Barneys Marketing Plan - 1630 Words

BARNEYS MARKETING PLAN Executive summary Barneys is planning to extend the target market by embracing budget fashionistas as well as current target customers who are fashion connoisseurs with a high disposable income and cutting-edge taste. It is because, according to Spending Pulse, Sales of luxury goods fell 27.6% in December 2009 compared with December 2008 including credit cards and cash. The pullback in luxury spending due to the deteriorating economy brought about a sharp slowdown and a torrent of extraordinary markdowns last year. The competitors including Bergdorf Goodman, Saks Fifth Avenue, and Neiman Marcus have been saddled with excess inventories and double-digit sales decrease. In order to do extend target market, Barneys†¦show more content†¦The recent promotion was offering merchandise at a 75% discount last year. S.W.O.T. analysis žStrengths: Hip image of providing unique mix of established designers and new costumers Private labels allowing full control and high markups Co-op offering chances to draw budget fashionistas with its young, experimental, downtown feel merchandise Good store locations appealing to both tourists and locals žWeaknesses: Aggressive expansion strategy derived from the new owner’s desire to recoup the investment: this has greatly increased expenses for opening stores. Lack of leadership: The former president and chief executive, Howard Socol, resigned in 2008 July and hasn’t yet to be replaced. Taste level which is not widely accepted: with its cutting-edge image, Barneys has a narrower appeal and customer base than other luxury department stores. žOpportunities: Growing trends towards contemporary apparel and accessories: customers started to look for practical and wearable items in everyday life rather than expensive statement outfits. Continuing strong growth in online sales: according to the report from the Census Bureau of the US Department of Commerce, online purchases amount has increased by more than 9% to $34.61 billion in the second quarter of 2009 compared with the amount during the same period of 2008, and online sales of apparel has generated $26.6 billion.Show MoreRelatedBusiness Plan of Asian House Restaurant11688 Words   |  47 PagesBusiness/International Marketing Hongmei Zeng Business Plan of Asian House Restaurant Bachelor’s Thesis 2011 ABSTRACT KYMENLAAKSON AMMATTIKORKEAKOULU University of Applied Sciences International Business Hongmei Zeng Bachelor’s Thesis Supervisor January 2011 Key words Business Plan of Asian House Restaurant 45 pages + 3 pages of appendices Ulla Puustelli, Senior Lecturer business plan, restaurant, Asian House, marketing The purpose of the thesis was to make a practical plan for setting upRead MoreManual Of HND Marketing Planning Fina14769 Words   |  60 PagesHND Business- Unit Manual- Unit 14- Working with and Leading People UNIT MANUAL (STUDY GUIDE) Marketing Planning Unit 19 HND BUSINESS N E NELSON COLLEGE LONDON L S O N C O L L E G E Copy right Author Editor Version Nelson College London Alfred Mbeteh Nazim Uddin V1-August 2013 HND Business- Unit Manual- Unit 14- Working with and Leading People TABLE OF CONTENT Table of content ...........................................................................................................Read MoreThe Success Of A Company Tesla Garments Strategy1383 Words   |  6 Pageslevels beyond the wildest imaginations. The name is chosen to reflect the kind of heights the top leadership has set their eyes on. This is also good as a driving force for the management as well as staff as they all pursue the levels envisioned in this plan. The idea for this strategy came from a deep set need to grow market share and build brand equity as a driver for success. The strategy is based on three broad processes of the organization namely; (Wolfe, 2011) Sourcing processes, internal conversionRead MoreCoca Colas Strategic Business Plan: Analysis and Recommendations1327 Words   |  5 Pagesnecessitates organizations to formulate business strategies to enhance a competitive market advantages. The objective of this report is to investigate the strategic plan of Coca Cola in the business world, and recommend the plan that would increase the company sales and revenues. Coca Cola Strategic Plan To explore a strategic plan of an organization, there is a need to evaluate its current strategic position. The paper uses the SPACE and IE matrices to evaluate the strategic capability of CocaRead MoreDoes Sustainable Competitive Advantage Exists? Essay1502 Words   |  7 PagesSCA’s in order to highlight both short-term and long-term SCA through use of specific examples. A summary of key issues and findings will provide the basis for developing logical conclusions and implications for businesses. Findings In relation to marketing, â€Å"competition is the process by which independent sellers vie with each other for customers in a market† (Weitz, 1985) and due to all products and services having potential substitutes firms will constantly be confronted with competition while makingRead MoreEstablishment Of Japanese Football League2011 Words   |  9 Pagesstrategy is a key element and this will be main factor for J. League in the future for long term sustainability and further competitiveness. Again, Asian market has already dominated by European League especially premier league so that strategic marketing management is necessary to seek new market and gain competitive advantage. 3. Preliminary literature review There have been several researches to examine and analyse the strategies implemented by European professional sport clubs. Keller (1993)Read MoreThe Strategic Differences Of Sony And Samsung Electronics On Sustaining Competitive Advantages1477 Words   |  6 Pageskeep the pace of digital era not only caused by company’s strategies on technology, also by the marketing management. (Wiley, 2008) The deviation of strategy on these aspects could influence the competitive advantages significantly. â€Å"A firm has a competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors.† (Barney J., 1991) It is commonly divided into two categories: cost advantage and differential advantageRead MoreNichols Company Casae Study994 Words   |  4 Pagess appropriate forecasting technique, discuss the impact of aggregate planning, weigh NCO s various cost factors associated with carrying inventory, a nd make recommendations for improvement. Mr. Williams was approached by his Director of Marketing, Mr. Barney Thompson, and announced that they had lost a large order due to a backorder of tubing, which is used during their manufacturing process. This was not the first time that that Mr. Williams has heard bad news like this recently. NCO has hadRead MoreThe Resource-Based View (Rbv) of the Firm: a Framework for Determining Competitive Heterogeneity5876 Words   |  24 Pages Management decisions and strategic choices 13 RESOURCE-BASED VIEW FRAMEWORK-A CRITICAL REVIEW 14 Significance of the Resource-Based View to research and practice 14 Corporate Governance 15 Human Resource Management 15 Marketing 16 Strategic Analysis 16 Positioning 16 International Business 17 Problems and Weaknesses with the Resource-Based View 17 Terminology 17 Resource-Based procedure for strategy developmentRead MoreResource Based View1648 Words   |  7 Pagesinputs that are considered to be necessary for the implementation of a value-creating strategy. The RBV promotes a deep understanding of the firm’s resources so that the appropriate combination of resources will be chosen over others in strategic plans. For example, a low price strategy would include different resources than a strategy focused on offering high quality products or services. Thus, the RBV helps to identify the resource bundles that match the market for a given strategy and also identify

History of the Scanning Tunneling Microscope

The scanning tunneling microscope or STM is widely used in both industrial and fundamental research to obtain atomic scale images of metal surfaces. It provides a three-dimensional profile of the surface and provides useful information for characterizing surface roughness, observing surface defects and determining the size and conformation of molecules and aggregates.   Gerd Binnig and Heinrich Rohrer are the inventors of the scanning tunneling microscope (STM).  Invented in 1981, the device provided the first images of individual atoms on the surfaces of materials. Gerd Binning and  Heinrich Rohrer Binnig, along with colleague Rohrer, was awarded the Nobel Prize in physics in 1986 for his work in scanning tunneling microscopy. Born in Frankfurt, Germany in 1947, Dr. Binnig attended J.W. Goethe University in Frankfurt and received a bachelors degree in 1973 as well as a doctorate five years later in 1978. He joined a physics research group at IBMs Zurich Research Laboratory that same year. Dr. Binnig was assigned to IBMs Almaden Research Center in San Jose, California from 1985 to 1986 and was a visiting professor at nearby Stanford University from 1987 to 1988. He was appointed an IBM Fellow in 1987 and remains a research staff member at IBMs Zurich Research Laboratory.   Born in Buchs, Switzerland in 1933, Dr. Rohrer was educated at the Swiss Federal Institute of Technology in Zurich, where he received his bachelors degree in 1955 and his doctorate in 1960. After doing post-doctoral work at the Swiss Federal Institute and Rutgers University in the U.S., Dr. Rohrer joined IBMs newly formed Zurich Research Laboratory to study -- among other things -- Kondo materials and antiferromagnets. He then turned his attention to scanning tunneling microscopy. Dr. Rohrer was appointed an IBM Fellow in 1986 and was manager of the Physical Sciences Department at the Zurich Research Laboratory from 1986 to 1988. He retired from IBM in July 1997 and passed away on  May 16, 2013. Binnig and Rohrer were recognized for developing the powerful microscopy technique that  forms an image of individual atoms on a metal or semiconductor surface by scanning the tip of a needle over the surface at a height of only a few atomic diameters. They shared the award with German scientist Ernst Ruska, the  designer of the first electron microscope. Several  scanning microscopies use the scanning technology developed for the STM. Russell Young and the Topografiner A similar microscope called the Topografiner was invented by Russell Young and his  colleagues between 1965 and 1971 at the National Bureau of Standards, currently known as the National Institute of Standards and Technology.  This microscope works on the principle  that the left and right piezo drivers scan the tip over and slightly above the specimen surface. The center piezo is controlled by a servo system to maintain a constant voltage, which results in a consistent  vertical separation between the tip and the surface. An electron multiplier detects the tiny fraction of the tunneling current which is scattered by the specimen surface.

Depreciation Essay Free Essays

Depreciation Essay A method of accelerated depreciation, in which double the straight-line depreciation amount is taken the first year and then that same percentage, is applied to the un-depreciated amount in subsequent years is called double-declining-balance-method. Depreciation methods that provide a higher depreciation charge in the first year of an asset’s life and gradually decreasing charges in subsequent years are called â€Å"accelerated depreciation methods†. This may be a more realistic reflection of an asset’s actual expected benefit from the use of the asset, which many assets are most useful when they are new. We will write a custom essay sample on Depreciation Essay or any similar topic only for you Order Now One popular accelerated method is the double-declining-balance-method. Under this method the book value is multiplied by a fixed rate and is the most common rate which is use. When using the double-declining-balance-method the salvage value is not considered in determining the annual depreciation but the book value of the asset being depreciated is never brought below its salvage value, regardless of the method used. The process continues until the salvage value or the end of the asset’s useful life is reached. In the last year of depreciation a subtraction might be needed in order to prevent book value from falling below estimated scrap value. Since double-declining- balance depreciation does not always depreciate an asset fully by its end of life some methods also compute a straight-line depreciation each year and apply the greater of two. This has the effect of converting from declining-balance depreciation to the straight-line depreciation at a midpoint in the asset’s life. How to cite Depreciation Essay, Essay examples

Case Study Analysis Case Analysis Skills Activities

Questions: 1. Notwithstanding challenging business conditions in China, do you think Australian business needs to exit Europe and America and focus on Asia? Justify your answer. 2. How would you set about building relationships with Chinese counterparts in order to establish a business operation there? 3. Would it be better to invest in other Asian countries like India (with just as big a population)? 4. What are the best investment strategies for Australian companies in China given the above case? Answers: 1. The Chinese experience has given enough idea about how business should be done in these conditions. One needs to have lot of patience and cannot ignore the local way of doing business. Its almost a similar one in case of America and Europe where the over bearing green activists, rule against child labour and traces of chemicals makes a huge dent in the manner in which business is done in these Countries. All these barriers in form of guidelines actually slowed down a business activity in these two continents. Apart from the guideline barriers the other big factor is demand. Unlike Asia where the population plays a huge role in jacking up the demand, the European market is restrictive and can become stagnant after the initial round of euphoria. The Chinese and Indian business scenario is completely different. The demand is ever growing and a customer are much demanding and can choose the best from available options and hence is ideal for money for deal kind of objectives.Along with the huge demand and a growing economy the labour cost in China is lower than any of its counterpart in the west and hence manufacturing Industries can still mark their presence well in this region. 2. knowing the local norms and respecting them is the first step in building relationship with Chinese counterparts. Business operation is part and parcel of how the investors behaves with the local norms and culture as well as make use the available resource to learn, know and build a line of trust with people they deal directly and people beyond the direct interactions. These are essential to make the local feel safe, ownership and trying out attitude building (Christopher, 2000). The idea of being one with the general people is often considered as good step towards building confidence. These confidence building measures goes a long way in securing the customers attention and loyalty a well on a long run. 3. India like any other Asian Country again has lot of red taping and doing business is equally difficult. But the ever growing populations demand of products and service drives any new venture to sustain over a period of time. The new regime might well turn this red tapism into something of the past and make progress in all sectors to invite foreign investment. Unlike China, India policy is much more conducive as the democratic set up of the Country doesnt allow anything to be wished away and with a vibrant free press the scenario is much better than what China could offer. Within no time the investment scenario, policy making and overall market scenario might change and would be much more investment friendly. The burgeoning population and stable economic scenario along with the tendency to absorb economic shock therapy in form of new market oriented policies is something not seen anywhere else. People are resilient and Government policies are also considered to be moderate where every sector of market as well consumer is taken care of. On the long run doing business in India would be beneficial for every sector except for those segments where quick profit making is the sole criteria.Along with the free press which plays a big role in making Indian investment scenario much user friendly the ever increasing knowledge base and technical hands at offer is also going to be the positive point for future investment (Bloomfield, 2006). 4. The best investment strategies for Australian Companies in China given the above case would be to go innovative. The local requirement needs to be taken into consideration whenever any future investment is thought of. People in China are innovative in nature and are exceptional as far back engineering is concerned. Anything in manufacturing needs to be as innovative as the product itself would be. People have the knack of inviting anything which has local appeal and could be as innovative other Chinese products. But products which has local appeal and helps the economy and environment equally would succeed as in the case of Woods International. The best approach would be to go local and then expand in the ever increasing market. References: Bloomfield, P. (2006). The Challenging Business of Longà ¢Ã¢â€š ¬Ã‚ Term PublicPrivate Partnerships: Reflections on Local Experience.Public Administration Review,66(3), 400-411. Berger, A. N., Udell, G. F. (2002). Small business credit availability and relationship lending: The importance of bank organisational structure.The Economic Journal,112(477), F32-F53. Christopher, M. (2000). The agile supply chain: competing in volatile markets.Industrial marketing management,29(1), 37-44.