abhishreshthaa
Abhijeet S
Enron Corporation (former NYSE ticker symbol ENE) was an American energy company based in the Enron Complex in Downtown Houston, Texas. Before its bankruptcy in late 2001, Enron employed approximately 22,000[1] staff and was one of the world's leading electricity, natural gas, communications and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000.[2] Fortune named Enron "America's Most Innovative Company" for six consecutive years. At the end of 2001, it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud, known as the "Enron scandal". Enron has since become a popular symbol of willful corporate fraud and corruption. The scandal also brought into question the accounting practices and activities of many corporations throughout the United States and was a factor in the creation of the Sarbanes–Oxley Act of 2002. The scandal also affected the wider business world by causing the dissolution of the Arthur Andersen accounting firm.[3]
Enron filed for bankruptcy protection in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It emerged from bankruptcy in November 2004, pursuant to a court-approved plan of reorganization, after one of the biggest and most complex bankruptcy cases in U.S. history. A new board of directors changed the name of Enron to Enron Creditors Recovery Corp., and focused on reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.[4] On September 7, 2006, Enron sold Prisma Energy International Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI).
The 4Ps are:
* Product (or Service)
* Place
* Price
* Promotion
A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements:
Product/Service
* What does the customer want from the product/service? What needs does it satisfy?
* What features does it have to meet these needs?
o Are there any features you've missed out?
o Are you including costly features that the customer won't actually use?
* How and where will the customer use it?
* What does it look like? How will customers experience it?
* What size(s), color(s), and so on, should it be?
* What is it to be called?
* How is it branded?
* How is it differentiated versus your competitors?
* What is the most it can cost to provide, and still be sold sufficiently profitably? (See also Price, below).
Place
* Where do buyers look for your product or service?
* If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue?
* How can you access the right distribution channels?
* Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies?
* What do you competitors do, and how can you learn from that and/or differentiate?
Price
* What is the value of the product or service to the buyer?
* Are there established price points for products or services in this area?
* Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin?
* What discounts should be offered to trade customers, or to other specific segments of your market?
* How will your price compare with your competitors?
Promotion
* Where and when can you get across your marketing messages to your target market?
* Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards? By using direct marketing mailshot? Through PR? On the Internet?
* When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?
* How do your competitors do their promotions? And how does that influence your choice of promotional activity?
Enron filed for bankruptcy protection in the Southern District of New York in late 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel. It emerged from bankruptcy in November 2004, pursuant to a court-approved plan of reorganization, after one of the biggest and most complex bankruptcy cases in U.S. history. A new board of directors changed the name of Enron to Enron Creditors Recovery Corp., and focused on reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enron.[4] On September 7, 2006, Enron sold Prisma Energy International Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI).
The 4Ps are:
* Product (or Service)
* Place
* Price
* Promotion
A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements:
Product/Service
* What does the customer want from the product/service? What needs does it satisfy?
* What features does it have to meet these needs?
o Are there any features you've missed out?
o Are you including costly features that the customer won't actually use?
* How and where will the customer use it?
* What does it look like? How will customers experience it?
* What size(s), color(s), and so on, should it be?
* What is it to be called?
* How is it branded?
* How is it differentiated versus your competitors?
* What is the most it can cost to provide, and still be sold sufficiently profitably? (See also Price, below).
Place
* Where do buyers look for your product or service?
* If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue?
* How can you access the right distribution channels?
* Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies?
* What do you competitors do, and how can you learn from that and/or differentiate?
Price
* What is the value of the product or service to the buyer?
* Are there established price points for products or services in this area?
* Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin?
* What discounts should be offered to trade customers, or to other specific segments of your market?
* How will your price compare with your competitors?
Promotion
* Where and when can you get across your marketing messages to your target market?
* Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards? By using direct marketing mailshot? Through PR? On the Internet?
* When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?
* How do your competitors do their promotions? And how does that influence your choice of promotional activity?