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Non-Market Strategy Project-Pollution/Politics/Business
Globalization has changed the planet in numerous ways, constructive and unconstructive; perhaps the most influential of these changes has been the more explicit and perhaps a far more extreme commoditization of a number of natural resources and basic human demands. Traditionally, it's the limited nature of a specific resource or product that means it is a saleable resource, and this conclusion leads to the decision on its sales price as well as the marketing strategies needed to introduce it to a specific target market and varying resulting in the creation of opportunities to make profitable returns for the organizations and countries involved in its manufacture; but that is the case when generally speaking and not, however, the specific problem in Nigeria. The emphasis placed on the energy and power industry from the early stages of the 20th century has resulted in a substantial number of countries, for…… [Read More]
Marketing Strategy of Wal-Mart Retail Chain: An Analysis
Wal-Mart's history is an example of innovation, leadership and success in a company. It began as a single store in Rogers, Arkansas in 1962 and has become the world's largest retailer (Slater, 2003). Wal-Mart is often looked to as the industry trendsetter. The company enjoys annual revenues of over $100 billion, 3,200 stores and nearly one million employees around the world.
Wal-Mart operates each store, from its products to the technical equipment that helps speed up checkout times, with a single philosophy: provide everyday low prices and excellent customer service (Slater, 2003). Its rock bottom prices eliminate the need to spend money on frequent sales promotions, and its sales are more predictable.
Wal-Mart has invested a great deal of money in its unique cross-docking inventory system (Slater, 2003). Cross docking allows the company to achieve economies of scale that reduce its costs…… [Read More]
Brief description of the organization and its industry
Vision & Mission Statements of Apple Inc.
External Environmental Analysis
Internal Business Environment Analysis
Strategies for Apple
Brief description of the organization and its industry
Strategic planning can be defined as the process where the company objectives and goals are formulated and several processes are used to implement the formula to achieve the goals. The formulation of the processes need to be done keeping in mind the resources that are available with the company and the internal and external environment that the company is functioning in, specifically the position of the company with respect to the competitors and other external factors including financial and political aspects. (Nag, Hambrick and Chen, 2007).
This study would deal with the possible strategies that Apple Inc., our target company for discussion, should undertake in order to deal with the future challenges that the general…… [Read More]
There are a number of key opportunities in the Chinese market. McFarlan (2008) notes that China is in the midst of a profound long-run change, opening its economy gradually in an attempt to lift its entire population out of poverty. The central government has spearheaded this process, and retains a strong guiding role in the methods by which the economy will be opened. The Chinese market is huge, so any access to this market is a good thing. It is the largest market by population in the world. But just as important is that China has not simply opened its market, but embarked on strategies that have improved the country's standard of living. This means that not only are there 1.3 billion Chinese, but that they have experienced a strong, steady long-run increase in their economic output, their buying power and their access to and desire for consumer goods…… [Read More]
Implementing the Market Strategy
Just as important as developing the market strategy is the process of implementing the strategy. Implementation has its own set of challenges that have to be addressed, however. These include forming strategic partnerships, managing top-selling products, improving pricing strategies; developing sales Promotion, advertising and sale promotion strategies; developing digital strategies and measuring market performance. This paper will address each of these challenges and offer solutions for implementing the market strategy for OPG.
Strategic partnerships the company could develop to help promote both companies could be to look for a local brewer who is wanting to expand and partnering with that brewer to brew in the adjacent building owned by OPG. OPG wants to start brewing its own beer, but instead of hiring a brewmeister and investing in the brewing business, it may make more sense to partner with a small existing brewer and…… [Read More]
Many consumer electronics products including DVD players, TVs and PCs are produced with this strategy in mind. Imitators is the third follower strategy, and Chrysler, in designing the 300M grill work to resemble the Bentley automobile front grill is an example of this strategy. The final follower strategy is that of being an Adapter. Many of the Japanese auto manufacturers excel at this strategy, including Toyota and Hondo, who have through adaptation of car designs and more efficiency of production, have overtaken the American cars they were initially adapting from. This is particularly true with the Toyota Camry overtaking all mid-size sedans globally in sales, with over 40,000 sold per week in the United States alone. Of all follower strategies, the adapter one retains the greatest profitability over time.
Kotler (2005). Marketing Management. 12th Edition. Philip Kotler. Prentice Hall Publishing. Saddle iver, NJ.…… [Read More]
Strategic positioning means offering different goods and services from rivals or offering goods and services in a unique way.
The company must provide a unique product or service, in contrast to its rivals.
This might include offering a relatively narrow range of services to a broad range of customers or serving the many needs of a targeted niche market.
The reverse is also true: a company can serve broad needs for a narrow market and narrow needs for a niche market.
Strategy requires trade-offs: no company can do everything well and be all things to all people.
There must be a good 'fit' between disparate company activities to achieve organizational efficiency.
Operational effectiveness (OE) means performing certain actions better than competitors such as improving quality and speed.
A. OE has received increasing emphasis in management literature in recent decades.
B. Maximizing the productivity frontier to improve organizational efficiency is…… [Read More]
Strategic Management EVISED
Crocs Inc. is a publicly traded corporation on the NASDAQ under the symbol COX: the company completed its initial public offering in February of 2006, and is thus a little over eight years old. The Colorado-based company is known primarily for its brightly-colored foam-based shoes, which were first manufactured in 2002 as footwear for beaches and spas, but which quickly expanded. The company went public at the precise moment when its popularity with consumers was experiencing explosive growth, and thus the eight years as a publicly-traded corporation have been difficult and tumultuous. At its peak in 2006, shortly after the initial public offering, shares of Crocs Inc. traded at over sixty dollars apiece; in 2014, shares now trade at less than thirteen dollars apiece (Mattoli & Spector, November 2013, para.2). However, because of the limitations inherent in Crocs' business model, the company makes an excellent case study…… [Read More]
Market Model Patterns of Change
Market Model Pattern of Change
The market model industry I research on is the rental movie industry, which the Blockbuster video was the dominant product. This industry has undergone through gigantic market change over many years. Hollywood video is the national competitor; however, they often compete with the local and regional movie rental industries. The use of the new technology has significantly led to the competition among different companies. The market model pattern of change shows that the industry has competitors or not, also, the costs in the company.
Explain the industry and outline the overall wave of change of the specific market structure
The Blockbuster video once dominated the movie rental industry; this has changed enormously due to the competition in the entertainment market. The evolution of the new technology has led to multiple competitions and has changed the consumers' purchase of the rental…… [Read More]
Home Depot is a "category killer" retailer, selling supplies for home and garden. Home Depot operates with a cost leadership strategy, as it seeks to use its buying power in particular to offer customers a low price. Home Depot also incorporates a service element to its business model, something it hopes will give it a competitive advantage. Home Depot is currently undergoing a change in terms of its structure and culture, and this has caused some disruption. That said, Home Depot is the second-largest retailer in America behind Wal-Mart and has experienced strong sales improvements during the Nardelli years.
The competitive situation is intense. Home Depot is a dominant competitor in the industry, but faces strong competition from Lowe's, which is almost the same size. These two competitors operate as something of a duopoly, although in other businesses there are specialist firms that are strong competitors.…… [Read More]
That can get them into a lot of trouble.
In short, uncertainty is always going to be there in the business world. Nothing is one hundred percent certain when a person is owning and operating a business. During a time when economic uncertainty is higher than normal, there is even more uncertainty that has to be addressed. Overall, though, most uncertainty falls into levels one and two. By the time it has gotten to level three the economy and industry are both struggling and it may be better not to make any exotic or unexpected changes during that time. In level four, there is no need to start creating strategy. It is simply too dangerous to consider, because it offers too large of a range of choices to be seen. When it is completely impossible to address or even determine ever reasonable option or outcome that could occur, it is…… [Read More]
Over the last few years, the government has exerted more control on the insurance industry by controlling premium rates meaning the industry has become less competitive on pricing. In addition to this, through Obamacare, the government has set requirements for healthcare insurers which have significantly reduced their medical loss ratio Dinan 396.
The second factor that affects the degree of competitiveness of the industry is the number of companies operating in the industry. This has been the major reason for the hundreds of mergers in the industry since this is the major driving factor for changes in market share. The last factor is government-provided health insurance. The government provides insurance plans which create significant competition for the private companies Vanness and olfe 101()
The productivity measures that can be developed are the number of health insurance consumers, average cost of providing medical cover and price of health insurance premiums. The…… [Read More]
Market Model Changes
The medtech, or medical technology, industry is a large and intensely competitive industry that produces highly innovative medical devices for hospitals and other healthcare facilities in the effort to save lives and improve health for patients (Research, 2012). It is spread across different segments including, cardiology, oncology, neuro, orthopedic, and aesthetic devices. It relies largely on aging baby boomers, high unmet medical needs, and increased incidence of lifestyle diseases, including cardiovascular disease, diabetes, hypertension, and obesity.
The industry is being challenged by pricing concerns, hospital admissions and procedural volume, uncertainty concerning healthcare reform, Medicare reimbursement issues as agencies are looking for cost reduction measures, and regulatory overhang. There is a rise in patients deferring treatment in elective procedures. "One factor aligning economic and clinical forces: in the U.S., the number of medical practices owned by hospitals grew from 25% in 2005 to 50% in 2008" (practice, 2011).…… [Read More]
A directional strategy is a strategy to take the organization in a specific direction. For example Pepsi bought a ussian diary as part of its strategy to create a $20 billion nutrition business. This is not related to market conditions as such, just a focus on growing an area of business. In contrast, an adaptive strategy is one where the company needs a strategy to adjust to some sort of change in the marketplace. An example of this would be an old-school grocery store adding more organic foods to its shelves in response to that market trend.
A market entry strategy is a strategy used to enter a market. There are several of these: exporting, licensing, joint venture, and direct investment (QuickMBA, 2010). These work for entering new domestic markets as well. New products or changes to existing products would also qualify, perhaps, as entering a new market.…… [Read More]
One industry that has shifted in the past few years in terms of its structure is the smartphone operating system market. A few years ago, most of the early smartphones were based around proprietary operating systems. Palm and Blackberry dominated the market. Apple joined the industry with the introduction of the iPhone, but more recently other firms have entered the market as well, including Google (Android), indows, Symbian and other systems. The market has moved from a stable oligopoly of four firms basically between two firms into a market that is much closer to monopolistic competition. However, there is the risk that as operating systems shake out, the market could return to an oligopoly of just three operating systems (est & Mace, 2007).
In the short-run, firms in this industry will seek to gain market share through differentiation. The products are slightly differentiated from each other -- they…… [Read More]
com. In case of several companies, enhancing customer relationships is among the most capable features of e-commerce. However, whereas the Internet has presented the consent of a novel method to draw and communicate with the customer, hardly few enterprises have discovered a method to efficiently manage interactions with their customers on the Internet. (David, 2000)
The real skill is involved in making the device suitable to accomplishment of the business strategy and also makes profit persistently. (Howard, 1999) This makes McGrath and Heiens to describe the failures of Internet startups as a moot testimony that "the Internet is a tool, not a panacea" and that a "sound business strategy is always a prerequisite for success" Therefore, even though many successes have appeared to day on the Web in the online industry and in the digital forms in general still more are to be explored for accomplishing long-term goals of the…… [Read More]
The shared understanding is crucial in order to build strength and enough confidence necessary for the implementation of strategy and to necessitate evolution.
Second Phase: LG's strategic intent
In order to remain competitive, LG has to stick to its long-term vision which should act as stabilizers to the corporation in times of uncertainty. The vision in this case refers to as a statement of the things that can be achieved by the corporation. The concept of strategic intent is very crucial to the operating of a corporation since it acts as a magnet that pulls the present corporate dynamics and activities to the future. Any given strategic intent should be formulated in a manner that the corporation's remain with a large vision that can energize the workforce at all times. The formulation of new strategic intent options can help LG in capturing new markets while remaining competitive within the uncertain…… [Read More]
Just as Sarbanes-Oxley legislation created significant opportunities for management consultancies, the same holds true for sustainability requirements in European nations.
In conclusion, all management consultancies are attempting to position themselves as trusted advisors to firms looking to stabilizing existing sales while growing into emerging markets. Of the five included in this analysis, all also have social media channels that are well-populated with content meant to convey their thought leadership in specific areas as well. Yet in the area of equating strategies to IT investments, the majority take the approach that more IT spending is potentially the path out of strategies not performing well. Only the Boston Consulting Group takes a more strategic view of systematic change to businesses, choosing to layer in TI after the frameworks have been created. Their legacy strengths in the BCG and Growth/Share Matrices could be the impetus for this approach. Despite that fact, Boston Consulting…… [Read More]
Market penetration is one strategy that many businesses consider when they decide to expand their business operation to other regions but within the same market. Market penetration usually involves the establishment of business relationship to other region. With market penetration, businesses will be able to measure their success. For instance, the measure of percentage of sales in different region is one way to determine where a company is harvesting success and where it needs improvement in terms of operation and provision of services.
An example of a company that successfully gains from market penetration is FSI International, Inc., a supplier of surface conditioning equipment and technology for microelectronics manufacturing (FSI-International.COM). Since FSI decided to penetrate the Asian market with direct sales and support, they found a considerable growth in revenue. According to Electronic News Online, 40% of FSI's current sales in 2004 were from Asian customers. This is equivalent to…… [Read More]
For this type of customers, Diesel should create a special line of clothing items, different from the one for the primary target customers. For the primary target customers the central piece is the jeans. For the secondary target customers Diesel designers should combine jeans with other clothing items that are best suitable for 25-35 aged customers, that have good jobs and that are present in high social circles. For the secondary target customers the price should be significantly higher than the price for the primary target customers. The secondary target customers are trying to buy a certain status together with the clothing items they buy, so the higher the price of the clothes, the higher the status they are achieving. Other than this, the price should reflect the work invested in creating these clothing items, which require extra care for the secondary target customers.
As mentioned above, the communication strategy…… [Read More]
Of course, this is a good thing for customers on short-term, but is negatively affects other companies on the market. This is because smaller competitors and especially those that intend to enter the market addressed by IBM find it at least difficult to provide product prices in accordance with those provided by IBM. These smaller companies do not have the ability of reducing their production or operating costs, which does not allow them to introduce competitive prices on the market. This way, they are clearly disfavored by IBM's position and market power.
In addition to this, in a field like it, it is imperative to make continuous investments into the research and development activity. This requires significant capital amounts from these companies. The investment levels that IBM reaches cannot be reached by many of these companies. This makes it difficult for these companies to keep up with IBM and its…… [Read More]
Strategy Formulation: Evaluating Efficiency and Effectiveness
For any business to continued growing over time it must balance the strategic formulation of its business model with the implementation of strategies (Buttner, 2006). There is however, an inherent conflict between strategic formulation on the one hand, or effectiveness, and the implementation of strategies, or efficiency, on the other. As markets change and economic conditions vary by country and region, strategy formulation and implementation are forced to flex or change over time to keep serving customers and generating revenue. The intent of this analysis is to explain how strategic effectiveness becomes more critical the greater the uncertainty there is in a given industry or geographic market. The effectiveness of a business must also be based on a solid foundation of agility and market focus (Dandira, 2011). Efficiency must be increasing in speed and accuracy of execution in highly competitive markets, yet must be…… [Read More]
Market Entry Strategies Into 2004 Germany: High Value, Low Volume Is the Key to Overcoming German Pessimism and Conservative Consumerism
Because of its relative political stability, and great economic wealth, Germany remains one of the most desirable countries for investment and market entry, in all of Europe. In short, there are, comparatively speaking, many Euros floating around the nation to be spent, despite the conservative investment policies of the average German worker, and the recent European recession. ages are high and lifestyles of individual Germans are affluent. But the German consumer remains wary, for taxes are high as well, and labor unions are strong, and the system of social services encourages a way of living that is not disposable, as in America, but tends to place more of a stress upon quality of life, via long vacations and enjoyment of what one has, than conspicuous consumption. (U.S. Commercial Services, German…… [Read More]
One industry that has seen a shift in the market model is the smartphone industry. During the mid-2000s, this industry was an oligopoly, populated basically by two firms that emerged from the old PDA market. Palm and RIM (Blackberry) operated as a duopoly, catering primarily to business customers with early smartphones. Apple joined the industry with the iPhone, and was quickly followed by a number of other players. The organization of the industry is somewhat unique, as some firms are vertically integrated providers with operating systems and hardware integrated (Blackberry, Apple) and other firms have a number of hardware manufacturers working in conjunction with operating systems makers. Thus in operating systems there remains almost an oligopoly with two or three major firms and a couple of other minor ones, whereas on the hardware side the industry is fully in a state of monopolistic competition.
Short Run and Long…… [Read More]
Strategy & Decision Making
Wal-Mart has become a global corporation. The company's primary vision focuses on a more global presence and promotion of the organization's ethical culture across global stakeholders. The company's concept of a vision statement focusing on a culture of ethics is vital in globalization. The company has embraced diversity and culture in their global operations thus leading to a competitive advantage and good reputation. By promoting a culture of ethics, Sam Walton has assisted stakeholders and customers to make informed decisions thus doing the right thing (Griffin, 2012).
Wal-Mart's mission statement focuses on quality customer service, striving for excellence and respect for individuals. Therefore, based on their core beliefs and values, the mission of the company emphasizes on the provision of daily low prices and exceptional services to customers. The company has managed to uphold their business for long because the top executives and managers work…… [Read More]
3. How the quality of service changed and why?
The quality of service increased significantly as all practices areas of the hospital better aligned to the cultural norms, values and needs of each ethnic population represented by the segments served. The quality also increased because the staff also began to better understand the unique needs of the patients being served, with more emphasis on interpersonal communication than had been the case in the past. This personalization aspect of leadership works both ways; the hospital staff had a much better appreciation and understanding of the unique needs of the population they were serving, and the potential patients and customers developed familiarity and trust with the providers. The next step for the hospital is to create a means to continually evaluate the level of satisfaction they are delivering to patients. The hospital could use the SEVQUAL metrics to evaluate the level of…… [Read More]
VF markets all of its diverse brands as eco-friendly, sporty, functional products that are useful for its outdoorsy customers. They are meant to leave a light carbon footprint yet also are helpful for consumers who wish to pursue more 'extreme' sports like hiking and trail running. Even its 'Lucy' brand of yoga sportswear is marketed in such a fashion. This fashion-friendly, yet functional marketing strategy seems ideally suited to the demographic likely to use VF clothing. VF consumers are young, but old enough to have established themselves enough financially to participate in pricey sports like skiing, snowboarding, and climbing. Because their sports are played outdoors and because of their age, relative affluence, and education, they are likely to care about the environment. VF fuses these two concerns. Its products are stylish, and suited to the needs of the sport because they are functional and durable. A good example…… [Read More]
The first point that has to be looked into is the health of the company, Colorado Australia. The company is passing through a bad phase and this is not the time for a product launch as generally no new introduction can make money for a period of time after launch. When the company launching the product is itself in a relatively poor condition of finances, then it is less likely to take risks that will be required for the successful development of the new product. Here the situation is likely to be of a new brand in a new market, rather than a totally fresh launch. The company is already exporting substantial quantities and it is possible even the same item is being exported for sale by another organization under a different brand name. It may be possible that expansion of sale of quantities under that arrangement may…… [Read More]
Market Efficient espect Set Information Impossible Makes Abnormal Profits
In his work, Fama argued that given the massive use of resources by the brokerage firm to conduct studies on trends in the industry, the effects of changes in interest rates on corporate balance sheets and expectations of managers and/or political analysts of the companies should be able to systematically beat a generic portfolio with the same risk characteristics.
Since, according to Fama, professional in every situation, the analyst has a fifty percent chance of beating the market; although its specific capabilities did not exist he would beat a lot of the market. The analyst did "help" the market to be efficient if all the investors, in fact, would hold portfolios composed of stock indices, would open up significant opportunities for professional traders to take advantage of the situation. But the movement of traders to that "new market" would…… [Read More]
This is important, because physics has allowed the combustible engine to provide the world with a cost effective solution for traveling long distance. Sadly, the electric car can only be used for short to medium distances. Then, there is another potential problem that could be developing with the lithium batteries that are used, where China control 95% to 100% the resources for these batteries (lithium). This is problematic because they could restrict how much they are exporting (which they already have) to ensure that there is enough supply for the country to meet its own internal demand. (ryce 2010)
Despite this dire news, there are increased effort within the industry to support the use and development of such new technologies, to work in conjunction with the combustible engine. An example of this support for such technologies can be seen by the fact several oil companies hold the patents on several…… [Read More]
Good managers must act quickly when faced with ethical dilemmas.
Leaders need ensure that dignity and respect are maintained at all times.
These different elements are important, because they are providing us with a basic foundation as to how manages can apply effective leadership inside their organization. Once this occurs, is when there will be a transformation in operating environment with everyone willing to work together on a regular basis. (Voyer, 2011)
Clearly, the different pieces of literature that we reviewed are illustrating how managers must be able to embrace certain ideas. That will help to improve the ability of the firm to deal with a host of challenges. The way that this is accomplished is through having everyone focus on certain characteristics that will enhance the operating environment to include: exercising effective leadership, having good communication and implementing a values-based system. These different elements are important, because the…… [Read More]
Strategy mapping is an approach to strategy implementation that flows from the balanced scorecard approach to formulation and measurement. Strategy mapping allows for a clearer understanding of the dynamics of strategy to be understood, especially at the implementation level. The framework was developed in order to do three things. These are to set appropriate objectives, establish a dominant value proposition, and then find critical strategies that support that position. The strategies relate to the four different elements of the balanced scorecard (Armitage & Scholey, 2006). Murby and Gould (2005) reinforce the idea that the balanced scorecard does not directly address strategy formulation, so the strategy mapping process acts as the set of guidelines for formulation in light of the findings of the balanced scorecard development process.
Strategic Mapping Process
Armitage and Scholey (2006) outline the six steps of strategy mapping. The first step is to specify an overriding objective, the…… [Read More]
Even public transportation is growing more expensive, given that cash-strapped states are raising fares.
Victory offers customizable bikes with great value and power, according to its promotional literature. I
Victory began as an "offshoot" of Polaris Industries, which is mainly known for marketing snowmobiles and ATVs. Amongst the target audience, particularly in the South and areas where snowmobiling is uncommon, it may have little brand recognition.
The economic downturn and demand for more fuel-efficient vehicles could be capitalized upon as a great opportunity for the company -- more individuals are likely to be seeking out motorcycles as a mode of transportation.
In a recent head-to-head of Harleys and Victories, one trade magazine said that Victory produced the superior model, but Harley had the better-known name: "It comes down to cooler character of the Harley vs. The better handling, more powerful Cross Country. I know…… [Read More]
Market Model Patterns of Change
Sir/Madam, answers attachment page. But write a APA format, citing quotations a APA format. answers fits 3 pages.
The operating system software industry that was dominated by Microsoft was a monopoly till quite some years back when other players came into the market and disrupted the monopoly. These players include Linux with their various operating system software such as edhat and Ubuntu and Apple with their Macintosh operating system.
The general pattern of change in this particular market model was that of monopoly to oligopoly. There are several short-run and long-run behaviors in the monopoly and oligopoly market models. In monopoly, there is only one market player who has full control over the market. However, in oligopoly, there are several market players who hold different market shares depending on their marketing strategies, brand awareness, product specification, product diversification, etc. Soberman & Gatignon, 2005()
The short-run…… [Read More]
Access the organization's resources to actually deliver what it offers -- does the organization really have the resources, human or otherwise, to achieve this new idea?
5. Access technology -- is there market readiness of technology sufficient -- are technologies adaptive, or in place, that will allow this idea to flourish -- is it the right time?
6. Specify Opportunities in pragmatic and concrete terms- if launched, what are the actual benefits the organization would bring to the offering to achieve a win-win situation in the market?
7. Access opportunity attractiveness using as many resources available as possible -- in order to move forward, the company must assess the market's financial, technological, and competitive situations in a way that is realistic to the event (Stevens, 2006).
By doing this type of robust analysis, the organization is able to move from the ideation stage, through the client decision process as to…… [Read More]
It revealed the fact that customers were willing to buy chocolate in order to be in fashion.
The government, which is a communist one, has imposed chocolate importers to mark the country of origin in order to provide the customers with the accurate information about the products they offer.
Size, number, and financial strength of competitors. If we take into consideration the report mentioned above, the main competitors are: Dove (38.61%), Cadbury, Le Conte, Nestle, Hershey's, Golden Monkey, Ferrero Rocher, M&M's, Tresor Dore and Shenfeng. These ten producers account for 90% of the chocolate market, while the first three cover about two thirds of the market share. However, among these ten best companies we can only depict two internal brands. These are Golden Monkey (2.94%) and Shenfeng (1.58%). Due to the new regulations regarding the percentages and quality of the ingredients used, many national producers may not be able to…… [Read More]
Market Society and the Public Sphere
My journal text comes to illustrate the utmost significance of globalization viewed as the force molding and shaping the current world. It describes the multidimensional aspect of globalization that influences and encompasses all facets of life through an integrated network. Currently, globalization is the buzzword in media articles, daily talks of media people and talks of politicians. There is no aspect of life that is not influenced or affected by globalization (Tober, 2006, 33). However, many people find it difficult to reflect on this phenomenon. This is because the term is applied in so many aspects leading to its ambiguity in defining it according to my text.
Numerous volumes of work have written about globalization in numerous fields such as political, science, business, economics, sociology and many more. This has made the term globalization lack a precise cogent theory and definition. This is seen…… [Read More]
choice of segmentation strategies could also be fine-tuned by the life-
stage of consumers, with those members of a target audience who have young
children needing clocks with simple numerals for example versus the more
ornate clocks that retirees like to decorate their homes with. The use of
attitudinal segmentation in conjunction with lifestyle and psychographic-
based analysis of consumers' needs can lead to entirely new classes of
products being produced. Often those companies with the best understanding
of the preferences of their consumers also create more innovative products
as a result.. In this regard, the use of segmentation as an approach to
driving future product innovation through more effective customer insights
is invaluable as well.
Marketing Leadership Council (2006). Overcoming Complexity in Segmentation
Alternatives. Corporate Executive Board White Paper Series. October,
2006.…… [Read More]
Control systems are more difficult to discern, especially in relatively private organizations. Ideally, the best source would be personal interviews with managers or staff. In lieu of that, inference is the best option. As noted, literature can help to understand the types of mechanisms used in different types of companies, although such inferences could lead to wildly inaccurate conclusions.
Insights can be gained from seemingly random websites like Novelguide.com, for some reason (1999); books that discuss the company (Hardy, 2005), blogs (DeBroff, 2009) and media articles (Boorstin, 2004). These sources of information can contain somewhat random tidbits of information that provide useful in painting a picture. Each of the above sources, for example, discusses corporate culture. The multiple sources corroborate each other and provide slightly different perspectives on the same issue. The information contained in some of these sources should be treated with a grain of salt, but as each…… [Read More]
A challenger thus goes for an all out attack against the leader in order to gain market share. In the field of pharmaceuticals, for example, Merck would be seriously challenged by Pfizer because both companies are massive in size and are targeting almost the same areas. Some of the strategies attained by a challenger would include Frontal attack (offering new and better products at lower price) Leapfrog (offering treatment in previously untouched areas), Flank (reach a new segment of market) and encircle (develop a niche).
A company may choose to focus on one single segment and hence achieve the title of a specialist. The company is still trying for domination but only in its selected areas. It doesn't want to compete in every single field like the leader or the challenger. For example a firm may try to become a dominant player in discovering treatments for neurological disorders.…… [Read More]
d.). Billboards and other public advertising such as on buses and subways are also a viable option. Japanese are wired, so advertising through popular Internet portals is a possibility. Also, mobile phone advertising is a possibility. However, it is worth noting that the preferred medium for advertising is highly dependent on the type of product or service offered. Therefore to some extent the ideal channel will be dictated by industry norms (Ibid), unless we choose to buck the trend.
Promotion of Product
The Japanese market is intensely competitive for most products, since it is a mature market with only limited growth prospects. Promotion can be very aggressive as a result. Japanese consumers are price sensitive, but they are equally sensitive to quality. Thus, it is best to enter the market with either a cost leadership strategy or a differentiated strategy. The company's position on the value proposition curve must be…… [Read More]
For Apple, this strategy has translated into market dominance in the smartphone and tablet PC markets. The success of that company continues to underscore the inherent value in synchronizing these three elements of an HM framework, transformational leadership, and a continual supply of disruptive innovation for heavy investment in &D.
The Practicality of Agile HM Frameworks and Their Impact on Long-Term Financial Viability
The creation of an effective HM framework, continual improvement of transformational leaders and their skill sets, and the infusion of innovation can transform a company much like these approaches worked at Apple. For the majority of companies however the practicality of how best to manage these three areas and attain profitability remains a challenge. The majority of companies struggle with creating an agile HM framework that can balance the urgent need to get employees hired and accomplishing tasks quickly using transactional leadership vs. getting employees to buy…… [Read More]
In 2004, it established its operations in Mexico to cash in on the high rate of diabetes in this country. Diabetes is responsible for 13 out of every 100 deaths in Mexico and Novo Nordisk expanded into this Latin American market. It also encompassed Mexico as part of its global campaign and its representatives went to schools and villages to spread awareness about the disease and the ways and means to cope with it.
The H system that was implemented in Mexico was different from the one that existed in Denmark and this was mainly due to the differences in culture, work attitude of the people and national factors that have a profound impact on the employment benefits of the workers. For example, in Denmark, every worker gets to participate in the decision making process. This is a part of the Danish culture and comes from the long-standing democracy and…… [Read More]
For example, in the early 1990's the 'Intel Inside' of computers was great for computer sales. That is until the Intel brand name took a major hit for allowing a faulty chip to make its way to the market. The internet-based Word-of-Mouth made the 'Intel Inside' a marketing nightmare.
The Word-of-Mouth and Buzz marketing approach coupled with the internet are more effective than any available print or television ad currently used because consumers are too overly saturated by those mediums. This new approach of the future was recently used and studied for the popular film 'Fahrenheit 911' and the blockbuster results in revenues clearly show that this new approach is the wave of the next generation.
In conclusion, the world of marketing has changed and our more global and technologically advanced social and business environment will make marketers reevaluate their approach. Marketing executives can no longer go about in…… [Read More]
This system has the ease of being used in any lighthouse irrespective of its current lighting and power systems. Due to this, Vega is the sole company in the world having such advanced technological and optical competencies. Through the system, all the beacons installed can be monitored from a central location, thereby reducing the quantity of false call outs and identifying faults which require manual attention.
Considering the Total Cost of Ownership -- TCO Vega's product offer a low TCO as their IT products recover the average cost of $30,000 for installation since it reduces the $1,250 per hour helicopter-assisted maintenance. The computer-managed systems have to be fail-proof as any type of false call could cost up to $3,500. This system manufactured by Vega uses the interactive technology capable of permitting technicians to switch lights on or off from a remote location. Vega enjoys economies of scale as it has…… [Read More]
These new customers of the optimal industry are looking for their own long-term competitive advantage through better alignment and direction of their own resources.
Differences between competitors are significant and aligned more on quality and customization of products than on price or aggressive discounting and the use of promotions. As a result, price elasticity is a permanent factor of the market and also signals the use of more effective means of differentiation, including the delivery of exceptional levels of service and greater levels of product customization expertise.
In the optimal industry there are also an abundance of suppliers, each with highly differentiated and highly efficient supply chains of their own, all ensuring perfectly filled orders. The supply chain then is the greatest competitive differentiator of the industry from the manufacturing and fulfillment perspective.
The highly unique approach to service that is provided by suppliers also focuses on the…… [Read More]
The segmentation recommended in this marketing plan includes the following:
Ensure that locals (there is an advantage to the restaurant's site) become regulars.
Differentiate the "Italian" notion for those who want something different from "standard," "middle of the road" Italian fare.
Come up with very targeted marketing which ensures focus on the three target customer groups:
Those living/working within a well-defined radius
Those who may know the restaurant from other experiences in Australia
Spur-of-the-moment tourists who see the restaurant and walk in.
Cost structure of industry (especially whether variable cost is a small or large proportion of the normal selling price, and whether there are significant economies of scale of production, importance of transportation costs etc.),
The relative margins earned by restaurants vary from zero to 10% of total sales. Price discounts may be attractive to customers, but can have a dramatic impact on the bottom line if not properly…… [Read More]
In addition to the need to have organizational structures that are agile enough to quickly form interrelationships to solve emerging customer problems there is a corresponding need to also have a goal-based diagnosis methodology in place. According to the Criteria for Performance Excellence (2007) there are seven categories that form the basis for 18 criteria items, distributed throughout the areas of Leadership, Strategic Planning, Customer and Market Focus, Measurement, Analysis, and Knowledge Management, Workforce Focus, Process Management, and esults. While the point has been made earlier that an entirely new approach to managing the tracking of these variables requires high degrees of process and system integration, there is also the need to completely modify how the universities operate in response to the demands placed on their it departments. It is not simply a strategy of selecting these 18 specific criteria and working to create high scores on each.…… [Read More]
For example, in decision making style differences arise from professional backgrounds, "the decision cycle of a fighter pilot (the Navy Captain) [is] measured in seconds while that of an infantry officer (the Colonel) in hours and days." If one compounds this paradigm with career Statists, who tend to measure decisions in months or years based on "never enough data," we can see the conundrum (Marks, 2007).
For generations, though, training on both sides has been based on a world polarized by fear -- of mutual destruction, or of the United States and the Soviet Union continuing to militarize in order to maintain the balance of power that would ensure the other side refrained from ever having the advantage. . Through it all, though, the economic model that drove both sides certainly caused the downfall and bankruptcy of the U.S.S.., and an overall change in the very idea of war as…… [Read More]
A third area Kudler needs to concentrate on is understanding the psychographic segments of their customers, including how they perceive themselves as part of a broader group (Wagner, 2010). This is essential for them to gain greater insight into how best to manage these key influencers as part of a broader panel and gain critical intelligence on how to position their business.
Finally, it's very critical that any retail business have exceptionally strong competitive insight and intelligence. This is an area of market research that Kudler Foods needs to concentrate on thoroughly., as they will over time attract greater competition on price alone. If the amateur and commercial chef market is an affluent one in this area of the country, other competitors will certainly begin approaching these customers with loyalty programs and advanced deals. Using social media and continued monitoring of competitors while watching these critical segments' shopping patterns, Kudler…… [Read More]
MAKET ANALYSIS & PODUCT INNOVATION
Market Analysis and Product Innovation: Facebook Inc.
In an increasingly competitive environment, business organizations must remain innovative. They must deliver offerings that resonate with the ever changing needs of the consumer and the operating environment (Akbar & Tzokas, 2013). This often calls for product innovation, which has been marked as a crucial driver of competitive advantage in the contemporary marketplace (Song & Chen, 2014). Nonetheless, product innovation is often not a straightforward undertaking. An organization must have comprehensive understanding of the environment in which it operates, especially in terms of the threats and opportunities it presents, for its products to succeed in the marketplace (Bart, 2002). The organization must also effectively utilize its resources and capabilities to overcome those threats and take advantage of the opportunities (Holahan, Sullivan & Markham, 2014).
One organization that is an epitome of innovation in today's business environment is Facebook…… [Read More]
VON Calls on Foreign Markets
von believed that having regionalized new product development centers, supply chain operations, marketing and sales divisions would make them more competitive in foreign markets. Ironically the exact opposite happened, as the case illustrates. von's performance was drastically reduced and the duplication of effort crippled the organization. Unfortunately the highly decentralized, market-driven organizational structure that von had such high expectations for failure to deliver the results needed to keep the company growing. The net outcome of the highly decentralized organizational structure was a massive duplication of effort and cost overruns; the organizational structure turned into more of a liability than strategic asset. The goal of this case analysis is to explain and recommend how von can regain profitability while also attaining a higher level of internal new product development, production and selling efficiency. nother objective of this analysis is to evaluate how von can attain a…… [Read More]
5% of total liabilities. Their retained earnings, on the other hand, total $5.073 billion. The heavy use of retained earnings is partially explained by their view of themselves as a growth company. hile they pay a dividend, Nike prefers to re-invest much of its profits back into expansion. They do not feel that the market has matured sufficiently to stop their aggressive growth strategy. Another consideration in their capital structure is the cost of capital. On account of its low volatility, Nike has a low cost of debt, approximately 6.8% using CAPM. Their long-term debt is primarily a revolving credit facility. The rate, based on their a+ rating, is LIBOR + 0.15%, which would equate to 4.12% based on the October 15th price of the 1-year LIBOR. If anything, Nike could become more financially efficient by increasing their use of debt financing.
Nike places strong emphasis on human resources. They…… [Read More]
This he can do by engaging in extensive advertising, public relations, sales promotion, personal selling, internet marketing, and sponsorship. Depending on the resources available, the client can use any form of mass media that is within his means. He can also go for the services of public relation companies to obtain favorable publicity within the media. The client can also make use of money off coupons or special offers to increase sales volumes in short-term. Internet marketing techniques like social media and videos on demand can also come in handy (Chaffey, 2007). Message strategy should be well thought out. The message should reinforce the benefit of that product (Schultz & Dev, 2005).
2.1.4 Place Strategy
This stands for ways by which goods are transported from the client to the end users. The client has to ensure that goods reach the market when they are still in good condition failure to…… [Read More]
The criteria for successful Alliances in Emerging Country Economies
Economic shifts and globalization caused by the development of emerging economies and the recent financial crisis have affected various industries. Firms must adapt appropriately to the new standard where time to market is shortened even with their shrinking capital bases and growing global competition. At a period when alliances and partnerships are fundamental, particular emerging economies are subject to become critical partners. This paper seeks to give a theoretical foundation for analyzing the prevalence, the nature, and the location of global strategic alliances of firms in emerging economies. The focus will be on the criteria for alliances in these economies compared to alliances in developed countries. Propositions will be posted with respect to Small Medium Size Enterprises (SMEs).
Emerging economies previously used for contract manufacturing are evolving at a rapid speed. In a number of industries propelled by local…… [Read More]
This strategy of investing face-time has continued to scale extremely well in the U.S., yet has faced many challenges in other nations that value data, hard numbers and strong methodologies to validate the claims of products. One nations' buyers of cosmetics in particular, the Japanese, are more focused on the specifics of the how a product is produced and want to know in great detail what the ingredients are in specific measures. The level of data analysis presented by cosmetics providers in Japan is often taken as a measure of the elegancy and exclusivity of a given cosmetic product over another (Grammenou, 2009). Due to these wide variations in how cosmetics are sold, Avon continues to excel in westernized cultures with the U.S. being their flagship market. In Asian cultures were the depth and sophistication of data is an indicator of exclusory and elegance, Avon continues to struggle in other…… [Read More]
For Tresemme, for example, the color scheme and general layout of the package is consistent with other Tresemme products and is not specific to the dry shampoo product.
Packaging -- Recommended
Given that the pricing need not change, the package size does not need to change either. The layout and color tone are dictated by the overall branding of Tresemme so are going to be difficult to change. Two aspects of the packaging can change, however. The first is the shape of the package, which should be changed to convey to the consumers that this is a different product from Fresh Start. The second is that the package should have a different name (not Fresh Start) and should impress upon the consumer that it is a new product. The new selling proposition "unique" should also be incorporated into the text of the packaging.
Target Market -- Recommendations
It is recommended…… [Read More]
The hotel seeks to promote its strategic location and incomparable services to boost its sales to the majority of people and tourists visiting Southern California. Its proximity to central Loss Angeles also gives an advantage to the hotel to target the urban dwellers seeking recreation facilities outside the central city.
Pricing of services and products offered by the Long beach hotel is under management and control of market conditions of demand and supply. Prices are elastic depending on the season of the year. During peak periods, prices for accommodation services range from $100 to $400. These prices aim to meet the demands of a bigger range of people. The prices vary depending on the capability of a customer. Price charge depends on the facilities available in the hotel rooms and other services that a customer may require such as dinner and breakfast. Charges such as $400 per night…… [Read More]
generic strategies that a company can employ to derive competitive advantage. These are a low cost provider strategy, broad differentiation strategy, niche strategy based on lower cost, niche strategy based on differentiation and best-cost provider.
The low cost provider strategy builds the company around the concept of having lower costs than any competitor. This approach allows the company to offer lower prices to the consumer than its competitors can offer. The company should focus on efficiency in all aspects of its operations, and seek to build economies of scale in order to compete successfully as a cost leader. The broad differentiation strategy focuses on offering a superior product or service that is different than those of any other customers. This strategy has the company focusing on innovation, high quality production, continuous improvements and adding value. A high level of investment in inputs and people is usually required to succeed as…… [Read More]
" (Ying-Feng, 2006)
As mention earlier, the leadership at GE was able to pull of years of having the best leadership; for instance, in eptember 7, 2001, when 44-year-old Jeff Immelt was picked as being the company's twelfth leader after Edison, he faced an intimidating challenge. Not only would he be guiding a $130 billion global company managing businesses from lighting to aircraft engines to monetary services, nonetheless he would do so following Jack Welch, a legendary CEO who, over two decades, had generated an average annual total return to shareholders of more than 23%.
As Immelt took on one of the biggest management jobs in the world, some wondered whether GE's vaunted management development process had prepared him to lead such a complex organization. But for the new CEO, the bigger question was, how could he ensure that GE's talent machine kept developing executives who could continue driving the…… [Read More]