Market segmentation approaches Essays

Market segmentation approaches Essays Market segmentation approaches Essay Market segmentation approaches Essay Coca Cola Market Segmentation Approaches The Coca Cola product in question is the Minute Maid Just 10 juice that is consumed by over a billion people throughout the whole world. Geographically, Coca Cola should approaches should be broad-based and undifferentiated. They should perceive the market as comprising of many customers having a fundamental desire that must be satisfied. For instance, it can be assumed that nearly all customers who want to purchase Coke have a thirst need. While this is possibly the largest market that any company would seek, they have no products that would appeal to all consumers globally as people have different tastes, preferences and requirements. Globally, Coke has an approval among the young generation that is made up mostly of teenagers, working class and other youthful individuals. This market segment is the most lucrative for Coca Cola Company as its main features include an access to income or money, increased social activity as well as varied tastes when it comes to soft drinks. Coca Cola should also focus on segments having high incomes such as white-collar professions. Lastly, Coca Cola also targets children as they consume a considerable amount of cola products and they have a hold on their parents who supply the income. In terms of demographics, it follows a similar fashion to that of geographic segmentation where the parent company has subsidiaries all over the world that have a high degree of autonomy (Ryan et al 45). This autonomy should be reinforced to allow subsidiaries to make geographical-specific decisions that will boost growth and revenue margins. The reason for recommending these approaches is to maximize the profits and achieve the goals set by the company. Within the present economy, tailor-made approaches stand a better chance of being successful when compared to conventional and universal approaches that lack applicability in different circumstances (Ryan et al 4). Minute Maid is positioned as a drink for individuals who are generally mobile and active. Minute Maid Just 10 is the perfect drink for healthy, stress-free consumption at any time of the day. This is because it is provides essential minerals such as potassium, calcium as well as vitamin C extracted from real fruit juice and very low in calories. The Sunkist Company applies the undifferentiated marketing strategy by completely ignoring the segment differences and attracting the entire market with one strategy. The company main products are citrus fruits particularly oranges and lemons. The Unilever Company applies differentiated marketing strategy throughout its subsidiaries across the world. Within Sub-Saharan Africa where the purchasing power is low, the company has developed smaller sizes of the same products to enhance purchases. This is slightly different from their product in developed states that are bulkier and sold at relatively higher prices. Concerning the concentrated marketing strategy, the Toyota Company applied it in the development of the hybrid market that began with the Prius model. After the inception, the company increasingly focused on developing hybrid vehicles such as the Toyota Camry and Toyota Highlander. The company was able to get more customers by focusing on eco-friendly products (Ryan et al 18). Lastly, customized marketing that involves designing a particular product to meet the exact needs of a customer. Companies that use this type of marketing include website builders such as Wix. The Wix Company allows users to customize their products to their needs and standards before purchasing them. Marketing products this way ensure that in the end, the customer has to buy the product as he/ she finds exactly their preferences. Customized marketing is however reserved for unique or expensive product as it takes a lot of time and resources before a product is selected, customized and finished to the customer’s preferences. This is considered the highest type of target marketing. Work Cited Ryan, Damian, and Calvin Jones. Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation. London: Kogan Page, 2009. Print.

Welcome to The Essay Experts MBA Admissions Blog!

Welcome to The Essay Experts MBA Admissions Blog! The Essay Expert looks forward to providing value to MBA and EMBA applicants in two major ways: 1) by offering MBA admissions consulting services and 2) by sharing interesting and useful information in our MBA Admissions Blog. This blog is a forum to discuss issues of concern to MBA and EMBA applicants. We look forward to sharing our take on a wide range of issues so that you will be poised for success as you enter the application process. Youll see many items here written by our newest and most senior admissions consultant, Larry Sochrin. Larry is one of the most experienced MBA admissions consultants in the business, having worked in this field for over 14 years. He holds an MBA from Wharton, and previously interviewed applicants to the school as an alumnus. A senior trainer, Larry has delivered seminars for groups of admissions consultants on topics ranging from interviewing to applying to international MBA schools. He has also given training seminars for prospective business school applicants, as well as for firms who offer admissions consulting support as an employee benefit. Larry has guided clients through several thousand MBA applications. He has answers to just about every possible question you might encounter as you go through the admissions process. Category:UncategorizedBy Brenda BernsteinNovember 17, 2011

Establishing an Illegal Business Essay Example | Topics and Well Written Essays - 1000 words

Establishing an Illegal Business - Essay Example Establishing an Illegal This paper shows how to establish a lucrative ecstasy-manufacturing firm in the country The medical department refers to ecstasy to be illegal since there is drug has no medicinal value. They argue that the drug has effects on the human brain with effects such as hallucination. Despite the medical reasons, the drug still attracts a large market demand. At this point, the first steps of starting a business are in place. The beginning tasks such as the product type and the size of business is already in place. The second step involves being aware of the customers’ needs. The main customers of the product would target the young generation. The young generation holds the largest demand for the ecstasy drug. There should be enough information concerning the manufacture and distribution of the drug. To have a proper network that would coordinate the flow of the drug; the firm would work closely with other distributors and study how the drug rotates. Next is to identify the area that would best fit the establishment of the company. The area should be one that does not attract any suspicion to the authorities. The best way would be to establish a camouflage firm that would cover the identity of the drug. Identification of financial, natural, man-made and human resources for the firm should be available freely. A business plan would assist with the planning and calculation of the requirements. This is the trickiest part before the actual running of the operation. At this point, it would be difficult to trust the operators for information. In addition, the government has spies from top agencies that are out to fight the production and distribution of drugs. Therefore, as the planning occurs, the company would import the products from outside countries to test the market (Koellhoffer 24). Importation would need the firm to seek creative methods that would challenge the border security. The government concentrates on cracking down on drug traffickers along the Mexic an border and major airports. The security is tight in those areas because Mexico is a major drug trafficking country. The government has produced information that links drug trafficking to the Islamic terrorist groups. Associating with the terrorist groups openly, would link the firm to drug trafficking, thereby, blowing its cover (Brott 48). There would be need to establish connections along the customs officials that would assist in importing the products. After making the order from the outside country, the firm would claim to be importing materials to set up a local pharmaceutical firm. In the process of importing the materials, the firm would smuggle some quantities of ecstasy to try into the market. The operations at the customs would require the influence of powerful individuals in the country to see to it that the drugs come in. As mentioned above, drug business is a billion dollar enterprise headed by powerful people in the country. Many of the firm’s expenses would include paying off powerful individuals who influence the drug trade in the market (Harvard Business School 67). Ones the drug is in the market, the firm would begin by first having agents who distribute at parties. Through this, the agent would interact with other drug agents from other countries. Soon the drug distribution system will be in place, enough for the firm to supply to the other agents from different drug cartels. Once the firm establishes the proper networks necessary to meet the requirements for profitable

English paper . Williams in the american grain Essay

English paper . Williams in the american grain - Essay Example The American dominance over the world, prevalent still, can be traced backed to this psyche of these heroes. But De Soto also had the added advantage of being very tactical. He was able to convince the native tribes that he was of divine origin and thus posed before them as a formidable god. When we study the period of De Soto, thus the power of negotiation can be seen slowly gaining ground at par with the power of weapons and riches. Survivalism was the ideology that unknowingly led all the conquistadors win their battles without bothering about hurting others. This kind of survivalism still runs deep in the blood of Americans. As described in the introduction to the book by Horace Grigory (p.17 of Introduction, Williams) the American tradition is characterized by the â€Å"impulse to make all things new, to build new cities†¦ to abandon projects with the scaffolding in the air,†¦(and)†¦to move onward to another El Dorado.† De Soto’s adventures also fit into this profile. The ability to endure and then rise from one’s own ashes like a phoenix are also some other attributes of these earlier Americans and the modern ones. Thus the collective American personality was built through the lives of these heroes and villains of history and has its roots in the mental fabric of these early founders and explorers. One criticism that arises in one’s mind after reading of â€Å"In the American Grain† is that whatever the author makes out as the â€Å"American grain†, can also be equally and logically attributed to the whole of humanity. The instinct to find new worlds, to create new things and the ‘El Dorado’ mindset are convincingly universal rather than American. William has contented that â€Å"there is a source in AMERICA for everything we think or do; that morals affect the food and food the bone, and that, in fine we have no conception at all of what is meant by moral, since

University of chichester Essay Example for Free

University of chichester Essay From 1976 to 1991, UK has witnessed major changes in its education system. Since early 90s, changes would include transformation in its structure, essential nature and even purpose. The driving force behind this is legislation and national funding policies which brought about sociological and epistemological change. (Skinner 2006) For instance, the British Council – the international organisation for cultural relations and educational opportunities of the United Kingdom – has been an important agent of this transformation as it promotes UK education in over 100 countries where it has an established presence. With the increase influx of international students, a study of this topic would inevitably help develop a more effective marketing scheme for UK as essential market intelligence can be derived from such study, helping higher education administrators improve their standards which is hoped to attract and even more number of international students. The long-term goal of this paper is to provide important information which could help establishing the UK as the premier international education provider. 2. 1 Background of the Study Approximately ? 5 billion annually is contributed by International students to the economy of the United Kingdom. (Department for Children, Schools, and Families 2006) In line with this, Tony Blair, the Prime Minister of the United Kingdom launched a campaign to encourage more international students to study in UK. He also sought building partnerships between universities and colleges in the UK with those abroad. The campaign, the Prime Ministers International Education Initiative (PMI) is based on its phase 1 implemented between the 1999 and 2005 where a unified effort in the promotion of UK education overseas was undertaken. In this next phase, a wider international agenda is expected to be address and and increased funding from the Government, the British Council and the education sector is expected. (Department for Children, Schools, and Families 2007) In view of this, data gathered from this study can be used, among others, in achieving these goals set by the Prime Minister. Although the University of Chichester is just one of the universities in the region, principles derived from the findings in this study can be adopted to suit local conditions in other universities and colleges. In this way, it is hoped that findings from this study can help not only the education sector but also the economy of the nation as whole since having more international students translates to more funds for the economy as reported earlier in this section. 2. 2 Objectives This paper aims to provide insights on why students come to the University of Chichester. This is achieved by investigating the current performance of the university from the point of view of the studentry, reviewing its current approach to international education, and proposing recommendations to improve its education program for the international students with emphasis given to sustainability of success. This paper would focus on providing insights as to why students come to the University of Chichester. In order to to this qualitative and quantitative research methodologies would be used. The qualitative aspect of this research would focus mainly on the review of related literature but would also include findings from some of informal interviews conducted. The qualitative aspect, on the other hand, would deal with drawing out insights from currently enrolled international students at the University of Chichester. Both the results of the qualitative and quantitative methods would be considered together to validate each other so that reasonable conclusions can be made and feasible recommendations can be formulated. 2. 4 Limitations The literature review would primarily focus on the policy of the United Kingdom regarding encouraging international students to attend UK universities as well the environmental and internal context of the University of Chichester. A working definition of international education and international students would be developed and the entire paper would hinge only on these definitions. For instance, when in the later chapter, an international student is said to be interviewed, it is understood that this international student met all the qualifications described in the working definition of an international student. Also, the findings, conclusions and recommendations for this paper, although was aimed to be usable to other universities so that the goals of the second phase PMI may be achieved, are all in the context of the University of Chichester. Therefore, attempts to apply this to other universities necessitates contextualization.

Diamonds :: essays research papers

A Diamond is one of the two natural minerals that are produced from carbon. The other mineral is Graphite. Even though both of these minerals are produced from the same element ,carbon, they have totally different characteristics. One of the most obvious difference is that Diamond is hard and Graphite is soft. The Diamond is considered to be the most hardest substance found in nature. It scores a perfect ten in hardness. Because of its hardness a tiny Diamond is used as a cutting and drilling tool in industry. Even the Greeks called the Diamond â€Å"adamas† which means unconquerable. Diamonds also conducts heat better than any other mineral .   Ã‚  Ã‚  Ã‚  Ã‚   Diamonds come in several different color shades such as, yellow, blue, green, or pink. One reason why a Diamond has different colors is through the processes involving heat and radiation. Another reason is that 99.5% of a Diamond is Carbon and the rest are different trace elements. These 0.5% of elements are the reason why a Diamond has different color shades. For example Nitrogen causes it to have a yellow tint , and Boron a blue shade. The pink color in some Diamonds are thought to be caused by deformation of the atomic structure of the diamond crystal. A pure Diamond , which would be 100% carbon, is colorless Diamonds were created million years ago, when the earth was formed, the material experienced pressure of 5million times the atmosphere at sea level and temperatures between 1000~1200degreesC. These conditions caused carbon in the layers inside the planet to crystallize into diamonds. The diamonds moved up to the earth’s surface through volcano eruptions. This is why many Diamond mines are near volcanoes. Diamonds occur in two types of rock: Kimberlite and Lamprolite. Diamonds are mostly found in South Africa, India, Brazil, Russia, Australia, and Arkansas. Right now about 100million carats are mined each year. Today the largest cut Diamond in the world is the Cullian I at 530.2ct . The unit cell of a Diamond is cube. Five carbon atoms form tetrahedra at the cube corners , at the centers of each of the cube faces, and at four sites within the cube. The carbon atoms are located at the center of each tetrahedron . The carbon tetrahedra are covalently bonded, which explains why diamonds are extremely hard. The toughness of the Diamond comes from four planar directions of weakness , it is called octahedral cleavage .

Why did Stalin emerge as the leader of the USSR in 1929? Essay

There are many reasons why Stalin emerged as the leader of Russia, some of these are due to his intelligent mind and determination for power, others because of his criminal mind-set and willingness to overcome his rivals. The most important reason why Stalin emerged as leader of the USSR is because he manipulated his party members and his own place within the party, he did this by recruiting his friends and supporters into the party after the Lenin Enrolment, as well as this Stalin removes any competition within the party that may contribute to a threat, this shows how Stalin abuses his own position in the party to manipulate everyone into getting what he wants. Having his supporters within the party, Stalin could not be voted out or overpowered within the party. One of the important reasons why Stalin emerged as leader of the USSR is because of his individual factors, because of Stalin’s previous convictions of bank robbery and treachery he was not trusted straight away, but because he is devious and knowledgeable person he stayed back in the party until the right moment struck, when Lenin had the stroke, Stalin saw his opportunity to get into the hierarchy of the party, this shows that Stalin’s devious mind played a large part of why Stalin emerged as the leader. Stalin’s personality served him well to becoming the leader of the USSR, this is shown when he sent a telegraph to Trotsky explaining when the funeral of Lenin was, unknown to Trotsky, Stalin had actually gave him the wrong date and made a big funeral, this was seen as Trotsky being dishonourable, making him less likely to succeed Lenin, this improved Stalin’s chances of succeeding as Trotsky was him main competition. The true nature of Stalin’s p ersonal traits is shown when he keeps Lenin’s testament secret, knowing what Lenin thinks of him Stalin seems motivated to win leadership, by being devious Stalin stopped the corruption of Lenin’s testament getting publicised therefore making him in line for leadership.

Puberty Mini Essay

Puberty Mini Essay There are many factors that affect the timing of puberty. A large factor is genetics, because it later causes the onset of other factors as well. It’s said that maturation and puberty are determined by genetic forces and can be different depending on ethnicity as well. Children in the US seem to mature and hit puberty faster than Asian Americans, while African Americans are ahead of the US. Massimo Mangino, author from the Twin Research Department at King's, says: â€Å"It is fascinating how common genetic variants influence both early puberty and weight gain. With that said obesity is another factor and is becoming an epidemic in this country. Obesity can almost guarantee the girl will have an early start into puberty and can later lead to a higher risk of psychological problems, risk-taking behavior, and even future breast cancer. But the opposite effect of obesity on pubertal timing may occur in boys. Studies have shown that early maturing boys seem to h ave a lower rate of obesity when compared with boys with normally or later timed puberty. Another factor is anxiety/stress.When there is a higher level of stress on the child it tends to prompt the body to send the hypothalamic signal and cause the child to reach puberty at a younger age than normal. Since this sends the child into early puberty, it can affect them with aggression and antisocial behavior as well later on. But on the other side of this, it can also delay puberty as well; it typically relies on the type of stress and the environment of the stress. If the living conditions are poor and there is little food, the stress can lead to a delay of maturation.Early puberty onset for females can be much more damaging than later onset. Females who start puberty early are at higher risk for problems and cancer later in life and usually have a negative body image as well. Earlier puberty onset for males is not as damaging as it is on females though. Sometimes it is seen as a head start in some cultures. If the male is strong and larger than his peers he is looked up to. If the male has a later onset of puberty he may have a different appearance than his peers and may be picked one which can cause a negative body image as well.Works Cited Belsky, Janet (2010). Experiencing the Lifespan (2th Ed). New York: Worth Publishers Yuen, F. The Onset of Puberty. http://www. soc. hawaii. edu/leonj/409as98/yuen/famr499. html Walvoord, E. (2010). The Timing of Puberty: Is it changing? Does It Matter? Journal of Adolescent Health, 1–7. (Kings College London, 2010) Researchers discover common genetic variants influence early puberty, body fat. http://www. news-medical. net/news/20101122/Researchers-discover-common-genetic-variants-influence-early-puberty-body-fat. aspx

Healthcare Staffing Shortage Example

Healthcare Staffing Shortage Example Healthcare Staffing Shortage – Coursework Example Healthcare Staffing Shortage al Affiliation Healthcare Staffing Shortage Manpower is the most important resource in any healthcare settings. Human resource managers should ensure that they are able to attract and also retain the best workforce in the setting. This can be ensured through a comprehensive framework for selecting, on-boarding and inducting the best personnel in healthcare institutions. There are various ways that human resource managers can deal with the problem of staff shortage in hospitals. This paper will explore the options that a manager may consider.Public-private PartnershipThis option involves having the public and private health institutions working together to ensure that healthcare delivery has the best personnel. The partnership also ensures that all the terms and conditions in both are similar thus reducing the rate of turnover in both (Isgur, 2008). Further, the partnership goes to the extent of ensuring quality training of healthcare professionals. Facult y training and programs promotion is one of the fruits of such a partnership.Technology-driven TrainingTo reduce the number of personnel required in an institution, embracement of technology is key. When technology is well applied in the healthcare setting, there is time saved for patients care and performance of other activities that cannot be mechanized (Isgur, 2008). Selecting staff who have technical skills is therefore important.Conducive Working SpaceThe best employees are attracted and retained in working environment that are safe and conducive. Currently, flexibility of roles ensures that employees feel satisfied and free rather than being tied up by roles (Isgur, 2008). Managers should ensure this flexibility is there and maintained. When this is so, competitive staff are easily attracted and retained.Performance Review and FeedbackThrough review of employees performance, managers are able to identify areas that employees feel need changes and rectify (Isgur, 2008). Providi ng positive review feedback helps to develop employees and encourage them.References Isgur, B. (2008). Healing The Health Care Staffing Shortage. Trustee.

The Impact Engel v. Vitale Had On Prayer in Schools

The Impact Engel v. Vitale Had On Prayer in Schools What authority, if any, does the U.S. government have when it comes to religious rituals like prayers? The Engel v. Vitale Supreme Court decision of 1962 deals with this very question. The  Supreme Court ruled 6 to 1 that it was unconstitutional for a government agency like a school or government agents like public school employees to require students to recite prayers. Heres how this ultimately important church vs. state decision evolved and how it ended up before the Supreme Court. Fast Facts: Engel v. Vitale Case Argued: April 3, 1962Decision Issued:  June 25, 1962Petitioner: Steven I. Engel, et alRespondent:   William J. Vitale, Jr., et alKey Question: Does recitation of a nondenominational prayer at the beginning of the school day violate the Establishment Clause of the First Amendment?Majority Decision: Justices Warren, Black, Douglas, Harlan, Clark, and BrennanDissenting: Justice StewartRuling: Even if the prayer is not nondenominational nor is participation mandatory, the state cannot sponsor prayer in public schools. Engel v. Vitale and the New York Board of Regents The New York State Board of Regents, which had supervisory power over New York public schools began a program of â€Å"moral and spiritual training† in the schools which included a daily prayer. The Regents themselves composed the prayer, in what was intended to be a non-denominational format. Labeled the â€Å"To whom it may concern† prayer by one commentator, it stated: Almighty God, we acknowledge our dependence upon Thee, and we beg Thy blessings upon us, our parents, our teachers and our Country. But some parents objected, and the American Civil Liberties Union joined with 10 of the parents in a suit against the Board of Education of New Hyde Park, New York.  Amicus curiae (friend of the court) briefs were filed by the American Ethical Union, the American Jewish Committee and the Synagogue Council of America supporting the lawsuit, which sought to remove the prayer requirement. Both the state court and the New York Court of Appeals allowed the prayer to be recited. Who Was Engel? Richard Engel was one of the parents who objected to the prayer and filed the initial lawsuit. Engel has often said that his name became part of the decision only because it came ahead of the other parents names alphabetically on the list of plaintiffs. Engel and the other parents said their children endured taunting at school because of the lawsuit, and that he and other plaintiffs received threatening phone calls and letters while the suit made its way through the courts. Supreme Court Decision in Engel v. Vitale In his majority opinion, Justice Hugo Black sided substantially with the arguments of the separationists, who quoted heavily from Thomas Jefferson and made extensive use of his â€Å"wall of separation† metaphor. Particular emphasis was placed upon James Madison’s â€Å"Memorial and Remonstrance against Religious Assessments.† The decision was 6-1 because Justices Felix Frankfurter and Byron White did not take part (Frankfurter had suffered a stroke). Justice Stewart Potter was the sole dissenting vote.   According to Blacks majority opinion, any prayer created by the government was akin to the English creation of the Book of Common Prayer. The Pilgrims came to America originally to avoid exactly this type of relationship between government and organized religion. In Blacks words, the prayer was â€Å"a practice wholly inconsistent with the Establishment Clause.† Although the Regents argued that there was no compulsion on students to recite the prayer, Black observed that: Neither the fact that the prayer may be denominationally neutral nor the fact that its observances on the part of students is voluntary can serve to free it from the limitations of the Establishment clause. What Is the Establishment Clause? This is the portion of the First Amendment to the U.S. Constitution which  prohibits the establishment of religion by Congress. In the Engel v. Vitale case, Black wrote that the Establishment clause is violated regardless of whether there is any â€Å"showing of direct government compulsion...whether those laws operate directly to coerce non-observing individuals or not.† Black pointed out that the decision showed great respect for religion, not hostility: It is neither sacrilegious nor antireligious to say that each separate government in this country should stay out of the business of writing or sanctioning official prayers and leave that purely religious function to the people themselves and to those the people choose to look to for religious guidance. Significance of Engel v. Vitale This case was one of the first in a series of cases in which a variety of religious activities sponsored by the government were found to violate the Establishment Clause. This was the first case which effectively prohibited the government from sponsoring or endorsing official prayer in schools. Engel v. Vitale got the ball rolling on separation of church and state issues in the latter half of the 20th century.

Financing of Working Capital and the Money Markets Essay

Financing of Working Capital and the Money Markets - Essay Example [http://www.hnb.hr/financijska_stabilnost/efinancijka_sustav.htmtsfsg=79cfa8abff72343c706696777f2a1c18]. The most marketable money market security available in Croatia are the "Government Treasury Bills" that are issued with the maturity deadline of 91, 182 and 364 days [http://www.mfin.hr/en/public-debt]. The second form of money market instrument used in Croatia is the "Certificate of Deposit" that is issued by commercial banks and available through brokers. Certificate of Deposit is a kind of time deposit offered by banks to corporations, local & state governments, and foreign investors that competes with other instruments of the money markets. It is the mechanism by which banks consolidate surplus funds from entities and lend them to other entities in need of short term funds whereby they make money by charging higher interest rates to borrowers than what is offered to the depositors. Hence banks function as financial intermediaries that are primarily interested to channel money to the customers paying highest interest rates and manage the risk of defaults effectively. They compete in the money markets primarily by virtue of their services and interest rates (McKinney Jr. 1967. pp71-73). In Croatia, the certificate of de... Banks prefer to pool certificate of deposits from smaller investors and lend limited money to borrowers to reduce risk of defaults. Hence, such instruments are used primarily for short term cash requirements by firms. On the other hand, treasury bills allow deposits of large amounts and are also tax free. Firms can purchase treasury bills for as short as 91 days using surplus cash and achieve returns that are realized at the maturity. Given that treasury bills are available through auctions, firms can plan the minimum desirable returns that they plan from the T-bills. Some firms also prefer investing in treasury notes issued by Croatian government. The current accounts held by the firms for receivables & payables does not provide any returns and hence the firms are compelled to invest in such short term highly secured financial instruments in Croatia. To avail short term loans from banks, the Croatian firms avail bank acceptance & letter of credit in which the treasury bills become h andy as they are considered as kind of secured collaterals by the banks when issuing the finance. The difference between interest paid to bank and the return from treasury bills reduce the interest burden on the firms from short term financing. The other form of short term financing popular in Croatia is Commercial Paper. As defined by Nayar and Rezoff (1994. pp1433-1434) that Commercial Paper issues with backup lines of credits from banks ensures higher ratings and hence both are almost always simultaneously used. Moreover, unrated Commercial Papers (without bank's credit guarantee) are subject to negative perceptions and hence are not preferred. Overall, money