A local Cheltenham restaurant would like to attract more customers and would like to do some research into what would appeal to people. The restaurant has approached you as a Marketing Consultant for advice on the best way to collect this information. Write a report on the advantages and disadvantages of different primary marketing research methods and suggest which method(s) the restaurant should use.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Export Strategies for Nigerian Halal Market the topic proposal for your presentation is “Export policies for Nigerian Halal Market. Some inputs for your guidance and please kindly add-on the current trends of the local Halal industry (Nigeria).
Title: Export plans for Nigerian Halal Market
Ÿ Background of Local Halal Market
– Deepen knowledge & understanding of the
Export Strategies for Nigerian Halal Market
Muslim market
Ÿ Local Guidelines on Halal Standards (Food & Beverage, Cosmetics, Pharmaceuticals, Lifestyle etc)
– Local Authority & Halal certification process
Ÿ Strategies Considerations
– The potential purchasing power of Muslim population
Why do you think Warren Buffett said the company’s book value is a less helpful metric than it used to be?
* WSJ 11/05/2018 the article contributed by Nicole Friedman, Questions reviewed by Steven P. Rich, Baylor University
Warren Buffett’s Berkshire Hathaway Repurchases More Than $900 Million of Stock
Warren Buffett Berkshire Hathaway Repurchases
Berkshire Hathaway Inc. BRK.B 0.57% repurchased $928 million of its stock in the third quarter, a rare move that indicates Chairman Warren Buffett sees a dearth of appealing investment options for his company as large cash pile.
It is the first time Berkshire has bought back stock since 2012. The decision, announced in a quarterly filing Saturday, illustrates the scarcity of attractively priced projects and deals that can satiate yield-hungry investors and firms more than nine years into a bull market.
A legendary value investor best known for striking deals when prices are low; Mr. Buffett has struggled to find large investments that aren’t overvalued. Berkshire hasn’t made a major acquisition since it bought Precision Castparts Corp. for about $32 billion in 2016.
Mr. Buffett, whose moves are widely watched for what they could mean to broader markets, is the latest to join in the buyback boom: Stock repurchases by S&P 500 companies hit a record in the second quarter, according to S&P Global Market Intelligence.
Warren Buffett Berkshire Hathaway Repurchases
Berkshire has made small acquisitions in the past two years and poured billions of dollars into buying a stake in Apple Inc. But the company’s many businesses, such as Duracell, Geico and BNSF Railway, have continued to generate cash at a fast pace.
The decision to repurchase shares came before stocks slumped in October, hit by concerns over interest rates and slowing growth among technology companies. Ahead of the October swoon, the stock market was near record highs, propelled by the tax overhaul passed last year.
Last week, stock indexes rebounded slightly from their October declines, with the S&P 500 up 2.4%, its best weekly performance since March.
what the buybacks signal, in a very big way, is that [Mr. Buffett’s] short list of putting prospective billions to work, either in private businesses or equities, outside of Apple, are nil, I said David Rolfe, chief investment officer of Wedgewood Partners Inc. in St. Louis, which owns Berkshire shares.
Warren Buffett Berkshire Hathaway Repurchases
Though Berkshires’ buybacks were small relative to its balance sheet, they represent a shift in the company’s willingness to return cash to investors. In 2012, Berkshire bought back about $1.3 billion in stock, mostly from one longtime shareholder.
Mr. Buffett has long argued that he could better increase shareholder value through investments than through buybacks or dividends. But pressure to buy back more stock has mounted in recent years as Berkshires’ cash pile has grown.
The Omaha, Neb., conglomerate held $103.6 billion in cash at the end of September, down from $111 billion at midyear, the company said Saturday.
ìI wish they’d bought back a little bit more, I said James Shanahan, senior equity-research analyst at Edward Jones. it would appear that their stock is as good, or perhaps better, an investment than anything that’s available for them in the market to buy
U.S. companies are buying back record amounts of stock this year following the tax-law overhaul.
Berkshire said Saturday that its third-quarter net earnings soared, boosted by unrealized gains in its equity investments. Berkshire reported net earnings of $18.54 billion, or $11,280 per class A share equivalent, from $4.07 billion, or $2,473 a share, in the year-earlier period.
Warren Buffett Berkshire Hathaway Repurchases
Berkshires’ earnings are volatile due to an accounting rule that went into effect this year requiring companies to include unrealized investment gains or losses in their net income. Quarterly changes in the value of Berkshires’ stock investments can have a big effect on its net income.
Operating earnings, which exclude some investment results, rose to $6.88 billion from $3.44 billion in the year prior. Mr. Buffett has said operating earnings are more reflective of Berkshires’ performance.
Mr. Buffett, 88 years old, has grown Berkshire over more than 50 years from a New England textiles business into a massive conglomerate that sells candy, car insurance, encyclopedias and diamonds, among other products. Mr. Buffett acts as chief executive and oversees most of the company’s investments. But a younger generation of executives handles many of the company’s day-to-day operations. Mr. Buffett’s eventual successor as chief executive hasn’t been announced, but it is expected to be either Ajit Jain or Greg Abel, both of whom are vice chairmen of the company.
Warren Buffett Berkshire Hathaway Repurchases
Berkshire changed its buyback policy in July. Previously the company could repurchase shares if the stock price was below 120% of book value. Under the new policy, Berkshire can buy back shares if Mr. Buffett and his business partner Charlie Munger believe that the stock price is below Berkshires’ intrinsic value.
Messrs. Buffett and Munger don’t tell shareholders their estimate of Berkshires’ intrinsic value. Mr. Buffett has said the company’s book value is a less helpful metric than it used to be because Berkshire has shifted its focus toward operating businesses rather than stock investments.
Mr. Buffett said on CNBC in August that Berkshire had bought back some shares at what we know is a price where the continuing shareholders are going to be better off because we bought it.
Berkshire bought back shares at an average price of $312,806.74 per A share and $207.09 per B share. The company’s shares traded below those levels in recent weeks, though Berkshire isnít expected to report any fourth-quarter share repurchases until next year. Mr. Buffett has cautioned shareholders in the past that there is no price at which he would definitely repurchase shares.
Warren Buffett Berkshire Hathaway Repurchases
Buybacks can be controversial, as critics have said the cash spent on repurchases can be better used on capital expenses or employee wages.
Mr. Buffett defended buybacks in his 2016 letter to shareholders. Buybacks are a plus for long-term shareholders as long as a company’s shares are undervalued, he said. The question of whether a repurchase action is value-enhancing or value-destroying for continuing shareholders is entirely purchase-price dependent, I he said.
Book value rose to $228,712 a Class A equivalent share as of Sept. 30, an 8% increase for the first nine months of the year. Last year, Berkshire reported a 8.9% increase in book value for the comparable nine-month period.
Class A shares closed Friday at $308,411, up 3.6% for the year.
In recent months, Berkshire has invested about $600 million two big financial-technology companies focused on emerging markets. The deals were led by Todd Combs, one of Berkshireís two portfolio managers.
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In-text citations and a list of references are mandatory. The paper length requirement is at least 10 pages, double-spaced, and follow APA Guidelines. Reminder, the cover page and reference list is not included in the page count.
Your Marketing Plan should include the following and follow the suggested timeline:
I. Environmental Analysis – Week #1 – An Environmental Analysis of your company’s industry:
Include what is currently going on in each of the external environmental forces (Economic, Political/Legal, etc.) as it relates to your company?
The company’s current mission and vision statements
Current marketing objectives and performance
II. SWOT Analysis – Week #2
III. Marketing Strategies – Week #3 – Your analysis of existing Marketing Strategies and recommendation for improvement in those strategies:
Target Market
Marketing Mix (4 P’s)
Market Research & Planning
IV. Media/Promotional Plan – Week #4 – (newspaper ads, billboards, social networking,
online, television, radio, etc.)
V. Public Relations Plan – Week #4 (any free advertising available)
VI. Recommendation & Implementation – Week #5 – Your recommendation for implementation control of the Marketing Plan strategies and tactics.
*Important note: you must defend your recommendations. Don’t just tell me that you think that they should do something; you must persuade me that this is the best approach. If you are working on the company that you currently work for, make sure you improve on their current approach. Just repeating what they are doing is not particularly helpful.
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The owner of a new animal training school, which uses a special new technique and claims to be able to teach dogs to read, contacts your advertising agency.
The short-term goal of the new training school is to expand from its small premises on the outskirts of Brisbane to a nationally recognised company with many schools in all the major cities and large provincial towns.
The long-term goal of the school is to expand, over a 10 year period, from its base in Australia into America.
Describe in report form how you would put together a team to:
conduct market research
develop product knowledge
examine the situation including previous marketing activities and decide on a plan of action
Clearly describe the goals that you have set
how you would allocate roles and responsibilities to individual members of your team
what resources will you require (including team members)
set realistic timelines for your campaign
describe how you will obtain budget figures and relate actual costs to the budget
compile and attach an agenda for the inaugural team meeting
outline promotional activities that should be planned and some advertising methods that could be used but may not be appropriate
detail why, in your opinion, they would not be appropriate
describe how you intend to set up relationships with relevant groups and what groups would be targeted
what networks will be used to assist in the promotion
Advertising and Marketing Communications Progress Report the Two Questions are A) You MUST also include a description of the justification for this new direction ñ why does it make business sense for this company to go in this new direction
Advertising and Marketing Communications Progress
B) This part of the deliverable must include a specific report on decisions you’ve made in terms of your target market initial Description Paper ñ Ray-Ban Prescription Glasses
Advertising and Marketing Communications Progress Reason for Selection
When selecting Ray-Banís prescription glasses, specifically with the blue light filter, our group began with individualís interests. After comparing interests, we created a short list of potential markets to serve which included gamers. Thinking of products we had seen recently, Colson mentioned the idea of marketing blue light filtering Ray-Bans to gamers and office workers. After we came up with this, we looked into their parent company which google reported as Luxottica, a company based in Milan, Italy. Because it is publicly traded, we were also able to find financial statements for the parent company. Beyond this, our group has some knowledge of other providers of this product and the ways they advertise, offering us a decent starting point.
Advertising and Marketing Communications Progress and Detailed Description of Product
Ray-Bans prescription lenses come in a variety of types and styles. If one clicks on the ëcustomizeí button, you can select between the style, frame, lenses, temple tips (the bit behind your ears), size and engraving. The basic aviator it started our group on ran $193. Their products are subdivided into eyeglasses and sunglasses, and then further into menís and womenís styles. You can select the blue light filter on either and it will become available going forward from April. The prices on Ray-Ban products is high, reflecting their branding, the eyeglasses on their front page run from $140 to $178. This product is sold online (where a shopper can provide their prescription and receive the product 5 business days later), at LensCrafters, a fellow subsidiary of Luxottica, and at outlets like Sunglass Hut.
Advertising and Marketing Communications Progress and Ray-Ban Company Overview
Ray-Ban is a very large international company and has recently opened a new retail offering in China, centering on a brand experience for customers. As part of the Luxottica family of visual products, they have manufacturing centers in China, Northeastern Italy, and Brazil and have specific campaigns for Ray-Ban in those nations. Ray-Ban is also directly mentioned in the Luxottica financials as having direct global deliveries to its clients. In their financial statements, Luxottica also identifies Ray-Ban as ìone of the worldís leading eyewear brandsî and discusses the crystal lens technology that helps give Ray-Ban a competitive advantage.
Advertising and Marketing Communications Progress Advantages as part of Luxottica:
They also benefit from the growth of Luxotticaís other products, including Oakley, a sports sunglass provider, and EyeMed, which provides vision care. With the 2012 acquisition of Lens Crafters, Luxottica also positioned Ray-Ban very well in the eye-glasses space. This growth in all sectors of Luxotticaís business paired with the strength and recognizability of Ray-Banís brand lead Ray-Ban to account for approximately 27% of Luxotticaís sales. This puts the sales of Ray-Ban globally at about $1.7 billion (taking Luxotticaís gross profit, figuring 27%, and then converting Euros to USD).
How successful has the company been in terms of marketing metrics?
Ray ban is a classic brand that has evolved over decades, it was first introduced in 1937 and its main purpose was to make it easier for the pilot to fly and it protected their eyes from harmful UV rays. Now its market is targeted to the youth, celebrities, adults and they have varying designs that suit any outfit. Ray ban has positioned itself in the market in a solid way and it competes with the other expensive brands, The two main marketing strategies Ray Ban uses are ì to have an impact on the audience based on their motivational factors, and to use the history of the brand to build its current imageî. The brands fit in a budget as well as a luxurious market, and the brand has a consistent loyalty it carries with its products as consumers continue to purchase their sunglasses.
Advertising and Marketing Communications Progress New IMC Direction
Discussion of Brand and Target:
Ray-Banís brand, as defined by their parent company, is ìTimeless style, authenticity, and freedom of expression.î In addition, our group perceives Ray-Ban as high quality, expensive, and expressive of an outdoors lifestyle (which matches the Ray-Ban origins with Aviators). We are planning to take the Ray-Ban brand into the direction of office workers, who operate in a location that is often viewed as diametrically opposed to freedom of expression, reflected in company dress codes and the like. Because of this, our campaign will focus on the ìTimeless Styleî section of their brand promise, bringing in ìAuthenticityî if we need to.
Reason for New Target Market:
Office workers represent a significant chance for growth, with higher incomes than blue-collar workers and a tendency to feel some need to express themselves. In addition, office workers are spending more and more time in front of screens. According to a study by AcuVue and published in CBS Boston, this amounts to 1,700 hours, about 2 full months, in front of a computer for the average worker. Add in video games, phones, television, and the like and this number increases. So there is a need in the office worker segment for lenses that filter blue light out to reduce eye strain.
According to the Bureau of Labor Statistics the median wage for a US worker in the 4th quarter of 2017 was about $900 a week (which is about $45,000 a year). At $150 a pair, these Ray-Ban glasses are expensive, but not outside the reach of most workerís wallets. GlassesUSA has on their website glasses that are more reasonable in the $89 range. However, at $150 Ray-Ban is still priced within the affordable range, and we believe that the brandís value to consumers will easily cover the difference.
Having found the need and the ability to fulfill it, we took one last step to ensure the market size. In the United States alone, some 156.69 million people were employed full time in 2018. Assuming that only 10% of these people buy, thatís a single-country market of fifteen (15) million individuals. Given Ray-Bans recent expansion into China and existing marketing in other foreign markets, there is clearly a market.
Advertising and Marketing Communications Progress Market/Industry Analysis
Market performance last 3 years:
Eyewear maker Luxottica, owner of Ray Bans has been dominating the market for the last three years and it reported a jump in its net profit by 12% raising it to a staggering 970 million euros (Business of Fashion). About 57% of the total sales come from the U.S alone, the eyewear industry is starting to grow among consumers and demand is rising and Ray Ban is set at an affordable price, remains to attract loyal and new consumers that demand new eyewear glasses. Adjusting to the consumer’s needs and providing variety and styling gives it a major advantage over high-end competitors because it offers the same benefits but with the fraction of the price. Overall, the market has stagnated in recent years dropping from $1,811.8 million in 2016, and with no new market growth between 2017 and 2018 both years having a total revenue of approximately $1,796.7 million (IBISWorld).
Advertising and Marketing Communications Progress Market trends
Some new trends in this market focus on athletic purposes for new sunglasses products. For example, in Germany, a company ìrecently launched new innovative athletic sunglasses with additional features such as the heart rate monitoring and a stopwatch in the peripheral vision of the sunglassesî(Wood, 2018). More companies are selling sunglasses online instead of the conventional brick and mortor store to cut operational costs…
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Industrial Production from Large Firms with Market Power 1. ìMy main point may again be stressed.
Industrial Production from Large Firms with Market Power
Most industrial production comes from large firms which have extensive power in the market. They are oligopolies. So the finding in the textbooks is that the modern economy is mainly exploitive in the prices that it charges, wasteful and inefficient in the way it employs resources and challenging in its need for reform. Then from the same books comes the conclusion that the modern economy is generally satisfactory. Theoretical performance is bad but aggregate performance is good. To the person who insists on asking how this contradiction is resolved, the answer is that it is not. The theory of price-making under oligopoly leads to conclusions that cannot be reconciled with the results (i.e., the productivity gains) on which the theorists themselves agree. (Section 2, Chapter 16, ìPrices in the Planning Systemî)
Industrial Production from Large Firms with Market Power
Explain to a college graduate who has not taken introductory and intermediate microeconomic theory what Galbraith means in this paragraph. Paraphrase it in a way that explains each sentence but defines the terms and clarifies the argument. For instance, when he says ìmainly exploitive in the prices that it charges,î what does a micro theorist mean by ìexploitive?î What is the nature of waste? How do oligopolies set prices? Why is this considered bad for the economy? (3 pages)
Industrial Production from Large Firms with Market Power
Drawing liberally on the insight from Affluent Society as well as New Industrial State, explain why the contradiction that is referred to above is not generally reconciled. In other words, why would the public generally accept and defend an economic system that they admit is wasteful, inefficient, conducive to widening income inequality, and negligent in providing public goods? Support your answer with arguments from the texts. (3-4 pages)
From Affluent Society, you may wish to draw on ìThe Uncertain Reassurance,î ìThe American Mood,î îThe Paramount Position of Production,î and ìVested Interest in Outputî as well as from Galbraithís term, conventional wisdom.
From the New Industrial State, you may consider focusing on Chs. 6 ñ 19.
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Here is your chance to go a little deeper down the inbound marketing funnel. You’ll be building off of the strategy you completed last week.
Now it’s time to close your prospect and delight them in the process.
Do the following for this week’s assignment:
Write three follow up emails, 50 to 125 words. Each email should focus on moving the prospect closer to a sale.
Create a second content offer idea. Give us all the details of what this offer will entail.
What is the download?
What is the call to action? Include call to action headline and supportive text (two sentences.)
Explain how you plan to delight the buyer using social media
Expectations
Must be at least 500 words
Must be client ready, nicely formatted and formal in language.
It must be overtly clear you’ve used the information in the resources, reading and first day of class to form your analysis. If we don’t get the sense you understand the initial concepts we’ve taught your grade will be negatively affected.
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Please draw on your experiences and what you have observed to address the following questions and topics.
Choose a market for a good in your area that seems to be a perfectly competitive market. Perfect competition is useful in analyzing real-world markets, even though there are very few, if any, that match the characteristics of the perfect competition model. Answer the following questions to describe the market, and describe how competitive the market you have chosen is:
What good or service is provided in this market?
Who are the buyers and who are the sellers in the market?
Are there many sellers in the market?
Are there very many substitutes for the good or service?
If the store where you usually buy this item raised its prices, would you go to another store or switch products? Explain.
Do you think that this a competitive market? Explain.
Mkt
Customer relationship management (CRM) is the company’s strategy for managing their customer relationships. Relationship marketing means selling customer satisfaction with the company’s people and its brand as part of its product. Select a local company with which you have a relationship. Include the following in your discussion:
Describe your level of loyalty to the company. What about your experience with the company brings you back time and time again?
What specific strategies does the company use to retain loyal customers?
What value do you get from the relationship, and how does the company capture value from you in return?
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In order to complete this component of the Assessment Portfolio, students will form a group (min. 4 – max. 5 group members). All groups must be formed by week 3 (Term 2) in order to start working on the poster in advance which will give students better chances to successfully complete this assessment component. This assessment component requires students to demonstrate knowledge and understanding of the two main marketing concepts which are STP (Segmentation, Targeting and Positioning) and the marketing mix (4Ps).
Submission of this component takes place in two stages:
1) Week 10: Submission of the 2000-word written group coursework. Details are provided below.
2) Week 12: Poster presentation (15 mins. max). This poster must be based on the information provided in the students’ written report. During this exercise, students practice both creative skills and communication skills. Students must decide on the organisation structure of the poster. However, it must address the given task and relevant theoretical applications must be used.
The task for the poster/group coursework: Choose one of the following scenarios:
• Development and marketing of a new product where you have to assume that you own your own business or,
• Development and marketing of a new product for an existing organisation (e.g. a new product for Apple, Coca-Cola, Virgin Media, etc.)
Once, you as a group, have chosen one of these scenarios, you must include the following information in your group coursework:
Note: you have to complete this assessment component by using professional sources such as industry reports, books, journal articles and other reliable sources.
A. Background information (general information about the organisation, its mission, vision, values, main competitors and industry/market in which it operates). (approx.400 words)
B. Evaluation of the tactical decisions which need to be made across the marketing mix: (approx. 1200)
1. Product:
• Discuss proposition forms: key values, benefits and characteristics of the product. How can this new product be classified? What are the customer needs and wants which this product will satisfy?
• Apply STP. By using relevant theoretical concepts, explain how the market is divided and subdivided into different segments. Explain how to determine which of the segments will be targeted. Justify your choice and comment on the targeting approach. Clearly explain which consumer segment/s this product is targeting.
• Carefully consider branding decisions. Propose the brand name and key brand associations. Identify words which help you to define perceptions of the brand. Based on this information, draw a perceptual map for your brand and its main competitors. Evaluate core brand elements: promise, positioning and performance. How will this brand stand out from its competitors?
2. Price:
• Keeping in mind the concept of the product life-cycle, explain your pricing strategy. Use relevant theoretical concepts to justify your answer.
3. Promotion:
• Clarify all the marketing communications tools, media and messages that the company will use to communicate with its audience. Use relevant theoretical concepts to justify your answer.
4. Place:
• Discuss the most effective distribution channels for your product. Keep in mind that ‘the goal is to make sure products arrive in usable condition at designated place when needed’ (Lamb et al, 2015, p.27). Discuss relevant retailing strategies in order to justify your answer.
C. Summary (approx. 600)
• Explain briefly the main ideas around the new product. Comment on who the main customers of the product are. How is the proposed product/brand different from those of its competitors? What are the key communication and distribution channels?
Your report should have the following structure:
1) Front-page
2) Background information
3) Evaluation of Marketing Mix elements (including STP)
4) Summary
5) Reference list
6) Signed records of the group meetings and contributions (please use form in Appendix A)
Please use relevant subheading to guide the reader.
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