Lancer Gallery (LLC) is a company that sells and sources South American and African artifacts, jewelry and pottery. Lancer Gallery originated as a trading post in the early 1900s and now one of the most reputed dealers in southwestern artifacts. Lancer is headquartered in Phoenix, Arizona with branches in Los Angeles, Boston and Miami. In Recent years Lancer has started to expand its product line to include
1) Columbian artifacts from Peru and Venezuela.
2) Tribal and Burial artifacts from Africa.
Finally, Lancer is doing great financially with gross sales of $35 million with an increase of 20% per year in the last decade.
Lancer Gallery has established itself as a reputed company, but is currently in a dilemma. A mass merchandise department
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This conflicts with the image that Lancer has built over the years, a brand that has limited distribution. This will hurt their image and also bring a change in their price structure. The current distributors and customers may also be upset with this decision. If I were to be in Andrew Smythe‘s (Director) position I would reject the contract mainly because, I want Lancer to be known for its Authentic Artifacts rather than to be known as a Replica production company. Lancer Gallery luckily has strong attributes and hence needs to focus on how to overcome this challenge and make the required changes in order to increase the gross profits. Let’s have a look at the positives that will help us to get back at the …show more content…
Usage of Social Media: To begin with, Marketing Head should make use of social media (Facebook, Twitter) and news channels to showcase the Lancer products on a wider scale. Also Lancer should use innovative marketing strategies like link their products with popular products of different countries.
✓ Long-Term Contracts: Lancer has long term contracts with many craftsmen in Central, South and Southwestern America and in Africa. Now here is an opportunity to broaden their base in these countries by arranging meetings with these craftsmen on how to spread awareness regarding the Lancer products.
✓ Worldwide Survey: Lancer should conduct a worldwide survey to get an idea as to where we can market our products since a lot of awareness activities have already been done.
✓ Study Customer Patterns: Lancer Gallery can get to know the customer patterns and the various countries interested in their products based on the results of the survey. The marketing team needs to step in again and arrange meetings with the respective country representatives and talk about the
In 2012 alone, Lego increased its revenue by 25%, nearly tripling their sales in 2007 (Trangbaek). Knudstorp has done an exceptional job in progressing Lego through their darkest of days to a new era filled with success. Lego has managed to do what few companies have and despite its many challenges, they have achieved success and continue to serve as a beacon of light to other companies that are facing similar defeat. I am curious to see the future of Lego and intrigued to see their continued growth in the world.
Timmerman, Kelsey. "A Consumer Goes Global." Where Am I Wearing?: A Global Tour to the Countries,
Lancer Gallery is a limited liability company that sources and sells a wide variety of South American and African artifacts. The firm’s headquarters are located in Phoenix, Arizona and they also have branch offices in Los Angeles, Miami, and Boston. Lancer Gallery originated as a trading post operation near Tucson, Arizona in the early 1900’s. Through a series of judicious decisions the company established itself as one of the more reputable dealers in authentic southwestern jewelry and pottery. The main problem in this case is should Lancer Gallery’s top management accept or decline a contract that could potentially re-position their brand and definition of business.
Mr. P has a history of DUI’s in his past, which thereby warranted his current arrest. He was pleasant and cooperative during his arrest and was taken into custody without incident. He then was released the next day and was given a court date. Mr. P obtained legal defense and faced the judge with fear of being incarcerated, but was confident that he had a defensible case. The judge thought otherwise, and imposed a harsh sentence of 90-day substance abuse treatment at a correctional facility. Yet, Mr. P was defensive when confronted about his alcohol use and denies that that his drinking and driving is a concern. Furthermore, he rejects this behavior as being harmful to his work environment, other than if he were incarcerated he may lose employment.
Market research provides information to help unravel marketing obstacles that businesses face in today’s business climate, an essential part of the business planning process. As shown in the example certain strategies such as segmentation or differentiation are almost unattainable without relevant market research.
The interesting part of this industry is the fact that there is no company with a dominant market share. Even though some revenue numbers might be higher for some companies, each company has a specialty that it brings to the industry. One of the main costs is manufacturing their products. A major reason the companies are moving manufacturing plants to Asia and South America is to lower manufacturing costs.
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Through market research the organization can obtain information needed to make reasonable estimates about what consumers will or won’t buy. The objective when research is performed is to reach a deep understanding
Marketing through Social Media (Exploratory Essay) Throughout the ages there have been many intriguing ways that businesses have portrayed their product or services for accessibility. Recently, businesses have been researching how to market the businesses product through the World Wide Web. With websites such as Facebook, Twitter, Instagram, it started becoming popular within the past 20 Years. People have started to rely heavily on the internet over the past decade, whether it be for searching for information on products or people.
The main objective of this report is to develop and provide a sales and marketing plan for which the company will help to generate more profit and acquire more customers to patronize the product. This report will cover the period of 2016 to 2017 which will serve as guidelines that needs to follow of the employees, managers and management team to reach the desired goals and target for the company.
The main aim of this discussion is to discuss the main aspects that are very important in planning and implementing the activities of marketing in the global context. Once all the issues have been addressed, the organisation then needs to plan out the global marketing strategy. Marketing research is the core area of marketing, as the entire marketing strategies depends on how well the organization has conducted the research of the market. Mar...
· Use of social media for promotion- word of mouth and social media help to get the message across and promote the product efficiently
a company can familiarize itself with cultural nuances which may impact the design, packaging or advertising of the product. Moreover, traveling abroad allows one to locate and cultivate new customers, as well as improve relationships and communication with current foreign representatives and associates
As in Indonesia, this social media marketing phenomenon has been growing rapidly in these past few years. Social networks are an indelible element of the online world in Indonesia and a reflection of the social nature of the country’s culture. With cheap smart phones and affordable internet, it is becoming easier to access Internet. Therefore, social media marketing has also become popular among Indonesian companies.
The first advantage of using social media in business is increasing brand awareness. Social media can help business to build their brand awareness by increasing interactions with a business brand. Brand awareness means the total percent of a target people who know the company exists and what the company offers of products or services. When the brand awareness is increased, the possibility of buying is increased. Thus, efforts should be made to make the brand a part of the consciousness of customers. For example, Coca- Cola is one of the best companies that enjoy unusual...