The Philosophy of Knowledge Essay Example | Topics and Well Written Essays - 1000 words

The Philosophy of Knowledge - Essay Example The evolving nature of knowledge can be considered to be a manifestation of its highly unstable nature where it undergoes frequent changes over time. While this may be the case, knowledge is also a means through which cultures are developed and this is done through the transmission of what is believed by a certain society to future generations. When knowledge is compared to truth, it can be suggested that the latter should be able to withstand the test of time and retain its basic truths (Church, 1962, p.322). Such situations tend to be extremely rare considering that the changes in society and the environment often ensure that opinions concerning different aspects of life often change over time. Truth is what human beings hold to be unchanging and this means that it is essential for it to remain constant in order to ensure its credibility (McGarry 2010, p.8). The argument for the constant nature of truth was the belief, before the theory of evolution was developed by Charles Darwin, it was a common belief in Europe that all creation came into being in seven days. This belief was in line with the predominantly Christian biblical teachings that were prevalent in Europe during this age. All these changed with the development of the development of the theory of evolution and it is now considered a fact that all creatures evolved from more primitive forms over millions of years. What remains to be seen is whether the theory of evolution will continue to be considered true knowledge in the near future.

Observation of the day in court Essay Example | Topics and Well Written Essays - 500 words

Observation of the day in court - Essay Example She was careful to ensure that the accused understood his rights and consequences of his positions in the case. In addition to considering legal aspects of the case, the judge was considerate to the accused social issues, and appeared lenient in her directions and judgment. The case was criminal, with Robert White, as the accused and the nature case type identifies the state, represented by the prosecutor, as the other party to the case. In such a case, the burden of proof lies with the prosecutor, who is expected to prove a case beyond reasonable doubt. White was a 35-year old African American from Alabama. He had three children: the eldest being 19 years, a nine year old followed this, and the youngest was 6 months old. White was married and his wife sat next to him. We walked in when he was talking to his attorney, a female, after which he said he would plead guilty of the charges pressed against him. It is most probable that his attorney advised him to plead guilty for plea-bargaining (Scheb & Scheb II 161), or evidence against him could have been overwhelming. White was accused of possession and trade in cocaine, with which he was arrested on August 27, 2013. Undercover officers in Boston common arrested him as he was trying to sell cocaine, worth $ 40, to Cathreen Johnson, an undercover. At the time of his arrest, he was in possession of $ 330, in cash, three cell phones, and a knife. He, therefore, faced charges of unlawful distribution of underlined class B substance (cocaine) and possessing a dangerous weapon (knife). The overwhelming evidence, which also showed witness competence, explains the guilty plea. The judge also demonstrated competence, by ascertaining that White was sure of the charge to which he pleaded guilty, and White affirmed this, respectfully. In addition, the judge also ensured that White was aware of his rights at trial, and she reminded White of consequences of personal testimony, such as forfeited right

ASIC v Adler Essay Example for Free

ASIC v Adler Essay The case of ASIC v Adler is very unique as well as complicated since it involved several breach of duties in the Corporations Act 2001. The HIH collapse was caused by very bad corporate governance. Such breach of duties are, section 9 (director’s duties), section 180 (duty to act with care and diligence), section 181 (duty to act in good faith and for a proper purpose), section 182 (improper use of position), section 182(2) (business judgement rule), section 183 (duty not to improperly use information) and section 260A (financial assistance). All of these contraventions under the Corporations Act 2001 will be discussed in detail below. Section 9 – Who Is A Director And Their Duties Under section 9, a director of a company is defined as a person who is appointed to that position such as a director or alternate director, regardless of what name it is given to that position. Section 9 also includes certain people to be directors even though they are not properly appointed. Such people can act as a director even though without proper appointment of director position. This is where they act in the position of a director (which can be also known as de facto director) or the directors are used to act in accordance with the person’s instructions (which also known as a â€Å"shadow director†). Directors’ duties need to be existed in order to protect shareholders from the risks of directors giving harm towards the company. Shareholders basically have risks such as fraud, where the directors took control over the assets belonging to the company by using it for their personal interest, and mismanagement, whereby directors made an incompetent decision with the financial standing of the company. Furthermore, section 9 also defines the â€Å"officer of a corporation†, which basically includes company executives who held senior positions in the board  level. Such persons can be identified in certain situations where that person (the executives) makes or joins participation into making decisions in which affects the whole or substantial part of the company’s business activities or, the person who has the authority to affect in a significant way towards the company’s financial standings or, basically the same definition of a â€Å"shadow director† where the person are acting towards the instructions given to them to act. In the case of ASIC v Adler, the court held that Adler, the director of HIH, was also an officer of wholly-owned HIH subsidiary which can be related under the section 9 definition of directors. This applies to Adler even though he was not properly appointed as a director or an officer of the subsidiary. Since he has the role of director, the subsidiary holding company and also a member of HIH investment committee, this has showed that he participated in the decision making of the company’s business in which affected it the whole or substantial part of the business. As Santow J gave his judgement on this case, he gave a good summary of principles applicable to directors’ duties. Some of it are; a director must continuously kept informed of the activities of the company, they must be familiar with the fundamentals of the business whereby the company is doing. Section 180 – Duty To Act With Care And Diligence In the section 180(1), it provides that a director or other officer of a company need to exercise their powers and discharge their duties with a standard of care and diligence in which a reasonable person will do if they were the director or officer of a company due to company’s circumstances (section 180(1)(a)) and occupied the office and had the same responsibilities in the company as the director or officer (section 180(1)(b)). Executive directors are full time employees of the company who involved in the day-to-day management of the company. They have special responsibilities with their position and have a high knowledge of daily operations of the company. Non-executive directors, on the other hand, do part-time and have regular involvements in the company. In the case of ASIC v Adler, Williams who was the managing director for HIH and HIHC as well, contravened section 180(1) as he failed to ensure there were proper safeguard before HIHC gave the loan to PEE. Fodera, who was the finance director of HIH, contravened section 180 as he failed to discuss a proposal to give $10 million loan to PEE to the HIH board or its investment committee. As the executive directors of the company, both Fodera and Williams failed to carry out their role properly without informing the HIH board of their intention. Section 180 (2) – The Business Judgement Rule In the section of 180(2), the section provides that a director or any other officer who makes a business judgement rule, will not be held liable in respect of the judgement under the statutory, common law or equitable duties of care and diligence, in which all of the elements can be shown. Such elements are, the judgement was properly made in good faith and for proper purpose, there was not material personal interest in the subject as of the matter of the judgement, the directors and the officers informed themselves about the subject matter of the judgement to the extent they appropriately believed to be reasonable and also the judgement was believed to be in rational in the best interest of the whole company. All of these would be reasonably justified unless any other person in such position thinks that it is completely unreasonable. The business judgement rule basically gives the directors with a â€Å"safe protection† from a personal liability in the relation of the business judgements that they take are valid which is in a good faith and in the best interest of the company. This is because some of their business decisions may turn out to be profit-making or a total loss in honest and rational way. Some of the main reasons for the business judgement rule defences are risk taking and activities in entrepreneurial activities will be encouraged since directors are aware of the specific legislation that if they act honestly,  they will not be punished or personally liable as a result of adverse judicial review. Another rule defence is that better business judgement will be made as a result of removing of some uncertainty of liability under the statutory duty of care and finally, the shareholders interest are better provided by engaging risk taking activities. To make directors be liable for such small erro rs of decision will promote risk-adverse decision-making with contrast effect on the economy. If the directors or other officers are able to satisfy the above requirements, they will have â€Å"safe protection† which makes them to be protected from liability for any breach of their duties of care and diligence. This means that their business judgement in such situations will be reviewed by court. Under section 180(3), the business judgement is defined that any decisions to take or not to take action with respect to matter that is relevant to business activities of the company. This only refers to business decisions that has made relevant to the business activities. It does not include any decisions made in the position of directors powers such as the power to issue shares or pay dividends. By referring to the case ASIC v Adler, the court held that all three Adler, Williams and Fodera breached their statutory duty of care as stated in section 180(1). They also, however could not rely on the business judgement rule as their defence. Firstly for Adler, the business judgement rule did not applicable for him since he cannot satisfy the section 180(2)(b) since he had a conflict of interest in the relation of his decision to invest the $10 million payment from HIHC in PEE. Secondly for Williams, the business judgement rule did not apply to him because of his failed to ensure the correct safeguards were enforced was not business judgement for the purpose in section 180(3). However, even this was a business judgement, since he was a major shareholder of HIH, he basically has material personal interest as in the section 180(2)(b). Other than that, Williams also failed to present any evidence that his judgement was done in good faith for the proper purpose as stated in section 18 0(2)(a). Finally, Fodera cannot rely on his business judgement rule as he failed to refer the transaction of PEE to the HIH board or its investment committee. This was not a business judgement as  stated in section 180(3). Section 181 – Statutory Duty To Act In Good Faith And For A Proper Purpose Under section 181(1), it says that a director or other officer of a corporation to exercise their powers and discharge their duties in bona fide (good faith) for the best interest of the company and also for a proper purpose. The section 181(1) can be contravened if the director thinks that they are actually doing their duties for the best interest of the company in which any other director, in that situation, thinks that is clearly unacceptable approach to do it. This may be happen when a director have a conflict of interest personally with the interest of the company they are handling. In the case of ASIC v Adler, it can clearly be seen that Adler, had contravened the section 181(1) to act in good faith by properly excising his powers and discharging his duties for the best interest of the company. This is because, the transactions that occurred in the HIH, HIHC and PEE had been improperly used, for the sake of his personal interest. Section 182 – Improper Use Of Position Under section 182, the section states that it restricts officers or the employees of a company from improperly using their power to gain advantage for themselves or for any other persons to the company. In the case of ASIC v Adler, the court held that Adler had contravened the section 182 due to the arrangement of $10 million loan from HIHC to PEE which was then to be used to acquire HIH shares on the stock market. This transaction was merely done for the purpose of supporting the HIH shares to increase the price and thereby selling the HIH shares owned by Adler Corporation before PEE could sell off their HIH shares. Because of this transaction, PEE had incurred a total loss of investment by reselling on the HIH shares. In regard of this transaction, Adler was held that he had improperly used his position as a director of HIH, officer of HIHC and director of PEE to gain advantage for the Adler Corporation. The court also held that Williams, also had breached his duties as a director for both HIH and HIHC under section 182, to help gaining advantage for Adler Corporation. This is because Williams, used his position improperly by authorising the $10 million load payment without proper approval from the HIH’s investment committee, which he was required to disclose under the HIH’s investment guidelines. Other than that, the court also held that Adler improperly used his position as a director in the PEE transactions of acquiring a number of unlisted capitals at the cost price from Adler Corporation without obtaining independent valuations of these ventures. With these transactions successful, Adler and Adler Corporation was able to exclude himself from these commercially unviable business operations. Adler basically knew that each of those businesses were having major cash flow problems and each had a significant risk that they would ultimately collapse. Adler, however, failed to disclose his personal interest to the HIH board other than Williams and Fodera. Section 183 – Improper Use of Information As stated in section 183, a person who gets information because they are or are not director, officer or employee of a company, must not misuse the information just to gain advantage for themselves or to any other person whereby causing failure in the company. Section 183 also applies towards resigned or retired directors, officers and employees as well. Informations such as insider information can be taken as an advantage by any person in order to gain benefit by using it to themselves or by giving to other person. In the case of ASIC v Vizard, the court held that Vizard involved in the contravention of section 183, whereby he gained the insider information as he was the non-executive director of Telstra. He misused the information in order to gain advantage for CTI, Brigham and himself as well whereby based on the information that he receives (Telstra board’s decision to acquire  other company and selling their interest on another company), he would act accordingly to buy or sell off his shares ahead of Telstra. S260A – Financial Assistance In section 260A, the section states that it forbids a company financially assisting a person to obtain or acquire shares in the same company of its holding company. However, if some of the conditions are met then the company may proceed to do such transaction. Some of the conditions are, giving the financial assistance will not materially prejudice the interest of the company, its shareholders or the company’s ability to pay its creditors (under section 260A(1)(a)), the financial assistance is validated by the shareholders (under section 260B) or the financial assistance is relieved or exempted (under section 260C). Financial assistance is can be basically referred to where a company is lending money to a person to buy the company shares. This means that the company gives a certain amount of money to a person so that the person buys some of the company’s shares. Another example is where a company gives a surety or guaranteed a person’s loan in which the sum of the loan will be proceeded to buy shares in the company. The company is basically providing a loan to a person for the sake of buying back its own shares off the stock market. Another example is where the company is giving its own assets as a security to a person’s loan in which the loan money will be used to buy the shares of the company given its assets as security. The section 260A clearly states that a company is restricted from giving financial assistance to a person to buy its own shares in the stock market as it will cause material prejudice. By analysing the case of ASIC V Adler, it can be seen that Adler, who was controlling PEE, was clearly contravened the section of 260A by which giving financial assistance to PEE through HIHC, a subsdiary of HIH, which is also a company controlled by Adler. This financial assistance given to PEE, was then used to buy the HIH shares on the stock market. This transaction gives a false impression over the stock market as well as its investors that Adler was supporting the falling share  price of its company, HIH, by buying the shares personally. However, the court found out that Adler does not have the intention to make easy profit and reselling the HIH shares. The real purpose was to increase the HIH share price in benefit of Alder Corporation Limited as substantial shareholding in HIH. The actual evidence is that when PEE went to sell off the HIH shares, it was done only after Adler Corporation decided to sell off its HIH shares in which leads to total loss for PEE’s investment. The Supreme Court of New South Wales held that the main intention of the transaction was that HIHC gave PEE financial assistance in order to acquire the shares in HIH which is HIHC’s holding company. Due to this transaction, according to Santow J, both HIHC and HIH suffered material prejudice, which therefore, contravening section 260A.

Ethical Issues in Randomized Control Trials

Ethical Issues in Randomized Control Trials PROBLEM 1 A research team is conducting a Randomized Control Trial of a new drug to treat the common symptom of the Ebola virus (fever) over the past six (6) months. The experimental group consisted of female Ebola patients aged between 30 and 50 years to whom the new drug was administered. The control group consisted of male Ebola patients aged between 70 and 80 years. To this control group placebo, a substance that resembles medicine superficially and is believed by the patient to be medicine but that has no medicinal value was administered. Discuss ethical issues associated with this research design? Ebola virus disease also as (EVD) is a highly infectious and contaminating disease which has recently killed thousands especially in West African. This disease is a severe and most often fatal illness in humans. The Research design used Randomized Control Trial, however it does not state how it was able calculate the RCT sample size. The years in age of women and men are listed but we do not know how many participants the experiment had. This research conducted random sampling, was the randomization truly â€Å"random,† or are there really are two populations being studied here. It is very difficult to come up with two randomized age groups of men and women. As stated above Ebola is a very dangerous disease and one of the ethical issues in research is that vulnerable groups should not be used unless benefits outweigh the damages, the age group of men between 70-80yrs fall in that category as elderly. This research design would have been giving this vulnerable group a placebo m edicines (dumpy) to this group over a period of 6 months. How many individuals would have been lost to this fatal killer disease? The declaration of Helsinki states that in any medical study, every patient including those of a control group, if any should be assured of the best proven diagnostic and therapeutic method. The controlled group where not assumed of this, placebo control trials are justified when it comes to testing a new product like hair removing creams which has no permanent damage, with severe illness this cannot be acceptable .illness that are fatal and highly contagious when with a placebo control is not justifiable with Ebola because without any medical intervention they will die. The study design also shows large evidence of both allocation and performance bias, in a sense the women that were selection to the intervention group were specifically chosen to be in the intervention group, due to the fact that they will perform better, by facilitating quick and desirab le recovery compared to the elderly men whom their bodies cannot respond with the same efficiency. Lastly some of these elderly men are Husbands, Dads, Granddads, brothers of other people countless family will suffer endlessly over 6 months, whilst their relative is not getting any help at all. What modifications would you suggest on the research design in future? There is never a single way to follow when it comes to research, however they are research design which are more suitable and permit the evidence obtained to answer the initial question as explicitly as possible. In future I would use I would use Time series design. This is due to the fact that Time series design allows each participant to receive an intervention over a period of time and results are measured before and after any intervention. Hence reducing the fatality that are associated with Ebola but also making it less contagious if the medication is being effective. Another change I would introduce is to remove the placebo medication, one cannot be comparing a drug efficiency to a dumpy Placebo, and if it is a new medication then it will have to be compared to other similar drugs to assess its effectiveness instead of nothing, whilst humans are dying and others getting contaminated within that 6 months. Another change would be for the research not to use vulnerable elderly as the control group, hence using adolescent and young adult sample population, since they would give a clearer indication to the efficiency of the new drug. Lastly I would calculate a large enough sample size to increase the findings internal and external validity. Due to Ebola being fatal a sample size would help, by clarifying the total fatalities experience but most important the number of patients cured. PROBLEM 2 One of the leading causes of fast spread of HIV and AIDS in Africa is poverty particularly income poverty that forces unmarried women and girls to indulge in prostitution. In January2005, the IMF/World Bank designed a 10-year micro-finance targeting 1000 prostitutes. The aim of the project was to see a significant drop in the number of women or girls who indulge in this malpractice. To be registered as a beneficiary, interested women and girls were required submitted an application and pay a processing fee of MK500. A total of 2500 applications were received at the close of the deadline. To identify project beneficiaries, it was decided that a lottery be conducted and that all applicants be invited to witness the draw. After selecting the beneficiaries (i.e., treated group), a random draw was also conducted to select non-beneficiaries (i.e., control group). Discuss ethical issues associated with this research design? Acquired immune deficiency syndrome (AIDS). AIDS develops from infection with HIV (human immunodeficiency Virus), which attacks the immune system and disables a person’s defenses against other diseases, including infections and certain cancers. This research used Random selection to find the 1000 participants it wanted to induct into the micro-finance program .Firstly the time frame of the project, the project was meant to run for 10 years and considering that this will have been an observation study design a lot of things can happen within the 10 years, which will affect the internal Validity of the findings. Secondly this Research design asked participants to pay for the application ,a sum of K500 which would total up to K1,250,000 million for the 2500 applicants. Research ethics prohibits payments that can potentially cause pressure, bribes and economic social disadvantages. Therefore many individuals who really need the help would have been excluded, subsequently them havi ng inability to source out the K500.It is also unethical asking money from a poverty group who happens to practice prostitution, they will engage in this malpractice to raise that K500, leading to the project not trying to stop prostitution but encouraging it on the other hand. Research designs have to respect the privacy and confidentiality of participants at all times. Conducting a Lottery where everyone is invited and dividing the treatment and control groups of prostitutes in front of a congregation hampers privacy and confidentiality ethics, this sort of exposure can result into the applicants looked down upon by community members. What modifications would you suggest on the research design in future? When it comes to payments, Research ethics promotes that participants should be suitably compensated for any expenses, compensated for effort, time or lost income, and acknowledged for their contribution.in total this research raised K1,250,000 million. The suitability of this money is not justifiable since IMF bank will actually be spending huge amounts monthly to sustain this project. I would remove this application fee so that its open to every suitable candidate without having financial hinders. The applicants were unmarried women and girls, I think that the focus should have been different since these are different age groups. The women can be put on the micro-financing plan whist the girls can be given a different option to continue on with education and the money directed towards their fees. To expand on that it would be better to teach the participants to fish rather than give them fish every time for 10 years, since when the project stops they will go back and continue with their malpractices (prostitution) .However if you can teach some of the women income generating activities and education for the girls then they will be able to become dependent and stop the prostitution altogether. This is known as transformative participatory monitoring and evaluation. Another change that I would install is the time span of the projects 10 years is a lot of time, I would change the Research design to Randomized Control Trial with Crossover design. This would allow all 2500 participants to partake, thus not having any control groups, but time sequence when they would be receiving the money, hence follow ups can be conducted to what the individuals are capable of with and without benefits. Futuristic speaking, I would change the design of the selecting process of the 2 groups, a Lottery selection were everyone is invited would be cancelled and conduct an expert panel to assess economic, social and health status of the applicants. Decisions would be made and benefici aries awarded to the real needy ones. REFERENCES Kazdin, A.E. (2010).Single-Case Research Designs: Methods for Clinical and Applied Settings, 2nd edition. New York: Oxford University Press. Millum,J Grady C. (2013) The ethics of placebo-controlled trials: methodological justifications.. Contemp Clin Trials.36(2):510-4 Rothman KJ, Michels KB: The continuing unethical use of placebo controls.N Engl J Med331:394–398,1994

Human Resources at John Lewis use labour market information to help :: Human Resources Essays

Human Resources at John Lewis use labour market information to help them with there HR planning Task 3 Human Resources at John Lewis use labour market information to help them with there HR planning. The information allows us to look at local employment trends so they can indicate the availability of labour in certain areas, so they can see whether it is in fact easy or difficult to hire .It also can be used to see whether a large company has made employees redundant which means there will be more workers available with the skills that could be transferable to the job. Local skills shortages is another piece of valid information that Hr department find valuable as they can expand their own training schemes for employees to build up their skills. Hr feel that coming together with fellow companies and employers in the area in which is in a similar industry, can support local schools and colleges so that people can develop their skills early on. Competition for employees is important for Hr to be aware of, as they will want know whether fellow competitors are enlarging the company and will in turn have a larger demand for labour. Human resources use this information inparticualr to overview the level of unemployment within certain regions and areas. Through this there will be a higher availability of labour, and so more people can commute easily the work place. This also depends on the regions statistics, age distribution, attitudes to women working and to the extent to which young people stay at school, college or go to higher education. John Lewis’s Hr department also look at internal labour market statistics to help them develop the business. It is important to overview labour turnover as it allows them to forecast for the future, for if staff turnover is high they must recognise why this is so and then make changes to keep staff. However in some ways companies can take advantage of staff turnover as they can see it as an opening for promotions and fresh ideas from new staff. Yet at the same time losing staff is cost effective to the company as they will lose the skills and retrain new employees. Human resources feel that it is important to keep a record of the companies sickness and accident rates. This means holding records of the companies notified absences, absences due to sickness and unauthorised absences. Through this they can take a statistical analysis and use the information to identify any particular problems with a specific or group of employees. However HR then look at whether absences are due to sickness or are unauthorised.

The Reputation of Othello Essay examples -- Othello essays

The Reputation of Othello  Ã‚        Ã‚  Ã‚   Where in the rankings does this Shakespearean tragedy stand? This essay will explore the answer to this question by considering professional literary commentary.    Francis Ferguson in â€Å"Two Worldviews Echo Each Other† ranks the play Othello quite high among the Bard’s tragedies:    Othello, written in 1604, is one of the masterpieces of Shakespeare’s â€Å"tragic period.† In splendor of language, and in the sheer power of the story, it belongs with the greatest. But some of its admirers find it too savage [. . .]. (131)    Louis B. Wright and Virginia A. LaMar in â€Å"The Engaging Qualities of Othello† maintain that the popularity of this play has been consistent for about 400 years because    it treats emotions that are universal and persistent in human nature. Its characters do not exist on a plane far removed from ordinary life; we are not asked to witness the conflict of kings and conspirators beyond the experience of everyday people; we are not involved in the consequences of disasters on a cosmic scale; what we witness is a struggle between good and evil, the demonstration of love, tenderness, jealousy, and hate in terms that are humanly plausible. (126)    The realistic aspect of the play presents a full range of characters, a full range of emotions, a full range of motivations, a full range of actions – just as are present in real society. The down-to-earth, realistic consideration is very important to Othello’s enduring popularity.    The play is so quotable; consider Desdemona’s opening lines before the Council of Venice: â€Å"My noble father, / I do perceive here a divided duty,† or Othello’s last words: â€Å"Killing myself, to die upon a kiss.† Could the... ...d Nothing.† Essays on Shakespeare. Ed. Gerald Chapman. Princeton, NJ: Princeton University Press, 1965.    Heilman, Robert B. â€Å"The Role We Give Shakespeare.† Essays on Shakespeare. Ed. Gerald Chapman. Princeton, NJ: Princeton University Press, 1965.    Levin, Harry. General Introduction. The Riverside Shakespeare. Ed. G. Blakemore Evans. Boston: Houghton Mifflin Co., 1974.    Shakespeare, William. Othello. In The Electric Shakespeare. Princeton University. 1996. http://www.eiu.edu/~multilit/studyabroad/othello/othello_all.html No line nos.    Wright, Louis B. and Virginia A. LaMar. â€Å"The Engaging Qualities of Othello.† Readings on The Tragedies. Ed. Clarice Swisher. San Diego: Greenhaven Press, 1996. Rpt. from Introduction to The Tragedy of Othello, the Moor of Venice by William Shakespeare. N. p.: Simon and Schuster, Inc., 1957.      

New Product Marketing Plan Essay

In the continuation of the product marketing plan for Tress Express, the completion of the market segmentation will allow for further development of the necessary elements to introduce the product line into today’s market. As such, the detailing of the business’ target market profile key buying behaviors and organizational target markets will shed light on the potential customers and the methods behind their reasoning for seeking out such products. Along with the management of the Product Life Cycle (PLC), as well as the product mix and positioning statement for Tress Express, this second part of the product marketing plan will expand upon elements of marketing. Target Market Profiles Millions of people worldwide are affected by hair loss or thinning. According to Statisticbrian.com (2014), approximately 56 million men and women experience hair loss. Estimates indicate that by the age of 60, 65% of men and 80% of women will experience noticeable hair loss or thinning. Statistics indicate that as men and women age, the likelihood of hair loss increases. For those not affected by thinning or loss will usually experience graying hair over time. Tress Express Products line of emergency cosmetic hair care solutions targets aging adults affected by hair thinning, loss, and graying. Tress Express Products customers are concerned with health, energy, and wellness. They look for quick fixes that provide instant improvement. They are open to new products that save them time, make life easier, and are cost effective. Tress Express Products customers are motivated by their current life stage rather than their age. Service and low-price items are valued by them. They are less sensitive to prestige. If they feel they are purchasing a superior product at a good value they are less price conscious. Product Life Cycle Four stages exist in the product life cycle: introduction, growth, mature, and declining stage (What is Your Product Life Cycle, 2014). Each of the stages consists of action the businesses take to introduce, manufactures, and market the product to consumers. The first stages starts with product development into the consumer market. During the introduction stage, the business launches the product into the market while providing special consideration to pricing, market segmentation, branding, and promotional requirements (What is Your Product Life Cycle, 2014). Growth follows introduction as the second stage to product life cycle. During the growth stage, the company attempts to increase market share by expanding the target audience, increase product awareness, and enter additional markets (What is Your Product Life Cycle, 2014). The third stage consists of maturity. Rick Suttle characterizes maturity as the saturated stage in the product life cycle process. During the maturity stage, the competition for market share becomes fierce. Businesses adopt alternative business strategies such as lowering product prices, adding additional products into the market, or add new features into the existing product (Suttle, 2014). The decline stage completes the product life cycle process. During the decline stage, the product becomes obsolete and irrelevant. The company can either add new features to the product to entice customer to return or discontinue production. The demand for hair loss treatment products has increased over the years. The increasing demand presents an opportunity for a company to introduce a new product into the market. However, introducing a new product into the market presents various challenges for a business especially if the industry has a leading product provider such as Rogaine. The company needs to plan and monitor the life cycle process to ensure product longevity. Following the four stages of product life cycle with special consideration to product, place, price, and promotion provides a guide to ensure a position and sufficient share in the market. Introducing a hair loss product into the market serves a vital role to the company’s success. The plan requires aggressive medical research, testing, and promotion to ensure product meets consumer expectations. The company needs to focus on product differentiation to distinguish the product from its competitors. Furthermore, the company needs to conduct price comparison with leading  competitors to establish the selling price. The price needs to accommodate the targeted consumer in the introduction phase. Furthermore, the promotion of the product requires an aggressive approach by incorporating multi-media means such as social networking, media advertising, and printing. Growing market shares extends the life of the product. The product life cycle characterized growth as the expansion of the product. The company can accomplish growth by either extending product awareness through additional promotional objectives or expanding product qualities. However, the company needs to examine before undertaking endeavors intended to increase growth. The endeavors may increase the cost of the product that will translate to price increase that will have a negative effect to revenues. During the maturity stage the market becomes saturated with other competitors. If the market demands remained constant and suppliers increases, the demand for company’s hair loss product may decrease. During this stage, the company needs to undertake drastic changes in order to prevent decline. The company needs to reinvest on research and development to introduce new products or increase product differentiation. Furthermore, the company needs to increase its consumer reach or lower the price without compromising the quality of the product to gain market advantage over its competitors. The decline stage ends the product life cycle process. During the decline stage, the company re-invents its product to gain any possible momentum. A study of the market also serves vital to determine if the market remain profitable. The company can end its product manufacturing during the decline stage and sells remaining products in preparation for the end. Product Offering Tress Express Products offers low cost emergency cosmetic hair care solutions. Tress Express currently offers three products to combat gray hair. The Gray Blaster Pen, a gray cover up applicator pen, Gray Away Hair Spray conceals thin spots, and Hairline Concealer kit fills in the hairline with the use of makeup brushes and a palette of hair concealer powders. Tress Express is introducing a new hair dye product called Gray Away Henna Dye. Gray Away Henna Dye is an all-natural hair dye that bonds with your hair and specialty herbs condition the hair and scalp. This product will be available in six hair colors. The hair colors will be black, light brown,  red, auburn, blonde, and dark brown. Developing a natural hair dye product, will appeal to the eco-friendly consumers. The branding will be consistent with the current products developed by Tress Express Product to include logo and company tag line. The Gray Away Henna Dye will be packaged in a box featuring the hair color contained within the box. The box will also emphasize the â€Å"All-Natural† tagging. This product is along the lines of competitive or substitute henna dyes on the market, but Tress Express’s henna dye is safe to mix with other colors and nourishes as it colors. No warranties or guarantees will be offered. This product will provide another low cost option to our emergency cosmetic hair care solutions. Positioning Statement and Justification Thinning and balding hair is a natural occurrence that affects both men and women of all ages. Tress Express caters to everyone who faces hair loss challenges. Tress Express is the first choice for emergency hair solutions. Tress Express is positioned as the premier hair emergency solution that provides quick and easy hair balding products that are cost effective. Tress Express hair care products provide the simplest and most cost effective solutions for thinning hair. Tress Express was created to assist both men and women with achieving their best look. With Tress Express anyone can eliminate embarrassment in an instant. Tress Express will help to create a polished impeccable image for all of its customers. With Tress Express in seconds your appearance will make a lasting impression. Tress Express prides itself on restoring a youthful look and boosting confidence through concealing problem spots for both men and women. Our products can help anyone achieve the appearance of full natural looking hair. References Statisticbrian.com 2014. Hair Loss Statistics. Retrieved from http://www.statisticbrain.com/hair- loss-statistics/ Suttle, R. 2014. Four Stages of a Product Life Cycle. Retrieved on November 2, 2014 from: http://www.ehow.com/info_8123597_four-stages-product-life-cycle.html What is Your Product Life Cycle. 2014. Retrieved on November 2, 2014 from: http://www.more-for-small-business.com/product-life-cycle.html