http://www.vancouversun.com/business/smallbusiness/Small+retailers+using+Facebook+boost+sales/4097982/story.html
Summary:
The article I read mentions that many small retailers use facebook to boost their sales. Many large business have been on facebook and have millions of followers, but small business just need a bit of time to adopt to that. Last summer, the percentage of small businesses with a social media presence jumped from 12 percent to 20 percent from the survey of University of Maryland business school in 2009. Facebook is the most popular site of small businesses setting up their own page. Janet Holt set up a facebook page for her 5-year-old business in August. She does a lot of promotion on Facebook. For example, she credits social media with helping to drive turnout at her annual holiday sale, she gives additional discount to the shoppers who replied to this invitation. Nowadays, facebook has almost replaced the position of e-mail because facebook is much more effective than email.
Connection:
The connection to chapter three is the production margin and the use of socials media. Before you start your business, you need to choose the right price for the customers. First, you need to know which type of customer that you are dealing with. If you want to set it as a high price product, your attention need to focus on qualities of the the product. Otherwise, the rich people will not buy your product because the quality is so poor. On the contrary, if you set it as a low price product, your customers will be more because the price is not high and everyone can afford it, but you need to sale a large quantity of your product. Today, everything is relied on internet, so if you can use it wisely you will benefit a lot. The study found, facebook is the most popular site now. Setting up a page of your business is better than making your own website. In addition to that, using facebook appropriately can actually expand your business and make more money.
Reflection:
Today, socials media still have a really big potential to business. Facebook will replace the position of e-mail because facebook is more efficient than e-mail. E-mail become an old thing now. Using facebook to advertise your product is actually doable because it is not complicated and it is a good media to use. You need to let people know your product so choosing the right media to use is so important. Beside media, there is also some strategy that you may use in facebook. As I mentioned before, you need to know which type of customers that you are dealing with. After that, you choose to do high price or low price. Even if it is high price or low price, there is also a strategy that you can use when you sale your product. In my opinion, when you chose a price that you want to sale for the product, you raise the price a little bit higher because you can give discount and stimulate customer's purchase sentiment. I think this might be a effective method. However, setting up the price and choosing the right media for advertisement are really important. These might lead your business to success or fail.
Wednesday, January 12, 2011
Friday, November 5, 2010
FAC 12 - Ch 2 - Toyota sales decline, Ford surges
http://www.vancouversun.com/business/Toyota+sales+decline+Ford+surges/3766246/story.html
Summary:
The article I read mentions that the Toyota Canada Inc. declines in the October sales in the aftermath of recalls. Toyota vehicles is separated from Lexus and Scion. They are losing money since the recalls, Toyota only sold 247 Scions in the first full month of sales. so they are planning to expand the Scion dealership in order to compensate the decline. Toyota sales are dipped 12.4 per cent compare to the sales in 2009. On the other hand, Ford surges by the time Toyota is declining. Ford is more profitable compare to Toyota. Ford increases 8 per cent in the October sales. It actually increases 20 per cent compare to 2009.
Connection:
The connection to chapter two is the plan of investment by looking the financial statement of a company. Financial statement shows whether the company is profitable or not. For example, after you looked at the financial statement of Toyota, you will noticed that this is not a good company to invest because the financial statement from the past to present is showing that Toyota's profit is declining. In contrast, Ford is a good company to invest because it is profitable and it has the potential of making a bigger profit.
Reflection:
The recalls of Toyota vehicles caused a huge impact of the direction of Toyota, it's profit is declining until now. As a investor, I would not invest to Toyota because Toyota is not that reliable as before after the recalls. Many people do not want to buy Toyota's vehicles. It decreases the profit of Toyota. If you invest Toyota at this time, you will actually lose money. On the other hand, this is a good opportunity for the investment of Ford because the profit of Ford is increasing rapidly, If you invest to Ford now, you will actually make a lot of money within a short period.
Summary:
The article I read mentions that the Toyota Canada Inc. declines in the October sales in the aftermath of recalls. Toyota vehicles is separated from Lexus and Scion. They are losing money since the recalls, Toyota only sold 247 Scions in the first full month of sales. so they are planning to expand the Scion dealership in order to compensate the decline. Toyota sales are dipped 12.4 per cent compare to the sales in 2009. On the other hand, Ford surges by the time Toyota is declining. Ford is more profitable compare to Toyota. Ford increases 8 per cent in the October sales. It actually increases 20 per cent compare to 2009.
Connection:
The connection to chapter two is the plan of investment by looking the financial statement of a company. Financial statement shows whether the company is profitable or not. For example, after you looked at the financial statement of Toyota, you will noticed that this is not a good company to invest because the financial statement from the past to present is showing that Toyota's profit is declining. In contrast, Ford is a good company to invest because it is profitable and it has the potential of making a bigger profit.
Reflection:
The recalls of Toyota vehicles caused a huge impact of the direction of Toyota, it's profit is declining until now. As a investor, I would not invest to Toyota because Toyota is not that reliable as before after the recalls. Many people do not want to buy Toyota's vehicles. It decreases the profit of Toyota. If you invest Toyota at this time, you will actually lose money. On the other hand, this is a good opportunity for the investment of Ford because the profit of Ford is increasing rapidly, If you invest to Ford now, you will actually make a lot of money within a short period.
Wednesday, September 29, 2010
FAC 12 Ch 1 - Airline industry rebounding: IATA
Link: Airline industry rebounding: IATA
Summary
The article I read mentions that the airline industry has rebounded faster than expected from the economic recession in 2008 to 2009.The International Air Transport Association reported that the profit will be $8.9 million on the revenue of $560 million. Air Canada has been losing money during the first six months of 2010. On the other hand, Rival WestJet Airlines has been profitable, and it earned $34.8 million in the first half of 2010. moreover, the quick recovery of Asian economy helps boost the demands for airplane, indirectly stimulating the airline industry in North America. However, IATA predicts that there will be a decline in profit among the airline industry because of the slow-down of government stimulus spending and the high unemployment rates. In addition, as the crude oil price increases, the whole airline industry's expenses will rise correspondingly.
Connection
The connection to chapter one is the importance of financial statements. Financial statements are elaborate reports that summarize the financial position and activities of businesses. Financial statement can be used to determine your financial situation in the past or present, it is also a good predictive material for the users of financial statement because it shows you all the relative financial information of the business. In this case, the revenue of the two Canadian airlines increased respectively on accounting of a quick economic recovery from the global recession. All this information can be obtained from the companies' financial statements and used to predict the outlook of the companies. Another connection to the textbook is the operating activities of business. A large portion of revenue comes from operating activities. The global recession affects the demand for airplanes during 2008-2009, resulting in less profit from operating activities. however, in 2010 , West Jet and Air Canada both had increased revenue on account of the higher demand for air transportation.
Reflection
This article were telling and predicting the performance based on the financial information that is showed on the financial statement from the management. If the financial statement is poor, the prediction of the analysis will not be accurate. On the other hand, the financial statement was done really well, the prediction will be good and the management can make right decisions to the problem of the analysis that they have predicted.
Summary
The article I read mentions that the airline industry has rebounded faster than expected from the economic recession in 2008 to 2009.The International Air Transport Association reported that the profit will be $8.9 million on the revenue of $560 million. Air Canada has been losing money during the first six months of 2010. On the other hand, Rival WestJet Airlines has been profitable, and it earned $34.8 million in the first half of 2010. moreover, the quick recovery of Asian economy helps boost the demands for airplane, indirectly stimulating the airline industry in North America. However, IATA predicts that there will be a decline in profit among the airline industry because of the slow-down of government stimulus spending and the high unemployment rates. In addition, as the crude oil price increases, the whole airline industry's expenses will rise correspondingly.
Connection
The connection to chapter one is the importance of financial statements. Financial statements are elaborate reports that summarize the financial position and activities of businesses. Financial statement can be used to determine your financial situation in the past or present, it is also a good predictive material for the users of financial statement because it shows you all the relative financial information of the business. In this case, the revenue of the two Canadian airlines increased respectively on accounting of a quick economic recovery from the global recession. All this information can be obtained from the companies' financial statements and used to predict the outlook of the companies. Another connection to the textbook is the operating activities of business. A large portion of revenue comes from operating activities. The global recession affects the demand for airplanes during 2008-2009, resulting in less profit from operating activities. however, in 2010 , West Jet and Air Canada both had increased revenue on account of the higher demand for air transportation.
Reflection
This article were telling and predicting the performance based on the financial information that is showed on the financial statement from the management. If the financial statement is poor, the prediction of the analysis will not be accurate. On the other hand, the financial statement was done really well, the prediction will be good and the management can make right decisions to the problem of the analysis that they have predicted.
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