Besides, YouTube – A video website that can help artists to share their music all around the world in a second. All those things can help people to get in touch with music easier than before, it creates a positive affection to music industry. * Competitors: Customers become smarter and smarter because the better education and social environment, the standards that music industry is required, are become higher and higher. Moreover, people have lots of methods to relax themselves instead of music, for example, Movie Theatre, digital social network platform. The entertainments around us are become better and more choices.
Alex Rodriguez is the highest paid baseball player and plays on the most popular team, the New York Yankees. In December 2007, he signed a contract worth $275 million for 10 years. People follow his every move and tend to copy whatever he is doing because it is the “hip” thing to do. Alex signed an endorsement deal with “Vita Coco” and advertised the company. In this report, Darren Rovell stated, “The Company sent a picture to the press of Rodriguez holding the product, which did $40 million in business in 2010, with the goal of hitting $100 million in sales this year (Rovell).” Just a picture of Alex Rodriguez drinking the product helped the company gain a lot of profit.
However, this may also go against them because without stores there sales will be lower than they could be if they did own shops. The website also helps to increase sales revenue as it is bright and eye-catching that could encourage people to buy their products. The website also helps to increase sales revenue as the delivery service offers free global shipping, which could increase sales exponentially. However, this does have exceptions as it does not deliver to some countries. ASOS also add 1790 new clothing lines a week and already have 50,000.
Growth maximisation is where the firm’s main goal is to increase the size of the firm as much as possible. Some firms may have the objective to maximise revenue, this basically is when a firms aim is to achieve as high total revenue as possible and occurs when marginal revenue to equal to zero. Another objective of s firm may be a profit satisfaction, this is where a firm produces a profit which is deemed to be a reasonable level, which is satisfying to stake holders and is not maximising profit. The best example in a leisure market is a firm that has been recently set up and wants to survive so the first couple of years their target will be to make a profit and survive. If they try to maximise profit it would an unrealistic competition as
2. How many different groups can you think of whose needs Nederlanders Concerts must satisfy to remain a successful business? I can think of a few groups whose needs must be satisfied by Nederlander Concerts in order for them to be successful. The first would be the band and the band’s manager. The band and its manager would need to be happy with the size of venue and possible profit (if sold out).
In today’s competitive world, the event industry must have dedicated employees who are committed to making an event successful in order to ensure its longevity. A successful event within the industry is Circus Oz, which is a major, live circus performance that displays a unique style of circus entertainment, and is popular for people of all ages, and has rapidly become one of the world’s most popular family entertainment events. Circus Oz is not part of the MICE industry, however it has been held in Sydney and Melbourne every year since it emerged in 1978, as well as in 25 other countries around the world, which makes it a significant international event. The founding members of Circus Oz loved the skills and tricks of traditional circus but wanted to make a new sort of show that a contemporary audience could relate to, adding elements of rock and roll, popular theatre and satire. The highly skilled performers of Circus Oz provide entertainment through exciting acrobatic displays, aerial stunts, clowning, a ringmaster, a magician, dancing, humorous impersonations, and juggling.
And the third are occupancy rates, which is critical to the financial performance of any hotel in any market across the world. The Portman Ritz Carlton suffered from these factors, which led them to make major changes, most notably to upper management to try and turn the hotel around. Ritz Carlton brought in Mark DeCocinis, a 20 year veteran in the Hotel business and a successful general manage with Ritz Carlton, to turn the hotel around. Mark DeCoconis, with his leadership skills and his people are what turned the Ritz Shanghai to an award winning establishment. The main source behind the turnaround and continued success of the hotel starts with business and talent requirements of the hotel.
Nederlander should focus on advertising through specific media channels such as YouTube, and iTunes. I think overall, the area Nederlander Concerts is established in will always bring them a good profit if they continue to supply their audience with a once in a lifetime concert experience that creates an intimate feeling between the artist, and the audience. 2. According to what I read, the ultimate objective of every business must be to satisfy the needs of its customers. So from my opinion Nederlander must first supply the needs of the younger generation.
Even though the Brita products are a bit more expensive, people are willing to pay at that price for greater tasted water. Since Clorox is so successful, they have a significantly large marketing and R&D budget and that is where Clorox’s advantage is against their competitors. Clorox can further use this advantage. For example, Clorox can increase their advertisement either on TV or radio to attract new customers and to gain brand recognition. Clorox can also put more efforts on designing new
A major sporting event like the Olympics can attract 10,000s of people for the duration of the games. These foreign tourists bring a boost to the local economy. In particular the local tourist trade, shops / hotels will benefit from the surge in visitor numbers. However, it is worth noting that these visitor numbers tend to be temporary. The major sporting event only lasts for a few weeks; potentially there could be many empty hotel beds in the future.