Ford and Toyota Case Study Essay - 3959 Words

1a.Describe the history of Ford, its current business, operating sectors, and reportable segments. Ford Motor Company was incorporated in Delaware in 1919. They acquired the business of a Michigan company, also known as Ford Motor Company, which had been incorporated in 1903 to produce and sell automobiles designed and engineered by Henry Ford. They are one of the world’s largest producers of cars and trucks. They and their subsidiaries also engage in other businesses, including financing vehicles. They have two operating sectors: automotive and financial services. Within these sectors, their business is divided into reportable segments based upon the organizational structure that they use to evaluate performance and make decisions on†¦show more content†¦2a. What is the purpose of the Form Def 14A? A proxy statement is a statement required of a United States firm when soliciting shareholder votes. This statement is filed in advance of the annual meeting. The firm needs to file a proxy statement, otherwise known as a Form DEF 14A, with the U.S. Securities and Exchange Commission. This statement provides important information and is useful in assessing how management is paid and potential conflict-of-interest issues with auditors. 2b. What does â€Å"Def† stand for? â€Å"Def† stands for â€Å"definitive proxy statement†. 2c.What types of information does a proxy contain? According to Ford Def 14A: â€Å"A proxy is another person that you legally designate to vote your stock, if you designate someone as your proxy in a written document, that document also is called a proxy or a proxy card.† The proxy discloses important information about issues to be discussed at an annual meeting, lists the qualifications of management and board members, serves as a ballot for elections to the board of directors, lists the largest shareholders of a companys stock and provides detailed information about executive compensation. 3a. Who are the board members that are standing for election at Ford in 2010?Show MoreRelatedCase Study : Toyota And Ford Essay3044 Words   |  13 Pagesmakers and their respective crises and the critical management decisions that were made and their impact. Toyota and Ford as we all know have a very strong industry reputation as well as millions of loyal and faithful followers and owners of their vehicles; however, these two giants of the automobile industry had two of the most publicized cases in modern day history. From 1973 to 1975, Ford’s case involved the explosion of its Pinto s defective fuel system design which led to the death of 27 peopleRead MoreM3 Team Assignment: External Factor Analysis . By Team1491 Words   |  6 PagesBUAD 5907 (A2): Strategy January 29, 2017 â€Æ' Introduction The Ford Motor Company is a multinational automobile company that is headquartered in Dearborn, Michigan. They produce a wide range of vehicles that are sold around the world, and based on sales, they are the fifth largest automobile manufacturing company in the world (David David, 2017). This paper is a case study of the external factors that affect the Ford Motor Company’s strategic planning. It will use three tools to analyzeRead MoreLearning to Lead at Toyota1601 Words   |  7 PagesI. Executive Summary Toyota is one of the world’s largest car manufacturers which have a better approach on developing their product and management’s quality, reliability, productivity, cost reduction, sales and market share growth, and market capitalization. It is one thing to realize that the Toyota Production System (TPS) is a system of nested experiments which operations are constantly improved also known as Kaizen. It is another from TPS to have an organization in which employees and managersRead MoreToyotas Recommendation Response At The Worlds Largest Automobile Manufacturer1566 Words   |  7 PagesQ3: Toyota s recommended response to Volkswagen s ambition of becoming the world s largest automobile manufacturer, based on the analysis of current market trends, would be to somewhat disregard them, rather they should focus on developing their own competitive advantages that allowed them to achieve the title of market leader. Volkswagen plans to grow in Chinese and Indian markets (De Moraes, 2016). They also aim to double sales in America by 2018 (Kresge and Weiss, 2015), by following theirRead MoreMarketing Case Study : The Ford Fiesta Case1497 Words   |  6 PagesThe Ford Fiesta Case Study analyzes Ford’s reintroduction of a B segment car, the Ford Fiesta. In early 2009, Ford initiated a marketing campaign known as â€Å"The Fiesta Movement† to generate brand awareness prior to the car’s launch in 2010, launching one the world’s first solely social media driven campaigns. The case overview reviews the question Ford was forced to answer, â€Å"How to re-enter the type B car segment?† At the time, Ford was known publicly for the F series truck lines, who ranked top amongstRead MoreFord Motor Company Swot Analysis Essay1549 Words   |  7 PagesFord Motor Company SWOT Analysis Introduction Ford Motors is an American based company that was founded over a century ago back in 1903. Ford Motors is one of the most leading automobile manufacturers in the world and according to Forbes the company was the seventh largest car manufacturer in 2014. Ford Motors largely deals in the manufacture of passenger cars and light commercial vehicles and their production amounts to millions every year. Ford Motors operates around ninety manufacturing plantsRead MoreFord Pinto Case Study Essay797 Words   |  4 PagesAmanda Nevill Pinto Case Study February 6, 2012 1. Put yourself in the role of the recall coordinator for Ford Motor CO. It’s 1973, and field reports have been coming in about rear-end collisions, fires, and fatalities. You must decide whether to recall the automobile. A. Identify the relevant facts. In August of 1978 three teenage girls were driving a Ford Pinto and were struck from behindRead MoreStrategic Choices Made by Toyota706 Words   |  3 PagesStrategic Choices Made By Toyota Module 4-Case Study [Pick the date] Student Name Back in 1980s, Micheal Porters coined his four generic strategies which provided a new and extensive frame of looking at the way companies are operating and can gain competitive advantage over their rivals by using strategies best fit for their culture and industry structure. Porter suggested that a firm can gain a major market share by either having a cost leadership strategy, product differentiation orRead MoreEssay on Ford Hybrid775 Words   |  4 PagesPaper # 2 Ford Hybrid 09/13/2012 Abstract Which stages of the project life cycle are evident in the case study? Did Martens select the right two project managers in Patil and Wright? What are toughest challenges faced by the project manger’ during a high visability and high risk project? Would you like to have been involved with the Ford Escape Hybrid project? Paper # 2: Ford Hybrid The Ford Escape Hybrid program was the midterm step of the company’s steps of sustainability. TheRead MoreCase Study Toyota Motor Corporation Australia1739 Words   |  7 PagesASSESSMENT 3: Evaluation of business case Introduction and Summary of case study Introduction This report will critically examine a particular case of Toyota Motor Corporation Australia. The report provides a brief summary of the study and aims to identify and apply a set of criteria to evaluate Toyota’s possible decision in the adverse external environment, as well as make recommendations for a course of action in short-term and long-term based on the analysis of the external environment, the market

The Similarities and Differences of the 1920’s and 1950’s

Out of some of the most turbulent times in history have come the greatest ages of success and prosperity. The 1920’s and 1950’s are two eras that exemplify the spirit of triumph and wealth. In both decades, a nation thrilled by the victorious conclusion of war and the return of their loved ones from war entered into an age of capitalism and materialism, bolstering the economy and with it national pride. Some of features most common to the 20’s and 50’s were consumerism and the accompanying optimistic mindset, the extent to which new ideas entered society, and discrimination in terms of both sexism and racism. On the heels of war, new technology caused a decrease in prices of goods in the 1920’s and in the 1950’s the GI Bill increased†¦show more content†¦In the 1920’s this gap became more of a chasm as the nation’s youth entered the Jazz age, adopting the new styles of music and dress that accompanied it. Women wore sho rter skirts, smoked, drove cars, and sported new haircuts, and men went to new jazz clubs that played edgy music that was good for dancing. Overall the new lifestyle was a complete departure from the Victorian mode of living that preceded it, and it was rejected by the older generation as energetically it was embraced by youth. In the 1950’s a similar change took place as parents allowed their children to have more freedom, and religion was not as strictly enforced. The widespread availability of automobiles allowed teenagers to travel around more than they ever had, and the automobile provided teenagers a new place to be free from the observation of their parents, which enabled many new activities, like petting. Just as the youth of the 1920’s had Jazz music, teenagers in the 50’s began to bother their parents by listening to Rock ‘n’ Roll music, whose stars included the scandalous Elvis Presley and even African-American stars like Little Richard, showing that the music allowed youth to transcend race. Just as F. Scott Fitzgerald’s literature alarmed more conservative Americans with its description of the popular culture of the time, literature during the 50’s was similarly troubling, dealing with themes ofShow MoreRelatedSimilarities And Differences Between The 1920s And 1950s908 Words   |  4 PagesThe 1920’s were a very important era in America for better or worse. There were many issues in relation to race and how people of different ethnic groups were treated. African American had a cultural rejuvenation that being the Harlem Renaissance. The advent of the Ford Model T change the way how people traveled. Many may say an era like the 1950’s were highly comparable. Race related issues were on a decline as America as whole sought to be more accepting and the oppressed started to speak out onRead MoreComparing Tokyo And Auckland s Development1569 Words   |  7 Pagescomparing with Auckland. Tokyo’s population is approximately 13.35million with rapid urban growth. The land area of Tokyo is approximately 2,187km2. Tokyo was first established in 1869. Tokyo was originally named Edo (small fishing village) in early 1800’s. Tokyo was a part of the Musashi Province development. The early-18th century, there were not much transportation in Edo, including planes, trains and cars. The main transport mode was walking, boats or horseback. Any cargo transported by people, oxen/horsesRead More The Eye of the Hurricane986 Words   |  4 Pagesofficial languages: German, French, Italian, and Romansch (Facts About Switzerland). Since politicians tended to gravitate toward the concepts of order, law, and centralized authority, only socialists originally opposed Adolf Hitler’s ideas in the 1920s. However, after 1934, the racist Nazi agenda became apparent through their routine persecution of minorities. In light of the Swiss tradition of federal structure and democracy, the two viewpoints were irreconcilable. As a result, Swiss radio becameRead MoreA SELECTION OF PAST AP U.S. FREE RESPONSE QUESTIONS:3529 Words   |  15 PagesVirginia in the period from 1607 to 1750. (2005) 12. Geography was the primary factor in shaping the development of the British colonies in North America. Assess the validity of this statement for the 1600s. (2005 B) 13. Analyze the differences between the Spanish settlements in the Southwest and the English colonies in New England in the 17th Century in terms of TWO of the following: Politics Religion Economic development (2006) 14. Settlers in the eighteenth century AmericanRead MoreThe Impact Of Social Group Work On The Workplace1434 Words   |  6 Pagesindividuals though the interaction of others going through similar situtions. While it emerged after the first world war Clara Kaiser (1959) explains that there is not actual birth date to social group work (citied in Glasser Mayadas, 1986). During the 1920’s group work posed 3 major strands; the individual growing as part of the group, the group developing through specific goals and a way of changing the views of society through group experiences (Glasser Mayadas,1986). These strands are things thatRead MoreLiterary Analysis of â€Å"Sweat† and â€Å"Sonny’s Blues†1549 Words   |  7 Pagesthe key element of the story (Clugston, 2014). This essay will analyze â€Å"Sonny’s Blues† by James Baldwin and â€Å"Sweat† by Zora Neale Hurston in terms of individual versus individual, nature, society, and self, symbolism, figurative language, similarities and differences. In the short stories â€Å"Sonny’s Blues† and â€Å"Sweat† both of the main characters deal with an internal conflict of some sort. Sonny in Sonny’s Blues has to refrain from turning back to drugs after his release from prison; he is also facingRead MoreWhat I Attended A Concert1398 Words   |  6 PagesMe In,† â€Å"Rockin’ In Rhythm,† and â€Å"I’ve Got a Crush on You.† Although there were many diverse styles played throughout the concert, many songs performed are from the Tin Pan Alley, jazz or swing genres, all of which became popular between 1930 and 1950. 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Consider the Periods 1919-1928 and 1945-1950.1973 Words   |  8 Pages 4/1/10 Compare and Contrast United States foreign policy after the First World War and after the Second World War. Consider the periods 1919-1928 and 1945-1950. United States foreign policy has always been characterized by a commitment to free trade, protection of American interests, and a concern for human rights. Our founding fathers, specifically George Washington, are responsible for much of the influenceRead More Child Psychology Essay1880 Words   |  8 Pagespaper:   Ã‚  Ã‚  Ã‚  Ã‚  Child Psychology, study of children’s behavior-including physical, cognitive, motor, linguistic, perceptual, social, and emotional characteristics-from birth through adolescence. Child psychologists attempt to explain the similarities and differences among children and to describe normal as well as abnormal behavior and development. They also develop methods of treating social, emotional, and learning problems and provide therapy privately and in schools, hospitals, and other institutions

Legalized Gambling Essay Example For Students

Legalized Gambling Essay Legalized Gambling Have you ever wagered on a game? If so you were gambling and should have been fined. Gambling should be legalized in the state of Florida. The lawmakers, who have decided that it is evil for you and me to gamble, have justified it as a means to scam billions from citizens in order to compensate for their mismanagement of tax money. First they waste what they collect in taxes and then recover the wasted billions with gambling scams to get more, much more. Adding insult to injury, they pass laws that could put a taxpayer in jail for placing a dollar wager on a pool game. God forbid we should lose a few dollars to a slippery pool hustler, when we could be hustled legally by the state, Shamos has argued this point before (97-101). Gambling as with most ideas came from Europe. It evolved from simple bets to games of chance, later evolving to cards and etc. Some colonists such as the Quakers and Puritans lost little time in enacting America’s first law against gambling in 1638(Shamos 103). Gambling continued in the form of lotteries, which supported most schools and public works. During the late 18th century card games were enjoyed as a fashionable after dinner alternative to music in America’s homes. Supposedly during the late 1700’s every commoner gambled. George Washington at Valley Forge, where men were desperate for food and morale was low among the troops, gambling was a daily activity (Shamos 103). â€Å" A typical colonist in attitude was the untypical man George Washington who was content to gamble at cards all day† (qtd. in Solotaroff n.p.). As America grew gambling (casino) grew as well. One invention had the greatest impact on America than anything else, the slot machine. Invented by Charles Fay in 1895, in San Francisco, California. It made men greedy and the desire to gamble struck. In 1931 Nevada was asking itself â€Å"What do we got to lose†. The state passed laws that year legalizing gambling. The first major casinos were opened in Reno. The next 10 years until the 40’s was when Las Vegas really grew. â€Å"Clubs arose, neon lights soared the skies and entertainment engulfed the streets† (Cardoza 7-11). Las Vegas was like no other; it replaced currency with chips, around the clock gambling and nearly a total absence of clocks. After nearly 50 years in success Las Vegas finally took on a competitor. In 1978 the state of New Jersey legalized gambling (Cardoza 15-17). Does gambling help our economy? When gambling was approved in New Orleans it created 15,000 new jobs and brought in 25 million in city taxes. In addition, it also brought in 67 million in state taxes each year. When South Dakota needed $400,000 to replace water lines and another $50,000 to shape up a failing wall on the reservoir they turned towards gambling. â€Å"Nevada offers both tourism and gaming. If the customers want it, Nevada can and should deliver† (Dambrink 7-9). Casinos do in fact improve the economy of states. In Mississippi, gaming represented 25% to 33% of the new jobs created and employed approximately 10,000 people in 1993. The number more than doubled in 1994 to 28,000 (Solotaroff n.p.). On the Gulf Coast the economy can be summed up in one word, gambling. A report from the Harrison County Development Commission for fiscal year 1993 noted gambling has improved â€Å"economic stimulus unequaled in modern times† (Dambrink 16-18). Most if not all states already allow horse racing, bingo halls, jai alai, and state sponsored lotteries. The new craze is riverboat cruising. The rush to embrace casino gambling on riverboats began in Iowa in 1991. Illinois and Mississippi soon followed in 1992. By the end of 1993, 20 states had passed laws in favor of gambling. The legislative passed a law stating that a certain percentage of patron’s losses must go to the state. Thus increasing the state income greatly. â€Å"Many localities see gaming as an opportunity to invigorate deteriorated commercial areas†(Thompson 31-39). The Joliet Empress reported a casino win or adjusted gross receipts of 14.05 million for May 1993 alone. The city of Joliet received 702,500 for that month. Joliet now has 4 operating casinos. .u4b3a669c2752349aaf2097c525338f4e , .u4b3a669c2752349aaf2097c525338f4e .postImageUrl , .u4b3a669c2752349aaf2097c525338f4e .centered-text-area { min-height: 80px; position: relative; } .u4b3a669c2752349aaf2097c525338f4e , .u4b3a669c2752349aaf2097c525338f4e:hover , .u4b3a669c2752349aaf2097c525338f4e:visited , .u4b3a669c2752349aaf2097c525338f4e:active { border:0!important; } .u4b3a669c2752349aaf2097c525338f4e .clearfix:after { content: ""; display: table; clear: both; } .u4b3a669c2752349aaf2097c525338f4e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u4b3a669c2752349aaf2097c525338f4e:active , .u4b3a669c2752349aaf2097c525338f4e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u4b3a669c2752349aaf2097c525338f4e .centered-text-area { width: 100%; position: relative ; } .u4b3a669c2752349aaf2097c525338f4e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u4b3a669c2752349aaf2097c525338f4e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u4b3a669c2752349aaf2097c525338f4e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u4b3a669c2752349aaf2097c525338f4e:hover .ctaButton { background-color: #34495E!important; } .u4b3a669c2752349aaf2097c525338f4e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u4b3a669c2752349aaf2097c525338f4e .u4b3a669c2752349aaf2097c525338f4e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u4b3a669c2752349aaf2097c525338f4e:after { content: ""; display: block; clear: both; } READ: Torah Scripture Essay Paper Though the issue of legalized gambling will never be fully agreed upon, we can clearly see that casinos definitely benefit the economy. One major argument against gambling is that crime in the area will escalate. It does unfortunately, but with the money the casinos give to the state, this problem can and should be solved (Thompson 45). As Ivan Solotaroff said, â€Å"In the context of a strong gambling environment, casino gaming can be a patent development tool†(n.p.). One major public discussion against gambling can be seen through the religious aspect. In fact, the Catholic Church argues that gambling does not violate catholic teaching. Catholic teaching maintains that it is morally accepted when all of the following conditions are met: 1.The money or possessions wagered are not needed to support one’s family; 2.A person participates freely; 3.The revenues derived from gambling are not used to support any illegal or immoral enterprise. These conditions are stated by the Catholic Church (Saad n.p.). Lastly, the majority of the public does not consider gambling to be morally wrong. In the U.S. 2 of 3 Americans approve of legalized gambling (Saad n.p.). What Catholics are trying to say is that gambling is just another form of entertainment. It is difficult to predict the future of a major industry with such a short history, but with time there will be some form of gambling in all states if not casino gambling. Gambling will continue to aid the public education system and other economic programs. It will also continue to create jobs as casinos widen and spread. Furthermore, if casino marketers continue to succeed, the local tourism, visitor, and recreation industries will heighten and state income will escalate even further (Ugret 73-75). States will always continue to prosper from gambling, whether in the form of bingo, horse and dog racing, jai alai, or just casinos. If gamblers want to risk it all on one shot, it is their money, their profession, and their choice. Bibliography:Works CitedCardoza, Avery. Casino Blackjack. New York: Cardoza Publishing, 1981. 7-31. Dambrink, Jane. The Last Resort: Success and Failure in Campaigns for Casinos. Reno: University of Nevada Press, 1990. 7-18. Saad, Lydia. â€Å"Gambling Attitudes: Americans on Sports Betting†. Gallup Poll Monthly December, 1992. n.p. Solotaroff, Ivan. â€Å"The Book on Gambling†. Esquire. September, 1994. n.p. Thompson, William. Legalized Gambling: A Reference Handbook. Santa Barbara, Ca: ABC-CLIO, 1994. 31-45.Ugret, Carl B. House Rules. Boston: Penguin House Company, 1996. 73-75.

Marketing strategy of Rolex and McDonald

Introduction Marketing strategy of a company, in practice and theory, is often replete with gaps. Often, marketers have deviated from the theoretical principles to develop their own set of rules that they have dubbed more useful in marketing and selling their product.Advertising We will write a custom essay sample on Marketing strategy of Rolex and McDonald specifically for you for only $16.05 $11/page Learn More This paper is a case study analysis of Rolex. The main objective of the paper is to ascertain the gap in the marketing strategy and principles adopted by Rolex with that of the theoretical marketing framework presented by McDonald and using anatomy of world class marketing. WCM This analysis is done using the 10 points of world class marketing developed by Malcolm McDonald. The first point shows the market orientation of the company. The first point entails that it is the work of the company. It is the job of the top management to instill among its employees the ideal of customer orientation. In other words, customer orientation has to be enhanced in order to ensure greater possibility of creating products that would satisfy the customers. In case of Rolex, the company has historically paid a lot of attention to the product that they created. As the company sells luxury products, it makes sure that all the qualities of luxury are presented in the watches crafted by the company. Further, the customers should be made a vehicle for promotion. This can be attained only by making high quality products. A high quality product that satisfies the customers exceedingly would ensure that he/she promotes it to his/her peers. Rolex has achieved this through its quality and brand name. Thus, the first point of McDonald has been satisfied by Rolex’s marketing strategy. Rolex is a luxury watchmaker. The company is famous for its unique targeting, segmenting, and positioning of their product. However, with the change in the generat ions and ushering of the new generation who is more inclined towards new fast moving technology than a timeless timepiece, Rolex faces a challenge as to how they can attract these new emerging customers. In this section, we will first discuss the marketing strategy of Rolex. Usually companies carry out extensive research and analysis before formulating the four Ps of marketing – price, promotion strategy, place, and product. We undertake a thorough research of the marketing strategy and mix of Rolex.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The target customers for Rolex are both male and female. Targeting both the demographic section is advantageous and helps the company to spread its market. Rolex’s advertising strategy entails celebrity endorsements. In order to cater to a certain economic class the company meticulously positions itself targeting the rich and the one s who crave for â€Å"class† rather than â€Å"beauty† . This is evident from the taglines used in previous Rolex advertisements such as â€Å"Class is forever† . The products that are presently marketed by Rolex can be broadly divided into three collections – Oyster collection, new 2013 collection, and Cellini Collection. The oyster collection boasts of â€Å"elegance and prestige† and has twenty models in the collection. The second collection is the new 2013 collection of Rolex is a new collection of chronometers with cutting-age technology instilled in them to attract the new generations and retaining their old classiness. The third collection is the Cellini collection . The second point as enumerated by McDonald is to understand the sources of competitive advantage for the brand. McDonald has segregated this into three categories – superior position, skills, and resources. Superior position entails niche products with high degree of diff erentiation and concentration on pricing. The products are positioned in a niche market as luxury brand with high pricing. The watches sold by Rolex are priced high. The pricing strategy goes with their promotion and positioning strategy. Further, as their products are made with very expensive raw material and they happen to be fitted with the best quality technology. The high price is equivalent to the positioning of the product as a luxury item. Understanding the environment of the company has a specific implication on the marketing strategy of the company. An analysis of the macro and the microenvironment helps to ascertain the threats and opportunities that are present for the brand in the market.Advertising We will write a custom essay sample on Marketing strategy of Rolex and McDonald specifically for you for only $16.05 $11/page Learn More In case of Rolex, the threat is the aging demographics of the target market of the brand. With aging populat ion, the taste and preference of people are changing considerably, which has inculcated a threat to the organization’s product demand . Thus, the aim of Rolex should be to target younger target market Luxury brands have swept over to the emerging economies. All marketers of different luxury items from automobiles to wristwatches have started targeting the developing, emerging market of the Asian giants like China and India . According to the predictions of analysts by 2018, Asia Pacific will be biggest market for luxury goods . This presents a unique opportunity for luxury watch brands. The fourth point that is enumerated is to understand one’s competition. The company should categorically understand who their direct and potential competitors are. Further, they should also be aware of the substitutes, backward and forwards integration competitions, and of the competitor’s strength and weaknesses. The major potential of Rolex is that it is in the luxury brand mar ket, which is highly driven by brand loyalty and recognition. The direct competitors of Rolex are other brands like Omega, Longines, Cartier, Chanel, Patek Philippe, etc. Figure 1: Rolex is the market leader in luxury watch market Further, Rolex faces the threat of fake products in the market. This provides a stiff competition in price-sensitive Asian markets.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The fifth is to understand the market segment. The market segment that the company has placed its product in is the luxury market, and the prices are high as they are placed in the luxury market. Rolex watches are branded as a symbol of superiority. For instance, older advertisement campaigns of the company had tag lines like â€Å"If you were looking for lost empires here tomorrow you’d wear a Rolex† . The positioning of the products is that of excellence and symbol of success. The promotional strategy of Rolex can be categorized into following classes – Advertisements in televisions Print advertisements in magazines and newspapers. Sponsors of gaming events like Wimbledon Embedded advertisements in movies like those of James Bond In television, the advertisements are usually placed in the lifestyle or sports channels showing major sporting events like tennis and golf. Usually Rolex advertisements accompany airing of James Bond movies. Rolex spends most in ne wspaper and magazine advertisements. Promotions help companies to familiarize their products to the customers. However, what is promotion to a luxury brand like Rolex? The promotional strategy of Rolex is to sell the idea of the class that Rolex attaches to itself. Rolex is not promoted as just a brand, but as a way of life, as class, as society. For instance, the Oyster models of Rolex was first introduced in 1926 as the first waterproof watches and since then has clad the wrists of many famous personalities but as timeless is the brand the essence of the clean, utilitarian design of Rolex has not lost its edge . The tables below show advertisement expenditures of Rolex and its competitors in magazines and newspapers. Figure 2: Advertisement Expenditure The sixth point is ascertaining the strength and weakness of the brand. In this case, Rolex’s strength is its product’s unique style and positioning. The weakness of the brand is its present appeal to the older targe t customers, and inability to target newer generations. The seventh point is to understand the dynamic market for the product, i.e. to conduct a life cycle analysis. Life cycle analysis helps in ascertaining the position in the life cycle where the product lies. The eighth point suggested by McDonald is to have a strong portfolio of products. The products that are offered by Rolex are unique and timeless. Their appeal is great as each are made differently and crafted in different styles. The ninth point shows that a company should formulate a strategic marketing policy and stick to it. In case of Rolex, the company has adhered to its niche marketing strategy since the beginning and therefore its charm and demand has not faltered. The last point presented appeals to the companies to maintain a professional attitude in promoting and marketing its products. It is important for the company to understand all the above marketing tools and continually evaluate its products using these tool s in order to make predictions of any impending changes in future. Marketing Leadership Council (MLC) Marketing leadership council is the new-age marketing tool that helps marketing leaders to change the way they have so far addressed the long-standing conventional wisdom. MLC is usually associated with the corporate executive board. The main areas that the MLC program looks into are – research, peer benchmarking, networking, online learning, best practices, support system, and diagnostic tools. The main aim of the council is to help its members to benchmark their performance, risk factors, operational process, human resources, and transition of leadership. The MLC has provided certain aspects of business through their researches, which helps companies to benchmark their performance. This model enumerates the need to enhance presence in social media. They believe more customers can be influenced through promotions in the social media. In case of Rolex, the presence of the com pany remains scant in any of the social networking websites. Very few online campaigns have been launched by Rolex so far. One reason may be that the target customers are not same as the social network users. However, one must note that in order to target newer generations, Rolex must embrace innovative methods of marketing that other companies have already started to embrace. The idea of MLC is not to teach the customers but to un-teach them. MLC dictates that marketers should strive to un-teach what customers already know about the product or brand. However, in case of Rolex, this rule may not apply, as the basis of Rolex’s success is what the customers already know about the brand. Un-teaching that would deplete their existing brand name. the idea of the company was to make sure that the perception of the customers is properly molded through previous advertisements, which, unfortunately, the MLC model suggests to change. Therefore, this differs from the WCM point, which st ates that the brand should utilize its core competencies. In this respect, the question that arises is, if the niche promotional strategy adopted by Rolex following the WCM model is apt for the company today. The question that arises is why does Rolex follow a niche promotional strategy? The answer to the question is simple – Rolex’s product and positioning does not support and/or demand a mass-marketing strategy. Niche promotional strategy is apt for a brand like Rolex that sells only luxury items and that too, to a niche target market. Conclusion The overall analyses of the two models demonstrate that Rolex has been following the WCM model more closely than the MLC model. The WCM model is more theory oriented while MLC is more application oriented. The company’s present marketing strategy demonstrates that they have continued to follow their old strategy and have not undertaken any effort to embrace the new age marketing principles. This has intensified their problem of targeting new age customers. Based on the above study it can be intuitively said that Rolex needs to change the way their marketing team thinks and perceives their brand. References Adams, A 2013, Wrist Watch Brands Models Of High Value, http://www.forbes.com/sites/arieladams/2013/01/10/wrist-watch-brands-models-of-high-value/. Forster, J 2012, The Rolex Problem, http://www.forbes.com/sites/jackforster/2012/09/03/the-rolex-problem-a-semi-rational-look-at-the-worlds-most-recognized-watch/. 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OyesterInfo 2013, Rolex Advertisments, http://www.oysterinfo.de/en/werbung/index.php. Rolex 2013, About Rolex, http://www.rolex.com/about-rolex/rolex-history/1905-1919.html. Wall Street Week 2013, Emerging Markets Drive Luxury Goods, http://www.wallstreetweek.com/emerging-markets-drive-luxury-goods/. Wang, L 2013, Luxury Sales to Exceed $318 Billion, Driven by Emerging Markets and ‘Affordable Luxury’, http://www.businessoffashion.com/2013/10/euromonitor-coach-michael-kors-louis-vu itton-versace-fflur-roberts.html. This essay on Marketing strategy of Rolex and McDonald was written and submitted by user Matilda B. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.