PG Japan; Sk-2 - 1762 Words

* Case Paper: Pamp;G Japan: The SK-II Globalization Project Mina Uwakubo Hawaii Pacific University Mr. Louis R. Collazo MGMT 6310 April 8, 2012 SK-II’s success is not only prestige skin care product or advanced technology but also its marketing approach to build the new brand. Pamp;G succeeded to connect between the core technology or product concept and local market. Through Japanese market among the world’s toughest competitors, Pamp;G developed potential source of innovations. In addition, SK-II’s marketing strategy built a new approach, Market research, Concept, Packaging, Positioning, Communications strategy. It was a big challenge that Pamp;G shifted from Mass marketing, such as Olay brand, to Class marketing. SK-II’s†¦show more content†¦Ã¢â‚¬ ¢ Price: Premium price †¢ Place: Luxury and counter at department store †¢ Promotion: Counseling by beauty counselor, TV advertising, Beauty magazines Pamp;G utilized and rebuilt its distribution channels of using trained personnel at beauty counters throughout Japan. SK-II’s success had been achieved in a culture where the customers, distribution channels, and competitors were different from in other countries. For example, Japanese customers more educated, average Japanese women spent 4.5 minutes on her face cleansing, and most sophisticated users of beauty products in the world. On the other hand, in China customers due to Olay’s education recently moved from a one-step skin care process to a three-step cleansing and moisturizing process. However, unlike China, Europe had a large and sophisticated group of beauty-conscious customers who is already practiced a multistep regimen. As we see it is model is transferable but they have to modify some of models characteristic depending on customers behavior, competitors and market factor. Pamp;G Japan’s competitive advantage is firm-specific but SK-II’s advantage is country-specific. I would suggest that de Cesare would be to expand SK-II brand within Japan. The company should continue to build on SK-II’s success in Japan. By building on brands success in the proven domestic market, Procter amp; Gamble would beShow MoreRelatedPG Japan: the Sk-Ii Globalization Project1692 Words   |  7 Pagesbefore deciding what to recommend in your SK-II presentation to the global leadership team (GLT)? What kind of analysis will you need to do in preparing for that meeting? There are many factors that need to be considered when deciding recommendations to the GLT of SK-II. Being that this is PG’s first proposal to build a Japanese brand worldwide, it is important to take into consideration different cultures than of the consumers in Japan. Since 2005, PGs global organization has been in theRead MorePg Japan1454 Words   |  6 Pagesto global business management. In the context of these changes introduced by Durk Jager, Pamp;G’s new CEO, Paolo de Cesare is transferred to Japan, where he takes over the recently turned-around beauty care business. Within the familiar Max Factor portfolio he inherits is SK-II, a fast-growing, highly profitable skin care product developed in Japan. Priced at over $100 a bottle, this is not a typical Pamp;G product, but its successful introduction in Taiwan and Hong Kong has de Cesare thinking theRead MorePG Japan1409 Words   |  6 Pages Does SK-II have the potential to become a global brand within Procter Gamble’s worldwide operations? Why or why not? 2. Which of the three market options should Paulo Decesare recommendation to the GLT? What benefits do you expect to gain? What risks do you see? 3. How Should he implement your recommended option? What are the implications for PG’s new post-O2005 organization? What support and/ or resistance do you expect? How will you manage it? 4. Why was SK-II so successfulRead MorePG Japan1395 Words   |  6 Pages Does SK-II have the potential to become a global brand within Procter Gamble’s worldwide operations? Why or why not? 2. Which of the three market options should Paulo Decesare recommendation to the GLT? What benefits do you expect to gain? What risks do you see? 3. How Should he implement your recommended option? What are the implications for PG’s new post-O2005 organization? What support and/ or resistance do you expect? How will you manage it? 4. Why was SK-II so successfulRead MorePG Japan: Sk-Ii Globalization1032 Words   |  5 PagesIn the highly competitive Japanese skin-care market, PG ¡Ã‚ ¦s new SK-II product has proven its success as a premium and prestige offering. PG has gained significant knowledge transfers from SK-II development and further, has successfully tapped the fickle Japanese market and has devloped a loyal user-base in Taiwan and Hong Kong. With its phenomenal success, it is only logical that PG consider rolling-out the SK-II product-line to the international market. However, while there is significant worldwideRead MoreAs Paolo Decesare, What Factors Do You Need to Consider Before Deciding What to Recommend in Your Sk-Ii Presentation to the Global Leadership Team (Glt)? What Kind of Analysis Will You Need to Do in Preparing for?1306 Words   |  6 Pagesquestion The factors appropriate for SK-II as an existing brand in a country which would have had some priority over other products in the market will have to consider the PESTEL factors, Porter s five forces, SWOT,Marketing mix,Investment decision and the culture as well must be understood to position the product in new global market. PESTEL FACTORS This looks at the possibility of how SK-II cosmectics product can be a booming brand in Japan for Pamp;G company to grow their market shareRead MoreCase Study PG Sk-Ii Product in Japan and East Asia1527 Words   |  7 PagesPamp;G Japan SK-II Case Study Up to 1984, Pamp;G’s Japanese operation was a failure due to the following reasons: 1. Pamp;G did not take the time to determine the local needs based on the culture and common practices amongst the Japanese people. The product development was based on Western markets and it was assumed that it would streamline itself to other areas of the world. An example cited in this case study was the use of tap water for laundry washes without implementing aRead MorePG Global Expansion4949 Words   |  20 PagesCesare, president of Max Factor Japan and GLT member on the Beauty Care GBU, is to present an analysis of SK-II’s potential to become a truly global brand. There are 3 alternatives for SK-II’s global strategy: To build on the brand’s success in Japan, tap into China, or expand SK-II into Western Europe. If Pamp;G chooses to focus on Japan, it is possible that they might achieve national brand recognition. However, to become a truly global brand, it is necessary that SK-II enters new markets. Yet, weRead MorePG Japan the Sk-Ii Globalization Project2059 Words   |  9 PagesGMBA 5075 International Management Case 5-2 - Pamp;G Japan: The SK-II Globalization Project Group Report Due date: 12/03/12 By: Wendy Rodriguez Francisco Oliveira Francisco Andujar Yichen Li Intro: This case describes how SK-II which is a fast-growing skin care product is becoming very popular with a price to match its performance. After being introduced in Hong Kong and in Taiwan, Pamp;G believes that this brand has a strong global potential. At the conclusion of this case, theRead MoreMarketing1233 Words   |  5 PagesMarketing Written Report SK-II Segmentation, Targeting Positioning in Hong Kong Group Members: (Group 2) Chan Yuk Fung, Nichole Ho Wai Ki, Vivian Kwan Tsz Kwan, Sita Ng Chun Ting, Jacky Yuen Ka Wai Date of Submission: 18 Apr 2012 Content 1) Introduction of SK-II P.3 2) Segmentation for SK-II customers P.3-4 3) Analysis of SK-II Segmentation P.4 4) How SK-II target their customers P.4-5 5) Positioning Value

Joyce Carol Oates Where Are You Going, Where Have You Been

Joyce Carol Oates Where Are You Going, Where Have You Been? Every person comes face to face at some point in life with vital decisions. Some of the decisions are minor ones, while others can bring turning points in life. In Joyce Carol Oates Where Are You Going, Where Have You Been? she displays a particular instant in the main characters life. This character, Connie was caught in the difficult transition from her youth and innocence to a doubtful future. Throughout the story Connie alternates between two very different sides of her personality, one side where she is innocent and young, and the other where she is mature. Understanding the magnitude of Connies character and her interaction with others is key to comprehending†¦show more content†¦Connie managed to escape from reality through music and boys. Consequently, when Arnold Friend shows up at Connie?s house after her parents have left, she is neither happy nor mad that he is there. She was not sure what to make of it. Perhaps if Connie had been as mature as she played herself off as she may have been able to handle the situation Arnold put her in better. That Sunday when Arnold stopped by Connie was wearing bright green, which usually symbolizes youth and fertility. However as the encounter with Arnold progresses she began to sweat which darkened the shirt. Dark color suggest evil, and the darkening of the shirt as the visit grew more intense shows how Connie finally began too realize that her meddling between the worlds of adulthood and adolescence had come to a paralyzing stop. This was when Connie finally realized how evil the world could be. One explanation for Connie?s behavior is her relationship with her father. There is barely any mention of him throughout the story. The narrator comments, ?Their father was at work most of the time, and when he came home he wanted supper, and he read the newspaper at supper, and after supper he went to bed. He didn?t bother talking to them much(153). This explains Connie?s constant need to feel wanted from men and her yearning for affection. She gets none at home; her father won?t even look at her. If Connie?s father showed heShow MoreRelated Joyce Carol Oates Where Are You Going, Where Have You Been?1539 Words   |  7 PagesJoyce Carol Oates Where Are You Going, Where Have You Been?   Ã‚  Ã‚  Ã‚  Ã‚  Joyce Carol Oates was born in 1938 in Lockport, New York. She started writing very young and that the age of fifteen she submitted her first novel, but it was rejected for being too dark;. This style of writing is common on many of her works including Where Are You Going, Where Have You Been?; Oates graduated from Syracuse University and then went on to get her masters degree from the University of Wisconsin. Oates turnedRead MoreWhere are you Going? Where Have you Been? by Joyce Carol Oates1100 Words   |  5 PagesWhere Are You Going, Where have you been? is a short story written by Joyce Carol Oates. The 75 year old American author and professor at Princeton University, introduce the story of 15 year old Connie who is rebelling against her mother’s whishes. A very arrogant and selfish girl that in her world the only thing that matters is how many heads she can turn when walking into a room. Through the story life gives her a test, to confront Arnold Fri end, the antagonist of the story; who possesses a nefariousRead MoreWhere Are You Going, Where Have You Been By Joyce Carol Oates990 Words   |  4 PagesSocial Reality: An Analysis of â€Å"Where Are You Going, Where Have You Been† by Joyce Carol Oates Joyce Carol Oates has kept her true inspiration behind â€Å"Where Are You Going, Where Have You Been† in order to create a willing suspension of disbelief between realism and fantasy. The short story by Oates was released soon after the newspaper published the murders committed by Charles Schmid Jr. in 1966. The story displays numerous resembling details that match the real-life murder case involving â€Å"TheRead MoreWhere Are You Going, Where Have You Been By Joyce Carol Oates1032 Words   |  5 PagesOne may never realize the people surrounding one’s everyday life, crammed with bodies of contrasting characters, pasts’, and styles; however, who are these people genuinely? Arnold Friend, in the short story, â€Å"Where Are You Going, Where Have You Been† by Joyce Carol Oates, managed to deceive with his false characteristics. Arnold Friend was brought to life from Oates’s imagination of the mischievous serial killer Charles Schmid. Arnold Friend and Charles Schmid similarly attempted to delude withRead MoreWhere Are You Going, Where Have You Been? by Joyce Carol Oates1157 Words   |  5 Pages Joyce Carol Oates’ â€Å"Where Are You Going, Where Have You Been?† is a modern interpretation of the classic narrative of evil tempting innocence. Oates’ version of the devil allegory combines this Christian model of temptation with contemporary secular society. Connie is a pretty fifteen year-old girl, beginning the process of maturation into adulthood. She begins to become aware of her ability to act of her own volition, but her naivete renders her ignorant to Arnold Friend’s layers ofRead More Where Are You Going, Where Have You Been by Joyce Carol Oates1563 Words   |  7 PagesWhere Are You Going, Where Have You Been by Joyce Carol Oates In Joyce Carol Oates story, a teenage girl named Connie was stripped of her innocence. Gonna get you baby( 497).This chilling line is what the devil said to Connie the first time Connie came in contact with him which foreshadows of things to come. This one comment clearly points to a situation where Connie would be taken from a safe haven of innocence. She would be TAKEN, not simply invited. Connie was a Read MoreWhere Are You Going, Where Have You Been by Joyce Carol Oates1107 Words   |  4 PagesIn Joyce Carol Oates â€Å"Where are you going, where have you been?† introduces us to Connie a self-absorbed, rebellious, and very naà ¯ve fifteen year old who is tossed into this world of sexuality, and adulthood she believes she knows all about. As Oates explains about Connie to us we get introduced to what influences her to act out and not care what others think and go about dealing with problems herself. Her mom is brought in as an over protective mother who wants to see her daughter succeed but doesn’tRead MoreJoyce Carol Oates Where Are You Going Where Have You Been1502 Words   |  7 PagesThe Devil in Disguise Joyce Carol Oates’s â€Å"Where Are You Going, Where Have You Been?† describes the story of a fifteen-year old girl named Connie who does not seem to have a care in the world. The story takes place in the seventies. Connie is a girl who just wants to have fun and is all about her appearance and boys. In the beginning of the story, you understand the relationship between the mother and Connie. The mother appears to be malicious of her young and beautiful Connie saying such harshRead MoreWhere Are You Going Where Have You Been? by Joyce Carol Oates991 Words   |  4 PagesThe decisions that you make throughout life can make or break you; you just have to make the right ones. In Joyce Carol Oates story â€Å"Where Are Your Going Where Have You Been?†, the main character is Connie. Connie had an older sister but she was nothing like her. Her older sister always pleased her mom, and Connie did not care. Connie and her friend hang out and go to the shopping cente r or the movies. One day they decided that instead of going to the mall they would go to the diner across theRead MoreWhere Are You Going, Where Have You Been by Joyce Carol Oates1008 Words   |  5 Pages There are always two sides to every story. The short story â€Å"Where Are You Going, Where Have You Been†, by Joyce Carol Oates is a prefect example of just that. In this short story, the main character is a fifteen year old girl, named Connie. The young adolescent has two sides to herself; one when she is at home and one when she is out with her friends. When Connie is at home, she acts childlike. However, when she goes out she tries to act like an adult by changing her clothes and the way she talks

Book Report People Over Profit - 2582 Words

Romaine D. Nuyda 4 TE-2 Book Report: PEOPLE OVER PROFIT By Dale Partridge A. INTRODUCTION Dale Partridge’s book had a quote from George Orwell, â€Å"In a time of universal deceit, telling the truth becomes a revolutionary act.† This statement says a lot about how the book sees our current business practices, acknowledges it, and gives us a few tips as to why valuing people over profit results to real entrepreneurial success. Partridge started with a short story of how his visit to the physician made him realize the unethical practices in most, if not all, businesses today. He was asked to wait for his physician for more than an hour, but was surprised when the actual consultation lasted only 3 minutes tops. He felt as is his time was completely disregarded and was dishonored as he look at the numerous people still waiting outside for a 3-minute talk. This reflects the state most of our industries are in today. Those who tend to lower product or service quality to maximize their profits, without considering their customers. He saw an opportunity for â€Å"Social Good Movement† or â€Å"Conscious Capitalism† where customers pay more for more ethical standards and better quality products or services. Some of these SGM or Conscious Capitalism companies include Trader Joe’s, Ben Jerry’s, Whole Foods and TOMS. Inspired by these, Partridge started his own social enterprise, Sevenly. His company focuses on selling quality goods, and for every purchase he donates seven dollars to theirShow MoreRelatedAnalysis Of The Central Asia Institute Three Cups Of Tea Scandal1713 Words   |  7 Pagesmade many people contributing towards the organization question the world influences and efforts of the institute. â€Å"Three Cups of Tea† the non-fiction book co-written by David Oliver Relin and Mortenson, propelled the non-profit forward into shocking success as it lingered on the New York Times bestseller list for four years straight. The supposed true story of Mortenson’s lif e changing trip to a mountainous region in the Middle East created a published story that â€Å"motivated millions of people to buyRead MoreThe And Its Visionary Jeff Bezos1652 Words   |  7 PagesAmazon.com and its visionary Jeff Bezos, the company financials outcomes over the years, the risk or uncertainty in its, government regulations that affect Amazon’s processes. The efforts used in the production function of the company, the innovation strategies and challenges in safeguarding these ideas along with the new technology tactics that Amazon has introduced into the markets, the increase or decrease of its product prices over time and the reason for the fluctuation. A brief analysis of the company’sRead MoreThe Focus Of This Assignment Is To Understand Accounting1070 Words   |  5 Pagesverifying, summarizing, interpreting and communicating financial information. Accounting reveals profit or loss, and the value and nature of a firm s assets, liabilities and owners equity at a given period of time. There are two methods of accounting, accruals accounting and cash accounting. Cash accounting reports income and expenses in the year they are received and paid. Accruals accounting reports income and expenses in the year they are earned and incurred. Accounting activities are carriedRead MoreAmazon in the Year 2000918 Words   |  4 PagesBowen March 14th, 2011 Long Term Viability of Amazon Amazon had a significant vision in terms of its long-term viability. This vision consisted of many strategies that allowed them to operate efficiently and effectively. Amazon primarily raised profits by the means of developing strong brand equity on a global scale, developing direct relationship with wholesalers allowing them to reduce inventory shipping/holding costs supported by an excellent logistic system, which permitted them to deliver anyRead MoreTesco PLC: A Business Overview1473 Words   |  6 Pageswas founded by john Edward cohen in 1924. Tesco has been leading the UK market over the decade with continuous growth in profit and sales. In 2011 Tesco Plc achieved 5.5% higher sales than 2010. In 2011 Tesco achieved  £ 44.6 billion sales and  £ 2.5 billion trading profit in UK market. The sales growth of Tesco for UK market is 9.5%, 4.2% and 5.5% in 2009, 2010 and 2011 consecutively. The growth rate for trading profit is 4.1%, 8.9% and 11.3% in these 3 years. Capital providers are enjoying this superRead MoreExamples of Planning, Organizing, Leading, and Controlling711 Words   |  3 PagesPart One: Planning FedEx (2011) Behind the scenes look at FedEx distribution and sorting process in Memphis. (3:20) BMWs Aging Assembly Line Runs Like New (2010) Richard Roth reports on BMWs work force that is not only getting older but is also getting better with a little help from some innovative footwear. (4:20) Donuts To Dollars (2009) Segment covers the expansion of Tim Hortons to the U.S. market and the challenges of a Canadian company entering the market with a focus on the competitionRead MoreLadbrokes Business Model1607 Words   |  7 Pagesshops and casino games. Their turnover in 2009 was estimated at over  £1032.2 million, and remains today one of the market leaders for gambling services in the UK. Ladbrokes focus mainly on online and in-store sports betting. They operate odds on over 30 sports, along with many other entertainment sectors such as reality TV show betting and tailored bets (e.g. dates of death, due dates for babies etc). In 2009, this accounted for over  £656.7 million in the UK market alone and is the largest sourceRead MoreMarketing Plan For Amazon s Marketing Strategy1636 Words   |  7 Pagessuccessfully create and present a marketing campaign for Amazon. According to Amazon (n.d.), most people do not realize that Amazon, one of the world’s leading online retailers, was founded 20 years ago in 1994. Most people believe that Amazon had success since day one, but in fact the company has overcome many bumps in the road to reach the success it is at now. In the beginning, Amazon focused on selling books, but now the company sells a wide range of products from food to electronics. This paper willRead MoreCadbury Pestle Essay719 Words   |  3 PagesWhat are Cadbury nestle ? (slide one) Pestle/external analysis of the nestle and Cadbury (definition of a pestle from book) Political * Taxes could increase which in theory would lead to sales decreasing and profit therefore decreasing but as chocolate is such a small purchase this is unlikely * Government are always pushing for a healthier Briton as obesity is a massive cost on the NHS this would theoretically drive down sales * Food labelling and international trade laws theseRead MoreEnvironmental Factors and Marketing1323 Words   |  6 Pagesmaking marketing decisions. Introduction Wal-Mart operates over 6,100 stores worldwide, employs 1.8 million associates, and operates in 15 different countries (Annual Report, 2006, p. 12). Lee Scott, Chairman and CEO stated, Today, we find ourselves operating 2,285 international stores, buying products from 70 countries, and doing 20% of our business abroad. Wal-Mart s marketplace is clearly the world (Annual Report, 2006, p. 13). Wal-Mart stores are primarily service providers that

Marketing Management and Communication- myassignmenthelp.com

Question: Discuss about theMarketing Management and Digital Communication. Answer: Introduction Hublot is a luxury group of watchmakers, which was founded in the year 1980 by an Italian named Carlo Crocco. The company operates presently under a company called LVMH of France, which is a wholly owned subsidiary. The company in its initial years took three years in making the strap of the watch and made its debut in the Basel Watch Fair in the year 1980 and turned out to be a commercial success, as the sales were made in excess of $2 million within the first year (Raffaelli, 2014). The company launched its Big Bang chronograph series of watches in the year 2005 after the company had a new Chief Executive Officer (CEO) in 2004 named Jean-Claude Biver. The Big Bang series of watches was a huge success and the number of orders had increased within the first month. The watch received the 2005 Design Prize, the Geneva Watchmaking Grand Prix and other prizes as well from all over the globe (Bastian et al., 2016). Description of the watch The outer casing of the watch is 45 mm and the case is blue sapphire crystal, which is polished perfectly. The bezel of the watch also has a blue sapphire crystal with titanium screws, which are shaped as 6 H. The inner case of the watch has an anti-reflective treatment for the crystal and the dial consists of a polished and Smoked Transparent Composite Resin Skeleton along with a Blue Luminescence. The hands of the watch are finished with satin products and have a blue luminescence as well. the strap of the watch is known as the blue transparent lined straps that are structured in nature and the clasp has a titanium deployant buckle (Bashutkina, 2016). The inner working of the watch is that it has a chronograph that is self winding along with a flyback movement and column wheel. The battery can reserve its power up to 72 hours and can resist water up to 50m or 5ATM. The watch has been limited to a hundred pieces, as it targets only the higher classes of people in the society. The company tries to attract the affluent sections of people within the society so that they can afford to buy the watch and appreciate the effort that has been put in to it by the workers. It is seen that recently the demand for watches has increased to a great extent all over the world, which has helped the company in increasing its sales. The company has launched a new store in Sydney in the year 2017, as the trend of wearing luxury watches in the Australian market has increased by 17 percent. The overall increase in wearing electronic gadgets has also seen a rise of 41 percent in the financial year of 2016-17 (Sicard, 2013). Mission The mission of the company is to create the product by combining the art of fusion. This helps the company in creating the products based on current issues so that the customers can be aware of the problems. SWOT analysis Strengths The company has developed an innovative material for its products, which can resist the scratches. The material has been named as Magic gold, which has become popular on a global level. The company has more than 40 boutiques on a global scale, which has helped them in increasing the sale of its products. The company has benefitted mostly through its association with the parent company, which is a well renowned industry with respect to luxury goods. The company is known for the fusion that they create with different types of materials along with the use of precious materials in a traditional manner. The company has also been associated with major football events and was the official timekeeper of the games (Pinkhasov Nair, 2014). Weaknesses The presence of the company is not that strong when it is compared to the other watch companies that are present in different countries. Another main weakness of the company is that it does not uses extensive strategies for advertising when compared to other experts of the watch making industry (Pla, Pelletier Bertrand, 2014). Opportunities The company has tried to increase its number of stores from 2011 onwards, which has helped the customers by providing them a better and wider reach. The category of luxury watches is becoming vastly popular in the markets, as it is appealing to the customers of the developing markets in a better manner. Threats The number of fake watches bearing the same identity of the logo of the company has surrounded the market and they sell at a cheaper rate. The other luxury brands of watches offer stiff competition to Hublot due to its increased reach among the customers through better advertisements, which has helped in attracting the customers towards it and decreased the sales of Hublot (Pinkhasov Nair, 2014). Competitor analysis The Australian market consists of many exotic watch companies, which provides tough competition to Hublot. The companies such as Zenith, Rolex and Tissot have a very good presence in the market due to the use of extensive advertising campaigns, which has helped in attracting majority of the customers. The rival companies are very active on the social media platforms, which helps them in attracting the customers for increasing the sales of their products (Donze, 2014). Marketing objectives The primary marketing objectives that the company can adopt in the Australian market are as follows: Simple he company needs to set its objectives in a simple manner so that it can be achieved in an easy manner. The objectives have to be set in a manner, which will help in associating the audience with the brand. This will help in selling the product in a better manner, as the customers can understand the value and the need of the watches. The interest among the customers will rise once they can understand the aim that the company wants to set in the market. The company tries to innovate the products in a better manner so that it can provide the customers with a new type of product, which are not similar to the previous models (Bello, 2016). Measurable The company has to study the market in a better manner so that it can understand the trend that is being followed in the market, which will help in selling off the product in a better manner. The use of the sales metric system will help the company in gaining a better understanding about the figures of sale that the company may try to achieve in the market. This will help the company in providing a detailed report to the stakeholders so that the information can be communicated in an efficient manner within the company (Ostapenko, 2016). Attainable The company needs to establish a better distribution system so that the product can be marketed in a better way within the Australian market. The distribution system needs to be efficient so that the product can be available in the retail store of the company along with the online system so that the customers can avail both the options in purchasing the product. The watches that are provided by the company follow the trend that is present in the culture of the consumers within the Australian market. The products made by the company help the customers in developing a better taste with respect to fashion in the wristwatch category. This will help the company in increasing their sales within the market (Donze, 2014). Relevance The setting of the objective, which is of high standard, will help the company in growing in a better manner, as the company will invest a large number of resources. The amount that will be invested by the company will help them in marketing the product and distribute it accordingly within the Australian market. Time The objectives that has been set by the company needs to be achieved within the first six months so that it can create the maximum impact on the customers. This will help the company in attracting the customers towards themselves at a faster rate so that the rival companies cannot take the opportunity by providing the customers with an advantage (Sicard, 2013). Financial objectives Profit maximization objective This objective helps in growing the interest of the owners towards the retail store, which results in taking better decisions. The competition that takes place within the market helps the company in maximizing its profits by applying the various economic theories. The revenues and costs have to be calculated in a better manner so that it can help in maximizing the profit of the company. This objective will help the company in making profits within a shorter span of time (Theurillat Donze, 2017). Wealth maximization This objective will help the company in maximizing its wealth with the action that will be taken up by the senior management. The action will be based on the difference of the present value of the company in the market and the cost of value of the company. The actions that will be taken up will help the company in increasing its wealth. This objective will help the company in ensuring its survival within the market and help in the growth of the company as well. The risk of the company can be calculated in a better manner so that it can be avoided on a prior basis, which will help the company in the long run (Semens, 2016). Sales maximization The growth of the company will also depend on the marketing and sales that the company will do so that it can attract the customers. The revenue from the sales will benefit the company, as the share of the company in the market will increase that will create a positive impact on the status of the company in the Australian market. The increase in the sales of the company will help the company in earning better revenues, which will help the company in gaining some prestige in the market within the first six months (Theurillat Donze, 2017). Marketing mix strategy Product The product that will be offered by Hublot is a watch known as Big Bang Blue, which is a limited edition watch manufactured by the company. The product will be available for only a few customers, as only hundred pieces will be made for the market. Thus, it will increase the demand among the potential customers who have developed an interest in luxury watches (Sicard, 2013). Place The company has opened its retail outlet in Sydney, which is one of the marketing hubs in Australia. The presence of affluent people and a better demographic structure in the place will help in attracting the customers towards the brand. Sydney is one of the major commercial centres in Australia, as there are many multinational corporations that are operating in that place. This will help the company in selling the product in a better manner (Semens, 2016). Price The price of the product is high, as it will appeal only to the affluent section of the people in the society. The product will have a limited supply in the market and belongs to the category of luxury watches, which has an influence on the price of the product. The price will be competitive with the rival companies such as Rolex and Tissot so that it can help in attracting the customers (Bochenek Blili, 2014). Promotion The company will promote its product by using the social media platforms in an efficient manner so that it can help in grabbing the attention of the customers. The advertisements will be present in Facebook and Twitter, as most of the younger generation for whom the product is manufactured are hooked on to these sites. This will help the company in spreading awareness about the product among the target customers (Tallent, 2014). Digital Marketing communication plan The company will promote its product extensively on the social media so that it can have a wider reach in the market and the customers can be aware of the product that is available in the market. The company has also sponsored many events in the Australian market such as the Golden Snipper, Racing events and the Autumn Carnival that is held in Sydney, which has ensured the awareness of the product within the customers. These have helped the company in associating on a close manner with the target customers so that the product can be sold in an easy manner (Schaffmeister, 2015). Action plan Plan 1st Month 2nd Month 3rd Month 4th Month 5th Month 6th Month SMART Specific Measurable Attainable Relevance Time Financial objective Profit Wealth Sales (Source: Created by Author) Reference List Bashutkina, M. (2016, July). Building strong luxury brand in Swiss Watchmaking industry. In2016 Global Marketing Conference at Hong Kong(pp. 426-435). Bastian, M., O'shea, T., Solur, S. V., Spate, B. (2016).U.S. Patent No. D756,244. Washington, DC: U.S. Patent and Trademark Office. Bello, O. O. (2016).Sponsorship in Sports: Types, Classification and Importance to Sports Organizations(Master's thesis, Eastern Mediterranean University (EMU)-Do?u Akdeniz niversitesi (DA)). Bochenek, L. M., Blili, S. (2014). Social media championsDrivers and sophistication process of social media strategic management. InSocial media in strategic management(pp. 143-167). Emerald Group Publishing Limited. Donz, P. Y. (2014). Omegas Choice. InA Business History of the Swatch Group(pp. 92-101). Palgrave Macmillan UK. Donz, P. Y. (2014). The Swatch Groups Competitors. InA Business History of the Swatch Group(pp. 112-129). Palgrave Macmillan UK. Ostapenko, N. (2016). The Expansion of a Niche Luxury Watchmaker: Sj Sandstrm in Europe.The Journal of Applied Business and Economics,18(4), 92. Pinkhasov, M., Nair, R. J. (2014). The strengths and weaknesses of luxury. InReal Luxury(pp. 28-55). Palgrave Macmillan UK. Plan, G. C., Pelletier, L., Bertrand, D. (2014). be bold be daring be different. Raffaelli, R. (2014). Jean-Claude Biver (A): The Reemergence of the Swiss Watch Industry. Schaffmeister, N. (2015). Brand building and marketing in key emerging markets.Cham: Springer. Semens, A. (2016). Football Sponsorship.Routledge Handbook of Football Studies. Sicard, M. (2013).Luxury, Lies and Marketing: Shattering the Illusions of the Luxury Brand. Springer. Sicard, M. (2013).Luxury, Lies and Marketing: Shattering the Illusions of the Luxury Brand. Springer. Tallent, G. (2014, July). The Social Media Canvas and Its Use in Strategy Formulation. InEuropean Conference on Social Media. Theurillat, T., Donz, P. Y. (2017). Retail networks and real estate: the case of Swiss luxury watches in China and Southeast Asia.The International Review of Retail, Distribution and Consumer Research,27(2), 126-145.