...CASE 1.6 NEXTCARD, INC. Jeremy Lent, a chief financial officer (CFO) with Providian Financial Corporation decided to apply the marketing tactics used by Providian to establish an internet based company to offer Internet users a faster way to obtain credit cards. Lent hired dozens of marketing researchers to analyze the “surfing habits of Internet users. With this information the marketing team developed an Internet-based advertising campaign to target internet users that frequently used their credit cards and maintained large balances due to purchases made over the internet. NextCard advertised to new customers if they applied on line a response would be received within 30 seconds. Lents business model was a success and by 2000 and had more daily hits than any other credit card issuer. Other well established credit card affiliates referred potential clients to NextCard. NextCard had extended more than $1 billion of credit to internet customers but unfortunately profits were not immediate which the executives ignored to disclose in any press releases. A NextCard executive boasted in February of 2000 that the “company continues to beat our aggressive growth targets while maintaining very strong parameters and core elements of our business model” (Knapp, p 6). In 1999 the company produced a large loss of about $77.2 million. NextCard was able to take the company public with stock price initialing selling for $20 per share regardless of large losses for each reporting...
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...Case 1.6 NextCard Inc. Bryan Seabrook Saint Leo University Advanced Auditing ACC-412-CL02 Angela Sneed 28 March 2012 Case 1.6 NextCard Inc. When consumers and companies decide to invest in a company they are putting all of our trust in the companies that they are buying the stock from and the audit firms that audit those companies. When the consumers lose that trust then it is hard to trust other companies. In this case we will learn what went wrong and what steps can be made to prevent this from happening again. Should auditors evaluate the soundness of a client's business model? Defend your answer. I do not think that auditors should evaluate the soundness of a client’s business model. There are no laws or regulations stating that a business has to evaluate the soundness of a client’s business model. There are regulations and standards in the AU Section 311 that the audit firm has to gain knowledge and understanding of the client’s business operations (pcaobus, 2012). With this being a new business this step was very important. When you have a new business environment entering the business industry it is good to have knowledge and understanding of the client’s business. With knowledge and understanding of the client’s business an audit firm can successfully audit a new industry. Identify and briefly describe the specific fraud risk factors present during the 2000 NextCard audit. How should these factors have affected the planning and execution of that engagement...
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...Nike recently released an advertisement video on July 13th, 2015, “Short A Guy,” the hit video has been seen on TV and has over three million views on YouTube. As a company, Nike has set out to have the gear that will make the customer look as nice as they play. Top flight athletes all across the country use their gear, and in this advertisement it showed the likes of Mike Trout, Andrew Luck, and Anthony Davis all wearing Nike apparel playing their own respective sports. Trying to get the audience to buy their athletic gear, this advertisement clearly appeals to those who are interested in athletics and does so through the use of ethos, logos, and pathos. Throughout this advertisement, the audience is taken through a variety of settings and that is the context for this particular piece. Nike's mission statement is "To bring inspiration and innovation to every athlete in the world." Through the ad they are trying to inspire athletes but also sell them on their clothing to take them over the top as players. As the advertisement plays, it shows the different settings and all the people wearing Nike apparel. Also, it showed the famous athletes in the video wearing Nike gear, and they would tell the kid they are, “Short a Guy.” As he would go from sport to sport, he changed clothes into different sports gear that Nike sells. The audience the author is trying to target are people that enjoy athletics, and that’s why the use of well-known celebrities is key to this ad. Seeing these...
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...In today’s society, we don’t hear cases about monsters scaring children and transforming into heroes. Monsters that turn into heroes come off as rare in the fiction world where most people only see one side of a monster. Two works that suggest monsters becoming heroes are The Cat in the Hat and Monsters Inc. At first, these monsters come about as scary looking but that’s not how these selctions end up; finishing with a twist in the end with monsters showing a care for human children. While written 40 years apart, Dr. Seuss’s The Cat in the Hat and Pete Docter’s film Monsters Inc. demonstrate responsible behavior in interactions with children and show the flawed characters who though their journey have monster heroes who interact with human children and then accept responsibility for the messes they have created. The Cat in the Hat and Monsters Inc. portray a child’s adventure as a result of showing up unexpectedly. The Cat enters out of the blue introducing himself to the two children and begins creating chaos around the house because he’s being a careless cat. The Cat unlocks a crate and frees the two identical creatures with blue hair who rally round the Cat...
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...The advertisement gets the audience attention effectively by utilizing the rhetorical element of pathos. The advertisement does this by using an overweight boy so that the viewers can in a way relate to this boy struggle of trying to lose weight and be active. By doing so the advertisement makes the audience feel empathy for the boy. The advertisement also appeals to your emotions by staying in just a single shot of just the boy jogging; by doing so you get a full view of the facial expression visually see he is motivated. The advertisement does not include any background music. All the audience can hear are the boy light steps, heavy breathing, and the voice of the man speaking. Although, there is no background music the advertisement still manages to be upbeat and inspiring to the audience. The advertisement effectively uses the rhetorical element of ethos. The ethos is effective because the brand Nike has been around since 1962 and is recognized worldwide to the public. The company is highly respected in many parts of the athletic industry. The brand also has a long list of spokespeople and commercials that built credibility to the brands name. By choosing an average overweight boy, Nike is using someone is can be relatable to mass audience. The audience can feel as though that they can trust the boy using Nike because the boy is just like the audience. Although it is a critical aspect for Nike to have credibility when selling their products such as using celebrity endorsers...
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...Nike has been around much longer than most would think and continues to be the leading trend setter in athletic wear. Nike was started in January of 1964. The athletic company began as just a small clothing distributing company out of the truck of Phil Knight’s, owner and CEO of Nikes, Car. The Saying you started from the bottom is very true when it comes to Nike who now leads in sales of all athletic gear compared to Adidas who at the time of 1964 was the most popular athletic company. From starting in a truck of a car no one would suspect that this company would not only be defined as the definition of ‘cool’ when purchasing clothing and shoes from stores all over the United States but yet the brand that carries our pop culture. Nike started with two key people that pushed this company Bill Bowerman , Co founder of Nike and olympic track coach, his search for lighter and much more durable racing shoes for his Oregon State track runners. Combined with Phil Knight's need to make a living while still living out his passion for the athletics. The two became friends over track and the desire to find products that gave a better performance than what was available to them at that time, between the two of them, the seed was planted and from that came the most influential sporting company. A key moment in Nike history was when Phil Knight traveled to Japan on a world-tour searching for a call on his life trying to decided what he was meant to do with this new goal on a random whim he...
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...ADVANCED MARKETING STRATEGY 362MKT Example on Nike Dr. Eric Chu 362Mkt‐2012 Example Company Background • NIKE, Inc. is the world’s leading innovator in athletic footwear, apparel, equipment and accessories. The mission of Nike is to bring inspiration and innovation to every athlete in the world. 362Mkt‐2012 Example Product Market • Garment Industry – The garment industry consists of different categories of wearing apparels that serve both beauty, comfortable and body protection. – Product categories could involve men wear, kids wear, sports wear, ladies, … 362Mkt‐2012 Example Market Audit (1) • External Environment – By STEEPLE • Social factor: people are more concern with health, fashion and beauty. Diverse segments are emerging in the garment industry. (Opportunity) • Technology: different material by nano technology could help to build more comfortable garment for consumer market. Different material available lead to better design for manufacturers. (Opportunity) • Legal: pirated products costs a lot of money for litigations in the industry. (Threat) 362Mkt‐2012 Example Market Audit (2) • External Environment – By 5‐forces • Supplier: supplier marketing in the garment industry are mainly small low costs manufacturers in the area and many suppliers are available. Suppliers bargaining power to the industry is low. (Opportunity) • Buyer: Information transparency increase and there are lot more competitive products for customers to choose...
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...There are numerous sneakers launched by distinct identified and unknown organizations for gamers each and every yr. Some sneakers are extremely unique and a few are costly. Nike, Reebok Jordan,Adidas are best brand identify who promote favourite sneakers for gamers. This 12 months Jordan business also reviled new sinkers and 1 is most latest Air Jordan and quickly its colorway are releasing quickly. An additional current release of jordan business Air Jordan XX9. The two Michael Jordan and Tinker Hatfield collectively launched Air Jordan series which gets to be most promoting footwear from the 12 months. At exact same time Jordan launched an additional pair of footwear Air Jordan III which can be depending on Chicago Bulls-themed edition which seems desirable for red lining and white brand.Shortly, it's turn out to be well-known as well as Michael says 17 from the 29 Air Jordan footwear. Jordan organization unveiled the 2nd edition of Air Jordan within a particular occasion which was black shade with 23 inch brand created for basketball gamers and athletes. Additionally, it attracts thoughts of player as well as other folks. Its reputation can also be raised to best. Nike announced that Jordan Brand endorser Russell Westbrook will launch air jordan shade way maybe throughout Oklahoma City Thunder's video games inside the 2014 NBA gaming. Nike also additional that Air Jordan XX9 will likely be greatest suit for basket ball gamers which might assist within the taking part in battle...
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...Blue jeans! The most popular clothes in all the time. We see people wearing this invention on every day and any occasion. There is no fashion trend has been worn for this long as blue jeans. Jeans are an icon of fashion item, and they manufactured in many fits such as skinny, slim, straight, boot cut, low waist, anti-fit, and the classic. Jeans pants have increasing fashionable. The word "jeans" came from a material called Jean which is named by sailors from Genoa in Italy and they wore clothes made from it. Do you ever thought about jeans? How had it made and how it was invented? Jeans was invented by Jacob W. Davis in partnership with Levi Strauss & Co. In 1831, Jacob W. Davis was born and he was trained and worked as a tailor. He owned a tailor shop which is making tents, horse blankets and wagon covers for trains. Jacob was using a really heavy cotton fabrics named "Duck" and "Denim" which he is buying them from Levi Strauss & Co. The history of jeans is begun in San Francisco. One day, a lady customer came to his shop and asked for a clothes for her husband which has obesity and he couldn't find him a suitable clothes in shops. The lady has requested Jacobs two pants to be made as strong as possible. The tailor thinks about the copper rivets that he is using them on horses blankets and he put them on the pockets of the trousers so they don't tear. Then, these pair of pants get liked by people and became a very popular for heavy work. He had come up with an unusual way of...
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...Nike, Inc. is the world's largest supplier and manufacturer of athletic shoes, apparel and other sports equipment. The company employed about 56,500 people worldwide and in 2014, Nike's global revenue amounted to about 27.8 billion U.S. dollars. The North American region of Nike generated the largest portion of the company's revenue that year, approximately 12.3 billion U.S. dollars. Of that 12.3 billion U.S. dollars, the Oregon based company's athletic footwear segment generated about 7.5 billion U.S. dollars. Nike, Inc. is the world's largest supplier and manufacturer of athletic shoes, apparel and other sports equipment. The company employed about 56,500 people worldwide and in 2014, Nike's global revenue amounted to about 27.8 billion U.S. dollars. The North American region of Nike generated the largest portion of the company's revenue that year, approximately 12.3 billion U.S. dollars. Of that 12.3 billion U.S. dollars, the Oregon based company's athletic footwear segment generated about 7.5 billion U.S. dollars. Statistics and Facts on Nike Statistics and Facts on Nike A new range of Nike apparel products assist the body’s natural ability to regulate temperature when running in a variety of conditions. The innovations are informed by Nike’s "Nature Amplified" design ethos — an approach focused on the body in motion and fueled by scientific data and athlete insights — to keep runners comfortable, protected and focused on performing at their best. Nike designers...
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... Demand And Supply Sneakers or running shoes. Giving the economic situation the world is currently in, the market of certain products can be greatly affected depending on the demand and supply of these products. Sneakers or running shoes as it is, has an increasingly demand and supply curve considering the fact that, the world is highly increasing in both the youth and old age population. A high percentage of Americans strive to stay healthy which involve being physically fit. Running as we know, is what must people do to stay physically fit. This causes a high demand and supply for sneakers or running shoes. The demand an supply of sneakers can be influence by numerous factors. Demand, demand is the quantity of good or services buyers are willing and able to by at a particular time. There can be numerous factors influencing the demand for sneakers or running shoes. Price: price could be an important factor influencing the demand for running shoes. When the prices of running shoes dramatically increases, the demand for running shoes would decrease. on the hand , if prices for running shoes are reduced, demand will increase. Income could also be and important factor affecting the demand for sneakers. As consumer income rises, the demand for running shoes rises and decreases when consumer income decreases. The type of population. If the population has a high percentage of youths that like exercising, the demand for sneakers would increase. on the other hand, say...
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...Nike, Inc is an American company started by Bill Bowerman and Phil Knight. Based out of Beaverton, Oregon, Nike was founded in 1964 under the name Blue Ribbon Sports. Bowerman and Knight changed the name of the company to Nike after the Greek goddess of victory in 1971. The Nike company designs, develops, and manufacturers athletic and active wear products including footwear, apparel, equipment, and accessories. The company started with one pair of running shoes and has grown into a multinational billion-dollar business that provides everything one may need to be active. Nike's success is in great part to the company's strong and ever evolving marketing strategies that continually meet the needs of their target demographics in unique and emotional...
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...Almost everyone in business is aware of Apple’s amazing product success and the extraordinary leadership of Steve Jobs. Some would say that it’s the corporate culture of the company that has allowed them to go from solely a computer company to being known for its ability to come out with path-breaking products. That culture has also been tied to the innovation created at Apple and how they became the pioneer of the “Work Hard Play Hard” ethic. When Steve Jobs returned to Apple in 1996, he totally change the whole organization. With the help from his Human Resources Director, Jay Elliot, he reorganized the hierarchy of the company from the more traditional functioning vertical organization designed by the previous CEO to a flat organization, launching open communication policies and recruiting employees who were genuinely excited about creating products for the company (Shelly, 2011). Steve Job’s leadership skills and the principles for hiring the right people and developing management policies were the basis for Apple’s start and what has helped shaped the organization and defined their corporate culture. Apple's human resource management attracts a quality workforce by attracting visionary people that think freely and can see the potential in different objects. It does this through excellent human resource planning, job specifications, recruiting and the selection process. It all begins with hiring the right people, so how does Apple go about finding the best people who...
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...Starbucks Antoinette E. Hooks, Trish Leeper, Carlos Medina, and Crystal Truong RES/351 November 20, 2013 Amanuel Gobena Starbucks Starbuck partnering its famous Starbucks card into an all in one card could be a win-win situation or a win-lose. Either way Starbucks will maintain one of the largest coffee companies across the nation. One main factor to some of Starbucks consumers would be that of Starbucks rewards program. Now when you have a Starbucks gold card, customers that have one earn one star per purchase made be that coffee and or merchandise. On the other hand it would be a plus to Starbucks consumers to replace a major credit card with his or her Starbucks card now being a Visa card. One opportunity that consumers will now have is the ability to earn more points on coffee and retail purchase. When it comes to credit cards and opting to switch, the main issues consumers would ask about would be the interest rate of the Duetto card verses other major credit cards. If the interest rate is higher consumers would be hesitant to change to the Duetto card. The purpose of Starbucks doing this study is to see how many of its loyal customers would actual apply for the Duetto card and how many would rather carry two cards. Starbucks needed information on what was available to them and how it would benefits its customers along with if it could really work for Starbucks to offer consumer credit cards. Looking into interest rates and possibly additional rewards offered to...
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...SWOT Analysis for Apple’s new iphones Apple is a very successful producer of computer software and hardware that leads in its competitive industry. To evaluate the progress, success, and faults of the company, the SWOT analysis is used. The SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats to the organization. This model is used to help it identify internal and external areas that need improvement and internal and external areas that prove to be successful. Strengths: Over the years, Apple has grown by offering superior products compared to competitors. Apple has positioned itself to be a pioneer in the personal computer industry. It is one of the original hardware producers in the market that controls both the manufacturing of its products as well as its operating system. Apple is self- sufficient and creates its own internal components for the core of its iphones. Apple has set standards for high quality products in order to meet customer satisfaction. It is dedicated to research and development in order to create new products, which are expected to make Apple’s products more efficient and feasible to use. As a result of the company’s commitment to excellence, most of its products are compact and simple to operate. Apple is known for its loyal consumers who purchase its products for quality, regardless of price. Apple has ascended to a brand of distinction in the computer industry, which yielded a successful...
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