Vellus Products Case Study

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Product

...Product refers to the fashion items and services that a company will offer its target market. Company history may play a major role here; many firms have a long-standing record in producing specific lines. For instance, when a sportswear company may try to develop products on sports equipment but will not usually decide also to make and sell bras or evening gowns. Product element is fundamental to the fashion design industry. The continual process of new product development and resulting change drives the whole industry and answers the demand from consumers for a constant stream of new ideas and offerings. . Without the constant generation and introduction of new ideas, the concept of fashion may not exist, the seasonal fashion shows and collections may fade out. Axiomatically, if consumers were not constantly engaged in the process of looking for new products to satisfy their emerging needs, the fashion process could not function either. All of the three brands, H&M, DKNY and PRADA are at the maturity stage of the product life cycle. They all have a long brand history. Miuccia Prada designed Prada in 1988. DKNY was founded by Donna Karan in 1989 in New York. H&M was founded in 1947 in Sweden. At this stage, their products have achieved acceptance by most potential buyers. There is a slow down in sales growth in total. These companies may try to increase their advertising and sales promotion to remind and inform the public of their products and events. They can also......

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Product

...Product quality The collection of features and characteristics of a product that contribute to its ability to meet given requirements . To consumers, a high-quality product is one that well satisfies their preferences and expectations. This consideration can include a number of characteristics, some of which contribute little or nothing to the functionality of the product but are significant in providing customer satisfaction. A third view relating to quality is to consider the product itself as a system and to incorporate those characteristics that pertain directly to the operation and functionality of the product.  First is the view of the manufacturer, who is primarily concerned with the design, engineering, and manufacturing processes involved in fabricating the product.  Quality control (QC) is the collection of methods and techniques for ensuring that a product or service is produced and delivered according to given requirements. In general business, product features are all the qualities and characteristics of a product– its size, shape, materials, and its functionalities and capabilities Brand Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers." [1] Packaging is the science, art, and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can......

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Product

...improvement; for example, the active listening skills test I though I was an extremely good listener and it turns out I am not very good. I am happy to have figured this out that way I can work on improving my listening skills. I also liked the personality test a lot because it showed me what type of person I am. I did this test very carefully to get the most accurate results possible and I found out that things that are shocking to me; for example, I am a ISFP type of person this means that I am very interested in fine arts and that I enjoy and like expressions primarily through art. I would have never imagined this. The strength finder test is a test that I personally had a bit of hard time doing since sometimes I found myself very inclined to answer both choices. This test also surprised me in a good way learning that my top five themes are: analytical, belief, individualization, achiever, and competition. I knew I had some of these talents however, I did not know I had them so developed. Lastly the competencies assignment was the one I enjoyed the most since I could see the different type of competencies under the different categories. This helped me understand each competency more and create awareness in myself to further develop ones in certain categories more. By reading this assignment I learned more about myself it made me dig deep within myself and I found out that I have an ability to delegate very efficiently. I have been constantly apply this in my life without......

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Product

...Product The marketing mix starts with product part so in this section of the paper will be discussed what does the consumer want and need from the product, the main characteristics and features of the product and also the best ways to choose branding and packaging. Low-involvement consumers This group of consumers mostly has low income and usually buy cheaper things without extra attention before buying a product. To selling goods for low-involvement consumers there are few main important factors of consumer needs and wants from the product. First of all low involvement consumers don’t spend a lot of time thinking about which windscreen wiper has the best quality and which one has to choose - because of habitual decisions. Their primary priority is price. For that reason “50% discount” or “buy 1 and other get for free” can really attract low-involvement consumers. Other important priority is product convenience. Mostly consumers choose those products which attractively displayed and easy to find. The windscreen wipers should be in the center of the store shelves. For consumers it would be eye-catching product. Also accurate information – consumers place a high value. They have to quick and easy understand what written about the product, how can use it (simple instruction) and why this product is better than others. For that reason on product should not be too much text. Main characteristics of......

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Product

...MA FASHION MANAGEMENT AND FASHION & TEXTILE MARKETING Winchester School of Art   Lecture  Prepara+on  Slides     Interpre+ng  Brand  Iden+ty  Through  Product  Design   2013   Molly  K  Mills   Product   These  slides  should  prepare  you  for  the  lecture   by  enabling  you  to:   •  Define  what  a  product  can  be  both  generally   and  rela+on  to  apparel   •  Use  the  5  levels  of  Customer-­‐Value  Hierarchy   to  analyse  a  products  aMributes  and  benefits   •  List  and  apply  the  different  ways  of  classifying   product   Lecture  Prepara+on  Reading   •  Posner,  H.  (2011).  Marke&ng  Fashion.  London:   Laurence  King     •  Kotler,  P.  &  Keller,  K.  L.  Global  Marke&ng   Management.  (14th  ed.).  Harlow,UK:  Pearson,   Ch.12     What  do  we  define  as  a  product?   “Many  people  think  a  product  is  tangible,   but  a  product  is  anything  that  can  be   offered  to  a  market  to  sa+sfy  a  want  or   need,  including  physical  goods,  services,   experiences,  events,  persons,  places,   proper+es,  organiza+ons,  informa+on, ...

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Product

...Product, Pricing, and Channels Paper Grading Guide Chastity McIntyre, Andrea McIntosh, Anthony Hauter, Cassandra Swaing, Collin Gardner UOP 6/9/2014 Dianne Iobst Today we will be discussing ways to market the “Gon Fishing” app that we created for Apple, Inc. We will cover what the app does, how much it will cost to start production, and ways to market and distribute the app. “Gon Fishing is in the start-up phase and we really want to get this product out to consumers so that they can enjoy a carefree fishing day. A detailed description of the features The “Gon’ Fishing App” has convenient and important features for the users who purchase it with their iPhones. Users can upload photos of fish and the app will scan the details in the photo to identify the fish breed. The app then displays background information on the fish, such as its average weight and length, and the region they typically live in. The “Gon’ Fishing App” also has a 1 gigabyte storage capacity if a fisherman chooses to keep a record of the fish he/she catches for the season. There is a detailed weather forecast feature that will send alerts to the fisherman of any severe storm warnings that threaten the local area. Fishermen will find the “Gon’ Fishing App” favorable because there is a feature that allows them to purchase their annual fishing license directly on the app. There are also significant components that local authorities will appreciate, such as the ability for app users to send......

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Product

...Executive Summary Focusing on the bottle design, Absolut Vodka launched their world famous advertising campaign, using the distinct differences combined with humor to reach out to their clients. Through joint direct sales activities in targeted bars and restaurants (strongly focussed on the “hot spots” within a city) Absolut quickly became renowned as hip brand in this community. Their sales force used high rotation in their sales visits with attractive promotional concepts and incentives, in order to tie in the bartender community into their image statement. Through time Absolut Vodka achieved the status of a lifestyle product, to the extent that it became a brand statement as such, with people ordering “Absolut and Tonic”. Originality combined with consistency in marketing were key elements in the achieved success, leading to repeated two-digit increases in sales, year after year and positioning Absolut as the 5th largest selling spirit brand in the world. In the past few years V&S Absolut Spirits has experienced a strong increase in demand from, among other places, the quickly growing Global Travel Retail market, which, combined, is the second biggest market for ABSOLUT VODKA. Background --: The name "Absolut" was introduced in 1879 by the entrepreneur Lars Olsson Smith. Smith introduced fractional distillation that produces liquor without fusel alcohol in Sweden. In 1917 the Swedish government monopolized the alcohol industry in Sweden. Vodka was then sold...

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Products

...Chapter 7: Products, Services and Branding Strategy What is a product? Anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. - Includes: physical objects, services, events, persons, places, organizations, ideas, or some combination thereof. What is a service? Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything can referred as a Service. Eg: banking industry, tourism industry, Information Technology services etc. Levels of a Product ▪ Core benefit – What the consumer is really buying. ▪ Actual product – Includes the brand name, features, design, packaging, quality level. ▪ Augmented product – Additional services and benefits such as delivery and credit, instructions, installation, warranty, service. Core benefit:- Each level adds more customer value. The most basic level is the CORE BENEFIT which answers the question “What is the buyer really buying?” When designing the products, marketers must first define the core, problem solving benefits or services that consumers seek. People buying a SONY Handycam are buying more than a digital camcorder. They are buying a convenient, high quality way to capture important moments and memories. Actual product:- At this second level, product planners must turn the core benefit into actual product. They need......

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Product

...The term innovation can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Any review particularly on new product development and innovation management will uncover numerous references to 3M. 3M is quite possibly the most innovative company of our times that even CEOs of other visionary companies admire. 3M is best known for its household brands such as Post-it Note, Scotchgard, Scotch tape, and many more. 3M initially failed in its mining business, and eventually stumbled onto most of the successful innovations that we know 3M for, including Post-It, Masking and Scotch tape. There are some key activities and principles that contribute to 3M’s performance which reflected in its approach to innovation namely the variety of management techniques, such as good communications and the setting of clear objectives with a company culture built on more than 90 years of nurturing idea and fostering creativity. Being an “innovating machine”, 3M institutionalized the mechanisms to drive innovation as the "15 percent rule" - technical people spend up to 15 percent of their time on projects of their own choosing or initiative, "25 percent rule" - each division should produce 25 percent of annual sales from new products and services introduced in the previous four years (which later increased to 30 percent). More growth mechanisms were created to stimulate internal entrepreneurship, test new ideas, create......

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Product

...1. The market where business sells goods and services to households and the government is called a. Goods market b. factor market c. Capital market d. money market 2. Real gross domestic product best defined as a. the market value of intermediate goods and services produced in an economy including exports b. all goods and services produced in an economy, stated in prices in a given year and multiplied by quantity c. The market value of all final goods and services produced in an economy stated in the prices of a given year. d. The market value of goods and services produced in an economy stated in current year prices. 3. Underemployment includes a. Who work off the books to avoid paying taxes b. Who are working part time or not using all their skills at a fulltime job c. Who are tired of looking for a job so they quit looking but still want one d. whose skills are not in demand anymore 4. The bureau of economic analysis is responsible for which of the following a. Setting interest rates b. Managing the money supply c. calculating the US gross domestic product d. paying unemployment benefits 5. The Federal Reserve provides which of the following data a. federal funds rate b. stock price of GE c. bond yields of corporation d. debt to GDP of Ireland 6. Consider if the government instituted a 10% income tax......

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Products

...Marketing Mix impending * Product * Price * Place * Promotion Outrageous crave Product life cycle (4 stages) * Intro * Growth * Maturity * Decline thrill Perceptional Map Maserati nuclelyptus New Product Launch Marketing Plan The purpose of this assignment is to create a marketing plan to launch a new product for both the domestic and international marketplace.   Kotler & Keller define the marketing plan as “the central instrument for directing and coordinating the marketing effort” (Kotler & Keller, 2012, p36).   This plan will include the following components: market need, market growth, SWOT analysis, potential competition, product offering and product definition, product identification, justification for choosing this product, and a 10-question survey.   Market Needs According to research, young adults are the most attractive segment among marketing consumers both in terms of its size and its multibillion dollar purchasing power (Awan, M. 2014). The youth culture has been held up as the prototypical example of a global segment. They are reported to be the world biggest adopters of mobile technology, but limited research is available regarding segmentation. Therefore, there is a strong need for more segmentation research in the cell phone market, especially among the young adults since this age group is driving the market to new directions and uses. Market Growth According to the Cellular Telephone Industries......

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Product

...1. Service have more diverse quality attributes than products.Service –result from wide variation created by high customer involvement. For product, the dimension of conformance is more easily to measure on it than in service it is often difficult for service to conform to numeric specifications. 2a) Theory is coherent group of general propositions used as principles of explanation for a class of phenomena. Theory in business organization: * For instance, what are the psychological dynamics that could cause quality improvement to increase worker morale?-worker empowerment lifts worker self esteem by stressing increased decision making. b) Deming’s contribution to QM was: 1. Create a consistency of purpose toward improvement of product and service with the aim to become competitive, stay in business and provide jobs. 2. Adopt a new philosophy- 3. Cease dependence on mass inspections to improve quality. 4. End the practice of awarding business on the basis of price tag alone. 5. Improve constantly and forever the system of production and service, to improve quality and productivity, and thus constantly decrease cost. 6. Intstitute training on people job. 7. Improve leadership. 8. Drive out fear so that everyone may work effectively for the company. 9. Break down barriers between departments. 10. Eliminate slogans, exhortations and targets for the workforce that asks for zero defects and new levels of productivity. 11. Eliminate work...

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Vellus Products Answer

...business valuable time and money. Finally, learn the local cultures. 2. I think it depends on the demands and quality of selling products. The reason of that Vellus’s original entry into exporting was both reactive and serendipitous is she could improve pet shampoo and understood what dog owners desire for. Therefore, its product is competitive, resulting to getting calls from people around the world for export business. To make small firms more proactive with regard to exporting, not only are the products of good quality and competitive, the owners need to be proactive. For example, they should be active to recommend their products to users in shows and exhibitions. 3. She has some advice for others who want to down the same road. First, build good relationships. Secondly, know whom you are dealing with. Third, learn the local culture. Finally, enjoy the ride 4 She got better understanding of foreign markets, export potential and financing options from U.S. Department of Commerce’s Commercial Service offices in Columbus. As business has grown, she has gone from ordering country profiles to requesting customized exporting and financing strategies tailored to maximize export potential. I think it represents good use of taxpayer money. First, she actually succeeds in her business and earns a large amount of profits. Secondly, her products is beneficial to the general public....

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Acct 304 Final Exam 100% Correct Answers Purchase Here Http: //Devrycourse.Com/Acct-304-Final-Exam-100-Correct-Answers Product Description Acct 304 Final Exam 100% Correct Answers

...ACCT 304 Final Exam 100% Correct Answers Purchase here http://devrycourse.com/acct-304-final-exam-100-correct-answers Product Description CTIVITY BASED COSTING 1. If a predetermined overhead rate is not employed and the volume of production is increased over the level planned, the cost per unit would be expected to A. Decrease for fixed costs and remain unchanged for variable costs. B. Remain unchanged for fixed costs and increase for variable costs. C. Decrease for fixed costs and increase for variable costs. D. Increase for fixed costs and increase for variable costs. 1. If fixed costs decrease while variable cost per unit remains constant, the contribution margin will be A. Unchanged C. Higher B. Lower D. Indeterminate 1. The high-low method is criticized because it A. is not a graphical method. B. is a mathematical method. C. ignores much of the available data by concentrating on only the extreme points. D. does not provide reasonable estimates. 1. [i]. The controller of Jema Company has requested a quick estimate of the manufacturing supplies that it needs for the month of July when the expected production are 470,000 units. Below are the actual data from the prior three months of operations. Production in units Manufacturing supplies March 450,000 P723,060 April 540,000 853,560 May...

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Products

...Product and service: Sweety Dessert House provides a lot of delicious, healthy and high quality desserts for the customers to enjoy them. The desserts that are available at Sweety Dessert House are cakes, cookies, donuts, puddings, snowflakes and chocolate fountain. Cakes: There are many different flavors of cake are sold in Sweety Dessert House such as apple cake, squash cake, chocolate cake, butter cake, cheese cake, fruit cake, ice-cream cake and others. All the cakes that are sold in Sweety Dessert House are low in sugar, free of artificial coloring, flavoring and preservatives. Over consume of artificial coloring, flavoring and preservatives will actually affect the health of human being badly. Therefore, we are using the pure and healthy ingredients and materials to produce our cakes in order to provide the most original tastes of the cakes and provide a healthy recipe for our customers. We always make sure that our cakes are healthy to be served for our customers. For example, apple cake, we are using the fresh sliced, sunflower oil, whole wheat flour, cinnamon and other pure ingredient to produce it. Chocolate cake Ice cream cake Fruit cake Apple cake Furthermore, we have two types of serving size of cakes provided for the customers. The different serving sizes of cakes are 500 gram and 1 kilogram. We provide the different weight of cakes for the customers so that they can purchase an appropriate and desired cake since the size of the cake that purchased......

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Unformatted text preview: Chapter 13 - Exporting, Importing, and Countertrade Exporting, Importing, and Countertrade Chapter Outline OPENING CASE: Vellus Products INTRODUCTION THE PROMISE AND PITFALLS OF EXPORTING Management Focus: FCX Systems IMPROVING EXPORT PERFORMANCE An International Comparison Information Sources Management Focus: Exporting with a Little Government Help Utilizing Export Management Companies Export Strategy Management Focus: Export Strategy at 3M Management Focus: Red Spot Paint and Varnish EXPORT AND IMPORT FINANCING Lack of Trust Letter of Credit Draft Bill of Lading A Typical International Trade Transaction EXPORT ASSISTANCE Export-Import Bank Export Credit Insurance COUNTERTRADE The Incidence of Countertrade Types of Countertrade The Pros and Cons of Countertrade SUMMARY 13-1 Chapter 13 - Exporting, Importing, and Countertrade CRITICAL THINKING AND DISCUSSION QUESTIONS CLOSING CASE: MD International Learning Objectives 1. Explain the promises and risks associated with exporting. 2. Identify the steps managers can take to improve their firm’s export performance. 3. Identify information sources and government programs that exist to support exporters. 4. Understand the basic steps involved in financing exporting. 5. Describe how countertrade can be used to facilitate exporting. Chapter Summary This chapter focuses on the “nuts and bolts” of exporting and importing. The promise and pitfalls of exporting are discussed, along with a discussion of the role of export management companies in the internationalization process. The chapter also provides a nice discussion of export financing. In this section, the author discusses the financial devices that have evolved to facilitate exporting including: the letter of credit, the draft (or bill of exchange), and the bill of lading. The section ends by providing an example of a typical international trade transaction. This example illustrates the complex nature of international trade transactions. Finally, the chapter explores countertrade, its growth and the pros and cons of this type of transaction. Opening Case: Vellus Products Summary The opening case explores the international expansion of Vellus Products, a small company that produces personal care products for dogs. Vellus Products initially began exporting when a Taiwanese business placed an order for its dog shampoo. Since then Vellus Products has expanded its export business and today, international sales account for about half its total sales. Vellus Products now sells in 28 countries around the world. Discussion of the case can revolve around the following questions: QUESTION 1: Why did Vellus Products choose Taiwan for its first export sales? How important do you think the assistance provided by the Department of Commerce has been for Vellus Products’ future export sales?...
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