Report on Aspect of Contract and Negligence for Business - Free Essay Example

Sample details Pages: 8 Words: 2284 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? Report on Aspect of Contract and Negligence for Business- Lo- 3, 4 Executive Summary In this report the materials are what is Liabilty in Tort,Contractual liability,Nature of negligence what the elements of Tort, what Negligence, Vicarious Liability is and what is elements of negligence and I have explained how the elements of the tort of Negligence effect the business situations and how the elements of Vicarious Liability effect in business situation. Table of Content Topic Page No. Letter of transmittal 2 Acknowledgement 3 Excutive Summary 4 Contrast liability in tort with contractual liability 6 The Nature of Negligence 7-8 Vicariously Liable 9 Tort of negligence and defences in different business situation 10 Vicarious Liability 11 Reference 12 Contrast liability in tort with contractual liability Liability in tort Some sort of tort is really a legitimate time period expounding on a new violation where one person reasons injury, personal injury, or even difficulties for another individual. Your violation might originate from intentional measures, a new break connected with work like negligence, or even caused by a violation connected with statutes. Your bash in which commits the actual tort is termed the actual tortfeasor. Some sort of tortfeasor incurs tort the liability, which means that theyll need to pay the actual target to the damage they brought about them..In other words, this tortfeasor who is located for being à ¢Ã¢â€š ¬Ã…“liableà ¢Ã¢â€š ¬Ã‚  as well as accountable for a new personà ¢Ã¢â€š ¬Ã¢â€ž ¢s accidents will likely be required to pay out injuries. Beneath most tort laws, this damage sustained through the plaintiff wont have to essentially end up being physical. Any tortfeasor may perhaps be requir ed to pay out injuries intended for other forms involving cause harm to, which includes emotive worry or a violation involving personalized privileges. For Example- Garratt v. Dailey Five year old Brian Dailey (D) pulled a chair out from under Ruth Garratt just as she was about to sit causing her to fall and break her hip. Garratt brought suit for personal injuries and alleged that Dailey had acted deliberately. The trial court entered judgment for Dailey and found that he had not intended to injure Garratt. The court nevertheless made a finding of $11,000 in damages in case the judgment was overturned on appeal. Dailey appealed. Contractual Liability- Contractual the liability is thought as any the liability that is just not gonna come up incidentally involving negligence, although by means of predictions within contract or even deal. It is often misunderstood, in which this sort of the liability is vital into the insurance coverage in addition to threat managing indust rial sectors.This insurance protects the insured in the event of damage, he assumed liabilities, expressed or implied, is made ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‚ ¹under a written agreement for the. For example, the construction contract with a municipality, the contractor for any accidents arising out of job hold harmless municipality is agreed to. The municipality will be responsible to create contractual liability insurance, which will protect the contractor from any damage. Don’t waste time! Our writers will create an original "Report on Aspect of Contract and Negligence for Business" essay for you Create order For Example Tesco v Constable The Nature of Negligence Negligence Negligence is usually a inability make use of sensible care in which ends up with problems for a different bash. Below carelessness legislations, there are 2 various kinds of carelessness. In one variety, a person can an issue that a practical person wont complete. Inside different variety a person does not work out to take action which a sensible person might decide on keep damage.Both forms of negligence can result in anegligence lawsuitfiled against the party responsible for the damage. Nature- Duty of Care-the defendant owed them a duty of care; Duty of carerefers to the circumstances and relationshipswhich legal issues acknowledges as giving surge into a legal work to adopt health care. A failure to adopt like health care could lead to the actual opposition currently being prone to shell out damage into a get together whos going to be damaged as well as is afflicted with burning. as a result of their breach ofduty of care. Theref ore it is necessary for the claimant to establish that the defendant owed them aduty of care.The existence of aduty of caredependsonthe type of lossand different legal tests apply to different losses. Thislecture considers the position in relation to personal injury and property damage. Seethe other lectures forpsychiatric injury, pure economic loss and defective items. For Example-Donoghue v Stevenson. Breach of Duty- the defendant was in breach of that duty; Breach of dutyin negligence liability may be found to exist where the defendant fails to meet the standard of care required by law.Once it has been established that the defendant owed the claimant a duty of care, the claimant must also demonstrate that the defendant was inbreach of duty. The test ofbreach of dutyis generally objective,however, there may be slight variations to this. For Example-Vaughan v Menlove(1837) Causation- the breach of dutycaused damage and; Causationrefers to the enquiry as to whether the defendants conduct (or omission) caused the harm or damage.Causationmust be established in all result crimes. Causation incriminal liabilityis divided intofactual causation andlegal causation. Factual causation is the starting point and consists of applying thebut fortest. More often than not, where right now there exist not any complicating factors, factual causation without attention will probably be all you need to determine causation. However, in certain circumstances it will always be needed to consider appropriate causation. Under appropriate causation the actual result should be the consequence of culpable take action, there isnt any qualification that this take action from the defendant had been the sole bring about, there has to be not any novus actus interveniens plus the defendant should acquire his or her unwilling recipient while he or she confirms your pet (thin mind rule). For Example- R v White[1910] Damage- the damage was not too remote A pecuniary com pensation or indemnity, which may be recovered in the courts by any person who has suffered loss, detriment, orinjury,whether to his person, property, or rights, through the  unlawful act oromission or  negligence  of another. For Example- Scott v. Donald Remoteness Relates to the requirement that this harm should be of the direct kind. In negligence boasts, once the claimant has established that this opponent owes these some sort of job of treatment and is particularly throughout break of their job that has caused harm, they have to additionally display that this harm wasnt too remote. Seclusion of harm need to be applied to boasts beneath the Occupiers Liability Works and nuisance boasts. Remoteless of damage can often be known as an additional procedure of managing tortious responsibility. Its not all decline will be recoverable throughout tort regulation.. Originally a defendant was liable for all losses which were a direct consequence of the defendants breach of duty: For Example: Re Polemis Furness Withy Company ltd. Vicariously Liable Vicarious liability is the process of holding a person accountable for the actions of another person. Often, the concept of vicarious liability applies to  employer liability  for the actions of their employees. If someone is injured in the course of their employment, an employee, the employer may be subject to vicarious liability. This is only the injured person rather than the employee, the employer will not be able to win compensation for the damage.Its compensation for an employer to an employee rather than an injured person is often pursue. It is likely that the employer has insurance cover for damage, the deep pockets, and, in general, greater than the employee who the employer may have the financial means because.These employees can always count on getting away Scot-free, though, is not to say. Vicarious liability, even if the injured person will not necessarily give up any rights he did not pursue individual employees. For some reason, the injured person is unable to get compensation from the employer in full, then the employee may seek to recover the balance. (In practice this rarely happens, though) In addition, the employer may seek reimbursement for any amount paid to the person injured as well.In the insurance business, employers and employees of their employment, they must generally be vicarious liability for the damage will be estimated. For Example-Lister v Hesley Hall Ltd (2001) Tort of negligence and defences in different business situation Anz properties and Golam Morshed There is a contract between Anz Properties Limited and Golam Morshed with some law on terms which includes all terms and condition.This contract form was made by Anz Properties limited.After signing the contract this shows that both parties are agreed with the terms and conditions.There is also written in the contract that anz properties have to include earthquake prove materials. After completing the project anz properties handover the building to Golam Morshed.After few years in 2005 there was earthquake in Bangladesh and it has been effected many building including Golam Morshed Apartment.So Golam Morshed went to Anz Properties office and and said about this things but Mr Humayan Parves was denying this things that they included earthquake prove raw materials.Then Golam Morshed went to the court to sue them and the court give the permission to investigate.The investigator found that they have been used but they used very poor raw materials but in contract there was written they will use best raw materials in buildings.So investigators it was a negligence and it is done by Mr Humayan Parves and this was a breach of duty. So after getting all the prove ,the court odered anz properties to renovate the whole building or give some money to Mr Golam Morshed.For anz properties it was a great loss and Mr Humayan Parves is responsible for that. Nanna Biriyani There is a contract between Nanna Biriyani and Hazi Monjur with some law on terms which includes all terms and condition.This contract form was made by Nanna Biriyani.In terms condition Nanna Biriyani specifically said that they will never harm their customer by serving germs food.So in 2007 in the month of Shab-E-Barat night there will be full of customer in Nanna Biriyani Branch at Becharom Dewari,there are very crowd at that night,So by mistake one staff gave expired Bhorhani which was made before Shab-E-Barat and it was not preserved in Freeze.After drink that Bhorhani customer become ill very badly after that he admitted in the hospital,After few days he again came back to Nanna Biriyani and claim about Bhorhani but the staff denied about the matter so claimant went to court to sue them.The court give the permission to investigate.The investigator found that there was a negligence by staff and claimant become ill because of that and the supervisor whose duty to check this kind of situation who did not check it properly so it was his breach of duty. Vicarious Liability Bellal Pharmacy In 2009 there was pharmacy store at lalbagh.Mr belal is selling all times of medicine,Day-by-Day his business is going so well.He is very well known in Lalbagh.So one day one customer came to buy Rice Saline for his sister.The customer bought 6 rice saline without checking the expired date.His sister ate the rice saline and become ill and after few days she become very ill. After inve stigating all this things the customer went to the court to sue him.The court give the permission to investigate his pharmarcy store.The investigor team found that Mr bellal is selling expired date medicine from long time ago by changing the date with his Marker.Mr bellal agreed this things and agreed to give full compensation and treatment cost of that customers.So Mr.bellal is liable for this situation. Nanna Biriyani As we all know that nanna biriyani is one of the tasty food in Bangladesh.So in 2012 to make more profit they used to give filter water.So one day there they forget to bring the water tank and they give customer unboiled water directly from water pump.Many customer drink and become ill because the customer did not know about the matter.if they obiviously they wont drunk this types of water.So after few days many of the customer came and claim nanna biriyani but they denied.So many people went to the court to sue them. The court give the permission to investigat e nanna biriyani.After investigate Nanna Biriyani the investigator team found some times they do this things and they agreed.so Nanna Biriyani was vicariously liable for this things and nanna biriyani gave a compensation or treatment cost of the claimant so it was great loss for the organization and it might be effect very badly on the reputation of the organization. Reference Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: www.findlaw.co.uk/law/accidents_and_injuries/accident_claims/500045.html. Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: www.legalmatch.com/law-library/article/tort-law-liability.html. Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: https://torts.uslegal.com/negligence/defenses-to-negligence/. Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: https://www.rehab-bd.org/viewCompanyPage.php?companyID=1468action= contact . Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: www.antiessays.com/free-essays/Vicarious-Liability-One-Of-The-586216.html. Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: www.avvo.com/legal-answers/are-we-really-liable-and-what-are-our-options960989.html. Last accessed 11/June/2014. Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: https://www.louisianapersonalinjurylawyerblog.com/2013/04/understanding_the_duty_of_care.html. Last accessed 11/June/2014 Turner Hodge, CR SH, 2004.. (2012).unlocking tort.Available: https://www.e-lawresources.co.uk/Duty-of-care.php. Last accessed 11/June/2014. Book Reference Turner Hodge, CR SH, 2004. (2004).unlocking tort. london: Turner Hodge. 1-100. 1

The Merchant of Venice and Shylock Offering - 901 Words

Many different people can be good or bad or might seem good but actually bad or the other way around. In The merchant of Venice by William Shakespeare, shylock, the money lending Jew, is seen more like a villain then a victim. Shylock is a villain because he cares more about his money then he cares about his daughter, he is not merciful towards shylock and hewants a pound of flesh from Antonio for hi revenge. First of all shylock is a villain because he cares more about his ducats then his daughter, Jessica. Shylock cares more about his money then his daughter because when Jessica left home with Lorenzo, that she planned to elope with, shylock was really mad because his daughter left but mostly he was mad because she left with a lot of†¦show more content†¦This quote is Shylock offering to Antonio the money interest free but under the condition of one pound flesh if he does not repay in time â€Å"Expressed in the condition, let the forfeit/be nominated for an equal pound/Of your fair flesh to be cut off and taken†(I.iii.151-153). Shylock wanted revenge towards Antonio for what he had done so he made this bond this proves that shylock is a villain In conclusion, Shylock is a villain since he does not care about his daughter more then his money and he wants revenge on Antonio by getting a pound of flesh. Like you can see in the merchant of Venice by William Shakespeare, Shylock is seen as a horrible man. People are good or bad those this mean they were born that way or you get bad or good later on in life. Works cited Shakespeare, William. The merchant of Venice. Ed. Louis B. Wright and Virginia A. Lamar New York: Simon and Schuster Inc, 1957.Show MoreRelatedWilliam Shakespeares The Merchant of Venice Essay1262 Words   |  6 PagesShakespeares The Merchant of Venice The Merchant of Venice by William Shakespeare features, Shylock a very controversial character due to his religion, profession and personal traits. Professionally Shylock lends money to people in debt, in order to gain interest and profit. Although, this is very much central to our modern way of life, in the Elizabethan period, money lending was not accepted as an acceptable profession. Throughout The Merchant of Venice Shylock is portrayedRead More Essay on Justice vs. Morality in Measure for Measure and Merchant of Venice1107 Words   |  5 PagesJustice vs. Morality in Measure for Measure and Merchant of Venice    There are many similarities shared between Shakespeares plays, Measure for Measure, and The Merchant of Venice.   The underlying theme of each work is well defined by the phrase Justice without the temperance of mercy, is power misused.   I will support this claim by drawing upon some of the characters and situations that are consistent in each story. In each story a mans life depends on the interpretation, andRead MoreThe Merchant Of Venice By William Shakespeare1206 Words   |  5 Pageshusbands, not as autonomous in their own individuality. How does The Merchant of Venice interrogate this ideological (and historically factual) denial of female selfhood through the words and actions of Portia and Jessica? 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Secondly, as a means through which Portia gives and then regains control of herself, her weath and power and finally, the theft and sale of Leahs turquoise ring acts as a source of sympathy towards Shylock and allows him to parallel the Christian husbands, Bassanio and Graziano. A ring is, in andRead MoreWilliam Shakespeare s The Merchant Of Venice2059 Words   |  9 Pagesin The Merchant of Venice resembles a folktale known as â€Å"A Pound of Flesh† (325). Artese supports his supposition with background context and parallels between the two story lines. Literary versions of the pound of flesh story circulated during the sixteenth century and were collected since the nineteenth century because of the plot’s longevity and populairity Shakespeare would have been familiar with pound of flesh stories (326). Human commodification is a central issue in both The Merchant of VeniceRead MoreEssay about Shylock in The Merchant of Venice by William Shakespeare1704 Words   |  7 PagesShylock in The Merchant of Venice by William Shakespeare William Shakespeares The Merchant of Venice contains an array of interesting and complex characters. From the alternately generous and grasping Antonio to the alternately love stricken and exploitative Bassanio to the vulnerable and manipulative Portia, this play has an abundance of multi-layered personalities. However, one of the most intriguing characters is also the most oft-vilified and minimized in the work. This characterRead More Appearance vs. Reality in The Merchant of Venice Essay1058 Words   |  5 PagesAppearance vs. Reality in The Merchant of Venice The Merchant of Venice explores the theme of Appearance versus Reality. The theme is supported with many examples in the form of characters, events and objects. During the discussion of the bond, Shylock says to Antonio â€Å" I would be friends with you and have your love† and â€Å"this kindness will I show†. He pretends to be Antonio’s friend, but he has an ulterior motive, which is to take a pound of Antonio’s flesh from whatever part of his body

The Secret of Ella and Micha Chapter 15 Free Essays

8 months earlier†¦ Ella â€Å"You’re not seriously going to climb up that tree, are you?† Micha frowns at me through the dark. He’s dressed in a pair of sexy jeans that make his butt look good and his black t-shirt fits him perfectly. â€Å"You’re gonna break your neck. We will write a custom essay sample on The Secret of Ella and Micha Chapter 15 or any similar topic only for you Order Now † I rub my hands together and give him a devious look. â€Å"You know how much I love a challenge.† From behind him, the moon shines from the sky and his blonde hair nearly glows. â€Å"Yeah, but you’re a little out of it right now and I don’t think you should be climbing up any trees.† â€Å"I’ll be fine.† I wave him off, pushing the sleeves of my leather jacket up. He always worries about me. I like that he does, but it doesn’t mean I always listen to him. â€Å"Besides, if my dad catches me coming in, and he happens to be sober, I’m going to get chewed out for sneaking out and being drunk, especially because I was supposed to be on mom duty tonight.† Gripping a branch, I attempt to wedge my foot up in the tree. But it falls to the ground and I grunt with frustration. Micha laughs, shaking his head as he walks around behind me. â€Å"If you break your neck, pretty girl,† he says. â€Å"It’s not my fault.† â€Å"You know your nickname for me is not fitting.† I grab the branch again. â€Å"You need to think of a new one.† He sweeps my hair to the side and puts his lips beside my ear. â€Å"It’s completely fitting. You’re the most beautiful girl I know, Ella May.† Through my foggy brain, I try to process what he’s saying. â€Å"Are you trying to be funny?† He shakes his head. â€Å"I’m being completely serious. But there’s no need to panic. I’m sure you’ll forget all about it by the time morning rolls around.† I bob my head up and down. â€Å"You’re probably right.† He laughs again and his warm breath tickles my ear, sending a shiver through my body. I almost turn around, rip open his shirt, and thrust my tongue into his mouth, but I don’t want to ruin our friendship. He’s all I have at the moment and I need him more than air. So I bottle my feelings up the best I can. He spreads his fingers across my waist where my shirt rides up, making the situation a little awkward. â€Å"Okay, on the count of three I’m going to boost you into the tree. Be Careful. One†¦ Two†¦ Three†¦Ã¢â‚¬  He lifts me up into the tree and I swing my legs up. The bark scratches at the back of my legs a little and the palms of Micha’s hands cup my ass as he pushes me up the rest of the way. It makes me giggle. Once I’m up, he climbs up himself. His hands reunite with my waist and he assists me up the tree and into my window. I tumble through it and onto the floor with his quiet laughter surrounding me. â€Å"You’re going to regret this in the morning,† he says with laughter in his voice. â€Å"You’re going to have a headache from hell.† I kneel beside the window as he steps back out onto the branch. â€Å"Hey, Micha.† I crook my finger at him and he rolls his eyes, but tolerates me and returns to the windowsill. I throw my arms around his neck. â€Å"You’re my hero. You know that?† I kiss his cheek. His skin is so soft. I start to move away when his head turns toward me and our lips connect briefly. When he pulls back, I can’t read him at all. â€Å"Sweet dreams, pretty girl.† He grins and climbs back down the tree. My head becomes even foggier as I shut the window. Did he kiss me on purpose? I shake the thought away and wrestle my arms out of my jacket. The house is silent, except for the sound of flowing water coming from the bathroom. I head out into the hall, figuring my mom’s left the bath running again. She does that sometimes when she’s distracted. The door is locked, so I knock on it. â€Å"Mom, are you in there?† I call out. Water swishes from inside and I realize the carpet beneath my feet is sloshy. I sober up real quick, and rush to my closet to grab a hanger. Stretching it out, I shove the end into the lock of the bathroom. It clicks and I push the door open. The scream that leaves my mouth could shatter the world’s happiness into a thousand pieces. But the silence that follows it is enough to dissolve it completely. Micha â€Å"What are you so happy about tonight?† my mom questions when I walk into the house. â€Å"I’m as happy as I always am.† I join her at the kitchen table and steal a cookie from a plate. She takes off her glasses and rubs the sides of her nose. There’s a calculator, a checkbook, and a whole lot of bills stacked in front of her. â€Å"No, I haven’t seen you smile like this in a while.† â€Å"I just had a really good night.† I take out my wallet and hand my mom a couple of twenties and a hundred dollar bill. â€Å"Here, this is what I got for working a weekend at the shop.† My mom shakes her head and tosses the money in my direction. â€Å"Micha Scott, I’m not going to take my son’s money.† I throw it on top of the bills and push away from the table. â€Å"Yes, you are. I want to help out.† â€Å"Micha I – â€Å" â€Å"Stop arguing and take it young lady,† I warn with humor in my tone. She sighs, defeated, and collects the money. â€Å"You’re a good son. Do you know that?† â€Å"Only because I was taught to be.† I head for my room, but hear a scream from outside. I backtrack into the kitchen. â€Å"Did you just hear that?† My mom’s eyes are wide as she stares at the back door. â€Å"I think it came from the Daniel’s house.† A billion different scenarios rush through my head as I run outside, hop the fence, and burst into her house. â€Å"Ella!† It’s quiet, except for water running upstairs. I dash up the staircase, skipping steps. â€Å"Ella†¦Ã¢â‚¬  My body chills like ice. Ella is standing in the doorway and her mom is in the bathtub filled with red water that’s spilling out all over the floor. â€Å"Ella, what happened?† She flinches and then turns to me. Her pupils have taken over her eyes and the look on her face will haunt me for the rest of my life. â€Å"I think she killed herself,† she says numbly and holds out her hands, which are smudged with blood. â€Å"I checked her pulse and she doesn’t have one.† I take out my cell phone and call 911. When I hang up, Ella collapses into my arms and stays there, unmoving until the ambulance shows up. She doesn’t cry – she barely breathes and it nearly kills me because I can’t do anything to help her. How to cite The Secret of Ella and Micha Chapter 15, Essay examples

International Marketing Mix Theoretical Management

Question: Discuss about the International Marketing Mix Theoretical Management. Answer: Introduction Commonwealth Bank of Australia (CBA) is an Australian multinational bank which operates in New Zealand, Fiji, USA, UK and several countries in Asia. It has about 1,100 branches operational in these locations and has total revenue of AUD $ 24.578 billion with AUD $ 12.854 billion. The major competitors of the company are Wespac Banking Corporation and National Australia Bank Limited (Dun Badstreet, 2017). These companies have a higher market share in comparison to Common Wealth Bank, Australia and high customer loyalty. It is the largest life insurer and largest investment manager in the retail activities. It has also made investment in different financial annuities and provides funding to different organizations. It has one of the largest market shares in New Zealand in the life insurance market. It also operates in number of countries in Asia and Pacific (Commonbankwalth Bank of Australia, 2017). Presently, the company is able to achieve a high market share due to its digital services and constant customer support. The online services of the company are successful due to the excellent 24 hours services provided to the users (Commonbankwalth Bank of Australia, 2017). In its new 12-month term marketing plan, the Company should develop strategies to increase the market share in the Australian market as well as expand its operations in the foreign markets. Currently, the company needs to focus on increasing the customer loyalty in the Australian Market by providing exceptional services. Despite being the largest bank in Australia and backed by the Australian government, it has less market share than its major competitors like Wespac and National Australia Bank Limited. Therefore, the proposed marketing plan for the company is focused on increasing the make share in Australia. If the bank increases its brand value in Australia and New Zealand then it will also increase its market worth in other operational countries. It is important due to heightened competition between emerging banks and the current competition in the Australian and the Asian markets. Marketing Objectives In the present context, the company should develop SMART objectives to achieve its marketing objectives. With the current marketing plan, the company should primarily aim to expand its market share in the Australian market and in the New Zealand market. Along with it, the company should also focus on expanding its operations in the emerging foreign markets where the market share is low. In this regard, for the new 12 months marketing plan, SMART goals have been developed: The Commonwealth Bank of Australia will increase its market share in Australia by 20% in one year with the current marketing strategy It will also try to increase the customer loyalty and consumer reliability with the current plan. The company will target to provide exceptional services and excellent product offering to the customers to retain its existing customers and preventing them in switching to other brands. The company aims to increase customer loyalty by 50% in one year. The Commonwealth Bank of Australia should also try to penetrate new and emerging markets with the new marketing plan. The organization is prominent in insurance market in New Zealand. It should utilize the current marketing strategy to expand the retail banking operations in New Zealand. It is aimed that the company will be able to expand its share by 10% in the New Zealand market (Hurd, Barcelona Meldrum, 2008). Segmentation, Target Market and Positioning Australia is geographically segregated market. The market of Australia can be segregated in terms of geography and demographics (Stroud, 2007). It is important for the organizations to segregate the market accordingly and target a specific market as per the market potential. Segmentation: The Australian market can be divided into different consumer segments according to the geography, demographics, psychograph and behavior (Moore and Pareek, 2009). The Commonwealth Bank of Australia (CBA) has different consumer groups. It provides banking facilities to middle-class customers. Along with it, the bank also provides loan facilities for housing and vehicles. The company also provides loan facilities to the farmers at a cheap cost. It also provides loan facilities to number of business ventures. Targeting: In the present context, the target market of the young entrepreneurs is selected. A large number of people are venturing in the start-up business but they lack the finances to position their business. The company can bank on the current start up culture in Australia and launch a product for the startup businesses in the country. Currently, the startup businesses in Australia are worth 29 billion dollars for the banking organizations (Hutchinson and Han, 2014). Positioning: The Company can position the product by incorporating additional features in the products. It can provide advisory and forex services to the startups. It can also provide payment solutions and wealth management services as these entities are novice in conducting business transactions. The account holders will also get assistance in tax regulation and the compliance issues (Clow Baack, 2011). The company will position its product in the target market by being perceived by the consumer as being different, unique and superior. The bank will provide several additional facilities along with the loan facilities which will attract the new customers. It includes providing advisory services, wealth management and opportunity to be backed by one of the largest bank of Australia. The positioning statement of the ban can be developed as: The Commonwealth Bank of Australia is dedicated to provide accessible financial support through services and expert solutions so that I can contribute to the business processes and peoples lives. Appropriate Marketing Mix The marketing mix refers to controllable and tactical marketing tools which are used to yield desired response from the target market. The marketing mix refers to four main variables which are manipulated to develop the marketing strategy of a company. Product: In the product offering, The Commonwealth Bank of Australia will develop a loan product for the entrepreneurial ventures. The customers want to buy the product which adds value or which provide solutions to their problems. Currently, there is startup trend in Australia and several entrepreneurs are venturing into the businesses. These businesses want monetary funds to support their vision and business. The bank will provide support to these ideas by providing financial funding. It will also provide advisory services, forex service and wealth management services to the customers. These services will provide competitive advantage for the bank. Along with it, the company will also provide never-ending, online customer care support to all the clients so that they can access the services with ease (Belohlavek, 2008). Price: Since the number of competitors in the loan industry is high, it is important that the company selects the most appropriate marketing strategy to penetrate the market. The company should follow the penetration pricing strategy wherein the initial cost of buying the product is high. This pricing strategy is adopted to attract a large number of customers and gain a high market share. The product prices are raised later once the company obtains market share. This strategy is commonly used by the companies to obtain the market share or increase the existing market share of the company. This strategy is commonly adopted by the business organizations when it is difficult to them to obtain market share due to large rate of competition. Therefore, this strategy is appropriate for The Commonwealth Bank of Australia to increase their market share in Australia (Richter, 2012). Place Strategy: Currently, the company has operations in different countries all across the globe. However, it is difficult for the company to introduce the new loan product at different locations due to regulatory compliance and laws at different locations. Therefore, it is important for the organization to select some specific destinations to launch the product initially. The bank has considerable awareness in Australia and New Zealand. Therefore, it can launch the product in these countries (Foxall, 2014). Promotion: In the marketing mix, the promotion refers to all the activities which involve communication with the customers. The marketing and promotional strategy of the company is the most fundamental part in the product sales. In this strategy, a company determines how it is going to communicate with the consumers regarding the benefits and the features of the product. The promotional strategy of a company is crucial as it assists the company to determine how it is going to convey the qualities and the price of the product. In this regard, the company can use different marketing strategies such as broadcast media, social media, word of mouth, engaging in charity events and launching contests for the customers. In the current situation, the company should use the promotional strategy of broadcast promotion and social media promotion. In the Australian cities, the residential segregation is high; therefore, it is important that the company follows a broadcast media strategy wherein i ts outreach for the customers is maximized. The company can use newspapers and television as their promotional strategy. It can broadcast the message that it is offering low cost loans to the customers who are trying to venture into entrepreneurial business. The bank can also attract new customers by offering several advisory and the wealth management services. Along with it, the Bank should also use the social media marketing to reach the target customer base. The company is targeting the customer base of young entrepreneurs who are highly active on the social media. Therefore, it is important for the organization to incorporate social media in its marketing strategy. It can reach the potential customers and create brand and the product awareness through social media marketing. In addition to it, the bank should also use the email marketing techniques. Currently, the company can use the social media analytics and the market intelligence to identify the potential customers. The bank can send one-to-one email to these customers to increase customer base (Reid Bojanic, 2009). Conclusion The Commonwealth Bank of Australia is the largest bank in Australia backed by the Australian government. However, in the recent years, several competitors such as Wespac and National Australia Bank Limited have emerged which have snatched its market share and reduced its market position. Therefore, the current 12 months long marketing plan for the company is focused on increasing the market share of the company in the market of Australia and New Zealand. The objective of the marketing plan is to increase its current market share in Australia and New Zealand. The target customer base of young entrepreneurs is selected for the organization. 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