Selling is the final stage in marketing which puts the plan into effect, which also includes pricing, promotion, place, and product the 4 P's. A marketing department in an organization has the goals of increasing the desirability and value to the customer and increasing the number and engagement of interactions between potential customers and the organization. Achieving this goal may involve the sales team using promotional techniques such as advertisingsales promotionpublicityand public relationscreating new sales channelsor creating new products new product developmentamong other things. It can also include bringing the potential customer to visit the organization's website s for more information, or to contact the organization for more information, or to interact with the organization via social media such as TwitterFacebook and blogs.
Lloyd's hearings resume Lloyd's of London returns to court today in its attempts to recover funds from non-paying names. Lloyd's hopes to secure Order 14 judgments in three test cases, setting a benchmark for future debt recoveries. The hearing opened in December.
Arguments on behalf of names in Canada will be heard on Monday.
Judgment is expected towards the end of the month. A separate case alleging fraud in the insurance market is due to open in he High Court this month. Some names will receive two cheques, making it difficult to tell how many people have received payment so far.
Lloyd's has been criticised for delays in distributing funds to names. Lioncoverthe company set up to handle claims from the PCW scandal of the Eighties, has still not been transferred into the rescue vehicle, Equitas.
Lloyd's chairman Sir David Rowland has overcome worse problems in his time.
But the situation is symptomatic. Legal battles continue in the US, where Names investors are making progress in their claim to sue in US courts instead of in Britain.
There is continuing uncertainty over the exact size of final settlement payments due from names. Hugh crackdown on Lloyd's cheats The biggest crackdown on fraud, malpractice and incompetence in a City institution is under way at the Lloyd's insurance market.
David Gittingsdirector of Lloyd's regulatory division, is leading 63 investigations into many of Lloyd's Insurance brokers and underwriting agents, who look after the affairs of investors, known as Names.
Information collected during six inquiries has been passed to police around the country for possible action against the firms and individuals involved. More than a dozen underwriting agents face expulsion from the market because they failed to observe best business practice when managing investors' affairs.
Some firms may be forced to close or merge because they do not satisfy Lloyd's requirements, while others may have their licences at Lloyd withdrawn. A new regulatory plan for Lloyd's is due to be unveiled tomorrow. It will stress the commitment of the market's regulators to stamp out abuses. Gittings is a former director of surveillance at the Securities and Futures Authority, the main regulatory body for share dealing and future trading.
He took on the role at Lloyd's just over a year ago and has initiated 27 investigations. When he arrived 36 were already in progress and have yet to be completed.
Lloyd's plans to implement tougher regulatory regime Lloyd's of London has unveiled a tough new regulatory regime which will lead to speedier investigations and threatens tighter scrutiny of Lloyd's brokers.
New rules to protect names and corporate members are planned under the offensive, which will see a market expansion of disciplinary and enforcement teams. The drive is underpinned by the appointment of a new head of regulatory proceedings, Noel Lawson, who was director of supervision at the London Commodity Exchange.
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