3M Greptile Glof Glove Marketing Strategy Strengths and Weaknesses

Strengths 

3M Company has a strong sense of innovation and research and development technology, which it has incorporated into the production of its glove. This technology provides greater functional benefits as opposed to the traditional benefit of comfortable fit. It is perceived as a product as value for money as it improves a golfer’s game and is durable. Furthermore it is priced affordably and reasonably. 

Weaknesses 

However, as 3M is not known for products in the golf industry, it lacks consumer product and brand awareness. This increases the risk of successfully selling the product to potential consumers. In addition, there are not much promotions for the and 3M targets more towards those who are avid or professional golf players, leaving out the factor that golf is fun and a recreational sport as well... Read more>>

3M Marketing Mix Variables (4Ps) for the Greptile Golf Glove

1) Products

Points of Difference
The proprietary micro-replication technology used in the Greptile™ golf glove contains griping fingers to maintain consistency in gripping while using minimum effort. It is designed for both wet and dry conditions. According to golf editors, 3M’s micro-replication technology provided a much-needed innovation in the golf glove industry. Prior to the Greptile glove’s introduction, most gloves focussed on comfort rather than on improving the golfer’s game.

The materials used ensure durability and provides value for money. 3M has developed specific materials that focus on different aspects of durability. As evidenced in their website, the four different varieties of durability are contained in materials such as the G100, G200. G300 and G400, which each contain specific functions.

Product Life Cycle  

The product life cycle of the 3M Greptile™ golf glove is has moved from the introductory stage and is  ...Read more>>

Industry Analysis for 3M Greptile Golf Glove

The golf industry is a growing one, with a worth of approximately $300 million worldwide, with $160 million in America alone (Kerin et.al 2006). In recent times, golf has become an increasingly popular: a sport that is played for various purposes (e.g. recreational, professional, and business).

According to ‘Golf Digest’ (2005), there are approximately 32,000 golf courses in the world. In addition, The Golf Research Group (2006) reports that there has been an increase of about 7,000 new courses since 2005, with courses in 119 countries: there are about 56 million golfers in the United States of America, who constitute 59% of the golf market worldwide.

As a result, the increased number of golf courses and people who play golf has contributed to the flourishing international trade in golf goods worth about $2 billion per annum (The Golf Research Group, 2006). This growing trend has led to the increase of golf related industries like golf clubs, gloves, shoes, and even tourism in the form of specialized golf vacation packages and the development of... Read more>>

Are Leaders Born or Made?

Throughout history, there has been, and still is an ongoing debate on whether leaders are born or made. It has been an age-old question that has been on the minds of many. So are leaders born or made? I believe that it takes both, more so of being born with certain qualities and nurturing those qualities that makes effective leaders, rather than just nurturing alone.

According to Gary Johns et al (2005) and Robbins, S et al. (2006), leadership, in an organizational context, is defined as the ability to exert influence on others to achieve (organizational) goals: leaders are people, who not only able to influence others towards (organizational) goals, but also have managerial authority. Furthermore, S.A Kirkpartrick and E.A Locke (1991) state that leaders are intelligent individuals who are initiative, energetic, ambitious, and willing to take on responsibility. Therefore, a (effective) leader is someone who is able to inspire (influence) others (e.g. taking charge or command), a figurehead whom others look up to, and is able to lead people towards certain goals.... Read more>>

Wave House: Surfing Made Possible in Sentosa (Singapore)

Singapore has always been known for its food and shopping. However, If you are a beach enthusiast, or if you are just looking for something more than just shopping and eating, head down to the Wave House located Siloso beach on Sentosa island – a resort-styled island off the southern shores of Singapore and popular destination for locals and tourists alike.

Wave House Sentosa, according to its website, is the fourth such installation of Wave Houses around the world. It takes about10- 15 minutes to walk from the rail station to Wave House Sentosa, which is located along Siloso beach. The Wave House offers two rides, the FlowRider and the FlowBarrel.

FlowRider
Compared to the FlowBarrel, the FlowRider is the more basic ride, and recommended for beginners. With 30,000 gallons of water gushing out per minute at a speed of 20 mph (32 kmph) over a plastic surface, it generates a thin, fast-moving sheet of water; resulting in a safe, non-curling, endless wave.

Riders have the option of using body boards or flowboards. Beginners will learn to balance and stand, while those who have mastered their balancing will learn how to slide down and ride the wave (e.g. carve turns).


FlowBarrrel
The FlowBarrel on the other hand, would be the more challenging of the two: with 100,000 gallons of water per minute gushing out at 30 mph (48 kmph), it creates a curl over the surface which looks like a section of a skateboard park. The speed at which the water gushes out, results in a perfect, endless tubing six-foot wave that has the power and challenge akin to the waves along the reefs of Indonesia...Read more >>

What is a Team?

Consisting of more than two individuals, Robbins and Judge (2007) describe a team as a group of interdependent individuals with special skills and/or knowledge, who have gathered together to achieve specific objectives; interaction is necessary and encourages “positive synergy through coordinated effort” (Robbins & Judge 2007, p299).

For example, 3 people (e.g. Lawyer, Programmer, Accountant) work together as a team producing high quality (computer/system) programs for an organization specializing in tax accounting. The programs produced require a high level of programming skills and aptitude to comprehend the law, with new laws and interpretation of existing laws have to be integrated quickly (and flawlessly) into the existing regulations and analysis tools. Each individual is equipped with the necessary (complimentary) skills and knowledge to integrate, as well as interpret new laws into the organization’s existing programs’ efficiently and effectively. Due to their education background and working experiences, each team member is able to contribute an area of expertise (law, accounting and programming); integrating desired objectives seamlessly and effectively through coordinated effort...Read more>>

5 Types of Secondary Data

In marketing research, there are two types of data: primary and secondary. Primary data is data that has to be collected and analyzed from scratch, while secondary data refers to data that already exists and was gathered for purposes other than current research project. It is increasingly used to examine a wide variety of marketing and business problems because of the relative speed and cost-effectiveness of obtaining the data. Below are 5 types of secondary data that a company that can collect to help it decide whether it should go into a new catering business (Hair et. al, 2009):

1. Sales data - Sales Activity Reports (Internal)
These reports contain data on sales, competition, territory activities, and changes in the market place (if it is competitor intelligence, it is not considered internal data) , enabling the company to identify potential target markets, sales trends and competition. With this data, the company would be able to forecast future sales trends and revenues for its catering business. For example, the daily sales activity report would provide the company with insight: the monitoring and identifying of sales frequency (i.e. cyclical nature of the sales – sale increase during festive seasons) would enable the company to formulate its marketing strategy appropriately (i.e. set promotions and pricing), or translate the data for other expenses (i.e. price promotions may boost sales volume but does not generate profit)...more >>

Environment Analysis of 3M Greptile Golf Glove

Economic conditions and trends:

Between 1999 and 2004 household income stagnated showing a slight increase since 2004. While personal income has remained relatively stagnant since over the past few decades, household income has risen due to the rising percentage of households with two or more income earners. The rising of household income has brought opportunities to companies that they might spend their extra income to wants. The increasing dual income family might rise the demand for business women who also demand golf as their sport

As golf gloves are not considered as necessities, the rise of income (affluence) may affect the sales of golf gloves. Since 2004 household income has shown a slight increase. Thus it may trigger people to spend their extra income on satisfying their wants. This was an opportunities for 3m firm to launch and promote the Greptile golf glove as those golfers might look after products that can satisfy their hobbies or recreation on golf... more>>

Main Issues Facing Singapore Telecom

After its privatization (from a government department to one of the largest listed firm in Singapore), the main issues facing Singapore Telecom would be trying to maintain its exceptional record of profitability and retain as much market share after the introduction of competition (e.g. M1 and StarHub). Singapore Telecom would have to achieve this in the midst of fast paced advancements in technology, maturing customer tastes and a turbulent business environment.

The Asian financial crisis created a difficult business environment for Singapore Telecom; it became a challenge to maintain its exceptional record of profitability. This can be seen from the financial performance, with the net profit growth declining by 8.1% (from 1998 to 1999) from 11.8% (1998) to 3.7% (1999).

In addition, competition in the domestic market (Singapore) was intense with the introduction of M1 (MobileOne) in 1997. This is evidenced by a drastic drop in turnover growth of 6% in 1997 from 13.7% the year before (1996). The introduction of M1 (competition) coupled with the onset of the Asian financial crisis during 1997, affected Singapore Telecom’s market share and profitability. Singapore Telecom’s market share was eroded by M1’s introduction; M1 gained 32% of the market hare within 2 years of its introduction...Read more>>

Internal Analysis of Singapore Telecom

The core competencies of Singapore Telecom are its capability in advanced (and continuing improving) innovative information technology (IT) infrastructure and systems, and value-added services. Singapore Telecom’s telecommunications infrastructure was ranked 1st in a survey out of 10 Southeast Asian countries in 1997.

Having out-of-date (older) technology would place Singapore Telecom at a disadvantage with competitors (domestically and globally) that have more effective telecommunications technology: investment in IT and value-added services has given Singapore Telecom a sustainable competitive advantage. These core competences are valuable (i.e. Singapore Telecom is able to leverage on their expertise and IT based solutions and services), and difficult to imitate (i.e. domestically in Singapore, not many telecommunications companies are able to afford their own satellite).

Additionally, due to its advanced (and continually improving) innovative IT infrastructure and systems, and value-added services, Singapore Telecom is able to renew, augment, and adapt these core competencies to give it a sustainable competitive advantage (e.g. compelling marketing position and brand differentiation). Singapore Telecom had high teledensity, high-quality fixed-lined services, higher demand for specialized features, lower vulnerability to credit risks and falling tariffs...Read more>>

External Analysis of Singapore Telecom

Amidst the rapid technological advancements (and convergence), globalization, maturing customer tastes, and periods of economic instability, the prognosis for further development and finding new growth areas for Singapore Telecom is optimistic (prosperous). However, Singapore Telecom would have to be able to continuously renew and augment its products and services to adapt to the fast-paced technological environment in periods of economic instability, and maturing customer tastes; having to look beyond its current offerings and continually improve. Below are the opportunities and threats that have been identified using the PESTL model:

1. Economic
The Asian financial crisis took its toll on Singapore Telecom’s performance as the economy was affected (e.g. large-scale retrenchments or considerable salary reduction).

Threats:
This soon led to customers turning to cheaper alternatives (i.e. Internet telephony), or cheaper substitutes offered by competitors (i.e. cheaper price plans); their tastes matured - wanting value for money services. For example, Internet telephony allowed customers customization of services – being able to choose the level of service they wanted and charged accordingly. It also enabled the provision of several value added services for customers such as real-time billing, cheaper video conferencing, and unified messaging.

From the financial performance provided in the case study, Singapore Telecom was doing fairly well in F/Y 1996, before the 1997 Asian financial crisis, with a turnover growth of 13.7%. However, during the Asian financial crisis, for the period 1998 to 1999, group revenue fell by 1.2%, and operation profits fell by 10.5%, while operating expenses increased by 6%...Read more>>

Singtel Business-level Strategy

Based on competing in the Singapore market, Singapore Telecom should focus on how to maintain its exceptional record of profitability and retain (and regain) as much market share. As Singapore Telecom serves a broad customer (market) base (i.e. residential, small and medium enterprises, and large enterprises), integrated cost leadership/differentiation strategy should be used.

By implementing a cost leadership/differentiation strategy , Singapore Telecom would efficiently produce products/services with differentiated (unique-value) attributes, while being able to maintain cost at the same time. The company would be able to provide new streams of revenue to meet maturing customer demands, and allow its products and services to be perceived differently from those of competitors (M1 and StarHub), an opportunity to gain loyalty from customers. In addition, cost leadership/differentiation strategy would permit the company to sell its products and services either at average industry prices to earn a higher profit than competitors (rivals), or below the industry prices to gain market share. M1 and Starhub do not yet have the wide range of products and services that Singtel offers to the market... Read more>>

External Analysis of AirAsia

Industry Analysis

An industry analysis was performed to assess the budget airline industry.

1. Bargaining Power of Supplier
Overall, power of supplier is high as there are limited (availability of) suppliers (only Boeing and Airbus), the switching cost is high (i.e. airplanes and their maintenance are costly), and there are few substitutes for airplanes (i.e. air travel covers longer distances in a shorter period of time).

2. Bargaining Power of Buyer
As there are almost no switching costs for customers switching from one budget airline to another, the bargaining power of buyer is moderate...Read more>>

Can AirAsia Sustain Its Success?

Based on the external analysis, demand for budget airlines is expected to grow rapidly, attracting more competition and increasing the degree of rivalry. The attractiveness and profitability will attract many full-service airlines to launch their own budget airlines.

Due the Southeast Asian region having the lowest rate of air travel per capita among the other regions indicates a strong potential for growth. As low prices alone cannot sustain AirAsia, it has to maximize its operational efficiency to maintain its competitive advantage (i.e. being the leader in budget airlines) in the advent of... Read more>>

Strategic Actions Adopted by AirAsia

With cost leadership, a set of actions are integrated to produce goods/services with features that are acceptable to customers at the lowest cost, relative to that of competitors. Although AirAsia’s business strategy is centered on cost leadership, it targets specific markets (i.e. price sensitive customers needing short-haul fights), selling its product/services below the average industry prices to gain market share. Hence, it can be categorized into focused cost leadership. AirAsia modified the low-cost airline model and adopted the following strategic actions to lower their costs rel...Read more>>>

Strengths and Weaknesses of AirAsia

The following are strengths and weaknesses of AirAsia:

1. Low Cost Model: Low cost operations and fixed costs
Strengths
Focusing on providing air travel without frills at substantially lower prices, AirAsia has managed to achieve lower prices to attain high passenger loads, market share, and profitability by eliminating provision of costly in-flight services, flying a standard fleet, selling tickets to passengers directly, and minimizing labor, facilities and overhead costs (i.e. passengers are not allocated seats, and do not receive meals, entertainment, amenities, or access to airport lounges).

Its successful negotiations for its low aircraft lease rates, low long-term maintenance contracts rates, and low airport fees, enabled AirAsia to provide the lowest fares. As a result, AirAsia was able to reduce its overheads and investments in equipments substantially in the absence of fringe services. Exhibit 4 shows that AirAsia has the lowest operating cost (29), compared with 29 other competitors (with Air France being the highest at 184).

Moreover, AirAsia’s aircraft maintenance contract costs were reported to be substantially lower than other airlines (i.e. contractual lease charge per aircraft decreased by more than 60% from 2001 to 2004), adding to AirAsia’s competitive advantage, which was further compounded by its young fleet...Read more>>