...Martha and the Trap-Ease America investors believe they face a once-in-a-lifetime opportunity.What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? how would you write it? A 1. I think they believe that they have a one-in-a-lifetime opportunity because Trap-Ease is an new and innovative idea for a mouse trap so it can be potential for the company’s growth and profit but in order to fully take advantage of this opportunity Trap-Ease America will have to first find out the actual needs and wants of their potential costumers which i think should not be limited to only women, they need to find out if the customers actually need a product with these many additional features because the customers might wish or even want such a hygienic and safe approach for a mouse trap but might not be willing to pay the extra cost that comes with it. Trap-ease America also needs to determine the products strength, weakness, opportunities and threats to further analyze and decide how they want to sell the product and use this opportunity to its fullest. I think that the mission statement should be written in a such a way where it describes how this mouse trap is something different and innovative compared to its traditional counter parts because i think if the difference is clearly mentioned in the mission statement than it would definitely catch the interest of the customer when they are deciding on which mouse trap to buy. i think...
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...ASSIGNMENT – CASE STUDY ADVANCED CERTIFICATE IN MANAGEMENT BUSINESS STUDIES A group of investors had formed Trap-Ease America after it had obtained worldwide rights to market the innovative mouse traps. The group had hired Martha to serve as president and to develop and manage the Trap-Ease America organization. Martha had initially forecasted Trap-Ease’s first year sales at five million units. Martha knew that the investor group believed that Trap-Ease America had a ’once in a life time chance’ with its innovative mousetrap. To evaluate this opportunity Martha must collect information from different angles. She must choose a best target market for the Trap-Ease. 1. As Martha and Trap-Ease America feel that they face once in a life time opportunity after obtaining worldwide rights to market the mousetrap. Martha had forecasted Trap-Ease’s first year sales at five million units. As she sensed that group’s impatient with the progress of company so far. So she budgeted approximately $250,000 in administrative cost and fixed costs for the first year, but this did not include marketing cost. To evaluate this opportunity Martha must evaluate write market for mouse traps. Market can be divided into different groups of buyers with different needs; buyers desire different benefits from one product. Consumers needs and wants change with their age. As Martha wondered, apart from trapping mouse using mouse traps consumers may also buy the trap as novelties. Company needed to sell...
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...Company Case: Trap-Ease America Answer 1: Martha and the investors believed that the product they had was of excellent quality and it should be readily bought in the market. However there seems to be no evidence whatsoever to whether the investors had thought anything out about neither the marketing strategy they would follow nor the fulfilling of the customers’ needs and wants. Not even was there any effort seen to research out information about the market or the needs of the potential consumers. Many organizations develop formal mission statements. A mission statement is a statement of the organizations purpose- what it wants to accomplish in the larger environment. Some companies define their mission myopically in product or technology terms. But I think the group’s mission statement should be market oriented and defined in terms of satisfying basic customer needs. Answer 2: The best target market mean a set of buyers sharing common needs or characteristics that the company decides to serve since it’ll give maximum profit. The case study tells us that Trap Ease is targeting housewives since they are reluctant to set and bait traditional spring loads. As they are concerned about the health and safety of the children, and cleanliness of their homes Trap Ease would be a better product to use. There are other markets the company could possibly target. Segmenting the market we can find any business that handles food storage or production using Trap Ease for their benefit...
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... 2014 Trap Ease America 1. Has Martha identified the best target market for Trap ease? What other market segment might the firm target? a. Martha particularly target women, because she feels that women do not like to clean the mess or have the risks of traditional mouse traps. I feel this is a good place to start but there are many improvements Martha needs to make. For example she should have put women in different groups (i.e. ones who stay home, ones who work, single women etc.). Women who stay at home is shrinking as they are becoming independent professionals. So by targeting women who stay home she is in fact targeting a shrinking market. b. There are many market segments that Martha missed when looking at target markets. Some market segments she missed are markets like, families in a larger sense, animal lovers or even environmentalists. I read that the Trap- Ease mouse trap is re-suable which makes it very environmentally friendly. The animal lovers would greatly love the trap because it does not require poisoning the mouse or snapping closed on another animals paw. This would also be very great for families’ because mothers and father would be happier to get poisons out of the house and also eliminate the possibility of their child snapping a finger or toe in the trap. 2. How has the company positioned the Trap Ease for the chosen target market? Could it position the product in other ways? c. While reading over the case study it seemed...
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...Assignment 1) | Walmart | Target | Profit margin | 3.51% | 4.19% | Net marketing contribution | 47,874,2505$ | 11,091,000$ | Marketing Ros | 10.71% | 15.87% | Marketing Roi | 74.86% | 101.62% | Based on the following figures, it is clear that Target is performing better. Although Walmart has a higher sales revenue gross and net profit, it is clear from the figures that Target has a higher profit margin. It is evident that the COGS at Walmart are slightly higher than all other companies competing in the market. Since Target has a higher ROS and a higher ROI we can say that Target is growing more than Walmart. 2) | Apple | HP | Profit margin | 22.85% | 4.41% | Net marketing contribution | 82,879,250$ | 14,550,000$ | Marketing Ros | 35.46% | 14.08% | Marketing Roi | 771.2% | 142.52% | Marketing expense apple: 10,746,750$ Marketing expense HP: 10,209,000$ * All figures are based on the income statements for the year ending 2015. From the figures above we can conclude that Apple is making much more profit than HP since its sales revenue are much higher, although both have close marketing expenses. Company Case 1) In order for Marta and Trap Ease America to assess their golden opportunity they should study the market carefully and see whether there exists another product that is launched in the market to fight mice or will they be the first company. If Marta’s product is going to be the first product in this market they are expecting a...
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...Trap-Ease Case Study. 1. Once in a lifetime opportunity. Need to know the range of mouse trap offerings. Need to know the level of marketplace acceptance, or not, of the various offerings. Need to identify the need of consumers that this product would meet in contrast to other offerings that did not meet the perceved need. "Why this particular conformation of a mousetrap?" They needed to know that the product was the answer to a cry coming from the marketplace. Trap-Ease mission statement. Trap-ease America believes it has developed a product that fulfills a great need in the mousetrap product arena. We have worked hard to develop a trap that eliminates the need to be "involved" with the trapped subject. The company's aim is to provide a seamless experience in pest control. Our product is made to insure an "out of sight, out of mind" experience for the user. The user is not invested in the caught object as it is with more conventional traps. We believe that our product is great for the individual who wants pest control without seeing the pest. My mission statement: Pests are a fact of life. The fact is , pests invade the dwellings of people more than we like to think. The distaste of the presence of pests in a dwelling is unacceptable. Trap-Ease has made as its goal, the production and sales of pest-control devices that meet the need of sense-disengaging pest control devices. This is the main goal of our enterprise. ...
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...Principles of Marketing (MKTG 320) Fall 2013 Syllabus (Tentative) Madan M.Batra (MBA, Ph.D.) Professor of Marketing and International Business Room 406A Eberly 724-357-5776 (Office) 723-388-9595 (Cell) batra@.iup.edu Office Hours Tuesdays and Thursdays: 12:15 to 2:00 p.m. & 3:15 to 3:30 p.m. Wednesdays: 1:00 to 2:00 p.m. Please see the D2L course website for announcements concerning any changes in office hours during a specific week. Instructor Profile I am a professor of marketing and international business at Eberly College of Business and Information Technology. My academic preparation includes MBA in International Business (Dalhousie, Canada), and MS in Marketing and Ph.D. in International Business with focus on International Marketing—both from the University of Wisconsin-Madison. I have worked at a managerial level in a large multinational enterprise. I have taught a wide range of courses--International Business, International Marketing, The Global Village, Self-Marketing, Marketing Internship, Principles of Marketing, Consumer Behavior, Marketing Research, Seminar in Marketing, and Marketing Management at undergraduate, graduate and executive levels. My research interests are in international business, business sustainability, international marketing ethics, advertising ethics, self-marketing, export marketing, cross-cultural marketing, experiential education, and effective pedagogy. My research articles are published in numerous journals that...
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...M17_HOLL6227_05_SE_C17.qxd 5/20/10 4:06 PM Page 641 CASE STUDY IV.3 Dyson Vacuum Cleaner: shifting from domestic to international marketing with the famous bagless vacuum cleaner The Dyson history It is impossible to separate the very British Dyson vacuum cleaner from its very British inventor. Together they are synonymous with innovation and legal battles against established rivals. James Dyson was born in Norfolk in 1947. He studied furniture design and interior design at the Royal College of Art from 1966 to 1970 and his first product, the Sea Truck, was launched while he was still Courtesy of Dyson. studying. Dyson’s foray into developing vacuum cleaner technology happened by chance. In 1978, while renovating his 300-year-old country house, Dyson became frustrated with the poor performance of his conventional vacuum cleaner. Whenever he went to use it, there was poor suction. One day he thought he would find out what was wrong with the design. He noted that the appliance worked by drawing air through the bag to create suction, but when even a fine layer of dust got inside, it clogged its pores, stopping the airflow and suction. In his usual style of seeking solutions from unexpected sources, Dyson noticed how a nearby sawmill used a cyclone – a 30-foot-high cone that spun dust out of the air by centrifugal force – to expel waste. He reasoned that a vacuum cleaner that could separate dust by cyclonic action and spin it out of the ...
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...Contents INRODUCTIONS AND HISTORY: 2 Product and market history: 3 The Intel’s market, suppliers and competitors: 4 The Current and Future Challenges to Intel: 6 Analysis of Intel Corporation: 7 Corporate strategies: 8 Conclusion and Recommendations: 8 INRODUCTIONS AND HISTORY: Intel is one of the world’s largest and very best introducers of semi conductor chip Makers Company. It’s an American based multinational chip makers corporation which is located Santa Clara, California and founded on founded mountain view on July 18, 1968 by Gordon E. Moore , Robert Noyce, Arthur Rock and Max Palevsky. Rock was the Chairman of the Board. After Rock Andry Grove ran the company till 1980 till 1990. The word Intel is basically used in terms of intelligent. Intel manufactured many products as motherboards ,chipsets, network interface controllers and integrated circuits, flash memory ,graphics chips ,embedded processors and other devices which are used in communications and computing systems on large scale. In ages of 1990 Intel was only be known primarily to engineers and technologists i.e. Intel inside which made it a household name, along with its Pentium processor. The main ability of Intel is to combine advance chip design capability with as leading-edge manufacturing capability. As compared to other companies like Google in today’s world Intel is not using common system. As Google is transferring data from long distance by using fiber optics but when machines...
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...Introduction 3 Objective of the study 3 Scope of Study 4 Methodology 4 Drivers of Growth and rationale behind Expansionist Strategy 5 Strategy in Japan (expansion in Japan) 5 Strategy in China 6 Strategy in Australia - Too much too soon? 6 Economic downturn and its impact 7 Major problems faced by the company 7 Solutions 9 Changes in Product Range 10 Changes in Marketing Strategies 11 Key Learning from venture in Australia 12 Payoffs for various alternatives considered 13 Factors affecting decisions and their alternatives 13 Decisions to improve Customer Service 14 Customer Value and Premium Brands 15 References 18 Introduction The first Starbucks store was set up in 1971 by three individuals who had a common liking for coffee and exotic teas- Jerry Baldwin, History teacher Zev Seigel and writer Gordon Bowker. The store was named Starbucks Coffee, Tea and Spice in the tourist’s Pikes Place Market in Seattle. However, later the name was changed to Starbucks Coffee Company. The logo was designed to be a two tailed mermaid encircled by the store’s name. The name was inspired from the coffee loving character in Herman Melville’s Moby Dick The store was a success with excellent sales records and thus several Starbucks stores mushroomed in several parts of the US. Howard Schultz later joined the company as a marketing executive and then acquired it in 1987.In 1992 Starbucks went public and was successful in marketing a regular everyday product...
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...TAN Zhanglu2 1 School of Management, Beijing Union University, Beijing, China, 100101 2 School of Management, China University of Mining &Technology, Beijing, 100083 teacherbian@126.com Abstract: Modern enterprises are facing more and more crisis from the external environment. This paper starts from the four major foreign crisis management theories, then analyzes the main problems of the enterprise crisis management in our country, finally it raises the three aspects ideas of the modern crisis management. The three aspects are named crisis prevention, crisis resolving and summer up after crisis. From the three aspects, we should strengthen the crisis management, and control the deterioration of the crisis in time to ease the crisis finally to turn crises into opportunitiesin order to minimize or avoid the loss of the enterprise caused by crisis. Keywords: Modern enterprise, crisis, crisis management 1 Introduction With the acceleration of economic and social globalization, internal and external business environment becomes more complex and changeable, and are full of uncertainty. This uncertainty has brought the potential for the enterprise crisis. Today's economic and social development is more than ever vulnerable to social conflict, terrorism, technological disasters, and financial crisis. Crisis exists anywhere and anytime. Population expansion, increased mobility, technology development, environmental pollution, information...
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...Cognitive Dissonance and Jenny McCarthy’s Death Toll Candace Stamper PSY/400 Russell Sempell June 4, 2014 Abstract Humans are great at rationalizing their behavior and actions. This is especially true when a group of people or a high status citizen supports an individual’s beliefs, even when there is no valid authority contributed to their stance. Individuals raised in the modern first-world are educated to believe in the science and efficiency of vaccinations to ensure public health and decrease infant and childhood mortality rates. A wealth of evidence exists to prove that vaccinations are safe, effective, and increase public health. The scientific and medical communities, by a vast majority, support the use of vaccinations and are desperately attempting to get vaccines to third world countries and end massive generations-long death tolls attributed to preventable diseases. The diseases that these vaccines prevent had been eradicated in the United States and Western Europe for decades. Why, then, are people willing to allow their children to go unvaccinated in first world nations? Cognitive dissonance may hold the answer to this question. Ian and Linda Williams are educated parents in Auckland, New Zealand, who refused to vaccinate their son, Alijah. This decision would be life-altering. The family was caught up in the recent anti-vaccine movement, promoted heavily by celebrities like Robert F. Kennedy, Jr., Jim Carrey, and Jenny McCarthy - one of the most famous opponents...
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...Group operates 106 production plants in 19 European countries and a further eight countries in the Americas, Asia and Africa. Every weekday, 572,800 employees contribute to produce cars, to keep continuous relationships with customers, suppliers and partners in 153 countries. Volkswagen is a manufacturer of passenger and commercial vehicles. The company’s key products and services include the following: Products: Passenger cars Vans Light trucks Buses Pick ups Campers Brands: Volkswagen Audi SEAT Lamborghini Skoda Bentley Bugatti Some of the company’s data are given below: (* this data is for Volkswagen AG only) Revenues by Geography: Europe, Volkswagen’s largest geographical market, accounted for 44.1% of the total revenues in the fiscal year 2006. Revenues from Europe reached €46,211 million in 2006, an increase of 9.4% over 2005. Germany accounted for 27.2% of the total revenues in the fiscal year 2006. Revenues from Germany reached €28,544 million in 2006, an increase of 10.5% over 2005. North America accounted for 13.9% of the total revenues in the fiscal year 2006. Revenues from North America reached €14611 million in 2006, an increase of 6.5% over 2005. Asia/Oceania accounted for 6.4% of the total revenues in the fiscal year 2006. Revenues from Asia/Oceania reached €6,674 million in 2006, an increase of 26.9%over 2005. South America accounted for 6.1% of the total revenues in the fiscal year...
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...Case Study – Strategy Development in the Global Food Retail Supermarket Industry Introduction In order to develop a global strategy, the deep understanding of the term ‘globalization’ is very important for every company. Globalisation: The globalization increases the mobility of goods. Globalization is a term describing different complex ideological, political, environmental and cultural forces as one world. During World War II, the national boundaries got faded and financial markets, information services, manufacturing concerns as well as cultural products have made themselves available to the whole world. American hamburgers are available in Tokyo today and Japanese cars gets assembled and marketed in America. Virtually everybody is connected through Internet throughout the world. The world around us seems completely borderless. (Steger, 2009) The globalization of food retail super market industry has developed extensively in the supply chain retailing. It has made a greater impact on the public consumer market. The globalization has forced the local food retailers to think beyond retailing in the domestic markets for sustainable growth and presence. The global food retailing industry is a complex collection of diversified supermarket chains, independent food stores, and direct-to-consumer services that supply much of the food consumed today. The successful food retailers usually follow two strategic formats which are as follows: * Discount Outlets These kind...
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...BUSINESS STRATEGY OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Management Ideas Numbers Guide Style Guide Dictionary of Business Dictionary of Economics International Dictionary of Finance Brands and Branding Business Consulting Business Ethics Business Miscellany China’s Stockmarket Dealing with Financial Risk Future of Technology Globalisation Guide to Financial Markets Headhunters and How to Use Them Successful Mergers The City Wall Street Essential Director Essential Economics Essential Finance Essential Internet Essential Investment Essential Negotiation Pocket World in Figures BUSINESS STRATEGY A Guide to Effective Decision-Making Jeremy Kourdi THE ECONOMIST IN ASSOCIATION WITH PROFILE BOOKS LTD Published by Profile Books Ltd 3a Exmouth House, Pine Street, London ec1r 0jh www.profilebooks.com Copyright © The Economist Newspaper Ltd 2003 Text copyright © Jeremy Kourdi 2003 All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility can...
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