2. Human Resources should assess the skills and competencies of the auditor and ensure that the engagement partner possesses these competencies in order to fulfill engagement responsibilities. 3. Revenue recognition typically occurs at the point of sale. Ligand should have increased its allowance for sales returns to a greater quantity to account for the large number of sales returns.
General Question: Which segment should HubSpot Target? B2B or B2C? Owner Ollies or Marketer Marys? Executive Summary Hubspot should consider strategic changes to achieve accelerated growth and increased profitability. The target markets can be divided on two fronts: Company Size (Small Vs Large) and type of business (B2B Vs B2C) HubSpot needs to reconsider its marketing and pricing strategy.
Product modification includes altering the characteristics of the product specifically quality, performance, appearance, etc. in order to increase the value of the product and sales. Market modification is when a company seeks new customers or attempts to increase a product’s use with existing customers. The repositioning of a product is an action taken to increase sales. This changes the place a product occupies in a costumers mind as compared to the competition.
• Implementing information technology in order to increase efficiency in operations and marketing aids. • Point-of-sale systems that helps increase inventory turnover and sales and lead to better targeted customer marketing. • Brand identity. • The use of informational complexity to promote and educate consumers regarding their products. Q4 What are the key elements of Oliver’s strategy?
Therefore, it could facilitate the growth plans of BBQfun. For e-commerce, it would have strong effects on growth plans of BBQs. Owing to selling products through e-commerce, customers could easily order products everywhere and every time. As a result, the sales volume as well as the revenue would increase and simultaneously broadening the customer base. With regard to selling products at bargain prices, BBQfun could raise its market volume because the lower price would be an incentive to encourage customers’ purchasing.
The Fashion Channel M E M O R A N D U M To: Jared Thomas From: Dana Wheeler Subject: Market Segmentation Mr. Thomas, as you know, The Fashion Channel is facing several competitive threats in the fashion entertainment TV business. The purpose of this memo is to recommend a new segmentation and positioning strategy for TFC in order to strengthen its competitive strategy Recommendations It is my recommendation that TFC move forward with a dual-segment marketing strategy, focusing the programming efforts on the Fashionistas and Shopper/Planners. These two segments are predominately made up of females, ages 18-34 who could offer a significant boost in our margin and net income. I am also recommending that the majority of the advertising, promotion, and public relations budget for the fiscal year be dedicated to building brand loyalty for the two segments listed above. Data Analysis The data provided in appendix 2 lists all the financials associated with the recommendation above.
We operate with a rapidly changing assortment of brand name and designer merchandise at prices generally 20%-60% below department and specialty store regular prices on comparable merchandise, every day. With our value proposition and exciting treasure-hunt shopping experience, we believe that our demographic reach is among the widest in retail as we attract a broad range of fashion and value conscious customers across many income levels and demographic groups.” This means that TJX is based on all low prices. Their mission is to have brand name designers in their stores and always have the hot new trends. They want you to get the lowest price possible on all of the designer merchandise for the season. Their mission is to also have all ranges of people with different incomes, shop at their store.
• Increased number of partnerships with companies like Renault, Toyota and AVIS will increase exposure to consumers and increase unit sales as well. • Vertical integration and controlling the map creation process for developing countries as well will increase usage and also increase sales in the rest of the world. • Strategic mergers and acquisitions may open up new markets. • Improved customer experience with value added services in devices and services will increase customer loyalty and word-of-mouth advertising. • Customise products for use in countries like Canada and Australia to meet legislative standards before rivals can launch products of the same nature.
Using celebrities to endorse our products will influence teens to buy our products. Third, we can do more with advertising. Currently, we advertise by printing ads in magazineslike Seventeen and Cosmopolitan. We should make billboardsin populated places like New York City andLos Angelosfeaturing our newest products.We should makecommercials that are played on YouTube and Instagram. To increase our international sales, we should start planning to make our products accessibleto countries in Europe, Asia, South America, and Australia.
Win customer loyalty. 2. More promotion activities and advertising to higher market awareness continuing to higher purchase intension. 3. Properly lower price to stimulus and expend customer range.