Introduction to Business Marketing/Finance/Accounting

Question: Describe about the Introduction to Business for Marketing/Finance/Accounting. Answer: Introduction The business sector in New Zealand is largely dominated by 460,000 small and medium sized enterprises (SMEs) that currently employs a massive 30% of the entire workforce, i.e., over 900,000 people (New Zealand Government, 2014). Out of the entire population of enterprises in New Zealand, 97% are presently small businesses consisting of around 20 or fewer employees (See Appendix 1). The aim of this essay is to analyse the business overview, and the marketing/finance/accounting aspect of OOB Organic that operates out of Auckland, New Zealand. Business Overview OOB is a producer of fresh and frozen varieties of organic Strawberries and Blueberries (Omaha Organic Berries, 2016). Industry Overview The organic foods sector in New Zealand has been growing at 25% for three consecutive years irrespective of the global recession(Cooper, et al., 2012) and was valued at $480 million in 2009 (See Appendix 2). OOB Organic is a market leader in its domain of organic fresh fruit and vegetable producers in New Zealand, which consists of over 1,700 certified and licensed organic operations. Marketing Marketing Mix Analysis Product. The products offered by OOB are Asurequality Organic Certified, premium organic fruits which are grown without any form of chemical treatment and related desserts, which are manufactured in a way so as to retain the goodness of the fruits (Omaha Organic Berries, 2016). These include fresh and frozen varieties of organic Strawberries and Blueberries, as well as authentic and delicious, sorbets, ice creams (Se Appendix 3). The organisation has been in existence for a decade and is currently on the lookout for opportunities to expand since it is in the growth stage of its product lifecycle(Twose, 2013). The products are positioned as a premium brand for genuine and certified organic berries and guilt-free desserts that are made with real fruits, without the use of harmful chemicals(Auton Auton, 2013). The products of OOB Organic are branded as by focusing on its key attribute of trustworthiness, that is differentiated based on its sustainability and simplicity, i.e., its ingredients are just fruit, cream and sugar. Thus, its unique packaging is similarly done using only three colours, which signifies its limited ingredients (Martin, 2013). Pricing. The pricing strategy alternatives available to OOB Organic are: Penetration pricing strategy where low prices are used to increase sales, Skimming pricing strategy where high prices are used to increase margins and Competitive pricing strategy where prices are set comparative to industry rivals. The correct pricing strategy for the organisation is competitive pricing strategy of setting prices in the range of $9.99/500 gm for frozen berries, $6.99/470 ml and $3.99/120 ml for ice creams, $11.99/6 unit pack for sorbet ice blocks and $11.99/450 gm for organic smoothies; which will help to reduce price sensitivity, ensure that the prices are market competitive and encourage more consumers to make purchases. Promotion. The promotional methods available to OOB Organic in this context are (Auton Auton, 2013): Trade promotion through trade shows, such as the Food Show in New Zealand, Consumer promotion through product tastings in supermarkets, Public relation through participation in the Restaurant Month Event in Auckland, and Advertising outsourced to Special Group for rebranding OOB Organic from berry growers to a premium brand of organic food producers and distributors (See Appendix 4). The most suitable promotional strategy for OOB Organic is a combination of online promotions through a social media campaign which will attract millennial consumers and increase the interest of tech-savvy consumers, as well as consumer promotions in supermarkets which will increase desire and elicit action through purchase. 2.1.4 Place. The successful distribution of OOB Organic products is aimed at supermarket and hypermarket retailers such as Countdown and New Worlds in New Zealand. The domestic distribution channel can also include popular organic and speciality food stores such as Nosh and Farro in order to reach out to health-conscious consumers (Auton Auton, 2013). In addition to this, exporting half of the overall turnover of frozen berries, i.e. around 500 tonnes, the brand can be targeted at Australian consumers. By making it available in at least 1600 of the top retail outlets of Woolworths stores and Coles stores (NZ Farmer, 2014), the company will be able to reach out to a much larger consumer base spread across the entire country. Consumer/Market Analysis The competitive market for premium quality organic foods can be segmented Geographically, based on the location of the consumer, which will enable the frozen organic mixed berries and ice creams can also be exported to emerging markets (Atherton, 2015) to benefit from the growing aggregate demand for organic foodstuff in these countries and capture a larger market share (See Appendix 5). Demographically, based on the age of the consumer, which will enable the company to serve younger consumers at its ice-cream and smoothie bars such as the one near Matakana Cinemas (Matakana Village, 2016). Behaviourally, based on heavy users of organic foods, who are increasingly aware of the harmful effects of chemical contamination of food (See Appendix 6). Psychographically, based on preference for healthy foods, in an effort to lead a healthy lifestyle (See Appendix 7). Benefit segmentation, based on the need for healthier snacks by consumers, who are particular about taste and health benefits (See Appendix 8). The target consumers are thus urban millennials, who have a sweet-tooth, like consuming organic fruits and are looking for healthier snacks and guilt-free indulgences in dessert items. Finance and Accounting Capital Structure of the Business Small and medium-sized companies often face capital gaps while de-leveraging their capital structures and making important financial transitions. There is a constant need to strengthen the capital structures and to reduce the dependency on borrowing by focusing on alternative mechanisms that enable such enterprises to increase their debt (OECD, 2015). Equity Financing. The options available to OOB Organic for equity financing are: There are 9 programs for business loans and 63 programs for a business grant available for small and medium business entrepreneurs located in Auckland, which can be availed for financial aid, expert advice, and mentorship (NZ Funding Grants, 2016). Funding can be sourced from angel investors who are always on the lookout for investment opportunities that will fetch them high returns on investment(OECD, 2015). The Entrepreneurs' Challenge programme arranged by the University of Auckland Business School, provides $1 million from venture capitalists in equity growth funding to the winner(Twose, 2013). The best alternative for OOB Organic for equity financing is to seek out government equity funding since it is an award-winning Auckland based businesses. This enables it to receive government funding in the range of $500 - $25,000,000 to help finance their small and medium business needs since there is no guarantee that venture capitalists will choose OOB Organic as a suitable business venture Long-Term Financing. The options available to OOB Organic for long-term financing are: Bank lending from Kiwi bank, Westpac NZ, GE Capital, Biz Finance, ANZ Bank and ASB Bank are a credible source for fulfilling the long-term investment and cash flow needs of start-ups in New Zealand(OECD, 2015). Crowdfunding through Snowball Effect, Pledge Me, Equities, and Lift-off can be used to finance particular projects of the enterprise, through peer-to-peer lending (OECD, 2015). Equity crowdfunding is the suitable option for long-term financing since OOB Organic is a new and growing entrepreneurial venture that might not get capital from traditional sources due to the absence of high collaterals and a strong credit history. Short Term Finance The options available to OOB Organic for short-term financing are: Invoice Finance through Pacific Invoice Finance, Invoice Funders and Fifo Capital can be utilised to oversee transient income by releasing money from the receipt receivables record, and reinvesting money back the business to create a more prominent return out of capital that would have generally been tied up on the accounting report(OECD, 2015). Merchant Finance through SFO Capital and New Zealand Merchant Finance Group Limited is for enterprises with multiple low-value point-of-sale transactions, where the funding is done based on card sales value, where repayment is made through revenue collection from the provider of the card(OECD, 2015). The most appropriate option for short-term financing at OOB Organics is invoice financing since it consolidates the gap between the point of sales and receipt of payment, is a flexible short-term financing solution for a small/medium enterprise and can be received irrespective of the existing financial status of a profit/loss making organisation. References Atherton, J. (2015, June 21). Oob wins in organic food sales surge. Retrieved from Stuff.co.nz: https://www.stuff.co.nz/business/69550482/oob-wins-in-organic-food-sales-surge Auton, S., Auton, R. (2013, May 24). Small Business: Shannon Auton - OOB Organic. (G. South, Interviewer) Cooper, M., Manhire, J., Dan, C., Reider, R., Morris, M., Rosin, C. (2012). New Zealand Organic Market Report. New Zealand: Organics Aotearoa. Martin, J. (2013, January 29). Special Group takes OOB to the masses. Retrieved from Idelog.co.nz: https://idealog.co.nz/design/2013/01/cream-crop-oob-takes-it-masses Matakana Village. (2016). OOB Ice Cream Cafe. Retrieved from Visit Matakana: https://www.visitmatakana.co.nz/food-wine/oob New Zealand Government. (2014). The Small Business Sector Report. New Zealand: New Zealand Government. NZ Farmer. (2014, August 28). Organic berry firm snares new market. Retrieved from Stuff.co.nz: https://www.stuff.co.nz/business/farming/cropping/10423230/Organic-berry-firm-snares-new-market NZ Funding Grants. (2016). Auckland Government Funding Programmes. Retrieved from NZFundinggrants.org: https://www.nzfundinggrants.org/region/auckland-government-funding-programs OECD. (2015). New Approaches to SME and Entrepreneurship Financing: Broadening the Range of Instruments. Istanbul: OECD. Omaha Organic Berries. (2016). About Us. Retrieved from Omaha Organic Berries: https://www.oob.co.nz/about-us Twose, H. (2013, September 13). Berry growers branch out. Retrieved from NZ Herald News: https://www.nzherald.co.nz/business/news/article.cfm?c_id=3objectid=11123913

Wall-E, as a film about the relationship between t Essays - Film

Wall-E, as a film about the relationship between two largely non-verbal robots, cannot tell its story through dialogue the way that many other films do. The story focuses largely on Wall-E and Eve, who, outside of a few recognizable phrases, such as each of their respective names and a few audio cues that Eve is seemingly programmed with, the two main characters of the film do not have any dialogue. What little dialogue the movie does have is usually diegetic sound that is happening in the background of the scene, the source of which is not generally the main visual focus of the scene. These scenes, including advertising videos by the CEO of the Buy-N-Large corporation, explains important elements to the plot and why the planet is empty and so polluted, but this kind of dialogue is rare within Wall-E. Nevertheless, the film relies heavily on sound , both diegetic and non-diegetic, to tell its story just as much as any other film, albeit in a slightly different way. Th e relationship between the film's diegetic and non-diegetic contributes to the story of the film in that it sets the tone of each scene, and in fact the entire mood of the film is largely conveyed through how it utilizes sound. Much of the sound in Wall-E is diegetic, and the source is either readily visible throughout each scene or implied to the point that the audience would recognize that the sound has a source somewhere in the setting. We hear the constant sound of Wall-E's treads going over the pavement and we hear his little non-verbal, mechanical reactions to the world around him. Early on in the movie, we hear music that is being played from Wall-E's tape player, and we hear advertising music playing through the street by a speaker. To let the viewer know where these sounds are coming from, often the camera shot centers in on the source for a moment, or else we hear another distinct audio cue, such as Wall-E pressing a play button, directly before to inform the audience that the sound is emanating from something in the scene. When Eve arrives on Earth, we hear a hydraulic "swish" sound as her shuttle opens, and we hear sounds of her hovering mechanism, as well as her respective, often n on-verbal reactions to the world around her. At the start of the film for example, we first meet Wall-E as he is carrying out his assigned directive of compacting garbage and cleaning up. He is listening to some old big band music on a tape-player, and is dutifully working. As the scene unfolds and Wall-E switches his music off, we see the scene expand, and the cheerful diegetic music Wall-E was listening to is replaced by the non-diegetic music score . The music is somewhat ominous and mysterious, and it coincides with what we see onscreen: the world is entirely deserted and overrun with garbage and pollution, and seemingly has been so for quite some time. The juxtaposition of Wall-E's perspective of relative happiness and optimism is thus juxtaposed with the mood of the musical score and what it implies about the current state of the world. Ultimately the relationship between the diegetic and non-diegetic sound in this scene shows the contrast between Wall-E's individual appraisal of the situation on Earth with th e reality of it. Continuing on, juxtaposition of this type occurs several more times throughout the film. One of the most notable cases is when he takes Eve on a "date". Of course, immediately before this scene, Eve has discovered Wall-E's seedling and entered a sort of stasis mode to protect the plant. Never the less, Wall-E takes her out for a "romantic" evening, shielding her from rain with an umbrella, rowing a "gondola" for the two of them, watching the sunset while attempting to hold her "hand", et cetera. The non-diegetic sound of this film is the musical score, which is decidedly romantic sounding and happy. The juxtaposition of the non-diegetic and diegetic sound of this sequence makes for a comedic effect; obviously, Eve is in stasis, and thus has no awareness of what is even really happening. Furthermore, as this is happening, Wall-E

Summary Entrepreneuring as Emancipation Essays

Summary Entrepreneuring as Emancipation Essays Summary Entrepreneuring as Emancipation Essay Summary Entrepreneuring as Emancipation Essay There exist four main approaches about what entrepreneurs distinguishes from managers: (1) creation of new organizations, (2) high-growth, high- wealth-creating businesses, (3) innovations and creation Of new products and arrests, and (4) recognition and pursuit of profitable opportunities. The underlying assumption is that wealth creation is a fundamental goal of entrepreneurial efforts. Jim Corona: he provides anecdotal evidence that individuals often engage in entrepreneurial for motives other than wealth. Corona was a senior vice president at a large long-distance telephone provider and he stated that decisions came too slow, he had too little control of the work environment, and all corporate decisions were dominated by their impact on next quarters earnings. His CEO asked him to lay off employees in Corpsmans hometown in order to boost the quarterly earnings, however he refused and left the company. He then created his own company to provide jobs for sixty of his laid-off neighbors. This start-up motivation is the intent of the Special Topic Forum (SST) and this article. The given definition of entrepreneurial is consistent with prior research in terms of the creation of newness. The objective of this article is to extend and complement this research. Two goals in this article: (1 ) broaden the focus of entrepreneurship research by drawing attention to the emancipators aspects of entrepreneurial and (2) introducing the papers contained in the SST and elate them to the emancipators perspective. Entrepreneurial Business et al suggested an overarching framework that characterizes entrepreneurship in three nouns: (1) entrepreneurs, (2) new ventures, and (3) opportunities. This focus has been valuable, however it also limits the research attention given to the actions and processes that constitute the domain Of entrepreneurship. TO promote attention to research that investigates the doing the call for SST papers is framed in terms of entrepreneurial, following Wick his idea that verbs draw attention to actions and processes geared toward change creation. Additionally, using entrepreneurial encourage researches to study a broader set of actions intended not only to create new wealth but also to bring about new states in relevant economic, social, institutional, and cultural environments. To direct more research to the study of entrepreneurial activities as generators of change, a perspective is developed on why and how entrepreneurial can be viewed as an emancipators process. Emancipators refers to the act of setting free from the power of another. Viewing entrepreneurial projects as emancipators efforts focuses on understanding he factors that cause individuals to seek to disrupt the status quo and change their position in the social order in which they are embedded. The need to develop this perspective arises as the motivation for entrepreneurial is a desire for freedom and independence from conventional structures of authority and income generation. Entrepreneurship research needs to give closer consideration to entrepreneurs dreams for autonomy and change and the processes through which these dreams may be accomplished. Emancipators entrepreneurial When entrepreneurial is viewed through an emancipators lens, there exist here core elements: (1) seeking autonomy, (2) authoring, and (3) making declarations (TABLE 1). Entrepreneurial efforts may involve breaking free from authority and breaking up perceived constraints. These constraints can be of an intellectual, psychological, economic, social, institutional or cultural nature. With regard to taking actions, authoring and making declarations locate an entrepreneurial project in the domains of organization resource exchanges and managing stakeholder interpretations. Seeking autonomy Autonomy is a goal of emancipation which is defined as breaking free from he authority of another. The hope for autonomy is one of the main drivers of efforts to become self-employed. Breaking free suggests the desire to make ones own way in the world, breaking up draws attention to the striving to imagine and create a better world. Analyzing the seeking autonomy aspects of entrepreneurial opens up the following directions in entrepreneurship research: The breaking up aspect of emancipation resonates with the Centenarians view of entrepreneurship as creative destruction. However, the emancipators view goes beyond the Centenarians view by attending to tooth the breaking free and the breaking up. Example: how do entrepreneurial efforts may be affected by different conceptualizations of autonomy? Escaping the default individualist assumptions derived from the disciplines of psychology and economics that have informed it, and theorizing and researching both deeply individualist and social aspects. It involves the breaking up of constraints. The emancipators perspective sees creative destruction as one of its goals (instead of the mean). Entrepreneurial individuals and groups often solve technological and other problems because hey are internally motivated to change their worlds. The emancipators perspective suggests that understanding the constraints that entrepreneurial individuals seek to overcome may give us better insights into the process through which entrepreneurs create (first change, then opportunities). The emancipators perspective suggests that entrepreneurship research should more closely consider the social change agendas inherent in many entrepreneurial projects in order to understand their emancipators potential. It would suggest that a distinction is not only unnecessary but potentially not laid, since many entrepreneurs seek to improve their economic positions through the impact of broader social change. Authoring As emancipators means breaking free and autonomy, taking ownership of oneself, of one acts, and of becoming a trader. The entrepreneur must necessarily attend to the variety of relationships, structures, norms, and rules within which an entrepreneurial project is undertaken. Existing research tends to emphasize how gaining support from structures of power and authority ensures the success of acts of breaking free. Individuals who seek redeem and independence, often find that they become controlled by the arrangements they make to gain legitimacy and access to resources. Viewed from an emancipators perspective, entrepreneurial involves authoring defining relationships, arrangements, and rules of engagement that preserve and potentially enhance the change potential of a given entrepreneurial project. Authoring does not refer to an outright rejection of all established norms and forms of authority but designing arrangements. The emancipators perspective emphasizes the need to consider the possibilities for resource obligation through authoring as a process for protecting the emancipators potential of new ventures. A key direction for entrepreneurship research suggested by the concept of authoring is to examine the conditions and processes through which entrepreneurs can effect such trading of places. Authoring generally about attending to the variety of relationships, structures, norms, and rules within which the entrepreneurial project is undertaken. Entrepreneurship research can make important contributions by directing greater research attention to the creative authoring of relationships and rules wrought which entrepreneurs can Pleasure their dreams and create change. Making declarations Making of declarations: unambiguous discursive and rhetorical acts regarding the actors intentions to create change. The idea of making declarations points to the need to position the project in the webs of meaning within which stakeholders interpret the value of products and activities. Existing research recognizes the importance of activities that influence established patterns of meaning for the success of new ventures. It has analyzed how symbolic and cultural resources, and symbolic actions are deployed to influence the interpretations of stakeholders. An emancipators perspective suggests that rather than disguising the difference associated with entrepreneurial activities and masking the potential contradictions through legitimating activities, entrepreneurial may involve explicitly exposing contradictions in an effort to generate stakeholder support for the intended change in the status quo. The idea of making declarations suggests several new directions: Making declarations raises consequential questions of intuit should be said and how? (signaling and disclosure), who gets to Say and who am I to say? voice), and who out there cares? (audiences). Enables researchers to consider more systematically the inevitability of concentrations arising once declarations are made. The need to systematically examine the use of cultural and symbolic resources for effecting change, rather than acquiring legitimacy. An emancipators perspective suggests the need to attend to the institutional work that accompanies entrepreneurial activities and the constitution of new institutions around new products, projects and activities. The SST articles (4) A limitation of the existing research is that it almost exclusively examines entrepreneurship within formal economies, however, a huge amount of commerce takes place within the informal economy (that segment of economic activity that is illegal within a society but is viewed as legitimate by sizable groups within the society).

Juan Corona, the Machete Murderer

Juan Corona, the Machete Murderer Juan Corona was a labor contractor who hired migrant workers to produce fields in California. In a murder spree lasting six weeks, he raped and murdered 25 men and buried their machete-hacked bodies in the orchards owned by local farmers. Diagnosed With Schizophrenia Juan Corona (born 1934) moved from Mexico to Yuba City, California in the 1950s to work as a produce field-worker. Corona, diagnosed with schizophrenia, managed to work up through the ranks despite his illness. In the early 1970s, he moved from the field into a contractor’s job and hired workers for the local Yuba City Growers. The Hired Help Married with four children, Corona succeeded in providing a comfortable life for his family. He had the reputation of being a tough person in his interactions with the workers he hired. Many of the workers were down-and-out men, homeless alcoholics, old and unemployable. Few had family ties and most lived nomadic lives. Corona in Full Control Corona offered the workers housing on Sullivan Ranch. Here the migrant workers and itinerants worked daily for little pay and lived in a dismal prison-like environment. Corona had control over their basic needs of food and shelter and in 1971, he began to use that power to satisfy his sexually sadistic impulses. Easy Victims For men to vanish without anyone taking notice was common on the Sullivan Ranch. Corona took advantage of this and began to select men to rape and murder. Their sudden absence did not cause concern and went unreported. Knowing this- Corona made little effort to destroy evidence linking him to the murdered men. A Pattern of Murder His pattern was the same. He dug holes- sometimes a few days in advance, picked his victim, sexually assaulted and stabbed them to death. He then hacked at their heads with a machete and buried them. Discovery of a Grave Corona’s carelessness eventually caught up with him. In early May 1971, a ranch owner discovered a seven-foot freshly dug hole on his property. When he returned the following day he found the hole filled. He became suspicious and called authorities. When the hole was uncovered, the mutilated corpse of Kenneth Whitacre was found three feet in the ground. Whitacre had been sexually assaulted, stabbed and his head split opened with a machete. More Graves Uncovered Another farmer reported that he also had a freshly covered hole on his property. The hole contained the body of an elderly drifter, Charles Fleming. He had been sodomized, stabbed and his head was mutilated with a machete. The Machete Murderer The investigation turned up more graves. By June 4, 1971, authorities uncovered 25 graves. All the victims were men found laying on their backs, arms above their heads and shirts pulled over their faces. Each man had been sodomized and murdered in a similar fashion- stabbed and two slashes in the shape of a cross on the back of their heads. A Trail Leads to Corona Receipts with Juan Coronas name on them were found in the victims pockets. The police determined that many of the men had last been seen alive with Corona. A search of his home turned up two bloodstained knives, a ledger with seven of the victim’s names and the date of their murders logged, a machete, pistol, and bloodstained clothing. The Trial Corona was arrested and tried for the 25 murders. He was found guilty and sentenced to 25 consecutive life sentences, leaving him no hope of parole. He immediately appealed the verdict. Many believed an accomplice had been involved in the crimes but no evidence supporting the theory was ever found. In 1978, Coronas appeal was upheld and he set out to try to prove the lawyers during his first trial were inept because they never used his schizophrenia to plead insanity. He also pointed the finger to his brother as being the real killer. Coronas half brother, Natividad, was a cafe owner who lived in a nearby town in 1970. Natividad sexually attacked a patron and left his beaten body in the bathroom of the cafe. He took off to Mexico when he found out the victim was going to sue him. There was no evidence found linking Coronas brother to the crimes. In 1982, the court upheld the original guilty verdicts. Meanwhile, Corona was involved in a prison fight and received 32 razor cuts and lost an eye. Six Weeks of Murder Coronas killing spree lasted six weeks. Why he decided to begin killing is a mystery and one that many psychologists pondered. Most believe he probably had a past of sexual assault and victimizing the helpless individuals who he hired. Some attribute Coronas violence to his need for supreme control of his victims.

Humanities Essay Example | Topics and Well Written Essays - 500 words - 9

Humanities - Essay Example Roman glass makers used The Hellenic technique of sagging glass for open form cups and bowls over a convex mould in casting in the 1st century BC The glass blowing technique allowed the development of myriad shapes and designs which revolutionalized glass industry all over Europe. It also increased the uses of glass in many aspects of life all over the Roman Empire because it was easier to make it. The war victories by Romans led to more conquests which were possible because the Appian Way was there. This led to contact with other cultures hence the Roman culture had a lot of influence from many parts of Europe. Slaves of war brought their cultural influence. The Roman Empire was able to spread its culture throughout Europe including Latin and this was only possible because the army was well supplied and could move in speed to any â€Å"theatre of war† as Claudius had intended. Mostly, such works were made when the aristocrat was alive and as such, it paints a connection of the present to the past. The Roman art was predisposed to realism unlike that of the Greeks. An aristocrat would like such a depictive sculpture made to indicate to his lineage that life is a continuous journey and in addition, to make a connection to great personalities who existed before them. The care with which the aristocrat holds the busts shows reverence and not disdain as scalp hunter would hold their trophies in contempt. 2. The aqueducts; these shows the brilliance in utilizing natural resources to serve the needs of the people. To date, not many cities can boast such magnificent displays of genius in serving their populace. 3. The use of concrete; the Roman Empire is still remembered because there is proof of how great they were through existing buildings like the Parthenon. To date, concrete is still the material of choice centuries after the brilliant Roman engineers invented it. The colloseum

Hydrographic Surveying Essay Example | Topics and Well Written Essays - 2000 words

Hydrographic Surveying - Essay Example Since then the science has evolved from a crude form of conjecture to a fairly accurate predictive one. This paper prepares a report form of investigation in which the implications of converting hydrographic surveying based on single-beam echo sounders to multiple-beam ones shall be studied and considered in detail to assess feasibility and functional efficacy with particular reference to Medway Ports, UK. To initiate this noble venture it is first necessary to study a little of Medway Port, Kent, UK, especially in detail to its known navigation features. The Medway Ports authorities define the Medway River as one of the principal trade arteries of the United Kingdom with particular utility to the South East of England through which this river flows before ending into the sea strategically near to the English Channel and the North Sea (Overview, Medway Ports, 2007). This proximal position to two main European trade routes, the port's efficient functionality and its easy accessibility to its hinterland by road, rail and water has eventually evolved it into a port of choice for many export and import operators. Cargoes such a fresh produce, forest products, new vehicles and steel and containers pass through it to and fro British soil (Overview, Medway Ports, 2007). Actually, the... Actually, the Medway Ports authority is a statutory one and is responsible for a 27 mile stretch of water that is a combination of the Medway and Swale rivers. The authority is responsible for maintaining the rivers and for providing and coordinating pilotage and vessel traffic services to ensure safety of all river users including pleasure boat ones (Overview, Medway Ports, 2007). The Ports are mainly a combination of the Sheerness and Chatham docks (Peel Ports Group, Medway Ports, 2007). Britain's first LNG handling terminal was constructed at the Isle of Grain within the Ports complex (Peel Ports Group, Medway Ports, 2007). Pilotage services provided by the Ports authorities are compulsory for vessels of 50 metres and above in length. The Medway Conservancy Board has taken over hydrographic surveying of the Medway Ports system from the Royal Navy Hydrographic Inshore Squadron since the 1960s. Presently, it has tow crafts at its service - the 18.9 metre Medway Surveyor that surveys the main reaches of the Medway and the deeper offshore waters and the 6 metre Medway Recorder which surveys the berths and shallower waters. Both vessels have permanently installed echo sounders that can also work as side scan sonar recorders (Hydrographic Service, Medway Navigation Service, 2007). It is assumed that the echo-sounders are all single beam ones.Hydrographic Surveying Hydrographic surveying is undertaken in two types of operational locations - oceanic or relatively deeper offshore waters and relatively shallower inshore waters. As has already been evidenced with Medway Ports, the former locations are usually surveyed by larger survey ships like the Medway Surveyor and the latter locations by smaller

Gucci, Louis Vuitton And Vertu Essay Example for Free

Gucci, Louis Vuitton And Vertu Essay Creating luxury brands is a difficult marketing exercise. It requires heavy investment in marketing communications, excellent product/service quality, but above all these brands have to try to remain fashionable, which is notoriously difficult. Gucci, Louis Vuitton and Vertu are three successful so-called luxury brands, that retail to the high-end market. Both Gucci and Louis Vuitton are well-established brands that have been around for decades, even centuries. However Vertu, is a relatively new kid on the block, having only entered the luxury communications marketplace in 2000. Vertu sells expensive mobile phones that retail for thousands of pounds. Only a handful of brands can create a high status appeal among the world’s super rich (e.g. Ferrari, Rolex, etc.). These brands have to adopt innovative marketing strategies in order to succeed in this dynamic environment. What do they do differently to create this luxury appeal? Marketers are moving from the traditional marketing mix approach towards greater use of experiential marketing. This is where customers are treated as both rational and emotional individuals that seek ‘experiences’ from products. The key is to engage customers in a memorable experience around the product/service, developing a relationship with customers and creating an affinity with them. The central aim of experiential marketing is to create an emotional attachment between the brand and the customer. Gucci, Louis Vuitton and Vertu provide this experience through their unique product image and features, their outstanding service, their exclusive retail environment, their pricing, their selective channels of distribution, their distincive packaging and the overall benefits associated with their unique brand images. To promote a product to the high-market it is important that the customers have the right experience so that the desired feelings, images and perspectives beco me linked with the product/service and their marketing programme. It is necessary for the brand to convey a personality that the customer can relate to, or wish to aspire to and then communicate this to others.  Consumers of these brands feel that they too are fashion and design conscious, that they too are wealthy, and that they are part of the â€Å"in-crowd†. In many cases, luxury brands are tapping into the â€Å"aspirational† buyer market; luxury brands are offering products at different price points in the hope that sometime during the customers’ lifetime they will trade up to their more exclusive ranges. However, the risk of ‘democratising’ the brand is that they may lose their aura of exclusivity – as it can be obtained by anyone. Gucci, Louis Vuitton and Vertu rely on the imagery of their products to appeal to the high-end market. The prestigious pricing of their products creates a high quality image and positions the goods in the mind of the consumer as a status symbol. The success of Gucci, Louis Vuitton and Vertu can be attributed to quality of service, brand image, retail environment, management structure and above all their ability to combine these factors to create an exclusive experience. We will now take a closer look at how these companies became what they are today, while focusing on unique product features and image, their brand imagery, retail environments and channels of distribution. Gucci Gucci has experienced many changes since it opened its first luggage company in Florence in 1921. At first, it mainly sold only luxury leather goods. Within a few years the store became popular among international and affluent clientele. By the 1950’s Gucci’s global presence was established with its first store in the US in New York. By the 1970’s stores were opened in London, Paris, Palm Beach, Hong Kong and Tokyo. It has become a truly global luxury brand. Today, Gucci has over 415 stores worldwide and in 2008 alone, reported sales of  £3.4 billion (an increase of 5.5% on the previous year). Gucci was also ranked number 41 in the Interbrand ‘Best Global Brand’Survey 2009. The high fashion industry is notoriously competitive with rivals such as Hermes, Dior, Chanel, and Prada, all vying for a slice of the action. This increased competition has resulted in the Gucci group becoming a multi-brand company, which consists of several well known brands, such as Alexander McQueen, Stella McCartney and Yves Saint Laurent. While the Gucci brand represents the core business of the Gucci Group (accounting for 65% of total revenue), the Gucci Empire now consists of eleven leading brands and the channel of distribution differs for each. For example, Yves Saint Laurent uses not only directly operated stores but also points of sale in leading  department stores mainly based in Europe to reach a wider range of customers. A major influence on the success of Gucci in the 90’s can be attributed to the appointment of leading designer Tom Ford. He joined Gucci in 1990 as the company’s Womenswear Designer and became Creative Director of Gucci. With Tom Ford’s vision, Gucci’s image was reinvented. He was responsible for product lines, store image and store design. In March 1995, Tom Ford’s first collection caught the attention of the press by utilising sex and glamour. Within a year of Tom Ford’s launch of his new collection, Gucci’s profits rose by 90% and the company is now worth nearly $500 million. However, Ford vacated his position in the Gucci Group in 2004 due to issues of control in the renewal of contracts, issues which could not be resolved between the two parties. 32-year-old Frida Giannini, who originally joined Gucci in 2002 as Handbag Design Director now serves as Creative Director for the entire Gucci brand and to date she served the company well, transforming Gucci classics into modern, successful designs. In addition to the role she plays in the creation of new Gucci products, Giannini immerses herself in other aspects of the business; she has taken an active role in developing new design concepts for Gucci stores, as well as taking responsibility for the creative direction of all advertising campaigns. She has also been responsible for the brand’s increased use of celebrities to promote the brand, including Drew Barrymore and Clare Danes for their jewellery campaigns and singers Rihanna and Madonna for their Unicef initiatives. So what is the key to Gucci’s success? The essence of Gucci is its exclusivity. The brand portrays a sexy and vibrant image, which is communicated through their designs, fashion shows and advertising. The importance of the Gucci brand’s positioning is that it is distinctive and has an aura of exclusivity amongst its target audience. The image and aura of prestige surrounding Gucci gives added value to their products. This is created through advertising, innovative designers and the whole experience of buying Gucci. Gucci uses controversial advertising such  as the promotion of their perfume ‘Opium’ with a naked image of Sophie Dahl. This caused uproar in Britain and was banned by the advertising standards, as it accounted for a third of all complaints about poster adverts. However this campaign managed to win advertising awards throughout Europe. Gucci’s advertisement in Vogue also created controversy with an image of a woman with the letter ‘G’ imprinted in her pubic hair. These illustrations helped gain media coverage for the campaigns and boosted brand awareness. Typically, the Gucci brand tries to appeal to women in their 20’s or 30’s with high quality, fashionable products, and those who aspire to be part of the jet set lifestyle. This image attracts people who feel they can relate to this profile or who wish to aspire to this image. Gucci achieves this in many ways; stores are located on expensive high street locations, thus attracting affluent consumers. The window displays are provocative and the interior has a free flow layout as its visually appealing and allows consumers to browse comfortably. The dà ©cor is rich and classic to add to the atmosphere of the store. The salespeople are model-like, smartly dressed all in black and ready to assist consumers in any way. Even the security guard is suitably dressed to add to the image. The distinctive Gucci packaging concludes the experience. Gucci has directly operated stores to ensure that they retain control over their products and can build their image around these stores. About 70% of sales are done in Gucci stores alone. It is also possible to view and purchase Gucci products online, thus reaching a far greater target audience. Louis Vuitton The famous brand started out back in the 1850’s. The founder was made famous for crafting luggage for Napoleon. From theses roots the brand has become synonymous with luggage and in particular handbags. Louis Vuitton is very much the envy of the industry, recording an operating margin of 45%, whilst the industry average is only 25% for luxury accessories. The company is famous for its handbags, but also sells a range of wallets, briefcases, eyeglass cases etc. The brand is estimate to be worth approximately $19 billion. Louis Vuitton stand out from their peers through their relentless focus on product quality. All products are extensively tested to make sure that they can withstand wear and tear, and that there are no imperfections. The company has blended mechanisation and handmade craftsmanship into their products, boosting their productivity, maintaining that high level of product quality, whilst still holding onto the allure of handmade quality. All Louis Vuitton products contain the eponymous LV initials and many of the products use the brown Damier and Monogram Canvas materials, which were first used by the company in the 80’s. The company markets its products through its own stores, which allows it to control quality and pricing. In maintaining the prestige image of the Louis Vuitton brand, the company operates a pricing integrity strategy amongst its entire distribution network; a Louis Vuitton bag is never reduced in price and there are no sale periods. The company offers customised products such as personal engraving on hand luggage pieces, boosting its appeal further. Furthermore, the company sponsors elite sporting events such as yachting and motorsport events. This is in effort to match the audience of sponsorship property with the target audience of the brand itself. Like other premium brands, such as Gucci, Louis Vuitton has also turned to the use of celebrity’s to market the brand, with the likes of Madonna, Jennifer Lopez and Gisele Bundchen featuring in advertising campaigns. Over recent years, the brand has tried to modernise its image by utilising the talents of young designers and artists to rejuvenate the image of some of their products, whilst maintaining the classic designs. An example of this was the use of designer Marc Jacobs who created a limited edition handbag range with featured graffiti over the monogram pattern in 2001. Other limited editions patterns created by designers for the brand include the Monogram Multicolore range and the Cherry Blossom Range, which were only made available to VIP customers, further enhancing the exclusivity of the brand. Hermes, a key rival of Louis Vuitton, create even greater exclusivity by having a three-year waiting list before one of their bags can be obtained. These bags are handcrafted, adding to their appeal even further. The reinvention and rejuvenation of Louis Vuitton in more recent years has assisted the brand in attracting a younger target audience, thereby increasing customer base. However no one designer has eclipsed the powerful brand image of Louis Vuitton itself, unlike other design brands. Vertu Vertu is a unique luxury brand specialising in top of the range, deluxe mobile phones. Established in 2000, the Vertu brand was a big gamble for Nokia, its parent company, to take. Nokia, previously the world’s most successful mobile phone manufacturer, developed this new brand as a way of creating an exclusive luxury brand in mobile telephony. However, Nokia does not publicise the linkage between Nokia and Vertu and therefore does not gain from any brand linkages or associations. In essence, their products are jewellery-like mobile telephones. Vertu headquarters are located in the United Kingdom with several offices situated worldwide including: Paris, New York, Hong Kong and Singapore. As a new entrant to  the market, Vertu’s main focus was on creating product awareness among the elite and to create a brand that is exclusive and luxurious. Vertu utilises craftsmanship, precision engineering, high-end technology and a unique personal service dimension to create a dis tinctive luxury brand. Vertu’s concept is to make mobile phones in the same vein as prestigious watch brands such as Rolex and Patek Philippe. Mobile phones typically retail for around  £100  £400 pounds, however Vertu is aimed at the top end of the market, those who can afford to spend thousands on a mobile phone. For example, the most expensive model ever made by the brand is the Signature Cobra, which retailed at a massive â‚ ¬217,000! The most expensive ‘regular’ model made by Vertu is the Signature Diamond, at a more affordable â‚ ¬62,000. These phones are typically made using precious metals like gold, silver or platinum along with fine Italian leather for better grip and have jewelled bearings. When people buy a Vertu they are buying a badge of exclusivity, luxury and uniqueness. It was believed that if watches, pens or even wallets can be transformed into luxury brands, then why not a mobile phone. With mobile phone penetration constantly on the increase and having surpassed 100% in Europe alone, phone manufacturers need new strategies to get people to buy newer phones. Newer technology was a prime motivator in consumers buying a new phone. Vertu have taken a different approach; they want their phones to be status symbols. For a technology product, this is a first, as products lose their value very quickly, with constant technological advances offering new and improved product features. Rather than launch their new product range at technology shows, which is the industry norm, Vertu instead prefers to become associated with fashion shows, launching for example their new range during Paris fashion week. Thus this brand is aiming to create a fashion brand rather than a technology brand, in an attempt to woo people through its fashion status. A big selling point associated with these phones is the Vertu Concierge Service. Vertu Concierge provides specialised travel assistance, allowing users to access and reserve restaurants, hotels, concert tickets and much  more. Having a Vertu mobile phone allows users to access this exclusive concierge service, 24 hours a day from anywhere in the world, where they will try to assist the every whim of the user. This service is free for the first year, but you have to pay a subsequent subscription of  £500 per annum to use the service. Vertu also offers a customisation service thus truly differentiating itself and allowing the firm to earn even higher margins. Also the company offers free upgradability when new technology emerges. The company has established flagship stores in exclusive shopping districts, so that it was close to other exclusive brands, thus benefiting from a halo effect. Vertu has developed a unique buying experience by creating a â€Å"gallery-like† feel to its retail environments. In order to create this new level of luxury to mobile communication retailing, Vertu focused an enormous amount of attention onto store layout. Each display case is made from architectural glass, limestone textures and floors combined with warm lighting, ultimately enhancing the ambience of the store. Minimalist design was used in order to create the illusion of space. In keeping with the element of exclusivity, original artworks were commissioned and exhibited throughout the stores. Selections of short films are also projected in-store. By offering a first class personal service combined with extensive product knowledge, Vertu has enhanced their image of reliability and expertise. Vertu announced the opening of its flagship stores in Paris and Singapore in October 2002. It has since opened new channels of distribution, with over 600 retail outlets worldwide and 400 employees and it intends to continue to build on this. Along with their stores in Paris and Singapore, Vertu has Client Suites in London, New York, Hong Kong and Singapore and also has points of sale located in some of the world’s leading department stores and fine jewellers. The company were extremely selective when choosing suitable retail channels. They sought department stores that catered for an international client base, and who target very affluent shoppers. Stores must have a global reputation of offering quality and luxury across all product ranges and whose philosophy of high product knowledge and excellent personal service are consistent with that of Vertu’s. For example, Vertu entered into a partnership with a renowned Hong Kong jeweller, King Fook  Jewellery. The introduction of these new speciality stores has made the Vertu range of phones more accessible to its exclusive client base in Hong Kong. As a direct result of this new partnership, Vertu’s Signature Collection is now available in a range of precious metals, such as gold and platinum. To date the company has entered into a number of joint ventures such as Vertu and Goldsmiths located at Harrods in London, Trafford Centre in Manchester, and Bluewater, Kent. This partnership was established to gain greater market share in the UK marketplace. Vertu phones are also available to purchase through their website. With the aid of this distribution channel, customers can now personalise their mobile phone to their own individual tastes Conclusion In order to retain product exclusivity it is clear that you need to provide an excellent product and exceptional service experience, as this creates an emotional attachment between the customer and the brand. Gucci, Louis Vuitton and Vertu have made this experience possible through their distinct products and services, their prestigious pricing (thus indicating their superb quality), their exclusive retail environment and their selective channels of distribution. Maintaining that fashion status and aura of exclusivity is of primary concern to these exclusive luxury brands. For example, the fashion brand Burberry has now become synonymous with the infamous â€Å"chav† subculture in Britain. This once fashion icon brand of the country elite has now be adopted as the brand of choice for thousands of working class Britons, devaluing the brand amongst the fashion elite. The emergence of the so-called â€Å"chav† subculture has garnered the Burberry brand unwanted press coverage. The Ben Sherman brand also fought hard to overcome its association with ‘yob’ culture; similarly Doc Martins were associated with skinheads. By extending their brands to items such as baseball caps, perfumes etc. it can diminish the exclusiveness of a label, sacrificing the brand equity for increased revenue. It is evident that Gucci, Louis Vuitton and Vertu use different promotional  strategies. For instance, Gucci incorporates controversial issues into their marketing strategy to promote brand imagery, Louis Vuitton utilises celebrity endorsements, whereas Vertu concentrates on the benefits and quality of product features. However, all brands are consistent when it comes to retail environment and channels of distribution. The store design and layout plays a crucial role in creating an image of exclusivity to appeal to the high-end market. It is essential to have alignment of the prospective target market expectations of a store offering and the identity that the brand wants to communicate. Companies targeting the high-end market must create the illusion of exclusivity, while generating a seductive atmosphere, appealing to the senses. Once blended together, these elements will help form a pleasurable and distinctive experience that will differentiate your product line from that of your competitors. Gucci, Louis Vuitton and Vertu use exclusive channels of distribution to ensure greater control. This control enables them to exercise greater flexibility on their product ranges and the ability to adjust to the changing market efficiently. This adds to the image of exclusivity and quality of the products. Therefore it can be concluded that in order for a product to develop and retain its exclusivity, marketers must create an overall experience that appeals to and attracts the high-end market.