can successfully follow the above-mentioned steps after the launch of the new product, the product may generate huge revenue in the market (Cross, et al., 2015). In today's world, most of the companies have customer-oriented objectives. Hence, the companies tend to segment the market into manageable parts keeping the needs of the customers in mind. This process is termed as market segmentation (Pearce Doh, 2012). There are different types of customers in the market. The company intends to reach all the customers of different tastes and preferences. Hence, they break the market into small segments comprising of certain common characteristic. Marketing can be converted to a science with the help of segmentation of the market. Segmentation of the market is done keeping in mind the lifestyle of the customers, age of the customers are taken on the basis of some other factors such as their daily need of the product. Some of the benefits of the segmentation of the market, which the company will get, are the effective use of resources. The product will be able to create value in the target market of the company due to segmentation. The product will gain focus in the market due to segmentation (Qu, et al., 2015). The next step that the company should follow is to identify the target customers for the product. The senior management of the company needs to have a clear and concise idea of their target customers before introducing the new product into the markets of Australia. If the company have a clear idea of their target customer, then they will be able to choose the proper and correct marketing mix. The company can advertise and promote their product in the best possible way. The company can put the product in the most appropriate form to their target customer. The main target customers of the company include people of different age groups such as youths and kids and different professions such as homemakers, office goers, etc (Wedel Kamakura, 2012). The next step, which the company should follow for the successful launch of the new product, includes the positioning of the product in the minds of the target customers. The positioning of the product in the proper segments of the market is a crucial step that affects the purchase and sale of the product. By positioning the new product properly, the management of the company gets a chance to influence the perception that the customers have of the product. Proper positioning of the product includes differentiating the product from the products of rival firms, articulate and management of important product characteristics and address vital buying criteria of customers (Dolnicar, et al., 2013). Product and Pricing Strategy Introducing the new product GRO Luggage in the markets of Australia is a significant achievement of the company. Appropriate product and pricing strategies of the product launched would help to improve the revenue generated by the product. Proper product strategies can help and direct the product managers of the company to properly communicate the value of the products to the important stakeholders of the company. Knowing the value of the product the stakeholders of the company get the idea whether the product would meet the objectives of the business. The product strategy can be defined as the foundation and basis of the lifecycle of the product and the execution of further development plan of the product (Battistini, et al., 2013). The product strategy mainly consists of the three components: Vision, Goals, Initiatives The company should have a proper vision of who the target customers are, and what are their needs. The company should have proper planning for delivering unique products to its customers. The vision also includes a competitive analysis of the market and a plan for the go-to-market. The goals of the company can be short-term as well as long-term goals. Few of such goals of the company includes search new markets for their product in the domestic territory or outside the country or to increase the revenue by at least 10% to 20% in a short span of time say six months. The company needs to take the initiative to achieve the above mentioned goals. Some of the efforts that the company can make to realize their goals are to improve the quality of the product or to produce more units of the product in the market in the near future say within a span of 6 months (Stanford, 2014). Another important aspect, which the management of the company needs to keep in their minds while launching their product in the market of Australia, is the price of the product. The price of the product affects the profit, which the company would earn from the sale of that product to its target customers (Bulmu, et al., 2014). If the company sets a very low price for the product the revenue that the product will generate will be very low. If the company sets the price of the product at a very high level, then it will reduce the sale of the product in the market of Australia. Hence, the company should set the price of the product keeping in mind the demand and supply of the product. The company should also keep track of the segments of the market for which they are producing and the demands of their target customers. All these important factors would affect the pricing strategy of the company to launch the new product in the markets of Australia (Chernenko Sunderam, 2012). Placement and Promotional Strategy The company can earn huge profit from the new product, which it intends to launch in the market of Australia only if it pays serious attention to the proper distribution and promotional strategies of the product. Nowadays products are easily available to the hands of the customers both in stores as well as on the internet. The company should produce the units of the product and should distribute and channelize them to the stores selling the product throughout the country. From these stores, the target customers of the company can easily access the product in their desired quantity from these stores. Another outlet for the sale of the product is the online stores and websites. The target customers can easily avail the product sitting in their homes or their office. To meet the demands of the target customer, the company should provide a high level of customer service (Meyer Shankar, 2016). The quality of the product, which the company produces, should be very high and way ahead of th e products that the rival firms produce. There should not be a shortage of supply of the product on the part of the company, as this would have a negative impact on the customer satisfaction level. The company should provide the accessibility of the product to its customers in the most cost-effective manner. This would help increase the profit earned by the company if the cost of production is low. Another important placement strategy, which the company should adopt, includes the proper storage of the product so that they can reach the hands of the customers at the proper time and in good condition. The company should invest a part of its capital in the proper storage and transportation of the products (Wu, 2012). The next important aspect, which the management should take care after the launch of the product in the market, is a good and cost-efficient strategy for promoting the product. Promotion of new products is necessary to create loyalty of the brand, to increase the sale of the product and to position the product in the minds and hands of the customers. The company can adopt some promotional strategies that include online marketing and advertising the product, personal selling, and sponsorship. Following these promotional strategies the company can reach its products to the hands of the broader public and to its target customers. The company should also keep in mind the cost-effectiveness of these strategies. The cost of promotion of the product should not be very high compared to the production cost (Hollensen, 2015). Action Programs The company should plan the course of actions that it would follow the launch of the product GRO Luggage in the market of Australia. A list of action programs is very important for the smooth, time saving and cost effective production levels of the company. Action programs may have goals for the short, long or medium duration (Becerra, et al., 2013). In this case, the company should set goals for the next six months after the launch of the product. First, the company should allocate tasks to different people involved in the production process. Secondly, they should specify the time duration for the completion of the process. Thirdly the company should estimate the cost for completion of the specific activities involved in the production process such as pricing strategies, distribution, and promotion of the product, etc. Finally, the management department of the company should see to it that the action programs are strictly followed. Conclusion The report clearly describes all the important aspects that the company should take care of before and after the launch of the new product GRO Luggage in the market of Australia. The report highlights the marketing objectives and market segmentation adopted by the company. The report also describes the product and pricing strategies of the company, along with the distributions and promotions. The report also throws light on the short term action plans adopted by the company after the launch of the product. References: Battistini, N., Pagano, M., Simonelli, S. (2013).Systemic risk and home bias in the euro area(No. 494). Directorate General Economic and Financial Affairs (DG ECFIN), European Commission. Becerra, M., Santal, J., Silva, R. (2013). Being better vs. being different: Differentiation, competition, and pricing strategies in the Spanish hotel industry.Tourism Management,34, 71-79. Bulmu, S. C., Zhu, S. X., Teunter, R. H. (2014). Optimal core acquisition and pricing strategies for hybrid manufacturing and remanufacturing systems.International Journal of Production Research,52(22), 6627-6641. Chernenko, S., Sunderam, A. (2012). The real consequences of market segmentation.Review of Financial Studies,25(7), 2041-2069. Cross, J. C., Belich, T. J., Rudelius, W. (2015). How marketing managers use market segmentation: an exploratory study. InProceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference(pp. 531-536). Springer International Publishing. Dolnicar, S., Grn, B., Leisch, F., Schmidt, K. (2013). Required sample sizes for data-driven market segmentation analyses in tourism.Journal of Travel Research, 0047287513496475. Flammer, C. (2015). Does product market competition foster corporate social responsibility? Evidence from trade liberalization.Strategic Management Journal,36(10), 1469-1485. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Meyer, J., Shankar, V. (2016). Pricing Strategies for Hybrid Bundles: Analytical Model and Insights.Journal of Retailing. Pearce, J. A., Doh, J. P. (2012). The high impact of collaborative social initiatives.Sloan Management Review,46(2). Qu, W., Ee, M. S., Liu, L., Wise, V., Carey, P. (2015). Corporate governance and quality of forward-looking information: Evidence from the Chinese stock market.Asian Review of Accounting,23(1), 39-67. Ross, D. F. (2013).Competing through supply chain management: creating market-winning strategies through supply chain partnerships. Springer Science Business Media. Stanford, D. J. (2014). Reducing visitor car use in a protected area: a market segmentation approach to achieving behaviour change.Journal of Sustainable Tourism,22(4), 666-683. Wedel, M., Kamakura, W. A. (2012).Market segmentation: Conceptual and methodological foundations(Vol. 8). Springer Science Business Media. Wu, C. H. (2012). Product-design and pricing strategies with remanufacturing.European Journal of Operational Research,222(2), 204-215.