Explain the concept of ‘models’ and discuss the various types of models. Use appropriate examples. A model is a pattern‚ plan‚ representation‚ or description designed to show the structure or workings of an object‚ system‚ or concept. A model can come in many shapes‚ sizes‚ and styles. It is important to emphasize that a model is not the real world but merely a human construct to help us better understand real world systems. In general all models have an information input‚ an information processor
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through creating and exchanging products and values with others.(Kotler.P 2002 : 5) The goals of marketing is to attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. There are five core concepts of marketing‚ which includes needs‚ wants and demand; products‚ services and experience; value‚ satisfaction and quality; exchanges‚ transactions and relationships; and finally‚ market and marketing. After World War II‚ the variety of products increased
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A. Cognitive (Piaget) Cognitive theories of development look at how thought processes and mental operations influence growth and change. Cognitive theory is looking at the development of a person ’s thought processes. It also looks at how these thought processes influence how we understand and interact with the world. One theorist and cognitive thinker was Jean Piaget‚ who gave an idea about how we think about child development. This is that children think differently than adults. Jean Piaget created
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Understanding Business Research Terms and Concepts: Part 1 In the following examples‚ determine whether the term independent variable or dependent variable is appropriate. Michael is interested in learning the effects of using celebrity endorsement on sales. What type of variable is a celebrity endorsement? Independent Variable In an experiment‚ this variable is expected to be affected by the manipulation. Dependent Variable Criterion variable is synonymous with this term. Dependent Variable
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Discuss the core concepts of marketing for the travel and tourism sector Marketing in the travel and tourism sector is an important factor in making a travel business successful in terms of market share. Within marketing there a numerous known concepts that piece together the defined definition of marketing‚ these include the customer’s needs‚ wants and demands‚ products and services and value. Core concepts In the process of marketing your business it is important to factor in your customers wants
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With the help of examples‚ explain the concept of ’a shrinking world’. [9] A shrinking world is a phenomenon whereby the world appears to be getting smaller and space shrinks as a consequence of the revolution in transport and communication technologies reducing the frictional effect of distance on movement. Shorter time is taken for people‚ goods and services to cover the same distance. Revolutions in transport technology has seen an increasing rate of travel speed over space and time. During
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Price elasticity of demand is defined as how demand changes as a result of a change in price. It can be said that if a reduction in price leads to an increase in demand then demand is relatively elastic. Elasticity is usually negative. There is an alternative scenario where demand will increase as price does so too. This happens only in the case of Giffen goods‚ where elasticity is positive. The formula for price elasticity of demand is: Percentage Change in Quantity Demanded Percentage Change
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Discuss the concept of cultural capital Pierre Bourdieu developed the concept of cultural capital in order to attempt to explain the differences in educational outcomes in France during the 1960’s. Cultural capital is theorised as the forms of knowledge‚ skill‚ education; any advantages a person has which‚ give them a higher status in society‚ including high expectations (Nick Stevenson‚ 1995.pp.46-48). This differentiates economic and social status from the class agenda which‚ is rigidly
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and (often) ridiculous antics. The example in our text was: I’m going! A comedy in one act‚ there was never a doubt that Henri was going to the races from the very start‚ no matter what Jeanne (Henri’s wife) had to say. The comedy behind this was Henri and Jeanne arguing back and forth about Henri going to the races without Jeanne‚ then a sudden twist when Jeanne finally decided that she would go visit her friend (Juliette) and Henri could go to the race. Well‚ then Henri didn’t want Jeanne to do
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external environment such as body temperature and the amount of water in our bodies. By keeping this internal balance it allows our bodies to function efficiently. The negative feedback loop is produced when changes to our internal environment changes from its normal range. In this instance the brain and the nervous system help to get our internal environments back to its normal state. An example of this is when an individuals body is too hot and our body begins to sweat in order for us to cool down
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