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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.





Marketing Mix



Market direction is the crux of marketing. It explains how to satisfy the needs of the market through an understanding and reaction to local needs, which cover those of final and intermediate customers, competitors and the external environment and results in to superior performance (Narver & Slater, 1990). Because of the retail industry’s close contact with the market and customers, it makes sense to examine market direction as a tool to judge the accomplishment of Tesco.


Market direction is of even greater consequence when entry into emerging industries is carried out by a Western retailing firm, which shows that a familiar understanding and response to customer needs is important.
Tesco’s management puts a focus on customer needs because of the ‘Tesco Values’ attitude, which is stated as two values – “no one tries harder for customers; treat people how we like to be treated.” The values are distributed by an internal marketing plan, which covers dissemination of company newspaper to employees. In spite of this, these values originate from the UK and acknowledgment of a requirement for country-specific ways and local can be less important then corporate unity.


Tesco has a name for creative information solutions, and its ‘Clubcard’ loyalty scheme and web sites are critical to this. Tesco is the UK’s largest retailer and due to this has a noteworthy customer base on which evaluation can be performed. Due to the fact that many of those customers come back at weekly or similar intervals, Clubcard data and ties are both deep and wide. Appropriately, Clubcard has great promise to influence consumer behaviour in the UK. Employees are trained on the value of Clubcard, and the first opening was preceded by enthusiastic internal marketing. Clubcard is not only closely connected with business processes, but supports with the brand and brand strategy as the active manifestation of the brand’s personality and its values (Humby, Hunt, & Phillips, 2004).
There are various proportions of Tesco’s online customer experience, counting convenice of use, rate of site, significance, value, service, and product development. Tesco is consistently creating more online products to satisfy the needs of the customers. For example, Tesco has of late started offering music downloads in addition to a grocery delivery service that covers wine and white goods.


Tesco utilizes this product range to develop a robust customer experience as a customer can do a one stop shop rather than purchasing products from numerous vendors. For the online customer, convenience of operations is a key factor in their purchasing decisions. Hard work has been carried out to reduce the amount of time it requires a customer to carry out their first order. The time has reduced considerably from one hour to 35 minutes. This offers a much more enhanced customer experience.


There are three aspects to Tesco’s utilization of technology in marketing information gathering and planning. The first dimension is data collection, of which the Clubcard that could be examined at the till is a key basis. After this, ‘EPOS’ tills were mounted that could gather information from every transaction. Clubcard connects with a considerable number of corporate partners with respect to the dispersion and delivery of rewards. Tesco permits customers to obtain rewards from transactions as unrelated as travel, dry cleaning, and car maintenance. In addition, several of these activities will be carried out in the locality of the Tesco store that the customer usually uses, and from a customer experience point of view increases their relation with the local retailing community. From a customer data point of view, the chance to earn Clubcard points through partner organisations means that Tesco is able to increase its customer profiles relating to their purchasing activities to realms beyond supermarket shopping. For instance, a customer who gains points though the utilization of Auto centre is offering the data that makes it achievable for Tesco to gather data about the model of car that their customers drive.


The second dimension is customer interactions – customers can accumulate points through the scheme because of activities with different partners, and because of their online purchases. Tesco is responsible for a diversity of relations that the customer has with the name, and attempts to reward every relation. Clubcard creates a strong bond between the ‘click and brick’ (online and in-store) aspects of the business. By gathering data through both media, Tesco can without difficulty see the resemblance and discrepancies between online and offline customers, with respect to what they buy, how they react to the service and how they mix media.


In addition, data gathered through customer interactions with one media, such as in store can provide precious ideas for potential new customers, and methods to make better operations related to the creation of other media or services. Other then the basic direct marketing methods, Tesco also offers special offers to its most loyal customers. These unique offers help to tie the customer to the firm. An extended emphasis has been how to raise the frequency of customer visits. Tesco tackles this problem by sending incentives to all customers deemed dormant. The company also offers more deals to the customer ‘after the first shop after a break’ (Chaffey, Ellis-Chadwick, Johnston, & Mayer, 2008). Tesco has thus used comprehensive customer information to go further than others whose loyalty schemes only present the customer a decrease of the price paid at the checkout.




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.




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).




To label one or action as “selfless”



To many people the label altruist is likely to solve some difficult mental problem to them. Their definition of altruism is denying ones self for higher good; yet sometimes they do not imagine any person willingly sacrificing all those things that include their conception for the self for some greater cause. After all people with self-interested respect does not willingly give that self respect for anything else. Now how then can a person give accord to the actions that seems to have altruism? To label one or action as “selfless” or “altruistic” will answer this conundrum.


Altruism here is viewed as a character trait while selflessness is seen something that comes easily to somebody because that is part of how he or she work and others does not necessarily posses that same character trait. Some people having explained altruistic actions of others in terms of traits which seemingly they don’t have, need not to speculate further why altruists are motivated to do selfless acts.


This makes those people to fend off some uneasy questions which are of their personal moral duty in relation to altruist’s perceived actions. Therefore polarizing altruism and selfishness to be a personal trait can enable individuals to avoid their moral actions responsibility. Polarity between altruism and self interest will provide a rationalization for failing to be altruistic: because it is viewed as very immense, too much of a sacrifice. This explains apathy and moral laxity towards the problems facing the world.




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.




This ditochomy is not true



In most that talk about selfishness and altruism, theirs has been assumption that selfishness and altruism are polar opposites. According to those discussions to do moral thing always mean being an altruists. The moral action of the altruists is not influenced by self-interest decisions but is influenced by morally accepted decisions. Conversely selfish act is to prevent or to make impossible for a good to happen which may have been morally implicated.However this view was criticized by descriptive theory of egoism, Feinberg and psychological by arguing that moral deeds are sometimes leads to compromising self needs for other causes.


This ditochomy is not true


It is necessary to note that those who do altruistic acts are always aware of the topic and they do the topics that they feel comfortable with and that they fully identifies with. For instance, for the risk of my life I decided to support a government that will advocate for a democratic, stable and peaceful country. The big question is that what is the reason behind my selfless act and what good will I gain? In this case I will gain security in terms of physical and health securities. Also the elements of identity will rise in. That is whenever people see me they will see me as a democratic person. The point therefore is that a person’s self-identity expands beyond a person’s self interest in a very narrow sense, therefore allowing for situations where selfish action becomes a moral one. In the example above to argue that the sacrifice I have made is to achieve altruism is contradictory. Democracy is highly central in protecting myself interest and is more painful for me to give it up. Altruism and selfishness ceases to exist as mutually exclusive acts.
Assuming that there exist dichotomy between selfishness and altruism is derailing peoples moral integrity.




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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Adults presence in Thames valley police



Thames valley police is an organization operating in the fringes of the city of London which has a total of around six thousand police officers and support staff, covering an area populated by approximately two million people (Thames Valley Police, 2010). For a long time before this program was initiated juvenile delinquency was a major problem. In England young offender are defined as those aged 17 years and under (Morris, & Maxwell, 2001).


Due to the seriousness attached to the problem of young offenders in any society, especially due to the fact that every habitual offender almost always starts committing crime in childhood. This therefore means that if they can be “caught early” the level of crime in that particular society will be drastically reduced (Morris, & Maxwell, 2001). This is precisely the reason that kick-started Thames valley police in acting on the problem as a matter of urgency, a decision that gave birth to the program on the same (Thames Valley Police, 2010).


Adults presence in this case was grounded on the fact that the earlier the risk factors in young people that are likely to push them in crime are identified the more you are likely to halt their descent to criminal enterprises, and the earlier you can stop this altogether before these habits have reached certain levels or become fully instilled, the better the chances one has of keeping these children from crime and subsequently improving their life (Lozoff, 2010). In this regard some of the risk factors that were identified included illiteracy and innumeracy, criminal peer pressure, and arbitrary parental discipline (Thames Valley Police, 2010).


Since the 1970s, police in England have been dealing on youngster caught committing criminal acts on a “telling off” in the first two to three times that they have been caught (Kilkelly, 2006). This treatment has been premised on the need to obviate the likelihood of tarnishing their criminal record at such a tender age (Kilkelly, 2006). One of the things about this method that informed the decision to look for a more effective way of dealing with this menace was the realization that the traditional methods were untested and superficial thereby making them impotent in effectively dealing with young offenders. This program was therefore driven by the need to engage the youths more powerfully from committing crime and sliding into full time criminality in the following years.


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