Income Inequality in America - Free Essay Example

Sample details Pages: 6 Words: 1874 Downloads: 10 Date added: 2019/07/01 Category Finance Essay Level High school Tags: Income Inequality Essay Did you like this example? Income inequality relates to the disparity between the wealthy and the poor. America has the most uneven wealth and its growing very rapidly between the haves and haves nots. The primary reason as to why income is spread unevenly is because of the disparity between classes. the upper class, middle class, and lower class. This essay will discuss classes, skilled and unskilled workers, education, and cause of income inequality. The impact of the diminishing middle class is evident in the corresponding shrinkage of average income jobs. Numerous jobs that are considered routine and once were necessity to everyday life are now disappearing. High school students should be upset, due to the fact they will have fewer economic opportunities than their parents did. Furthermore, my son who will be going to high school next year will have more difficulty climbing the economic ladder and achieving higher financial status with every passing year. ln increasing numbers, individuals born into the middle class are finding themselves pushed into the lower class as the number of middle-class jobs decreases. The American dream, or the foundation of American economics, is now becoming overwhelmingly out of reach. Most people who are considered middle class do not even own their own home, they spend most of their income on renting. This is also part of the wealth gap, having no backing. Don’t waste time! Our writers will create an original "Income Inequality in America" essay for you Create order There is a polarization between the wages of skilled and unskilled workers that has taken a hold of the income inequality Thus, people who are unskilled usually dont get paid as much as skilled workers because they dont have the same knowledge level. advanced countries like the United States have more skilled workers therefore, the demand and wages would increase because of skilled workers, This means there are more skilled workers who have the knowledge to do more than unskilled worker which raises the demand and wages, while unskilled workers demand and wages goes down. This is what causes the income inequality, because of the skilled workers compared to unskilled works. Unskilled workers are expected to have a decrease on their demand and wages because skilled workers have the knowledge to overpower the unskilled. education is another issue that drives the gap of income inequality in the United States. People who live in a wealthier household usually have a better education. For instance, they could afford better school districts, therefore, they could learn better. Unlike the poorer household, the wealthier households have access to resources the poorer household cant afford. If everyone gets the same level of learning efforts the income inequality remains constant. Therefore, if the lower and higher social classes have the same level of knowledge than they both would make the same income to an extent, therefore, there wouldnt be the gap in income inequality. Thus, the social classes have a motive of status seeking. The wealthier agents want to improve their relative positions to achieve more than the lower agents position (Hillman, 2009). Further explanation, wealthier agents and poorer agents actions affect one another because they see each others achievements causing them to want to better themselves. Saying that it is a good thing because the lower income individuals would try harder which would lessen the gap of income inequality, but then higher inco me individuals still have the resources to better them than the lower income individuals. On the contrary, without education, corruption happens; workers that are skilled and unskilled have unbalance wages. So, at the end education plays the major role because workers who dont have the knowledge are being treated unfairly, and corruption is happening because they dont have the knowledge to stop it. All in all, income inequality damages the wealth-making potential of individuals and therefore it is damaging our economy. But lessening the gap is good for the economy, because everyone can make wealth. In my opinion, if everyone has the same wealth making potential then we wouldnt have a problem with the income inequality. Just like I mention, if higher and lower income individuals actions affect one another it could lessen the gap in between the income inequality, because the lower income individuals are trying to achieve to the same level as wealthy individuals. Also, I think that the income inequality gap has to do with the unfairness of certain things. For examples, the tax system and lobbying government officials is the unfair because it doesnt benefit the lower income individuals, thus, leaving the gap in income inequality. This just proves that the income inequality is bad to an extent because wealthier people have the resources to make it that way. Overall, income inequalit y is bad and good to a certain extent either way. In his speech on income inequality, Obama also declares, The idea of success doesnt depend on being born into wealth or privilege, it depends on effort and merit. Although the potential is there, people may not realize it and will end up taking any job they feel comfortable in. Once again, if someone is dedicated enough and puts in the effort, they have the opportunity to achieve a success of great stature. Income inequality is necessary for a capitalist society to thrive as it provides competition, hard work, and innovating ideas. Inequality is necessary to encourage entrepreneurs to take risks and set up new business. If an entrepreneur sets up a business, he may become a millionaire, but also will create jobs and provide incomes for other workers. There may be a gap between the highest and lowest earners, but the lowest earners are still better off than without the entrepreneur (Amadeo). German economist Karl Marx described a system in which a small percentage of people who controlled large amounts of capital, made the most important economic decisions. Marxs theories, known as Marxism, say that economic societies progress through class struggle. A conflict between an upper ownership class that controls production and a lower labor class that provides the labor for production is necessary. Although Marxs theories were developed in the 19th century, many of the same principles apply t oday. In the world power known as the United States, production and consumerism are huge industries that are crucial to the economy. The fact of reality is we need income inequality. Without an overpowering wealthy class controlling corporations and a lower class performing all the labor for these businesses, a successful economy centered on production and consumerism is just not possible. The United States needs a lower class to perform work that is required to run a mixed economy. Although income inequality is an obvious factor in todays economy, I believe nothing should be done to change it. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. Although it may not seem fair that there are rich people blowing money on impractical and meaningless things while people live in poverty, its a reality that the United States has experienced for centuries ( Amadeo). In 1976, the wealthiest one percent of Americans owned 19% of all the private material wealth in the US Today, they own over 40% of all wealth. Their share now exceeds the wealth owned by the bottom 92% of the US population combined. (Edward N. Wolff, Top Heavy: A Study of Increasing Inequality in America Twentieth Century Fund: 1995). Income inequality is usually measured by Gini coefficient According to this method coefficient varies between 0 and 100; while 0 represents complete equality (income is distributed equally among all the population of the country), 100 represents complete inequality (only one person receives all the countrys income, while the rest of the population receives nothing). According to the Census of Bureau, the official Gini coefficient in the U.S. was 46.9 in 2010. The first era of income inequality in the United States lasted from post-civil war to around 1937, but in the following ten years income inequality fell dramatically. Between the end of World War II and the late 1970s, income inequality in the U.S. was reduced; but since 1970s, the situation with wealth distribution has changed. Data from tax returns in 1976 show that the top 1 percent of households received 8.9 percent of all pre-tax income. In 2008, the top 1 percents share had more than doubled to 21.0 percent In the years from 1979 to 2009, the top 5 percent witnessed large increases in income, while the lowest-income fifth saw a decrease in real income. Between 2009 and 2012, income gains by the top one percent increased by over 30 percent, while for the rest income went up by less than half a percent (Income Inequality). Causes Competition with other countries, corporate greed, tax policies, and technological growth are the primary causes of income inequality. U.S. companies must compete with lower-priced Chinese and Indian companies who pay less to their workers. Due to this fact, the U.S. has lost 20% of its factory, traditionally higher-paying union jobs since 2000. In addition to that, service occupations have increased, but workers get paid less. During the 1990s, companies went public to gain more funds to invest on growth. In order to satisfy stockholders, managers are forced to increase profits. Payroll led to less full-time employees and more contract or temporary employees. Recent government tax policies have helped investors more than low wage earners. Since there have been cuts in government regulatory agencies, there are fewer investigations of labor disputes. In addition to that, minimum wage remained the same until 2007. Since inflation increases price on basket of goods and services, lack of wage increase contributes to income inequality due to the value of their money that is decreased over the time (Amadeo, 2014). Conclusion The rich will remain at a greater distance when America taxes the people all the same percentages no matter what their pay is. Until we see a change in the way wages are distributed and taxes are collected, we will continue to see poor remaining poor and wealthy remaining in wealth. Raise the taxes on the wealth and raise the wages then call on the government to build an even more balanced gap in order to avoid what was seen between 1970s and the late 90s. A positive outlook to income inequality is that it will allow our country to keep pushing forward to ensure that we can continue to build on the economy and strive to keep creating jobs that are built to last. A negative aspect to income inequality is that the wealth will be getting richer while the middle class and poor will continue to fight just to make ends meet and try to bridge the gap. Reference International Encyclopedia of Public Policy Volume 3-Public Plicy and Political Economy: Phillip OHara Hillman Arye L. (2009) Pubic Finance and Public Policy Responsibilities and limitations of Government: 2ns Ed. Obama, Barack. Obamas Powerful Speech on Income Inequality. THEARC. Washington, D.C. 04 December 2013. Amadeo, Kimberly. Income Inequality in America. Causes of Income Inequality. About.com US Economy. February 14, 2014. Web. March 5, 2014. Inequality, and Growth. Economic Theory. Vol. 39. Springer, 2009. 269-289. Print. 20 Nov. 2013 (Edward N. Wolff, Top Heavy: A Study of Increasing Inequality in America Twentieth Century Fund: 1995). Inequality.org March 24, 2014. Web. February 14, 2012. This article explains that income inequality is measured by Gini coefficient. According to results of Gini coefficient the income inequality in the United States has become a serious issue.

One Day A Old Wooden Bridge - 1222 Words

One day a long time ago in an old house above a old wooden bridge, there was a boy named Xavier. He had just moved with his sister’s, Bell who was four, and his baby sister Sophie who was a month old. Xavier is sixteen with dark brown hair, and for some odd reason he always smelled like chocolate and mint, he was around 6†1 and a Junior in high school. Plus he had a secret to hide, he was wanted dead for saving his mom and sister from being killed, wanted people are very tricky by the way, his mom was his guard. She had unimaginable powers she was a wiccan, a witchcraft religion, and she was the last of her kind too, and the sister well the people thought she was like her mom. Not long after they moved in, Bell started acting strange†¦show more content†¦He had found her once before in Missouri where they had lived. He had tried to run her off the blacktop where she was playing cards, and some how he had found her again. As he drew closer, he braced himself for the unthinkable. He was going to die and his mom would live as the semi he was within feet Xavier had remember one thing, he had his sisters with him so he quickly picked them up and throw them off the bridge into the grass. Then he had killed the driver and himself. You might ask yourself why did he have to save his mom and his sister’s, but that is a question only he can answer for you. It has been fourteen years since the accident has happened. A new family had moved in to the same house they had two daughters Sophia she is fourteen, and her sister Isabella who is eighteen, and there s this odd thing about a Isabella though she smells like chocolate and mint. Plus both had been adopted thirteen years ago when their mother had died. The sisters have no idea of their brother and they do not know of their real mothers cause of death. One day after school Isabell went to the bridge so she could write an essay on how the water works, and while she was studding the water something weird happened. There was a water bubble under the bridge that magically appeared below her. She heard a voice say â€Å"run, hide, and stay away from here†. She was so scared she fainted. When she had finally awaken, she was in her bed, and she thought

The Great Atlantic Pacific Tea Company Free Essays

The Great Atlantic Pacific Tea Company For decades The Great Atlantic Pacific Tea Company (AP) had dominated the US food and grocery market. However, with its size had come increasing managerial inefficiencies and an inability to respond to demands of changing market. A very crucial error was made in the 1950’s when AP failed to follow customers in their move to suburbs. We will write a custom essay sample on The Great Atlantic Pacific Tea Company or any similar topic only for you Order Now The result, which plagued the supermarket chain into the 1980’s , was a large number of small and inefficient stores serving declining urban neighbourhoods. In 1971, William J Kane took over as chairman and CEO of AP. This was a time when company sales had leveled off and profits were declining. In an effort to overcome this slide, Kane ordered the conversion of thousands of regular AP units to â€Å"WEO† supermarkets, which were described as super –duper discount stores. The average WEO store looked much the same as an old AP and was about the same size (which was rather small and cramped by industry standards). The big difference between WEO’s and company’s conventional units was lower prices on 90% of the merchandise and a reduction in the variety of production offered from an average of items (SKUs) to as few as 8000. Chairman Kane summed up the company’s philosophy regarding this move as a â€Å"Tonnage recovery Program†, which emphasized volume business. He hope to attract many former customers by employing low prices, unfortunately the food costs began to skyrocket about the same time as WEO was instituted . The pressure caused by the price cuts was too much for the company to bear during this period. Therefore, prices were increased and the resulting market response was influential in causing further deterioration of the food giant. In 1973, the retail chain lost its number one market position to Safeway. Jonathan Scott took over Kane’s position in 1975 recognizing that the retail chain had far too many deteriorating stores in declining urban neighbourhoods. Scott embarked on an ambitious program to close more than 1200 unprofitable locations. Unfortunately, hindsight revealed that was also needed was an entire withdrawal from certain geographic areas to achieve fficiencies of operations. In an effort market position, Scott responded by introducing the ill-fated â€Å"Price Pride† advertising program. This advertising campaign focused on telling AP employees and customers that the company had made a rebound and was concentrating on delivering quality products in attractive stores at low prices. It was a spirit – building campaign. Modern Stores with pleasing wide aisles served as a backdrop to the ads. The Price Pride Campaign was quite successful in luring customers back to AP. Unfortunately , shoppers expectation were built on the attractive scenes shown in advertisements, and many were disappointed when they returned because most stores had not really been dramatically changed . As a consequence, customers again left in substantial numbers to shop at competing stores. During the mid 1970’s , an ambitious program was undertaken to build many new and modern AP stores and to remodel others. Regrettably , action fell behind plans. For example, in 1977 when 70 new stores were planned only 46 were opened due to an inability to manage the program. Remodeling also fell far behind schedule. The Price and Pride program was finally abandoned in Jan 1978. Even before this occurred, Scott began to look in earnest for new ways to get the slow moving giant moving heading in the right direction again. Once result was that a new promotional theme was adopted: â€Å"You will do better at AP†. Along with this , three major steps were taken. First , â€Å"action prices† were instituted to pass manufacturers specials directly on to customers in the form of lower prices. Second , Generic products were offered in many stores. These plainly labeled packages were placed in â€Å"economy cases† . located in special parts of the store. The result was that for some products customers could choose between national brand, AP private labels and generics. Third, trading stamps were instituted in many areas. Although some of these measures may have been helpful in slowing the retail chain’s decline , they certainly were not sufficient as a long run turnaround solution. In 1979, the diminishing giant fell to the 3rd position in the supermarket industry and showed signs of serious problems . During that year , the Tengelman group , which owns a large supermarket chain in Germany at the time was able to acquire controlling interests in AP for an attractive price. James Wood was brought in to replace Scott . One of the first moves of James Wood was to stop closing stores . Instead , a number of units were converted in to â€Å"Plus Store† which were â€Å"limited assortment† unit stocking thousands of essential products far less than the 12000 products found in a general supermarket. The stores were also â€Å"no frill† in design. Goods were kept in their cartons , as opposed to being placed on attractive sheleves , and shoppers had to purchase their own paper bags. The emphasis was on offering bare bone services for low prices. However , perhaps because shoppers could not fulfill all of their shopping needs at Plus Stores, and because prices were not really drastically lower than their competitors , the Plus Stores proved unsuccessful as AP entered the 1980’s. 1. Does it seem that AP has tended to favour any particular model or models of buyer behavior? What appears to be the degree of success that has resulted? . Evaluate the relevance of understanding consumer behaviour knowledge to developing a marketing plan for AP .. 3. What additional information about customers would you as a CEO like to have before designing such a plan ? How might such information be acquired ? 4. Trace the development of AP operations from 1979 to present – based on library research. 5. Discuss major concepts from Day 1 seminar discussions you see apparent in this case. 6. What is your personal opinion was the one major flaw in the way AP went about its effort? Support your argument with reasons. How to cite The Great Atlantic Pacific Tea Company, Papers

Marketing Implementing the Market Strategy

Question: Discuss about the Marketing for Implementing the Market Strategy. Answer: Introduction Basically, the main purpose of conducting this research paper is to analyze concepts, role and importance of marketing. In addition, this research would also provide a detailed critical analysis of new product namely Master of Management online by the La Trobe University Australia. Additionally, the market analysis would also be conducted of marketing programs for the latest consumer product. On the other hand, competitive analysis would also discuss along with the score aims of the university. Along with this, this research paper would also provide the discussion about the main competitors of the La Trobe University in the Australia. In the same way, with the help of competitive analysis, Master of Management online programs competitive positioning would be analyzed. Moreover, this study would also concentrate on the various elements of the marketing plan. Along with this, it should also be noted down that, this paper would also develop a clear understanding in the minds of the read ers and students about how to develop a marketing plan for the success in the education sector. Finally, the secondary sources of information would also used in the context of this research study in order to fulfill the aims and objectives of the research paper. Strategic Aims of the University The key vision of the university is "advancement and execution of a system of exploration that has any kind of effect to the prosperity of a different scope of more seasoned individuals living in country groups. In addition to this, the following are the major aims/objectives of university, for example, Lead exploration and development identified with rustic matured consideration workforce and wellbeing conveyance activities Promote interdisciplinary and between institutional cooperation in creating, testing and executing proof based human services conveyance answers for more established individuals in country zones (La Trobe University, 2016). Establish a main country place for distinctions, and postgraduate exploration preparing in rustic matured consideration workforce and wellbeing conveyance activities Equip understudies with the instruments and aptitudes important to create thoughts, to lead and to oversee authoritative exercises crosswise over corporate, government and not-revenue driven divisions, and in little, medium and extensive scale ventures. Produce, from an enhanced admission, graduates very much grounded in science, innovation and designing, equipped for addressing the necessities of society To be a globally and broadly perceived community for quality educating, grant, and research (La Trobe University, 2016). To guarantee that the quality and scope of the Faculty's exercises are perceived by planned understudies Industry Background The higher education sector is comprised of colleges and other advanced education establishments. The Australian Government underpins the division through arrangements, financing and projects. Then again, in the Australia, advanced education is by and large gave by colleges and by other advanced education establishments, for example, Technical and Further Education (TAFE) initiates and Registered Training Organizations (RTOs). Notwithstanding this, it is additionally found that, Australian colleges are presently altogether underfunded for the examination work they do in correlation. Australia's colleges show understudies subsidized mutually by the citizen and the understudies, both of whom advantage. Also, Australia depends on its colleges to convey significantly a greater amount of its exploration than some other first world country. Advanced education framework is comprised of colleges and different organizations that assume a basic part in fuelling development, driving efficiency and giving understudies the abilities they requirement for future achievement (Australian education system . 2016). The Australian Government underpins advanced education through approaches, subsidizing and programs. The Government is looking to actualize changes to advanced education to make a framework that is higher in quality, more open, more aggressive and more feasible. To accomplish these goals, the Government stays focused on conveying strategies that guarantee our advanced education area conveys the instructive open doors and exploration results Australia needs to succeed later on. The Government is counseling with understudies, their folks, establishments, managers, Senators and different partners to guarantee progressing, reasonable and maintainable backing for a versatile, world-class advanced education framework, with evenhanded access for understudies (Group of Eight Australia. 2014). Situation Analysis In this context, several strategic marketing tools would be used to analyze the internal and external situation analysis. Internal Situation: The internal situation of La Trobe University is exceptionally solid and viable in light of the fact that number of enlisted understudies. It likewise gives advanced education at the lower cost as contrast with different Universities in the Australia (Capon, Hulbert, 2007). Customer Market Situation: The customer market situation of La Trobe University is more immersed than different colleges in the Australia since it gives advanced education at the minimal effort with preferred administrations over others to draw in understudy (Drummond, G., Ensor, Ashfor, 2007). Marketing Mix: The marketing mix of La Trobe University is based on product (Educational products/services), price, place and promotion. In product marketing mix situation, University provides higher educational degrees to the students in different forms to attract students for their programs. Moreover, it charges minimum fees for its various educational programs as compare to others. On the other hand, the university is placed on the large metro area that provides competitive advantages to the organization. It also use different marketing tools such as: online advertising, print media, and social media in order to promote its various educational programs (Evans, Richardson, 2007). Resources and Capabilities Situation: The assets and abilities circumstance of La Trobe University is likewise exceptionally powerful because of solid money related conditions. For case, it gives verging on each instructive system to the understudies. External Situation: The external situation of University is extremely solid on account of the most elevated piece of the pie, number of understudies and instructive projects in the training area. Further, it can be likewise comprehend from the accompanying circumstance examination of the La Trobe University (Hill Jones, 2012). Competitive Situation/ Competitor Analysis/Competitive Environemnt: Externally, the situation of La Trobe University in the education sector is better than other universities because of the highest satisfied students. The total market share of the university against other universities is more than 70% at national level on the basis of number of online and offline programs, number of enrolled students. But the university is facing competition from other universities in the nation. For case, the close competitors of La Trobe University are University Of Wollongong, University of Newcastle, Queensland University of Technology, Curtin University, and Griffith University. Moreover, La Trobe University is facing a tight competition from these universities because they are offering similar educational services at the low cost (Kim, Song, Kim, 2009). PESTLE Analysis: In this concern, the political environment of the La Trobe University is extremely solid as a result of the immense backing of the Australian government to extend the training business in other area of the country. In addition, the monetary circumstance is additionally extremely strong on account of the gigantic acquiring through instructive administrations. The social environment is additionally strong due to the understudies and learners that go to La Trobe University to take the benefits of minimal effort administrations. The mechanical environment is likewise great of the establishment since it utilizes PC offices and other data advances. Then again, legitimate environment help the college to create particular and element lawful principles and direction. Further, the ecological circumstance is additionally good in light of the fact that the waste administration framework and it tails every one of the guidelines and direction of law to stay away from any unfriendl y circumstance (Kliatchko, 2005). Critical Issues In New Product Launch The new product will confront the five phases amid its life cycle these are item advancement, presentation, development, development and decay. In each situation, La Trobe University will dissect the objectives, item/administration, cost, and advancement for the new item dispatch in each phase of the item life cycle to discover that objectives, item, cost, and advancement is suitable in current circumstance else it need changes to build income. La Trobe University should change in the new items objectives, item, cost, and advancement as indicated by life cycle stages to build item income, so it would examine the objectives, item, cost, and advancement of new items while consider the present situation (Mason, 2007). Know client and target new market ought to be most fitting two promoting techniques and strategies that the understudy considered to upgrade item income after some time. Client desires and inclinations are changed quickly amid monetary and economic situations are flimsy. L a Trobe University ought to be known its clients and discover matter to changes in their desires and inclinations and afterward changes its methodologies, for example, lower cost, present or changes in items and more adaptable administrations to expand item income or deals extra time (Munizzo Musial, 2010). Marketing Program Critical Analysis The La Trobe University is looking to promote its new Master of Management online program, so the marketing team should adopt innovative marketing strategies to create a unique image in the minds of customers. The marketing team ought to offer new item in officially existing business sector to spare time, cash to make picture in the psyche of clients of new target market. On the off chance that the advertising group could offer in new target market they require high bears to make mindfulness between the clients and make brand picture in the business sector. The showcasing group ought to utilize the situating procedure for advertising of new item to the current target market. The advancement and publicizing is an essential instrument of the advertising system to make position and brand esteem in the business sector. The advancement can be useful to make mindful of the clients about the components and characteristics of the new administration programs (La Trobe University. 2016). For promotion of new management online program, computerized showcasing and web advertising is entirely huge to expand the brand picture in the business sector. This college ought to utilize the social networking and online locales, for example, LinkedIn, YouTube, Facebook, and so on to keep up legitimate correspondence with target clients and enhance its position in the business sector through considered the reaction or criticism. It ought to likewise utilize post office based mail system as it could be send letters to premium gatherings about new remarkably on to the business sector to mindful them about the new item. The college ought to likewise utilize online networking, post office based mail and deals advancement position technique to develop closer and more associations with the clients. In addition, La Trobe University ought to likewise makes its position in the business sector through take an interest and backer of occasions, bolster government natural insurance program. Targeting Strategy Generally, the target strategy is identified with the choice of potential clients, who are favored by the organization to offer items and administrations. According to target technique, it is essential for the La Trobe University to choose suitable clients from the portioned markets to decide and convey the necessities and prerequisites of a specific section. Then again, it can likewise be said that, La Trobe University ought to concentrate on geographic division keeping in mind the end goal to focus on the clients for the item through utilization of online networking promoting exercises (Jianqi, 2013). In addition, La Trobe University ought to targets section through use distinctive showcasing or advancements techniques (as publicizing, deals advancement, presentation, open connection, post office based mail, web, online networking, and so on) while consider their accessibility or viability to make mindfulness and draw in the potential clients (Pride,Hughes, Kapoor, 2014). In the m eantime, La Trobe University ought to concentrate on utilizing different advertising procedures, for example, TV, radio, motion pictures, on line site, daily paper, magazines, sports trademarks, sport occasions, transport cover, unwaveringness plan, and so forth. What's more, this focusing on methodology would help the La Trobe University in drawing in various sorts of clients all the more successfully. Furthermore, with the assistance of focusing on techniques, La Trobe University would have the capacity to advance goodwill and faithfulness and adapt to market changes. By and large, they would have the capacity to accomplish aggressive extension over the contenders adequately (Kampamba, 2015). The Programs Competitive Positioning Strategy Basically, competitive positioning strategy should be utilized by La Trobe University as an imaginative promoting methodology since it would control about what it ought to do in the business sector with their item or administrations to its client so as to make an interesting picture of its brands in the psyches of prospects clients. According to this procedure, a special picture of items or administrations would be made and created by the University in the front of target group by utilizing a few devices, for example, advancement, value, spot and item (Punj Moon, 2002). For case, with a specific end goal to make a one of a kind picture of brand or items, University would embrace focused valuing situating system that would help the it in expanding the brand notoriety and expansions the benefit level. As per this procedure, University would lessen the costs and ready to pull in more clients viably. This system would likewise help the University to expand the piece of the overall indus try successfully. For instance, according to this, entire needs of the present and potential clients legitimately situated by the University, This special procedure is additionally assume a noteworthy part in spurring the conduct of the buyer for the brand (Moons, De Pelsmacker, 2014). Recommendations for new Product Strategy It is recommended that, the La Trobe University ought to receive item situating methodology as it is the "best technique" utilized for both new and existing items. As indicated by this, the college ought to figure out which portion of the business sector to put another item. It ought to likewise utilize two essential item variables in an item situating lattice, for example, "cost" and "time." On the other hand, with the powerful utilization of this, the college would have the capacity to enhance its present position in the business sector and adequately advance its new administration programs (Tsai, Hu, Lu, 2015). References Australian education system (2016) Study in Australia. Available At:https://www.studyinaustralia.gov.au/global/australian-education/education-system{Accessed On: 20 Aug 2016}. Capon, N. Hulbert, J. M. (2007) Managing Marketing in the 21st Century: Developing and Implementing the Market Strategy. Wessex Publishing. Drummond, G., Ensor, J. Ashfor, R. (2007) Strategic Marketing. UK: Routledge. Evans, C. Richardson, M. (2007) Strategy in Action Assessing the Environment. British Journal of Administrative Management, 60, pp 1-3. Group of Eight Australia (2014) Micro-economic reform of the Australian higher education industry: Implications of the Abbott Governments Budget of 13 May 2014. Available At: https://go8.edu.au/sites/default/files/docs/article/edutech_presentation__4_june_2014pdf_version.pdf {Accessed On: 20 Aug 2016}. Hill, C. Jones, G. (2012) Strategic Management: An Integrated Approach. USA: Cengage Learning. Jianqi, Z. H. A. N. G. (2013) The Application of STP Marketing Strategy into VMS Products of Company D. Business Economy, 9, p. 022. Kampamba, J. (2015) An Analysis of the Potential Target Market through the Application of the STP Principle/Model. Mediterranean Journal of Social Sciences, 6(4), p. 324. Kim, Y.A., Song, H.S. Kim, S.H. (2009) A new marketing strategy map for direct marketing. Knowledge-Based Systems, 22 (5), pp. 327-335. Kliatchko, J. (2005) Towards a new definition of Integrated Marketing Communications (IMC). International Journal of Advertising, 24(1), pp. 7-34. La Trobe University (2016). Master of Management online. Available at: https://www.latrobe.edu.au/online/master-management {Accessed On: 19 Aug 2016}. La Trobe University (2016). About Us. Available at: https://www.latrobe.edu.au/ {Accessed On: 19 Aug 2016}. Mason, R. B. (2007) The external environments effect on management and strategy: A complexity theory approach. Management Decision, 45(1), pp. 10-28. Moons, I., De Pelsmacker, P. (2014) Developing different types of anticipated experience positioning for electric cars. Journal of Brand Management, 21(3), pp. 216-235. Munizzo, M.A. Musial, L.V. (2010) General Market Analysis and Highest and Best Use. USA: Cengage Learning, Pride, W., Hughes, R. Kapoor, J. (2014) Foundations of Business (4th ed.). USA: Cengage Learning. Punj, G. Moon, J. (2002) Positioning options for achieving brand association: a psychological categorization framework. Journal of Business Research, 55(4), pp. 275-283. Tsai, C. F., Hu, Y. H., Lu, Y. H. (2015) Customer segmentation issues and strategies for an automobile dealership with two clustering techniques. Expert Systems, 32(1), pp. 65-76.