What’s that noise coming from my wife’s car? How do I crosscheck my son’s algebra homework? How do I make a souffle? Did I install the new ice maker correctly? How do you execute it? And whom do you trust? Meet Askedoo. An exciting new way to learn and share answers with real people, in real time. Unlike similar platforms, such as Periscope and Meerkat, Askedoo is centered on the basis of knowledge-exchange. At its essence, Askedoo connects two types of users: “questioners” and “answerers” via a live streaming interface. Think of it as having a full-time, expert on-hand to answer your most pressing questions, with the added benefit of a step-by-step, live demonstration. Justin Ramb, Askedoo’s founder, firmly believes that every revolutionary idea possesses a common thread of ingenuity, and great ideas often originate out of everyday need. While working on a home project, Ramb consulted various Q&A websites in hopes of finding an answer to a pretty basic question.
What should have been a simple search-and-discovery process quickly turned into an arduous, unreliable one. In that moment, he realized that Q&A sites hadn’t evolved since the earliest days of the Internet. The text-only nature of posing and answering questions, delays in response time, and source reliability in the age of live-streaming opportunities only verified how stagnant today’s Q&A websites have become. The experience planted the seed for the beginnings of Askedoo. Collaborating with a team of skilled designers and experts certified in app development, Ramb conceptualized a refined, systemic process for efficient, interactive problem solving. Using Askedoo, askers simply log into the app using a previously created profile. They post a question or browse questions within a respective channel. Once that question is posted, a “public Askedoo broadcast” begins. This allows the questioner to begin a free, text-based chat with interested experts. When the user sees a comment that is beneficial within the “public Askedoo broadcast,” he may “appreciate” that comment with a high five, which boosts that answerer’s “confidence ratio.” This keeps experts’ comments concise and thoughtful. The opportunities for encouraged engagement within the app are limitless. Askedoo: A community of curious minds and trusted experts. Live stream your questions anywhere, any time.
For this reason, I prefer to focus on the relative size of a company’s potential required contribution compared to the company’s earnings. 5,308M in place of pre-tax earnings, bringing the ratio down to 211%, still in considerable excess of our upper limit. In comparison, we can look at Procter here it is pretty clear that the company’s pension does not create a significant risk. Inflation caused by wage-price spirals can create significant increases in a company’s employment costs. This can occur when employees expect prices to increase, and have the bargaining power to demand corresponding increases in wages. This is more of a problem with a unionized workforce, particularly if there are cost of living increases built into long-term contracts. Whatever the cause of an increase in employment costs, a company will be less affected when total employment costs are a smaller percentage of the company’s pre-tax earnings. Some companies do not disclose total employment costs, so instead we can look at pre-tax profit per employee, with a higher number indicating a lower sensitivity to an increase in employment costs.
As an example, let’s compare Procter and Gamble (PG) with Wal-Mart (WMT). 10,000. Although labor costs are not currently an issue with Wal-Mart’s cost advantage, legislation is currently being considered that will make it easier for employees to form a union. If this legislation were passed, the increased employee bargaining power could pose a threat to Wal-Mart’s cost advantage. Although Procter and Gamble would also be negatively impacted by increased employee bargaining power, the effect would be less than in Wal-Mart’s case for two reasons. First, Procter for example, Valentine’s Day can drive time-based product preferences. Market segmentation based on lifestyle analysis usually approaches the problem by gauging lifestyle according to data that fall into three categories—activities, interests, and opinions. Activities are divided into four parts: work, entertainment, sports, and hobbies. Interests are divided into career, home, family, fashion, and food. Opinions are broken into social issues, education, business, politics, and the future. Along with these variables, demographic factors such as occupation, income, age, education, geography, and the consumer’s stage in the family life cycle are also taken into account.
Depending on the product, variables like gender, sexual orientation, and race or ethnicity may also count as factors for defining market segmentation. The net result of combining all these variables is that you’ll come up with a realistic psychological profile that marks a market segment. This allows you to find populations that share certain common or similar views, feelings, beliefs, and values towards common objects. Once you know what your demographic wants, you’ll be one step closer to creating a competitive marketing strategy. To strategically position yourself in the market, your focus will be on lifestyle market segmentation, targeting, and positioning as key marketing activities that serve as the tools to gain favorable customer orientation. As businesses become more and more aware that their success depends upon their knowledge of consumer behavior, lifestyle segmentation of the market based upon psychographic analysis will gain popularity. Changing lifestyles of the consumer population influence all aspects of modern marketing; lifestyle segmentation makes possible the identification of those new niche markets.