Micro Economics Report Essay Example | Topics and Well Written Essays - 2000 words

Micro Economics Report - Essay Example It can be said that the economic problem necessarily follows from the valuation of goods bought by the consumers. It again can be argued that the valuation of the consumers goods do not depend solely on the factors of production but also on the supply conditions of the factors of production. The problem cannot be solved is it can be shown that the knowledge were accrued only to a single mind. Instead economists need to show how interaction between persons who possess partial knowledge can lead to a solution. If it is assumed that all knowledge is given of a single mind then all important and significant things on the real world are disregarded. The explanation of the article Analysis made by Professor Schumpeter suggests that there are some problems with the approach used by some researchers which disregards some of the crucial phenomenon with which people have to deal with like unavoidable imperfection in common man’s knowledge as well as consequent requirements for a process by which knowledge is constantly communicated and acquired. It cannot be denied that the equilibrium analysis has some useful function which it can perform. The problem with which the author of the journal wants to deal with is of rational economic organization. Many of the points that the author has tried to discuss in the article revolves around the diverse paths of reasoning that have emerged unexpectedly. The author is of the opinion that that there exists current disputes between economic theory and economic policy. The dispute arises from the misconception about the nature of economic problem that accrues to the society. The reason for the emergence of misconception is the error prone transfer of the habits of thought to social phenomena that were developed with the view to deal with the phenomena of nature. The allocation of the available resources is regarded by the word planning. The economic activities can be treated to be as planning as in any society where many people c ollaborate it will be based upon knowledge which through some means must be conveyed to the planner. The crucial problem in explaining the economic process for any theory is the various means of communication on which people base their plans. The design of an efficient economic system is the finest method of utilizing the knowledge originally dispersed amongst all people. Hayek questions the argument of how to solve the rational economic order. The author began the article by wondering the possible ways of constructing an economic order. A problem would not arise if there is full transparency and information in the economy. But the author notes that there is no full transparency and information within the society. It is impossible to correctly justify the desires of the neighbours. The problem stated in the article is utilization of knowledge that is partially accrued by persons and they are devoid of gaining the full knowledge. All forms of economic activity which can either be dec entralized or centralized involve the term planning. According to Hayek, the system that will lead to optimum utilization of the available knowledge will depend on the expected situation where the knowledge is to be applied. Choosing the right expert is a complicated problem if someone is looking for the experts who might have the capability to use the knowledge. However Hayek

Magnetization on Voltage Using Metals and Semiconductors Lab Report

Magnetization on Voltage Using Metals and Semiconductors - Lab Report Example Analysis and DiscussionThe findings ontained from the measurements of the results of the experiment reveals a number of aspects and properties of Hall effect. For example, the results suggest that hall voltage linearly varies as a function of the magnetic field of the current carrier material. On the other hand, it was also observed that the Hall effect is the generation of voltage in the conductor, induced by the presence of magnetic field (Baumgartner, 2006,p.165) .Variation of Voltage with DistanceThe plot shown in Figure No 5 indicates variation of voltage with varying distance on the tester rig. The original value of voltage is 0.24 (without any magnetic effect). It can be observed that the voltage are effected significantly when the magnet is sufficiently close. For a distance of 20mm, the voltage value is 0.1 V which means that voltage dropped to only 20% of the original value. However, as the distance was increased, the voltage quickly regained its original value and tends to stabilize at 0.24 v when the slider is moved away. Statistical Properties of dataIn order to examine the statistical properties of the data, the mean and standard deviation of the two set of data is calculated and is shown in Table No 2. From the data, it can be observed that the two sets are fairly close to each other and there is not big difference. For most the data, the two values are exactly the same. Therefore, the experimental setup provides very precise data.

Research Proposal On Resource Management Environmental Sciences Essay

Research Proposal On Resource Management Environmental Sciences Essay Introduction: This is an individual components assignment with carried an individual presentation. This assignment is consists of a research proposals. A research proposal is written specification of an intended research. In order to, from the particular topic do the literature review, problem statement, methodology, project objective and results expectation. When do research on literature review as a researcher needed to find information through the scholarly journal, scholarly articles, books and scholarly conference. In the literature review, task is to make referencing as research proposals what others researcher has been done. Find the relevant particular issue, area of research, theory, description, summary and critical issue due to the particular topic. In research proposals, the next method is problem statement. At here, after accomplished the literature review part, to identifying the problem on others researcher has been done. Furthermore, also discuss the problem of project background, project background is provide the evidence ad facts to support the researcher case problem, describes clearly on the new idea problem. After completed the problem statement, the next step is methodology. Methodology is from researcher research design to identifying the justification or limitations on the product. At here, requirement explains the depth of investigation, content, sample size, geographical and theoretical coverage. The next method for research proposal is Project objective, project objective is listed out the objective of the research aim arising directly from the purpose of the study. In the project objective, also require to do the research questions and significance of the project. For explain objective for the research. The last step is results expectation. Before completed the research proposal, as a researcher require to do the results expectation on the idea. To do the analyze data, listed the method to used, require market or other relevant issues for assuming the results. In conclusion, a research proposal is combined with different research methods for accomplished the proposal. , all of this method is important information to support researcher on the research topic for avoid the plagiarisms. Due to the problem of global climate rapidly increasing, environmental damage and environmental pollution become more serious. And the natural resources minimizing, the important of renewable energy more be valued. More researcher are try to research the renewable energy for solving the natural resources minimizing problem. Researcher are founded various types of renewable energy for replacement the natural resources, the most common renewable energy is solar energy system. Solar energy system is collecting the sunlight into the solar panel and then to generate the electric power to supply the electricity. Next of renewable energy is the wave energy system, its assist with the wave energy to rotary the turbine generator and generate the electric power, normally are using by the country along with ocean. The next renewable energy is same concept with the wave energy system, there are also using the turbine rotary to generate the energy for supply the electric power, which is the wind energy power system. Turbine are designing as the fan blade, its normally build on open air environment. When the wind are blowing the turbine will be rotating and in the same time the turbine connect with a generator, the generator are generate the energy, therefore this is called as wind power energy system. Basically wind power energy system are building at high frequency wind area, because able to generate more energy, but due to the researcher do some relevant research it also suitable for build at normal frequency wind blow areas. Reason is renewable energy is an important resources for reducing the natural resource minimizing rapidly. In the end, introduce my research topic is the micro wind turbine generator renewable energy system on street light. Due to the street lamp already use the solar power system for replacing the natural power resources, but depending on some area are lack of sunlight, in order to solar street lamp are not suitable for build at the particular place. Designing a wind power system for street light is for backup the solar problem. It could be build in two renewable functions, which is the solar power system and wind power system, but my research topic is more concentrate on the wind power energy system. Literature Review: In literature review are require to explanation the overview of the research subject, separate the division of works under review into the categories. Make explanation of how each work is similar to and how it varies from the others. And at the end, conclusions as to which pieces are best considered in the argument, which are most convincing of the opinions and make the greatest contribution to understanding and development of the area of research. The process of assessing each piece, are consideration the four important sessions, which is provenance, objectivity, persuasiveness and value. Furthermore, also needed to identify the definition and the purpose due to the literature review may constitute an essential chapter of a thesis or dissertation, or also maybe a self contained review of writings on a subject. The requirement of research proposal is to references at least 10 of scholarly journals, scholarly articles, books or conference. From the relevant references, to identifying the fact data or others supporting evidence. And make the referencing citation for avoid to plagiarism. At first, the literature review is about the storage of fluctuating wind energy. An overview of the literature review is about the last 15 years the wind power energy becomes more and more important in Germany. The amount of total installed capacity of wind power generator was rapidly increasing in Germany, according the data collection from researchers, the average full load hours of the German wind generation is about 1600h/a and will increase 2010 to about 1960h/a based on the increasing off-shore wind parks in Germany(Dr Edwin,2007). From this data we get the knowledge about the wind power energy is getting more and more requirement in the global. The result is the increasing the amount requirement wind power energy, the reducing the environmental polluted. According the research paper, the Germany Energy Agency has been published the results, they target to reduce the Carbon Dioxide (CO2) emission from today 860 Mio t/a until 2012 to 846 Mio t/a. This development of installment is not only happened in Germany others Europe country also development this generator is extremely fast. Worldwide country also has growing fast for installment the wind power generators. They are still continuing investigate the research on Compressed air energy storage (CASE). Compressed air energy storage is operated system in different ways, which is the storage of low energy for peak load demand, use of not used base load energy, reserve the energy power and storage of fluctuating wind energy. In conclusion, they still investigate the problem of transmission system for transportation the power to long distance, and the change reserve and operation system. Next, the literature review is plan for the wind power device to make the best of earth wind energy. After overview the paper, for collecting the best of wind energy resources on the earth surface, researcher are plan for a new type of wind power device, it called as multiple wind wheel wind power device (MWD). The multiple wind wheel wind power device is composes steel tower, trusses, generator, long axis, wind turbine and wheel boxes. Its installed all this components to be the MWD. Multiple wind wheel wind power device operation function is capture the wind energy in high air, a wind turbine and its generator are installed at the top of a very high tower, that the wind energy below the wind turbine cannot be utilized (zhang and zhang, 2010). In conclusion, in the limitation area this multiple wind wheel wind power device is more valuable due to the same of capacity and more power to generate. Another literature review source is about the generating capacity adequacy associated with wind energy. After overview, utilization of renewable energy, such as the wind power energy is for electric power generation is being given serious consideration around the world due to the global environmental concern associated with conventional energy sources (Roy Billinton and Guang bai, 2004). Researcher has presented a methodology for capacity adequacy associated with wind energy, comparing the two types of systems which are containing both conventional generation system and wind energy conversion system (WECS). From the simulation, the studies have shown that the wind energy conversion system is more reliability performance generation system. Due to the benefits of the capacity can be assigned to a wind energy conversion system is highly dependent on the wind. In conclusion the paper is making the studies on the wind energy conversion system; focus on the ability to quantify. And able to given reliability contribution in at a site with a high mean wind speed. Furthermore, literature review source is about the combining the wind power generation system with energy storage equipments. Overview the paper, this paper is about a group of Taiwan researcher to make some studies on the wind power energy. A wind power is a source of renewable power which comes from air current flowing across the earths surface (Lu. et al. 2008). According the research data, the average annual growth rate of more than 26% since 1990, the wind power energy is the fastest rapid growth energy source in the world. The wind power energy storage equipment also role as important, it approach to make wind power more reliable sources on capacity and energy. This storage devices also as application for reducing the output variation during the gust wind is also studied. In conclusion, the wind power and energy storage equipment is operation the system generation. The benefits of energy storage devices to mitigate the fluctuations during wind gust are also been discussed. The next literature review is reliability evaluation of generating systems containing wind power and energy storage. This is another group researcher to make studies on energy storage and wind power generating system. Wind power generation in electric power systems will increase considerably thought out the world in the near future, many countries have implemented or are in the process of implementing policies to promote renewable energy(Hu. et al., 2009). For wind power energy, is a faster growing source in many types of renewable source. To maintain the system more stability, the wind energy dispatch is usually restricted and energy storage is considered to smooth out the fluctuation and improve supply continuity. Researchers also investigate the wind energy conversion system (WECS) and energy storage, technique of Monte Carlo simulation (MCS) also for the reliability evaluation of generating system. In order to, researcher also make studies on the wind power to a small test system which is called as Roy Billiton test system (RBTS). The results also recorded from the wind penetration level, energy storage capacity and energy storage operating constraints. In conclusion, this research paper is making the comparison of three different operating strategies for benefits and advantages on energy storage. The following of Literature review is an introduction of wind conversion. In this Although the wind is not very reliable as a source of power from day to day, it is a reliable source of energy year by year , and the main role for future wind energy system will be operating in parallel with electricity grid system(Musgrove.P.J,1983). The paper has make studies on the wind turbine characteristics, the wind energy resource and economics. Due to the wind turbine system from begin is founded from middle east country, through some moment the wind turbine system is widespread to worldwide, at first , the Mediterranean was adapt the wind turbine system , after the period of time, its spread to Europe and worldwide country. And nowadays, the wind turbine system is very important of renewable energy for this century. In conclusion, wind turbine system is rapidly be installment at worldwide, the requirement of the design and operating function also needed to make improvement. The average wind s peed, and hence the wind power density is also subject to consideration geographic variation. The 7th of literature review is design of wind turbine energy system. This research paper is studies about the designing the actually shape for the suitable area. Air flowing is called the wind, because of sun, the wind always exists, the wind energy is from the sun, it is a renewable energy resource (Fang, 2010). In this paper, the researchers is investigate the air flowing in the whole earth is like a boiler. The air becomes light in the equator, and be heavy in the two poles. The air wind flows day and night. Researcher due to the data collection, the different of temperature, the different season, and different or areas the speed of wind is different. Therefore, when design a wind turbine energy system, must be consideration the mass air flows, materials of turbine all is important issues. In conclusion, the paper is case studies of design of wind turbine energy system for suitable to convert to energy source. The next literature review also as no 8 literature review is wind energy and power system inertia. This research paper is case studies about the wind energy along with the power system. Wind is an abundant, clean, robust, and compelling resource for generating electricity. The low inertia of a wind dominant power system could be troublesome in power system operation. (Abreu and shahidehpour, 2006). In this paper presented the problem operation system which is the inertia is to combine wind energy with high inertia energy storage system, improvement technology system in the flywheel energy storage (FES). Flywheel energy storage by using kinetics energy as storage, the FES technology might offers high steady inertia and good efficiency which improve the power quality. Due to no individual power plant is totally reliable and a wind farm alone may not be at the desirable reliability levels, a wind farm might no schedule to supply a certain amount of load. In conclusion, this research top ic has been discussing issues on environment, modular benefits and importance. If without the financial issue, they flywheel energy storage system is a good combination for wind turbine generator. The 9th literature review is the A novel wind energy system. This research paper is case studies also about the wind energy system. Power generation utilizing wind energy has received greater attention in countries all over the world due to rapid depletion of fossil energy resources (Chan and Lai, 2009). In this research paper, have done the case studies on few wind energy system, for example an axial-flux permanent-magnet synchronous generator (AFPMSG) is directly coupled to a vertical axis wind turbine (VAWT). Axial-flux permanent-magnet synchronous generator is studied using a two dimensional finite element method and analytical methods. Vertical axis wind turbine for use in urban regions are close to domestic premises, hence quiet operation is an important system. In conclusion, the paper is discussing the wind energy system suitable for the urban environment. The axial-flux permanent-magnet synchronous generators have it benefits and advantages. Next of the literature review is the supervisory predictive control of standalone wind/solar energy generation systems. This research paper is making the case studies on the development of a supervisory model predictive control methods for the optimal management and operation of hybrid standalone wind-solar energy generation systems. drivers for solar or wind renewable energy systems are the environmental benefits due to reduction the carbon emissions, reduced investment risk, fuel diversification, and energy autonomy(Qi.et al,2011). According the renewable energy, the solar energy also is an important research for renewable energy. Some energy generate system is work the two renewable energy together as power energy. Solar system is absorb the sunlight to heat the solar panel, and then to generate the energy. Therefore, the design benefits for some country, because its able to generating the energy in two ways. In conclusion, this paper has studies the development if a supervisory p redictive control method for the optima management and operation of hybrid wind solar energy generation systems. The last of literature review is the grid voltage support by mean of a small wind turbine system. This research paper is making the case studies on the small wind turbine system (WTS) improved with voltage compensation functionality. At here, the important part is the voltage controlled inverter. As the wind capacity increases, grid utility operators have to ensure that consumer power quality is not compromised. To enable a large scale application of the wind energy without compromising the power system stability, the turbine should stay connected and contribute to the grid in case of a disturbance such as voltage dip(Orlando. et al,2008). The wind turbine system used a permanent magnet generator as the main system for operation. The permanent magnet generator is control to maximize the power output and achieve a smooth torque and power profile. In the conclusion, the paper has studies the new wind turbine system should contribute to the regulation of active and reactive power and th ereby contribute to the voltage control. Problem Statement and Proposed contents: Problem statement: According the literature review has been done in previous research data collection. Researcher base on the literature review research to identifying the problem statement. The problem statement is the wind power storage energy system. Need to find out the solution to ensure the electricity collect from turbine generator has been storage in the system. The next problem statement is total amount of wind energy collected by the wind turbine system. Therefore researcher must to find the solving method to complete the problem of wind energy collected. Transmission system of the wind turbine also needs to identify, for guarantee the process to transmit the electric power to generate the light with a stable. Problem background: Project background is from the research topic to build up the case. From the problem statement, applying the concept or methods founded from the literature review for solving the problem. All the information needs explanation clearly due to significance for allow reader understanding easily. Using the Monte Carlo simulation, in short (MCS) for collecting the data. A research projects on micro wind turbine generator street lamp renewable energy is consideration many sectors. Due to the problem statement been listed, if want to build the micro wind turbine generator street lamp on urban must consideration the wind energy collected system. In the urban, it consists of housing area, office building, highway road and Leisure Park. Different area are having the different rate of air flowing. Therefore, the wind energy collected system is requiring finding the solution method, ensuring the wind turbine system able to collect the energy. Based on the literature review, have been collect 3 methods to solve the problem. Firstly, is about the multiple wind wheel wind power device, in short (MWD). This method is designing the wind turbine system installed in vertically. The generator put in middle of the generator room. Steel tower must in circle type because it is the stationary axis the trusses turn around. When the air flowing, the multiple levels might be turn around and collect the wind. Other benefits for this is the require capacity is small. Therefore, this method is suitable to apply on the micro wind turbine street lamp. The next method for improving to collect the wind power energy is wind turbine generator, in short (WTG). This method is using the permanent magnet generator to generate the turbine rotating. When the air flowing is lower, the system will more generate to collect the wind energy. In order this method also can be apply on the micro wind turbine street lamp. The last method for improving to collect the wind power is the axial-flux permanent-magnet synchronous generators (AFPMSG). This method has an outer -rotor construction for convenient mounting to the turbine rotor structure. Its directly couple with vertical axis wind turbine. Based on this method solution, also can apply on the micro wind turbine street lamp. The next problem statement is the energy storage system. To build the micro turbine wind generator street lamp also requires to consideration the energy storage system. From the project design, the street lamp is a vertical aluminum tower. In base of tower must install the energy storage system for redundancy the system. Through the review on the literature review, has been collect 2 methods to improving the design. Firstly, is the wind energy conversion system, in short (WES). This system is make the collection wind energy into the system and generate out the more reliability of energy, when the system accepting the high amount of power it will keeping in the storage , and when needed the system will automated to release the energy to generate. The next method is the flywheel energy storage system, in short (FES). This also a method of storage the energy, it make through the high steady inertia system to generate, the kinetic energy will be storage. All energy storage system is to g enerate reliability energy to generate the system. The last problem statement is the transmission of the wind turbine power system. When the wind power was been collected at the generator, sometime needed to transfer the power to other location, therefore the transmission also important. Based on the literature review, the method been founded is the compressed air energy storage, in short (CASE). This also a type of storage system, but then it apply the transmission system for ensure the energy transferring in stable rate. In conclusion, the problem background solution has solved due the method from other researcher. Methodology: Research design and justification / limitations: In the methodology, must provide the scope of research, the scope of research is includes the depth of investigation, content, sample, size, geographical and theoretical coverage as well as the time scope. At this section needed to justification the applied research method. The research project is micro turbine wind energy generator street lamp. Application of street lamp is installment on the ground and providing the light intensive. The project is design almost similar with common street lamp, the only few part are different which is the top is consists of the wind turbine for generate the wind energy. And the bottom part consists of energy storage system for storage the energy. The tower of the project is using the aluminum as basic material, due to the market requirement able to change the material depend on needed. For the wind turbine also using aluminum as material because is avoid get rusty easily. The lamp of the project is using the light emitted diode (LED) the reason of choose LED as lamp because it save energy and good quality. Based on the calculation, the wind power street lamp is capable of producing around 150W of power when the wind were blowing and the street lamp save excess energy generated in a battery for using while without energy supply. Due to using the LED as lamp, that powers their high efficiency LED through the night. Since every location and project is different ,urban green energy is taking a components focused approach to the street lamp design the led light wind turbine , tower height and battery storage are all easily scaled to best fit a particular project. There are some advantages available of the project. Low cost for generate power; compare with normal energy resource wind power is the most low cost compare within. Other advantage is providing lightning of light during the midnight. The limitation is the street lamp needed to consideration the place to installment, the best location is near by the shore, because just near the sea. The air blow is higher. Project Aims and Objectives: Research objective: The objective of the research is the statements of the specific of main goal from the purpose of the research study. Due to the research objective, to make the identifying on the problem or question during the research. Firstly, determine the important of renewable energy in the worldwide, due to the reason of minimizing of natural resource. Secondly, to determine the wind power energy system is the process which through the wind flowing to make the rotary on the generator to generate the mechanical power or electricity. Amount collection of the electric power can convert to supply electricity power. Thirdly, analysis the ability of wind power to alternative the natural resources, wind is a natural environment source, it is inexhaustible source compare with the gases, fuel and metal materials all this natural resources. This phenomenon is facts; therefore its able to replacing the natural resources. Furthermore, the objective of the research is identifying the advantages of wind power generator, advantages of wind energy is a free renewable resource, a source of clean, non-polluting and electricity. Its also able to reducing the carbon emission. Next, of the objective is determine the amount of the energy in the wind be captured, according the case study, a wind turbine are horizontal axis variety, it installment at wind farm, when the air flowing, turbine might be turning and generate the electric current. And also identifying the wind turbine pose a safety hazard, die to the wind turbine do not use combustion to generate electricity in order to dont produce air emissions. Therefore the surface areas of the turbine are without any polluted, the health and safety attach as important. Objective of the research also include the analysis the potential on market requirement for the wind power generator, base on the minimizing of natural resource, definitely markets are requirement the wind power. Next objective is analysis the cost of wind power compare with conventional power plants, base on the wind power is free, the cost of generate energy might be low cost than others. Another objective is to identifying the amount of electricity power is generating by wind turbine generator. Last objective is to determine the stability of transmission of the storage energy source to generator, ensure the transmission process with balance. Research question: What is the important of renewable energy in the worldwide? What is wind power energy system? What is the ability of wind power to alternative the natural resources? What are the advantages of wind power generator? How much of the energy in the wind be captured? Do the wind turbines pose a safety hazard? What is the potential on market for this Wind Turbine Generator? What is the cost of wind power competitive with conventional power plants? A wind turbine generate able to generate how amount of electricity What is the stability of transmission the energy source to generator? Significance of this project: Base on the research from literature review and problem statement, and from the objective of research are research out the importance of the project. Significance of this project is able to minimizing the natural resource amount uses, avoiding the wasted of natural resource. Through the renewable resource also can cause environment be green reduce the polluted. According the earth hour organization, this organization will organize an occasion to encourage people switch light for 1 hour, if this research project has been produce , its may helping people apply the knowledge of important natural resource. This project also will cause the environmental more beautiful and clean. The urban will looks more elegant and fashion. The last reason is decreasing the carbon emission in earth atmosphere due to the global warming. Deliverables: Expected result: Based on the research, this research study has founded some relevant of research information from others researcher. Basically, according these few recent years, many of researchers are making study research on the renewable energy. Renewable energy is be valued by all researcher. Because the renewable energy resource having plenty of advantages and benefits. For example, is able minimizing the polluted of environmental, replacing the natural resources, due to global warming are getting more serious, renewable energy are able to minimizing the side affect on this. A micro wind turbine generator street lamp is a creative and invention design. According to the market, already available the solar panel street lamp, but the solar is only available for collect the energy from the sunlight. Mean during the midnight, the solar panel cant be collecting the energy. This is the disadvantage of the solar panel. On the other hand, a wind turbine street lamp having an advantages is the air flowing is available for anytime, no need to wait on day only able to function. Expectation of the result is this project is more organization want to supporting this project. Through the organization and media, spread the detail information to worldwide. And also governments are willing to plan to installment the wind turbine generator street lamp in their own city. Others expected result, have others researcher interesting this research project. And these researcher reinforcement more creativity idea and more advance idea for replacing. Timescales: Figure 1: Gantt chart From figure 1 is shown the Gantt chart for whole final year project timescales. The total period is for 9months. W1 = week 1 W2 = week 2 W3 = week 3 W4 = week 4 References: Abreau, L.V.L and Shahidehpour, M, 2006, wind energy and power system inertia in power engineering society general meeting, 16 October 2006, IEEE.org, pp 1-6 Biwen Zhang and Yingjin Zhang, 2010, plan for the wind power device to make the best of earth wind energy In future power and energy system engineering, 2010 international conference, china 26-27 June 2010,IEEE.org, pp7-10 Bilinton, R and Guang Bai, 2004, generating capacity adequacy associated with wind energy in energy conversion, Canada September 2004, IEEE.org, pp 641-646 Fang Lin Luo, 2010, Design of wind turbine energy system in IPEC,2010 conference proceedings, Singapore 27-29 October 2010, IEEE.org, pp110-116 Hu,P, karki,R and bilinton, R, 2009, reliability evaluation of generating systems containing wind power and energy storage in generation, transmission distribution, IET, Canada August 2009, IEEE.org, pp783-792 Lerch, E, 2007, storage of fluctuating wind energy in power electronics and applications, 2007 European conference, Europe 2-5 September 2007, IEEE.org,pp1-8 Ming-Shun Lu, Chung-Liang Chang, Wei-Jen Lee and Li Wang, 2008, combining the wind power generating system with energy storage equipment in industry applications society annual Meeting, 2008 IAS08 IEEE, Taiwan 5-9 October 2008 , IEEE.org, pp 1-6 Musgrove,P.J, 1983, wind energy conversion an introduction in

Rearing Children in Love and Righteousness :: Relationships Parenting Papers

Rearing Children in Love and Righteousness â€Å"Parents have a sacred duty to rear their children in love and righteousness, . . .[and] to teach them to love and serve one another† (The Family: A Proclamation to the World,  ¶ 6). This statement by The Proclamation proclaimed to the world of the responsibility parent have for their children – to teach them right from wrong. In today’s world less and less parents are the principal caregiver and teacher in a child’s life. The Proclamation firmly places this responsibility squarely on the heads of the parents. Yet even with this knowledge, the application of how to â€Å"rear their children in love and righteousness† could be debated. Many parents (even amongst members) have differing opinions on how children should be disciplined and taught. Is spanking considered abuse? Or is it excusable under certain circumstances? Should time out, or bribery be used to coerce kids to obey, or is it a combination of both? Many people have ques tioned what types of punishments are â€Å"righteous† and which ones are not. Here I want to discuss these things and find out what is the most popular belief among college students. Then we can go to our text, â€Å"Strengthening Our Families: An In-Depth Look at the Proclamation on the Family†, and discover what General Authorities and scholars in the field of Sociology and Child Development teach. In this way we can talk to others and inform them on, and maybe call them to reflection about their opinion and on the teachings of the leaders of the church. When I was growing up, my parents believed in punishing a child who had severely disobeyed with spanking. Learning quickly at a young age that I did not like this, I was only spanked two or three times after which I built up the determination never to do anything deserving of spanking again. It scared me half to death and I despised it as a child. I have seen my older sisters, as they are currently raising their children, use spanking as a mode of punishment – sometimes it works, other times it seem to have little affect. I decided to ask my roommates and friends how their parents had disciplined them and what they thought they would do with their future children.

Coach Inc. case analysis Essay

Coach, Inc. is an upscale American leather goods company known for women’s and men’s handbags, as well as items such as luggage, briefcases, wallets and other accessories (belts, shoes, scarves, umbrella†¦). The firm was founded in 1941, in a loft in New York as a partnership called the Gail Manufacturing Company. As of July 2, 2011, the company operates in over 20 countries with more than 1,100 retail stores and around 15,000 employees worldwide. Today, Coach Inc. has distribution, product development and quality control operations in the US, France, Italy, Japan, Hong Kong, China and South Korea. From 2001 to 2011, Coach launched a series of activities to take great control over the brand in the Asian markets, and it also accelerated its European expansion with the help of its European joint venture partner in 2011. Continuous innovation and affordable price are two keys for Coach to conduct international business. In addition, owing to its multi-channel retail n etwork, Coach, Inc. has successfully enhanced its brand image all over the world. Luxury goods industry is highly competitive due to a low market-entry barrier. It has experienced ups and downs during the 2000s. And in recent years, the industry has recovered and developed rapidly. More and more luxury goods corporations have expanded their operations in emerging markets through Internet and e-commerce. The future outlook of this industry is optimistic. The competitions in the luxury goods industry are pretty intense. Many competitors of Coach are from France and Italy such as Louis Vuitton, Hermà ¨s, Gucci, and Prada. Having superior brand recognitions and strong impacts on global luxury goods market make them become dangerous rivals of Coach, Inc. Even though Coach Inc. has come up with good strategy, it still suffered from harsh competition. The profit margin was still below the level achieved prior to the onset of a slowing economy in 2007 and its share price had experienced a sharp decline during the first six months of 2012. Due to the changing environment and harsher competition, it was not clear whether the company’s recent growth could be sustained and its competitive advantage could hold in the face of new accessible luxury lines launched by such aggressive and successful luxury brands as Michael Kors, Salvatore†¦ Therefore, I recommend that Coach thinks about spending money working on TV commercials, or cooperating with some world-famous jewelry brands to raise the brand aw areness. It also needs to consider expanding in China so as to cut down operating expenses and better meet the Ch ­inese customers’ growing needs. Question 1. What are the defining characteristics of the luxury goods industry? What is the industry like? Economics define a luxury good as one for which demand increase as income increase. Luxury goods are said to have high income elasticity of demand: as people become wealthier, they will buy more and more of the luxury good. This also means, however, that should there be a decline in income its demand will drop. Unlike inferior goods, they are related to price and high-income individuals. A luxury corporation may establish its image via pricing, exclusivity, limited availability, quality and location. High pricing gives the product its prestigious nature, and implies high quality. Luxuries may be services. The hiring of full-time or live-in domestic servants is a luxury reflecting disparities of income. Some financial services, especially in some brokerage houses, can be considered luxury services by default because persons in lower-income brackets generally do not use them. Luxury brands in general, relied on creative designs, high quality, and brand reputation to attract customers and build brand loyalty. Price sensitivity for luxury goods was driven by brand exclu sivity, customer-centric marketing, and to large extent some emotional sense of status and value. The luxury goods market has been on an upward climb for many years. The market for luxury goods was divided into three main categories: haute-couture, traditional luxury, and the growing submarket â€Å"accessible luxury†. At the apex of the market was haute couture with it very high-end â€Å"custom† product offering that catered to the extremely wealthy. Luxury goods manufacturers believed diffusion brand’s lower profit margins were offset by the opportunity for increased sales volume and the growing size of the accessible luxury market and protected margins on such products by sourcing production to low-wage countries. Eye-catching utilization of their products by prominent figures in society leads to increasing demands for luxury good items and it is a growing industry with the global luxury goods market growing 9% per year. These consumers buy their products for satisfaction and to boost their self-esteem rather than for ease or comfort. All these components blend in the context of a successful business of the luxury goods. The industry has performed well, particularly in 2000. In that year, the world luxury goods market –  which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage, handbags. The luxury-goods business needs people to feel good about spending money. The luxury goods industry is global in scope. In 2005, Italy (27%), Replica Armani Swiss France (22%), Switzerland (19%), US (14%) controlled a combined 82% of the worldwide luxury goods industry sales. In 2006, the industry was expected to grow by 7%. Much of this growth can be attributed to increasing income and wealth in developing European countries, China, and changes in consumer buying habits. Additionally, the entry of big box stores into the distribution chain has opened the market to middle-income consumers, who earn substantially less that the $300,000 household. The luxury goods industry is under drastic change and at different levels. This has an impact on Coach’s business because they have two different types of stores. Two different types of stores of Coach On one hand they have factory stores who sell at a discounted price and on the other hand they have full-priced stores or flagship stores which cater to higher end consumers. While the factory stores are being hit by the American financial crisis due to the lack of disposable income for the middle class, full-price stores or flagship stores have brighter future with an increasing number of millionaires. Question 2. What is competition like in the luxury goods industry? What competitive forces seem to have the greatest effect on industry attractiveness? What are the competitive weapons that rivals are using to try to outmaneuver one another in the marketplace? Is the pace of rivalry quickening and becoming more intense? Why or why not? The competition in the luxury goods is very strong. The financial crisis (2007-2009) had a great effect on the luxury goods industry. This led to a huge decline in sale in United States, Japan and Europe. Therefore, the competition in old market and especially emerging market is extremely intensive. In the emerging market (China, India and Southeast Asia), from 2% of industry sales in 2001, they had 20% of industry sale in 2011. Thousands of companies compete in this fields, which are mainly from  Italy, France, Swiss and United states. According to Merrill Lynch, the most valuable luxury brands in terms of annual revenues in 2011 were Louis Vuitton, Gucci, Hermes and Cartier. The competition in the luxury goods industry is extremely intense due to a low market-entry barrier, that is, not all the corporations in this industry can gain great achievements. Many companies had to withdraw from the market because of being short of effective follow-up financial support. Nowadays, this industry provides services for two types of clients: to the rational consumers, some companies choose to offer affordable luxury goods w hich are classic styles and won’t be outdated for a long time; and to the fashion-conscious customers, plenty of firms try to supply higher-priced products whose designs are keeping up with the newest fashion trends. Luxury goods industry has experienced ups and downs during the 2000s. The world’s top brands such as Louis Vuitton, Gucci, and Hermes all generated benefits of more than 100% at the end of 1999. In 2000, the industry continued performing well in the global financial markets. However, the changes took place in the following years. Luxury goods industry was strongly impacted by the adverse effects of wars, diseases, and global economic recession. Fortunately, it soon started recovering with the support of its loyal customers who were eager to buy luxuries to demonstrate their wealth and status. Recently, with the rapid development of Internet and e-commerce, more and more luxury goods corporations have successfully marketed their products in emerging markets. And they will constantly optimize their goods and services to meet the international customers’ higher demands in the future. So on the basis of above analysis, luxury goods industry is promising. Coach Inc. is the biggest name of luxury goods in the United States. Coach’s market share in the U.S. handbags market fell from 19% to 17.5% between 2011 and 2012. This share was mostly grabbed by competitor Michael Kors, whose market share has risen from 4.5% to 7% in the same period. This discouraging trend hasn’t been reversed in the past year as comparable store sales fell by approximately 15% in the holiday quarter. This drop in sales was due to lower traffic in Coach’s stores as shoppers were turned off by the lack of online flash sales over the quarter. Sales have now fallen for the third straight quarter in succession and management expects sales to fall further in the second half of the fiscal year. The bright spots for Coach in this  quarter were sales in China, which were up by 25%, and the sales of handbags priced above $400, in North America. The disappointing thing for the company is that these high-priced handbags only comprise about a fifth of their handbag products and this means that the company is losing out to competitors on nearly 80% of their product lines in this division. The main competitor of Coach in the US is Michael Kors, having grown its revenues between 58% and 67% in the last three years, posted a revenue growth of 59% in the holiday quarter. This growth is an ominous sign for Coach as Michael Kors hasn’t reached its full store capacity yet. The store count for Michael Kors’ stood at 284 by the end of the previous quarter or approximately 70% of its stated long term target of 400 stores. Without having reached its full store capacity yet, it is possible that Michael Kors isn’t meeting the full demand for its products and there is still potential room for growth. This is a challenging scenario for Coach. One of the competitive forces that have a great effect on industry attractivenes s is the threat of new entrants and how hard it is to build up a brand name that can compete with the likes of Coach, Louis Vuitton, Dolce & Gabbana, and Versace. It takes deep financial pockets and great commitment to create luxury image with well-known brand and superior quality. Thus making it costly for new entrants to gain exposure and market share. Luxury items are known for their superior quality and to some people, the status that they carry. New entrants must build this status from the ground up, which can prove difficult without sufficient resources. Even if new competitors enter the luxury goods market with high quality products, they cannot compete with established fashion brands easily. Another competitive force can be the bargaining power with suppliers. A high end leather producer would like to be linked to the luxurious brand names of Coach and Louis Vuitton. The power industry members have over suppliers is in favor of the globally known luxury brand which is known to produce quality goods. Competitors use many weapons to beat the competitors in the luxury goods industry. The competitive weapons that rivals are using to try to outmaneuver one another in the marketplace mostly lie in the mode of pricing and offering economy levels of products. H igher quality is a must use weapon in the luxury industry. Higher quality is one of the most important weapons First is to hire celebrities to build a stronger brand image to help sell products and obtain a higher status. For instance Louis Vuitton, who utilizes celebrities such as Jennifer Lopez, Uma Thurman, and Naomi Campbell to promote its brand image, Or other brand name, Gucci, use Camilla Belle, Salma Hayes or Brad Pitt for advertising their name. Introducing new fashion trends and product innovation is another weapon used in the luxury industry. Big brands such as Hermes always held a fashion show annually in France to promote their late trends, and many people follow this trend to feel more confident and fashionable. But perhaps the most overlooked weapon is customer service, where some industry members are failing. According to the Luxury Institute, more than half of luxury store shoppers are unhappy with their shopping experience and that could lead to losing customers. Providing superior customer service like companies such as Giorgio Armani, who topped the Luxury Instituteâ€℠¢s research, can not only lead to customer satisfaction but brand loyalty as well. The pace of rivalry quickening and becoming more intense nowadays. No companies want to lose their market shares. All of them have the impressive strategy to develop and pass their competitors. Moreover, the globalization makes a chance for the product can easily export and import, therefore they can reach to emerging market with new customers, such as China, Southeast Asia or India. Moreover, the handbag market encompasses dynamic players and an expanding consumer base, which is expected to flourish due to increasing demand from emerging markets and strong performances by the international luxury brands. It is true that the rivalry is quickening and becoming more intense because not only the differences between the companies are becoming less but also because the market is expanding by a great pace and it is important to engulf a better part of the market share to maintain sustainability. Question 3. How is the market for luxury handbags and leather accessories changing? What are the underlying drivers of change and how might those driving forces change the industry? The market for the luxury handbags and leather accessories is highly competitive. Recently, Coach Inc. is the market leader in the US market. But the market for luxury handbags and leather accessories is now changing rapidly because of many reasons.  Firstly, the middle class is expanding and become younger and they are gaining disposable income to spend on luxury goods with different agendas than previous generations. Secondly, they also have different perspective on change, financial smarts, and have a very strong opinion and style on dressing up. Industry members need to account for the differences between the two, specifically how these differences affect their luxury goods buying habits. Finally, there has been the change in generations. The change from Generation X to Generation Y consumers has ar rived and they are gaining disposable income to spend on luxury goods with different agendas than previous generations. Coach was founded in 1941 and began producing ladies handbags with simple and extremely resilient to wear and tear, but over the next 40 years, Coach was able to grow at a steady rate by setting prices about 50 percent lower than those of more luxurious brands, adding new models and establishing accounts with retailers such as Bloomingdale’s and Saks Fifth Avenue. In 1996, Reed Krakoff – a top Tommy Hilfiger designer as a Coach’s new creative director believed new products should be based upon market research rather than designers’ instincts about what would sell, so the design process launched new collections every month to be satisfy with customers. By 2000, the changes to Coach’s strategy and operations built the brand into a sizeable lead in the â€Å"accessible luxury† segment of the leather handbags and accessories industry and made it a solid performer in Sara Lee’s business lineup. Therefore, the market for luxury handbags and leather accessories has changed through time from the beginning to now, also the changing has depended on both the favor of customers and the difference from existing handbags to be unique ladies Coach’s handbags and new creative monthly collections. The value of the global personal luxury goods market was reported at $191 billion for 2011 by Bain & Co. up 10% from the previous year. In the same report luxury leather goods are estimated at $28 billion for 2011. Luxury leather goods are a rapidly growing category, with a 16% growth from 2010 to 2011. The leather goods category is at times also grouped with luggage, with bags, wallets and purses accounting for 57.1% of the global luggage and leather. The market for luxury handbags is rapidly growing in the U.S., which has helped Coach a great deal, seeing that 36% of its revenues come from handbags as seeing in Exhibit 4 (C-77). From 2002 to 2006 the overall market size for U.S. handbags grew doubled and has been a  main contributor for Coach’s growth personally. Some analyst believe that this can be linked to consumers trading up from brands such as Banana Republic and DKNY, while others link it to the rise in wealth. The world is now full of information. This gives consumers some bargaining leverage. With the internet and other technological advances, consumers are well informed and can know the latest fashion trends at the click of a button. A research done in 2007, surveyed 7,705 college students in the US and their findings were that 97% owned a computer, 94% owned c ell phones, 34% use websites as primary sources for news, and 28% write blogs. This means that a large majority of the new generation is heavily entrenched in technology and able to do extensive research on their products before making purchases. They not only have internet search engines like Google or Yahoo, but they have each other to communicate from an end consumer’s perspective. There are even websites set up to talk about the experience when buying luxury goods found at Style.com. Style.com – Leading US fashion website The demand for customer service is also increasing. When paying a lot of money, they want superior customer service, not the average one. The customers pay a high price, whether it is for quality or status, they expect to get their money’s worth. Because more and more people demand luxury goods, they demand better customer service along with it. With the demand for customer service becoming more apparent, industry members can expect a more intense competition in regards to customer service to satisfy this demand. Also, changing societal concerns, attitudes, and lifestyles represents another industry driving force for a number of reasons. First, changing preferences by middle class consumers towards luxury goods inevitably created a new segment in accessible luxury goods. Without the changes in the way these consumers thought about the brands and wanting to own something more elite without having an elite price tag, Coach (among other companies) was able to capitalize on this o pportunity. With new accessories coming out in all shapes and sizes every day, it is absolutely essential that firms keep in tune with changes in the external environment – particularly with one’s consumers. Last, but not least, there is an increasing demand on services on customers in the luxury goods industry so  that customers are willing to pay more money to receive good services with high prices, whether it is for quality or status. There are many other drivers of the luxury goods market as mentioned below: Tourists are changing their consumption habits, seeking out new destinations (e.g., Dubai, South East Asia, Australia) and showing more savvy in the items they purchase Each year, more â€Å"HENRYs† (High Earnings, Not Rich Yet) become potential customers, with ten times as many HENRYs as ultra-affluent individuals The rise of the middle class in emerging countries is polarizing the competitive arena, becoming a â€Å"new baby boom sized generation† for luxury brands to target. Absolute luxury items (consisting of high-end products with no logo, highest quality materials, and exquisite craftsmanship) lead the way Despite some recovery of spending on apparel, leather goods and other accessories will continue growing faster than other categories Watch consumption has sharply decelerated as retailers de-stock and as Chinese luxury consumers slow their purchasing Cosmetics are slowing down in mature markets, while still delivering growth in emerging markets High consumer confidence among the affluent, increased store openings in American cities, and intensive investment in linking physical and digital shopping are all fueling United States sales growth. The impact of 12 percent sales growth across Central and South America (notably Brazil and Mexico) will result in overall growth of five to seven percent in the Americas In Asia, growth in China is stabilizing to an expected seven percent, while South East Asia will experience 20 percent growth driven by a wave of new store openings, and increasing strength and relevance of second-tier markets Japan returns to a strong growth story of five percent as the country’s monetary policy depreciates the yen and pushes local consumption Europe remains a challenge for the industry; as tourism slows, as tourists spend less per visit, and as Europeans, especially in southern Europe, curtail spending—Bain expects flat-to-two percent growth Middle East is growing at a steady pace, with Dubai continuing as the center of gravity and the only city attracting foreign luxury consumers (e.g. Russians, Indians, Africans) There has been many changes such as changes in who buys the product, c hanges in industry’s long-term growth rate, changes in cost and efficiency The driving forces can change the industry by 1. Superior customer experience Luxury will depend more than ever on word-of- mouth promoters who share their delight with products and experiences Consumers expect every interaction in stores, online, and on mobile devices to be premium, differentiated, and targeted to their tastes and preferences Marketing must maintain a persistent drumbeat of innovation in media and messaging to keep consumers connected to what’s new. 2. Flawless retail management Physical and digital storefronts are accelerating their arms race for offering more compelling engagement to wow the luxury shopper The era of the disengaged, formal shopping experience is ending. Shoppers now expect inviting and personalized service to welcome them into the store As store networks grow into new markets and tap new segments, the bar is raised for ensuring the right products are in the right stores in the right quantities. 3. People excellence Brands are investing more in top management talent from strategy to finance to supply chain to back office operations The store employee serves as brands’ direct face to shoppers, with brands expending significant resources on training and development of people on the front lines Luxury players are more and more putting the customer first in their strategies. Question 4. What key factors determine the success of makers of fine ladies handbags and leather accessories? There are many key factors that determine the success of makers of fine ladies handbags and leather accessories including these following elements: Coach, Inc. has consistently fashioned their product line to coexist with the newest styles and seasons. This Spring Coach is introducing a new â€Å"scribble line† that consists of a poly cotton material and bright colors. These new products were tested at fifteen stores and were â€Å"enormously well received†, says CEO Lew Frankfort. Coach Inc. is expecting to increase sales in February thanks to the new â€Å"scribble line† and Valentine’s Day. In an effort to keep up with the broadening competition Coach, Inc. has is planning to add up to nine more stores in the United States along with two more in Japan. Coach Inc. sales have been  helped by the recent innovative accessories such as the PDA leat her holder. The diverse product line consists of women’s handbags, key fobs, belts, electronics accessories, cosmetic cases, gloves, hats, scarves, watches, shoes, and sunglasses. By having a large product line, it allows for the company to diversify and differentiate. Similarly, Coach frequently introduces new products which are indicative of a commitment to diversifying its product lines. Coach’s diverse product line Thanks to the changes to Coach’s strategy and operations to build a sizeable lead in the â€Å"accessible luxury† segment of the leather handbags and accessories industry a solid performer in Sarah Lee’s business lineup, in October 2000, spinning off Coach through an IPO is a part of a restructuring initiative designed to focus the corporation on food and beverages. Therefore, Coach Inc. proved the ability to manufacture high quality products while increasing margins by outsourcing production to lower cost markets and Coach did in having around 80% of its products outsourcing in 2000. The evidence for that is the quadrupled growth in annual sales was from $555 million in 1999 to more than $4.2 billion in 2012, reflecting their success in identifying and capitalizing quickly on opportunities for growth. The coach brand is one of the most recognized handbag and accessory brands in the World. Coach is committed to leading the fine accessories market by designing and producing the finest quality of accessories including handbags, luggage, travel accessories, wallets, outerwear, eyewear, gloves, scarves, and fine jewelry for both men and women. Using a multi-channel distribution strategy Coach is presently able to have 200 stores in the United States alone with locations in eighteen countries outside the United States, as well as a full colored catalogue and an online store at www.coach.com. Online store of Coach A well-known and well-respected brand name is clear advertising. The Luxury Institute rated Coach’s advertisements atop their ranking for print advertisements in regards to the overall Luxury Ad Effectiveness Index in 2006. Wealthy consumers said that Coach’s message were â€Å"bold and to the  point† and â€Å"extremely eye catching† with its use of black and white photography and lack of other distractions. Coach is very strong when it comes to brand image. As indicated by the case, Coach held a 25 percent share of the U.S. luxury handbag market and was the second best-selling brand in Japan, with an 8% market share. To earn strong market share, Coach offers a â€Å"winning combination of styling, quality, and pricing† that essentially operates off the premise that they would target the new accessible luxury goods segment. Besides strong brand image, Coach also possesses strong distribution capabilities. For example, in the United States, Coach products could be found in approximately 900 department stores, 218 Coach full-price stores, and 86 Coach factory outlet stores in addition to sales generate from their website. Essentially a strong distribution network allows for Coach to position their luxury goods as accessible (without tarnishing their image). Coach has since it has distribution, product development, and quality control in the United States, Italy, Hong Kong, China, and South Korea. Coach currently uses a multi-channel distribution strategy. The products are sold through direct mail catalogs, on-line store, e-commerce websites, 200 retail stores and its 76 factory stores. The catalog has had increasingly popularity and has been an important advertising and sales tool for Coach, both domestically and abroad. In addition, Coach launched its online store at www.coach.com. Coach has also spread to various retailers and departments stores to increase sales. To improve and market the brand, boutiques have been set up in the department stores. Through this distribution strategy and advertising campaign Coach has become one of the most well recognized brands in the United States and is rapidly gaining recognition internationally, especially in Japan. With an established global brand, strong demand for innovation in technology remains high, Coach has introducing a new collection on a monthly basis. For example, Coach utilizes its website to generate sales worldwide. While some businesses think that web development is easy, maintaining a sophisticated website on a global scale that not only considers cultural elements, language, and product lines, can be a daun ting task. Besides web development, Coach also needs strong technology to maintain quality control  with its product lines. Because Coach’s products are luxury goods, consumers essentially expect quality with minimal defects. By maintaining and continuously investing in technology in order to innovate products and minimize defects, Coach not only assures quality to their customers, but also justifies their premium prices over one of the major problems facing all luxury goods – knockoffs. Coach is, â€Å"America’s number one accessible luxury accessories brand, and the fastest growing imported handbag and accessory brand in Japan.† Without marketing and design it would not be possible for Coach to receive such distinguished titles. In 2004 marketing and design costs reached 63.5 million. As a result Coach was able to penetrate new markets such as Japan and strengthen their position in existing ones. Coach recently announced the next phase of its growth strategy Japan. It involves capitalization on the significant growth opportunity that exists with the domestic Japanese consumers. The company expects sales to more than double during the next four years to over 80 billion yen by 2009. F urthermore, Coach announced that it is strengthening its leadership team at Coach Japan, or CJI, later this spring. Coach will also add two executives who will be responsible for all Coach retail and factory store strategy and operations. In addition, CJI will shortly be announcing the appointment of its first Executive Vice President and Chief Operating Officer, a new position for the company. The Chief Operating Officer will spearhead logistics initiatives as well as oversee administrative, finance and information technology functions. To sum up, to determine the success of makers of luxury handbags and leather accessories, Coach need to have the significant key factors which there are the ability to manufacture high quality products while increasing margins by outsourcing production to lower cost markets, strong brand image, strong global distribution capabilities, diverse product line and strong innovative technology. Question 5. What is Coach’s strategy to compete in the ladies handbag and leather accessories industry? Has the company’s competitive strategy yielded a sustainable competitive advantage? If so, has that advantage translated into superior financial and market performance? 1. Coach’s strategy to compete in the ladies handbag and leather accessories. Coach’s strategy is  to offer distinctive, easy recognizable luxury products that were extremely well made and provided excellent value. The company has used the best-cost strategy. The company’s array of products included ladies handbags, leather accessories such as key forbs, electronic accessories, and cosmetic cases. Coach pursues this strategy by many ways: Coach positioned its brand in the lower part of the accessible and affordable luxury pyramid. This particular market provides a larger opportunity relatives to that of more exclusive brands. Coach targeted the top 20 percent of Americans by households’ income, as opposed to the top 3 to 5 percent targeted by most European luxury brands. Coach has focused on sales in China, Japan and the United States because these three countries lead global luxury goods spending. Coach has flexible sourcing. All of Coach’s production was outsourced to contract manufacturers, with vendors in China accounting for 85 percent of its products requirements. Vendors located in Vietnam and India produced the remaining 15 percent of Coach products requirements. Management control quality throughout the process with product development offices in Hong Kong, China, South Korea, India, and Vietnam. This broad-based, global manufacturing strategy was designed to optimize the mix of cost, lead times, and construction capabilities. The company’s procurement process selected only the hi ghest-quality leathers and its outsourcing agreements with quality offshore manufacturers contributed to the company’s reputation for high quality and value. Coach launched new collection every month. The market research design process developed by Executive Creative Director Reed Krakoff provided the basis of Coach’s differentiated product line: each quarter, major consumers research is undertaken to define product trends, selections and consumers designs. Monthly product launches enhanced the company voguish image and gave consumers reason to make purchases on a regular basis. Lew Frankfort said the increase was attributable to monthly product launches that â€Å"increase the frequency of consumer visits† and women’s changing style preferences of â€Å"using bags to complement their wardrobes in the same way they used to use shoes†. A retail analyst agreed that the frequent product introductions is â€Å"a huge driver of traffic and sales and has enabled them to capture the†¦customer who wants the newest items and fashions†. Coach sought to make  customer services experiences an additional differentiating aspect of the brand. It had agre ed since its founding to refurbish or replace damaged handbags, regardless of the age of the bag. The company provided store employees with regular customer services training programs and scheduled additional personnel during peak shopping periods to ensure all customers were attended to satisfactorily. Customers are allowed to order merchandise for home delivery if the particular handbag or color wasn’t available during a visit to a Coach store. 2. The company’s competitive strategy yielded a sustainable competitive advantage thanks to its strategy to have both full-price stores and factory store. In 2011, Coach had 345 full-price retail stores in the United States, which comprised 70 percent of its total US outlets. Full-price stores were divided into three categories-core locations, fashion locations, and flagship stores. Under Coach’s tiered merchandising strategy, the company’s flagship stores carried the most sophisticated and high-priced items, while core stores carried widely demand lines. The company’s fashion locations tend to stock a blend of Coach’s best-selling lines and chic specialty bags. Coach had 143 factory stores by 2011. About 75 percent of factory store inventory was produced specifically for Coach factory stores, the remaining 25 percent was made up of overstock items and discontinued models. Coach’s 10 to 50 percent discount offered a year round full-price poli cy in full-price stores. Handbags sold in Coach full-price stores ranged from $200-$500, which was well below the $700-$800 entry-level price charged by other luxury brands. So the buyers could get a branded product in an affordable value. Coach’s products price Therefore, Coach’s factory stores target customers who might not otherwise buy Coach products. Both full-price stores and factory stores customers were equally brand loyal, but there was a distinct demographic difference between the shopper segments. It means that each type of consumer does not affect the other. During these economic times, it may seem as though the factory store shoppers might reduce spending. However, these same economic times have little effect on full-priced shoppers due to their amount of wealth. This might be able to help Coach in its struggle between being an exclusive brand or just another common brand. Coach has many product lines- items with  appealing attributes, assorted upscale features. Coach Inc. designed and marketed women’s handbags; leather accessories such as key fobs, belts, electronic accessories and cosmetic cases; and outwear such as gloves, hats and scarves. Coach also designed and marketed leather business cases and luggage. C oach is production emphasis- build in upscale features and appealing attributes at lower cost than rivals. The outsourcing agreements allowed Coach to maintain a sizeable pricing advantage relative to other luxury handbag brands in its full-price stores as well.  Moreover, Coach is marketing emphasis. Coach’s wholesale distribution international markets involved department stores, freestanding retail locations, shop-in-shop locations, and specialty retailers in 18 countries. The company mailed about 4.1 million catalogs to strategically selected households in the US during 2006 and place another 3.5 million catalogs in Coach retail stores for customers to pick up during a store visit 3. That advantage has translated into superior financial and market performance both in the United States and worldwide. In 2011, Coach had 169 retail locations in Japan, which generated $748 million in sales. In 2012, Coach had 66 stores in China, up from 41 stores in 2011. Coach anticipated recording fiscal 2012 revenues in China approximately $300 million. Coach’s products were sold in approximately 970 wholesale locations in the U.S. and Canada. From 2002 to 2006, Coach has been growing faster than the handbag market in the U.S. This has resulted in Coach continuously gaining market share. Which, in 2002 was 19% and just four years later Coach was holding 26% of the U.S. handbag market share in the U.S. and also had total revenues of $2.6 billion in 2008, a 26.9% increase from 2006. As of June 2008, it operated 289 retail stores and 102 factory stores in the United States, five retail stores in Canada. This is not satisfying enough as Coach expects the number of factory st ores to top out at around 100 in the U.S. while the full-priced stores could reach up to 350. Coach’s wholesale distribution in international markets involved department stores, freestanding retail locations, shop-in-shop locations, and specialty retailers in 18 countries. In 2006, international wholesale accounts amounted to $147 million and have grown some 7.8 percent per year to reach approximately $230 million in 2011. Question 6. What are the resource strengths and weaknesses of Coach Inc.? What competencies and capabilities does it have that its chief rivals don’t have? What new market opportunities does Coach have? What external threats do you see that could adversely impact the company’s future wellbeing? Strengths Coach is very strong when it comes to brand image. As indicated by the case, Coach held a 25 percent share of the U.S. luxury handbag market and was the second best-selling brand in Japan, with an 8% market share† .To earn strong market share, Coach offers a â€Å"winning combination of styling, quality, and pricing† that essentially operates off the premise that they would target the new accessible luxury goods segment. Besides strong brand image, Coach also possesses strong distribution capabilities. The company works closely with its distributors to sell its products through domestic as well as overseas department stores. It also markets its products by making effective use of Internet, like sending emails to its selected customers and updating the information on its website in time. These retail channels truly boost Coach’s presence in global markets and promote its brand. For example, â€Å"in the United States, Coach products could be found in approximately 900 department stores, 218 Coach full-price stores, and 86 Coach factory outlet stores† in addition to sales generate from their website. Essentially a strong distribution network allows for Coach to position their luxury goods as accessible (without tarnishing their image). Another strength Coach has is the diverse product line consisting of women’s handbags, key fobs, belts, electronics accessories, cosmetic cases, gloves, hats, scarves, watches, shoes, and sunglasses. By having a large product line, it allows for the company to diversify and differentiate. Similarly, Coach frequently introduces new products which are indicative of a commitment to diversifying its product lines. Moreover, when it comes to the financial performance, Coach, Inc. has handed in a satisfactory answer to the public over the years. In 2011, the revenues of the company were $4,159 million, an increase of 15.3% compared with 2010. Besides, its operating profit and net income reached $1,305 million and $881 million in the same year, an increase of 13.5% and 19.8% over 2010 respectively. Finally, one of Coach’s greatest strengths is excellent customer service when it comes to taking care of their customers. In an effort to show value-added benefits, Coach  refurbishes damaged handbags and provides â€Å"Special Request service† to allow consumers to custom order a product if a â€Å"particular handbag or color wasn’t available during a visit to a Coach store†. Weaknesses With locations all over the United States, one of Coach’s biggest weaknesses is also one of its previously mentioned strengths: accessibility. With so many retail stores attempting to sell high-cost inventory, Coach inevitably puts itself in a situation with a high risk/high reward situation. Currently, the strategy has paid off because middle class consumers have started to purchase luxury goods; however, as the case states, Coach’s most loyal consumers visited the store once every two months and made a purchase once every seven months with an average customer purchasing around four handbags per year. While consumers are benefited in accessibility, the question remains when sales begin going sour, can Coach endure the high costs of so many retail stores and any left-over inventory? Coach has had a high level of inventory. As of 2011, the value of the company’s merchandise inventories was $422 million, an increase of over 16% over 2010. It is obvious that large inventories damage a corporation’s liquidity. Therefore in order to clear inventories, Coach may have to make a painful decision to cut prices, which could have an apparent negative effect on the firm’s profitability. Though Coach, Inc. is a luxury brand aiming at the international market, its operations heavily rely on American market. The evidence was that the US represented 74.6% of Coach’s total revenues in 2006. Such a market concentration may put the company at risk of having to suffer a slump in demand for Coach’s products caused by American economic slowdown or recession. Opportunities While Coach currently has a strong base in international markets, as standards of living around the world continue to increase, Coach can really exploit the opportunity to invest overseas particularly in developing nations such as China. In Japan, there are many young single ladies whose age is between 25 to 30 are pretty fashion conscious and willing to pay much more than their American peers for similar western luxury goods in order to demonstrate their good personal taste. So it is advisable for Coach to take the business opportunity of excavating such a vast latent market. The  Chinese market for luxury goods was predicted to increase to 24% of global revenue by 2014, which would make it world’s largest market for luxury goods. Along the same lines of globalization, Coach can increase its market share through development of sales via their website. While Coach currently operates an e-commerce site, it still remains to be seen on how sophisticated it really is. Coach could look into some potential new avenues of possibly adding some customization features or, at the very minimum, enhance the functionality and friendliness of their site so that they can generate sales from individuals not within range of their other stores. Threats As nations become more and more sophisticated in the ways that they are able to produce counterfeit products, one of the biggest threats that faces Coach is the ability of these knockoffs to serve as substitute products. To illustrate the extent of counterfeit goods, â€Å"in 2006, more than $500 billion worth of counterfeit merchandise were sold in the United States and internationally;† moreover, these staggering numbers illustrates the global problem confront many industries (Thompson C-106). This is a particularly dangerous threat to Coach because any time one of these fake products has defects, consumers, unknowingly, may associate it with a defective product. In addition, consumers who want their reference group members to think that they can afford high-end products may not want to pay premium prices for those products so they rely on the affordability of an identical product for half the price. As an American-based company offering fine leather goods, Coach has proved to be extremely successful in the domestic market. However, when the company launches its global expansion, it has to be confronted with lots of strong foreign rivals. So Coach should pay more attention to maintain its competitive advantages, or its dangerous competitors, such as LVMH Moà «t Hennessy †¢ Louis Vuitton S.A., The House of Gucci, and Hermà ¨s International S.A. will encroach on its market shares. Like most products, particularly luxury goods, Coach is impacted based on the economy. When the economy is down and consumers do not have a lot of spending money, so is Coach’s bottom line. In recent years, the consumers in the US have reduced their spending as a result of high interest rates and rising fuel prices. Under this kind of pressure, Americans tend to cut down their unnecessary expenses, especially the costs of luxuries. Consequently, the US Coach would lose a large number of customers which leads to poor sales. With luxury goods, consumers often find such products to be extremely elastic so dramatic drops in income will result in dramatic drops in sales of Coach’s product lines; moreover, this is particularly d angerous because of the high cost associated with maintaining high-cost inventory and facilities. Question 7. What recommendations would you make to Lew Frankfort to improve the Coach’s competitive position in the industry and its financial and market performance? Short-Term Recommendations Elevate Men’s Product Offering Currently, Coach concentrates on designing and offering women’s products, especially the handbags. The company only supplies the customers with a small part of men’s accessories which merely represent 2% of the total net sales.1 But in fact, an increasing number of men today have a great appetite for western luxury goods. They have the same desire for fashion products and prepare to spend much money on packing themselves. So Coach should do its utmost to meet men’s demands. Recruit Talented Fashion Designers Brilliant fashion designers are in high demand in luxury goods industry since a brand’s soul is the design of its products. So in order to set a good brand image as well as instill new vitality into the enterprise, Coach, Inc. needs to recruit more talented designers who are extremely sensitive to the pulse of fashion and have the ability to design a number of marketable products. Ally With Strong Jewelry Brands In many countries and areas throughout the world, Coach is considered as a mid-range luxury brand rather than a world’s top brand like LVMH, Gucci, Hermà ¨s, Prada and so forth. This phenomenon may be caused by Coach’s cheaper price. To compete against these powerful opponents and draw more attention from the upper-class customers, Coach can think about allying with a group of world-class jewelry companies to try to combine varieties of jewelries with its products. On the one hand, this practice is a sign of seeking novelty. On the other hand, it can also enhance Coach’s fame. Long-Term Recommendations Upgrade Brand Image In 2006, it took Coach’s 4.8% of net sales to design, advertise, and market its merchandise.2 However, the result was disappointing. The corporation’s reputation is still not as good as its international rivals. Actually, according to Coach’s performance in the past few years, it is clear that there is no big problem in product design and marketing, so Coach should take more advertising strategies into consideration besides Internet. For example, TV commercials, as a kind of cyclic visual stimulation, are much more eye-catching and effective than emails, catalogs and information listed on the websites. Curb Counterfeit Trade In international business, it is extremely significant for Coach to protect all its intellectual property rights so as to maintain the competitive advantages. Nevertheless, no matter how many efforts the company made, counterfeiting still happens frequently and shows an upward trend. At this time, Coach, Inc. should further improve the technological content of products to make it difficult to imitate and counterfeit. In addition, since Coach, Inc. operates in many countries, the company could strive to persuade the foreign governments to enact and amend their intellectual property laws, which can legally protect Coach’s interests. Expand in China As an emerging market, China has attracted more and more foreign investments from multinational enterprises in the past few decades. China is an ideal place for international investors because it offers cheap labor force, rich natural resources, huge potential market, as well as stable political and economic environment. What’s more, as a result of Chinese fast economic development, the number of Chinese customers who have a strong desire for the world-famous luxuries has dramatically increased in recent years. Thus it is advisable for Coach to set up factories and retail stores in China so as to both reduce operating expenses and better satisfy the growing needs of Chinese customers.

Mkt 505 Courseguide

MKT 505 – International Marketing COURSE DESCRIPTION This course reviews the organization for international marketing, foreign demand analysis, product development and policies, trade channels, promotion policies, pricing, and legal aspects. Emphasis is on development of effective international marketing strategy addressing the major global market areas (Europe, Africa, Asia, and the Americas). INSTRUCTIONAL MATERIALS Required Resources Keegan, W. J. , & Green, M. C. (2011). Global marketing: 2011 custom edition (6th ed. ). Upper Saddle River, NJ: Prentice Hall / Pearson. Supplemental Resources Colton, D. A. , Roth, M. S. & Bearden, W. O. (2010). Drivers of international e-Tail performance: The complexities of orientations and resources. Journal of International Marketing, 18(1), 1-22. Friedman, T. L. (2005). The World is flat 3. 0: A brief history of the twenty-first century, New York, NY: Picador. McCue, S. (2006). Force to force: Building profitable e-commerce strategies. Mason, OH: Thomson Higher Education. Mulki, J. , Jaramillo, J. , & Locanders, W. (2009). Critical role of leadership on ethical climate and salesperson behaviors. Journal of Business Ethics, 86(2), 125-141. Okazaki, S. , Mueller, B. & Taylor, C. (2010). Global consumer culture positing: Testing perceptions of soft-sell and hard-sell advertising appeals between U. S. and Japanese consumers. Journal of International Marketing, 18(2), 20-34. Santos, N. J. , & Laczniak, G. R. (2009). Marketing to the poor: An integrative justice model for engaging impoverished market segments. Journal of Public Policy & Marketing, 28(1), 3-15. COURSE LEARNING OUTCOMES 1. Formulate, implement, and evaluate effective marketing strategies based on an analysis of global operating environments, market dynamics, and internal capabilities. 2. Analyze the major economic, cultural, and political/legal aspects of the international business environment, including the economic dynamics of foreign trade, impact of regional and global trade integration, and key cultural dimensions affecting marketing operations. 3. Assess the potential risks and benefits of various international markets and formulate ffective market entry strategies to support foreign market expansion. 4. Integrate global information systems in the use of market research. 5. Integrate the concepts of market segmentation, product development, and pricing policies into viable marketing strategy to fit a variety of international market environments. 6. Configure product distribution channels and logistics to meet marketing objectives and fit a variety of global market envi ronments. 7. Analyze an integrated marketing communication (IMC) strategy to support global marketing operations. 2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 1 of 17 MKT 505 – International Marketing 8. Evaluate and adapt corporate marketing strategies to fit the changing dynamics of foreign markets and foster a competitive advantage. . Develop and integrate global e-Commerce into the marketing strategy. 10. Use technology and information resources to research issues in international marketing. 11. Write clearly and concisely about international marketing using proper writing mechanics. WEEKLY COURSE SCHEDULE The standard requirement for a 4. 5 credit hour course is for students to spend 13 . 5 hours in weekly work. This includes preparation, activities, and evaluation regardless of delivery mode. Week 1 Preparation Reading(s) o Chapter 1: Introduction to Global Marketing o Case 1-2: McDonald’s Expands Globally While Adjusting Its Local Recipe Activities †¢ †¢ Discussions Evaluation †¢ 2 †¢ None Reading(s) o Chapter 2: The Global Economic Environment o Chapter 3: Regional Market Characteristics and Preferential Trade Agreements Preparation 20 Preparation, Activities, and Evaluation Points e-Activity o Research the NAFTA trade agreement to determine the pros and cons of the agreement and the ethical issues of outsourcing as a byproduct of the agreement. Be prepared to discuss Activities †¢ †¢ Discussions Evaluation †¢ 3 †¢ None Reading(s) o Chapter 4: Social and Cultural Environments o Chapter 5: The Political, Legal, and Regulatory Environments o Case 4-1 Disney Adapts to Cultural Differences e-Activity o Research the marketing mistakes that were made at Euro Disney. Be prepared to discuss. o Go to the Transparency International Website, located at http://www. transparency. org/, to review the global corruption Preparation 20 †¢  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 2 of 17 MKT 505 – International Marketing links. Determine the pros and cons of doing business in countries that are recognized as being corruptive. Be prepared to discuss. Activities †¢ Discussions Evaluation †¢ 4 Case Study 1: Acer (Case 1-3) 20 280 Preparation Reading(s) o Chapter 6: Global Information Systems and Market Research o Chapter 7: Segmentation, Targeting, and Positioning o Case 6-1: Market Research Transforms Coach Activities †¢ †¢ Discussions Evaluation †¢ Case Study 2: America's Cuban Conundrum (Case 5-1) 20 240 5 Preparation Reading(s) o Chapter 8: Importing, Exporting, and Sourcing o Chapter 9: Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances o Case 9-2: Jaguar’s Passage to India Activities †¢ †¢ Discussions Evaluation †¢ None Reading(s) o Chapter 10: Brand and Product Decisions in Global Marketing o Chapter 11: Pricing Decisions o Case 11-2: LVMH and Luxury Goods Marketing e-Activity o Research the NAFTA trade agreement and be prepared to discuss the pros and cons of the agreement and the ethical issues of outsourcing as a byproduct of the agreement. Be prepared to discuss. o The top-ranked brands for 2008 are shown in the textbook as Table 10-2. Browse through the list and choose any brand that interests you. Compare its 2008 ranking with the most recent ranking at http://www. usinessweek. com/interactive_reports/top_brands. html. Determine how the brand's ranking has changed and support your assessment with outside sources. Be prepared to discuss. 20 6 Preparation †¢ †¢  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise d isclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 3 of 17 MKT 505 – International Marketing Activities †¢ Discussions Evaluation †¢ 7 †¢ Case Study 3: Carmakers Target Gen Y (Case 7-2) Preparation Reading(s) o Chapter 12: Global Marketing Channels and Physical Distribution o Chapter 13: Global Marketing Communications Decisions I: Advertising and Public Relations o Case 12-1: Tesco Expands in the United States Activities †¢ Discussions Evaluation †¢ 8 †¢ None Preparation Reading(s) o Chapter 14: Global Marketing Communications Decisions II: Sales Promotion, Personal Selling, Special Forms of Marketing Communications o Chapter 16: Strategic Elements of Competitive Advantage o Case 16-2: Kodak n the Twenty-First Century Activities †¢ Discussions Evaluation †¢ 9 Case Study 4: Advertising, Public Relations, and the 2008 Beijing Olympics (Case 13-1) 20 240 20 20 240 Preparation Reading(s) o Chapter 15: Digital Revolution o Case 15-1: Global Marketers Use Social Media Activities †¢ †¢ Discussions Evaluation †¢ None Reading(s) o Chapter 17: Leadership, Organization, and Corporate Social Responsibility o Case 17-2 Boeing versus Airbus: A Battle for the Skies e-Activity o Research the news and present a company that has currently violated its commitment to corporate social responsibility 20 10 Preparation †¢ †¢  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 4 of 17 MKT 505 – International Marketing (CSR). Be prepared to discuss. Activities †¢ Discussions Evaluation †¢ 11 †¢ Case Study 5: eBay in Asia (Case 15-2) Preparation Reading(s) o Case 4-2: Barbie: Growing Pains as the American Girl Goes Global o Case 10-2: The Smart Car Activities †¢ Discussions Evaluation †¢ None 20 20 240 GRADING SCALE – GRADUATE Assignments Case Study 1: Acer (Case 1-3) Case Study 2: America's Cuban Conundrum (Case 5-1) Case Study 3: Carmakers Target Gen Y† (Case 7-2) Case Study 4: Advertising, Public Relations, and the 2008 Beijing Olympics (Case 13-1) Case Study 5: eBay in Asia (Case 15-2) Participation (22 discussions worth 10 points apiece) Totals Total Points 280 240 240 240 240 220 1,460 % of Grade 19% 16% 16% 16% 16% 15% 100% Points 1,314 – 1,460 1,168 – 1,313 1,022 – 1,167 Below 1,022 Percentage 90% – 100% 80% – 89% 70% – 79% Below 70% Grade A B C F  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 5 of 17 MKT 505 – Assignments and Rubrics Case Study 1: Acer (Case 1-3) Due Week 3 and worth 280 points Write a 4-5 page report that answers the following: 1. Acer's strategy has been described as â€Å"divide and conquer. † Compare and contrast this to Lenovo's strategy. . Explain how the â€Å"global markets-local markets† paradox figures into Stan Shih’s strategy for China. 3. Determine what strategies Acer can apply to become the world’s third-largest PC company, behind Dell and Hewlett-Packard. 4. Even before the current economic crisis deepened, growth in the U. S. PC market had begun to slow down. Despite strong competition from Dell and Hewlett-Packard, Acer’s U. S. market share increased from 1 percent in 2004 to 3. 3 percent by the end of 2006. Analyze Acer’s prospects for gaining further share in the United States. . Provide evidence from at least three (3) qualified sources with the answer to number four, e. g. , textbook, peer-reviewed journals, government, or professional organizations Websites. Note: Properly cite your sources in the report and on a separate reference page that follows the APA style conventions. Your assignment must: †¢ 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. †¢ The specific Course Learning Outcomes associated with this assignment are: †¢ †¢ †¢ Formulate, implement, and evaluate effective marketing strategies based on an analysis of global operating environments, market dynamics, and internal capabilities. Use technology and information resources to research issues in international marketing. Write clearly and concisely about international marketing using proper writing mechanics. Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 280 Criteria 1. Acer's strategy has been described as â€Å"divide and conquer. † Compare and contrast this to Lenovo's strategy. Weight: 20% 2. Explain how the â€Å"global markets-local markets† paradox figures Case Study 1: Acer (Case 1-3) Unacceptable (Below 70% F) Did not submit or incompletely compared and contrasted Acer’s strategy to Lenovo’s strategy. Did not submit or incompletely explained how the Fair (70-79% C) Partially compared and contrasted Acer’s strategy to Lenovo’s strategy. Proficient (80-89% B) Satisfactorily compared and contrasted Acer’s strategy to Lenovo’s strategy. Exemplary (90-100% A) Thoroughly compared and contrasted Acer’s strategy to Lenovo’s strategy. Partially explained how the â€Å"global markets-local Satisfactorily Thoroughly explained how the explained how the â€Å"global markets-local â€Å"global markets-local  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 6 of 17 MKT 505 – Assignments and Rubrics into Stan Shih’s strategy for China. Weight: 20% â€Å"global marketslocal markets† paradox figures into Stan Shih’s strategy for China. Did not submit or incompletely determined what strategies Acer can apply to become the world’s third largest PC company, behind Dell and Hewlett-Packard. Did not submit or incompletely analyzed Acer’s prospects for gaining further share in the United States. No references provided. markets† paradox figures into Stan Shih’s strategy for China. Partially determined what strategies Acer can apply to become the world’s third largest PC company, behind Dell and HewlettPackard. Partially analyzed Acer’s prospects for gaining further share in the United States. markets† paradox figures into Stan Shih’s strategy for China. Satisfactorily determined what strategies Acer can apply to become the world’s third largest PC company, behind Dell and HewlettPackard. Satisfactorily analyzed Acer’s prospects for gaining further share in the United States. markets† paradox figures into Stan Shih’s strategy for China. Thoroughly determined what strategies Acer can apply to become the world’s third largest PC company, behind Dell and HewlettPackard. Thoroughly analyzed Acer’s prospects for gaining further share in the United States. 3. Determine what strategies Acer can apply to become the world’s third largest PC company, behind Dell and Hewlett-Packard. Weight: 20% 4. Analyze Acer’s prospects for gaining further share in the United States. Weight: 20% 5. 3 References Weight: 10% 6. Clarity and writing mechanics. Weight: 10% More than 6 errors present Does not meet the required number of references; some or all references poor quality choices. 5-6 errors present Meets number of required references; all references high quality choices. 3-4 errors present Exceeds number of required references; all references high quality choices. 0-2 errors present  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 7 of 17 MKT 505 – Assignments and Rubrics Case Study 2: America's Cuban Conundrum (Case 5-1) Due Week 4 and worth 240 points Write a 4-5 page report that answers the following: 1. Analyze the key issue that prompted the EU to take the Helms-Burton dispute to the WTO. 2. Decide who benefits and who suffers from an embargo of this type and explain your rationale. . Compose a resolution to the trade situation between the U. S. and Cuba. 4. Given that trade relations resume between the U. S. and Cuba, determine what type of economic barriers would have to be overcome by a U. S. firm to conduct business successfully in Cuba. Your assignment must: †¢ Be typed, double spaced, using Times New Rom an font (size 12), with one-inch margins on all sides; 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 page length. †¢ The specific Course Learning Outcomes associated with this assignment are: †¢ Analyze the major economic, cultural, and political/legal aspects of the international business environment, including the economic dynamics of foreign trade, impact of regional and global trade integration, and key cultural dimensions affecting marketing operations. Use technology and information resources to research issues in international marketing. Write clearly and concisely about international marketing using proper writing mechanics. †¢ †¢ Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 240 Criteria 1. Analyze the key issue that prompted the EU to take the Helms-Burton dispute to the WTO. Weight: 20% Case Study 2: America's Cuban Conundrum (Case 5-1) Unacceptable (Below 70% F) Did not submit or incompletely analyzed the key issue that prompted the EU to take the Helms-Burton dispute to the WTO. Did not submit or incompletely decided who benefits and who suffers from an embargo of this type and explain your rationale. Did not submit or incompletely composed a Fair (70-79% C) Partially analyzed the key issue that prompted the EU to take the HelmsBurton dispute to the WTO. Partially decided who benefits and who suffers from an embargo of this type and explain your rationale. Partially composed a resolution to the trade situation Proficient (80-89% B) Satisfactorily analyzed the key issue that prompted the EU to take the Helms-Burton dispute to the WTO. Satisfactorily decided who benefits and who suffers from an embargo of this type and explain your rationale. Satisfactorily composed a resolution to the Exemplary (90-100% A) Thoroughly analyzed the key issue that prompted the EU to take the HelmsBurton dispute to the WTO. Thoroughly decided who benefits and who suffers from an embargo of this type and explain your rationale. Thoroughly composed a resolution to the 2. Decide who benefits and who suffers from an embargo of this type and explain your rationale. Weight: 20% 3. Compose a resolution to the trade situation between the U. S. and  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 8 of 17 MKT 505 – Assignments and Rubrics Cuba. Weight: 25% resolution to the trade situation between the U. S. and Cuba. Did not submit or incompletely determined what type of economic barriers would have to be overcome by a U. S. irm to conduct business successfully in Cuba. More than 6 errors present between the U. S. and Cuba. Partially determined what type of economic barriers would have to be overcome by a U. S. firm to conduct business successfully in Cuba. 5-6 errors present trade situation between the U. S. and Cuba. Satisfactorily determined what type of economic barriers would have to be overcome by a U. S. firm to conduct bus iness successfully in Cuba. 3-4 errors present trade situation between the U. S. and Cuba. Thoroughly determined what type of economic barriers would have to be overcome by a U. S. irm to conduct business successfully in Cuba. 4. Given that trade relations resume between the U. S. and Cuba, determine what type of economic barriers would have to be overcome by a U. S. firm to conduct business successfully in Cuba. Weight: 25% 5. Clarity and writing mechanics. Weight: 10% 0-2 errors present  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 9 of 17 MKT 505 – Assignments and Rubrics Case Study 3: Carmakers Target Gen Y (Case 7-2) Due Week 6 and worth 240 points Write a 4-5 page report that answers the following: 1. Explain the strategy behind Asian automakers targeting Gen Y. 2. Analyze the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. 3. Determine the rationale behind Toyota's decision to limit the number of Scion vehicles available for sale. Do you agree or disagree? Provide a rationale. 4. Research current strategies that Ford and GM are using to cater to this particular market segment. Your assignment must: †¢ 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. †¢ The specific Course Learning Outcomes associated with this assignment are: †¢ †¢ †¢ Integrate the concepts of market segmentation, product development, and pricing policies into viable marketing strategy to fit a variety of international market environments. Use technology and information resources to research issues in international marketing. Write clearly and concisely about international marketing using proper writing mechanics. Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 240 Criteria 1. Explain the strategy behind Asian automakers targeting Gen Y. Weight: 20% 2. Analyze the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. Weight: 20% Case Study 3: Carmakers Target Gen Y (Case 7-2) Unacceptable (Below 70% F) Did not submit or incompletely explained the strategy behind Asian automakers targeting Gen Y. Did not submit or incompletely analyzed the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. Did not submit or incompletely determined the Fair (70-79% C) Partially explained the strategy behind Asian automakers targeting Gen Y. Partially analyzed the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. Proficient (80-89% B) Satisfactorily explained the strategy behind Asian automakers targeting Gen Y. Satisfactorily analyzed the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. Satisfactorily determined the rationale behind Exemplary (90-100% A) Thoroughly explained the strategy behind Asian automakers targeting Gen Y. Thoroughly analyzed the strategy behind Honda and Toyota creating new vehicles such as the Element and the Scion. 3. Determine the rationale behind Toyota's decision to limit the Partially determined the rationale behind Toyota's decision to Thoroughly determined the rationale behind  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 10 of 17 MKT 505 – Assignments and Rubrics number of Scion vehicles available for sale. Do you agree or disagree? Provide a rationale. Weight: 25% rationale behind Toyota's decision to limit the number of Scion vehicles available for sale. Provided a rationale for agreement or disagreement. Did not submit or incompletely researched current strategies that Ford and GM are using to cater to this particular market segment. More than 6 errors present limit the number of Scion vehicles available for sale. Provided a partial rationale for agreement or disagreement. Partially researched current strategies that Ford and GM are using to cater to this particular market segment. Toyota's decision to limit the number of Scion vehicles available for sale. Provided a satisfactory rationale for agreement or disagreement. Satisfactorily researched current strategies that Ford and GM are using to cater to this particular market segment. 3-4 errors present Toyota's decision to limit the number of Scion vehicles available for sale. Provided a thorough rationale for agreement or disagreement. Thoroughly researched current strategies that Ford and GM are sing to cater to this particular market segment. 0-2 errors present 4. Research current strategies that Ford and GM are using to cater to this particular market segment. Weight: 25% 5. Clarity and writing mechanics. Weight: 10% 5-6 errors present  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further d istributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 11 of 17 MKT 505 – Assignments and Rubrics Case Study 4: Advertising, Public Relations, and the 2008 Beijing Olympics (Case 13-1) Due Week 8 and worth 240 points Write a 4-5 page report that answers the following: 1. Analyze the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. 2. Assess the reasons why protesters and activists target events such as the Olympics. 3. Evaluate whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. 4. Analyze how well of a job the companies identified in this case did in anticipating and responding to the protests. Your assignment must: †¢ 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. The specific Course Learning Outcomes associated with this assignment are: †¢ †¢ †¢ Analyze an integrated marketing communication (IMC) strategy to support global marketing operations. Use technology and information resources to research issues in international marketing. Write clearly and concisely about international marketing using proper writing mechanics. Grad ing for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 240 Criteria 1. Analyze the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. Weight: 20% Case Study 4: Advertising, Public Relations, and the 2008 Beijing Olympics (Case 13-1) Unacceptable (Below 70% F) Did not submit or incompletely analyzed the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. Did not submit or incompletely assessed the reasons why protesters and activists target events such as the Fair (70-79% C) Partially analyzed the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. Proficient (80-89% B) Satisfactorily analyzed the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. Exemplary (90-100% A) Thoroughly analyzed the reasons why the Chinese government hired a Western public relations firm to work on the 2008 Beijing Olympics. 2. Assess the reasons why protesters and activists target events such as the Olympics. Weight: 20% Partially assessed the reasons why protesters and activists target events such as the Olympics. Satisfactorily assessed the reasons why protesters and activists target events such as the Olympics. Thoroughly assessed the reasons why protesters and activists target events such as the Olympics.  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 12 of 17 MKT 505 – Assignments and Rubrics 3. Evaluate whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. Weight: 25% Olympics. Did not submit or incompletely evaluated whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. Did not submit or incompletely analyzed how well of a job the companies identified in this case did in anticipating and responding to the protests. More than 6 errors present Partially evaluated whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. Partially how well of a job the companies identified in this case did in anticipating and responding to the protests. Satisfactorily evaluated whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. Satisfactorily how well of a job the companies identified in this case did in anticipating and responding to the protests. Thoroughly evaluated whether the opportunity to reach a global audience by advertising during the Olympics offsets the potential for bad publicity. Thoroughly how well of a job the companies identified in this case did in anticipating and responding to the protests. 4. Analyze how well of a job the companies identified in this case did in anticipating and responding to the protests. Weight: 25% 5. Clarity and writing mechanics. Weight: 10% 5-6 errors present 3-4 errors present 0-2 errors present  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 13 of 17 MKT 505 – Assignments and Rubrics Case Study 5: eBay in Asia (Case 15-2) Due Week 10 and worth 240 points Write a 4-5 page report that answers the following: 1. Analyze the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided 2. Compare and contrast the strategies used by Yahoo and eBay in their Asian market approach. 3. Assess what eBay’s shift to giving control of its main China operation to Tom Online signifies. 4. Formulate some additional strategies that eBay could use in the Asian market. Your assignment must: †¢ 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. †¢ The specific Course Learning Outcomes associated with this assignment are: †¢ †¢ †¢ Evaluate and adapt corporate marketing strategies to fit the changing dynamics of foreign markets and foster a competitive advantage. Use technology and information resources to research issues in international marketing. Write clearly and concisely about international marketing using proper writing mechanics. Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 240 Criteria 1. Analyze the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided. Weight: 20% Case Study 5: eBay in Asia (Case 15-2) Unacceptable (Below 70% F) Did not submit or incompletely analyzed the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided. Did not submit or incompletely compared and contrasted the strategies used by Yahoo and eBay in their Asian market approach. Did not submit or Fair (70-79% C) Partially analyzed the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided. Partially compared and contrasted the strategies used by Yahoo and eBay in their Asian market approach. Proficient (80-89% B) Satisfactorily analyzed the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided. Satisfactorily compared and contrasted the strategies used by Yahoo and eBay in their Asian market approach. Satisfactorily Exemplary (90-100% A) Thoroughly analyzed the key factors that have caused eBay to struggle in Japan, China, and other Asian markets to determine if these mistakes could have been avoided. Thoroughly compared and contrasted the strategies used by Yahoo and eBay in their Asian market approach. Thoroughly 2. Compare and contrast the strategies used by Yahoo and eBay in their Asian market approach. Weight: 20% 3. Assess what eBay’s Partially assessed 2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 14 of 17 MKT 505 – Assignments and Rubrics shift to giving control of its main China operation to Tom Online signifies. Weight: 25% incompletely assessed what eBay’s shift to giving control of its main China operation to Tom Online signifies. Did not submit or incompletely formulated some additional strategies that eBay could use in the Asian market. More than 6 errors present what eBay’s shift to giving control of its main China operation to Tom Online signifies. assessed what eBay’s shift to giving control of its main China operation to Tom Online signifies. Satisfactorily formulated some additional strategies that eBay could use in the Asian market. 3-4 errors present assessed what eBay’s shift to giving control of its main China operation to Tom Online signifies. 4. Formulate some additional strategies that eBay could use in the Asian arket. Weight: 25% 5. Clarity and Writing Mechanics. Weight: 10% Partially formulated some additional strategies that eBay could use in the Asian market. 5-6 errors present Thoroughly formulated some additional strategies that eBay could use in the Asian market. 0-2 errors present  ©2011 Strayer University. All Rights Reserved. This document contains Strayer Univer sity Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 15 of 17 MKT505 – Student Notes Weekly Course Schedule The purpose of the course schedule is to give you, at a glance, the required preparation, activities, and evaluation components of your course. For more information about your course, whether on-ground or online, access your online course shell. The expectations for a 4. 5 credit hour course are for students to spend 13. 5 hours in weekly work. This time estimate includes preparation, activities, and evaluation regardless of the delivery mode. Instructional Materials In order to be fully prepared, obtain a copy of the required textbooks and other instructional materials prior to the first day of class. When available, Strayer University provides a link to the first three (3) chapters of your textbook(s) in eBook format. Check your online course shell for availability. Review the online course shell or check with your professor to determine whether Internet-based assignments and activities are used in this course. Instructional materials are obtained through the university’s virtual bookstore and can be accessed through iCampus: http:bookstore. mbsdirect. net/strayer. htm. Courses with Internet-based assignments and activities on publisher sites may require the purchase of onetime access codes. When purchasing used textbooks, a separate access code purchase will be necessary. Discussions Students taking this course online are required to post their discussions to a weekly thread in the online course shell. Respond to at least two (2) other students’ posts to earn full credit for each discussion. As it is always possible that you could lose your work due to unforeseen circumstances, you should routinely save your work in a separate file before posting in the course discussion area. Professors hold discussions during class time for on-ground students. Check with your professor if any additional discussion participation is required in the online course shell outside of class hours. Assignments A standardized performance grading rubric is a tool your professor will use to evaluate your written assignments. Review the rubric before submitting assignments that have grading rubrics associated with them to ensure you have met the performance criteria stated on the rubric. Grades are based on individual effort. There is no group grading; however, working in groups in the online or on-ground classroom is acceptable. Assignments for online students are always submitted through the online course shell. On-ground professors will inform students on how to submit assignments, whether in paper format or through the online course shell. Resources The Resource Center navigation button in the online course shell contains helpful links. Strayer University Library Resources are available here as well as other important information. You should review this area to find resources and answers to common questions. Technical support is available for the following: †¢ For technical questions, please contact Strayer Online Technical Support by logging in to your iCampus account at https://icampus. strayer. edu/login and submitting a case under â€Å"Student Center,† then â€Å"Submit Help Ticket. † If you are unable to log in to your iCampus account, please contact Technical Support via phone at (877) 642-2999.  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 16 of 17 MKT505 – Student Notes †¢ For concerns with your class, please access the Solution Center by logging in to your iCampus account at https://icampus. strayer. edu/login and submitting a case under â€Å"Student Center,† then â€Å"Submit Help Ticket. † If you are unable to log in to your iCampus account, please contact the IT Help Desk at (866) 610-8123 or at mailto:[email  protected] edu. TurnItIn. com is an optional online tool to assess the originality of student written work. Check with your professor for access and use instructions. The Strayer Policies link on the navigation bar in the online course shell contains academic policies. It is important that students be aware of these policies. .  ©2011 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. MKT 505 Student Version 1118 (1016 9-27-11)    Page 17 of 17