SmartBackpacker Crowdsourcing App - Free Essay Example

SmartBackpacker App 1. Executive Summary SmartBackpacker is a paid crowdsourcing app that will provide travelers with up to date reviews, recommendations and tips from other travellers. From the best places to get your laundry done in Timbuktu to the best stall to buy a taco in Mexico City, SmartBackpacker will hopefully become the must have app for all smart travelers. The success of this app will rest on providing the end-user trustworthy and useful information. The success of this app is also highly dependent on user participation as it is the user who will be posting reviews and sharing their travel knowledge. One of the innovative features of this app is that it will allow users to upload video reviews of places they have stayed, places they have eaten or fun, quirky things that might be off the beaten trail. It is hoped that this feature, along with the clean and easy to use user interface will propel SmartBackpacker to the head of the growing travel app market. SmartBackpacker is both the name of the company and the first product that this company will be launching. All future products will be launched under this company but with different names to reflect the target market. Future products could include SmartWeekends for weekend travelers, SmartStaycations for those looking for travel information in the UK and SmartBusinesstravele r for business travelers. This report will focus on the fir 2. Mission, Vision and Culture SmartBackpacker aims to harness the power of the crowd like no other travel app has managed to do before. Printed travel guides such as The Lonely Planet and The Rough Guide have long been essential purchases for tourists. However, these publications are usually updated every two years and dont provide travelers with up to date information. They are written usually by one person and dont really cater to everyones tastes. Usually they only cover one region or country, meaning that if the traveler is embarking on a multi-country tour they have to purchase more than one of these heavy and expensive guides. As smart phones become more prevalent and WiFi and mobile coverage now standard even in places far off the beaten track, it makes sense for travelers to leave their cumbersome, outdated travel books at home and travel with their phones loaded with an app that is constantly updating them with useful and relevant information. If one user had a killer Mojito in a bar in Sydney they can share that information instantly on SmartBackpacker. King (2002) argues that, â€Å"it is the customer who can decide how and when they access their travel and tourism information and how and through what process they access and purchase their travel and tourism arrangements† (p. 106). SmartBackpacker aims to be at the heart of this customer-focused movement by getting tourists to share information directly with each other, bypassing all the traditional channels. This business has to be built on a culture of trust. Users have to be able to trust the information that they are being given. It is this trust that will engender positive feelings towards the product and prompt people to post their own reviews. Surowiecki (2004) argues that, â€Å"under the right circumstances, groups are remarkably intelligent† (p. xiii). This app will use this group intelligent to improve the travel experience for everyone using this product. SmartBackpacker will be the f irst in a long line of travel related apps from this company. 3. Company Objectives The objectives of this product are as follows: 1. To become the most trusted source of travel information in the growing travel app market. 2. To identify the target market and build up strong brand awareness here. 3. To use the knowledge learned and the success of SmartBackpacker as a springboard to launch other paid travel related apps 4. Opportunity Analysis and Research Tourism is an extremely diverse activity ranging from a weekend shopping trip in New York to a month long trek in the jungles of Borneo. However, one thing that unites all tourism activity is that it usually implies that people are traveling to somewhere new. Information about their surroundings is therefore key to the enjoyment of their experience. However, because tourism is such a diverse activity, it is important that SmartBackpacker is able to identify a core market within which to operate. Since this app relies on user generated content and crowdsourcing, it is important that, for the most part, the users all share the same broad area of interest. For this reason, SmartBackpacker will be aimed squarely at young, tech savvy travelers who probably already use social networking sites in their daily lives and are used to the concept of crowdsourcing. These are travelers who are either taking a gap year or are taking an early career break. Perhaps the best definition of t his market comes from Riley (1988) who states, â€Å"in general they are future pillars of society, on temporary leave from affluence, but with clear and unwavering intentions to return to a normal life† (p. 314). This app would also be useful for younger people taking short trips such as weekend city breaks. 4.1. Industry Analysis 4.1.1 Tourism Market In 2009, visits abroad by UK residents fell by almost 15% on the 2008 figures (ONS, 2010). However, in the second half of 2010 there appears to be signs that international travel is slowly bouncing back. Jarvis (2009) observes that the backpacker market seems to be bucking the decline that has been witnessed in other parts of the travel industry. Australia, a particularly popular backpacker destination for young British travelers has witnessed an increase in international arrivals. This report would argue that in the recession, young people are probably delaying entering the job market for as long as possible. The backpacker market could also be growing due to the fact that so many people have lost their jobs in the past few years. Instead of rushing back into the job market, these young people are choosing to use the time to travel. 4.1.2 Smartphone Market The launch of the iPhone in 2007 signalled the start of all out war in the smartphone market. Phones running the Symbian operating system are the current global leaders with Googles Android system in second place, closely followed by Apple and Research In Motion (Gartner as cited in The Guardian, 2010). Android seems to be the clear winner at the moment, experiencing 22% growth from Q3 2009 to Q3 2010. Symbian lost 8% of its global market share in the same period while Apple also fell by 0.4% (Gartner as cited in The Guardian, 2010). The UK smartphone market seemingly mirrors these global market trends. However, ownership of smartphones is extremely high, accounting for almost 75% of the total mobile phone market. Apples launch of the iPad in early 2010 has also seen a surge in small, portable tablet devices. Although SmartBackpacker will be available on the iPad, the launch of this product will mainly focus on functionality in the smartphone market. 4.1.3 App Market The growth in the smartphone market has also given rise to the app market. Apps are small applications that users can download, either for free or for a small fee that take advantage of the phones advanced processing capabilities to allow users to get the most out of their phones. Thanks to apps, smartphones are now portable gaming devices, gps devices or ereaders. Apple have seemingly been the most successful at realizing the potential of this market. Apps are developed by third parties and then put of Apples online App store. The developers of these apps receive two thirds of the revenue generated from the sale of their apps. Developers can also incorporate Apples iAd system into their apps and earn extra revenue throug h advertising. The success of the app store has been staggering. Since launching in 2008, the app store has had over 3 billion downloads (apple.com, 2010). Developers who have been able to develop easy to use, useful apps have been quick to see huge rewards. One good example is the company Pusenjak, whose 59p app Doodle Jump has been downloaded well over 3.5 million times. This has made the two developers millionaires (mediamemo.com, 2010). The App store for Googles Android is not as well defined in that Apps are not available from a central source, like they are in Apple. Developers have been slow to adopt the Android operating system. However, the surge in the popularity of this system should soon see the popularity of apps on this platform surge as well. Smartbackpacker initially wants to launch on the Anroid and Apple iOS platforms. It is felt that the centralized market that Apple provides should ensure maximum visibility so the focus of the launch will be on the Ap ple version of the app. The travel app market is fairly crowded and already well-established brands such as Lonely Planet and Rough Guide have a presence here. However, none of the existing apps make it particularly easy for other travelers to share information with each other. The flow of information is distinctly one-way. As already stated, this app will allow users to post video reviews. This innovative feature, along with the easy to use interface should help to propel SmartBackpacker to the top of the travel app market. 5 PEST Analysis The purpose of this analysis is to focus on the external factors that could impact on the success of this venture. 5.2.1 Political Factors Tourism is a highly unpredictable product and one that is sensitive to external shocks. Tarlow (2006) notes that, â€Å"tourism sells a highly volatile and capricious product† (p. 84). Terrorism attacks or changes in the global economic situation can change the supply and demand nature of tourism meaning that there is less of a market for this particular product. However, this report would argue that the need to travel and explore is hardwired within us. As one market dwindles, another one opens up. This report would argue that the target market for this product is a fairly adaptable one. If civil unrest threatens stability in Central America, backpackers will simply plan to travel elsewhere. 5.2.2 Economic Factors As this report has stated, the global economic crisis has severely affected international travel from the UK. However, there are signs that this is bouncing back. This report has also found that the backpacker market seems to be fairly recession proof. In fact, this report would argue that this particular market could actually witness growth in coming years as young people delay their entry to the job market until the labour market picks up again. The target market for this app would probably prefer to be traveling rather than looking for a job. 5.2.3 Sociocultural Factors The UK has a strong culture of encouraging gap years. These young people taking a break before starting university are at the core of this products core market. The government is encouraging more people to go to university so it is possible that the gap year market could grow even more in the coming years. The growth of budget airlines such as EasyJet and Ryan Air has also led to more people being able to take short weekend breaks to European cities. Another target market for this app is these weekend tr avelers looking for a bit of adventure off the beaten track. Shani et al (2010) observe that travelers are now more trusting of autonomous sources of information. We trust these autonomous sources such as customer reviews more than we do more formal types of information such as guidebooks. They state that, â€Å"the boundaries between the induced and autonomous factors seem to have blurred in recent years† (p. 117). It is the belief of this report that SmartBackpacker can become one of these trusted autonomous sources. Tourists are now also increasingly motivated by a desire for real experiences in their tourism. MacCannell (1989) states that, â€Å"touristic consciousness is motivated by its desire for authentic experiences, and the tourist may believe that he is moving in this direction, but often it is very difficult to know for sure if the experience is in fact authentic† (p. 101). SmartBackpacker will allow tourists to share these ‘authentic expe riences with each other. Although there is a danger that as more tourists have these ‘authentic experiences, the less authentic they actually become. However, the type of tourist that this app is aimed at is inquisitive by nature and will be constantly searching for and sharing new experiences. Fyall and Garrod (2005) argue that tourists are growing increasingly bored of being passive spectators. They want to experience and explore. This report would argue that tourists are the best marketers for destinations so why not harness this power? 5.2.4 Technological Factors The smartphone market is a fairly new one and this report would argue that it will only continue to grow and become more accessible to more and more people. As it grows, the infrastructure that is needed to support it will also continue to improve. This app relies on people being able to post their experiences pretty much while they are having them. In some parts of the world, this is still hard to do. However, as the technology spreads, this will get easier and easier. 6. Marketing Strategies The following marketing strategies have to work towards meeting the objectives as set out in Section 3. 6.1 Target Market This report has already defined the target market for this particular product. 6.2 Product Strategies McGrath (2001) states that a product strategy is, â€Å"like a roadmap, and like a roadmap its only useful when you know where you are and where you want to go† (p. 3). It is important that this first product from SmartBackpacker is able to set the benchmark for possible future products. Crowdsourcing is an important way of democratizing the information that is available to us. However, this information has to be trustworthy, otherwise people will simply turn to other products. By clearly defining the target market for each product launched, this company should be able to give people exactly the information they need. A business traveler is unlikely to want the same information as a backpacker so each product has to be specifically tailor ed to meet the specific demands of each target market. The knowledge learnt from the development of SmartBackpacker can be utilized in the development of future apps for other sectors of the travel and tourism industry. 6.3 Pricing Strategies Tellis (1986) argues that pricing strategy is defined as, â€Å"a reasoned choice from a set of alternative prices (or price schedules) that aim at profit maximization within a planning period in response to a given scenario† (p. 147). He then observes that, â€Å"in a shared economy, one consumer segment or product bears more of the average cost than another, but the average price still reflects cost plus acceptable profit† (p. 147). The main source of income for this company will be from users paying to download the app either from the Apple app store or from the various Android app markets. As Tellis points out, the pricing strategy should reflect the prices of other apps in this category. Based on this, this repor t would recommend initially pricing the app at  £1.99. It might be possible to look at integrating some sort of advertising feature into later versions of this app, but initially it is important for the user interface to be as clean as possible. This will enhance the user experience and encourage people to use the app to share their tips and recommendations with others. This report would argue that usual models of consumer decision-making dont really apply to this particular market. Because apps are usually so cheap, or even free, people can rely on more than one app in that category. For example, someone using SmartBackpacker could also have Lonely Planet loaded up on their iPhone or HTC phone. 6.4 Promotion Strategy The launch of this product will be supported by a well designed website, a twitter site and also a facebook site. The rise of Web 2.0 has made advertising to a specific target market far easier and far cheaper than it used to be through more traditiona l channels. The use of these new channels should ensure that the target market is reached and that the product receives maximum exposure. Combined with a low price point, this app should quickly be adopted by those already traveling or those planning trips. This app relies on user experiences so it is important that it is quickly adopted and users start to share experiences with each other. 6.5 Distribution Strategies As already stated, this product will be distributed through Apples App Store and also through the various Android marketplaces. The launch of the first product will be specific to these two platforms but could expand to other platforms at a later date. Bibliography and References Arthur, C. (2010). Visualising the smartphone market change: Android leaps, Nokia wobbles. The Guardian, 10 November. Brabham, D.C. (2008). Crowdsourcing as a model for problem solving. International Journal of Research into new Media Technologies. 14(1), pp. 75-90. Fyall , A. and Garrod, B. (2005). Tourism marketing: a collaborative approach. London: Channel View Publications. Jarvis, J. (2009). Billion dollar backpackers: Recession resilient [online] Available from: https://www.south-pacific.travel/news/whats_new/backpack_jjarvis.pdf [Date accessed: 23 November 2010] MacCannell, D. (1989). The tourist: a new theory of the leisure class. California: University of California Press. McGrath, M.E. (2001). Product strategy for high technology companies: accelerating you business to web speed. New York: Mc-Graw-Hill Professional. Mediamemo.com (2010). Meet the App Store millionaires: The brothers behind Doodle Jump [online] Available from: https://mediamemo.allthingsd.com/20100405/meet-the-app-store-millionaires-the-brothers-behind-doodle-jump/ [Date accessed: 23 November 2010] ONS (2010). International Travel [online] Available from: https://www.statistics.gov.uk/cci/nugget.asp?id=178 [Date accessed: 23 November 2010] Reily, P. (1988). Road culture of International long-term budget travelers. Annals of Tourism Research, 15, pp. 313-328. Shani, A., Chen, P., Wang, Y. and Hua, N. (2010). Testing the impact of a promotional video destination image change: application of China as a tourism destination. International Journal of Tourism Research, 12(2), 116-133. Surowiecki, J. (2004). The wisdom of crowds: Why the many are smarter that the few and how collective wisdom shapes business, economies, societies, and nations. New York: Doubleday. Tarlow, P.E. (2006). Terrorism and Tourism, in J. Wilks, D. Pendergast and P. Leggat (eds) Tourism in turbulent times: towards safe experiences for visitors. London: Elsevier, pp. 79-92. Tellis, G.J. (1986). Beyond the many faces of price: an integration of pricing strategies. The Journal of Marketing, 50(4), pp. 146-160. Find out more from UK Essays here: https://www.ukessays.com/services/example-essays/marketing/marketing-plan-app.php#ixzz3EEYub HPT

Analysis Of Why The Caged Bird Sings - 871 Words

In the poem, â€Å"I Know Why The Caged Bird Sings† by Maya Angelou, one bird is free to fly happily and carefree while another is caged and can do nothing but sing for freedom. Written during a time period of social unrest, Maya Angelou uses literary techniques in this poem to effectively emphasize the impacts of racism in America. One literary technique used throughout the poem is tone. In stanza one, the tone is peaceful and happy as Angelou describes â€Å"the orange sunrays†, while the bird â€Å"leaps†,†dips†, and â€Å"floats†. The author creates this joyful tone in the first stanza to better contrast the depressing and the unnerving tone of the second stanza. In the second stanza the birds’ â€Å"wings are clipped† and â€Å"his feet are tied†. When a†¦show more content†¦The free bird represents freedom and those who have it. He is able to go as he pleases and do whatever he wants to do. He â€Å"thinks o f another breeze† because he isn’t burdened with wanting to be free. He can’t wish to be free when he already is. The other bird whose â€Å"wings are clipped and his feet are tied† symbolizes how people of color in America feel. Unlike the free bird, the other sang of things unknown but â€Å"longed for still†, who are born into today’s society have no idea what freedom of oppression feels like but they still wish and fight for it. While the birds are large symbols in this poem, Maya Angelou uses many other small symbols to emphasize the impacts of racism. The â€Å"distant hill† where the song of the caged bird can be heard represents the people able to help. Another symbol is the bird’s song. While it could represent calls for help, it could also represent the songs, poems, and literature created by people of color to express themselves and spread awareness of their situation. Characterization is another technique that Maya Angelou uses to help the reader better understand the effects of racism. The characterization in the poem â€Å"provides an effective contrast with the bird that is caged† (Enotes). The characterization of the caged bird’s shadow shouting â€Å"on a nightmare scream† provides the feeling of helplessness of those who are affected by racism. The free bird, however, is characterizedShow MoreRelatedAnalysis Of The Poem I Know Why The Caged Bird Sings 1267 Words   |  6 PagesJoy McQueary Ms. Ball AP English Language 16 May 2017 SAHC: J.M. I Know Why the Caged Bird Sings â€Å"Wouldn’t they be surprised when one day I woke out of my black ugly dream, and my real hair, which was long and blonde, would take the place of the kinky mass that Momma wouldn’t let me straighten?† (4) A theme in I Know Why the Caged Bird Sings is Angelou’s identity struggle as a black female. 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Ethical Issues Of Securing Data Security - 1682 Words

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Childhood Memories Essay - 1363 Words

Lesson 8 By 1900s the meaning of American identity at home____________ excluded more people than previously Progressive reformers were primarily concerned with____________ making democratic capitalism work better American women of the late nineteenth and early twentieth centuries found that the settlement house movement_________________ was a good place to use their talents to help society Progressives launched the social purity movement to___________________ attack prostitution and other vices Progressives justified segregation on the grounds that it_________________ provided for a more stable society As a reform governor of California from 1911 to 1917, Hiram Johnson_________________ supported the initiative,†¦show more content†¦economy was marked by______________ a huge disparity in wealth between the rich and poor One of the biggest weaknesses of the stock market in the 1920s was_______________ over extension of credit On the international level, the Great Depression deepened when the_______________ industrial nations raised protective tariffs As the United States slipped into the Great Depression in the early 1930s, President Hoovers most generous response was to lend government funds to__________________ American banks, insurance companies, and railroads Those hardest hit by the Great Depression were_______________ the unemployed, tenant farmers, and sharecroppers In the video, The Great Depression, Professor David Kennedy observes that the tendency of Americans in the 1930s to blame themselves for the depression illustrates the_____________ dark underside of the American value of individualism The outcome of a protest by three thousand farmers who dumped thousands of gallons of milk into ditches during the Great Depression was______________ an increase in the publics awareness of farmers grievances During the Great Depression__________ socialist andShow MoreRelatedMemories Of Childhood Memories702 Words   |  3 Pagesis obvious that our childhood memories are not accidental. When you are a child every scent, every sound, every move, every toy, the first day of school, the first kiss, the first step. Everything together makes what is the personality of a man. All these are pieces of one whole entity. My childhood was filled with memories filled with emotion and meaning. But which of the memories I have is the brightest and most emotional for me? I then realized that the best childhood memory does not always haveRead MoreChildhood Memories2400 Words   |  10 PagesChildhood is the most innocent phase of mans life. With the passage of time, it fades into adolescence and adulthood. Yet the sweet memories of childhood linger on. My childhood recollections are those of a sheltered and carefree life, nurtured with love and concern. As I was the first child in the family, everybod y doted on me. My funny lisping, my innocent mischief and my inane talk-everything was a source of immense pleasure to them. There was never a word of reproach or censure against meRead MoreEssay On Childhood Memories1065 Words   |  5 Pagesis difficult, especially when the memory is from the person s childhood. If the child was under three years old then they will have child amnesia also known as infantile amnesia. Conversely at the age four years old and younger the children will not be able to hold the memories, making all of them forgotten. Jim has just learned that his memory of his parents winning the lottery was wrong, and there are many different reasons as to why his perception of the memory is wrong. For Jim, he could haveRead More My Childhood Memory Essay755 Words   |  4 PagesMy Childhood Memory It was the fourth grade. I always heard rumors and gossip about a certain teacher. This year, kids said to take any teacher except Mrs. Williams, the oral project teacher. Of course in elementary, we did not have a choice of which teacher to choose. Boy, I was shocked when I glanced at the window that had my schedule. Just by looking at that plain white piece of paper sticking on a safety-glass window, I knew it was going to be a bad year. The old, grouchy, strict, and meanRead MoreChildhood Memories And Its Effects On Our Lives1173 Words   |  5 PagesWe each have memories, both from long ago and recent times, that we hold dear to us. Memories get us through the hard days and keep us chipper in the good ones. The past is what makes us who we are. It shapes how we act, how we treat others, and simply just what we do on a day to day basis. Memories are the little things that keep this world running smoothly. Imagine what it would be like to lose those memories. What if you were to forget things to the point you were losing your functionality?Read MoreChildhood Trauma And Its Impact On Memory2617 Words   |  11 PagesMemory provides individuals with an understanding of who they are; allows one to remember or reflect on the past; consider ideas and execute skills in the present; and learn, strategize, and resolve issues based on prior knowledge and experiences. More importantly, memory is an essential cognitive ability which enables one to carry out executive functions. Skills such as planning, problem solving, reasoning, decision making, organization, and multi-tasking all rely on intact memory abilities. WithRead MoreMy Memories Of My Early Childhood Essay1903 Words   |  8 PagesMy earliest memory I remember as a child is around the age of two years old. My Mother would put me in the playpen but I refused to stay. I was able to climb out of it. I remembered my Mother’s face expression that let me know that I better not climb out of the playpen a gain. This was one of my earliest memories of her setting her boundaries. When I got older, my Mother told me about the situation. She needed to clean and/or cook so she had to put me in the playpen. At the age of two years old,Read MoreMy Memories Of Childhood Through The Present Day Essay893 Words   |  4 Pages1. â€Å"Reflect upon your own life from your earliest memories of childhood through the present day. Using the material you have learned in this class and your experiences with being a virtual parent, discuss 3 aspects of your development: social/emotional, cognitive, physical or your personality/temperament.† A) Social/Emotional: As I child I wasn’t the child that cries a lot or was whining. According to my mom I was always quite, and I didn’t have much interest in to cartoons. My mother also mentionedRead MoreMy Childhood Memories Essay1505 Words   |  7 PagesFor the first two planes of my development, the majority of my memories are fighting with my parents and siblings. I have never really gotten along with my family and I don’t know why. I guess it’s because my mother’s and personalities are too similar and they clash.There have been lots of crucial things in my life that have made me into the person that I am today. Not all of them have been great, or something that I want to remember, but some are great and I never want to forget them. The fact thatRead MoreChildhood Amnesia and the Beginnings of Memory for Four Early Life Events1228 Words   |  5 Pagesreport memories dating from much before about three years of age. For the purpose of this a ssessment I have chosen the ‘Childhood Amnesia and the Beginnings of Memory for Four Early Life Events’ conducted by JoNell A. Usher and Ulric Neisser, published in 1993 in the Journal of Experimental Psychology: General. Therefore, in the following paragraphs I will outline the aim of the study, the methodology and the overall findings. The current research indicates that most of the early memories are of

The Film Thor ( 2011 ) Directed By Kenneth Branagh

Sierra Burow 4/16/15 SCAN 3202 The film Thor (2011) directed by Kenneth Branagh is a piece of contemporary expressive culture that draws from many various components of Norse mythology. Of the mythological characters being used, the most prominent in the film are Thor, Odin, Frigg, Sif, and Heimdall. The contemporary depictions of these characters parallel and diverge their depictions in original old Norse mythology sources in numerous ways. These original sources include but are not limited to The Prose Edda by Snorri Sturluson and The Poetic Edda translated by Carolyne Larrington, both being revered and treasured by scholars and Norse fans alike. The contemporary portrayals of Norse mythological characters in the film Thor took the form they did for a variety of reasons, the foremost being Judeo-Christian influence, followed by the objective to create a film that is contemporary and relatable to a wide demographic. In Marvel’s 2011 film, Thor could be described as a cross between an alien, super hero, and a God. However according to Norse myth, he is a God that presides over the air, including wind, storms, rain, and therefore crop growth and fertility. He is the most valiant of the Gods despite his inevitable doom in Ragnarok; he is committed to protecting humanity, hyper-masculine, and wields a powerful hammer that boomerang’s back to him when he throws it and helps him in his duty to protect humanity against evil (Lindow 486 (Thor’s Hammar)). Thor primarily specializes

New Product Launch Free Essays

NEW PRODUCT LAUNCH: UB GROUP – SOFT DRINK â€Å"MIST† COMPANY OVERVIEW United Breweries Limited (UBL) – has assumed undisputed market leadership with a national market share in excess of 50%. Through a process of aggressive acquisition and market penetration, The UB Group today controls 60% of the total manufacturing capacity for Beer in India. The flagship brand, Kingfisher is now sold in over 52 countries worldwide having received many accolades for its quality. We will write a custom essay sample on New Product Launch or any similar topic only for you Order Now MACRO-ENVIRONMENTAL ANALYSIS Political Factors The political forces affect the beer industry to a large extent. The rates of the beer in various parts of the country are affected by the taxes and duties applied by the Govt. The political forces also affect the pricing of the beer by lowering the duties or deregulating the distribution channel. This leads to lower margins for the distribution channel partners. But, as 75% of the Indian market is covered by two players, there hasn’t been a reduction in the margins of the manufacturers. The taxation policies also affect the consumption patterns. Economic Factors India is home to nearly one-sixth of the global population and is one of the most attractive consumer markets in the world today. The total worth of Indian Beer Market is Rs 750 crore. This market is expected to expand by 39% by 2010. The beer consumption has been growing at a CAGR of 7% over last nine years. India provides attractive profit margins due to the consolidated nature of the industry. Various research studies have shown that a rise in the income levels has a direct positive effect on beer consumption. The National Council for Applied Economic Research (NCAER) projects India’s ‘very rich’, ‘consuming’ and ‘climbers’ classes to grow at a CAGR of 15 per cent, 10 per cent and 2 per cent respectively. Thus, India gives ample opportunities for the UB Group to grow. Social Factors A deep-seated traditional social aversion to alcohol consumption has been a traditional feature of the Indian society. However, as urban consumers become more exposed to western lifestyles, through overseas travel and the media, their attitude towards alcohol is relaxing. Social habits are undergoing a transformation as mixed drinks are becoming more popular. The greatest evidence of this trend is the increase in beer consumption among women. More and more women are consuming beer – the penetration in metropolitan areas is almost twice as high as the penetration in other large cities – implying that the greater tolerance towards alcohol consumption in metropolitan areas facilitates the consumption of beer. With increasing urbanisation, this acceptance is only going to rise. As a consequence of the high birth rates prevalent until the 1990s, a large proportion of the Indian population is in the age group of 20-34 years. This age group is the most appropriate target for beer marketers. This population trend will give a further boost to the growth of beer consumption in India. Technological Beer industry is not technology specific. As the UB group is one of the oldest players in the market, they have achieved economies of scale. Thus, technological factor is not of great importance for the beer market. SWOT ANALYSIS PORTER’S FIVE FORCES MODEL Threat of new Entrants – Low In India, beer industry is growing with 11% CAGR making it attractive for new players. Strong brands like Kingfisher and Hayward’s which are already established and have strong brand recall will make it tough for new entrants and they are expected to struggle to expand their consumer base as they try to penetrate the beer market in India. Foreign brewers have been eyeing the Indian market for some years now since India is widely acknowledged to be the last untapped big growth market. Several international brewers have built brand associations and are marketing their brands aggressively through various point-of- sale promotions throughout their distribution networks. But with strong players in the market any new entrant will face problems of: a) Economies of scale – For example benefit associated with bulk purchases and sales – create high barriers to the national and global markets ) Cost of entry – For example investment in technology, costs associated with sales c) Distribution channel For example ease of access for competitors d) Government Legislations -Introduction of new laws might weaken have adverse effects e) Differentiation – For example certain brands that cannot be copied f) Supplier power – Possibility of forward integration by supplier Bargaining power of suppliers â₠¬â€œ Low Due to increasing costs of raw material and decreasing cost of barley suppliers, bargaining power of suppliers was high but by doing backward integration, done by acquiring Maltex Malsters Ltd. and shifting their production of beer on malt the company has achieved a hold on its raw material and considerably reduced supplier strength and dependency. Company has also entered into collaboration with Government of Punjab and Haryana for supply of its raw material. Bargaining power of buyers – Moderate This factor measures the extent to which customers are successful in forcing prices down, or securing high quality or more service at the same price. Customers tend to be powerful when the quantities they purchase form a large portion of the seller’s total sales. Buyers do have a very clear understanding about the quality and as there are very few players in the market the customer cannot influence the price in any significant way. But while this is true a decline in consumable income shifts consumer preferences away from premium brands to lower-priced brands since the switching costs is low. Due to this the bargaining power of buyer tends to increase. Threat of substitutes – Moderate India is predominantly a spirits market and beer has traditionally been a minority preference for those who consume beverage alcohol. Therefore substitutes are the biggest threat as preference for beer among alcohol beverage drinkers is less but also the low penetration in beer consumption in comparison to international levels offers the potential for substantial and sustainable growth in demand for beer in India for years to come. Rivalry amongst Competitors – Low to Moderate Rivalry is the means through which competitors fight for position by using tactics such as price, competition, advertisement battles, and new product introduction, to lower the profits of competitors in the industry. As stated above CAGR of 11% is expected for beer in the next 5 years due to which many MNCs are eyeing the Indian market. Currently the major rivals for Kingfisher Premium are Budweiser, Carlsberg, Foster and Tiger and for Kingfisher Strong it’s Hayward 2000, Hayward 5000, Palone. SABMiller who came to India by acquiring small breweries and has made its hold as best-selling strong beer brand but still Kingfisher has managed to remain the largest-selling strong beer brand with 29% market share. There are also some small local players hat are in the market but are not much of a threat to Kingfisher. STRATEGIC FIT OF MIST WITH UNITED BREWERIES GROUP The UB Group (United Breweries Group) is a multi-faceted conglomerate with business interests in Beverage Alcohol, Pharmaceuticals, Media, International Trading, Aviation, Fertilizer, Research Development, and Infrastructure Development with a major focus on the brewery (beer) and alcoholic beverages industry most of which is markete d under the Kingfisher brand. UB Group is already planning to venture into the mineral water segment via the Kingfisher Himalayan Water Brand. Thus strategically thinking Mist will be a perfect fit in the UB Group’s expansion plans. In fact introduction of a soft drink will make UB Group present in all versions of drinks and will be a wonderful way to reach out to customers who admire the Kingfisher brand but do not consume alcoholic beverages. Launching Mist will be a form of line extension and will help it respond to customer’s needs favorably. If we see the attributes of Mist, i. e. adventure, energy, fun and the â€Å"Hat Ke† attitude; it is very much in sync with the existing brand image of UB Group. Mist being a soft drink, it is very necessary to ensure proper distribution of the product. This is where UB Group can use its core competency of having a strong distribution network and bank upon its reputation regarding the stringent quality control measures it follows. Also if we look at the soft drink market, the only direct competitor of Mist is Mountain Dew and the market for soft drinks providing the set of benefits as Mist is in a growth stage. That makes it a perfect moment to introduce a drink like Mist under the Kingfisher brand name. Considering the sync between Mist attributes and Kingfisher’s brand image, we can also use the events held by the UB Group like the Derby, Kingfisher Calendar, IPL matches , functions like the Incredible India Party held last year at Cannes and the TV channel NDTV Good Times to increase awareness about Mist. It can make use of the cricket and Bollywood stars already associated with Kingfisher brand to endorse the product and help build a strong connect with its loyal customers. Added to that serving Mist in the Kingfisher Airlines will be a reat way of making future customers try out the drink. PRODUCT INTRODUCTION Mist is a soft drink that is being launched by UB group under Kingfisher brand. It is a citrus flavoured drink and unlike other soft drinks, it is more carbonated and has high levels of caffeine. MARKETING STRATEGY SEGMENTATION Demographic Segmentation 1. AgeA consumer needs and wants change with age. Hence this segmentation is important for this product. On the bas is of age, we can divide the population into the following categories a. 6-25 years b. Teenagers c. 25 years and above 2. Gender This is an important segmentation since both genders behave and respond differently to same situations. Geographic Segmentation This segment primarily refers to the location of the segments. For our product there will be three segments. a. Urban b. Semi-Urban c. Rural PsychographicSegmentation Here different groups are identified on the basis of personality traits, lifestyle or values. The following segments can be formed: a. Excitement, Adventure seeking, Risk lovers b. Health Conscious . Rebellious d. Fashsionable and stylish For our product, we can begin with demographic segmentation. These segments would be further divided using psychographic segmentation. The product is soft drink, but we will not go in for mass marketing and rather target based on psychographic segmentation. The target would also be different from those of already existing soft drink s. TARGETING Evaluating the above segments on the parameters like Measurable, Substantial, Accessible, Differentiable and Actionable, the target segment for MIST would be: Individuals (both genders) in age range 15-29 in urban areas (this is because the promotional activities would be focused on urban areas only). †¢ Based on market research data, we decided to target people who embrace excitement, adventure and fun. Reasons for choosing this target segment are: †¢ Our market research showed us that there were primarily five different target groups in the market. There was considerable presence of other soft drinks in the other target groups. †¢ Also in urban areas there are very few individuals in the age group 15-29 years who have not heard of Kingfisher; hence this would be our target age group. This segment in India is substantial and would be profitable. †¢ Kingfisher already has large distribution networks for selling its other products in urban areas. Hence there would be little cost of adding distribution channels. †¢ It is also easier to involve people from the aforementioned age group in various promotional activities and also they are easily accessible through internet. So it would be easier reaching across to them. POSITIONING Salient Attributes  · Offer from the Kingfisher brand Higher price for perception of premium quality and difference  · Available only in stylised cans  · Invigorating effect due to higher caffeine  · Tingling taste and flavor  · Selective availability in retail outlets, pubs, clubs, discos and other socializing places Values  · Adventure Seeking  · Thrill  · Different from competition  · Aspiration for youngsters to be associated with Kingfisher brand. Competition Mountain Dew As compared to Mountain Dew, we will po sition MIST as an exclusive brand and it will only be available through selective outlets. We are going for value-based offering that is premium in nature due to higher quality and reflects the values of aspiration for Kingfisher. Coke and Pepsi Both Coke and Pepsi are brands that differentiate themselves on the basis on the endorsements eg. Pepsi targets the youth market through endorsements from young celebrities. Price is not a discriminating factor between these two. We shall charge a higher price as compared to Coke and Pepsi and put forth quality as a prime concern while manufacturing MIST. This should help us differentiating from Coke and Pepsi since they have had troubles in the past regarding their quality. Media Influence  · Extensive promotion schemes across different media (using teasers, events and web portals)  · Advertisement frequency  · Brand endorsement Based on the above factors, our positioning of Mist vis-a-vis its main competitor (Mountain Dew) and other similar lime and lemon flavoured drinks (Coca cola was also included as a reference) has been quantitatively depicted in the cobweb diagram below. Some of the attributes are – 1. Ingredients – Mist is an augmented product over other citrus flavoured drinks, being packed with higher carbonation and caffeine. So, we rated this attribute above the other drinks. 2. Awareness – As Mist is a new product to be launched, we cannot gauge its awareness. However, we intend to bring it to the desired level based on our extensive promotional campaign which will be explained in the Marketing Mix. As of now, awareness is being measured based on the current awareness level for Kingfisher. 3. Availability – Unlike the extensive mass distribution and availability of the other drinks, we intend to have a selective distribution for Mist. 4. Refrigeration – This is based on the amount of refrigeration required and the level of service given by the companies by providing refrigerators. As Mist is selectively available, we intend to provide refrigeration facilities at all points of sale. This refrigerators will be small and exclusively for Mist. It will have eye-popping displays labelled with the title Mist and will be painted in its colours. MARKETING MIX | | |PRODUCT | | | | | | | |Functional |Great taste | | | | | | |Ity |Quench Thirst | | | | | | | | | | |Features |†¢ Invigorating effect due to higher caffeine | | | | | | | |†¢ Tingling taste and flavor | | | | | | |Appearanc |Available in Stylised cans | | | | | | |E | | | | | | | PRICING Competitor based pricing The price of a can of Mountain Dew and other soft drinks is Rs. 20. We may c hoose to price it higher than this since we are not going in for mass marketing but rather selecting a specific target segment. Cost Based pricing Cost Based pricing is integral to establish the lowest point of a new product’s price range. By accurately analyzing cost per unit and taking into account a margin that corresponds to the lowest satisfactory return on investment, companies can define a new product’s floor price. If the market cannot support this price, then the company must reconsider if the product is feasible. If we take the major cost components as manufacturing, advertising and distribution we can come to a rough estimate of the variable cost of Mist. This will not include the costs associated with machinery installation, R D of the product and other associated capital expenses. This shall be collected through contribution per can. Using estimates for the major variable cost components we take: i. Advertising Cost per can – Rs. 8 – 10 ii. Manufacturing Cost per can – Rs. 4-5 iii. Administrative Costs and other overheads per can – Rs. 2-3 iv. Distribution Costs – estimated to be Rs. 1 per level Therefore the total cost of producing one can comes out approximately to be Rs. 17-19. Value Based Pricing While some benefits have values that can be readily quantified, others such as brand reputation and premium are more difficult to measure and must be probed using market research. Since we are positioning Mist as a premium brand it should be priced higher than its direct competitor (in this case Mountain Dew) in order for the target group to it as a premium brand. Since a can of a cola costs Rs. 0 then we will price it at Rs. 24 (we are trying simultaneously to take advantage of bundles of five pricing and have the customers perceive it as a premium brand). As shown by the market research, customers are willing to pay more for a product like Mist. Moreover, considering the aspiration value of the produc t and the parent company, we have decided to follow value based pricing. PROMOTION According to the positioning of the Mist, a promotional campaign will be designed to create awareness and pull in the market. AIDA model will be followed for the promotional campaign. The steps taken in each stage will make consumers to â€Å"Think, feel and do†. How to cite New Product Launch, Papers

CSR Activities Over Kraft Acquisition of Cadbury

Question: Discuss anout the CSR Activities Over Kraft Acquisition of Cadbury. Answer: Introduction: In the era of twenty-first centuries, Corporate Social Responsibility, widely known as CSR, has become an important aspect to the businesses of the world. CSR refers to the business practices that assist to implement greener business operations where organizations contribute some portions of their profit to make their business environment and society friendly (Navi 2012). The focus of the essay is to evaluate the different aspects of the CSR activities over the acquisition of Krafts of Cadbury. It is discussed in the easy that whether the CSR policies of Cadbury need to remain the same or not. There is a deep connection between the CSR practices and the long-term growth of the organizations (Pedersen 2015). The 2011 report of the European Commission states that a long-term strategic approach towards CSR is needed in order to maximize the value of the organization as well as the stakeholders of the organization (Humphery-Jenner 2012). The commission published a new European strategy regarding corporate social responsibility on 25 October 2011 in order to avoid the financial crisis. The aim of the strategy was to change the policies and components of CSR in relation to the business organizations (Gth et al. 2014). The aim of the takeover directive of European Commission is to provide the shareholders of the company enough information about the acquisition bid. This information assists the shareholders of the organization in taking effective decisions about exercising the rights to exit the company by selling the shares they possessed. There are some acts under European Commission that state the duties of the offeree board of directors towards the offered board of directors. These acts are Recital 17, Article 3(1)(b), Article 3(1)(c) and Article 9(5). All these articles say that the board of directors of the offeree company has some responsibilities towards the members of the offered company like the board of directors, employees and others (Johnston and Morrow 2015). In order to make the global presence more effective, Kraft acquired Cadbury on 2 February 2010. This deal raises many questions about the CSR activities of Kraft as they did not carry on the effective CSR practices of Cadbury. As per the media report at that time, Cadbury PLC is a company with highly ethical practices. In the year of 2005, Cadbury took over a chocolate manufacturing company, named Green Black in order to produce organic and fair trade labeled products. It was promised by Kraft that the company would maintain the highly ethical CSR practices of Cadbury; but the situation become worse when one of the brands of Cadbury, Green Black was not able to retain CSR activities. All these incidents called for a reform in the United Kingdom takeover rules for acquisitions and takeovers. The panel code committee for takeover considered that the board of directors of the target board needs to take into account all their demands and recommendations at the time of the bid for acqui sition. This has become one of the rules of acquisition (Fournier 2014). There is a relation between the takeovers and the CSR activities. Companies tend to follow the CSR activities of the acquired organization if the share pieces of the acquired company are influenced by those CSR activities. After the financial crisis of 2008, European Commission took the matter of corporate social responsibilities on a serious note as it has the power to increase the financial capacity of the organization by creating goodwill of the organization. The main aim of European Commission takeover directive was to implement the stakeholder friendly strategies. Another most important aim of the commission was to promote the various aspects of corporate social responsibility in takeovers and acquisitions (Servaes and Tamayo 2013). It has been seen that there are some problems in various sections of the provision. One of them is section 3 that states the need to safeguard the companys corporate social responsibilities; but the section does not describe the actions required to safeguard them. Many market failures raise question to the policymakers about the credibility of the current policies that whether they are able to fetch ling-term growth or not. The price of the shares is considered as the managerial efficiency and this may be the reason for dysfunctional market. It is suggested in the new policy that the corporate social responsibility can be used as the solution for the dysfunction in the market. The European Commission ordered a study on the takeover directive to Marcuus Partner, a French Law firm. The issues that were addresses were obligations imposed by the legislation, disclosure of the various facts of bids, corporate social responsibilities and others. At the beginning of the study, Marcuus Partners points out the community control gap that increase the risk of negative externalities. The solution of the problem was given. As per Marcuus Partners, the free market needs to be restricted as to increase the community protection. On the other hand, the management of the organizations needs to act for the interest of the organization as a whole. This provision needs to be included in the new Takeover Directive to protect the practices of corporate social responsibility. The takeover of Cadbury by Kraft helped to revise the policies of UK takeover directive. The tenth edition of the code was published following the acquisition. It was included in the revised takeover directi ve that the directors cannot provide any kind of advice to the directors of the target company (Grahl 2015). From the above discussion, it can be said that there is a real need to revise the policies of European Commission Takeover Directive. The above study says that there are some problems in the current policies as they are not made to encourage the corporate social responsibilities of the acquired organizations. It is pointed out in the new takeover directive that the legislators of organizations need to define some key concepts at the time of acquisition like the opinion of the shareholders at the time of bid, the corporate social responsibilities of the acquired company, disclosure of more information at the time of acquisition and others. References Fournier, J.M., 2014. Reinvigorating the EU Single Market. Grahl, J., 2015. 10 Social Europe and the crisis of the European Union.Asymmetric Crisis in Europe and Possible Futures: Critical Political Economy and Post-Keynesian Perspectives, p.102. Gth, W., Pull, K., Stadler, M. and Zaby, A., 2014. Compulsory Disclosure of Private Information Theoretical and Experimental Results for the Acquiring-a-Company Game. Humphery-Jenner, M., 2012. The impact of the EU takeover directive on takeover performance and empire building.Journal of Corporate Finance,18(2), pp.254-272. Johnston, A. and Morrow, P., 2015. Towards long-termism in corporate governance: the Shareholder Rights Directive and beyond.Long-term investment and the Sustainable Company: a stakeholder perspective, p.19. Navi, S.T., 2012. Corporate social responsibility. Pedersen, E.R.G. ed., 2015.Corporate social responsibility. Sage. Servaes, H. and Tamayo, A., 2013. The impact of corporate social responsibility on firm value: The role of customer awareness.Management Science,59(5), pp.1045-1061.