How the Compromise of 1850 Helped Delay the Civil War

How the Compromise of 1850 Helped Delay the Civil War The Compromise of 1850 was a series of five bills intended to stave off sectional strife that passed during  Millard Fillmores  presidency.  With the Treaty of Guadalupe Hidalgo at the end of the Mexican-American War, all the Mexican-owned territory between California and Texas was given to the United States. This included parts of New Mexico and Arizona. In addition, portions of Wyoming, Utah, Nevada, and Colorado were ceded to the US. The question that arose was what to do with slavery in these territories. Should it be allowed or forbidden? The issue was extremely important to both free and slave states because of the balance of power in terms of voting blocs in the US Senate and House of Representatives.   Henry Clay as Peacemaker Henry Clay was a Whig Senator from Kentucky. He was nicknamed The Great Compromiser due to his efforts at helping bring these bills to fruition along with previous bills such as the Missouri Compromise of 1820 and the Compromise Tariff of 1833. He personally owned slaves which he would later free in his will. However, his motivation in passing these compromises, especially the 1850 compromise, was to avoid the Civil War. Sectional strife was becoming more and more confrontational. With the addition of new territories and the question of whether they would be free or slave territories, the need for a compromise was the only thing that at that time would have averted outright violence. Realizing this, Clay enlisted the help of Democratic Illinois Senator, Stephen Douglas who would eight years later be involved in a series of debates with Republican opponent Abraham Lincoln.   Clay, backed by Douglas, proposed five resolutions on January 29, 1850, which he hoped would bridge the gap between Southern and Northern interests. In April of that year, a Committee of Thirteen was created to consider the resolutions. On May 8th, the committee led by Henry Clay proposed the five resolutions combined into an omnibus bill. The bill did not receive unanimous support. Opponents on both sides were not happy with the compromises including southerner John C. Calhoun and northerner William H. Seward. However, Daniel Webster put his considerable weight and verbal talents behind the bill. Nonetheless, the combined bill failed to win support in the Senate. Thus, the supporters decided to separate the omnibus bill back into five individual bills. These were eventually passed and signed into law by President Fillmore.   The Five Bills of the Compromise of 1850   The goal of the Compromise bills was to deal with the spread of slavery to territories in order to keep northern and southern interests in balance. The five bills included in the Compromises put the following into law: California was entered as a free state.New Mexico and Utah were each allowed to use popular sovereignty to decide the issue of slavery. In other words, the people would pick whether the states would be free or slave.The Republic of Texas gave up lands that it claimed in present-day New Mexico and received $10 million to pay its debt to Mexico.The slave trade was abolished in the District of Columbia.The Fugitive Slave Act made any federal official who did not arrest a runaway slave liable to pay a fine. This was the most controversial part of the Compromise of 1850 and caused many abolitionists to increase their efforts against slavery. The Compromise of 1850 was key in delaying the start of the Civil War until 1861. It temporarily lessened the rhetoric between northern and southern interests, thereby delaying secession for 11 years. Clay died of tuberculosis in 1852. One wonders what might have happened if he had still been alive in 1861.

How Many Colleges Should You Apply To Expert Guide

How Many Colleges Should You Apply To Expert Guide SAT / ACT Prep Online Guides and Tips Many students stress over the same question: "How many colleges should I apply to?"How many is too many? How few is too few? There is so much disagreement on this topic, even among experts, that many students are left confused and unsure. In this article, I’ll clear up thisconfusion. I’ll give you an idea of how many schools you should apply to and explain the factors to consider when deciding how many colleges to apply to.After reading this guide, you'll feel confident about crafting your own college list and how long it will be. There's No Magic Number The number of colleges you should apply to depends on your specific situation. I believe you should apply to anywhere from one to 15colleges.The standard thinking from counselors has been that the average college-bound student should apply to about 6-8 colleges: 2-3 reach colleges, 2-3 target colleges, and 2 safety schools.Reach schools are colleges that are unlikely to offer you admission (less than a 30% chance), target schools are colleges that you have a decent chance of gaining admission to (a 30%-80% chance), and safety schools are colleges to which you’re almost guaranteed of admission based on your qualifications (greater than a 80% chance). You can roughly determine your odds of admission for each college by using the prepscholar admissions calculator. Just google the name of the school and â€Å"prepscholar admissions requirements.† The number of colleges you should apply to is dependent on your personal situation and your priorities when selecting a college. For example, if you have a dream school that offers early decision or early action, then you may only have to apply to one college.If you apply early decision, you’ll typically be submitting your application in November and should receive an admissions decision by December, before the application deadlines for most colleges.If you’re accepted to a school that you apply to early decision, you have to attend. You should still have a list of colleges to apply to in case you aren’t accepted or if you’re applying to any colleges, like University of California schools, that have an application deadline before December.If you’re admitted early decision, you have to withdraw your applications to any other colleges. How many schools should be on your list? Why You May Want To Apply to More Schools If you’re determined to go to a very selective college, then you may want to apply to more colleges than the average person. If you apply to 10 colleges to which you have a 25% chance of gaining admission, then you’re likely to gain admission to at least one of them.In fact, if you apply to 16 colleges with an average chance of admission of 25%, then you have a 99% chance of gaining admission to at least one of them, statistically. Check out this article for a better understanding of the math behind this calculation. If you take this approach, though, you should prepare yourself emotionally to be rejected from most of the schools you apply to. If, on the other hand, you’re not as concerned with selectivity andareextremely confident that you’ll be admitted to at least a couple of the colleges you apply to, you may only need to apply to two to four colleges. Why You May Want To Apply to Fewer Schools Here are a few factors that may limit the number of colleges you should apply to. Applications Cost Money and Time Unless you qualify for fee waivers, which are based on financial need, applying to college can be costly.The application fee for each college you apply to can be up to $75.Additionally, there can be costs associated with sending standardized test scores and AP scores to colleges. The SAT and ACT allow you to send four free score reports to colleges. Each additional score report currently costs $.25 per report for the SAT and $12 per report for the ACT. Also, you’re allowed to send one free AP score report, which contains all of your AP scores, to one college each year you take AP exams. Each additional score report costs $15. Therefore, if you apply to 20 colleges, you may have to pay over $2,000.Consider your budget (or ask your parents how much they’re willing to pay) when deciding how many schools to apply to. However, you should also view the costs of applying as an investment. If you get into a great college that fits your needs, then you’ll have an invaluable college experience that will enable you to have future professional success, and the money you spend on applying may end up being insignificant compared to the return on your investment. Furthermore, keep in mind that the cost of applying will probably be much, much less than the cost of attending college. Additionally, the application process takes time.Even though more and more colleges are using The Common Application, which allows you to apply to many schools with one application, many colleges still have their own applications or require supplemental essays.Each college application that requires additional essays will probably take you at least a few additional hours to complete. Make sure you have enough time to complete all the applications successfully without sacrificing the quality of your schoolwork or neglecting any other priorities you have outside of school. Filling out applications and writing good college essays take time. You Have Specific Needs That Only a Few Colleges Meet If only a few colleges fit your specific needs, then you don’t have to apply to a ton of colleges.For example, when I was applying to college, I knew I wanted to compete for an NCAA Division I gymnastics team. At the time, there were about 15 NCAA Division I men’s gymnastics programs. Even before I started doing college research or waited to see which schools recruited me, my options were very limited. I believe I ended up applying to 4 colleges, and admittedly, I only applied to one of those because I wanted to go on another recruiting trip. If you want to be in a very specific location or pursue a major that only a few schools have, then you may only need to apply to 3-5 colleges. You Don’t Have Much Time After You Receive Your Acceptances To Make Your College Decision Most colleges send their acceptance notices in the beginning of April, and typically, you only have until May 1 to select which college you’re going to attend.If you’re deciding between multiple colleges at this point, you’ll only have a few weeks to potentially take campus visits, compare the financial aid packages you’re offered, and do any necessary research to pick a college. The more colleges that accept you, the more stressful and difficult these few weeks may be for you, if you’re still unsure about which college is best for you. Want to build the best possible college application? We can help. PrepScholar Admissions is the world's best admissions consulting service. We combine world-class admissions counselors with our data-driven, proprietary admissions strategies. We've overseen thousands of students get into their top choice schools, from state colleges to the Ivy League. We know what kinds of students colleges want to admit. We want to get you admitted to your dream schools. Learn more about PrepScholar Admissions to maximize your chance of getting in. My Rules Regardless of the Number of Colleges You Apply To Follow these guidelines, regardless of the exact number of schools you end up applying to. Rule 1: Have at Least 2Safety Schools While I believe in maintaining optimism, it’s wise to prepare for a worst-case scenario. If you only get into your safety schools, you still want at least a couple of options to consider. Stay safe with safety schools. Rule 2: Don’t Apply to Any Colleges You Wouldn’t Want to Attend Considering the time and cost associated with applying to college, it’s pretty pointless to apply to a college that you have no desire to attend. Even if your safety schools aren’t your top choices, they should be colleges that you’d be willing to attend. Rule 3: Do the Majority of Your College ResearchBefore You Apply Before applying to college, you should have a good idea of what you’re looking for in a school.There are about 2,500 4-year colleges. Use college finders, college search websites, guidebooks, ranking lists, and campus visits to help decide which colleges you should apply to. Also, you can talk to your teachers, counselors, parents, current students, and alumni to help you narrow down your list of schools. Rule 4: Try to Rank the Schools You Apply to Before You Receive Acceptances After you apply, continue to do your research and try to rank the schools assuming you were offered admission to all of them. This will make the selection process easier.Once you receive your acceptances and review your financial aid packages (if you apply for need-based aid), you can factor in the cost of attendance for each school into your decision. Rule 5: Be Realistic About Your Chances of Admission Even though it’s perfectly fine to apply to reach colleges, at a certain point, a college may be too much of a reach, and you’d be better served to focus on schools that are more likely to admit you.Usually, if your GPA and standardized test scores are well below those of the average student at a very selective college (less than a 25% acceptance rate), your odds of gaining admission will be extremely low, and in some cases, virtually nil. For example, in 2014, at Princeton University, only 2% of admitted students had a GPA below a 3.5. At Yale, out of high schools that provided class rank, 97% of admitted students graduated in the top 10% of their class. You may still have a realistic chance if there’s something exceptional in your application. If you’re a world-class athlete, the child of a major donor, or you’ve overcome incredibly unique obstacles, you may still have a legitimate shot at admission with subpar grades and test scores. Also, if your grades are on par but you have below average test scores for a selective college, you may still have a shot of getting in, especially if you’re from a disadvantaged or underrepresented background. Rob Mills/Flickr College List Examples Here are a couple of hypothetical examples to illustrate some of the concepts that I explained above. Example #1 Josie wants to go to a very selective college in the South. She has a 3.9 weighted GPA and received a 2250 on the SAT. She doesn't want to be too far from her home in Atlanta, but she is willing to consider schools that are a little further away, but still in the South, if they're a really good fit. She qualifies for application fee waivers, but she has limited time to complete applications due to her job, school, and extracurricular activities. She doesn't know exactly what she wants to major in, but she's interested in science. How many schools should Josie apply to? Well, Josie's options are immediately limited because she wants to go to a very selective college in the South that's strong in the sciences. Also, she would prefer to be close to Atlanta. Because she's focused on selectivity, she may want to consider applying to more schools, but her time is limited. I would recommend that Josie apply to about 8 schools. Here would be a sample list of schools to apply to for Josie: Reach Schools: Duke University and Vanderbilt University Target Schools: Georgia Tech, Emory University, University of Virginia, College of William and Mary Safety Schools: University of Georgia and Mercer University Example #2 George is from a small town in California. He knows he wants to major in agronomy or crop science. He is willing to go away for school, but he only wants to be on the West Coast or East Coast. He prefers a selective college, but that's not his biggest priority. George has a 3.6 weighted GPA and received a 28 on his ACT. He is not overly concerned with the cost or time needed to apply, but he does need financial aid and is worried about the cost of school. How many schools should George apply to? George's major of interest and desire to be on one of the coasts severely limit his choices. In order to give him options and a chance to attend a selective school, I would recommend that George apply to about 7 schools. That would give him a better chance of getting into a selective school, and he can compare the financial aid packages he receives or opt to go to an in-state public school if he doesn't receive the aid he's hoping for. Here would be a sample list for George: Reach Schools: UC Davis, Cal Poly San Luis Obispo Target Schools: University of Connecticut, Virginia Tech, North Carolina State Safety Schools: CSU Fresno, University of Vermont UC Davis arboretum (ludios/Flickr) Final Advice While there's no cap on the number of schools you can apply to, some students, especially those from affluent backgrounds who want to go to a selective college, can go overboard, applying to more than 20 or 30 colleges. Personally, I would strongly discourage any student from applying to more than 15 colleges.If you apply to more than that, you’re probably going to make the application process too stressful and time-consuming. Also, most students who apply to more than 15 colleges are applying to at least a few schools that they wouldn’t want to attend. If you do the necessary research before you apply, you should be able to limit your list of schools to 15 or fewer. Honestly, anything more than 10 feels excessive to me, but I understand that some students are capable of applying to more and want to give themselves more options. On the other hand, some students, especially those who are low-income or the first in their families to go to college, often apply to too few colleges.If you don’t have very specific needs that are limiting your college options, and if selectivity is a factor in your college decision, I recommend applying to at least 6 schools. Explore your options. Some students only apply to their local state school because that’s what’s expected of them. Many are completely unaware of all of the college options that are available to them. Consider state institutions, private colleges, and out-of-state schools. Don’t forget to apply to safety schools.I’ve mentioned it a couple of times, but if you’re applying to 4-year colleges, you want to make sure that you have options. What's Next? Before you decide how many schools to apply to, familiarize yourself with the complete college application timeline. You may also want to learn how to get into the most selective colleges. Once you start your applications, review how to write a great college essay. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

MBA - Creating new knowledge in the workplace Assignment

MBA - Creating new knowledge in the workplace - Assignment Example Knowledge is treated as spatial model of research which is emergent and holistic (Keegan, 2009, pp. 237-239). It has however been argued that emotions play a major role in commercial qualitative research. This paper focuses on the aspect of qualitative commercial research on the emergence and role of emotion in judgment and decision making in workplace to help in creating sense in commercial practice. Discussion Commercial qualitative research is understood as social construction which is depended on historical and cultural context; it is creative processes of interpretation and iterative learning. Qualitative commercial research is a set of research techniques that are applied in commercial and social sciences. In these cases data is obtained from relatively small group of respondents and it is normally not analyzed with inferential statistics which makes it different from quantitative research. The major role of qualitative commercial research is to assist in decision making; it ac ts as consultancy in the commercial setting unlike the academic research that has the primary role of enhancing knowledge. Commercial qualitative research strength is based on creativity, ability to make connections, analytical proficiency, listening, reflections and being innovative (Keegan, 2009, p. 241). Modern scientific advancements have questioned the perception and thinking about the functions and how knowledge is created. According to Jenlink (2009, pp. 74-78) a practitioner leader has to work from range of inquiry methods to explore, create and transform social relations and knowledge within the political, economic and cultural divides of education and society. The essence of scholar practitioner in the mirror of theory is sense of being critical. This entails ensuring that knowledge, values and beliefs are framed within a consideration of implications for creating knowledge and transforming practice contrary to viewing society as collection of people, organizations, job ro les, information and emphasis within complexity thinking on relationships between things. From this point of view culture is dynamic and keeps on changing. Knowledge is recognized as socially constituted, historically embedded by approaches to disciplinary inquiry and epistemological curiosity (Jenlink, 2009, p. 23). A new concept of emergence has come out in the discipline of qualitative research. Some academics have however disagreed with the concept of emergence; this concept describes how patterns arise from local level interactions. It is difficult to understand the patterns or predict them from the behavior of lower level interactions or in a linear way. Emergence focuses on the present moment as the only point of experience and influence even though our experience incorporates the past and the future. According to Jenlink (2009, pp. 198-212), the process perspective takes a prospective view in which future is continuously created in the present on the pretext of the present r econstruction of the past. The idea of emergence is viewed as normal within the context of commercial qualitative research. The study of relationships between individuals, brands, services and their surroundings forms part of commercial qualitative research. Creation of knowledge entails legitimization of research which keeps on evolving. However

Paper 2 Essay Example | Topics and Well Written Essays - 1000 words - 3

Paper 2 - Essay Example In his graphic novel Maus (1991), Spiegelman records history from an interview he conducted with his father Vladek. Vladek was a holocaust survivor who lived in New York, and he related his experiences that Spiegelman translated into a graphic novel. In this graphic story, the holocaust is comically depicted with Jews as Mice, the Poles as Pigs, Germans as Cats, French as Frogs, and Americans as Dogs (Wood 83). Through illustrations, the reader is compelled to make an action in his mind and by doing this; the author touches on soft underbellies that most texts would not dare to through non pictorial means (Ewert 82). The author has given a fresh understanding of holocaust in this novel. In Palestine, Sacco gives a graphical representation of the consequences of the first intifada in the holy land of Israel/Palestine. In this graphic novel, the author takes the audience through various refugee camps and towns in Palestine in a bid to gather stories, pictures and other relevant informa tion. The book has interesting illustrations and written texts that convey various themes throughout the pictured pages. The two graphic novels have given an interesting revelation about the cultural and political state in their settings. For example, Maus (1991) was written with a cultural touch and especially when it masks the low cultural status of comical works in the English speaking world where the word ‘comic’ was not taken seriously. Moreover, the novel has been used as a cultural tool in most states. For example, the author of the novel went against the cultural expectations of fascism and accepted his book to be published in South Africa in opposition of apartheid regime (Wood 85). This is because the book is culturally revolutionary and advocates for human rights to be upheld by the ruling regimes. Likewise, Sacco’s Palestine is a work that centers on violence, brutality, and torture as forms of

My Eldest Cousin Essay Example for Free

My Eldest Cousin Essay Many people admire singers, movie stars, who make so much money that they could do everything they want and are famous. However, they don’t even know the person or their personality whom they admire. To me, admiration is a kind of respect. But there aren’t a lot of people who deserve this sort of respect from me in this world. Respecting my parents who raised me is the important thing that I have to do for the rest of my life. Besides my parents, my eldest cousin is the only person who made me look at things differently. He is two years older than me. His name is Khoi. I can remember when I was a high school kid. My family used to live in a rural town that was far away from my school. For convenience, I had to stay temporarily in my aunt’s house for studying. My aunt has only one son who is my eldest cousin. He has curly hair, tall with dark skin and his body was built with muscle. Those things made him look extremely strong. I could imagine that he is like a stone, like Bruce Lee. He was very good at sports. Read more:  Most admirable person  essay Playing basketball was his favorite one. Whenever he played, his team won most of the time. It was interesting to observe how extremely emotionally involved he was in the game. He had many fans in our school, many people liked him. I can remember one of his games. His team was down by three points and they had only five seconds left, he had the ball from a teammate and then he made a three pointer to make the game in a tie. They went over time. Finally, his team won by five points. After finishing the game, some of his fans carried him and ran around the basketball court for celebrating. Sport was always for him a source of fun, emotions, experiences, which are important ingredients in his spiritual life. Not only he was very good at sports, but also his knowledge was broad. He was the person who had the highest grades in the school. All teachers loved him, they always told us â€Å" Khoi is a good student, he deserves to be the person for you to learn from†. He did too great in the school. Consequently, few people hated him because they were jealous. Despite of the fact that he was a good student in our school, he wasn’t haughty. He always thought that he had to learn more and more every day even though he was only 18 years old by that time. At home, he was also a good son. He always respected his parents and elders. He helped his mother to clean house, wash dishes, mop floors more and more†¦ He also helped me on my homework, helped me whenever I got in troubles. Our neighbors liked him too. One of our neighbor talked to his parents and said â€Å"You have a great son, you must be proud of him†. His parents were very happy. My cousin never stopped learning new things. He always got advices from other people even though he had his ideas to solve his problems. He became a business man successfully after finishing his major. He was glad to help everyone who was in our family whenever we had troubles. He taught me about life experience and helped me when I got in troubles. For example, after a long day of work he was really tired and just wanted to go home and took a nap. Instead, he spent time and listened to me about troubles that I had. And then he solved the problems and gave me some advices before taking the shower. In conclusion, I admire my eldest cousin because he taught me about life, and tried to help me when I needed him. He is the greatest person that I’ve ever known. He is the person that I would like to learn from. He advised me that I need to treat people respectfully; I should not stop learning new things and try to help people if they need me. Otherwise, my life will be meaningless.

How NAFTA has affected the financial service industries in the United S

The North American Free Trade Agreement (NAFTA) was enacted in November of 1993 with aims to facilitate the free flow of goods, services and labor between the United States, Canada and Mexico. The ratification of NAFTA created the world’s largest free market with roughly 390 million consumers and an estimated total output of $8.6 trillion. Clearly, this trade alliance has had a major influence on the financial service industries of the participating nations and will continue to do so in the future. However, the financial service provisions of NAFTA will have sufficiently greater implications for Mexico than either the United States or Canada. This is in part because Mexico is embarking upon a greater shift towards openness in its financial service industries. The fact that the financial markets of Canada and the United States have been highly integrated prior to NAFTA implies that they will not benefit as much from transactions within their own markets. What’s more, Ca nada’s trade with Mexico is 1 percent of its trade with the United States. However, the principal gains from financial integration of this sort have largely to do with the more efficient allocation of capital across international boundaries and the more efficient provision of domestic financial services to consumers.   Ã‚  Ã‚  Ã‚  Ã‚  The primary gains to the United States from the NAFTA financial services agreement will be predominantly seen in the long run. The access to a market that includes 90 million people and has been served by a financial and banking sector that has been relatively inefficient and illiquid will prove to be a major advantage to the United States. Although the market access to Mexico’s financial industry has been gradual, U.S. banks, insurers and financial companies have free and fair access to Mexico. Further, in contrast to Canada, the United States has had strong historical ties with Mexico and this familiarity is expected to provide an advantage to the United States in Mexico. In the years to come, further growth of business for U.S. banks and financial institutions because of NAFTA can be expected.   Ã‚  Ã‚  Ã‚  Ã‚  A key impact of the financial services sector is that U.S. banks and financial institutions will be forced to improve their competitiveness. The McFadden Act (1927) and the Glass-Steagall Act (1933) limited branch-based banks an... ...a hemispheric bloc, although experts estimate that an expansion throughout Latin America will take much time and resources due to political maneuvering. Regardless, the implications of such an agreement will most assuredly impact the economies of all countries involved in a dramatic and unparalleled fashion. REFERENCES Crary, D, â€Å"Royal Bank of Canada and Bank of Montreal Plan Merger†, Associated Press, January 23, 1998. Chant, J, â€Å"The Financial Sector in NAFTA: A Trinational Analysis†, S. Globerman and M. Walker, 2000. Gonzalez-Hermosillo, B, â€Å"Financial Integration in North America† Paper presented at the session â€Å"Capital Mobility and Financial Integration in North America,† Allied Social Science Associations annual meetings, Boston (MA), 3-5 January 2001. Wonnacott, R.J. 2000. â€Å"The NAFTA: Fortress North America?† Commentary (C.D. Howe Institute), no. 54:1-18. White, W.R. 1999. â€Å"Some Implications of International Financial Integration for Canadian Policy† Technical Report No. 57. Ottawa: Bank of Canada. Garber, P.M. and Weisbrod, S.R., Opening the Financial Services Market in Mexico†, The Mexican-US Free Trade Agreement.   Ã‚  Ã‚  Ã‚  Ã‚  

Operational Functions and the 4 P’s of Marketing

Lecture 1: Introduction to Marketing Marketing is the management process responsible for identifying, anticipating and satisfying customers† requirements profitability. Peter Drucker ‘there is only one valid definition of business purpose: to create a customer†. At its simplest, if you do not have any customers for the product or service your organization offers, then there is no reason for continuing existence. Consumption is the sole end and purpose of all production and the interests of the product ought to be attended to only so far as it may be necessary for promoting those of the customer. The operational functions of marketing: sales promotion, advertising, public relations, selling, financing, buying, forecasting, pricing, standardization, publicity, merchandising, market research, transporting, risk-taking, servicing and stockholding. Elements over which organizations have control and which are used to try to influence customers to choose one particular organization in preference to another are generally termed the marketing mix. External factors in the original marketing mix: customer-buying behavior, trade behavior, competitors† position and behavior, government regulations. Originally there are 12 P†s of marketing but this list is not easy to remember and it should be obvious why Jerome McCarthy condensed the 12 items in Borden†s original marketing mix, into 4 major categories popularized the ‘4 Ps†. The internal variables are therefore loosely grouped together under the headings of: product, price, place (the offer mix), and promotion (the promotional mix). While the ‘4 Ps† is a useful framework, a vigorous debate has taken place over the last decade about the dangers of seeing marketing solely as the control of the ‘4 Ps†. In fact it is a trap that tends to make suppliers forget the needs of customers as well as the importance of a mutually beneficial exchange. There is a suggestion of the addition of three other Ps: Probe (research), Partition (segmentation) and Position. Lecture 2. The Marketing Macro Environment. Both of the parties making an exchange are more likely to consider that the exchange has been beneficial when the exchange has been made within the context of what is known as an Open Market. This is a market which has all of the following characteristics: 1 Single homogeneous product, 2 Many buyers, 3 Many sellers, 4 Buyers and sellers have equal access to all available information relevant to the market. All developed societies have similar regulations to regulate legal trade. It is therefore usual for manufacturing and trading organizations to have to comply with such regulations, which effectively constitute one aspect of the environment in which an exchange takes place. These factors are for this reason referred to as the environmental variables of marketing. These are usually labeled the Economic, Social, Technological and Political variables (STEP). Companies should seek to demonstrate good corporate citizenship by upholding the letter and the spirit of the law, and generally behaving in a responsible and responsive manner. Some markets and trades have developed general voluntary codes of conduct and control, supported and monitored by a central membership body. Medicine for example has long been controlled by strict codes of professional behavior. Governments have developed a body of legislation and enforcement frameworks in respect of industry and trade. In particular, the following areas of control are of direct concern to business. 1. Legislation in respect of monopoly and competition standards. In the UK it†s done through the Office of Fair Trading and the Monopolies and Mergers Commission. As a full EC member, the UK is also subject to Community provisions in respect of issues: in particular Article 85 of the Treaty of Rome concerns practices hindering competition. 2. Measures to protect consumers, whether as groups, individuals, as users of certain products and services, or particularly as targets for business activities. Relevant legislation has included the Trade Descriptions Act 1973, the Consumer Credit Act 1974, etc. Number of these statutes introduced measures directly relating to marketing practices such as pricing claims, warranties, product quality, etc. The economic environment is a complex network of international, domestic and regional influences and dependencies that shape the market potential facing companies. Company performance itself will depend critically on the quality of preparation and decision making is brought to bear on this potential. The significance of the economic data is that over time they will indicate major economic developments of direct interest to marketers. Such ‘economy-watching† may enable the vigilant company to respond in time to scenarios such as following: 1.Recession. A downturn in economic activity of variable intensity. Usual indicators will be a fall or leveling in GNP, GDP, household income, etc. Rises will be recorded in measures such as stock, unemployment and company bankruptcies. 2.Recovery. The opposite of the above. Marketers in some sectors will benefit from an early upturn in sales. Major upturns in economic activity may result in ‘overheating† with higher costs and prices. 3.Inflation. Rising prices may be associated with buoyant conditions, demand growth and shortages. Economic policies are likely in future to be more directly influenced by multilateral agencies and agreements (UN) and the expansion of common market blocs such as the EC. Culture within any society id the complex of elements that reflect the society†s beliefs and values, preferences and behavioral norms. For marketer it is necessary to understand that culture will vary within and between societies, so those cultural norms may vary between countries, regions and culture groups. Factors, which distinguish a society, change very slowly, as they are the products of family upbringing, the education system, national history and political development, religion, etc. Environmental awareness is an interesting reflection of how society-wide concerns have delivered a powerful message to governments and business leaders. Technology is the touchstone of economic progress, a leading source of competitive advantage commercially and an indispensable part of everyday lifestyle for the modern consumer. To illustrate the competitive force wielded by technology, it is worth observing that many manufactures have been affected by technology developments remote from their own field. Major sectors of the metalworking industry were obsolete by the developments of digital electronics. Eg typewriters. Technological developments decrease the price of production. Technologies have also enabled an increase in the variety of products available to customers. The marketing environment comprises the playing field upon which competitive marketing takes place. Companies need to monitor and decide rational responses to changes in the environment in order to win their colors. There are three types of companies: those who make things happen; those who watch things happen; and those who wonder what happened. Lecture 3: Markets and Market Segmentation. 1.A market is an aggregate of people who as individuals or organizations have needs for products in a particular product class and who have the ability, willingness and the authority to pay. – Consumer – where purchasing is done by private or group of individuals. – Industrial – products and services are bought for one of 3 specific uses: 1- resale, 2- producing other products, 3- products used in general eg administration, computers. 3.Differentiated markets. – Consumer needs are not the same: – homogenous, differentiated. Undifferentiated market – all needs are the same 4.Criteria for effective segmentation – measurable, – economically variable. Geographic – geographic position on the globe. Demographic – basis for the collection of many government statistics and the standard system used by the media industry. Includes age, sex, family cycle, and socioeconomic segmentation.