Target Market And Competitive Analysis Essay - 3169 Words

Target market and competitive analysis It specifies the person who are the main source of income or via whom the business is growing and becoming successful. It means the customers who are likely to buy the product. One should consider numerous steps while considering the target market for the products. It can be divided into following categories: Demographic: It specifies the gender, income and education. In this category the people who are well educated and have knowledge about good and bad products come. In terms of our product, it is launched in China so it will target the educated people of China who believe in quality and standard. Furthermore, females love pets more as compare to men so the other approach will be to target the women of China by giving the best quality and standard of pets’ food in China market. The good influence on one woman will impact the other women of the society because this gender is the most friendly and information provider gender because information from one woman to other woman transfers very fast. Instead of this the Butch Pet food will target the high income people of China because they love to keep the pets in their houses and farms so by giving promotions and good quality the high income people will be targeted for sale in China. Geographic: It means to target the people on the basis of region, city size and climate. The climate of China is good for Pets so it is a advantage for the Butch company to sell the product over there becauseShow MoreRelatedSwot Analysis : Target Corporation Essay1745 Words   |  7 PagesTarget Corporation is known worldwide as a large retail chain that brings in millions of dollars each fiscal year. 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Learning Experience Free Essays

Learning Experience PSY/211 July 26, 2012 Daysi Brown Learning Experience Many Americans have fears of all kinds. One fear is roller coasters. Individuals who have this type of fear may also have the fear of heights and how high the drop is on a loop or how fast the coaster goes. We will write a custom essay sample on Learning Experience or any similar topic only for you Order Now They have the feeling as if they are going to fall if up too high or how queasy their stomach may feel with the thought of approaching the big loop. This type of behavior can come from something as little as tripping off a curb or falling off a bike which triggers them to be afraid or fearful of anything that is high up. When it comes to individuals with the fear of roller coaster there is something in the mind telling them that they are too high up which makes them fearful of the coaster or just the thought of getting on and actually riding The classical conditioning type of learning in which a neutral stimulus comes to bring about a response after it is paired with a stimulus that naturally brings about a response. The learning experience of this type of conditioning is to overcome the fear by trying to find ways to be able to ride the roller coaster. Another way is to research and find ways to help with the feeling of heights and the fear of roller coasters There are ways that to help with this fear by trying to figure out the natural response of the feeling of riding the coaster. Operant conditioning is learning in which a voluntary response is strengthened of weakened, dependent on its favorable or unfavorable consequences. The experience of this conditioning is to have a feeling How to cite Learning Experience, Essay examples

Spectrum Brands Strategy for Diversification free essay sample

:An assessment of the company’s financial results will be based on data from the case and other sources. Recommendations from the assessments performed will be given on what it will take to restore the company to profitability and boost its long-term performance prospects. Spectrum Brands Strategy for Diversification: Success or Failure? When assessing the strategies of CEO David Jones on globalizing Rayovac’s battery and flashlight business during 1999 to 2004, there is the need to consider the purchase of Rayovac in 1996 by a private equity company Thomas H. The purchase agreement for Remington Products Company, LLC was for a price of $222 million, and included assuming Remington’s debt for the twelve months prior to the purchase. Remington’s sales were approximately $360 million with a net income of only $20 million. Remington was the number one selling brand in the U. S. in the dry shaving and personal grooming products categories based on units sold (P. C293). Remington had also acquired the worldwide personal care appliances business of Clairol in 1993; which consisted of hair dryers and stylers, hot rollers, and lighted mirrors. Internationally, Remington’s products were sold in more than 85 countries through a network of subsidiaries and distributors. Spectrum’s Diversified Industry: Continued Once Rayovac entered into the electric shaving industry, the company consolidated the two companies and relocated the corporate headquarters to Atlanta, Georgia, and all of the manufacturing operations to Rayovac’s plant in Wisconsin. The R D facilities were combined into one department, with closing the distribution and service centers and then relocating those functions to Rayovac’s North American and European facilities. The onsolidated sales management, field sales operations, and marketing were moved to Rayovac’s North American sales and marketing organization (p. C293). In 2005, Rayovac acquired the privately owned United Industries from Thomas H. Lee Partners for approximately $1. 2 billion with the assumption of approximately $880 million of United Industries debt, and a cas h tax benefit of $140 million. In 2004 United had sales of approximately $940 million, was the leading manufacturer and marketer of consumer products for lawn and garden care and household insect control as well as premium branded specialty pet supplies. Once acquired, the lawn and garden products and household insect control divisions operated as Spectrum Brands in the U. S. and as NuGro in Canada. Spectrum Brands included such products as: Spectricide, Vigoro, Sta-Green, Schultz, and C. I. L. in the lawn and garden market; and Hot Shot, Cutter and Repel in the insect control market. The pet supplies division operated as United Pet Group and included products of; Marineland, Perfecto, and Eight in One in the pet supply market. The major customers for all of these products include; Home Depot, Lowe’s, Wal-Mart, PETCO, and PETsMart (p. C293). Spectrum’s Diversified Industry: Continued Rayovac acquired the privately held company of Tetra Holding, headquartered in Germany for the purchase price of approximately â‚ ¬415 million, with annual sales of around â‚ ¬200million. Tetra was the leading global brand for foods, equipment, and care products for both fish and reptiles including accessories for home aquariums and ponds. Tetra operated worldwide in over 90 countries and held the leading market positions in Germany, the U. S. , Japan and the United Kingdom. Rayovac now had the ability to strengthen the strategic position of the newly created division of pet supplies, and have the leverage needed for the company’s worldwide operations. Another move made by Rayovac to strengthen Spectrum’s market position in aquatic supplies in 2005, was to acquire Jungle Labs for $29 million with additional contingent payment defined by meeting future growth objectives. Based out of Texas, Jungle Labs had sales of approximately $14 million as a leading manufacturer and marketer of premium water and fish care products including; water conditioners, plant and fish foods, fish medications, and other products to maintain an optimal environment in aquariums and ponds. With a proven track record and product line of innovative development and marketing in water and fish care that complemented the previously acquired Tetra, and United Pet Group brands would strengthen Spectrum’s position in aquatic supplies (p. C293). Spectrum officially changed the name from Rayovac to Spectrum Brands to trade on the New York Stock Exchange as ‘SPC’. Spectrum’s Diversified Industry: Continued The following diversification statement was issued by Spectrum Brands in October 2005 as a commitment to reducing investor and shareholder risks in regards to the growing uncertainties of the global market: At Spectrum Brands we are committed to cultivating a diverse, inclusive and performance oriented culture that encourages all of our people to contribute to their fullest potential. The heart and soul of our company has always been our people. Over the years, our employees have been integral to our successes by living and working with a consistent set of core values. While the world and our business will continue to change rapidly, respecting these values will continue to be essential to our long-term success. Part of what we value are personal differences—whether they be race, gender, age, religion, culture, ethnicity, veteran status, national origin or physical ability—and the benefits that an array of backgrounds, cultures and thinking styles bring to our organization. As a global consumer products company, we are acutely aware of the ever-changing demographics in our various markets and how these changes will significantly influence our future plans, goals and objectives. We recognize that our continued success at competing for new customers as well as attracting the most highly qualified employees will depend on understanding, accepting and embracing these differences. As we have grown, our company has benefited from the various cultural insights and perspectives of the geographies in which we do business. Much of our future success will depend on our ability to further develop a worldwide team that is rich in its diversity of people, cultures and ideas. To this end, at a recent Executive Committee review, the leadership team affirmed their support for Spectrum Brands actively promoting and supporting diversity and inclusion both in our workforce and through support of the communities where we do business. At Spectrum Brands, promoting diversity and inclusion will not be a â€Å"program,† but a philosophy. Treating others with respect and dignity and welcoming individual differences is not only encouraged but expected. This philosophy enhances our competitive edge and ensures our future success in the continually evolving global marketplace. I ask and expect each employee to embrace this philosophy and truly support the development of a diverse culture, throughout the Company, that benefits from the perspectives of each individual (http://www. spectrumbrands. com/corpinfo/). Industry Attractiveness Spectrum Brands’ diversified strategy can be measured using analytical measurements of industry attractiveness and competitive strengths. These measurements help show any strategic fits between the industry’s segments of diversification, both individually and as a group. The first analytical measurement is based on the attractiveness of Spectrum Brands’ industries of consumer batteries, pet supplies, lawn and garden, electric shaving, insect control, personal care, and portable lighting. The factors that affect industry attractiveness for these industries are the market size and growth rate, intensity of competition, product innovation requirements, resource requirements, strategic fits with other industries, industry opportunity and threats, social, political, and environmental factors, and industry profitability. Industry Attractiveness: Continued The scores indicate that each product category scored fairly high in market size and growth rate, which shows that they are very attractive industries. The pet supplies products, lawn and garden, and insect control product portions of the United Pet, Spectrum Brands in the U. S. and NUGro in Canada companies scored particularly high in attractiveness. The portable lighting products are the least attractive with scoring a 3. 50 on attractiveness. As a group overall, the industries and product categories in which Spectrum Brands has a presence in are highly attractive, which supports a good outlook for the company with above average profitability. The second analytical measurement is based on the competitive strength of these business groupings. These measurements are based on their competitive strengths in relation to their relative market share, costs relative to competitors’ costs, strategic fits with sister businesses, brand image and reputation, the ability to match and beat rivals on key product attributes, product innovation capabilities, and bargaining leverage. The competitive strength assessment for Spectrum Brands’ businesses is indicated below. As indicated on the competitive strength assessment for Spectrum Brands’ businesses, the results show that in relative market share the top three were: 1) Rayovac/VARTA, United Pet, and the lawn and garden divisions scored very high with 9; 2) Remington shavers scored relatively high with a 7; 3) Remington personal care and portable lighting scoring a 5. In respect to the ability to match or beat rivals on key product attributes, the top three were: 1) United Pet and the lawn and garden divisions scored a 9; 2) Rayovac/VARTA and Remington shavers scored a 7; 3) The insect control division scored a 5. The two divisions that scored the lowest are Remington personal care and portable lighting with having scores of 4 and 3 respectively. These divisions need further analysis in strategic fits with sister businesses to strengthen the brand image and reputation of these product lines, and by means of product innovation capabilities and bargaining leverage with both suppliers and vendors to the advantage of Spectrum Brands. Once these tasks are accomplished the ability to get these brands in the marketplace will be easier; vendors will be more willing to provide Spectrum Brands with more profitable shelving space. Industry Attractiveness: Continued The final analytical tool used to interpret and portray industry attractiveness and competitive strengths is the nine cell industry attractiveness and competitive strength matrix. Each business unit is portrayed as a bubble and is plotted on the nine sell matrix according to the overall attractiveness score and strength score. The size of each bubble is scaled to what percentage of revenues the business generates relative to total corporate revenues. In this instance, Rayovac/VARTA represents the largest bubble, followed by United Pet Group. Industry Attractiveness and Competitive Strength Matrix Industry Attractiveness: Continued The industries that fall into the center square of the matrix are a high priority for resource allocation, followed by the upper left quadrant, and finally the bottom right quadrant as the lowest priority. As shown on the previous page all business units, except for portable lighting, Remington personal care and Rayovac/VARTA are well into the high priority zone and are still in very good positions. As a diversified company, Spectrum Brands has good prospects for overall performance enhancements by concentrating corporate resources and strategic attention on those business units having the greatest competitive strength and positioned in highly attractive industries. Spectrum Brands’ shareholders should be pleased to some modest extent with the positions of the corporations’ business groups on the attractiveness and strength matrix. United Pet Group is the highest rated, followed by lawn and garden and insect control divisions. If no other solutions can maximized from the sister business, the portable lighting business unit should be considered as a candidate for divestiture. The overall attractiveness and competitive strengths of these industry groups indicate that they are well matched and suited for the future longevity of Spectrum Brands. Spectrum Brands has pursued a strategy of both related and unrelated diversification. The strategy is most accurately characterized as retrenchment and divestiture.