Trusts and equitable relationships in utility to commerce. - Free Essay Example

Sample details Pages: 8 Words: 2387 Downloads: 10 Date added: 2017/06/26 Category Law Essay Type Critical essay Did you like this example? à ¢Ã¢â€š ¬Ã‹Å"Trusts in a commercial setting require treatment that differs from that given to traditional trusts. Some modification is essential if trusts and equitable relationships are to be of utility to commerce.à ¢Ã¢â€š ¬Ã¢â€ž ¢ Critically evaluate the above view, with reference to case law and literature on both the nature of a beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest under a trust and on the nature of Quistclose trusts. Traditionally trusts were private family arrangements. Historically much of trusts law emerged out of the desire of settlors to preserve family wealth, tying up property so that it could be enjoyed by successive generations.[1] In the twentieth century however, trusts have been used more and more in a commercial setting to the point that it is estimated that less than 10 per cent of trust assets are comprised in family and charitable trusts.[2] Therefore, it is clear that the most important feature of the trust concept is as an instrument of commerce, with the key attributes of protection against insolvency, the protective regime of fiduciary trust law and the flexibility of provisions that can be inserted in trust instruments. The key to the efficient commercial use of trusts is the idea of the trust fund owned by the trustee but segregated from his own estate and thus protected from the claims of the trusteeà ¢Ã¢â€š ¬Ã¢â€ž ¢s creditors and available to satisfy the claims of the beneficiary.[3] In the commercial context the trust usually results from a contract rather than a gift meaning that often commercial trusts seem to straddle the line between the two systems of exchange, gifts and bargains which in the eyes of some commentators has blurred the line between trust law and contract law. Ruddenà ¢Ã¢â€š ¬Ã¢â€ž ¢s account of the orthodox trust as essentially a gift, projected on the plane of time and so subjected to a management regime,[4] does not fit for trusts in commercial settings. The commercial trust, by contrast does not effect a gift and often has financial benefits for the lendor. For example in Northern Developments Holdings Ltd[5], where the banks had an interest separate and distinct from that of the debtor in seeing that Kellyà ¢Ã¢â€š ¬Ã¢â€ž ¢s debts should be paid. There has been much controversy over the nature of a beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest under a trust, based upon the difference between in personam rights against tr ustees and in rem rights against trust property[6]. In the commercial world, Goode suggests that it is upon the debtors insolvency that the distinction between ownership and a personal right to an asset becomes of crucial significance.[7] This mainly because it is a basic policy of insolvency law to respect proprietary rights held by another prior to the debtorà ¢Ã¢â€š ¬Ã¢â€ž ¢s bankruptcy. So in a way, a finding of a trust can be a means of protecting an unsecured creditor because the estate available for distribution among the general body of creditors is limited to the debtorà ¢Ã¢â€š ¬Ã¢â€ž ¢s own assets. Therefore the degree to which the law is willing to recognise rights as proprietary rather than merely personal is of great import to unsecured creditors, for every extension of the concept of ownership erodes the debtors estate. With the trust concept being expertly manipulated by lawyers to fit more and more commercial scenarios, it becomes increasingly unclear what the n ature of the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest in equitable property rights are. The widely held understanding of the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest being a form of property ownership reflects the origins of the trust.[8] The trust of land provided the model, it is this paradigm of the trust which has subsequently influenced the way in which rights under trusts have been conceptualised.[9] It is often assumed that the existence of a legal estate vested in a trustee necessarily means that the beneficiary has a proprietary interest in it. This view was demonstrated by Lord Browne-Wilkinson, in Westdeutsche, who stated that à ¢Ã¢â€š ¬Ã…“Once a trust is establishedà ¢Ã¢â€š ¬Ã‚ ¦the beneficiary has in equity a proprietary interest in the trust property.à ¢Ã¢â€š ¬Ã‚ [10] To counter the argument that beneficiaries must have a proprietary interest in the trust, Parkinson argues that beneficiaries under discretionary trusts do not gain proprietary interests. In McPhai l v Doulton,[11] consideration was given to the validity of a discretionary trust in which the potential beneficiaries listed were numerous making it difficult to say that they had proprietary rights. The significance of this argument is that it challenges objections to decisions based upon the proprietary nature of the trust, and opens up the possibility of accepting developments in the law without complex attempts to reconcile these cases with pre-existing assumptions and definitions of the trust. Parkinson states that because trusts now arise in so many different contexts and features of the trust vary correspondingly, it is a futile exercise to try and find a definition of the trust which is both comprehensive and accurate. [12] McFarlane and Stevens argue that the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest is neither proprietary nor in personam but propose a new theses that equitable property rights are best understood as rights against rights.[13] They submit that by understan ding the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest in this way, the trust can be accommodated within legal systems that have not experienced the productive paradox of two rival court systems.[14] The conventional view that an equitable property right is a right against a thing suggests that such rules cannot possibly be exported to those prosaic civil jurisdictions that do not share English lawà ¢Ã¢â€š ¬Ã¢â€ž ¢s colourful history.[15] That perception is unfortunate in a jurisdiction where the courts of common law and equity have long been à ¢Ã¢â€š ¬Ã‹Å"fusedà ¢Ã¢â€š ¬Ã¢â€ž ¢, let alone in a world where the law is increasingly harmonised. Fortunately, as far as equitable property rights are concerned, that perception can be resisted as they depend not on the tradition of equity but rather upon the exportable concept of rights against rights. One example of how the traditional view of a trust has been modified to make it applicable in the commercial setting is Quistclose trusts. A Quistclose trust is a trust which arises where a creditor has lent money to a debtor for a particular purpose. The trust is formed in the creditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s favour but is defeasible by the exercise of the power vested in the debtor to apply the money to the specified purpose. The name and trust comes from the House of Lords decision in Quistclose, [16]although the underlying principles can be traced back further. One of the great difficulties with the Quistclose decision is reconciling it with the orthodox principles of trust law. It would seem that the Quistclose trust is given different treatment than traditional trusts. Quistclose trusts straddle the line between trusts and contract. This is evidenced by the fact that the rights which form the subject matter of the trust were transferred to Rolls Razor pursuant to a contract of a loan. This meant that Rolls Razor was contractually obliged to repay the amount it received to Quistclose from the moment of receipt. So even if there was no trust found, Rolls Razor would still have to repay the value; the liability did not arise purely on rights transferred on trust. Therefore the consequence of finding a trust meant that the lender neither bore the risk of the destruction of the subject-matter of the trust (as would a normal trust-beneficiary) nor the risk of the borrowerà ¢Ã¢â€š ¬Ã¢â€ž ¢s insolvency (as would a normal lender). A number of commentators such as Birks and Chambers take the view that the debt only arises at the moment of application of the money to the purpose for which it was lent or failure of the purpose. This would solve the problem of the double benefit in favour of the lender, although Swadling disputes this as he states that this does not square with the facts as the contract of the loan held no such provision.[17] Also the fact that the lender imposed no obligation on the borrower to keep the funds separate from its own assets suggested that the money was not in fact hel d on trust but became a part of the borrowerà ¢Ã¢â€š ¬Ã¢â€ž ¢s estate. Although the presence of such a requirement is not necessary to determine whether or not there was intention to create a trust, its absence is a good indicator that the funds were to be held absolutely by their recipient. In Henry v Hammond, it was said by Channell J that if the recipient is not bound to keep the money separate but is entitled to mix it with his own money and deal with it as he pleases then, he is not a trustee of the money but merely a debtor.[18] Another feature of the Quistclose decision which puts it at odds with the orthodox view of trusts is that a trust must have certainty of objects. There are grave difficulties in identifying the objects of the trust in Quistclose. It could not be the creditors for a number of reasons, the most prominent of which is that it would allow them to be paid twice over. For almost identical reasons it could not be the lender. Nor could it be the purpose bec ause the purpose was a private purpose and English law does not tolerate trusts for private purposes. It is on this basis that Swadling argues that no trust should have been found in Quistclose and the funds should have been held to be a part of Roll Razorà ¢Ã¢â€š ¬Ã¢â€ž ¢s assets and treated accordingly. [19] This begs the question of why Quistclose trusts exist at all seeing as they seem to depart so from the orthodox principles of trust law. Quistclose trusts are often invoked by the lendor in place of conventional security, such as mortgages or charges, in order to protect against debtor default or debtor insolvency.[20] Bridge suggested two recurring features of Quistclose cases; the emergency aspect of the matter as well as sometimes the non-professional character of the arrangements.[21] The emergency aspect of the matter is important in a number of cases where speed is of the essence because the debtor has an immediate need for financial assistance in order to continue i n business. This is not always the case though, in Twinsectra Ltd v Yardley[22], on the facts there does not appear to have been any emergency but the parties still chose to resort to a Quistclose trust. The key point to be taken from this, that this is not an example of standard commercial practice but rather an unusual transaction. Quistclose trusts often contain within them an element of desperation; that is to say Quistclose is invoked by a claimant who wished to avoid being classified as an unsecured creditor and so maintains that he has a proprietary interest in the money that has been paid over to its recipient. Goldcorp[23] and Re Holiday Promotions (Europe) Ltd[24] are both examples of this. It has been submitted that the decision Quistclose is too uncertain in scope and basis, to be invoked by practitioners on a regular basis with any degree of confidence.[25] It is more likely to be used where time does not allow resort to more traditional forms of security or like in Carreras Rothmans[26], a transaction has got into difficulties and a Quistclose trust presents itself as the most obvious solution. It suffices to say that Quistclose does have a role to play in modern commercial practice, although it is difficult to determine the exact extent of that role. However, McKendrick argues that it appears to be principally a residual device, to be invoked where traditional forms of security are, for one reason or another, unavailable or unattractive.[27] Penner backs this view up by stating that in commercial transactions, the initial analytical impulse should be towards the contractual, at least in circumstances where the use of the trust device is not expressly intended.[28] Parkinson suggests that the Quistclose trust will come to be understood as an umbrella term for a variety of kinds of trusts concerned with limitations of an equitable character placed on the use of money by lenders and which do not always share the same structural characteris tics. [29] The existence of the Quistclose trust does not seem to conform to ordinary traditional trust rules shows that the courts are willing to treat trusts in a commercial setting differently. Conclusion Judicial statements have been made from time to time that equity has merely an unsettling effect when transplanted into the field of commercial law.[30] However it has been shown that trusts can have great use in the commercial sphere. Although wider application of the trust model may lead to some confusion over the irreducible core of the trust concept, in particular with regard to the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest, the practical potential commercial benefits namely; protection against insolvency, the protective regime of fiduciary trust law and the flexibility of provisions that can be provided by the trust instrument mean that use of trusts in a commercial setting should be encouraged. Even if this means they require treatment different from traditional trusts because they are often difficult to accommodate within existing principles or categories. Don’t waste time! Our writers will create an original "Trusts and equitable relationships in utility to commerce." essay for you Create order [1] Hayton and Mitchell, Commentary and cases on the law of Trusts and Equitable Remedies (2010) p.16 [2] ibid [3] ibid [4] Rudden B (as cited in Langbein J.H., The Secret Life of the Trust: The Trust as an Instrument of Commerce (1997)) [5] Northern Developments Holdings Ltd (1978) [6] Scott A.W., The Nature of the Rights of the Cestui que Trust (1917), 17 Col. L. Rev. 269, pp 269-283 [7] Goode R.M., Ownership and Obligation in Commercial Transactions (1987) LQR [8] Parkinson P, Reconceptualising the Express Trust, Cambridge Law Journal 2002, pp 657-683. [9] ibid [10] Westdeutsche Landesbank Girozentrale v Islington Borough Council [1996] AC 669, 705 [11] McPhail v Doulton [1970] UKHL 1 [12] Parkinson P, (as n.8 above) [13] McFarlane and Stevens, The Nature of Equitable Property (2010) 4 Journal of Equity 1 [14] ibid [15] Hayton D, English Trusts and their Commercial Counterparts in Continental Europe (2002) [16] Barclays Bank Ltd v Q uistclose Investments Ltd (1968) UKHL 4 [17] Swadling W, Orthodoxy In: Swadling W, The Quistclose Trust (2004) [18] Henry v Hammond [1913] 2 K.B. 515, 521 [19] Swadling W (as n.17 above) [20] McKendrick E, Commerce In: Swadling W, The Quistclose Trust (2004) [21] Bridge M, The Quistclose Trust in a World of Secured Transactions (1992) OJLS 333, 345 [22] Twinsectra Ltd v Yardley (2002) UKHL 12 [23] Goldcorp [1995] 1 AC 74 [24] Re Holiday Promotions (Europe) Ltd [1996] 2 BCLC 618 [25] McKendrick E (as n.20 above) [26] Carreras Rothmans Ltd v Freeman Mathews Treasure Ltd [1985] 1 All ER 155 [27] McKendrick E (as n.20 above) [28] Penner J, Lord Milletà ¢Ã¢â€š ¬Ã¢â€ž ¢s Analysis, In: Swadling W, The Quistclose Trust (2004) [29] Parkinson P, (as n.8 above) [30]

The Super Pac - 940 Words

Today’s media and communication have enhanced the knowledge of petitions, government affairs, and the environment. Although mass communication and formal protests are powerful and sometimes must suffer the darker side of the situation, they are labeled as interest groups. There are important factors such as money, power, and connections that are questioned and accessed within these groups. PACS or Political Action Committees are involved. Yet, there is another form of PACs that are named â€Å"Super PACS† where unlimited funds are raised (We the People). The â€Å"Super Pac† strategy should be outlawed by the government so it will not abuse its devoted followers. The textbook, We the People defines a PAC as â€Å"private groups with that raise and†¦show more content†¦For example, some cons that are associated with the Super PACS are the abuse of power and abuse of integrity. The Authors, Ginsberg and et all mention this use of the PAC as a form of bribery. On page 262, the text reads â€Å"such support can easily the cross the threshold into outright bribery.† The speculation of this con support the abuse of power these super PACS might enforce upon its supporters in plain and blind sight. The outlawing of this tactic could benefit people against groups with vindictive interest. The people expect the United States government, specifically the law, to protect them, but this tactic is loop hole that prevents the latter. They are receiving currency legally as donations, again for â€Å"the elections not the elected†. If these people are donating their money for a cause they deem justified and favorable, what is the benef it? The question is subjective to the follower, and to the person that sees this as way of abusing the power of the government to extract funds of people from a higher socioeconomic status. 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Markerting Concept Coca Cola Free Essays

string(46) " or regulation of food and drinking products\." This is assignment will require to explain the underlying principles behind the main marketing theories, it will also require an in-depth application, analysis and evaluation of a good or service that is currently available both in the UK market and in the international market. The Product that will be analyses within the assignment is The Coca Cola Company (CCC). [pic] â€Å"Business idea or philosophy based on the importance of profit, consumer satisfaction and the welfare of the general public. We will write a custom essay sample on Markerting Concept Coca Cola or any similar topic only for you Order Now † [5] Collin, P (1997) The Coca Cola Company is one the biggest successful soft drink company that offers 3,500 various diverse products to over 200 countries worldwide. The company originated in 1889 by pharmacist Dr John Pemberton. Dr Pemberton carried out a jug of Coca Cola syrup at his Jacob Pharmacy in Atlanta USA. [3] Marketing Mix Marketing mix can be defined as the combination of elements in an organisation’s offering the market; ‘offerings’ being either products or service. These elements were identified as Product, Price, Place and Promotion in early versions of the mix. As result, they are known as the Four Ps. [pic] [1] (2008). Portfolio. Product The marketing mix combines many factors, but consumers view marketing effort in more tangible terms of the product. It is important for marketers to recognise that much of the ‘want-satisfying’ nature of the product is derived from consumers perceptions. The true nature of the product is how the consumer perceives it, and not what the company would like it to be. CCC product first started in 1886, when they were originally made as soda fountain drink. The company has now expanded over to 3,500 diverse product (see picture above). They offer a wide range product form soft drinks to tea drinks to bottle water. The typical famous packaging of red and white CCC products is a world recognised. The coca cola company is the most sold soft drink across worldwide. Its not only sold business to business (b2b) such as sold in restaurants, pubs and convenience stores but also sold business to consumer (b2c) such as supermarkets, vending machines and other service shops. [3] Price Price is a potent element of the marketing mix because of its direct impact on customers, the company and the economy. To the consumer, price is a major indication of quality and an important factor in the decision making process. For CCC, the price at which the product is sold represents the means of recouping cost and making profit. There are various ways to price coca cola product, depending on the retailer. Supermarkets may put coca cola on promotion one week and then Pepsi the following, as they always like to stay one step ahead of their competition. It is a way to keep consumers on their toes. There is no set price for CCC, but usually the prices are based on growing rates. [8] p27 Place Place concerns activities need to move the product from the seller to the buyer and its origin is in the word ‘placement’. The coca cola company sell their various products over numerous countries worldwide. They have more brand products than Pepsi, Tango RC Cola put together. Although coca cola produces the product, they cannot be held responsible how the products are distributed across the countries. They can only rely on the suppliers following the strict guidelines set out by coca cola. [8] p31 Promotion Promotion is perhaps the element of the marketing mix that is most subject to variation. For some product it may play a minimal role, but, for other, marketing strategy may be almost entirely based on promotion. In consumer markets, promotion often has the highest budget allocation of all mix elements. For this reason it receives much attention as a marketing function. CCC promotional strategies are to make the consumers think they have control over what they are drinking and accomplishing there needs of thirst. On each bottle, coca cola encourages consumers to go to their website to learn more about hydration, sweeteners and taste. In order to boost consumer usage, CCC have taken their product to foreign markets and increased their profit margin. This was also done as they had home market competitors such as Pepsi, going international will make there brand more recognisable. CCC believes in forceful advertisements, branding and market segmentation has been a big accomplishment to CCC. Since the early 70’s they have always exposed themselves as fun, loving, playful brand to have an international appeal. [8] p29 In 1887 Coupon were first made to promote coca cola [pic] [2] (2012). 125 years of sharing happiness Customer Relationship Management CCC cannot succeed or grow unless they can serve their customers with a better value proposition than the competition. Measuring customer loyalty can accurately appraise the weakness in CCC proposition and help to formulate improvements. In fact, attempting to measure customer satisfaction and factoring research information on satisfaction studies into future marketing strategies is one of the fastest growing areas of marketing research. Customer care is fundamental to the concept in customer relationship management (CRM). High quality customer care is the key to achieving coca cola objective confronting all competitive firms trying to apply CRM principles, such as: ? Minimising customer turnover. Attracting new customers. ? Retaining customers over the long term. ? Improving profitability. ? Enhancing company image. ? Improving customer and employee satisfaction. With a strong CRM team, coco cola are still strong as ever, they evaluated every feedback they receive from their customers with shows they are always trying to meet the consumers needs by not only improving for the future but to keep up wi th the current trends. [8] p120-123 External Environmental Trading environment analysis requires CCC to look beyond its immediate market to its wider trading environment. One helpful abbreviation in analysing the trading environment is PEST. The initial letters stand for the Political, Economic, Social and Technological environment. The Political environment includes possible changes to law and regulation governing the markets in which coca cola is operating. Possible changes in government policy, such as new legislation or regulation of food and drinking products. You read "Markerting Concept Coca Cola" in category "Papers" Or even government involvement in labelling and advertisements. If all this was to be changed and affect coca cola, it will create more operating expense and reduce the profit margin. The Economic environment refers to trends in the world economy, and those in particular national market. CCC must be particularly to those that most affect its own business. As CCC is trading worldwide, the range of economic indicators, which it tracks, might include: ? Contracts with other soft drink industries. ? Maintain a Profitable investment in communities worldwide. ? The United Kingdom has recently experienced an economic recession. This period of negative growth includes higher unemployment, inflation, and cost of living expenses while consumers are experiencing lower disposable income and purchasing power. CCC has been very successful in helping other nations grow and become economically stable by investing millions of Pounds back into the countries in which they are operating. The Social Environment refers to trend in the structure of society and in behaviour and is the focus of much of what is called market research. CCC have developed numerous products to suit consumerâ €™s trends. For example, a lot of consumers are health conscious, so bringing out diet coke encouraged them to drink the brand. However, a lot of people saw the drink very girly so it soon was perceived as girls drink, as there’s no calories involved with the drink. Soon coca cola brought out Coke Zero, a similar drink but for men. It has now become one of the best selling drink worldwide. CCC are continuing to follow and keep updated with the product development and marketing for healthy choice obtainable. The Technological environment is that concerned with the use of raw materials, production processes and finished products, and particularly with innovation. Such as CCC is the soft drink industry; the development of a plastic material has reduced the use of glass bottle dramatically. CCC also have threats technological. For this, they implement more investments in their research department so they can progress monitoring of the sales, production and delivery process between themselves and other soft drink companies’. [7] p18-19 Purchase Decision There are three way of purchase decision for CCC: Straight re-purchase = this is the most frequent type of purchase. The consumer repeats – buys a CCC product purchased on previous occasion. This occurs most frequently in circumstances in which a consumer is loyal to a brand and is reluctant to try an alternative. Modified re-purchase = this occurs when a consumer needs to change their behaviour. This might be because the habitual brand is out-of-stock and a near substitute is selected; it might be prompted by the changed needs of the consumer; it might be promoted by the updating of an existing product; it might be prompted by promotional activity by a competing product. New purchase = this refers to that category of purchase, which is being made for the first time. Here promotion plays a key role in stimulating demand for products, notifying consumer of their availability, and in reassuring consumer about their purchase. 7] p57 Competitive Environment The competitive environment affects the commercial prosperity of a company. Many UK manufactures in industries like steel and textile have experience intense competition from foreign product. Management team must be alert to potential threats from cheaper import or substitute products and establish exactly who their competitors are and the bene fits they offer to the marketplace so they can compete more effectively. [8] p17 Two indicator of enormous importance to a management teams are market share and market growth. Market share is a term, which refers to the proportion of total sales for one product group, which is, enjoy by a particular brand. According to Stephen Page book to Induction to marketing CCC enjoyed 58 per cent share of the total sales of cola drink in the UK in 1992. According to Best Global Brand CCC is ranked number one, valued just over $71 Billion. Leaving their main competitors Pepsi ranked at number 22nd, only valued at $14 million. [6] Buyer Behaviour CCC needs to know when, where, how and why soft drinks are purchased. They need to know who is making the purchase and what factors influence those decisions. In particular, they examine buyer behaviour to look for patterns, which may give a clue to future behaviour, as well as explanation for the existence of those patterns. Buyer term refers not only to someone who is buying for own consumption, but also to anyone who buys on behalf of others. For example, it could be an adult of a household buying on behalf of a child. Buyer behaviour in business-to-business market is an area that has not been as well researched as consumer behaviour. First it is because these markets are often much smaller than consumer markets, and would not therefore justify the production of off-the-shelf data by commercial agencies. Hence not as much research has been undertaken. Secondly, industrial buying decision-maker has been more difficult to research and categories than consumer. However, interest is now growing in the subject. [7] p56 Market Segmentation Marketing segmentation is the analysis of total demand in a market into its constituent parts, so that different sets of consumers, with distinctive needs and behavior patterns, can be identified. Market segmentation is defined as: â€Å"The process of breaking down the total market for a product or service into distinct sub-group or segments, where each segment might represent a distinct target market to be reached with a distinctive marketing mix. † [8] Lancaster G Reynolds P (2002). Marketing made simple p38 To improve opportunities for success in a competitive marketplace, marketers must focus their efforts on clearly defines market targets. The intention is to select those groups of customers that the company is best able to serve so that competitive pressure is minimized. The advantages of CCC target marketing are: Marketing opportunities and ‘gaps’ in a market may be more accurately identified and appraised. ? Product and market appeals can be more finely tuned to the needs of the potential customer. ? Marketing effort can be focused on the market segments that offer the greatest potential for the company to achieve its objective. Previously in the 1960s, CCC made only one soft drink and proposed it at the entire soft drink market. But now CCC offers thousands of different products to market segments based on diverse consumer preferences for flavours and calorie and caffeine content. CCC offers established soft drinks. One can see the many dimensions of CCC product line and how specific the marketing mixes have to be to stay competitive among other businesses. [8] p39 Market Planning At one extreme are those that plan everything down to the smallest detail, and adhere rigidly to the plan document, even when it does not appear to be working, perhaps because the plan is based upon inaccurate information or incorrect assumption. In an ideal situation, the evolution of an organisation marketing strategy and tactics will be top-down, bottom-up process; that is, one, which involves staff at all, levels from director to office junior. It will be an integral part of the organisations operation, and not simply a panic reaction to a crisis. It will be flexible enough to permit immediately workable ideas to be put into practice, without waiting for the final plan to be drawn up. It should not be cast in tablets of stone; if circumstances change during implementation of the plan, then the plan must change to. [7] p232 International Marketing from Domestic Marketing Companies that only ten years ago might have identified their main competitor as major domestic rival are now just as likely to refer to an company in Europe, USA or the Far East. Some organization outgrew their home market years ago, and now make most of their money outside their original national boundaries, to that extent, Corporations like CCC have become almost stateless, owing no allegiance to any particular country: their markets are global. International marketing does not differ fundamentally from domestic marketing; the same principal are involved. It differs only in that overseas markets, being both further away and containing consumer from other cultures, pose a higher degree of risk than those of known markets. Successful entry into an overseas market thus requires even greater care and attention to planning. Ironically, most company enters oversea markets because they have surplus production that they want to dispose of. If, however, a business cannot sell its products at home, it is unlikely to be able to do so internationally. There is world of difference between simple exporting, and a proper approach to international marketing. [7] p216-217 For CCC, selling oversea is attractive because it enlarges their market beyond the confines of the nation state. However, there are other benefits too, including: ? Opportunities for growth, higher earning and higher profits. ? The spreading of risk, by reducing dependency upon any one national market. ? The spreading of fix cost across increases sales. ? Competitors’ brand can be attacked in their own home market. ? An CCC competitive edge is sharpened, by it being required to compete with the best in the world. ? The contribution to CCC feel good factor if it succeeds. Conclusion CCC believes to drive the brand to the fullest success it can go. It will adapt to any changes for new products if it requires to society and consumers Sometime for consumer product change is good for international marketing. It is vital that the right product is made to suit consumers’ preference. CCC soft drinks did not appeal to the Japanese market; this meant CCC produced a product that the Japanese, Asian market would prefer. This was Asian tea, English tea, coffee and fermented-milk drink. Coke zero was brought out for the attention of men who where health conscious. Coke zero sounded less feminine like diet coke. CCC has shown that they will continue altering, improving and producing new ideas to attract to local taste. The CCC are always one step ahead of their game with their marketing effort. This has led them to profit throughout the years of developing into a billion dollar company. Their belief of being the best soft drink company worldwide has been their biggest accomplishment. CCC are not only involved with the best advertisement and marketing soft drinks, but also a difference in every corner of the world in which they operate. The Coca-Cola Company strives to go beyond simple marketing and reach into the hearts and lives of consumers. Bibliography [1] (2008). Portfolio. Available: http://www. thecoca-colacompany. com/citizenship/portfolio. html. Last accessed 25th Jan 2012. [2] (2012). 125 years of sharing happiness. Available: http://www. thecoca-colacompany. com/heritage/pdf/Coca-Cola_125_years_booklet. pdf. Last accessed 1st Feb 201 [3] (2012). Heritage. Available: http://www. thecoca-colacompany. com/heritage/ourheritage. html. Last accessed 1st Feb 2012. [4] (2012). Product Line. Available: http://www. hecoca-colacompany. com/brands/brandlist. html. Last accessed 1st Feb 2012 [5] Collin, P (1997). Dictionary of Marketing. 2nd ed. Middlesex: Peter Collins Publishing. p129 [6] Interbrand. (2011). Best Global Brand. Available: http://www. rankingthebrands. com/The-Brand-Rankings. aspx? rankingID=37year=368. Last accessed 1st Feb 2012. [7] Page, S (1995). Introductory Marketing. Cheltenham: Stanley Thorne s LTD. P18- 19, 40, 43,56-58, 72-76, 232-234 [8] Lancaster G Reynolds P (2002). Marketing made simple. Oxford: Butterworth- Heinemann. P14-18, 27-31,38-39, 120-123 How to cite Markerting Concept Coca Cola, Papers