Discussions Essay Example | Topics and Well Written Essays - 500 words - 8

Discussions - Essay Example The Roman Empire was extensive, but eventually in the 3th century ethnic and cultural forces divided the empire with the blessing of the imperial government into two political entities (Bentley, Ziegler, and Streets 67-78). According to Heather and Streets (2003), the Byzantine Empire owns is birth and transformation to Justinian. The empire in his time became different from the Roman political system and was replaced with new bureaucracy having power in royal palace over the ancient senatorial system. In the 7th century, the Greek language became official language of the state (Bradie and Michael 43-44). The Greeks continued to use a title of the Roman Empire for long time, nonetheless. But with the emergence of the Charlemagne who became the emperor of the large Frankish empire, the Greek descendant stopped to be seen as the continuation of the Roman Empire. The â€Å"byzantine term is rather new; nonetheless, since the 800 onward, the non-Greek world following Rome and Pope considered that restoration of the imperial title to the Frankish kings used own term on Greek state†. For example the 9th century writers and historians from Central and Western Europe refer to various monarchs of the Con stantinople as the emperor of the Greek (Sanders, Nelson, Morillo and Ellenberger 33-55). The empires loss of territory was offset to a degree by consolidation and an increased uniformity of rule. The emperor Heraclius fully Hellenized the empire by making Greek the official language, thus ending the last remnants of Latin and ancient Roman tradition within the Empire, Heather and Streets (2003). Islam means submission to Allah (God). Islam was revealed to the â€Å"Prophet Muhammad who lived from 570 CE to 632 CE in Mecca in modern-day Saudi Arabia. Muhammad was called to prophet-hood when God dictated the Quran to him through the archangel Gabriel† (p. 132). Two years later, in front of the Kaba in Mecca, he declared Islam the religion of the

The America Story Term Paper Example | Topics and Well Written Essays - 750 words

The America Story - Term Paper Example There are also other stories like the slave trade and it abolishment, the confrontation that existed between the Southern and the Northern States as well as the civil war of 1861-62. Moving into the nineteenth century, there are a plethora of stories about America, Their involvement in the First and Second World War and later Cold War with Russia, the civil movement in the US over discrimination led by Martin Luther and on the other front by Malcolm X (Foner and John 46). The spread of capitalism ideology to counteract the Communism spread by the Russian, there rise to World super power and the ensuing rivalry with USSR. These are just some of the stories that make part of the American story, throughout the movie reviews in our learning modules; I have considered some of the reviews to be American history by virtue of their contents. One of the movies that were reviewed had its central theme being the slavery in America, in deed, slavery is one of the stories America is widely known for, it explains the presence of the Blacks in most of the southern States of the US. During the Agrarian and industrial revolution, there were high demands for raw materials and labor to meet the escalated demands at the time. The US then engaged in slavery to obtain extra human resource that would be working in the farms and the industries, this activity continued in the US until mid of the nineteenth century when others considered it unproductive. The different views that were held in regard slavery necessitated the civil war in the US that was fought in 1862 between the Southern and the Northern States. Historically, Northerners were industrialist while the Southerners were agriculturalist; this classification made the Southerners to engage in slavery that the northerners, slaves were used in the farms as well as to run other errands that were related to agriculture, land was owned by few people while the rest were landless and had no right to own land. This meant that there was a few demand for the industrial goods that were made then, this did not augur well with the Northerners who wanted the feudal land policy to be done away with and slavery stopped in the hope that market for their products will be enhanced (Foner and John 56). From the movie review, it can be seen that Thaddeus Stevens were against the new rule that stopped slavery since it was going to hinder his progress economically, they wanted to prolong slavery, but Johnson’s plan to stop slavery could not be avoided. This move was vehemently resisted by pro slavery and sparked a fight between the Northern states and the Southern States popularly known as the civil war. Even Lincoln himself before being elected vowed not to stop slavery in the US but later while serving as the president, he saw the need to facilitate its abolishment. Like in the movie Kate Stone and her mother were almost rendered bankrupt after the war that fought slavery, they had about one fifty slave but were eventu ally left with none. It was a protracted struggle to abolish slavery and even after the abolishment, blacks were still being discriminated against and this led to the rise of civil movement in the US. Slavery and its consequences are part of the rich American story that cannot be avoided; in fact, the history of the US is not complete without talking about the slavery and the later civil movement that was witnessed in the nineteenth century. Following slavery in the US, it is interesting to note that other states did not approve it and was thus outlawed. In some cases when one moved from one state that approves slavery to the other that do not, they were forced to free the slaves. In the constitution of the US, slavery was not

How can a firm use social media in branding Research Paper

How can a firm use social media in branding - Research Paper Example This study looks into Apple Incorporation as a big name in the computer and electronic industry. The company is known for its continuous innovation and innovative products. Apple is famous for the different ideas and strategies in comparison to the competitors and as a result create a clear edge competitive advantage in the market. In this section, the social media marketing strategy of Apple has been evaluated along with the explanation of the consumer issues and needs. Social media marketing is gaining popularity rapidly among different organizations. It has taken important place in the Integrated Marketing Communication (IMC) strategies of the organizations. Social media marketing allows the organization to communicate and interact with the target market in more easy and convenient manner. Different social media sites and blogs provide the organizations with the platform to interact with the customers directly. These social media platforms also allow the customers to raise any que ry or issue related with the products of services of the organization. Owing to the high importance of social media marketing, it is being used by almost all organizations as a branding tool in order to formulate and communicate the brand image and identity. The brand image and brand identity of any organization or product is directly dependent on the perception consumers built about that particular product or organization. In this regard, the online presence of the organization contributes towards formulating consumers’ perception. ... Social media marketing allows the organization to communicate and interact with the target market in more easy and convenient manner (Mangold & Faulds, 2009). Different social media sites and blogs provide the organizations with the platform to interact with the customers directly. These social media platforms also allows the customers to raise any query or issue related with the products of services of the organization. Owing to the high importance of social media marketing, it is being used by almost all organizations as a branding tool in order to formulate and communicate the brand image and identity (Chan-Olmsted, 2011). The brand image and brand identity of any organization or product is directly dependent on the perception consumers built about that particular product or organization (Hawkins & Mothersbaugh, 2009). In this regard, the online presence of the organization contributes towards formulating consumers’ perception. Apple Incorporation has been coming up with di fferent marketing and promotional strategies in order to attract more and more customers. However, it is important to acknowledge here that the social media marketing strategy of the company has been under serious criticism by different analysts and also the customers. The management of Apple has been only focusing on maintaining the online presence through the itunes and Apple Application store. The main focus of the organization is on the different innovative and high quality electronic products (Subramanian, 2010). Apple does not have any official facebook fan page and twitter account. Although, Apple maintains some discussion forums, which are for replying to the queries and questions of the customers, but unfortunately the staff and employees at

Financial Markets - Understanding Stock Option Information Essay

Financial Markets - Understanding Stock Option Information - Essay Example â€Å"Technical analysis is the study of specific securities and the overall market based on supply/demand relationships.† (Page 1, International encyclopedia of Technical Analysis, Joel G Siegle, Jae K Shim, Anique Quereshi, Jeffrey Brauchler.) Charts and Graphs are the technician’s tools. They interpolate data and decide using graph trends, volume count, and 50 and 200 day moving average charts. To understand patterns one must observe carefully the breadth and movement of the market. Understand how accumulation or distribution (Accumulation, the buying of stock, distribution is the sale of stock.), forecast the future expectation of stocks or options. (Ascending and Descending tops P. 15 International Encyclopedia of Technical Analysis Page 15 and 16,), these illustrations show ascending and descending price top transitions, from time period- to- time period, that trail stock directions. Volatility charts show extremes —specifically, option volatility charts sh ow relationships between puts, calls, strike prices, and expiration dates. Assumption associations are derived from historical patterns, price patterns, and supply and demand relationship. Historical relationships signal the likeness of direction, whereas, price patterns point to quantity of decrease and increase. â€Å"Market factors (Interest rate changes, economic conditions, political factors, announced pending acquisitions.), are already incorporated into current market price per share. If demand exceeds supply, the stock price will increase, and vice versa.†

Animal Rights Opinion Essay Essay Example for Free

Animal Rights Opinion Essay Essay To have a liable viewpoint on the topic of Animal Rights, one must practically have the abilities of a well-practiced philosopher. You must be able to fully evaluate the characteristics of every possible relationship, good or bad, between man and his fellow members of the Animal Kingdom, and their potential outcomes. You must also decide if you believe in human exceptionalism, that is, whether or not we are equal to animals. â€Å"A rat is a pig is a dog is a boy. † Says Ingrid Newkirk, head of PETA, in 2003, â€Å"They are all mammals†. Other individuals, however, such as Wesley J. Smith (2010), believe that this attitude will devalue the â€Å"the unique status of humans†. Everyone has their own take on this topic, and, if we resolve this in a civilized and orderly fashion, we can potentially have a perfect balance between humans and the world’s diverse flora and fauna. Across the globe, there are hundreds of organizations that are constantly fighting for the equality of animals, and the elimination of their mistreatment. Some of the bigger names include the World Wildlife Fund, (WWF), and PETA (People for the Ethical Treatment of Animals). These groups rally, lobby, and petition against criminal acts against practically every species of animal, and believe you me they have their hands full! In some laboratories, primates are being rigorously forced through difficult tests, and on some farming facilities belonging to today’s big corporations, such as the large restaurant chain known as Kentucky Fried Chicken (KFC), animals are being harvested in an inhumane manner. Among the worst cases is the solicitation of â€Å"crush films†, in which puppies and small, cute animals are â€Å"slowly crushed or impaled by women wearing heels,† reports David Michael (2010). These videos were banned in 1999 by the Supreme Court, until the federal law had overreached, and the law was overturned. These acts are clear examples of cruelty towards animals, and can never be truly justified. If we take the rights steps, in a warranted and honest manner, then we can stop animal abuse, and save future species from an unruly and unjustified future as slaves to man-kind. There also exists a whole other group of people who believe that life is just a game of the survival of the fittest, which is similar to the point of view of Wesley J. Smith, author of A Rat Is a Pig Is a Dog Is a Boy: The  Human Cost of the Animal Rights Movement. He, and many others, believe that â€Å"valuing humans over animals is a form of discrimination† against humans, which he describes in his new book published in 2010. He also tells us that giving animals the same legal status takes away from who we are, as the dominant species of Earth. I personally, do not believe this is completely true. We moved these creatures out of their homes to build our houses and buildings, and then polluted them with the carbon outputs of our cities and towns. This makes it our responsibility to help them find new homes any way we can. On the other hand, he did mention something I could partially relate to. â€Å"Humans do indeed have a moral obligation to promote animal welfare, but they are also entitled to use animals, particularly if the use of animals alleviates human suffering.† I can get behind this statement to some extent. There are hundreds of scientists using animals to research possible cures for certain diseases that affect thousands of humans daily. However, harming these animals would be completely unacceptable. We could use alternative solutions, like observing animals in their natural habitats, if possible, and study them there, or at least let them go, unharmed, after the experiment is completed. Although many groups and individuals are taking the right steps to put an end to this epidemic, not everyone likes to play by the rules. There have been numerous cases of arson, theft, and animal right activists terrorizing companies that test on animals. In fact, â€Å"fifty-one out of fifty-eight of the incidents of domestic terrorism identified in the FBI’s report Terrorism 2002-2005 were suspected to have been perpetrated by animal rights activists,† claims Smith (2010). â€Å"Which is surprisingly violent for its (animal rights movement) allegedly non-violent goals,† agrees David Michael (2010). Some of the more extreme cases include lighting entire laboratories on fire, death threats, and, in 2007, a researcher’s children being sent HIV-infected needles in the mail. Even PETA is not completely innocent of such acts. In 1995, they donated over $45 000 to the defense funds of Rodney Coronado, who was guilty of burning down a Michigan State laboratory. PETA finds these are â€Å"acceptable crimes†¦when used for the animal cause,† says Alex Pacheco, a co-founder of PETA. They also compared animal cruelty to the Holocaust in one of their many campaigns, to get their message across crystal clear, which offended many members of the public, and therefore raised many eyebrows. I believe that we must find was  to eliminate animal abuse with this ‘militaristic’ component. In conclusion, I believe that, a long time ago, before man first started his evolutionary track, a balance of rights and respect between our kind and the rest of the world’s fauna existed. However, as we evolved, this balance shifted into our favor. We became the dominant exception in the Animal Kingdom, removing inferior species from their homes, either by enslaving or killing them. This behavior is unacceptable, and must be stopped, because of its excessive injustice towards animals. I also believe that organizations like PETA are on the right track. In order to make change, we have to fight for it, but to certain extents. Arson and burglary are deplorable, and will only make the problem even worse. We must deal with these issues in a civilized and organized manner. Burning laboratories simply won’t do. Once these steps are taken, and if we are able to treat animals with the respect and value, we will be able to coexist in harmony with the rest of the Animal Kingdom, and the balance we once had can be restored. Works Cited Michael, D. (2010, July 21st). Animal Spirits. Retrieved July 30th, 2010, from the Book: http://www.tnr.com/book/review/animal-spirits

Exam Study Guide Essay Example for Free

Exam Study Guide Essay Attitude is determined by beliefs on performance of the attribute and importance of that attribute To change their attitude on a brand/competing brand change their belief on attribute and their perception of the value of that attribute and add a new attribute to the mix. Classical Conditioning vs. Operant Conditioning vs. Psychoanalytic Research Classical Conditioning (Association) using an unconditioned stimulus to generate an unconditioned response which eventually becomes a conditioned response to a conditioned stimulus Pavlov’s Dog Operant Conditioning (Instrumental) behavior is followed by a positive or negative consequence which determines probability of behavior reoccurring Use positive reinforcement to encourage behavior Psychoanalytic Research (Freud) motivation to purchase is determined deep in subconscious mind Need qualitative research- in depth interviews, focus groups, etc. Source Attributes Power Ability to reward or punish recipient through their perception of source’s power based on recipients perceived control/scrunity/concern of the source over them Can induce to respond to their position Credibility Expertise (experience,skill) trustworthiness (honest) Attractiveness Similarity btwn source and recipient Familiarity through repeat exposure Likeability through affection for source caused by looks/behavior/traits Elaboration Likelihood Model Ways consumers change/form attitudes in response to persuasive messages Routes to attitude change Central highly motivated/able to process message, pays close attention Peripheral less motivated/able to process message, pays attention to peripheral cues not message Ex. An attractive endorser Meaning Transfer Model Celebrity effectiveness as endorser dependent on meaning culture has associated with them and how they are brought into the endorsement process Ex. Status, class, age Stage 1: Culture Objects/persons/context popular to culture transferred into meaning associated with popular celebrity Stage 2: Endorsement Cultural meaning of celebrity Celebrity transferred onto Product Stage 3: Consumption Product is consumed by consumer transfer meaning of product onto consumer Consumer Decision Rules Simplified Heuristics rule of thumb used to make quick decision Affect Referral Decision Rule overall impression instead of detailed comparison Non- Compensatory short cut to making a choice, a product with low standing on one attribute can’t compensate by being better on another attribute and is eliminated Compensatory allow product to make up for lack on one attribute by being better at another Response Hierarchies Traditional Hierarchy of Effects Alternative Response Hierarchy FCB Planning Model Traditional Hierarchy of Effects Model Stage 1: Cognitive Stage (Learn) Awareness Knowledge Stage 2: Affective Stage (Feel) Liking Preference Conviction Stage 3: Behavioral Stage (Do) Purchase Alternative Response Hierarchies Based on level of involvement in purchase and perceived level of differences in alternatives Learning Model High involvement, high differentiation- learn then develop attitudes then behave based on Cognitive (learn) Affective (feel) Conative (do, action) Dissonance/Attribution Model High involvement, low differentiation- behave first then develop attitudes then learn/process the behavior Conative(do) Affective (feel) Cognitive (learn) Low Involvement Model Low involvement, both high and low differentiation- learn first, then behave, then develop attitude Cognitive (learn) Conative (do) Affective (feel)

A pizzeria business plan

A pizzeria business plan Executive Summary This is a business plan for a Pizzeria based on producing a differentiated product in a premium location. The objective is to differentiate the operation from any other restaurant operation based on the concept of superior quality food based on the exclusive use of premium natural ingredients for every element of the product delivered from a conventional cheese and tomato pizza to the unique menu items. At the same time the operation is such that its environmental footprint is minimized and it operates in a manner that maximizes social responsibility in every facet of its operation. Pricing relative to other Pizzerias will be premium, but compared to most of the restaurants in the same quality bracket very competitive. The longer-term plan will involve additional Sofian Eat restaurants on either an owned or franchised basis or a combination of the two. This initial plan is for the pilot operation, which will serve as a model for future openings of Sofian Eat. Essentials to success The planned operation is a restaurant. The underlying keys to successful restaurant operation are good food served in a clean and pleasant atmosphere. These are a ‘given in any successful restaurant, but in themselves are not sufficient to create any great success. â€Å"Positioning is an underleveraged restaurant marketing component. Positioning is the place you hold in the customers or prospects mind relative to the competition (the cheaper choice, the higher quality choice, et cetera). Effective positioning involves incorporation of your Unique Selling Proposition (U.S.P.).†[1] (Quantified Marketing Group, 2010) In Sofian Eat success will depend on creating a unique â€Å"product† based on the publics concern for the environment and the wholesomeness of food. This will be incorporated into a unique ambiance and menu that will provide a dining experience that hopefully customers will enjoy and wish to repeat. An important element in the overall concept is that because Sofian Eats is dedicated to concepts concerning the environment and natural food, which the client is aware of and approve, they will have an underlying â€Å"good feeling† about what they are doing when they enjoy a meal at Sofian Eats. In Principles of Marketing Dr. Philip Kotler uses the fast food industry as an example of marketing being used to sell. â€Å"Shoddy, harmful or unsafe products†, and bemoans the fact that this American approach to restaurant marketing is catching on in Europe.[2] The marketing approach used in this project is unashamedly copied from another American Company, Ben Jerrys Ice Cream that takes a totally opposite approach.[3] While not as successful as McDonalds, Ben Jerrys built a business from a single tiny location to a major company and the founders finally sold the company to Unilever in 2000. 1.0 Terms of Reference 1.1 To 1.2 From These three items are not ordinarily a part of a business plan, and I am not totally clear on what is wanted here. Clearly, I cannot fill in â€Å"to and from†. I suspect that the three items involves only a few words with the possible exception of â€Å"terms of reference†. I will gladly write something for you about this as a revision if you can tell me what it is supposed to do. Thanks. Your writer 1.3 Business Plan (Sofian Eat) The plan is for a pilot restaurant in what is hoped will become a chain or franchise operation in the long term. This plan is based entirely on the pilot project and does not include any discussion of possible future developments or expansion into additional locations. Decisions concerning this will be made based on the success of the pilot project and what is learned by operating what is planned as a unique style of restaurant operation. 1.4 Date handed in The due date of the project is 18 March 2010. 2.0 findings The research findings are based on the work of Kivela, Inbakaran and Reece[4] and Quantified Marketing Group[5], which seem to support each other closely. The consensus is that restaurant marketing is difficult, and to be successful requires very careful research and analysis. A part of the problem is that restaurateurs are just that and not professional marketers. They know how to operate a restaurant but are not ordinarily knowledgeable in modern marketing techniques. This can be considered a positive element as it potentially provides an entrepreneur that is trained in marketing a competitive advantage. The suggestion is that conventional marketing using mass media is not practical while so called neighbourhood marketing is. Invest marketing funds in persuading customers to spend more per check and return more often. 2.1 Market research The questionnaire and research approach were based on the work of Clark and Wood.[6] (Clark Wood, 1999) Their work implies that the quality, range and type of food are key determinants in consumer loyalty. Their work also suggested the nature of the target clientele of the operation. A summary of the finding of the limited sample of 25 street interviews in the target neighborhood is presented below. The questionnaire is included as an appendix. What we see in the market research is a demographic pattern that is almost ideal and emphasis on the quality of the food and variety of menu offerings as criteria for restaurant selection. The emphasis on the mid price range and above is also the target market sought. There was no pattern in the response to favorite restaurant with only one being mentioned twice and the others all individual choices. The most common response to the why is it your favorite centered on the combination of good food and pleasant atmosphere. The only surprise is that five respondents indicated that a personal relationship with the proprietor was an important factor. 2.2 Location 142 Cowan Street, Kensington, London SW1. (This is obviously a fictitious street location) 2.3 Competition The competition broadly defined is any and every restaurant or eating establishment in London, and eventually anywhere a Sofian Eat is opened. What is planned is the creation of a unique â€Å"niche† where the competition will be limited or non-existent. 2.4 Objectives mission statement The Mission of Sofian Eat is threefold: The social mission is to operate the company in a manner that recognizes the role played by businesses in society. It will facilitate this goal by developing original and innovative approaches to improve the quality of life in the areas in which it operates The product mission is to produce the finest quality all natural pizza and innovative new culinary creations. The commitment of the business is to incorporate only wholesome natural ingredients and promote business and culinary practices that respect the earth and the environment. The Economic Mission is to operate the business on a sustainable financial basis of profitable growth and expansion. This will increase the values for stakeholders while it expands opportunities for the development and career growth of the companys employees.[7] 2.5 Business name The business name will be Sofian Eat 2.6 Legal Structure The initial public structure will be a corporate structure created with the longer-term objective of selling shares in a public offering at some point down the road. 2.7 Marketing Plan The marketing plan will be based entirely on product differentiation. Any attempt to create a marketing plan based on price competition in conventional pizza or Italian food is doomed to be at best a â€Å"me too† operation. There is no shortage of pizzerias or ethnic restaurants in London or almost anywhere else. The underlying marketing plan is based almost entirely on differentiating the product and the restaurants in which it is served from the competition in terms of the restaurants dà ©cor and ambiance and the menu. The long term objective is to create a â€Å"brand† that will be difficult to duplicate and will present an immediate â€Å"picture† in the mind of the consumer when they think Sofian Eat. The fact that this operation will have a formal marketing plan is in itself a competitive advantage. A marketing consulting company, Quantified Marketing Group, has an extensive and professional discussion of restaurant marketing tactics. While there is little relevant academic research on restaurant marketing this source is a good substitute. They discuss exactly the topics underlying this project such as branding, positioning, differentiation and segmentation.[8] 2.7.1 Marketing USPs The marketing Unique Selling Propositions will include the concept that everything provided on the menu is created from wholesome natural products and produced and served in a way that is at least environmentally neutral and hopefully environmentally positive. For example, the take out pizza boxes will be made of recycled paper and biodegradable. The layout and ambiance of the restaurant will contribute further to the concept of a USP. A further USP will be menu items that are unusual and unique. For example, Sushi Pizza will be sushi served on a crisp pizza dough â€Å"platter† with individual items arranged artistically on small segments as finger food. Kebab pizza will be thin sliced roasted lamb with fresh vegetable bits and yogurt sauce. While these may not be huge volume items they will help differentiate Sofian Eat from the competition. They also emphasize the wholesome ingredients aspect of the menu. A further differentiation will be the offer of two dining rooms, one for adult dining and one for family dining with children. The ambiance will be different, and the family dining area will offer a special menu for families featuring offering that will particularly appeal to children in addition to the menu offered in the adult section. In his book Marketing Management Philip Kotler emphasizes that a USP can vary from segment to segment, but the key is that it amounts to formulating a benefit, motivation, identification or reason why the audience should think about or investigate the product.[9] 2.7.2 Marketing segmentation Obviously, any restaurant wants to appeal to the widest possible array of potential clients. Sofian Eat is aimed primarily at a relatively young and affluent audience with some refinement of taste. This would encompass singles, families with children from toddler to teens, and some older and middle-aged clients that enjoy dining out. As a pizzeria, pricing would be at the upper end of the scale of pizza restaurants, but not premium priced. If pricing were compared on comparable items, for example a 30-cm. pizza with onion, garlic, mushroom, cheese and tomato sauce the premium would be a pound or two. Conversely, the sushi pizza would be a relatively expensive item compared to most pizza products, and the kebab pizza would be several pounds more than a pizza bolognaise in the typical pizzeria. In an attempt to widen the potential market Sofian Eat would offer a variety of additional menu choices outside of the typical Italian offerings of spaghetti and Lasagna. The wine list would also have an extensive variety of quality offerings appropriately priced. 2.7.3 Product The product is the key to the potential of Sofian Eat. The insistence on pure wholesome ingredients without any chemical contaminants or preservatives is the first requirement for a differentiated product. Cooking over natural wood fires and in wood burning brick ovens is another element. Using these natural products to create innovative menu offerings such as the sushi pizza is another product innovation. Product is the ultimate key to branding and product positioning. It is the objective to convince the customer that food made of wholesome natural ingredients and prepared in an environmentally friendly or at least neutral manner is both better tasting and healthier than the alternatives offered by the competition. â€Å"Positioning is the place you hold in the customers or prospects mind relative to the competition†[10] It is also the key to branding. â€Å"Brand-building is closing the gap between what you promise and what you deliver. A strong brand is one that has alignm ent between the promise and execution.†[11] The product and product quality is the foundation of a successful restaurant brand. 2.7.4 Pricing In spite of the insistence on ingredient quality, the menu model would try to keep food costs to less than 30% of menu item price. It is envisioned that menu prices will be above pizzeria averages, but still modest compared to up-scale restaurants. They would be in keeping with the income of the target market of middle to upper income clientele. 2.7.5 Promotion Restaurant promotion is a complex subject. Initially, it has to be aimed at getting diners through the door and to a table for the first time. This is however the most expensive and least effective forms of promotion. Research has shown that new customer acquisition is 7-10 times as expensive as building sales through increasing frequency, party size and check average. Because Sofian Eat is initially at least a neighborhood restaurant, flyers, local billboards and similar media are more appropriate and hopefully more effective. A sidewalk food sample give away is a tool that has been carefully considered and is deemed worthy of an experimental effort. 2.7.6 Place The initial restaurant will be located in Kensington, London. While Kensington is a high cost and highly competitive area it also has the affluent clientele that Sofian Eat is targeting. It also has relatively high foot traffic and high rent is offset by high visibility. This is closely associated with promotion as discussed above. 2.8 Finance 2.8.1 Sources Initial investment will come from the resources of the founders and a few selected outside investors. As the operation envisioned will be fairly extensive, involve a high rent location, and will probably be cash flow negative for some months at least, substantial initial funds are required. Based on the expected success of the pilot operation in a high visibility neighborhood expansion of additional restaurants emulating the first one is considered as part of the plan. This would require substantial external financing and a public offering to finance this is anticipated. 2.8.2 Cash Flow The companys cash position is based on an equity contribution of  £1,000,000 and borrowings of  £2,000,000 repayable over 10 years starting in year 3. The company is expected to pass the break even point late in its second year of operation and obviously the cash position will deteriorate continuously to this point. It would drop to somewhere in the vicinity of  £100,000 or a bit more prior to the projected passing of the break-even point in the second half of year 2. It should improve to the point where the first payment of  £200,000 on the debt could be handled without problem in year 3. 2.8.3 Profit and Loss accounts The company is projected to loose money in its first two years with the break-even point reach in the second half of year 2. Food cost is projected to drop progressively as volume increases as a result of volume purchasing and lower waste as volume grows. In the model revenues from food and beverage sales are combined, as are their costs. Rent is based on a restaurant of 700 sq. meters with rent of  £1,200 per meter per year or  £70,000 per month,  £840,000 per year. The projected lease is for 10 years with no provision for rent increases in that period. Depreciation is based on the investment of  £1,200,000 in fixtures, dà ©cor and equipment with the depreciation based on the 10-year initial lease with a zero residual value. Selling, general and administrative and other expenses are estimated with more detailed budgeting at a later point. The tax rate is arbitrarily set at 36% over the entire period of the projection. This should prove to be conservative. In fact, in the th ree years included in the projection no tax will be due in the first two years on operating losses and in year 3 any tax due would be more than offset by loss carry forwards. The Personnel cost is based on the Personnel Model included in the financial statements show as appendices. 2.8.4 Balance Sheet The projected balance sheet presented is simplistic. The only current asset is actually cash and some small quantity of inventory. The Liabilities would be accruals of the SGA and operating expense and payroll costs. In the balance sheet model they are show as exactly offsetting current assets other than cash for the sake of simplicity. Effectively, working capital would be the cash position. In practice, the loan might well be taken down in tranches as required. Equity is shown as negative by the end of year 1 and remains negative throughout the three years projected. It would turn positive at some point in year 4 based on the projected income of over  £250,000 in year three and still growing. 2.9 Organization 2.9.1 Structure The organization of a restaurant is fixed in that there is the â€Å"front of the house†, the tables and bar where patrons are served and the â€Å"back of the house† or the kitchen. The Maitre de Hotel or headwaiter that supervises the wait staff and seats patrons runs the â€Å"front of the house†. The kitchen is obviously run by the Chef who in addition to being responsible for the recipes supervises all the actions of the kitchen staff and is responsible for purchasing the ingredients. There is a manager and assistants who are responsible for the overall operation and supervision of the till. The general manager would also be responsible for keeping records and payment of accruals and salaries.[12] 2.9.2 Motivation Virtually every text on restaurant and hotel management stresses the importance of training for the staff. Motivation is a key element in this training process. In a restaurant operation one of the obvious keys is the quality of the chef. He might be compensated on a profit sharing basis that also reflects the relationship of food cost to food revenues. In practice, the service staff is compensated in large part by tips that reflect the quality of their service and their attitudes. Motivation is not usually a problem in this area. For the other members of the staff training, fair treatment and recognition of good performance should provide the level of motivation necessary.[13] 3.0 Conclusion 3.1 Strengths The key elements that are expected to contribute to success are the differentiation of product based on the exclusive use of natural and wholesome ingredients. This combined with a prime location, attractive dà ©cor and the use of separate facilities for patrons with and without children are the elements that make Sofian Eat a unique and attractive dining experience. The underlying approach is to build a marketing plan based on product differentiation. Restaurants all serve food, and basically food is food. It does vary in quality and presentation. Sofian Eat is certainly not the only restaurant to serve premium quality food, but it is hoped that the presentation and menu combined with good value will build a solid business. 3.2 Weaknesses The most serious weaknesses as this plan is being prepared are the world economic situation, the number of strong competitors in the selected location, and the very high cost of the desirable location. The economic situation, which has produced high unemployment in the UK, has impacted the traffic of the restaurant industry as potential patrons close their pocketbooks. This is at odds with the continued premium rents commanded for prime locations. The timing of the opening is possibly the most serious weakness of the plan. 4.0 Evaluation 4.1 Internal The internal elements that are of greatest importance are the ability of the operation to differentiate itself from the many other restaurants in London based on the menu, the quality and presentation of the product, and the ambiance of the operation. It is essential that dining at Sofian Eat is a very special experience. This will result from the ability of the management to produce an operation that is superior in all respects from the opening day. The standard of every facet of the operation must be â€Å"perfection†. While this is obviously unattainable, the deviations from this standard must be few and far between. This will be the element that makes the operation a success in spite of economic difficult or strong competition. 4.2 External The primary external question is the economic situation and the recovery of the United Kingdom economy. There are no other particular external factors that will influence Sofian Eat any differently than they do any other restaurant operation. The economic situation makes the situation difficult for almost any business and starting a new business will be particularly difficult base on it. References Ben Jerrys. (2010). Ben Jerrys Mission. Retrieved March 15, 2010, from http://www.benjerry.com/activism/mission-statement/ Clark, M., Wood, R. (1999). Consumer loyalty in the restaurant industry: A preliminary exploration of the issues. British Food Journal, 101(4), 317-327. Kivela, J., Inbakaran, R., Reece, J. (2000). Consumer research in the restaurant environment. Part 3: analysis, findings and conclusions. International Journal of Contemporary Hospitality Management, 12(1), 13-30. Kotler, P. (1991). Marketing Management (7th ed.). Englewood Cliffs, NJ: Prentice Hall. Kotler, P., Armstrong, G., Wong, V., Saunders, J. (2008). Principles of Marketing. Essex, UK: Pearson Education Ltd. 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