...Customer Based Brand Equity – Wal-Mart Class Discussion Wal-Mart is a transnational mega corporation operating in 27 countries with more than 11 000 stores. In Canada alone, Wal-Mart operates 396 retail outlets quite an impressive number considering they have only been operating in Canada for just over 20 years. Wal-Mart in terms of Brand Equity is quite a contradiction. They continue to lose overall brand value and yet are still the most valuable brand in North America and are ranked in the top 20 brands based on brand value globally. Wal-Mart is a love it or hate it brand. Despite its value, it has nearly as many detractors and is it supporters of the brand. Class Demo Raise your hand if you have heard of Wal-Mart before I started talking today? Raise your hand if you have ever been inside a Wal-Mart? Raise your hand if you have ever purchased anything at all in Wal-Mart? Now, how many of you dislike Wal-Mart? As you can see from this little demonstration, even though we all know and have been in a Wal-Mart we do not necessarily look favorably upon Wal-Mart. This leads me to the first part of Keller’s Model of Customer Based Brand Equity; Brand Salience. Brand Salience: Wal-Mart is brand salient in the fact that as we can see people are very aware and very familiar with the brand. It is part of a lot of people’s consideration sets when shopping and it is seen as value for money. Where Wal-Mart struggles the most in terms of brand salience is with...
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...* His commitment, sincerity, driving energy is conducive in making Salvetec solutions company prominent. Things I dislike : * He has not taken into consideration that China is not one market but many markets. * As a market leader, he has not emphasize in strengthening his brand. * He is not aware of emerging market players in China. * He is impatient, doing many things in quick time. * He has not taken into consideration about the decline in quality of its products that might takes place by manufacturing through local firms. If I would have been in Michael Faye’s place I would have : * Promoted the brand to the target customers. * Maintain the quality of products. * My focus would have been towards value proposition & customer lifetime value. * Meeting...
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...Customer Based Brand Equity Model (CBBE) The CBBE model approaches brand equity from the perspective of the customer – whether customer is an individual or an organization. The CBBE model provides a unique point of view as to what brand equity is and how it should best be built, measured and managed. The power of a brand lies in what customers have learned, felt, seen and heard about the brand as a result of their experiences over time. The big challenge for marketers is to ensure that customers have the right type of experiences with their products and services. In order to do this, marketers must develop marketing programs in way that best fit into customers' mind and linked the brand to the desire customers' feelings, thoughts, actions and beliefs. So that customer-based brand equity is defined as, the differential effect that brand knowledge has on consumer response to the marketing of that brand. Customer-Based Brand Equity Pyramid Brand Salience: It's means broad awareness of the brand. The first step in building a brand equity is the brand awareness that contains two parts; brand recognitioin (how easily customer identify a brand after exposing some cue or a physical product) and brand recall (how easily customer recall the brand without showing a cue while making purchase decision or thinking the product category). We must consider both the breadth and depth of the brand awareness; the depth is that how likely it is for a brand...
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...Jun.25th 2014 Background Timken Company Overview Founded in 1898 by Henry Timken and incorporated in 1904, The Timken Company (“Timken” or “the company”), is headquartered in Canton, Ohio. Timken is the largest manufacturer of tapered roller bearings and alloy seamless mechanical steel tubing in the United States and a leading global manufacturer of highly-engineered bearings, alloy and specialty steels, and a provider of related products and services. Timken is the largest North American-based bearings manufacturer. The company has operations in 29 countries on six continents. As of December 31, 2005, Timken employed approximately 27,000 people. On February 18, 2003, Timken completed the acquisition of The Torrington Company (Torrington), a manufacturer of needle bearings used in transmission and wheel applications. Torrington is now integrated into the company, and has added tremendous scale to Timken’s operations. Torrington Company Overview Founded in 1866 as Excelsior Needle Company, a maker of sewing-machine needles, The Torrington Company was an old-line industrial firm. Torrington operated its business in two segments that were familiar to Timken: automotive and industrial. Sales were approximately equal across the two segments. The OEM business focused on higher-margin niche products. Torrington’s 2002 sales were split as follows: 73% in North America, 17% in Europe, and 10% elsewhere. The company employed 10,500 workers at 27 plants worldwide, and served...
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...Result Update November 14, 2011 Rating matrix Rating Target Target Period Potential Upside : : : : Buy | 32 24 months 29% GMR Infrastructure (GMRINF) | 25 WHAT’S CHANGED… PRICE TARGET........................................................................... Changed from | 35 to | 32 FY12E 7652.8 1820.4 -178.9 FY13E 9689.6 2807.6 168.5 Key Financials (| Crore) Net Sales EBITDA Adj Net Profit FY10 4566.5 1364.3 158.4 FY11 5773.8 1555.5 -131.0 EPS (FY12E).............................................................................. Changed from |0.1 to |-0.5 EPS (FY13E)........................................................................................................Unchanged RATING...............................................................................................................Unchanged Net losses lower than expected… GMR Infrastructure’s (GMR) Q2FY12 net losses were lower than expected largely on account of better-than-expected revenues and margin in the other segment (investment income, project management fees & charter rental income). During the quarter, GMR agreed to sell a 30% stake in GMR Energy (Singapore) implying deal value of ~S$50 million and contributing |1.7/share in our SOTP valuation. We maintain BUY. Q2FY12 losses lower than expected… GMR’s net sales grew 48.3% in Q2FY12 mainly on account of consolidation of the Male Airport (| 225 crore). The net losses came lower at | 62.5 crore vs. our expectation of | 91.1 crore largely...
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...Contract Formation Author: Jason Dorman Business Law Professor Riggs 11-24-2013 A contract must have certain elements to be considered a contract. However, there are also elements that exist that will negate a contract as well. Fraud, undue influence and duress are all elements that will negate a contract. When a contract is breached or negated one party can collect damages or seek equitable remedies. The common law doctrine of election of remedies prevents individuals from taking advantage of the system. These elements are what an individual would not want to deal in any business situation. There are also elements in place to prevent a party from double recovery and this is called the common law doctrine of election of remedies. What we can learn from contracts is that neither side will deceive the other. What is fraud and how does it affect a contract? Fraud is an intentional act by one party to deceive another. “Fraud prevents a mutual agreement to a contract because one party intentionally deceives another as to the nature and the consequences of a contract.” [legal-dictionary.thefreedictionary.com] When each party involved in the contract states their terms. The terms must be factual and any misrepresentation of the truth can void the contract. However, there are situations where an individual’s intentions are to get over on the other party. This is why it is important to read the contract before signing it. What is undue influence? “Undue...
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...QUESTION “There must be somebody in whose favour the court can decree performance” Discuss the principle enunciated in the above statement and the exceptions thereof with the aid of appropriate case law “There must be somebody in whose favour the court can decree performance” INTRODUCTION In order for a trust to be valid, there needs to be an identifiable beneficiary who can either be an individual or a company . If for instance there is no beneficiary, and consequently the trust is for the achievement of some abstract purpose then the trust is to be considered as void. In the words of Lord Grant MR in the case of Morice v. Bishop of Durham : “There can be no trust, over the exercise of which this court will not assume control... if there can be clear, but for uncertain objects, the property… is indisposed of… Every… [Non-charitable] trust must have a definite object. There must be somebody in whose favour the court can decree performance. The rationale of the principle is to ensure the courts ability to administer the trust. Moreover in the case of Re Endacott it was said, in relation to the beneficiary principle, that ‘no principle has greater sanction and authority’ in the law of trust other that requiring the existence of a beneficiary. It is essential for validity. For instance in the case of Re Astor , a trust for the establishment , maintenance and improvement of good understanding, sympathy, and co-operation between nations was...
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...Mitigation of Damages: In most situations, when a breach of contract occurs, the non-breaching party has a duty to take whatever action is reasonable to minimize the damages caused by the breach. For example, in most instances, people who are fired by their employer, regardless of the reason, have a duty to find a new job. Likewise, a thwarted house buyer has a duty to take reasonable steps to locate another house. Liquidated Damages: Many contracts contain provisions specifying a sum certain of money to be paid by the breaching party in the event that he fails to perform as required by the contract. Generally speaking, the liquidated damages are based on a reasonable estimate of the value of the promised performance. Penalties: By contrast, a penalty provision specifies a sum certain of money, bearing no reasonable relationship to the value of performance, to be paid by the breaching party in the event of default or breach. Penalty provisions are rarely enforceable. EQUITABLE REMEDIES In addition to the various types of money damages, there are several equitable (i.e., non-damage) remedies available. Rescission: Canceling a contract and returning the parties to their pre-contract position. Restitution: Returning goods, property, or money previously transferred in order to restore the non-breaching party to his pre-contract position. Specific Performance: Requiring the breaching party to perform exactly as called for in the contract...
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...Restitution an old concept Restitution v Compensation (most cases) i.e.: remedy of compensation Unjust enrichment has 4 main elements (confirmed in Banque Financiere) **** sets out the structure. i) defendant’s enrichment (money is very clearly a benefit to you) (can spend it, can use it) ii) at the claimant’s expense? (did the money come from the bank?) transfer of value from the C or substraction from C … didn’t lose money, but lost time and expertise i.e.: repairing a table iii) was the enrichment unjust? (unjust factors: i.e.: could be a mistake, failure of consideration benefit has passed, but had failed to provide consideration., exploitation) iv) Are there any valid defences? We don’t want the defendant to suffer as well. The claimant doesn’t necessarily gain back everything. (CHANGE OF POSITION THE DEFENDANT RELIED ON THE ENRICHMENT). Reliance, detrimental reliance, links with estoppel. i.e.: textbook, nightout, books. Instead of buying new textbooks, could have bought 2nd hand. Instead of spending the nightout, could have paid individually. The court only look at the gain you still HAVE. They might take away your books, laptop (require to sell off the laptop) depends on REASONABLENESS /SENSIBILITY. So, i.e.: if you spend on HOLIDAY, on other things, i.e.: spend on nightout dinner, the court cant take back anything! Chase Manhanttan. made 2 payments, only should made 1. After being made, the bank went bankrupt, found a constructive trust...
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...to replace the earlier notion that he should draft a contract, and one month passed. BTT then sent Chou a fax requesting that he send a draft for a distribution agreement contract. Despite the fact that Chou did so immediately after receiving the BTT fax, several more months passed without response from BTT. BTT had a change in management and informed Chou they were not interested in distributing Strat. READ ENTIRE DOCUMENT BELOW (2.1) FOR SUPPORTING EVIDENCE: 2.1 The law provides certain relief for aggrieved parties that suffer losses as a result of another party’s breach of contract. These relief mechanisms are collectively referred to as remedies. Recall the distinction discussed in Chapter 1 between remedies at law and remedies in equity. For many contracts, the remedy at law...
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...According to Cheeseman (2013), an occurrence of fraud happens when a person knowingly decides to have someone rely or behave in false representation. In certain situations, legally binding agreements, such as contracts, may become invalidated for multiple reasons. For instance, lack of capacity (Unenforceable Contracts, n.d.) may nullify a contract if at least one party is underage, or doesn’t quite have the mental capacity needed to thoroughly understand what the agreement consisted of. This would not allow a dishonest person to take advantage of a person who is mentally unable to make a rational decision. Invalidation of a contract also includes duress. This occurs when someone is coerced or threatened into an agreement (Unenforceable Contracts, n.d.). My brother is a truck driver so I will use him as an example. Let’s pretend he agreed to haul a load of materials for the upcoming project of a private company. My brother contacted the company and told them he would not complete the delivery unless they paid him more money. The company would probably feel like they are being forced to pay the inflated price because they wouldn’t be able to complete their project without these materials; therefore losing revenue. This type of action could also be described as blackmail. An example of undue influence would be if a manager and subordinate were in a romantic relationship and the manager used that relationship to hang over the other’s head in order to take advantage of the situation...
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...400 Week 4 DQ 1 ACC 400 Week 4 DQ 2 ACC 400 Week 4 DQ 3 ACC 400 Week 4 LTA Interpreting Financial Statements Report ACC 400 Week 4 Power Point Presentation ACC 400 Week 5 Assignments BYP13-7 23.10 and 23.12 ACC 400 Week 5 DQ 1 ACC 400 Week 5 DQ 2 ACC 400 Week 5 Final Exam ACC 400 Week 5 Individual Assignment Debt versus Equity Financing Paper ACC 400 ENTIRE COURSE ACC 400 Week 1 DQ 1 ACC 400 Week 1 DQ 2 ACC 400 Week 1 DQ 3 ACC 400 Week 1 Individual Current and Noncurrent Asset Paper ACC 400 Week 2 DQ 1 ACC 400 Week 2 DQ 2 ACC 400 Week 2 DQ 3 ACC 400 Week 2 Individual Questions from the readings ACC 400 Week 2 LTA Assignments from Readings ACC 400 Week 3 DQ 1 ACC 400 Week 3 DQ 2 Horizontal Analysis ACC 400 Week 3 Individual Assignments from Readings ACC 400 Week 3 Learning Team Assignment E11-1 ACC 400 Week 4 DQ 1 ACC 400 Week 4 DQ 2 ACC 400 Week 4 DQ 3 ACC 400 Week 4 LTA Interpreting Financial Statements Report ACC 400 Week 4 Power Point Presentation ACC 400 Week 5 Assignments BYP13-7 23.10 and 23.12 ACC 400 Week 5 DQ 1 ACC 400 Week 5 DQ 2 ACC 400 Week 5 Final Exam ACC 400 Week 5 Individual Assignment Debt versus Equity Financing...
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...The personal liability of third parties for having received or dealt with trust rights or their traceable substitutes which they received in breach of trust is known as recipient liability. Knowing receipt arises where the recipient has some degree of knowledge that the property was received in breach of the trust or following receipt acquired some degree of knowledge that the rights were trust rights and dealth with them as his/her own instead of returning them to the trust. In Re Montagu’s Settlement Trusts (1987) Megarry J held that in order to found a claim for knowing receipt, the defendant had to have actual knowledge that his receipt was in breach of trust or was ‘willfully blind’ shutting his eyes to the obvious; or willfully and recklessly failed to make the inquiries that an honest or reasonable persons would make. However, a person was not liable for knowledge he might have once had, but had honestly and genuinely forgotten when the breach had occurred. Following this was the judgment in BCCI v Ackindele (2000). In this case Nourse J opined that just as Royal Brunei had cleared away the tangled case law of the past to establish from the first, principles the basis on which a person could be liable for assisting a breach of trust, the court could do the same for the law on recipient liability. He held that a defendant would be personally liable only if it would be ‘unconscionable’ for him to retain the benefit of that receipt of trust property. The court recognized...
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...Remedies: Breach of Contract Introduction There are various remedies available to an innocent party where there has been a breach of contract. The main remedy is damages, but in certain situations, equitable remedies are available. 1. Unliquidated Damages Unliquidated damages are assessed by the court and are designed to compensate the innocent party for any losses incurred as a result of a breach of contract. However, where loss can not be proved, the innocent party will only be entitled to claim nominal damages. In the case of Surrey CC v Bredero Homes (1993), damages were not awarded defendant who had failed to comply with planning permission because the council had not suffered any loss. This can be contrasted with the case of Chaplin v Hicks (1911) where the court awarded damages to the claimant for the loss of a chance to win a competition. Unliquidated damages are not a means by which to punish the defendant and punitive damages will not be awarded for a breach of contract. They are also not a way to recover any gain made by the defendant as a result of a breach. Loss includes any harm or damage to the claimant themselves or any of their property, including any reduction of value of such property caused by the breach of contract. However, in calculating the loss and awarding damages, if the claimant has obtained any benefit from the breach the court will not usually allow the claimant to be put in a better position than they would have been had the breach not occurred...
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...USIU BUS 3010 BUSINESS LAW EQUITY The Maxims of Equity Maxims of Equity— As we have seen in the last chapters, the Courts of Chancery were governed by the principles of Equity. The Equity, again we have seen earlier, is not a single system of law bat a collection of appendices, But the principle of Equity which were followed by the Court of Chancery, while giving equitable reliefs, were not arbitrary. On the other -hand they were based upon those principles of right and obligation which have Juridical relation with aid application to the events aid transactions of society. Many of these general principles constituting the ultimate sources of equitable doctrines are enbodied in its twelve mixims of Equity. - . According to Salmond, “Maxims are proverbs of the law and provide useful means for the expression of leading doctrines of the law in form which is brief and intelligible. According to Prof. Hanbury, “They are the fruit of observation of developed doctrine and the ideas embodied in them are far older than their articulate expression.” The twelve Maxims of Equity which embodied the principles of Equity justice are as under: 1) Equity will not suffer a wrong without a remedy. 2) Equity follows the law. 3) Where equities are Equal, the law shall prevail. 4) Where the Equities are equal, the first in time shall prevail. 5) He who seeks Equity must do Equity. 6) He why comes to Equity, must come with clean hands or He that hath...
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