...Neuromarketing: The New Frontier of Marketing Throughout our class discussions and papers written, we have debated opposing arguments about the ethical repercussions of marketing to children. In this paper I have decided to take it to an alternative level and evaluate the forefront of marketing, where it is heading, how it works, and attempt to bridge the gap on how this form of research affect children of various ages. Along with all of this, another debatable topic is the moral and ethical issues faced with this expanding sect of marketing. Neuromarketing: What is it? Neuromarketing is a new field of marketing research that studies consumers' sensorimotor, cognitive, and affective response to marketing stimuli. According to some, neuromarketing will change market research and marketing fundamentally. This new form of research is derived from the argument that people don't and can't really know what motivates them, because much of our mental processes are unconscious. However, the truth is that most decisions do involve both automatic, instinctive reactions, and elements of control and consideration. Tools of Neuromarketing: There are many tools used in the study of neuroscience to determine specific chemical changes as well as neurological changes in the human brain. It is the understanding that the researcher’s use of these tools can measure various levels of change in the human body when visually confronted with images and/or video clips. The results of these...
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...Aviation Companies Marketing Strategies . There are various marking strategies aviation companies are making to meet the needs of the growing international business and commercial aircraft market. Global business depends on global economic performance. The world is recovering from a recession. Aviation international business is beginning to have a positive outlook as individual countries’ economies once again begin to grow, especially in emerging markets where there is a projected increase in demand for aircraft. In a globalized world, international air travel at airline and corporate level aviation is assuming a positive outlook. Aviation companies such as Boeing are aggressively marketing their products to compete with Airbus in the international arena, through rigorous global marketing strategies aimed at maintaining a leadership position in commercial aircraft sales. Especially in the medium and heavy aircraft categories. Boeing marketing strategies like other actors in the aviation industry is dependent on projections and forecasts. Boeing targets existing clients/ customer and uses marketing strategies that starts with customer oriented strategy, thereafter product oriented strategy. Included in these strategies are product pricing and advertising strategies. Customer Oriented Strategy Boeing’s main strategy is to target airplane companies by researching all of the airplanes that companies currently use; aircraft routes, capacity, economy, and suitability...
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...The Strategic Move of Crocs, Inc. By Jennifer von Briesen, Founder & Principal, Frontier Strategy, LLC Crocs, Inc. Overview Crocs, Inc. is a U.S. based shoe designer, manufacturer, and retailer that launched its business in 2002 selling Crocs™ brand casual plastic clogs with straps in a variety of solid, bright colors. Love them or hate them, the tremendous popularity of Crocs™ shoes is an undeniable business success story. Crocs’ bold strategic move allowed it to break out of the red ocean and achieve both differentiation and low costs to create a blue ocean. The result was rapid growth and global expansion to reach US$847 Million in revenues and US$168 Million of profits in 2007, just six years after launch. Crocs store in Boston, MA. © J. von Briesen, Frontier Strategy, LLC (2009) Unfortunately, after that, instead of remaining true to the principles of blue ocean strategy, Crocs started to compromise on the very foundation that made it a success. It lost its focus on a few simple styles and started offering a wide range of complicated styles and expanded too aggressively. The result was declining performance and higher costs. In the rest of this article, the story of Crocs’ strategic move will be explained and will conclude with some perspectives on the company’s current situation. Crocs Entered A Red Ocean Industry When It Launched in 2002 The U.S. footwear industry in 2002 was $49.3B in annual sales1, split about 60%-40% between fashion and...
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...Financial Services Practice Journey III: The Next Frontier in Property and Casualty Insurance The Challenge of Profitable Growth Journey III: The Next Frontier in Property and Casualty Insurance The Challenge of Profitable Growth Contents Introduction Dramatic improvement and a paradigm shift 1 A Paradigm Shift The exit of undisciplined capacity Strengthened risk management skills Stronger foundational pillars The Implications The risk journey continues – with profitable growth as the new frontier 7 9 10 13 17 Continuous improvement of risk management Growing profitably in a competitive industry Lessons and barriers Levers to drive growth Upgrading the foundational pillars Conclusion Looking forward 17 21 28 38 43 Journey III: The Next Frontier in Property and Casualty Insurance The Challenge of Profitable Growth 1 Introduction Dramatic improvement and a paradigm shift In our first Journey report, covering 1979 to 1993, we reached three main conclusions about performance in the property and casualty insurance industry: 1. Risk management is the primary driver of success, not investment performance, expense management or financial leverage. We suggested that risk management had four components: enterprise risk management, capital management, product market management, and transaction excellence. 2. Performance is remarkably consistent and selfreinforcing. Winners keep winning, while persistent underperformers tend to be acquired...
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...Operations Management Course contact information • Instructor Dr. Chetan Soman Office & Phone: 4-J, 4839 e-mail: chetan@iimahd.ernet.in Objective of course: To gain an appreciation of the strategic importance of operations and how operations relate to other business functions To develop a working knowledge of the concepts and methods related to designing and managing operations Organizational Functions Finance Secures financial resources at favorable prices and provides funds for operations. Marketing Assesses customers’ wants, and promote organizations goods or services. Operations Creates products & services 4 What is Operations? • Operations – processes that produce goods and services • Processes – fundamental activities of organizations that use resources to transform inputs into goods and services Operations as a Transformation Process INPUT Material Machines Labor Management Capital OUTPUT Goods Services TRANSFORMATION PROCESS Feedback Transformation Processes Physical Locational Exchange Physiological Psychological Informational (manufacturing) (transportation/ warehouse) (retail) (health care) (entertainment) (communications) Food Processing Industry Inputs Raw Vegetables Metal Sheets Water Energy Labor Building Equipment Processing Cleaning Making cans Cutting Cooking Packing Labeling Output Canned vegetables Hospitals Inputs Doctors, nurses Hospital Medical Supplies Equipment...
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...Lecture 4 Class Notes: Last Week's Lecture: Resource-Based View * Valuable, Rare, Imitable, Organizational Structure * Value Chain analysis - closely related to the resource-based view * Used as an instrument to pinpoint what functions of the firm have resources or capabilities that can potentially explain the performance (or competitive advantage) of the firm * Building Blocks of Competitive Advantage (another way of identifying resources and capabilities): * Does the firm have resources or capabilities that explain one of the following building blocks? * Superior Efficiency * Superior Innovation * Superior Quality * Superior Customer Responsiveness * If so, then they are distinctive and create a COMPETITIVE ADVANTAGE (either differentiation or low cost) * Quality divided into two components: excellence & reliability * Quality as excellence - features, functions or services that support the "excellence" perception * Quality as reliable - rarely breaks down and performs intended function This Week's Lecture: Chapter 5 NOTE: product offering--> can refer to actual product, advertising, features, quality, etc. * Economies of Scale - producing more units reduces unit costs * Driven from fixed costs and division of labour (more specialized --> efficient at performing their tasks) * Unit Cost = (Variable Costs + FC) / Total # of products * Learning Effect...
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...of Astor Lodge & Suites, Inc.? 1. Analyse Exhibit 5 and its implications 2. Analyse and compare Exhibits 3 and 5 and identify implications (trends in revenues, occupancy, average daily rates and costs) 3. Analyse Exhibit 4 and its implications looking at EIBTDA 4. Think about what determines EBITDA 4. Given Mr. James' charge to the senior vice presidents, how would you portray and assess sales and marketing initiatives, expenditures, and outcomes for fiscal 2004 and fiscal 2005? 1. Analyse Exhibit 2 (2004) AND Exhibit 3 (2005) re: the objectives/motivation/rationale for each year, initiatives, expenditures, sales budgets (Exhibit 7) , and outcomes(e.g. occupancy rates, first time guests (Exhibit 6), average length of stay, pleasure/vacation trips, advertising awareness for the fiscal 2004 and 2005 2. Think about how to link sales and marketing initiatives and expenditures to corporate financial performance metrics. 3. Several approaches are possible: 1. Approach 1. One approach for determining the effect of marketing and sales on EBITDA for fiscal 2004 and 2005 is to perform an incremental contribution analysis. It requires a student to: (a) calculate room-nights sold, (b) multiply this...
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...Strategic Marketing (Mooradian/Matzler) Chapter 1: Overview of Marketing Strategy & the Strategic Marketing Process 1) A firm that has determined which customers to serve, where to conduct business, and how to meet customer needs has most likely developed a ________. A) profit analysis B) business portfolio C) marketing strategy D) public relations plan Answer: C Diff: 2 Page Ref: 2 2) ________ is the logic by which a company hopes to achieve profitable customer relationships. A) Strategic HR management B) Product differentiation C) Corporate branding D) Marketing strategy Answer: D Diff: 1 Page Ref: 2 3) What are the three basic elements of an effective marketing strategy? A) singularity, target segments, competitive advantages B) target segments, customer needs, geographic markets C) singularity, product differentiation, corporate resources D) competitive advantages, public relations, business models Answer: A Diff: 2 Page Ref: 2 4) ________ is how a firm differentiates itself from competitors in a way that customers value. A) Segmentation B) Diversification C) Development D) Singularity Answer: D Diff: 2 Page Ref: 2 5) According to marketing strategy expert Michael Porter, "Competitive strategy is about being ________." A) efficient B) different C) superior D) satisfactory Answer: B Diff: 2 Page Ref: 2 6) According to Peter Drucker, which of the following is most essential to defining the purpose...
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... Balancing Risk and Return in a Customer Portfolio Marketing managers can increase shareholder value by structuring a customer portfolio to reduce the vulnerability and volatility of cash flows. This article demonstrates how financial portfolio theory provides an organizing framework for (1) diagnosing the variability in a customer portfolio, (2) assessing the complementarity/similarity of market segments, (3) exploring market segment weights in an optimized portfolio, and (4) isolating the reward on variability that individual customers or segments provide. Using a seven-year series of customer data from a large business-to-business firm, the authors demonstrate how market segments can be characterized in terms of risk and return. Next, they identify the firm’s efficient portfolio and test it against (1) its current portfolio and (2) a hypothetical profit maximization portfolio. Then, using forward- and back-testing, the authors show that the efficient portfolio has consistently lower variability than the existing customer mix and the profit maximization portfolio. The authors provide guidelines for incorporating a risk overlay into established customer management frameworks. The approach is especially well suited for business-to-business firms that serve market segments drawn from diverse sectors of the economy. Keywords: customer portfolio management, market-based assets, financial portfolio theory, return on marketing, market segmentation The advantage of knowing about...
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...1 1 Case Questions Problem Losing Money: Astor Lodge & Suites, Inc., a 250 property hotel chain, is about to post its fifth consecutive unprofitable fiscal year. Requirements: Prepare Presentation for new President and CEO, Joseph James, describing each VPs 1) his or her initiatives, expenditures, and outcomes for each of the past two fiscal years, and 2) planned initiatives and budgetary needs for fiscal 2006. 3) Show how their staffs prior and planned initiatives and expenditures contributed the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) - the corporate performance metric recently adopted by Mr. James and the Astor Lodge & Suites, Inc. Board of Directors. Astor Lodges Caase 1 2 Case Objectives This case has four teaching objectives: 1. To introduce students to the economics of the U.S. hotel industry. 2. To affirm the fundamental role that segmentation, targeting, and positioning plays in crafting an advertising and sales program. 3. To alert students to the growing senior management insistence on financial accountability when preparing marketing, advertising, and sales programs. • 4. To consider the objective-task approach to communication budgeting. 5. To apply contribution analysis in the evaluation of marketing decisions. Astor Lodges Caase 1 3 Case Questions Assessment (A2)- Case 1 – Due 7 April by 11.59pm via Turnitin Astor Lodge & Suites, Inc (10%) – Kerin & Peterson page 338 Case Questions: 1. How...
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...white paper | 2012 The New Frontier in Telecom Analytics: Get Better Insight Faster The dynamic nature of today’s telecom customers requires an equally dynamic use of analytics to understand customers and make decisions. ©2012 Peppers & Rogers Group. All rights protected and reserved. 2 Telecom operators are under pressure to deliver, and deliver fast. There is tremendous focus on always-on mobile connectivity and access to information when and where we want it, both in the consumer and business worlds. Telecom operators see this new normal firsthand, providing data networks and technology convergence to bring information and access to their customers in the moment. As a result, it’s become critical for operators to have the same type of fast access and interaction with their customer data and analytics. The current competitive landscape demands it. Are traditional analytical models enough? No. If operators are changing the way they do business, this shift must apply to analytics as well. It’s become imperative to monitor the instant changes in customers’ behaviors and match them with the most relevant offer as soon as the customer needs it. This is achieved with a sophisticated blend of analytics and business sense. This white paper explores the opportunities of two dynamic analytical capabilities: transactional behavioral analysis and capturing data potential. These tools give operators real-time insight about their customer activity so they can take action to be as...
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...Jake 1 The New Marketing Frontier Over the last 20 years, there have been advances in marketing media outlets and strategies. One of the more recent forma is referred to as Social Media Marketing. This method can be defined in a number of ways, but one of the best descriptions came from a marketing professor at The University of Cincinnati, Ric Sweeny, "[Social media marketing is) the ability to use nontraditional communication and connection to build a brand." Social media is one of today's biggest forms of communication and it has not only changed the way people interact everyday but also the way companies communicate. Today's marketers have adapted the various forms of social media to perform a business purpose. As a result the adaptation of social media has taken been a focus of innovation and ideas for the marketing world. Contemporary forms of social media are found in two very popular websites, Facebook and Twitter. Together, these sites are defining the platform for social media in the digital world, and continue to adapt and evolve with advances in technology and consumer preferences. The big debate over social media marketing is, can it be relied on as the new marketing standard compared to traditional marketing approaches. Others challenge that this outlet is just a complement to a strategy that uses multiple marketing methods. Regardless, social media marketing is an effective form of marketing that needs to be embraced, especially...
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...Samsung Case Analysis: Key points Q1: How attractive is the DRAM industry? The DRAM industry is unattractive and will be increasingly unattractive for incumbents going forward. The average industry profitability has been going down over the years and most incumbents have left the industry or have been acquired after a string of heavy losses. Profit potential in the industry will increasingly be under pressure due to on‐going fierce industry rivalry as high fixed costs and excess capacity leads to price cutting and incumbents cannot shield themselves from price competition because product differentiation is difficult on standard products. Future investments in Fab capacity will disrupt industry supply and demand further and will ultimately lead to further price cutting which will put significant pressure on industry profitability. Incumbents will face further pressure from the rising relative bargaining power of suppliers who will pass on increasing R&D costs to incumbents. At the same time, entry barriers that have shield incumbents before from entry will be ineffective at stopping large scale entry from Chinese companies seeking a strategic foothold in the semiconductor industry and will use their large access to cheap financing and relatively cheap but skilled labour to seek a low cost competitive position which will depress prices further. Whilst there are few effective substitutes, developments in ‘hot’ areas such as flash memory are displacing DRAMS in selected...
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...Sample Level I Multiple Choice Questions 1. Sammy Sneadle, CFA, is the founder and portfolio manager of the Everglades Fund. In its first year the fund generated a return of 30 percent. Building on the fund’s performance, Sneadle created new marketing materials that showed the fund’s gross 1year return as well as the 3 and 5-year returns which he calculated by using back-tested performance information. As the marketing material is used only for presentations to institutional clients, Sneadle does not mention the inclusion of back-tested data. According to the Standards of Practice Handbook, how did Sneadle violate CFA Institute Standards of Professional Conduct? A. He did not disclose the use of back-tested data. B. He failed to deduct all fees and expenses before calculating the fund’s track record. C. The marketing materials only include the Everglades Fund’s performance and are not a weighted composite of similar portfolios. 2. Roberto Vargas, CFA, is in charge of the compliance program at his investment firm. According to the Standards of Practice Handbook, as a supervisor, Vargas is least likely required to: A. respond promptly to all violations. B. disseminate the contents of the program to all personnel. C. incorporate a professional conduct evaluation as part of an employee’s performance review. 3. Regarding the definition of the firm, the GIPS Standards require all of the following except: A. firms must be defined as an investment firm. B. a firm’s organization...
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...the company includes goods that aid in the carrying of cargo, people, and other equipment used by the government. The Federal Aviation Administration (FAA) oversees the operation of aircrafts for safety concerns. Because of the safety concerns, Boeing conducts very extensive planning to operate a well-organized and successful business. Planning includes precautionary needs for the future, figuring out the departments’ objectives, activities that could be of some concern to a company, and a company's techniques they will need to accomplish a successful result (Boeing, 2010). During plans making Boeing has to consider the unpredicted problems so that there can be no possible mishaps that could happen. By setting obtainable goals in marketing, sales, mechanical markets and engineering, and updating and training employees to be more effective will ensure that the products exceed high expectations and guarantee the organization is running smooth and efficiently. According to Boeing’s mission statement, "delivering innovative engineering will lead to more advanced products in the future", this has given the company the strong motivation to be the leader in the company's performance-driven culture (Boeing, 2010). Boeing is similar to many companies in that it has ethical, legal, and...
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