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Economics Paper Writing Sample



Economics topic choices: The Nature of Economics, Scarcity and the World of Trade-Offs, Demand and Supply, Public Spending and Public Choice, The Macro economy Unemployment, Inflations and Deflation, Measuring the Economy~~s Performance, Global Economic Growth and Development, Real GDP and the Price Level in the Long Run, Classical and Keynesian Macro Analyses, Fiscal Policy


The nature of economics
The nature of economics discusses the distinction between macroeconomics and microeconomics. It also discusses the elements of an economic theory and model. Economics has ultimate relationship with consumer behavior; it works parallel to consumer choices as if they start demanding any commodities then its prices would hike up. It is economics, which highlights the importance of mass production conception, selective production, and market based production concepts.


Scarcity and world trade off
Scarcity is inability to generate satisfaction as of poor availability of resources. It is common thinking among economists that everything is getting scarce day by day. Individuals haven’t been changing their preferences and selection criteria. Price increase of product is one good example of scarcity as one product get scarce then its price is to be hiked up to manage the demand mechanism.
Trade off is a situation that involves losing one quality or aspect of something in return for gaining another. People don’t embrace new features if old ones have been satisfying their needs in better way. This welcomes to scarcity conception. Such consumer behavior always causes price increase in commodities. Eventually, consumers have to pay little more to fulfill such needs.


Demand and supply
Demand has reverse relationship with supply, if demand increases then supply will be in less amount. Similarly, less supply of products become the reason of the increase in demand. Eventually, increase in demand causes prices to be hiked. Customers have to pay off a bit more to satisfy same needs, which used to be satisfied by paying less in older days. For instance, petroleum prices have been continuously increasing up as of fewer supplies of petroleum products. International petrol markets have been deliberately using this fundamental concept.





Structure of the report



The research report will incorporate certain chapters and these the description of these chapters are listed below:


Introduction
This chapter will incorporate the basic marketing terminologies that are related with this research and it would also include the background of the research. In the similar manner it can also be said that this section set up the scene for the dissertation and gives the general context that is used during the whole discussion.


Literature Review
This chapter would focus on the literature analysis that is closely related with Tesco and other small retail outlets operating in United Kingdom. Emphasis is laid on the marketing strategies and terminologies that are closely related with the aspect of marketing. This chapter will incorporate the secondary sources and these secondary sources will give abundant knowledge so that the hypothesis can be accepted or rejected.


Research Methodology
Emphasis is laid on this chapter because this chapter will discuss that what research strategy will be used to carry out the research. This chapter will focus on different areas of research and incorporate the benefits and limitations of the research. In the similar manner the primary research analysis is also incorporated in this research.


Findings and Analysis
This chapter would focuses on the results and the findings of the research. The findings would primarily focus on the secondary and primary sources. In the similar manner it can also be said that empirical findings and results are actually analyzed in this section.
Conclusion and recommendations


This will be the final chapter of the dissertation this section presents the conclusion of the entire thesis and recommendations following references and bibliography, appendix, abbreviations used in this report.





Tesco: An Overview



Researchers and strategists actually claim that Tesco actually works on the principle of aggressive marketing techniques that are applicable in both the short and the long run. It is the strategy of Tesco that have actually made Tesco the best retailer in the world. Their retail strategy is quite distinct with other retailers. Tesco is considered as a champion retailer and they have shown greater energy and responsiveness to certain volatile marker places and that is the reason why different retailers and have felt this pressure of the champion. Their strategy is actually the core power of this mega brand. The main strategy of Tesco is that they focus on scenario of customers and that is the reason why they have excelled in both the short and the long run. They also work with the simple strategy that is what you actually see in the shops is what you exactly get in the stores (Heller 2005).


Marketing Strategy at Tesco
The market orientation is one of the greatest factors in the development of the strategy and the management of Tesco plays an important role and their philosophies is based on the scenario that no one tries harder for customers and treat people how we like to be treated. The values of this organisation are actually created because of the internal marketing strategy of this organisation and this also includes the distribution of newspaper to the employees (Anthony 2008). Different schemes of this organisation are viable in both the short and the long run and the employees kept in their mind that they are working for the biggest retailer that is the reason why the strategies that are created should be viable in both the short and the long run. The staff of this organisation is briefed about the importance of Clubcard and that is the reason why internal launch was initiated with the internal marketing (Humby and Phillips 2004).


Purpose of this research
The entire research is focused on the scenario that what is the actual impact of Tesco Marketing Strategies on small retail outlets that are operating in the United Kingdom. In the similar manner emphasis is laid on the scenario that how these small retail businesses adopt strategies in order to face the mammoth marketing strategies of retail giant Tesco. Emphasis is laid on the core marketing strategies of both Tesco and several small retail outlets. The research is based on qualitative analysis and the strategy of questionnaire is used extensively to check the hypothesis. In the similar manner it can be said that the core purpose of this research report is to identify the marketing and strategies decisions that are taken by Tesco and other organisations. However, it can be said that the core aim of this research is based on the scenario that what are the short and the long term effects of the 4P’s of Tesco on other small retailers in north London UK.


Scope of the research
The scope of the research is limited towards the marketing strategies of Tesco and certain other small retail outlets that are operating in the United Kingdom. In order to evaluate their effectiveness emphasis is laid on the secondary research and that s the reason why it can be said that emphasis is laid on the secondary research and qualitative data is analysed in this research. It can also be said that in order to check the effectiveness of this research this research will incorporate the primary data and responses of retailers will be analysed. However, it can also be said that the scope of this research is limited to North London UK.


Research Questions
There are certain research questions that are be analysed in the dissertation and these research questions are answered in the findings and analysis chapter of this dissertation. The research questions are listed below:


1. What are the effects of Tesco’s price marketing strategy on small retail businesses that are operating in North London?
2. What are the effects of Tesco’s product marketing strategy on small retail business that are operating in North London?

3. What are the effects of Tesco’s promotional marketing strategy on small retail business that is operating in North London?
4. What are the effects of Tesco’s Place marketing strategy on small retail business that is operating in North London?


Hypothesis of the research
The hypothesis of the research is Tesco’s marketing strategy is creating difficulties for small retailers of United Kingdom and they are unable to target the customers in an effective and an efficient way. The hypothesis will be tested through both secondary and primary researches and through proper research the hypothesis will either be accepted or rejected.




The Malaysian Operation



The plan of developing market share for goods external to the usual supermarket arena has resulted in Tesco excedding Sainsbury’s to become the biggest supermarket in the UK, and it now holds over a quarter of the market (Strategic Direction, 2005). In 2008, Tesco began to offer its first in-store order-and-collect service as it tries to compete with Argos, the current leader the catalogue sector. The new service was evaluated at Tesco’s Cribbs Causeway store (which is utilized as a laboratory store for testing new products and services) and has since been extended to other locations as well. Tesco has also begun to offer a collection of software products for home or office use that competes directly with offerings from Microsoft. Tesco Complete Office comprises two security/antivirus products, a personal finance program, a DVD-writing tool, and a photo-editing application and is sold for less than £20 compared to Microsoft Office 2007 which sells for £45.


Tesco has in the recent past begun to offer the ‘Discounter’ product range to be able to compete with the supposed threat of Aldi and Lidl. The discount supermarket sector has benefited from recent economic havoc as increasing food costs have brought more people to their stores. 80% of Tesco’s sales come from regions in which Aldi and Lidl are not to be found. Commercial director Richard Brasher recognizes the “centre of gravity in the marketplace” has shifted (Ritson, 2008). The test in the future is to stay away from the problem of becoming stuck in the centre of the market when consumers are trading down. However, it might be argued that fighter brands produced to cater to a specific competitor tend to fail as they take over the owner’s higher-priced products instead of taking share from their intended target. Of course it is uncertain how successful this product range has been at stopping customer switching away. In the past three months, £22m of spending shifted from Tesco to Asda, with another £10m moving to Morrisons (Wearden, 2008).


Tesco has also recently carried out substantial social marketing initiatives, such as the opening of a flagship environmentally friendly supermarket in Wick, which has wind turbines, a mechanism to collect and use rainwater, energy-saving cooling and cooking equipment and low-energy lighting. The store is made to produce half the ‘carbon footprint’ of comparable sized traditional supermarket. Examining the value in environmentally conscious initiatives can decrease costs and make customers happy. However, as Tesco tries to form a name as a solidly price-conscious retailer the choice to chase green initiatives may send out confusing messages and this strategy should be investigated when the majority of its customers are lower middle to middle class and are altering their concerns in the current economic situation.


There are three aspects that guide Tesco’s strategic behaviour with regardi to internationalisation. First, purchasing successful companies is key to their scheme of overseas expansion, with greater progress into growing markets from the 1990s onwards. Tesco entered Asia in 1998 with the buying of a majority stake in Lotus hypermarkets in Thailand, and more developed operations in the area when they entered Malaysia in 2002, Japan in 2003 and China in 2004. The Malaysian operation was set up as a joint venture with a local company Sime Darby Behad. Tesco owns 70% of the shares, but the concernis under local control. In China, Tesco entered a similar contract with Shanghai Hymall. Tesco purchased into successful companies with local operational knowhow and set up market share and its expansion strategy hope for eventual market domination.


The second aspect relates to market selection. Tesco opted to enter into markets (Eastern Europe and South East Asia) where local competition was malleable, away from other increasing giants such as Wal-Mart. Tesco also adapted to opportune events, and took on different entry modes in order to create knowledge.




Religion and cultural differences



Religion and cultural differences can also mess up a progress of one’s health when in hospital. For instance, Tabrizi does not want to take the hospital’s food because he not sure if the food has pork or not. His religion does not allow him to eat pork or pork products, so, he feels it is safe not to eat the food at all. Mr. Tabrizi still refuses to eat despite the fact that the chief nurse urges him to do so for his own health. This serious problem affects many patients in hospitals. Another example is that it may be difficult for a female Muslim to disrobe in the presence of a male doctor, even if it is necessary.


In addition, some African beliefs and cultures do not allow making eye contact or even questioning an authority person, it is disrespectful; yet, a doctor just needs a confirmation from a patient through eye contact or questioning. A part from poor quality and unsafe treatment, miscommunication and cultural differences can lead to some problems. One of these problems is that the cost of health care can go up because of miscommunication and cultural differences.


For example, if a patient does not understand the doctor’s language, or understands very little, the doctor may need to do more tests to come up with diagnosis. All the tests need money; therefore, the patient will have to pay more than the one who communicates effectively, since an effective communication will lead to a faster diagnosis (Lindh & Pooler, 2009).




Self-interest based in moral theory



Usually people do things of higher cause that they feel are so identical to their self-identity. They undertake risks on things that negate their self concern. Everything they do is meaningful to development and more so actualization of self identity. They would rather work on their ability to perspective-take so as to maintain their identity on the individuals they are doing well to; rather than work to deliver good on people which they can’t identify with. Self-interest should not be defined to include only the need for bodily material but should include anything that a person’s personal view to be necessary for his or her meaningful existence. Given that everybody has different conception of what their meaningful existence depend on, hence making conception about self-interest to vary tremendously between different individuals.


Self-interest and identity conceptions are not personally speculated; quite a number of researchers and many theorists have supported the belief that a person’s self-sense exceed just the need for physical body. For example psychologists Susanne Cook-Greuter, Jane Loevinger, Carol Gilligan all present detailed research showing that an individual conception grows with time. Moreover these development researches also show that person’s self-identity growth is directional. Thus people grow in experience and also self-identity all through their life; theoretically they should always be seen as being in their own self-interest, acts that other people may view as being selfless and altruistic.


Philosopher Jeffrey Reiman looks at the concept of self-identification in the moral realm. These can make one to say that increased exposure to other people and different other perspectives makes an individual to increase his or moral capacity. However the difference that exists between self interest and altruism is too all entrenched and is unnecessarily limiting of conception about moral behavior by persistently linking moral action to unnatural self-sacrifice of any sort. There altruism even in animals inform of one animal risking or sacrificing its life for the survival of the other animal. For example the research done on animals by researchers such as Hamilton where bees sacrifices themselves in order to allow the queen to produce off-spring are explaining altruism.




Emmanuel Kant



Aristotle also views ethics as the force that holds human society and civilization together, since it is ethics that controls the dynamics and reality of human nature. To Aristotle, man and his nature is a trifurcation of the vegetable, the animal and the rational elements. The vegetable elements include the physical aspect of man, and his metabolism, whereas the animal part consists of the appetitive and emotional aspects. The rational part of man on the other hand includes the mental and conceptual aspects of man (Colman) .


According to Aristotle Ethics should allow for the measurement of extremes, for instance, as an ethical concept, courage is seen as the moderation of recklessness and fear. Aristotle sees ethics as a very important factor in the society and suggests that man should not just simply live, but does so well and in conduct that is bridled by moderate virtue. Nevertheless, many see the actualization of this dictum as being so difficult, given that the virtue that is being referred to entails practicing that which is right, at the right time, with proper motivation, for the right reason, to the right party, to the appropriate extent and in the correct manner (Hughes) .


Emmanuel Kant


He did his works between April 22nd, 1724 and February 12th, particularly, it is vital to note that Kant was mainly interested in deontology, as an ethical approach that asserts the rightness or goodness of an object, an element or an idea. As such, Kant postulates that it is better and more accurate to observe the rules and duties that are related to the action. It is due to this reasons that Kant’s philosophy on ethics is seen as being deontological.


Kant asserts that, “To act in an ethically upright manner, an individual must have acted from duty,” Kant went ahead to illustrate that it is not the consequences of the actions carried out that makes an act right or wrong, but the benefits received by the majority. The Kantian point of view on ethics maintains that, “Elements deemed to be good, such as pleasure, intelligence and perseverance cannot be counted to be taken to be intrinsically good, or in the absence of qualification” (Kant) .


While intelligence can be used by an individual to harm others, pleasure can be derived from watching other people languish in poverty and misery. Perseverance may also be used as a weapon or a stratagem employed by an individual against his perceived enemy. As such, all these are constructs that are good by the look at the facade, but in reality, they portend actions that are ethically worse.


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