Microsoft in USA
This paper exhibits a market audit and a competitive analysis that focuses on how USA markets its Microsoft products. A market audit refers to evaluation of a marketing approach in a company by incorporating its objectives, activities and the accomplished outcome.
Analyzing the innovation of Microsoft product at the US market, it incorporates various strategies that appraise its clients. The relative advantage of marketing Microsoft products in USA is that it has reduced their average prices enabling clients to benefit by accessing a wide range of products. As a result of comparative or relative advantage, it has motivated a lot of individuals to engage in this trade activity. In addition, the relative advantage of marketing Microsoft products in USA is that it pays its employees a good income especially when they program their software products. The staffs at Microsoft have excellent professional background that empowers them with skills to market their products.
In terms of compatibility, Microsoft provides self check services that enable clients to see if their products are attuned with Windows 7 or Windows RT by clicking to this icon [+]. The complexity of operating the firm’s products is evident when Microsoft innovate modern use of tools that could deliver cloud without complication. This experience unites developers and business individuals to embrace cross platform technologies that facilitate the start up speed with enterprise grade in scalability. At Microsoft, trial ability has enabled them to innovate software products that enable their clients to experiment on a limited basis. Analyzing observability at this company, all innovations at Microsoft are visible across USA. For instance, the innovation of cloud experience by Microsoft has spread across USA encouraging business individuals to venture into this new technology. In regard to preceding evaluation, the major problems that face Microsoft products during marketing occurs when it innovate products that are hard to operate. For instance, the launch of windows 8 versions is different contrasted to windows 7 in menu buttons and this makes them difficult to use. As a result, this creates resistance in that despite their product innovation, corporate customers do not rush to embrace change.
Analyzing the market of computer software in United States, Microsoft sales it’s with aid of channel partners. This form of marketing has enabled the company to tap resellers and distributors and market their surface tablets to businesses across United States. At the market, Microsoft operates directly with its customers who are based in USA by ensuring that they acquire quality services from the company. The geographical regions that Microsoft markets their products include California, New York, Arizona and New Jersey. In these regions, the forms of communication and transport that facilitates marketing of Microsoft products are telephones and websites. In addition, the company incorporates staff vehicles that enable marketers to move from one location to the other to market Microsoft products to different regions in United States.
Analyzing the consumer purchasing habits at this firm, approximately two thirds of potential clients purchase Microsoft products in shops that they view the electronics. The patterns in using Microsoft products depend on how the clients value their applications especially in providing solutions to problems. Consumers prefer Microsoft Company because it markets products that they can easily use at home or in the office. The client’s shopping habits depend on whether they get the right product at the right price.
Analyzing the market audit at Microsoft, the firm distributes their products via retail outlets across different towns in United States. To diversify the marketing process, the firm has deployed middlemen at each retail outlet who speed up the process of selling the Microsoft products. To advertise its products, Microsoft employs use of social media to reach its target markets. For instance, after the firm innovate new software products, potential clients will be aware that they are available via digital platforms where they place orders and purchase the items. At Microsoft, they adopt sales promotions by offering discounts on their products to increase visibility of the company and attract attention of their clients via price reduction. The pricing strategy at the US Microsoft Corporation depends with a customary markup that entails 100 percent of the cost. This pricing approach enables the company to avoid operating at a loss and their types of discounts include the student discount. This is beneficial to students who purchase the Microsoft 2013 with purpose of attracting attention of other potential clients.
The competitive analysis of USA in marketing Microsoft products takes place when other competitors offer similar products and services at the market. Apple firm brings competition at the market by selling similar products but of high quality. For instance, Microsoft markets its computer products such as Dell, while Apple Corporation advances in their product innovation by introducing ultra-portable laptops such as Mac Book air. However, prices at Apple Inc are high due to their high quality products that suits high class individuals in society. The price of Mac book air laptop ranges from US$999 to US$1299 while a normal laptop at Microsoft only costs US$500. Microsoft competitor that is Apple incorporates advertising and promotion techniques through blogging and also tweet their products on social platforms. At Apple, they turn ordinary products into new ones and ignore critics to advertise effectively. The promotion strategy at Apple is that it uses young and educative staff conversant with technology to convince potential clients of changes and benefits they gain through purchasing their products.
At Apple, it estimated sales determine its size at the market that makes it one of the largest corporations when it attains a $500 billion mark. For a planning year, sales of products at Apple Company will contribute to growth in revenue by 9.2 percent. The government participates at the market through agencies and ensures that the firm adheres to regulation of United States. Through the government, Microsoft retail outlets in US access licenses at fair prices that grants them permission to market their products freely. Analyzing the market, there are opportunities and major challenges that needs attention at the marketing mix. Microsoft Company needs to identify opportunities by improving ordinary products through advancing them to meet the competitive standards at the market place. If they accomplish this strategy, they will have a chance to win over their competitors such as Apple in product sales. Conversely, at the market there exist major challenges that incorporate high competition from their competitors. To solve this issue, Microsoft needs to introduce quality products that increase their income growth to beat their opponents at the market. This is because such products attract clients who purchase them at expensive prices hence boost returns of the firm.
British Airways was the largest airline globally in early 1980s.It flew about 11.7 million passengers more than France Airline that carried 9.6 million passengers. British Airways registered great sales in United Kingdom amounting to forty-two percent of total sales. After merging of British European Airways and British Overseas Airways, the government Corporation owned it.
British Airways has been having various problems in its operations. After the merger, the economies of scale were expected to be favorable. However, it responded very slowly to the disappointment of the government. It registered continuous losses in the course of 1970s.The low profits were accelerated by the rise in price of fuel due to energy crisis between 1973 to 1974.The liberation of international flight fares led to massive price competition in transatlantic channels.
In 1978, British Airways selected FCB as its global agency. This meant that all nations were to work with FCB associates within their countries. Their main agenda was to attain favorable returns from the globalization rather than the centralization of management of advertising. The theme of quality customer care was maintained thereby raising the reputation of British Airways in United States.
The British Airways global brand was based on the product features. They emphasized on distinct scheduling of flights characterized with high degree of promptness. The pricing of the flights was key as well as the availability of necessary resources such as good seating facilities. The British Airways ensured quality catering and entertainment services in all its flights.
The concept of global brands received different reactions from various countries. In United States, it was perceived very well despite the few differences from the original British values. In several British colonies, the brands received reactions due to low reputation and credibility in such markets.
SMS Equipment & Weldco-Beales Manufacturing Industry Case
SMS is one of the primary providers of equipment in Canada, which provides solution services for the construction, forestry, mining, and utility industry. The company has established alliances with suppliers all over the world to assist meeting the needs of their customers. The company came into existence through the merging of three Canadian equipment dealers; federal equipment, coneco equipment, and transwest mining system. It has turn out to be a full-line distributor of heavy industrial equipment and provides a variety of services through different locations located across Canada. In forming a partnership with WBM manufacturing company, which specializes in designing and manufacturing of heavy equipment; SMS dedicates itself to servicing the construction, resource, forestry, mining, scrap recycling, and road maintenance industries. This partnership will aim at providing solutions that will improve product quality and performance in serving their customers’ needs and creating profound change in their communities(The Blue Book of Canadian Business 283).
SMS Company looks to leverage WBM as an investment partner as it pursues the forestry sector. SMS is not well familiar with the strategies and feasibility that is required in the forestry industry to enable them to attract subsequent revenue. The company can manage to provide all the equipment that may be needed in harvesting and transportation but will encounter difficulties when it comes to manufacturing and servicing the product. Furthermore, the company aims at filling the market gap and creating a large market base with the help and expertise of the WBM Company. Through this, the SMS Company looks forward to provide improved and quality services and products to its consumers. Together, the two companies lack proper channels of creating awareness and are looking for strategies in which they can tap into this new market, attract consumers, manage and supply their products.
In order for the partnership to be successful, the companies need to build their confidence during the sales process and determine whether the prospect will be a good fit for their products. The two companies should strategize by matching up their internal resource capabilities and their external environment. If this is done, it will help in promoting understanding and it will influence the company’s position in its actual and potential marketplace. Additionally, the joint venture will prove to be a strategic alliance that will seek to share the risks and rewards by the formation of a new entity under shared control. The alliance will also enable the two companies to gain competitive advantage through access to their partners’ markets, technologies, capital and people. This will be a venue, which will enable them to grow and expand more rapidly and efficiently by saving time and boost productivity independently yet in a partnership (Aylen 629).
Alternatives and Recommendations
The partnership of two biggest and successful companies in Canada should come up with both long and short term goals; that will see them prosper in the market. The two companies should also come up with specific great goals that aim at identifying their market place and focusing all their energy and company resources in achieving them. This will require effective approaches that will identify the strengths and weaknesses of its competitors by reaching out and targeting to satisfy the needs and services of their consumers(Canadian Forest Industries 29). They will carry out demographic surveys to identify with the consumers, the distribution channel that can be through either wholesalers or retailers and analyze both the end of consumer and the intermediaries. These will help in determining the measurable outcome of the laid out goals of the business plan and help the company in comparing and contrasting on the targeted results or numbers aimed to attain. The payback of the investment should be fair to the cost of investment and give benefits according to the resources of the company to keep the profits of the company.
The company should come up with goals and objectives that are in line with realistic growth of the industry. The objectives of the business should be reachable and attainable according to the amount of time and resources put in. To remain relevant in the trends of the market, the services and products offered should be based on the current conditions and realities of the nature of business. With current recession and changes on the economy around the globe, the goals of the business should be set in a dynamic and more flexible way to remain relevant in the market place. A period should be put in place to enable the companies accomplish their goals and objectives in a given period. There should be a time frame tied to the goal setting process that will guide the sales and management team of the company to meet its objectives.
Together, WBM and SMS should know their responsibilities, rights and obligations in running the business. With their independent accredited success, they are bound to create new synergic connections that will boost the performance of the combination to a higher level than that of the sum of the individual businesses. The joint venture will be able to achieve more with less in that 80% of the results will be an outcome of 20% effort put in and make continuous improvements by directing their individual resources and capabilities to the forestry investment.
This process will help the partnership to pursue a different line of business and expand their market and consumer horizons globally. In understanding and implementing the market patterns and strategies, the sales team will have to carry out a market research and consider various factors which include features and benefits of the product to its consumer, targeted consumer group, competition, product promotion, pricing, distribution channels and sales forecast. The team should also come up with a clear detailed plan that will help in identifying the location with a large number of consumers and for each customer group come up with a demographic profile that seeks in guiding them with the pricing and distribution channel of the product. The sales team will face risks that involve lack of proper technique and outsourcing ways in which to attract consumers that are already well acquainted with other competitors in the market. The challenges will come in identifying their competitors. They will have to establish which areas are very competitive. These aspects of the market will help in identifying the strengths, weaknesses, opportunities and threats of a business and enable the team to deal with them effectively(Pulp and Paper Manual of Canada 336).
Short plans and programs should or rather need to be implemented. The plans should include providing resources and knowledge to the sales and management team to break out of their normal comfort zone in dealing with particular products and to adjust to the forestry industry. This should be accompanied by a training camp that will enable the team to do field work activities that will assist them to introduce the product to the market and give them an opportunity to identify themselves with it. The proper assessment of the product will translate to the prosperity and success of the product according to the response and feedback collected through the fieldwork. On long-term basis, the team should come up with a system that will identify networking ways to promote their products such as trade shows, catalogs, dealer incentives and network of friends and professionals. This will be a way of advertising that will create an image for both the company and product. The ways of advertising will also help determine what image the consumer is expected to have about the company. In addition to advertising, they should come up with a plan of a graphic image that will be used as clear definition and presentation of their product. This will include cards and letterheads, brochures, logo designs and signage. At the end of having considered all these, the team will be needed to prepare a systematic budget, which will incorporate the startup financial aid that will be required to run this process, time and resources that are needed. The use of forecast sales will be a projection of the sales based on historical sales, the marketing strategies, market research and industry data. They should be prepared in two different forecasts, that will display the best sales case scenario and the worst estimates that considered according to the research and survey (Block and Natalie 118).
Setting of goals is very important to several institutions. This is because goals enable or rather make an institution to work or operate towards a certain vision. To begin with, for the SMS and WBM companies, when they came into partnership, they had to set specific goals. These goals had to be clear and easily understandable. They directed the teams to what is expected of them, why the partnership is important, who is involved in the development of the two companies, and which requirements are needed to push the two companies ahead. The specific goals also enabled the two companies to identify possible constraints that could hinder their expansion and development. Moreover, the two companies came up with measurable goals that determined how much, how many, and when the dreams or targets of the companies will be accomplished. The partnership of the two companies also set achievable goals. That is to say, they are goals that explain or determine how the aims of the two companies can be accomplished. Relevance of goals should also be considered when coming up with goals. Thus, the two companies came up with goals that determined whether their partnership was worthwhile, whether it was the right time for it, whether they had the right people to spearhead the partnership, and whether the partnership would have an influence on the social and economic society. It is also worth to note that when the SMS and WBM companies came into partnership, they had to set goals that were time-bound. These goals enhanced commitment among the members of the two companies and they worked with the aim of achieving something at the end of a given period or sue date. Besides, the time-bound goals set in the company helped establish a sense of urgency.
Aylen, John. Starting & Running a Small Business for Canadians All-in-One for Dummies. Etobicoke, Ont: J. Wiley, 2012, pp 629. Internet resource.
Block, Tristan, and Natalie Hosmer. The Canadian Hidden Job Market Directory: Canada’s Best Directory for Finding the Unadvertised Jobs. Toronto, ON: Sentor Media, 2006, pp 118. Print.
Canadian Forest Industries. Don Mills, Ont: Southam Business Publications, 1964, pp 29. Print
Pulp and Paper Manual of Canada. Gardenvale, Que: National Business Publications, 1930, pp 336. Print.
The Blue Book of Canadian Business. Toronto: Canadian Newspaper Services International, 1976, pp 283. Print.
The brand Nivea at the initial stages of inception targeted only the high class in the society within Europe. However, later on, the ideal could not hold, especially after the emergence of common products that appealed to the general households within Europe and the US in 1922. The identity markers played a key role in enhancing the brand equity such that by being “caretaker” the firm became a custodian of the skin ranging from all skin types including a uni-sex brand image. Therefore, by the ability to satisfy the needs of every family member, it became a partner of many European households. The brand creates a cash cow mentality through resource investment to other brands. The Nivea Crème, for instance, forms a core product that is extended to various skin products as well as unisexual variants of the products with related functionalities. The key variants of management of change involve the general body factors heightening to deodorants, bath product, as well as hair values. The brand maintains a Nivea connotation despite the various creations.
The brand extension strategy is relative to the common needs and beauty requirements of the world’s population. While striving to provide products for the entire population, the firm creates a brand of equity and satisfaction among various classes across the world. Additionally, while focusing on the Nivea structure, the expansionist idea has also touched on targeting beauty and facial elements that appeal greatly to the gender requirements and population.
The future is bright for the firm despite the rising elements of competitors in the market. The top management must therefore ensure a top-notch that connects closely to the provision of services to clients that will subsidize the Nivea brand. The brand can also be linked to CSR activities that will enhance a connection between the brand and the clients and enhance sustained connectivity
Keller, Kevin Lane, M. G. Parameswaran, and Isaac Jacob. Strategic brand management: Building, measuring, and managing brand equity. Pearson Education India, 2011.
Launching the BMW Z3 Roadster
Even though BMW executives had not launched the new BMW Z3 Roadster, they were sure that the launch would be a success. The major challenge that the company faced was to design a marketing strategy that was able to sustain the excitement about the product in the market until it was availed in the market in March. BMW is a German company with branches all over the world. The Z3 was the first ever vehicle to be made in the US. Therefore, the company executives were to design a marketing strategy in such a way that it would easily influence people’s perspectives about BMW in the United States.
James bond was a household name in the U.S. Therefore, by using such a public figure in the launch, BMW would be positioning the Z3 at a higher position in the Americans lives. The BMW executives were only establishing the vehicle as a cultural icon. Additionally, the strategists wanted to get the car on the agenda of most people’s daily discussions. Furthermore, the James bond video was mutually beneficial for MGM artists and BMW. On the one hand, MGM sought a partner that would help revive their 33 year old Bond franchise. On the other hand, BMW sought a premier movie placement that was capable of reinforcing its brand image.
Using the bond film had its advantages and disadvantages too. By using the movie as a premiere, BMW was capable of getting the attention of the whole of America. However, not everyone likes James Bond movies. Therefore, BMW would only reach a particular target market that was interested in James Bond movies.
International marketing refers to strategic implications that engage different states to compete in business to create awareness of their products and services across the globe. For effective marketing, there is a need of a professional who understands the economic and cultural analysis of a given state. This paper presents a cultural and economic analysis of the United States and Microsoft Company.
Cultural Analysis of Microsoft Company
This is the US based firm that produces, issues licenses, and sells computer electronics and software. Analyzing the Microsoft firm in the US, it is ranked as the largest software company that generates a lot of revenue. Microsoft Company was founded on April 4, 1975, by Bill Gates and Paul Allen. Based in the US, the company has a mission of assisting individuals to realize their full potential and develop businesses across the globe. In this case, the country that I wish to execute trade is the US, while the products to be exported are computer electronics.
Microsoft is a company that embraces culture when it hires staff from diverse ethnic groups. For instance, the firm has over 44,000 employees in approximately sixty states. These employees play a significant role of marketing computer electronics internationally. In the US, the success and growth of the company is driven by factors, such as development in production of software applications and marketing of operational systems. This company promotes culture by training employees from different parts of the country. Furthermore, Microsoft recruits specialists who are young and talented from universities and colleges across the country. At Microsoft, individuals who conduct interviews are experienced employees, but team managers are responsible for hiring and ensuring that the new workers markets products of the company effectively.
Culture at this company allows recruiters to hire employees with best qualifications who are then guided to take care of their job responsibilities by performing different tasks. At Microsoft, employees are paid a salary that is relatively low but compensated with excellent benefits. The culture at Microsoft is a vital factor that articulates to motivation of an employee, quality of work, and development of the firm. Furthermore, this company creates an anti-bureaucratic atmosphere that permits employees to take risks. This software business incorporates a culture that expects new hires to have knowledge concerning the material and requirements of their job responsibilities.
In the US, Microsoft incorporates eight career categories to identify the staff potential and assist in marketing. These categories include network specialist, media specialist, database administration associate, programmer analyst, information systems operator, technical writer, software engineer, and support representative. The Microsoft Company in the US provides programs that are recommendable in technical training and offer to diverse employees. The culture of this company requires creative, innovative, and bright individuals to fulfill its mission. It also incorporates values to support the culture, such as honesty and integrity among the working staff. The company advocates for technology and has a passion towards customers and partners. Microsoft’s culture allows employees to be part of self-critical questioning that commits them to self-improvement and personal excellence.
To instill marketing skills among the staff, Microsoft Company sticks to two types of training namely on-the-job that is offered at the work place and off the job that is provided at the classrooms. This is beneficial to employees because from the training, they acquire knowledge to market Microsoft computer electronics at international levels. Diversity is part of culture at Microsoft Corporation and applies to their recruitment programs. For instance, the company has initiated a Diversity Advisory Council that offers two programs, namely Business of Diversity and Diversity Awareness. These programs support different cultures at the company when they maintain talented employees from various backgrounds. Microsoft also promotes cultural diversity by giving back to the community through donating its computer products to public libraries and institutions of higher learning. In the US, Microsoft believes that diversity enriches its products and empowers them to offer excellent marketing services to the society.
Cultural Analysis of USA
The United States is a country whose cultural history began in the late 18th century. During this period, diverse immigrant groups contributed to formation of the American culture. As a result, this culture developed and encompassed the entire country. They reflect knowledge, American customs, events, culture, social, and political settings.
Based on the geographical setting, the USA is the third largest state in the world because of its land area and population. Geographically, North America borders North Atlantic Ocean in the East and North Pacific Ocean in the west between Mexico and Canada. The climate in the USA is temperate, tropical in Florida, and arctic in Alaska. The topography in the United Sates is characterized by vast and central plain mountains in the west and broad river valleys in Alaska. In the US, social institutions consist of different categories of families in which the nuclear is identified as the traditional family. This family group consists of only children, a father, and a mother. Conversely, the extended family incorporates many members, such as a father, two wives, their children, and relatives. Culturally, the roles of parents in the US differ depending on their gender. The mother concentrates on nurturing development of the child while the father contributes by ensuring that he provides all the necessities that are required by the family. Analyzing concept of courtship and marriages, it is evident that in the America couples meet on different platforms. For instance, this happens traditionally when they are introduced through friends while others meet via Internet and plan a wedding that unites them in marriage.
In the US society, female and male roles are changing and this is evident when initially majority of women were housewives but nowadays they struggle to balance between family and work. During recession, approximately 80 percent of jobs belonged to men rendering a large population of women jobless. However, this has changed due to equality between genders, which permits women to work and earn salary as their male counterparts. The function of education in the US is to provide opportunities to the less advantaged children to achieve their goals and become successful persons in future. The education system in this country aims at reinforcing rather than compensating for differences that exist in family backgrounds. Primary education in America consists of eight levels of development that allows children to start learning at the Kindergarten at age of five years. Secondary education takes six to seven years after which students are awarded their 12 grades and certified with a high school diploma. In the US, higher education is the last level of formal learning available for students who have completed their secondary level. Admission to universities is optional and students who are eligible to enroll are those who passed and can afford to pay the fees.
Despite the education system that is available in the US, the level of literacy has not changed for ten years. A study conducted by department of education reveals that 14 percent of the population is still illiterate. This is evident when 32 million adults cannot read, while only 21 percent read below a fifth grade level. The political system in the US is under a federal republic that consists of fifty states. This implies that power in this political structure is divided between the central government and the surrounding states. In this structure, the national and federal government consists of three arms namely legislative branch, executive and judicial branch. The political parties are the Democratic, Republican and the Third parties. Stability in the US government is evident when there are rare cases concerning violence in the country. The special taxes imposed by the local government include income, sales, imports, payroll and property. In America, the role of the local government is to attend political events and handle issues that face people in society.
Economic Analysis of Microsoft Company
At Microsoft, they contribute to the economy through international marketing that enable them to sell their products and give back to society. In 2008, the company was ranked as the second largest employer in Washington under the private sector. Employees at Microsoft receive 3.96 billion dollars as their compensation in wage. The gross wage compensation at the firm amounts to 5.98 billion dollars that incorporates non-wage benefits, wages and salaries. As a result, this motivates the staff to work hard and expand their businesses to other states. The Microsoft wage compensation per employee accounts to $100,608 and the gross wage is $ 152, 212. To support its marketing operations, the Microsoft Corporation in US purchased goods and services worth $2.15 billion from producers. The company incurred a total of $7 billion dollars in compensation with $2.15 billion allocated to operating expenditures. In total, the company contributes to the US economy when it gives back 9.16 billion dollars to the society. As a result, such expenditures boost the economy by creating job opportunities via the multiplier effect.
Analyzing capital income in a year, Microsoft Corporation contributed a total of 18.95 billion dollars to the economy. The contribution of this firm to the society lead to 267, 611 jobs that formed 8.4 percent of employment in the United States and expanded its employment rate by 13.4 percent. Furthermore, the rapid growth of development in this company made it the largest contributor to economic growth of the US. Majorities of jobs offered by Microsoft were categorized under service sectors and were also well paying jobs contrasted to those offered by other companies in society.
Economic Analysis of USA
The economic analysis of the United States incorporates statistics concerning the gross domestic products of the country. This is accomplished through an agency in the US, namely Bureau of Economic Analysis BEA that offers vital economic statistics. The Gross Domestic Product GDP of the US was expanded to 2.40 percent during the fourth quarter of 2013. These statistics are over the previous quarter and the growth rate of GDP in America marks an average of 3.24 percent from 1947 to 2013. America consists of the most technologically advanced and diversified economy in the world. Investments such as real estate, educational services, finance insurance, rental leasing, health care; professional business and social assistance contribute to approximately 40 percent of the GDP. Business activities on wholesale and retail level also create 12 percent of the wealth.
The economic analysis of the US incorporates 13 percent of GDP that belongs to fuel, infrastructure accounts for 10 percent while Agriculture contributes only 1.5 percent of GDP. Currently, the population of the USA consists of 311 million people ranking it as the world’s third largest country in population. The growth rate in the US reflects a burden that is imposed to the country because it changes the requirements of people. Analyzing the population growth rate, the number of birth rates has decreased due to the economy that experienced recession in 2008. The population distribution in this country falls under different categories. In the US, the age of 0-14 constitute of 32,344,207 males and 31,006, 688 females. The age from 15 to 24 years, constitute of 22,082, 128 male and 21,157,025 females. The age category of 25-54 years has 63, 802,736 males and 63, 581, 749 females. From 55-64 years, the number of males are 18, 699,338 while females are 20, 097,791. The population of 65 years and above consists of 19,122,853 male and 24,774,052 females. In America, age structure in a population affects the major socio economic aspects of this country.
The Gross National Product refers to a market value of all services and products in a country on annual basis and it allocates production in relation to ownership. In the United States, GNP was initially used to check on the total economic actions before they moved to GDP. According to statistics, the country experiences inflation due to hard economic times that reduce personal income per capita. Distribution of wealth in the US relates to income that an individual earns as a salary. For instance, citizens in category of high-income classes are wealthy contrasted to those who earn less in this society. As a result, the distribution of wealth is distorted and leads to inequality creating a wide gap between the rich and the poor.
In the US, surface transportation incorporates ports that contribute to the economy through its shipping activities. These ports serve as a medium of transport and supports imports and exports of goods and services between the US and other foreign countries. Federal Regulation Commission is a body that controls communication in the country. For instance, the telephone systems are large and advanced because they incorporates both landlines and mobile services to enhance communication in the country. Other forms of communication include broadcast and print that have newspapers such as the Washington Post. Analyzing the working conditions, the employee relations in the US are developed through Labor and Employee Relations Network LERN that negotiate and discuss issues and trends affecting jobs in the country. This improves the economy when employees share ideas that assist to boost businesses. It creates an economy that has income inequality and in the US, this trend has grown since 1970. In this society, top earners and middle class are the groups who benefit a lot in this economy while low class suffers from poverty.
The foreign investments in the US are beneficial because they raise the Gross Domestic Products and this improves lives of residents. In addition, it creates opportunities, such as employments and incorporate different sectors that range from transport, mining, and agriculture. The international business statistics in the US provides information concerning its major imports and exports. For instance, major exports are aircraft that contributes to 8.3 billion dollars and electronic equipment that accounts for 5.4 billion dollars. The top US imports are vehicles exchanged at 52.9 billion dollars and electronic equipment that are exchanged at 20.4 billion dollars. Generally, the US economy is improving but on a gradual basis because the country still experiences a wide gap between the rich and the poor.
- Snapple Brand Image
Snapple Corporation can be traced back to 1972, when Leonard Marsh and Hyman Golden established it. The company was the first one to produce all-inclusive natural beverages in Brooklyn New York. In 1980s, the company launched iced tea and ready-to-drink juices. Snapple was the first company to sell beverages in single serving glass bottle instead of the ever-present aluminum cans. Snapple’s brand equity is derived from its natural constituents, promotional campaigns, and non-carbonated drink. What is more, the company brand equity comes from its taste experience to consumers.
- Where Quaker went Wrong
Quaker should not have acquired Snapple because it did not fit the company’s culture. Quaker is solid; wellness oriented, and has moralizing advertisements. Snapple is impudent, stranger, and its advertisements emerge as low budget. Quaker abandoned Snapple’s set-up of reputable distributors by trying to create a partnership. This move damaged the relationships that Snapple developed for many years. In addition, Quaker changed packaging and bottle sizes that Snapple had been using. Quaker and Snapple did not see the world in similar angle. Upon the acquisition, Quaker could have detached itself from the acquired subsidiary.
- Effects of Snapple’s Sale to Cadbury
The sale of Snapple to Cadbury enhanced Snapple’ brand equity because Cadbury has good marketing strategies. Snapple was in a dire need of countrywide promotion, which Cadbury did. Furthermore, Snapple needed to rebrand its products and Cadbury initiated exotic flavors. This was enhanced by creative advertisements.
- Restoring Snapple brand
In order to reinvent Snapple’s brand image, Cadbury needs to make Snapple an autonomous business unit and run the brand separately with its own identity. Running a small brand alongside bigger brands kills its potential for growth.
Oakhurst Dairy Business
Oakhurst was able to remain in northern New England due to the adoption of sustainable approaches. Most of the family dairy businesses were reduced completely because of external factors such as politics and changes in economic conditions. However, Oakhurst’s survival can be directed towards its strategy developed on lean manufacturing and operational efficiency, development of business value, and continued psychographic-oriented marketing and equity branding. These are the main reasons behind the survival of Oakhurst in the region.
The sustainable practices played an important role in the success of the business. Oakhurst dairy sustainable practices focused on branding, operational efficacy and commitment to the company’s environment and thus, assisted the small dairy processes and relaters. The business also took part in the U.S dairy Sustainability initiatives that mapped and recommended relevant programs to reduce the greenhouse gas effects in the industry. The sustainability helped to create a good public relation with the society and thus, led to the long-term existence in the market.
From 2011, the Bennett family faced many challenges in the operations of the diary business. Some of the challenges they faced include increased costs of fuel and energy, death of Stanley Bennett and lower rates of economic growth in the U.S. Bill Bennett sated that the year was difficult due to increased competition and lower margins. Oakhurst’s strategies to minimize the effects of carbon emissions helped in providing sustainable strategies and practices to control the challenges. The leadership of the business relied on the strategies to reduce carbon emissions to create innovative ways. This sought to improve operational efficiencies, reduction of operational costs and increased profitability in the dairy business. Therefore, Oakhurst was able to handle the carbon emission issues in the community through its operational efficiencies.
Marketing Research Paper on What environmental factors have affected the types of costs in the airline industry after 2001?
The Marketing Environment
What environmental factors have affected the types of costs in the airline industry after 2001?
The external environment has not been that conducive for the airline industry after the terror attacks on 9/11. The rate of market growth plummeted for three years before regaining momentum. Terror threats and fluctuating oil prices due to uncertainties in the Middle East made air travel a bit expensive, putting off potential customers. Rising oil prices drove up the cost of fuels diminishing the profit margins of the airlines. The economic downturn of 2008 also affected the airlines badly. There is little differentiation between the airlines, which makes the competition stiff. This is because buyers are subjected to low switching costs. New entrants in airline travel face a great challenge competing against veteran and established brands. The new regulations put in place after the September 11 attack make it even more costly to conduct business. The alternative means of transport, such as trains, cars and buses are preferred more by customers in need of cheaper transport, and those that travel shorter distances. The alternative means of transport therefore tend to present a great challenge to the airline industry. Purchase of aircrafts is expensive as it requires specialized mechanics for each model. The workers of airlines are unionized and this compromises the revenues of the firm having to give in to their demands. From the look of things, the best tactic is to increase the market share. Most of the big airlines have tried this by having mergers.
What specific tactics has Southwest deployed to blunt or exploit these environmental factors?
Southwest airline has focused on a market segment of flying point to point within America while utilizing the underused airports located near cities and metropolitans. This helps in keeping the fare low priced and in reducing the turnaround time in these airports. The airline has stopped offering meals to clients in order to save on costs. They have a fleet of only one model of aircraft in order to save on maintenance costs. Clients are never charged extra for their luggage, unlike in the other airlines. The prices are kept constant even when the demand for travel increases for the sake of reliability. Instead of hiking the prices, this airline increases the frequency of flights, which ends up earning extra revenues as would be the case if fare were increased. The passengers do not get preferential treatment or classes. There even is no assignment of seats.
How have these factors influenced Southwest Airline’s marketing strategy?
Southwest airline plans to increase its market share by 5% through acquisition of JetBlue airline. This will also enable it to diversify its destination to the Caribbean. The major clients of southwest airline are businesspersons and retirees. This firm plans to appeal to college students, young professionals and new retirees through rigorous advertisement on social networks and the mainstream media. It has the objective of increasing the offerings given to the current customers in order to increase loyalty and reduce their chances of crossing over. This may be done by having partnerships with other brands that provide shuttle services, cab services and hotel accommodation. This would help in increasing the revenue gained from clients while enriching their experience. The firm also aims to sell ancillary services to the travellers as one of the ways to increase revenue while minting a quality travel experience.
Marketing at IKEA Industry Furniture
This article analyzes IKEA group, which is the world’s top dealers of furniture at retail level. The problems that faced IKEA as the furniture industry are evident when the company began in America. At first, operators of the company discovered that individuals were not interested in their products. During that time, they used to sell furniture such as kitchen cabinets, beds, and sofas, which Americans found them less attractive to fit their comfort. The reason why IKEA furniture did not meet American preferences is that their dimensions were in centimeters and not inches. As a result, these complaints from customers led to rise of problems, which decreased marketing at IKEA industry. However, in response to such issues, operators at IKEA sorted them by paying close attention to complaints they received from customers. Based on market research, IKEA were capable of addressing these issues by concentrating on their products, and merchandise to win and attract clients. In future, this company intends to expand its marketing strategy by initiating 50 stores to operate in the United States by 2013.
The key issue that affected IKEA in marketing its furniture is that it had a limited selection when it comes to style. This occurs despite the fact that IKEA sells diverse types of furniture, but fails to satisfy the Americans preferences. The other issue that affected marketing at the company is that IKEA did not have enough sales representatives to serve their customers. In the process, they lost a lot of customers due to low number of employees. The other issue that affected marketing at the company is the fact that the market was highly fragmented in that the top 10 retailers could only account for 14.2 percent of market share. This led to a wide dichotomy between low end, and high end retailers leading to poor sales and income. In addition, customers had a negative sentiment towards their products, which did not satisfy needs of Americans because; they were outdated. (Schiff man 58). The other issue that is linked to performance of IKEA furniture industry is the homeownership rate that is sensitive in United States. This means that when plenty of customers own homes, they will be willing to purchase household goods in plenty, which incorporate furniture, hence; increase demand for furniture.
IKEA is a furniture industry that consists of diverse entities across the world with the recent, which is established in United States. It sales a wide range of furniture such as beds, sofas and kitchen cabinets that are suitable for a home setting. In addition, IKEA has also established a website to assist in marketing their products. Its goal is to have over 50 stores that will be operating in United States by 2013.
Bargaining Power of Buyers
The industry incurs poor services in relation to bargaining power of buyers because of insufficient number of employees. This follows after a lot of clients visit the IKEA stores and end up not being attended to because their ratio is higher contrasted to that of employees. As a result, customers opt to visit other furniture stores with plenty of staff who can cater for their needs.
Bargaining Power of the Supplier
At IKEA, the bargaining power of the supplier affects how this business operates. The reason is because they do not offer services or products to meet satisfaction of the clients. As a result, IKEA has improved its services by providing different types of furniture to suits variety of clients while focusing on their levels of profits and revenues. This has enabled the suppliers to increase their creativity by offering furniture that satisfies their customers.
IKEA industry experiences relatively low threat of new entrants in the United States. This is because of the cost as well as performance advantage of the existing firms associated with low cost and efficiency in operations. In addition, market shares and strong brand identities play vital roles in restricting new entrants into the industry. Other barriers include insurance, licenses, and qualifications of operations.
IKEA industry suffers from a very high threat in relation to substitutes. For instance, there are many business involve in production of furniture which leads to competition. In addition, customers opt to purchase furniture that is available at the nearest store to cut on transport costs.
At this company, a high rivalry exists in regard to exiting business entities within the industry aided by the fact that the industry is mature thus no longer growing at a rapid pace. In addition, there is no substantive differentiation of the products within the industry. Consumers also do not incur costs while switching from one operator to the other.
Consumer spending is a factor that affects purchase of furniture at IKEA, and is the amount, which people spend on goods and services. However, clients can only spend such funds when they are confident about stability of the economy, and availability of the disposable income. This implies that when customers are not comfortable in spending due to poor economy, it also affects the furniture industry because; they will not find it affordable to purchase them. In addition, demand from department stores has encouraged operators to allow great discount on furniture, and this trend entices consumers away from traditional furniture stores. To improve this situation, IKEA has gone a step ahead by creating an inviting atmosphere with amenities such as play rooms for children, and setting their furniture prices low, which increases their marketing.
Firm Analysis SWOT
This incorporates strengths, weakness, opportunities, and threats which has an impact to IKEA organization. Analyzing the possible solutions, there are various advantages, and disadvantages in relation to IKEA furniture industry. First are the advantages and limitations of producing products with latest trends. Personality and self concept influences the purchasing behavior of a customer. The advantage part is that if new products attract individuals with personality described by this character, they will increase sales of furniture. However, limitation is evident when potential clients lack such traits; they exhibit lack of interest hence; affects marketing. Perception affects customer’s behavior and determines whether they will purchase products on sale. Analyzing solutions to increase purchase of furniture, the advantage part is that a customer with a positive perception will end up purchasing them. However, it is a disadvantage if a client perceives the store to have a poor display, this may affect his purchasing behavior hence; decrease in sales.
Alternative Ways of Action
There also exist alternative solutions to curb problems that affect sales of furniture at IKEA. First, this industry should concentrate on market share concentration that is evidently low due to fragmentation. This is evident when only top 10 retailers could only account for 14.2 percent of market share. This implies that IKEA as a furniture industry should concentrate in its business by expanding its stores, and increasing employment levels to attract more sales.
Availability of experienced workforce is another solution that will solve problems in this furniture industry. In this case, IKEA operators should be in a position to motivate its staff and ensure that they are capable of offering sound advice to their customers at the same time respond to their queries appropriately. The attractive presentation of product will also attract majority of customers and increase sales of furniture. In regard to this point, operators need to place clear strategies on how they can present their store layout in an attractive manner to attract customers. Furthermore, customers will be satisfied through display when they view the furniture arranged similar to a home environment to induce them to purchase. The other solution that can boost purchase of furniture is when operators upgrade to the latest trend of fashion and style. This implies that the IKEA should produce furniture that is favored by the current market to be in the same level with the changing preferences of customers.
To increase sales of furniture, suppliers should have a clear position of their market, which will assist them to portray a clear image of the company. This implies that for IKEA Company to increase its sales, potential clients require having details about the type of products, which the company offers, and their target market. It is also vital for a furniture industry to initiate brand names that customers can relate with to meet their expectations. This is because; majorities tend to buy items that they can familiarize with. Proximity to key markets will also solve the problem when stores are easily accessible; it maximizes exposure to prospective buyers. For instance, operators may locate their stores in areas with plenty of homeowners or where there is traffic for display (Schiff man 59).
Contrasting the alternative solutions, it is evident that all of them play a significant role of increasing sales in furniture industry. This is because the solutions rely on each other to determine the prosperity of a sales industry. For instance, despite proximity to key markets, there is need of experienced staff for efficient marketing of products.
Evaluation of Alternatives and Recommendation
From the case, the best
solution that suits IKEA is when its operators lay strategy to ensure that their
market positions are clear, and proximal to potential clients. I recommend this
action because; through it, operators will be working on portraying a clear
image of their company. By doing this, they will be marketing themselves by
creating awareness of their furniture to customers. This will also benefit IKEA
as a furniture industry because; they will be in a position to discover their
own target market. This is the most appropriate solution in that locating
stores to areas that are accessible by customers convince them to purchase the
furniture, and reduce on transport expenses.
Schiff man, Leon. Consumer Behavior, 10th ed. Upper Saddle River, NJ: Pretence Hall, 2010.
A Marketing Plan
A marketing plan is written to describe the position of the market of a firm, and the strategies the firm undertakes to market its products for the time that plan covers. The aim of developing a marketing plan is to show various steps that the management should take to achieve the marketing objectives of the firm (Johnson 12). My company has developed a hands free weeding tool for the garden. Since the product is new, many people are not aware of it. Therefore, I decided to come up with a marketing plan that will help the company meet its marketing objectives.
Market Growth Potential and Competitive Analysis
The hands free weeding tool has low demand in the market because many people are not aware of its existence. However, its market growth potential is high because of the fair price it is selling. The fair price will make it attractive to its users. Despite the small number of customers, the product will reveal its usefulness to the users in the future, with its fair price and the ease to use. The company expects high profits from the rise in demand of the product. We aim to be among the best suppliers of weeding tools in the region (Choffray, Jean and Gary 23). According to Fisher et al., competitive analysis is a critical part of the marketing plan. Therefore, we have developed a product that is worth competing with the other gardening tools from other companies. The product has unique features such as fuel free usage that makes it cheap to use.
We have approached our customers to help us to locate places where gardening takes place. The product has several uses depending on what is grown in a specific region. For example, it can be used for weeding, pruning as well as watering plants.
Target Market and Positioning
We target the gardeners and farmers in the region,
and we plan to extend the market to other regions in other countries through
advertising and promotions, to attract many customers. We have engaged in
market positioning to ensure effective communicate to customers, and getting
their feedback, which compels us to act. We engage in door-to-door marketing where
we interact with customers, and we have developed several brands of the product
to suit customers’ preferences.
Choffray, Jean-Marie, and Gary L. Lilien. Market Planning for New Industrial Products. New York: J. Wiley, 2008. Print.
Fisher, Patricia H, Marseille M. Pride, and Ellen G. Miller. Blueprint for Your Library Marketing Plan: A Guide to Help You Survive and Thrive. Chicago, Ill: American Library Association, 2006. Print.
Johnson, Winslow. Powerhouse Marketing Plans: 14 Outstanding Real-Life Plans and What You Can Learn from Them to Supercharge Your Own Campaigns. New York: AMACOM, 2004. Web.
Evaluation of Forever 21’s Marketing Strategy
Exceedingly competitive institutions, which are all competing for the customer loyalty, typify today’s market. Businesses encounter the challenge of sustaining their own competitive advantage and being competent to endure and be efficient. Plans are cautiously designed and carried out to attain the ultimate objective of all; business growth. Nevertheless, external aspects are not the solitary factors which determine expansion. Internal elements within the organization also shape the direction of the firm. The company’s promotion atmosphere affects the business directly. This comprises the dealers that transact explicitly or implicitly with the proprietors, the customers who order for the goods provided by the company, and other stakeholders who manipulate administrative actions or influenced by the resolutions made by the entity.
Intrinsically, the atmosphere of a specific business explains the relationship between entities and the motivating forces that regulate and influence their marketing productivity. This paper studies Forever 21’s competitors in the clothing industry. A substantial number of firms have grown into a fundamental part of the era of international competition, enhanced development, superior business models, and business restructuring. The ongoing conversion from the conventional industrial structure with its hierarchical firms to an international, knowledge-based marketing system and smart corporations demand business administration to realign and reposition its marketing strategies. Together with the rigorous marketing these days, businesses are confronted with the challenge to preserve their own competitive advantages to be able to endure and be flourishing. This paper examines Forever 21’s marketing strategy. The first section of the paper contains a brief literature review about the company’s marketing information, its marketing plan, and competitors. The second section contains proposals that Forever 21 can implement to improve its competitive edge over its global competitors. The third section contains recommendations and the best choice of the proposal to be adopted by the company.
Forever 21 is a Los Angeles-founded fashion retailer with revenues of over $3 billion annually from its 500 stores, with aspirations to open over 1,000 stores internationally. From its 450 United States store headquarters, the “discounted stylish teen retailer” is selling in Japan, South Korea, Canada, the Middle East, Europe, and China (Comunale, 2008). The company has declared plans to start in other European markets, for example, France, Germany, and Italy, as well as other global markets like Israel. The Korean-American Change family and debt-free privately own the firm with revenues spent into international extension. The firm receives strong competition from a range of apparel manufacturing firms. The firm has been swift to take advantage of the adversities of other competitors, occupying into premises abandoned by Dillard’s, Saks, Virgin Megastore, Mervyns, Circuit City, and HMV. Sites comprise Manhattan’s Fifth Avenue, Times Square, and London’s Oxford Street. Forever 21 represents continuously switching styles and reduced prices in the stylish fashion industry sweeping over other rival companies such as H&M and Zara. Fast stock turnover provides higher volumes covering for reduced margins. To keep costs low, Forever makes and develops most of its products internally. The fast-shifting collections endeavor to inculcate a “once it is gone, it is gone” attitude with teenage customers. While discounters give low-price value, Saks gives high fashion, and Zara offers range, Forever 21 endeavors to merge all those potentials in one brand.
The company developed out of the Korean-American environment in Los Angeles comprising apparel production, wholesaling, and retailing. Now, Forever 21 makes only 15 to 30 percent of its apparels in Los Angeles (those requiring a quick spin) and manufactures in China, Vietnam, Pakistan, and other nations. For many Forever 21 customers, being able to get low-priced copies of superstar apparels and runaway styles is a key attraction. Forever 21 draws some controversy since it has regularly been blamed of not only following fashions, but trading copies of attire fashioned by trendy. Forever’s ventures in information systems for financial 2011 extended to concentrate on their stores, supply chain, central business systems, and communications.
Forever 21 receives strong competition from a range of apparel manufacturing firms. H&M runs more than 650 stores in the United States. It manufactures both gents’ and ladies’ attire and add-ons. H&M has been closing and merging its stores for the past few years because of declining sales. H&M lately launched a huge flagship store in New York City which is the eleventh shop in the city so far and intends to establish more flagship shops (Walker, Curren, & Kiesler, 2013). This action from the Swedish-founded fashion retailer confirms their commitment to internationalization to make sure the firm continues developing in the United States market, but as well underscores H&M alertness of aggressive rivals in the industry, such as Forever 21 which launched its flagship XXI Forever shop in New York four years ago. Zara is another Forever 21 key business contender. Zara runs over 400 individual stores in the United States and Europe. It additionally wholesales its outfits via department stores, in addition to its own website. Another competitor, Virgin Megastore, runs over 500 stores under the Virgin brand name. It trades both brand name and company manufactured clothing and accessories. Its apparel is directed towards teenage women. The company also sells outfits through a number of websites. Forever 21 also contends against smaller, privately-owned designers, for instance, Azria, Circuit City, and BEBE (Walker et al., 2013).
One of the well-known reasons for such powerful competition between firms is the missing charge of changing firms. Shifting from a firm to another is as easy as walking into another store. Additionally, customers do not view high-end apparel products as an important product. Hence, when Forever 21 or a competitor increases prices, consumers will go search a more inexpensive alternative. Since consumers are regularly seeking the finest products at the cheapest prices, Forever 21 and its competitors are required to be exceedingly inventive in winning and retaining customers.
Forever 21 encounters considerable competition in the retail and clothing business. Forever 21 has contended with the long-established department stores, specialty shop retailers, cheap price point merchants, business to customer websites, off-price sellers and direct dealers for, among other things, production materials, market share, business space, finished products, sourcing and workers. Numerous firms provide similar outfits and supply to the same demographics as Forever 21. Some of these players have all been in the industry for approximately 3 decades, and each seize a considerable portion of the market share. The nature of Forever’s target market trend connotes that every year there are consumers outmatching the store and exiting the market and new consumers just moving into the market with no existing brand allegiance (Yu, Kim, & Kim, 2011). Competition between the company and its rivals for those new consumers is strong. To remain viable, Forever 21 applies reliable sales to present its consumers with the finest quality goods for the very low prices. Since a lot of these contenders are larger and have significantly larger financial, distribution and marketing supplies than Forever 21 does or sustain relatively reduced cost of operations, Forever 21 may lack the funds to contend with them sufficiently. If Forever 21 does not stay competitive by any means, it will hurt their selling, financial situation, and outcomes of operations.
The retail and clothing industries are extremely competitive and are typified by low difficulties to entry. The prime competitive aspects in the clothes markets are: brand name recognition, sourcing, product titling, quality, appearance, pricing, aptness of product development and delivery, store setting, consumer service and expediency. Forever 21 and its major contenders have all been in operation for a significant period. Attributable to this recognized credibility, there subsists relatively a bit of brand allegiance among customers (Holmes, 2010). A new firm would have to work against years of publicity advertising brand recognition to be capable to think getting competitive.
The success of the company’s business relies greatly on the capacity to recognize style trends and to respond to shifting consumer demand in an appropriate method. The clothing industry is a trade that contends on the ever shifting whims of the consumer. Accordingly, Forever 21 relies partially upon the customer reaction to the innovative efforts of their selling, style and marketing players and their aptitude to predict styles and fashions that will satisfy their customer base. If Forever 21 misjudges consumers’ product inclinations or the demand for their goods; they may be confronted with surplus stock. Previously, this kind of happening has resulted in surplus fabric for some outfits and reductions and write-offs, which has reduced the profitability (Holmes, 2010). Correspondingly, any malfunction on their part to predict, recognize, and act efficiently to shifting consumer preferences and fashion trends has negatively affected sales.
The company outsources all of their materials to firms internationally; concentrating on Asia because of the reality that labor there is reasonably priced. Outsourcing saves the company huge sums of capital on production expenditures. Because of the great amount of substitutes that give low charges, the dealers do not hold immense power. If an independent firm breaches labor or other related regulations is charged with breaking any such regulations, or if their labor performances deviate from those commonly acknowledged as ethical, it could hurt business and brand reputation. Although the company upholds a policy to check the operations of its independent contractors by establishing an independent firm to scrutinize these manufacturing locations, they cannot direct the actions or the public’s opinions of such contractors, nor can they guarantee that these contractors will perform their businesses applying ethical and lawful labor practices. Clothing companies, in some situations, may be held equally responsible for the illegal behaviors of the contractors for their products. Forever 21 does not direct its contractors’ employment provisions or business performances, and the contractors operate in their own interest.
Business Analysis : SWOT Analysis
Strengths: The Forever 21 stores commenced with a great advantage over its rivals’ as a brand that aimed at a very exclusive market with a stylish idea. This made the brand extend beyond and assisted in expansion into global territories.
Weaknesses: The same niche market is as well a limitation to the Forever 21 Company since it fails to draw anyone outside the target group with its promotion. The promotion itself, even though the company has used several superstars, goes unseen by anyone except their devoted customer base. The superstars that the firm has used as their brand emissaries are not too popular, which is unsuccessful in drawing in newer consumers or bettering brand reputation. The company needs a little additional market study to be capable to fix the promotion and fashion line setbacks. Additionally, Forever 21 stores are very difficult to navigate due to the numerous placed items in one place.
Opportunities: The brand can endeavor to open its doors to contain more novel markets. For instance, they can invest in the male market. Stores such as Zara have profited from that market while aiming consumers with similar attitudes. Another prospect for the Forever brand is to enlarge their globally accredited stores into developing countries such as Brazil and South Korea. These markets are developing and are expending enormous amounts of lately acquired riches. These markets are on the brink of key developing fashions.
Threats: The Forever stores require bearing in mind the diverse competitions that they have to distinguish themselves from. H&M (direct rival) and Zara (cheaper rival) are embracing a great deal of market share, which is a massive menace to the wellbeing of the company’s brand. With the economic downturn injuring the consumer’s expenditure power, the Forever 21 store brand is at a disadvantage (Tokatli, 2008).
Forever 21 is an American
clothing retailer that mostly targets women in their youthful stages. This
target market, which firm refers it as the “demographic that is neither too
young nor old,” proves very lucrative to the brand. They retail stirring
fashion that depicts these women as fashionable and sensual. They manufacture a
line of up to date fashion comprising clothing, add-ons, and shoes. Its unique
product offering encompass a full variety of disconnects, tops, dresses, and add-ons
in various lifestyle classes, which include profession, active, informal, and
Having launched their first store in Los Angeles; Forever 21 enjoyed immense success. This is demonstrated through the reality that the company is presently operating over 600 retail stores. They contain one online, which was launched in 2008. They also contain numerous internationally-accredited stores in use. The clients can find Forever 21 stores in public plazas, outlet plazas and in directories, which are accessible on request.
The Forever 21 brand is depicted through an uptight promotion; a visual promotion that comprises numerous different mediums, for example, prints, in-store, and express mail. For the picture, that they fancy for their brand, in terms of what their consumer would look like wearing their brand, they applied a very definite example. The Forever 21 woman would be delineated as someone who has a distinctive perspective; who is very confident, sexy, and trendy (Holmes, 2010). They fancy for their consumers to view themselves as positive women who are trendy, stylish, and like to have an exclusive manifestation of personal style. Forever brand as well has advertised through occasions. They hold yearly collection preview event that offers shoppers special first look at their latest lines.
The firm’s stores charge rates are set at a low level. Their products range anywhere from $15 to $250 according to their product prices on their official website. To keep costs low, Forever makes and develops most of its products internally. Only manufacturing operation is outsourced from external vendors.
Forever is dedicated to using technology to boost their competitive edge. Their information systems present information to the whole business to assist advance competence, visibility, and acceptable decision making. The main business systems, which comprise both procured and internally formulated software, are accessed all over the company network presenting workers with access to critical business functions. Forever’s ventures in information systems for financial 2011 extended to concentrate on their stores, supply chain, central business systems, and communications. They accomplished the establishment of a new point of sale system to all stores which has led to significant effectiveness developments for their stores and company offices (Scaraboto & Fischer, 2013). They as well finished perfections in product ordering and planning procedures by fully incorporating their supply chain system. In the financial year 2012, they continued to make enhancements to their POS system, enhancing their stock optimization ability across channels, and enhancing alliance capacities and incorporation with their international suppliers to deliver additional efficiencies to their supply chain.
The launching of Forever 21’s flagship store on London’s Oxford Street demonstrates that the firm is ready to take on some of the world’s leading companies in its bid for international command. The firm first established stores in the United Kingdom, the Philippines, and India in 2010, and is now projecting a European attack after establishing stores in Austria and Belgium in 2011. Prior to its European launch, Forever 21 was mainly founded in its home market, the United States, where it contends with the likes of H&M and Zara, with stores as well in Canada, South Korea, India, Japan, and the Philippines. In the United States, the company is one of the top clothing firms, with sales worth around $3.0 billion, but its powerful position in the United States market is not sufficient. In 2010, it established its first outlets in India, and the Philippines accompanied by the establishment of its first Austrian and Belgian retail outlets in 2011. The company has declared plans to start in other European markets, for example, France, Germany, and Italy, as well as other global markets like Israel. Forever21 is taking on international giants such as H&M and Gap, which would be prudent to observe Forever 21’s next steps intimately. The power of value and fast trend players in Europe has not blocked the company from following its gallant development plan of establishing over 100 stores in possibly the most concentrated attire market in Europe; the United Kingdom. It has an exceptionally difficult task of distinguishing itself from its United Kingdom competitors, many of which target the same demographic market.
The application of internet media by the company to create hype for the brand has turned up victorious. What would be the best thing to learn from this is to facilitate regular interests to sustain social network postings. Forever 21 pays considerably more concentration to store design and internal design than its United Kingdom rivals, with eccentric store aspects, for instance, outfit displayed on an artificial ice cream van. Such attention-grabbers may bear out productive in conquering the hearts of teens as they look for an entertaining shopping experience. The company’s store interior offers it a considerable advantage over its closest rivals in terms of price, which has a very simple and often disordered interior.
The company’s objective is to enlarge its scope of consumers by providing a broader selection of fashions, but for the company to access these other types of prospective consumers, they require to use social sites that will accomplish this objective. Competition between the company and its rivals for new consumers is strong. The company currently uses Facebook to provide clients with product information, product qualities, and benefits. From this synopsis of objectives for the company and its social media familiarity, Forever 21 can manage to use up as a minimum 6-8 hours each day on its effort. As for the company’s website, it is absolutely optimized, holding Facebook, Twitter, and YouTube buttons. The company uses Facebook as its main basis for the interaction with consumers purely because people can input and like the company’s updates (Pelton, 2013). The company as well has an amazing blog on their website displaying their YouTube account. They have very limited videos placed on their page leading to a big mistake on their side.
Forever 21 needs to better their already inventive and thrilling website by building an optimized video blog that will provide product data and imaginative ways to put on Forever 21’s clothes (Kim & Jones, 2009). They can as well employ a social bookmarking spot and make an app for shopping. If they enforced this tool, devoted consumers and prospective shoppers would be able to view what fashions are trending and what the company is involved in. For those customers that are faithful to the company, this might potentially be a massive merchandising spot. They could utilize their YouTube profile to display pictures from a video account to help the style disputed and post new merchandise the company trades electronically. Applying this strategy could boost the company sales significantly. Regarding the video account, the amount of views each video obtains within a month of its discharge will be a great determining factor. If there are over 6,000 watches, it should be regarded a success. The achievement of the itinerant shopping application should be ascertained on the number of procurements that take place during the initial five months of its functioning. Applying a social bookmarking spot will be the most complicated to establish achievement certainly, but not without a solution. If executed correctly, achievement can be assessed by the amount of watches the profile receives; once more 6,000 within the first 180 days should be the inspection number. Regardless of how big or small a novel strategic plan is, it requires time to execute. It will take very cautious planning, time, and resources; nothing can be achieved over night. After five months, Forever 21 can assess their merchandise and strategies to establish how they have been functioning and if modifications require being made.
Alternatively, Forever 21 only operates through its parent brands presenting them to numerous diverse stores. This is different from its main competitors such as H&M and Zara, which run across several brands across the price range, helping them to win a wider consumer base. Even though the United States-founded retailer presents a men’s clothing line, plentiful women’s wear lines, comprising a plus sized range and a girl’s collection, and footwear, add-ons and cosmetic items, all these categories operate under a single parent brand.
Hence, when it comes to development, Forever 21 can be restricted to the number of shops it opens since it only works under a single brand, whilst its rivals operates several. Even though Forever 21 initially penetrated Europe in 2009 by opening a shop in Ireland, the firm only has several stores opened presently and shows that the store ideas do not make the paramount utilization of the retail space present in Europe. For instance, one and half years after Forever 21 established its shop in Birmingham, the firm publicized that it was a sub-letting fraction of its retail space in the city’s well-known business mall, the Bullring. Forever 21 is competent to contend in the European market because of proved brand name, convincing in-store settings, and a broad variety of stylish product. Additionally, the direct touch altered the public’s misapprehension of the brand, Forever 21. Based on its name, it appears the brand only sells apparels for youthful ladies aged roughly 21. It is time for the company to embrace other brand lines such as jewelry, and cosmetics under different brands. Under the brand extension, Forever 21 should create new merchandise, comprising shoes, bags, intimate apparel, and cosmetics among others for all age groups to widen its target audience. Hence, Forever 21 will penetrate novel product categories dissimilar from that of the original brand. The extension of Forever 21 to add-ons, shoes, and bags can be referred to as category extension, and its extension for men and children can be viewed as a line extension. With these extensions, the company will reach out to a bigger prospective client base and be capable to suit their wide-ranging wants. The company should launch these new brands with huge opening ceremonies and offers on their various stores all over the world. The launching ceremonies will have a direct and powerful impact on the public and will assist increase new awareness towards the new brands (Kim, Choo, & Yoon, 2013).
Back in the developed world, nevertheless, business matters most, discussion less, and association least. Customers feel drawn in into this occasion and cherished by the brand service. Customers are more attracted by the flagships stores and the merchandise of the brand more than the cheap prices (Jones & Kim, 2010). On the basis of this association, discussion between the brand and consumers and amongst the consumers will eventually lead to benefit in operations.
The firm has made an implausible reputation over the previous decades in the apparel industry. The company is always adjusting to maintain the ever shifting styles in the trend world. Because the company is established on the maxim of remaining modern and stylish, by adding to their existing social media they will be capable to get to a bigger group of prospective consumers who are in social media, in addition to keeping their existing brand lovers informed on their newest fashions. Therefore, proposal 1 is the most excellent option for this company. Forever 21 targets young women and men rating from 13 to 30 years that are attempting to keep abreast with the newest fashions at a startlingly levelheaded price (Holmes, 2010). Even if teenagers are the main target group of the company, numerous different people from various diverse backgrounds and age groups should be persuaded to buy at the company’s stores purely because it provides almost anything one wants at the cheapest price for its quality.
As acknowledged earlier, Forever 21 constantly craves to be on the fore front and the only better way to be at the top and accommodate consumers of all age groups is to maintain all forms of social media. It is extremely imperative for a firm in the ever shifting apparel world to keep the fashion conscious fans enriched with the information they desire. This is why constancy and reliability with all of the company’s social advertising practices are critical in Forever 21’s achievement. This sales proposal is efficient since it not only presents the company time and space but also gives value. The updates posted on the company’s website can be interactive and hence draw more awareness from audiences of various demographics (Grandhi, Singh, & Patwa, 2012). The achievement of this plan as well relies on the proposed demographic response to the posts. Forever 21 and social media have comparable audiences, both sharing a large female subgroup, which provides momentum to the accessibility of the posts. The company uses Facebook as its main basis for the interaction with consumers purely because people can input and like the company’s updates. Forever 21 should use YouTube to allow consumers express their experiences on their products by word of mouth because verbal communication is the most influential form of promotion. This prospective outcome will confirm that social media sales produce a reciprocally beneficial association that has more than money value.
Businesses encounter the challenge of sustaining their own competitive advantage and being competent to endure and be efficient. The atmosphere of a specific business today explains the relationship between entities and the motivating forces that regulate and influence their marketing productivity. Forever 21 faces strong competition from a range of apparel manufacturing firms. To remain competitive, Forever 21 applies reliable sales to present its consumers with the finest quality goods for the very low prices (Divita & Yoo, 2013). The company targets young women and men rating from 13 to 30 years that are attempting to keep abreast with the newest fashions at a startlingly levelheaded price. The success of the company’s business relies greatly on the capacity to recognize style trends and to respond to shifting consumer demand in an appropriate method. If Forever 21 does not stay competitive by any means, it will hurt their selling, financial situation, and outcomes of operations. To handle this challenge, the company has declared plans to expand its operations in regions all over the world. The company has to enlarge its scope of consumers by providing a broader selection of fashions, but for the company to access these other types of prospective consumers; they require using social sites that will accomplish this objective. The two proposals recorded above may augment the company’s sales and revenues if implemented.
Comunale, A. (2008). You Are Who You Wear: A Conceptual Study of the Fashion Branding Practices of H&M, Forever 21, and Urban Outfitters. Journal of the Re-tail Image, 1, 1-12.
Divita, L. R., & Yoo, J. J. (2013). Examining global retailing’s innovators: An overview of fast fashion supply chain research. Fast Fashion Systems: Theories and Applications, 2(3), 23-45.
Grandhi, B., Singh, J., & Patwa, N. (2012). Navigating retail brands for staying alive. EuroMed Journal of Business, 7(1), 66-82.
Holmes, E. (2010). Forever 21 pursues big-store branding. The Wall Street Journal, 1,12-25.
Jones, C., & Kim, S. (2010). Influences of retail brand trust, off‐line patronage, clothing involvement and website quality on online apparel shopping intention. International Journal of Consumer Studies, 34(6), 627-637.
Kim, H., Choo, H. J., & Yoon, N. (2013). The motivational drivers of fast fashion avoidance. Journal of Fashion Marketing and Management, 17(2), 243-260.
Kim, S., & Jones, C. (2009). Online shopping and moderating role of offline brand trust. Direct Marketing: An International Journal, 3(4), 282-300.
Pelton, L. E. (2013). Critical social theory and the emancipation of marketing channels knowledge. Journal of Marketing Channels, 20(3-4), 204-223.
Scaraboto, D., & Fischer, E. (2013). Frustrated fatshionistas: an institutional theory perspective on consumer quests for greater choice in mainstream markets. Journal of Consumer Research, 39(6), 1234-1257.
Tokatli, N. (2008). Global sourcing: insights from the global clothing industry—the case of Zara, a fast fashion retailer. Journal of Economic Geography, 8(1), 21-38.
Walker, K. L., Curren, M. T., & Kiesler, T. (2013). A Retail Center Facing Change: Using Data to Determine Marketing Strategy. Marketing Education Review, 23(3), 287-296.
Yu, H., Kim, Y., & Kim, H. (2011). Dynamics of Apparel Retailing in South Korea Accompanied by Increased Market Openess. International Journal of Management Cases, 13(3), 448-459.
The process of advancing in a chosen career path requires an individual to engage in an analysis of the factors that contribute to his success, the weaknesses, the potential threats, and the opportunities available. Through such deliberations, it becomes easier to identify outstanding individual attributes and assess how these attributes can be used in making decisions on the best professional field that would necessitate job satisfaction. The success of this process will play a role in the determination of the techniques that an individual can employ to ensure he remains competitive and relevant in the job market. This marketing plan will conduct a situation analysis with the objective of identifying my areas of strength. This process will be followed by the identification of my weaknesses and how my strengths can be essential in eliminating threats and identifying potential opportunities in my chosen career path. The marketing plan will assess my attributes using the 4Ps of marketing mix with the objective of asserting my position in terms of my ability to secure an employment opportunity in Apple Inc as a Finance Advisor.
Significant life events
When I look back at my life, there are numerous events which contributed to changes in my life. My first time to perform on stage as a member of a band, my best grade in college and deciding to work as a freelancer to earn money. These events were significant in my life because they helped in molding my personality and attributes that were essential for progress in life. One single attribute that these events have in common is that they were all moments in which I stretched myself to my limits. They were situations when I was not aware of the impending consequences but with dedication and resilience, I decided to experience them. The experiences were not comfortable but I realized that I had the responsbility of fighting for my goals and be stronger especially when faced with challenges. These were also instances when I got out of my comfort zone because I was delivering myself to the unknown. I do not regret any of them because I learnt to embrace and overcome my vulnerability.
I trained for and finally completed the annual college marathon. My objective was to test and improve my sporting abilities. The difficulties included strict adherence to the training schedule. To overcome these challenges, I demonstrated resilience, courage, and determination in the training and the marathon
I gave a presentation in the form of a talk during the Annual Science Congress and overcome my public speaking worries. The objective was to deliver a talk on the essence of science in the contemporary society. The challenges included developing the courage to presents the talk. I demonstrated the qualities of risk taking, dedication, and courage.
I organized a fundraiser to help Red Cross raise money for the vulnerable in the society. The objective of the event was to help alleviate the suffering of vulnerable members of the society. The challenge was convincing other students to contribute to the process. I demonstrated high-level integrity and dedication as a leader to convince other members of the college to contribute.
My biggest disappointment is that I was not able to follow my dream of being a professional dancer while in college. Before college, I was an active dancer and I used dancing as my platform for body exercise to improve on my flexibility and engage in meditation initiatives. However, during the auditions in college, I was injured and since then I have not been able to move fluidly. Inasmuch as I was disappointed at that time, I realize today that if I had taken that direction of professional development I would not have advanced in the accounting and financial field which I also love.
Interests I care about the most
Interests I care about the least
|Creative||Assertive||Objective||Organized||Strong work ethic|
Negative personal attributes (too emotional)
Insufficient professional work experience
Weak leadership skills
Relatively weak technical knowledge
Positive trends in the field of accounting and finance that will result in the creation of more jobs are technological advances and globalization
There are opportunities in the finance market that I could have by advancing my education
The accounting and finance market is in need of my skills.
The finance and accounting career path provides unique opportunities
Availability of a strong network in the accounts and finance career paths
Negative trends that could contribute to diminishing of employment opportunities include obsolesce and downsizing
Competition from college students in my chosen career path
Competitors with advanced skills, knowledge, and experience
Competitors with degrees from universities and colleges with better reputation
Lack of training and education opportunities to advance my career is possible obstacles
My success in my chosen career path will be dependent on my ability to embrace my strengths such as resilience, innovativeness, strong work ethics, and creativity in the identification of available opportunities for professional development in the employment filed. This is because trends such as globalization and economic growth will require individuals to upgrade their skills and competencies as a way of enhancing their competiveness. Furthermore, the threats of downsizing and competition from individuals within my career path with better skills and years of experience can only be overcome through the identification of an employer that recognizes my skills and provides opportunities for advancement.
Preferred job position: Account manager
Industry: telecommunication and technology
Country: United States of America
Name of the industry: apple company Inc
Job title: Account Manager
- Management and oversight of the of daily operation of the accounting department
- Monitoring and analysis of accounting data and the production of financial statement or reports
- Establishment and enforcement of proper accounting methodologies, policies, and principles
- Reporting to the management of the organization on the financial progress of the company in terms of the strengths and opportunities, weaknesses and threats that exist within the industry
- Operate as the lead point of entrance for matter related customer financial concerns
- Oversight of customer account management through negotiation of contracts and development of agreements with the objective of profit maximization for the company
- Help the organization in the building and development of lasting relationships with different stakeholders
As an account manager at Apple Inc, I would like to be successful in the supervisor, tracking and evaluation of daily activities of the accounts department. This will be through the development of an effective approach of assessing the operations of the department and its contribution to the overall organization. Additional accomplishments would include the establishment of a financial status through the development and implementation of systems for the analysis, verification and reporting of finance and account related information. I will be able to improve on the quality of teamwork in the accounts department. Through teamwork, it will be possible to develop an organization in which the staff is cooperative in their desire to realize departmental and organizational success. Improving on the reputation of the company as an innovative and trustworthy brand will be part of my targeted areas of achievement.
My career objective is to work in a company that recognizes my skills, provides opportunities for career advancement to ensure that I am regarded as a valuable asset to the organization. Upon completion of my college education, I would like to work, at an entry level, as a Finance Advisor in companies in the technology and telecommunication, financial and business consulting industries. These industries are preferable because they are defined by constant evolution and ability to adapt to the dynamic innovations that characterize the market. This makes them flexible and filled with opportunities for career advancement. The technology and telecommunication industry is the most attractive industry because is in an industry that integrates itself in every other business in the market. This industry provides essential technological apparatus that are used in advancing business operationalization in the market.
|Apple Inc.||Microsoft Corporation||Samsung Company|
|Address||Infinite Loop, Cupertino, California||Microsoft’s main campus in Redmond, Washington||
105 Challenger Rd.
Ridgefield Park, NJ 07660-05111
Apple Inc is the best company in which I can work as a Finance Advisor at an entry level. This is because; the company builds its reputation as one of the most successful companies since it respects and values of its employees in its success. Apple Company provides a competitive environment for promotions and career advancement. This means that while at Apple I will be able to engage in activities such as professional development trainings and delegation of responsbility, which will be essential in the development of my professional competence. While at Apple I will ensue, I deliver my work in the most professional way as a technique of making a statement of my worth and value as an employee of the company. Through networking and interpersonal communication, I hope to advance through the company.
In terms of geographical location, I would like to work in the United States because of the availability of opportunities and the competitive nature of the work environment. In addition, Apple Company also offers just wages and salaries to its employees while facilitating an effective work-life balance program to protect the interests of its employees while executing their organizational responsibilities.
“To Apple Inc and for the position of Finance Advisor, I offer analytical, innovative, assertive, objective, resilience which will help Apple Inc in achieving its goal of being the most innovative and successful company on the global market.
I believe I am an analytical person because of my ability to engage in effective and logical activities especially when seeking solutions to problems. Through my analytical skills, I often seek to address problem based on their root cause, assess the possible alternative and rationally arrive at a conclusion based on consultations with other analytical thinkers. This is an essential skill for a Finance Advisor because I will use it to help the company in deliberating over its financial problems and in developing workable solutions
My innovative skill is effective because it enhances my ability to be creative in addressing different issues. Through innovation, it becomes easier to develop novel solutions to problems and identify new approaches of executing responsbility hence improving on effectiveness and efficiency of an organization
My assertiveness implies that I am confident when addressing any issue. Through confidence, it becomes easier to take risks while assessing the possible consequences that such an initiative may generate. My assertiveness also enhances my ability to make objective decisions based on facts when faced with a problem.
Integrity implies that I am honest in my dealings. Through this attribute, it becomes possible for the organization to develop some level of trust considering that as a Finance Advisor my role will be to ensure that I provide the company with information on how to invest its financial resources. I believe I am a man of integrity because in different stages in my college life I was trusted with the responsbility of helping organizations such as Red Cross organize fundraisers to execute their duty to the society.
I believe I am a resilient person. This is because of my level of dedication towards the realization of my goals and objectives. Throughout college, I was able to achieve high scores in my academic work, despite the financial challenges that I faced. Resilience has also taught me to be a flexible person especially regarding my ability to try new things. While in college, I overcame my fear of public speaking by presenting a talk during the annual science congress. This indicates that I was flexible enough to accept the challenge.
As a product, I will prove myself as a valuable asset to the organization by providing maximum benefits in terms of input than any other potential employee.
As a product, I am positioning myself based on:
Skills: High analytical skill in analyzing and understanding financial matters. These make me a core product entering the market.
Image: The image of the company on the market presents a platform for professional growth and establishment
Areas of improvement
I need to advance my qualification in finance and accounting by seeking MBA in a reputable university to improve on my competitiveness.
I need additional employment experience to improve on my skills capacity. I will seek an internship opportunity in one of the companies in the business consulting, accounts or telecommunication
To improve on my communication skills, I will be engaged in consultative and peer group forums with the objective of developing techniques of communication with individuals from diverse cultural backgrounds. To improve on my relevance in the market I will enroll for short course on financial management as a technique of ensuring that my skills and knowledge in my career path are relevant and updated.
My target employer is Apple Inc. I intend to make contact with the company officials through networking and reply on ads. These are the most effective techniques of contacting the employer because through networking it will be possible to engage the employer in an exercise aimed at understanding the operations. At the same time, the networking initiative will also enhance the possibility of the employer developing interest in my skills. Reply on ads will be an effective way of making contact because I will be identifying the available employment opportunities and applying for those that I consider myself most qualified.
Name: Denise Young Smith
Address: Infinite Loop, Cupertino, California
Phone number: 1–800–800–2775
Other useful people
Name: Robert Iger
Location: The Walt Disney Company
Name: James Bell
Location: The Boeing Company
In 2015 the average annual salary for a Finance Advisor was $89,000, with the lowest earning approximately $39,000 while the highest paid Finance Advisor earned an annual salary of $187,000 (http://money.usnews.com/careers/best-jobs/financial-advisor/salary)
. On top of the salaries, Finance Advisors also earn bonuses in the form of benefits. At an entry level in Apple Inc, I believe a fair staring salary will be $50,000 per year. This because of the innovative and exemplary ability to analyze, understand and interpret financial data. Through such analysis, I have the ability of making market predictions and advise the company on the best path to take when investing its financial resources. Furthermore, my enthusiasm in undertaking responsibilities in the financial department is an indication of efficiency and effectiveness in service delivery.
My action plan in relation to promoting myself will be through communications designed for the target market. These will be my resume, resume cover letter, an approach letter for informational meeting, and a thank you note for the informational meeting. These communications will be representing me whenever Apple desires to recruit a new employee in the accounts and financial departments. Their repsrestnational role will be aided by the understanding that they possess information about my academic competences and personal attributes that I consider desirable for the sauces of the company. Apple is considered as one of the companies that give potential employees equal opportunities based on their qualifications and their possible contributions to the success of the company. The information contained in the four communications will serve the purpose of informing and reminding Apple of my capabilities.
|Organization identification||Identify top 3 prospective industries as potential employers||Completed|
|Draft an approach letter for information meeting||Draft a letter to James Bell, CEO The Boeing Company||Completed|
|Resume and cover letter dropping to prospective employer||Develop a detailed resume||Completed|
|Send the resume and cover letter to Apple||June 25, 2017|
|Follow up on the progress of communications dropped||Sending emails to the Human Resource Department at Apple on the status of my application Call Mr. James Bell on the possibility of meeting||June 30, 2017|
|Training for interviews and tests||Engage in research activities on how to answer interview questions Read on interview preparation||On progress|
|Getting myself acquainted with the organization||Reading information about Apple inc||On progress|
|Networking and social outings with referral sources||Engaging in networking activities to meet professionals in the finance field||0n progress|
|Track progress of communications dropped||Sending emails to Apple on the status of my application||July 4, 2017|
|Drafting Mr. Bell, a thank you note||July 5, 2017|
Appendix A: Resume
Physical Address | Date of Birth | Cellphone | Email
To exercise my responsibilities as a creative, enthusiastic, analytical, and service oriented finance advisor by engaging in the use of quality financial management skills in realizing the highest level of organizational and personal progress
Skills and qualifications
- Excellent skills and knowledge in financial management
- Proven skills essential in helping in emergency financial situations
- Excellent skills in customer management
- Over 2 year’s progressive experience in financial management
- Ability to work in different environments with limited or no supervision
- Ability to work effectively as a team members
- Excellent communication skills characterized by the ability to communicate with people from different cultural backgrounds
- Dependable and responsible
- Ability to embrace customer-focused approach in service delivery
- Engaged in the organization of a fundraiser for Red Cross in college
- Coordinated service arrangements in the organization of the Annual Science Congress in college
Intern | Pollo Tropical | 2015
- Oversee daily operations of the restaurant
- Handle customer complaints
- Count inventory and replenish stock
- Report to executive management on organizational progress
- Develop financial reports
Name of college, Physical address, and Academic qualification
Appendix B: Resume Cover Letter
Mr. Surname and Name
Human Resource Manager
Str. Area Code
Following the publication of your Ad in “The New York Times,” dated June 10, 2017. I am applying for the position of Finance Advisor. This position seeks to address the challenges that my academic experience has prepared me to handle on professional grounds.
I hold a bachelor Degree in Finance from American University of Beirut. I earned my degree in April 2017 and currently seeking an employment opportunity with your reputable company that meets my expectations and qualifications.
As a student at American University of Beirut, I was an active participant in several projects. In addition, I was an active member in the Science and Education society and I was actively involved in social events that were organized by the society.
I am a man of high integrity with excellent communication and analytical skills. Furthermore, my strong academic background on financial issues will put me in the right direction in improving the financial reputation of the organization. I am fluent in English and Arabic and I am a good in developing reports.
Finally, please contact me at any time for any details on your job requirements and my qualifications. In this connection, I have attached my resume for your scrutiny. Below is my email, contact address and cellphone number in case you are interested in my profile.
I am looking forward to hearing from you. Thank you
Surname and Name
Appendix C: Approach Letter for Informational Meeting
Mr. James Bell, CEO
The Boeing Company
Dear Mr. Bell,
I am writing to you because you know the essence of having an analytical, passionate, highly motivated, and knowledgeable finance advisor in an organization. I have this information because I have been impressed by details in your annual report.
I am seeking your counsel on how I might prepare for a finance advisor opportunity at Apple Inc because I am hoping to land an interview opportunity with the company. My demonstrated skills on financial management and budget development have prepared my forth position of a finance advisor. I am seeking this position with the intention of eventually moving into an account manger’s position.
As I begin my new opportunity search, I am gathering as much information as possible before the interview. Could you spare a few minutes of your time next week to discuss my career plans and objectives? Perhaps you can provide suggestions on how I can improve my resume and an insight of other companies that might be interested in my qualifications. I will call you on Tuesday to see the possibilities of arranging such a meeting
I look forward to meeting you. Thank you
Appendix D: Thank-You Note after Informational Meeting
Your City, State, Zip Code
Your Phone Number
Mr. James Bell, CEO
The Boeing Company
Dear Mr. Bell:
I appreciate you finding time to speak with me today. Your thoughts were of great help and have confirmed my decision to gain additional work experience in the field even after applying for a Finance Advisor job at Apple Inc.
I will be involved in regular checking of the websites you suggested for employment leads, and I am in the process of contacting the professional association you suggested regarding membership.
I will keep updating you in the near future on my progress.
Thank you for your assistance.
Appendix E: “Tell Me About Yourself” Statement
I am an innovative and self-motivated individual with 4 years of experience in managing financial issues on different platforms while in college. These include organizing a fundraiser for Red Cross, helping the Science and Eductaion Society plan for the Annual Science Congress. Through my academic work, I have spent the last four years developing my skills in financial management where I have been successful as demonstrated in my grades. I love managing finances and solving financial related problems. I am an individual who thrives in fast-paced environment and this explains why tight now I am seeking opportunities for the application of my expertise and creative problem-solving skills at an innovative telecommunication and technological company like Apple Inc. Through my years of experience, I feel I am now ready for more challenging experiences and the position of a Finance Advisor really excites me.
Appendix F: Information Sources
Barker, A. (2006). Improve your communication skills. London: Kogan Page.
Brine, A. (2005). Continuing professional development: A guide for information professionals.
Gold, M. (2011). Fiduciary Finance: Investment Funds and the Crisis in Financial Markets.
Cheltenham: Edward Elgar Pub.
Financial Advisor: Salary Details
Mosley, R. (2014). Employer brand management: Practical lessons from the world’s leading
employers. Oxford: Oxford University Press
Marketing Research Proposal Assignment Paper on Proposal-Online Marketing of Iron and Steel by Lisco Company
Proposal-Online Marketing of Iron and Steel by Lisco Company
I am a management and marketing major where I am taking masters in the latter discipline. I want to point out that Libyan Iron and Steel Company (Lisco) would benefit greatly from its products if expands its online marketing. Marketing online create an avenue for the company to expand its territories and have a larger segment in the market. Therefore, the project is worthy investment because the apparent changes in technology have made marketing much easier (Ba, Whinston, and Zhang 67). Among the notable impacts of technology are the way marketing can be enhanced and the way certain information can reach customer within short durations of time.
Lisco is among the largest steel and iron making companies that operate in North Africa. The company is based in Misrata (Elasfer, and Karami 58). More so, the government of Libya owns it. Therefore, most of its subsidies come from the government. The company’s foundation stone was laid officially in 1979 and was ranked third among the largest producers of steel and iron in Arab countries in 2004. In addition, the company has production capacity of about 1324000 tons of steel that is liquefied. It operations are supplied by iron ore imported from Sweden, Canada and Brazil which is used as raw material (Ellid, and Fallagh 34).
Furthermore, the company’s gas is utilized to produce hot briquetted iron and sponge iron. Approximately 54 percent of the company’s export is HBI. The rods and bars shipped to Tunisia and Egypt amounts to around 23 percent of the exports of the country (Hast 45). The company also has its own port that has specialized facilities. The rebar produced in the country is sold locally and the domestic industry consumes approximately 25 percent of the steel products of the company. The company exports more that 60 percent of its products with most of the steel products being exported to Spain and Italy (Pan, Ratchford, and Shankar 14).
Therefore, by integrating online marketing, Lisco Company will attract more investors and customer to the company. This will enable the company stand a better chance of competing with other companies that have developed globally. Other companies in the field of steel and iron have taken into international marketing. Apparently, the world is becoming global and companies need to strategize and integrate online marketing in their normal management and marketing (Jannat, and Abdulmalek 90). The online marketing will enable the company benefit maximally from the world, which is adversely changing in terms of technology. Moreover, online marketing will enable the company interact with its members and clients.
Nevertheless, online marketing is cheaper compared to any other form of marketing. This is because it will enable customers understanding the different products being offered by the company (Kollock 12). There is also a need for the company’s management to develop skills and qualities that assist them focus their attention in its core competencies, daily operations and towards the ramification of its marketing decisions. Online marketing will therefore, enable the management get some skills and qualities such as full comprehension of its market, the different brands of iron and steel offered in the market, how different products are being marketed, different pricing methodologies of its products, and the risk mitigation and cost saving involved in marketing its products (Mich, Franch, and Inverardi 65). Other inside skills and qualities could be correlation of sustainability to management and marketing, significance of projects management, development, and innovation of newer marketing models.
Management also need outside skills such as understanding of policy drivers and their impact to market demand, main changes that shape the global market place, the comprehension of multi-cultural perspectives, innovation of sustainability financial reporting, improved communication, and listening skills with stakeholders and customers (Regev, and Nisan 45-54).
Nevertheless, some skills traverse both inside and outside boundaries. Such skills include greater understanding of the complexity of organizations, systems thinking, negotiation skills used within different project teams, improved interpersonal skills, and external business stakeholders or partners (Regev, and Nisan 69). Online marketing will therefore, make the company grow immensely.
Ba, Sulin, Andrew B. Whinston, and Han Zhang. “Building trust in online auction markets through an economic incentive mechanism.” Decision Support Systems (2003): n. pag. Print.
Elasfer, Elhusein H., and Azhdar Karami. “The Effectiveness of Selected Human Resources Management Practices on Organisational Performance and Objectives (A Case Study of the Libyan Iron and Steel Company).” (0): Print.
Ellid, M. S., and F. Fallagh. “Mössbauer studies of iron ore from East Awinat mountains in Libya.” Hyperfine Interactions (1994): n. pag. Print.
Ellid, M. S., and F. Fallagh. “Mössbauer studies of iron ore from East Awinat mountains in Libya.” Hyperfine Interactions (1994): n. pag. Print.
Hast, Adele. International Directory of Company Histories: Volume 4. Chicago: St. James Press, 2007. Print.
Jannat, M. B., and J. S. Abdulmalek. “Reducing the effects of harmonics produced by electrical arc furnaces in Misurata steel plant.” (2012): Print.
Kollock, P. “The production of trust in online markets.” (1999): Print.
Mich, Luisa, Mariangela Franch, and Pierluigi N. Inverardi. “Market research for requirements analysis using linguistic tools.” Requirements Engineering (2004): n. pag. Print.
Pan, Xing, Brian T. Ratchford, and Venkatesh Shankar. “Can price dispersion in online markets be explained by differences in e-tailer service quality?” Journal of The Academy of Marketing Science (2002): n. pag. Print.
Regev, Ori, and Noam Nisan. “The POPCORN market—an online market for computational resources.” (1998): Print.
Customer Service and Marketing in my Work Place
The concept of public satisfaction is measured and analyzed in my workplace. Managers divert resources towards creating proper public relations and improving satisfaction. It has been a common practice in my agency for the management to evaluate the efficiency and quality of products and services. Remarkably, public satisfaction is a process that integrates three issues namely, pre-purchase behavior, purchase and post purchase behavior. Each of these stages is equally essential for meeting the customer expectations of the customer concerning a product or service (Soosay et al., 2006).
The level of public satisfaction is measured in different ways. One of the effective methods embraced is the statistical number of customers served daily. Such data is obtained from in attendance lists, job manuals, registration forms, payment sheets among others. The higher the number of customers served, the higher the level of products or services rendered and hence satisfaction. The other issue captured in my organization for measuring satisfaction is the clear definition of our products with our customers in mind (Soosay et al., 2006).
. This helps to single out those drivers or motivators that keep customers loyal to our products. Managers therefore reexamine these products and undertake customer review to suit their expectations. According to Soosay et al. (2006), the overall aim is to identify the best products that will easily gain acceptance from the public. Generally, measurement of public satisfaction improves delivery of services and helps to identify changes in public consumption patterns.
On the other hand, my organization is improving customer service and satisfaction in three ways. Customers are being provided with free training demonstrations on the use and maintenance of products. This has improved product loyalty. Similarly, customers are given product warranties and after sales services. This includes transportation to their premises, advice and installation. Lastly, significant bonuses are provided on goods purchased to influence the purchase decisions of the buyers (Soosay et al., 2006).
Soosay, C., Hyland, P., Central Queensland University, & Australian and New Zealand Academy of Management (2006). Strategies for maintaining customer satisfaction in logistics: Cases from distribution centres. (4th ANZAM Operations Management Symposium: operations, strategy, systems and network, 301-313.