The Partnership Act 1890 and The Company law Assignment

The Partnership Act 1890 and The Company law - Assignment Example Price4. Another option is that where the court is of the opinion that there exists a just and equitable ground to dissolve the partnership pursuant to section 35(f) (Harrison v. Tennant)56 Thus the options that are available to Janine and Mary would be that of judicial dissolution or if there had been an express pre-condition within the partnership agreement that time should be given to the running of the business, this could be an effective reason which can be used under the provisions of an express and flagrant breach of the partnership agreement, whereby Lindsay can be expelled from the partnership. In respect of judicial dissolution it is important to mention he repercussion that flow from such an action as the goodwill would be sold and in addition there would be the requirement of return of capital of each of the partner and therefore Lindsay would have to be returned her share of the capital and an appropriate order in respect of the same would be made by the court so as to di rect the recovery of the same. Another reason which can be used as a basis to expel Lindsay is the fact that she has been involved in criminal conduct and therefore the partnership would be affected by her actions and therefore she has already failed to perform her duties effectively she could be expelled, however, there remains the possibility of such an act of expulsion being challenged by Lindsay in court and arguing the fact that her actions in no way affected the partnership and her reason for not giving proper time to the partnership were merely on the basis of the fact that she was not in the right phase of mind and her acts/omissions if she... This discussion talks that the only problem which lies in respect of this would be that the provision provides for the term ‘may’ which does not make it compulsory and therefore if Mary hires Terry without consultation that would be problematic. The problem in respect of this position would be that under section 5 of the Partnership Act 1890 a partner is considered to be an agent of the firm as well as other partners in respect of the purpose of the business of the partnership and so the acts of the partner who indulges into action in order to carry out the usual business of the kind which is carried on by the firm for which he is a member, would bind the firm, unless the partner does not have authority to do the act.Further, section 6 provides that if an act or instrument which relates to the business of the firm and is done/executed in the name of the firm with a person who is authorized even if he is a partner or not will bind the firm as well as the partners. By virt ue of the aforementioned section 5 and 6, it is clear that if Mary enters into a contract for hiring Terry whereby Terry does know that he is the partner and has the authority would create a binding contract which would be effective on both Lindsay and Janine. In addition by virtue of the instrument, if any, section 6 would come into play and would be binding upon Terry, the firm as well as the partners of the firm and thus such a contract would then have to be abided by and thus an action in respect of the same cannot be rectified.

Target Marketing Term Paper Example | Topics and Well Written Essays - 1000 words

Target Marketing - Term Paper Example Target marketing is not all about breaking a market into various small segments and attracting the attention of the marketers confining their focus on a few key sections of the market. The implication of target marketing suggests that various considerations should be taken into account with the purpose of identifying the customer groups who are to be targeted. It is worth mentioning that ‘Marketing’ is termed as the art of creating wants among people who gradually turns out as the potential customers of the product and/or services rendered. According to Smith (1956), segmentation of markets is focusing on customers with similar interest to that of the marketer, so that it becomes easier for the organization to develop beneficial communication and thus satisfy the customer need effectively. Target Marketing Approach Customers’ demand varies from one group to the other. Thus, the identification of these demands emerges to be quite challenging for the marketers imple menting the target marketing approach. After identifying customer demands, marketers develop the product and various marketing strategies to satisfy the demand of the particular customer group(s) targeted. Thus, target marketing helps the company to identify their most potential customers. With this concern, marketers tend to emphasise on various aspects of market and human psychology which define the satisfaction and demand of targeted customers. Furthermore, with the assistance of target marketing, strategies are developed to offer the products and/or services according to the customers’ demand which in turn boosts customer satisfaction. Therefore, target marketing assists the organisation to attain additional customer satisfaction rewarding higher loyalty and competitive advantages, although it initially deals with a concentrated group of customers (Smith, 1956). The motto of target marketing is to identify most viable segments focussing on which the organization can attra ct maximum number of customers and retain the valuable customers by satisfying their demands. It is in this context that target marketing can assist organisations in gaining sustainable growth (Bragg, 2005). The main reason for focusing on certain specific customer groups who have been targeted is to develop a marketing mix strategic alliance that can satisfy the customer needs in the best possible way. Marketing mix is so prepared that it supports the strategies of target marketing. Target marketing approach can be highly beneficial if marketing mix is prepared with great attention which also helps in enhancing the competency of the organisation to a large extent. Thus, supreme customer value is ought to be achieved with the benefits provided by the marketing mix which further can prove to be very crucial for target marketing approach (Bragg, 2005). It is worth mentioning that customers’ interests are given the maximum preference while preparing target marketing strategies. Marketers pay keen attention in selecting the target market. The process is initiated when marketing experts analyse different characteristics such as demographic and psychographic qualities possessed by the potential customers. Demographic analysis consists of age, geographic location, gender, earning capacity, education level and relationship status that can influence the demand of the customers. Similarly, psychographic analysis includes offering price of the products; convenience provided by the product, how safe the product can prove to be, availability of the product i.e. how far the customers need to travel to make the product available and so on which defined the satisfaction level of the customers (Restrepo, 2008). Target