...limited extent to which the global financial crisis had impacted on Australian productivity and economic growth. The significance of this can be shown through analysing the GDP per capita adjusted for purchasing power parity. Graph 1 [pic] Graph 2 [pic] Graphs 1 and 2 highlight the growth trend in GDP per capital from the years 1998 to 2009. Note that New Zealand’s GDP per capita is overall lower than Australia but this is not the point of interest. What is to be highlighted is that Australia’s trend of growth continues to increase, however New Zealand’s trend declines slightly in the year 2009 which reflects the policy implemented and the time lag it took for the global financial crisis to affect GDP per capita. Graph 3 [pic] To further reinforce Australia’s position is the Canadian trend which shows a reduction of GDP per capita during 2008, and as confidence in the economy picks up, the GDP per capita for 2009 is much more positive. As shown through the graphs, Australia is in a relatively stable position in terms of GDP per capita as compared to other developed nations, with no fluctuations and only a steady increase in growth reflecting the successful macroeconomic policies which promote consumption and consumer confidence in the economy. Although successful policies implemented by the Government and the RBA may have dampened the effects of the global financial crisis and allowed our GDP per capita to stay strong and continually increase, there are...
Words: 1410 - Pages: 6
...Key Issues 1. Distribution When best buy enters the Australian Market, the location and size of their stores will be critical to their success. This is how they will access their target market. It is also critical that Best Buy implements a strong supply chain and inventory control system. The Distribution is just as important from the manufacturer to the retail location, as is the retail location to the consumer distribution channel. 2. Implementing an online store as a substitute to their retail locations 3. Store Design The design and layout of the store will be a description of the Best Buy Brand. As this brand is new to the Australian market, the design of the store will be the most effective marketing tool that Best Buy has at their disposal. 4. Creating strategic alliances As it is a new business to Australia, the choice of whom, the business aligns themselves with, will determine how the Australian consumer perceives them. Target Market The target market strategy that is being recommended for Best Buy to use when entering the Australian market place is a broad-spectrum target market. The target market can be described as singles and families aged between 20 and 55 years old. They are the middle-class, living primarily in urban areas. This group is moderately technologically savvy and they want specialized electrical product knowledge and service at a competitive price. They also want a wide range of products all in one location. This group’s path...
Words: 3877 - Pages: 16
...Raashi Chawla Australian Dollar Analysis History: * The Australian Dollar is the currency of the Common Wealth of Australia, including Christmas Island, Cocos (Keeling) Islands and Norfolk Islands as well as the independent Pacific Island States of Kiribati, Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($), with A$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. * Prior to 1983, Australia maintained a fixed exchange rate. The first peg was between the Australian and British pounds, initially at par, and later at 0.8 GBP (16 shillings sterling). This reflected its historical ties as well as a view about the stability in value of the British pound. From 1946 to 1971, Australia maintained a peg under the Bretton Woods System, a fixed exchange rate system that pegged the U.S. dollar to gold, but the Australian dollar was effectively pegged to sterling until 1967. With the breakdown of the Bretton Woods system in 1971, Australia converted the traditional peg to a fluctuating rate against the US dollar. In September 1974, Australia valued the dollar against a basket of currencies called the trade-weighted index (TWI) in an effort to reduce the fluctuations associated with its tie to the US dollar. The daily TWI valuation was changed in November 1976 to a periodically adjusted valuation. * On 12 December 1983, the Australian Labor Government led by Prime Minister...
Words: 4161 - Pages: 17
...country of origin effect and consumer ethnocentrism The country of origin effect, also known as the ``made in'' concept, has been broadly defined as the positive or negative influence that a product's country of manufacture may have on consumers' decision processes or subsequent behaviour (Elliott and Cameron, 1994). Within the realm of consumer decision making, country of origin has been defined as an extrinsic cue that acts as a risk mitigant or quality cue for consumers (Cordell, 1992). Such extrinsic cues (others include price, brand name, warranties) serve as intangible product traits that contrast with intrinsic cues (e.g., taste, design), which are tangible aspects or physical characteristics of the product itself (Bilkey and Nes, 1982). Although some studies have questioned the importance of country of origin for much consumer decision making (Elliott and Cameron, 1994; Hugstad and Durr, 1986; Mitchell and Greatorex, 1990; Schooler and Wildt, 1968), recent research has demonstrated that the country of origin has a substantial effect on attitudes toward products and the likelihood of purchasing these products, often demonstrating effects that are as strong or stronger than those of brand name, price, or quality (Ahmed and d'Astous, 1996; Lantz and Loeb, 1996; Okechuku, 1994). Recent research has linked the country of origin effect to levels of consumer ethnocentrism. Consumer ethnocentrism focuses on the responsibility and morality of purchasing foreign-made products and the...
Words: 12776 - Pages: 52
...Executive Summary Traditionally, Australia-China trade & economy was simple. Australia met the demand for raw material for China’s manufacturing & China exporting back to Australia its finished manufactured goods. Thus China-Australia became each other’s largest trading partners. Now that China’s economy is affected, less spending on infrastructure the demand has shifted from raw materials & commodities to other specialized manufactured equipment, services like health, education, financial, engineering, agriculture etc. for which Australia has to change gears to gain distinctive advantage to its other competitors. However in Chinese economy there still exists substantial market for Australian commodities, such as wool, wines, wheat, minerals & iron ore, as Australia has advantage of nearness by sea for the shipping lines. The Free Trade Agreement is a win-win situation as Australia can easily meet the changed needs of Chinese for sophisticated medical goods & services in Health, Social Security, Human Resources, Banking, Education, Legal, Agriculture, Winery & Dairy. China’s economic woes & slowdown in addition to general economic slump has impacted Australia hard, specially the mining cum trading houses at present. This impact is not limited to just Australia but whole of Asia-Pacific, lain America & Canada. Thus to conclude, there are some positives about the Australian economy as GDP growth is up from the last year & China needs Australia, as it shall always...
Words: 3602 - Pages: 15
...of the current research is to determine if status and non-status seeking Australian teenagers differ in their attitudes toward buying domestic and foreign (i.e. Italy, Japan, China) luxury brand apparel. Design/methodology/approach – A total of 365 teenagers participated in this study through a self-completed questionnaire. Fishbein’s Multi-Attribute Attitude Model was used to measure and compare attitudes toward buying domestic and foreign made apparel. Repeated measure ANOVA and t-tests were utilized to examine whether the groups differed with regards to their attitudes toward buying luxury brand apparel, using a comparison of apparels “Made in Australia” with those “Made in Italy”, “Made in Japan” and “Made in China”. Findings – The research findings indicate that status-seeking teenagers have overall, a more positive attitude toward foreign luxury brand apparel as compared to Australian luxury brands, with the exception of Chinese brands. On the other hand, non-status seeking teenagers reported that they have more positive attitude towards Australian brands than foreign brands, and consider Australian luxury brands superior to all three foreign brands with regards to ease of care and comfort. Research limitations/implications – The findings is only limited to Australian teenagers and cannot be generalized to other nationalities or age cohorts. Practical implications – The study suggests that the Australian apparel industry should concentrate its marketing strategy on enhancing...
Words: 10487 - Pages: 42
...Project One Activity 1 The four countries I have selected from the given groups include China, United Kingdom, United States and Nigeria. Group 1~ China Demographics China has the largest population in the world. “One Child Policy” has been implemented in China since 1979 which have helped to prevent an extra 400 million births to the country. According to the fifth Census, China’s population was 1.3 billion. China has 1 majority which is called “Han” and 55 minorities. Economic system In the first 30 years after the founding of the PRC in 1949, China’s economic system was planned economy. In 1978, the household contract responsibility system was introduced in the rural area. In 1984, the economic restructuring shifted from the rural areas to the cities. In 1992, China established the socialist market economic system. Culture and Social Structure China’s history is more than 5000 years with diverse customs and traditions. Every ethnic group has its own culture, even some have their own languages and words. There are many dialects in China, and the main language is Mandarin. People’s tastes are varied as well. People from the South prefer sweet, people from the North prefer salty, while Eastern people like spicy and Western people like sour. Legislative System China's legislation includes the legislation of the National People's Congress and its Standing Committee, regulation making by the State Council and its relevant departments, as well as the legislation...
Words: 5978 - Pages: 24
...accurate information, Central Institute of Technology assumes no responsibility for any liability, loss or damage caused or alleged to be caused directly or indirectly by the instructions contained in or accompanying this publication. Version 2 Semester 2, 2013 Printed by: Print Central Contents Introduction 4 Study Notes 5 Element 1 – Develop and document strategies for international purchasing 7 Element 2 – Implement international purchasing strategies 10 Element 3 – Undertake more complex international purchasing 12 Element 4 – Determine payment strategies 15 Element 5 – Arrange barter and countertrade 18 Element 6 – Determine logistics strategies 20 Element 7 – Evaluate international purchasing strategies and implement identified improvements 22 Portfolio Activities Semester 2, 2013 24 Introduction Continued pressure to reduce costs and improve spending has fueled a procurement revolution. Pressures to source from emerging markets such as China, India and Eastern Europe demand improved sourcing and supply management skills. Purchasing internationally involves having to expand your knowledge of many aspects of procurement that you don't have to worry about when buying domestically. Differences in cultures, laws, communications, currencies and more. Coordinating logistics, dealing with customs, arranging payment, identifying countries for sourcing, finding suppliers, calculating landed cost, assessing risks, and implementing global contracts...
Words: 4834 - Pages: 20
...ADVOCACY ADVERTISING I. EXECUTIVE SUMMARY 4 II. SITUATION ANALYSIS 4 A. Industry Study: 4 1. Composition/Size/Market Segments 4 Small and Medium Scale Enterprises 4 Microenterprises 5 2. Current Situation 6 a) Microenterprises 7 b) Small Scale Businesses 7 c) Medium-Sized Businesses 7 3. Similar Campaigns 8 a) “Made In” vs. “Product Of” vs. “Owned by” (Australia & South Africa) 8 b) Buy Philippine Made Movement, Inc. 9 c) Seal of Excellence 9 d) Action Plan 10 4. Market Study 10 a) Colonial Mentality 10 b) Products Consumed 11 B. Definition of Issues 13 1. Philippine Made 13 2. Patronization of Philippine Made Products 15 3. Perceptions on Campaigns for Philippine Made 16 C. Position of Advocate 18 1. Mission and Vision: 18 2. Resources: 18 3. Competition: 19 4. SWOT Matrix: 19 5. TOWS 20 III. DEFINITION 22 A. Identification of Target Market 22 1. Primary: Youth 22 2. Secondary: Yuppie 24 B. Target Publics 24 C. Recipients 24 D. Product 25 IV. GOALS AND OBJECTIVES 25 A. Short term 25 B. Medium term 25 C. Long term 25 V. MARKETING MIX 25 A. Market Targeting 25 1. Size of the New Market 25 2. Demographic Characteristics 26 3. Psychographic Characteristics 26 4. Behavioral Characteristics 27 Primary Research Data 28 B. Product 30 C. Sales and Distribution Program (Please...
Words: 12045 - Pages: 49
... 4-6 Financial climate………………………………………………………………………………7-11 The managerial and labor environment……………………………………………………….12 Australian Government Fast Food Regulations………………………………………………13-14 Key players within the industry………………………………………………………………15-17 Key competitors………………………………………………………………………………18-21 Key Consumers……………………………………………………………………………….22-23 Challenges in Entering Australian Markets…………………………………………………..24 Recommendation………………………………………………………………………………25 Conclusion……………………………………………………………………………………. 26 References………………………………………………………………………………………27 Executive summary The main aim of this report is to show that it is feasible for our KLG enterprise to penetrate into the Australian market. Since KLG restaurant chain has been well established and successful in the local market; Malaysia, we think it’s the time for the enterprise to go international. Or KLG restaurant chain to have foreign direct investments. KLG restaurants is one of the leading fast food restaurants in Malaysia serving variety of fast foods like fried chicken, chicken burgers, French fries and soft drinks as well. According to (Wyld, 2010) “if the franchisor has a well-established home market, they are able to achieve better economies of scale once they expand internationally.” “Economic globalization constitutes integration of national economies into the international economy through trade, direct foreign investment, (by corporations and multinationals), short-term capital flows, international flow...
Words: 7656 - Pages: 31
...1.0 Exclusive Summary The purpose of the strategic essay is to introduce a new white goods outlet at Sydney. In order to successfully enter the target market and launch the store, managers need to carefully manage, operate and design appropriate market strategies. With the development of economic globalization, the relationships between the enterprises are becoming closer. And the enterprises are facing increasingly intense competitions with each other. In this rapidly developing society, marketing is more important for enterprises than ever before. Using the appropriate marketing concept to settle the issues between enterprises and customers is the key to success. This paper chose Sydney as the target location to open a white goods outlet. As the largest city in Australia, Sydney has a population of about 4.4 million spread over 12,000 square kilometers. Sydney is a metropolitan and tourist attraction center which attracts lots of visitors and foreigners from all over the world. The consumer base of Sydney is huge and the demand for high quality appliance and facility large. This paper is a critical analysis which describes the existing market environment and industry information. The paper firstly gave a brief introduction about the local retailing industry. The following part of the paper defined the mission and the marketing objectives of the target white goods outlet and re-emphasis on the Five Forces model. Implementation plan is more explicit which describes the market...
Words: 4630 - Pages: 19
...Economics 2410-001 Multiple Choice You have 2 hours to complete the following multiple choice examination. There are a total of 50 questions worth 2 points each. Identify the letter of the choice that best completes the statement or answers the question. You are expected to complete your work in accordance with the honor code. ____ 1. If there are diminishing returns to capital, then a. increases in the capital stock increase output by ever smaller amounts. b. increases in the capital stock eventually decrease output. c. capital produces fewer goods as it ages. d. old ideas are not as useful as new ones. ____ 2. The real exchange rate is the nominal rate exchange defined as foreign currency per dollar times a. U.S. prices minus foreign prices. b. foreign prices divided by U.S. prices. c. prices in the United States divided by foreign prices. d. None of the above is correct. ____ 3. The local Chevrolet dealership has an increase in inventory of 25 cars in 2006. In 2007 it sells all 25 cars. Which of the following statements is correct? a. The full value of the increased inventory will be counted as part of GDP in 2006, and the value of the cars sold in 2007 will not cause 2007 GDP to increase. b. The value of the increased inventory will be counted as part of 2006 GDP and the value of the cars sold in 2007 will increase 2007 GDP. c. The value of the increased inventory will not affect 2006 GDP; instead, the full value of the inventory will...
Words: 3264 - Pages: 14
...EXECUTIVE SUMMARY This report is a suggestion of which accounting technique should to be integrated into BHP Billiton’s contemporary management accounting system. Through in depth research this technique has been identified as the environmental management accounting technique. This result was achieved through the research of the strengths, weaknesses, opportunities and threats (SWOT) analysis and the identification of the critical success factors. A balanced score card was then created using the information gathered to be used in identifying the most relevant technique. EMA was the technique decided upon as compared to the other techniques as it is the most relevant to BHP Billiton as their industry deals day to day with the environment and society. It will create awareness for the harm that is being done to the environment and will encourage them to create the minimum damage to the earth. It will also assess any repercussions of their actions that may affect society and bring harm to people. By integrating the EMA technique, it will help the organisation to collect the most relevant information to their situation and will assist in the planning, controlling and decision making within that organisation. This will improve the organisations strategy in which to help preserve the environment and also affect their financial state positively. TABLE OF CONTENTS EXECUTIVE SUMMARY 3 TABLE OF CONTENTS 3 1. INTRODUCTION 5 2. BHP BILLITON LTD 5 ...
Words: 3460 - Pages: 14
...[pic] IQRA UNIVERSITY “Comparative analysis of consumer preferences for women clothing brands in Pakistan” Foreign brands Vs Local brand Consumer Behavior Research Project Report Submitted to: Shahnawaz Adil PREPARED BY: Jawaria Vohra 4533 (javeria.vohra@hotmail.com) Komal Sarwar 4172 ( komi.sarwar@hotmail.com) Mehwish fareed 4266 (m4mehwish32@gmail.com ) Huma sohail (humasohail90@gmail.com) Mariam Shahid (mariam-marry@hotmail.com) CHAPTER 1 INTRODUCTION 1. Introduction. The topic is being researched upon because the Pakistani women now play a vital role in the economy of Pakistan and now have a greater buying power and consumption pattern while purchasing clothes. Clothing is one of the most essential factors of one’s daily life, especially when it comes to women. Gone are the days when women used to sit back at home and their husbands used to shop and buy them a dress a month. Contrary to it the contemporary fashion market is being revolutionized and being known by the women clothing industry at its major part 1.2 Background Globalization has lead to a vast information and decision making set for everyone. Due to globalization, people are aware of product, their attributes, quality, prices and the number of substitutes they can refer for a certain product or service. As a result of globalization, a gap between nations and their culture have reduced, and people are adopting the trends of other countries...
Words: 6942 - Pages: 28
...impacts, with some of Australia’s most iconic natural attractions and World Heritage Areas particularly sensitive to changes in climate conditions” (Australian Government website, 2010). “Tourism is fundamental to Australia’s economy. The direct GDP contribution of the tourism industry was $38.9 billion in 2006-07. However, many of these tourism-related goods and services contribute to significant GHG emissions. (Tourism Australia, 2008). As stated by Tourism Queensland, 2009, “internationally and domestically our competitors are gearing up so they can promote themselves as climate friendly destinations. Queensland must act if we are to be competitive”. They have also stated ways to make this a reality. Some actions include: Promote environmentally responsible and safe use of your product/service to visitors; monitor the sustainability performances of main competitors; pursue a carbon neutral option for your product or service. Tourism Queensland was established in 1979 (Tourism Queensland, 2009), Tourism Queensland is a statutory body under the jurisdiction of the Minister for Tourism. This is an extremely successful body which continues to grow year by year. The role of Tourism Queensland is to promote Queensland tourism and to act in what is in the best interest of not only Queensland Tourism, but also Australian tourism. This is the body which is moving towards a better environmental future for tourism, Australia and the world....
Words: 3937 - Pages: 16
