Nokia competencies

Nokia competencies Every firm comprises of competencies, not all possess core competencies, these are crucial for a competitiveness. This report examines the core competencies that contribute most significantly to Nokias competitive advantage. These consist of organisational culture and research and development. Nokias competitive advantage will be analysed based on corporate brand and products and services base, then personal analysis reported. 2.0 Theoretical idea of core competencies Firms possess competencies through efficient use of resources and are required for firms to compete. Core competencies are attributes that an organisation possesses which in turn allows it to achieve competitive advantage (Prahalad Hamel, 1990 cited Henry. A, 2008). There is differential performance between companies in the same industry, due to individual core competencies since the environment is constant. In 2008, Dell had the largest market share in UK PC market (Datamonitor, 2009), with core competencies in its value chain giving competitive advantage (Henry. A, 2008). Core competencies should be appropriable so those who provide the attributes for the competitive advantage should reap benefits (Kay. J, 1993 cited Open University, 2009). The key is not to focus on all competencies just ones that add most value and competitive advantage. Collis and Montgomery (1997) identified some attributes within the organisation are more useful for gaining sustainable competitive advantage (Henry, 2008). The features of useful attributes are that they help provide value to customers, are unique and difficult to imitate (Collis Montgomery, 1997, cited Hooley. G et al, 2008) as seen in figure 1. Other theorists support this identification, Prahalad and Hamel (1990) identified three tests for core competencies: 1. A core competence should provide access to a wide variety of markets. 2. A core competence should make a significant contribution to perceived customer benefits of end products. 3. A core competence should be difficult for competitors to imitate. (Prahalad cited The Free Library, 2002). Hamel and Prahalad (The Free Library, 2002) identified core competencies should not remain static whilst the environment changes. Core competencies enable production of new products and services and increase customer relationship management, they should be envied by competitors but difficult to replicate (Hooley. G et al, 2008). Shangri La Hotels have a stronger customer relationship than their competitors (Datamonitor, 2009) their mission Delighting customers each and every time (Shangri-La Hotels and Resorts, 2009). 2.1 Nokias core competencies Nokia has many competencies but due to recent success appears to focus on the right core competencies to gain competitive advantage. The two significant ones are organisational culture (Blau. J, 2003) and investment in research and development (Nokia, 2009). Organisational culture is a core competence and source of sustainable competitive advantage (Barney, 1986b, cited Hamel. G Heene. A,1994). 2.1.1 Nokias organisational culture Nokia, unlike competitors, is innovative and entrepreneurial by adopting the correct culture (Blau. J, 2003). Within the organisation entrepreneurship is encouraged by managers open to employee suggestions for new products and services, this allows continuous learning, there is also a feedback process for employees engaging in new ideas (Blau. J, 2003). VP Niitamo, Chair of European Living Labs Portfolio, Some of Nokias success, is from continuously bringing in young, talented people, without pushing them down one particular career path (Blau. J, 2003). For this to take place they must have shared vision to ensure full commitment from employees (Kanter, 1983 cited Henry. A, 2008). 2.1.2 Nokias research and development Another core competency is Nokias research and development. Nokia employs 51,750 people, over one third is made up of people in research and development. The company employs approximately 1,000 new people in research and development each year, aiming for those who have new skills (Blau. J, 2003). Nokias extensive research and development enables it to create trusted consumer relationships, the best mobile devices everywhere and context enriched services (Nokia, 2009). 3.0 Theoretical idea of competitive advantage Competitive advantage results from matching core competencies to opportunities (Business Dictionary, 2009). Many 2000 dot.com failures were companies identifying the opportunity but not having competencies to achieve competitive advantage (Hooley. G et al, 2008). Companies can achieve competitive advantage by charging higher prices for increased value products and services or offering the same products and services as competitors at lower prices (Porter. M. E, 1985). Differences between rival products and services have become narrow, so companies need to find new ways of distinguishing themselves in customers minds. Companies can use brands to be distinctive compared with competitors, and create a relationship with customers for competitive advantage (Chailan. C, 2008). In 2008, the airline industry saw JetBlues new experience based differentiation after they created T5 terminal at JFK. T5 added brand value by augmenting the service with additional and complementary features (DDB, 2009). Companies should look for sustainability; competitive advantage that competitors are unable to imitate (Barney, 1991 cited Henry. A, 2008). Tesco uses vendor managed inventory and builds relationships with suppliers such as Nestle and Coca Cola to improve availability, providing competitive advantage for those involved, however unsustainable (William Reed Business Media Ltd, 2009). Figure 2 identifies the relationship between core competencies and competitive advantage. Although core competencies lead to competitive advantages this may be indirect by developing core products or services. 3.1 Nokias competitive advantage Nokia is currently worldwide largest mobile phone maker, therefore they must have significant core competencies to gain competitive advantage (Yahoo Finance, 2009). Nokias competitive advantage is based on scale, brand and services (Nokia, 2008). 3.1.1 Nokias brand value After wavering in 2004, Nokia came back to build an outstanding reputation through a 12% increase in brand value and became fifth top brand (Kiley. D, 2007). Nokia currently has number one brand in many markets worldwide (Temporal. P Davies. R, 2009). Nokias organisational culture contributed to its corporate brand since employees and processes are reflected in the brand (Temporal. P, 2009). Nokias research and development assisted in creating brand value by keeping up to date with evolving consumer demands and is recognised as a company that provides consumers with the desired products and services. NRC, Nokias innovations hub invests at least 5% of the annual research and development budget. Innovations are created for commercial purposes after three to five years development (Samuels. M, 2006). 3.1.2 Nokias products and services Ideas need to align with organisational culture, therefore this must be correct to generate desired products and services (Henry. A, 2008). Organisational culture is reflected in products and services through processes and procedures, this led to sustainable competitive advantage. The knowledge possessed by employees cannot be easily transferred, groups of employees would be required for a fraction of the knowledge (Argote. L Ingram. P, 2000). Nokias research and development continuously improves and generates new products, this is essential as Nokias markets became highly competitive over the last decade with entrants such as Apple iPhone (Ward. A, 2009). In 2002 Nokia received the Frost and Sullivan market engineering award for its secure access system innovation which was an exceptionally evolved product (BNET,2003 Calif. S. J, 2002). 4.0 Critical analysis I conclude that Nokia has effectively developed competencies into core competencies to develop sustainable competitive advantage. I consider Nokia to have core competencies in particular organisational culture and research and development, contributing most to Nokias competitive advantage. The organisational culture is quite unique among competitors, yet as industry leader so they must be doing the right things internally in relation to the external industry. Other companies should steer away from the negative image that innovative organisations are only effective in small organisations and implement some of Nokias techniques to reduce differential performance between them. However, I realise this will only be effective if there are shared values and commitment from the entire organisation as with Nokia. Organisational culture cannot be easily learned so this must create sustainable competitive advantage until competitors have developed their culture more effectively. Nokia invests heavily in research and development which is reflected in its product and service offering which is outstanding, therefore I see it as a worthwhile investment. I have identified that Nokia doesnt just employ people for research and development, it supports them and develops their knowledge base to benefit the company. I identified Nokias main competitive advantage being brand value and product and service offering. I recognise that Nokia successfully achieved competitive advantage of its brand organisational culture and the beliefs and practices adopted by the company. Nokia must continue to do the right things such as ethical behaviour in the work place or the brand will be tarnished and will be difficult to rebuild unless its loyal customer base sticks by regardless which I find doubtful. Nokias other competitive advantage consists developing latest product designs and outperforming rivals through services. I do not consider this sustainable, despite Nokias investments in research and development. Product innovation in the mobile phone industry is the main contributor to growth, through replacement sales (Cassell. J, 2004). This is likely to remain the case as the market is already saturated, therefore I feel Nokia wont maintain this level of competition as rival companies would invest more into research and development to compete. Overall, I find Nokia making best use of its core competencies to gain competitive advantage but dont believe it will continue to be industry leader without enhancing its core competencies to meet evolving demands. 5.0 Conclusion In conclusion it has been analysed that Nokia has several core competencies, the most significant being organisational culture and investment in research and development. These core competencies led to competitive advantage in the form of strong brand image and exceptional product and service offerings. Although this is currently the case for Nokia within the mobile phone industry, they may not be sustainable as will be identified over time.

Humorous Wedding Toasts to the Newlyweds :: Wedding Toasts Roasts Speeches

Humorous Wedding Toasts to the Newlyweds Learning to Love To the newlyweds, When you learn to love hell, you will be in heaven! Forsake Not Forsake not an old wife, for the new is not comparable to her. A new wife is as new wine: when she is old, thou shalt drink her with pleasure. A Clean Shirt Here’s that you may always have A clean shirt A clean conscience And a dollar in our pocket. Health and Prosperity Here’s to health and prosperity, To you and all your posterity. And them that doesn’t drink with sincerity, That they may be damned for all eternity! Diplomacy Getting married is like getting a masters degree in diplomacy. In just two short years you will develop the ability to tell your husband to go to hell, So that he will look forward to making the trip. Facing Problems Sooner or later, in every marriage, you will encounter problems: When this time comes, you must take the bull

Analyse and present research information Essay

Computers R’ Us have the following organisational requirements: Security and confidentiality requirements Management and accountability channels Research strategies- use a combination of research via print and online Presenting Information – All information in Arial, font 12 Procedures for updating records – This is the task of the HR manager and the sales manager. The 3 new products to be launched are: 1. Lenovo Yoga – A convertible laptop-tablet 2. Bose SoundLink Mini Bluetooth Speaker – A Bluetooth ultraportable speaker for music on the go   3. Astro Pro 2- An external power bank or battery charger for laptops, smartphones, iPhone etc. PART A The objectives of each research topic are as follows: OBJECTIVES FOR THE THREE NEW PRODUCTS TO BE LAUNCHED: Due to changed industry trends, there is a need for new products to be launched. Failure of the past products In order to increase the profitability for the company. OBJECTIVES FOR CHOOSING A NEW COURIER COMPANY: Faster service More customer satisfaction Increasing complaints for the previous company OBJECTIVES FOR CHOOSING A NEW OFFICE RENTAL PLACE: To avoid unwanted expenses Parking availability To reach out to more customers Increased profitability. PART B RESEARCH REQUIREMENTS For new products launch: The current market scenario needs to be researched in detail. Current availing prices and strategies, and competitors activities need to be assessed. For courier company: Feedback needs to be taken from existing customers of the courier company. Market research to be conducted on the reliability of the company. Rental property: A good real estate to be consulted and detail research to be done on the pros and cons of each location. BUSINESS TECHNOLOGY For new products launch: Attending technology expos, Research on Internet, Technology Magazines, Consulting Tech Gurus. For courier company: Directories, Internet research, Google Places ratings. Rental property: Real estate websites, Real estate offices, Newspaper adverts. , Magazine listings. KEW WORDS AND PHRASES FOR ONLINE SEARCH For new products launch: Computers and accessories in demand, Hot new products, Must have computers, Computers to buy 2014, Accessories to buy 2014, Affordable computers+ accessories. For courier company: Best courier service, Courier in Melbourne, Melbourne courier service. PART C PRODUCTS TO BE LAUNCHED LENOVO YOGA: The Yoga is perhaps one of the most usable devices on the market. It has a great keyboard, track pad, and touchscreen, and can be used in multiple positions. Yoga combines the productivity of an Ultra-book with the touch experience of a tablet, taking full advantage of the Windows 8 functionality. The screen flips a full 360 degrees into four modes that make it easy to create, share, or consume content. Combine those with its long battery life, and the Yoga provides ultimate versatility. The Lenovo Yoga comes at a wholesale price of $550 and is sold at a current market price of  $699, which gives a profitability of $150 per piece sold. It is a definite hit with consumers due to its unique design and diverse usability. Bose SoundLink Mini Bluetooth Speaker: Enjoy your music on the go, everywhere you go. The SoundLink ® Mini Bluetooth speaker delivers full, natural sound from an ultra-compact speaker that fits in the palm of your hand. It connects wirelessly to your smartphone, tablet or other Bluetooth device, so you can listen to your music, videos or games anytime, anywhere. Just grab it and go. Features Advanced audio performance delivers full-range listening experience The most compact mobile speaker from Bose easily goes where you go Wirelessly connects to your Bluetooth device Rechargeable battery plays up to 7 hours USB port allows for software update to ensure ongoing Bluetooth device compatibility Soft covers are available separately in blue, green or orange The speaker comes with charging cradle and power cord and accessory covers are available separately The speakers come at a wholesale price of $150 and the current market price is $200. Though the profitability is not much but the speakers are highly in demand and sellable very fast. Astro Pro 2: Astro Pro2 is one of the newest laptop external batteries, which provide 1 full charge to laptops equals to 9 cycles on phones. New, yet been noted to be a dependable external charger. Dependable because it does not only give exact status, but also super powered with a built-in high capacity of 20000mAh. Product Features Slim and comfortable in a small pouch. Fashionable feature that fits any occasion and rugged for daily use. Lightweight. Its only two pounds when shipped. With a built in lithium polymer battery: Ensures longer laptop battery life up to 8 hours or more. This external battery is equipped with two outputs for greater function. Impressive LED lights to display battery status and percentage: Astro Pro2 LED lights are consistent, clear, and accurate all the time. They update not only the ‘in and out’ details, but they also provide the laptop battery life’s percentage. With this, the user won’t find  it hard when to stop and connect this battery to your starving laptop. Aluminium body in a stylish packaging. Great deal with various inclusions: 1 Anker Astro Pro2 20000mAh external battery, four phone connectors, 1 USB cable, 10 laptop connectors, 1 DC power cable, 1 AC 100-240V adapter, 1 pouch and user guide Dimensions: 4.9 x 7.3 x 0.6 inches; 1.2 pounds The wholesale price for Astro Pro 2 is $99 and its current market sale price is $135. Sales are very high for this product. COURIER COMPANY GOLDEN MESSENGERS – An established transport and delivery company, Golden Messenger provides express courier services in Melbourne and across Australia. Golden Messenger offers a Guaranteed Minimum Delivery Time (GMDT): their deliveries, whether as-needs or scheduled, are on time or it’s free. If you need same day delivery, they are the business courier service to call. Messenger can help you with your day-to-day business delivery and run-around needs in the Melbourne CBD and metropolitan area. They provide ad-hoc courier deliveries (Standard, Express and Priority), logistics solutions, banking (including pick-up and banking of cheques) and mail runs. They can utilise a light van, taxi truck, half-tonne or one-tonne van or tray to carry out permanent runs or contract transport. Golden Messenger also offers country and interstate parcel and mail courier services, whether your freight is a full or less-than-full truckload. They will manage all your intrastate and interstate transport needs, including carton delivery. Golden Messenger is a professional team of couriers with a focus on communication, operating 24 hours and 7 days to transport your deliveries on time. RENTAL OFFICE PROPERTIES Option 1 – 1ST FLOOR ROOMS/OFFICES FOR LEASE – NEPEAN HWY FRANKSTON. Located in an ideal location, this office has a reception area, spilt system heating and cooling, shared kitchen and bathroom facilities. Secured entry with intercom access. Total rooms – 2. Rent cost – $12000 p.a. or $1000 p.m. Option 2 – 4/79-83 Miles Grove, SEAFORD 3198 *Industrial 1 Zone *89 Sq. m (approx.) factory type location *Ideal for storage/online business *Kitchenette *Toilet and shower *Available now *$800.00 per calendar month, plus GST, plus outgoings (O/G’s Approx. $1,000 per annum) Option 3 – 22/94 High Street, BERWICK 3806 Modern office space. Dedicated air conditioner, suspended acoustic ceiling, sink/kitchen area, carpeted. Front building entry to Main Street, rear building entry to car park. Rent – $1650 p.m. PART D /22/94 HIGH STREET, BERWICK VIC 3806 For Lease /94 HIGH STREET, BERWICK VIC 3806 For Lease $1,650 p 94 HIGH STREET, BERWICK VIC 3806 For Lease $1,650 p 4/79-83 MILES GROVE, SEAFORD VIC 3198 For Lease $9,600 pa

Who Is the Architect of the Most Famous Memorial in DC

For a class project at Yale University, Maya Lin designed a memorial for Vietnam Veterans. At the last minute, she submitted her design poster to the 1981 national competition in Washington, DC. Much to her surprise, she won the competition. Maya Lin is forever associated with her most famous design, the Vietnam Veterans Memorial, known as The Wall. Trained as an artist and an architect, Lin is best known for her large, minimalist sculptures and monuments. Her first great success that launched her career—the winning design for the Vietnam Veterans Memorial in Washington DC—came when she was only 21. Many people criticized the stark, black monument, but today the Vietnam Veterans Memorial is one of the most famous memorials in the United States. Throughout her career, Lin has continued to create powerful designs using simple shapes, natural materials, and Eastern themes. Maya Lin has maintained a design studio in New York City since 1986. In 2012 she completed what she calls her final memorial—What is missing?. She continues to create her own Lin-chitecture with an emphasis on environmental themes. Photos of her work are posted on her website at Maya Lin Studio. Background: Born: October 5, 1959 in Athens, Ohio Childhood: Maya Lin grew up in Ohio surrounded by art and literature. Her educated, artistic parents came to America from Beijing and Shanghai and taught at Ohio University. Education: 1981: Yale University School of Architecture, B.A.1986: Yale University School of Architecture, M.A. Selected Projects: 1982: Vietnam Veterans Memorial in Washington, D.C.1989: Civil Rights Memorial in Montgomery, Alabama1993: The Weber House, Williamstown, Massachusetts (with William Bialosky)1993: The Womens Table, Yale University, New Haven, Connecticut1995: Wave Field, University of Michigan, Ann Arbor, Michigan1999: Langston Hughes Library on the Alex Haley Farm, Clinton, Tennessee (C-Span Video)2004: Input, an earth installation at Bicentennial Park, Ohio University2004: The Riggio-Lynch Chapel, Childrens Defense Fund, Clinton, TN2006: The Box House, Telluride, CO2009: Wavefield, Storm King Art Center, Mountainville, New York2009: Silver River, CityCenter, ARIA Resort and Casino, Las Vegas, Nevada2013: A Fold in the Field, Gibbs Farm, New ZealandOngoing: The Confluence Project, Columbia River, American Northwest2015: Novartis Institutes for BioMedical Research, 181 Massachusetts Ave., Cambridge, MA (Design Architect: Maya Lin Studio with   Bialosky Partners Architects)2019 (expected): Neilson Library Redesign, Smith College, Northampton, Massachusetts Whats Lin-chitecture? Is Maya Lin a REAL architect? Our word architect comes from the Greek word architekton meaning chief carpenter—not a good description of the modern architect. Maya Lin has described her winning submission sketches for the 1981 Vietnam Memorial as very painterly. Although a Yale University graduate with two architecture degrees, Lin is widely known more for her artistic memorials and installations than the private residences she has designed as an architect. She does her own thing. Perhaps she practices Lin-chitecture. For example, an 84-foot scale model of the Colorado River has become part of the registration process at a Las Vegas resort (view image). Lin took nearly three years to replicate the river using reclaimed silver. Finished in 2009, Silver River is a 3,700 pound statement to casino guests—reminding them of the local environment and the fragile source of their water and energy while staying at CityCenter Resort and Casino. Could Lin have affirmed environmental impact in any better way? Likewise, her earth pieces are visually magnificent—as large, primitive, and unworldly as an underground Stonehenge. With earth-moving machinery, she sculpts land to create works like the temporary installation Wavefield (view image) at Storm King Art Center in New Yorks Hudson Valley and her earthen wave installation called A Fold in the Field in New Zealand at Alan Gibbs Farm. Lin won early fame for her Vietnam Memorial and notoriety for the battles it took to turn her design sketches into reality. Much of her work since then has been considered more art than architecture, which has continued to stir heated debate. According to some critics, Maya Lin is an artist—not a real architect. So, whats a real architect? Frank Gehry gets to design jewelry for Tiffany Co. and Rem Koolhaas creates fashion runways for Prada. Other architects design boats, furniture, wind turbines, kitchen utensils, wallpaper, and shoes. And isnt Santiago Calatrava really more of an engineer than an architect? So, why cant Maya Lin be called a real architect? When we think about Lins career, beginning with that 1981 winning design, it becomes clear that she has not strayed far from her ideals and interests. The Vietnam Veterans Memorial was rooted in the earth, built with stone, and created a bold and poignant statement through its simple design. Throughout her life, Maya Lin has been committed to the environment, social causes, and affecting the earth to create art. Its that simple. So, let the creative be creative—and keep art within the scope of architecture. Learn More: Maya Lin: A Strong Clear Vision, written and directed by Freida Lee Mock, 1995 (DVD)Boundaries by Maya Lin, Simon Schuster, 2006Maya Lin: Topologies, Rizzoli, 2015Maya Lin: Systematic Landscapes by Richard Andrews and John Beardsley, Yale University Press, 2006 Source: A Walk Through ARIA Resort Casino, Press Release [accessed September 12, 2014]

Portrayal Of The Criminal Justice System - 1308 Words

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Depression Disorder And Its Causes - 1100 Words

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Marketing Plan Strategy Of Boost Juice Free Sample

Question: Disucss about the Marketing Plan Strategy of Boost Juice. Answer: Introduction Marketing is considered as a core function of the business management. The business strategies of a company rely heavily on its marketing strategies. The purpose of any business is to expand its customer base. The profit of an organization are not increased by technology, infrastructure but it is solely dependent upon the customer base and their satisfaction. Therefore, the basic idea of marketing is to create a customer-driven organization wherein the customer satisfaction is given supreme importance. In the present business scenario, the competition among the business organizations has drastically increased. Therefore, the importance of marketing methods has also increased in expanding the market share and retaining the previous customers. The fundamental goal of the marketing strategy is to increase the sales and enhance the brand awareness for the company (Ferrell Hartline, 2013). The marketing strategy encompasses several short-term and long-term methods that are focused on upl ifting the situation and the profitability of an organization. The most fundamental part of the marketing strategy is the marketing mix which refers to the tools and techniques that can be used by the company to influence the consumer behavior and pursue its marketing objectives. Traditionally, the marketing mix refers to the four major aspects which are manipulated to pursue the marketing strategy. At present, the marketing mix is extended to eight aspects, namely, product, prices, promotion, distribution, partnerships, people, processes and physical evidence (Belohlavek, 2008). In this essence, in this report, the marketing strategy of Boost juice is evaluated in the Australian market. In the initial section of the report, the history and the background of the company has been covered. Subsequently, the marketing strategy of the company has been evaluated by the examination of its marketing mix. In the later section, a few recommendations are made to the company to enhance its mar keting methods. Boost Juice Bars is an Australian retail organization that deals with various health products such as juice, smoothies and protein and energy drinks. The company was founded in 2000 in Australia by Janine Allis and today has presence in several countries across the globe. Boost is famous for providing healthy and fresh diet products to the customers has reached sales of over $ 2 billion. The company came into existence when during an American trip, the companys founder examined that the fresh juice bar market is developed in several countries, yet in Australia there are very few juice bar companies despite its healthy and outdoorsy lifestyle. Later, Janine Allis founded the company after development of a business plan, structure and ethics. The first store of the company was opened in Adelaide and there Janine worked everything from making drinks to serving customers. This helped her to study the consumer taste and their preference. Moreover, she also acquired in-depth knowledge of t he market and the logistics involved. The company grew in size and several different stores were opened in different places. The company also hired help and extended its staff due to the increase in the operations (Boost, 2017). Marketing Mix of the Company 8 Ps The marketing mix is the fundamental concept of marketing wherein the marketing methods are systematically applied to enhance the product sales. In the marketing process, the marketers conduct the research about the characteristics of the market, select a target market and develop a marketing strategy. In order to increase the sales, there are some demand-inducing variables which constituents the marketing mix of the company. The classical marketing mix has four variables (Product, Price, Place and Promotion); however, in the recent years expanded into eight Ps of marketing with changes in the business environment. In the below section, the marketing mix of Boost Juice is evaluated. The company offers various health food products. It includes high quality fruit juice, smoothies or juice bars. The company has always focused on quality of the products and incorporated fresh fruit juice blended with yoghurt and healthy smoothies. In the recent years, in order to tap the health-conscious customers, the company has introduced several products such as high protein, super-food, tropical and spirit. The company has made a motto to make all its products from natural ingredients and low fat. The company avoids unnatural products, artificial flavors and sweeteners or preservatives. It has also developed its product according to its target customers. The regular smoothies of the company are filled with the natural nutrients whereas the Super Smoothies are designed to maximize the benefits by adding various Boosters. It has also introduced products in accordance with the customer taste such as tea lovers. In different locations, the company has customized its products to sui t the local tastes. Boost has introduced several tailor-made products which are developed according to the local taste and needs (Boost, 2017). In its marketing strategy, the company has kept the prices of all the menu items low. It is done in order to attract more customers and compete with other food and beverage companies such as Coke and Pepsi. However, keeping the prices low has reduced the profit margins of the company (Prowd, 2013). Boost Juice acknowledges that different customers in different corners of the world have different taste, values, customs, purchasing power and habits. The company ensures that its promotional strategy in the foreign markets is different from its local strategy and adapted according to the local market needs. The promotional strategies are also developed according to the purchasing power, media habits and consumer interest in the local region. In its expansion, the company follows the strategy of franchising. In this strategy, it chooses the prominent and the experienced market players of the local region, who have intensive knowledge of the local market. However, the company also focuses on maintaining the integrity and the brand message of the organization (Boost, 2017). Moreover, with its foundation the company has followed a unique marketing approach of above-the-line and below-the-line marketing. As a result, within five years of its inception the company has arrived at 94% market awareness. The above the line marketing of the company includes the use of social media, television and the radio campaigns. In contrast to it, below the line methods include, e-mail marketing, engaging website, media coverage and customer service (Boos Study Kit, 2015). Boost Juice has adopted the strategy of franchising as its distribution strategy. About 70% of the Boost Juice outlet is franchised to different distributors. It is the method of expanding the outreach to the customers by leasing the business model and the brand name for a specific period of time to other businesses (Switzer Daily, 2009). Boost Juice has developed partnership with Bain Capital a private equity partner (Fitzsimmons, 2014). In addition to it, the company has also formed a new partnership with AIA Australia (IFA, 2016). In the marketing mix, the people refer to the founders, employees and the culture of the company. As per the love life philosophy of the company, it tries to give an exceptional experience to the customers. Therefore, the company has constructed attractive stores with vibrant colors to give exceptional consumer experience. The company is also focused on providing exceptional customer service to all the customers. The process of the company refers to the service delivery, complaints and the response time of the company. The company is very focused on providing exceptional customer services to its customers. The service quality is exceptional, the customers complaints are resolved quickly and the response time is also fast. The physical evidence of the customer experience with the company can increase the sales of the organization. It refers to the user stories, recommendations and the general buzz around the organization. In this regard, the company has well-maintained its website and shares the stories of the customers and their experience in social media with the organization. The company also tries to create buzz by tapping the current social trends. Contemporary Issues and the Competition Due to the advancements in the times and the changing consumer behavior, the marketing management of the business organizations has also undergone drastic changes. Due to the advancements in technology, the outreach of the companies has increased; however, several issues have also emerged due to increase in accessibility of the information. The companies have to maintain their brand image and social responsibility. They cannot consider themselves as entities which are completely separated from their social responsibility or consider that their main objective is profit making (Shankar et al., 2012). As a result, the companies have considered taking several actions to give back to the society where they are operating. Boost Juice also take several initiatives to control their emissions and minimize the negative impact on the environment. The company has introduced different versions of the paper cups which are manufactured from renewable and the sustainable resources. Moreover, the com pany uses non-toxic and food-safe inks which are not harmful to the environment. Along with it, the company has actively participated in several charity and philanthropic activities (Boost Juice, 2017). Moreover, social media also has changed the dynamics of the business environment. The business organizations can instantly connect with their customers and the target market. However, these customers can also connect with each other and provide their feedback and reviews to a larger audience. Therefore, it has become essential for the business organizations to focus on the customer experience and satisfaction each and every time. Furthermore, the companies can also use the social media to study the market trends and the customer preferences. They can also instantly promote their services, products, offers and discounts with social media. Other technological advancement also assists business organizations to increase their operational efficiency and productivity in business. For instance, the companies can automate the processes to minimize the human error. It also reduces the operational costs to the companies (Ferrell Hartline, 2013). However, with the technical advancements, the connectivity of the people and consumers has also increased. Before making the purchase decision, the customers evaluate the product options and then determine which product he has to buy. It has drastically increased the competition among the business organizations. The companies also integrate ethical principles and social marketing to increase their brand value (Fifield, 2012). Recommendations for Formulation of Marketing Strategy In the following section, several recommendations are made so that the business organization can enhance its marketing strategy and attain a larger market share. Boost Juice is focused on providing healthy juices and smoothies to the customers. The competitive advantage of the company is its focus on the health products. However, the product range of the company is limited. Therefore, the company must focus on developing its product range. Boost Juice can offer health food salad, wholegrain bread and its sandwiches to include variety in its product offering (Hill, 2012). The price of the products is comparatively low in comparison to the product value. The company is offering the products at low prices so that it can attract more customers. However, the profit margin of the company is comparatively low. In this essence, the company can provide a detailed product range wherein the products with additional features can be sold at a higher rate. The company uses a comprehensive marketing strategy to promote itself. It uses broadcast media like television, radio and social media to connect with the customers. Boost Juice can enhance its promotional strategy by incorporating its philosophy in the marketing campaigns. It should focus on the use of vibrant colors and sports in its marketing campaigns. It can also join hands with other sports organization or adventure companies to promote its products (Hill Jones, 2009). In its distribution strategy, the company should focus on developing its retail outlets in places known for outdoor sports activities such as beaches or sports clubs. Moreover, the company should also develop a few outlets in the office colleges or youth clubs to tap the market of young generation. In order to expand its business, the company should initiate partnerships with other health product companies. Being a big organization, it can acquire small companies which are focused on healthy diet and food products. It can also work on creating partnerships with financial firms and companies to increase its financial robustness. In the present competitive environment, human resources are considered as a vital asset in the development of the competitive advantage. They represent the company and interact with the customers. The company should focus on developing its human resources to compete with other organizations in the same industry. The service professionals of the company should be provided training to provide the customer excellent services in its retail outlets. Moreover, the company should also invest in attracting the best talent in the industry by providing better remuneration and attractive salary packages (Partridge Sinclair-Hunt, 2005). The process of the company can be enhanced by implementation of technology and technically-advanced machinery and equipment. The company should focus on the implementation of a strategy so that no customer is dissatisfied with the services and the customer service professionals are prompt to enhance their experience with the company (Partridge Sinclair-Hunt, 2005). In order to increase the physical evidence for the product, service and quality, Boost juice can initiate an online blog. The company can share its own experience or the experience of the customers in this blog. Additionally, the company can also establish promotional videos wherein the company can connect with its customer base through online mediums. Boost Juice can share its philosophy, vision and connect it with the Australian community. Conclusion Conclusively, it can be stated that Boost Juice has targeted a niche market in the Australian community and tapped on the health conscious customers. The company was founded in 2000 by Janine Allis when she found that there is no food product for the health conscious customers in Australia. In the founding years, she conducted marketing research and examined the customer behavior by directly dealing with the customers. The company expanded in different countries as well as in Australia through franchising. Moreover, it extended a specific marketing mix to attract maximum customers. It has also implemented the strategy of keeping the prices low to attract maximum customers. The company focuses not only on providing excellent quality products but focusing on a very different consumer experience. In this direction, the stores are painted with vibrant colors and front desk professionals provide excellent services to the customers. In the report, it is recommended that the company increas e its number of outlets in places with maximum young population. In its promotional activities, it can start blog and posting promotional videos. References Ferrell, O.C., Hartline, M. (2013). Marketing Strategy, Text and Cases. Boston: Cengage Learning. Belohlavek, P. (2008). Unicist Marketing Mix. Blue Eagle Group. Boost Juice. (2017). The Boost Story. Retrieved 27 January 2017 from https://www.boostjuice.com.au/about Boost. (2017). Why Pick Boost. Retrieved 27 January 2017 from https://www.boostjuice.com.au/why-pick-boost Boost Study Kit. (2015). Retrieved 27 January 2017 from https://www.boostjuice.com.au/wp-content/uploads/2015/02/Boost_Study_Kit_2015.pdf Prowd, J. (2013). Boost's pricing problem. Retrieved 27 January 2017 from https://www.intelligentinvestor.com.au/2013/07/boosts-pricing-problem Switzer Daily. (2009). Franchising as a Distribution Model. Retrieved 27 January 2017 from https://www.switzer.com.au/small-business/business-management/systems/franchising-as-a-distribution-method/ IFA. (2016). AIA makes product enhancements, partners with Boost Juice. Retrieved 27 January 2017 from https://www.ifa.com.au/news/15635-aia-makes-product-enhancements-partners-with-boost-juice Fitzsimmons, C. (2014). Boost Juice founder Janine Allis in partnership talks with Bain Capital. Retrieved 27 January 2017 from https://www.afr.com/leadership/entrepreneur/boost-juice-founder-janine-allis-in-partnership-talks-with-bain-capital-20140506-jya8p Shankar, V. et al. (2012). Handbook of Marketing Strategy. Edward Elgar Publishing. Ferrell, O.C., Hartline, M. (2013). Marketing Strategy, Text and Cases. Cengage Learning. Fifield, P. (2012). Marketing Strategy. Routledge. Hill, M. (2012). Marketing Strategy: The Thinking Involved. SAGE. Hill, C., Jones, G. (2009). Strategic Management Theory: An Integrated Approach. Boston: Cengage Learning. Partridge, L., Sinclair-Hunt, M. (2005). Strategic Management. Hertfordshire: Select Knowledge Limited.