John Stuart Mills Utilitarianism Essay Example | Topics and Well Written Essays - 500 words

John Stuart Mills Utilitarianism - Essay Example Factories see on this announcement is on the nature of satisfaction that issues and not the amount of delight. He is additionally of the view that one joy might be more important than another. On the off chance that there is a moment where all that have presentation of the two joys give a chose inclination in spite of any demonstration of good commitment to pick it, plants considers it to be the more attractive delight. It is apparent that in the event that one delight is far over the other that it is favored in any event, when it isn't fulfilling there is another joy in the earth is proficient to fill the discontent. Factories additionally see that no person can be satisfied to be changed into any of the lower animal to assist full enthusiasm of a beast’s delight. It is evident that a man can't wish to sink into a lower level of life. This might be related with the affection for freedom and autonomy (Mill, 2002). I concur with Mill in his explanation that it is smarter to be a person disappointed than a pig fulfilled. The perception that even a respectable character can carry less joy to a person concerning the general public it is useful. It is clear that the remarkable joy rule guarantees the aggregate sum of joy as the respectable character in any event, when it isn't attractive to a person. I concur additionally with Mills that no individual in his still, small voice brain would be egotistical in any event, when he is convinced that the blockhead is happy with his enthusiasm than he is with his. Another explanation I concur with Mills is that a being of higher respect is qualified for additional to be upbeat. A person is able to do progressively explicit affliction and unquestionably approaches a larger number of chances than animal of a mediocre sort (Mill, 2002). In the occurrence one attempt to realize what fulfills a pig, one can discover is that it is food. It is apparent because of its insatiable nature a pig will in general eat a great deal. Concerning individuals fulfillment isn't just brought by food as encircle oneself with

Strategic Plan,Conceptualizing a Business Essay Example | Topics and Well Written Essays - 750 words

Vital Plan,Conceptualizing a Business - Essay Example It has the capacity for providing food of administrations for the two females and guys in the zone. To guarantee that customers get quality administrations and items; to upgrade their psychological unwinding and enhance their physical appearance. Being a legitimate salon; that offers quality items and administrations at reasonable costs (Hormozi et al., 2002). Disney has been a main hairdresser in the city has worked with significant magnificence â€Å"spas† that manages top models and affluent customer bases. Through the three years of involvement with upscale salons Disney has had the option to make a legitimate name in the excellence classy industry with a solid base of customer bases. Working with her kindred beauticians; Disney is generally bound to manufacture this business endeavor an effective endeavor. Shaping from this notoriety previously earned this organization will in general pull in more customers and proceed with the development of the organization. Our business organization is situated in one of Greensted occupied lanes which is effectively available to any individual, in this manner our customer bases won’t discover trouble finding us. The earth is favorable with enough space that guarantees the customers get proficient administrations and entertainment. Our business gives a serious assortment of items and administrations all under one rooftop, and we are adaptable in the working hours to suit our customers’ needs. The high notoriety of our staff and the proprietor of having the option to offer quality administrations to suit every client needs will acquire us all the more new customers and reinforce the relationship with our present customers (Karlsson and Honig, 2009). The organization will offer types of assistance that cook needs of the entire family setting; that are helpful to youngsters, ladies and men. These assorted administrations are: 1) Hair administrations: cleanser, weaving and waving, hues, hair styles, conditioners, relaxers, twisting, perms and reproducing; 2) Skin care administrations: facials, back rub, and body waxing. 3) Nails Services: clean, nail trims,

Curious About the Cost of Self-Publishing Heres the Latest Industry Data

Curious About the Cost of Self-Publishing Heres the Latest Industry Data One million books. Thats the new record the self-publishing market in the U.S. has hit and surpassed, according to the most recent industry data. In fact, self-publishing is at an all-time high and shows no signs of slowing down, as more authors discover the many benefits this nontraditional publishing route can offer.Obviously, the decision to independently publish is a big step to take for any writer. Cost, especially, is a factor, and the good news is that self-publishing can be done with little to no money up-front. However (and this is a BIG however), choosing to jump into the indie author game without spending considerable time and money on the front-end could end up being a wasted effort, especially if the book you end up publishing is incorrectly formatted and full of typos, with a poor cover design that doesnt attract the attention it needs to compete on the market.We all know nothing is really freeSo, how can you self-publish for free? Well, a lot of self-publishing platfor ms like Kindle Direct Publishing (formerly CreateSpace) and Lulu allow you to upload your book and start selling it for free, while they take a percentage of the profit from each sale for manufacturing costs. This is the method you can use to publish your book at absolutely no up-front cost to you. Sounds great, right?Just because something is advertised as free doesnt mean it will cost you nothing. Photo by Aneta Pawlik on Unsplash.Not so fast. Lets first look at what goes into publishing a book on the more traditional route of established publishing houses. Along with these steps, well consider what youd need to pay out-of-pocket to achieve the same level of professionalism and service offered by the larger publishers. Well also discuss a way you can cut these costs by over half with a little in-depth research.Developmental editingIn the publishing industry, a developmental editor assists authors in the early stages of the manuscript submission process. After a manuscript is accep ted for publication, a developmental editor will discuss with the writer any issues that might be problematic and should be resolved before a final draft is submitted. In this process, the manuscript might go through multiple changes based on the developmental editors inside knowledge of the genre and readers expectations. Keep in mind that a developmental editor is someone with a birds-eye view of the publishing industry and understands things about it authors might not be aware of, and possible obstacles they might not see from a limited point of view.For example, a developmental editor will work with you on things like:The structure of your bookWhether your book will be marketable, and if not, how to make it more marketableAny gaps in plot or characterizationAn unclear audience or lack of engagement with audienceMajor changes that need to be made regarding pacing, dialogue, or plotHiring a developmental editorAs you can see, in order to have the same insight about your manuscript , youd need to hire the services of a freelance developmental editor.The cost of hiring a freelance developmental editor can run anywhere from $8 to $12 per page. For a 200-page book, this would be approximately $1,600 to $2,400.CopyeditingA copyeditor in the publishing industry is an editor who focuses on the technical issues of the copy. A professional copy editor would have excellent command of English language rules, including grammar, punctuation, capitalization, spelling, syntax, citation formats and more. After youve worked with a developmental editor, a copyeditor would go over your final draft carefully to make any necessary corrections to spelling, grammar, punctuation, and syntax.The copyeditor would also note inconsistencies within your manuscript. For example, if you have a character named Sara and there are some instances where her name is spelled Sarah instead, the copy editor would note those. He or she would also note any false or questionable information such as in correct quotes, dates, or claims if you are writing nonfiction. Going without this service could cause problems down the road when youre trying to market your book or face the potential of lawsuits because of infringement or defamation you were not made aware of before publishing.Hiring a copyeditorFreelance copy editors are more easily found than freelance developmental editors, and their prices range accordingly. However, youd be lucky to find a copyeditor who offers copyediting services for less than $3 per page, and the best do charge upwards to $10+ per page. For a 200-page book, this would be approximately $600 to $2,000+.Professional typesetting and formattingAfter your manuscript has been thoroughly edited, a professional typesetter will lay out text in preparation for publishing and printing. Professional typesetters are usually graphic design specialists who have an eye for design and know how to make text easily read, including the amount of white space that is needed sur rounding it. They will consider specific elements such as:Printing specificationsTypefaces, fonts, text size and spacingPage layout (including margins and spacing)Paragraph settingsâ€"line spacing, justification, leading and paragraph spacingThe relation of left and right pagesHeadings, table of contents, page numbers, headers and footersEliminating misplaced print and unattractive hyphenationGraphic elements to tie in with the cover and chapter headsHiring a typesetterYoull likely be hiring a freelance graphic designer who focuses on book design and formatting when you hire a typesetter for your self-published novel. In my research, I found several freelance typesetters who offer a set fee for typesetting on self-publishing platforms such as Kindle. These fees ranged from $150 to $300.ProofreadingIn the stages of editing a manuscript for publication, a proofreader would look at the proof that is an initial test run of what will be printed. He or she would compare this to the final draft of the manuscript to ensure that everything is the same. A proofreader would also look to ensure that the typesetter did his job and ensured the page numbers are correctly formatted and that each paragraph is correctly separated on the printed page.Hiring a proofreaderSince proofreaders dont expect to make many corrections to the proof, they will typically charge less than copyeditors (who make extensive changes). With that in mind, a proofreader shouldnt charge more than $3 per page for a 200-page proof, making the cost around $600.Cover designEven though you cant judge a book by its cover, theres little doubt that a poorly designed book cover will stifle book sales. So, if theres one thing you shouldnt do haphazardly, its choose your books cover. The big publishing houses hire the best artists and graphic designers in the industry because they realize how important the books cover will be for overall sales of the book.Hiring a cover designerWith so many freelance marketplace s available, you can find both low-end freelancers and high-end freelancers with a simple Google search. However, keep in mind what I mentioned above: This will be a big part of selling your book, so if book sales are important to you, it isnt something you want to cut corners on.Websites like ServiceScape offer profiles of graphic design professionals who specialize in cover design, and their prices can range from $50 to $200+. As with any industry, prices vary depending on the level of work involved, and you can end up paying $1,000 or more for custom, hand-drawn illustrated work.Original artwork on a book cover could run $1,000 or more, unless you have a connection to the artist. Photo by Samuel Castro on Unsplash.Copies for advance readers and reviewersWhen a book is published through traditional channels, the publishing house sends out copies for advance readers and reviewers to help the book gain momentum when its time to market it. As you probably already know, the reviews th at a book getsâ€"whether on Amazon or elsewhereâ€"have a significant effect on its sales. Thats why the advance readers and reviewers are so important to get the ball rolling once the need for marketing is there.Buying copies for advance readers and reviewersFor the self-publishing platforms weve mentioned, if youre going the free route, books are printed when ordered. This means youd need to order your own copies for advance readers and reviewers, which would cost around $3.50 for a 200-page book. (Keep in mind this price varies based on the dimensions of the book and the ink color used, so this is just a rough estimate.) So, if youre planning to send out 50 advance reading copies to bring in needed reviews, this would run $700 for you out-of-pocket.Final costSo, lets look at the final cost of self-publishing a book without sacrificing quality:Developmental editing: $1,600-$2,400Copyediting: $600-$2,000Typesetting: $150-$300Proofreading: $600Cover design: $50-$200 (low end)Advance copies: $700Total cost: $3,700-$6,200A few tips for cutting your cost (by 50% or more!)These figures might be what you expected, or they might have taken you completely by surprise. However, if youre on a tight budget yet still want to self-publish a book that doesnt scream unprofessional vanity press, consider these tips for lowering your cost without sacrificing quality:Find an editor who can serve as developmental editor, copy editor and proofreader. With the right freelancer, all three jobs can be done at different stages of the manuscript process for a reduced price. However (and this is a BIG however), be sure that the editor you hire has the experience needed to handle all three jobs, and dont expect that editor to do all three jobs for less than the typical price of one. That simply isnt fair to the editor, who typically spends anywhere from several days to several weeks to edit an entire manuscript correctly. (How would you like to be paid $50 for three days of work?) Simpl y put, you can cut costs but keep in mind youll get what you pay for if you bargain too low.Follow the detailed instructional videos offered by self-publishing services and do the typesetting yourself. With the right attention to detail, you should be able to make it look professional, as long as you follow the advice given.If you have a friend or relative who is a great artist, ask for a cover design from them. You should still pay them, but youre likely to get artwork that is better (for the price) than what youd get if you hired a freelance graphic designer. Also, keep in mind that you can still hire a freelancer if the artwork youre given doesnt meet your expectations.

The Reformation Essay - 537 Words

The Reformation Religious ideas have developed from every society known since the Sumerians, with theological ideas evolving as communities progressed and changed. Throughout recorded history there have been dissenters and revolt to every religious institution. However, the Reformation of the sixteenth century religious institutions led to changes in social, political and cultural life that have profoundly effected Western Civilization (McKay, Hill, Buckler, A History of Western Society, page 451). By the early sixteenth century, church and state had become inextricably intertwined. Both factions were removed from the greatest percentage of the population by wide margins in education, nutrition, mobility, and income.†¦show more content†¦Martin Luther himself was a member of the Catholic church, a trained priest. Luther was literate, educated, trained by the Church, but also, the son of a lower-class miner who empathized with and was respected by peasants. The theological issues questioned by the Protestants were primary to the faith and power held by the Church. First, is salvation attained by faith and good works, as the Catholic Church maintained (and profited from by selling indulgences as good works), or by faith alone as Luther asserted. Second, does authority over the people rest with the Church or on the Word of God (the Bible) alone, as interpreted by the individual. This idea THE REFORMATION WAS A GREAT MILESTONE ON THE ROAD TO PROGRESS Page Two directly questioned the authority of the Church. Third, does the Church consist of the hierarchical clergy of the Church or the community of Christian believers. Fourth, is the monastic life superior to secular life, or do all vocations have equal merit, as Luther argued. Theology was adapting from one dictatorial faith ruling the masses to different sects empowered by their individual faith and better suited to their society. As a leader of peoples yearning for salvation, Luthers revolt, which led to the secularization of Christianity, is more of a progression of Christianity, than a protest. By 1521 Luther had a vast number ofShow MoreRelatedThe Protestant Reformation And The Reformation Essay1379 Words   |  6 PagesThe Protestant Reformation Why the Protestant Reformation is considered a significant development in the Christian Church. The Protestant Reformation was an event which occurred within the Catholic Church during the 16th century. This Reformation was prompted by Martin Luther’s ‘95 theses’ which were a list of 95 criticisms towards the church. The Reformation formed another branch of Christianity called Protestantism which is comprised of many different Christian denominations including AnglicanRead MoreThe Protestant Reformation And The Reformation916 Words   |  4 PagesThe Protestant Reformation took place in the 16th century and was a major European movement whose goal was to reform the beliefs and practices of the Roman Catholic Church. This movement led to people worshipping God as they wanted and no longer relying on the Catholic Church for guidance with religious matters. Even though people were doing what they believed, the Protestant Reformation brought many conflicts. Religious disagreements caused bloody conflicts all over Europe. The principal figureRead MoreThe Renaiss ance And Reformation And The Reformation1507 Words   |  7 PagesThe Renaissance and Reformation – two of Europe’s largest movements – grappled many of the same issues. Both these movements addressed the question of human fate and tried to make changes to entities and institutions in society. These broad similarities allow some to believe that the Renaissance and Reformation had a relationship in which the former caused the latter. However, while both the Renaissance and Reformation deal with questions of human fate and are movements of change, the answers theyRead MoreThe Protestant Reformation And The Reformation871 Words   |  4 PagesThe Protestant Reformation was a pivotal time of European history that occurred during the 16th century. The Protestant Reformation was comprised of people called â€Å"reformers† that challenged papal authority and questioned the Catholic Church’s ability to define Christian practice (â€Å"The Reformationâ⠂¬ ). The Protestant Reformation was revolutionary due to the fact that the reformers preached against everything the Catholic Church had been teaching. Some famous reformers are John Calvin and Martin LutherRead MoreThe Reformation Of The Protestant Reformation798 Words   |  4 Pagesway to heaven sounds nice does it not? During the time period of the Protestant Reformation you were able to do just that. When most people think of the Protestant Reformation it is often associated with a time of crisis for the Catholic Church. This specific time period challenges and characterizes the new direction that would be taken in Western Europe. A specific moment in the beginning of the Protestant Reformation would soon lead to the development of early modern Europe, that moment was theRead MoreThe Protestant Reformation And The Reformation971 Words   |  4 PagesCatholic Church: the English Reformation. The English Reformation wasn’t the only movement that led to the separation from the Catholic Church, though. The Protestant Reformation, starting only ten years before the English Reformation did, first recognized the corruption of the Catholic Church. The English Reformation noticed the corruptions of the Catholic Church, but was more focused on creating new political and religious authority. Both of these reformations relate to one another greatlyRead MoreThe Protestant Reformation And The Reformation1619 Words   |  7 Pagesbetter when multiple wars are started because of a disagreement in how to worship. The Protestant Reformation was a widespread epidemic that started with Martin Luther noticing severe problems in the way the Roman Catholic Church was running, and that there were simple and more holy methods and worshipping God, leading to the creation of Lutheranism. There was an uproar in Germany over this new reformation, and it caught the attention of John Calvin who then strove to create Calvinism with the idea thatRead MoreThe Reformation A nd The Protestant Reformation876 Words   |  4 Pages The 16th century reformation is also known as the Protestant reformation. There are a various number of causes for the Protestant reformation. The causes of the reformation will be analyzed from two different perspectives: Germany s causes and Europe s causes. The results of reformation will be examined. Major contributors such as Martin Luther and John Calvin s perspectives and contributions will also be analyzed and the impact they had during their time period.  People in Europe during theRead MoreProtestant Reformation And The Reformation1727 Words   |  7 PagesHI 101 Essay 3 Zhenli Xu Protestant Reformation Protestant Reformation is admittedly one of the most important schisms in the history of Christianity. It started with Martin Luther nailing the Ninety-Five Theses on the door of the Catholic Church in Germany in 1517, and ended with the Peace of Westphalia in 1648. The Reformation was a religious movement triggered by the rise of humanism during the Renaissance and the general corruption of the Roman Catholic Church that eventually led to theRead MoreThe Protestant Reformation And The Reformation Essay1978 Words   |  8 Pagestime Christianity began to the time of the Protestant Reformation, for about a millennium and a half, there was only one sect of Christianity: Catholicism. After the Protestant Reformation, however, different Christian denominations sprang up in many parts of Europe. The Protestant Reformation’s beginning is most commonly associated with Martin Luther’s beliefs and his protest of the wrongdoings of the Catholic Church. Before the Reformation, t he Catholic Church was more interested in raising funds

Literary Analysis of Fight Club - 1481 Words

Fight Club is a novel written by Chuck Palahniuk. This is a story about a protagonist who struggles with insomnia. An anonymous character suffering from recurring insomnia due to the stress brought about by his job is introduced to the reader. He visits a doctor who later sends him to visit a support group for testicular cancer victims, and this helps him in alleviating his insomnia. However, his insomnia returns after he meets Marla Singer. Later on, the narrator meets Tyler Durden, and they together establish a fight club. They continue fighting until they attract crowds of people interested in the fight club. Fight club is a story that shows the struggles between the upper class and lower class people. The upper class people here†¦show more content†¦This quote explains how both classes see each other, the working class consider themselves as guerilla terrorists who attack the upper class, while the upper class sees the working class as cockroaches that can do nothing an d can be eliminated any time. The upper class people despised the working class people as they considered them as servants to serve them at any time. Another example that highlights the conflict between the classes in the story is the scene where Tyler splices pornography into the films he airs. He uses his position as a projectionist in the movie theater to include split seconds of pornography into movies watched by the upper and middle class people. He enjoyed doing it because he had nothing to loose, he was the â€Å"the pawn of the world, everybody’s trash† (Palahniuk 106). He included pornography in the movies the upper class people watched just to get back at them by exposing them to pornography without their knowledge and consent. Exposing them to pornography without their knowledge was a way Tyler used to reverse the conventional roles of the society. The working class was proving to the upper class that they could oppress them if they want to and this was done through Tyler’s actions. Tyler used his position to do as he wished and the upper class people could do nothing about it rather, they watched the pornography in the movies. In addition to struggles between classes, Palahniuk explores the theme of destruction in his book. Creation throughShow MoreRelatedFreudian Criticism Of Oedipus Complex1130 Words   |  5 Pageson the anaclitic model; the boy deals with his father by identifying himself with him (The Ego and the Id 20). In Fight Club, we get a small glimpse into what the Narrators childhood was like, as well as what his relationship with his parents was like. At one point, Tyler says, Our fathers were our models for God. If our fathers bailed, what does that tell you about God? (Fight Club), which tells us that the Narrators father abandoned him at one point in his life (we know this because Tyler andRead MoreFight Club By Chuck Palahniuk1442 Words   |  6 PagesFight Club At first glance, Chuck Palahniuk’s award-winning novel Fight Club gives the impression that it is a simple story revolving around a man who struggles to manage his insomnia. However, a deeper literary analysis will show readers that the novel is much more than that. Fight Club is actually a cleverly written novel that contains many elements of Marxist and psychoanalytic theories throughout the storyline. Marxism is based on the concepts of Karl Marx’s theories that focuses on class relationsRead MoreSummary Of The House Of The Spirits 1651 Words   |  7 Pagesreact. During the patriarchal society, women were a man’s possession. They had few rights and were exploited and sometimes rejected by men (Metzger). Clara doesn’t put up with disrespect from any man and when her husband, Esteban, hits her during a fight, Clara never speak a word to him again (Allende 223). With this act of cruelty on his part it allowed Clara to escape to her own world of solitud e, a spiritual world where Esteban cannot follow her. This world is without rules, without structure, noRead MoreThe Doubles Creation as a Necessary Anti-Hero Essay2045 Words   |  9 Pagespurely literal light. A psychological viewpoint is appropriate to my research paper for the fact that each of the prime instances of doubling I aim to discuss occur unconsciously. The intentions of the originals, in my case Jack from Fight Club and Ivan from The Brothers Karamazov, that lead to the creation of their doubles lie deep within their psyches and are unacknowledged by the character. I aim to explain what occurs inside the depths of a characters mind leading up to the situationRead MoreThe Heart Is a Lonely Hunter Literary Analysis1787 Words   |  5 PagesAn Analysis of The Heart Is a Lonely Hunter The Heart Is a Lonely Hunter, by Carson McCullers, is written in third person point of view. However, the perspective switches between five characters. This novel is classified as a Southern Gothic novel. It explores isolation, religion, and race and racism. Throughout the novel, we see the characters’ isolation from society and the affects of isolation on these characters. The theme of religion is also portrayed, mainly in the character of John SingerRead MoreLiterary Analysis Of Jack Londons The Call Of The Wild707 Words   |  3 PagesThe Call of the Wild Literary Analysis Have Have you ever read The Call of the Wild? The Call of the Wild by Jack London it is a story about a dog name Buck that transformation from a pampered pet to a fierce,masterful wild,animal, and this transformation naturally means that the canine protagonist gradually separates himself from his human masters on his way to achieving a final independence. Nevertheless, The Call of the Wild ultimately offers an ambiguous,rather than negative, portrait of Buck’sRead More A Literary Analysis of Robert Cormiers The Chocolate War Essay870 Words   |  4 Pages A Literary Analysis of Robert Cormiers The Chocolate War nbsp; nbsp; The Chocolate War is a story which takes place in New England in the 1970s. Most of the events happen in a Catholic school. Since this school was exclusively for boys, they were constantly trying to prove their power over each other. The story is told in third person omniscient. The storys mood is suspenseful. With each page turn one wonders if Jerry will take or refuse his chocolates. The protagonist of thisRead MoreVersions of the Gangs of New York: A Comparative Analysis965 Words   |  4 Pagesï » ¿ Whenever a work of literary nonfiction is adapted by filmmakers for the silver screen it is inevitable that certain truths will be stretched and liberties taken in the name of creative license. This is undoubtedly true in the case of journalist Herbert Asburys The Gangs of New York: An Informal History of the Underworld, a seminal piece of investigative reporting weaved with lyrically lurid prose describing the debauchery, squalor and institutionalized barbarism of the era. Pub lished in 1928,Read MoreHonors Literary Analysis : The Time Periods, Geographical Location, Historical / Social Context )1195 Words   |  5 PagesHonors Literary Analysis January 21, 2015 Name: ____Tucker Mason_______ Title: ___________Go set a watchman_____________ Author: __Harper Lee____________ Genre: __Fiction_______ Setting (ANALYZE the time period, geographical location, historical/social context) The setting can best be describe has a quiet rural town in alabama during the 1950s. From the time period we can tell there are still racial tensions. We learn that almost all the people in maycomb county are part of the KKK. CharacterRead MoreLord of The Flies Essay1673 Words   |  7 PagesLord of the Flies was published in 1954 by William Golding. Today Lord of the Flies is a well known literary criticism. Many schools require their students to read Lord of the Flies because of the literary criticisms in the book. In this paper three themes or literary criticisms are talked about: good vs. evil, symbolism of characters, and maturity of characters. Another topic in Goldings Lord of the Flies is the battle of good vs. evil. Everything seems to start out just fine on the island; the

Price Control Free Essays

Price Controls Econ 360-002 Sonia Parsa Sparsa1@gmu. edu G00509808 Word Count: 1540 Abstract This paper examines how, in the United States, the government imposes several forms of taxes and price controls and how all individuals are required to pay direct and indirect taxes. It looks at how the approach of taxation and how the constraints of taxation on goods and price controls affect the U. We will write a custom essay sample on Price Control or any similar topic only for you Order Now S. economy. Introduction Regulations have played a huge role in the political and economic world for centuries. There are various different types of regulation. One regulation that the government imposes under its tax policy is price control, which is not considered to be voluntary. Price control can play two different roles, a price ceiling or a price floor. A price ceiling is the maximum price that can be charged in the market for a certain good, causing shortages, and a price floor is the minimum price that can be charged in the market, which then causes surpluses. Measures are usually taken by a government under its regulatory policy to control wages and prices in an attempt to check cost-push inflation and wage-push inflation[1]. However, these policies never help the economy. Instead, it worsens the situation. Governments also impose price controls as an indirect mechanism for taxation. The most well-known price controls enforced by the United States government today are: the policy of minimum wage, rent control, and oil price control. Having enforced price controls generate opportunities for economy failure, i. e. shortages and surpluses, as well as opportunities within the black market, and international arbitrage. The Economic Philosophy When a price control is forced by the government, it’s usually imposed to help or protect particular parts of the population which would be treated inequitably by the unfettered price system. But one must wonder which part of the population, the consumers or the producers? Is it not true that the consumers always feel as if the prices of a good are much higher than their actual value, while producers always feel as if the prices are too low? Price controls are usually justified as a way to help consumers, but whether they actually do is open to debate. Imposed price controls by the government are not only an absolute disaster, but have resulted in dislocating many economies in the past. The key is to recognize that when governments impose price controls; it does not only affect their nation, but also affects parallel imports with their trade partners because of a price â€Å"discrimination,† in regards to tariffs. The Economic Logic The effect of taxation and price controls on the economy vary from the decrease of the supply of goods to an increase in costs and can be demonstrated by a supply-demand analysis (Figure 1). In a free market, the equilibrium selling prices are shown by an upward sloping supply curve (S) with respect to price. The maximum buying prices on the part of the consumer is then shown by a downward sloping demand curve (D) with respect to price. After a quantity of a good is acquired by a consumer, the less important the desire is than before. Therefore, the supplier has to lower the price for each unit as it is sold. Where the supply and demand curve intersects at the margin is called the equilibrium price. In a maximum price control, a deadweight loss occurs in the triangle of a, b, c. pic] For example, when there is a tax imposed on a good like tobacco, there is an increase in the price of the product. This is called minimum price control and the price is not legally allowed to fall below the minimum. This shifts the supply curve of the product to the left. In other words, there are fewer goods available at the same prices than there were before. There is then a decline in the quantity demanded and a new equilibrium between demand and supply is reached. On the other hand when price controls are imposed there is an artificial decline in the prices. At the lower prices, a higher quantity is demanded but the production is insufficient to fulfill that demand and causes a shortage. We can also use the supply-demand analysis to dissect the labor market when a wage-control is placed by the government (shown in Figure 2). By establishing a minimum-wage law, it mandates a price floor above the equilibrium wage; therefore, the rate of unemployment among unskilled workers increases. When wages increase, a greater number of workers are willing to work while only a small number of jobs will be available at the higher wage. Companies can be more selective in whom they choose to employ causing the least skilled and inexperience to be excluded. [pic] Figure 2 assumes that workers are willing to work for more hours if paid a higher wage. We graph this relationship with the wage on the vertical axis and the quantity of workers on the horizontal axis. Combining the demand and supply curves for labor allows us to examine the effect of the minimum wage. We will start by assuming that the supply and demand curves for labor will not change as a result of raising the minimum wage. This assumption has been questioned. If no minimum wage is in place, workers and employers will continue to adjust the quantity of labor supplied according to price until the quantity of labor demanded is equal to the quantity of labor supplied, reaching equilibrium price, where the supply and demand curves intersect. Evidence- Minimum Wage Basic theory says that raising the minimum wage, which is a type of price-control, helps workers whose wages are raised, and hurts people who are not hired because companies cut back on employment. The very first federal minimum wage laws were imposed under the National Recovery Administration. The National Industrial Recovery Act, which became law on June 16, 1933, established industrial minimum wages for 515 classes of labor. Over 90 percent of the minimum wages were set at between 30 and 40 cents per hour. [2] C. F. Roos, who was the director of research at the NRA at that time, estimated that â€Å"by reason of the minimum wage provisions of the codes, about 500,000 Negro workers were on relief in 1934. † Roos added that â€Å"a minimum wage definitely causes the displacement of the young, inexperienced worker and the old worker. [3] By imposing minimum wage rate, free contract in the labor market is shattered. A firm is no longer allowed to pay below the minimum and the laborer cannot accept anything below the minimum that has been set as well. The free-market allows inexperienced workers to obtain entry-level positions, which gives them on the job training, by working for less. With the imposed wage-control, if the monetary compensation falls below minimum, th e trade-off becomes illegal which is a direct violation of a workers liberty to free contract. Thomas Rustici, in his book about minimum wage, makes an excellent point when he states: â€Å"In virtually every case it was found that the net employment effects and labor-force participation rates were negatively related to changes in the minimum wage. In the face of 50 years of evidence, the question is no longer if the minimum wage law creates unemployment, but how much current or future increases in the minimum wage will adversely affect the labor market? †[4] For years we have witnessed the effects of what minimum wages execute, yet we continue to conduct the same mistakes. Conclusion Obligatory price controls by the government are not only an absolute disaster, but have resulted in dislocating many economies all over the world for thousands of years[5]. As economic history has shown us, price controls being effective in a free competitive market are very rare. We either experience shortages or surpluses as a result. Who wins and who loses with an imposed price control? Setting a price control in one country affects other countries around it as well due to parallel imports and personal trafficking. Prices are not just numbers to a free competitive market; they are the expression of the value the supplier sets, no matter how subjective it may be. To regulate or to impose a price control, like any form of regulation, is unconstitutional. In some cases, it either violates the 5th amendment and/or 14th amendment. Price controls, wage controls, and money controls are really people controls. Regimentation at its worst- that is what a socialist dictatorship is all about. I believe that the free market has its own way of equalizing the economy and when the government interferes and sets price ceiling or price floor, it causes a chaos within our economy. Regardless if it results in a dead weight loss or a shortage, the consequences can sometimes be more destructive in the long run. Even if a government believes that price controls are set and affect only their country, it does not; it affects every nation that does any trade with them, exports or imports. The appeal of price controls is understandable. Even though they fail to protect many consumers and hurt others, controls hold out the promise of protecting groups that are particularly hard-pressed to meet price increases. However, when the government has proposed a control, there is a lag in time, causing an economy to become more impaired. References Barfield, C. E. and Groombridge, M. A. â€Å"The Economic Case for Copyright and Owner Control over Parallel Imports. † Journal of World Intellectual Property, Vol. 1 (1998), pp. 903-939 Benjamin M. Anderson, Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 (Indianapolis: Liberty Press, 1979), p. 36. Cambridge Pharma Consultancy. Pricing and Reimbursement Review 2003. Cambridge, UK: IMS Health-Management Consulting, 2004. â€Å"Gas Fever: Happiness Is a Full Tank. † Times Magazine 18 Feb. 1974. 19 June 2009 . Grossman, Gene M. , and Edwin L-C Lai. â€Å"Parallel imports and price controls. † RAND Journal of Econ omics 2nd ser. 39 (2008): 378-402. Princeton. Web. 8 Dec. 2009. . Richard M. Alson, J. R. Kearl, and Michael B. Vaughan, â€Å"Is There a Consensus Among Economists in the 1990’s? † American Economic Review 82, no. 2 (1992): 203–209. Rustici, Thomas. â€Å"Public Choice View of Minimum Wage†. Cato Journal, 5. 1) Spring/Summer 1985: 114. ISSN: 0273-3072 Steenhuysen, Julie. â€Å"Drug price controls may shorten lives: report | Reuters. † Business Financial News, Breaking US International News | Reuters. com. 16 Dec. 2008. Web. 8 Dec. 2009. . The Power of Oil: The Arab Oil Weapon and the Netherlands, the United Kingdom, Canada, Japan, and the United States Roy Licklider International Studies Quarterly, Vol. 32, No. 2 (Jun. , 1988), pp. 214 ———————– [1] Grossman, Gene M. , and Edwin L-C Lai. â€Å"Parallel imports and price controls. † RAND Journal of Economics 2nd ser. 39 (2008): 378-402 . Princeton. Web. 8 Dec. 009. . [2] Leverett Lyon, et al. The National Recovery Administration: An Analysis and Appraisal (New York: Da Capo Press, 1972). pp. 318-19. [3] Benjamin M. Anderson, Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 (Indianapolis: Liberty Press, 1979), p. 336. [4] Rustici, Thomas. â€Å"Public Choice View of Minimum Wage†. Cato Journal, 5. (1) Spring/Summer 1985: 105. ISSN: 0273-3072 [5] Barfield, C. E. and Groombridge, M. A. â€Å"The Economic Case for Copyright and Owner Control over Parallel Imports. † Journal of World Intellectual Property, Vol. 1 (1998), pp. 903-939 How to cite Price Control, Papers

Clean Edge Case Analysis free essay sample

Case Analysis of Clean Edge Razor Problem Statement Paramount Health and Beauty Company developed the Clean Edge Razor, a technologically advanced non disposable razor. The company now has to study and segment the market environment and find a suitable target to successfully position and launch their product. Situational Analysis General Market Profile Products available in U. S. Razor market are non-disposable razors, refill cartridge, disposable razors, shaving cream, and depilatories. Non-disposable razors recorded average growth of about 5% in retail sales during the period 2007 to 2010 whereas refill cartridge and disposable razors recorded growth of approximately 2% and 3% respectively for the same period. Innovations and new product introductions are the prime factors for the growth. Non-disposable razors and refill cartridge market is broadly classified into three segments namely value, moderate and super premium based on price and quality. Paramount’s consumer research identified distinct segmentation in terms of product benefits and consumer behavior. 39% of non-disposable razor users are segmented as Involved Razor users, social/emotional shavers; 28% as Involved Razor users, aesthetic shavers and 33% as Uninvolved Razor users, maintenance shavers. Studies from 2009 showed that the retail sales of non-disposable razors and refill cartridge came from 25% volume of super-premium, 43% of moderate and 32% of value segments. In the last decade, the industry has experienced significant growth in the super premium segment. Product innovation and new technology is leading this sector for a number of new entrants. In 2008-09 the rate of new product innovation leads to 22 new SKUs to be introduced. SWOT Analysis Strengths Paramount Health and Beauty Company’s biggest strength is that it is a well-established brand with deep pockets and a very good association with consumers. The product- Clean Edge Razor, that they have released, is also the best technologically in the current market. Weaknesses The company does not have a slice in the 37. 2% of the pie that corresponds to the super premium segment which has immense potential. Also there is a risk of launching the product in the wrong segment or positioning it wrongly. A wrong move could result in cannibalization of Paramount Pro, another product in their portfolio. Opportunities There is very good growth in the super premium segment especially in men’s grooming. The market is also highly profitable so vendors are ready to stock the products. Also, the maintenance users are a market not ventured by any company till date. Hence the opportunities are immense. Threats A good number of competitors are trying to become the leader in this segment which is expected to grow in the future. The competitors could also catch up with the latest technology and release a technologically more advanced product. Also, a wrong execution would result in damage of the firm’s repute. The substitutes are also a major competition. PORTER’S FIVE FORCE FRAMEWORK SUPPLIERS POWER (LOW) Large number of suppliers BUYERS POWER INDUSTRY RIVALRY (HIGH) (HIGH) Differentiated products Large no. of players already present ENTRY BARRIERS (LOW) Easy to enter the market no major costs involved THREAT OF SUBSITUTES (HIGH) Availlability of alternatives like disposable and electric razors There is large number of players already present in the premium segment hence there is high level of rivalry in the industry. Availability of alternatives like disposable and electric razors make a high threat of substitutes. Because of large number of products available and constant innovation in the sector it is very easy for the consumers to switch the companies. Hence, consumers have a high bargaining power. Entry barriers are low in the industry since no major RD costs are involved and there are no major regulations. The bargaining power of the suppliers is low. Hence, overall the premium segment of nondisposable razors is an attractive industry to enter into. Positioning Strategy: The first strategy that we suggest is Niche Positioning, targeting the premium segment: As of now, the products released by Paramount in the non-disposable razer segment, Paramount Pro and Paramount Avail are positioned in the moderate segment and as a value -offering respectively. After three years of development, Paramount Health and Beauty Company has come up with a new technologically advanced vibrating razor called Clean Edge. Keeping in mind the superior technology used and the fact that Paramount has not launched a product targeting the premium segment, Paramount could adopt Niche Positioning while launching Clean Edge. However, there are certain disadvantages and advantages: Advantages: Positioning Paramount’s Clean Edge as a niche will accentuate the company’s product portfolio significantly. From the exhibits it is visible that it will result in high and consistent profit margins for the company and the risk involved will be less. Apart from that, the financial requirement of launching the product in the premium segment is only 15 million dollars as against 42 million dollars for the mainstream targeting. Disadvantages: As the trends suggests, understanding the fact that the premium segment has not been targeted significantly, almost all of Paramount’s competitors have launched products for this segment. Also, for the past 5 years, the company’s current products Pro and Avail have not introduced any new innovations as a result of which its customers are moving on to other competitors. The product pro is in the mature face and might need phasing out eventually. The second strategy that can be followed is Mainstream Positioning. The advantages and disadvantages of the same are as follows: Advantages: Consumers are becoming more and more sophisticated day by day and expect more advanced technology. Paramount’s bread and butter product, Pro was in the mature phase of the product lifecycle so there is a possibility of decline. Positioning Clean Edge as mainstream product will help prevent loyal Paramount customers from being wooed away to more innovative brands. Main stream razor unit volumes are expected to capture over three times the volumes of the niche market in the first year. Clean Edge has the potential for true market domination and would quickly gain mass appeal. Disadvantages: Paramount already had product in mainstream positioning -Paramount Pro so launching it as mainstream positioning will dilute the brand power and will lead to cannibalization. More marketing support will be needed to reach the target masses. The company would require an extensive advertising campaign, considerable consumer promotions would be needed and thus the expenses associated with them will be huge. To reach full sales potential with this positioning, $42 million marketing budget would be needed for year one. Total sales of Paramount for Avail and Pro for first year (2009) and second year (2010) are calculated using the market size (retail sales) and corresponding market share, both real (2009)and estimated (2010), of Paramount. The cost of Cannibalization is calculated using total sales and percentage of cannibalization given. Analyzing the result, it is evident that launching the product is a profitable venture; however, the cost of cannibalization may change equations. The cost of cannibalization is lower for the niche market as compared to mainstream market. Although, cannibalization adjustments give us losses for the first year in the case of both mainstream and niche, the profit obtained in the second year for mainstream is larger than niche market. Branding Strategy The branding should be done in such a way that it emphasizes Clean Edge Razor as a unique and breakthrough product with the usage of latest technology. However, given the tight advertising budget, it should use the well-established name of Paramount rather than build a brand based on the Clean Edge. This should help potential buyers connect with the product quickly and test it. This should ensure maximum sales. Recommendations Conclusion The recommendation is to introduce the Clean Edge into the marketplace as a niche product since data shows that consumers in the premium segment are willing to switch between the companies. Using advertising and promotion of the new product we can gain market share from competitors. Exhibit 8directly supports this recommendation and shows that even though unit sales are less than main stream sales, the operating profit and the operating profits as % of sales is higher. In both year one and year two, this niche market is profitable and growing. It is here that Paramount should focus its efforts on product introduction and positioning for the Clean Edge Razor. Once it has launched itself in the niche segment, Randall should then launch it, maybe after 2 to 3 years, in the mainstream category. As the data shows, both niche and mainstream strategy will help Paramount to raise its market share in super- premium non disposable razor segment. But the niche strategy will enables Clean Edge Razor to contribute profit and at the same time, limit the effect of cannibalizing Paramount’s existing products.