The coollink limited in nigeria Essays

The coollink limited in nigeria Essays The coollink limited in nigeria Essay The coollink limited in nigeria Essay INTRODUCTION Company Information Coollink limited is a subordinate of STEAM Broadcasting A ; Communications limited, Nigeria. Coollink is one of the celebrated and registered Internet Service Provider ( ISP ) based in Nigeria. Coollink clients are referred to as Clients and its services cuts across Nigeria in its entirety. Coollink s sell vsat equipments to its clients and besides offers after sale services depending on the understanding with each and every client. It s necessary to indicate out that Coollink has two groups of Clients which are: Cooperate organic structures that comprises, fiscal establishments, oil companies, insurance companies, higher establishment of acquisition, governmental organic structures who require vsat solutions ( ku set and hundred set ) Individual clients who require fixed wireless broadband for little office and place office ( SOHO ) For the intent of my work, I m will be concentrating on Consumer market and non concern market. Question 1: a. Market cleavage is the class of dividing a really big market into sections of different purchasers who will react to different merchandise and service offerings and market mixes. The formulated different sections are used as standards for merchandise targeting. In other words, there is need to understand that there are assorted clients with diverse demands and a market should non seek to delight all of them with the same offer. Research has farther confirmed organisations that target forte market tends promote its merchandise and services more successfully than a concern taking all the market. Mentioned below are some of the assorted attacks by which an organisation can section its merchandises and survives, and each of these attacks has different variables. Geographic: when market is segmented by assailing a peculiar part, province, clime, metropoliss, states or even vicinities. Demographic: market is segmented utilizing variables such as age, Income, Occupation, Education, Ethnicity, Nationality, Religion, Social category etc Gender, lodging type etc. Psychographic: the variables used here country activities, involvements, sentiments, attitudes, values, emotions, lifestyle amongst others. Behavioral: market is segmented with usage rate, user position, potency, benefits sought, trade name trueness, first-time, etc. The merchandise and service I would wish to concentrate on are the sale Vsat equipment and client attention service severally. Market cleavage with mention to Coollink can be seen under Geographical Segmentation and Behavioural Segmentation. These two were chosen after series of market researches. Geographical in the sense that Coollink has merely two base Stationss which imply it can merely offer services to prospective clients within those peculiar localities. Behavioural on the other manus is built-in in both single and cooperate clients, because the fact remains non all places, offices and cooperate organic structures in Nigeria of today can afford the charges that comes with cyberspace services. The few that has cyberspace services do so because of their societal category, Clients that appreciate what they will profit from utilizing cyberspace services all over i.e. In other words, there is a impulsive force. Below are some of the grounds ( benefits ) amongst others why Coollink has chosen to section its market It helps to place which market it wants to function since it acknowledges that there are assorted consumer with different features that defines them, It helps to acknowledge what each and every Clients demands are, in order to proffer better solutions since client demands differ, It helps assures the highest return for marketing/sales outgos, It increases net incomes for concern, concern can raise mean monetary values and later heighten net incomes through market cleavage There is better chances for growing since cleavage physique gross revenues, Through aiming, we can accomplish competitory production and selling costs which in bend addition the market portion, Helps to understand who contenders country and why they are rivals, Helps acknowledge little, but of import sections of the market in other words ; it allows direction to concentrate more on the most profitable purchasers. It helps in the procedure of apportioning financess to different sections of the market It assist in the procedure of taking the proper media of marketing communicating and publicity based on the properties of each section It guides to develop merchandises that truly fit the market demands. B. A Customer harmonizing to Wikipedia ( Accessed: 14 January 2010 ) â€Å"is a wide label for any persons or families that use goods and services generated within the economy† . Coollink s clients referred to as CLIENTS can be grouped into two classs which are: Cooperate organic structures that comprises, fiscal establishments, oil companies, insurance companies, higher establishment of acquisition, governmental organic structures who require vsat solutions ( ku set and hundred set ) Individual clients who require fixed wireless broadband for little office and place office ( SOHO ) Customer purchasing behaviour is the survey of how and why people buy goods and services, it covers the determination devising procedures. Kotler ( 1996 ) cited that purchaser s determination procedure go throughing through five phases that is: demand acknowledgment, information hunt, rating of options, purchase determination and station purchase behavior. There are internal and external factors that influences costumer purchasing behavior and these factors can be categorized under Personal factors ( that is, Demographic factors like sex, age, race etc ) , Psychological factors ( that is, motor, perceptual experience, attitude, ability, cognition, personal experience life style, etc ) and Social factors ( such as leaders, household, friends, mention group, societal category, civilization and sub-culture ) In the instance of Coollink, the factors that influence the Clients purchasing behavior can be tagged under: Psychological factor Social factor. The followers are the grounds why the above named factors influence coollink clients purchasing behavior Coollink is a celebrated service supplier ; Clients fear the danger of confer withing other service supplier who might non adequately supply the sort of service required. Coollink launches assorted adverts in both print and electronic media which gives the prospective client the consciousness of the strength and capableness of the merchandise and services they offer Coollink merchandise and services gives comfort and convenience because it offers its Clients the chance to bask extra services like VPN ( practical private web ) which is the ability to web different offices as proffered by the Client, Coollink besides provide WAN ( Wide country web ) and LAN ( local country web in which other cyberspace service suppliers do non possess all these installations Coollink besides appreciates its Clients by giving good client service and after sale service. Coollink s merchandise gives value for money, after buying of Coollink merchandise and services provided, Clients appreciates the fact that though it comes expensive but finally realizes it is worth the money value. Besides there is a Pride of being associated with coollink because it is a sister Company to other celebrated group of companies all over Nigeria. Coollink besides offers from clip to clip Gross saless promo which besides encourages prospective Clients With all the above in topographic point, clients will stay loyal since corsets satisfied. It has besides positively affected the growing of the organisation which has in bend enhanced net income Question 2: Harmonizing to bitpipe.com ( Accessed: 22 January 2010 ) , â€Å"Business Process is a set of co-ordinated undertaking and activities, conducted by both people and equipment, that will take to carry throughing a specific organisational goal† . On the other manus, SHIVAUN OBRIEN ( Accessed ; 22 January 2010 ) sees Choice criterions are â€Å"statements sketching the cardinal elements of a quality programme† . It can besides be seen as a construction for accomplishing a celebrated degree of quality within an organisation. Coollink as an cyberspace service supplier has legion concern procedures with some criterions in topographic point. For the intent of my appraisal I will concentrate on merely the procedures involved in, Command for proposals Covering with Customers ailments Command for proposals: Coollink acquires some of its Clients through command for proposals. The procedure involved is merely reacting to assorted adverts in the newspapers or diaries whereby corporate organic structures petitions for proposals from assorted capable cyberspace service suppliers. We thenceforth collate our paperss and subject our proposal for command, so delay for the shortlisted companies to be notified. The procedure here appears straightforward since we have been traveling through this procedure for a long clip, but yet we still do some preventable errors which in bend lead to the loss of some of import clients. The errors ranges from subjecting a proposal without seting a critical papers, last minute haste due to enrollments we have to make, late entry, acquiring the adverts late and cost estimation. In order to accomplish equal quality and excellence, the above procedure can be enhanced by seting the followers in topographic point Appointing competent professionals as commission member who will be to the full responsible to seek for adverts, fixing and subjecting proposal in order to avoid non seting important paperss and late entries Reclamation with professional organic structures should non be done at haste hours, since this is one of the basic demands when command, so we should guarantee all the ranks are renewed as at when due and non when we have proposals to subject. Team work is besides really of import Covering with Clients ailments: After a client acquires the necessary merchandises, and the installing takes topographic point. So it is expected that from clip to clip, Clients would hold one thing or the other to kick about. They could either name our client attention line for an immediate solution or we could direct an applied scientist to the client to supply the solution. The inquiry here is at what gait do we supply these solutions? This is when quality service comes in. In order to accomplish equal quality and excellence, the above procedure can be enhanced by seting the followers in topographic point It is necessary to hold a mission statement ( clearly understood by the employees ) which will specify the intent of its services ( first-class service ) and what makes it important amongst other internet service suppliers. There should be equal proviso for telephone lines and receiving systems in order non to maintain clients waiting There should be proviso for forces to work during the weekend in order to go to to clients as at when needed Proper preparation should be given to the Customer attention functionaries and proficient squad in order to satisfactorily go to to clients Proper motive has to be in topographic point and this is when employess will see Clients as ever right Besides using people because of their competency should come foremost and non because they are inexpensive Additionally, I will wish to propose even if clients do non kick, we should name from clip to clip to corroborate they are basking the services we have rendered since some unsated Clients may neer kick Team work is really necessary, a foreman has to be near to the employee in order to Question 3: Market SHARE ( CASH GENERATION ) From the above analysis, it can be deduced that Coollink s merchandise is a really strong STAR ( high growing rate and high market portion ) on its manner to going a hard currency cow. At this phase, Coollink uses big sum of hard currency in order to bring forth big sum of money because of its high growing rate, its puting more for future growing. On the other manus, Coollink s Service is at the phase of Question mark ( high growing rate and low market portion ) which consumes big sum of hard currency and do non bring forth hard currency. At the Customer attention service degree, attempts should be made in order to better and non go a Canis familiaris but a star. The best manner to cover with this is to put to a great extent in order to derive market portion. Product life rhythm harmonizing to EPSILONINDUSTRIES ( Assessed 28 January 2010 ) is â€Å"Generally a selling term used to mention to the explosive growing, tableland, and diminution of a merchandise or trade name, a merchandise life rhythm can besides mention to the iterative procedure of bettering a merchandise over clip through major redesigns or replacing of disused versions† . The place of the merchandise ( equipment for Vsat ) on the merchandise life rhythm is on the adulthood phase due to the fact that of the collink s merchandise is good known. The place of client attention service provided in coollink is at the growing province, the ground is that we need to put in this facet in order for us to run into up to standard in order for clients to be truly satisfied Question 4: Harmonizing to the U.S. office of Personnel Management ( Accessed: January 24 2010 ) , â€Å"Planning agencies puting public presentation outlooks and ends for groups and persons to impart their attempts toward accomplishing organisational aims. It besides includes the steps that will be used to find whether outlooks and ends are being met† . Marketing planning is the scene of future selling aims for merchandise, service, trade name, or merchandise line and the finding of appropriate schemes, tactics and resources to be used in accomplishing such aims. It involves the development of a logical procedure for set uping selling ends, plans to accomplish these ends, apportioning budgets for different selling activities and measuring the mark market sections. There are assorted phases involved in marketing planning procedure which varies from organisation to organisation, with mention to Coollink ; the followers are the basic selling planning procedure: Research on what the client demands in order to better: thorough research is made on what the client wants and why they want, and this is achieved by giving out questionnaires to prospective Clients. Research on assorted makers of merchandises ( equipments for hundred set and ku set ) there are and taking clip to analyze who will outdo function the society in relation to client demands Evaluation the two stairss above in relation to the economic system state of affairs How the said merchandises will be advertise in order to make the prospective clients, research on what and what newspaper people read and radio Stationss evaluation on order to put adverts in the right topographic points Reappraisal: where there is a rating between what was planned and what has been achieved in order to continuously better Measure public presentation, they entree the strength and failing of the merchandise Marketing planning procedure is really of import to Coollink and any organisation due to the undermentioned grounds: It helps the selling squad present a program and budget the direction could associate to It gives the chance to entree the consumers to function and how best they can plan merchandises and services that will supply better value ( i.e. competitory advantage ) It enables the selling director develop his managerial ability It besides gives sellers the chance to acknowledge that there may be a good ground to travel back and adjust a anterior measure before finishing the program It brings about clearer definition of marketing aims and policies and improved selling patterns It assist direction to seek uninterrupted betterment in selling public presentation It focuses direction s attending on menaces and chances It improves communicating and co-ordination amongst members of the organisation It ensures that there is a clear apprehension of the information needed to do the needed determinations It increases the possibility of undertaking success, cut downing overall undertaking cost, and shortening project life rhythm it designs inducements pay programs do non merely motivate and reward frontline staff reasonably but besides to aline activities with corporate mission Referencing hypertext transfer protocol: //www.netmba.com/marketing/market/segmentation/n accessed jaunary 2010 NET MBA Market Segmentation Brainmates, hypertext transfer protocol: //www.brainmates.com.au/ ? p=360 accesse January 21 2010 Administrations and the Business Environment 2Nd Ed. 2005.p 634 by Campbell, David J.Craig, Tom hypertext transfer protocol: //tutor2u.net/business/marketing/segmentation_why.asp accesses january 21 market cleavage why section markets? RDI Learning Without Boundaries, SATISFYING THE CUSTOMER STUDY MATERIALS hypertext transfer protocol: //www.bitpipe.com/tlist/Business-Processes.html january 22, 2010 Sparx Systems UML Tutorials the concern procedure theoretical account January 20 2010 SHIVAUN OBRIEN Quality criterions, 2005 page Designed by: page 16 hypertext transfer protocol: //www.youthreach.ie/aatopmenu/Library/qualityframe/Quality % 20Standards % 20pdf % 20web.pdf ORPHISME DESIGN Printed by: CSM PRINT SOLUTIONS hypertext transfer protocol: //en.wikipedia.org/wiki/Consumer January 14, 2010 hypertext transfer protocol: //www.opm.gov/perform/overview.asp U.S. office of forces direction, be aftering Double line spacing Change customer/consumer to client hypertext transfer protocol: //epsilonindustries.com/resources/injection-molding-glossary/ JANUARY 28 Kotler, Philip and Amstrong, Gary. ( 1996 ) . Principles of Marketing, 7th edition, Prentice Hall, New Jersey. Seven Buying Motivations That Can Help People Buy Into You http: //ezinearticles.com/ ? Seven-Buying-Motives-That-Can-Help-People-Buy-Into-You A ; id=1021747 ACCESSED JANUARY 19 2010 BY lynn marie sager Buying Motivations Why Do Peoples Buy in marketing hypertext transfer protocol: //www.businessopportunitiesandideas.co.uk/927/buying-motives-why-do-people-buy accessed january 9 2010 CUSTOMER BUYING BEHAVIOUR hypertext transfer protocol: //www.articlesbase.com/marketing-articles/customer-buying-behaviour-999729.html January 9 2010 What is Consumer Buying Behavior? hypertext transfer protocol: //www.udel.edu/alex/chapt6.html january 9, 2010 Melvin S. Hettwick, Meaning of Buying Motives, hypertext transfer protocol: //www.openlearningworld.com/olw/courses/books/Consumer % 20Behaviour % 20and % 20Motivation/Consumer % 20Behavior % 20and % 20Motivation/Meaning % 20of % 20Buying % 20Motives.html January 9, 2010 Quick Master in Business selling, Market Segmentation hypertext transfer protocol: //www.quickmba.com/marketing/market-segmentation/ January 9, 2010 Net Master in Business selling, Market Segmentation hypertext transfer protocol: //www.netmba.com/marketing/market/segmentation/ January 9, 2010 Center for concern planning, Market Segmentation, hypertext transfer protocol: //www.businessplans.org/Segment.html, January 9 2010 market cleavage why section markets? hypertext transfer protocol: //tutor2u.net/business/marketing/segmentation_why.asp January 9 2010 cognize this.com, Step 1: Identify Market Sections hypertext transfer protocol: //www.knowthis.com/principles-of-marketing-tutorials/targeting-markets/identify-market-segments/ , January 9 2010 Market Segmentation, Jerry W. Thomas hypertext transfer protocol: //www.decisionanalyst.com/publ_art/MarketSegmentation.dai, January 9, 2010 Mickey Arthur How to Improve Quality System Training Per ISO Standards hypertext transfer protocol: //www.ehow.com/how_5711729_improve-training-per-iso-standards.html January 20 2010 Wikipedia, THE FREE ENCYCLOPEDIA Marketing program, hypertext transfer protocol: //en.wikipedia.org/wiki/Marketing_plan, January 17, 2010 strategic be aftering the nexus with marketing hypertext transfer protocol: //tutor2u.net/business/strategy/strategy_marketing.htm, January 17, 2009 merchandises merchandise life rhythm, hypertext transfer protocol: //tutor2u.net/business/marketing/products_lifecycle.asp january 27, Product Life Cycle Industry Maturity Stages, Fox, Wasson, Hofer, Anderson A ; Zeithaml, Hill A ; Jones, hypertext transfer protocol: //www.valuebasedmanagement.net/methods_product_life_cycle.html, January 27 2010 BCG Matrix Model, hypertext transfer protocol: //www.maxi-pedia.com/BCG+matrix+model, januaty 27 2010

Getting ahead planning your retirement in your 20s

Getting ahead planning your retirement in your 20s Have you ever heard the old saying that it’s never too early to start planning for the future? If so, you may have decided to ignore it, or just worry about it later- after all, when you’re young you feel as if you have an endless amount of time to plan your life and that your time is better spent having fun and living for the moment. But the truth is, the future is coming faster than you might realize. When it comes to retirement planning, the phrase â€Å"never too early to start planning† can be the best advice you’ll ever get. Sure, there are a lot of reasons why it’s especially tricky to start planning for such a far-off notion like retirement. The truth is, you’re likely just getting started in your professional journey, and you may have little to no idea where your climb up the career ladder will take you. Also, if you’re like most of us, the money you’re earning when you’re new to the work world doesn’t exa ctly leave you with a ton of options for saving and investing for the future. On top of all this, it is much more fun to be carefree and live for the moment when you’re young, and many of us make a deal with ourselves to start taking money matters seriously when we reach a significant (and distant) milestone in our lives (age 30? 40? 70?).That said, you really don’t have to completely overhaul your life or give up on fun in order to start planning for retirement but the more prepared you are for this inevitable end to your career journey the more confident and relaxed you’ll be about money matters at every phase of your life until then. Taking baby steps toward greater financial responsibility while you’re in your 20s will bring you that much closer to whatever your retirement goals turn out to be- and help you avoid (or at least minimize) the amount of fear, worry, and anxiety you feel when you’re focused on your financial health and future. And t rust us, if those days aren’t here yet, they’re right around the corner.If you’re ready to take the next step and get serious about your retirement planning, then consider the following strategies to move you in the right direction.4 steps to planning for retirement now1. Develop a saving mindset.Sure, when you’re in your 20s it’s hard to take savings seriously. Most likely, your main focus is on getting your bills paid and being able to afford the basics, and that makes total sense. However, even saving just a little bit can go a long way.Let’s take a look at a small example- suppose you enjoy a mid-afternoon latte each workday. The average price of a latte is around $2.50. Now, instead of buying the latte, imagine taking that money and dropping it into a savings account- in 5 years, you’ll have saved $3,250 just by making this one small life change. Are there other small savings changes you can make to help you build your nest egg? Probably, and the more money you’re able to divert to savings the better off you’ll be- both for short-term needs and for long-term health as you creep closer to retirement. But perhaps more importantly, just getting into a savings mindset early on in life will set you up for being a more financially responsible adult as you get older- and your ability and desire to save and spend wisely will set you up for a great financial future.2. Take advantage of work resourcesMost of us aren’t thrilled to have to work, but one of the good things about having to hold down a job is that it can often come with some useful employee benefits- which may include a retirement benefits plan. These days, more and more companies are offering a 401(k) plan to help employees save and prepare for retirement, which often provide some incredible perks like employer fund matching (which is as close to free money as most of us will ever get).Taking advantage of investing in a 401(k) is so universally recognized as beneficial (and often essential) that many companies automatically enroll employees in plans to help them start saving their money wisely. If your company offers this benefit, there is absolutely no good reason not to take advantage of it- even if it’s just a small percentage of your paycheck. Don’t worry if you don’t plan on staying at your current job forever- you get to take your money with you.3. Explore other investment optionsIn addition to the retirement benefits that your employer may offer, consider exploring other investment options available to you: IRAs, mutual funds, CDs, and the stock market. Sure, it’s a little scary to jump into the world of investing as a newbie, but there are a wealth of resources available to you, including online tools, wise and trusted friends and family members, and investment professionals tied to your bank (assuming you have a savings or checking account- and if you don’t, consider opening one). Do some research and start small. You’ll be amazed by how well a few wise investment decisions early on in life can set you up for a comfortable retirement.4. Decrease debtDebt is not your friend. Even though it’s often an unavoidable part of adulthood, be sure to make every effort to decrease your debt burden as you move closer and closer to retirement age. The truth is, some forms of debt- like a home mortgage- are indicative of financial stability and solvency. But other forms (like credit card debt) are best left avoided or eradicated as quickly as possible. If you have a credit card (or multiple cards), avoid using them unless it’s an unavoidable emergency, and pay off what you owe as quickly as possible. Nothing creates a financial headache and panic attack faster than an unwieldy amount of unhealthy debt- so be sure to avoid drowning here.