...Zhuo Wang MAR6158.901 27/May/14 Case Summary: Mary Kay Cosmetics (Asian Market Entry) In February 1993, Curran Dandurand who was senior vice president of Mary Kay Cosmetics Inc. found out that though MKC has sold its products outside the USA for 15 years by 1992, the international sales only take 11% of the $ 1 billion total. The data showed that one of its main competitors, Avon, its Products Inc. take over 55% of its $3.6 billion sales from international market at that time. Mary Kay Cosmetics Inc., which is also called MKC. Mary Kay is a cosmetics incorporated in Texas (United States) in1963 by Mary Kay Ash. Since that time, Mary Kay Ash’s charisma, philosophy, and motivation were likely appeal to women all over the world, actually this company offers unlimited opportunities of women in business. Mary Kay Cosmetics Inc. is a direct selling cosmetics company, sold a range of skin care, personal care, and cosmetic products through approximately 275,000 independent sales people worldwide. Actually all the company products were manufactured in a single plant near Dallas. And there were four basic levels of independent contractors in MKC sales force: beauty consultants, sales directors, senior sales director, and national sales directors. Promotions were made on the basis of performance, and Mary Kay Cosmetics Inc. involved its sales force in product policy decisions by sending samples to them for evaluation. MKC also developed training ads programs and manuals for its sales...
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...Alima Shamuratova Mary Kay Cosmetics: Asian Market Entry Q1. First, choosing between China and Japan Mary Kay Cosmetics (MKC) management need to focus on profit and financial performance. This is the main objective for every company. Japan market is saturated and if MKC go to this country, it will start bringing profit in 4-5 years. Thus, it will take more expenses. Chinese market is not saturated, there a few foreign competitors and it allows to think that Chinese entry brings profit earlier and be cost advantage comparing to Japan ( if calculate, it can take about 2-3 years to become profitable). Moreover, labor cost in China are cheaper. Secondly, market size of China is almost 10 times bigger than in Japan. Even though that Japan has 77% of women living in cities and China has only 27%, Chinese urban population is three times more than Japanese. Third criteria that is very important is legal and political situation. Japan is politically more stable than China. It is also more difficult to enter to China due to legal regulations and high tariffs, process of entry takes about 2 years. However, foreign companies used joint venture for entry that allows building strong relations with country and sharing risk. Despite the complicated regulation process for entry, Chinese government is more opened to foreign investments than Japan. Fourth criteria is demand and consumer behavior. China and Japan have significant culture difference in perception and sales approach. Japanese...
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...Mary Kay Ash wanted to write a book about women in business. Instead what transpired was a business plan for Mary Kay Cosmetics. In a free enterprise system, people like Mary Kay Ash have the opportunity to make their own influential businesses. The free enterprise system has allowed individuals to start their own businesses and companies, making an impact on the economy. Without the free enterprise system America would have no freedom inside their businesses and would be told how to sell it for how much and only sell certain things. With the enterprise system Mary Kay Ash created a business out of her home and grew it into an international corporation. The free enterprise system helped Mary Ash create a powerful and influential cosmetics...
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...Mary Kay Cosmetics: Asian Market Entry Case Study International Marketing 466 Curran Dandurand, the senior vice president of Mary Kay Cosmetics Inc.’s (MKC) global marketing group is considering how to expand the company’s international operation. She is debating which elements of MKC’s culture, philosophy, product line, and marketing programs might be transferable both in general and in particular in respect the China and Japan, two major Asian markets in which MKC does not have a presence. Dandurand must decide whether to enter either or both of these markets (or neither) and, if so, what marketing entry strategy to pursue. This case gives your global marketing team the opportunity to: 1) explore why two companies (Avon and MKC) in the same business (the direct selling of cosmetics) differ so greatly in the percentages of their sales that are international 2) examine the transferability of a corporate value system developed in the United States to foreign subsidiaries 3) identify the criteria that should determine which country markets a multinational should enter and to assess two countries against these criteria 4) contrast the implications for marketing strategy and tactics of being a late entrant in a mature market versus a relatively early entrant in an emerging market The objective of the case is to focus on the following issues and dilemmas: 1. Why has MKC not been as successful as Avon in penetrating international...
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...Business Coursework Corporate Social Responsibility: With reference to your own research, do you think that the ability of a business to act successfully in a socially responsible manner is mainly determined by the products it produces? 1963 Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large. This simply means that a company gives back that which it has taken from the environment, workforce and society. There are many ways by which a company can behave in a socially responsible way, for example: using recycled products, making sure their products are fair trade (fair trade is paying workers with a wage enough for them to have a comfortable life so that they can survive, customers usually do not mind paying extra for these products) or giving donations to charities etc. “Companies with a defined corporate commitment to ethical principles do better financially than companies that don’t” – DePaul University 1997 A company behaving socially responsible is a relatively new phenomenon, in the past many companies did not care about their staff, economy and environment as long as the business was making profit and expanding, which is still the main objective for many companies today, but through a socially responsible way. The main objective for most companies...
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...Mary Kay India: The Hair Care Product Line Opportunity http://www.marykay.com/ 1. Synopsis : Based on a request received from GM -MK- India, Sheryl Adkins Green, vice president –Brand Development at Mary Kay Cosmetics Inc. is evaluating the expansion of MKC –Indian operation portfolio through a customized Hair Care Product line which will include the soap launched recently in 2008 and which outcome cannot be considered relevant for a decision due to the short launching time span. Previous introduction of hair care line in USA and Europe respectively In 1970 and 1990, proven to be unsuccessful, mainly due to MKC little experience in the Hair Care line being not part of its core business which encompasses: * Skin care * Makeup * SPA * body care * Sun care Products * Lip and eye care Prior to make a decision Sheryl-Adkins called for a staff meeting to debate two issues: a. Market Opportunity: Whether to launch introduce hair care products in India? b. Which elements of MKC’s culture; philosophy; distribution practices might be transferable? c. What would be the launching plan? 1. Hair Care Product line components and characteristics 2. Packaging Characteristics and sizes 3. When to launch the line 4. Mar-com Plan 5. Training of the Independent Sales Force 2. Situation Analysis 3.1 Mary Kay Inc. * Founded in 1963 headquartered in Dallas –Texas * Vision The vision of...
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...Running Head: Diversity Competency Case: Women on Corporate Boards Samantha Bunn Bus 520 May 10, 2011 Dr. Johnny Eluka Running Head: Diversity Competency Based on the stories presented, discuss the characterizations of the female board members in relation to the behavioral model of leadership. When I reviewed this case of women on different boards serving a variety of positions, I felt that there was a comparison with all these individual women whether they are the only woman director on board or whether they are among other women directors on board. However, it’s obvious that when the board only holds one woman the level of office difficulty is higher. The three stories of female board directors where they are the only females on board are very common. These women set a picture showing that they have to give 150% in order to be heard as well as a make a difference. Women who serve as the only female on boards are almost pushed out of the way, their opinions seem to not really matter. Their voices seem not to be heard either. The first woman states that: “You can make a point that is valid, and minutes later a male could make the same pointâ€, however the male will get congratulated where as the female will not. She also mentions that until the males in the board room realize that the females are not going anywhere, the respect is not given. Basically, the women have to work harder than the men to fit in, establish themselves as well as have their...
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...Year | 2014 | Exam Sitting | AUGUST | Subject | E-COMMERCE | Weightage | 25% | Submission Date | 31/7/2014 | Regulations A. Late Submission * A 10% deduction per day of total coursework marks (excluding weekends and public holidays). * Late submission between 5 to 10 days, results in a 50% deduction of total coursework marks. * Late submission past 10 days results in an automatic 0% for coursework and the student will be barred from the final examination. B. Deliverables Students must submit all materials supporting their coursework listed in the deliverable section. * Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student and submitting it as your own. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by the university/college. The coursework must be done individually and must be entirely your own work. Please make sure that you are aware of the rules concerning plagiarism. If you are unclear about them, please consult your program coordinator/lecturer. * The coursework should exhibit formal research skills i.e. with a table of content, proper citations, references, and appendixes. * The coursework write up must be able to demonstrate...
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...Assn. 1: Entrepreneurial Leadership An entrepreneur is a person who has the initiative to start a business, a new enterprise, venture or idea and takes accountability for the risks and the outcome. Most entrepreneurs have a desire for responsibility, like to take risks, have confidence in their ability to succeed, a desire for immediate feedback, a high level of energy, skill at organizing, and value of achievement over money. There are many reasons why someone may take this path but the bottom-line is this person has a strong will and determination to succeed. The leading entrepreneurs I have chosen are Mary Kay Ash and Russell Simmons. Russell Simmons is a business mogul, activist, best-selling author and he is owner and founder of RUSH Communications. RUSH Communications is a leading multi-faceted holding company with investments in well-known and respected brands in three industry segments: entertainment and media; fashion and lifestyle; and empowerment. RUSH Communications, Inc. includes a management company, the hip-hop record label Def Jam, and the sneaker company Run Athletics. He is also the founder of the clothing lines Phat Farm, Argyleculture, and American Classics. Some of Simmons other ventures include a film and television production company, Simmons Lathan Media Group, Unirush Financial Services, Simmons Jewelry Company, and GlobalGrind.com. Rush Communications is currently worth approximately $340 million. Simmons leads in a situational approach style....
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...Case Summary: Mary Kay Cosmetics: Asian Market Entry The article outlines the decision making process of Vice President of Mary Kay Cosmetics Curran Dandurand whether to enter two major Asian markets: Chinese and Japanese. The author shows how circumstances on the local markets, consumers’ needs, even the type of skin and associations about cosmetics of specific nation force the product adaptation to those markets. Dandurand provides evaluation of two markets entry opportunities: Chinese and Japanese. These two countries have different economy, policies, and demographic situation, own history and culture. The article demonstrates how specific conditions of each country are essential for further planning and successful launching the product in international markets. We can see the core differences first of all in the economic ground. The population of China exceeds the population of Japan more than in 9 times. But at the same time per capita GNP in Japan in 44 times higher than Chinese. Consequently, these differences in economies are reflected in the purchase power of population and in start-up cost. The buyer power of potential consumers is one of the most important factors that is taken to the consideration while facing the decision about Asian market entry. It was estimated that start-up investment cost for China is $2.00 million, when for Japan- $10.0 million. Another important factor is that compare to China, Japan was the largest direct selling market in the world...
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...$77,000 Range $75,000-$100,000 $65,000-$115,000 $70,000-$90,000 87% Students Employed 90 Days After Graduation $17,000 Average Signing Bonus MBA Internships Students with Internships Average Weekly Salary 100% $920 $10,150 Average Other Guaranteed Compensation ROI: Function Financial Marketing Other FOR THE 2012 GRADUATING CLASS PRE- AND POST-MBA SALARY Average Salary by Function Average Salary $82,857 $83,063 $79,971 $88,333 Recent Employers 7-Eleven Academy Sports & Outdoors Alcon Laboratories American Airlines AT&T Baylor Health Care System Bell Helicopter-Textron Campbell Soup Company Hewlett-Packard Hilton Worldwide IBM Intel JP Morgan Chase Kellogg’s KPMG LiveStrong Lockheed Martin Luminant Mary Kay Cosmetics McKesson Medical Clinic of North Tx Michael’s Oncor Electricity PepsiCo/Frito-Lay Proctor & Gamble Raytheon Sabre Holdings/Travelocity Stage 3 Separation Susan G. Komen The Gallup Company U.S. Department of Defense UT Southwestern Medical Verizon Communications Weir Oil & Gas Supply Chain Management Average Salary by Key Industry Industry Consulting Consumer Products Financial Services Manufacturing...
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...Management המחלקה להנדסת תעשיה וניהול Industrial Engineering and Management המחלקה להנדסת תעשיה וניהול הגשה בכתב חברת Mary Kate Cosmetics קורס: | אסטרטגיה עסקית | מרצה הקורס: | ד"ר יעקב גרגיר | תאריך הגשה: | 23.3.14 | מגישים – צוות 6 טל ראובן | 037069705 | עומר מליח | 040466328 | איתי אברהם | 066538547 | איתי שוורץ | 034743294 | רועי איש-שלום | 032533747 | ערן אייגר | 032531402 | תוכן ענייניים פרק 1 - רקע 3 1.1 חברת מארי קייט קוסמטיקס - Mary Kate Cosmetics 3 1.2 התפתחות החברה 4 1.3 מוצרי החברה 5 1.4 שיטות המכירה של החברה 6 1.5 מצבה של חברה בשנת 1993 8 1.6 רקע ומגמות מרכזיות בתעשיית הקוסמטיקה 9 פרק 2 - ניתוח סביבת מאקרו 10 2.1 ניתוח PESTEL 10 2.2 ניתוח חמשת הכוחות ל פורטר 10 פרק 3 - ניתוח סביבת מיקרו 11 3.1 ניתוח SWOT 11 פרק 4 - מדדים פיננסיים 12 4.1 יחס נזילות 12 4.2 יעילות תפעולית 12 4.3 נתונים פיננסיים נוספים 12 4.4 סיכום 12 פרק 5 - תיאור הבעיות 13 פרק 6 - פתרונות וחלופות 14 6.1 הצגת חלופות לפתרון הבעיות 14 6.2 פרמטרים לבחינת החלופות 14 6.3 השוואת חלופות 14 6.4 חלופות נבחרות 14 6.5 סט פעילויות שצריכות להתבצע 'מחר בבוקר' 14 פרק 7 - ביבליוגרפיה 15 פרק 1 - רקע 1.1 חברת מארי קייט קוסמטיקס - Mary Kay Cosmetics מארי קיי בע"מ הינה חברה אמריקאית בבעלות פרטית אשר מתמחה במכירת מוצרי קוסמטיקה. החברה נוסדה על ידי מרי קיי האש, מרי נולדה בטקסס, וצברה ניסיון במכירות של ספרים מדלת לדלת בזמן מלחמת העולם השניה. לאחר מכן עבדה בחנות...
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...Mary Kay Cosmetics Marketing Plan • Company Description History of Mary Kay Ash retrieved from the Mary Kay website: Mary Kay Cosmetics was founded about 50 years ago by entrepreneur Mary Kay Ash. Mary Kay Ash retired from a successful sales career and decided to write a book for successful women. She decided to make a list from all the companies she worked for and put what they did right and what was done wrong. From this list she discovered she had a marketing plan for her own business. With her life savings and help from her 20 year old son she started a company that would allow women with open ended potential for success both personal and financial ("About mary kay, para 1" ) Mary Kay cosmetics are sold by direct sales force and independent beauty consultants. Her once direct sales company has now turned into the largest direct seller of skin products in the United States. May Kay Ash’s success came from her following the Golden Rule; do unto others as you would have them do unto you ("About mary kay, para 2" ). Her company fully supports and encourages teamwork, respect for others and fostering relationships built on trust, honesty and caring. Mary Kay is headquartered at Addison in Texas, the US. • Mary Kay’s Mission and Goals Mary Kay’s mission is to help women achieve personal growth and financial success, and to enrich women’s lives. Mary Kay Ash wanted to inspire women; one of her many motivation quotes reflects her mission and goals. This quote retrieved...
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...Judith Litton MAN 104 April 4, 2015 Independence University Small Business Interview This small business interview was conducted between Judith Litton (student) and Kelly Maynard (Thirty-one consultant). The interview took place on April 1, 2015 over the telephone. I told Kelly I needed to know what makes women want to become Thirty-one consultants. Kelly said that she has sold many different products over the last few years such as, Avon, Mary Kay Cosmetics, and even some jewelry, and she stated that out of all of her ventures she has been the happiest with her Thirty-one career. I asked Kelly when she first decided to become a Thirty-one consultant what if any particular challenges she faced while attempting to build her business and she said there were a couple of different things that she had to deal with. Kelly stated that the biggest challenge she faced was she had to wait so long to be able to sign up as a consultant. Over four years ago when she decided to join that was when over ninety three hundred other women decided to join Thirty-one as consultants also. Thirty-one was forced to put a joining freeze on which lasted a little over six months. Kelly stated that once the freeze was lifted Thirty-one broke the women into three groups based on their last names which meant that Kelly was put into the second group of new consultants. With this additional obstacle that just meant that Kelly ended up waiting an additional ninety days before she was able to...
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...Marketing C212 Suzanne Arciga 6/2/2016 A1. New Products and Services Mary Kay was started in Dallas, Texas, with only five products. The entrepreneur, Mary Kay Ash, biggest dream was to transform; inspirer and help women obtain success. Currently Mary Kay offers more than 200 premium products. The product assortments are innovative skin care, tantalizing makeup and unforgettable fragrances. Mary Kay is currently available in 35 markets on five continents worldwide and sales of Mary Kay are about $4 billion in wholesale sales worldwide. Subsequently since 1990, Mary Kay Inc. has experienced substantial growth, opening in more than 20 new markets around the world. In June 2007 there was talk about a corporation by the name of Lugo and Alejandra Aguzzi, that would be selling the popular USA women's cosmetics brand Mary Kay in Costa Rica. Lugo and AA launched a website for online buying and telemarketing company- 24/7 hotline; with no success. There are currently no Independent Beauty Consultants nor does Mary Kay have Costa Rica listed on the website that includes 35 markets on five contents for other countries. I propose two new services: 1) No tax or shipping costs for online purchases for Costa Rican residence 2) Build a store in Costa Rica where customers can walk-in and buy; without feeling the pressure of a consultant. Need and Existing Global Market Listed below are 3 methods/ways that there is both a need as well as an existing global market for the...
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