Wednesday, May 6, 2020
MA in Virgin Airlines
Question: Discuss about theMA in Virgin Airlines. Answer: Introduction In terms of sales departments, the management has emphasized upon disseminating the different roles of management reporting into several sets of job profiles. These posts comprises of Accounts Managers, Operational Executives and sales analysts. The key revenue indicators comes from passenger ticket sales, this is to be followed by the revenues generated through the freighting activities coupled with providing logistical solutions. Instead of machine hours as used in manufacturing and production operations, the airline uses Block Hour (BH). A synonym for Aircraft Hour, the BH is determined by the duration that a particular flight takes between moving out of departure gate until entering the arrival gate (Belobaba, Odoni and Barnhart 2015). The productivity of airlines is computed using the BH unit; Virgin too utilizes these unitary measures in order to gauge the degree of efficiency of its operating activities. The primary fleet of airbus operated by the company comprises of Boeing 7 37-400 and 737-800 (Virgin Australia 2016). The airline sets a particular benchmark for utilization of its aircraft carriers based upon the industry standards and thereby computes the degree of variance based upon the frequency of its flight schedules. In terms of measuring the overall unit costs of operations, the cost per unit of available seat mile (CASM) is utilized by the Virgin Airline likewise other airline companies. The basic methodology for computing CASM is through determination of aggregate operating costs followed by computing the quantum of available seat miles and then dividing the former with the latter (Web.mit.edu 2016). The actual CASM is derived and analyzed periodically; mostly on a quarterly basis in order undertake comparison with the industry standards. The benchmarking of the costs as against Virgin Airlines domestic and international competitors assists in evaluating the effectiveness of cost management operations currently implemented by the company. Revenue Passenger Miles (RPM) is the measurement unit of computing the degree of passenger traffic managed by the airline in the last quarter, half year or annual period. The RPM is a indicator of the salability of the airline due to the fact that computation of RPM entails determining the number of airline seats sold by the company. A high RPM tends to indicate the fact that the company has succeeded towards retaining its existing consumer base along with attracting newer sets of flyers (iata.org 2016). The analysts undertaking the evaluation of sales activities tends to use RPM as a parameter to make recommendations regarding current management policies concerning the sales activities. The load factor is another costing unit utilized in order to assist in determining the quantum of consumption of airline output. The load factor comprises of using the RPM as a percentage of Available Seat Miles (ASM). Moreover, the computations as regards to load factor is done by the company on a w eek by week basis in accordance with the industry norms which is then aggregated at the end of a particular quarter. The revenue generated by the company through carriage activities pertaining to its passengers are categorized as passenger revenue (PR). Moreover, they are appropriated on the basis of schedule flight operations thereby attributing the costs in accordance to each activity. The passenger revenue is a representation of a division among the sources of revenue generation by the airline. The generated revenue by the airline is segregated amongst the revenue earned from passengers and those earned purely from logistical activities. Another form of measurement of revenue relates to the fact that the total revenue is to be computed with regards to ASM in order to facilitate evaluation of revenue generated per ASM. Airline industry in general has diverse sets of costs comprising of regulatory expenses, operating expenses, services costs and costs pertaining to security, technological up gradation expenditures among others. Virgin Airlines has numerous expenses that are variable in nature and cost of which tends to vary upon several relevant factors. Primary among them being the travel routes in which the airline operates. Moreover, the purchasing mechanism for aircraft carriers, maintenance costs, staff salaries, aviation fuels costs among others. Further, the maintenance costs relating to aircrafts vary in quantum. This is owing to the fact that the specification, fuselage and efficiency along with the engineering involved in manufacturing the aircrafts vary from aircraft to aircraft. The airlines follow ABC method of costing in order to compute aircraft maintenance costs due to the inherent nature of cost allocation facilitated by ABC costing. The ABC method of costing has been developed with an intention towards providing a enhanced set of platform for cost ascertainment than what was provided by Traditional Cost Accounting (TCA). The benefits as regards to ABC Costing arise from the fact that the product cost behavior can be adequately evaluated by companies implementing the method (Drury 2013). In terms of Virgin Airlines, the usually distorted sets of cost computations resulting from implementation of TCA can be reduced substantially by applying ABC. In case of TCA, the allocation of overhead costs has been facilitated through accumulation of costs from each department. This is followed by allocating them to the services or products (Levant and Zimnovitch 2013). On the other hand, ABC costing tends to undertake cost ascertainment and allocation based upon different sets of activities (Kaplan and Anderson 2013). Thereby, the allocating processes under ABC are more transparent and rational in nature for airline companies like Virgin. Airline industry in general incurs heavy maintenance costs that can be segregated into both direct and indirect costs. Every set of Airline Company, including Virgin Airlines, tends to have their activities distributed amongst aircraft maintenance, cabin and crew maintenance, structure maintenance coupled with upkeep of relevant tools. The aircraft maintenance activities comprise of preflight checking and functioning, inspection of aircraft decks, performing onboard operation checks along with cleaning of airbuses. Further, in terms of cabin maintenance, the activities entails maintaining the rugs, seats and carpets inside the flights coupled with installation and upkeep of emergency medical aids. The structure maintenance pertaining to airbuses comprises of repairing, oiling and painting, overhauling and wielding activities. The direct costs in relation to airline operations includes engine maintenance costs, direct labor costs as in salaries of cockpit crews and aeronautical engineers directly involved in operating in the predetermined routes. Moreover the leasing, rents relating to airbus maintenance, both heavy and base aircraft maintenance consumables falls under direct costs. The primary form of overhead costs includes regulatory fees to be paid to aviation authorities, depreciations as regards to airbuses and the rent relating to aircraft hangars. The majority of MA functions are undertaken by the Finance department whose functions includes initiating the financial analysis, financial forecasting, preparation of internal audit report, management of expansionary and up-gradation projects (Virgin Australia 2016). The relevant job roles pertaining to the finance department comprises of Auditor, Project Managers, Business Analysts and Accountants along with specialization in IT architecture and softwar e. The major forms of reports generated by airlines in order to facilitate managerial decision making comprises of preparation Flight Load on a daily basis. The flight load pertaining to a particular period comprises of flight numbers, the operating flight routes, details regarding the departure and arrival time. Further, such report also takes into account the volume of passenger booking the flights coupled with no show. The next line of reports tends to provide details regarding BH, RPM, ASM and PR in order to facilitate performance evaluation of activities undertaken by the company. Moreover, preparation of budget forecasting under the supervision of Finance Department tends to assist in mitigating the prevalent degree of cost overruns. References: Belobaba, P., Odoni, A. and Barnhart, C., 2015.The global airline industry. John Wiley Sons. Borenstein, S. and Rose, N.L., 2014. How airline markets work or do they? Regulatory reform in the airline industry. InEconomic Regulation and Its Reform: What Have We Learned?(pp. 63-135). University of Chicago Press DRURY, C.M., 2013.Management and cost accounting. Springer. Hill, G., 2016. Cost management.MHD Supply Chain Solutions,46(4), p.16 Joseph, J. and Vetrivel, M.A., 2013. Impact of target costing and activity based costing on improving the profitability of spinning mills in coimbatore-empirical study on spinning mills.Journal of Contemporary Research in Management,7(2). Kaplan, R. and Anderson, S.R., 2013.Time-driven activity-based costing: a simpler and more powerful path to higher profits. Harvard business press. Kaplan, R. and Anderson, S.R., 2013.Time-driven activity-based costing: a simpler and more powerful path to higher profits. Harvard business press. Levant, Y. and Zimnovitch, H., 2013. Contemporary evolutions in costing methods: Understanding these trends through the use of equivalence methods in France.Accounting History,18(1), pp.51-75. Raeesi, R. and Amini, A., 2013. Developing a Grey Activity Based Costing (G-abc)Method to Capture the Inherent Uncertainity in Identifying Cost Drivers Consumption Rates. Academy of Accounting and Financial Studies Journal,17(2), p.41. Virgin Australia. (2016). Department Profiles | Virgin Australia. [online] Available at: https://www.virginaustralia.com/au/en/about-us/careers/department-profiles/ [Accessed 18 Oct. 2016]. Web.mit.edu. (2016). Airline Data Project. [online] Available at: https://web.mit.edu/airlinedata/www/Res_Glossary.html [Accessed 18 Oct. 2016]. www.iata.org, (2016). [online] Available at: https://www.iata.org/whatwedo/Documents/economics/passenger-analysis-jul-2016.pdf [Accessed 18 Oct. 2016].
Tuesday, May 5, 2020
Assess the Most Important Constitutional free essay sample
New Labour came into power on May 1st 1997 and pledged to undertake the most radical shift in constitutional arrangements which would reform British constitution. Majority agree that this was a momentous period of constitutional change, arguably the most important period of constitutional change in Britain since the introduction of universal suffrage. However others think that it was too radical, too unplanned and too unfinished. By the end of its first term (1997-2001), the Balir government had enacted a substantial reform programme. One reform introudced after 1997 was devolution. The centrepiece of Labourââ¬â¢s programme of constitutional reform was undoubtedly this. Referendums had been held in Scotland, Wales and Northern Ireland regading whether they should have their own Parliaments and devolved government. Devolution will almost certainly have an impact on the wishes of the people who live there to see complete independence for their country. Once devolution had been granted, complete independence would see an opportunity to point out how good that country is at self-government. It would also lead a renewed push for independence it is better for Scotland and Wales as they get to run a minority themselves without so much interference by our incompetent government. In Scotlandââ¬â¢s first year it passed eight bills into acts and eleven bills were going through the parliamentary process. Therefore, in 12 months 19 issues relating to Scotland were either finalised or going through the process of being accepted or not. On average, the House of Commons passed one or two acts a year that directly related to Scotland. In this sense, the Scottish Parliament has been very successful as they managed to set things straight. One of the major arguments against devolution is that it will be the start of the break-up of the United Kingdom; that from small beginnings (if devolution can be seen as ââ¬Ësmallââ¬â¢) the ultimate fate of this country will be regional authorities with more devolved power in the counties ââ¬â this may appeal to those who want more authority in counties like Cornwall, but many see this as the start of the break up of the United Kingdom with a massive loss of central authority. Another reason as to why it can be seen as unsuccessful is that for the Scottish, they are not allowed to interfere with English laws apart from those that concern them, for example agriculture and education. This can be seen as unfair because the British can make amendments to Scottish laws, this may lead to another reason why the Scottish should have their independence. Overall it can be seen as a success for parts of England as they were entitled to independence. In a 1997 poll, people in Scotland were asked whether they felt they were Scottish or British. They answered as followed that 63% indicated that they felt that they were Scottish or more Scottish than British. This would fit in with the Marshall model ââ¬â those who felt that they were Scots would wish for their own Parliament. So it accomplished the wishes of the Scots making it a success for the Scottish population. Another reform introduced after 1997 was the Human Rights Act (1998). The Human Rights Act was implemented in 2000 but was the basic rights that each human being is entitled to, for example, fundamental rights, procedural rights and qualified rights. Some people may find this unnecessary as it is common sense to know what rights you are entitled to and that having it printed as an act could debatably have been a waste of time and the act could have just been uncodified. On the other hand people can say that the Human Rights act was very successful as it made adamant about what our rights are as humans. It helped to promote diversity as it outlined equal opportunities, regardless of colour. It promoted togetherness, hence there would be equity and equality so it introduced diversity means peace and no prejudice / discrimination or violent acts against those with different colour. It also helped vulnerable people who needed protection; it stopped them from being exploited as they knew what rights they were entitled to. The Human Rights Act of 1998 overall was a success due to the fact that it finally guaranteed basic human right for the British people and led to a protection and recognition of individuals rights. New Labour introduced another reform in 1999 which was A Freedom of Information Act. This act was an Act of Parliament that creates a public right to access to information held by public authorities. This can be seen as a positive aspect of the constitutional change as it prevents the government from being too secretive. The revelations about MPs expenses would not have been available to the Daily Telegraph had the parliamentary authorities not been preparing a document for FOI release; and there have been many other disclosures that have served to highlight stories many would wish to hide ââ¬â such as Princes Charless black spider memos to government ministers. December 1997 the government issued a White Paper entitled ââ¬ËYour Right to Knowââ¬â¢ which stated that ââ¬Ëunnecessary secrecy in government leads to arrogance and defective decision- makingââ¬â¢. This shows that it was successful because the public can see what is happening with the people who are meant to be representing their constitutions. For some, they would argue the fact that passing the act wasnââ¬â¢t a success as it is seen to be a waste of time and money, with requesters complaining that important information is all too often redacted. Or that it is withheld by authorities who are keenly aware of the news value of the material they hold. They could argue that sometimes information is simply lost for three or even four years in a slow appeals process as the information commissioners office is swamped with cases. From this a conclusion can be drawn that it wasnââ¬â¢t a success due to the wastage of money and time when things are purposely delayed. Overall it can be said that the passing of this act has been a success due to the fact that information can be revealed however somethingââ¬â¢s take time to come out within the process. Reform of the House of Lords had long been on Labour Party agendas and had plagued British politics for a hundred years, with relatively progress achieved until recently. The problem had been that historically it has been a largely hereditary and non-democratic Chamber. New Labour decided to take power away from those who were born into it and govern it to people who have earned it. This would have been good in the public eye as it would indicate that exceptional people who have been selected will serve in the House of Lords. However, the reform was left unfinished and the intention was that the initial changes would only be miniscule. The Labour Governmentââ¬â¢s proposal for a partly appointed, partly selected chamber was widely ââ¬Ërubbishedââ¬â¢ and they handed the issue over to a committee of both houses. But they failed to come up with an acceptable alternative and the issue remains unresolved. So, the reform was mainly unsuccessful due to that it was incompleteâ⬠¦If many British people can accept that to be a royal you have to either marry or be born into it then it should have been understandable for Lords to be born into Lordship. Nevertheless, it was fair to stop hereditary lords. In conclusion as to what was the most important constitutional change introduced in UK since 1997; devolution was by far the most influential, radical and valued reform. It changed how the country is governed and it definitely had a massive impact upon the Scottish population. It signaled that the Scottish are not English and that they now have their own identity. Many people believe that the change was overdue and much needed. Devolution has given more say to the regions and made them happier with their places in the UK.
Monday, April 13, 2020
The Top Economic Essay Topics
The Top Economic Essay TopicsThe economic essay topics listed in this article will give you an idea of what kinds of topics are in the general flow of the topic. Also, these essays include some examples to show the students how it is done. Other types of topics that are commonly used in the texts for economics include questions, money, economy, ethics, taxes, industrial revolution, government, and markets.It is a good idea to think of a topic that pertains to one of the economics subject areas. Topics are always broad, so it is better to start from one of the main topics. A topic can be as broad as one's financial background. Then, one can come up with topics that pertain to one's education, career and life choices.One can include a 'core topic' which will be a basic idea or a theory behind a topic. It is important to establish your area of expertise and move from there. By doing this, the readers will be able to connect with the topics on your work. At the same time, it will give yo u an opportunity to expand on your topic and add to your authority and credibility.Once the basic ideas are established, they can be expanded upon by adding in various type of information and also starting from the beginning. A common addition to an economic essay topics list is to add in one or two graphs, tables, or charts. This way, the reader is able to see the expansion of your topic. There are some examples to show that just adding in the graph or chart will increase the number of views and viewers on the page.A quick example is the example of the economy. Economics is really a broad subject and is comprised of a great many different areas. However, economics is usually expanded with reference to the nature of an economy and also with reference to one of the elements of economics, namely the theory of value. It can be expanded on in various ways and can make the text more appealing.The examples of the economics essay topics listed in this article can be easily reproduced on th e Internet. These can be put together to form a web page. When there is a web page that can offer a link to all the economic topics and different types of topics, it will give the text a wider reach. This will help to improve your credibility and authority.One should always take note of economics essay topics that relate to theories. These should be incorporated into one's essay before it can be published. Having a good grasp of these theories will help the reader to understand your own subjects and make the text more interesting. It is not necessary to mention these theories unless one wishes to.Essay writing should not be done without any prior research. Essay writing should be done with an aim towards the goals of increasing credibility and authority. This will also encourage others to read your work and bring more attention to it.
Sunday, April 12, 2020
Philosophers Stone Essay Example
Philosophers Stone Essay The camera angle now changes to a close up of the boy. He looks in the mirror to where his mother was standing, and touches it. His facial expressions demonstrate that hes trying to hold back his tears. Perhaps he is trying to make himself look like a big boy, who doesnt really need his mum anymore.à There is a parallel to be made here between this scene and another well known to children. In Harry Potter and the Philosophers Stone there is a moving episode where Harry sees his dead parents in the mirror. He reaches out to them but then they are gone. The film preceded this Cancer advert but clever advertisers recognize the power of association. They know that children watching this appeal will be reminded of their favorite film and will instantly bond with the advert. It might even encourage them to draw their parents attention to it. Association of the product with a well-known media star or event is a well-used technique. The advert now diverts to a family who has been treated by the Cancer organisation. The mother in this scene is brushing her hair; its quite a normal thing to do, the family doesnt look affected by cancer at all. The children are talking the background of the three shot camera angle. The phone number appears on the screen, whilst the voiceover says Please call 0800 316 4000 and give 2 a month to Cancer Research UK. We will write a custom essay sample on Philosophers Stone specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Philosophers Stone specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Philosophers Stone specifically for you FOR ONLY $16.38 $13.9/page Hire Writer At this point the advert is telling the viewer to contribute a small donation and magnify the result. The colours in the background are warm and pleasant, associated with life and security. The mother says to one of her children come here and hugs her child with strength and love. The hug becomes a kiss and a hug again; this is showing to the viewer the strength of their relationship. This also implies openness and a need to communicate to children about cancer. It blows away previously held myths that cancer is infectious or has a stigma attached to it. Text is printed across the screen à ¯Ã ¿Ã ½2 a month will help us cure cancer faster these are a few short words which will help the viewer to develop an understanding for the uses of the small contribution. Most adverts tend to leave the advert with a key point, or name so that the viewers will remember the product advertised when they next go shopping. The Cancer Research UKs advert finishes with the mother and daughter hugging. The background has a mirror that reflects the light, and warm colours to show the life and future the family has together. The advertisement here is stressing the effectiveness of the product, that is, Cancer Research UK would make good use of your contribution. In my opinion, the advertisement is successful because it shows two scenes that are both similar and contrasting. Both portray family life with a mother and child. However the fundamental difference is life and death. In one scene the mother dies of cancer. In the other the mother survives. The inference is that the person who can really make the difference is the viewer. A modest donation of à ¯Ã ¿Ã ½2 a month is a small price to pay to alleviate the viewers guilt, to buy hope and find an effective cure for cancer. The advert empowers the viewer to act in a positive way and this is an appealing message. It also implies that as one in three of us will develop cancer at some point in our lives, and therefore it would be a good and wise investment.à This is a beautifully crafted advert that stimulates the senses of sight, sound, and touch. As such, it makes a lasting impression especially as a potential giver can contribute to a happy ending.
Tuesday, March 10, 2020
Free Essays on Long Days Journey
The play Long Days Journey into Night creates a world in which communication has broken down. One of the great conflicts in the play is the characters' uncanny inability to communicate despite their constant fighting. For instance, the men often fight amongst themselves over Mary's addiction, but no one is willing to confront her directly. Instead, they allow her to lie to herself about her own addiction and about Edmund's illness. Edmund and Jamie do not communicate well until the last act, when Jamie finally confesses his own jealousy of his brother and desire to see him fail. Tyrone, likewise, can only criticize his sons, but his stubborn nature will not allow him to accept criticism. All the characters have bones to pick, but they have trouble doing so in a constructive fashion. Most of the bones that need picking emerge in the past, which is remarkably alive for the Tyroneââ¬â¢s. Mary in particular cannot forget the past and all the dreams she once had of being a nun or a pianist. Tyrone too has always had high hopes for Jamie, who has been a continual disappointment. All the conflicts and the problems from the past cannot be forgotten, and, in fact, they seem doomed to be relived day after day. It is important to note that Long Day's Journey into Night is not only a journey forward in time, but also a journey back into the past lives of all the characters, who continually dip back into their old lifestyles. The reader is with the realization that the family is not making progress towards betterment, but rather continually sliding into despair, as they remain bound to a past that they can neither forget nor forgive. The play is all the more tragic because it leaves little hope for the future; indeed, the future for the Tyroneââ¬â¢s can only be seen as one long cycle of a repeated past bound in by alcohol and morphine. This play was awarded the Pulitzer Prize when it was first published, and it has remained one of the most admir... Free Essays on Long Days Journey Free Essays on Long Days Journey The play Long Days Journey into Night creates a world in which communication has broken down. One of the great conflicts in the play is the characters' uncanny inability to communicate despite their constant fighting. For instance, the men often fight amongst themselves over Mary's addiction, but no one is willing to confront her directly. Instead, they allow her to lie to herself about her own addiction and about Edmund's illness. Edmund and Jamie do not communicate well until the last act, when Jamie finally confesses his own jealousy of his brother and desire to see him fail. Tyrone, likewise, can only criticize his sons, but his stubborn nature will not allow him to accept criticism. All the characters have bones to pick, but they have trouble doing so in a constructive fashion. Most of the bones that need picking emerge in the past, which is remarkably alive for the Tyroneââ¬â¢s. Mary in particular cannot forget the past and all the dreams she once had of being a nun or a pianist. Tyrone too has always had high hopes for Jamie, who has been a continual disappointment. All the conflicts and the problems from the past cannot be forgotten, and, in fact, they seem doomed to be relived day after day. It is important to note that Long Day's Journey into Night is not only a journey forward in time, but also a journey back into the past lives of all the characters, who continually dip back into their old lifestyles. The reader is with the realization that the family is not making progress towards betterment, but rather continually sliding into despair, as they remain bound to a past that they can neither forget nor forgive. The play is all the more tragic because it leaves little hope for the future; indeed, the future for the Tyroneââ¬â¢s can only be seen as one long cycle of a repeated past bound in by alcohol and morphine. This play was awarded the Pulitzer Prize when it was first published, and it has remained one of the most admir...
Sunday, February 23, 2020
Demand and Supply Paper Essay Example | Topics and Well Written Essays - 750 words
Demand and Supply Paper - Essay Example This people interact in the market freely, or at the time there is intervention by the government or local authority (Welbourn 2007). The forces of demand supply come together and make up the market equilibrium. If the supply of a certain good or service is too high, this will push the price for that particular good or service downwards. If there is too much demand in the market surpassing the supply, the prices of the goods or service will go up (Welbourn 2007). This is because their will be too much money chasing too little goods. For the market to be in equilibrium the forces of demand, have to come together. This will help to determine the price of a particular good or service. To help take in this concept, I have decided to elaborate the concept of demand and supply using a good that most people cannot do without. Toothpaste. Most people tend to be extremely uncomfortable when they do not brush their teeth using toothpaste. The dentists also recommend people to brush their teeth with toothpaste at least twice in a day. This makes toothpaste a vital commodity in every household. QQuantity The above are the demand and supply curves for toothpaste. The demand curve is determined by plotting price on the y-axis and quantity on the x-axis. Since tooth paste is packed in different sachets containing different quantities. One can obtain this information in the local supermarkets. We take the different quantities of toothpaste and the amount they sold for. Through this method, one can easily come up with the demand curve for toothpaste. The same process is to be followed so as to determine the supply curve. The curve obtained by plotting the quantity on the x-axis and price on the y-axis (Welbourn 2007). Equilibrium is the point where the demand and supply curve intersect. In our case indicates no allocative inefficiency. The equilibrium price is P while the equilibrium price will be Q. This, however, is not static as the prices of toothpaste are constantly changi ng. These fluctuations have an effect on demand and supply curves. This will in turn affect the equilibrium price and equilibrium quantity (Klein 2011). In our case, however, the markets are not in perfect equilibrium. This is because there might be excess demand or supply of toothpaste in the market. Another reason might also be that the market does not entirely depend on demand or supply forces to determine the market price (Welbourn 2007. There will be government intervention through taxes, licenses and various other regulations put in place by the government. There are two economic theories that may be used to explain this phenomenon. The first one is the theory of demand, and the other one is the theory of supply (Adil 2006). The theory explains the relationship between the goods demanded by the consumer and the prices. The more a good supplied in excess, in the market then the price for the good or service will drop. This will also have an effect on the equilibrium price as it will also drop. The other theory is that of supply theory. This theory explains that when consumers are in need of a product. That is the supply does not meet the consumers demand than the prices of that commodity increases. In other words, whenever the supply of a commodity is too much the price of a product will decrease (Klein 2011). For the market to be in perfect equilibrium, the following has to happen. The cost of production for any good or service should be constant. This
Thursday, February 6, 2020
Facebook Essay Example | Topics and Well Written Essays - 500 words - 2
Facebook - Essay Example Ashley Watson lists Starbucks, Victoriaââ¬â¢s Secret, Zara, McDonalds, H&M, Taco Bell, Subway, Lacoste, Hollister and Forever as the top ten most liked retailers advertising on Facebook and claims they are selling themselves on the site as they discovered it as an innovative way of letting themselves be known to consumers. The advertisers on Facebook generally let their products known on the networking site because of the number of people they can reach as friends of targeted consumers see what they are engaged with when they click on the like button below the pictures of advertisers (Stambor). In addition, Facebook advertising is cheaper on the part of the retailers while they are still able to reach more consumers with the help of their prospectsââ¬â¢ free advertisements tot their friends. As mentioned earlier in the ads of Facebook, retailers are also able to interact with customers, telling them more about their products and answering questions which makes consumers appreciate or give suggestions to the retailers. Being the top among the ten retailers mentioned earlier, Starbucks gained its status with a well done Facebook page (Lee) where they communicate with their customers, updating them with new products, promotions and other pertinent information that engage their fans. One noted activity of the retailer is giving away free products when they print out invitations from their advertisement on the networking site which increased their production within the promotional period. Another retailer that took great advantage of the siteââ¬â¢s advertisement page is the controversial Taco Bell (Lee, Singer) with the lawsuit claiming its Taco fillings do not meet the standard requirement of the USDA to be labeled as beef, the retailer used Facebook to pacify consumers. It is giving away ten million coupons to those who like them on Facebook which consequently entitles them for free Tacos and the more than five million followers of Taco Bell
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