Louis Vuitton in Japan

Louis Vuitton in Japan Abstract Japan is a lucrative market for global luxury brands. Many companies have realized this fact and have concentrated most of their operations in this country. Louis Vuitton is no exception. It succeeded in this market. This paper shows that the unique demographics of the Asian country and the company’s aggressive marketing campaigns have contributed to its Japanese success.Advertising We will write a custom essay sample on Louis Vuitton in Japan specifically for you for only $16.05 $11/page Learn More Evidences from this paper also show that poor economic conditions and changing customer preferences, in Japan, threaten the French-based company’s profitability. Nonetheless, there are many opportunities for increasing its sales growth. This paper suggests that the company should open new stores in mid-sized towns to increase its brand presence in the market. Similarly, it suggests the need to improve the popularity of Louis Vuitton brands by undertaking more local marketing campaigns. Overall, this paper shows that although Japan accounts for most of Louis Vuitton’s profits, the company could increase its dominance in this market by adopting new marketing strategies. Introduction Louis Vuitton is a global luxury brand that has operated in the Japanese market for more than four decades (Ivey, 2008). As a case study, this paper explores how the French-based company started its operations in the Asian nation and why it has achieved tremendous success in this market. Since Louis Vuitton is a successful global entity, this paper also investigates whether global economic conditions affect its operations. Similarly, it highlights how the company can overcome some of these challenges and exploit the demographics of the Japanese market to improve its market success. These analyses give a comprehensive understanding of Louis Vuitton’s operations in Japan. Why Louis Vuitton Succeeded in the Japanese Market Japan i s an important market for Louis Vuitton because it accounts for almost 50% of the company’s profits (Ivey, 2008). Aggressive marketing campaigns have boosted the brand’s profile in the country’s fashion industry. The success of the Omotesando marketing campaign, in Japan, attests to this fact (Ivey, 2008). Such campaigns have provided a platform for introducing extravagant stores in several parts of the Asian country (including successful outlets in Ginza and Roppongi) (Ivey, 2008). Besides its aggressive advertising strategy, Louis Vuitton’s success, in Japan, also stems from the company’s pricing strategy.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the past, the company adopted a premium pricing strategy for its branded products, but uncertain economic conditions have made it untenable for the company to continue doing so. Since then, i t has changed its strategy and now adopts a flexible pricing plan that portrays the Louis Vuitton brand as affordable. This strategy largely boosted the brand’s sales. Opportunities and Challenges for Louis Vuitton in Japan Challenges: Poor economic conditions and changing customer preferences present the most notable challenges for Louis Vuitton’s operations in the Japanese market. These challenges affect the company’s sales and make it difficult for the brand to understand the nature of future fashion trends. Opportunities: Undoubtedly, there is a notable market presence of the Louis Vuitton brand in Japan. However, there is a lot of potential for the company to expand its operations in mid-sized cities and other locations where the brand does not have a notable market presence. This move would popularize the brand (further) and increase its revenue streams. Specifics of the Japanese Fashion Luxury Market The Japanese fashion market has accepted Louis Vuitton because of its unique social and economic dynamics that differentiate it from western markets. For example, besides being fashion-conscious people, the Japanese society buys luxury brands as a status symbol. Moreover, a demographic analysis of the market shows a large middle-income population that affords luxury brands, such as Louis Vuitton. Furthermore, there is a huge population of middle-aged women who prefer to update their fashion, often (Ivey, 2008). Lastly, the Japanese culture requires people to dress according to their social status. People who have a high income prefer to have fashionable products like Louis Vuitton. This is why many global luxury brands depend on Japan to support their global operations (Ivey, 2008). Original Entry Strategy of Louis Vuitton in Japan and the Strategies it adopted to strengthen its Market Presence Louis Vuitton’s entry into the Japanese market started in 1977 through a direct market entry strategy. Albeit controversial, this strateg y allowed the company to acquire two stores. The stores were departmental and stocked a few brands. They accounted for more than $10 million (in annual profits) after selling directly exported fashion products from France (Ivey, 2008). The success of the stores paved the way for expanding the company’s network of outlets. Statistics, from 2007, show that Louis Vuitton owns more than 54 stores in Japan (Ivey, 2008). However, as a group, the company manages about 250 stores in the same market (Ivey, 2008). In the last decade, the brand has changed its operational strategy by operating some stores as franchises. Most of them are in Nagoya, Osaka, and Tokyo.Advertising We will write a custom essay sample on Louis Vuitton in Japan specifically for you for only $16.05 $11/page Learn More Will the Global Financial Crisis Affect Louis Vuitton and how will the Company Overcome it? Louis Vuitton is vulnerable to the intrigues of the global economy. Its vulnera bility stems from its reliance on tourist markets and disposable income fluctuations. Therefore, when the global economy suffers from terrorism threats and poor economic outcomes, the company suffers declined sales. Louis Vuitton learned this lesson in Japan after the 2001 terrorist attack in the US and the 2007/2008 economic crisis. It suffered decreased sales from low tourist numbers and a growing hesitation by shoppers to spend their money on expensive luxury items. To overcome such challenges, the company needs to localize its marketing strategy and grow its domestic markets (Melicher Norton, 2014). This strategy would make most of its global stores independent. For example, instead of relying on tourist markets to support the Japanese stores, the company should popularize its products to the Japanese people and make its stores independent. Therefore, when, an economic crisis happens in one part of the world, other stores (that do not operate in the affected regions) are not af fected (Pearce Robinson, 2013). Conclusion Louis Vuitton’s Japanese success mirrors the success of other global luxury brands in the same market. This paper shows that the unique demographics of the Asian country largely contribute to a growing demand for Louis Vuitton products in Japan. Poor economic conditions and changing customer preferences emerge as the main challenges of the French-based company. However, there are many opportunities for increasing its sales numbers. Consequently, this paper suggests that the company should open new stores in mid-sized towns to increase its brand presence in Japan. Focusing on improving Louis Vuitton’s popularity in the country would also reduce the company’s reliance on overseas markets. Overall, although Japan accounts for most of Louis Vuitton’s profit, the company could benefit from adopting new strategies to improve its dominance in this market. References Ivey, R. (2008). Louis Vuitton in Japan. Retrieved fr om https://www.asiapacific.ca/Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Melicher, R. W., Norton, E. A. (2014). Introduction to Finance: Markets, Investments,  and Financial Management. Hoboken, NJ: John Wiley. Pearce, J., Robinson, R. (2013). Strategic Management: Planning for Domestic   Global Competition. Boston, MA: McGraw Hill.

Definition and Examples of Business Jargon in English

Definition and Examples of Business Jargon in English Business jargon is the specialized language used by members of corporations and bureaucracies. Also known as corporate jargon, business-speak, and bureaucratese. Business jargon typically includes buzzwords, vogue words, and euphemisms. Contrast with plain English. Examples and Observations Hes successful in interfacing with clients we already have, but as for new clients, its low-hanging fruit. He takes a high-altitude view, but he doesnt drill down to that level of granularity where we might actionize new opportunities.Clark winced. I remember that one. I think I may have had a minor stroke in the office when he said that.(Emily St. John Mandel, Station Eleven. Alfred A. Knopf, 2014) The Poisonous Spell of Business Jargon The next time you feel the need to reach out, touch base, shift a paradigm, leverage a best practice or join a tiger team, by all means do it. Just don’t say you’re doing it.If you have to ask why, chances are you’ve fallen under the poisonous spell of business jargon. No longer solely the province of consultants, investors and business-school types, this annoying gobbledygook has mesmerized the rank and file around the globe.Jargon masks real meaning, says Jennifer Chatman, management professor at the University of California-Berkeley’s Haas School of Business. People use it as a substitute for thinking hard and clearly about their goals and the direction that they want to give others.(Max Mallet, Brett Nelson and Chris Steiner, The Most Annoying, Pretentious And Useless Business Jargon. Forbes, January 26, 2012) Laser-Focused At companies ranging from children’s book publishers to organic-food purveyors, CEOs are increasingly training powerful beams of light on their targets. The phrase laser-focused appeared in more than 250 transcripts of earnings calls and investor events this year, according to data compiled by Bloomberg, on pace to eclipse the 287 in all of 2012. It’s business jargon, says L.J. Rittenhouse, CEO of Rittenhouse Rankings, who consults with executives on communication and strategy. What would a more candid disclosure be? We are focused. What does a laser have to do with it? . . .David Larcker, a professor at the Stanford Graduate School of Business who has studied deception on investor conference calls, says that when executives start using a lot of jargon, it makes you wonder about the believability. Rittenhouse, who analyzes shareholder letters for an annual report on CEO candor and reviews about 100 conference-call transcripts each year, has found that companies that use fact-deficient, obfuscating generalities have worse share performance than more candid companies.(Noah Buhayar, The CEOs Favorite Clichà ©. Bloomberg Businessweek, September 23-29, 2013) Business-Speak In an infamous December 2012 press release, Citigroup announced that it would begin a series of repositioning actions that will further reduce expenses and improve efficiency, resulting in streamlined operations and an optimized consumer footprint across geographies. Translation: 11,000 people would be repositioned out the door.Business-speak, with its heartless euphemisms and empty stock phrases, is the jargon that everyone loves to hate. . . .For several years, Mark Liberman, a linguist at the University of Pennsylvania, has been keeping an eye on the words and phrases that are condemned as business-speak, and he has noticed that as much as mission statements and deliverables, what gets under people’s skin are expressions like impactful, at the end of the day, and low-hanging fruit. As he has investigated these expressions, he noted in a post last month on the blog Language Log, he has found that they are as common in sports, politics, social science, and other spheres as th ey are in business.(Joshua J. Friedman, Jargon: It’s Not the Business World’s Fault! The Boston Globe, September 15, 2013)Dharmeshs culture code incorporates elements of HubSpeak. For example, it instructs that when someone quits or gets fired, the event will be referred to as graduation. This really happens, over and over again. In my first month at HubSpot Ive witnessed several graduations, just in the marketing department. Well get an email from Cranium saying, Team, Just letting you know that Derek has graduated from HubSpot, and were excited to see how he uses his superpowers in his next big adventure!(Dan Lyons, Disrupted: My Misadventure in the Start-Up Bubble. Hachette, 2016) Business-Speak in Higher Education As universities are beaten into the shapes dictated by business, so language is suborned to its ends. We have all heard the robotic idiom of management, as if a button had activated a digitally generated voice. Like Newspeak in Nineteen Eighty-Four, business-speak is an instance of magical naming, superimposing the imagery of the market on the idea of a university–through ‘targets, ‘benchmarks, time-charts, league tables, ‘vision statements, ‘content providers. We may laugh or groan, depending on the state of our mental health at the thickets of TLAs–three-letter acronyms, in the coinage of the writer Richard Hamblyn–that accumulate like dental plaque. . . .The code conceals aggression: actions are undertaken in its name and justified by its rules; it pushes responsibility from persons to systems. It pushes individuals to one side and replaces them with columns, boxes, numbers, rubrics, often meaningless tautologies (a form will ask first for ‘aims, and then for ‘objectives’).(Marina Warner, Learning My Lesson. London Review of Books, March 19, 2015) The Epic Poetry of Modern Business Jargon is an invaluable tool in massaging meaning for marketing purposes. Investment is a particularly fertile field. Promoters may describe a start-up with no customers as pre-revenue, optimistically implying that sales are inevitable. Hoped-for turnover will be projected in a business plan, a document used for raising finance and scrupulously ignored thenceforth.Terminology that deflects criticism while bestowing spurious professionalism is essential to the manager. Hence the phrase Im outside the loop on that excuses knuckle-dragging cluelessness. Im afraid I dont have the bandwidth is a polite way of saying: You arent important enough for me to help you. And It is my understanding that . . . allows the speaker to assert vague suspicions as solid facts...Jargon is the epic poetry of modern business. It can turn a bunch of windbags in a meeting room into a quick wins taskforce. I once asked a handyman toiling in an office doorway whether he was installing a wheelchair ramp. No, he said solemnly, its a diversity access feature.(Jonathan Guthrie, Three Cheers for the Epic Poetry of Jargon. Financial Times, Dec. 13, 2007) Financial Jargon: Reversification The images and metaphors keep doing headstands. To bail out is to slop water over the side of a boat. That verb has been reversified so that it means an injection of public money into a failing institution; taking something dangerous out has turned into putting something vital in. Credit has been reversified: it means debt. Inflation means money being worth less. Synergy means sacking people. Risk means precise mathematical assessment of probability. Noncore assets means garbage. These are all examples of how the process of innovation, experimentation, and progress in the techniques of finance has been brought to bear on language, so that words no longer mean what they once did. It is not a process intended to deceive, but . . . it confines knowledge to a priesthood- the priesthood of people who can speak money. (John Lanchester, Money Talks. The New Yorker, August 4, 2014) Greenspans Fed-Jargon A special area of financial jargon is Greenspeak, the terms and phrases of Federal Reserve Board Chairman [1987-2006], Alan Greenspan. For decades a small group of economists known as Fed-watchers, pored over the statements made by the Federal Reserve, looking for indications of changes in Federal Reserve policy. Today, almost every investor and business person in the U.S. listens to the latest Fed pronouncements. From his 1999 description of the technology stock market as irrational exuberance, to his considerable period, soft patch, and short-lived descriptions of the economy and monetary policy in 2003-2004, the words of Alan Greenspan [became] common in American business jargon. (W. Davis Folsom, Understanding American Business Jargon: A Dictionary, 2nd ed. Greenwood, 2005)

Eco-tourism in New Zealand Research Paper Example | Topics and Well Written Essays - 1750 words

Eco-tourism in New Zealand - Research Paper Example This requires communicating the restrictions without discouraging the audience. This enhances the importance of the right marketing communications mix which includes using technology to convey the customer feedback and collaborating with the government agencies. The industry is thriving and there is scope for new entrants to an emphasis on personal selling would help Dolphin Explorers to expand its reach. The nature of tourism has changed in recent times as new markets and new kinds of tourism have emerged (Herbig & O'Hara, 1997). Ecotourism has emerged among these as the fastest growing segment within the travel and tourism industry. Ecotourism involves travel to experience natural environments or settings. The demand for eco-tourism increased as customers shifted from mass tourism enriching and individualistic experiences (Diamintis & Ladkin, 1999). It has been defined as "responsible travel which conserves the natural environment and sustains the wellbeing of local people" (Herbig & O'Hara, 1997). It is a segment of the travel that appeals to the environmentally conscious and has a low impact on the surrounding area while contributing to the local economy. Nevertheless, the reality is quite different and New Zealand has particularly experienced social, cultural and economic impact. The inbound ecotourism market in New Zealand has experienced overall growth and ecotourism in NZ focuses on marine environments, particularly marine mammals, botanical, geological and ornithological resources (Higham & Carr, 2003). Wildlife tourism too also forms a significant element in ecotourism and involves seabirds, marine mammals and native avifauna. The growth and proliferation of eco tourism operations has created difficulties for this sector in NZ. Ecotourism can deprive the local people of the resources that they have been using (Herbig & O'Hara, 1997). Besides, once the local economies become dependent on eco-tourism, any downturn in tourism impacts their stability. Ecotourism can result in the commercialization of the culture. On the social side ecotourism, with higher disposable incomes in the hands of the local people can give rise to alcohol-related disturbances. Thus, for eco-tourism companies promoting tourism and sustaining the company poses a great challenge. Â  

The Public Debt Essay Example | Topics and Well Written Essays - 500 words

The Public Debt - Essay Example As the paper declares a report issued in April, 2005, by the National Center for Children in Poverty, cites 40 percent of America’s children live in families with poverty level incomes. The Bush Administration, the report says, and Congress has called for dramatic cuts in a program that is already struggling to meet the needs of the low-income families currently on the program. The program, which received increased funding during the 1990s to facilitate the Welfare to Work goals, continued to turn away thousands of needy due to limited resources. Medicaid, a federally sponsored program that works in conjunction with state resources to provide healthcare to needy families, would also be dramatically cut as part of the existing proposals. This essay stresses that congressmen and women enjoy a great many perks at the public expense. According to the National Taxpayer’s Union Foundation, â€Å"Members elected in 1984 and thereafter pay 1.3 percent towards the pension and 6.2 percent to Social Security. This only compensates for about 1/5 of the typical lifetime benefit. We cover the rest as taxpayers.† Why should our lawmakers be held to a different standard than the people struggling to support them? The answer is, they should not, and they should contribute to the retirement and Social Security systems like any other worker in America. When we have lawmakers who routinely look to the elderly, impoverished and children to pay for the Public Debt, perhaps this time around, our cuts should begin with them.

The Future of World Population :: Papers

The Present and Future The growth of the world's population is a problem that many people see as being addressed at some point in the future. While we live in a country that is reaping the benefits of a superpower, most of the United States is disconnected from the problems of population growth. In this paper, I intend to address three major issues. How long will we be able to support our planets food needs? How can we deal with population growth in the present day? And How come certain areas tend to have larger population growth than other areas? But first in this paper, I will see how the theories of sociologists and demographers fit into the Earth's population problem. THEORIES MARX 1818-1883 Karl Marx viewed a capitalist society as an economic system that was bound to fail. In Marx's opinion this eminent failure was based in the design of the system. According to Marx, In the capitalist economy there are two major groups; the bourgeoisie and the proletariat. The bourgeoisie are t hose who own the means of production, have the power. The proletariat are those that work for the bourgeoisie and are at their mercy. At the economy develops, the gap between the bourgeoisie and the proletariat grows wider and eventually all the capital is controlled by a small percentage of the population and the proletariat is forced into poverty. To someone with little or no sociological background, the above paragraph has nothing to do with population as a social problem. But if you fit population into Marx's description of the capitalist system, it is more relevant than at first glance. The best way to make this point clear is to provide two hypothetical situations. Family X is a middle class family that is doing well financially and they tend to have more children than if they are not making so much money. But as the bourgeoisie gains more and more control, families like X have their income driven down and ultimately have fewer children. Families must have enough money, food, etc. to survive. If they don't have these goods and they can't control their wages, they must control they must control an aspect of their lives that would allow them to survive, whether or not to have children. Family Z is an extremely wealthy family that more or less monopolizes an aspect of their economy. As the economy progresses, family Z is able to drive down the wages of their workers thereby increasing their profit.

Student Web Scavenger Hunt

Log on to the University of Phoenix eCampus web page located at: https://ecampus. phoenix. edu/portal/portal/public/login. aspx. Explore the resources available on the site and use them to answer the following questions. WRITING RESOURCES 1. Which three reviewing services are available to students through the Center for Writing Excellence? The plagiarism checker, the tutor review, and write point corrections. 2. Which resource in the Tutorials & Guides section of the Center for Writing Excellence offers tips about how to format a paper? The APA information section publication manual. 3. What are the University of Phoenix’s suggested resources for academic writing formatting and grammar guides? (Hint: This information is located in the Center for Writing Excellence) Plagiarism checker, tutor review, and write. UNIVERSITY LIBRARY 1. What are the three major article databases found in the University Library? EBSCO host, Thompson Gale Power Search, and Pro Quest. 2. Name three specialized article databases in the University Library. Business Insights, Economist. om, and Journal of Leadership Studies. 3. What link would you click to ask a question of the University of Phoenix Librarian? Ask a Librarian. COURSE INFORMATION 1. From your student Web site, how do you access your reading assignments for this course? Materials tab. 2. What chapter from the text Keys to College Studying is part of the reading assignment for Week Four of this course? Chapter 8 3. Where on your student Web site will you be able to find you r schedule and course grades for all courses completed to date? Under program tab and then Schedule and Grades. LEARNING TEAMS 1. What six documents are contained in the â€Å"Toolkit Essentials† section of the Learning Team Toolkit? The learning team handbook, the online campus learning team handbook, guide to completing the University of Phoenix learning team charter, the learning team log, team evaluation, and team charter. 2. According to the Learning Team Toolkit section, â€Å"Why Learning Teams? † what are the four essential functions filled by Learning Teams that are especially beneficial to working adult learners? To create a team learning environment that students can share their knowledge from their personal environments and experiences, create the best possible quality with shared assignments by getting the most out of the group, offer support while providing help with life other demands, and help students obtain and use knowledge learn. STUDENT SERVICES 1. What is the phone number for University of Phoenix technical support? (Hint: Use the â€Å"Help† button in the top right corner of the page. ) 1. 877. 832. 4867 2. Where can you find information about who to contact for questions regarding student disabilities? The University Disability Services section. 3. What three National Testing Programs does the University of Phoenix award credit for? College Level Examination Program, Defense Activities for Non-Traditional Education Support, and the Excelsior College Examinations. 4. Name one form of misconduct in the Student Code of Conduct. (Hint: The Student Code of Conduct is located in the Academic Catalog). Using or being under the influence of alcohol or illegal drugs while in class, at campus-sanctioned events, or when meeting with campus personnel.

The Effect of Advertisements and Commericals on Television

Advertisements and commercials have been an integral part of American history for many years. Since the invention of the newspaper, people in the United States and lots of other countries have been heavily influenced by advertisements. These ingenious tools are used to make people desire to buy a product or contribute to the success of a product in some way. In more modern history advertisements have been implemented into television and other mediums of mass media. Because so many people watch television everyday it is the perfect tool to advertise with. Also, the advertisements must be interesting and have enough appeal to actually captivate the audience’s interest. The car insurance company Geico understands this concept very well. This†¦show more content†¦Old MacDonald is a classic nursery rhyme that every child hears at some point. This means that anyone who sees the commercial will recognize this character and connect better with the advertisement as a whole. Th e primary means of appeal for this commercial and all Geico commercials over the past few years is humor. This particular commercial makes fun of old MacDonald’s spelling ability. In the nursery rhyme, an animal name is said followed by the sounds e-i-e-i-o. The commercial flips this so that this is the way old MacDonald spells. This is further exaggerated by the fact he is put into a spelling bee setting. It may be a shock that Geico is actually owned by a much larger company. Berkshire Hathaway Incorporated is the company that owns Geico. In fact, it also owns several other companies such as Dairy Queen, Fruit of the Loom, Lubrizol and Helzberg Diamonds to name a few. A man by the name of Warren Buffett the CEO of Berkshire Hathaway helped to gain better advertisements for Geico by going through different advertising agencies. The advertising agency that Geico has had the most success with by far is the Martin Agency. This agency has helped to develop Geico’s most famous advertisement campaigns. The Geico Gecko was actually brought about because of the Martin Agency. It was very common for people to mispronounce Geico as â€Å"gecko† this sparked an ingenious idea. The company would embrace this and make a gecko the officialShow MoreRelatedBrainwashing Youth : How Advertising Influences Children On Gender Images1496 Words   |  6 PagesYouth: How Advertising Influence s Children on Gender Images For advertising companies, the topic of advertising to children is one that is very controversial and could lead to a lot of debate on whether it is even ethical to do so. None the less advertisements continue to be aired and targeted towards a particularly vulnerable group: children. At a young age it is a critical time for children. 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A weakening in the economy can lead to a reassessment of growth rates across the board, though the effect on earnings are likely to be largest at cyclical firms. Similarly, an increase in interest rates will affect all investments, though to varying degrees. When analysts change their valuations, they will undoubtedly be asked to justify them. In someRead MoreProject Managment Case Studies214937 Words   |  860 Pagesdifferent colors. Commercial buyers seemed more interested in the cost than the average consumer, who viewed the faucet as an object of art, irrespective of price. Clark Faucet Company did not spend a great deal of money advertising on the radio or on television. Some money was allocated for ads in professional journals. Most of Clark s advertising and marketing funds were allocated to the two semiannual home and garden trade shows and the annual builders trade show. One large builder could purchase more