Market Growth And Competitive Positioning Growth Strategies

Market Growth And Competitive Positioning Growth Strategies Nobody plans to fail but fails to plan. Marketing Planning is the first and foremost activity that a company should perform before embarking on a mission such as launching a new product into the market or revamp of existing product line. Not just in the case of new product launch, but also marketing planning provides a strategic direction to the company in terms of increasing the market share, building brand value and thus obtain increased revenues. 1.1 SOSTAC Model SOSTAC is a renowned model in marketing planning which is widely followed across several industries. It is also claimed to be the most powerful technique of in helping the companies to plan their marketing process. SOSTAC stands for Situation Analysis, Objective Analysis, Strategy, Tactics, Action and Control. Situation Analysis helps visualize the internal and external factors that affect the company which prevail at a given time. This analysis mainly comprises of employing SWOT technique to understand the situation at company level and also PESTLE technique to analyse the global environment which impacts the industry in which the company is operating. By carrying out this analysis, the company can get a snap shot of the current situation which will help the managers to take necessary actions to take advantage of the situation. Elements such as performance, competitors and customers are analysed in this stage. Objective Analysis will provide a clear path to the company in terms of the revenues and sales targets that should be achieved in a stipulated time limit to obtain the desired market share. The main outcome of this analysis is to shape the marketing strategy for the company based on the corporate strategy as to what the company aims to achieve within a time frame. Strategies part of SOSTAC mentions about the need for segmenting the target market and then specifically design the products based on the needs of the customers in each segment. In this stage, the company will go onto design its individual strategies on segmentation, positioning and competitiveness to place the product in a safe position in the market. Strategy emphasizes on the need for designing a USP for each of the product to give it a competitive edge over the existing products in the market. Tactics will help design the 4Ps of marketing by carefully selecting the right mix in order to achieve optimum results in terms of sales. Tactics also inform about the different ways of promotional activities and communication techniques that a company should take up in order to get the attention and create awareness among the target market. Actions refer to the action plan the company should have about who does what and how the strategies are executed. The focus of the company at this stage will be budgets, staff and risk analysis. The allocation of resources and work break down structure are defined in this stage as well as key performance indicators are determined along with the bench marks that are supposed to be achieved. Control deals with the measurement and monitoring of the effectiveness of the strategies that are followed. It mainly revolves around the measurement of performance in each communication channel in terms of ROI (Return On Investment) for the promotional activities. 2. Importance and Scope of Internal and External Auditing Marketing audit forms the base of marketing planning. It is divided into two types, internal and external auditing. The aim of any auditing activity is to review the effectiveness of existing processes and suggest necessary improvements to be made. Internal auditing helps to analyse the strengths and weaknesses within the company and the way the company is performing whereas external auditing helps to assess the external environment that will affect the operations of the company. A wide range of tools are used to carryout auditing such as SWOT analysis, PESTEL analysis, Porters Five Forces analysis etc. Both the audits together give a multi-faceted approach to look at the companys operations and the need for improvements. The aim of internal audit is to measure the performance of the resources and processes in the company and find the gaps where improvements are required. The main focus of this audit is to review the marketing process and quantify its effectiveness in terms of achieving the sales targets and objectives. Aspects like distribution channels, communication channels, customer interaction, product price and product design are analysed in the internal auditing. The aim of external auditing is to provide an Outside-in view to the company by analysing the external factors such as the competition in market place, the consumer buying behaviour and the trends in market. This assessment will enable the company to predict the dynamics of the market and take necessary actions to sustain and grow within the industry. The global environment of the industry in which the company operates will be analysed by looking at the factors like polity, economy, society, technology, legislature and environment which have a direct impact on the business. This analysis will be helpful in redesigning the business strategy to match with the environment. 3. SWOT and TOWS Process SWOT analysis is carried out at the organizational level to observe the internal capabilities of a company and match them against threats and opportunities presented by outside factors such as competition. It is one of the simplest techniques to conduct internal audit. The main focus of SWOT technique is to analyse the internal weaknesses that can be converted to strengths as well as work on strengths to take advantage of the external opportunities in the market. The limitation of SWOT analysis as tool for designing strategy is that it will not include all the necessary dimensions to be analysed for providing a robust strategy. In order to overcome the limitations of SWOT, Weihrich (1982) developed TOWS technique that will help the managers to go a step further in analysing the state of the company at a given time. TOWS framework is considered to be a situational planning tool that provides more number of parameters to analyse and give a holistic view for designing the strategy of a company. The technique of TOWS analysis is to compare each strength and weakness to each opportunity and threat in the form of a matrix which provides a more comprehensive solution for devising the strategy than in a traditional planning process like SWOT. TOWS technique involves 4 types of analyses as follows: SO: Strengths- to-Opportunities ST: Strengths-to-Threats WO: Weaknesses-to-Opportunities WT: Weaknesses-to-Threats For all the four analyses mentioned above, a matrix can be designed to map each element with the other. The following figure will describe a typical Strengths-to-Opportunities matrix based on the strengths and Opportunities which originated from SWOT analysis: SO Matrix Strength1 Strength2 Strength3 Opportunity1 Opportunity2 Opportunity3 TOWS analysis has to be conducted in succession to SWOT where initially the strengths and weaknesses of the organization are identified. Once the list of SWOT elements is obtained, the organization should then develop strategy to attack the external opportunities with help of its strengths and try to convert the threats into opportunities. This process is done in the TOWS analysis which gives a rounded perspective for the managers to tally and improve every row element in the TOWS matrix against every column element as shown above. Hence both SWOT and TOWS analyses complement each other to inform strategy for an organization. 4. Segmentation, Targeting and Positioning Strategy formulation is the key to success for launching a product into the market. The foremost objective of any strategy is to give a sustainable competitive advantage to the product over its rivals in the market (Barney, 1991). According to Kotler, the essential elements of any organisations marketing strategy are segmentation, targeting and positioning. These three processes are collectively and shortly termed as STP. Segmentation Dividing the target market into specific groups based on the demographics, habits and location is called Segmentation. The target market is grouped based on the factors like age, sex, annual house hold income etc. This process is very crucial in forming the market strategy because it will inform both product development team and the marketing team on what products to be designed and how they can be promoted to the different sections of people respectively. Effective marketing is all about making what you can sell, but not selling what you can make (Ali, 2001). For example a simple segmentation of market for a Sports Footwear manufacturer can be based on the following factors: 1) Type of Sport 2) Percentage of Men, Women and Children interested in different sports Based on the above segmentation, the company would then decide on the type and quantity of footwear to be manufactured as well as how to market it to the target customers in order to achieve the sales objectives. Therefore Segmentation directly informs the marketing strategy in the initial stages of formulation. Targeting Once the segmentation of customers is over, then the company has to devise strategies to target the identified segments by designing the products that closely match their requirements which could generate optimum sales revenue. Targeting is to identify the target customers who will potentially buy the product when it is out in the market. This process involves identifying three target groups which is mostly common to many industries, the niche customers group, mass customers group and the differentiated customers group. Niche Market: The products designed for this segment are very specific and tailor-made in order to suit the particular requirements of very few customers who are ready to pay premium prices. In Niche markets the volume of sales is very low but sales revenue is high due to premium prices for the heavily customized products. Example: Equipment manufacturer for military needs. Mass/ Undifferentiated Market: In this market products are designed to suit the generic needs of customers rather than meeting specific requirement of each customer. The prices for this target market are relatively low and the companies can achieve economies of scale by doing batch production. In this segment the volume of sales are high and the revenues depend on the volume of sales. Example: Fast moving consumer goods like cosmetics etc. Selective/ Differentiated Market: The needs of customers in this target market are similar but specific. The main reason for companies to address this market is to enhance customer experience and thus grab a significant market share by surpassing the competitors. Product price is slightly higher but is complemented by customer satisfaction hence resulting in increased market share and sales revenues. Example: Apple iPhone can be a classical example of differentiated target market product as it provides enhanced user satisfaction at a premium price. Positioning Any company thinking of introducing a new product into the market should create a launch pad for it as to define the position where it fits into the existing space in the market place. This act of identifying and defining the position can be called Market Positioning. In this process, the main focus is on the quality and the price of the product to be launched. Therefore positioning process should start by identifying the gap in the market place where there is less density of competitors and bleak possibility for new entrants to occupy that position. Market positioning mainly depends on which type of competition is prevailing in the industry (Monopoly, oligopoly, Perfect competition). The below figure demonstrates a situation where there are 3 existing players and a possible market gap where the 4th player, a new entrant can position itself: HIGH PRICE C DHIGH LOW A BQUALITY QUALITY LOW PRICE In the above market place, each of the products are in a different position where the new product D has entered into the space of providing high quality products at a price less than premium. This space was earlier empty as all the other three players are not providing as much quality at the price slightly higher and lower than that of D. Therefore it can be understood that product D can capture a significant market share if right marketing campaigns are adopted. 5. Strategies for Market Growth and Competitive Positioning Growth strategy After successfully launching the product in the market the companies should then look at enhancing the growth prospects for the product by designing appropriate growth strategies. Growth in terms of market share as well as sales revenues. There are various growth strategies like mergers and acquisitions, franchises, strategic collaborations and outsourcing. Ansoffs Matrix explains the various market growth strategies in detail which will help the organizations to select the appropriate strategy that best fits their case. Depending on whether the product and market whether they are new or existing a company should adopt a growth strategy. Ansoffs matrix is a tool whose output will provide a set of growth strategies which can be followed. Figure: Ansoffs Product-Market Growth Matrix Existing Product New Products Market Penetration Product Development Market Development Diversification Existing Market New Markets To understand the market growth strategy in more detail, consider the example of a company which wants to explore a new market by exporting its existing products to another country. Let us say, a UK car manufacturer finds a potential growth factor in Indian market, the strategy would be market development. In the process of Market Development the company should segment its target customers based on the socio-economic sections in the context of India and build an entirely new distribution channel in to sell the cars. The company should also change the pricing structure according to the prevailing competitive prices. Likewise, depending on the type of market and the type of product broadly four growth strategies can be adopted as shown in the figure. 6. Need for differentiated marketing mix Marketing mix essentially deals with the 4 crucial elements which form the core of marketing any product. The 4Ps stand for Product, Price, Place and Promotion. With the following example all the four Ps are explained: Example: Fashion Clothing for Teenagers Vs Formal Clothing for Older middle class Product: A right product has to be designed that exactly meets the needs of the target customers. Target customers in this case are teenagers and older people in middle income group. In UK the market size for clothing is dominated by Women with more than half of the total value of the sector (KeyNote, 2009). By value womens garments contribute for  £19.1 bn whereas Men and Childrens garments are at  £11 bn and  £7bn respectively of the total market value of  £37.2bn as of 2008. The variety of clothes for women is huge and for simplicity purposes only Mens clothing is discussed in this context. Teenagers: Population in the age of 15 to 19 can be treated as active teenagers. Teenagers generally like to be trendy and fashionable. So the product for this target market should reflect the same in its design and appearance. Trousers: Teenagers prefer Jeans for trousers with various styles according to their tastes like boot-cut, low waist, straight fit. T-Shirts: Teenagers prefer round-necks over collar T-shirts Older Middle class: The average annual house hold income in UK per capita is  £14,921 as of 2008 (KeyNote, 2009). The target customers, older middle class population in UK belong to the social grade B based on the classification of the Office of National Statistics. According to the buying behaviour based on age, sex and social grade the penetration is observed to be more in the clothing accessories like rain coats, jackets and polo shirts in this segment (Older Middle class). Hence the products designed for this segment should take the above trend into consideration for selling the clothes easily. Price: Price is the most crucial factor that can influence consumer buying decision and hence should be fixed by considering the factors like right price for right quality and the competitive prices in the market for similar products. In the context of clothing, most of the brands have a varying price structure based on the style and the quality of material used for production. For example, jackets made of cashmere wool are costlier than other ordinary wool and there would not be much price difference in this segment across the brands. Price for natural fibre-made clothes is always premium while there is a great variation in the prices of clothes made up of man-made fibre like Viscose, Acrylic, Polyester and Poly Propelene. As the investment in designing fashionable out fits is high, the price for clothes made for teenagers is higher than that of the clothes designed for Older people. Prices Jeans: Price varies depending on the style Boot-cut:  £15 to  £30 Narrow-fit:  £20 to  £40 Formal Trousers:  £10 and above depending on the fabric T-shirts: Price varies depending on the material Cotton round-neck:  £10 Cotton Polo:  £15 and above Polyester round-neck: From  £6 onwards Place: Place is where the product is available for the customers to purchase. The places might range from a corner shop to that of high street stores and large wholesale stores. There were around 3,530 enterprises in UK that are involved in clothes manufacturing and there is a strong distribution network in UK for clothing manufacturers (KeyNote, 2010). Clothes can be made available at a variety of stores across all the regions in UK. The places which sell clothes in UK are Super markets, sports shops, department stores, independent stores, mail orders and online stores. Teenagers: As the clothes made for this segment are fashionable, they need to be located in an eye-catching area like high street retailers and sports stores. However a large number of clothes can also be sold through online retailer like Amazon which is quite popular among internet users. Older Middle Class: The major place for sales in this segment would be large supermarkets. Older singles and couples visit large supermarkets for grocery and household needs quite often, therefore clothes in this segment might find right place in super markets for large volume of sales. Promotion Promotion is about communicating the brand and the products to the customer who will then make a buying decision. Without the awareness of the brand, the customer would hardly make a purchase. Therefore quantity of sales is directly proportional to the effectiveness of the promotional activity. There are different ways of promoting a product. Advertisement, brand endorsements, email marketing, discount offers like buy 2 for 1, pre-launch and post-launch promotional campaign etc. are some of the commonly adopted promotional techniques. Teenagers watch television quite regularly and hence it is a good medium to advertise. On the other hand, fashion magazines and internet are also very popular among teenagers and advertising on these might attract them to buy the clothes. Older people might not be as good in using the internet as computers are modern and they might feel it difficult to adopt. However television and magazine advertisements might boost up the sales for the clothes in this segment.

Tuesdays with Morrie Essay -- essays research papers

At first glance, the movie, Tuesdays With Morrie, appeared to be a movie about an ex-student learning a final lesson about life from his dying ex-professor. But, as the movie progressed, I felt it was actually a movie about two dying men. Morrie, the old professor, was in the final stages of ALS and physically dying. Mitch, the former student was a commitment-phobic living an unfulfilled life and spiritually dying. Spiritual death is reversible, so Mitch tried to gain some of the wisdom and learn some of the lessons that Morrie had already learned in his happily fulfilled life. On the other hand, physical death is irreversible and Morrie realized that his time was growing short. He had concerns, such as becoming increasingly dependent on others, that he wanted to discuss. Most importantly, he wanted to teach the world one final lesson on "The Meaning of Life" and he needed Mitch to be his messenger. For fourteen weeks, Morrie and Mitch discussed life and how it should be l ived. Topics included issues concerning love, commitment, forgiveness, family, and regrets. By the time Morrie died, they had helped each other transition to a new life. Their discussions changed Mitch’s life. Before the weekly lessons with Morrie, he appeared to be terrified of love and commitment. He was also afraid of displaying affection like kissing, touching, hugging or crying. He broke promises to Janine, didn’t save a lot of time for her, and was basically str... Tuesdays with Morrie Essay -- essays research papers At first glance, the movie, Tuesdays With Morrie, appeared to be a movie about an ex-student learning a final lesson about life from his dying ex-professor. But, as the movie progressed, I felt it was actually a movie about two dying men. Morrie, the old professor, was in the final stages of ALS and physically dying. Mitch, the former student was a commitment-phobic living an unfulfilled life and spiritually dying. Spiritual death is reversible, so Mitch tried to gain some of the wisdom and learn some of the lessons that Morrie had already learned in his happily fulfilled life. On the other hand, physical death is irreversible and Morrie realized that his time was growing short. He had concerns, such as becoming increasingly dependent on others, that he wanted to discuss. Most importantly, he wanted to teach the world one final lesson on "The Meaning of Life" and he needed Mitch to be his messenger. For fourteen weeks, Morrie and Mitch discussed life and how it should be l ived. Topics included issues concerning love, commitment, forgiveness, family, and regrets. By the time Morrie died, they had helped each other transition to a new life. Their discussions changed Mitch’s life. Before the weekly lessons with Morrie, he appeared to be terrified of love and commitment. He was also afraid of displaying affection like kissing, touching, hugging or crying. He broke promises to Janine, didn’t save a lot of time for her, and was basically str...

English and Spanish New World Colonies Essay

Most of the powerful Western European Nations became involved in exploration of the Americas. Spain started the trend with the exploration of Columbus. Observers realized that Columbus had not discovered Spice Islands south of China, but a whole new world to the Europeans. Expeditions of exploration in search of wealth were the first action of the explorers of the new land. Immediate metal wealth was not found in the Caribbean Islands, but it was found later on the Americas mainland. England was then enticed to claim land for itself, and claimed the lands of North America and benefited from early trading posts. Spain and England both participated in the exploration and colonization of the Americas, but their ambitions were different based upon the surrounding environment. Spain focused its exploration on the lands surrounding the Gulf of Mexico, and the Pacific link on the Western coast of South America. Like the English, the indigenous people of the acted friendly towards the Spanish explorers, then resisted after unjust massacres occurred. This common reaction comes with the part of human nature that accepts others, and rejects them after they have participated in undesirable actions. Similar to the English, the Spanish also colonized the lands of the new world and developed large cities, which served as political and economic centers. The geography of Central and South America contributed greatly to the amount of metals and valuable resources that were extracted from the ground and from the artifacts of the natives. Unlike the English, the Spanish employed Viceroys, or officials to rule the new world to keep order. These Viceroys reported directly to the king, and could be removed from office by a court of lawyers. These rulers were essential to the vast, spread out landmass that the Spanish conquered. Encompassing many different cultures such as the Aztec and the Inca, it was essential for the Spanish to have powerful political figures to run the government in the place of a king. The English however, relied on direct ties to the royalty of England to run their colonies. The English explored the colder, less metal rich region of North America. Although North America lacked in valuable metals, it was the source of furs that would revolutionize the European economy. The English were similar in  their economic views of establishing permanent colonies after the wealth of the trapping of beavers was extracted. Located within North America were greatly diffused native populations of different tribes. This did not lend well to missionary work, or laborers. Unlike the Spanish, the English did not breed with the indigenous people, and they received slaves from Africa to satisfy their labor needs. But similarly to the Spanish, the English contributed a large amount of their revenue created in the Americas to add wealth to their kings, and to expand the size and power of their armies. Overall, the Spanish and English shared many economic goals in expansion and exploration. However, their political structure and social organization differed from the environmental conditions and the personal cultural views. The establishment in political, social, and economic centers of power was a parallel evolution between these two country’s colonies, as is the enrichment of their country’s treasury and power.

How We Relate to the Complex Ancient Roman Republican Govern essays

How We Relate to the Complex Ancient Roman Republican Govern essays How We Relate to the Complex Ancient Roman Republican Government Rome was built on the famous seven hills overlooking the Tiber River, midway down the Italian peninsula and about fifteen miles from the western coast. Rome became an independent state about 500 B.C. By the time of the collapse of the Roman Empire (about 476 A.D., almost 1000 years after its creation), it had acquired enough land to constitute the majority of the European continent. The main reason for the strength and longevity of the Roman Empire was the Roman government. The Roman government was well constructed with an elaborate system of checks and balances. This type of construction allowed the Roman government to effectively govern its people and control its strong military. The Roman republican government was very successful and was also the foundation for the modern western governmental bodies. Most political scientists refer to the Roman republic as an oligarchic republic (where the people are dominated by the leadership), based on the division of the population into two classes, the patricians and the plebeians. The aristocracy of well-to-do families formed the class of patricians (from the Latin word patres meaning fathers); they alone were full citizens (Brinton, Christopher, and Wolff 96). Membership in the patrician class was limited to propertied families already well established in the Etruscan era. The inferior class of plebeians (from the Latin word plebs meaning the multitude) comprised about ninety per cent of the Roman population (Brinton, Christopher, and Wolff 97). Merchants, laborers, small farmers, and the large group of debtors (created by the economic upheaval following the expulsion of the Etruscans) were all plebeians. The plebeians were denied full political rights, particularly access to high ...

Common Classroom Etiquette and Rules for Students

Common Classroom Etiquette and Rules for Students There are a few standard rules that every student should observe at all times when it comes to behavior in the classroom. Respect Others You are sharing your classroom with several other people who are just as important as you. Dont try to make others feel embarrassed. Dont make fun of others, or roll your eyes, or make faces when they are speaking. Be Polite If you must sneeze or cough, dont do it on another student. Turn away and use a tissue. Say excuse me. If someone is brave enough to ask a question, dont laugh or make fun of them. Say thank you when someone else does something nice. Use appropriate language. Keep Supplies Stocked Keep tissues and other supplies in your desk so youll have one when you need it! Dont become a constant borrower. When you see your eraser or your pencil supply shrinking, ask your parents to restock. Be Organized Messy workspaces can become distractions. Try to clean your own space often, so your clutter doesnt interfere with the classroom workflow. Make sure you have a space for storing supplies that must be replenished. This way, you will know when your supplies are running low, and you wont have to borrow. Be Prepared Maintain a homework checklist and bring your finished homework and projects to class with you on the due date. Be on Time Arriving late to class is bad for you and it is bad for other students. When you walk in late, you interrupt the work that has begun. Learn to be punctual. You also risk the possibility of getting on the teachers nerves. This is never good. While the Teacher is Talking Look at the teacher to make eye contact, unless youre writing notes.Dont whisper.Dont pass notes.Dont throw things.Dont laugh.Dont make funny faces to make other people laugh. When You Have a Question Wait for your turn to ask a question. If someone else is speaking, simply wait with your hand raised (or whatever process your teacher requires).Dont say me, next or oh when youre waiting with your hand raised. You will be noticed. When Working Quietly in Class Dont hum or fidget to distract other students.Keep your hands and feet to yourself.Dont brag if you finish first.Dont make rude comments about another students work or habits. When Working in Small Groups Respect the work and the words of your group members. If you dont like an idea, be polite. Never say thats dumb, or anything that would embarrass a classmate. If you really dont like an idea, you can explain why without being rude. Speak to fellow group members in a low voice. Dont speak loud enough for other groups to hear. During Student Presentations Dont try to distract the speaker.Keep your eyes on the speaker.Dont make rude comments.Try to think of a question if the speaker invites the class to ask. During Tests Remain quiet until everyone is finished.Dont get up and walk around unless its absolutely necessary. Everybody likes to have fun, but there is a time and a place for fun. Dont try to have fun at the expense of others, and dont try to have fun at inappropriate times. The classroom can be fun, but not if your fun involves rudeness.

The Road to Stardom Article Example | Topics and Well Written Essays - 1000 words

The Road to Stardom - Article Example As a child Kobe Bryant loved the game of basketball. He was inspired by his father, Joe â€Å"Jellybean† Bryant, who was a professional basketball player who played in the National Basketball Association (NBA) for the Philadelphia 76ers. Kobe lived part of his youth in Europe and his family always made sure Kobe received a good education. In high school Kobe Bryant studied and played basketball for Lower Marion High School in Pennsylvania. During those teenage years Kobe was a phenomenon in the basketball court playing against other players his age. Scouts recognized his talent very early in his basketball career. Kobe was considered one of the nation’s top prospects in 1996.After Kobe graduated for high school he considered going to college to earn a degree and play for Duke University or another school since he received many scholarship offers. His talent in the courts was incredible and he opted to enter the NBA draft in 1996. Kobe was selected #13 in the draft by th e Charlotte Hornets. After being drafted Kobe heard the news that would change his life forever. . The L.A. Lakers traded Vlade Divac for the rights of an unproved rookie named Kobe Bryant. Kobe had a tough rookie season, but he learned what being a true professional is all about. He did win the slam dunk contest that season which made him a popular player. . Within three seasons he developed his game and gained the recognition in the league to be chosen to his first of many all-star game selections.

Define term Strategic organization and Credibility in public speech Essay

Define term Strategic organization and Credibility in public speech - Essay Example Michelle Griffin in her video, â€Å"Strategic Organization Road Map† defined strategic organization as the development of organization’s objectives structured in a logical and systematic manner to achieve desired organization’s results. The best example of strategic organization can be of sharing the mission statement of the organization with stakeholders. The information structured in the report offers good amount of information on the organization’s mission and its long term objectives. The specific audience here is stakeholders and specific result is to attain future goal and objectives through shared ideas and strategies. Thus, it is very much clear that strategic organization is often perceived as the study of an organization’s strategies based on the management decisions. However, in public speech it is also perceived as putting ideas and information together in a manner that is easy to understand and deliver. It caters to the need of specific people in a systematic manner. It is a process that is developed through the understanding of internal and external environment to reap desired value and benefits. In literal sense, credibility is defined as the quality of being believable and trustworthy among others in the personal and professional world. Credibility needs trust and belief that differs from person to person and thus making the whole process of being trustworthy; a complicated one. However, this complexity is eliminated by being honest and clear with one’s ideas and perception along with having a compassionate nature embedded with convincing power and skills. It needs to be understood that people find it difficult to accept the credibility of an individual without assessing his talent and potential. The assessment of one’s skills and potentials offers belief and trust that redefines credibility in a contrasting manner. Tracy Goodwin in her video, â€Å"Persuasive Speaking Tips: Credibility in Persuasive