Not everyone who might occasionally need to get on your network should have an allaccess, backstage pass. What could the company have done to reduce that risk? It could have placed limits on third-party access to its network — for example, by restricting connections to specified IP addresses or granting temporary, limited access.
So you have a great new app or innovative software on the drawing board. Early in the development process, think through how customers will likely use the product. Before going to market, consider the lessons from FTC cases involving product development, design, testing, and roll-out. Have you explained to your developers the need to keep security at the forefront? For example, according to the complaint in HTC America , the company failed to implement readily available secure communications mechanisms in the logging applications it pre-installed on its mobile devices.
The company could have reduced the risk of vulnerabilities like that by adequately training its engineers in secure coding practices. When it comes to security, there may not be a need to reinvent the wheel. Sometimes the wisest course is to listen to the experts. For example, Fandango and Credit Karma turned off a critical process known as SSL certificate validation in their mobile apps, leaving the sensitive information consumers transmitted through those apps open to interception through man-in-the-middle attacks.
The companies could have prevented this vulnerability by following the iOS and Android guidelines for developers, which explicitly warn against turning off SSL certificate validation. If your software offers a privacy or security feature, verify that the feature works as advertised. The lesson for other companies: When offering privacy and security features, ensure that your product lives up to your advertising claims. There is no way to anticipate every threat, but some vulnerabilities are commonly known and reasonably foreseeable.
In more than a dozen FTC cases, businesses failed to adequately assess their applications for well-known vulnerabilities. For example, in the Guess? When it comes to security, keep a watchful eye on your service providers — for example, companies you hire to process personal information collected from customers or to develop apps. Before hiring someone, be candid about your security expectations.
FTC cases offer advice on what to consider when hiring and overseeing service providers. Insist that appropriate security standards are part of your contracts. In GMR Transcription , for example, the FTC alleged that the company hired service providers to transcribe sensitive audio files, but failed to require the service provider to take reasonable security measures. As a result, the files — many containing highly confidential health-related information — were widely exposed on the internet.
For starters, the business could have included contract provisions that required service providers to adopt reasonable security precautions — for example, encryption. The Upromise case illustrates that point. There, the company hired a service provider to develop a browser toolbar. As a result, the toolbar collected sensitive personal information — including financial account numbers and security codes from secure web pages — and transmitted it in clear text.
By asking questions and following up with the service provider during the development process. If you develop your own software, how will people let you know if they spot a vulnerability, and how will you make things right?
FTC cases offer points to consider in thinking through vulnerability management. Outdated software undermines security. The solution is to update it regularly and implement third-party patches.
Depending on the complexity of your network or software, you may need to prioritize patches by severity; nonetheless, having a reasonable process in place to update and patch thirdparty software is an important step to reducing the risk of a compromise. When vulnerabilities come to your attention, listen carefully and then get a move on. Sometimes, companies receive security alerts, but they get lost in the shuffle. In Fandango , for example, the company relied on its general customer service system to respond to warnings about security risks.
The lesson for other businesses? Have an effective process in place to receive and address security vulnerability reports. Consider a clearly publicized and effective channel for example, a dedicated email address like security yourcompany.
Network security is a critical consideration, but many of the same lessons apply to paperwork and physical media like hard drives, laptops, flash drives, and disks. FTC cases offer some things to consider when evaluating physical security at your business.
In the Gregory Navone case, the FTC alleged that the defendant maintained sensitive consumer information, collected by his former businesses, in boxes in his garage. In each case, the business could have reduced the risk to their customers by implementing policies to store documents securely.
However, attacks targeting point-of-sale devices are now common and well-known, and businesses should take reasonable steps to protect such devices from compromise. Paul will also be shuttered. East Metro September The Star Tribune 50 is a measure of the largest publicly held companies with headquarters in Minnesota ranked by revenue. Medica and Mayo partner on new health plans Minnetonka-based insurer to offer access to clinic as it courts business.
The Swiss firm Mercuria has ties to company that failed earlier and declared bankruptcy. US consumer prices rose an annual 2. Serena Williams spoke to 3, employees at annual meeting in Minneapolis. Weekly feature Outside Consultant updated 21 hours 15 mins.
Answers to your questions about marketing and business in the Twin Cities. First National Bank in St. Paul to soon be converted into apartments Renovation of the iconic St. Specific — Be precise about what you are going to achieve Measurable — Quantify you objectives Achievable — Are you attempting too much? Realistic — Do you have the resource to make the objective happen men, money, machines, materials, minutes?
Timed — State when you will achieve the objective within a month? Promotional Objectives To increase awareness of the product on the market. Objectives for Survival To survive the current market war between competitors. The target market is the group of customers on whom the business focuses attention. The target market is where Coca Cola focuses its marketing efforts as it feels this is where it will be most productive and successful. Most Coke products satisfy all age groups as it is proven that most people of different age groups consume the Coca Cola product.
This market is relatively large and is open to both genders, thereby allowing greater product diversification. There are four broad ways which Coca Cola can segment its market: Each group of beverages satisfy a particular group of people but majority the average human. This is where the marketing tactics for each product are determined. In this step of the marketing planning process, marketing mix must be designed to satisfy the wants of target markets and achieve the marketing objectives.
The most successful businesses have continually monitored and changed their marketing mix due to respective internal and external factors and have monitored the external business environment in order to maximise their marketing mix components.
Many Products are physical objects that you can own and take home. But the word product means much more than just physical goods. In marketing, product also refers to services, such as holidays or a movie, where you enjoy the benefits without owning the result of the service.
Businesses must think about products on three different levels, which are the core product, the actual product and the augmented product. The core product is what the consumer is actually buying and the benefits it gives. Coca Cola customers are buying a wide range of soft drinks. The actual product is the parts and features, which deliver the core product. Consumers will buy the coke product because of the high standards and high quality of the Coca Cola products.
The augmented product is the extra consumer benefits and services provided to customers. Since soft drinks are a consumable good, the augmented level is very limited. But Coca Cola do offer a help line and complaint phone service for customers who are not satisfied with the product or wish to give feedback on the products.
Positioning is the process of creating, the image the product holds in the mind of consumers, relative to competing products. Coca Cola and Franklins both make soft drinks, although Franklins may try to compete they will still be seen as down market from Coca Cola. Positioning helps customers understand what is unique about the products when compared with the competition. Coca Cola plan to further create positions that will give their products the greatest advantage in their target markets.
Coca Cola has been positioned based on the process of positioning by direct comparison and have positioned their products to benefit their target market. Most people create an image of a product by comparing it to another product, thus evident through the famous battles between Coca-Cola and Pepsi products.
Companies such as Nike and Adidas spend large amounts of money trying to win consumers away from their competitors who make products that are very similar. The popularity of the brand is often the deciding factor. Over the time Coca Cola has spent millions of dollars developing and promoting their brand name, resulting in world wide recognition.
There are a number of branding strategies: Packaging protects the product during transportation, while it sits in the shelf and during use by consumers, it promotes the product and distinguishes it from the competition. Packaging can allow the business to design promotional schemes, which can generate extra revenue and advertisements.
Price is a very important part of the marketing mix as it can effect both the supply and demand for Coca Cola. Price will often be the difference that will push a customer to buy our product over another, as long as most things are fairly similar. For this reason pricing policies need to be designed with consumers and external influences in mind, in order to effectively achieve a stable balance between sales and covering the production costs.
Price strategies are important to Coca Cola because the price determines the amount of sales and profit per unit sold. Businesses have to set a price that is attractive to their customers and provides the business with a good level of profit. Long before a sale was ever made Coca Cola had developed a forecast of consumer demand at different prices which inevitably determined whether or not the product came on the market, as well as the allocation of adequate money and resources to produce, promote and distribute the product.
There are 5 strategies available to business: Over the years Coca Cola has used Penetration Pricing as a way of grabbing a foothold in the market and won a market share. Once customer loyalty is established as seen with Coca Cola it is then able to slowly raise the price of its product.
There has been a fierce pricing rivalry between Coca Cola and Pepsi products as each company competes for customer recognition and satisfaction. Till now it appears as if Coke has come up on top, although in order to gain long term profits Coke had to sacrifise short term profits where in some cases it either went under of just broke even, but as seen it has been all for the best. Good pricing decisions are based on an analysis of what target customers expect to pay, and what they perceive as good quality.
If the price is too high, consumers will spend their money on other goods and services.
A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a .
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