Fast Food Market Forecast - The Subway Example of Strategic Product Positioning

The United States fast food market has seen a healthy rise in growth within the last three years which forecasts can be sustained. The fast food market is forecast to maintain its current growth expectations, with an anticipated Compound Annual Growth Rate (CAGR) of 2.3% for the five-year period 2005-2010. This is expected to drive the market to a value of .6 billion by the end of 2010. Drivers of growth include increasing numbers of Americans in the workplace, which reduces the amount of time spent on preparing meals at home. In 2010, the United States fast food market is forecast to have a value of .6 billion, an increase of 12.1% since 2005.

Forecast Volume

Negotiation

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In 2010, the United States fast food market is forecast to have a volume of 37 billion transactions (Figure 1). This represents an increase of 5.3% since 2005. The CAGR of the market volume in the period 2005-2010 is predicted to be 1%.

Fast Food Market Forecast - The Subway Example of Strategic Product Positioning

Success Factors

Success factors for fast food franchisees will include products and marketing targeted to healthier menu selections, brand consistency, low start-up costs, franchisee support, and consumer convenience. Subway ® represents a poignant example of a fast food franchisee ready for success in the future fast food market. Their strategies transcend the fast food market and apply to many other markets and products.
SWOT Analysis

Subway sandwich shops are well positioned to leverage their strengths and address reasonable threats, weaknesses, and opportunities. The table below highlights these Strengths, Weaknesses, Opportunities, and Threats.

Strengths

Size and number stores and channels Menu reflects demand for fresh, healthy and fast. Use of non-traditional channels. Partnering with the American Heart Association. Worldwide brand recognition. Customizable menu offerings. Low franchisee start up costs. Franchisee training is structured, brief and designed to assure rapid start-up and success.
Weaknesses

Décor is outdated. Some franchisees are unhappy. Service delivery is inconsistent from store to store. Employee turnover is high. No control over franchise saturation in given market areas.
Opportunities

Continue to Grow Global Business. Update décor to encourage more dine-in business. Improve Customer Service Model. Continue to expand channel opportunities to include event wagons. Improve franchisee relations. Experiment with drive-through business. Expand packaged dessert offerings. Continue to revise and refresh menu offerings. Develop more partnerships with movie producers and toy manufacturers to promote new movie releases through children's menu packaging and co-branding opportunities.
Threats

Franchisee unrest or litigation. Food contamination (spinach). Competition. Interest Costs. Economic downturn. Sabotage. Law Suits.
Competitive Analysis

Subway is not without competitive pressures. Chief competitors include Yum! Brands, McDonalds, Wendy's, and Jack in the Box. Yum! Brands are the world's largest, with 33,000 restaurants in over 100 countries. Four of the company's highly recognizable brands, KFC, Pizza Hut, Long John Silver's and Taco Bell, are global leaders of the Mexican, chicken, pizza, quick-service seafood categories. Yum! has a workforce of 272,000 employees and is headquartered in Louisville, Kentucky.

McDonald's Corporation (McDonald's) is the world's largest foodservice retailing chain with 31,000 fast-food restaurants in 119 countries. The company also operates restaurants under the brand names 'The Boston Market' and 'Chipotle Mexican Grill'. McDonalds operates largely in the US and the UK and is headquartered in Oak Brook, Illinois employing 447,000 people.

Wendy's International (Wendy's) operates three chains of fast food restaurants: Wendy's (the third largest burger chain in the world), Tim Horton's, and Baja Fresh. Wendy's operates over 9700 restaurants in 20 countries, has been included in Fortune magazine's list of top 500 US companies, is headquartered in Dublin, Ohio, and employs about 57,000 people.

Jack in the Box owns, operates, and franchises Jack in the Box quick-service hamburger restaurants and Qdoba Mexican Grill fast-casual restaurants and is headquartered in San Diego, California.

Target Markets

The increase in sales of the sandwiches has been a result of decreases in consumer interest in hamburgers and fries and increases in demand for healthier options. Sales of sandwiches are growing 15 percent annually, outpacing the 3 percent sales growth rate for burgers and steaks.

Current Marketing Program

A new breed of restaurant is making big gains against the market-saturated hamburger establishments. Termed "fast-casual," these restaurants are dominated by Mexican chains, and sandwich restaurants offering fresh-baked breads and specialty sandwiches.

Responding to evolving consumer expectations for health, fresh, custom-made sandwiches; Subway's marketing program addresses these expectations through a number of approaches. The most notable were the television commercials featuring Jared. These commercials emphasize the healthy aspects of a Subway sandwich by highlighting the 245 pounds Jared lost by eating a Subway sandwich diet. Subway also markets through a national sponsorship in events such as American Heart Association Heart Walks and local events such as triathlons, and children's sports teams.

The Subway example represents marketing and product strategies that are classic examples of focusing on market demand, consumer trends, product leveraging, and innovation. The marketing strategies of creating clear brand recognition, brand and product association, and market demands, have strategically positioned Subway to advance market share into the near future. These marketing strategies are also repeatable fundamental marketing strategies transcending the fast food market. Does your marketing strategy bind brand recognition to products that support your market's future direction?

Fast Food Market Forecast - The Subway Example of Strategic Product Positioning

Reference

Datamonitor Industry Market Research, (July, 2006), United States Fast Food

For more on Mr. McCarty, please refer to http://www.leadershippinnacle.com

Michael McCarty C.C.C.E, MBA

Mr. McCarty has a proven record of accomplishment in strategic leadership roles for fortune 500 companies. He is an award winning performer in the areas of large-scale operations leadership, strategic planning, senior project management, and significant contributions to the bottom line. Michael has successfully leveraged his leadership skills to provide keen insight, vision, direction, and executive support to financial services firms, information technology firms, and the automotive, credit, and insurance industries. He has been particularly effective in start-up and turnaround situations.

Insisting on integrity, self-reliance, resourcefulness, and ingenuity, Mr. McCarty is an action and solution oriented leader capable of making strong financial contributions to the bottom line. Operational leadership in the areas of process improvements, cost analysis, and innovative revenue generation characterize soundly this veteran executive's distinguished career. For more on Mr. McCarty, please refer to http://www.leadershippinnacle.com

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Ella (Chapter 16)

THE HUNTING ACCIDENT AND THE MYSTERIOUS STRAY BULLET

"I'm pregnant," said Lisa.

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''And why do you tell me this?" Michael asked her, being seemingly indifferent and preoccupied with his problems.

Ella (Chapter 16)

"Because it's your child," continued Lisa. She was surprised at his reactions because she knew everything about his troubled marriage.

"Are you sure?" Michael asked her ironically.

"I planned my pregnancy. When I made love with you, I was in my fertile period and every time I was with Jeff I took the birth control pills, "continued Lisa, trying to convince him to believe in what is happening.

"You must prove my paternity first," said Michael. He wanted to end the discussion.

"Sure. I can get a DNA test during the pregnancy."

"Okay. When I have the certitude that I'm the baby's father, I'll tell Nora that I want to divorce, "said Michael.He only wanted to be conciliatory.

"Let's live together. You and me,"said Lisa. She felt instinctively that she must grab her chance.

"I think it's a good idea. Thinking of you and me can be awesome."

"Are you serious?" Lisa ask him, visible happy." It is an unusual circumstance," she said. She tried to explain her position, but Michael didn't let her to continue and said,"No, my darling, quite unusual was our sleeping situation."

"Will you run this risk of ending up with a crazy person like me?"

"Maybe we will not ruin our friendship," said Michael.

"Will you search an apartment for us?" Lisa couldn't believe that it is a real moment and not a dream.

"More likely, I have already a house in my mind.What about Jeff? He is going to be hurt very badly when you ask for a separation. What reason will you give him for your desire to get a divorce?"Michael became curious.

"I have already told him the truth," continued Lisa, speaking very quickly.

"Interesting, I met him a few hours ago and he didn't tell me anything. I'm afraid to see him again because I don't want to put myself in danger. You shouldn't tell him without discussing this situation with me first," said Michael. He felt a little bit nervous.

"For the past five years we've had an open marriage. I told him that I had had an affair, because I could not imagine hiding who I was from him. After that, he was curious to be with someone else and it worked.We had a wonderful time in bed. We had a good marriage. I told him that I got pregnant accidentally because I forgot to take my pill. He understood my situation," said Lisa.

"Are you serious? I know your husband better than you do, and you're the one who have been married to him for many years. It's very pathetic. Maybe he leaves you now because he has to do this, but he will never forgive you for what you are doing to him," said Michael, being very sure of what he said.

She chewed thoughtfully on a stray cuticle.

"Dividing the possessions may be difficult because we've been married for one decade. I need a lawyer for the divorce negotiations and for knowing what I absolutely can keep. I don't want to lose anything that belongs to me," Lisa continued.

"The bulk of his wealth is hidden in bank. Much of his wealth has shrunk in recent years in the eyes of the public, but Jeff remains extremely wealthy. His bank accounts remain hidden from view. You will not get anything from him. Listen what I say, Jeff is an old fox. It is better to reach an understanding with him," said Michael.

"I'm a father!" Alexander exclaimed, keeping so tenderly the little life in his arms.He felt responsible for this little life and a little scared. He wasn't sure he could assume the responsibilities for being a good father for his child.

"How do you feel?" Ella asked him, being a little amused " You seem to be so helpless, Alexander!" She tried to encourage him. She knew that he may just not have enough confidence in himself.

"I feel very confused and excited at the same time. I don't know why I feel so," said Alexander, becoming suddenly very serious. He wanted to believe that his child can eventually overcome the difficulties and succeed in life. He was not sure of himself. He was particularly an introvert man, but becoming a father was a very important moment for him and he tried to express himself.

"Maybe because you don't know what means to be a father," said Ella. Ella knew that he was prepared for this moment, but the emotions overcame him. She fell upon her knees, looked up to heaven and uttered aloud a fervent thanksgiving, in which she spoke of her helpless husband and her little child, waiting His hand to save them from perishing. Alexander smiled because of her reactions and he tried to express his faith in front of The Lord. He understood that she thinks that his reactions are exaggerated.

"I felt a great sense of responsibility from the moment I saw Emanuel. You're completely wrong. I love you so much in this moment. You're completely mine. I need to make love with you.Ask me why I want to do this."

"Why do you want to do this?" asked Ella, looking at him with sparkling eyes and smiling.

"I want to make love with you because I miss my little girl. I want a little girl like you," said Alexander, caressing the little boy.

Ella kissed him.

"It's a little early for making love. You must wait a few weeks. But loving and caring for our baby is the most important thing we can do in our lives," said Ella.

Alexander began to kiss her and he lied in bed near her with the baby in his arms. He said,"He's my little prince. He will have the best chance in life."

"You must speak to him," said Ella.

"I speak to him all the time. You need time to rest, my darling, try to sleep.I will stay with him. In an hour he will get up and he will want to suck milk from your breast."

The men hunted together because this was a part of their bonding. The deer hunting was not a dangerous affair. Many of the tasks, in which they were engaged, required some kind of trainings. A safe hunting experience depended more on the gun handling abilities.Men usually hunted together for obtaining one thing,the meat,even if they were doing so many other things together such as making the coffee, preparing the meals, working with the firearms and blinds, carting around the deer, butchering and processing the meat and sitting around the fire for eating the deer stew. For others the hunting meant training for more hunting.

Generally, the number of legal deer that could be taken was maximized. Every legal hunter had a license for his weapon. The guns were maintained and adjusted for their accuracy.After the hunting, they took the meat for processing it and dividing it up. Usually, the bonding happened without anything going wrong because they were experienced hunters.

"Can we avoid the poaching?" David, who was against poaching, wanted to react somehow because he was afraid.

"I have only a little idea about how much poaching happen in this area," said Victor.

"Hey, Jeff, how many deer are here?" Daniel was very optimistic.

"No one can tell you this. Anyway, many more than we can hunt," said Jeff.

"We have a quota of the deer," said Michael, who was a very experienced hunter.

"How many deer can we hunt?" David asked Jeff. He was a beginner and he had no idea about hunting, in general.

"Ten deer," said Jeff.

"I hope that we have enough blinds and weapons for this,"said John, who was a follower, searching for the prey capture.

"Yes, we have and the weather is on our side," said Klaus. He remained calm and completely unmoved for a few seconds. His gaze was fixed on the sky.

"Be careful with that gun, David! Guns are dangerous and sometimes the accidents cannot be avoided," said Alexander.

"The most of the accidents take place because of inexperienced hunters. We have to learn to do this," said Jeff.

"When you see a hunter with his gun pointed right at you, try to say something," laughed Michael.

"The firearms can discharge themselves unexpectedly. I'm serious," said Victor.

"When the safety device is not engaged, they can discharge this way. The most of the shooting accidents are not caused by a dark demon hiding in the forest," said Brandon.

"Nothing will happen if you follow the standard procedure," said John.

It was in the morning and they were greeted with a beautiful sunrise. The sun's rays gave to the granite face of the mountain an orange sheen. The colors changed as the sun climbed into the sky until they reached their blue granite hue. Everything seemed to be so beautiful like a visual symphony of colors.

"Too many idiots with guns and no proper training," said Klaus.

"Wonder how many people waited the hunting season to kill their neighbor?" David laughed, trying to overcome his fear.

"Hey, this is too much," said John.

"I have never killed anything until now, not even a single bird," said David.

"Let me explain. You can place a lime stick so as to form a natural perch among the tree.The warbler can land on the branch and it can remain, fluttering, until you,the great hunter,will tear it off," said Jeff, smiling with indulgence.

"It's very interesting," said Daniel, "I didn't know this."

"The real hunters are trying to look like the surrounding vegetation," said Michael.

"The hunter really hopes that the deer will come to him," said John.

"A mature deer's nose can smell one thousand times better than a human nose," said Jeff.

"They lick their nose to moisten the scent," said Michael.

"You can play the wind to fool the old wary deer," said Klaus.

"Being downwind of the deer with a steady stiff breeze, you can get closer to it," said Jeff.

"Or you can sit in a stand when the wind is blowing the wrong way and you can have all the chances to ruin the shooting of the buck," said Michael, laughing.

"Did you use the scent neutralizing spray, David?" Victor asked him.

"No. What should I spray?" David was somewhat scared.

"The clothes, the fanny packs and the equipment," said Victor.

"When you are in the wood, you must smell like the wood," said Michael, laughing again.

"The secret is to search for the places, where the other hunters don't go to hunt. Those places are the places, where the deer usually go. Try to call it, Michael," said Jeff.

"I can't now, maybe you can try instead of me," said Michael.

"You know that my voice is not good. I call them too loud," said Jeff.

"Okay," said Michael.

The hunters crouched behind the trees to inspect the area through their weapon sights and they waited the deer to appear. They set up their firing positions..

"Look," said Daniel.

"Wait for the deer to step out from behind that bush first. When it steps out, we can shoot," said Jeff.

"Now," said Klaus.

"Help!!!!"

'What happened?"David looked around, visibly surprised.

"The deer is dead,"said Klaus.

They turned around searching for Alexander. A bullet from a strange unknown rifle fizzed past his right ear. Alexander was sitting at the bottom of a muddy mound. It bounced off a tree trunk and spiraled into the air before coming to rest two yards to his left. He sprinted behind a tree, his body bent and launched himself into some kind of ditch on the other side of the tree.

"I moved my head to get a better view and a split second later I felt a bullet fizz past my ear. I felt the heat brushing my ear," said Alexander.

"That shoot came at the same time with our shoots. Someone else was shooting at us,'' said Brandon.

"Maybe someone tried to murder you, Alexander," said Victor.

Everyone around understood that Alexander felt a violent emotion. They gazed at him with respect.

"Call the police!" Jeff told Michael, visibly nervous.

Into the silence of the atmosphere, the wail of the siren came with the shock of a thunderclap. The policemen leaped to their feet and rushed out. They reached the forest within three minutes.

The hunters have been interviewed by the police. The police also inspected their weapons.

The cops said that it looked like an accident in the beginning, but they discovered that the bullet didn't belong to any gun used by the hunters.

"The shot was fired from the east, about forty yards away," said the policeman.

"Maybe it was a hunter belonging to another group, shooting in a wrong direction," said Victor, visibly shocked.

"The shooter used a high-powered rifle, which was illegal for the deer hunting," said the policeman.

"Then, maybe it was a poaching man," said John

"The shooting is very suspicious, but I can't say whether it was a hunting accident or something sinister," said the policeman.

"Someone fired the weapon, anyway, against him. I'm really very scared. It could happen to anyone of us," said John, being visible very scared.

"Generally, the fear of crime is far greater than the crime itself,"said Victor.

"A hunter can shoot accidentally another hunter, when he is trying to hit a passing deer. Sometimes, some several more shots were fired than deer killed, and in some cases, the hunters were out in the woods with their firearms and never got a shot at all. There were some incidents, in which the bullet graze was simply not reported.All these can happen accidentally. But the caliber used for this shooting didn't belong to the guns, generally used for hunting,"said the policeman and he continued,"How do you feel, Alexander?"

"I'm okay now,"said Alexander.

"Did you see any person around?" The policeman asked him.

"No," said Alexander.

"Do you have an enemy?"

"I don't know," continued Alexander.

"We couldn't make any headway in finding the guilty person. This is very strange," said the policeman. Yet, he continued, "Maybe you know the reason why he tried to shoot you."

"No," said again Alexander.

"So, the motive behind your bizarre accident is unknown," said the policeman.

"Maybe the bullet was for someone else," said Alexander

"Probably, it was someone who needed only targets around him and never a sport hunting," said John.

"Indeed," said the policeman. "Maybe he hid behind another smokescreen, but we will find the truth.This is a promise," continued the policeman.

Ella (Chapter 16)

Marieta Maglas

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What Causes Anger?

Anger is a strong emotion of displeasure caused by some type of grievance that is either real or perceived to be real by a person. The cognitive behavior theory attributes anger to several factors such as past experiences, behavior learned from others, genetic predispositions, and a lack of problem-solving ability. To put it more simply, anger is caused by a combination of two factors: an irrational perception of reality ("It has to be done my way") and a low frustration point ("It's my way or no way"). Anger is an internal reaction that is perceived to have a external cause. Angry people almost always blame their reactions on some person or some event, but rarely do they realize that the reason they are angry is because of their irrational perception of the world. Angry people have a certain perception and expectation of the world that they live in and when that reality does not meet their expectation of it, then they become angry.

It is important to understand that not all anger is unhealthy. Anger is one of our most primitive defense mechanisms that protects and motivates us from being dominated or manipulated by others. It gives us the added strength, courage, and motivation needed to combat injustice done against us or to others that we love. However, if anger is left uncontrolled and free to take over the mind and body at any time, then anger becomes destructive.

Negotiation

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Why We Need to Control Anger

What Causes Anger?

Just like a person who is under the control of a street drug---a person under the influence of anger cannot rationalize, comprehend, or make good decisions because anger distorts logical reasoning into blind emotion. You become unable to think clearly and your emotions take control of your actions. Physiologically speaking, anger enacts the fight or flight response in our brain, which increases our blood pressure and releases adrenaline into our bloodstream, thereby increasing our strength and pain threshold. Anger makes us think of only two things: (1) Defend, or (2) Attack. Neither of these options facilitates a good negotiation.

Internal Sources of Anger

Our internal sources of anger come from our irrational perceptions of reality. Psychologists have identified four types of thinking that contribute to anger.

1. Emotional reasoning. People who reason emotionally misinterpret normal events and things that other people say as being directly threatening to their needs and goals. People who use emotional reasoning tend to become irritated at something innocent that other people tell them because they perceive it as an attack on themselves. Emotional reasoning can lead to dysfunctional anger in the long run.

2. Low frustration tolerance. All of us at some point have experienced a time where our tolerance for frustration was low. Often stress-related anxiety lowers our tolerance for frustration and we begin to perceive normal things as threats to our well-being or threats to our ego.

3. Unreasonable expectations. When people make demands, they see things as how they should be and not as they really are. This lowers their frustration tolerance because people who have unreasonable expectations expect others to act a certain way, or for uncontrollable events to behave in a predictable manner. When these things do not go their way, then anger, frustration, and eventually depression set in.

4. People-rating. People-rating is an anger-causing type of thinking where the person applies a derogatory label on someone else. By rating someone as a "bitch" or a "bastard," it dehumanizes them and makes it easier for them to become angry at the person.

External Sources Of Anger

There are a hundreds of internal and external events that can make us angry, but given the parameters of a negotiating situation, we can narrow these factors down to four general events.

1. The person makes personal attacks against us. The other side attacks you along with the problem in the form of verbal abuse.

2. The person attacks our ideas. The other side chops down our ideas, opinions, and options.

3. The person threatens our needs. The person threatens to take away a basic need of ours if they do not get their way i.e. "I'll make sure you'll never work in this city again."

4. We get frustrated. Our tolerance level for getting things done might be low or affected by any number of environmental factors in our lives.

Factors That Lower Our Frustration Tolerance

1. Stress / Anxiety. When our stress-level increases, our tolerance for frustration decreases. This is why there are so many domestic disputes and divorces over financial problems.

2. Pain. Physical and emotional pain lowers our frustration tolerance. This is because we are so focused on taking care of our survival needs, that we do not have time for anything or anyone else.

3. Drugs / Alcohol. Drugs and alcohol affect how our brain processes information and can make a person more irritable or bring forward repressed emotions or memories that can trigger anger.

4. Recent irritations. Recent irritations can also be called "having a bad day." It's the little irritations that add up during the course of the day that lower our tolerance for frustration. Recent irritations can be: stepping in a puddle, spilling coffee on your shirt, being late for work, being stuck in a traffic jam, having a flat tire.

Recognizing the Physiological Signs of Anger

By recognizing the physiological signs of anger, we can attune ourselves to know when it is time to take measures to make sure that our level of anger does not get out of control. Here are some symptoms of anger:

1. Unconscious tensing of muscles, especially in the face and neck.

2. Teeth grinding

3. Breathing rate increases dramatically

4. Face turns red and veins start to become visible due to an increase in blood pressure

5. Face turns pale

6. Sweating

7. Feeling hot or cold

8. Shaking in the hands

9. Goosebumps

10. Heart rate increases

11. Adrenaline is released into your system creating a surge of power.

Am I Right to be Angry?

Damn right you are. You have your own perception and expectation of the world that you live in and when the reality that you live in fails to meet your expectations, then yes you have the right to be angry. Afterall, if everyone thought alike, then the world would be a pretty dull place to live. You are going to run into situations that you don't enjoy. You are going to run into people who don't respect your views and ideas. The feeling of anger is totally justified according to your beliefs and so don't repress or deny those feelings.

Having to right to feel angry does not mean that you have the right to lash out in anger by attacking the other person. You can't change the views of other people to conform to your own because, like you, they have their own right to uphold their view of the world. The best thing you can do is recognize your anger and focus it on the problem instead of your counterpart.

Key Points

Being angry or frustrated is just like being under the influence of a drug. It prevents you from rationalizing and thinking logically.

Anger is caused by a combination of an irrational perception of reality and a low frustration point.

Anger is a natural response and you have every right to be angry, but you must learn to keep that anger in check during a negotiation because once you react in any negotiation, then you lose the agreement.

What Causes Anger?

Tristan J. Loo is an experienced negotiator and an expert in conflict resolution. He uses his law enforcement experience to train others in the prinicples of defusing conflict and reaching agreements. Visit the Street Negotiation website at http://www.streetnegotiation.com or contact tristan at: tristan@streetnegotiation.com

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Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

Have you ever faced a situation where you have opted for debt negotiation? Many people do not know what debt negotiation can do for the defaulters.

We all know that the economy is facing a tough time because of the recession. During this period, majority of the people face problems with increased or unsecured liabilities. The price of the commodities has also gone up and there is a drastic change in the money spending habits of the people. The recession period is like a barrier to the flow of capital in and out of the economy. The people are drowned in huge liabilities and it seems quite impossible to pay off or clear the liabilities.

Negotiation

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Debt negotiation is nothing but a way of bargaining with the financial companies to reduce the burden of unpaid balances. The market situation has been greatly affected by the downfall of the economy and the banks or the financial organisations are well aware of the shortage of money that they are facing. The banks and the financial firms are also facing problems because the circulation of finance has been stopped. This is because the people are concentrating on saving money or wants to eliminate their liabilities through debt negotiation. There are many firms who accept the request of the people when they approach for the settlement of liabilities.

Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

Many people ask, what is the benefit of debt negotiation? The answer to this question is that, it is a solution to overcome the financial breakdown and get help from the relief firms. When a person gets a good firm and asks for financial help, there are certain processes to be fulfilled. The applicant has to provide few details and proof to show that he is financially unstable and he will not be able to pay back the total amount to the creditor. The financial firms will bargain with the card issuing company on behalf of the applicant to reduce the liabilities.

Firstly, the applicant should complete the process of documentation and paperwork before approaching the company. Secondly, the applicant should ask for the consolidation of liabilities. This is helpful because all the liabilities will be merged and then the relief firm will calculate how much has to be deducted. The market conditions have become poor because of the shortage or no circulation of finance. Therefore, the liabilities can be bargained while claiming for settlement.

Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

If you have over k in unsecured debt it would be wise to consider debt settlement. Creditors of unsecured debt are very concerned about collecting on their delinquent accounts and you can take advantage of this. Consumers and small business have never had a better opportunity to eliminate debt through a settlement process. To locate legitimate debt settlement companies in your state check out the following link: Free Debt Help [http://www.freedebtreductionhelp.com]

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The Key To Unlocking A Successful Negotiation - Best Practice Preparation

PREPARATION: FUNDAMENTAL TO NEGOTIATIONS?

Most negotiators greatly underestimate the amount of time required to effectively prepare for and research the background to any business negotiation. The old cliché says 'failing to prepare means preparing to fail'. We should spend at least twice as much time preparing for business negotiations as we expect to be engaging in actual negotiations. E.g. if we estimate that we are going to spend 1 hour negotiating with our counterparty, we should then consider spending approximately 2 hours preparing for the engagement. The better our preparation, the greater the chances of achieving superior outcomes in our business negotiations.

Negotiation

Negotiation preparation is the most important part of business negotiation best practice and is specifically critical for complex, multi issue, multi party negotiations. Let's then analyse what is important to be considered in support of our efforts and decision making processes in business negotiations.

The Key To Unlocking A Successful Negotiation - Best Practice Preparation

1. Understanding the context.

The context of negotiation can be understood by an analysis of the environment in which businesses operate. Some of the key elements to consider in understanding the context of a business negotiation include:

What is the nature of the sale/purchase you are making in terms of risks involved, the level of expenditure and the complexity of the deal? Competitive analysis - what is the nature of the market and what alternatives do our counterparties have available. E.g. in a purchasing role it is critical to understand the supply market in order to prepare our negotiation strategy effectively. We will approach negotiations with a sole supplier differently than with a potential vendor in a fully competitive market. Identifying market characteristics for specific services and goods will allow us to understand how the market works, its competitiveness and key suppliers. Is it a one-off deal or should we consider maintaining a long-term positive relationship that creates opportunities for future business. For example, in a situation where we sell a car or a house we are normally only interested in the best price and not really interested in an ongoing relationship. A ompetitive approach with no consideration for the relationship will most likely assist us to achieve our goals and objectives if no ongoing relationship is concerned. On the contrary, most business negotiations are more complex and although price is usually an important factor, there are many other criteria that have to be satisfied on both sides as a foundation for mutually rewarding deals and relationships. Have we had any dealings with the other side in the past and what is their most likely approach to doing business? What does the power balance look like? (Legitimate power, Reward power, Coercive power, Expert power, Referent power) How skilled are the negotiators on both sides of the table? What cultures will be represented at this negotiation? (Ethnic, Corporate & Professional Cultures should be considered). Do you need to do any homework regarding the local customs? Who are all the parties & individuals involved in the negotiation and the decision making process? When selling it is critical to identify not only final decision makers, but also final users of our product or service in order to develop internal groups of support within our counterparty's organisation. A diversified approach is required as different buying roles look for different benefits and advantages when purchasing a product or service. Final decision makers (read people who release the money e.g. CEO, FD etc.) will most likely be interested in Return on Investment and increased revenues & margins as the ultimate result of purchasing your product, service or solution. The final user who looks for improved productivity and efficiency will find the financial elements almost completely irrelevant.

2. Understanding the deal objectives.

In any negotiation it is critical to understand the tangibles that all parties are trying to gain or achieve. If we fail to prepare and prioritize our deal objectives we put ourselves at risk of being exploited and/or ending with a sub-optimal agreement. Whether you are engaged in negotiation on the sales or purchasing side consider the following elements when preparing for negotiation

- Price and payment
- Key Obligations
- Delivery
- Warranties
- Intellectual property
- Risks etc.

Price and Payments: the notion that price is the only issue in negotiation is not entirely logical. The competition and the complexity of most business deals requires finding ways to create additional value and to move negotiation from positional bargaining to synergistic and creative joint problem solving. Professional buyers are not charged with buying the cheapest solution available but rather with providing their organisations with the cheapest total cost of ownership. It means that besides our company, product and salespeople attributes we can differentiate ourselves from our competition buy using the TCO - Total Cost of Ownership approach that is composed of amongst others:

Acquisition costs: includes price, freight, legal fees, warehousing costs, initial training costs etc. Maintenance costs - repair labour, loss of productivity or revenue during maintenance - The cost of use - fuel or energy costs, safety costs, performance monitoring costs. Support costs - insurance, taxes, management fees etc. Supplier performance metrics - financial stability, cost improvement ideas - Delivery costs can be imposed either on the buyer or the supplier and may include: custom taxes, fuel, loading goods etc. Quality - testing, defect management, cost of and losses associated with potential external failure. Customer Support - how many people involved, for what period of time etc. Bear in mind that happy customers will tell others of their positive experience.

It costs much more to attract a new customer than to keep an existing one.

If we are able to minimize the other side's costs involved in the whole life cycle of our product, solution or service and at the same time offer value for money we are in a better position to find common ground with our counterparties and ultimately increase our market share. Additionally it is necessary to clearly define the payment terms and conditions. If you buy make sure you know what is included in the price, when you have to pay, and what happens if you don't pay on time.

Key Obligations: what work the supplier will do and what the buyer will do in return. Make sure your product and services are clearly defined and reflect your priorities. Include all the relevant quantities and specifications. As a supplier make sure you can live with all the specifications stated by the buyer.

Delivery: when and where are the goods or services to be supplied? Is there any extra charge for delivery? How important are the delivery timelines and what happens if the delivery doesn't take place on time.

Warranties: a promise that the products or services will meet a required standard. As a supplier don't expect signing a deal with no warranties at all and make sure you know the limits on what you are offering. In order to maintain trust and credibility make sure that you can live with any promises you are making.

Intellectual property: difficulties in negotiating IP ownership can lead to delays in implementing an agreement.

Carefully negotiate IP ownership rights and consider the following factors:

What party is paying for the R&D? Could the development be used by the competitors to your loss if you don't own the IP? - How can you prevent competitors to use the same IP?

Intellectual Property can become a key differentiator in a highly competitive market place.

Risks: the best way to manage risks in negotiation is to include the elements that carry any risk in a written contract. Cultural consideration is critical. In Asian countries like China the goal of negotiation is not a signed contract. In China - unexpected circumstances, whenever they arise, are resolved through the relationship and therefore all the risk involved needs to be managed through the relationship as well. Explore the risk aversion of the other side as the value in negotiation can be created by shifting risk to the party that is more able to bear it, in exchange for greater potential returns.

Analysing the above elements are crucial in planning Concession Strategies that will assist you to leverage maximum value from trades and in planning meetings optimally. Always map out all your negotiation goals as fully as you can and for each Goal, capture your own and your counterparty's view of the Goal with the best information you have.

The Key To Unlocking A Successful Negotiation - Best Practice Preparation

Michael Zieba is the Founder of The Strategic Negotiation Institute
http://www.strategicneg.com

Gain unparalleled negotiation skills at The Strategic Negotiation Institute.

Our core competency is to help organisations save money, increase profits and maximise the value of their negotiations. Specialists in sales, procurement and executive negotiations, we design and deliver customised business negotiation solutions that go far beyond conventional negotiation wisdom and unlock unconventional value.

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Letter of Credit - Negotiation

Negotiation means the standard procedures that bank performs which includes checking of the documents and giving value to the seller. The issuing bank may issue the LC available by negotiation with a nominated bank or it may allow the LC to be freely negotiated with any bank. In the first case, the beneficiary, that is the seller, has to present the documents only to that bank, which is the nominated bank. Nevertheless, the nominated bank is not bound to negotiate if it has not undertaken a separate payment obligation to the seller.

The nominated bank may simply refuse to negotiate the documents drawn under the LC. This is because, by having been nominated by the issuing bank, it does not constitute and undertaking to negotiate. If, however, the nominated bank has added its confirmation to the LC at the request of the issuing bank, thereby undertaking a separate payment obligation to the seller, then it has to honour its undertaking and pay for the documents drawn under the LC if they are in order.

Negotiation

LC which does not nominate any bank is normally available for negotiation with any bank in the country of the seller which is willing to negotiate the documents. There are 4 types of negotiation practiced by banks around the world. They are:

Letter of Credit - Negotiation

1. Negotiation without recourse
2. Negotiation with recourse
3. Negotiation against indemnity
4. Negotiation under reserve

A seller may present his documents drawn under LC directly to either:

a) The issuing Bank (bank that issues the LC) or
b) The confirming bank (bank that adds its confirmation at the request of the issuing bank) or
c) To his own bank.

If the seller chooses to present the documents directly either to the ISSUING BANK or to the CONFIRMING BANK, these banks make payment WITHOUT RECOURSE to him. Meaning, the payment that has been paid to the seller shall not in any way become claimable by these banks in the event the documents are found not in order after making such payment.

These banks cannot have recourse to the seller because by issuing or confirming the LC, they have taken upon themselves the risk that the party from whom reimbursement is to be obtained may become insolvent.

Letter of Credit - Negotiation

Wan Nawawi Hassan is a former lecturer/facilitator with a number of commercial banks in Malaysia. You can visit his blog at http://infodagang2u.blogspot.com

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What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

This article has been written to inform you of President Obama's credit card debt relief plan. There has been a lot of misconception about this plan and we hope to dissolve and clear up any questions that those in extreme debt have. In the beginnings of 2009, when our President was elected. Obama put forth what has been called "President Obama's credit card debt relief plan". Now, this plan is not a safe haven for all debtors, but it does give debtors the ability to erase 50-60% of their credit debt and even more. Sometimes this can be up to 70% the Obama credit card debt relief program.

Why is this possible? The answer is two fold: First, billions of dollars of funding has been put into the American Economy to help with our situation. Our President promised a major change to the US and this bill was one of the first things he did to help those who are trapped in debt. Secondly, with President Obama's credit card debt relief program, many creditors have been so called "bailed out" because of stimulus money.

Negotiation

What does this mean and how does President Obama's credit card debt program benefit you as a consumer?

What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

1. If you have over ,000 in unsecured debt, it can be erased by up to 60% and sometimes more.
2. You credit score will not be negatively affected by having to file bankruptcy
3. It gives you a chance to breath financially as you are able to work with companies that work within President Obama's credit card debt relief program.

Now, saying all of this, many times companies will help you once, so this means that after you debts are erased, it is important to get into a system where you only charge in emergency situations. Also, almost every company will talk with you for free to see exactly how much you can get erased.

What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

Did you know you can legally erase your debts? It is now perfectly legal to Erase Credit Debt according to the new stimulus package if you have over ,000 in debt. They give out free information to help you erase your credit card debt once according to the new stimulus package.

Click Here. It takes less than 10 seconds.

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