Concept of Demand in Managerial Economics Samples for Students

Question: Examine about the Chocolate Makers Fight a Melting Supply of Cocoa. Answer: Chocolate Makers Fight a Melting Supply of Cocoa A year ago, chocolate producers experienced strain to fulfill the expanding interest for chocolate from everywhere throughout the world. In the article, Chocolate Makers Fight a Melting Supply of Cocoa one can recognize the ideas of interest and flexibly for cocoa as the principle financial wonders in the article. Basically, this piece reports that the interest for cocoa and chocolate has expanded considerably in the ongoing past (Wexler, 2016). Then again, the gracefully of the ware has been decreasing in the course of recent years. Thus, this has prompted generous increments in the cost of cocoa and related items regardless of general reductions in the cost of different wares on the planet advertise. On a very basic level, the powers of interest and gracefully cooperate to impact the general costs of the item in the market. Given the decreasing flexibly of the item, chocolate makers, for example, Mondelez have played a functioning job to help the efficiency of cocoa ranches in Ghana so as to make sure about a consistent gracefully later on (Wexler, 2016). Extraordinarily, the cocoa makers put aside one billion US dollars to help support the efficiency of cocoa ranchers and increment their yield (Wexler, 2016). Essentially, this will accomplished through expanding ranchers data about gainful cultivating rehearses. Thusly, this is required to make a harmony between the interest and flexibly of the item on the planet showcase. The Concept of Demand The idea of interest is a basic part of financial aspects. Basically, it relates to the connection between the costs of a help or great and the measures of the item that shoppers are capable, willing and prepared to buy at a given value (Moffatt, 2016). Basically, the particular amount wanted for an item at a specific cost is the amount request (Demand, 2016). It is imperative that the interest for chocolate has been expanding significantly in the ongoing past. For the most part, one can credit this to the way that the quantity of shoppers in India and China has expanded (Wexler, 2016). Dominatingly, buyers want to devour bars and bonbons which were at first viewed as costly and unreasonably expensive extravagances has expanded in the ongoing past. As indicated by an examination directed by Euromonitor International, the worldwide interest for chocolate rose by roughly 0.6 percent (Wexler, 2016). All the more exactly, the interest for the item was evaluated at 7.1 million tons as at 2015 (Wexler, 2016). Naturally, this expansion sought after was most noteworthy in Asia, which encountered an upsurge popular by about 5.9 percent (Wexler, 2016). Graphical delineation of the interest for chocolate as at 2015 Source: (Moffatt, 2016). Idea of Supply Much the same as request, the idea of gracefully is a fundamental wonder in contemporary financial aspects. Normally, flexibly alludes to the connection between the amount of a ware that makers are willing, capable and prepared to offer available to be purchased to customers at a specific cost. By and large, it is the aggregate sum of a help or item that is accessible for buy in the market at a given cost. Frequently gracefully is intended to satisfy the need for an item in the product. Over the ongoing past, the gracefully of cocoa has been reducing altogether. Thusly, this has prompted a confound between the accessible gracefully and interest for the item, in this way making pressure on world costs to rise (Davidson, 2014). A report by the International Cocoa Organization demonstrated that the flexibly of cocoa, the fundamental segment in the creation of chocolate fell by about 3.9 percent (Wexler, 2016). All the more unequivocally, the worldwide creation of the item declined by about 4.2 million tons in that year. In like manner, the degree of cocoa yield in Ghana dwindled by around 18 percent (Wexler, 2016). Mostly, the smothered degree of yield is ascribed to the expansion in sickness assaults on cocoa ranches, dry climate, and ominous changes in government strategy. Interestingly, around the same time, the degree of yield in Ivory Coast expanded by roughly 2.8 percent (Wexler, 2016). In a general sense, this is on the grounds that ranchers in Ivory Coast got considerable money related guide just as data to improve and help their profitability (Wexlers, 2015). All things being equal, the general gracefully of cocoa on the planet advertise diminished fundamentally. Graphical representation of flexibly of cocoa Source: (Moffatt, 2017). Investigation In an open market economy, the ideas of interest and flexibly cooperate to decide the harmony value level. Hence, the law of interest and flexibly work irregularly. Thusly, an expansion in the degree of interest well beyond the accessible gracefully of an item makes pressure on the cost of an item, consequently driving it to rise (Glanfield, 2014). Similarly, the supported increment in the interest for cocoa and chocolate on the planet advertise in the midst of a lessening gracefully has achieved considerable increments in the cost of chocolate (Glanfield, 2014). Note that the interest for cocoa is evaluated to keep surpassing the total flexibly of the item in the short term. On a very basic level, one can credit this to the way that the flexibly of cocoa is generally inelastic in light of the fact that it takes quite a while for the cocoa plant to develop and create cases. What's more, most cocoa ranches in Ghana and Ivory Coast are portrayed by mature age trees which have lessening efficiency. All things considered, these yields have passed their pinnacle creation and in this way are profoundly ineffective. To exacerbate the situation, environmental change in the district portrayed by beneath normal rainfalls has antagonistically influenced the general creation of cocoa in the Ivory Coast and Ghana. Besides, the creation of cocoa in Ghana was likewise influenced by the adjustment in the administration appropriation program. In total, these elements have contributed to a great extent to the decreased creation of cocoa on the planet advertise. Be that as it may, endeavors by Mondelez and different makers target revising this issue to encourage an expansion in cocoa flexibly. After some time, the flexibly of cocoa will satisfy its need and hold worldwide chocolate costs in line References Idea of Demand in Managerial Economics. MBA Knowledge Base. Recovered on 29 April. 2017from https://www.mbaknol.com/administrative financial aspects/idea of-interest in-administrative financial aspects/. Wexxler, A. (2016). Chocolate Makers Fight a Melting Supply of Cocoa. The Wall Street Journal. Recovered on 29 April. 2017from https://www.wsj.com/articles/chocolate-producers battle a-softening flexibly of-cocoa-1452738616. Moffatt, A. (2016). The Economics of Demand - Concept Overview. ThoughtCo. Recovered on 29 April. 2017 from https://www.thoughtco.com/the-financial aspects of-interest 1146965. Davidson, L. (2014). Dont alarm, however we could be coming up short on chocolate. The Telegraph. Recovered on 29 April. 2017 from https://www.telegraph.co.uk/fund/newsbysector/retailandconsumer/11236558/Dont-alarm however we-could-be-coming up short on chocolate.html. Cocoa Market Statistics. World Cocoa Foundation. Recovered on 29 April. 2017 from https://www.worldcocoafoundation.org/about-cocoa/cocoa-showcase measurements/ Glanfield, E. (2014). Choc loathsomeness: It may be Easter yet the world is coming up short on chocolate since request in China is exceeding cocoa bean creation and compelling costs up. Mail Online. Recovered on 29 April. 2017 from https://www.dailymail.co.uk/news/article-2608359/Choc-ghastliness It-Easter-world-running-chocolate-request China-overwhelming cocoa-bean-creation compelling costs up.html. Moffatt, A. (2017). The Economics of Supply. ThoughtCo. Recovered on 29 April. 2017 from https://www.thoughtco.com/the-financial aspects of-flexibly 1147942.

Role of Women in Deir El Medina essays

Job of Women in Deir El Medina papers The Egyptian workmans city known as Deir El-Medina existed from the eighteenth Dynasty, established to encourage the makers of the Royal Tombs of the Valley of the Kings and their families. The pictures of antiquated slaves that are singed in to present day cognizance consider them to be tormented workers, driven by the iron clench hand of their Pharaoh, anyway the occupants of Deir El-Medina were the opposite, living prosperous and free lives. Deir El-Medina which makes an interpretation of in Arabic to Monastery of the King , is one of the most very much saved old settlement of Egypt and was a profoundly gifted network of specialists who passed their endeavor from father to child. While most of the individuals who worked in the Royal tombs were men, a ton of the time the network was of ladies and they kept up a solid and critical job in the running of the city. Egyptian ladies were among the most regarded and favored of their time, living in an alleged populist society. Clear in huge numbers of the ostraca and papyri records is the way that ladies had better legitimate rights in examination than other working ladies around the globe. Occurrences of ladies introducing cases before their bosses and practicing their lawful opportunity are as a rule persistently found and deciphered. Among the ongoing models is a papyri from the late center realm including a duplicate of a body of evidence brought by a lady against her dad's domain, exhibiting a 'wedded lady getting a charge out of a totally autonomous lawful character'. Another model was in the abstract content entitled The Instructions of the (Vizier) Ptahhotep, protected in Middle Kingdom, this expressed: Try not to battle with her in court. Keep her from power, limit herher eye is her tempest when she looks. Accordingly will you make her stay in your home. This reference to battling with one's significant other in court obviously shows that ladies had lawful rights and were happy to battle for them Legitimately a lady co... <!

How Would You Describe A Leader And Leadership Essays (495 words)

How might you Describe a Leader and Leadership A critical piece of compelling initiative is the nearby association between the pioneer and the devotee, which regularly decides the accomplishment of the pioneers crucial. Shockingly, this pioneer devotee relationship can't be made by some straightforward recipe. Youthful pioneers of today face uncommon difficulties as they attempt to convey and collaborate with their supporters and potential adherents. By investigating worldwide viewpoints, human assorted variety, and morals, youthful pioneers can step forward in their turn of events and groundwork for twenty-first century initiative. Globalization has numerous ramifications for authority today and later on. Worldwide viewpoints are being spread to the most distant focuses on the planet and to the most detached individuals. Individuals of various societies go to the United States every day to live, travel, or participate in business. Pioneers must react to this test of globalization so they can adequately connect with whatever number individuals as could be expected under the circumstances. Opening themselves to the universes changes permits pioneers to thoroughly analyze their way of life with expressions of the human experience, language, convictions, customs, ways of thinking, and methods of living of others. By watching and scrutinizing another culture, pioneers can comprehend the birthplace of a people perspectives and become progressively delicate to the social needs of that person. By persistently presenting themselves to different societies, youthful pioneers can completely build up this worldwide point of view and give themselves to making associations with the whole world. On a progressively singular level, receptiveness to human assorted variety assumes a job in acclimating to the progressions of things to come. Individuals are finding that even inside societies, people originate from assorted foundations, have various characters, and lean toward various lifestyles. Youthful pioneers can manufacture a more grounded relationship with their devotees as they upgrade their own gratefulness for human assorted variety. As individuals become progressively differing, pioneers must figure out how to speak with them as people if a dream is to be shared, a firm gathering to be shaped, and an objective to be accomplished. Notwithstanding contrasts in assessments, the pioneer and supporters can cooperate to supplement each other as they advance toward the strategic the gathering. By presenting themselves to a wide range of circumstance and speaking with numerous sorts of individuals, youthful pioneers can build up a valuation for human assorted variety. Clashes br ought about by contrasts among people characters and societies have made numerous moral issues, and the number will just increment in this worldwide society. Pioneers may have a particularly troublesome time confronting moral issues as they motivate supporters to their central goal. Globalization, human decent variety, and moral issues can be trying for pioneers as they plan for the following twenty years and past. The changing scene calls for pioneers who will respond transparently to the presentation of new social characters and assorted varieties and who will confront moral issues dependably. Building up an initiative style in light of worldwide mindfulness, assorted variety, and morals will give youthful pioneers an edge as they assemble associations with individuals from everywhere throughout the world.

   Writer’s block. Is this phrase as ominous for everyone else as it is for me? Like someone stuck in a cell block, I envision myself sitting in a prison cell, cold, alone, and devoid of inspiration. I’m not sure why that’s the visual I get, but needless to say the picture conjured and connected to â€Å"writer’s block† has a harsh connotation for me. The strange thing is that I love to write and feel I have somewhat of a knack for it†¦once I get going. And there’s where that sinister phrase comes into play. I happened to find myself placed within that cell of frustration not too long ago, about an hour ago to be precise. The task before me was to write a blog post for—you guessed it—IEW. The post you are reading now. After wrestling with it for a bit, I decided to turn the problem on its head and write about my fight with writer’s block and how I, clearly, had won. The dash for victory began with the realization that I needed help. As the manager of customer service, I was leading the charge on a new plan for our agents to lend a hand in blogging. Being a true IEW believer, I was attempting to employ the model and imitation strategy, and I was first up to write a post. To my dismay it seemed I was failing from the start. How could I require my team to do something I myself couldn’t accomplish? The ideas just weren’t coming although I knew they were there. The words I began aimlessly typing in the hopes of inducing inspiration made no sense. The thought occurred that I had bitten off more than I could chew. â€Å"How do you eat an elephant?† My mother’s wise voice rang in my head, â€Å"One bite at a time.† All right. First things first—I needed a topic. Investigating various documents provided for our bloggy inspiration as well as looking through the IEW Facebook page proved fruitless. I needed something more. Feeling frazzled, I whipped around in my freestanding swivel chair and confessed to my cubicle partner, â€Å"I can’t think of anything to write!† Somewhat surprised, Nick proceeded to employ just what I needed: Unit 7 (Inventive Writing). He first expressed his empathy for my conundrum, and then together we began to compile a list of possible topics starting with what I loved about IEW and ranging to other topics that varied widely. In the course of our conversation, we were able to find ideas that resonated; eventually we arrived, in a sense, back where I started: the blank brain. But this time I was the victor, not the vanquished. Finally I had a topic! I would write about conquering the blank brain! Not just that, I also had gained confidence. It wasnâ₠¬â„¢t an easy process, but I had arrived. Through persistence, the buddy system, and a method that teaches us to ask questions and structure our thoughts, I broke free and laughed in the face of writer’s block. Now, don’t get me wrong. I know it will be back. But I also know I can handle it when it comes, and that changes everything. More than that, having experienced this process myself, I am equipped in a new way to assist my team as we move together towards becoming confident and competent communicators and thinkers. Take that, writer’s block! mic drop    Kristin  Boutross  grew up as part of a large homeschooling family in the rolling hills of Northeast Oklahoma. In addition to working in  IEW's  customer service department, she also assists the Director of Marketing. Teaching  IEW classes for a local homeschool co-op,  she has especially enjoyed being an assistant teacher to Andrew  Pudewa. She enjoys snow, singing, teaching, traveling, being with family and friends, and working with and for IEW Log in or register to post commentsKristin Boutrosss blog Log in or register to post comments Writer’s Block - Outline Permalink By iewBillisHomeSc...Oct07 We would love to see your outline of this essay. I sat down with my kids, aka students!!, and made a reverse one, froim essay to outline, and would love to be able to see our results. Log in or register to post comments Thank you for your comment! Permalink By Kristin BoutrossOct10 Thank you for your comment!  True confessions, I don't have a real written outline. I jotted a few  points of progression  and topics on a sticky note during our brainstorming session, but all the developing content was in my  head (I guess this is what graduating from the checklist looks like!). It was mostly the result of a conversation; Nick asked the questions and I answered, which helped me develop what I wanted to write about. Once I had the  topic and the overall structure  of the post (writer's block, frustration, process, victory), I found it much easier to build from there. I hope this helps in some small way!   P.S. I would LOVE to see your students' outline! If they're up to it, you can email it to me at KristinB@IEW.com. :)   Log in or register to post comments

The Neutrality Of Amendment One - 4116 Words

â€Å"Neutrality of Amendment One† Throughout our country’s history we have proclaimed a love for equality for all; however there have been times were this was not so. Someone could think of many examples of times where the equality of every individual was not upheld, but today, legislation is considered to be race neutral. Today, laws must be formally equal. We live in a time after slavery and after Jim Crow which deliberately placed African-Americans at a disadvantage. Because of this, laws are meant to be race neutral. One can then suspect that the effects of those laws, written in race neutral language will also be race neutral. However, this may not be the case. It could very well be that the effects of some laws disproportionately, and†¦show more content†¦She discusses several reasons as to why this type of law disproportionally affects African-American women. She claims that these laws were brought about as a direct response to the crack cocaine epidem ic, which was predominantly associated with the African-American community. She also notes other reasons such as how because minority women tend to live in the lower economic class they depend on more government assistance which therefore makes their drug abuse much more noticeable than a white woman’s drug abuse (Roberts pgs386-388). This paper will have a similar objective as Dorothy E. Robert’s piece. It will look specifically at Tennessee’s newly passed Amendment One and its possible effects on minority women. To truly see the effects, individuals must first understand what the amendment says, why it was brought up to vote, and what the effects on minority women may be as an outcome of its passing. The point of this paper is not to determine whether or not this amendment should have passed, but rather decide if the race neutral wording of the law truly produces race neutral effects when it comes to the individuals it effects. The state of Tennessee voted on Amendment One on November fourth of this year and it passed with fifty-three percent of the vote which roughly translates into 728,751 ‘yes’

Eating Disorders Are Taking Over The Minds Of People Day...

Eating disorders are taking over the minds of people day by day. According to the National Association of Anorexia Nervosa and Associated Disorders, up to 24 million people of all ages and genders suffer from an eating disorder in the United States (ANAD). These mental monsters are not only physical, but they are mentally destroying a person’s thoughts, which affect their overall actions. Not only are eating disorders caused by unrealistic societal expectations, but the monsters come out through the psychological aspects as well. Eating disorders effect the lives of the individual, and family culture is negatively impacted because of this monster. Eating disorders are â€Å"a mental health issue with devastating effects on one s physical health and quality of life. Underlying the food and exercise behaviours are distorted and self-critical attitudes towards shape, size and self-worth† (Eating Disorders). Three major types of eating disorders are anorexia, bulimia, and b inge eating. They are all disorders; however they differ by how harmful each one is to a person’s body. These eating disorders are monsters because they are potentially life-threatening. The first eating disorder is anorexia, which consists of self-starvation and excessive exercise for weight loss. People who suffer from anorexia think they are over-weight and the only solution to losing that weight is to not eat or exercise too much. The second eating disorder is Bulimia. This disorder is characterized byShow MoreRelatedCauses of Eating Disorders Eating disorders are several types of severe eating illnesses that700 Words   |  3 PagesCauses of Eating Disorders Eating disorders are several types of severe eating illnesses that cause people to maintain focus on only their diet and weight. Some prime examples of eating disorders are anorexia nervosa, bulimia nervosa, and binge-eating. 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Analysis of Potential Market for New Product-Samples for Students

Question: Analysis the Potential Market for New Product. Answer: Introduction Nike Inc. is ranked among the leading manufacturers and suppliers of footwear and sports apparel across the globe. Nike Inc. designs and manufactures sports products and apparels consisting of five main brands such as Hurley International LLC, Brand Jordan, Converse Inc., Nike Brand and Nike Golf designs (CNN, 2015). Nike Inc. produces and sells its products to consumers of different categories, for example, football, men and womens training, running, action sports, basketball and Nike Sportswear. Nikes success is attributed to its excellent global marketing strategies, for example, the use of professional teams and athletes to promote and advertise products to its target consumers in various markets across the globe. This company has dominated the US footwear and apparel markets with athletics products, and therefore, it needs to expand its market share and improve its sales into other international markets. This paper is going to carry out research and analysis of a new potential m arket in Australia, by focusing on the marketing environment, market segmentation and the consumer behaviour. It is going to conclude by explaining the most viable market research strategy for Nike Inc. The environment Changes in trends, consumer taste, and preferences Nike Inc. operates in a fast paced and an incessantly changing fashion industry. The consumer taste and preferences change very fast due to the arrival of new fashion products from competing firms. Consumers tastes are also changing to more personalized products, and therefore, more consumers are demanding for footwear products that are designed according to their personal needs including size, shape, and color. Preferences are also changing so fast, for example, women are increasingly becoming fitness-conscious and are demanding sportswear products that are work out friendly (Kotler Keller, 2012). Fashion trends are also another major change that takes place in this industry. Fashion trends are changing so fast; and therefore Nike Inc. is required to keep abreast with the changes. For instance, the sportswear across the globe is focusing on personalities, and this has made Nike Inc. focus on sports personalities and other celebrities. In this regard, Nike Inc. is forced to change according to fitness trends by positioning itself as a trendsetter in the sportswear and apparel industry. Technology is another major change that takes place in the sportswear global market. For example, the tremendous advancements in the level of technology have led to the emergence of smart shoes that are currently used by athletes today. SWOT analysis Every business operates in a business environment where there are both internal and external factors affecting its operation and performance (Liesch, Welch, Buckley, 2011). These include external factors are those that the business has no control over and internal factors that the business can control. Nike Inc. just like any other business operates in a similar environment. In this regard, the Nike Inc. need to carry out its SWOT analysis to estimate its operational activities in the new market. Strengths Among the important strengths of Nike Inc. is the presence of a talented and specialized team of workers who will be a significant players in the successful venture into the entire Australian footwear and apparel industry (Epstein, Buhovac, Yuthas, 2010). Nike Inc. skilled research department that engages in in-depth research to discover new and modern methods of production of goods that can satisfy the various needs of clients. Through this, the Nike Inc. will be able to do more research in the Australian market, a step that will help the company realize and meet the actual needs of the consumers. The Australian footwear and apparel industry is not been exploited fully; therefore, venturing into the Australian market with different types of footwear items that will give Nike Inc. a competitive edge in the selected geographical location. Despite the presence of a very competitive environment in Australia, Nike Inc. still has a competitive edge over its competitors because it supplies high-quality products to its customers. Besides, its products are designed to provide high-quality comfort among users. This makes Nike products to be considered unique in the market even in the presence of substitute good; therefore, the establishment of the dedicated stores will be a successful venture (George Snowdown, 2007). Weaknesses Nike Inc. possesses a smaller market share in the Australian market as compared to other footwear manufacturing firms like Aldo Group Inc. Nike Inc. does not have a stable ground in the market or a long-term relationship between them and the target market in Australia, and this will negatively affect the companys performance in the country. The buyers of Nike products are consumers and suppliers such as Sports Direct, JD Sport, and other celebrities who consider Nike products as fashion brands. The buyers of Nike products have a strong bargaining power, and therefore, Nike Inc. has to formulate and implement appropriate pricing strategies for their products. Therefore, based on Porters five forces model Nike Inc. will have to reduce its prices to levels that appeal to its current customers. This will helps it to retain its consumers and attract new ones as it expands its market share in Australia. Nike relies on several suppliers to promote the sales of its products. Some of the major suppliers of Nike Inc. include Footlocker, JD Sports and Sports Direct, who possess major supply chains in major cities across the globe (Nike Inc., 2014). According to Porters five forces model of assessing the market environment, these suppliers have very high bargaining power because they have links and access to several markets. They also target making profits and gaining popularity in the markets, and therefore, they deal with many other companies such as Adidas, Puma, and Converse. In this regard, they possess high bargaining power, and therefore, Nike Inc. has to take this into consideration by making wholesale sales to them at fair prices. Opportunities Footwear and sportswear products are becoming more and more popular among male and female sports lovers across the globe. The purchase of footwear and sportswear items has increased among both the young and older population who are aiming at maintaining good health and physical fitness. Nike Inc. can exploit this opportunity for a successful venture in the Australian market. The presence of online solution centres, where business enterprises engage in the selling of products is growing rapidly in Australia. Nike Inc. can exploit this opportunity to carry on online advertisements and the selling of their products to clients in the country. Through the implementation of an effective and a well-planned consumers segmentation, Nike Inc. has a high chance of maximizing its sales volume and improving its profit margins in the Australian footwear industry. Nike faces very minimal threat to market entry in the Australian market. According to Porters five forces model, there is a high threat of new market entrants when it is easy for other firms to enter into the industry (Gaji?, 2012). In the sportswear industry, the threat of market entry is very minimal because the entry of new competitors is very difficult. This is because it requires huge financial resources to establish and sustain a sportswear manufacturing firm. A new entry is even more difficult in markets that are close to their maturity such as the Australian footwear and apparel industry, where there is stiff competition from well-established firms such as Aldo Group Inc. Nike Inc. and Adidas. Threats Nike Inc. will face serous battle from multi-national competitors such as cosmetic companies like Procter Gamble, which are in control of the market Australian market and across the world. This will result in poor performance of Nike Inc. because this scenario will create a perfect market competition in this new market because there will be many firms offering the same products and yet they have a small market share (Pugsley, 2012). By venturing in Australia, Nike Inc. is going to encounter a serious price wars from sportswear and footwear firms that are already existing in the country. This include multinational manufacturers like Adidas and Puma (Jaradat, Salam, Mansour, 2013). There are also other foreign firms that bring substitute products to Australia, and this creates a very competitive market environment in the Australian footwear and apparel industry. Despite this, other manufacturers can imitate its designs and produce substitute products and offer them at lower prices. This will result in price wars among the competitors, for example, the price wars between Nike and Adidas, and this may have a negative impact on the performance of the newly established Nike dedicated stores in Australian cities. Nike is considered the leading manufacturer and supplier of footwear and apparel in many countries, however, in Australia, it faces stiff competition from other manufacturers who produce similar products. Its position as a leader in the footwear industry is under threat from Adidas, which is its closest rival. As already alluded under the section of the threat of substitutes, the rivalry between Adidas and Nike has been going on for many years. Business organizations that aim at achieving both short-term and long-term success should not overlook its rivals, and therefore, they watch each others steps and strategies to identify the weaknesses to exploit to gain a competitive edge in the industry. Market Segmentation To meet the demands of a larger population, Nike Inc. has segmented its markets into various categories, and as a result, this company engages in the designing and the production of various categories of footwear and apparel (Kotler Keller, 2012). As already alluded in the section above, Nike Inc. designs and manufactures sports products and apparels consisting of five main brands such as Hurley International LLC, Brand Jordan, Converse Inc., Nike Brand and Nike Golf designs (Nike Inc., 2014). Nike Inc. produces and sells its products to consumers of different categories, for example, football, men and womens training, running, action sports, basketball and Nike sportswear (Nike Inc., 2014). In line with these aspects, Nike Inc. has segmented its customers into the following demographic, geographic, behaviouristic, and psychographic variables as discussed below. Demographic Demographics which refers to the categorization of consumers based on characteristics such as life-cycle gender, age, occupation, gender, and generation is a major variable that Nike uses to segment its market (Kotler Keller, 2012). With regards to gender, Nike targets both male and female athlete and non-athlete consumers (Otnes Zayer, 2012). The company engages in the production of footwear and apparels that target men and women separately, for example, shoes, tracks, t-shirts and jackets for men and women in different designs. Concerning occupation, Nike targets athletes and fitness trainers. This company engages in the products of footwear and apparels that are used in sporting related activities, for example, football, basketball, training and other action sports. Australia is the home of many athletes, and it has basketball, football, and volleyball teams that use Nike products. Nike designs and manufactures soccer boots that are used by top soccer players across the globe. N ike targets consumers who are aged between 15 and 40 years by developing sports and fitness products. Geographic Nike has segmented its markets according to geographical locations such as cities, regions, and countries according to the demand of their various products. For instance, in the US, this company focuses on the athletes who play baseball and American Football. Equally, in Europe, the company focuses on athletes who play soccer and rugby because this region is dominated by soccer players (Steen Liesch, 2007). Finally, in the Asian region, Nike distributes products that meet the needs of cricket players due to the association of cricket with Asian countries. As a result, due to the increase in demand for Nike products in given geographic regions, Nike distribute its products at higher prices. This practice is in line with the theory of demand and supply which states that increased demand for products results in increased prices of commodities (Kotler Keller, 2012). Behaviouristic Consumer behaviour is another major variable of segmentation that is used by Nike Inc. this company focuses on the attributes of their products and how their products make consumers feel (Westerman, 2006). To achieve this, the company addresses the expectations of their consumers, for example, athletes expect to feel like athletes when they put on Nike products, and Nike customizes the products to meet these expectations. This practice can be explained using the individual trait theory, which states that an individuals personality influences purchasing decision (Udo-Imeh, Awara, Essien, 2015). This has enabled Nike to win the trust and loyalty of customers towards their products. This has also helped Nike Inc. to get benefits from the extra market share composed of their loyal customers. The company has maintained its loyal customers by providing them with high-quality footwear and apparel products. Psychographic This is another major variable that Nike Inc. uses to segment its market. It refers to the grouping of consumers based on their personalities and lifestyles (Blackwell, Miniard, Engel, 2007). In this regard Nike target consumers who play, watch or talk sporting activities because this is what shape their lifestyles and personalities. This company develops a lifestyle, and it creates an attitude and a feeling that surpasses their products through events like sports improvement clinics, which give their targets a sense of belonging to the Nike family. Consumer behaviour Understanding the consumer behaviour is a complex task for business enterprises. This is because their purchasing decision is influenced by different factors such as personal, psychological and social factors (Otnes Zayer, 2012). Despite this, Nike Inc. aims at providing footwear and apparel products consumers belonging to different categories. Based on the segments above, the most promising category of consumers is the behaviouristic segment. To influence consumer decision-making to purchase Nike Inc. products, this company is going to utilize the element of the personality of consumers. According to Udo-Imeh, Awara, and Essien (2015), the personality trait has significant influence on the consumer decision-making process and patterns of consumption. Experts of consumer behavior have discovered general and consumption specific traits, which can be used to formulate marketing strategies to successful influence the decision-making and purchase behaviour of consumers. In a research study that was carried out by Gharibpoor and Amiri (2012), it was established that consumers purchase decisions are influenced by individual and social traits. Nike consumers who belong to the behaviouristic segment make decisions based on the personal, psychological, and social influences. According to the five-factor theory, a consumers purchase decision is influenced by the personality of innovativeness, which makes consumers to prefer new things (Krishnan, 2011). In this regard, Nike will have to access the selected segments response to new sportswear and apparel products and make new changes in its marketing mix to positively influence their purchasing and consumption patterns (Schiffman Kanuk, 2010). For example, Nike will have to take advantage of current technological capabilities to produce smart sportswear products for their consumers (Tsao Chang, 2010,). The purchasing decision of consumers are determined by social influence. Some of the consumers purchase decisions among the consumers of Nike products are influenced by friends and family members. Opinion leaders and role models, for example, Michael Jordan and Le Bron James who use Nike products are major influences in the purchasing decision among many consumers of Nike products (Blythe, 2008). Therefore, Nike is required to identify how consumers in the selected segment respond to social influence while making purchase decisions and employ appropriate strategies to address them effectively. Nike will have to identify the cognitive personality traits that correspond to the selected market segment. In a research study that was carried out by Solomon (2011), it was established that verbalisers and visualisers are the two leading cognitive traits that have huge influences on the purchasing decision of consumers. In this regard, Nike will have to design its marketing and communication strategies to appeal to the verbal and visual traits of their consumers to positively influence them to purchase the companys products. Marketing Research The most viable market research method that will provide an in-depth understanding of the Australian market is survey. Survey refers to a market research method where an entrepreneur formulates questions that are aimed at deriving specific information regarding the involved market (Sarstedt Mooi, 2014). Since Nike Inc. do not have a lot of time for market research, the survey is the most viable market research method because it is a quick method of getting information regarding the market. Secondly, this method is viable because it provides in-depth firsthand information regarding the market to the researcher as compared to secondary research (Longbottom Lawson, 2017). Despite this, a survey is not cost effective; however, Nike Inc. has sufficient financial resources to finance it. The vital information that I would seek for during the research includes consumer taste and preferences, fashion trends, the availability of the major competitors and their market share, the purchasing power of consumers and suppliers, pricing strategies, and the most appropriate geographic location for operation (Jan Diggines, 2009). To acquire this information I would carry out a qualitative market research through survey method. In this regard, I would develop open and close ended questions and use telephone surveys, online surveys, paper surveys, and mail surveys to participants (Amandeep, 2015). I would use these methods because they are quick and provide credible information for use in the making of future decisions. Conclusion In conclusion, Nike Inc. dominates the global sportswear and apparel industry. This company operates in a fast changing fashion industry. The fast paced changes in technological knowledge lead to the fast changes in fashion trends. Similar, the arrival of substitute products from similar companies leads to the fast changes in the taste and preferences of consumers. According to SWOT analysis, the major strengths of Nike include a skilled team of employees that offer high-quality products. However, it also has weaknesses and faces major threats from competitors in the market. The segmentation of Nike Inc.s market can be described based on four major variables, namely, the geographic variable, psychographic variable, behaviouristic, and demographic variable. The consumers of Nike products is influenced by their personality, and this can be explained by the personality trait theory. Finally, for effective decision making in the future, Nike should use a survey method to carry out market research. This method is viable because it is quick and provides accurate and reliable feedback to the researcher. Bibliography list Amandeep, T. L. 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