...Max Rose Dr. Finkelstein ENG 205-16 Paper #2 The Corrupted Consumer The role of commodities and consumerism in The Talented Mr. Ripley by Patricia Highsmith is paramount in the development of the protagonist, Tom Ripley. The novel begins with Ripley in New York struggling to make ends meet without a socially acceptable job but rather an illegitimate occupation in which he swindled people who had no withholding taxes (artists, writers and freelance workers). Although Ripley is undeniably skillful at social manipulation, he lacks self-confidence and an established identity as a man. As a result of his insufficient cash inflows, the offer from Herbert Greenleaf (an all-expense paid for vacation to Europe in the hope that he can persuade his former acquaintance Dickie Greenleaf to return to New York City) will provide an excellent opportunity for him to live the lavish lifestyle that seemed natural to him and establish his own masculinity through materialist possessions and behaviors. The exceedingly low self-esteem of Tom Ripley (at the beginning of the novel) stems from his Aunt Dottie who constantly berates him verbally by saying that he is a “Sissy! He’s a sissy from the ground up. Just like his father.” (p. 40) Ripley was brought up in an unpleasant environment without a supporting family and a lack of material wealth. These factors contribute significantly to the insecure and self-loathing nature Tom Ripley possesses prior to European excursion. The meetings and conversations...
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...In recent years, the University of Oregon Athletic Department has experienced significant changes. It has undergone 5 different athletic directors over a span of 7 years suggesting possible administrative personnel complications within the department. However, with prominent coaching/administration staffs, state-of-the-art facilities, and media ascendency, the UOAD established a prestigious national brand and is now one of the premier programs in intercollegiate athletics. The UO Athletic department’s budget rapidly grew and doubled in a short time frame of only 6 years. More importantly, it contains only 4 primary sources of annual income including football, gifts & contributions, PAC 12 & NCAA, and broadcast, sponsorships, and royalties. Football is the only UO varsity sport that generates profits, averaging $1.6M annually from 2008-2012. It also produces a steady revenue stream of $3.2M per home game. Contrarily, as the football program continues to excel each year, there is limited growth due to having a $93M budget with an undersized 55K seat football stadium. In addition, increasing revenues for football are equally matched by expenses (6.9 million revenue compared to 7.1 million expenses). This is largely due to the fact that every time the UOAD receives revenue it somehow creates a new expense. Yet, Oregon is finding other ways to generate revenue through MKA events or even parking, but they aren’t substantial to the underlying problems facing Oregon. Through...
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...Chongqing Sichuan Guizhou Source: China National Statistics Bureau, BBDO Analysis 3 As the economy expands and breaks into new ground… …the luxury category is also following suit -- it is achieving high growth simply by getting MORE PEOPLE TO BUY LUXURY GOODS FOR THE VERY FIRST TIME… 4 Luxury spending growth is driven by CATEGORY FIRST-TIMERS DECONSTRUCTING LUXURY SPENDING IN CHINA Source: Bain Luxury Market Survey – China 5 The crucial role of China’s BURGEONING MIDDLE CLASS % SHARE OF URBAN HOUSEHOLDS by income group (in RMB) % SHARE OF LUXURY CONSUMPTION by income group (in RMB) Source: McKinsey & Co. 6 How can they AFFORD LUXURY GOODS What is driving THEIR INTEREST IN LUXURY ? 7 China’ s middle class have a MINDSET THAT IS CONDUCIVE Optimism Ambition Loving of Life for luxury goods & services 65% feel their life will be better in the next 12 months. 42% say they work or study harder in order to succeed. 87% find it important to experience new things & enjoy life. Source: BBDO Voices 8 Their is a desire that is much stronger than THEIR EARNING POWER 49% 62% Say they long for luxury goods despite not being able to afford them right now. The figure specifically among 20 to 25 year olds. Source: TNS China 9 They SAVE UP for luxury products “ I thought about it for a very long time, and bought an LV bag. But my husband said if you carry it, others will think it is fake...
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...TBy: Leyla Cabrera Alejandro Caravaca Giovanni Chirico By: Leyla Cabrera Alejandro Caravaca Giovanni Chirico Tata Motors Limited is India's largest automobile company and the fourth commercial vehicles, with revenues of INR 1,88,818 Crores (USD 34.7 billion) in 2012-13. It is one of the largest truck manufacturer and bus manufacturer in the world. The Tata Motors Group's over 60,000 employees are guided by the mission "to be passionate in anticipating and providing the best vehicles and experiences that excite our customers globally." The company is present in over 120 countries around the world. Tata Motors Limited is India's largest automobile company and the fourth commercial vehicles, with revenues of INR 1,88,818 Crores (USD 34.7 billion) in 2012-13. It is one of the largest truck manufacturer and bus manufacturer in the world. The Tata Motors Group's over 60,000 employees are guided by the mission "to be passionate in anticipating and providing the best vehicles and experiences that excite our customers globally." The company is present in over 120 countries around the world. TATA Motors Analysis TATA Motors Analysis Company Tata Motors belongs to the Group of companies Tata, one of the nine holding largest in the world, with more than 350,000 employees, presence in more than 120 countries and products as diverse as food industry, telecommunications, information technology and various industrial activities. Tata Motors is today the most important...
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...Integrated Company Analysis Group A12 John Faustgen Murali Maddipatla Spencer Morse Topher Stephensen Hanjin Yu Table of Contents Company Introduction......................................................................................................................................... 1 Executive Summary .............................................................................................................................................. 1 Current Issues ......................................................................................................................................................... 1 Marketing Analysis ............................................................................................................................................... 2 The Target Segment .................................................................................................................................. 2 The Positioning Strategy ........................................................................................................................... 3 The Product Strategy................................................................................................................................. 3 The Promotion Strategy ............................................................................................................................ 4 The Distribution Strategy .............................................................................
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...Analysis10 4.4 SWOT Analysis12 4.5 PESTEL Analysis14 5.0 STRATEGIC ALTERNATIVES20 6.0 RECOMMENDATION23 7.0 ACTION PLAN24 8.0 CONTIGENCY PLAN28 9.0 REFERENCES28 1.0 CASE SUMMARY In recent years, modern customers are no longer acquiring shopping only for their goods and services. Nowadays, these customers are buying for different reasons such as to show off their personality, to boost self esteem or to satisfy physiological needs. Shopping good brands like Louis Vuitton, Gucci, Channel and other luxury brands is like a form of self expression and gives people a sense of accomplishment. Louis Vuitton or famously known by its acronym LV, is known for world’s most valuable luxury brand. It was founded by Louis Vuitton Moet Hennesy (LVMH) in 1854 on Rue Neuve des Capuccines in Paris, France. The historical journey began when Vuitton found out traveller trunk were easily stacked. He was made famous for crafting the luggage for Napoleon. This company is famous for its luxury products such as trunks and leather goods to ready to wear, footwear, watches, jewellery, accessories, sunglasses and books. Louis Vuitton stands out more among other brands through their relentless focus on product quality. Since the 19th Century, the manufactures of Louis Vuitton goods are still handmade and over 100 stages are involved in the making of each bag. All products are extensively tested to make sure that they can withstand wear and tear, and that there are no imperfections. The company markets...
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...International Business Sales of Rolls-Royces which is a premium luxury car has trebled from 10 to 37 units, closely followed by Ferrari, which doubled its sales volume from 32 to 64 units this recent months. At the other end of the market, Proton sales fell by almost 40 per cent from 413 to 256 units, while Chery sales fell tremendously by more than half from 309 to 139 units. The story was similar among the German luxury makers such as BMW increased sales by almost 20 per cent from 3,926 to 4,708 units, neck-and-neck with Mercedes-Benz, which increased sales by 18per cent from 3,997 to 4,705 units. By contrast, the sales of traditional market leader Toyota slumped by over 60per cent from 17,555 to 6,927 units. Traditional number two Honda suffered an even sharper drop - by almost two-thirds, from 9,584 to 3,272 units. Hence the reason for the shift in the pattern of demand must be the price of COEs. Generally, car buyers pay more (in total) and bear part of the COE price, while car dealers earn less profit margin and also bear part of the COE price. What matters most is the price sensitivity of car buyers and dealers , If car buyers are relatively price sensitive, then dealers must bear more of the COE. If car buyers are relatively price insensitive, then dealers can pass on more of the COE to buyers, hence many buyers in Singapore are more willing to spend more on luxury cars as they can afford easily. Buyers of BMW and Mercedes cars are probably less sensitive to price...
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...MSC M2nd Semester Luxury Goods and Services Case Study: Luxottica: Internalization and Expansion You may use information search on Internet to answer the following questions: 1. Today Luxottica’s worldwide strategy is mainly global with a high level of standardization and low adaptation. Do you see any room for adaptation strategies in price, promotion, distribution or products? 2. Today Luxottica is a global firm with global brands but this competitive position has been obtained thanks to a step-by-step strategy penetration of the US market and then moved on to other markets. Why do you think Luxottica chose this gradual approach in terms of market selection? Why in you view, has the US been selected as the first foreign market in which to invest heavily? 3. The recent (2008) financial crisis that hit the world economy has changed the global competitive landscape, especially in the luxury sector, with many brands being severely hit by the economic downturn. In these new circumstances many luxury brands are revising their strategies. What do you think Luxottica should do to maintain its competitive edge? 4. Luxottica pursued an aggressive distribution strategy based on acquisitions in its main target markets (US, China). This strategy allowed Luxottica to gain direct control of the market outlets but also generated additional risks. Discuss the main risks related to this distribution strategy. What alternative strategies could have...
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...flat-topped trunk. This new trunk was different from its predecessors, the dome-shaped trunk, in that it was easier to stack and transport. For seven decades Louis Vuitton solely produced leather handmade bags. In 1987, the company merged with Moet Hennessy and diversified into leather accessories. In the mid/late 90’s the company received increasing pressure from Wall Street to sustain a double digit growth rate. In response Louis Vuitton began to look for opportunities to expand globally. Its focus quickly turned to infiltrating the Indian market. By 2008 Louis Vuitton had opened two other stores located in luxury hotels in India. These hotels provided easy access to LV’s targeted market, which was the “super rich”. Now the company was faced with another decision, to continue operation in luxury hotels or to expand into luxury malls. Up to this point, luxury malls were new to Indian consumers, creating a level of uncertainty for Louis Vuitton. In this case evaluation, we will discuss the impact of a high-end company entering a low income country. HIGH-END BRANDS IN LOW INCOME COUNTRIES A high-end brand, such as Louis Vuitton, can often find a market in a low income country. Sometimes the market is too small or too fragmented to pursue, but this is not always the case. Many low income countries have a very unbalanced social structure consisting of a large proportion of the population in or near poverty, a small middle class, and the remainder of the population...
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...Vision and Mission Vision: Aim to be the leading brand of leather goods and accessories in affordable luxury market Mission: Ensure that the Coach brand remains a premier, distinctive and easily recognizable brand by delivering a consistent message to the customer through communications (coach.com, global e-commerce sites and social networking sites) and visual merchandising while protecting the brand from counterfeit goods Objectives * drive growth and increase market share by expanding their distribution channels to reach local consumers in emerging markets and leveraging the global opportunities * multichannel distribution model and increase global distribution * improve same store sales productivity and increase sales of products targeted toward men * build market share in North America, Japan through the addition of new stores * Raise brand awareness and build market share in underpenetrated markets such as Europe, Asia and South America * Anticipate consumer changing needs by being “consumer centric” through the use of extensive customer research and surveys to innovate to create customer and shareholder value * matching key luxury rivals in quality and style while pricing the goods at 50 percent or more cheaper than competitors Strategic Objectives Business Level Strategy * Product differentiation – “accessible luxury brand”. It can defend against new entrants since they have to surpass proven products; they also mitigate buyers’...
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...Burberry In Beirut Souks “One Brand, One Company” “The brand is not this kind of cold, static name outside a shop or outside a building or on a piece of clothing. There are values and a culture behind it." Brand equity is a very valuable term to the British luxury brand Burberry: it lies in the famous checker pattern which is now Burberry’s trademark. Christopher Bailey’s wise words reflect the enterprise’s global strategy. But what did Burberry do to double its net income in just five years? Well, the secret is Britain’s most paid CEO, Angela Ahrendts. The hire of Angela in 2006 turned things around dramatically at Burberry’s headquarters: she understood Burberry’s core competences and its history; she understood the brand and the recent trends in the luxury sector. About Burberry Mission: To maintain the integrity and vitality of Burberry, while continuing to remain relevant to ever-changing markets and consumer tastes. (World Press, 2012) Vision: To be the first digital end to end company. "Our vision is that a customer has total access to Burberry, across any device, anywhere," says Angela Ahrendts. "They get exactly the same feeling of the brand and a feeling of the culture. Everyone can come to Burberry World and understand the journey that Burberry is on.” [ (SalesForce) ] Core Values: Protect, Explore and Inspire. The Business Strategy: It consists of the following steps; starting with “Leveraging the franchise”: market innovation and product excellence;...
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...glittering French multinational in Japan took place in Aoyama, one of Tokyo’s fashionable districts. A unique vision of luxury took shape when Louis Vuitton opened yet another new store inside Comme des Garçons on September 4, 2008, in the heart of Japan’s capital. The pop-up store situated on the prestigious Omotesando Street was an illustration of Louis Vuitton’s attachment to the Japanese luxury market. Yves Carcelle, chairman and CEO of Louis Vuitton, said, “This project not only brings a new meaning to luxury, but also speaks volumes about how the know-how and heritage of Louis Vuitton have always been perceived in Japan, including by its foremost designers. We are very proud to have been able to help Rei Kawakubo2 relive her memories in such an original and creative way.”3The Omotesando guerrilla marketing event reflected Louis Vuitton’s success in Japan. Louis Vuitton had been following an aggressive marketing strategy in the country, opening extravagant stores such as those in Ginza or Roppongi.Take a walk on Ginza’s main street, Chuo Dori, the centre of a paradise for shoppers, with longestablished department stores, such as Mitsukoshi, Takashimaya and Matsuzakaya. Continue through the high-end fashion street Namiki-dori. Stop. There it is. You have reached the massive flagship Louis Vuitton store. When Louis Vuitton, the world’s biggest luxury-goods firm, inaugurated its huge shop in 2002 in the district of Omotesando, Tokyo, hundreds of people were queued outside...
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...and discreet scent, and they prefer the scent of flowers. In addition, the Chinese hardly use deodorant. Most Chinese do not know cosmetic products or only a small part, which requires a high level of involvement on the part of vendors and a strong marketing strategy to attract potential consumers. 2. Copying Counterfeiting is a problem in Asian countries and in particular China, where the industry has taken on an unprecedented scale over the last ten years. It represented in 2006 about 8 % of China's GDP ($115,76 billion) and employed between 3 and 5 million Chinese. Luxury goods are particularly affected by counterfeiting and for several reasons. Firstly, luxury goods are often identified to a brand and this is often the brand that embodies the luxury of a product. Now it has become easier to copy trademarks or logos even if the product itself is not as good as the branded product. Then, luxury goods...
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...BMW, the Bavarian based luxury car producer is seen as one of the most prestigious, stable and admired companies in the world. BMW takes differentiation strategy to ensure BMW Group's lead over competitors and to actively shape the company's future by creating BMW vehicles that are perceived by customers to be unique. The mission statement of BMW Group is clearly defined: “the BMW Group is the world’s leading provider of premium products and premium services for individual mobility”. Another important point in the mission statement was that “BMW Group will invest substantially in future technologies, new vehicle concepts and pioneering drive systems”. This means that in addition to providing quality services to its customers, the BMW Group will engage in new and profitable areas to enhance the business. Vehicles made by BMW are able to command premium prices the prices of BMW Group are based on a differentiated strategy. This means that they charge extra for premium quality. This difference in prices is due to each cars different engine size, gear levels, fuel consumption, sports version. Premium-tization trend of BMW causes polarization of markets. This trend triggers the consumers to demand and pay much higher prices for the perceived quality because customers perceive that the luxury, sportiness, and prestige of owing these vehicles are something worth paying for. The ability to increase revenues by charging premium prices allows BMW group to outperform its competitors and...
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...How to target Chinese luxury consumers Fashion in Macau Date：13/11/2012 Students name: Emma Ling Monica Anni Content Content 2 Introduction 2 1.Market 3 A. Market Size 3 B. Region Size 5 C. Consumption 6 D. Distribution 7 a. The real stores 7 b.The online malls 8 E. Communication 10 a.Why we take point-to-point communication 11 b.When to start point-to-point communication 11 c.How to start point-to-point communication 12 2、Main Players 12 A. Brand summary 12 B. Rank 13 C. Brand development 14 3、Consumer Behavior 15 A. The purpose of consumption 15 B. Region Potential 15 4、Market Segmentation 17 A. Geographic Segmentation 17 B. Demographic Segmentation 17 C. Sociocultural Segmentation 18 5.About Destination Macau 19 Conclusion 21 Sources 22 Appendix 23 Introduction Our group chose fashion as our topic in many luxury category, because we as constumers are concerned about fashion in luxury segment, and the most powerful global luxury goods group is also about fashion. (see “2,Main Players”P12).The most important is that Chinese consumers may most concerned about fashion in luxury segment.Because luxury segment always lead the fashion,so that they can put their new products on the sale. We chose Macau as the analysis city because as one of the special administrative regions of China, Macau has its unique policy and economic model(see Appendix). And because the area is small, it’s...
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