The Cheesecake Factory Marketing Plan Research Paper

The Cheesecake Factory Marketing Plan - Research Paper Example This essay discusses that the Cheesecake Factory is one of the successful American stories. The company has bagged some awards like the 2010 Zagat award for best dessert and best salads, 2010 Halo gold award for the best cause marketing event, etc. The Cheesecake Factory is planning to expand its business over the next five years in around five countries such as United Arab Emirates, Bahrain, Kuwait, the Kingdom of Saudi Arabia and Qatar in the Middle East and North Africa, Europe, Russia, and Turkey. The country where the Cheesecake Factory can trade in is Europe. Europe market is expected to grow at an annual growth rate of 0.37% in 2008-2011. The top companies are expected to supply at a rate of 23%. The largest market is Germany with a total share of 25%. The company deals in with bakery products. They produce good quality of cheesecakes and involve a lot of innovation in their products. The new product to be launched is the ‘Green Tea Cheesecake’. The company target market is people who love to have bakery products, dessert. The environment of the hotel is such which makes customers love the place and its offerings. It s target audience is consumers right from a kid to elders people. The US has always experienced a deficit in the bakery products. Its trade deficit was large with Canada and Europe. The condition improved in 2002 where the import value stood at $685 million. Since then the US market has been growing in terms of bakery products. Since the trade condition has improved, the company can take advantage and expand its business in countries where the trade conditions has improved. The company has been dealing in bakery products, and is planning to expand in other countries. The best option would be to expand in Europe. The company is a sole proprietary. It started of its business in the year 1978 and till date it has been among the top most company. The factory was started by Oscar and Evelyn Overton and eventually it was handed by their son David. David founded The Cheesecake Factory restaurant in Beverly Hills, California. Marketing Plan The European market produces 25millions of bread each year with the industrial plant share of 8 million tons. The craft bakers represent the bread production for about 48% of the total volume. The plant bakeries have a market share of 75% to 80% of market share. The fastest growing sector is the in store bakeries, as the retail market is booming and the retailers gain a market share (The Federation of Bakers, 2007). The retail bakery market in Europe was estimated to be 65.5 billion by 2000. There has been a variation in the European countries. In states like Italy and Sweden, the market grew from 12% to 17% in 2000. But in large markets like France and Germany, it grew only by 4% and 3% respectively. The per capita consumption in Europe is generally high as compared to other countries (Payne, 2003, p.25). There has been a good trend of bakery market in Europe. Thus the Cheesecake Factory would be able to adopt itself in the European market. The market has a good opportunity and the potential to grow is also high in the market. The industry is of bakery product, therefore there is no barrier to enter and exit. The European market is an open market. The barriers for entry are low. The European

Managing business finance Essay Example | Topics and Well Written Essays - 1750 words

Managing business finance - Essay Example In a Collateralized Loan Obligation, an investor is entitled to receive periodic debt payments as interests from the underlying loans and at the same time assume the major part of the risks related to the underlying loans in the event of the default of loans. The Collateralized Loan Obligations offers higher benefits and opportunities for the investors by creating the scopes for greater diversity and the chances of returns which are higher than the average returns from other securities. Banks sell these securities with slices and tranches which reflect varied levels of seniority in respect of matching the risk versus rewards profiles of the loans. The following example can be used to understand the working of the Collateralized Loan Obligations. Assume that a corporation is willing to take a debt of USD 100 million to finance its business expansion process and that this corporation has assets which have a valuation of USD 20 million. The cost of debt for the loan is taken to be 5% per annum and the risk free rate of return is 1% per annum. The corporation issues a USD 100 million of debt structures which includes a top trance of USD 40 million and a bottom tranche of USD 60 million. The top tranche would be backed up by the assets of the company so that in the event of credit default, the investors can pay off the loan by selling off the assets to recover the investment. The interest rate in this case is 2.5% per annum. The bottom tranche of USD 60 million does not have any backing even in the event of credit default. For this case, the interest rate per annum would be 6%. For the Collateralized Loan Obligations, the rate of interest would be calculated as follows: This cost of debt is lower than the cost of debt calculated in average. Therefore, it is cost effective and attractive for investment purposes. The

Promotions A Communication Link Between Buyers And Sellers Marketing Essay

Promotions A Communication Link Between Buyers And Sellers Marketing Essay The term Promotion and Sales are totally interdependent on each other. Promotion is a communication link between buyers and sellers. It is a function of informing, persuading, and influencing a consumers purchase decision. Promotional activities include: media advertising, direct mail, personal selling, sales promotion and public relations. A sale consists of marketing activities other than personal selling, advertising and public relations that stimulate consumer purchasing and dealer effectiveness. Sales promotion is a subset of promotion. In other words, sales promotion is not the same thing as promotion. Promotion is a much broader term. The Promotional mix works like a subset of the marketing mix, with its product, distribution, promotion, and pricing elements. With the promotional mix, the marketers attempt to create an optimal blend of various elements to achieve promotional objectives. The promotional mix requires a carefully designed blend of variables to satisfy the needs of a companys customers and achieve organizational objectives. I. Personal Selling :- is the oldest form of promotion. It is conducted on a person-to-person basis with the buyer. It involves the search for new prospects and follow up service after the sale. It is mainly face to face presentation and promotions of goods and services. Its more accurately described today as helping others satisfy their wants and needs. This direct form of promotion may be conducted: Public Relations and Publicity:- Public relations refer to a firms communications and relationships with its various publics. These publics include customers, suppliers, stockholders, employees, the government, the general public, and the society in which the organization operates. It is the management function that evaluates public attitudes and procedures in response to public request. Publicity is the marketing-oriented aspect of public relations. It can be defined as non personal stimulation of demand for a good, service, person, cause, or organization through unpaid placement of significant news about it in a published medium or through a favorable presentation of it on the radio, television, or stage. Of course, bad publicity can damage a companys reputation and diminish brand equity. Advertising has gone through five major stages of development: domestic, export, international, multi-national, and global. For global advertisers, there are four, potentially competing, business objectives that must be balanced when developing worldwide advertising: building a brand while speaking with one voice, developing economies of scale in the creative process, maximizing local effectiveness of ads, and increasing the companys speed of implementation. Born from the evolutionary stages of global marketing are the three primary and fundamentally different approaches to the development of global advertising executions: exporting executions, producing local executions, and importing ideas that travel.[24] Advertising research is key to determining the success of an ad in any country or region. The ability to identify which elements and/or moments of an ad that contributes to its success is how economies of scale are maximized. Once one knows what works in an ad, that idea or ideas can be imported by any other market. Market research measures, such as Flow of Attention, Flow of Emotion and branding moments provide insight into what is working in an ad in any country or region because the measures are based on the visual, not verbal, elements of the ad. The first step is of prospecting. Prospecting involves researching potential buyers and choosing those most likely to buy. That selection process is called qualifying. To qualify people means to make sure that they have need for product, the authority to buy and the willingness to listen to a sales message. A person who meets these criteria is called a prospect. In this approach you must learn as much as possible about customers and their wants and needs. In this gathering the information before you approach the customer is critical. As we said an example of CRM selling you would know which people are likely to buy or use it. In this the main idea is to give an impression of friendly professionalism, to create rapport,, to build credibility, and to start a relationship. Often the decision of whether to use a software package depends on reliable service from the salesperson. In the actual presentation of the CRM software, the idea is to match the benefits of your value package to the clients needs. Various companies provide sales proposal software that include everything from power point presentations to competitive analysis. During the presentation is a great time to use testimonal to The selling process isnt over until the order is approved and the customers is happy. The sales relationship may continue for years as you respond to new request for information. Salesperson realy needs to be providers of solutions to their customers and also needs to think about happen after the sale. The follow up step includes handling customers complaints ,making sure the customers questions are answered and quickly supplying what the customers wants. Steps involved in setting up a public relations programme Public relations refer to a firms communications and relationships with its various publics. These publics include customers, suppliers, stockholders, employees, the government, the general public, and the society in which the organization operates. It is the management function that evaluates public attitudes and procedures in response to public request. Publicity is the marketing-oriented aspect of public relations. It can be defined as non personal stimulation of demand for a good, service, person, cause, or organization through unpaid placement of significant news about it in a published medium or through a favorable presentation of it on the radio, television, or stage. Of course, bad publicity can damage a companys reputation and diminish brand equity. Public Relations has three steps:- Listen to the public: Public relation start with good marketing research. Change Policies and procedures : Businesses dont earn understanding by bombarding the public with propaganda, they earn understanding by having programs and policies and practices in their public interest . Inform people that youre being responsive to their needs: Its not enough to simply have programs in the public interest. You have to tell the public about those programs so that they know youre being responsive Public relations has more power to influence consumers because the message comes from source that is perceived as being more trustworthy. Advantages of Publicity: Creates a positive attitude toward a product or company Enhances credibility of a product or company Disadvantages of Publicity: May not permit accurate measurement of effect on sales Involves much effort directed toward non-marketing-oriented goals 5.Promotional techniques used to reach customers There are several Promotional techniques that encourage/stimulate customers to patronize a specific retail store or to try a specific product. These promotional techniques give various benefits/bonuses to customers and these are mainly classified as 1.Coupons: This is the most common technique which usually reduce the purchase price or offered as cash. Need to state the offer clearly and make it easy to recognize. 2. HandoutAwash in Coupons Looks at the volume of coupons (323 bn) and the poor redemption rate (less than 3%). Looks at more innovative media to deliver coupons (currently over 80% are delivered via the Sunday paper).in store by the products, as customers exit the store based on purchasesdiscussed delivering coupons to customers as they enter the store, using a card that swipes to indicate past purchases. Past buying behavior is the best predictor of future buying patterns Users only redeem coupons they would ordinarily purchase. 75% of the coupons are redeemed by consumers who would buy the brand already. . 3 Demonstrations: Excellent attention getters. Labor costs are usually high. 4. Frequent User Incentives: Major airlines, helps foster customer loyalty to a specific company. Credit card companies. Trading stamps-Co-ops back in England, foster retail loyalty. 5. Point of Purchase Display: Outside signs, window displays, counter pieces, display racks. 90% of retailers believe that point of purchase materials sell products. Essential for product introductions. Also with 2/3 of purchasing decisions made in the store, they are important. 6. Free Samples: Stimulate trial of product. Increase sales volume at the early stage of the product life cycle and obtain desirable distribution .Most expensive sales promotion technique. Not appropriate for mature products and slow turnover products. 7. Money Refunds/Rebates: Submit proof of purchase and mail specific refund, usually need multiple purchase for refund. Helps promote trial use, due to the complexity of the refund, it has little impact. Customers have a poor perception of rebate offered products. Used extensively in the Auto and Computer industry. 8. Premium Items: Offered free or at minimum cost as a bonus. Used to attract competitors customers,different sizes of established products. McDonalds Last summer the following tie-in premium programs. Casper with Pepsi, Pizza Hut, Choice Hotels Congo with Taco Bell Batman Forever with McDonalds, Kelloggs , Six Flags, Sears Pocahontas with Chrysler, Nestle, General Mills, Burger King Mighty Morphin with McDonalds Cents-off Offer: Strong incentive for trying a product-very similar to coupons, but are a part of the package. Consumer Contests and Sweepstakes: Consumers compete based on their analytical or creative skills. Must be accurate or you will anger customers/retailers. Sweepstakes are prohibited in some states. Conclusion From the above discussion of various Promotion and sales technique we conclude that promotion with advertising is a part of total system approach that lead to maketing principles. Promotion and sales are interdependent on each other. It helps to increase demand for the product with a view to increase the companys sale and profit.

Alzheimer’s Disease Essay -- Alzheimers Disease Essays

Alzheimer’s Association (2010) explains that Alzheimer’s disease is a brain’s disease which affects the way people think, remember and behave. Finally, people living with Alzheimer’s do not know themselves; do not able to perform everyday activities, which means that they always have to be under control. All of these are caused by improper function of the brain. This disease leads to the death. Nowadays, the 7th cause of death in United States of America is Alzheimer’s disease. There is no method of curing yet, but it was proved that life of people living with the disease and caregivers can become better if good care and aid are provided during the whole period of the illness (Alzheimer’s Association, 2010). It is obvious that Alzheimer’s disease has financial and psychological impact on individuals, caregivers and society. Nowadays 35.6 million people are sentenced that they have this disease. It is predicted that this number will increase to 65.7 million by 2030 and to 115.4 million by 2050 (Anders Wimo and Martin Prince, 2010, 4). There are direct and indirect costs which are spent on people with such kind of disease. The first one includes expenditures in social services such as treating at hospital. In other words, it requires a lot of money. According to Alzheimer’s Association (2008) the Medicare such as hospital services and the care of medical man to person with dementia is three times more than the money which is spent on someone without it. Indirect cost involves unpaid service of caregivers; many active days that the sufferer has lost, physical and psychological challenges with which a person living with Alzheimer’s disease and his family have to struggle (Fox and Max 2009,... ...rtant point to consider is providing support for caregivers. More attention must be paid in order to assist them in coping with problems which occur over time. Overall, it is obvious that Alzheimer’s disease is a problem that requires much attention from government and investors. One of the problems is supporting caregivers. In my opinion, in order to find solutions more researches have to be undertaken, also it is important to keep in mind that each of them is unique; their challenges are not the same and problems vary during the illness. Another major problem is increasing amount of money which is spent on dementia. It is mostly caused by increasing number of people with Alzheimer’s. Solutions for this problem are complicated. However, I think more research in pharmacology will obviously assists to find them, so huge amount of money can be saved.

Cash Flow Management

Cash flow management: The life force of your businesses By LaZandrea Porter Cash flow management is a vital force to the success of any business, large or small. Some have compared cash flow management to the life source of the human body, the blood. Much like blood, cash keeps a business going, and cash flow is the circulatory system of a business. With this in mind, it is important to understand that managing cash flow goes beyond the generating of sales revenue. This article will aid in providing understanding of the components of cash flow management, as well as provide several key elements in successfully managing cash flow. What is Cash Flow? Investopedia. com defines cash flow as a revenue or expense stream that changes as cash account over a given period. Cash inflows usually arise from one of three activities; financing, operations, or investing. Cash outflows result from expenses or investments. In layman terms, this simply refers to how cash moves in and out of a business. In order for a business to be successful, the goal is to insure that your inflows of cash, on a long term basis, exceed your long term cash outflows. Understanding Cash Inflows and Outflows Cash outflow refers to the net amount of cash that flows out of a business based on the ongoing operations of that business. These uses of cash are usually expenses, such as payment of salaries and wages, creditors and suppliers, investments, long term business purchases, loan repayment, dividend repayment, income tax, corporation tax, and even lawsuit settlements. Cash inflows, the optimal goal for a business, are the exact opposite. Inflows are any transfer of money that comes into the business’s possession. The net cash amount that flows into a business due to the ongoing operations of the business, which is most commonly revenues, is where a business would see an inflow of cash. Some examples of cash inflow would be payments from customers, investors, lenders, sale of company real estate or equipment, as well as legal settlements. Proper planning It is logical to believe that if cash isn’t available a business can fail. This is also true if the circulation of cash is irregular and unpredictable. In order for cash flow management to be effective, a business must address both short and long term plans. With short-term cash flow management, a business relies mostly on the effectiveness of keeping good records, via a record keeping system. By utilizing a good record keeping system, a business insures quick and accurate access to revenue and expenditure transactions. There are several different tools in which to facilitate this need, which are the use of bank statements, cash flow forecasts, reports on debt collection, and accounts payable reports, to name a few. Routine monitoring of these types of documents is important to avoid insufficiencies. Creating routines for managing the cash flow will allow a business to make forecasts that will assist in their company’s growth. The key is to continuously make sure that the business has enough sales, at a profitable price. Three main concepts to remember are: 1. Plan in advance in anticipation of certain changes in income and expenditures. 2. Monitor to make adjustments to business and financial operations. 3. Manage to â€Å"average† out the peaks and valley of cash flows. The Use of Cash Flow Statements Financial statements help businesses successfully manage their cash flow. Such financial statements as balance sheets and income statements provide a picture of the assets and liabilities of a business. A cash flow statement is different, in that it operates as a checkbook that reconciles the balance sheet and income statement. This statement records the business’s cash inflows and outflows during a given period. It provides information on whether or not the revenue on the income statement has been collected, however it does not show all of the business expenses because some of those expenses that have been accrued have to be paid right away. There are three main components to a cash flow statement which include cash flows from operation, investment, and financing activities. Below is a sample cash flow statement. Cash flows from (used in) operating activities | |  Ã‚  Cash receipts from customers |27,500 | | |  Ã‚  Cash paid to suppliers and employees |(20,000) | | |  Ã‚  Cash generated from operations (sum) |7,500 | | |  Ã‚  Interest paid |(2,000) | | |  Ã‚  Income taxes paid |(4,000) | | |  Ã‚  Net cash flows from operating activities | |1,500 | |Cash flows from (used in) investing activities | |  Ã‚  Proceeds from the sale of equipment |7,500 | | |  Ã‚  Dividends received |3, 000 | | |  Ã‚  Net cash flows from investing activities | |10,500 | |Cash flows from (used in) financing activities | |  Ã‚  Dividends paid |(2,500) | | |  Ã‚  Net cash flows used in financing activities | |(2,500) | |. |Net increase in cash and cash equivalents | |9,500 | |Cash and cash equivalents, beginning of year | |1,000 | |Cash and cash equivalents, end of year | |$10,500 | In conclusion, managing cash flow effectively is not something that any business should and/or could afford to take lightly. Successfully planning and monitoring of financial statements are an effective way to ensure that a business in on the right track toward their financial growth. Cash Flow Management Cash flow management: The life force of your businesses By LaZandrea Porter Cash flow management is a vital force to the success of any business, large or small. Some have compared cash flow management to the life source of the human body, the blood. Much like blood, cash keeps a business going, and cash flow is the circulatory system of a business. With this in mind, it is important to understand that managing cash flow goes beyond the generating of sales revenue. This article will aid in providing understanding of the components of cash flow management, as well as provide several key elements in successfully managing cash flow. What is Cash Flow? Investopedia. com defines cash flow as a revenue or expense stream that changes as cash account over a given period. Cash inflows usually arise from one of three activities; financing, operations, or investing. Cash outflows result from expenses or investments. In layman terms, this simply refers to how cash moves in and out of a business. In order for a business to be successful, the goal is to insure that your inflows of cash, on a long term basis, exceed your long term cash outflows. Understanding Cash Inflows and Outflows Cash outflow refers to the net amount of cash that flows out of a business based on the ongoing operations of that business. These uses of cash are usually expenses, such as payment of salaries and wages, creditors and suppliers, investments, long term business purchases, loan repayment, dividend repayment, income tax, corporation tax, and even lawsuit settlements. Cash inflows, the optimal goal for a business, are the exact opposite. Inflows are any transfer of money that comes into the business’s possession. The net cash amount that flows into a business due to the ongoing operations of the business, which is most commonly revenues, is where a business would see an inflow of cash. Some examples of cash inflow would be payments from customers, investors, lenders, sale of company real estate or equipment, as well as legal settlements. Proper planning It is logical to believe that if cash isn’t available a business can fail. This is also true if the circulation of cash is irregular and unpredictable. In order for cash flow management to be effective, a business must address both short and long term plans. With short-term cash flow management, a business relies mostly on the effectiveness of keeping good records, via a record keeping system. By utilizing a good record keeping system, a business insures quick and accurate access to revenue and expenditure transactions. There are several different tools in which to facilitate this need, which are the use of bank statements, cash flow forecasts, reports on debt collection, and accounts payable reports, to name a few. Routine monitoring of these types of documents is important to avoid insufficiencies. Creating routines for managing the cash flow will allow a business to make forecasts that will assist in their company’s growth. The key is to continuously make sure that the business has enough sales, at a profitable price. Three main concepts to remember are: 1. Plan in advance in anticipation of certain changes in income and expenditures. 2. Monitor to make adjustments to business and financial operations. 3. Manage to â€Å"average† out the peaks and valley of cash flows. The Use of Cash Flow Statements Financial statements help businesses successfully manage their cash flow. Such financial statements as balance sheets and income statements provide a picture of the assets and liabilities of a business. A cash flow statement is different, in that it operates as a checkbook that reconciles the balance sheet and income statement. This statement records the business’s cash inflows and outflows during a given period. It provides information on whether or not the revenue on the income statement has been collected, however it does not show all of the business expenses because some of those expenses that have been accrued have to be paid right away. There are three main components to a cash flow statement which include cash flows from operation, investment, and financing activities. Below is a sample cash flow statement. Cash flows from (used in) operating activities | |  Ã‚  Cash receipts from customers |27,500 | | |  Ã‚  Cash paid to suppliers and employees |(20,000) | | |  Ã‚  Cash generated from operations (sum) |7,500 | | |  Ã‚  Interest paid |(2,000) | | |  Ã‚  Income taxes paid |(4,000) | | |  Ã‚  Net cash flows from operating activities | |1,500 | |Cash flows from (used in) investing activities | |  Ã‚  Proceeds from the sale of equipment |7,500 | | |  Ã‚  Dividends received |3, 000 | | |  Ã‚  Net cash flows from investing activities | |10,500 | |Cash flows from (used in) financing activities | |  Ã‚  Dividends paid |(2,500) | | |  Ã‚  Net cash flows used in financing activities | |(2,500) | |. |Net increase in cash and cash equivalents | |9,500 | |Cash and cash equivalents, beginning of year | |1,000 | |Cash and cash equivalents, end of year | |$10,500 | In conclusion, managing cash flow effectively is not something that any business should and/or could afford to take lightly. Successfully planning and monitoring of financial statements are an effective way to ensure that a business in on the right track toward their financial growth.

Khafre and Seated Scribe Essay

Comparison The two pieces, â€Å"Khafre† and â€Å"Seated Scribe†, are two art pieces that have originated from the ancient Egyptian time period. These two pieces are very similar and different in many ways. With this in mind, we learn that art work, depending on the time period, may have similar meanings but also different messages and that same time. The piece â€Å"Khafre† has many differences compared to â€Å"Seated Scribe†. One of these differences is simple; Khafre, the Pharaoh that is being depicted in the piece, â€Å"Khafre† has the body build, such as muscles, that would give the viewer the idea that he is a leader. While on the other hand, the piece â€Å"Seated Scribe† shows a man sitting down with little to no body strength and shows the viewer that he had a good life that was free of physical labor. Another difference between the two pieces is that the lives of the two are completely different. While the Pharaoh shows a life of seriousness, strength, and power; the â€Å"Seated Scribe† shows the viewer a life of wisdom, alertness, eagerness, labor free, and attentiveness. Another major difference between the two pieces is that on the â€Å"Khafre† piece, the Pharaoh’s throne has plants, papyrus and lotus plants, that represent his ruling and power over the upper and lo wer regions of Egypt. With this in mind the viewer of â€Å"Seated Scribe† notices that the scribe might have been in one of those two regions of Egypt and although he shows more of a labor free life, he might still be under the law of the Pharaoh, Khafre; proving the fact that Khafre has more obvious power over the normal human being, yet alone a scribe. One last difference is in the wealth difference of the two people. While the Pharaoh sits on a throne with a backing on it, the scribe sits on the hard ground but still has perfect posture. With these differences the viewer can begin to have a better understanding of the meaning and symbolism behind the two pieces. Aside from just differences, the two pieces â€Å"Seated Scribe† and â€Å"Khafre† are also very similar as well. One of the many ways that they are similar is in their posture. The two men sit upright and alert. Their eyes focused on the task at hand. For the scribe it may be more obvious but you can also tell Khafre’s alertness by his clenched fist and his wide open eyes. The two pieces also share the similarity of service. While the scribe is shown possibly writing words for the Pharaoh, therefore doing a service for him; Khafre sits on his thrown and can be viewed as him serving his people. This idea can be shown by the way that they are seated and the way they are looking with full alertness. The last similarity between the two pieces is that the two are idealized very clearly. With the scribe you can take a quick look and have the idea that the piece is representing a person who is not of royal being and that he is a type of writer. The same can be said for the Pharaoh; you can look at the piece and automatically notice that the piece represents a Pharaoh by his body stature, his headdress and false beard. With differences in mind, the viewer of these two pieces can get a better knowledge of the art world and what they truly mean. Overall the two pieces are similar and different in many ways. But having the ability to study and have a closer look into the two pieces and get an idea of what the artist was trying to portray, is what makes art so fascinating. The two pieces are just a small part into the art of Ancient Egypt. But knowing what the two are about, is what makes the viewer and student have a better appreciation of the art of the past.