Tweeter analysis Essay Example

Tweeter analysis Paper The other points to be discussed will be the strategy of Tweeter going forward to tackle the price competition due to rivals like, Lecher, Circuit City and the WIZ. Problem Identification Tweeter was in a market that was highly competitive and it faced many challenges to sustain itself ranging from price wars to unexpected value perception by the customers, uncertainty about Its APP policy to threats from new entrants. But the major problems can be listed as follows, Difference In the value perception of the customer and that being offered by Tweeter Despite of having competitive prices, why is large amount being returned through Automatic price protection (APP) Evaluate the impact of APP strategy on Bryn Mar Threat from new entrants like Wiz into the New England market Analysis First we will carry out a SOOT analysis for Tweeter In the current market conditions. Secondly, we will see the impact of APP on the buying behavior of the customers. We will analyze the data provided in the various case exhibits and provide recommendations for Tweeter?s future strategy. SOOT Analysis Tweeter started its venture with medium to high-end audio and video equipment ND components. The customers perceived It as a high quality retailer with knowledgeable sales people who offered high level of customer service. But the competitors?w strategy was to capture the customers through low pricing strategy. We will write a custom essay sample on Tweeter analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Tweeter analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Tweeter analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Tweeter was forced to compete on price and even introduce entry-level brands and lower end models of existing brands. It was unable to cash upon this strategy since the customers failed to recognize the competitive price offerings on its products. Looking at Exhibit 14, 54% of the respondents did not know whether the prices offered by Tweeter are higher or lower compared to other big chains Like Lecher Ana Cult CLC TTY. Moreover, AT ten respondents won 010 not Know auto ten A policy also were unaware of the relative prices. Also, 40. 6% customers are not aware of the concept of APP and 37. 9% of the customers do not know that Tweeter has a policy related to APP. So we can say that the value offered by Tweeter was not exactly as perceived by the customers since their promotion strategies did not work as there was always a competitor whose highest price was lower than Tweeter?was lowest offered price. The probability of customers knowing about the introduction of low end products by Tweeter was less considering they did not focus on promotion. Under the Automatic Price Protection policy, Tweeter monitored newspapers on a daily basis for advertisements of competitors present within 25 miles of its vicinity. If an item purchased at Tweeter in the past 30 days was advertised for a lower price, then they automatically mailed a refund check to the consumer for 100% of the difference in the amounts. There were some constraints applied as the items insider are of value above 50$ and the difference is more than 2$. The advantages of APP on Buying Behavior can be ?C Eliminates the need for extensive, price?based search for the customer ?C Break the ?Kiewit for a sale?0 buying mentality ?C Create positive word-of- mouth ?C Good technique for customer conversion and retention The disadvantages of APP on Buying Behavior can be ?C APP is relative complex, difficult to communicate via media ?C Purchase decision of customers is based on prices at face value. So they would prefer a impetigo giving sale or discount instead of APP Looking at the income statement in exhibit 7, since the implementation of APP the gross revenues have increased by 88. 5% from 1993 to 1996 while the net income has increased from -661 k$ in 1993 to kick$ in 1996. Hence, we can see that the top line improvement has not been translated to the bottom line. Looking at exhibit 12, we can observe that APP policy was highly ineffective during the festive months, since it was a custom for the competitors to reduce their prices aiming to maximize their sales and profits. Due to the overlapping products with Tweeter, they had to incur increased payback during these months. Tweeter was losing out a lot on its pricing strategy for cost leadership and current profit minimization by concentrating on the low end product market, whereas it specialized in the medium to high-end market and the customers perceived it to be a high quality retailer offering good customer service. In fact, Tweeter customers perceived that they were paying a premium price for receiving the best customer service in the region. Tweeter acquired Bryn Mar stereo and died as its first venture outside of New England. Bryn Mar was a high-end consumer electronics chain similar to Tweeter and it had also adopted APP policy. But due to low awareness of the policy in the new area, Bryn Mar failed to see an appreciable increase in sales despite adoption of APP policy. Tweeter can handle this issue by concentrating more on promotion of the APP policy and its assured benefits. Considering the channels of distribution, from exhibit 4 1 1, we can observe that the product mix offered by Tweeter at their specialty stores and boutiques for consumer electronic categories Is well In sync Witt ten stores parterre Day ten customers to Duty those products, as 59-64% of market share is captured by the specialty stores. Hence, during expansion in other states outside New England, they should target for opening similar type of stores. From exhibit 8, we can observe that the customer base seeking Quality/Service that forms 10% of the total market prefers Tweeter that is 70% of Tweeter?was market. It has only 20% market share in the price biter segment and it can focus to increase the share in this segment, as these customers focus on absolute best deal looking at verbal factors of price, service and quality. Tweeter can surely cater to these customers. Recommendations Do not target low end products The major mistake that Tweeter committed was introduction of low end products. The competitors of low end products were superstores and mass merchants that mainly concentrated on providing low competitive prices while compromising on customer service and salesperson knowledge. Being a specialty store, Tweeter?was PODS included giving the customer a better shopping experience through excellent customer service and salesperson knowledge. Hence, venturing into APP for low end products mostly resulted in loss. No differentiation on the basis of prices through sales or discounts The customer psychology was to accept prices at face value. They got more attracted by initial savings rather than a money refund at a later stage. Hence though the savings might be same their tendency is to choose a product on sale to a complex offering like APP. Thus, there is no incentive to provide sales or discounts on low end products. This supplements the previous point for Tweeter to back out from sale of low end products. Do not target entry level customers Entry-level customers laid great emphasis on price and not on product quality and customer service. Since Tweeter?was unique offerings did not include low end products, the probability of them choosing Tweeter was minimum. Promotion towards BIB segment The high end products can be catered to customers who value these as a long-term investment like educational institutions, music bands, etc. That form a part of BIB segment. These customers will be willing to pay a premium for high quality. Hence, Tweeter should focus more on this segment.

Hire a Copywriter and Learn How to Be a Good Manager for Your Future

Hire a Copywriter and Learn How to Be a Good Manager for Your Future Hire a Copywriter and Learn How to Be a Good Manager for Your Future College is full of experiences and opportunities to learn, but the lessons and knowledge gained from first hand experience applies most readily to real life situations you will encounter in the future. When you enter the workforce you may find that your degree will get your foot in the door, but once you are there, your experiences from real life, and the on the job training you receive will be your true teachers. In you professional career, degrees won’t matter as much as results will and showing your employers your degree will mean very little when compared to showing them your performance. Experience Counts One way students can gain real life experience with a wide range of applications, is by managing employees or managing projects. Most college students quickly learn that college is full of projects, but few see those projects and papers as opportunity to gain management skills. But this is precisely what they are, and those students who take on the task with a mindset to learn management will gain the most from these experiences. Many college students understandably view projects and papers as a means to learn more about the subject matter they are studying in or majoring in. But if the student can see these as an opportunity to learn management skills, they will optimize their learning. A team project in college may take people management skills, leadership skills, as a team needs a leader to run well, presentation skills, if the team must present, writing skills for material handed in or presented, technical skills and more. These skills are above and beyond the subject matter being learned by he student. Skills Gained from Paper Writing If a student has an important paper due, this can be viewed as a project during which a great deal of management experience can be gained. You may improve time management and organizational skills as well. Skills Gained by Managing a Freelancer for Your Project One skill you may not have thought of is the management experience you can gain by hiring a freelancer to assist with your paper. Managing a freelancer requires communication skills, as you must convey your vision of the paper to them, insure they understand the vision, and communicate expectations for deadline, writing style, subject and other details. Hiring a freelancer is similar to having a remote, temporary employee. Since they are working for you, you must direct their activities as it relates to your paper or project. You must manage time to ensure deadlines for the paper are being met, so it will be finished by the due date. You must review content and give feedback when necessary. One of the greatest management skills one can obtain is the ability to motivate their employees and give feedback in such a way that they get the performance they need. If you have positive feedback for an employee you should give that to them, and if possible, give the praise publicly. This is extremely motivating and will help you as a manager to continue getting the performance you need. If you have negative feedback, or perhaps have something that needs to be changed, you of course need to give that feedback. The way you give the feedback is very important: it must be done tactfully, clarifying expectations, and if necessary, taking responsibility for unclear communication with the employee. Clearly, you are attending university to be educated on the subject matter of your chosen major, but don’t miss out on all of the periphery experience to be attained there. At our company you can hire an academic expert for writing a custom paper of any complexity, in more than 50 disciplines.

Give an account of the main rules of statutory interpretation and Essay

Give an account of the main rules of statutory interpretation and illustrate their operation by reference to decide cases. do these rules provide a helpful guid - Essay Example When comparing legislation with common law, statutes can change the set norms of common law but the common law can not overturn or change statutes; it can be modified by a later statute. There is a common belief that law is straightforward; actually it is not so. There are three rules being practiced by judges to interpret statutes (UK Law Online). The golden rule – when literal interpretation leads to silliness, it is improvised to a less obvious meaning. Otherwise also, there could be policy implications arising out of literal interpretations. The mischief rule – It defines the issue the Act was meant to resolve and decides on the interpretation which best suites the issue. Law Commission reports and Hansard – the journal of debates in Parliament – can also be consulted to decide the problem before the Act. Smith v Hughes (1871) LR 6 QB 597 is an example of the mischief rule (UK Law Online). The literal approach is the default position that honours Parliamentary Sovereignty. It demands that judges enforce law and not make it. The purposive approach, based on the golden rule, is preferred in Europe and the ECJ while the literal approach of statutory interpretations is the preferred choice throughout in the UK (legal Easy, 2006). In certain particular social policy implementations, the like of outlawing of sex discrimination, judges need to be flexible by using a more purposive approach (the golden or mischief rules) There is the case example of Pickstone v Freeman [1988] 2 All ER 803. The above approaches have wider applications. There are certain other rules of interpretation, which come under two sub categories (UK Law Online). Rules of Language – The â€Å"eiusdem generic† rule – a Latin phrase, which means of the same kind: It states that normal words follow particular examples for getting meanings, and are not that general or ordinary after

Fred Jones Constructon Essay Example | Topics and Well Written Essays - 2500 words

Fred Jones Constructon - Essay Example Insofar as the products are concerned, there is also a need to define the branding strategy thast can compete against other brands in the market. And in order to be competitive, there should be some awareness of the competitors’ strategies against which the Fred Jones Construction strategies for storm roof repairs will strive to be more captivating to potential customers. I.Industry & Market Analysis The storm roofing business realized a boom in Dallas right after a tornado touched down in April 2-3.2012 and a year ago in April 27, 2011. $ 100 million worth of insurance claims had been reported in 2011 for Dallas alone, based on the news report of Nielsen and Richter (2012). There were 19 separate warnings about a tornado approaching Dallas population with 6.3 million people. Hail brought by the powerful wind could be as small as peas and as big as a baseball. In mid-June 2012, Dallas experienced â€Å"the massive hail storm† which was estimated to have resulted in $ 2 billion worth of insurance claims (Richter and Berkowitz 2012). And sop, even if 1,000 contractors of roof repairs are tapped to fix all roofing and housing repairs, each contractor would have a potential market of about $2 million. One of the major industry players, MyRoofDfw (2013) in the roof repair industry within Dallas Forth Worth Metroplex disclosed that there are more than 1,000 companies offering the same products and services in the location. But that company also forecasted only about 10% will remain operating within the next 10 years. That company boasts of having the expertise at roof replacement, leak repairs, insurance claims assistance, lowest pricing, free estimates, and free consultancy for home roof condition reviews. Aside from these, the company offers more than a dozen related services listed in its website. Six of those services are free because those are about inspections pertaining to different reasons for repairs. Competitors like Circle H Roofing & Constru ction have communicated to the public the problem of unpredictable weather changes that have damaged roofs due to hail, fallen trees, and strong winds. They have set the customer’s expectations (Circle H 2013) way ahead of the customer’s decision to secure the products and services from their respective companies. This is good because the homeowners can also plan ahead whatever would have to be prepared by the time the products and service crews arrive. Companies offering both products and services are transparent about schedules, how customers may pay through financing, and what repairs are to be expected. They also offer free inspections and quotation. Their products and services are all with warranty from the company that fixed the problems. Furthermore, they assist homeowners in claiming for property damages due to storms. Another competitor, Bennet Roofing (2013) gives importance to the presence and availability of its â€Å"experienced, professional staff† and the capability to â€Å"install and repair all types of residential and commercial roofing† aside from offering free inspection of roof damages. One of its strategies for storm roof repairs is the combination of educating the customers using their website about what needs to be done in order to claim for damages from insurance companies and then to mention towards the latter part that Bennet Roofing offers to perform all those long, tedious step-by-step process for

EESA10H3S Assignment 2 Essay Example | Topics and Well Written Essays - 500 words - 1

EESA10H3S Assignment 2 - Essay Example pollution have increased abundantly because of the changing drivers such as consumption patterns, population growth and economic activities (Kaushik & Kaushik, 2006). It is worth affirming that such information is false since genetically modified crops refer to plants that are meant for animal or human consumption by through modern molecular techniques. The plants are developed in laboratories to develop preferred traits to advance nutritional content (WHO, 1993). There is an increased debate about the wellbeing and the necessity of modified food since the 1990s. It is imperative to note that in America, consumers do not buy food based on mutual interest but on the premise of solving hunger problems and feeding the poor. It is mythical that global famine is due to food scarcity and population increase motivated by weather (WHO, 1991). Scientists have cautioned that our thinking about hunger is a great obstacle in tackling hunger. It is on record that the United States and Argentina filed a lawsuit against Europe over its rejection to consume GM foods. The crop is harmful to both the surrounding and human wellbeing (O’Brien and Mullins, 200 9). Most countries that process the GM foods are present in the wealthiest countries and their concern is to make money at the expense of people’s health (Kuiper, Kleter, Noteborn et al., 2011). Genetic engineering is unpredictable since by inserting a modified gene from an organism to food, proteins are introduced for dietary food chain. This causes health effects such as allergic reactions. The GM foods are not satisfactorily tested making it mythical to say that world hunger can be solved by increase in food production (Chapeyama, 2011). International entities have made policies, which have improved production of export foods at the expense of foods for population. The crops also contain genes, which gives resistance to used antibiotics ( Zhang and Guo, 2011). Man’s survival has always depended on animals either for

The US Firm Kraft Foods Took Over Cadbury Marketing Essay

The US Firm Kraft Foods Took Over Cadbury Marketing Essay According to the Harvard Business Essential the word strategy originated as a military term, and adopted by businesspeople when refereeing to plans for controlling and utilizing limited resources human, land and capital. In his classic article, Kenneth Andrews (1971) described strategy as the goal of promoting and securing vital interest, whilst M. Porter (1980) re-defined strategy as a broad formula for how a business is going to compete. One of the founders of the renowned Boston Consulting Group, Bruce Henderson linked strategy to competitive advantage. However, being different is not an instant guarantee for business success. According to ORegan Ghobadian (2009) Cadbury is one of the worlds largest confectionary businesses with top ranking in over 20 of the worlds 50 biggest confectionary markets. (See figure 1). It has one of the largest and wide spread markets in emerging countries around the world. Kraft Foods, Inc. is the largest confectionery, food, and beverage corporation whose headquarters is in the United States and the second largest in the world after Nestle. It markets many brands in more than 155 countries. (See figure 2). It is listed as a public company, on the NY Stock Exchange. (Wikipedia, Accessed 02/04/10) The former chief executive of Cadbury, Todd Stitzer launched the Vision in Action program in 2007. At it launch, he said the vision was aimed at driving the companys margin s up by mid-teen by 2011. It hoped to achieve this by focusing on 3 key priorities: Growth, Efficiency and Capacity. (Company Annual Report 2009) And as of the present time, the strong performance continues, edging Cadbury closer to its goal. 2.1.2 Kraft Key Strategy Performance (see Appendix Fig. 4) In an article written by boozco for the Strategy + Business, (Issue No 56, autumn 2009), 11 of Krafts top executives were interviewed about their strategy for the 3 year turnaround and campaign for growth. The interview started with the company CEO Irene Rosenfeld who as at 2005 was in charge of the Frito-Lay division of PepsiCo. Thus when she became the chef executive in 2006, she observed that Kraft concentrated its power to its HQ in the US and this was hindering innovation and growth. Thus her first objective was to decentralise Kraft, and re-focus the companys vision to the challenging macro-economic environment. The company went about these changes by introducing what it called Organising for Growth (OFG) which began in 2007. It included review of organisational structure with a 3-year turnaround time, dismantling of existing centralisation of power matrix, clear operational initiatives such as building up sales capabilities etc, and implementing new operating metrics coupled with financial rewards for executive managers. (See figure 5) 3. Market Driven Analysis of Acquisition 3.1 Why Kraft could not resist Cadbury (see Appendix fig.5,8,10,1112) According to Andrew Clark of the Guadian, the attraction of Kraft to Cadbury comes down to brands, sheer scale, geography and distribution channles. Though Kraft has some big brand products such as Maxwell House Coffee and Philadelpha cream cheese, many of these and other products were reported struggled to gain market sector domamnce in spite of the fact that they have been around for many years. (The Guadian, 06/04/10) Predictably, acquiring Cadbury meant addition of brands products such as Cadburys chocolate, confectionary and chewing gum products will increase the comapanys annual revenue from 4% to 5% whilst earnings growth which were lagging between 7% to 9% will now increase to between 9% to 11%. This predictation is based on Cadburys shrewed distribution strategy. For example, it has strong presence within the instant consumption channels such as corner shops and petrol stations where prices can be marked up, whilst relying on people making impluse buying. In comparison, Kraft products are mainly seen in traditional outlets such as supermarket and food stores where profit margins are lower. (The Guadian, 06/04/10) However, the acquistion comes at cost, for example, a cost cut of $675m have been highlighted, this will include effiecency savings of $300m. This amount is as a result of stream lining procurement, RD, and logostics. Futher $250m will come from duplicated adminstrative work which will now be centralised, and a $125m project synergy saving in making biiger bulk deals when buying media adverts. (The Guadian, 06/04/10) 3.2 What next after the takeover? (See Fig. 6,913) The share magnitude of the two companies coming together is enough to give anyone sleepless nights, as there are many strategic risk factors to consider. A winning Kraft/Cadbury strategy that is well implemented might work for a long while, however according to (refà ¢Ã¢â€š ¬Ã‚ ¦) no strategy is effective forever. 3.2.1 The Stakeholders (see fig. 7) Figure xxx shows an illustrative mind map of the different group of people that are interested in the financial strength of the two companies. It is worth nothing that whilst the government is interested in Corporation Tax and no breach of legislation especially e.g. National Minimum Wage Act (1998) ref, shareholders are particular about shares especially ROI. Whilst the workforce are interested in job loses, pensions etc. Other points of interests are competition from other competitors. Likewise, the general public wants to be reassured that the acquisition will not led to exploitation of Child labour in other to fight off price war competitions. Hence the strategy to manage these groups of people will be paramount in the coming years 2010 and beyond for the acquisition to be judge successful. 4. Balance Scorecard Introduction The notion of the Balance Scorecard (BSC) was brought into existence in 1992 in a business review article written by David Norton and Steve Kaplan (Kaplan and Norton 1992). The article was born out of the notion that the ability of a company to measure its intangible assets had a direct bearing on company performance and its ability to achieve company strategic objectives. The BSC brings additional value to the traditional measurement of historical financial perspective by including the measurement of internal business processes, innovation and learning and customer perspectives-all key indicators of future successful implementation of company strategy. The BCS is thus seen as a 3-way tool: Measurement System, Strategic Management System, and Communication Tool. See Fig 3 Fig 3 Source: Wiley and Sons (2003) The need to include lag and lead indicators in determining strategic performance is important. Lead indicators are those that affect future performance of Cadbury e.g. increasing market share. Lag indicators are those that indicate what has happened in the past, e.g. financial performance. Whilst lag indicators are important, Cadbury needs to focus on the future indicators of strategic success i.e. customer perspective, business perspective and learning and growth perspective. Cadburys governing objective at the start of 2009 was to deliver superior shareholder returns by realising their strategic vision to be the worlds BIGGEST and BEST confectionary company. (Cadbury Report 2008). Stakeholder theory identifies 5 main groups who have a vested interest in the commercial undertakings of the company.(Kaplan 2010) Cadburys strategic focus placed emphasis, primarily, on one stakeholder group; the shareholders. Fig 4: The strategy map links intangible assets and critical processes to the value proposition and customer and financial outcomes. Fig 4 shows the causal connection between these different metrics and the ultimate strategic aim of delivering shareholder value. The upward flow identifies the cause and effect relationship in the BSC that lead to superior performance. An e.g. is that innovative practices identified by learning and growth lead to more efficient internal business processes which in turn lead to a superior customer experience and eventually long term shareholder value. 4.1 Financial Cadbury continues to increase its profit margin towards its goal in the mid teens. 4.2 Customer Measurement Cadbury creates customer loyalty by identifying the exact amount of pleasure that customers derive from the Cadbury experience. This ensures that customers returned repeatedly and remain loyal. This has been an essential part of the strategic focus ensuring strong performance in 2008. (Cadbury Corporate Brochure 2008) Emerging markets have been identified as part of the overall strategy to reach more people, more quickly. As stated in the Cadbury India report in 2008, the overarching goal is this sector is to have more grams in more mouths. The potential for growth in this segment of the market is significant as the per capita consumption is very low compared to other non-emergent markets.0.03kg compared to 4.3kg in Europe. (Cadburys India Report 2008). The link between Cadburys relationship with Fairtrade is crucial to ensuring that company achieves its strategic objective of sustainability by increasing its supply of raw materials and ensuring the livelihood of the farmers who produce these raw materials.(Cadbury 2008 corporate brochure) 4.3 Innovation and Learning The challenges include managing different pay structures, different ethos, work patterns and hiring methods. The management of all of these aspects will have a significant impact on Krafts ability to successfully integrate Cadbury into its global family and reap the financial rewards that will make the union a profitable one. Successful integration studies have shown that monetary rewards do work, but on their own are not enough to promote a successful collaboration between two different companies engaged in a merger or acquisition. (Montmarquette et all 2004). Krafts pledge is to take the best of both approach to the acquisition. (Kraft Final Offer 2010) Kraft culture is different to Cadburys culture and this will have major implications for the successful synergy of the two companies. Tetenbaum (1999) identifies culture as being at the centre of any successful merger or acquisition. Hofstede (2001) identifies culture as the collective programming of the mind that distinguishes the members of one group or category of people from another 4.4 Internal business processes Innovation and research and development are key aspects of strategic success. Continuous investment in the development of new product ranges, especially in emerging markets, will be necessary to achieve strategic objectives. Cadburys extensive distribution networks ensure products are easily accessible to all consumers, from the large supermarket chains to the small corner kiosk in a remote part of India. The BSC is only as effective as the action taken as a result of the metrics indicated and measured. Leadership is important to ensure that the metric information is followed up and changes made to maximise the impact of these measurements on performance.(Neely 2008). Cadburys developing association with the Fairtrade brand ensures that it is meeting its corporate social responsibility objectives, as well as ensuring a constant supply of raw material for its products, a form of backward integration. Fig 5 4.6 Criticisms of the BSC: The recent global crisis has also highlighted the weakness in current measurement systems as they failed to identify the potential for risk for many companies. Analysis needs to identify, not only the historic performance, but also the potential future risks. Risk assessment and management needs to become an essential part of the any measurement system used in the future. Cadbury/Kraft must now identify, mitigate and manage risk in such a way that it becomes an integral part of their strategic management ethos. Management Control Systems will need to be agile enough to respond to rapid changes in the environment in which they operate in order to achieve their strategic objectives. Simons levers of control present an alternative system of measurement that includes complimentary metrics e.g., belief systems, interactive control systems and boundary systems etc. (Simons 1995). Fig 5 The BSC has been criticised as being too simple as a measurement/control tool. Businesses are more complex than just a few controls or levers. The functioning of the BSC has been compared to a pilot in charge of a flight from A to B. The BSC provides the mechanism for control and guidance in achieving the goal. (Kaplan and Norton 1996). The BSC is seen mainly as a diagnostic tool rather than a tool that aids strategic success. Where is the point of balance in the competing demands of the different measures?. For e.g. Cadburys overarching goal is delivering superior shareholder returns, but this must be balanced against the needs of staff. A trade off must occur at some level. Companies must understand the cause and effect relationship between the metrics in order to make the most appropriate decisions. Timing difficulties in respect of cause and effect relationships mean that the results of measures introduced may take a significant period of time to have an impact on the financial outcomes. It is essential to link the four aspects of the BCS to strategy to ensure its maximum effect on performance. Nair (2007) BSC can be seen as too rigid in its measurement matrices, i.e. just 4 elements and does not include risk, corporate social responsibility or environmental metrics. Need to conduct sensitivity analysis to measure responsiveness of performance to certain scenarios. More research is needed on the cause and effect outcomes for companies that use the BSC. Fig 6 4.7 Potential problems for Cadbury: Staff integration poses a significant challenge to Cadburys governing objectives. This is part of the internal process element of the BSC. This has the potential to derail the recent merger. (Shebioba 2010) Fig 6 shows how Cadbury can translate its mission into desired outcomes. Ensuring that all staff are aware of the new strategic direction that the combined company is now embarking on, and everyone understanding the impact their role has on achieving strategic objectives.(Regan and Ghobadian 2009) Fig 7 shows why companies fail to meet their objectives. Simons levers of control will assist the new Kraft Cadbury combination Fig 7 Source: Kaplan and Norton 1992 In order to successfully achieve its overarching goal of superior shareholder returns, Cadburys must successfully balance the barriers to achievement as identified above. 5. Conclusion Cadburys has now become a part of the Kraft family and there is a strategic focus on Kraft reaping the benefits of Cadburys strengths and position in emerging markets. The combined company will need to focus its attention on achieving new corporate goals and devising a strategy that maximises the synergy of the union between them. The use of the BSC or levers of control will aid management in measuring and achieving strategic objectives. It must be noted that in isolation any system that measures the performance of the company will be meaningless unless it is combined with other systems. There is still room for some work to examine the relationship between cause and effect and the impact this will have on Cadburys strategic performance. This is a crucial part of the integration of Cadbury into the Kraft family. Only time will tell if Kraft will get the sugar rush it envisages from the purchase of Cadbury for  £11.6bn. References: Andrews, K., The Concept of Corporate Strategy (Homewood), IL Richard D. Irwin Inc. 1971 Clark Andrew, Chocolate, chewing gum and coner shops, Why Kraft cant resist Cadbury, The Guadian. Tue 19 Jan 2010. Accessed 06/04/10 22:36 Hofstede, G. (1981) Cultures and Organisations: Software of the Mind, London: Harper Collins Henberson, B., The Origin of Strategy, HBR Nov- Dec 1989 Introduction to the Balance Scorecard. John Wiley . 2003 Inside the Kraft Foods transformation. Introduction by Chairman CEO Irene Rosenfeld, Strategy + Business issue 56, Autumn 2009 reprint number 09207 Kaplan, R. S. and D.P. Norton (1992) The Balance Scorecard: Measures that drive performance, Harvard Business Review, (January- February): 71-79 Kaplan, R.S., and Norton, D.P.(1996). Linking the balanced scorecard to strategy. California Management Review, 39 (1), 53-79 Kraft Final Offer document 2010. Kaplan, R. And Norton, D. (2001). The stratergy Focused Organisation: How Balanced Scorecard Companies Thrive in the New Business Enviroment. Boston, MA: Harvard Business School. Montmarquette C, Rulliere JL, Villeval MC, Zeilger R (2004) Redesigning Teams and Incentives in a Merger: An experiment with Managers and Students Management Science Vol.50, No 10 October 2004, pp. 1379-1389 Nair, B. (2007) Balanced Scorecard Performance Management Systems: Its success and failures- A Literature Review, 1 (3/4) Neely, A. (2008) Does the Balance Scorecard work: An empirical Investigation. Centre for Business Performance School of Management. Research Paper 1/08 OReagan, N., and Ghobadian, A. (2009). Sucessful nstrategic re-orienrtation:lessons from Cadburys experience. Journal of Stratergy and Management. Vol 2(4), 2009, pp. 405-412 Porter M. E., Competitive Strategy (NY: Free Press), 1980, xxiv Pandy, I (2005) Balance Scorecard: Myth and Reality. VILKAPA, 30 (1) Shebioba, J. (2010) International Business Assignment Simons, R. (1995). Levers of control: How Managers Use Innovative Control Systems to Drive Strategic Renewal. Boston: Harvard Business School Press Simons, R. (1995). Levers of control: How Managers use innovative control systems to drive strategic renewal. Harvard Business Review ? Strategy: Create and Implement the Best Strategy for your Business, 2005 p(xi) Tetenbaum, T.J. (1999). Beating the Odds of Mergers and Acquisition Failure: Seven Key Practices That Improve the Chance for Expected Integration and Synergies. Organisational Dynamics, Autumn 1999, 25-35.

Milgrams The Perils of Obedience Essay -- Psychology

Milgram's The Perils of Obedience Obedience is the requirement of all mutual living and is the basic element of the structure of social life. Conservative philosophers argue that society is threatened by disobedience, while humanists stress the priority of the individuals' conscience. Stanley Milgram, a Yale psychologist, designed an experiment that forced participants to either violate their conscience by obeying the immoral demands of an authority figure or to refuse those demands. Milgram's study, reported in "The Perils of Obedience" suggested that under a special set of circumstances the obedience we naturally show authority figures can transform us into agents of terror or monsters towards humanity. The experiment consists of two people that take part in a study of memory learning, one of them referred to as the "Teacher" and the other as the "Learner." The experimenter explains that the study's main goal is to observe the effect of punishment on learning. The learner will be seated in something similar to the electric chair, his arms will be strapped and an electrode will be attached to his wrist. The learner will be told that he will be tested on his ability to remember the second word of a pair when he hears the first one again. If he makes a mistake, he will then receive electric shocks of increasing intensity. The real focus of the experiment is the teacher. He will be in charge of a shock generator. The teacher does not know that the learner, supposedly the victim, is actually an actor who receives no shock whatsoever. Again this experiment is to see if the teacher proceeds with the shocks that are ordered to inflict increasing pain on a protesting victim. Milgram's first subject, Gretchen Brant showed th... ...enter. Although Bruno Batta had some difficulty understanding what to do, he after showed that he indeed appreciated help and was then willing to do what was required from the experimenter. When the learner in this case complained, Mr. Batta showed no signs of attention or disturbance whatsoever. At the end of the experiment he told the experimenter that he had been honored to be part of it. He showed no remorse. Milgram answers the question of why this problem occurred in our pasts, for example during the Holocaust, and still occurs within ourselves. The experiment unfortunately illustrates that it is easy to ignore responsibility when one is only a link in a chain of action in a multifaceted society. People feel is their duty or their job to obey an authority figure without realizing that nobody can make another individual do something they feel is not right.

Arendt And Freedman: Political Freedom

Political freedom is an ideal for both Arendt and Friedman. As political theorists they offer not only definitions to understand what political freedom is for them, but what necessary preconditions must exist in order for their ideal to be vitalized. Arendt explains political freedom as the right to be a participator in government. She implies that this means more than voting for a representative or having the opportunity to run for office. Arendt advocates that political freedom requires equal participation on behalf of all citizens and the involvement in politics is the most important part of an individual’s life. Friedman states that political freedom is the absence of coercion with the necessary precondition of economic freedom. Arendt and Friedman have different understandings of what political freedom is, but within their differences are similarities. Understanding what Arendt does not view as political freedom is essential in understanding what is political freedom because it helps in establishing the necessary means involved in obtaining political freedom. † should be no reason for us to mistake civil rights for political freedom, or to equate these preliminaries of civilized government with the very substance of a free republic. (Arendt P220) Arendt has established civil rights as something other than political freedom. Civil rights apply to liberation and not political freedom because civil rights do not necessarily assume the presence of freedom. Civil rights can be granted to a population under the rule of a tyrant in the form of a law, but when the population is not part of the formation of such a law then political freedom does not exist. According to Arendt, the presence of poverty does not permit the presence of political freedom. If individuals are forced to focus their efforts to fulfill biological needs such as food and shelter then they cannot possibly be political. Capitalism also prevents the existence of Arendt’s political freedom because capitalism is based on consumption. When the members of society are focused on obtaining goods and material possessions they become just as preoccupied as those in poverty. So capitalism creates greed and creates unnecessary needs and desires that inhibit political freedom. Political freedom requires an absence of as many social conditions as it does a presence of other conditions. Political freedom, as discussed in â€Å"The Revolutionary Tradition and Its Lost Treasure,† obliges the presence of a population who thinks in terms of â€Å"we† rather than â€Å"I. † When everyone in a society acts for a better community and thinks in terms of the community, they will be able to exist politically free. When the focus of the individual shifts from the private interests created under capitalism to a public interest necessary for political freedom, more will be done to benefit society as a whole as opposed to individuals in a private realm. Learning to escape the private realm and understand that of the public means to understand the possibility of a greater good found in working together rather than many separate smaller goods held by only certain individuals. When there are individuals with separate smaller goods there has to be individuals with their own separate failure and lack of essential good. Milton Friedman does not offer the same definition for political freedom, thus his means for obtaining political freedom are also separate from Arendt’s. Friedman presumes that economic freedom must exist in order for political freedom to exist, and the means to true economic freedom is through the capitalist free market. Friedman writes, â€Å"History suggests only that capitalism is a necessary condition for political freedom. † (P10) The free market should take care of it self, be free from forced government intervention, and thus establish an environment in which coercion does not rule. Friedman believes that it is the power instilled in Washington D. C. that is responsible for the current coercion through their economic power. The economic power of the government is derived through the process of taxation, a process of coercing the citizens of the state to fund an organization against their will to do the jobs that capitalism, when left to its own devices, will achieve. Friedman suggests that government should focus on military effort, and not issues unrelated. He says: This danger we cannot avoid. But we needlessly intensify it by continuing the widespread governmental intervention in areas unrelated to the military defense of the nation and by undertaking new governmental programs – from medical care for the aged to lunar exploration. Friedman P202) So Friedman believes that government intervention leads to the collapse of political freedom. He goes on to discuss his fear of intervention. I believe that we shall be able to preserve and extend freedom despite the size of the military programs and despite the economic powers already concentrated inWashington. But we shall be able to do so only if we awake to the threat that we face, only if we persuade our fellow men that free institutions offer a surer, if perhaps at times slower, route to the ends they seek than the coercive power of the state. Friedman P202) Political Freedom for Friedman is then merely the absence of government coercion and the presence of an economically free population that, through the free market, can actually take care and supervise themselves. Friedman is relying on the same factors to create political freedom that Arendt sees as inhibiting freedom. That is, he sees a capitalist free market as the necessary means to actually bring people voluntarily together, not coercively. Friedman says:Exchange can therefore bring about co-ordination without coercion. A working model of a society organized through voluntary exchange is a free private enterprise exchange economy – what we have been calling competitive capitalism. (Friedman P13)So Friedman is actually advocating that capitalism is not as competitive as it appears, and that it actually requires citizens to work together and thus benefit each other through their actions. This is similar to what Arendt signifies as thinking in terms of â€Å"we† rather than â€Å"I,† yet it is the exact ingredient that Arendt classifies as creating the â€Å"I. † It is peculiar that such contrasting opinions and explanation actually lead to the same ideal. Friedman and Arendt offer opposing means of obtaining political freedom, but there are similarities in what their means accomplish before the existence of political freedom. Both want a society in which individuals do something for each other, they work together for a greater good. The difference is that Arendt wants the cooperation to be based on politics while Friedman wants the cooperation based on free enterprise. Friedman wants less government involvement because he understands such involvement to be the basis of coercion. Friedman would rather have individuals voluntarily come together than be forced to come together. He sees political freedom as being free from the control of the state, free to evolve independent of government influence, and free to decide how to evolve. Friedman wants the government to have limited power because free enterprise will thrive in the absence of government intervention. Economic freedom will be created in the free enterprise and political freedom is the result. Another similarity between Arendt’s and Friedman’s differing views is the requirement of economic freedom. Although it is quite a major aspect for Friedman, Arendt does not focus directly on the topic. Arendt is just as much a supporter of economic freedom because she acknowledges that a state dealing with poverty and the fulfillment of basic needs cannot deal with political freedom. Economic freedom is the absence of such struggles and the presence of a means to be politically free. The similarity through presence of economic freedom is divided by the role of government. For Friedman political freedom is the absence of coercion, namely governmental coercion, not the presence of a highly involved government that Arendt advocates. Arendt’s political freedom is not the absence of government, merely the absence of representative government. She sees the concern of private life being too dominate under a representative system because, † the voter acts out of concern with his private life and well-being, and the residue of power he still holds in his hands resembles rather the reckless coercion with which a blackmailer forces his victim into obedience than the power that arises out of joint action and joint deliberation. (Arendt P 273) She is saying that representation leads to the problem of coercion, and it is coercion that Friedman sees necessary is not existing in the existence of political freedom. Without a direct democracy at the basis of a highly involved government political freedom is impossible because there is too much corrupt behavior and focus on private interests when the majority elects a minority to make the decisions for the state. Arendt envisions a society in which all of its members equally partake in the decision making of the government and they all work for the good of each other, not for a private good. Arendt establishes the aspects of life that have been private in the past as needing to be public in an effort to prevent corruption and maintain political freedom. Friedman does not advocate the same direct democracy that Arendt envisions. Instead, he expects the free market to essentially rule itself and take on the duties of Arendt’s government in the form of free enterprise. He sees the government as the cause of the coercion and presumes that the power should be taken out of the government. So this is an opposite response to Arendt’s view that the government should become larger, so large that all citizens are involved and have an equal say, thus preventing the possibility of coercion. Both Arendt and Friedman see coercion as preventing political freedom and both offer different means of ridding society of coercion. Political freedom is not an easily definable term. It is much like love, god, and friendship in that it has different meanings for different people at different times. Political freedom is about both the means of obtaining the ideal as well as the ideal itself. Friedman and Arendt present what they presume to be the means and the ends of political freedom, but neither is completely right or entirely wrong. It does not seem possible to create a set definition as to what political freedom is, much less what the appropriate means of obtaining political freedom are. It seems more important to try to distinguish certain common traits of what political freedom is rather than attempt to create a set definition. The common traits shared by Arendt and Friedman are that economic freedom and absence of coercion are necessary for political freedom. Political freedom, for both theorists, requires the action of a public community and not private individuals. They do not agree about the role of government, nor do they agree on the form government should take. Although it is important to distinguish what are and are not characteristics of political freedom, it is more important to understand that political freedom cannot be defined. Political freedom can be speculated about, but will not be truly comprehended until it is actualized. Only when political freedom exists will it be understood.

Promotional Campaign for AF

Promotional Campaign for AF Brand positioning Abercrombie and Fitch is an American apparel seller. It was one of the most successful clothing retailers in the country.Advertising We will write a custom report sample on Promotional Campaign for AF specifically for you for only $16.05 $11/page Learn More However, after the 2007 and 2008 global recession, AF have been recording dwindling profits for four consecutive years (Hoovers Inc. 2010). AF believes that discounts cheapen the brand and cause saturation (Rosenbloom 2009). Secondly, the organisation has not changed its product portfolio for close to two decades. Its clothes are not edgy as it mostly focuses on classical pieces (Datamonitor USA 2009). This approach has made it unpopular among the youthful market. Clearly, the company needs to reinvent itself if it hopes to survive in the fashion industry. The best place to start this journey would be in the international market, with specific emphasis on China. Shown below is a table il lustrating why the company needs to revamp its brand. Challenge Parameter Quantity Stores closed in 2012 number 71 Projected store-closures by 2015 number 1080 Sales declines in 2012 Percentage (%) 26 Sales declines in 2009 Percentage (%) 30 The chart above illustrates market share in the clothing retail market today.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More AF needs a new approach to its products. It has traditionally employed a risky sexual image to market its clothes. Flagship stores often use semi-dressed models to welcome clients. Several marketing campaigns have sparked off controversy on the overt sexiness of the brand. Additionally, the company uses its rich American heritage as a point of differentiation among retailers. Aside from the latter, the AF brand is renowned for high quality and sophistication. The company does not just sell clothes; it se lls a lifestyle to its consumers. Stores are dimly lit and stylish, while retail assistants endeavour to pamper their buyers. To maintain exclusivity, the company sells a maximum of 20 items to its consumers. However, such an approach seems to have failed in the recent economy. The company needs a marketing campaign that will revamp the brand (Percy and Elliott 2009). The following is a SWOT analysis of the company’s brand position Strengths Weaknesses Distinctive brand Expensive clothing Classic American image Highly sexual brand image Influential advertisements in the US Dwindling market in the US market High quality merchandise Lack of appeal among the youth Insensitivity to fashion trends Opportunities Threats Expand into Asia Indigenous Chinese brands may have a large market share Exploit cheap advertising and labour costs in Asia The highly sexual brand image may backfire in Asia Maximise casual consumption market at home Other western brands like HM are already in Asia Creative approach Marketing objectives The three goals of this promotional campaign are: Raise brand awareness in the Chinese market: The primary goal of the campaign is to penetrate the Chinese fashion market by fostering brand awareness. Increase brand sales: Poor performance in the home market necessitates increases in sales in the new market. Once the campaign has created customer trust, then this should lead to an increase in sales for AF products. Strengthen brand identity: The campaign strategy also focuses on strengthening brand identity by introducing efficient marketing ads. It will foster long-term perception of AF as a lifestyle brand. Key message â€Å"Bare yourself† is the key message in the campaign. While the latter communication has been used quite literally in western markets, this message will be reinvented in the Chinese market.Advertising We will write a custom report sample on Promotional Campaign for AF specifically f or you for only $16.05 $11/page Learn More Instead of attaching a sexual meaning to the phrase, AF will redefine it to mean self expression and truthfulness. There will be no shirtless models in the fashion show or outdoor posters and banners. The Chinese are very conservative people who would not resonate with such a level of explicitness. The promotion will emphasise pride in oneself as a plan for self expression. Media strategy Communication mix Public relations Social media awareness will be a significant pillar of the campaign. China’s primary social media website is Weibo. Therefore, AF will use this platform to implement the promotion. It will create a Weibo company web page that will contain information about the company, commercials and other updates concerning AF. Customers can also share their experiences with each other concerning the same. Additionally, public relations will occur through in-app mobile advertising. Here, the company will reach i ts target audience through a smart phone application. The target audience is increasingly relying on mobile phones for internet access, so this would be a highly effective way of reaching them. Finally, the company will sponsor sporting events so as to popularise the brand. Sales Promotion This aspect will involve student discounts, a fashion show, as well as a lucky draw. They will last for one month after launching the flagship store because buyers need an inducement to visit AF (Hackley 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More If customers purchase goods over a certain amount, they will be entitled to a lucky draw where they could win specific gifts. Fashion shows have always been effective marketing tools for this retailer in different parts of the world; therefore, China will not be an exception. When launching the flagship store, AF will have a fashion show that consists of intercultural models. The reason behind this approach is to show Chinese customers that the brand is international. Using only American models would alienate buyers and cause them to perceive the brand as exclusively western (Akaka Alden 2010). The event will host a series of Chinese celebrities, bloggers and media personalities so as to increase the popularity of the brand and to raise awareness (Belch and Belch 2008). Direct marketing AF will market its products directly to consumers through a mobile application. Individuals will get information through Wechat and QR codes. The retailer will communicate with buyers on the AF bran d such that the can know the basics about it (Cook 2001). Customers will see images of models in the retailer’s clothes; learn about nearby retailer stores and other sales intricacies. Advertisement The AF message will also be carried forward in mass advertisements. Train stations and high –traffic areas will have posters and banners that promote the opening of the retail store (Leiss et. al. 2005). Celebrities will endorse the product by wearing it, and their images will also be posted all over billboards in the Chinese capital Beijing. The firm will work with individuals like Edison Chen (shown below) to promote the business (McFall 2004). Other posters will have images of young couples jumping in the wind and others having fun at the beach. The posters will encourage buyers to express and bare themselves. Viral video campaigns will also form part of the promotional exercise. The ad will last for five minutes (Sasser Kosolow 2013). In it, two gentlemen, at a golf c ourse, will walk toward a parking lot while chatting. One of them will have an AF t-shirt while the other will not. Once they get to a well polished and impressive car, they will start looking for something and a parking lot attendant will come their way. The attendant will then hand over the car keys to the AF wearer because he looks like the owner of the vehicle. They both giggle and exchange the keys. As they drive off, someone in the background will say ‘With Abercrombie Fitch nobody will ever know the difference.’ The ad will be available in YouTube and will also air after the prime-time news. Implementation The four-stage campaign will start on 1st March and end on 31st May. These are the phases involved in the campaign Planning In this phase, the company will work with stakeholders, interview members of a focus group and prepare for the campaign roll out. The company will mobilise resources for the campaign and sign contracts with various media outlets. Planning will commence on the 1st of March and end on the 31st of March. Implementation Here, the organisation will launch the social media website, outdoor banners as well as the viral video. Implementation starts on 1st April and ends on the 30th of that same month. Monitoring During the campaign promotion, it will be crucial to monitor the effectiveness of the campaign. The firm will make minor adjustments in order to ascertain that everything is going according to plan (Rayner 2007). This aspect will take place between the 1st of Aril and 31st May. Evaluation: AF will carry out an evaluation of the promotional campaign after it is officially over from May. The company will analyse sales data and social media feedback. This information will be compared to retail competitors in the country as well as sales projections in the company. Target audience The campaign targets youthful, affluent Chinese customers between the age of 16 and 24. This market would be ideal for an American fashion bra nd because Chinese buyers have a strong preference for foreign products. International fashion retailers, like HM, are already doing so well in this country (Li 2010). Affluent or higher income consumers will also be part of the target demographic. BCG (2011) reports that affluent buyers in China look for emotional gratification in products. Wearing international brands assists them in gaining recognition and respect (Li et. al. 2004). This category of Chinese consumers is also willing to pay a premium for convenience (Li 2010). AF should place its flagship store at an affluent location so as to increase convenience. Price discounts need not be a priority for older, affluent buyers, so only students will be entitled to the incentive. Using celebrities to endorse the product will tap into the need for recognition that many buyers have. A youthful market would also be perfect for the brand because it is fashion savvy and impressionable (Evans et. al. 2005). They place a lot of emphasi s on new trends by learning about them from the media (Zhang 2010). Therefore, this demographic group pays a lot of attention to television advertisements, magazines and other forms of mass media. It is for this reason that the campaign will take advantage of a myriad of platforms (Fill 2009). The above category of consumers is the primary audience for the promotional campaign. However, this campaign will also consist of secondary and tertiary audiences. Trend-setting artists, bloggers and fashion icons will be the secondary audience. They affect opinions on fashion items so their support will affect the reception of the AF brand in China (Pickton and Broderick 2005). Finally, this campaign will also target sports clubs and societies in order to enlarge the brand’s popularity. The latter will be the tertiary audience, and their involvement will assist in lending credibility to the AF brand. Effectiveness The first goal of the campaign is to generate awareness. Therefore, the company will measure the number of visitors in the store before the campaign, during and after the campaign. New versus returning visitors will be compared. To assess the second goal, the firm will compare sales before and after the program. Additionally, the third goal of creating brand loyalty will be assessed by measuring increases in return clients. All figures are available through in-store sales (Chang Thorson 2004). AF will also assess the number of times that it appears on Chinese fashion blogs or websites before and after the campaign. It will monitor feedback from its consumers through surveys. The table below illustrates how the company will evaluate the value of each media platform. Method Duration of measurement Frequency of measurement Parameters Weibo (social media) Assessment of visitors, likes on Weibo Throughout campaign Bi-weekly Number of visitors In-app mobile advert Analysis of call-backs, emails, and correspondence Throughout Weekly Number of call-ba cks, emails and correspondence Viral video Total traffic on television media platform and viewers on YouTube. Throughout the campaign Weekly Number Fashion show Brand referral survey Number of AF mentions on blogs and magazines 3 months I week -% -Number In-store promotions Sales figure assessments One month Once Amount in dollars Outdoor banner Brand recall survey in nearby locations 2 months Once Number of recalls Conclusion Abercrombie and Fitch is an American retailer that is doing relatively poorly in its home market. The firm’s traditional marketing approach of promoting an exclusive lifestyle is falling out favour. Declining profits, store closures and negative sentiments testify to this. Therefore, the promotional campaign will deal with these positioning issues by introducing the brand to the Chinese market. In the creative approach, the key goals of the campaign are to raise brand awareness, increase brand sales and strengthen brand identity in the ta rget market. â€Å"Bare yourself† is the key message; however, the company will redefine it to mean self expression rather than the overt sexiness of the western campaigns. The media strategy will consist of a public relations, sales promotion, direct marketing and advertising segment. In public relations, the company will use China’s key social media website, known as Weibo, as well as in-app advertising to inform the public about its offerings. It will also sponsor sporting events. The sales promotions bit will consist of a fashion show in which celebrities, media bloggers and fashion writers will attend. Students will also get discounts during the first month of opening the flagship store. Direct marketing will consist of mobile applications. Advertising will involve banners and posters with images of celebrities and happy couples wearing AF merchandise. It will also consist of a viral video campaign in which a parking attendant will mistake an AF wearer for the own er of an impressive car. This promotion will target youthful, affluent Chinese customers as the key demographic. The secondary audience will consist of fashion icons, bloggers and influential artists. Sporting clubs and societies are the tertiary audience. AF will assess the effectiveness of the campaign through a comparison of new and returning visitors, in store-sales, visits on the Weibo page, call backs and email correspondence, brand recall survey, traffic on YouTube for the viral video, brand referral surveys and assessment of the number of mentions in fashion blogs and sites. Through these platforms, the company will revitalise its name and boost profits. References Akaka, M Alden, D 2010, ‘Global positioning and perceptions: International advertising and global consumer culture’, International Journal of Advertising, vol. 29 vol. 1, pp. 37-56. BCG 2011, The Age of the Affluent: The dynamics of China’s next consumption engine. Web. Belch, G and Belch, M 2 008, Advertising and Promotion: An Integrated Marketing Communications Perspective, McGraw Hill, New York. Chang, Y Thorson, E 2004, ‘Television and web advertising synergies’, Journal of Advertising, vol.33 no. 4, pp. 75-84. Cook, G 2001, The Discourse of Advertising, Routledge, London. Datamonitor USA 2009, Company Profile: Abercrombie Fitch Co., Routledge, New York. Evans, W, Price, S and Blahut, S 2005, ‘Evaluating the truth Brand’, Journal of Health Communication, vol. 10 no. 2, pp. 181–92. Fill, C 2009, Marketing Communications: Interactivity, Communication and Content, Pearson, Essex. Hackley, C 2010, Advertising and Promotion: An Integrated Marketing Communications Approach, Sage, London. Hoovers Inc. 2010, Hoover?s In-Depth Company Records: Abercrombie Fitch Co., Minale, Austin,TX. Leiss, W, Kline, S, Jhally, S and Botterill, J 2005, Social Communication in Advertising: consumption in the mediated marketplace, Routledge, London. Li, J, Ji n, X Liu, Y 2004, ‘Statistical analysis of Chinese urban residents’ clothing consumption’, Journal of Textile and Apparel, Technology, and Management, vol. 4 no. 2, pp. 1-12. Li, M 2010, Report of Chinese Clothing Industry Annual Report 2009, Guo Lin, Beijing. McFall, L 2004, Advertising: A Cultural Economy, Sage, London. Percy, L, and Elliott R 2009, Strategic Advertising Management, Oxford University Press, Oxford. Pickton, D and Broderick, A 2005, Integrated Marketing Communications, Pearson Education, London. Rayner, S 2007, ‘Brand communications at its best’, Elemental Design, February, p. 9. Rosenbloom, S 2009, ‘Abercrombie to Lower Prices; Penney’s Profit Falls’, The New York Times, 16 May, pp.B2 Sasser, S Kosolow, S 2013, ‘Desperately seeking advertising creativity: Engaging an imaginative 3Ps agenda’, Journal of Advertising, vol. 13 no. 6, pp. 5-30. Zhang, H 2010, Outlook to The Future of Chinese Clothing M arket, Na Lian, Wuhan.

Audi Research Paper Essays

Audi Research Paper Essays Audi Research Paper Essay Audi Research Paper Essay Investor Relations Corporate strategy Vision: â€Å"Audi – the premium brand† In adopting its Strategy 2020, the Audi Group has focused its core brand Audi on the challenges of the future. The strategy took on firmer contours during 2011 as the full potential of the mission â€Å"We delight customers worldwide† was explored in greater depth. It now gives more weight to new issues that have emerged as a result of heightened environmental awareness, growing uncertainty about the future availability of fossil fuels and increasing urbanization. The Audi brand’s strategy 2020 Mission: â€Å"We delight customers worldwide† The Audi brand’s products are compelling examples of the brand values sportiness, progressiveness and sophistication. In addition to building technologically advanced vehicles, the brand with the four rings aims to evoke customer delight in many other ways. The mission statement â€Å"We delight customers worldwide† therefore plays a key role on the path to becoming the leading premium brand. The Audi brand has defined its understanding of customer delight in greater detail in the following four areas of action: * We define innovation We create experiences * We live responsibility * We shape Audi We define innovation The declared ambition of the Audi brand to offer its customers high-quality, innovative vehicles is expressed in the brand essence â€Å"Vorsprung durch Technik. † This is accompanied by a clear design idiom that gives the brand’s progressive character a visual grounding. The models of the Audi brand feature a wide range of technological innovations. The Company has defined various key technologies that will occupy a special role in the development of new vehicles. For example, all activities involving electric mobility will be grouped together under the umbrella brand Audi e-tron. Audi ultra embodies the lightweight-construction technology that the Audi brand has been pioneering ever since launching the  Audi Space Frame  (ASF) in 1994. The brand has since intensified its activities in this field with a view to making vehicles ever lighter. Today, the Company focuses on the use of intelligent combinations of materials, which include aluminum, carbon fiber-reinforced polymers (CFRP), modern steel alloys and magnesium. Then there is Audi connect, the umbrella brand launched by the Company to bracket together trendsetting navigation and infotainment functions, as well as technologies that connect drivers with the Internet, the car and their surroundings. In addition to product-based innovations, the Audi brand is working on new mobility concepts. Since 2011, for example, customers’ mobility behavior in electrically powered cars has been the subject of a study that is part of the A1 e-tron fleet trial in Munich. We create experiences To delight its customers time and time again, the Company aims to create special, positive experiences that customers will associate with the Audi brand. These include modern sales concepts such as the showroom configurator, which makes it quick and easy for visitors to an Audi dealership to create the Audi vehicle of their choice on large screens, with life-like, three-dimensional images. In 2011, the Audi brand came up with a very special way of presenting its new Q3 premium SUV: the â€Å"Audi Q3 Cube. In selected downtown districts of major cities, including Barcelona, Paris and Munich, customers and interested parties were given the opportunity to discover the Q3’s qualities in a mirror-filled cube up to 14 meters high. Another way of experiencing the Audi brand emotionally is to collect a new car in person from the Audi Forums in Ingolstadt and Neckarsulm. Audi’s premium vehicle handover facilities demonstrate to the customer just how much care and precision go i nto building Audi vehicles. The program is rounded out by a look at the history of the Company and culinary delights. To make the experience even more special, customers can tailor the handover to their own individual preferences. Accompanied by a customer relationship manager throughout the entire day, they are given a personal tour of the factory, making the occasion a truly memorable one. We live responsibility The Audi brand also expresses customer delight through a form of corporate responsibility that seeks to strike an appropriate balance between social or ecological requirements and economic success. In order to maintain the high regard in which the brand and the Company are held and increase their lead over the competition, Audi has created a department specifically to address this task. Hand in hand with all the divisions, the Corporate Responsibility department pursues the strategic goal of value orientation. It advocates responsible action and behavior as the basis for sustainable success. The core management tasks of Corporate Responsibility also include defining strategic guidelines and decision-making criteria. These guidelines are derived from the Strategy 2020 goals and are intended to highlight the link between social responsibility, preserving resources and long-term economic activity. As a global company with nearly 64,000 employees, the Audi Group is very much in the public eye. Its capacity to supply information and reports on corporate responsibility matters is therefore being further expanded. We shape Audi The Audi brand will continue steadily with its model initiative and expand its development, manufacturing and corporate structures accordingly. In order to maintain its profitable growth, the Audi Group will focus even more closely on flexible, efficient processes, as well as strengthening its global presence and expertise. Product and investment decisions will continue to be made on the basis of how far they produce customer benefit. Successfully accomplishing qualitative growth hinges on the employees, who demonstrate immense expertise and passion for the products of the Audi brand. Superior financial strength In keeping with a value-oriented corporate management approach, growth only meets the premium standards of the Audi Group if it is simultaneously profitable. Qualitative growth is therefore a priority strategic corporate goal. This is achieved through effective and efficient structures and processes, systematic investment management and the ongoing optimization of costs. A high level of self-financing helps to preserve the Company’s ability to invest and act. It therefore fundamentally aims to finance investment from self-generated cash flow. Continuous growth The Audi brand achieved a new deliveries record in 2011 in selling a total of more than 1. 3 million vehicles. This positive development is primarily attributable to the attractive, diverse product range, which was again continuously revitalized and broadened in the period under review. In addition to the successor generation to the popular A6 full-size car line, product events included the arrival of the new Q3 premium SUV and the market introduction of the Q5 hybrid quattro. The Audi brand’s product range will continue to be progressively expanded. The Audi Group has set itself the goal of increasing deliveries of the Audi brand to 1. 5 million vehicles by 2015. The international sales structures will be expanded to handle the scheduled growth. The dealer network in China, for instance, is to be increased from currently around 230 dealerships to over 400 by the year 2013. And there are plans to expand the exclusive sales network in the United States, too, over the coming years. The Audi Group is also increasing its production capacity worldwide. Global image leader For a premium manufacturer, a strong brand is the basis for enduring success. The Audi Group therefore plans to establish an emotional bond between its customers and the brand and to keep steadily improving its image position through the attractive product range. The numerous national and international awards received in the 2011 fiscal year again reflect the public’s huge enthusiasm for the Audi brand. Attractive employer worldwide As part of its strategy to become the leading premium brand, the Audi Group regards well-qualified, committed employees as a priceless asset. Particularly as it becomes internationally more diverse, the Audi Group considers it vitally important to be viewed as an attractive employer worldwide. Against this backdrop, the Audi Group offers its workforce a stimulating working environment with attractive opportunities for development, commensurate pay and high job security. Regular internal surveys reveal a high level of employee satisfaction. In addition, external surveys have attested to the Audi Group’s high attractiveness as an employer both in Germany and internationally. * Print page * Bookmark page

Is social security a ponzi scheme Essay Example | Topics and Well Written Essays - 1250 words

Is social security a ponzi scheme - Essay Example Simply put, in the Social Security program funds are contributed by the working people and are used by people who have retired. The kitty, so to say, is being constantly replenished as is also being used. Thus Social Security is largely a pay-as-you-go program. To take the discussion further it is essential to know what a ponzi scheme is. (meaning of a) Literally speaking, a ponzi scheme is a fraud or a con. The element of deception prevalent in the scheme makes it illegal. In a ponzi scheme the participants or investors are told that their money is being invested in high return yielding real or financial investments. In reality, their money is not invested but is pocketed by the conman running the Ponzi scheme. The ponzi scheme promises returns that are far higher than the market rate. This high rate, which is too good to be true, in itself, should put doubts in the minds of the customer. However gullible investors do fall prey to such ponzi schemes. The earlier investors are paid off by the money contributed by fresh or new investors which keeps the scheme going (MacEwan 2009). In order to remain viable, a Ponzi scheme has to grow rapidly. In fact, the scheme would require double the number of investors/participants after every round of payouts. Let us now shift focus on Social Security. (description of the relevant properties of x) The Social Security program has a mode of financing and functioning and functioning which is pretty much similar to that of a ponzi scheme. However, the distinguishing factor is the intent. The purpose of Social Security is to give at least a subsistence income to the disabled, retirees, their dependents and underage survivors of deceased workers. (any member x of a must have the property p) Social Security consists of four separate trust funds namely the Old Age and Survivors Insurance (OASI) Trust Fund, the Disability Insurance (DI) Trust Fund, the Hospital

Marketing strategy Essay Example | Topics and Well Written Essays - 3500 words

Marketing strategy - Essay Example It is anticipated that for such status symbol goods the quantity demanded always increases with increase in their price levels. Thus, those nations who are rich in income can serve better markets for this classy merchandise. The report analyzes the market and business operations of Mercedes and recommends further ways in which it can improve in future. Table of Contents Marketing Strategy 1 Abstract 2 International business helps to coherent capital flows, technical skills and even service opportunities across the globe. Worldwide business is decisive in the globe of money-making contacts. This is the age of globalization and liberalization when almost all the companies of the world are going universal. Luxury car is a status symbol product in character. The probable consumers of these cars behave in almost a perfectly inelastic pattern with reverence to changes in prices. Thus, these goods do not pursue the general theories of demand and supply laws in economics (Sultan, 2011). It i s anticipated that for such status symbol goods the quantity demanded always increases with increase in their price levels. Thus, those nations who are rich in income can serve better markets for this classy merchandise. The report analyzes the market and business operations of Mercedes and recommends further ways in which it can improve in future. ... This is the era of liberalization and globalization when almost all the companies and firms of the world are going universal (LOC, 2007). Industrialized firms, companies involving music, arts and even the service firms like insurance companies and banks are all expanding their branches across the world outside their domestic terrain. International commerce helps to coherent technological skills, capital flows and even employment opportunities across the globe. The consumer’s are now familiar to variable choices of different goods and services. The market for goods and services has enlarged in every country with open trading, giving its consumers a wide variety of products. International trade also facilitates mobility of the workers in the labour market (Rutgers, 2001). The activity moves to a global level when there is reallocation of productive resources and facilitates preferential choices in business. To suffice the objectives of firms, organizations and people, business h ouses are getting involved into cross border dealings. Worldwide businesses have diverse branches like administration contracts, foreign trade, and franchising, licensing along with involvement in foreign institutional speculations. In the past 30 years the quantum of global trade has expanded in Billions. Global links have helped largely by improving the livelihood standards and augmenting technology for business. The business and trade guidelines are now integrated together between countries. It is estimated in 2013 that the business of high end cars contribute the greatest share of income generated in the luxury industry (PRLOG, 2013). The segment of high end cars has gone through