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What strategies discussed in chapter 2, as well as in the lecture with Lila Jaber, should Alison consider before she quits working for her dad at the umbrella store, and how should she quit to leave on good terms?
Before quitting her job at her dad’s umbrella store and starting her business, Alison should consider various factors that will affect her future. These factors include but are not limited to personal, financial, and professional sacrifices, risks that come with quitting the job, market competition, and customer base for the sector that Alison would like to join. Alison should consider how much she will lose by leaving her job at her dad’s store and evaluate if it is worth it. Professional sacrifice means that Alison will cut short her experience and progress at her dad’s store and start over in her business ventures. On the other hand, financial sacrifices mean that Alison will have to forego the pay she is used to getting as an employee at her dad’s store. If she is starting her business, she will be required to accept low payments over a long period and long working hours for a better, stable, and more productive potential payoff in the future. Alison should also be aware of how the intended market works and the levels of competition, then evaluate her willingness to take high risks for high payoffs altogether.
To quit and leave in good terms means that Alison should maintain her dignity by using the proper procedures rather than disrespect as it will affect her reputation altogether. Before drafting a resignation letter, Alison should first inform her dad before quitting the job about her intentions. She should be honest but respectful about her reasons for quitting the job. In addition, Alison should be prepared for a counter-offer from the dad and respond appropriately to it. It is also essential that Alison pulls through to the last day of her notice as agreed upon earlier with her boss. Finally, Alison must not start her business while still working in the Umbrella store, especially without notifying her boss.
Discuss at least four types of business entities and explain the pros and cons of these entities as they relate to Alison’s music store.
There are different types of business entities, and they determine the structure of an organization and the level of taxing. The first business entity type is the sole proprietorship. The sole proprietorship is the simplest form of a business entity because it is solely owned and managed by one person or a married couple in some cases. In this case, Alison starting her music store without involving other parties qualifies her as a sole proprietor. There is no need to register with the state in a sole proprietorship. However, Alison should secure a business license and permits. This business has its pros and cons. Some of the advantages she will enjoy as a sole proprietor are that it is easy to start, tax filing is easy, she can deduct most business losses on personal tax returns. In addition, no paperwork or corporate formalities like minutes and buy laws are required in a sole proprietorship. The disadvantages of a sole proprietorship include that the owner is personally responsible for all the business’s debts and liabilities. It is difficult to separate personal life from business because the owner does everything. Finally, it’s harder for a sole proprietorship to build business credit without a registered business entity.
The second type of business entity is the general partnership. In general partnerships, the business is owned by two or more people, and all partners actively manage the business and share in the profits and losses. Alison partnering with Vanya or her dad would automatically qualify her business as a general partnership. The advantage Alison is likely to experience for choosing this entity is that it is easy to start as no registration with the state is required; she won’t absorb all the debts and losses on her own because she has business partners, and finally, owners, including Alison can deduct losses from their tax returns. The disadvantages include it is difficult to land more loans, secure big investors, and build business credit without a registered business entity. Disputes among partners can arise and hinder business operations. In some states, partners are held accountable for the negligence of one partner.
The third business entity is the limited liability company LLC. This business structure would fit Alison perfectly because it has the qualities of a partnership and has legal protection of corporations. LLC offers limited liability protection has fewer ongoing requirements and paperwork. The LLC takes positive features from each of the other business entity types. The advantage of an LLC is that owners don’t have personal liability for the business’s debts or liabilities. One can also choose to be taxed as a corporation or a partnership. The disadvantage of an LLC is that it is costly to start a limited liability company because it requires the involved parties to register with the state.
The fourth business structure is the C corporation. This business structure is an independent legal structure besides its owners. Alison can adopt the C corporation because she will still oversee all the activities despite the shareholders like his dad and other investors controlling the corporation. Alison will enjoy the following advantages; she will pay lower self-employment taxes, she will have the ability to offer stock options, which can help you raise funds in the future. This business structure will also exempt her from business liability and debt. The disadvantage of the C corporation is that they are more expensive to start than partnerships and sole proprietorship. They are double-taxed, meaning it pays tax on the corporate tax return, and then shareholders pay taxes on dividends on their tax returns. This business structure has a lot of corporate formalities and paperwork.
Discuss the advantages and disadvantages to Alison regarding the following four scenarios
If Alison decides to use her $10,000, accept Vanya’s $25,000 investment into her business and her father’s $15000 loan to fund her business, she is likely to create a pool of funds that will establish and sustain her business in the long run. Alison will, however, experience prolonged decision-making processes because she will have to involve Vanya and her dad.
If Alison uses her own $10,000 and takes $40,000 from an angel investor, she attracts additional financing to her business. Working with an angel investor will also mean that she gets to make all the decisions regarding the company and is not required to pay interest on the money invested. They also add credibility to the business. The downside of working with an angel investor is that they do not participate actively in business operations, thus making it difficult to understand each other, the entity’s challenges and progress, and general performance.
If Alison uses her $10,000 and takes a $40,000 loan from a local bank, she will increase the finances required for the business. The bank will also offer free advice and money allocation strategies to help the business avoid risks and thrive with time. The bank also gives the business security and enhances its credibility. One disadvantage of involving the bank is they have high loan interest rates. Alison will spend a lot of money as interest to the bank while repaying her loan. The time frame for loan repayment is also fixed, denying room for future adjustment if funds are scarce.
If Alison decides to ask a venture capital firm to invest $50,000 into her business, she gets valuable expertise and guidance on how to run her business successfully. If the startup fails, she has no repayment obligations in this case. In addition, Alison stands an opportunity to expand her business in the long run as the venture capital firm will expose her to a broader market and create more networks and meaningful connections. The disadvantage of working with a venture capital firm is that it dilutes control and ownership. In addition, it leads to an undervaluation of a business as they may release funds from time to time.
If Alison decides to hire an attorney and form a corporation, what should she do and consider when:
Hiring the attorney
Alison should consider the need for an attorney and the cost of hiring one when hiring an attorney. A strategically astute attorney can enhance the enterprise’s bottom line by helping craft the best structure for the business providing sound advice regarding and the legality of various possible courses of action. Choosing an attorney is a personal decision. Therefore, Alison should take her time to survey the market the size of her business and evaluate the character and qualifications of an attorney before settling for one.
Drafting the bylaws for the corporation?
While drafting the bylaws for a corporation, Alison should consider the number of shareholders in her business and the possible conflict of interests along the way. Alison must establish the shall/will for the company and its shareholders. In addition, she should ensure that the bylaws are consistent and agree with her business articles to facilitate easy understanding. Since bylaws determine the legitimacy of a business, Alison should treat it with utmost seriousness in its drafting and implementation.
Divvying up ownership?
In this case, Alison needs to consider the capital investment providers for the businesses. This action will ensure that disputes do not erupt along the way among investors and players in the business. It is also essential for Alison to map down the roles of each player in the business to avoid confusion and increase the business’s productivity.
Exam Conditions and Academic Integrity
Autumn 2021 – Marketing Main Exam
STUDENT NUMBER: SURNAME: (FAMILY NAME) OTHER NAMES: This paper and the answers must be returned via Turnitin and not seen by another person.
Exam Conditions and Academic Integrity
In attempting this examination and submitting an answer file, candidates are undertaking that what is submitted is the candidate’s own work, based on their own research and written in their own words. Any resources used by the student to construct their exam response(s) must be appropriately referenced.
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24738 Strategic International Marketing
Assessment Task 3: Final Exam (Individual)
Open-book, 24-hours, take-home exam
This exam is worth 40% of the subject marks
Instructions
This examination is made available online at 9:30 am on 15 June 2021 and is an individual assessment task.
Your completed answer file is due at 9:30 am on 16 June 2021 and must be submitted online via the Final Exam link Assignments folder on Canvas.
You need to read the case study first and answer all the questions
There are 7 questions. The contribution each question makes to the total examination mark is indicated in marks.
This examination is expected to take approximately 2 hours of working time. You are advised to allocate your time accordingly. Your answer file may be submitted at any time before the due time. Please allow time to complete the submission process.
Please submit your file in Word format.
Word Limit
There is a word limit for each question. In the case you use an external source (other than lecture and tutorial material) you must cite. Reference list is not included in the word count.
The most important thing is to answer the question in a succinct manner. This means that your answer can consist of a word count less than the imposed word limit.
Case Study: Under Armour to India
Introduction
This case focuses on Under Armour’s market expansion to India. Under Armour is a relatively young American sportswear company that has already performed remarkably well in the US. After entering countries in Europe, Latin America, and the Asia Pacific, Under Armour is currently exploring other countries where it can further expand their sales. Among these new candidates, the Indian market is of particular interest.
Between 2013 and 2015, Under Armour’s international sales more than tripled. By the end of 2018, Under Armour targets to have more than 800 stores and more than 2000 shop-in-shops internationally. Also, by 2018, the e-commerce department had set the goal to add 6 platforms to the 24 platforms they had in 2017.
Within groups of athletes, Under Armour primarily targets the athletes that started out as unknowns or underdogs. One of Under Armour’s marketing executives explains that Under Armour considers itself an “underdog brand.” This marketing strategy differs from the strategy of Nike and Adidas, who target and fight for the top athletes who are already famous and playing on the highest level.
Under Armour’s International Marketing Strategy
For the international marketing and distribution strategy, Under Armour does not show a consistent approach. On the one hand, they willingly adapt their distribution channels to the needs of the countries and regions they enter. On the other hand, Under Armour has more or less copied the successful domestic marketing and advertising strategy into their international marketing plans. Also, until now, Under Armour’s focus has been sports that are popular in the USA and Western Europe like American football, basketball, golf, and soccer.
Similar to the US market, Under Armour relies on the strategy of providing and selling their products to sports clubs and teams in Europe. However, the managers have noticed that in Europe, there is a different sensibility than in the US market. Therefore, Under Armour’s strategy cannot just be about marketing its US products in Europe, but they have to adjust. Also, the fact that Under Armour does not have a brand house store in Europe can hurt the sales in the long run.
In the Asia Pacific, Under Armour operates in China, Japan, Korea, Australia, New Zealand, Taiwan, and Hong Kong. China has been the most important market in the Asia Pacific region. In promoting their goods there, Under Armour has the advantage that one of their domestic market favourite sports, basketball, is also a huge sport in China. However, Under Armour is noticing price issues in the Asia Pacific market, especially in the footwear department. The higher-than-average price that Under Armour is charging for their shoes (even higher than an average Nike shoe, which is seen as a high-end brand) is driving customers away.
By evaluating the international marketing and distribution strategy, it is noticeable that Under Armour has used a similar strategy each time they enter a new market. The analysis of the applied strategy in Europe and Asia shows that using the same marketing strategy was not the right choice for Europe and copying the pricing strategy for shoes caused issues in the Asia Pacific market.
Target market: India
India is the second most populous country in the world after China. India is set to become the world’s youngest country, with 64% of its population in the working-age group by 2020. The economy has seen significant and consistent growth since the early 1990s. The biggest industry in India is retail, which makes up for almost 25% of the nation’s GDP.
Indian consumers are becoming more and more health conscious. They are turning to sports to foster a healthier lifestyle. A growing group of people of all ages are not seeing sports merely as an activity, but as a lifestyle. They prefer branded sportswear and do not mind paying extra for these products. It is estimated that in 2015, the Indian sportswear market was worth nearly $1 billion and is growing 13% annually.
In 2017, 80% of the sportswear market was controlled by the four big players in the global sportswear market (Nike, Adidas, Reebok, and Puma). The other 20% is divided among local retailers and emerging players. Only Adidas has managed to get an agreement with the government for their own stores, the rest of Under Armour’s competition is heavily dependent on franchising partners.
In comparison with Under Armour’s country of origin, India has less well-known athletes, and almost none of them have the superstar status the famous athletes in the USA or Europe have. The influential people in India who drive the sportswear market are the Indian pop culture icons: the Bollywood stars.
India has a big population, strong economic growth rates, and a vast growing middle class. Nevertheless, the differences in macro-environmental factors in India may push Ander Armour to reconsider their entry mode and strategies in India.
Top five most popular sports in India and America
India America
1 Cricket American football
2 Soccer Baseball
3 Field hockey Basketball
4 Badminton Ice hockey
5 Tennis Soccer
Questions
Based on the information provided in the case study, please complete the following sections of an international marketing plan for Under Armour to enter India. Please follow the instructions provided here, including the word limit.
1. A SWOT analysis (at least 3 items for each element – i.e. strength, weaknesses, opportunities and threats). Your SWOT analysis should also include a discussion of the results of the analysis. (Maximum 700 words) [8 marks]
2. Based on the findings of your SWOT analysis, establish a strategic focus for Under Armour in India. (Maximum 500 words) [5 marks]
3. Position Under Armour in the Indian market. Drawing a perceptual map or Strategy Canvas is optional (Maximum 500 words) [7 marks]
4. International market entry mode and distribution strategy (Maximum 500 words) [5 marks]
5. Communication strategy (Maximum 500 words) [5 marks]6. Product strategy (Maximum 500 words) [5 marks]
7. Pricing strategy (Maximum 500 words) [5 marks]
——– END OF EXAM——–
Answer (please write below the line)
Question #1: Under Armour’s SWOT Analysis
Strengths
Robust product portfolio
Global presence in the world’s major economies
Strong revenue growth profile
Multiple distribution networks
Positive market outlook in the United States business environment
Well-established and solid dealer community Weaknesses
Limited presence in global operations
Dependence on similar marketing strategy in culturally diverse markets.
Narrow geographical diversification
Opportunities
Emerging and growing Asia-Pacific markets
Growing popularity of fitness-oriented lifestyles
Product innovation to tap into women’s and kids’ market segments.
Growing e-commerce and mobile commerce popularity. Threats
Impact of global pandemics on sporting activities.
Competitive pressures from well-recognized rival corporations
Brand awareness constraints
SWOT Analysis Discussion
Strengths
As the case study reveals, Under Armour’s product portfolio has continued to strengthen its market stance by trading itself as “underdog brand” while not depending on a single product and associated accessories. This extensive product line is globally present in world’s major economies (U.S. Europe, and China), with the firm targeting to augment its international shop-in-shops and stores. This guarantees continuous company growth and a growing sales ratio. The case also suggests that Under Armour boasts consistently gowning revenue streams, with the 2013-2015 revenues tripling, a trend that the firm expects to replicate in coming years. The revenue growth can be attributed to the effectiveness of Under Armour’s effectiveness in leveraging its creative strategy of utilizing multiple distribution networks in various markets, its solid dealer community within these distribution networks, and its positive outlook in the U.S. market.
Weaknesses
Despite the identified strengths, the case study alludes to the major weakness of this firm: dependence on one marketing strategy in multiple global markets (Asian and European markets), which are obviously culturally diverse. Failing to adjust its U.S. marketing strategy to customise it to the needs in these markets has made the marketing strategy ineffective, causing issues that can hurt its long-run sales. Additionally, depending on one marketing strategy in diverse markets limits the firm’s operating presence in international markets, besides constraining its degree of geographical diversification. This has caused this relatively new sports equipment enterprise to continue operating with limited presence and stores in few markets.
Opportunities
Under Armour must leverage its strengths to exploit market and growth opportunities to compete with giant brand such as Adidas and Nike. Targeting emerging and growing markets in the Asia-Pacific regions, particularly Indian markets present a real growth and expansion opportunity of this firm. With its huge population, massive population growth, expected growth in middle class and working-age population (64% by 2020), and robust economic growth rates, India will be a rewarding emerging Asia-Pacific market with vast opportunities. Additionally, Under Armour can exploit the women and kids market segments that remains untapped in active sportswear through adequate product innovation using its contemporary technologies and core competencies. Further, fitness influencers and enthusiasts are increasing daily, augmenting people’s states in fitness lifestyles. Lastly, the firm can leverage the growing popularity for mobile commerce and e-commerce to reach new unexplored global markets
Threats
Adidas, Nike, Puma and other sports equipment giants have high brand recall and recognition among global consumer bases. This means that the competition from them has caught up with some Under Armour’s core competencies, rendering them no longer specific to the firm and posing major a major threat to its international growth. The giants’ brand popularity also compounds Under Armour’s brand awareness constrictions, keeping its brand recall and recognition low. The outbreak of major global pandemics can lead to closure sporting activities, adversely affecting Under Armour’s global supply chain practices.
Question #2:
The outcomes of the SWOT analysis have evinced that the strategic focus for Under Armour in India is on augmenting brand awareness and popularity to accelerate international business growth. The analysis of Under Armour’s strengths illustrates that while the firm has a strong product portfolio, its brand and product portfolio are only well-established and known in only major economies, especially China and the United States. Apparently, its rivals’ brands are recognized globally in major and emerging economies. This implies that Under Armour’s brand awareness, recall, and recognition are overly constrained among global customer bases compared to its rivals’, as observed under threats’ analysis. So, as it plans to enter the Indian market, its strategic focus should be on ensuring that its target customers’ brand awareness, recall, and recognition are augmented to spur the firm’s growth in this Asia-Pacific market.
The strategic option for realising this strategic focus entails incorporating niche marketing in India into its underdog brand strategy that targets non-famous athletes. Niche marketing would encompasses Under Armour focus on the Indian market as a distinct geographical area to establish growth, market, and business expansion advantages unmatchable by Adidas, Puma, Reebok and other sports equipment rivals within this dynamic business environment, as Dalgic and Leeuw (2015) suggest. Niche marketing would enhance brand awareness, cognizance, and recall among new Indian consumers by allowing Under Armour to leverage unexplored market advantages to maintain small but uniquely specific market positions. Besides augmenting brand awareness and recall, this strategic option would overcome the third weakness (narrow geographical diversification) while enabling this enterprise to customise its offerings to exclusively serve select client groups in the target Indian market, as Akbar et al. (2017) advocate.
Question #3: Positioning Under Armour in India
The perceptual map below illustrates the current Under Armour market position compared to its primary rivals in all markets globally.
331470113665Under Armour 2018,
Under Armour has already positioned as a brand, every product of which does something for you, that is makes you feel better.
2.
3. Position Under Armour in the Indian market. Drawing a perceptual map or Strategy Canvas is optional (Maximum 500 words) [7 marks]
4. International market entry mode and distribution strategy (Maximum 500 words) [5 marks]
5. Communication strategy (Maximum 500 words) [5 marks]
6. Product strategy (Maximum 500 words) [5 marks]
7. Pricing strategy (Maximum 500 words) [5 marks]
Reference List
Dalgic, T, and Leeuw, M 2015, ‘Niche marketing revisited: theoretical and practical issues,’ In Proceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference (pp. 137-145). Springer, Cham, doi: 10.1007/978-3-319-13159-7_32.
Akbar, F, Omar, A, and Wadood, F 2017, ‘The niche marketing strategy constructs (Elements) and its characteristics – A review of the relevant literature,’ Galore International Journal Of Applied Sciences & Humanities, vol. 1, no. 1, pp.73-80.
Under Armour 2018, Strategic communications and advertising planning assignment, Under Armour Situational Analysis, Under Armour.
Discussion Comment
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Women, Gender, and Crime
Some of the honor-based violence that women have been going through include customary killings, honor killings, dowry deaths, and bride burnings. These crimes are usually done to the women either by their father, brother, or male cousin. Despite the laws that prohibit murder, the committers in these delinquencies commonly assert that their doings were culturally acceptable (Mallicoat, 2019). Even though court systems come to be involved in these cases, offenders are not often identified and even more hardly punished to any extent. When activists and human rights establishments identify these happenings as honor-based violence, family members of the offender are usually ready to dismiss their daughters and sisters’ death as “accidents.”
Legal measures are one of the measures needed to be implemented to protect women from such crimes. Legal systems should protect women and condemn the practice of honor killings. Legal changes should address women’s position and give them chances for the same protection under the law. Preventive measures should also be put in place. They entail public awareness and education as the first step towards reducing honor-based violence. Since these practices are rooted in history and culture, efforts to change these deeply established attitudes will need resources and time to open communication on these beliefs (Mallicoat, 2019). The last one will be a protective measure which includes resources for women fleeing violence, shelter, provisions for the protection of children, legal assistance to epitomize victims of crime, and training to upsurge the financial self-sustainability for women
Reference
Mallicoat, S. L. (Ed.). (2019). Women, Gender, and Crime: A Text/reader. SAGE Publications, Incorporated.
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