World War I in Canada

World War I in Canada

Tanks were first used at the Battle of Flers-Courcelette, September 1916. The British government sent this Mark IV tank ”Britannia” to Canada in 1917 for the Victory Loan Campaign. Victory Loan bonds offered a 5,5 percent return over five, ten or twenty years. A 50-dollar bond was introduced to encourage wide participation. The government hoped to raise $150 million, but the loan was oversubscribed reaching $398 million. The money was used both for Canadian war production and to provide credit for Allied purchases of wheat and other goods.

British tank Britannia taking part in the Victory Loan Parade on Sherbrooke Street, Montreal. Anonymous, November 19th, 1917. Photograph, Department of National Defense, Library and Archives Canada.

The history of the 163rd Battailion, known as the Poil-aux-Pattes (Narry Paws), is interwined with the story of Olivar Asselin's decision to enlist and raise a battalion of young French Canadians for overseas service. Asselin, one of the founders of the nationalist movement, was devoting considerable energy to the defence of French language rights in Ontario when, on November 15th 1915, he agreed to recruit a new French Canadian battalion. Asselin was a secular, anti-clerical nationalist with a deep love for France. He told a mass meeting at the Monumen National Theater, that the defeat of France “would condemn us her children in North America to drag out henceforth diminished lives.” The 163rd trained in Bermuda before sailing to England where it was disbanded and used for reinforcements.

163rd Batallion.

Recrutement in Québec focused on Montréal. Nineteen infantry battalions, as well as a pioneer battalion, reinforcing companies, artillery regiments and other units sought volunteers. As many as one in three men were rejected for health or fitness reasons, and by mid-1916 there were few men available who were willing to serve.

150th Mont Royal Carabiniers Recruiting Poster. 1914-1915.

Many of Québec's Irish Catholics had intermarried and assimilated with their French-speaking co-religionists, but a thriving Irish Catholic community – 30 000 strong-lived in Montreal, maintaining their identification as Irish Canadians. Concentrated in Pointe-Saint-Charles and Griffintowm they maintained their own parishes, schools and colleges. With the outbreak of war, a new militia regiment, the Irish Canadian Rangers, was organized and in early 1916 it became the core of the 199th overseas battalion. As is evident in the recruiting posters, Irish Montreal supported Home Rule for Ireland, as well as the war effort. After a tour of Ireland and a brief period with the 5th Canadian Division in England, the 199th was disbanded, with officers and men joining the reinforcement stream.

All in One with the Irish Canadian Rangers 199th Overseas Battalion. 1914-1918. Lithograph. Library and Archives Canada, 1983-28-888.

Montreal - Nightlife

Montreal - Nightlife

Walking through Old Montreal's night streets is a real pleasure. So we suggest you look at these beautiful photos and we hope you'll admire these scenes of nightlife in Montreal. 

All the pictures have been taken by Elena:

Our Lady of Montreal Cathedral.

Vauquelin Square by the Montreal city hall.

Jacques-Cartier Place.

A monument on the Place des Armes square.

St. Aimable street.

Flower installation on the Jacques-Cartier Place square.

St.Laurent street

St.Jacques street.

A coffee house in the Old town.

Boutiques at St.Paul street

Ernest Cormier building.

Montreal in deep night

Gates of the Ste.Family Chapel.

St.Jean street.

St.Family Chapel.

St.Paul street

Everyone is sleeping in Old Montreal.

Notre-Dame street.

Marketing Theories

Marketing Theories

If I had asked customers what they wanted, they would have said ‘a faster horse’ – Henry Ford

Almost any introductory level marketing course will start with the explanation of the marketing mix, or the 4Ps, mainly place, promotion, product and price. However, besides this core aspect of the social discipline, professional marketers look at many aspects to promote a business or a non-profit organization, goods and services, or even an idea.

As Crane et al. (2011) explain, the most important questions a producer must answer to be successful is what does the customer want. As a brief reminder, for marketing purposes, need are defined as deprivations of basic necessities, while wants are the form those needs take according to one’s culture and past experiences. Thus, the goal of the marketer is to find out what they are, and then shape the customer’s wants. Typically, a marketing plan must be developed, implementation of which facilitates commercial growth. Also, there are four lines of growth: product development, market penetration, market development and diversification. Diversification, in turn, could be related or unrelated to the industry the organization is currently in. Competitive advantage and points of differences must also be kept in mind. Additionally, Eliaz & Spiegler (2011) write that in modern, given the quasi-infinite number of available alternative, positioning (differentiating a product from those of competitors and influencing how it is perceived by consumers) became even more significant for success. The authors also point out an amazing fact: marketing cannot change consumer preferences, as they are set. One assumes that the statement is not to be understood simplistically, but as related to truths such as impossible need creation (no matter how amazing an advertisement, a bald person will refrain from buying hair conditioner).

Naturally, it is impossible for a company to satisfy everybody. Therefore, the focus should be on the target market or target audience, those customers most likely to be interested by the product offered.

I don’t know the rules of grammar… If you’re trying to persuade people to do something, or buy something, it seems to me you should use their language, the language they use every day, the language in which they think. We try to write in the vernacular. David Ogilvy(1911–1999), British advertising executive. Image: © Elena.

Interestingly, Crane et al. (2011) note that companies have undergone major changes in this century and the last. For example, in the beginning of the 20th century the focus was on production, then it turned to sales, and finally centered more on the market and the customer. The latest development, and the most important of these is believed by many, to be the transition the social media marketing era. Today, most organizations try to develop an online presence of some sorts. Further, popularity of social networking platforms such as Facebook, twitter and MySpace have resulted in a sort of customer based marketing. On these sites, as well as on YouTube, blogs, wikis, podcasts and other resources, individuals can act as remote promoters (or demoters) of brands they like (or dislike). Of course, this new ability at mass broadcast by the public has also created problems for some companies who have less control on commentaries published about them. But there is also a positive side. To illustrate, most software publishers offer tutorials on their websites which both facilitates use of their programs (increasing customer satisfaction) and enhances customer experience (a key point in the new marketing era). Logically, product placement on popular television shown or brand endorsements by celebrities represent additional means corporations possess to advance their offerings.

Given increased emphasis on customers and customer relationships building and management, information became even more important. Countless psychologists and marketers engage in trend research everyday. CRM (Customer Relationship Management) software to keep databases organized has gained prominence, while KM (Knowledge Management) is now a business and management field in its own right. Nonetheless, relationships differ, and purchasing behavior may vary according to state (Kumar et al., 2011).

Regardless of theories, to succeed a product must appeal to customers. For instance, the textbook authors give examples of failed products (such as Coca-Cola’s C2 or Pepsi’s Blue), which went away despite good marketing campaigns because people simply failed to enjoy it.

Obviously, advertising and related activities must be socially responsible. Also, social marketer refers to marketing that is done to promote something that benefits society at large, or at least someone else than the marketer. To illustrate, McKenzie-Mohr (2000) describes how community based social marketing could bring about more ecologically sound behavior, thusly in time, helping the environment. A similar idea was voiced by U.S. Sen. Claire McCaskill Senator on the Daily Show with John Stewart, who proposed resolving national postal service troubles by a campaign glamourizing the written letter. Potentially, one could argue that such a stance likewise constitutes social marketing.

SWOT analysis is widely used in marketing projects. Image: Copyright © Megan Jorgensen. (Elena). The SWOT (Strength, Weakness, Opportunities and Threaths) analysis is a strategic planning technique. According to Wikipedia, it was developed by Albert Humphrey. The first two components represent factors internal to the business, while the last two are external to the firm.

References:

    Crane, F. G., Kerin, R. A., Hartley, S. W. and Rudelius, W. (2011). Marketing, 8th Can. Ed. McGraw-Hill Ryerson: United States of America.

    Eliaz, K. & Spiegler, R. (2011). Consideration sets and competitive marketing. Review of Economic Studies, 78: 235-62.

    Kumar, V., Sriram, S., Luo, A. M. and Chintagunta, P. K. (2011). Assessing the effect of marketing investments in a business marketing context. Marketing Science, [forthcoming]: 1-48.

    McKenzie-Mohr, D. (2000). Promoting sustainable behavior: An introduction to community-based social marketing. Journal of Social Issues, 56 (3): 543-54.

Copyright © 2011 Megan Jorgensen. All rights reserved.

Financial English-German Glossary

Financial English-German Glossary

The present Website or blog contains several articles on economics, business, finance, management and even neuromarketing (a mix of neuroscience and marketing). The following section presents some commonly used financial terms in English, and one variant of their corresponding translation in German.

Financial English-German Glossary

Finanziell Englisch–Deutsch Glossar

Accountant – Buchhalter

Accounting –Buchhaltung

Administration – Betriebswirtschaft

Bank – Bank

Banking – Bankwesen

Bond – Verzinsliches Wertpapier

Bookkeeper – Buchhalter

Business – Geschäft

Buy – Kaufen

Capital – Kapital

Chief Financial Officer (CFO) – Chief Financial Officer (CFO)

Commerce – Handel

Comptroller, Financial Controller – Auditor

Corporation – Gesellschaft

Debt – Schuld

Dividends – Dividenden

Economics – Ökonomie

Economist – Wirtschaftswissenschaftler (auch Ökonom)

FDI (Foreign Direct Investment) – Ausländische Direktinvestitionen

Finance – Finanzen

Goodwill – Geschäfts- oder Firmenwert

Industry – Industrie

Interest – Zins

Investment – Anlage

Investor – Anleger

Loss – Ausfalll

Management – Unternehmensführung

Manufacturer – Fabrikant

Merchandiser – Kaufmann

Money – Geld

Mortgage – Hypothek

Nonprofit Organization – Non-Profit-Organisation (NPO)

Organization – Organisation

Pay – Bezahlen

Portfolio – Aktentasche

Production – Produktion

Profit – Gewinn

Refinancing – Refinanzierung

Sell – Verkaufen

Shares, Stocks – Aktien

Stock Broker – Börsenmakler

Store, Shop – Laden

Tax – Steuer, Besteuerung

Trader –Händler

The basic financial accounting equation:

A = E + L or Assets = Equity + Liabilities

Die grundlegende Finanzbuchhaltung Gleichung:

A = E + P oder Aktiva = Eigenkapital + Passiva

Sunset in Jamaica. Photo by Elena.

Cheap Flying

Do’s and Don’ts of Cheap Flying

Coupons, regional airlines, and “split fares” can save your money

As the editor and publisher of Best Fares magazine, Tom Parsons has been studying the ins and outs of airline pricing and helping travelers fly cheaply since 1983. Here Parsons gives some money-saving tips:

Do:

Search for and use discount coupons. Parsons says that airlines offer 350 to 400 unadvertised and unpublished travel deals every year. Most can be had by redeeming discount coupons that are distributed by retail outlets and with specific products. An example: people who bought three rolls of Kodak film at a Walgreens Drugstore recently could request a mail-in certificate redeemable for four $60-off coupons on American Airlines. This sort of coupon can usually be used during fare wars to further reduce already low prices.

Look into niche and regional airlines. Several small upstart airlines like Tower, ValuJet, Kiwi now offer services between select areas at very low prices. They concentrate on specific pockets, usually only a handful of cities, and discount prices to make up for their lock of name recognition and to encourage passengers to fly the short haul rather than drive.

Take advantage of “split fares”. Surpirsingly, splitting fares may enable a traveler to combine two cheap tickets for much less than the cost of the original single ticket, especially with the aforementioned rise of niche markets. Rather than buying a single ticket from Dallas to Kansas City, for example, Parsons suggests that a consumer look into flying from Dallas to Tulsa, Oklahoma, and then from Tulsa to Kansas City.

Consider flying to and from alternative cities. Some air routes are significantly cheaper than others. If you are willing to make the journey to and from an out-of-the-way airport before and after a long trip, you be able to save big. A one- or two-hour drive, according to Parsons, can take as much as 70 percent off of a single ticket price. Washington, D.C. flyers should consider making the trek to nearby Baltimore, and Chicago flyers should look into flying by way of Milwaukee.

Use cheap flights to get to the most beautiful destinations. Photo by Elena.

Don’t:

Don’t buy tickets immediately. Many discount fares need only be purchased 14 days in advance. Buying sooner may simply mean a loss of future savings. People who buy early can’t get any money back when prices drop. Buy tickets immediately only if you wish to travel during busy holidays like Christmas or New Year’s Day.

Always pick a flight time.  Tell travel and reservation agents that cheap is more important, than, say, arriving at nine in the morning. The relationship between time and cost is not always obvious, so you should inquire about the least expensive times to fly a chosen route – sometimes cost more than others, and some special fares only apply at specific times.

The guy sitting next to you paid less:

The price of an airline seat isn’t locked till the plane leaves the ground. Below is a snapshot of what people paid on a recent American Airlines flight from Miami to New York on take0off0the average fare: $196,89.

Coach: $109,26. Advance purchase, usually with a Saturday stayover. $457 Full fare. $118.06. Group rate for meetings, conventions, or vacation packages.

First Class: Frequent flyers using free tickets. $657 Full fare. Empty seats, $379.83. Upgraded fare for passengers  frequent-flyers upgrade program.

$129.83. Special fare for senior citizens and government and military employees.

Free: Frequent flyers using free tickets. $260.43. Assorted rate for travel agents, contest winners, promotions, and passengers whose tickets were mutilated or could not be identified.

(Source, American Airlines).

 In search of peanut fares: Upstart airlines are making a name for themselves by offering cheap fares on selected routes.

Airsout (hub Columbia, S.C.) Majoir U.S. cities served Atlanta, Jacksonville, Miami, Myrtle Beach, Raleigh Durham, St. Petersburg, Tallahassee.

American Trans Air (hub Indianopolis) Boston, Chicago, Milwaukee, St. Louis

Carnival Air: Doesn’t operate on a hub system. Ft. Lauderdale, Los Angeles, Miami, Newark, New York, Tampa, West Palm Beach.

Frontier: Hub Denver. Alburquerque, El Paso, Fargo, Missoula, Omaha, Las Vegas.

Kiwi International: Hub Newark. Atlanta, Chicago, New York, Orlando, Tampa.

Midway. All flights go through Raleigh-Durham. Boston, Chicago, Fr. Lauderdale, Hartford, Philadelphia, New York, Newark, Orlando, Tamps, Washington, D.C.

Reno Air. Hub: Reno, San Jose. Anchorage, Chicago, Las Vegas, Los Angeles, Phoenix, Portland, San Diego, Seattle, Tucson, Vancouver.

Spirit: Detroit, Atlantic City. Atlantic City, Boston, Ft. Lauderdale, Orlando, St. Petersburg.

Tower Air. Hub New York (JFK). Los Angeles, Miami, New York, San Francisco.

Valujet. Atlanta. Chicago, Columbus, Dallas-Fr. Worth, Detroit, Ft. Lauderdale, Ft. Mayers, Harford, Indianapolis, Jacksonville, Louisville, Memphis, Miami, Nashivlle, New Orleands Oralndo Philadelphia, Raleigh Durham, Savannah, Tampa, Washington, D.C.

(Old News from 1994)