Transumerism

Transumerism Rental bags are now seen as a quick and easy way for consumers to access luxury brands that they might never have been able to afford using the usual, old fashioned way of consumption i.e. retailing. This move is a direct result of a transumerism culture and attitude. Transumerism in this case refers to a trend in which consumers look to achieve temporary pleasure or experiences through the services and products they purchase.Advertising We will write a custom report sample on Transumerism specifically for you for only $16.05 $11/page Learn More Transumers prefer this kind of lifestyle because they get to escape the restrictions that come with permanent ownership (Sterba, 2009). Those restrictions may be monetary or otherwise. Renting luxury bags as is the case with thatbagiwant.com, allows a consumer to gain fractional ownership of the commodity. These individuals may be interested in keeping up with trends and opt to do so through such businesses. On the o ther hand, these kinds of trends may be brought on by environmental concerns. The leasing lifestyle allows more people to use less products or it propagates reuse of items. This in essence means less waste and fewer detriments to the environment. Alternatively, some people may be renting bags because they are simply addicted to the excitement of new things. They would rather not be bogged down by the restrictions that come with ownership so thatibagiwant.com allows them to indulge in this practice. Telis and Gaeth (1990) explain that consumers often access the quality of a commodity through its price. Consequently, expensive luxury brands are often believed to be high quality. Sellers are likely to sell these brands at relatively high prices in order to appeal to status conscious buyers. These kinds of buyers usually seek to impress others and they usually do this by expensive products (Dubois and Patrick Duquesne, 1993). However, since not all status conscious consumers have money to buy expensive products at one go then businessmen are working around this problem by offering them rental options or rent to own contracts. Eventually, those consumers can still impress others by owning designer handbags without having to part with a lot of money at once while businessmen can move their goods to wider markets. Such trends are also becoming popular because consumers also want to improve their self concept in their groups. Berry (1994) explains that sometimes products are really used to illustrate a person’s membership in a certain group. In other words, conformance to group values often causes members to feel like they belong.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Many will use a certain product to either stand out from other groups or to affiliate themselves with prestigious groups (Bearden Etzel, 1989). The reference theory of consumer behav iour is particularly relevant in understanding this phenomenon. Sometimes markets may possess several reference groups and their demands usually compete with those ones on one’s own group. In such situations, consumption trends will be dictated by the reference group rather than that group. In other situations though, people may conform to their group’s assertions and those is often the case. Usually, these opinions maybe formed through mass media i.e. magazines and televisions. When it comes to handbags, most people will associate designer handbags with an affluent lifestyle as seen through their favourite celebrities (Hirschman, 1988). They usually form ideologies about what it means to be prestigious using these stereotypes displayed on TV and the like. Designer handbags have been flaunted by many celebrities and young women from all over the country often look for prestige through such outlets. Eventually, these designer handbags become status symbols for groups in colleges and other institutions which have a vast number of young people. Most will rent handbags in order to conform to the reference group which holds such items in high esteem. This is definitely one reason why the rent a luxury bag business has become popular. Renting luxury bags has also become common owing to internal factors associated to consumers. Individuals may simply buy a luxury brand because they want to derive certain benefits from it. In other words, these consumers purchase in order to increase their level of excitement or beauty as they go along. Many luxuries have been marketed as having unique value since they are pleasing to the eye. Some consumers have heard such messages and may actually want to experience that emotional satisfaction although their major challenge has been money. Businessmen have solved this problem by offering them that same pleasure without the need to purchase it. Even low budget consumers can therefore get to enjoy the benefits of this lu xury brand as they go along changing their positions. They can therefore get partial fulfilment even though they may not have been able to in the past (Kahle. 1995)Advertising We will write a custom report sample on Transumerism specifically for you for only $16.05 $11/page Learn More Some external factors have also contributed to this trend and they include economic challenges as well as technological advancement. The UK economy had been down for some time, consequently, people needed to look for ways of saving the little money they were making. Most of these consumers may have been high end consumers who could no longer afford luxury bags after the economic slump or they may have been regular consumers who simply wanted a taste of the affluent lifestyle. Businessmen responded to this need by offering them renting options for designer handbags. These individuals could therefore keep up with the lifestyle they were used to at affordable rates. Additionally, they could do this at their own discretion and without the knowledge of their peers. Renting designer bags may also been boosted by the proliferation of online businesses. These have brought products and services to consumers who would never have been aware or who may never have thought of using them. Also businesses have benefited from the use of internet technologies by saving on overhead costs associated with retail outlets and by having an extremely wide consumer base. Most rental options for luxury bags are found on the internet so this is definitely indicative of the fact that technology has played a huge role in popularising the trend. The target market for these rental designer bags will therefore consist of fashion conscious individuals who are economically challenged. It will also appeal to transumers who have a need for excitement and new things all the time. In certain countries, the trend may work better than in others because of economic conditions (Vigneron Johnson, 1999). If economic times are tough for a while then this could offer an easy outlet for people who are trying to save up. Therefore, the trend may work in countries whose economies are on the decline. They may also be appropriate for financially stable countries which have many affluent consumers. Chances of finding transumers in developed nations are higher than in non developed ones. Some nations of the world may not understand the concept of designer handbags and such a business may not work well in these countries.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More I would not rent a bag if I was asked because of a number of reasons. If one was interesting in renting a bag for ownership, then one would not be impressed by the terms of purchase. The final selling price is definitely much higher than the cost of the designer bag. I also realise that in this arrangement, the handbag can be repossessed if I fail to meet my weekly or periodical obligations when am interested in purchasing the product; a scenario common to most lease agreements (Lacko, 2007). Furthermore, the business has no cash refundable option if one changes one’s mind about buying a bag. All one gets are some baggie points which limit one’s options to renting yet another bag. Also, if one was interesting in renting the bag alone, there could be the danger that the bags are not original designer bags. The company affirms that all its bags are retailed from top designer outlets; however, the firm has an option for renting out its customers’ bags too. Here, a member gets into the M-RTO program and they are expected to prove that they obtained the bag from a reputable reseller or they got it from a boutique which is well known. They usually do this with authenticity cards or receipts. The major problem with this kind of approach is that some resellers may not be strict about the authenticity of the bag and if that bag comes to thatbagiwant.com then chances are people will be renting non original bags from the company. This is quite a big loophole that the company needs to address in order to prevent such kinds of problems in the future (Rent a bag, 2011). If the company wanted to get my business then they should simply streamline their MRTO programme such that strictly designer bags are bought and introduced into their system. They can achieve this by making sure that they do not deal with any bags that were bought from resellers as that could the point at which the quality of their products are tarnished. Furthermore, the company needs t o improve its rent for ownership program. Customers end up paying much higher prices than normal. The company should cut down on these prices and lay it out in the website. The non refundable option should be scrapped so as to make this option plausible. Also, they should be clear about the ninety five percent buy back option. In their explanation, they assert that they are willing to buy back a handbag for as much as ninety five percent. They did not explain the conditions needed to get it at a lower rate. In the future, it is likely that luxury bags may lack the exclusivity that they possessed before if rental bags become so common. In other words, designer products will now come to the mass market and the affluent will not be such a prime target market for sellers of these commodities. However Groth and McDaniel (1993) explain that high prices often make certain products desirable because there is a quality cue linked to them. Affluent consumers may no longer treat luxury bags as high quality products if so many of them are available to the masses. Therefore, designer bag makers may lose out on the high end but will gain on the low end of the market (Erickson and Johansson, 1985). Alternatively, it is likely that the future may also record greater diversification in this luxury renting business. It should be noted that in the past, car rentals and wedding dress rentals were the staple. Now, companies specialising with jewellery, party dresses and bags have become common. In the future, it is likely that more and more categories will be added into this exciting new industry. Also, membership prices and rental costs will dramatically reduced because there will be greater competition between such businesses. It will also lead to greater levels of exposure among the population because designer brands will be more accessible (Jackson, 2005). Rental luxury brands are definitely a force to reckon with in today’s business world because they have created tota lly different markets for companies. They are also meeting needs of fashion ‘addicts’ with minimal income to spare for such indulgences. Furthermore, they are a response to the transumerism culture prevalent today. Things will definitely look up for this industry in the future because it will provide access to unreachable consumers. References Jackson, K. (2005). Renting a handful of luxury. The Boston Globe, October 13, 2005. Vigneron, F. Johnson, L. (1999). A review and a conceptual framework of prestige seeking consumer behaviour. Academy of marketing science review, 1(3), 1-17. Rent a bag (2011). Rent a bag in Singapore. Web. Sterba, J. (2009). Transumerism: What does it mean for your business? Marketing Intelligence, July 27, 2009. Lacko, J. (2007). Staff report: rent to own customers. FTC Bureau of economic report. Bearden, William O. and Michael J. Etzel (1982), Reference Group Influence on Product and Brand Purchase Decisions, Journal of Consumer Research, 9 (S eptember), 183-194. Berry, Christopher J. (1994), The Idea of Luxury: A Conceptual and Historical Investigation, New York: Cambridge University Press. Hirschman, Elizabeth C. (1988), The Ideology of Consumption: A Structural-Syntactical Analysis of Dallas and Dynasty, Journal of Consumer Research, 15 (December), 344-359. Kahle, Lynn R. (1995), Role-Relaxed Consumers: Empirical Evidence, Journal of Advertising Reseach, 35 (2), 59-62. Groth, John C. and Stephen W. McDaniel (1993), The Exclusive Value Principle: The Basis for Prestige Pricing, Journal of Consumer Marketing, 10 (1), 10-16. Erickson, Gary M. and Johny K. Johansson (1985), The Role of Price in Multi-Attribute Product Evaluations, Journal of Consumer Research, 12 (September), 195-199. Dubois, Bernard and Patrick Duquesne (1993), The Market for Luxury Goods: Income Versus Culture, European Journal of Marketing, 27 (1), 35-44.

Henry Brown Patents Safer Document Storage

Henry Brown Patents Safer Document Storage Henry Brown patented a receptacle for storing and preserving papers on November 2, 1886 This was a kind of strongbox, a fire-safe and accident-safe container made of forged metal, which could be sealed with a lock and key. It was special in that it kept the papers inside it separated, A precursor to the personal safe? It was not the first patent for a strongbox, but it was patented as an improvement. Who Was Henry Brown? No biographical information about Henry Brown could be found, other than his being noted as a black inventor. He lists his place of residence as Washington DC at the time of his patent application, filed June 25, 1886.  There is no record of whether Henry Browns receptacle was manufactured or marketed, or whether he profited from his ideas and designs. It isnt known what he did as a profession and what inspired this invention. Receptacle for Storing and Preserving Papers The box designed by Henry Brown had a series of hinged trays. When opened, you could access one or more of the trays. The trays could be lifted separately. This allowed the user to separate papers and store them securely. He mentions it was a useful design for storing carbon papers, which might be more delicate and could be damaged by scraping against the lid. They could also transfer carbon smudges to other documents, so it was important to keep them separate. His design helped ensure that they didnt come into contact with the lid or the tray above each lower tray. That would minimize any risk of damaging documents when you opened and closed the box. The use of typewriters and carbon papers at this time likely presented new challenges in how to store them. While carbon papers were a handy innovation for keeping a duplicate of typewritten documents, they could be easily smudged or torn. The box was made of sheet metal and could be locked. This allowed for secure storage of important documents at home or the office.   Storing Papers How do you store your important papers? Have you grown used to being able to scan, copy, and save paper documents in digital formats? You may have difficulty imagining the world where there might be only a single copy of a document that could be lost and never recovered. In the time of Henry Brown, fires that destroyed homes, office buildings and factories were all too common. Papers being flammable, they were likely to go up in smoke. If they were destroyed or stolen, you might not be able to retrieve the information or proof they contained. This was a time when carbon paper was the commonly used way to make multiples of important documents. It was a long time before the copying machine and before documents might be saved on microfilm. Today, you often get documents in digital form from the outset and have a reasonable reassurance that copies can be retrieved from one or more sources. You may never print them out.

Age estimation based on pubic symphysis Essay Example | Topics and Well Written Essays - 3750 words

Age estimation based on pubic symphysis - Essay Example This paper illustrates that amongst other techniques to estimate the age of the skeleton dentition is also frequently used to estimate age and at times this might be the last resort, given the complete mutilation or decomposition of the corpse This is because in such a situation   it is impossible to base any conclusions pertaining to age or identity upon other parts of the anatomy. Age estimation based on the changes within the surface of the pubic symphysis   is another method which has come to be regarded as as a reliable criterion for the estimation of age which has received much attention with in the field of forensic osteology which relates to the observation of the changes in pubic symphysis, particularly pertaining to the age related changes in adult humans between the ages of   20-50 years, which is a time when the skeleton itself goes through rapid growth related changes. Therefore morphological changes in the symphyseal surface of pubic bones have been evaluated by t he forensic anatomists through methods like Todd’s phase system for White Males McKern and Stewart’s three-component system with five active developmental stages for males Hanihara and Suzuki’s multiple regression analysis and quantification theory model be consistent in the way you list these. Suchey–Brooks phases which are more detailed for the examination of the male pubic symphysis. Based on the above this paper explores these methodologies pertaining to age estimation using morphological features of the pubic symphysis and goes onto evaluate their precision in the light of academic opinion.. Introduction As mentioned above, at the culmination of the growth process which also brings about the full eruption of the dentition growth it is possible to experience complications in the estimation of age , relying on evidence of degenerative processes. (Gilbert and Mckern 1973) .However, age estimation at death can be made from multiple methods out of one of which will be discussed below to be the symphyseal formula technique where as it has been â€Å"found that age estimates based on this single event are more dependable than similar age estimates from other bones. This technique has made age estimation from unknown skeletal remains more realistic, more accurate and more dependable.† (Parikh, C. k., 1990). There a number of techniques available with in the forensic osteology to estimate the survival, social adjustment and age of the populations based on the patterns of morbidity and mortality and these have included techniques like pubic symphysis morphology, auricular surface morphology, age-related size distribution, tooth wear, epiphyseal closure, dental eruption patterns. All these techniques are well utilized if the skeleton is still in its period of growth and development and their use may give very precise results However as soon as the growth and development process ceases. it becomes more and more difficult to give a precise assessment of the age based upon the evidence of the degenerative processes.Thus public morphology provides a good way of establishing consistent findings for the determination of age at death (mostly) of the corpse. Age is thus determined by

Cash flow Coursework Example | Topics and Well Written Essays - 1000 words

Cash flow - Coursework Example From the above hypothetical cash flow, we can see that the cash from operation $2837 million and net profit is $124 million. There is a difference between the cash generated from operating activities and net profit. It is because cash from operations includes capital expenditure, income from sales of plants, equipment and property and cash acquisitions but when we compute net profits then we deduct all the expenditures from the sales revenue. Thus the net profit and cash from operations may not always be equal. A company can earn net profit but it may earn negative cash from operations which indicate the company actually has no cash in its hand. Cash flow from operating activities can be done by using either direct method or indirect method. These methods are different from each other. In the direct method information about main elements of gross cash payments and gross cash receipts is shown as separate and the information about the receipts and payments can be gathered either from records of accounts or by adjusting the cost of sales, sales and other elements in the income statement. But on the other side in case of indirect method, profit and loss is adjusted on elements which are related to financing and investing activities and effects of noncash transactions like changes in receivables, payables, inventory, provisions, depreciation, amortisation, gains and losses in foreign currency and differed tax liabilities are also adjusted for the items (Thornton, 2012, p.15).

Foreign Cultures Essay Example for Free

Foreign Cultures Essay The problem of the students who have to learn foreign cultures or not had concerned a number of people. Some individuals advocate that the students are just need to know their own country culture.However, their are a large group of opponents have an opposite perspective. As far as I concerned,The students in college are necessary to know the foreign cultures. Most of the student will go to other countries in the future for their jobs or visit their relatives or friends. So they have to know some foreign cultures for the convenience and live without troubles. If you are a tourist on that country, and you know the foreign cultures, you can enjoy your trip. If you are working on that country, you will put more focus on your work and getting more friends. But if you don’t know the cultures of the country which you live, you will have a lot of troubles. You can not pay any attention on you major work, you will not happy because some awkward things will happen. In addition, if you familiar with the cultures of foreign countries, wherever you are you will be the person who is most attractive. A lot of people might think you are really intelligent and know a lot of interesting things and knowledge they don’t know. So you might getting a lot of friends who interest you. If you are in the foreign country, you will have live easier and smoother. to get a good job. If you want to be a teacher in the school or a tour guide, you will need this culture a lot. In the conclusion, learning foreign cultures are really helpful, they are a sort of ability that can avoid some embarrassments, and can help you getting more opportunities to make new friends and good jobs in the future.

fuel cell technology :: essays research papers

Fuel cell technology 1 Running head: FUEL CELL TECHNOLOGY: TRANSPORTATION AND RESIDENTAL/ COMMERICAL APPLICATIONS Fuel Cell Technology: Transportation and residential/commercial applications   Ã‚  Ã‚  Ã‚  Ã‚   Monique University 2 A fuel cell is an electrochemical energy conversion device. A fuel cell converts the chemicals hydrogen and oxygen into water, and in the process it produces electricity. With a fuel cell, chemicals constantly flow into the cell so it never goes dead as long as there is a flow of chemicals into the cell, the electricity flows out of the cell. Most fuel cells in use today use hydrogen and oxygen as the chemicals. Fuel cell provides a DC (direct current voltage that can be used to power motors, lights or any number of electrical appliances. The fuel cell will compete with many other types of energy conversion devices, including the gas turbine in your city's power plant, the gasoline engine in your car and the battery in your laptop. Combustion engines like the turbine and the gasoline engine burn fuels and use the pressure created by the expansion of the gases to do mechanical work. Batteries converted chemical energy back into electrical energy when needed. Fuel cells should do both tasks more efficiently. Fuel cells improve battered powered cars and gasoline powered cars more efficiently. Fuel-cell-powered electric cars are powered with pure hydrogen. It has the potential to be up to 80% 3 efficient, and with today’s gas prices that would be wonderful. The efficiency of a gasoline-powered car is surprisingly low. All of the heat that comes out as exhaust or goes into the radiator is wasted energy. The engine also uses a lot of energy turning the various pumps, fans and generators that keep it going. So the overall efficiency of an automotive gas engine is about 20%. That is, only about 20% of the thermal-energy content of the gasoline is converted into mechanical work. The efficiency of an electric car is 72% for the car, 40% for the power plant and 90% for charging the car. That gives an overall efficiency of 26%. The overall efficiency varies considerably depending on what sort of power plant is used. If the electricity for the car is generated by a hydroelectric plant for instance, then it is basically free (we didn't burn any fuel to generate it), and the efficiency of the electric car is about 65%.   Ã‚  Ã‚  Ã‚  Ã‚   4 Efficiency is not the only consideration, however. People will not drive a car just because it is the most efficient if it makes them change their behavior.

Hefty Hardware Essay

After reading Hefty hardware case study, I came up with the following analysis for this case: It is very clear that there is communication issues between the business and IT, there is no connection between the IT department and other business departments. To build good relationship between the IT Department and the Business department, the four foundation blocks needed, Competence, credibility, interpersonal interaction, and trust, which all are not considered between the departments. (McKeen & Smith, 2012). The business manager feels that the IT don’t have the enough competence for finding solution for solving business problems. And this is normal because the IT do not have the enough knowledge about Hefty Hardware business process and goals. The very important block in building good relationship between the IT and business department which is the interpersonal interaction is not available and usually the meetings getting failed because the IT people don’t understand the business talk and not ready to understand, also the business managers do not understand the technical talk when the IT start explaining the technical aspects of the solution. Hefty Hardware do not has solid foundation and good relationship between the IT and the Business department, and this issue became the main problem that Hefty should deal with it to make sure that the current and future projects will success. Also it is important that the IT department spend the enough time to explain their plan to support the business functions and make sure that they will work to achieve the organization goals. There is no information sharing between the departments or even between the executives because of the lack of communication. Information sharing will help in reach common goal which will help the organization to be more efficient and productive. Mr. Vogel suggestion was very good to have two from IT and business department travel together as this will improve the relationship between the two departments and make better understanding for the organization goals and will give them the chance to see how Hefty stores operate. The IT department seems to be understaffed and under budget, as Farzad was complaining that he cannot send some IT staff because they have a lot of work to do at the head quarter, the IT department is mainly to perform the support and keep the network and the systems stable but they don’t have the ability to think strategically. In order for the IT and the business can work collaboratively to deliver the Savvy Store program  successfully the below recommendations need to be considered: 1- Hefty Hardware should invest in building a good relationship between the IT and Business department this can be achieved by conducting team building training program where both department can interact and work together. As this will build a trusting and functional environment. 2- Developing the communication skills for Hefty employees and between the different departments, which will help in implementing successful projects. 3- IT and Business managers should work together for removing any communication obstacles to have a successful communication going. (Gartenstein, 2012). By having a weekly meetings which will strengthen the communication more . 4- Interpersonal interaction between the IT and business departments should be improved in the meetings, as most of the time the business team feel that they are lost as then don’t understand the technical points, this can be achieved by train the IT team to improve their communication skills and let then have the ability to communicate with non-technical people (which is not easy) and explain to them in simple way. Visual presentation may help in explaining the technical concepts . 5- Business team should also share the organization business needs and goals with the IT team to let them understand how is the business going and what is the goals of the company. By this cooperation, the gap between the two departments will be bridged and both teams will be able to think more efficiently in finding solutions that will enhance customer experience and will implement competitive solutions. 6- Outsourcing the projects that need to be immediately implemented and do not trouble the IT department while they are overloaded and don’t have enough staff. 7- The Time management & Planning is very important for both departments, the organization should invest in having them trained in time management and planning, which will help them in doing the work efficiently and on time. 8- Do a market research for the same industry and try to implement a competitive solutions that will be a very good advantage for the organization. 9- Hiring more IT staff as the CIO is understaffed and has no ability to accept any new system development, so as to be able to work on Savvy store program. 10- The corporate should not be disconnected from the retail shops. References: McKeen, J. and Heather, S. (2011) IT Strategy – Issues and Practices. 2nd Edition. ISBN-10: 0132145669. Boston: Prentice Hall. Gartenstein, D. (2012, January). Solutions for effective communication. Retrieved from eHow Family website: http://www.ehow.com/way_5765631_solutions-effective-communication.html. Baum, J. (2011, March 18). Team building exercises in the workplace. Retrieved from Livestrong website: http://www.livestrong.com/article/221732-team-building-exercises-in-the-workplace/.