Gems, Jewelry and Diamonds

The history says that India is known for the birthplace for the one of the strongest metals i.e.Diamonds. Initially diamonds were only mined in India and were exported around the globe and were used as a medium of exchange for the commodities until the people knew its actual worth and how much materialist things that they can buy from it. Currently, India produces 33000 carats of rough diamond and more than 800 million of rough and polished cut diamonds. Few of the Major hubs and producers of diamonds in India.Surat is known for largest market of manufacturing of diamonds in India.Mumbai is known for the wholesaler's market and where most of the trading takes place at BKC.Delhi is known for its silver jewelry and its manufacturing. There are many other states like Jaipur, Kolkata, Trichur where we can find the precious metals, synthetic diamond and light weighted jewelry respectively around the states in India. Indian Gems, Jewelry and Diamond IndustryOver the years India has been the greatest manufacturing of cut and polished diamond. The sector contributes to around 16% of the export of the country and 93% around the globe. To add more to it Gems and Jewelry has become the second largest industry in earning foreign currency and Gujarat is one of the largest manufacturers of diamonds around the globe. The Diamond Jewelry market has acquired the growth rate of 6% in India and the size of the industry is approximately Rs.6000 crore. Indian has been successful in achieving these goals in cutting and polishing business is all because of the competitive price and ready to work at a low margin. Moreover, India has developed a specialized skill in polishing large and magnificent stones with fancy cuts which again increase the chances of success. Not only this this but most of the small-scale business have introduced high end machinery from which now they can get the best product from a raw or a polish diamond. The Gold demand that the Indian market has rose from 9.13 % to 726.9 tones in 2017. As per the recent records it suggested that India has imported approximately $29 billion during the previous year. To Conclude, India has grown to become such a successful market that countries and companies are now insisting their diamonds to be manufactured in India.Industry Structure in IndiaGems ; JewelryDiamond Jewelry Precious StoneCut ; Polished Gold PearlRough Precious Metal Color Gem Stone Costume/ Fashion Synthetic Stone Market Segment The diamond market has three segments:1. Industrial Diamond: Under this there are all the natural and synthetic diamonds that are manufactured in the industry. It comprises of 25% of the total. Jewelry Diamond: All the assembled products such as the ready-made jewelry and gemstones are categorized under this section. It comprises of 15% of the total.3. Investment Diamond: it comprises of both the rough stones which are very expensive. It comprises of 60% of the total.Market OverviewEvery year 124 million carats of rough diamonds are being mined by Alrosa, BHP Billiton, De Beers, etc. The market value of these diamond is around $15 billion. Moreover, there has been a significant improvement in the growth by 31%.India has considered to be the largest exporter in gems and jewelry and to our knowledge the industry has played a very important role in Indian economy as it contributes a large part in the foreign reserves of the country. Other then, India, USA, Russia, China, Belgium, Hong Kong are few of the world's biggest dealers in the diamonds.Export of Gems and Jewelry IndustryIf we see analysis the data we can see that, the net export of the industries gems and jewelry has shown rise of 7.06 % in the annual growth rate. During the previous year the overall net exports were $35.51 billion and has reduced slightly in the current and will surely rise. Notes: * – Data from April-February 2018, CAGR – Compound Annual Growth Rate till FY 2017.Source: GJEPC, Media sources.Import of Gems and JewelryIndia is also of the largest importer of gems and jewelry as well. If we see in the figures the India's total rose from $11.63 billion to $42.72 billion from the years 2005 to 2012 respectively and since then it has shown a gradual set back during the next year. Again, the market has also gained strength after the fall from $42.72 million to $24 million and now covering back by $28.78 million during the previous years. Notes: * – Data from April-February 2018, CAGR – Compound Annual Growth Rate till FY 2017.  Source: GJEPC  Government Incentives and Strategies Developed by CompaniesThe Government has introduced the Pradhan Mantri Kaushal Kendras which will help create skill and provide labor. Moreover, it will provide vocational training to the engaged peoples who are getting training in it. The Make in India initiative will boost the exports and it will provide critical regulatory framework for the proposal Special Notified Zone(SNZs). However, it will also benefit the small-scale businesses (SMEs) that are involved with the industry. The government has proposed to cut down the tax to 25% for the micro and small-scale enterprises which was announced in the recent Union Budget. The government has permitted 100% FDI. After the booming of the ecommerce, many companies have started selling their jewelry online. Not only this but, many companies have tied up with the Amazon to sell their product online at discount. Companies also have provided buy-back option to the customer if they dislike the product but I think there are still terms and conditions to be stringent so that it will ease the procedure.Few of the Key Players in the Indian market are Tanishq, Malabar Gold ; Diamond, Gitanjali, Nirav Modi, PCJ, TBZ, Kalyan, Venus Jewels.

Fahrenheit 451 - Censorship and Technology - Free Essay Example

Sample details Pages: 1 Words: 377 Downloads: 1 Date added: 2019/04/10 Category Literature Essay Level High school Tags: Fahrenheit 451 Essay Ray Bradbury Essay Did you like this example? Censorship and technology are some of Fahrenheit 451s most important themes. A Burning book as a form of censorship has been around for a long time. Fear of exposing people to information that is considered dangerous is associated with repressive regimes by controlling citizens access to ideas governments can control the people. Don’t waste time! Our writers will create an original "Fahrenheit 451 Censorship and Technology" essay for you Create order Technology is also used by the government to censor and control their citizens TV distracts people disheartening them from having their own thoughts it encourages people to connect with electronics rather than other people. Real human connection is replaced with fabricated ones like Mildreds TV family. will you turn the parlor off? he asked. That is my family (46). In Fahrenheit 451 people seem to have lost all touch with reality that they have forgotten what it means to be alive. Mrs. Phelps cries when Montag reads the poem because she hears emotion in his words. One of the points made by society in removing all literature and substitute it with tech which gave no room to think and proces the death of her second and third husbands. When Montag turned the TV off and asked Mrs. Phelps about her husband Mr. Phelps she was getting unsure of her husbands safety. he said if I get killed off, you just go right ahead and dont cry, but get married again, dont think of me. (91)In conclusion Bradburys main point is the creation of a mass culture, as technology got more progressed the world got smaller and minority voices got louder. So, a super PC culture was created to keep anyone for telling the truth that some other person could not handle. Captain Beatty says, we stand against the small tide of those who want to make everyone unhappy with conflicting theory and thought (59). But it is not only the government that is to blame. Ray Bradbury reprimands how Americans always want things to be simple and positive. Most people think with better technology comes more connected society. But Bradbury is saying that just because we have the best technology it isnt going to bring us closer to each other. Maybe technology is not the problem, but a poor solution to escape from this harsh reality of not living up to societys expectations, and the fear of failing.

Quiz Review Essay - 1177 Words

1. Who are the first, second, and third parties in healthcare situations? The first party is the patient himself or herself or the person, such as a parent, responsible for the patient’s health bill. The second party, often called providers is the physician, clinic, hospital, nursing home, or the healthcare entity rendering the care. The third party is the payer, and uninvolved insurance company or health agency that pays the physician, clinic, or other secondary party provider for the care or services rendered to the first party. 2. Compare the UCR and the CPR payment systems. The usual, customary, and reasonable (UCR) is one version of discounted fee-for-service payment method. The UCR is a type of fee-for-service payment method in†¦show more content†¦6. How do third-party payers set per diem payment rates? The insurance companies would compare historical data. Without historical data they would consider the costs, volumes of service, patient severity of illnesses, and the patients’ lengths of stay. 7. Describe the major benefits of episode-of-care reimbursement according to its advocates and the major concerns about episode-of-care reimbursement expressed by his critics. The benefits of episode of care reimbursement are the saving costs from unnecessary procedures, duplicating laboratory work, and loss reports. The concerns are denying, delaying, and or substituting diagnostic, laboratory, test and treatments for less quality procedures. 8. Why is the federal government a dominant player in the healthcare sector? The healthcare sector of the federal government covers programs for senior citizens, people with disabilities through Medicare, two thirds of the cost of joint state-federal Medicaid programs, which provides health reimbursement services for low income persons and families, and includes healthcare services for a variety of populaces including active duty and retired military personnel among others. 9. Why is the constant trend of increased national spending on healthcare a concern? Because money is a limited resource, infrastructures will have less money due toShow MoreRelatedQuiz Results - Basic Institutional Review Board (Irb) Regulations and Review Process658 Words   |  3 PagesQuiz Results - Basic Institutional Review Board (IRB) Regulations and Review Process You correctly answered 3 of 5 and received 3 of 5 possible points. Scroll down to review the quiz questions and the explanation of the answers. Question 1 Question  : | A subject in a clinical research trial experiences a serious, unanticipated adverse drug experience. How should the investigator proceed, with respect to the IRB, after the discovery of the adverse event occurrence? | Your answer  : | ReportRead MoreThe On The Surface Level1778 Words   |  8 Pagesthe instructor are true for the student gamer as well. Students would be able to not only create review tools for themselves, yet they would be able to share their games with their peers and collectively learn and retain information digitally and in real time. They may also learn concepts of instructional design by disseminating what information should be relevant for their study needs and apply it to quiz game instruction. Along with substantial internet support through their website, the precedingRead MoreEssay on Microeconomics Quiz Review2103 Words   |  9 PagesChapter 9 1. All firms, no matter what type of firm structure they are producing in, make their production decisions based on where: marginal revenue equals marginal costs. 2. According to the table below, when profits are maximized, profits are equal to: $2. 3. Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm discovers a technology that makes their wheat taste better and have fewer calories than all other wheatRead MoreGlo-Bus Statistical Review Quiz 1 Essay1923 Words   |  8 PagesGLO-BUS Statistical Review QUIZ 1 Click below link for Answer CLICK HERE http://workbank247.com/q/glo-bus-statistical-review-quiz-1-all-correct-answ/24761 1) The company maintains a production facility in a. Japan b. The United States c. China d. German e. Taiwan 2) The company’s shipment of digital cameras to retailers in various foreign countries are subject to f. All these g. Export fees equal to $20 per camera and exchange rateRead MoreArmy Boards, Adp 1, Review and Quiz807 Words   |  4 Pageschange to any subject area. The proposal will then be considered | 11. What is the purpose of abbreviations and acronyms in the profession of arms? | The purpose of abbreviations and acronyms is for ease of use in speaking and writing. | * QUIZ: Army Doctrine Publication 1-02 Operational Terms and Military Symbols 1. What is the purpose of common operational terms? a. Communicate a great deal of information with a simple word or phrase. b. 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Circle the correct multiple choice answer; or check (ïÆ'â€") the correct answer for True or False statements 1. When the human resources function creates a unique capability in a firm that creates high value and differentiates the organization from its competition, human resourcesRead MoreComm 215 Syllabus Essay1466 Words   |  6 Pagesand analytical writing while using the writing process and specific rhetorical strategies to develop position and persuasion essays and a case study analysis, and learning teams will prepare an applied research paper. The course offers exercises for review of the elements of grammar, mechanics, style, citation, and proper documentation. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: Read MoreEcon 2301 Study Guide1079 Words   |  5 Pagesâ€Å"Parts† as indicated by the course calendar and summarized here: - Part 1: Chapters 1-4 - Part 2: Chapters 5-9 - Part 3: Chapters 10-14 Course Evaluation / Grading System There will be a quiz at the start of each chapter and an exam at the end of each Part. You will earn four (4) scores: three exam scores and one quiz score (based upon the sum of points earned on quizzes throughout the semester). Each student’s lowest score will be automatically dropped, and the remaining three (3) scores will be averagedRead MoreMonopoly and Discussion Board Posts1554 Words   |  7 Pages * fresh green beans * gasoline * In your analysis, please make sure to explain your reasoning and relate your answers to the characteristics of the determinants of the price elasticity of demand. 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Veteran Mental Illness and System Justification Theory

Veteran Mental Illness and System Justification Theory Rates of mental illness are rising among Veterans returning from Iraq and Afghanistan. This social problem has had significant consequences, such as spikes in homelessness, unemployment and suicides in this population. Many argue there are too many barriers to mental health treatment in a society that stigmatizes mental illness and undervalues mental health care. Research supports this assertion, particularly within the Veteran population (Greene-Shortridge, Britt, Castro, 2007). System justification theory offers an explanation for why society stigmatizes mental illness in spite of the devastating consequences of treatment underutilization. As noted previously, system justification†¦show more content†¦It also cannot explain why society does not blame Veterans for their mental health problems. One possibility is that Veterans, even those with mental illness, are considered to be an advantaged group. Therefore, their suffering challenges the status quo and requires intervention. However, this argument is weak because it cannot explain why Veterans are stigmatized at all. Finally, the theory presumes that society values the status quo, so it cannot explain why a society might embroil itself in a long war. Veteran Mental Illness and Social Conflict Theory Most argue that rising rates of Veteran mental illness are a result of treatment access issues. As noted above, stigma around mental illness not only leads society to underfund mental health care, but it also prevents the mentally ill from seeking treatment. However, others have argued that stigma merely exacerbates a problem that is caused by something much larger: war itself. Jones (2013) maintains that war permanently changes those it touches, including soldiers and civilians. She suggests the mental health crisis among returning Veterans should be attributed to the lasting effects of combat exposure. War is easily explained through the lens of social conflict theory, a sociological theory that suggests society tends toward conflict because it is made up of groups with competing interests and unequal resources. The theory proposes that aShow MoreRelatedThe Advancement Of Medicine And Technology1599 Words   |  7 Pagesthat live w ith horrifying illnesses, death does not always seem to be the worst idea. Depression and other mental illnesses are known to drive victims into high stress situations and eventually suicide. Over 30,000 people in the United States die annually because of suicide, and considering ninety percent of those deaths have direct ties to mental illness; research must be done to fight mental diseases (NIH). Although first developed in 1938, electroconvulsive therapy remained too dangerous for scientistsRead MorePersonal Experience Of Science2166 Words   |  9 Pagesa sense that there was something more to be had than the rational present. 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Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagespublishing as Prentice Hall. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproductio n, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions DepartmentRead MoreOverview of Hrm93778 Words   |  376 Pagesand selection) †¢ Human resource development †¢ Compensation and benefits †¢ Safety and health †¢ Employee and labor relations †¢ Records maintaining, etc. †¢ HR research (providing a HR information base, designing and implementing employee communication system). †¢ Interrelationship of HR functions. A. 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Pre Revolutionary War Attitudes Free Essays

By the 1750’s, Americans began to query their involvement with the British Empire by establishing their own identity and unity as Americans. The colonist began to see a strong display of British oppression. Taxes and the different Acts, such as the Intolerable Acts caused the colonists to believe that it would be better if they were separated from their mother country. We will write a custom essay sample on Pre Revolutionary War Attitudes or any similar topic only for you Order Now Colonists also felt that some of their rights and liberties were being taken away by the British Empire. By the eve of the revolution colonist had a sense of identity of an American. America became the melting pot of the world. Colonist began to think of themselves as a new race of men (Document H). Colonist slowly dismissed their ancient dispositions and demeanor and accommodated new ones (Document H). With a natural barrier (the ocean) between Great Britain and America, colonist started to think of the colonies as a separate nation (Document B). The ocean caused the colonist to believe that they were separated from the mother land for a reason (Document B). They believed that the ocean was there to prevent the colonies from blending with Great Britain (Document B). Since colonists were separated from Great Britain they considered having their own congress (Document D). The colonist would rather have three thousand people who is living near them and who can see the problems they are facing govern them rather than have one person govern them that isn’t there and doesn’t know what’s going on in the area the colonist are located at (Document D). Another act of identity is show in 1774 and 1775 (Document G). During those years Boston wasn’t relying on Great Britain to provide them with donations of goods, such as food, animals, or money (Document G). This illustrates that the colonies don’t need to confide on Great Britain and they can depend on the other colonies alternatively. Throughout these events it is evident that the colonists are displaying a sense of identity. Before the revolution, the colonist displayed many acts of unity. In 1754, a picture of a cut up snake was posted in the Pennsylvania Gazette (Document A). Benjamin Franklin once said, â€Å"If not united to form a whole snake, then the snake cannot survive†. The picture displayed that if the colonies do not come together as one united nation, it is possible that the different colonies could perish (Document A). This picture could have motivated the colonies to act as one nation. In 1774, it was said that a very small corrupted Junto, a self appointed committee in New York acknowledged the idea that all of North America was united (Document C). The Junto also acknowledged that North America was determined to defend their rights and liberties endlessly against Great Britain (Document C). On July 6, 1775, the representatives of the United Colonies of North America met in Congress at Philadelphia to talk about going to war (Document E). Colonists were daring to start rebellions and resist their authority to preserve their liberties (Document E). The representatives were under the impression that all the colonist had the same state of mind. They thought that they would rather die as freemen rather than like slaves (Document E). Another unifying act of the colonies was when many of the colonies donated food, animals, money, and etc to Boston in 1774 and 1775 (Document G). The colonies donated goods due to the Intolerable Acts, when the British closed the Boston ports. This illustrates that the colonist were willing to come and work together to help other colonies in need. Throughout these events it is evident that the colonists are displaying a sense of unity. Throughout history there has been many acts of Americans developing a sense of identity and unifying as one nation. Americans were very devoted to making sure they were not taken advantage of by Great Britain. Although Americans had to fight for their independence and their liberties they were able to push and break free from the British Empire. How to cite Pre Revolutionary War Attitudes, Essay examples

Palpitation Traditional And Modern Medicine -Myassignmenthelp.Com

Question: Discuss About The Palpitation Traditional And Modern Medicine? Answer: Introduction Chemotherapy is the treatment that involves medication and combination of medications for treating cancer, whose mechanism of action prevents the abnormal cell growth by inhibiting the microtubule function, DNA synthesis and protein function (von Minckwitz et al., 2012). The cytotoxic chemotherapy can be cell dependant, arresting the growth of the cancer cells at the specific phases of the cell cycle. There are several therapies that target the pathway such as the Alkylating agents, Anti-metabolites, Anti-microtubule agents, antitumor antibiotics and Topoisomerase II inhibitors (von Minckwitz et al., 2012). The chemotherapy given after the radiation or the surgery is called the adjuvant chemotherapy, it destroys any cancer cells left in the body after the surgery and the chemotherapy applied before the surgery is known as the neo-adjuvant therapy. In this therapy the tumor is shrinked for making removing it easily surgically(von Minckwitz et al., 2012). Palpitation Palpitation is the rapid, strong and irregular heartbeat caused due to stress, exercise, medications, strong emotional responses, anxiety, panic attacks, and hormonal changes. Heart palpitation can be a sign of clinical problems like hypothyroidism, arrhythmia, tachycardia, bradycardia and irregular heart rhythm. Palpitation may lead to cardiac arrest, stroke, and heart failure (Ershadifar et al., 2014). Percussion It is an assessment technique that produces sound by the physician tapping on the chest wall of the patient. Tapping on the wall of the patient's chest can produce sounds based on the amount of air present in the lungs. It is mainly done for determining the size, borders and the consistency of the body organs, the absence or the presence of fluid in body areas (Osadnik et al., 2012). References Ershadifar, T., Minaiee, B., Gharooni, M., Isfahani, M. M., Nasrabadi, A. N., Nazem, E., ... Saleh, D. K. (2014). Heart palpitation from traditional and modern medicine perspectives. Iranian Red Crescent Medical Journal, 16(2). Osadnik, C. R., McDonald, C. F., Jones, A. P., Holland, A. E. (2012). Airway clearance techniques for chronic obstructive pulmonary disease. Cochrane Database of Systematic Reviews, 3. Scher, H. I., Fizazi, K., Saad, F., Taplin, M. E., Sternberg, C. N., Miller, K., ... Armstrong, A. J. (2012). Increased survival with enzalutamide in prostate cancer after chemotherapy. New England Journal of Medicine, 367(13), 1187-1197. von Minckwitz, G., Untch, M., Blohmer, J. U., Costa, S. D., Eidtmann, H., Fasching, P. A., ... Jackisch, C. (2012). Definition and impact of pathologic complete response on prognosis after neoadjuvant chemotherapy in various intrinsic breast cancer subtypes. Journal of clinical oncology, 30(15), 1796-1804.

The Effectiveness of Loyalty Programs

A loyalty program is a specific marketing strategy which is used within the global market to attract more profitable customers and enhance the level of the organization’s income. Organizations usually offer reward cards or loyalty cards, flyers, and discounts in order to establish the long-term relations with loyal customers.Advertising We will write a custom proposal sample on The Effectiveness of Loyalty Programs specifically for you for only $16.05 $11/page Learn More Loyalty programs are oriented toward the stimulation of the customer’s buying behavior with the help of the rewards and bonuses proposed (Dekay, Toh, Raven, 2009). From this point, the loyalty program is one of the oldest marketing strategies which are used in the global economy during a long period of time. History of Loyalty Programs The first usages of loyalty programs are associated with the development of strategic management principles within organizations. That is w hy, loyalty programs are directly connected with loyalty marketing. The noticeable start of using the principles of loyalty within the hospitality industry is typical for the 1980s with the further intensive development of the tendency in the 1990s. However, the aspects of the modern loyalty programs are also characteristic for the marketing in the 18th – 19th centuries when the first premiums and prizes were proposed to affect the customers’ loyalty (Yi Jeon, 2003). Premiums as the most typical forms of the loyalty programs were used in the business environment also along with prizes, trading stamps, discounts, and box tops. If premiums can provide significant discounts for customers in order to guarantee their next usage of the product or service, prizes are the small gifts which evoke the target audience’s interest in buying this or that product or using the definite service. According to Voss and Seiders, there are many possible variants of prizes that reta ilers use to create the customer loyalty. During the first stages of the marketing development, cigarette cards and other trading cards were proposed to customers in order to create the loyal relations and make them purchase the certain product. During different periods, the modern food packaging and other prize strategies were proposed to attract customers (Voss Seiders, 2003).Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The hospitality industry is one of the most competitive industries in the word. That is why the usage of the loyalty programs can be observed within the market since the early 1980s. To win within the highly competitive market, hotels are inclined to use different loyalty programs and combine them with references to the group of customers. The typical feature of using the loyalty programs in the hospitality industry is the focus on attracting new customers (Berman, 2006). That is why, much attention is paid to the development of loyalty strategies which are used to work with customers when they utilize the services of the hotel for the first time (Yi Jeon, 2003). As a result, the system of bonuses and rewards is constantly developed in the hotel chains globally. During the 1990s, the strategy of direct mailing was worked out in order to strengthen the current relations with customers and contribute to creating the group of the profitable customers. Thus, the customers who are involved in the loyalty programs are the profitable customers, and hotel managers pay much attention to working with these clients in order to increase the profits and guarantee the further returns. To respond to the changes in the business environment and enhance the quality performance among individuals, the principles of direct marketing and direct mailing were developed. The next stages were the usage of the mail order catalogue and the involvement of the media in t he direct marketing (Berman, 2006). The evolution of premiums and prizes and the contributions of the pioneers of direct marketing have led to the establishment of the modern loyalty programs used by organizations within the hospitality industry to attract potential customers and maintain the existing profitable clients. The introduction of present modern loyalty programs such as card linked offers, consolidated loyalty programs, and frequent flyers is based on the achievements within the market and analysis of the most effective strategies to stimulate the customers’ loyalty (Yi Jeon, 2003).Advertising We will write a custom proposal sample on The Effectiveness of Loyalty Programs specifically for you for only $16.05 $11/page Learn More The Effectiveness of Loyalty Programs Business organizations are traditionally oriented to the profit maximization. However, organizations cannot maximize profits without focusing on the intense competition with other companies within the industry. From this perspective, the usage of loyalty programs as a marketing strategy is important for companies to accentuate the definite advantages of the company, to help customers distinguish between different representatives of the same industry, and to make choice which is beneficial for the certain company. Thus, hotels are inclined to propose various loyalty programs in order to attract the definite social categories and improve the customers’ brand loyalty. Many researchers are inclined to agree that loyalty programs are the necessary and effective strategies to be implemented in the hospitality industry because they are the successful variant to draw the customers’ attention to the positive features and emphasize the real advantages for them (Dekay, Toh, Raven, 2009). The accents on the advantages in the form of rewards and discounts for customers are the direct way to contribute to the customer loyalty in relation to the defini te hotel and increase the company’s profits basing on the long-term relations. The loyalty programs which are effective to establish the profitable relations with customers can be divided into several types. A loyalty program with a saving feature enables customers to receive rewards after spending a certain amount of money while using the hotel services. The organization can use this program to create customer loyalty and increase purchases (Berman, 2006). Thu, the program encourages the constant use of a loyalty card. Furthermore, this method supports the customer awareness of the services provided. The program also enables an organization to determine the product preferences and focus on the customer relationship status with the company.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Hotels and other organizations within the hospitality market offer price promotions to customers on definite products and services. This feature can provoke the customer buying behavior and make several customers join the loyalty program provided by a company in order to become members and enjoy the proposed and promoted benefits. These programs can enhance the customer loyalty directly. Moreover, this strategy enables an organization to obtain and pay attention to specific personal responses (Bolton, Lemon, Verhoef, 2004). Direct mailing is also an effective marketing strategy used by hotels in order to address the needs of customers at the personal level with concentrating on their personal expectations. This is a method that an organization can use as a personal treatment for customers, and it can enhance the personal customer loyalty. Receiving the individual response, the company can improve services and the provision of products with references to the customers’ desire s and expectations. Factors that Attract People to Loyalty Programs and Staying at Hotels during a Longer Period of Time The factors which can attract people to loyalty programs and affect their customer loyalty are associated with the types of the programs proposed. Those loyalty programs that are based on savings enable customers to save for the future use of this definite service or product. This proposition is interesting for those clients who have to use the hotels services in the definite region frequently or during a long period of time. Moreover, these loyalty programs attract customers to the respective organizations and famous hotel chains because they can redeem their points and use them to purchase. However, the saving culture is an aspect that the most consumers evaluate, but they can find it difficult to practice, and the detailed loyalty programs proposed in hotels provide customers with the opportunity to use all the benefits of the program fully (Bolton, Lemon, Ver hoef, 2004). Thus, consumers are able to save their money by joining loyalty programs. Loyalty programs which are associated with promotions can be based on the propositions of the lower prices or discounts to use definite services. Customers are mainly inclined to buying affordable, but high-quality products (McCall Voorhees, 2010). Reduced prices and discounts can increase the purchasing power of consumers and stimulate their general buying behavior. Promotions are easily accessible to consumers under loyalty programs provided by hotels (Bolton, Lemon, Verhoef, 2004). Furthermore, it is advantageous for the hotel when the concern and preferences of individual consumers are addressed by organizations basing on the response which they receive (Wansink, 2003). This strategy also enables an organization to pay more attention to the comfort and interests of the clients. As a result, observing the positive attitude and a range of rewards provided, customers can decide to spend more ti me in a hotel or choose this hotel during the next journeys. Moreover, the individuals should have the opportunity to contact companies and hotels directly, if they are subscribed to the definite loyalty program. The customer’s interest in the services increases (Bolton, Lemon, Verhoef, 2004). Thus, individuals are attracted to the loyalty programs because this enables them to communicate their concerns directly to an organization and receive the feedback directly from the company. When customers are provided with a large set of loyalty rewards which are connected with the definite terms they can be oriented to use more guaranteed services at a time. Moreover, customers are often provided with the greater discounts proposed for the next comings and for the further usage of the hotel’s services (Wansink, 2003). This situation makes customers choose the definite hotel and stay there to use all the proposed benefits which are stated in relation to the developed loyalty p rograms. Challenges that Hospitality Industry Faces in Relation to Loyalty Programs The loyalty programs can be used ineffectively in relation to certain industries due to the nature of business, products, and services offered by companies. There are several challenges that organizations in the hospitality industry face in the process of developing and implementing a loyalty program to establish the customer loyalty and stimulate the buying behavior. The most common challenges are the irregular patterns of demand, the dynamic nature of the industry, and the lack of an appropriate program, the imbalance between the costs and outcomes of the loyalty program used (Wansink, 2003). The hospitality industry can face a challenge of the irregular demand pattern depending on the season factor or the region of the hotel’s location. It is rather difficult to establish an effective loyalty program due to the irregular demand patterns and the seasonal character of business. Providing the definite rewards and bonuses for customers, the hotel managers should take into consideration the fact of the season when the proposed rewards or premiums can be used. Wansink states that it is rather difficult to develop the effective loyalty program, concentrating on its possible outcomes from all the perspectives (Wansink, 2003). Thus, the dynamic nature and highly competitive atmosphere of the industry makes hotel managers create more effective loyalty programs which can satisfy the needs of the majority of clients and which can attract new customers. The focus on the loyal and profitable customers remains unchanged for the hospitality industry without references to the season or the industry tendencies. Moreover, considering the irregular demand patterns, organizations in the hospitality industry are not able to decide on an appropriate loyalty program to adopt. According to Berman, this situation often leads to changes in programs, therefore, confusing consumers (Berman, 2006) . The nature of services in the industry makes it difficult for organizations to develop effective loyalty programs also because costs of the loyalty programs are often higher than the real results. Some loyalty programs are highly costly, but they are not effective enough to attarct more customers (Berman, 2006). References Berman, B. (2006). Developing an effective customer loyalty program. California Management Review, 49(1), 123-148. Bolton, R. N., Lemon, K. N., Verhoef, P. C. (2004). The theoretical underpinnings of customer asset management: A framework and propositions for future research. Journal of the Academy of Marketing Science, 32(3), 1-20. Dekay, F., Toh, R., Raven, P. (2009). Loyalty programs: Airlines outdo hotels. Cornell Hospitality Quarterly, 50(3), 371-390. McCall, M., Voorhees, C. (2010). The drivers of loyalty program success: An organizational framework and research agenda. Cornell Hospitality Quarterly, 35(1), 35-52. Voss, G. B., Seiders, K. (2003). Explo ring the effects of retail sector and firm characteristics on retail price promotion strategy. Journal of Retailing, 79(2), 37-52. Wansink, B. (2003). Developing a cost-effective brand loyalty program. Journal of Advertising Research, 43(3), 301-309. Yi, Y., Jeon, H. (2003). Effects of loyalty programs on value perception, program loyalty and brand loyalty. Journal of the Academy of Marketing Science, 31(3), 229-240. This proposal on The Effectiveness of Loyalty Programs was written and submitted by user Al1a to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.