Compare and contrast various pricing strategies and their effects on sales and profit.
Analyze a marketing situation and develop appropriate advertising recommendations and sales promotion strategies.
Submitted to Nina Askerova
Gaurav Sapre – C0690867
Denson Thomas – C0702719
Abhishek Dagar – C0700133
Yash Shah – C0695773
Anurag Kushwah – C0699290
CPL – 5559
Lambton College in Toronto
June 15th, 2018
There are mainly three US cities which will be a good location to start collecting data for the US pilot, in combination with Toronto area. They are as follows-
• San Francisco
• New York
San Francisco with no doubt is a great place to start business as it is well known for entrepreneurs, high educated young candidates, money, skilled and talented people. There is an impressive growth rate of 108.9% seen in past years. Not only that it is also consider a well source of arts, lifestyle and culture. San Francisco is an expensive place to stay there, but the city's median revenue fills the gap easily. There are many tech company who have started their business and having run usefully and making the profit to the maximum. Some of the best tech companies are as follows Dropbox, Eventbrite, one kings lane, Quantcast etc. There are many advantages for all the employees also as your credit will get increased as being a part of an established firm. And being a part of unsuccessful company, your credit will drop even if you deserve better.
Detroit is having a strong infrastructure with many of population living inn there. Manufacturing in Detroit has gone high-tech. Detroit is the core place where software development and automotive manufacturing thrives. As it is known as the region of IT it consists of highly efficient people with good skills, young educated employees which will help them to be a big success. Every year there is almost thousand computer science graduate professionals with degrees and certificates from different institutions.
Things that are considered while referring these three cities are-
Young talented candidates: The percentage of local population who comes between the age of 25 to 35 are one of the are most common reason of a favorable environment for business and new ideas.
High education level: As per the survey in 2014 there are a lot of young candidate whose age come between 25 to 35 are having bachelor's along with professional degrees. There are good school and colleges in the town.
Employment rate: There is a good employment rate in all the three cities as it is known as the main place where IT and the factories are set up. There is 85% of increase in the sector of employment seen in past 4 years.
Rent and Income: As per the rent is considered the rents are available in a reasonable rate. The income in these cities are compatibly high when compared to others.
Start-up: Talking about the start up, even the small business in these cities are doing good. And these cities are most eligible for the start-up new ideas and businesses.
New York as we know is a home to a large number of multinational companies including a large number of IT companies with headquarters of one of the biggest company on the globe: IBM as it has more than 2000 employees working in their New York office. As from the research we found out that they have hired mostly the teenagers who just graduated from their colleges as we know age group from 25-35 gives more output and best results.
The three cities of united states of America listed above are the best in terms to be recommended as all these cities are the hub of IT companies and as we know Z & P wants to set up and IT business. San Francisco has head quarters of Fit bit (a company that gives or manufactures watch which collects all the daily activity data for e.g. heart beats, pulse rate, number of foot steps). New York has head quarters of IBM one of the biggest IT company on the globe. Detroit has headquarters of General motors and ford as both of these companies are shortlisted for top 500 fortune list. According to us these are the three best cities in the united states of America because these three cities are the hub of one of the largest multinational companies as they provide a lot of job opportunities and these cities will be good option for a start up in IT sector.
Three best US cities in comparison with Toronto
Top IT companies in Toronto: Accenture as we know Accenture is considered to be the one of the top multinational company and it employs a large number of people in Toronto. As people working in Accenture have a lot of flexibility like work from home or maternity leave or parental leaves up to 16 weeks. There is also a proper training and skill development program for all the employees to enhance their potential.
As we know that Canada's most innovative technology companies are from waterloo- Kitchener, it is also known as Canada's Silicon Valley. This place is considered to be the best place for start ups of new businesses.
Top 3 IT companies from waterloo-Kitchener:
1. Manualife Financial
2. Research in Motion
3. Economical Insurance
P&L Strategies for Both Canadian and U.S Operation Mostly related to Logistics
Numerous organizations encountered a blast in business from development in purchaser certainty and expanded spending in numerous segments, while different organizations felt tested by flighty conditions or unpredictable nearby markets.
Despite which end of the range your association is in, it's fundamental to research the collaborations data we procured reliably and use it to impact key moves up to the supply to chain that will drive execution in 2018 and past.
These 5-logistics data organize bits of knowledge from 2017 were collected from a variety of sources, including gives insights with respect to Canadian nearby examples, overall carrier freight articles, and distinctive wellsprings of collaborations data. Each key estimation introduces the two troubles and open entryways for Canadian associations, so we feel that it's incredibly huge to research each one and utilize the data offered to energize effect and guide key collaborations decisions for 2018 and past.
5 basic Logistics insights that Canadian organizations need to considerate
1. The Exchange and Transportation Passages Activity will contribute a stunning $2.1 billion throughout the following decade with an end goal to make Canada's transportation foundation more proficient and compelling. Without enthusiasm and investment for system, the limit with regards to associations to cooperate inside a country ends up being dynamically more troublesome in nearby future.
2. Truck and transport tire producing industry is revealing Yearly development of 9.8% in the OEM showcase and 4.1% in the swap advertise for 2017.
3. The overall market for warehousing and collaborations mechanical self-rule came to nearly $2.1 billion out of 2016 and is foreseen to outperform $23 billion preceding the complete of 2021.
4. Fuel costs extended in Canada amid of the second half of 2017, from around $.85USD per liter to $.96USD per liter. Expenses are foreseen to continue ascending in the fundamental segment of 2018 to a normal $1USD per lite.
5. Air stack volume designs seem to uplift in 2017 4Q, and general 2017 airship cargo is foreseen to hit its most grounded level since 2010.
To abbreviate these estimations, we can see that as Canadian logistics associations progress in 2018, they will be looked with extensive opportunities to achieve bigger measures of profitability as client ask for creates and the overall market progress.
P&L for the companies based in US and are from Canada and company based on Canada based in USA the best cost, revenue and face of the use and Canada operations and together what are the profit and loss for the same
Reference :- https://www.statista.com/statistics/184538/20-leading-us-logistics-companies-by-net-revenue/
This measurement demonstrates a positioning of the main coordination's organizations in 2018, positioned by North American net income in 2017. In that year, XPO Logistics produced very nearly 5.3 billion U.S. dollars in net income in North America and was positioned ahead of all comers.
Shoppers in the United States are profiting from the assortment of transport modes accessible in our undeniably associated world. The most broadly utilized haulage modes incorporate street and rail transport, and also send transport and flying. When clients submit a request for a thing, they trigger a huge range of administrations going past the straightforward conveyance of bundles. Coordination's organizations offer the mix of data move through production network administration programming, warehousing, bundling and material taking care of, and in addition sending, returned merchandise administration and financier. The genuine sending might be finished by utilizing a few transport modes over various domains.
In the 2016 positioning, UPS Supply Chain Solutions was the main coordinations organization in the United States. With a client base including Philips Healthcare, Pratt Whitney and Triumph Motorcycles clients list, the Georgia-based forwarder created a little more than 3.1 billion U.S. dollars in income from exercises in North America. It is an auxiliary of United Parcel Service, an organization that rounded up in excess of 65.8 billion U.S. dollars in income in its 2017 monetary year and utilized around 454,000 truckers, pilots, group individuals, mechanics, office specialists and administrators.
• The penalties and fine depends on many things of doing such as:
1) It is determined in terms of Intention of the breach
2) And, also nature of violation
That is further classified into how many people are affected after the breach and fine is completely based upon these things.
'Benefit and Loss Statement (P&L)'
The benefit and loss statement is a money related explanation that condenses the incomes; expenses and costs brought about amid a predefined period, normally a monetary quarter or year.
P&L explanation is synonymous with the pay proclamation.
These records give data about an organization's capacity or failure to create benefit by expanding income, lessening costs or both.
Some allude to the P&L proclamation as an announcement of benefit and misfortune, salary explanation, articulation of activities, articulation of budgetary outcomes or pay, income articulation and cost explanation.
Reference :- https://www.investopedia.com/dictionary/
While deciding upon the products the Future Data would be offering we also decided few cities in US which are in combination with the Toronto area in Canada so as to create a wide opportunity and atmosphere for our company to be able to sell and reach consumers easily in the IT industry.
Its always the first step to make a prototype of what you want to launch and get all the necessary details from your surroundings and create an impact on your plans like more administrative rather than being glamorous. Its doesn't cost much to file and regulate company accounts yet they are critical regarding personal finance and health of the business.
Talking about a country like US you must have all the necessary resources which create a full flow of vision on how to get things done in a way that will not hinder any steps taken. Depending on what type of business it is, hiring a professional accountant and attorney is a good way to lessen the burden on you and the company itself.
Here are some state level implications while launching a new company in US which is basically collecting data and commoditizing the data:
1. Naming the company is a must do task and making sure its permitted to use – Before getting into the real business-like printing business cards, hiring clients and professionals its necessary to get a name which is unique, and you can make a free check if it is or not on any websites out there. After deciding on name, it can be trademark it with the U.S patent and trademark office and make sure its registered.
2. Fictitious business name/DBA – If the company is working under different name and is a sole proprietorship or general partnership then a DBA (doing business as) must be filed. Probably they all are filed at the country and/or state level.
3. Form an LLC or get your business incorporated – To safe guide your assets forming an LLC or corporation is a good idea as it would save you from such other liabilities. As a business structure has its advantages and disadvantages which depends on specific circumstances.
4. Federal tax ID number – A separate legal entity distinguishes your business when you get a Federal Tax Identification Number, also referred to as Employer Identification Number. IRS issues this and has a track in our Tax number which is personal social security number.
5. Understanding Employee laws – As soon as your start a new company and hire the first employee your obligation towards them begins and an employment law professional must be consulted.
6. Getting required business permits and license – Whatever the business type and wherever the location would be getting licence or permits are necessary from local, state and federal level as well. For ex., zoning and land using permits, sales tax licence, health department permits, business operation licence etc.
7. Filing for trademark protection – For proper legal protection it is necessary to file trademark protection as it gives you legal right to brainstorm your ideas into the business and make it a complete structure.
8. Building business credit by opening a bank account – fundraising is a part of generating better opportunities to increase credit for personal business use and breaking the cash flow into the process of utilizing the resources.
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