The Influence of Mass Media

The Influence of Mass Media The importance of the media today is immense Mass media has become an industry in the world. From the T.V in the house, the newspaper on the doorstep, the radio on the car to the fliers in the mailbox and the internet. Because the media are so prevalent in industrialized countries, they have a powerful impact on how those populations view the world. Nearly all of the news in the United States comes from a major network or newspaper. It is only the most local and personal events that are experienced first-hand. Events in the larger community, the state, the country, and the rest of the world are experienced through the eyes of a journalist. Not only do the media report the news, they create the news by deciding what to report. The production of news often goes through several steps: informants and sources, press agents, reporters, news agencies, journalists, and editors. Many media are citing other media or opinion leaders so that the complete chain of information flow becomes quite long. Selection and distortion may take place at every link in this chain of information transmission. The top story of the day has to be picked from the millions of things that happened that particular day. After something is deemed newsworthy, there are decisions on how much time or space to give it, whom to interview, what pictures to use, and how to frame it. Often considered by editors, but seldom discussed, is how the biases and interests of management will impact these determinations. All of these decisions add up to the audiences view of the world, and those who influence the decisions influence the audience. The mass media have an important role in modern democratic society as the main channel of communication. The population relies on the news media as the main source of information and the basis on which they form their opinions and voting decisions. According to cultural selection theory, any selection of messages in the mass media will thus have a profound effect on the entire society. Competition has become increasingly keen in the area of the mass media as they keep fighting for the attention of the readers, listeners, and TV-viewers. The life and death of each newspaper and TV station is at stake here when the income from advertising and sponsoring is proportional to the number of readers or viewers. The printed media have problems competing with the electronic media as sources of news. In order to survive, they are increasingly turning to other strategies such as entertainment, titillation, scandal mongering, and spreading fear and spending fewer resources on serious researching of news. This is not only about the survival of the fittest of the news media, it is also about cultural selection and political selection. The news media are the most important channels for the propagation of culture, ideas, and opinions. Most opinion formation takes place when people sit and watch news and debates on television. Analyzing the cultural selection in the electronic info rmation society, we find that an important part of the selection lies in the choice between TV channels. Millions of lazy viewers sit in their comfortable arm-chairs with remote controls in their hands zapping between action films, revivalist preachers, and commercials for a new fragrance, hardly realizing that by choosing which cultural and political influences they expose themselves to, they also chose the cultural and political evolution of their country. It is very important to analyze which selection criteria are in effect here. The electronic media are first and foremost pacifying. It is a relaxation machine, and the viewer wants to be entertained. The faces on the screen are not chosen for their opinions but for their entertainment value. TV stations do not compete on ideologies but on sense impressions. An extreme example is music videos, satiated with fast changing sense impressions in sound as well as in pictures. The media, therefore, have enormous importance to conflict resolution because they are the primary and frequently only source of information regarding conflicts. If a situation doesnt make the news, it simply does not exist for most people. When peaceful options such as negotiation and other collaborative problem-solving techniques are not covered, or their successes are not reported, they become invisible and are not likely to be considered or even understood as possible options in the management of a conflict. In psychology, communication theory and sociology, media influence or media effects refers to the theories about the ways the mass media affect how their audiences think and behave. The shift of media and media industry over the past few years into new forms, such as DVD and the internet, changes the modalities available for audiences to consume and receive media. The change has caused some media theorists to call into question the influence that the media have over attitudes and beliefs. The consequences and ramifications of the mass media relate not merely to the way newsworthy events are perceived (and which are reported at all), but also to a multitude of cultural influences that operate through the media. The media has a strong social and cultural impact upon society. This is predicated upon its ability to reach a wide audience which often sends a strong and influential message. Marshall McLuhan uses the term à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"the medium is the messageà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚  as a means of explaining how the distribution of the message can often be more important that the message itself. It is through the persuasiveness of mediums such as television, radio and print media that reach the target audience. The internet has lifted some of the restrictions placed on society by allowing for diversification of political opinions, social and cultural differences and heightened level of consumer participation. There have been suggestions that allowing consumers to produce information through the internet will lead to a bombardment of too much information. It can however allow society a medium for expressing opinions and moving away from the political restrictions placed on society. Media can also influence the way people talk. Certain movies have quotes that can be embedded into the minds of the audience. However, these quotes can be either appropriate or non appropriate. Media scientists have often discussed how much influence the media have on peoples opinions. People tend to selectively read what they already agree with and to rationalize their preformed opinions in the face of contrary arguments. Experimental evidence seems to indicate that the mass media have little power to change peoples opinions on issues for which they already have formed a strong opinion, but they have a profound influence when it comes to setting the agenda and priming people on new issues. The way an issue is framed determines how it is discussed, which causes a social problem is blamed on, and which of the possible remedies are entered into the discussion. In conclusion, the media can be used to promote social growth and thinking skills. Therefore, the design is focused on human itself other than lots of unnecessary things for the society. The winner for that era will be the person who has flexible thinking power. Also, the designer must have a true character. Follow the path of virtue with right-minded should be their goal. In addition to, the designer should have to find their lifes passion, develop themselves-esteem, and create self- appreciations which lead to more positive self-esteem. With all that in mind the designer have a powerful persuasion.

Gender and body image – Looking at women and men through the life course

Throughout our lives we are governed by how we look and act according to society. One of the main leaders throughout history has been which sex a person belongs to. This governs our every aspect in life from a baby, through to adulthood. Opinion changes constantly to whether children should live a certain way and especially act certain ways at different ages and stages throughout life. We are socially constructed from the start of our lives, if a baby wears blue or pink determines societys view of how to treat the child and most importantly whether it is male of female. We are judged in our abilities and skills just by from which sex we belong to. It is one of the most influential factors in life, being male or female. I will be looking at the perceived differences between males and female body image and actions throughout the life cycle, from birth through to old age. One of the first things we notice about a person is which sex they belong to. Today due to changes in societies impressions and opinions on sex and sex orientation, it is generally possible to immediately determine the sex of a person that gives out first impressions and places stereotypes. Every culture distinguishes between male and females and this accompanied by beliefs and psychological and physical behaviours belonging to each sex. It is not a recent act to distinguish differences between the sexes. In pre-industrial Britain children were sent off to work at an early age between 6-7. They were kept apart and designated a job. At this age physicality's of gender differences would not be differentiated because of no puberty growth in the children causing no differences in physical ability and strength yet girls would be sent to become servants while boys would be trained to be apprentices. In the sixteenth century boys were increasingly sent to boarding school, while girls were mainly kept at home, any small amount of girls who were sent to boarding school were trained for domesticity. Their father or their masters controlled any girls in a family, like an ownership. The males possessed them. Any money that was made was not their own to keep but passed on to their masters or their family for their parents personal use or placed back into the family for food and supplies. Both boys and girls were used for their bodies yet in completely different ways. In the early nineteenth century working class children would be used in working class factories for cheap labour. Boys would follow the men with physical work while girls were sold for prostitution. Girls where not seen to have many uses apart from their bodies or domesticity uses. This treatment of girls continued through the years in society. Towards the First World War girls were not sold for such explicit reasons but used in different ways (Humphries 1977). Families became dependent on the wages of their siblings. With men called to war the children would work to help the families upkeep. Girls would be expected to help their mothers with domestic tasks and to take the role of second mother for their younger siblings. While boys and young men where used for their physical abilities. By the twentieth century psychologists identified that childhood was a vital part of a persons identity. Freud dedicated his life to the study of people and the affect of childhood on their adult lives. Children could be scared for life because of their childhoods. This could explain judgements of people on sex opinions later in lives because of their upbringings, which had forced the stereo types into society. Post war brought the decline of infant mortality and the decline in birth rate. Children where not therefore depended upon for their help with the families income. Adults began to see children as pleasurable company. Children soon became the main focus of life. The division of home from the workplace resulted in an isolation of women and children. The home in middle-class households represented a haven from the competition of the market place and from the public world. Men would stay in the workplace and women and children were kept ‘confined' and ‘protected' in the home. This soon broadens from the middle-class household to the working class home. This image of the western family soon became the model norm of the western societies, which influenced many people throughout their lives. Female and male children are segregated and classed as different, which has continued up to the present day. From birth they are given different clothes and toys and are subjected to socialisation. Children were even segregated at school, boys may have been sent to a different school than girls and be taught different curricula. Children now share schooling and have moved closer together in the curricula but in many other ways they are treated differently. Although today boys and girls may study the same curriculum, some subjects are still labelled as being male or female subjects. Increasing anxieties about sexual threat in contemporary society, because of sexual abuse cases, has become increasingly popular; causing boys and girls to be treated differently. Girls are surveyed and controlled more than boys of the same age. Girls and boys are sheltered differently. Girls are protected from the real dangers of society but also the ones, which are possibly fictional, or of an adult's exaggeration. Girls in particular are sheltered from the real adult world. The sexualisation of adults' contact with children means girls are seldom allowed to walk alone, or spend much time on their own. This treatment causes girls today to be segregated from society from the start of their lives. This influences the way they live their life and attitudes they have towards their influencing adult guides. When children are allowed out ‘to play', boys seem to be allowed out later than girls or more trust and leniency. Although childhood is seen as psychologically influencing on a persons' life adolescence is both psychologically and physically changing. Adolescence is a time for psychological adjustments to the physical changes in the child's body. For young girls and women it is normally related with developments of secondary sexual qualities such as breasts, and body hair. When we become adolescence's we gain legal responsibilities. At the age of 16 a young woman can give consent to sexual intercourse with a man. Before this age a young woman will in the eyes of the law be seen as irresponsible and unable to give responsible consent. Also at the age of 16 a young man and woman may get married however although legally responsible to have a sexual relationship and possibly bare children, the young adults must have parental permission. Their responsibilities are too high to be married from their own choice at this age. The legal view on heterosexual relationships seems a reasonably understandable law, compared to the opinions on homosexual relationships. Homosexual relationships between men are not legal unless both parties are 18, however same sex relationships between two women are legal at any age. It is evident from these figures that young men and women have a different statues in law reflecting different assumptions about masculinity and femininity. Young people become legally responsible for their actions from their age of 10. This makes youth today so much longer than it was many years ago. This extended period in the youth phase causes extensive protection from the parents. One explanation for this could be the increasing choice by children to stay in education for a longer period of time. The number of young people choosing to go into higher education increases because of more opportunities, larger choices in courses and the range of training schemes increases. It is apparent that young people especially women seem to be spending longer being trained and educated, and then having greater uncertain futures because finding full-time work is increasing remote. This is especially apparent for young people because they are most affected by unemployment. Young women have come through time from not being educated to spending more time in education than young men. Government reports have stated that young women do considerably better in school than young men due to a stronger ambition to be successful and ability to concentrate their efforts into studying. It is generally stated that adolescence is a period of stressful experience. However an anthropologist Margaret Mead challenged this. She studied adolescent women in eastern Samoa (1943) and found no evidence of role confusion, conflict or revolt. Suggesting that adolescence was not world-wide and biologically determined but ethnically variable, and that the stresses of this time could be socially determined, and because of confusing status to which, young people find themselves consigned by particular communal forms. It is a wide-ranging protest from adults to complain of adolescent deviant behaviour however this suggests that it is the western societal norms which push adolescents to be seen as irresponsible and problematic to society. Adolescence is a particular distressing time for young women. Trying to conform to societies views of how to behave and to trying to keep their reputation with friends and partners at the same time makes life very traumatic. The behaviour of teenage women is partly the result of being treated differently from boys through their life. As was stated earlier women are seen as more in need of care and protection. Parents ‘police' their daughters more strictly than their sons. This then is linked to the ideological definition of ‘appropriate behaviour of women'. Sue Lees (1986) has shown how boys control young women in the public eye through threat of labelling them sexually promiscuous. It is expected of young men to copulate but for a young women to continue with the same behaviour would result in such labels as ‘slag' or ‘slut' and ‘scrubber' or an ‘easy lay'. This labelling is less to do with the actual sexual action rather than to the extent to which young women's behaviour deviates from the normal ideas of femininity. For example a female should not be seen using foul language or rough behaviour as they could be classed as a ‘tom boy'. Sexuality is classed in very different ways. Both sexes are concerned with reputation; the basis on which it rests is very distinct. For boys sexual reputation is enhanced by varied experience boasting to their friends for all the girls they have ‘made', for a girl reputation is to be guarded. It is to be under threat not merely if she is known to have sex with anyone other than with her steady boyfriend but also if she goes out with several different boys, or dresses in a certain way. To remain a ‘nice' girl a young woman must suppress any sexual desire, and instead conform to the dream image of romantic love and complete monogamy. This double standard serves to constrain the public and private lives of young women to ensure conformity based on a model of sexuality, which ultimately takes its form from the ideology of the nuclear family. Feminist sociologists' arguments showed that post ideas that suggestions of femininity and masculinity classed as natural were actually of a social origin. Young people apparently learn roles. Mc Robbie and Garber stated that young women didn't ‘rebel in the same way which young men did but instead used the ideal romantic fantasy as a form of escapism. Sue Lees (1986), Christine Griffin (1985) and Clair Wallace (1987) have looked into the theory of the role that romantic love fantasies have in young women's lives. They are apparently not deceived by characters lives portrayed in women's literature, but actually have realistic ideas of married life. It was also believed that young women have tactics of resistance for example ‘tom boys' or pregnancy, which are not in the ‘nice' girl stereotype. They state that an important aspect in young girls lives is their status and independence inside and out of the family that could be achieved by them acquiring a job by themselves. Sharpe (1995) study contrast to an earlier study found that young women interviewed no longer saw marriage and parenthood as their only goal in life. These studies show a change in young women's views and opinions; however, it causes views of people to think young girls are rebelling against the norms of society because family life is not their first objective in life. The media is one of the most influential aspects to people's lives. It is used to inform, sell, advise, and help the readers and many other uses. Young women are important customers of media resources. There are magazines, which particularly target young women and influence their lives. The magazines give advise on romance, hygiene and behaviour according to societies rules at the time. 80% of magazines are articles about fashion and appearance pushing young women into a proposed look. They steer young women to see romance as standard and as an ultimate goal in life to have a ‘normal' steady monogamous relationship leading to marriage and all as typecasts with a male companion. According to these magazines the main interest of their teenage years is in getting a man'. The young women become immersed into the ideology of romance and of ‘falling in love'. Adulthood is associated with taking up full status in society, having sexual relationships, getting married, having children, having a full time stable job, and living in an independent household. When we become an adult we associate it with citizenship status -the right to vote, to take loans, or to enter legal contract we are given responsibility and trusted. This legal responsibility is associated with the turning of age to 18. There are many physical body aspects, which are also associated with adulthood. Such as first menstruation, and first sex. This today is more associated with the teenage years because of younger people having sex earlier and young girls developing into women earlier so the legal opinion of an adult may not be the same as a physical adult. The transition of adolescence to adulthood can be more meaningful for women than young men generally because young women marry earlier, have sex earlier and many other things earlier than men. It is often said than young girls mature earlier than young boys. It is a stressful time for women when the beginning of sexual activity occurs. It is a time of pride and manhood for males while traumatic and cautious for women. Not to be seen on the one side as ‘frigid' or a promiscuous ‘slag' on the other (Cowie and Lees 1985; Halson 1991). Marriage, childbirth and parenthood are also parts of adulthood that are given different meanings from men than women. This seems to be because although attitudes are changing in society today women in the main have the foremost responsibilities and usually end up interrupting their careers to care for children. Today it is increasingly popular for single parent families which again is mostly women taking the responsibilities, the majority of about 90% of single parent families are headed by women. Baring children is also seen as hindering a women's working career and leisure life. The process of pregnancy changes a women's body, and although both men and women's bodies change in the life course this can be seen as the biggest change a women can experience. Increased hormones and the gradual growth of the baby stretches and changes the women's normal body shape. This change, during pregnancy and after can affect a woman greatly because of opinions of what a woman should look like. It is looked upon badly if the bulge during pregnancy is on show when in the public eye. It is a nature event that is seen as part of a women's' meaning on earth. However, it cannot be looked upon, only in disgrace. Is it a disgusting view to see a woman pregnant? Or is it disgusting to see a woman out of shape, from societies view of what a woman should look like, as I suspect it could be. Women's careers are perceived as more intimately tied to their biology and reproductive cycles than are men's. Men's bodies are defined by their performance and action in the labour market and public life. Their reproductive functions and their bodies are seldom referred to and are seen as unproblematic. Women's body shape and reproductive functions are constantly studied and are sometimes referred to as determining their lives (Ussher 1989). In the media it is women's bodies that are used to sell their products. A car advert will usually at some point show a young stereotype of a woman draped over their product in order to sell it. It is unusual to see a man or even a larger woman used in the same way. Women's lives are constantly referred to by their menstruation. They are frequently seen as ‘victims' of ‘ragging hormones' either because of ‘pre-menstrual tension' or because of menopause. Each case supposedly causes women to ‘suffer' from temporary indisposition that can sometimes become ‘insanity'! This then could be the reason why it is used for reasons of moodiness, road accidents and even cases of murder. On account of these biological ‘problems' women's lives are intervened with medical attention and even seen as a kind of disease. Women can be recommended hormone replacements therapy and hysterectomies as a solution to menopausal problems and are given special diets or hormone treatment for pre-menstrual tension. Unlike male bodies women's are somewhat controlled by medical science from the moment of first problems with menstruation or with the need for birth control through to menopausal problems. Some women may never need medical assistance, but most do at some point in their lives. â€Å"Imagine what might have happened in a world with different cultural and moral attitudes towards gender and responsibilities for family planning and children. It is not beyond imagination that we would have ended up with a male contraceptive pill, a medical treatment for male menopause and a classification system of multiple sexes (Oudshoor 1994). One of the most traumatic times in a person's life is the process of ageing. No person wants to loose his or her looks, shape or mind. For men it is loosing their hair or gaining that ‘beer belly'. For women physical attractiveness is the most important feature and loosing this is a major source of anxiety. Women spend thousands of pounds on creams, potions, dieting, exercise and even plastic surgery. Men today are also increasingly purchasing these types of items but it is generally women that advertising is focused on (Arber and Ginn 1991). It has been questioned what is persona purpose in life? One of the proposed reasons is to reproduce, to keep the population. Men are seen to do this throughout their lives, so women who have therefore passed the menopause could be seen as having no use anymore for their reproductive functions and therefore are uninterested in sex. Doctors are more likely to recommend hysterectomies to women than men. In medical textbooks women's ovaries are described as ‘shrivelled' or ‘senile' metaphors, which, imply they are ‘useless', or ‘past it'. Women are classified by their biological position in and throughout their lives. Pre-menstrual' in their youth, ‘pre-menopausal' in their thirties, ‘menopausal' in their forties and ‘post-menopausal' in their fifties, its as though their reproductive organs control women's lives. Women who have children find themselves defined in terms of their roles as mothers and carers. On the other hand childless women are seen as frustrated mothers and somehow incomplete. It is as if a woman's ultimate goal is to bare children. A childless woman is classed as having psychological inadequacies or a lack of feminine qualities. Today many more women are pursuing careers rather than starting a family, this is seen as selfish whereas men are not exposed to such punishments. It is seen as acceptable for a man to never be a part of a family. Women's lives are seen as shaped by their biological bodies and the changes these bodies undergo. Men's lives by contrast are seen as shaped by their achievements. Throughout our lives we are governed by our sex and opinions made by society which label us according to our sex. These labels are started through opinions made from birth, which stay with us until death.

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American Dream Obstacles Essay - 1092 Words

Waynedel Hughes Ms. Mosley English III 105 19 October 2017 The American’s Accessibility to the Dream In America, the american dream is interpreted in millions of different ways. One American citizen dreams for millions while another hopes for contentment and a family in the future. Though its rarity is observed, every american is given an opportunity to achieve the american dream if they are devoted to doing so. The american dream is very much alive and could be awfully easy to attain. Saying that obstacles are not present when attempting to achieve the dream is absolutely inappropriate and it is obvious that different factors exist when striving to achieve any dream. These obstacles are so ill-defined that people tend to†¦show more content†¦The Hierarchy of Needs is a chart describing the levels in which a person lies in their current situation. If one is in a situation where they are unable to do things like feed themselves, that person is at the lowest level. Accomplishing all goals and having the freedom to do whatever one likes puts one on the top of this chart. This chart demonstrates that if an individual does everything that plays a large role in life, they are moving closer to achieving their dream. Dreams are always fueled by an individual’s determination, and to achieve the american dream one should simply be willing to and motivated to do so. In the US, oppo rtunities are so common that everyone who wants to achieve the dream has some sort of foundation. The american dream is a very diverse topic and people’s interpretations are typically distinct, but somewhere in the country lies an individual who shares similar background and dreams with one. It is not rare for people in America to motivate each other to be better with a particular thing, and networking with others is not the only form of creating a foundation for a dream. Things like scholarships and secondary education gets an individual a base to soar and create a formidable future for themselves. Social editor Peter Cunningham writes â€Å"Education has always been one of the five core pillars of the American Dream, along with a decent job that can support a family, home ownership, affordable health care and a secureShow MoreRelatedThe American Dream By Lorraine Hansberry1570 Words   |  7 Pagesfreedom and equality. Is this American Dream really attainable for everyone ? Some groups of American citizens seem less likely to ever achieve this dream even if they work hard. Society and their circumstances are against them either because of their race, gender or class. Women, minorities, immigrants and the poor are left out of the American Dream. 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Justin Brooks 12/15/2009 ENGL. 100 CLASS MATTERS Class Matters, by correspondentsRead MoreAmerican Women - A Battle Across All Fronts1649 Words   |  7 PagesThe American Dream - accomplishing greatness with only the clothes on one’s back (also known as the ideal success story) - has been greatly influenced by the role women have played in American History. Women were key in the education of future generations in America and were responsible for instilling true Republican values in them; this process would later be known as Republican Motherhood. Throughout American History, men found women worthy of only one main task: child rearing. This view of womenRead MoreThe American Dream Is Still Alive Essay1610 Words   |  7 PagesThe American Dream Nowadays, many Americans wonder if the American Dream is still alive. At one point in our country, people felt that they could achieve success by working hard. 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Eating Disorders Essay - 2396 Words

Look in the mirror. Do you like what you see? Most of us have come to appreciate ourselves for who we are. While other’s struggle to achieve the perfect body. They strive to be what is depicted in fashion magazines and movies. The never ending obsession to be the perfect size zero. This inevitably can lead to eating disorders. Eating disorders can cause someone to have an unhealthy image of themselves and food is the enemy. In a national survey at the Mclean Hospital in Massachusetts it was estimated that over 9 million people suffer with eating disorders. They can struggle with anorexia, bulimia or binge eating. A study conducted by the National Association of Anorexia Nervosa and Associated Disorders states that most of these†¦show more content†¦People with anorexia may also suffer with dry skin, thinning hair or hair loss, brittle nails, cold or swollen hands and feet, bloated or upset stomach, fine hair growing all over the body and on the face, low blood pressur e, poor circulation, fatigue, abnormal heart rhythms, and osteoporosis. Anorexia slows and prevents growth and stops pubertal development. Suffering from anorexia before the age of twelve is not very common. A girl before the pubertal stage suffering with the disease will not go through puberty. She will physically remain in the body of a child. She will not develop hips, breasts, or buttocks. Her hormones will also remain as those of a child and will have no sexual interest. Fortunately physical development and normal body shape will return upon recovery. There are also behavioral characteristics associated with anorexia to watch for, like having an obsession with food, refusing to eat, forgetting or difficulty in remembering things, obsessive-compulsive behavior, low-self-esteem, loneliness, social isolation, withdrawn behavior, self-hatred, and depression (www.umm.edu/Anorexia nervosa). People who suffer with anorexia may start to skip meals. They will eat very little and start t o make excuses not to eat. An anorexic will often refuse to eat in public and hide her eating habits from others. She will often plan and prepare huge meals for others but not eat any of the food. At times they will take a plate of food withShow MoreRelatedEating Disorders : Eating Disorder1205 Words   |  5 PagesEating Disorders in Today’s World Eating disorders are alive and well in today’s world and they are a major problem. An eating disorder can look like a few different things, ranging from a severe reduction of food intake to over eating to feelings of negativity towards your body shape or weight (Lehigh University). While some disorders can only be found in specific age groups, races, etc., eating disorders can be found amongst all and it does not necessarily have to be pointed towards food (LehighRead MoreEating Disorders : An Eating Disorder1184 Words   |  5 Pagesas an eating disorder. Weir (2016) goes on to explain the origins behind eating disorders in individuals. This topic is important because, in the United States, many women and men suffer from a clinically significant eating disorder at some point in their life. It is important to know the influences that cause an individual to experience an eating disorder. Genetically, or environmentally, or both genetically and environmentally. Anorexia ner vosa, bulimia nervosa, and binge eating disorder are eatingRead MoreEating Disorders And Eating Disorder1573 Words   |  7 Pagesaffects people called an â€Å"eating disorder.† Why did you choose this topic? I chose this topic because it is a very prevalent issue in our society today, and a close friend of mine is suffering from an eating disorder. What question(s) did you want to answer or what was your hypothesis regarding this topic? As mammals, there is no chance of escaping the need to consume food in everyday life. However, when it comes to food there can be a major concern of eating too much or eating too little. Doing eitherRead MoreEating Disorders And Eating Disorder1104 Words   |  5 PagesEating disorder is a serious problem happens in both men and women. Eating disorder is a sort of disease in which a person is having a strange routine of eating like consuming a huge amount of food each time they eat. This can incorporate not eating enough nourishment or indulging. Eating disorder influence many people around the world. The larger part of peoples who are dealing with this issue are ladies. A person with eating disorder issue may focus nonsensically on their weight and shape. EatingRead MoreEating Disorders And Eating Disorder1410 Words   |  6 Pagesâ€Å"An eating disorder is about anxiety and control and healing from trauma and food and weight are just the tools of destruction† (Floyd, Mim ms, Yelding, 2008). An eating disorder is defined as a severe disturbance in eating behavior. An eating disorder, as defined by our text book for class, is psychological disturbances that lead to certain physiological changes and serious health complications. The three most common and most easily identifiable forms of eating disorders include anorexia nervosaRead MoreEating Disorders : Eating Disorder966 Words   |  4 PagesEating Disorders Many people, both women and men of all ages, suffer from the psychological disorder, eating. Up to thirty million people in the world suffer from some kind of an eating disorder. There a two types of eating disorders, anorexia and bulimia, and have several methods of treatment. What is an eating disorder, and what do they cause? Eating disorders are maladaptive and very serious interruptions in eating. They can come in the form of overeating, or not eating enough, they are oftenRead MoreEating Disorders : Eating Disorder1031 Words   |  5 Pagesâ€Å"The eating disorder is a very jealous and abusive partner. It requires a lot of devotion in the extent that you have to devote yourself to tending to the anorexia. There s not a lot of time left over for adult life,† was stated by Dr. Doug Bunnell, a specialist in eating disorders. Eating disorders effect a variety of people. Age, race, and gender aren’t role playing keys in eating disorders. Not everyone gets an eating disorder, but if they do then, it will more than likely destroy their livesRead MoreEating Disorders And Eating Disorder1496 Words   |  6 PagesAn eating disorder is an illness that causes serious disturbances to your everyday diet, such as eating extremely small amounts of f ood or severely overeating. A person with an eating disorder may have started out just eating smaller or larger amount of food, but as some point, the urge to eat less or more has gotten out of control. Severe distress or concern about body weight or shape may also signal an eating disorder. Common eating disorders include anorexia nervosa, bulimia nervosa, and a binge-eatingRead MoreEating Disorders : An Eating Disorder1906 Words   |  8 Pagesobtain their body goal, thus causing an eating disorder. An eating disorder is a psychological condition that is characterized by abnormal or disturbed eating habits. There are three types of eating disorders; which are Anorexia Nervosa, Bulimia Nervosa, and Binge Eating.These disorders affect all aspects of a person’s life, including their psychological, emotional, and physical health. There are many factors that contribute to individuals developing eating disorders including: genetics, family pressuresRead MoreEating Disorders : Ea ting Disorder1235 Words   |  5 PagesEating Disorders Eating disorders are a very serious psychological condition that affects your mind so that you are more focused on your food and weight than you are on everything else. The most known and most commonly diagnosed eating disorders are anorexia, bulimia, and binge eating disorder; however, these are not the only eating disorders. Eating disorders cause psychical and psychological problems, which at their worst can even become life threating. Statistics show that more women are affected

Monetary policy Free Essays

However, share of total employment is still low due to the fact that numbers of Australians work in the services sector. The rate of unemployment rate was also misleading due to the assumption of that paid work of one hour a week means the persons is classified as â€Å"employed† (Henry Thornton, 2013 ). Employment in manufacturing has been declining dramatically (Appendix 10) and the total number of manufacturing Job losses under the Rued and Gaillardia Governments to 143,300. We will write a custom essay sample on Monetary policy or any similar topic only for you Order Now (Sophie Memorable, 2012) Besides, the high exchange rate of Australia due to mining boom make the export sees competitive and make it costly for foreign company to purchase. The industry other than mining such as manufacturing, tourism and overseas enrolment in Australia has experienced significantly reduced in export income. There’s an analysis from the Australia Institute that state out the country’s farmers have lost $43. 5 billion in export income since the mining boom pushed the Australian dollar to historic highs, suffering a 41 per cent drop in export earnings since the boom began (The Australian Institute, 2013). The manufacturing index slumped 6. 9 points 40. 3, the stakes reading since June 2009 and fifth drop in six months (SMS, 2012). A depreciation of ADD is likely to put upward pressure on the rate of inflation. A lower dollar increases the price paid on imports, leading to an increase in imported inflation. The mining boom which is cooling has contributed to the depreciated ADD and caused Australia in a dangerous position and struggling and expecting a recession (Henry Thornton, 2013). Implication for Monetary and Fiscal Policy The Australian Dollar has rising over decades not only because of economic boom, but also thank to the effort of Australian government on monetary policy. During Global Financial Crisis, many countries all around the world has suffered in economic growth. However, Australia has done pretty well and has indirectly contribute to the rising of ADD. This is due to ARAB significantly increased of Aggregate Exchange Settlement (SE) balances to a peak of $1 Billion, which usually runs at $1 billion. As the economy enters a â€Å"Systemic Liquidity Stage,† the central banks become the â€Å"lender of last resort† (LOUR), this provided banks liquidity to support themselves in a period of tough financial condition (Varian Chafer, 2009). Over the course of the cuisines cycle, the ARAB continually tighten and loosen monetary policy in order to prevent inflation spilling over it’s 2-3% average target range. (Appendix 11). The inflation target is the main guide for monetary policy decisions, and achieving that goal takes priority over other goals. The reason why Australia government want to keep inflation rate low is to stabilize the real income, drive up the economy and enhance country’s competitiveness (RUG Barron, 2013). In terms of fiscal policy, government under Gaillardia has failed to perform it well. Competitiveness of Australia’s on-mining sectors has slumping due to high company income tax (30%) as compared to other Asian competitor, for example, Singapore (15%) and government did not spent money wisely on infrastructure which would attract investor. In my own opinion, Australians new government under Tony Abbott should cut down the taxes from income. The action mentioned earlier can boost up the amount of the participation of labor force in Australia. When the worker knows that they are going to have a great earning on their real income, more of them are willing to come out to work in different industry. Appendix 12 shows increased in labor supply (supply rev moves to right) when there’s tax cut. This is following by the increase in Real Gross Domestic Product. When more labor is involve in an industry, more output is produced and leads to increase in GAP Appendix 13. Besides, government should spend more on infrastructure, introducing new technology facilitating investment to attract the investor from foreign country to invest in Australia to increase Aggregate supply and contributes to higher GAP. Appendix 2 Appendix 3 Appendix 4 Appendix 5 Appendix 6 Appendix 7 Appendix 8 Appendix 9 Appendix 10 Appendix 1 Appendix 12 Appendix 13 How to cite Monetary policy, Papers Monetary Policy Free Essays Federal Reserve Board is steadily increasing the interest rates in recent years due to the sharp rise in inflation. In other words, inflation is the main important factor that forced to raise interest rates. It has been noticed first time in 2001, that Federal Reserve has made unprecedented increase in interest rates. We will write a custom essay sample on Monetary Policy or any similar topic only for you Order Now The main objective of Fed to cut interest rates is to control or restrict the flow of money in the economy and indirectly to control spending by the peoples. The change in the interest rates by the Fed for the constant years is able to achieve its objective to some extent. However, some economist’s states that Fed should not increase interest rates as it creates moral hazard and encourages taking greater risk, borrowing more and saving less. Therefore, the Central Bank is always advisable to adopt more ease policy or reduce interest rates as long as inflations remain modest and must be set up in relation to deviations in both output and inflation on desired levels. The Federal Reserve goals for monetary policy are to seek price stability, maximum sustainable economic growth and moderate long-term interest rates. These are the primary focus of every monetary policy and directly affect it’s the decision of Fed. The plan is largely affected by the labor force which is determined by specified demographic factors. It is very much affected by growth of productivity, economic growth, inflation and interest rates. The Federal Board over some past years has been constantly raising interest rates, but in recent months it is trying to edge down interest rates since the summer 2006 and also deciding to keep the inflation low ahead. In the recent Fed meeting, it is concentrated upon to change the basic picture of the economy with help of increasing exports and demand of products in world market. To increase the output at a high speed, to expand jobs and incomes at fast pace and to reduce the underlying stock and to strengthen future economic growth. To gain the confidence of more and more investors by providing effective market conditions, high quality loans at flexible rates. The Fed is also planning to support and promote sustainable growth and price stability and to ease policy to offset the effect of tighter credit conditions and to encourage moderate economic growth over time. REFERENCE Referred to sites:- Invention, Productivity, and the Economy Speech by Federal Reserve Vice Chairman Donald L. Kohn at the Greater  Ã‚  Ã‚   Philadelphia Chamber of Commerce 207th Annual Meeting, Philadelphia, Pennsylvania Dated 11th October 2007    How to cite Monetary Policy, Essay examples

Marketing Plan Of HSBC Credit Cards - Mission And Objectives

Question: Describe about the Marketing Plan for HSBC Credit Cards in Australia? Answer: Executive Summary There was a time when marketing was considered as a secondary function in an organization. With globalization, organizations have expanded in far of places and with this organizations have realized the importance of marketing. Today, marketing is considered as a critical organization function. The nature of marketing has also changed in recent times. There was a time when focus was more on the transactional marketing. With advancements in tools and technologies the focus of marketers has shifted to relationship marketing. The need of marketing is felt by organizations in different industry verticals. With globalization and internationalization and spread of technology there has been an exponential growth and expansion in financial industry. In recent times, credit card has emerged as a crucial financial product. The competition has been all time high in credit card industry. Therefore it is important that credit card firms should also realize the importance of marketing. The report has been developed as the marketing plan for HSBC Credit Cards in Australia. The report identifies the marketing mix of credit cards and based on the analysis it can be said that the Product element is the key. The report identifies that one of the most important role of marketers is to bridge the gap between customers expectations and management perception of customers expectations. Segmentation, Targeting and Positioning is the basis of any marketing plan. The report highlights the important segments for Australian market that should be targeted by the company. As a part of this marketing plan certain marketing objectives are also set and the budget for the marketing plan is also developed. This marketing plan would be useful for HSBC to take their decision about Australian market and this would also help the company to develop their marketing strategy in Australia. Introduction HSBC Credit cards are the part of HSBC Finance Corporation. HSBC Credit cards operate in global market and it has its presence in different parts of the world. It has good presence in markets of Australia, USA and also in emerging economies like India. In this era of globalization, competition is very high in financial industry also. Credit cards are important financial products that have made life easy for number of customers. Companies may not be willing to offer credit card to all the people due to risks involved. Therefore marketing of credit card is a difficult task in itself (Towill, 2009). The marketing plan of any credit card company has to focus on effective segmentation and targeting. It is also important that the marketing plan of companies like HSBC Credit Card should have effective communication channel. The cost of shifting from one vendor to another should not be high and the marketing strategies of Credit Card should detail down the unique things of the card. It can b e said that it is difficult to attain a level of differentiation because all the credit cards companies offers good benefit to customers. Therefore marketing plan has to be lucrative that can attract customers. Product attributes are definitely important features of HSBC Credit card. However, the role of marketing cannot be denied. Even it can be said that the marketing plan of HSBC Credit card should also involve a level of personal selling. A lot could also depend on the way customers are getting enrolled in the program. The objective of this paper is to develop the marketing plan for HSBC credit card, Australia. The marketing plan would focus on all the attributes of marketing, market development and customer relationship marketing. The objective of this marketing plan would be to ensure that HSBC Credit cards could be positioned successful in Australian market. Vision, Mission and Objective For any organization, it is important to have a mission, vision and objective in place. It is important that the marketing plan of HSBC Credit cards should be in line with the vision and mission of the company. The vision, mission and objective for HSBC Credit cards can be discussed as: Vision To help customers to buy their dreams It is a small but meaningful vision statement. The vision is to help customers so that customers can get more purchasing power. Mission To emerge as the best credit card company in Australia with respect to volume of customers The mission statement of HSBC Credit cards is to ensure that it can emerge as a market leader in Australian market. Objectives The specific objectives of HSBC Credit cards can be listed as: To have maximum penetration in the Australian market with respect to competitors. To capture at least 40% of Australian credit card customer base in next 3 years. To focus on default rate. The policies and strategies should ensure that default rate is minimal. The customer satisfaction should be high. The support service should be available 24X7 and customers should be able to interact with customer care executives and get their queries solved. Macro environment Macroeconomic factors are those factors that relate specifically to the broader or wider economy at a regional level or a national level. Such factors affect a much larger population as opposed to a small number. For any credit card company, it is important to have an understanding of the macro economic factors (Lee, 2009). The macro economic factors would include the market conditions of Australia, industry analysis of Australia etc. The macro environment analysis and the market dynamics of Australia can be discussed as: Economic Growth Economic growth is a very important macroeconomic factor that can be used as an indicator by HSBC Credit card to analyse the way economy is moving in Australia. It can be said that Australia in undergoing a decent economic growth and this economic growth should facilitate the penetration of credit card companies. Economic activity is not constant and can change rapidly, thereby affecting the business. Therefore, HSBC has to continuously watch the economic activities in Australia. The economic activities in Australia suffered a setback in 2008 due to global recession. However, Australia is still less risky market as compared to American market. It is expected that credit card business should be a good business in Australia and HSBC should be able to realize good benefits it can get hold of economic factors. Inflation The disposable income of customers is directly linked to inflation rate in the country. Customers may not be willing to spend much using credit cards if the rate of inflation is high. The current inflation rate in Australia is under control. The inflation stands around 2%. People would not feel much challenges if the rate of inflation remains controlled. The inflation rate of Australia was not good in the period of 2008 to 2010 (Martin, 2010). However, the conditions have improved now and with the current inflation rate of 2%, HSBC should not have much of the problem to expand their credit card operations in Australia. The inflation trend of last 10 years in Australia can be shown as: Interest Rates Interest rates also determine the disposable income of customers. Customers may not be able to invest much when the interest rates are high (Sarkis, 2005). The government of Australia has focused to balance on the saving and lending rates so that customers can spend and to saving also. The interest rates factors in Australia are also a good factor for HSBC to expand its credit card business in Australia. Employment The credit card companies have good chance of survival when the employment rate is high. It is one of the reasons that credit card companies have good amount of business operations in developed countries as compared to their operations in developing countries. As per the figure of 2014, the unemployment rate in Australia is only 6.1%. It is a good unemployment rate and it means that there are huge prospects for HSBC Credit card in Australian market. Target market description Segmentation and Targeting is the most important thing in any marketing plan. It is important that the product should be targeted to segmented market effectively. Typically, the targeted market could be selected based on age, gender, income or any other parameter. In this case of credit card, the target market should be selected primarily on the basis of income (Scherhorn, 2010). The disposable income of the customers should be the prime criteria for credit card. The target market for HSBC Credit card would be people in the age group of 20 to 60 years, who are earning. It would include both single and married people. One of the prime objectives to select the target market would be to target the earning people so that the risk of bad debt could be minimized. It would include the business people and the service people. It is important that HSBC should do the background check of all the customers before providing any credit card. The target market of HSBC credit card should also involve the spouses of earning people. To avoid the risks, HSBC should not provide credit cards to the people who are not earning as one of the important considerations for credit card companies is bad debt. The target market selection would not be an easy strategy for HSBC credit cards division and the company should perform effective internal and external analysis before deciding upon the target market. One of the important things for HSBC would be to identify the needs of customers. The target market for HSBC Credit card group in Australia would be a group that uses credit cards for shopping and other purposes. The target market penetration for HSBC would also depend on the market development. It can be said that Australian market is a matured market with respect to credit cards and people in Australia prefers plastic money to perform shopping (Aksoy, 2008). It is also important to mention that the product (credit card) is already an established product in Australian market. The competition is already high in this industry. It is important that HSBC would have to focus on its target market in an intelligent way. To approach the target market, HSBC should perform external market analysis. Porter 5 forces analysis and PESTEL analysis would be a god tool for HSBC. In fact the features of the product (Credit Card) would also depend on the way target market can be identified. The segmentation, targeting and positioning for HSBC Credit card business in Australia shoul d be based on industry analysis and the analysis of competitors. It would be good if HSBC can study the marketing strategy of top three firms in Australian market. Also, HSBC can also analyze the segments of top 3 competitors. It would help HSBC to realize the segments that are being widely targeted by credit card companies. Marketing segment table The marketing segment table for HSBC Credit card would help to realize the characteristics of different segments of HSBC credit cards in Australia. It can be shown as: Segment 1 Segment 2 Segment 3 Segment 4 Geographies Urban population= 100%, Rural population= 0% Urban population= 100%, Rural population= 0% Urban population= 100%, Rural population= 0% Urban population= 100%, Rural population= 0% Demographics Age group of 20 to 55 years Female married women with age group of 20 to 55 years Business man/ women who have taken self-retirement or are retired with age group of 40 to 70 years Senior citizens with age group of 55 to 75 years Socioeconomics Earning member of the family with annual income of individual more than AUD 20,000 Earning/ Non-earning member of the family with the annual income of family more than AUD 25,000 Non-earning member with the savings of more than AUD 200000. Earning/ Non-earning Australian citizens on Pension plan or some tangible assets Psychographics High earning individuals High earning family High earning individuals Senior citizens Behavior Easiness Necessity Luxury Ease of use Benefits Convenience Convenience, Flexibility Convenience, Flexibility Convenience Competitive analysis As discussed above, the competition is really high in financial and credit card industry. There are lots of players that operate in Australian market. One of the objectives for HSBC would be to come up with features so that the products of HSBC could be rated better than the products of competitors (Majumdar, 2010). The competitor information would help HSBC to develop its expansion strategy in Australian market. The competitive audit chart for HSBC Credit card can be discussed as: Competitive Audit Chart Core Products Facilitating Products Strengths Weakness Value Existing competitors ANZ Low interest rate credit card Lowest annual fee ($58) among all the cards Interest rate of only 13.49% p.a. Cash advance rate is very high Value for customers who do not want to pay much interest and are money cautious Westpac Low interest rate credit card Low annual fee ($59) and Establish brand in Australian market Cash advance rate is very high It is get this card. The value for customers is ease of use New competitors Amex Credit card with high limit Large acceptancy among merchandise Establish brand in Global market This card is expensive to use, annual fee is also high Brand value of the product is the value delivered to customers Citi Credit card with good rewards points Cash back offers are very good and attractive Large network of Citi Bank Limited cash withdrawal limit every month Value for money is the positioning from Citi, that is the customer value SWOT analysis SWOT analysis is a simple yet powerful tool for HSBC to develop strategies in Australian market. SWOT analysis would help HSBC to have an understanding of internal capabilities and have understanding of external factors. Strengths Established brand in international market Large company that can scale up quickly Got the ways to make initial investment Weaknesses Large company so it has inflexibility Lot of rules driven and hierarchy driven Threats Uncertain market dynamics in credit card and financial industry Opportunities Large Australian market Increasing demand of credit cards Marketing Objectives It is very important for organizations to have marketing objective in place. Developing the marketing plan without marketing objectives is like driving the car without control in place. The three most important marketing objectives for HSBC Credit Card in Australia can be discussed as: M1: To get the 10% market share by the end of year 1 and to increase this market share to 25% by the end of year 3. M2: To focus on penetration in initial 1 year. It would mean to develop attractive plans for customers. The growth rate should be 20% in initial 5 quarters M3: The focus would not be in profit level in the first year. After first year, company should have a profit growth of minimum 12% Marketing Strategy Typically any marketing strategy would be based on 4Ps of marketing. These 4Ps would include Product, Price, Place and Promotion. It is a combination of these elements that would decide the overall marketing strategy. The marketing element mix for HSBC Credit cards in Australia can be discussed as: Product It can be said that product is the most important element of the marketing mix. The Australian customers would eventually buy the credit cards if they get the value for money. It is important that the company should develop the product based on the product of competitor (Evans, 2012). This strategy is known as outside-in approach of strategic management. This approach is recommended, because market is already matured. Price The price of the product could be the game changer in credit card industry. The competition is high in the market and therefore HSBC have to act as price taker rather than price maker. It is recommended that pricing of HSBC credit cards should be based on the pricing of competitors (Cooper, 2007). Place It is very important that users should be able to get hold of the credit cards. The end customers may not be willing to spend a lot of time in search of credit cards (Croxson, 2006). HSBC must have the option wherein the representatives of the company would visit customers to deliver the credit card. Promotion The importance of promotional element of marketing mix cannot be denied in this globalized world where competition is high. It is important that HSBC should involve itself in high level of promotion on social networking websites. Marketing mix strategy implementation chart April (M1) May (M2) June (M3) July (M4) August (M5) Product Focus on product features (core product) vis-a-vis features of competitors product The focus would be to increase penetration across Australia The focus would be to increase penetration across Australia The focus would be to increase penetration across Australia The focus would be to increase penetration across Australia The focus would be to increase penetration across Australia Focus on additional features and augmented product The focus would be to provide additional and better features that product of competitors The focus would be to provide additional and better features that product of competitors The focus would be to provide additional and better features that product of competitors The focus would be to provide additional and better features that product of competitors The focus would be to provide additional and better features that product of competitors Price Keep pricing low Keep the prices 10% low than the prices of competitors Keep the prices 10% low than the prices of competitors Keep the prices 10% low than the prices of competitors Keep the prices 5% low than the prices of competitors Keep the prices 5% low than the prices of competitors Provide initial discounts Provide joining benefits and annual discounts Provide joining benefits and annual discounts Provide joining benefits and annual discounts Provide joining benefits Provide joining benefits Place Sell online Customers should be provided discounts for online purchasing Customers should be provided discounts for online purchasing Customers should be provided discounts for online purchasing Customers should be provided discounts for online purchasing Customers should be provided discounts for online purchasing Door to Door delivery No additional charge for free home delivery No additional charge for free home delivery No additional charge for free home delivery No additional charge for free home delivery No additional charge for free home delivery Promotion Promotion on social media Focus on FB page and Twitter Focus on FB page and Twitter Focus on FB page and Twitter Focus on FB page and Twitter Focus on FB page and Twitter Promotion through personal selling Hire effective salesmen that can attract customers Hire effective salesmen that can attract customers Personal selling through discounts Personal selling through discounts Personal selling through discounts Evaluation of marketing mix strategy The marketing strategies of HSBC are in line with the marketing objective of firms. It is very important for management of HSBC to keep a track on marketing objectives by evaluating them. The marketing mix evaluation chart can be discussed as: Marketing mix evaluation chart How 1st Quarter 2nd Quarter 3rd Quarter Who Product Focus on core product features vis-a-vis features of competitors product Comparing the number of features of HSBC Credit card with the features of competitors Would be evaluated in first quarter itself Senior management and external consultants Focus on additional features and augmented product Some of the features should be unique to HSBC company Would be evaluated in second quarter Price Keep pricing low Compare the prices of all the credit card companies Would be evaluated in first quarter itself Management of the company Provide initial discounts Track the discount level for each of the customer Would be evaluated in second quarter itself Place Sell online Ratio of online selling to total sales made Continuous measurement Continuous measurement Continuous measurement Sales department Door to Door delivery Ratio of direct selling to total sales made Continuous measurement Continuous measurement Continuous measurement Promotion Promotion on social media Track the customers converted through social media Continuous measurement Continuous measurement Continuous measurement Sales department Promotion through personal selling Track the customers converted through personal selling Continuous measurement Continuous measurement Continuous measurement Budget The marketing budget should be high in the first year because a lot of investment would have to be made from the side of HSBC. Monday Start Date HSBC Sales Support HSBC Public Relations Interactive / Market Development HSBC Advertising HSBC Research Totals by Month, Quarter Year-to-Date Week of Proj Actual Proj Actual Proj Actual Proj Actual Proj Actual Proj Apr 7 2,000 1,500 1,500 2,000 3,000 10,000 Apr 14 2,000 1,500 1,500 2,000 2,000 9,000 Apr 21 2,500 2,000 1,500 3,000 2,000 11,000 Apr 28 2,500 2,000 1,500 3,000 2,000 11,000 Apr Total $9,000 $0 $3,000 $0 $6,000 $10 $10,000 $0 $9,000 $0 37,000 May 5 2,500 2,500 1,500 3,000 2,000 11,500 May 12 2,500 2,500 1,500 3,000 2,000 11,500 May 19 3,000 2,500 1,500 3,000 2,000 12,000 May 26 3,000 2,500 1,500 3,000 2,000 12,000 May Total $11,000 $0 $10,000 $0 $6,000 $0 $12,000 $0 $8,000 $0 $47,000 Jun 2 3,000 2,000 1,500 3,000 1,500 $11,000 Jun 9 3,000 2,000 1,500 3,000 1,500 $11,000 Jun 16 3,000 2,000 1,500 3,000 1,500 $11,000 Jun 23 3,000 2,000 1,500 3,000 1,500 $11,000 Jun 30 3,000 2,000 1,500 3,000 1,500 $11,000 Jun Total $15,000 $0 $10,000 $0 $7,500 $0 $15,000 $0 $7,500 $0 $55,000 Total Q1 $35,000 $0 $23,000 $0 $19,500 $10 $37,000 $0 $24,500 $0 $139,000 Jul 7 3,000 2,000 1,500 2,500 2,500 $11,500 Jul 14 3,000 2,000 1,500 2,500 2,500 $11,500 Jul 21 3,000 2,000 1,500 2,500 2,500 $11,500 Jul 28 3,000 2,000 1,500 2,500 2,500 $11,500 July Total $12,000 $0 $8,000 $0 $6,000 $0 $10,000 $0 $10,000 $0 $46,000 Aug 4 2,000 2,000 1,500 1,500 1,500 $8,500 Aug 11 2,000 2,000 1,500 1,500 1,500 $8,500 Aug 18 2,000 2,000 1,500 1,500 1,500 $8,500 Aug 25 2,000 2,000 1,500 1,500 1,500 $8,500 Aug Total $8,000 $0 $8,000 $0 $6,000 $0 $6,000 $0 $6,000 $0 $34,000 Sep 1 2,000 2,000 1,500 1,500 1,500 $8,500 Sep 8 2,000 2,000 1,500 1,500 1,500 $8,500 Sep 15 2,000 2,000 1,500 1,500 1,500 $8,500 Sep 22 2,000 2,000 1,500 1,500 1,500 $8,500 Sep 29 2,000 2,000 1,500 1,500 1,500 $8,500 Total $55,000 $0 $39,000 $0 $31,500 $10 $53,000 $0 $40,500 $623,500 Controls and Monitoring An important part of any marketing plan is the control and monitoring plan. It is important that management should be able to exercise effective control mechanisms in order to ensure that marketing strategies remains on track. The control and monitoring of the marketing objectives should be the collective responsibility of all the stakeholders. The control and monitoring should start from the top management and would go to lower level employees. An effective control and monitoring plan would ensure that all the processes are standardize in the organization. Conclusion The above marketing plan discusses the marketing objective of HSBC Credit Cards in Australia. Based on the analysis, it can be said that Australian market is a developed market and the market has lot of potential for credit card companies to establish and grow. The credit card market in Australia is already a competitive market but the market is far from saturated. Therefore, there exists opportunity for new companies to come and establish their base in the market. HSBC is an international brand and it has been able to establish good brand reputation. It is expected that HSBC would be able to develop upon its product (credit card). The marketing strategy or marketing objectives of HSBC would be in line with the market dynamics and industry analysis. In first couple of years, the objective of HSBC would be to improve its penetration into Australian market. The initial time would be period where the firm should focus to increase the user base. Once the user base is established, HSBC should focus on extracting profit. Financial sector and credit card industry is a risky industry and therefore HSBC should adopt a balance approach of expansion. The marketing plan would eventually help HSBC to make its product known in the market. The marketing plan would require initial investment but marketing strategy and integrated marketing plan would be a good way for HSBC to reach out to its customers. 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