Tag: Strategy

  • Real estate Marketing Strategy in Hainan

    Real estate Marketing Strategy in Hainan

    Analysis of Real Estate Marketing Strategy in Hainan. With the rapid socio-economic development, people have put forward higher requirements for a high-quality life, which has led to the rapid development of tourism and real estate. As a popular real estate project at present, tourism real estate relies on high-quality tourism resources to enhance the value of the real estate. As a well-known tourism province in our country, Hainan has vigorously developed the real estate industry while developing tourism. Its superior geographical location has driven the rapid development of the real estate industry in Hainan. Taking Hainan as an example, the article analyzes the current situation of Hainan’s real estate development, puts forward the existing problems in marketing at this stage, and expounds on rationalized solutions.

    Here are the articles to explain, Hainan Real Estate Marketing Strategy, development, and Problems!

    The tourism industry and Today Real Estate industry are the two most popular industries in our country. Relying on local high-quality tourism resources, tourism real estate has developed rapidly in recent years. Hainan is rated as the most livable place in China, and also many people come to Hainan for vacation every holiday. Since 2004, the development of the real estate industry in tourist areas has been in a sensitive period, and the sales volume of real estate has shown a trend of increasing year by year. Nearly half of the buyers are foreigners, which has driven the rapid development of Hainan’s real estate industry and promoted Hainan’s tourism and vacation functions to be fully utilized, thereby forcing the growth of the restricted economy.

    The current situation of Hainan’s real estate development

    The proposal for the construction of an international tourism island has led Hainan’s real estate industry into a new stage of development and also promoted the rapid development of Hainan’s real estate and tourism industry. Through the analysis of the development and investment situation of Hainan real estate in 2018. It can see that the total investment from January to April was 54.359 billion yuan, an increase of 11.5%. The total sales area of houses was 6.6117 million square meters, down 27.4% year on year. To ensure the stability of the real estate market, the Hainan Provincial Government has introduced a series of market policies.

    The total amount of residential investment has greatly decreased, and also the total amount of operating real estate investment has shown an upward development trend, which has promoted the continuous optimization of the investment structure of real estate development. From January to April, the largest real estate investment project in Hainan real estate was Sanya Haipo Jincheng Country Garden, with a total investment of 2.02 billion yuan. Judging from the distribution area of Hainan’s real estate, the eastern region has a large amount of real estate development investment, with a development investment of 45.097 billion yuan, an increase of 20.3%, which has played an important role in driving the development of Hainan’s real estate industry.

    Other things

    Through the understanding of the sales area of houses, it can see that there is a gradual downward trend. From January to April, the total sales area of houses was 7.2082 million square meters, a decrease of 33.2%. Sanya and Haikou are the areas with the best real estate development in Hainan. In addition to the above two regions, the sales of commercial housing in Wuzhishan, Qionghai, Wenchang, Baoting, Lingshui, and other cities have also shown an upward trend year by year, and the real estate industry in Hainan has shown a good market trend.

    Based on its geographical advantages, Hainan has also vigorously developed vacation and leisure tourism areas such as Tongguling, Shimei Bay, Haitang Bay, and Shenzhou Peninsula, with a total investment of 7.625 billion yuan. The construction and development of the international tourism island have brought a positive impact on the development of Hainan’s real estate industry, promoted the improvement of Hainan’s international tourism reputation, improved the effect and quality of tourism island construction, and promoted the continuous improvement of Hainan’s real estate market and gradually developed in the direction of internationalization.

    Problems in Hainan Real Estate Marketing

    (1) The scenic environment has stood destroyed.

    The reason why tourist attractions can develop rapidly and attract many tourists is mainly that tourist attractions themselves have vacation, sightseeing, and leisure functions. However, in the development process of the real estate industry in Hainan, there is excessive emphasis on the economy, overexploitation of the resources of the tourist area, and the commercial atmosphere is too strong. The simple, natural, and quiet atmosphere of the tourist area has stood destroyed. Breaking the natural environment of the tourist area and also causing certain obstacles to the development of tourism in scenic spots.

    (2) The planning pattern of the tourist area has stood destroyed.

    To promote the rapid development of resort areas and tourist attractions in Hainan. Furthermore, It is necessary to do a good job in the development and planning of tourist areas. However, in the actual development process of tourist areas, there are more out-of-control development situations. For example, Yalong Bay is a famous tourist resort area in Hainan.

    To pursue economic development, real estate developers have overexploited local tourism resources and established more commercial housing, resulting in a sharp decrease in the number of local tourism resources. Moreover, when these commercial houses were under construction. Also, The construction work does not carry out in strict accordance. With the requirements of the national real estate project development. Which caused some damage to the original planning pattern of the tourist area.

    (3) The market positioning of real estate projects is not accurate.

    As the pillar industry of Hainan’s economic development, the real estate belongs as an intermediate product. Which is in a class of intermediate products of tourism, the vacation industry, and real estate products. However, through the understanding of the development of Hainan’s real estate. Also, It can see that there is a situation of unclear market positioning at this stage. Most real estate projects stand mainly aimed at foreign residents.

    Through the understanding of the basic configuration of real estate. Furthermore, It can see that compared with ordinary real estate projects, more attention is paid to the construction of entertainment and leisure projects, approaching tourism and vacation. But the design work does not been carried out in strict accordance with the design requirements of tourism and vacation. From the surface of the real estate project, the difference from ordinary residential buildings is not obvious.

    (4) Blind development of real estate projects.

    Through the understanding of the development situation of real estate projects in Hainan. Also, It can see that there are many irrationalities in development and design. The project has not stood scientifically demonstrated in the design process. But adopts blind development methods, resulting in some projects. They do not meet the characteristics of regional development and lack cultural taste, resulting in the low value of real estate projects.

    For example, Tianyahaijiao, an iconic landscape in Hainan, attracts a large number of people every year. But when designing scenic area projects, the overall design of the project is lagging. And there are many defects in management methods and management methods. Which have a greater impact on the implementation and development of real estate projects.

    Concept of Real Estate Marketing Strategy in Hainan

    (1) Establish a good brand.

    The brand has a catalytic effect on enhancing the marketing volume of the real estate industry. It is the logo of a real estate company and the intangible treasure of the real estate industry. It consolidates the position of the real estate industry in the market, attracts more financing, and drives the improvement of the economic efficiency of enterprises.

    • Suppose Hainan’s real estate industry wants to establish a good brand. In that case, it should first increase the number of participants in various large-scale real estate exhibitions, promote the company’s real estate at the exhibitions, and show the company’s good corporate image to the public.
    • Secondly, brand maintenance as a long-term work of the enterprise should incorporate into the overall management of real estate projects. So that the brand can gain more competitive advantages for the enterprise.
    • Finally, the brand of a real estate enterprise should be “both internal and external” and “both famous and real”. To be able to provide users with good service and establish a trusted real estate brand.
    (2) Reflect humanistic feelings.

    If the real estate industry wants to achieve sustainable development. It should adhere to people-oriented, and incorporate culture into real estate marketing. And combine cultural heritage with real estate projects to bring good enjoyment to residents. The current real estate industry is in the buyer’s market. It insists that “the customer is God” and should establish a good relationship with the customer to make the customer feel warm and caring when providing services to the customer. At the same time, the manifestation of humanistic feelings stands also manifested in the need to provide customers with greater convenience, actively serve customers, and enhance their service functions.

    (3) Real estate sales staff improve their professional knowledge.

    Since most real estate consumers have little knowledge of real estate. Their understanding is limited to the concept of “one house”. Therefore, it requires that real estate sales personnel themselves should master strong professional knowledge, and actively participate in real estate knowledge training. Also, carry out related real estate knowledge lectures to understand that they can have a full understanding of the industry.

    After understanding a certain amount of professional knowledge. When selling real estate to customers, it is possible to analyze real estate from a professional perspective. Which realizes the effective promotion of the corporate brand. This helps to enhance the public’s recognition and enhance the public desire to buy. And also promote the steady progress of the real estate market. Strengthen environmental protection. With the improvement of people’s requirements for the quality of life. Higher requirements have been put forward for the quality of the living environment.

    At present, real estate in Hainan uses green space coverage as the main selling point of real estate. The marketing concept is environmental protection, the values are green culture, and the marketing strategy is green marketing. To improve the effect of green marketing. It is necessary to carry out a brief green space planning for real estate projects. Strictly adhere to the concept of green energy-saving housing, and apply it to green marketing. Which will help improve the effectiveness of environmental protection. It can see that green energy-saving housing has become a new trend in the current residential development.

    Conclusion

    The reason why Hainan’s real estate industry has been able to achieve good development is directly related to the local solid characteristics and high-quality natural resources. Which meet people’s values, aesthetics, and personality development requirements. Hainan is a good choice for people with leisure and vacation needs. The buildings were designed with the desire to be close to nature in mind. And the relationship between the ocean and the buildings stands effectively handled, creating a comfortable life for people.

    Real estate Marketing Strategy in Hainan Image
    Real estate Marketing Strategy in Hainan; Photo by Yubin Zhou on Unsplash.
  • Hainan tea culture tourism innovative marketing strategy

    Hainan tea culture tourism innovative marketing strategy

    Hainan tea culture, With the continuous economic growth of our society, the domestic ecological environment has gradually suffered more and more serious erosion. If our country wants to be able to develop its economy more sustainably and healthily in the future. It must focus on the development of tourism culture and the tourism economy. The tourism economy is an important key node to promote the sustainable development of our society. If our country can effectively build existing tourism resources and make full use of existing assets. It will inevitably be able to put both economic growth and environmental protection in the bag in the future.

    Here are the articles to explain, and Discussion on innovative marketing strategies for Hainan tea Culture Tourism

    This article mainly discusses the innovative marketing strategies of Hainan tea culture tourism, and combines some related events for a certain degree of analysis, hoping to play a corresponding role in promoting the development of our country’s tourism economy. Tea culture is a unique cultural industry in Hainan, and it is in the context of our country’s vigorous promotion of sustainable development.

    Home Strategy Page 2

    Now Hainan’s tea culture is gradually existing cultivated and nurtured as a local tourism culture. Tea culture, as an industry that cannot ignore in the development of Hainan’s tourism culture, our country should pay timely and effective attention to social and market trends to ensure that Hainan’s tea can effectively sale to the outside world, and at the same time, it can also ensure that Hainan’s tea culture tourism can have a basic guarantee of the number of tourists.

    Today, if we want to effectively promote the development of Hainan’s tea culture and tourism economy. We should actively innovate the marketing methods of the relevant tourism economy. Innovative marketing of tea culture tourism Innovative marketing is simply to replace a relatively novel marketing method, marketing concept, and marketing ideas to effectively promote the development of the tourism economy.

    In this day when people’s material needs are constantly expanding, the effective development of Hainan tea cultural tourism can also effectively cater to the current tourism needs of the people. So that the proportion of our country’s tourism economy in the market can be continuously increased. And the sustainable development of our country’s economy can be better promoted.

    The meaning of tourism innovation marketing

    Innovative tourism marketing is still a relatively novel event for our country, and many people have not been able to truly and effectively recognize its advantages and advantages for our country’s economic development. At present, tourism innovation marketing in our country is only in the initial stage of development. The main areas where tourism innovation marketing is implemented in our country are Hangzhou, Yunnan, and other regions.

    These regions rely on their tea varieties with market advantages to carry out related tea tourism culture. It generally builds tea culture and tourism facilities around its dominant tea species. For example, Hangzhou’s main tea brand is West Lake Longjing. So people in this area generally build around the tourist direction of the tea garden. At the same time, it will also establish some tea culture memorials related to the development history of West Lake Longjing.

    Definition of tourism innovation marketing

    There will also be related tourism economic development around the collection and production of tea. This allows tourists to experience the collection and production of tea firsthand and can enable tourists to have a deeper understanding of tea. The various links introduced above are the basic model of innovative marketing in the current tourism economy. Its main content is novelty and experience, and the relevant experience of tourists is the main way to innovate marketing methods. To better drive the continuous growth of our country’s tourism economy. So that our country’s economic development can be more inclined to long-term sustainable development.

    With the continuous progress of our country’s science and technology, our country can now also use some of the more advanced technologies in society to enable innovative tourism marketing in our country. If advanced technologies such as 5G, VR, and AR can integrate into our country’s tourism culture. It will inevitably be able to effectively promote the continuous growth of our country’s tourism economy.

    In summary, tourism innovation marketing is to continuously absorb advanced knowledge. And technology from society to promote the development of our country’s tourism economy promptly. Only by continuously absorbing new things can we effectively promote the continuous progress and development of our country’s tourism economy.

    The significance of innovative marketing of Hainan tea cultural Tourism products

    Innovative marketing of Hainan tea culture tourism products can not only effectively promote the development of Hainan’s tourism economy. But corresponding product marketing innovation can also effectively promote an increase in product sales. At the same time, when product sales increase. It can also effectively enable Hainan’s local tea culture to better achieve more effective brand promotion at home and even abroad.

    The most important significance of the innovative marketing of Hainan tea culture tourism products is to play an exemplary and leading role for other regions of our country with corresponding conditions. As long as Hainan’s tourism economy can effectively be driven by the innovative marketing of its tea culture products. Other regions of our country will consciously follow up in the innovative marketing of tourism products. In this way, it can better promote the innovation of the marketing model of our country’s tourism economy. And it can also more effectively promote the rapid development of our country’s tourism economy.

    The resource characteristics of Hainan’s main tea-producing areas

    Although the area of Hainan Province is not large in China. However, because of its mountainous characteristics, it has many tea-producing areas. Nowadays, there are five main tea-producing areas in Hainan, namely the Wuzhishan-producing area, Qiongzhong tea-producing area, Baisha tea-producing area, Baoting tea-producing area, and Anding tea-producing area.

    (1) Wuzhishan tea-producing Area

    Wuzhishan is the highest mountain range in Hainan Province, with an altitude of roughly 1800m. Its altitude provides a unique environment for the production of tea. At the same time, since Hainan Province is in the southern part of our country, Wuzhishan can easily intercept the water vapor from the south to form a certain degree of rainfall, which can effectively provide sufficient moisture for the growth of tea.

    The slope of Wuzhishan is also very suitable for the growth of tea. The appropriate slope can be drained in a timely and effective manner, and the roots of the tea tree can be effectively prevented from being flooded by rainwater. Its high altitude can also provide a more suitable environment for the production of a variety of tea varieties. Such as black tea, green tea, bitter ding tea, and other tea species that can grow well on Wuzhishan.

    (2) Qiongzhong tea-producing Area

    Qiongzhong has a tropical forest with a small degree of machine–made damage. At the same time, the average annual temperature in Qiongzhong District is also more suitable and stable, basically maintaining at about 22 degrees Celsius. This relatively mild and humid environment is very conducive to the growth of tea. In addition, there are many celebrations and festivals in Qiongzhong District, which can also effectively promote the sale of tea.

    (3) Baisha tea-producing area

    The Baisha production area has the largest crater in Asia, and its terrain is also very conducive to the growth of tea. A certain slope of the crater can effectively drain the water. At the same time, water bodies can continue to gather at the bottom of the crater. Which can provide a certain water supply for the growth of tea, and can effectively promote the growth and maturation of tea. At the same time, farmers in this area have a long history of growing tea and have relatively rich experience in tea planting. Which can effectively guarantee the tea planting process to a certain extent.

    (4) Baoting tea-producing area

    Baoting tea-producing area is located at the southern foot of Wuzhishan Mountain. Compared with other tea-producing areas, its precipitation and temperature are not easy to compare with other tea-producing areas. In the tea-producing area of Baoting, the high temperature and humidity environment can effectively prevent the occurrence of pests and diseases. So local tea farmers rarely use pesticides to ensure the normal growth of tea. Therefore, in this case, the tea produced must also have a higher quality.

    (5) Anding tea-producing area

    Anding is located in the northeast of Hainan Province, adjacent to Haikou City, and it is rich in volcanoes nearby. A long time ago, the volcanic ash ejected by the volcanic eruption effectively enhanced the local fertility. Making the soil in Anding District particularly suitable for tea cultivation. At the same time, because Anding District and Haikou City are relatively close, the tea produced can sale more conveniently. Which is equivalent to providing a guarantee for local tea production.

    Suggestions for innovative marketing strategies for Hainan tea culture Tourism

    (1) Take the market as the center and identify the marketing platform

    If our country wants to effectively promote the innovative sales of tourism and cultural tourism in Hainan. It should first identify the main marketing directions. At the same time, our country should also effectively identify its clear market positioning. To be able to more effectively promote the development of the Hainan tea culture and tourism economy. If we want to effectively promote the innovative tourism marketing of Hainan tea culture. We should also find a more effective marketing platform so that we can more effectively promote the related sales of Hainan tea products.

    In the current social context, our country should promptly let the innovative sales of tea culture tourism in Hainan, our country, catch a ride on the “Internet plus”. So that it can not only effectively promote the related sales of our country’s tea products. But also promote the effective dissemination of our country’s tea culture in a timely and effective manner. While achieving the cost-effective growth of tourism. It can also effectively promote the spread of the tea industry culture in our country.

    (2) Innovative tea cultural tourism products

    To effectively promote the relevant marketing of tourism innovation in our Hainan tea industry. We should also carry out some relevant preparatory work in brand building. The brand effect of the product has a great market effect, so our country should pay more attention to this aspect. For example, West Lake Longjing, Pu’er, Golden Bud, Biluochun, Tieguanyin, etc. Which are now in the tea market, are all the more famous tea brands in the tea market today. They not only play a certain role in promoting the sales of tea products. But also can effectively promote the reputation of tea products. A powerful start.

    (3) Promote integration and development and implement overall regional marketing

    To effectively promote tourism innovation and marketing of tea products. The sales resources of the market should also be effectively integrated. As long as the sales market is effectively integrated with resources. It can effectively promote the relevant development of China’s tea industry.

    At the same time, if our country wants to effectively promote the relevant integration of market resources in our tea industry, it should also establish a relevant management agency in time to carry out corresponding integration supervision, so that our tea market can be more effectively integrated with more effective resources, and our tea industry can be more effectively promoted to achieve better overall marketing.

    In the context of the prevalence of tea tourism culture in our country, only by carrying out relevant innovative marketing reforms more effectively and actively integrating our tea industry market can we more effectively promote the related development of tea culture tourism in our country.

    To this end

    The country should and must actively explore the history, stories, customs, and characteristics of tea culture. To be able to more effectively make the Hainan tea culture implemented today more diversified. At the same time, our country should also promote Hainan’s tea culture tourism to a certain extent. To be able to truly and effectively promote the innovative tourism and sales of our tea culture products and to better achieve the long-term sustainable development of our economy.

    Hainan tea culture tourism innovative marketing strategy Image
    Hainan tea culture tourism innovative marketing strategy; Photo by 五玄土 ORIENTO on Unsplash.
  • Business Accounting and Management Strategy

    Business Accounting and Management Strategy

    Essay Discussion on Business Accounting and Management Strategy of Modern Enterprises. Commercial accounting is an important part of modern enterprise management, and it is also the soul of an enterprise. It occupies a very important position in the development of an enterprise. In recent years, as my country’s reform and opening up have continued to increase, the economic and trade exchanges between China and other countries in the world have become more and more frequent, and China’s developmental economic policies have attracted more and more foreign investment. The degree of domestic enterprises participating in the market competition has also increased significantly.

    Here are the articles to explain, A Brief Discussion on Business Accounting and Management Strategy of Modern Enterprises Essay.

    Modern enterprises have shown signs of diversified development in cross-industry, cross-ownership, and cross-domain aspects. Which greatly promotes the vigorous development of modern enterprises in my country. In such an era background, the traditional accounting management system appears to be unable to meet the needs of the market economy development, and various problems have also appeared in the actual enterprise management. Modern enterprises are faced with the dual pressure of domestic and international competition.

    How to maintain long-term and stable development in the market competition. And how to make the business accounting management system a powerful driving force for enterprise development have become important issues that modern enterprise management has to face and solve. . After my country entered the WTO, cooperation with other countries in the fields of economy, technology, culture, and politics has gradually increased. Our country’s open economic policy has attracted a lot of foreign investment, and multinational enterprises. And Sino-foreign joint ventures have sprung up like mushrooms after a rain.

    This favorable economic situation provides a rare opportunity for the development of domestic enterprises. But it also makes domestic enterprises face huge challenges. They have to face the pressure of domestic market competition and seize a place in the international market. Therefore, to achieve long-term development in today’s market environment, modern enterprises must continuously improve and innovate in all aspects of enterprise internal management. As the core content of modern enterprise management, the commercial accounting system should also take corresponding management measures. . This paper analyzes the relevant content of modern enterprise commercial accounting. And proposes relevant measures to improve modern enterprise commercial accounting management.

    An overview of business accounting management

    In modern enterprise management, the accounting management system undoubtedly occupies an extremely important position. It controls the economic lifeline of the enterprise and is indispensable. And important content in the process of production, operation, and development of the enterprise.

    Commercial accounting management refers to systematic, continuous, comprehensive, and comprehensive reviews. And the recording of the capital in and out of enterprises through capital statistics, double-entry bookkeeping, accounting, and currency measurement. And other methods are based on the development of modern commercial enterprises. , supervision, and internal economic management activity. Also, a professional knowledge system to improve the economic benefits of the enterprise.

    Commercial accounting is mainly aimed at commodity circulation enterprises. It conducts accounting and management through the purchase, sale, and storage of circulating commodities escorts the commodity circulation of enterprises, and achieves the purpose of serving enterprise management.

    The characteristics of business accounting management

    The support type of business accounting management in modern enterprise management

    In the various experience activities of modern enterprises, capital management is an extremely important link. It is the economic basis for enterprises to carry out various business activities. And the capital management and financial management of enterprises must be established based on various business activities of the enterprise. It must also be based on the business activities of the enterprise. The two are interrelated and inseparable. From this aspect, business accounting management provides important support for the management and development of modern enterprises.

    The dynamic nature of business accounting management in enterprise management

    The ultimate purpose of business accounting management is to improve the economic effect of the enterprise. And promote the long-term and stable development of the enterprise. It essentially serves the management and development of the enterprise. Today, with the rapid development of the market economy, modern commercial enterprises are faced with dual pressures from home and abroad, and must constantly improve their management. Therefore, business accounting management must also continue to innovate and reform and make reasonable decisions for the development of enterprises from a long-term perspective. planning, to realize the dynamic management of business accounting for enterprises.

    The fullness of business accounting management in enterprise management

    As an important part of modern enterprise management, business accounting management is not an independent individual. It has a close relationship with enterprise leaders, management, and various functional departments. From a horizontal perspective, business accounting management is inseparable from the cooperation and support of various departments of the enterprise, and it also plays an important role in all aspects of enterprise management. From a vertical perspective, business accounting management requires close unification and coordination among managers of financial departments, various staff, and enterprise managers. Therefore, commercial accounting management has a strong hospital-wide character in the operation and management of modern enterprises.

    Reciprocity of business accounting management in enterprise management

    At different stages of enterprise development, the accounting management system has different support for enterprise development, and there are also great differences in the way it acts on enterprise management. However, fundamentally speaking, the subjective wishes of enterprise managers are to improve the economic benefits of the enterprise and maintain the long-term and stable development of the enterprise, especially in the face of financial risks, the importance of business accounting management is more prominent, it needs Reciprocal responses to various financial risks.

    The important position of commercial accounting management in the process of modern enterprise management

    Business accounting management can escort the development of modern enterprises at different stages

    In the early stage of enterprise development, the biggest problem faced is the problem of capital and production. The focus of business accounting management is also on fundraising and ensuring the smooth development of the production and operation process; in the mature stage of enterprise development, business accounting management can be used to a large extent. To ensure the safety of enterprise funds and improve the economic benefits of enterprises; even in the recession period of enterprises, business accounting management can make reasonable plans for the future development of enterprises and promote the transformation of enterprise management strategies.

    Business accounting management is an important part of modern enterprise management decision-making

    In the process of business development, enterprises will face various opportunities and risks. How to seize the opportunities to promote the long-term development of the enterprise. And how to face the challenges and minimize the risks of the enterprise, enterprise managers need to make scientific and reasonable decisions. The decision-making resolutions guide the future development of the enterprise. In these decision-making decisions, business accounting management is undoubtedly the most important content. Only by ensuring the safe and reliable operation of the funds of the enterprise can it escort the development of the enterprise.

    Business accounting management is consistent with the management characteristics of modern enterprises

    The ultimate goal of modern enterprise management is to improve the economic benefits of the enterprise and promote the long-term development of the enterprise. Inside the enterprise, the production system, marketing system, personnel system, and financial management system are the most important links. Modern enterprises will make different management strategy adjustments according to different era backgrounds in their operation and management so that the management of enterprises can better meet the needs of the market, and the dynamic management of business accounting also makes it consistent with the management of enterprises themselves.

    Business accounting management is a necessary means to improve the competitiveness of enterprises and promote the development of Business accounting management is the core link of enterprise operation and development and is also an important guarantee for escorting enterprises at all stages. With the continuous development of society and the economy, the opportunities and challenges faced by modern enterprises in the process of operation and management continue to increase.

    To maintain strong competitiveness in the market competition, enterprises must use commercial accounting management to put forward scientific and reasonable plans for the development of enterprises; In addition, with the continuous influx of foreign-funded enterprises, enterprises must maintain sufficient vitality and competitive advantages in the external market while facing competition in the internal market. From this point of view, the role of business accounting management is particularly important. It is also a necessary means to promote the long-term development of enterprises.

    Business accounting management strategies based on modern enterprises

    Improve the financial management system and department functions of the enterprise

    In the process of operation and development of modern enterprises. The operation of commercial accounting management is inseparable from. The support of relevant financial management systems and the due diligence of financial departments. In the process of enterprise development, it is necessary to continuously improve the financial management system to provide a scientific basis for commercial accounting management. In addition, the financial department must actively perform its functions. So that commercial accounting management can provide solid backing for the development of the enterprise.

    Improve the team building of enterprise financial management personnel

    The financial department is the core department of a modern enterprise. And the comprehensive quality of financial personnel directly affects the efficiency of enterprise accounting management. Therefore, modern enterprises should continuously improve the comprehensive quality of financial management personnel through various means, and make them realize the importance of their responsibilities. In addition, enterprises should vigorously cultivate and introduce professional financial technical personnel to continuously inject fresh vitality into the financial system of the enterprise and to continuously improve the overall quality of the financial personnel of the enterprise.

    Maintain a balance between corporate profits and liabilities

    In the production and operation process of an enterprise, profit is the main purpose. But if there is profit, there will also be debt. This is inevitable, and once the balance between the two is broken, it will hurt the development of the enterprise. However, we can maintain the balance between the two at a relatively scientific, reasonable. And safe level through a series of means of business accounting management, to ensure the smooth progress of the production and operation of the enterprise.

    Strengthen the control and supervision of the financial system within the enterprise

    The financial department of an enterprise is a relatively independent special department, which controls the economic lifeline of the enterprise. Therefore, in the process of enterprise development, it is inevitable that there will be vicious phenomena. Such as the use of power for personal gain, the misappropriation of public funds, and the misappropriation of public funds. bad influence. Therefore, modern enterprises should strengthen the control and supervision of the financial management system, and promptly remove all kinds of financial hidden dangers that endanger the production and operation of the enterprise to ensure the smooth progress of financial management.

    Improve the anti-risk ability of the enterprise financial system

    Enterprises will encounter various difficulties and risks in the process of production and operation. Which greatly affects the development of enterprises. Based on this, the ability to resist the risks of enterprise finance is extremely important. Therefore, modern enterprises should continuously improve their financial anti-risk ability. Make various anti-risk plans, and take established measures to solve various risks in an orderly manner. To ensure the safe and stable development of enterprises.

    Expanding the source of enterprise funds Enterprises need a lot of funds as support in the process of development. And the lack of funds and follow-up shortages will seriously affect the long-term development of enterprises. However, it is not enough to rely solely on the support of external funds. Enterprises should constantly improve their internal financial hematopoietic mechanism. Expand the source of funds for the enterprise, and continuously provide sufficient funds for the development of the enterprise.

    Conclusion

    With the continuous development of the market economy, modern enterprises will face more and more challenges. To maintain sufficient competitiveness in the market competition, enterprises must continuously improve their management systems and improve the scientific and reasonable decision-making of enterprises. To achieve these, business accounting management is an indispensable means, which can maximize the utilization efficiency of enterprise funds and resources, improve the economic benefits of enterprises, and thus promote the long-term and stable development of enterprises.

    A Brief Discussion on Business Accounting and Management Strategy of Modern Enterprises Essay Image
    A Brief Discussion on Business Accounting and Management Strategy of Modern Enterprises Essay; Photo by Tyler Franta on Unsplash.
  • Teamwork and Collaboration in Strategic Planning

    Teamwork and Collaboration in Strategic Planning

    How to explain Teamwork and Collaboration in Strategic Planning? Company teammates and they existed given to work on the value of strategic planning. Initially, we noticed some of us expressing a complete dislike of the topic and thought it was a difficult one.

    Here is the article to explain, Teamwork and Collaboration in Strategic Planning!

    Little did we know, the process of working on the topic and what we learned from; turned out to be a blessing to us all, unlike what we first thought. Most importantly, our team was able to achieve our set goals and learned a lot from the assignment. The process involved several activities required for the realization of the seminar. When working in a team, good collaboration is a key element to reaching the desired outcome; which is what we tried to do. It is also vital that each member should commit to doing his or her part of the work.

    Definition of Teamwork;

    Teamwork is about galvanizing a group of people towards a common objective; while simultaneously addressing the head yet appealing to the heart. Teamwork and collaboration are also about bringing the best out of each individual in the pursuit of a collective goal deemed worthy of being realized.

    Therefore, according to Jon Katzenbach (a published author and consultant who is best known for his work on informal organization.); “a team is a small number of people with complementary skills; who are committed to a common purpose, set of performance goals, and approach for which they hold themselves mutually accountable”.

    Team collaboration and contribution;

    From the moment the assignment stood announced and that groups existed made, we had our first face-to-face meeting; which stood followed by more contacts via emails. We also set up a WhatsApp group chat and had three more face-to-face meetings before the seminar, including one before the presentation itself. It was a great pleasure for me to be part of the team and to work on the topic that; we initially didn’t like but turned out to be a blessing.

    As we worked, each member showed appreciation for everyone’s contribution to the preparation of the seminar. As we continued to work together; it seemed to me that some people lacked humility in the way they collaborated in the team. At first, I thought there was a lack of unity in the group; but we quickly resolved the issue and included everyone in the group decision-making process. Some tensions arose during some of the discussions we had as we prepared the seminar; but, numerous efforts were made not to allow conflict or enmity within the teamwork and collaboration.

    Strengths and weaknesses;

    The teamwork and collaboration stood composed of very knowledgeable people with a diversity of backgrounds. Everyone worked for the success of the team by offering support and guidance where it stood needed.

    However, one problem I experienced during this process was that the team’s workload existed not fairly distributed. My impression was that I had to do a lot of work and some did little. This frustrated and also worried me because I thought we would get fewer marks because of that. Although I did not complain to avoid confrontations, it negatively impacted me. But, I continued to work harder so that everyone could benefit from it.

    What is the Importance of teamwork in an organization?

    A challenging business climate needs to engage by effective teamwork. It provides an opportunity to come together and establish a common ground for the fulfillment of specific objectives. Empathy, appreciation, and encouragement are some of the critical ingredients of effective teamwork and collaboration. The vision must be bold, stir the intellect, and yet move the heart. What is at stake needs to be spelled out.

    Alcorn (2006) defines a team from 1886 which defines a team as; “work done by several associates, with each doing a part; but all subordinating personal prominence to the efficiency of the whole”; In a simple context, this means that a team is a collective whole of people that work together so that they are more productive. The key for any organization is to possess a team that can define using Alcorn’s provided definition. A team isn’t a team simply because a company pulls a group of workers together and calls them a team; but, instead of is a result of careful planning, hard work, and constant tweaking of team processes continuously.

    In today’s competitive world where every organization is striving to gain the best position in the market; the concept of Group Development and Teamwork is steadily gaining importance. Individual decision-making has taken backstage and paved the way for team management approach for problem-solving and decision making; which has been productive for the organizations. This strategy not only benefits the organisation but also the individual employee, hence it’s been rapidly adopted by businesses.

    More to know;

    Management Professor Tracy McDonald states that “The teamwork push probably started in business in the late 1970s or early ’80s with the advent of quality circles [employee problem-solving teams],” she says innovation, creativity, and change have been some of the main drivers of team success and since the past 30 years, organizations have embraced this concept with welcoming hands.

    Yuki Funo the Chairman and CEO of Toyota motor, states that the “Toyota way is the way to number 1”. One of the principles of the Toyota way is to ‘add value to the organization by developing your people and people can develop by molding them into exceptional individuals and teams to work within the corporate philosophy.

    Nippard B. creator of a Facebook group (teamwork ladder) on teamwork states that; “more than 80% of fortune 500 companies subscribe to teamwork and collaboration. Teamwork brings success no matter how you define victory”; Groups and Teams facilitate the organization to achieve a competitive advantage; because groups increase responsiveness to the organization’s customers, employee motivation, increase creativity; and they have also been capable of helping the members of the organization to enhance task performance and experience more satisfaction with their work.

    Team Responsiveness to Customers:

    It has been a priority for organizations to be elastic and readily responsible for the continuously changing needs, behavior, and desires of customers. Being reactive to customers often requires different levels of the hierarchy departments to combine their skills and knowledge. For example, at the lower hierarchy the employees such as sales representatives of a car company, are the people; who are closest to the customers and are aware of the customer needs.

    But their job in the organization is to just make sales of the cars and they cannot instill the desired changes into the car; which is in the field of the research and development department. Making the change a higher level of the hierarchy requires such as research and development experts; and other members who can come together and create a group or a cross-functional team with diverse skills and capabilities that will enhance the responsiveness to customer needs.

    Managers need to understand the need and set up the appropriate cross-functional team that will carefully determine what type of expertise and capabilities exist required to be responsive to the customers. This information is very vital for forming teams. A cross-functional team is the best solution that’s aligned to any business needs can help you improve your efficiency and respond to customers more quickly. The needs of a customer stand focused on forming such cross-functional teams and a satisfied customer is always an asset for any organization.

    Employee Motivation:

    Kreitner R. has defined motivation as “the psychological process that gives behavior purpose and direction”. Groups and teams exist formed to increase the productivity and efficiency of an organization. To do so Managers have learned that increasing employee motivation and satisfying team members are the best way to achieve an organization’s strategic objectives. It is also about the motivation of members of the group to stick with each other and oppose leaving it.

    Being motivating to the team members and giving them the experience of working with other creative members in the organization is very inspiring and leads the team members to be more creative in their work and helps them to be more productive and increases their work effort.

    All the ideas generated exist directly contributed to the final result and in the success of the organizational goals; and, hence the members of the team feel personally responsible for the outcomes or results of their work. This satisfies the statement by Dwight D. Eisenhower that; ”Motivation is the art of getting people to do what you want them to do because they want to do it.”

    What do we have to know?

    I learned what strategic planning is and how it differs from traditional business planning. A lot of importance existed given to the value of strategic planning within a secular world, the church, the Bible with some theological perspective. For me, the most significant finding was that, in the secular world, the strategic planning process first started with Goodstein et al. They suggested a nine-stage sequential process; which, although initially designed for the corporate world, has had a significant impact on the Christian world.

    I felt delighted after finding those who first wrote about; strategic planning and how their work changed the business world we know today. Subsequently, I also learned how strategic planning helps organizations become proactive in how they address unexpected or unpleasant situations. Instead of waiting for problems to arise and thinking of solutions to them, organizations can anticipate and have contingency plans before implementing their strategic plan.

    Hence, it helps organizations move from being reactive to being proactive. In the Christian context, it all started with the first work on strategic planning in a Christian perspective by Malphurs. Like for the secular world, he suggests a nine-step strategic model that helps churches develop and implement a modern-day church strategy for the benefit of God’s Kingdom.

    Conclusion;

    As done by many organizations in the secular world, churches also adopted a similar approach to strategic planning that suits their needs in this ever-changing world. One may ask if this concept is even Biblical? Should the church be adopting such a strategic approach? The answer is that, yes, the church can use this concept. However, the way churches implement strategic planning mustn’t be incompatible with the Scriptures and God’s mission and commission for his people.

    Through this assignment, I have significantly developed my skills in working with others and improving as a person. During the seminar, we used a polling tool to interactively and effectively engage with the class. I did my best to work hard and produce quality work for the seminar.

    Teamwork and Collaboration in Strategic Planning Image
    Teamwork and Collaboration in Strategic Planning
  • Grand Strategy Matrix in Strategic Management Essay

    Grand Strategy Matrix in Strategic Management Essay

    Meaning and Definition of Grand Strategy Matrix in Strategic Management Essay; The Grand Strategy matrix under-represents the viable strategy formulated using the strategic group together with the partial SWOT evaluation above that the United Technologies Corporation uses as a reference throughout the strategic planning. The organization currently operates at Quadrant I which indicates a great strategic position. The right top quadrant of the matrix is amazing as it represents a nice fast marketplace boom and a strong aggressive role. The present-day techniques mentioned for the following monetary 12 months; and past are all determined in the first quadrant; and consist of cognizance differentiation, recognition fee chain evaluation, mergers and acquisition, and diversification and increase.

    Here is the article to explain, 4 Grand Strategy Matrix in Strategic Management Essay!

    These techniques formulate upon the essential analysis of the strengths and the weaknesses said above. In destiny, the enterprise must try to perform at quadrant I because of its superiority and competitive advantage that come with the implementation of those strategies. The Grand Strategy Matrix has ended up a popular device for formulating possible strategies, at the side of the SWOT Analysis, SPACE Matrix, BCG Matrix, and IE Matrix. The grand approach matrix is the tool for growing opportunity and exceptional techniques for the business enterprise. All groups and divisions may position in one of the Grand Strategy Matrix’s 4 approach quadrants.

    The Grand Strategy Matrix is primarily based on dimensions: competitive position and marketplace growth. Data wanted for positioning SBUs within the matrix derived from the portfolio analysis. This matrix gives viable techniques for an organization to remember; which index is in sequential order of attractiveness in every quadrant of the matrix.

    Quadrant I (Strong Competitive Position and Rapid Market Growth);

    Firms positioned in Quadrant I of the Grand Strategy Matrix are in an amazing strategic position. The first quadrant refers to the firms or divisions with a robust aggressive base and operating in rapid-moving growth markets. Such corporations or divisions are higher to undertake and pursue techniques together with marketplace development, marketplace penetration, product improvement, and so on. The concept in the back of this is to awareness and make the contemporary competitive base stronger. In case such firms possess simply available resources they could circulate directly to integration techniques; but, ought to in no way be on the price of diverting interest from the present day robust aggressive base.

    Quadrant II (Weak Competitive Position and Rapid Market Growth);

    Firms positioned in Quadrant II need to assess their present approach to the market significantly. Although their industry is growing, they may be not able to compete efficaciously; and they want to determine why the firm’s contemporary approach is ineffectual; and how the organization can quality change to enhance its competitiveness. The appropriate techniques for such corporations are to broaden the products, markets, and to penetrate the markets.

    Because Quadrant II corporations are in a fast-marketplace-boom enterprise, an intensive approach (instead of integrative or diversification) is normally the primary choice that ought to consider. To gain the competitive advantage or turn out to be market chief Quadrant II companies can move into horizontal integration concern to the availability of assets. However, if those corporations foresee difficult competitive surroundings and faster marketplace increase than the increase of the company, the better choice is to enter divestiture of some divisions or liquidation altogether and trade the enterprise.

    Quadrant III (Weak Competitive Position and Slow Market Growth);

    The corporations that fall in this quadrant compete in gradual-growth industries and have susceptible competitive positions. These companies ought to make some drastic adjustments fast to keep away from similar demise and viable liquidation. Extensive value and asset discount (retrenchment) ought to pursue first. An opportunity strategy is to shift sources far from the cutting-edge business into one-of-a-kind regions. If all else fails, the very last options for Quadrant III companies are divestiture or liquidation.

    Quadrant IV (Strong Competitive Position and Slow Market Growth);

    Finally, Quadrant IV organizations have a sturdy aggressive role but are in a sluggish-growth industry. Such firms are better to go into associated or unrelated integration to create an enormous market for services and products. These firms additionally have the power to launch various applications into extra promising increase areas. Quadrant IV firms have ordinarily high cash float levels and constrained internal increase desires; and regularly can pursue concentric, horizontal, or conglomerate diversification efficiently. Quadrant IV corporations also may pursue joint ventures;

    Explanation;

    Generally, strategies indexed inside the first quadrant of the Grand Strategy Matrix suppose to preserve a company’s competitive aspect; and boost speedy boom, at the same time as the other 3 quadrants represent appropriate movements to take to attain the nice role, which is the first quadrant. Increasing market proportion, increasing to new markets, and developing new merchandise are not unusual techniques. The efficiency of the control substantially relies upon upon the adoption of and pursuing techniques constant with the marketplace and aggressive function of the firm.

    For devising appropriate Strategic management is required to reveal the firm’s aggressive function and marketplace thru a scientific analysis of its current function. Grand Strategy Matrix is there to simplify the task. The gain of the Grand Strategy Matrix is this version allows better implementation of the approach due to the intensified cognizance and objectivity. It conveys a lot of records about corporate plans in a simplified layout.

    However, Grand Strategy Matrix won’t be as simple as it appears, upon software to real-lifestyles due to the unexpected factors and additional complications within the enterprise world. In addition, the connection between marketplace proportion and profitability differs in exclusive industries. Another difficulty approximately this version is that the grand approach options are by and large concerned; with cash-related issues however now not the values of the firm.

    Grand Strategy Matrix in Strategic Management Essay Image
    Grand Strategy Matrix in Strategic Management Essay; Image by Peggy und Marco Lachmann-Anke from Pixabay
  • Instagram Marketing Strategy and Plan for Small Business

    Instagram Marketing Strategy and Plan for Small Business

    Marketing plan an Instagram advertising Strategy for developing small business 2021; The Instagram marketing plan of the business compiles objectives, behavior, and methods to use Instagram to accomplish promotional and commercial strategic goals.

    Some Ways from Earnviews or advertising for Developing an Effective Instagram Marketing Strategy and Plan in Small Business 2021.

    Instagram marketing is a significant proportion of social media market research with common targets and methodologies. The vast range of social media sites has altered the perception of social media advertising for companies. Over 25 million companies have an Instagram profile, which they utilize to improve their image, product lines, and facilities and motivate their employees. There is intense rivalry on this channel. As a result, marketing departments strive to outperform their rivals by producing more inventive, truthful, and likable material. Here are a few valuable pointers to allow you to develop famous Instagram marketing campaigns. 

    Recognize Your Instagram Marketing Strategy’s Objectives;

    If the company’s information is reliable, it can profit from Instagram marketing. Yes, this is correct. If you want to make the most out of Instagram, you must first identify your main objective. What are your Instagram proposals? Advertising is a popular way of dealing with this issue. That, however, is a broad declaration. You must focus solely on a primary objective in mind that you want to achieve with Instagram. The desired Instagram marketing strategy must be incredibly apparent to your business. It applies to firms relevant to Instagram and those that have been using this for several years. One more helpful tip is that if you use Instagram, you can also buy Instagram views to enhance your profile.

    Concentrate On The First Impression Of Your Page;

    Making a good first image is essential. This observation is accurate in both the physical and digital worlds. You must comprehend this as a marketing company. Similarly, constructing an appealing blog post entrance is critical to your content marketing strategy. When a customer clicks on your Instagram account, what will they observe initially? Their view includes your profile picture, personal information, and your current publications. When contemplating following consumers to improve your base of followers, they must not be abandoned with any queries when a visitor taps on your account. Your account should contain information about your details and what you meant to do here. It helps create the most by utilizing your brand symbol as your profile picture. It is much more recognizable than a generic series of photos of an individual. You can also reach sites like Earnviews for improved returns.

    Consistently Publish New Content;

    Only updating your account with a photo or clip once a couple of weeks is not an efficient method. That is not even near to a live characteristic. You wish your brand to be high on the priority list in the minds of your supporters at all points in time. Simultaneously, you would not want to clutter up consumers’ timescales and seem too annoying. In this scenario, you must find a balance. In addition, to improve efficiency, consider using sites like Earnviews. We do not recommend posting more than once per day. If you come up with a ton of stuff to deliver daily, it is ideal for publishing your Instagram story. How quite often can you publish on Instagram? As per data analysis, leading Instagram businesses post 1.5 times per day on the median. It corresponds to about ten or eleven posts per week. 

    Wrapping Up;

    To remain ahead of the market on Instagram in this competitive world, keep your interaction as high as possible. Your Instagram marketing plan for 2021 will be a resounding hit if you implement these recommendations somehow.

    Instagram Marketing Strategy and Plan for Small Business
    Instagram Marketing Strategy and Plan for Small Business.
  • Old and New Industrial Pattern During for 5 Year Plans in India

    Old and New Industrial Pattern During for 5 Year Plans in India

    Old and New India Industrial Pattern: Indian industries provided all nearby needs as well as empowered India to trade its finished items. Indian fares comprised primarily of fabricates like cotton and silk textures, calicoes, masterful product, silk, and woolen material. The effect of the British association and industrial transformation prompted the rot of Indian handiworks. Here is the explain Patterns of Indian Industrial. Instead, machine-made merchandise began pouring into India. The void made by the rot of Indian painstaking work was not filled by the ascent of the current industry in India in light of the British arrangement of encouraging the import of produces and fare of crude materials from India.

    The main highlights of the industrial pattern in India just before planning (1950) were as under:

    Lopsided pattern of industry – First Industrial Pattern:

    The quirk of the industrial pattern of India was the high grouping of business either in little production lines and family unit undertakings. For example the most reduced size gathering or that there was a high convergence of work in enormous manufacturing plants, for example, the most noteworthy size gathering. The medium size industrial facilities didn’t create in India. The presence of these disproportionate industrial patterns was because of the pioneering idea of our economy. The foreign firms and those claimed by enormous business and industrial magnates were of a huge size coming at the highest point of the pyramid, and at the base were countless indigenous little size firms. The imbalance of the industrial patterns was reflected without the center business visionaries running medium-sized firms.

    Low capital Intensity – Second Industrial Pattern:

    Another element of the industrial pattern of India was the commonness of low capital intensity. It was the aftereffect of two variables – first, the overall degree of wages in India was low, and second, the little size of the home market on account of the low per capita income and the restricted utilization of large scale manufacturing (or high capital intensity) procedures brought about low capital per laborer utilized.

    Composition of Manufacturing yield – Third Industrial Pattern:

    There was an underlying lopsidedness in the industrial patterns. For the situation of buyer products, the homegrown stock was more than the interest. The index of the homegrown stockpile of purchaser products was 112 when contrasted with homegrown interest equivalent to 100. In any case, for the situation of maker products, the homegrown supplies missed the mark regarding homegrown interest. The index number of homegrown supplies about interest was 80. This increased our reliance on different nations in the capital merchandise area.

    The ends were self-evident. There was an extraordinary requirement for increasing the yield of the firm and intermediate maker products to address the unevenness between their interest and supply. Industrial improvement “isn’t exclusively a cycle of expanding yield to fulfill the rising need made by growing capita incomes; it is additionally a cycle in which existing interest for fabricates is met increasingly for homegrown creation instead of from foreign sources.

    So, the industrial plant pattern’s in Indian just before planning was set apart by low capital intensity, restricted improvement of medium-sized manufacturing plant undertakings, and lopsidedness between shopper products and capital merchandise industries. It would be of interest to examine the degree to which the Five Year Plan has endeavored to improve the industrial area patterns, right its imbalance build up the capital products area.

    Here is the article on Old and New nine Industrial Pattern During for 5 Year Plans in India.

    The pattern of the industrial areas in India has experienced significant changes during the time of planning. We can think about the progressions under the following heads:

    Infrastructure:

    An impressive extension of the infrastructure of the economy is fundamental for the present-day industrial turn of events. Therefore, efforts were coordinated towards building up essential offices like force, transport, and interchanges in the 5-year plans. Duration of 5 years Plan list:

    • First Five Year Plan (1951-56)
    • Second Plan (1956-61)
    • Third Plan (1961-66)
    • Fourth Plan (1969-74)
    • Fifth Plan (1974-78)
    • Sixth Plan (1980-85)
    • Seventh Plan (1985-90)
    • Eighth Plan (1992-97)
    • Ninth Plan (1997-2002)
    • Tenth plan (2002-2007)

    Increasing Share of Industry in GDP:

    We can see the increase in the portion of the industrial area in the GDP over the planning time frame. The administration area is the biggest area of India. Net or Gross Value Added (GVA) at current costs for the administration area assess at 100.46 lakh crore INR in 2019-20. The administration area represents 54.77% of absolute India’s GVA of 183.43 lakh crore Indian rupees. With GVA of Rupees. 50.40 lakh crore, the Industry area contributes 27.48%. While Agriculture and associated area share 17.76%.

    According to CIA Fackbook, area shrewd Indian GDP creation in 2017 is as per the following: Agriculture (15.4%), Industry (23%), and Services (61.5%). With the creation of the horticulture movement of $375.61 billion, India is the second bigger maker of farming items. India represents 7.39 percent of all-out worldwide farming yield. India is route behind China, which has $991 bn GDP in the agribusiness area. The gross domestic product of the Industry area is $560.97 billion, and the world position is 6. India’s reality rank is eight in the Services area, and its GDP is $1500 billion.

    Hefty and Capital Goods Industries:

    To reinforce the industrial base of the economy, the Mahalanobis model offered significance to the advancement of substantial machine-building industries and capital products industries. After the weighty investment in this area, it can’t be rejected that the industrial base of the nation is currently a lot more grounded than it was in 1950-51. Be that as it may, the new patterns are troubling.

    Synthetics, Petrochemicals, and Allied Industries:

    Prior, the quickest developing area involved industrial gatherings of fundamental metals, metal items, and machinery; however, in the 1980s, the main players were the synthetics, petrochemicals, and associated industries. Metal-based items and machinery items lost their supremacy in industrial development during the 1980s and confronted the possibilities of additional decline later on. The 1980s along these lines mark a huge period in industrial improvement in the country.

    The development of the Public Sector:

    There was nothing similar to a public area in pre-independent India and all exercises in the industrial area were under the private area. After independence, the public area arose and extended monstrously. At the hour of the beginning of the First Plan, the public area units numbered five with an absolute capital of Rupees 29 crore as it were. Regardless of their shortcomings, it is incorrect to excuse their commitment to the Indian economy as insignificant. PSEs have assumed a significant part in the creation of energizes, fundamental metal industries, non-ferrous metal industries, composts, correspondence hardware, and so forth

    Progression:

    From the 1990s onwards, the private area investment has increased massively; the private area would now be able to enter practically any field of the monetary and industrial movement. The part of the public area is, consequently, declining.

    Purchaser Durables:

    The purchaser sturdy products industries have extended quickly because of the strategy of advancement follows by the public authority in the 1980s.

    Dawn Industries:

    Dawn industry is a slang term for another emerging industry that requires to turn into a solid area. Also, Dawn industries fill quickly in an economy and are probably going to become market pioneers right away. What makes dawn industries effective is a right investment that can give capital appreciation for the time being and consistent returns in the long haul. Dawn industries include banking and finance, retail, medical services, and entertainment.

    In India, dawn industries have developed since the time of advancement. As a component of the reform cycle, the Indian telecom area was opened to the private area. The telecom industry, alongside information innovation, banking, retail, entertainment, flight, and accommodation has arisen as the leading dawn industries in India. These territories have obtained a colossal push and show scope for significant development.

    Footloose industry:

    The footloose industry is an overall term for an industry that can be put in any area without being influenced by variables, for example, assets or transport. These industries regularly have spatially fixed costs; which implies that the expenses of the items don’t change independently of where the item is collected.

    They for the most part rely upon crude materials that are light thus can effortlessly ship from somewhere else. Or then again such industries may have generally accessible crude materials, for instance, a pastry shop, or use parts from a wide scope of providers, for instance, the gadgets industry.

    Jewels and microprocessors are a few instances of footloose industries. For example, the industry can be sited in any of a few spots, regularly because transport costs are immaterial. Quite possibly the main footloose industries are computing and information innovation; since this industry isn’t attached to any place or wellspring of crude material, and it can pick its own areas.

    Normally, a footloose industry will find itself someplace helpful close to significant courses; and, so on where it can likewise pull in the best staff. Footloose industries likewise allude to transnational organizations that utilize individuals in foreign nations at a less expensive rate, than they could in their host nations. In India, footloose industries have arisen in the areas of metals and minerals, computing and information innovation, and so forth.

    What Pattern is the technique or Strategy for Industrial Development and Growth?

    The industrial area should develop at more than 10% to accomplish the objective development; the pace of 8 percent development for GDP during the Tenth Plan time frame. The industry will, nonetheless, need to confront more grounded international rivalry as a result of the expulsion of quantitative limitations on imports since April 2001. Besides, divestment in broad daylight ventures will bring about a consistent increase in the part of the private undertaking. Above we are read it Nine Industrial Patterns of India; The Tenth Plan must, therefore, center around creating an industrial arrangement climate helpful for productive and serious activities.

    A decrease of projective duty obstructions will progressively use to upgrade the serious capacity of the industrial endeavor. Additionally, the arrangement of advancement should make more unavoidable and a portion of the unwieldy administrative component that continues to persevere should be destroyed. Thirdly, the 10th Plan should likewise guarantee that strategies encouraging the business intensive limited scope area sought after. Nonetheless, there is a need to survey and rewind a portion of the reservations of items for the limited scale area. Fourthly, the private endeavor should likewise willingly and consistently gear itself to a climate of rivalry. Seeking strategy measures for the elimination of rivalry will nullify the upsides of the advancement strategy structure.

    Old and New Industrial Pattern During for 5 Year Plans in India Image
    Old and New Industrial Pattern During for 5 Year Plans in India; Image from Pixabay.
  • L’Oréal International Marketing Strategy explains their Case Study

    L’Oréal International Marketing Strategy explains their Case Study

    L’Oréal International Marketing Strategy; L’Oréal is the world’s biggest cosmetics and beauty products company. Basically, it’s a French-based company and is headquartered in Paris. Poster presentation on L’oreal Luxury Cosmetic; It focuses on engaged in the field of Production and Marketing of concentrating on hair colors, skincare, perfumes, and fragrances, makeup, and styling products. L’Oréal products are also based on dermatological and pharmaceutical fields. Their products are made for Individual and professional customers. So, what discusses is: L’Oréal International Marketing Strategy explains their Case Study.

    The Concept of L’Oréal explains their Case Study by International Marketing Strategy.

    This company operates in over 130 countries like Asia, America, East, and West Europe through 25 international brands. The success of L’Oréal lies in the fact that the company succeeded in reaching out to the customers of different countries of the world; across different income ranges and cultural patterns; giving them the appropriate product they are worthy of. The area of expertise of L’Oréal being that it succeeded almost in every country that it entered. The strategies of L’Oréal was varied enough to help it and stop itself from restricting itself to a single country.

    L’Oréal sold its product based on customer demand and country want rather than keeping the product identical across the globe. It built an ample number of brands or mammoth brands entrenched to the restricted culture and which appealed to a variety of segment of the universal market instead of generalizing the brand and edible in innumerable culture. L’Oréal went on to be a local product in every international market. The brand extension of L’Oréal also came in the same sector or the same segment of the market.

    L’Oréal believed in growing its expertise in the segment it is conscious of rather than going into a completely new sector of the market.

    The international marketing strategy is more in-depth and broadened in one sense of the term. It is simply a principle of marketing however on a global scale. The setup of the global marketing strategy has a lot to do with understanding the nature of the global market itself; and, most importantly the environment. The business environment across the globe has different economic, social, and political influences. Thus, it is believing that selecting a global market target for examples when strategizing is a good idea. The international marketing strategy of L’Oréal is concentrating on a cross-cultural arena spanning four market destinations.

    They are namely:

    • 1) the Asian Market.
    • 2) European Market.
    • 3) North America Market, and.
    • 4) The African, Orient, and Pacific Region.

    L’Oréal in Asia Market:

    At present L’Oréal is one of the best companies in the whole world in the field of cosmetic products. The cosmetic products of L’Oréal are widely used; and, especially the hair color which was introduced by L’Oréal a few years ago. L’Oréal is very famous in Asia and its products in Asia are very cheaper; than the other companies and are used by the majority of people in China, Thailand, Japan, etc. It is famous and very successful because of its global marketing strategies; which are very helpful and also distinct from the strategies used by other companies in this field.

    L’Oréal in Asia,

    Uses the sustainable strategy that is of growing the company as the demands of cosmetic products in countries like China, Thailand, etc are in great amount. This company uses the strategy of suspicious brand management; and, they also brought the strategy of more suspicious acquisitions. The main problem that a company like L’Oréal faces in Asia is the competition given by the other companies dealing with cosmetic products. To overcome this problem in Asia these companies use the strategy of selling good quality products at cheaper rates than the other companies.

    One of the best strategies of L’Oréal in Asia is the diversification of the brand; and, the main reason behind this strategy by L’Oréal is to make them palatable in the local cultures. L’Oréal in Asia aims at the management of the global brands with local variations; and, this means that their main aim is of becoming a local and not a foreign company in Asia.

    For example, L’Oréal in Thailand has given local names to their stores; and, most of the employees present in this company, are local people of Thailand. It is because of all these strategies, L’Oréal is very successful in the whole of Asia.

    L’Oréal in European Market:

    L’Oréal’s the only company that uses the strategies which also supports the people in many ways; and, not only in providing good quality products at cheaper rates. L’Oréal used different strategies of marketing in the European market like they used the strategy of nurturing the self-esteem of the people with beauty.

    In France,

    L’Oréal created programs like “Beauty from the heart” for helping the people made helpless by illness or any kind of negative life experiences. In countries like the UK and Germany, many of the women and also the young people regain their confidence; and, their self-image gradually by using the cosmetics provided by L’Oréal.

    In European countries,

    L’Oréal also used marketing strategies like taking the calculated amount of risk etc.; but, most of the strategies are related to the growth of the people mentally and not only for beauty or fashion purposes. L’Oréal launches various innovative treatment programs for the young people of European countries; and, this company also launches free skincare and make-up workshops for women who have cancer.

    For example,

    In France, a program named “La Vie, de Plus Belle” offers free skincare and makeup for cancer suffering women all over France. This helps them to cope with the treatment’s side effects; and, it also helps them to retain their self-esteem which is very important for a patient.

    In the European countries, L’Oréal generally uses the strategy of the management of brand by which L’Oréal had made a large number of brands that rooted in the local culture; and, which all appeals to the various segments of the global market. By using these social types of strategies for the people of Europe has helped L’Oréal in expanding their business in the whole of Europe.

    L’Oréal in North American Market:

    North American markets are considering as a perfect place for companies like L’Oréal, Olay, ponds, etc. The best business of L’Oréal comes from the market of the US. The reason for this much success is that L’Oréal uses very good global marketing strategies in North America and other countries like Canada etc. One of the successful strategies of L’Oréal in the US market is brand extensions; which include the extensions of the brands after doing complete research.

    For example 01,

    When L’Oréal launched a shampoo for kids they first made complete research; and, also debated about the new launch or for an extension. In the US and Canada L’Oréal uses the strategy of frequent advertisements and promotions. As we know in the present scenario, proper advertisements and promotions are very important for any company because people follow the promotions; and, due to which the demands of the products like hair color increases at a very rapid rate. We can clearly understand the advertisement and the promotions of L’Oréal through their media budget. L’Oréal has the twelfth largest media budget in the world which is much more than the other companies in this field.

    For example 02,

    In the late 1990s, the expenditure of L’Oréal advertising and promotion was jumped from 37% to around 47% of the total amount of sales. The global ad spending of L’Oréal was increased to $1.25 billion which was on par with the company named coca-cola. The best thing about this company is that they have a separate and very distinct policy of promotion in the market of the US. Matrix is the number one brand of L’Oréal in the US and the main reason behind the success of the matrix is frequent; and, distinct advertisement and promotion of cosmetic and hair products.

    The people of countries like Canada like to use new products that mean they like changes in their product after some interval of time. So by keeping this thing in mind, L’Oréal uses the strategies of modifications which means they modify their existing products according to the latest tastes and fashion of the local people. According to the latest surveys of the people of L’Oréal company; the majority of the profits of this company is because of the US and these perfect strategies used by this company in the US is the reason behind this type of success especially in the North American market (Helping vulnerable people).

    L’Oréal in Africa, Orient and Pacific Region:

    Like other countries in the world, L’Oréal is also very successful and equally famous in Africa and the Pacific region. L’Oréal entered into the market of India in the year 1997 and at that; there was not much awareness about the sniff of structure in the industry of hairdressing.

    In countries like the UAE and Australia, proper and organized education was totally absent; and, perfect and well-trained hairdressers were also not present at that time. Despite all these problems, L’Oréal in India made some of the strategies; and, one of the best strategies of L’Oréal that they launch various technical training centers; and, they even opened a club of only the hairdressers.

    In the UAE,

    L’Oréal products which were professional began selling through Parisienne salons; while the other companies have begun retailing their range of hair color to power growth. L’Oréal uses a global marketing strategy for launching its successful brands all around the world.

    For example in February of this year only, L’Oréal announced the arrival of the matrix which is the number one brand of L’Oréal in the US to India, UAE, etc with a reason for adding the range of hair products to their existing products at affordable prices. The main thing about this company is that they make strategies according to the local culture of different countries and not uses the same strategies in every country. Because of all these strategies, L’Oréal gains a huge profit from Europe every year.

    The success of L’Oréal:

    The success story can continue further because even today products of L’Oréal touch the cultural values instilled in the potential customer’s mind. L’Oréal just doesn’t sell the product it makes the customer buy the idea of dreaming big but remaining rooted to the core cultural values. it has carefully devised its global marketing strategy and customized it to the local needs; and, that’s the reason people from Africa to Europe and America to Australia are using the L’Oréal products.

    The same reward schemes, motivational methods, desired working environments, etc; also cannot be the same for different employees working for the company in different nations; and, thus it also needs the understanding of different aspects of the impacts of the cultural differences. Proper analysis of the Macro and the Micro Environmental factors should do to study how much technological and economical; and, politically that country is sound to carry out a trade with them.

    Whether it’s an Asian Market, European market, North American Market, or the Pacific Region, everywhere the culture differs in terms of varied factors. So it becomes the responsibility of the Company to do proper scanning of these factors to have their long stay in the region so that they can attain a Topmost Competitive position by adapting to various region’s cultural factors in their Global Marketing Strategies.

    Therefore the major things that should keep in mind for L’Oréal while doing International business are to form an effective global strategy team for defining the trading policies to work in any country. The strategy of Globalization should encompass major factors like cultural differences, economic policies of the country, etc. moreover the varying lifestyles of the peoples and the rapidly changing economies even should also be kept in mind.

    L'Oréal International Marketing Strategy explains their Case Study
    L’Oréal International Marketing Strategy explains their Case Study!

  • L’Oréal Global Branding Strategy explains What? their Case Study

    L’Oréal Global Branding Strategy explains What? their Case Study

    L’Oréal Global Branding Strategy; The L’Oréal group has been the market leader of cosmetics and the beauty industry. The products it mainly sells are in the fields of cosmetics including, hair color, makeup products, skincare products, perfumes, etc. Poster presentation on L’oreal Luxury Cosmetic; The company has also launched several products in the field of dermatology and pharmacy. The sales and profits maintain through its wide range of professional consumer luxury; and, active products showing a strong through it. So, what discusses is: L’Oréal Global Branding Strategy explains What? their Case Study.

    The Concept of the study explains the Case Study of L’Oréal Global Branding Strategy.

    It was founded in 1909 by Eugene Schueller and soon it grew into the world’s largest company in the industry. The turnover of the company has grown over 19 billion euros with over 11 percent of growth; which considerably indicates the success of marketing strategies of the L’Oréal group. The company market over 70 international brands along with several local brands made specifically for the country it is marketing with the same international standards; and, flexibility according to the local needs and requirements that are to sell to both men and women in over 150 countries.

    The company has shown enough growth in the continents of North America and Western Europe with its outstanding performance of twice the market trend growth of the markets of Asia Pacific, Eastern Europe, Latin America, Africa, and the Middle East. The global marketing efforts of the company with its smart selling efforts brought a tremendous amount of success for it. The differences between the different cultures and the needs of the native people of those different cultures have been quite successfully understood by the company’s marketing personals.

    Explain 01:

    To understand and to answer the cosmetic requirement of the different types of people in the world the company has set up its five worldwide research; and, development center which establishes in different continents like 2 in France, 1 in the US, and 1 in Japan and 1 in China, to make the manufacturing of the product; managed according to the needs of a different culture. L’Oréal group has successfully projected itself as a nice example of a good multinational corporation that manages its profit with considerable success through the competitions in the market’s surrounded by the various geographical, social, economic, and cultural risks.

    The company reached out to a variety of customers with different economic status and cultural background in overall different perception through its fine global branding strategies. Through its selling of different products, the company sold different genres of products like Italian elegance, New York street smarts, French beauty, etc through different global branding methods.

    L’Oréal’s global branding strategy that’s doing wonders has been actively spearheaded by Owen Jones himself. Lindsey Owen Jones has been the CEO of L’Oréal for nearly two decades and an “Honorary President” now, and under his leadership; L’Oréal has really fine-tuned its global branding strategy. Interestingly some press reports tell us that he has been seen roaming around streets in foreign markets to understand the new and existing trends.

    Explain 02:

    And without any doubt, his interesting work style seems to work wonders. The branding strategy of L’Oréal has such an impact that L’Oréal seems to be the only global leader in every segment of the cosmetics industry; the right positioning of its products seems to be the key. Whatever it is trying to sell the French elegance or street smartness of America; is getting good response throughout the world and L’Oréal has been able to reach its consumers across the national and cultural boundaries.  Owen Jones says: “We have this great strategy back in the head office of how we are going to do it worldwide.

    But when you go out and look at what is happening, is there a big gap between your projections and the reality of what you see and hear? It is so important to have a world vision because otherwise decentralized consumer goods companies with many brands can fracture into as many little parts if somebody isn’t pulling it back the other way the whole time with a central vision.” This really explains why he prefers roaming in the streets for his strategy-making rather than sitting in the boardroom. Having said all that it’s quite evident that the global branding strategy of L’Oréal has paid huge dividends to the company overall.

    Explain 03:

    To understand this splendid growth story, we need to see how exactly L’Oréal applied their strategy to the countries that were entirely distinct as far as the lifestyle, spending pattern, and culture concern. L’Oréal was started in France, has a good brand value in the united states of America, is reaping good dividends from India, and has a remarkable presence in Japan. These are different complex societies with different needs; so how exactly L’Oréal managed to be equally successful in all these places? This question needs some fact-finding to be done based on country-specific products; and, strategies adopted by the cosmetics conglomerate.

    That’s what exactly we will try doing in the next section of this case study. In India, 4 billion 7.5 ml sachets sell every year and that’s a staggering 66% of total shampoo consumption in India. Most of the urban Indian women (96%) use shampoo, however only 46% use foundation. For hair care, a huge 74% population of Indian women still rely on home remedies, 42% use henna, and 94% use hair oil, as far as L’Oréal’s sale per person in India concern is just 10 cents compared to 28 Euros per person in France. In India skin lightening creams (fairness creams) constitute more than 50% of the skincare market people seem to be crazy about getting fairer.

    Explain 04:

    These facts are self-explanatory about the nature of the Indian market; and, it’s clearly stating that the strategy used in the USA or any other European countries is not going to work in India. the USA is a mature market as far as cosmetics consumption concerns India is an emerging economy with most of the population below 35 years of age and a huge aspiring middle class. The cosmetics market is growing approximately at an annual rate of 16% in India, still a long way to go. The youth in urban centers very concern about the image but the larger section is still off the fashion map.

    Interestingly even after the success story of corporate India, apparently it’s still a country that is very much community-oriented. The great Indian middle class is aspiring but still has the community-driven cultural values intact. L’Oréal has taken this fact very much into consideration while preparing the marketing strategy for India. A very good example would be the launch of Garnier Fructis shampoo in India. The concept was to rely on the idea rather than relying on advertising a brand. The idea of getting five times stronger hair was the central point that created the hype, through “word of mouth” or network marketing.

    Initially, it was positioned as a product for young and teenagers; once the product was established in the market it tried to change or rather increase the target base by shifting gears. In a recent advertisement for Garnier hair color, a daughter is shown advising her mother to try the Garnier product and explaining the benefits. Again it relies on the concept of the idea getting spread by “word of mouth” to another customer segment. This is the best example of marketing in a closed &community driven society.

    Explain 05:

    There is one more remarkable thing about this entire campaign the catchline “take care”. It shifts the focus from the product to the core value of Indian society “caring about others”; and, the entire advertisement becomes more of good advice rather than publicity. China is the world’s most populated country in the world and that makes it very clear that it has the potential of being the biggest consumer market. These days Chinese women are spending an average of 10 to 15% of their income on cosmetics products, and urban Chinese ladies would use 2.2 cosmetics products on average every morning.

    Evidently, most of them want to be fashionable and the L’Oréal punch line – ‘if you want to be fashionable, just choose Maybelline’, really seems to work. Masses are made to believe that this is something that represents America and it ought to be trendy. Maybelline is the product line for the masses and L’Oréal really uses the tendency of masses to look towards the USA that’s why the Maybelline products display against the backdrop of the shiny skyline of New York City Chinese women prefer skincare and beauty products.

    Explain 06:

    According to research by L’Oréal in China, women concern about the radiance of their skin; and, prefer skin nourishing lotions that protect their skin from skin-drying winters. Unlike us customers most Chinese women like skin whiteners rather than tanning products. It’s a sign of beauty for Chinese women. Also, the texture of Chinese hair is thicker and more course than typical US Caucasian hair. This requires different products, and really different skill set to effectively sell and get these products moving in China.

    L’Oréal has dedicated research facilities for these and other issues and followed up with more innovations to suit the needs and preferences of Chinese consumers. There is one more very interesting fact about the Chinese cosmetics industry; Chinese women are very concerned about the ingesting of lipsticks. This is the most interesting food attitude about Chinese women.

    Now following its global strategy L’Oréal even considered this and developed lipsticks containing vitamins; as soon as this was told to the women they were more comfortable in using the product. European countries are mostly developed, here L’Oréal has the liberty of publicizing the brand value rather than focusing on pricing, the benefit to L’Oréal in these markets is that it already well establish and the brand well knows so it can concentrate on grabbing the attention of individualistic feminist women.

    Explain 07:

    Pricing is not a concern in these markets so L’Oréal can afford to have punchlines like-“I am worth it” because these punchlines justify the high pricing of the products and fulfill the feeling of exclusivity of high-end clientele. Now let’s take another example from the European and our markets, L’Oréal brands in these markets are quite well established. L’Oréal products have been used there for few generations now; once young consumer of the L’Oréal brand has started aging and the same street-smart products could not position to them, they have started becoming the mature citizens; now their priorities have changed.

    A recent market report suggests that the new target segment in the cosmetics industry is 40 plus women who once used teenage cosmetics products. The thrust is on anti-aging products because it not only adds the new customer base but retains the once teenage customer also. The customer from the baby boom generation reaches the retirement age and tries to maintain a healthy and youthful look and finds out that their favorite cosmetics brand is still making products for them. L’Oréal capitalized on their desire to look youthful and started marketing its anti-aging products, it has signed sixty-year-old Diane Keaton to represent the Age Perfect Pro-Calcium skincare line.

    Explain 08:

    Also, L’Oréal has signed Scarlett Johansson, Penelope Cruz, Eva Longoria, and Beyoncé Knowles to promote specific cosmetics lines according to the age groups. Now this tells us how L’Oréal used the desire of customers to position its products. The French conglomerate believes that only two different cultures as far as fashion concerns are dominant, represent by two flagship brands L’Oréal Paris and Maybelline New York. L’Oréal has been projected as a French origin with elegance, high-end presentation, and obviously high pricing.

    Whereas the Maybelline product line represents the street-smart American babe who is looking for the value of the money. America seems to be the growth engine of the world, in the cosmetics industry as well. L’Oréal has understood this and they made a strategy based on the trends in the USA and that’s how Maybelline came into existence. Maybelline currently is the second-largest brand in the share of unit sales of cosmetics products and number one in makeup brands. It claims to be totally consistent with today’s confident woman. Maybelline products targets three customer segments; youngster (16 to 25), office lady (26-35), and career women (35 plus).

    Explain 09:

    The marketing mix for the Maybelline line of products consists of two main strategies; foreign consumer cultural positioning; and, symbolic New York City imagery that women can relate to everywhere. Maybelline promotion includes the different way of grabbing attention including promotional coupons; online advertising; sponsorship of fashion shows; signing fashion icons as spokesperson of the product; free makeup consultancy and providing scholarships, etc.; we can see as American cosmetic market is a mature market so L’Oréal tries to rely on mature marketing tactics. In the early 20th century, even American society was not very much open to makeup and skincare products.

    People thought that only sinful women should wear makeup; but, eventually with the economic independence that the American women gained; makeup and cosmetics started coming into the mainstream. Cosmetics apparently became the symbol of new self-belief that the American women were beaming with; and remember even Maybelline claims to be totally consistent with today’s women; there are several other punchlines like ‘maybe she’s born with it’, ‘maybe it’s Maybelline’; all the punchlines keep the self-confidence of women in the center as if its not the makeup but its the attitude that has to be worn.

    Explain 10:

    That’s why women of every nationality and culture started identifying themselves with the product; and, this became the symbol of the 21st-century woman. The mindset and the lifestyle of the customer heavily impacted by the culture. Culture defines by different norms, values, interactions, language, and other personal components shared by groups of people across the world. It is a social phenomenon that defines people’s interests, thoughts, and other behaviors they may exhibit in social life.

    From one country to another, humans have evolved and developed different types of expressions, beliefs, and behavior; which can be difficult to understand for someone who does not belong to the same culture. Culture is the way how the members of a particular group interact with each other on the sharing of the available means; now that determines what is going to be the need for a particular product in that society; that also decides whether a particular advertising strategy will work or not; and, how exactly that will interpret by the target customers.

    Explain 11:

    In different markets, consumer requirements and consumer behavior may vary. Cultural aspects deeply impact consumer behavior; the impact may be direct or indirect. The cultural distinction creates the consumer behavior difference, as it can notice between the Asian and European continents where the culture and the behaviors are very different. Being a global organization L’Oréal certainly needs to understand the cultural differences and position its products; accordingly, otherwise, the results may be far more different than they are at this moment. The thrust has to be on hitting the right customer with the right product.

    This can be possible only if one has a deep knowledge of local culture and beliefs. A very interesting example would be lipstick use in China; according to research, only 3% of women use lipstick for makeup. The reason that was supposed to be behind this low percentage of lipstick use is even weirder; women in China have concerns about ingesting lipstick. L’Oréal surveyed to see whether this is just an age-old saying or it holds some truth; based on the findings it came up with a lipstick that had vitamins in it, and in turn, the demand for L’Oréal vitamin lipsticks increased. Another example could be really handy; in India long hair consider necessary for a woman to consider beautiful.

    Explain 12:

    L’Oréal considered this fact while launching its shampoo product in India; and, it focused on publicizing the fact that using the Garnier Fructis shampoo helps in getting long and strong hair. This strategy made the product very popular in India. In China or India, people like to have a fair complexion. In Asia, women take special care of their skin. People want radiant skins and lotions that can nourish their skin against the sun; whereas in the United States people would rather buy tanning cream.

    On basis of this knowledge, L’Oréal can position their whitening creams in India; and, the interesting part is the way the advertisements could interpret; the way the advertisements for the fairness creams make in Asian countries can interpret as racial advertisements in the USA; but, in Asian countries that seem to be quite usual. Now that’s where the knowledge of the culture and beliefs comes in handy and helps to avoid unnecessary problems. From a business point of view; companies have to adapt themselves to the culture of each country in which they want to have a business. Because of the differences in culture between countries; companies need to adjust their products and services according to local demands.

    This will help them to create and develop a brand image across the globe bases on a large number of globally-recognized products. L’Oréal was able to be successful in these markets; because it adapted to the ground realities of the particular market yet it followed a standardized strategy. If we consider the marketing mix of Maybelline, it has a two-pronged strategy; one for the foreign markets is the global street-smart image of the American chic.

    Explain 13:

    The global street-smart image of New York chick can admire in almost all the urban centers, be it India, China, or Brazil. However, there has to be the right mix of local flavor as well. The most important part of L’Oréal’s strategic plan is to opportunity hunting or the marketing of its products worldwide. From the initial days, it already started catering to the demands of women worldwide. To do that efficiently, they were expected to be well aware of the diversities of women across the globe.

    Once they knew the diversities their job was to come up with a different line of products suitable to women from all parts of the world. Innovation has been the keyword for L’Oréal and this was made possible through constant research and development over the years. The group has already covered most parts of the world and still striving to cover more. To do so, the L’Oréal group has to keep respecting other people’s identity, ideas, and culture. L’Oréal has to keep valuing different cultures and nationalities to get their brand value up; and, it seems that they have been doing it really well.

    The success story can continue further because even today products of L’Oréal touch the cultural values instilled in the potential customer’s mind. L’Oréal just doesn’t sell the product it makes the customer buy the idea of dreaming big; but, remaining rooted in the core cultural values. It has carefully devised its global marketing strategy and customized it to the local needs; and, that’s the reason people from Africa to Europe and America to Australia are using the L’Oréal products.

    L'Oréal Global Branding Strategy explains What their Case Study
    L’Oréal Global Branding Strategy explains What? their Case Study. Image credit from L’Oréal.

  • Case Study of International Marketing Strategy in PepsiCo

    Case Study of International Marketing Strategy in PepsiCo

    PepsiCo Case Study; Pepsi was created by the chemist named Caleb Brad-ham. Keep Reading Case Study of International Marketing Strategy in PepsiCo. He was inspiring to experiment with various products and ingredients to create a suitable summer drink that became highly sought after way back in the summer of 1898. It was this summer inspiration that later evolved into what we now know as Pepsi Cola. You’ll like to L’Oréal International Marketing Strategy explains their Case Study.

    The Product inspired to experiment with various products and ingredients to create a suitable summer drink. Case Study of International Marketing Strategy in PepsiCo.

    The company was launched officially in the year 1902. The beginning of Pepsi Cola was in the back room of his pharmacy, but recognizing its potential, Caleb soon started bottling the product so that people all over can enjoy it. As the years passed, Caleb started franchising the bottling of the drink to different people in different locations. Soon Pepsi Cola was being sold in 24 states across the United States.

    When World War I broke out, the company went bankrupt and Caleb had to sell the trademark to a stockbroker from North Carolina. But he too could not revive the business. It was the candy manufacturer, Charles G. Guth, who bought it from the previous owner and revive it into the global brand it is today. Its marketing plan started even when the company was in the hands of Caleb and grew with the company. It was during World War II that the company adopt the red white and blue emblem to depict patriotic America.

    The color code still exists today through the emblem has evolved many times. It was after 65 years after the sale of its first cola that PepsiCo started its diversification into other foods and beverages. Now the company not only sells Pepsi, its main brand, but also other items like Quaker Oats, Aquafina, Tropicana, Mountain Dew and Lays. It also had an alliance with companies like Starbuck’s and Lipton to come out with special coffee and tea.

    PepsiCo Marketing, and Promotional Strategy in the Market.

    The current marketing strategy adopts by PepsiCo Inc. is definitely one that caters to its global standing. Since Pepsi came out at a time when Coke or Coca-Cola already have a head start in the market, it’s market strategy and the business plan began with differentiation – an attempt to establish its product as one that is unique in taste and quality. This approach was successful to a great extent and Pepsi was able to establish itself in the US markets.

    Later the plan shifted to comparative marketing and later to diversification. Pepsi’s promotional campaigns had a lot to do with its success. Pepsi’s market environment always presented it with a challenge in the form of Coke which had already created a niche for itself. In the 1940s to create a niche among the African American, Pepsi created a scholarship program that awarded 17 African American high school seniors full-time scholarships. During the same time, the ad campaigns of Pepsi featured top people from the African American community and they called it “Leader in their field” campaign. This campaign was quite a breakthrough and really made an impact.

    It opened up a whole new market segment for the company. In the 1960s, Pepsi’s campaign was aimed at teenagers and young adults – beach bursting of youngsters having fun and drinking Pepsi was quite a common theme and popular too. It showed that Pepsi was the drink for partying and hanging out with friends, something the American youth could easily identify with. The “Pepsi Generation” theme became highly popular and the drink started creating a niche for itself among the young of the country.

    At first, it calls “think young” campaign. This later evolved into “come alive” in the year 1965. This is when the term “Pepsi generation” was first introduced to the people. In the 1970s Pepsi came out something called the “Pepsi Challenge”. This campaign was aimed at proving Pepsi as a better-tasting drink than its rival Coke and involve blind tasting of the two products to choose the better one.

    Even though this helped improve the market share of PepsiCo, Coke still led the market. Pop icons like Michael Jackson and Lionel Ritchie and youth sensation like Michael J Fox became part of the Pepsi campaigns in the 1980s whereby Pepsi began to beat Coke and come out the winner. They had a huge fan following and when they saw endorsing the brand, the impact was instantaneous. Pepsi also exploited famous movies of the time like Star Wars to improve their brand image and create interest among the people.

    However, Pepsi chose to replace the “Pepsi Generation” campaign with “Gotta Have It” at the beginning of the 1990s. This turned out to be an erroneous move and Coke again started to gain market share.

    Pepsi Marketing Blunders.

    One of the major blunders that Pepsi did in its marketing runs is the literal translations of some of its slogans into other languages. For example, PepsiCo’s slogan “Come Alive with the Pepsi Generation” when translated into Taiwanese meant “Pepsi will bring your ancestors back from the dead” and caused great damage to its image. It was a perfect example of the wrong market message.

    Similarly, the goodwill of the company suffered a heavy blow when its bottle cap campaign (number inside the cap and a few winning numbers win fabulous prizes) in Chile ended in the wreckage of the company. This was caused by wrong fax being sent and the wrong number announce on TV. Almost a similar incident repeat in the Philippines as well a few months later when, due to a computer glitch, instead of one winner several winners were announcing for the bottle cap sweepstakes. Instead of learning from a blunder in one country, it was repeating in another, causing further harm to its brand image. A more recent marketing blunder happened in the United States of America itself.

    In 2010, Pepsi decided not to spend big bucks for sponsoring the Super Bowl. The Super Bowl is a sporting event in the States that is watching by almost all Americans and hence its wide reach is indisputable. Instead, it decided to do social marketing through its Internet-based “Refresh” campaign. Though the effort was commendable it was a major blunder. Instead of using the Super Bowl to further give the limelight to the Refresh campaign, it completely missed the opportunity paving way for others to make use of the spot.

    When Pepsi and the Cola Wars.

    The cola wars began somewhere in the mid-1950s. The main players in the war were Pepsi and Coca-Cola. The two companies had been in rivalry ever since Pepsi came out with its first cola. But the rivalry reached its zenith in the 1980s and 1990s. The main point was neither company had a cost advantage. Hence promotion was the main way of competing. In the 80s Pepsi started coming out with campaigns that undermined Coke.

    For example, a Pepsi and came out which showed a group of retirement home people dancing to rock ‘n roll when they get the wrong delivery of a Pepsi crate instead of Coca-Cola. It also used celebrity advertising vigorously. This gave Pepsi a lead in the market, though short-lived.

    In the 1990s Coca-Cola was beating Pepsi by huge margins again. The war was quite cutthroat with Coca-Cola doing everything possible to outrun Pepsi. This included stealing Pepsi’s bottlers, hoarding of Pepsi bottles and creating ads that hinted at ridiculing the Pepsi brand. In many countries, Coca-Cola was forcing retailers and bottlers to boycott the Pepsi brand. Upon learning about this Pepsi filed several anti-competitive cases out if which they won around 70. Yet, at one stage of the war, Pepsi’s market value fell to less than half of Coca Cola’s market value.

    Coca-Cola was and is still leading in when it comes to the market share of its cola brand. The only way Pepsi could fight back was through diversification. It started spreading its wings to include sports beverages. Varied versions of the Pepsi drink and non-carbonated beverages in its portfolio. It started considering itself as a “complete” beverage company. The diversification further happened to include snacks and food items like potato chips and oats. Diversification really helped Pepsi to improve. PepsiCo is falling stands in the market not only in the local markets of America and Europe but also in its international markets where Coke is leading the show.

    When Pepsi Goes International and Its Global Marketing Plans.

    In the 1940’s itself, PepsiCo started branching out into the international arena. At first, it was into Latin America, the Middle East, and the Philippines. Here too Coke had the early bird advantage. Yet the product soon gained popularity. With the Arab countries boycotting Coke, Pepsi enjoyed a monopoly for many years in the Middle East.

    In the 1950s Pepsi went to Europe and this included Russia, with whom there existed a Cold War by the USA. Though there were initial difficulties, getting into Russia was a major breakthrough which the company exploits. The company posted pictures of the then leaders of the United States and Russia sipping the drink.

    Its arch-rival, Coca-Cola, was able to enter the Russian markets only after more than 25 years after Pepsi’s entry. In many of the countries that Pepsi venture into comparative advertising was prohibiting and in many countries, it was not an accepted concept. For example, Pepsi tried its “Pepsi challenge” promotional gimmick in Japan. However, the country and its people were not aware of comparative advertising and as such the campaign did more harm than good.

    Hence in Japan, they have to break their tradition of running with the global campaign and come up with a campaign that the Japanese would identify with and was more Japanese. The “Pepsiman” was a superhero-like a figure. That was devised by a Japanese person for the Japanese market. The commercial was an instant hit and help improve Pepsi’s share in the Japanese market by as much as 14%. From Japan Pepsi learned a valuable lesson – the same ads will not have the same effect everywhere.

    When it comes to cross-national advertising, there is always the inherent risk of alienating the people. With the Indian markets, Pepsi had the first-mover advantage over Coke. PepsiCo had coined its own special slogan for the Indian market too that became quite popular with the crowd. Yet Coke re-entry into India was a great threat to the company. Coke signing on youth icon and Indian star Hrithik Roshan to do their campaign was an even bigger threat.

    However, Pepsi reverted to the old ploy of slowing down the competition. They featured the king of Indian movies, Shah Rukh Khan and a Hrithik look alike. This comparative ads were effective and brought Pepsi back into the spotlight. In the USA and European markets, Pepsi still uses promotional campaigns that aim to break the color barriers with stars like Britney Spears, Beyonce and Haley Berry appearing in its ads.

    The brand and PepsiCo products are highly popular in these areas. In the international arena, Pepsi has been able to create a niche through its vigorous advertisement and event sponsorship. In fact, more than 45% of the total revenue of the company comes from its market outside the USA. However, the company has experienced many setbacks due to its many blunders have cost it valuable market share.

    Case Study of International Marketing Strategy in PepsiCo - ilearnlot
    Case Study of International Marketing Strategy in PepsiCo, Image Credit from ilearnlot.com.