Market research 4Ps Essay

In today’s multi-faceted business environment, it is generally agreed that a strong customer-driven marketing strategy can give one an edge over his competition. Designing it, however, did not prove to be so straightforward. It is therefore this reflection paper’s aim to ponder over the various aspects that I have found intriguing and glean insights from them. Firstly is the â€Å"Marketing Mix† aspect, specifically the 4 P’s framework – Product, Pricing, Placing & Promotion. The 4 P’s is one of the best known frameworks for a marketing plan, of which the aim is ultimately to fulfil a basic marketing purpose – Putting the right product in the right place, at the right price, and at the right time. Getting all aspects of this framework is of paramount importance. Miscalculating one could result in disastrous consequences, for example you could be promoting a revolutionary diet plan in a country hit by famine or publishing a textbook after school term has started. In the process of brainstorming for a product, some innovative ideas were eliminated due to the fact that they were deemed unsuitable for the Singapore market. One such example is the ostrich pillow1, a nifty headgear for people to catch a comfy nap anytime, anywhere. Due to its odd shape and Singapore’s conservative culture, we decided that the market might not open up to the idea. The Product itself was good, but the Promotional strategy would encounter difficulties. One of the other teams did their project on space-saving furniture. The end result was that one convertible table/couch would cost upwards of $2000. This is a potential mismatch between Product and Pricing strategies, as the average consumer who could afford such prices would unlikely be living in a house that requires space-saving technology. The Pricing aspect by itself also proved to be extremely interesting, as everyone’s project seemed to unanimously adopt a value-based pricing strategy. So then, what of cost-based pricing? Is it not an effective strategy? With this in mind, I began my research to find out more about it. The classic example cited in this debate is that of Steve Jobs vs Sam Walton, two of the greatest business leaders in history. An interview conducted by Fortune Magazine2 best highlighted the difference between these two extraordinary men and their methods. It is noted that Steve Jobs epitomized value-based pricing by focusing mainly on the product  instead of margins. He said, â€Å"If you keep your eye on the profit, you’re going to skimp on the product. But if you focus on making really great products, then the profits will follow.† Sam Walton, on the other hand, built Walmart around the concept of low margins and high volume, i.e. cost-based pricing. If the margins got above anything that was infinitesimal, he would get angry. Both have built extremely successful companies using entirely different pricing strategies. So why does a value-based pricing strategy seem so much more popular than a cost-based one? Perhaps it all boils down to prestige. Being the boss of a premium brand certainly holds more distinction than say, opening a dollar store. Or perhaps the road to building a company large enough for cost-based pricing to be effective is an arduous task that faces more obstacles in the form of existing industry giants. In any case, it is worth noting that cost-based pricing is in no way obsolete, but simply overshadowed by the recent successes of premium brands3. Another strategy that the class unanimously adopted is Promotional strategy, specifically in social media terms. Facebook appeared to be the prime choice of social media strategy for everyone, and rightly so. A survey conducted in 2011 showed that Singaporeans are the global leaders for the longest time spent on Facebook, clocking 38mins 46secs per session, putting us ahead of countries like US, UK, and Australia . Add that in to the capital limitations of start-up companies, Facebook becomes the logical choice for our promotional channels. A case study on Scoot’s4 wildly popular Facebook marketing campaign gave us further affirmation that this was the right way to go . As for the Placing aspect, the dilemma existed whereby in order to position ourselves as a high street fashion brand, a retail store had to be open at a prime location such as Ion. The rental for such locations, however, would strain our budget even further. To put it in perspective, the rental costs for an Ion level 1 space is $29 per square feet whereas the rental costs for Ang Mo Kio Hub is a mere $19 per square feet. That adds up to almost $40k difference per year for a store of 330 square feet, which is an extremely large sum for a start-up company. We eventually decided that it was worth the risk, but had to make careful budget adjustments to manage our finances. Next issue of interest is the importance of an action plan. Why is an action plan so important? Without an action plan, all we have is a broad strategic plan. Think of it  like making a resolution for a new year – you may state that you plan on losing weight, however you do not add in specific details as to how you are going to do it . A concrete action plan ensures that one stays focused and has a clear idea of what to do and when to do it by. The group that did the project â€Å"Fitting Reality† had an impressive action plan which was both detailed and tailored to account for contingencies. That way, should anything go wrong, there would still be plans to fall back onto instead of the whole project being thrown into disarray. Another particularly noteworthy issue is that seemingly all groups focused on customer acquisition, but few bothered to put effort into customer retention. This is puzzling for one main reason – It is a widely held belief that acquiring a new customer costs on average 5 times more than retaining an existing one. It is therefore wise to invest equally in customer retention alongside customer acquisition, or else it would be tantamount to taking one step forward and two steps back. Some recommended strategies of customer retention include loyalty discounts and membership privileges, as well as constant updates and active engagement with the customers . An area that I found intriguing was the fact that no other groups seemed to conduct a market survey in their marketing plans. To me, a market survey is extremely useful as it helps gauge the future demand of the product. A poor response would allow to us to pull the plug on the project before anything concrete is launched, thereby cutting our potential losses massively. Furthermore, based on the results of our market survey, we were able to effectively segment our consumers as it showed distinctly which group of customers were most interested in our product. Of course, a counter argument could be made that a well-crafted marketing strategy would amp up the hype over the product and turn initial consumer skepticism into enthusiasm. Both arguments are certainly valid, but it seems that market surveys are still very much recommended as an important requirement for initiating any successful business . One of the difficulties encountered by our group in the process of designing our marketing plan is the aspect of controls. We all know the importance of controls. It monitors the progress of our plan and makes adjustments when it deviates off course. So how then do we determine the key performance indicators (KPI) and at what level do we set it? Should we operate on the economist’s definition of bottom-line or the accountant’s  definition? These were all daunting questions that had to be answered. Ultimately, we chose to follow sales projections quoted in our financial plan as the main control. In hindsight, we could have adopted a market share analysis instead as sales figures may not give a wholly accurate representation. For example, if the footwear market faces a sharp downturn, we could be facing lower than expected sales figures but still capturing a large market share vis-à  -vis our competitors. A qualitative control method in the form of customer attitude tracking can also reveal to us what customers feel about our organisation, products and services, thus allowing us to make pre-emptive changes and preserve the brand reputation . The final topic of interest again lies with the marketing mix, but this time with respect to B2B commerce. Two of the groups came up with products that were targeted solely at businesses and within their marketing plan included the conventional 4 P’s. The 4 P’s has been a great framework that has served marketers well for over half a century. But the nature and evolution of B2B commerce as compared to B2C means that it might be time to rethink and reassess the framework for today’s B2B reality. According to a comprehensive study done by Harvard Business Review , the conventional 4 P’s model has been found to undercut B2B marketers in 3 major ways: 1 – It leads the marketing team to stress product technology and quality even though these are no longer differentiators but simply the cost of entry. 2 – It underemphasizes the need to build a robust case for their products’ superior value. 3 – It distracts companies from leveraging on their competitive advantages as a trusted source of expertise. Of course, it is also worth noting that this in no way renders the 4 P’s obsolete. Rather, they just require some tweaking to better suit the B2B industry, such as Motorola’s SAVE framework: moving the emphasis from Product to Solution, Placing to Access, Pricing to Value, and Promotion to Education . As the study so aptly cites, â€Å"B2B marketers who continue to embrace the 4 P’s mind-set risk getting locked into a repetitive and increasingly unproductive technological arms race.† And indeed, as trends change and industry evolves, so too must marketers and our strategies. Bibliography AsiaOne. (2011, September 27). AsiaOne News. Retrieved April 17, 2013, from Science and Tech: http://www.asiaone.com/News/Latest%2BNews/Science%2Band%2BTech/Story/A1Story20110927-301776.html Ettenson, R., Conrado, E., & Knowles, J. (2013, January). Rethinking the 4 P’s. Retrieved April 18, 2013, from Harvard Business Review: http://hbr.org/2013/01/rethinking-the-4-ps/ar/1 FAO, UN. (2012, Feburary 5). FAO Corporate Document Repository. Retrieved April 17, 2013, from Marketing Strategy, Planning and Control: http://www.fao.org/docrep/004/w3240e/W3240E03.htm Gandhi, R. (2012, July 2). Pitney Bowes. Retrieved April 17, 2013, from Keeping Your Customers with Email Marketing: http://www.pbsmartessentials.com/customer-satisfaction/keeping-your-customers-with-email-marketing/ Mind Tools Ltd. (2011, Dec 12). The Marketing Mix and 4 Ps. Retrieved April 15, 2013, from Mind Tools Website: http://www.mindtools.com/pages/article/newSTR_94.htm Senic, N. (2013, Feburary 2). EFFECTIVE CONTENT STRATEGY GUIDED BY THE SAVE FRAMEWORK. Retrieved April 18, 2013, from Zemanta: http://www.zemanta.com/blog/content-strategy-guided-save-framework/ Serwer, A. (2012, December 3). Steve Jobs vs. Sam Walton : Tale of the Tape. Fortune, pp. 59-64. Tan, R. (2012, October 9). Flamingo Singapore. Retrieved April 17, 2013, from Facebook marketing: A case study on Scoot: http://flamingosingapore.com/2012/10/09/facebook-marketing-a-case-study-on-scoot/ UNESCO. (2011, March 10). UNESCO Bangkok. Retrieved April 17, 2013, from e-library publications: http://www2.unescobkk.org/elib/publications/clcneo/06market.pdf Woodward, R. (2011, October 1). Bright Hub PM. Retrieved April 17, 2013, from Project Planning: http://www.brighthubpm.com/project-planning/102438-why-are-action-plans-important-in-business/ Appendix A 1.1 Ostrich Pillow

Answers to Questions About Punctuation #3

Answers to Questions About Punctuation #3 Answers to Questions About Punctuation #3 Answers to Questions About Punctuation #3 By Mark Nichol Here are a few questions from DailyWritingTips.com readers about various punctuation issues, followed by my responses. 1. A lawyer asks a witness about a quoted statement made to the witness by another person, such as â€Å"Did she tell you, ‘I have to call the authorities, you’re going back. Stay right here.† Should there be a question mark after the closing quotation mark? The framing sentence the one in which the quotation is framed, is a question, so the terminal punctuation should be a question mark. However, the division of the quotation into two sentences, with a period intervening, is awkward, because that terminal punctuation interferes with the role of the question mark. (The first sentence also includes a comma splice, in which two independent clauses are erroneously separated by a comma rather than a stronger punctuation mark such as a semicolon.) Here’s my solution: â€Å"Did she tell you, ‘I have to call the authorities; you’re going back stay right here’?† 2. Is the following quotation punctuated correctly? â€Å"Do you think she has the nerve to tell him, ‘You are a terrible man.’?† I think I recall a rule that you can’t have two kinds of punctuation at the end of a quote, but how else can it be done? The question mark preempts the period: â€Å"Do you think she has the nerve to tell him, ‘You are a terrible man’?† 3. Is it still correct to place a semicolon before however and a comma after it? Yes. Here’s a post on the topic. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:100 Whimsical Words50 Idioms About Arms, Hands, and FingersWhile vs. Whilst

Definition and Examples of Tricolons in Rhetoric

Definition and Examples of Tricolons in Rhetoric Tricolon is a  rhetorical term for a series of three parallel words, phrases, or clauses. Plural: tricolons or tricola. Adjective: tricolonic. Also known as a  triadic sentence. For example, this tricolonic advice for  speakers  is generally credited to  President Franklin D. Roosevelt: Be sincere, be brief, be seated.Its the sense of completeness, says  Mark Forsyth, that makes the tricolon perfectly suited to grand rhetoric (The Elements of Eloquence, 2013). Tricolon comes from the Greek, three unit. Examples and Observations Dorothy ParkerI require three things in a man. He must be handsome, ruthless, and stupid.Robert Maynard HutchinsThe whole apparatus of football, fraternities, and fun is a means by which education is made palatable to those who have no business in it.The Wizard From The Wizard of OzYou are talking to a man who has laughed in the face of death, sneered at doom, and chuckled at catastrophe.President Dwight EisenhowerEvery gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone.It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.President Barack ObamaLet us search for his largeness of spirit somewhere inside of ourselves. And when the night grows dark, when injustice weighs heavy on our hearts, when our best-laid plans seem beyond our reach, let us think of Madiba and the wo rds that brought him comfort within the four walls of his cell: It matters not how strait the gate, / How charged with punishments the scroll. / I am the master of my fate: / I am the captain of my soul. Benjamin FranklinTell me and I forget. Teach me and I remember. Involve me and I learn.Edna St. Vincent MillayDown, down, down into the darkness of the graveGently they go, the beautiful, the tender, the kind;Quietly they go, the intelligent, the witty, the brave.I know. But I do not approve. And I am not resigned.Eric BentleyOurs is the age of substitutes: instead of language, we have jargon; instead of principles, slogans; instead of genuine ideas, bright ideas.E.B. WhiteIn the still air, under the hard sun, gleamed the flags and the banners and the drum majorettes knees.Annie DillardShe loved Maytree, his restlessness, his asceticism, his, especially, abdomen.Holling VincoeurWhat a time we had: splashed through bogs, ate like hogs, slept like logs.Herman From The SimpsonsThe key to Springfield has always been Elm Street. The Greeks knew it. The Carthaginians knew it. Now you know it.Quentin CrispIf you describe things as better than they are, you are considered to be a romantic; i f you describe things as worse than they are, you will be called a realist; and if you describe things exactly as they are, you will be thought of as a satirist. John le CarreThey liked his diffidence when he apologized for the company he kept, his insincerity when he defended the vagaries of his subordinates, his flexibilities when formulating new commitments.Jack Sparrow From The Pirates of the CaribbeanI think weve all arrived at a very special place. Spiritually, ecumenically, grammatically.Edmund CrispinThey chattered with stoic resignation about the state of the war, the quality of the beer, and the minor inconveniences of being alive.Carol Smith[I]n some unknown sequence, she put out the Do Not Disturb sign, applied pink Està ©e Lauder lipstick and combed her short auburn hair. She wrote a note on hotel stationery, opened her Bible to the 23rd Psalm and mixed some cyanide into a glass of Metamucil.Then she drank it. Tricolons in the Gettysburg Address Gilbert HighetTricolon means a unit made up of three parts. The third part in a tricolon used in oratory is usually more emphatic and conclusive than the others. This is the chief device used in Lincolns Gettysburg Address, and is doubled at its conclusion:But, in a larger sense, we cannot dedicate, we cannot consecrate, we cannot hallow, this ground.[W]e here highly resolve that these dead shall not have died in vain, that this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, for the people, shall not perish from the earth.Although Lincoln himself knew no Cicero, he had learnt this and other beauties of Ciceronian style from studying the prose of the baroque age. The Tricolonic Joke Alan Partington[I]n the tricolon joke, the narrative is repeated so that it becomes a script or acquired information, and this repetition sets up expectations about the series, the model being followed. The third part of the tricolon is then employed to upset these expectations in some way. Here is [a] tricolon joke: There are three Irishmen stranded on an island. Suddenly a fairy appears and offers to grant each one of them one wish. The first one asks to be intelligent. Instantly, he is turned into a Scotsman and he swims off the island. The next one asks to be even more intelligent than the previous one. So, instantly, he is turned into a Welshman. He builds a boat and sails off the island. The third Irishman asks to become even more intelligent than the previous two. The fairy turns him into a woman, and she walks across the bridge. The joke begins with a mix of three joke-scripts: the DESERT ISLAND, the GODMOTHER-THREE WISHES and the ENGLISHMAN, IRISHMAN AND SCOTSMAN. A script i s built up within the world of the joke of HOW TO GET OFF THE ISLAND. The script expectations are doubly defeated in the third section of the tricolon. Not only is no intelligence required to leave the island, the intelligent third member of the trio, instead of being the expected Englishman (in the English version of the joke, of course), is a woman, and the joke is partly on the listener, especially if male and English.

Winds and the Pressure Gradient Force

Winds and the Pressure Gradient Force Wind is the movement of air across the Earth’s surface and is produced by differences in air pressure between one place to another. Wind strength can vary from a light breeze to hurricane force and is measured with the Beaufort Wind Scale. Winds are named from the direction from which they originate. For example, a westerly is a wind coming from the west and blowing toward the east. Wind speed is measured with an anemometer and its direction is determined with a wind vane. Since wind is produced by differences in air pressure, it is important to understand that concept when studying wind as well. Air pressure is created by the motion, size, and number of gas molecules present in the air. This varies based on the temperature and density of the air mass. In 1643, Evangelista Torricelli, a student of Galileo developed the mercury barometer to measure air pressure after studying water and pumps in mining operations. Using similar instruments today, scientists are able to measure normal sea level pressure at about 1013.2 millibars (force per square meter of surface area). The Pressure Gradient Force and Other Effects on Wind Within the atmosphere, there are several forces that impact the speed and direction of winds. The most important though is the Earth’s gravitational force. As gravity compresses the Earth’s atmosphere, it creates air pressure- the driving force of wind. Without gravity, there would be no atmosphere or air pressure and thus, no wind. The force actually responsible for causing the movement of air though is the pressure gradient force. Differences in air pressure and the pressure gradient force are caused by the unequal heating of the Earth’s surface when incoming solar radiation concentrates at the equator. Because of the energy surplus at low latitudes for example, the air there is warmer than that at the poles. Warm air is less dense and has a lower barometric pressure than the cold air at high latitudes. These differences in barometric pressure are what create the pressure gradient force and wind as air constantly moves between areas of high and low pressure. To show wind speeds, the pressure gradient is plotted onto weather maps using isobars mapped between areas of high and low pressure. Bars spaced far apart represent a gradual pressure gradient and light winds. Those closer together show a steep pressure gradient and strong winds. Finally, the Coriolis force and friction both significantly affect wind across the globe. The Coriolis force makes wind deflect from its straight path between high and low-pressure areas and the friction force slows wind down as it travels over the Earth’s surface. Upper Level Winds Within the atmosphere, there are different levels of air circulation. However, those in the middle and upper troposphere are an important part of the entire atmospheres air circulation. To map these circulation patterns upper air pressure maps use 500 millibars (mb) as a reference point. This means that the height above sea level is only plotted in areas with an air pressure level of 500 mb. For example, over an ocean 500 mb could be 18,000 feet into the atmosphere but over land, it could be 19,000 feet. By contrast, surface weather maps plot pressure differences based at a fixed elevation, usually sea level. The 500 mb level is important for winds because by analyzing upper-level winds, meteorologists can learn more about weather conditions at the Earth’s surface. Frequently, these upper-level winds generate the weather and wind patterns at the surface. Two upper-level wind patterns that are important to meteorologists are Rossby waves and the jet stream. Rossby waves are significant because they bring cold air south and warm air north, creating a difference in air pressure and wind. These waves develop along the jet stream. Local and Regional Winds In addition to low and upper-level global wind patterns, there are various types of local winds around the world. Land-sea breezes that occur on most coastlines are one example. These winds are caused by the temperature and density differences of air over land versus water but are confined to coastal locations. Mountain-valley breezes are another localized wind pattern. These winds are caused when mountain air cools quickly at night and flows down into valleys. In addition, valley air gains heat quickly during the day and it rises upslope creating afternoon breezes. Some other examples of local winds include Southern California’s warm and dry Santa Ana Winds, the cold and dry mistral wind of France’s Rhà ´ne Valley, the very cold, usually dry bora wind on the eastern coast of the Adriatic Sea, and the Chinook winds in North America. Winds can also occur on a large regional scale. One example of this type of wind would be katabatic winds. These are winds caused by gravity and are sometimes called drainage winds because they drain down a valley or slope when dense, cold air at high elevations flows downhill by gravity. These winds are usually stronger than mountains of katabatic winds are those that blow off of Antarctica and Greenland’s vast ice sheets. The seasonally shifting monsoonal winds found over Southeast Asia, Indonesia, India, northern Australia, and equatorial Africa are another example of regional winds because they are confined to the larger region of the tropics as opposed to just India for example. Whether winds are local, regional, or global, they are an important component to atmospheric circulation and play an important role in human life on Earth as their flow across vast areas is capable of moving weather, pollutants, and other airborne items worldwide.

Career & Personal Development Essay Example | Topics and Well Written Essays - 1250 words

Career & Personal Development - Essay Example One of the areas that have appeared as likely for pursuit of opportunity is human resource. The considerations for being aware of this opportunity stem from personal research through which I have noted the international dimensions of human resource and how motivating and satisfying it is. Thus, this has influenced my future career decisions as I now plan to undertake post graduate studies in peace and international law through which I will be able to take advantage of this opportunity. Decision Learning and Transition Learning Another area that is of importance to career management is decision learning, which Delgado, Phelps and Robins (2011, pp. 101-103) discuss in terms of intransitive choices and their impacts on context-dependent preferences. This is accompanied by transition learning, with the two concepts influencing my personal career ambitions/dreams, the steps I need to take towards them and the way I handle transitions in my career development. This is a continuous process, discernible in terms of transition from general education to making the decisions to specialise in law and study peace/international law in future. I realise that my decision-making and transition management skills are in need of being polished through making them more specific and strategising on how to achieve them. Analysis and Evaluation of learning undertaken The first consideration here is the knowledge I have gained about my skills, abilities, qualities and motivation about my career potential. According to Hom and Folger (2008, p. 2) analysing information about oneself is the first step of effective career management. I have learnt that I have excellent people skills from the way I have undertaken near flawless interaction with individuals during the course. This is complemented by good communication skills, both of which will play a significant role in my career advancement. I am motivated by both monetary and non-monetary factors including appreciation and recognition of efforts, job enrichment and a sense of participation alongside cordial relationships with workmates and superiors. However, commercial awareness is an area in which I was not adequately informed upon in regards to my career planning before undertaking this module. The knowledge gained from labour market input including employer, lectures and resource inputs include the importance of implementing SMART (specific, measurable, achievable, realistic and time-planned) goals and objectives. I have also gained valuable insights about strategic career planning in which planning missions is based on smart objectives which are then used to generate strategies towards meeting these objectives. Knowledge on synchronising short-term, medium and long-term goals in career planning has been indispensable, as well as use of key performance indicators (KPIs) to guide my career development (Patton and MacMahon 2001, p. 76; Coitzee and Roythorne-Jacobs 2007, p. 23). Independent research has also played a crucial part in career management learning. For instance, I was able to appreciate the importance of mentors and career champions in career development through attending fairs and visits to professional functions alongside professional discussions. I backed this knowledge through independent search in literature; for instance, gaining insight that career champions are

Platelet Expression of COX1, IL1 and IL10 Research Proposal

Platelet Expression of COX1, IL1 and IL10 - Research Proposal Example Platelets are approximately 20% of the diameter of the red blood cells. They have proteins on their surfaces that enable them to stick to break in blood vessels. Their count is 150,000-350,000 per every microliter of blood (Andre, 2014). Each megakaryocyte produces an average of 1000-3000 platelets in a lifetime. An un-activated platelet is biconvex and disc-shaped, about 1-3 micrometers. In human beings, the average lifespan of a platelet is 7-10 days; however, the lifespan of an individual platelet is determined by the internal apoptotic regulating pathway (Machlus and Italiano, 2013). Platelets are formed from the cytoplasm of the megakaryocytes which are found in the bone-marrow. The megakaryocytes are approximately 75 micrometers in diameter. The megakaryocytes become polyploidy by endomitosis to assemble and release the platelets. They then mature, where the majority of the cytoplasm is packaged into proplatelets and the nucleus extruded. The platelets form at the tip of the proplatelets (Machlus and Italiano, 2013). The platelet formation is divided into two phases; one where the megakaryocyte mature ad when the megakaryocyte generate the platelets. The whole process takes place approximately in 5 days. During the first phase, the megakaryocyte matures and develops and it requires specific megakaryocyte growth factors. The megakaryocyte’s cytoplasm nuclear proliferates and enlarges as the megakaryocyte is filled with cytoskeletal proteins, platelet-specific granules and a sufficient membrane that completes the platelet assembly. The second phase is short and the megakaryocyte generates platelets by remodeling their cytoplasm into pro-platelets and later into pre-platelets that undergo fission and generate discoid platelets. The second phase may just take place in hours. Cytokines are antibody proteins that are mediators between the cells. Most of the cytokines are

How does diversity of employment affect the welfare(income per person) Dissertation - 2

How does diversity of employment affect the welfare(income per person) in cities of America - Dissertation Example More emphasize should be placed on authenticity of variable like population, age and income of people to attain a reliable result from the research. The sample quantity also should be enhanced to enable a full fledged assessment of the coastal and non- coastal cities as to their contribution to per capital income. Additional independent variable also should be included to get accuracy and efficiency in the statistical models. Also, efforts should be made to cover more population among the cities so as to deliver a believable outcome .It is observed that people in both cities with higher educational level influenced in increasing the average income of the cities.. Finally it can be estimated that more than economic diversity, the educational level and age of individuals have more effect in increasing the per capital income and wealth of a city. Work Cited Khan, M.Y. (2008).Financial services. New Delhi: Tata McGraw Hill.