Trust in the Press Essay Example for Free

Trust in the Press Essay Trust in the Press is essential in an ever changing society. Not only must the Press be trusted but it must be believed and must behave in an ethical manner. But what constitutes an ethical manner? Laws might be set to achieve certain outcomes and may not necessarily be ethical. What is legal and demanded by law may not be considered ethical from a journalistic point of view. With respect to your personal point of view of the above, discuss what you believe journalists have to do to maintain the trust and respect of the public. The historian Thomas Babington Macaulay introduced the notion of the media as the Fourth Estate; the role of a watchdog that checks on abuses of power by government and professionals.1 Lord Hutchinson, QC defence council for the ABC Case regarding the Official Secrets Act 1989, said it is the task of the press to examine, probe, question and find out if there are mistakes to embarrass the government.2 With such a role of responsibility, it is vital that the public trust what the press tell them. Codes and laws are in place to make sure journalists act as a collective conscience.3 In practice this is difficult as individual consciences come into play, along with the obstacles of time, money and competition that face journalists in their profession. One common rule among journalists is to never reveal your sources. If you do, your career will be tainted with mistrust. This journalistic ethical code secures a relationship with the public and provides protection. But there are laws that contravene this. Section 10 of the Contempt of Court Act 1981 says courts have the right to demand that journalists reveal their source if disclosure is necessary in the interests of justice or national security or for the prevention of disorder or crime. The Police and Criminal Evidence Act 1984 says police investigating a serious offence can obtain an order requiring the journalist to submit evidence considered useful to the court. It is difficult to defy the law, especially when the consequence could be imprisonment or a fine. However, I would still try to keep my sources confidential; otherwise they could face a fine or imprisonment. I would find that difficult to live with because I am just as responsible for protecting my sources and for imparting the information. In these circumstances I would argue for freedom of expression under the Human Rights Act 1998. Trainee journalist Bill Goodwin appealed successfully with this argument after he was fined for refusing to hand over documents concerning engineering company Terra Ltd. In another case the Guardian exposed their source Sarah Tisdall in 1984 under pressure from the courts. She leaked information about the delivery of cruise missiles to RAF Greenham Common and was jailed as a consequence.4 Where a source has taken the initiative and given a story to the press, especially in matters relating to national security, they must have recognised the risk and it is not unreasonable for them to take the consequences. There are legal reporting restrictions that a journalist can overturn. Section 39 and 49 of the Children and Young Persons Act 1933 can be lifted if a juvenile has committed a serious crime and naming them would act as a deterrent to others. Journalists often cite public interest in their reasons for disagreeing with the law and this is an ethical way to maintain the trust and respect of the public. Yet the problem lies in defining public interest. The Press Complaints Commission states that public interest includes: 1. Detecting or exposing crime or a serious misdemeanour 2. Protecting public health and safety 3. Preventing the public being misled by some statement or action of an individual or organisation5 Reporter Ryan Perry went undercover in 2003 as a footman at Buckingham Palace in order to observe their security methods. His report in the Daily Mirror highlighted the need for tightened security and this was achieved. His behaviour, although deceitful, was for the publics safety and I agree with German journalist Gà ¯Ã‚ ¿Ã‚ ½nter Wallraff who said, you have to disguise yourself in order to unmask your society.6 The BBC reiterates this in their guidelines for public interest: when dealing with serious illegal or anti-social behaviour it may occasionally be acceptable for us not to reveal the full purpose of the programme to a contributor.7 This is when the ethical behaviour of a journalist starts to depart from the ethical code of the public and indeed the law. I would find it difficult to lie in order to get a story but if it was for the publics benefit, I could do it. I do not think behaving this way, if it revealed vital information, could lose the respect or trust of the public. If the person I was exposing was a family member or boyfriend, I could not report on the story. I would not cover up their crime but similarly, I would not offer them up for public scrutiny. Ethical manner as a journalist is different to ethical manner as a daughter or girlfriend and in this case the personal is stronger than the professional. I do not think Perrys report on Buckingham Palace should have included photographs of private bedrooms and details on the storage of breakfast cereals. This does not come under the Press Complaints Commission code of public interest and I do not think it can be justified as ethical behaviour. Undercover work cannot be held up as ethical when the outcome is less important than the act and Perrys inclusion of these private details undermine the ethical reasons for reporting undercover. When it becomes a matter of what the public are interested in, rather than what they need to know, ethical manners begin to vary between journalists and other factors come into the equation. The media is to a certain extent controlled by the people who own the newspapers, radio stations and television companies. They pay the journalists salary and they ultimately make the decisions. A senior executive of News International said: If an editor went to Murdoch and said that he had carefully examined the PCC code of conduct on chequebook journalism and had come to the conclusion that to pay to get a story would be a breach of the code and, therefore, he hadnt done it, he would be fired.8 This shows that a journalists so-called ethical behaviour is not always their own. However the journalist can decide who they work for. If I was asked to pay for stories that revealed matters that I did not consider of public interest, then I would refuse and work for a different organisation. This is, of course easier said than done and when one organisation is willing to pay for a story, others follow suit to keep up with competition. The public are aware of this and join in the game. Neighbours of Shannon Matthews have begun to charge for their stories, and they know the media will pay. It is difficult not to succumb to this method of journalism when competition is so fierce but then motivation for talking to the press becomes about money rather than truth. The competition and pressure to get a good story causes some journalists to fabricate, especially in the television industry. Regulators Ofcom demonstrated the penalty of misleading the public when they fined ITV à ¯Ã‚ ¿Ã‚ ½5.675 million for phone vote scandals. Journalist Max Hastings said deceit is woven into the very nature of television. He described how some camera crews in war zones have encouraged soldiers to open fire so they can film dramatic footage that was missed when it actually happened.9 I understand the desire to produce a captivating documentary but asking soldiers to potentially put themselves and others in danger for dramatic effect, is not ethical behaviour. In television there is a fine line between deceiving the public and assuming they know about the editing tricks of the trade. Filming a sequence over a three-day period but presenting it as one day is not harmful deception but the reality of television production. The BBCs broadcast in 2007 of the Queen storming out of a portrait session was deceiving because editing gave a false representation of the actual events. Ofcom hold a similar view in regard to fairness. They say broadcasters should take reasonable care that material facts have not been presented, disregarded or omitted in a way that is unfair to an individual or organisation.10 When covering a story about parishioners protesting against their church being demolished, I was told by my editor to ask them to shout save our church for the camera. They did this and it brightened up the news package. It could be argued that this was unethical behaviour because it misled the public about the protest; as soon as I had gone, the shouting stopped. I did question my actions. However the desire to entertain the viewer, the opinion of my editor, the willingness of the protestors themselves and the low impact it would have on the public perception stopped me going against the decision. This is a minor case but it shows how potential deception in television is an ever-present reality. The need for impartiality is heavily stressed in journalism codes of conduct. Ofcom states that television and radio programmes must exclude all expressions of the views and opinions of the person providing the service on matters of political and industrial controversy and matters relating to current public policy (unless that person is speaking in a legislative forum or in a court of law).11 To be impartial as a journalist is not as simple as it seems; merely editing requires some personal judgement. As a reporter, it is not that easy to completely remove yourself from a story. Journalist Gill Swain said simply, dont get emotionally involved.12 Yet detach yourself too far and your reporting will get labelled as forensic.13 Sometimes the best journalism happens when you do engage emotionally and follow a story with passion. If Bob Woodward and Carl Bernstein had not done that, the revelation of Watergate and eventual resignation of US President Richard Nixon in 1974 would have never come about. Personal interest and involvement can be a helpful motive in investigative journalism. A few years ago I wrote about my college boat club in a university magazine. I was told various stories about club money that had gone missing. As a member of that boat club, I felt obliged to find out what had happened and inform university students. After publication the head of the boat club asked me to her office to explain myself. She was unable to deny any of the facts. If I had not had personal involvement in this story, the financial difficulties of the boat club would have not been revealed. Yet the actual writing of the story should be impartial and not convey the opinion of the journalist. The public should trust that you are giving them a fair and accurate report on a matter of importance to them. However, sometimes personal belief and gut instinct that go against codes and ethical manners can benefit the public. During the time Senator Joseph McCarthy made charges that the United States government had been infiltrated by Soviet spies, American journalists had to abide by the strict codes of reporting without analysis or comment. They knew McCarthys claims were false but the journalistic laws meant they were unable to investigate his statements and tell the public the truth. More recently, the Washington Post, New York Times and New Republic all apologised to their readers for not being sceptical when reporting White House claims that Iraq had weapons of mass destruction.14 Part of being a journalist is to face adversity and going against a law or code is sometimes the only way to tell the public the truth, but truth is what ultimately gains their trust and respect. Laws and codes are necessary to provide a benchmark for journalists to work from and maintain professionalism. Without them some journalists would lose sight of what fundamental principles they need to follow in order to behave responsibly. There are times when a journalists own instinct and ethical manner will maintain respect and trust of the public better than the codes. There are also instances when pressure, time and money prevent a journalist from maintaining those codes. Whatever the circumstances, the one rule that should be constant is that journalists are the eyes and ears of the public; their trust and respect should always take precedence. BIBLIOGRAPHY Frost, Chris. Media Ethics And Self-Regulation. Pearson Education Limited, 2000. Harcup, Tony. The Ethical Journalist. Sage Publications Ltd, 2007. Keeble, Richard. Ethics For Journalists. Routledge, 2001. Rosenstiel, Tom and Mitchell, Amy S., ed. Thinking Clearly: Cases in Journalistic Decision-Making. Columbia University Press, 2003. Welsh, Tom, Greenwood, Walter, Banks, David, eds. McNaes Essential Law For Journalists, 19th Edition. Oxford University Press, 2007. Wesbites: http://www.ofcom.org.uk 1 Richard Keeble, Ethics For Journalists (Routledge, 2001) 127. 2 Tom Welsh, Walter Greenwood, David Banks, eds. McNaes Essential Law For Journalists, 19th Edition (Oxford University Press, 2007) 415. 3 Keeble 131. 4 Keeble 29. 5 Tony Harcup, The Ethical Journalist (Sage Publications Ltd, 2007) 36. 6 Harcup 41. 7 Harcup 45. 8 Harcup 112. 9 Harcup 12 10 http://www.ofcom.org.uk/tv/ifi/codes/bcode/fairness/ 11 http://www.ofcom.org.uk/tv/ifi/codes/bcode/undue/ 12 Keeble 130. 13 Keeble 140. 14 Harcup 17.

History Of Lg Electronics Global Company

History Of Lg Electronics Global Company INTRODUCTION In 1947, LG was born as the Lak Hui Chemical Industrial Co. by Mr. In-hwoi Koo for manufacturing cosmetic creams. After that, the company produced radios, TVs, refrigerators, washing machines, and air conditioners as Goldstar Co. (currently LG Electronics) in 1958. The LG group was a merger of 2 Korean companies, Lucky and Goldstar; the current LG brand name was acronym from the name of these companies. With more than 82.000 employees and 110 subsidiaries and marketing units all over the world  [1]  , LG Electronics Inc. (LGE) was a successful company of Korean electronics that got the revenues of more than $43 billion  [2]  . Its products involve 4 strategic business units: Mobile communications, Digital appliance, Digital display, and Digital media such as CDMA handsets, DVD players, air conditioners, micro ovens, consumer electronics, and so on. In this report, we are going to discuss the key strengths of the Korean electronics industry during their formative years and how firms leverage these advantages to enter developed country markets. After that, the report mentions particularly about the strategic growths of LG Electronics to approach the emerging markets; and we are going to find out the commonalities across its strategies in the BRIC countries. Finally, the report will be ended with the points of learning that can be distilled from its success in emerging market and if these advantages help firms to compete in developed country or not. PART II Case Question 1 What were the key strengths of Korean electronics industry during the formative years? How did firms leverage these advantages to enter developed-country markets? During the formative years, almost Korea electronics is an Original Equipment Manufacturer such as Goldstar, Samsung, and Zenith; which received orders from global companies. This should bring them a lot of experiences on customer demand, the characteristic of markets, the customized products of some countries. The combination between innovate and education policy encouraged more students for technical education, the low-cost skills of Korean employees, the access of effective technology across all firms, the strongly development of technology in all country. Korea electronics companies can learn quickly knowledge, technologies, skills from Europe, US, Japan because government allows these foreign firms become joint venture with domestic firms. For example: LG Hitachi, Deawoo GE, Samsung Sanyo, so on. Besides that, government also focused on most sectors of Electronic industry of country, so they supported so much to develop this industry. Foreign investment was supported to develop the intermediate parts and component industry, while prohibiting foreign investment in companies producing finished goods. Korean firm with letters of credit for exports automatically received access to preferential loans. Export companies were exempted from various indirect taxes and received tax breaks for depreciation and tariff payments; they also had access to duty-free imports of capital goods. Government helped to encourage firm creating their local RD. With the developing and investment of technology, some firms stared to export their products by their own logo, not as OEM anymore like LG and Samsung. Because they were OEM of some global markets, so they already had the reference of consumers and global standards. After that, with many supporting of government, they had their manpower supplying with skills and abilities from university. Government has the tax breaks for depreciation and tariff payments for exporting companies. And the RD department had enough experience to recognize the market and give the best solution for company. As the Glodstar product lines, LGE established a central RD to develop and manufacture color TV (CTVs), VCRs and computers. PART III Case Question 2 Were there any distinct patterns in terms of the companys approach to emerging markets? Trace the commonalities across its strategies in the BRIC countries. Brazil Brazil is a country in South America wide more than 8.5 million km2, rich in mineral resources, population 190 million people with diverse cultures. Brazil is the leading economy in Latin America, ranking 10th in the world. Brazil chooses the path of economic model: fast growth with the advantage that fast economy flourishes, the growth rate in average income is very high. Besides that, government has some regulations to promote investors such as preferential tax rates, land subsidies in country, especially in some underdeveloped rainforest region. With these advantages, LG began attacking the Brazilian market in the mid-1990s. But during that time, Brazil also faced a lot of difficulties. Because their economic model is fast growth, so it also makes unequal economic, political; social increasingly fierce; the quality of life is not considered. At the late 1990s, almost global companies had to exit the market because of very high import tariffs, significant competition from the gray goods market, very low brand awareness. Inflation rate increased with high speed, local currency became unstable, exchange rates started to plummet with increasing levels of uncertainty. LG decided to make a long-term strategy, and also expanded their brand name in India. They had 2 factories in Manaus and Taubate to produce their products, this strategy made Brazil as a regional manufacturing hub to serve South America and US markets. LG also let Brazilian government know that they are a credibility partner in term of national growth by join with government to combat the problem of the rampant smuggling of gray market goods. Everybody knows that Brazil is a country passionate about soccer, Brazilian live for football. So LG had one strategy to reach millions of football fans sponsored a football club in Sao Paulo that most popular among the top clubs in the country  [3]  . By providing official uniforms with the LG logo for Sao Paulo club, LG get the instant brand recognition and fixed image in consumer. India LG began in 1993 as a form of joint venture with a consumer products company named Bestavision. They chose the Goldstar line of products to distribute in India. Since the government allowed foreign companies set up their own firms without local partnership, and the business of LG and Bestavision failed, LG decided to launch LGE India Ltd. (LGEIL) in 1997 with their own wholly owned subsidiaries in India. There were many challenges that LG had to overcome like: low brand awareness about LG brand name; LG was one of the last MNCs entered in India; high import duty of government; price sensitiveness of the Indian consumer and competitors. Following the global strategy, LG still entered and focused on the rural market. Because there are a lot of competition from local and global players in urban market; big population of rural market but also large untapped; etc. There is 1 year for them to set up manufacturing operations in Greater Noida to manufacture televisions, washing machine, etc. to over some the high import rate cost. At the first time, LG created an RD teams by local employees to customizing its products lines to meet local needs. It helped LG distribute their existing products and also customizing the new unique characteristic of products that matched the consumers expectations. This is an important resolution for LG to achieve both objectives: marketing and produce. LG had differentiated its product using technology and health care system like golden eye technology of CTVS, health air system for air conditionals, so on. They focus on emphasizing good-quality products, with prime technology and network. For customized products, they did not cut prices in manufacture existing product lines, but they decided to built new version with less material cost and also catch the needs of consumers. They kept the engineered quality of the appliances and focused on value engineering and design to manufacture at the lower cost. Such as microwave ovens with cooking menu including 77 kinds of Indian dishes  [4]  , television is displayed by 10 regional languages, washing machine with sari cycle, and so on. It helped LGEIL have all levels of consumers, especially low-class consumers, because company served exactly the need of them high quality but not expensive products. The price range of the products of LG India is quite reasonable and affordable so as to make it easier for every class of people to go for it thereby increasing the consumer level. For example, the price of Sampoorna reduces from 9000 to 5050. This shows R D team has worked very well and complete their tasks, it helps the production of LG reasonable based on deep understanding of Indias cultural and linguistic diversity. LG Company invested and created the distribution network encompassing with 65 Remote Area Offices, 60 central area offices, near to 4.000 access points in all areas, and they also had their online channel lgezbuy.com to provide information of products, comparison of prices and qualities across geographic, accept the individuals buyers. These regional distribution networks helped LG E to penetrate the B, C and D markets faster and wider. http://htmlimg3.scribdassets.com/6q46i2mohe5bi0w/images/14-631b49b1d4/000.png As same activity in Brazil, LG started sponsoring to catch more customers. LG became the largest single sponsor of cricket in the world, although they came from a country where cricket was not played. It immediately attacked to millions of cricket fans in this country and prelude to the success of the cricket-game TV set lines. LG also brought their products to 4 capitals of Indian cricket team for endorsing. Another strategy for other field of India, LGEIL promoted their products by Indians leading film stars. This is considered the largest film producer in the world by number of films produced annually and the number of tickets sold at cinemas, it has its owned name Bollywood to describe the effective to local consumers. After that, LG had another long-term strategy in trying to care about the social welfares in India initiatives. It created a friendly look to the company, people knew that company really did not just trading on their own country, but also cares for their lives. They subsidized the primary school education and books for children, built a village school. While most of employees of company in India were local people, they provided medical clinics for the health care strategy to employees as well as the local community. Also there were some basic levels, but LG shown that their corporation social responsible done well. As mentioned above, LGEIL put local employees staffed as the main labor force in their manufacturing. With the local employees, company could get great resource of engineering and design skills. LG Indias purposing is satisfying the needs of its consumers not only in the domestic market but all across the globe. Company is trying to make India as their training hub for global strategy. The company had begun rotating some of these managers into positions in third countries in the middles east and Africa. This is one of advantages of LG to acquire a leading position by providing fast and innovative techniques on their products. They always create new products with the best technology possible. Russia LG first entered Russia for the purpose to sale products; they imported goods manufactured from other countries and sale in Russia. Not the same as Brazil and India, LG operated themselves in and around the city of Moscow, and they just focused on Goldstar brand. LG set up an RD center and regional office in St. Petersburg for their first strategy. Till Russian engineers were known for their ability and skills in technology, company looked for talent employees to support their global employees. LG promoted their reputation by opening LG brand shops, retail channels with LG brand portfolio, culture marketing events such as LG festivals, cooking events, and so on. 1998, Russia was affected by the severe economic crisis; it made Russia faced the debt moratorium problem. This was the time LG shown their long-term strategy and loyal attitude to all Russian local and government. The more they pushed the mode of operation to dominate the market dropped; they enhance the image with consumers through the sponsorship of events, more carefully to the requirements for each market. These activities created a foundation for their premium strategy and image to local. In 2005, government allowed company to use the Narodnaya Marka logo for their products. This is an important event for LG officially recognized as a national brand, the successful of foreign company of their localization strategy. China In this market, LG first reason for entering china is lower-cost production, and they spent a lot of time to understand the local market conditions and assessing the feasibility to be successful. Since LG Electronics established its local subsidiary in Huizhou in 1992, the LG Groups 12 subsidiaries have come to manage some 34 local companies, including 22 manufacturers. LG Electronics took the top position in the Chinese domestic market in the area of TV export, CD-Rom drivers, washing machine, and air conditioners during that time because of their advantages of technological prowess and the marketability of their products. In china, they used the new strategy as a bipolar strategy a strategy offer high value-added digital home appliances to the high income earners living in the coastal areas, and low-priced household electronically appliances to general households living in the interior. China is a great resource for operating a business. With many advantages such as low labor cost, low material cost, government regulations, geographic proximity to Korea market, 16 corporate entities of LG were built in the country which focused on manufacture Plasma TV, white goods, and important research, development in 2006. LG expanded their brand to set up a manufacturing network to serve countries such as Russia and US. As 98% off employees were local Chinese and RD center, this is a smart strategy of LG in case of localization in China. For their promoting image, LG initiated an I love china campaign and passed out free sanitary masks to local citizens during the SARS crisis in China. This activity really effected to customers while others competitors tried to rundown their business. LG also well done with their Corporation Social Responsibility by launching schools, offering scholarships to economically disadvantaged students, sponsoring a touting cultural festival that would bring traditional Chinese cultural experiences to small towns and villages, founding a hospital program to provide surgical treatment to children with cleft palates. Common strategy across BRIC At the first time, LG Electronics always put up their local manufacturer and RD team with local employees to understand the need and characteristic of each market. They depend on these researches and created some specification for local. Such as in India, most of consumers require on cheap price of products, but still have the same quality of international; LGEIL decided to produce the television with a smaller screen size and scaled-down sound system. They did not forget to serve the high-end products to all markets. This is really the big success of their RD activities. They are supporting global strategy by looking for talent local employees, meaning they localize with a purpose for global market. And with local operation, they can save much of manufactured products such as materials, employees, etc. Second thing for their global strategy is they always established their brand name on rural market, where avoid the competition of those large corporations around the world. This is one unique strategy of LG because they focus on lower-class consumers and appropriate way to satisfy consumers in cheap prices but still benefit. The population of rural areas is always greater many times than urban areas. In 2007, LG Electronics reached the $2 billion marks in revenues in India; this is a good result for their strategy. By recruiting the local employees, LG E knew well about the characteristic of their consumers and this is an advantage to attack them. The company is always looking for talent employees to train them as a global standard. LG E did sponsors to the passionate of the country, such as cricket game in India, football in Brazil. Otherwise, they had good corporation social responsibility that shown local and government their loyalty. All strategies of LG E in BRIC countries are long-term commitment; this make LG has a different position compare with other operations. LG still tries to overcome all the barriers if they believe that a market is really profitable. PART IV Case Question 3 What are critical points of learning that can be distilled from its success in emerging market? How these advantages are leveraged to compete in developed countries? Are there advantages transferable? By some successful experiences of LG in BRIC countries, LG brought to people the strategy to run well an operation in emerging market. Some of their success experiences are do sponsorship, event to create an image to customers; they always had their RD team to customization their product to satisfy the markets based on localization. They still kept the global standard on their product lines and put it into new products for each market. By this way, their brand name will have the image of globalization and also get benefit for customized products. And LG focused on rural market and they know that major population of BRIC countries is poor, so they give what the customers want low price. In case of operate in developed country, LG can also use this strategy to attack their customers, but its harder. Because in developed countries, there are many sponsorship and activities daily, if their marketing strategy is not unique, LG can get many difficult to compete with others like Sony, Phil lip, etc. Foreign businesses always focus on 2 things: outsourcing and marketing when enter a country. LG really did 2 things above in BRIC countries because they built their own factories, using local people, manufacture products on their factory in each country. They produce their customized products and sale them. But maybe this strategy will not work in developed country, because of the highly cost rates. The purpose for building their outsourcing is reducing the cost, but in developed country, the cost for these activities is very expensive. There will be better for them if they just do marketing and sale activities in developed country. Other thing is their distribution network. They expanded their brand name by a lot of retail channel, offices to most areas of each country. They also can save the cost for import, export, transfer, and quickly accessible to consumers. This will be the prepare strategy before LG enter a developed country. PART V References Career LG. (n.d.). Retrieved 11 24, 2010, from LG Electronics Inc.: http://www.lg.com/global/about-lg/careers/faq.jsp Corporate infomation. (n.d.). Retrieved November 20, 2010, from LG Electronics Inc.: http://www.lg.com/africa_en/about-lg/corporate-info/global-sports-sponsorship/sao-paulo-football-club.jsp Grand Finale Of LGS MALLIKA E Kitchen 2010. (n.d.). Retrieved November 24, 2010, from Food and Nightlife: http://www.foodandnightlife.com/content/grand-finale-of-lg-s-mallika-e-kitchen-2010 LG Record sales and products. (2010, 1 28). Retrieved 11 19, 2010, from Consumer Lifestyle News: http://www.cln-online.org/index.php?option=com_contentview=articleid=511:lgprofitscatid=40:industryItemid=135 LOUIS VUITTON IN INDIA Table of Contents Louis Vuitton Background Introduction 24 Case Question 1 Why do people buy luxury goods? 25 Case Question 2 Louis Vuitton is a high-end product. India is a low-income economy. Can this dichotomy be reconciled? 28 Case Question 3 What are the external factors kindering the purchase of luxury goods in a country like India? 30 Case Question 4 Why do luxury goods marketers form retail clusters? 33 Case Question 5 Why do certain luxury brands look for store locations in luxury hotels? 35 Case Question 6 How does a luxury mall work for luxury goods marketers? 37 Conclusion 39 References 40 PART I INTRODUCTION Louis Vuitton, a French fashion house officially founded in 1854, is the worlds leading of high-end fashion brand in international fashion industry. The well-known label is LV monogram which is featured on most products ranging from luxury trunks to leather goods is also as a way to deter counterfeiters. Founder of LV first launched a small leather shop in 1821 with the original products specialized in crafting fine leather luggage ware. But since recognized the demand among prestigious travelers who wanted premium steamer bags, flat cases, and weekend bags, the namesake designer, Louis Vuitton, gradually grew into a brand that offered deluxe travel goods. Back then, as successfully in establishing LV initial reputation, LV expanded the assortment to include carry-on-bags, toiletry cases, small trunks, jewelry boxes, and eventually luxury watches. Today, over one hundred and fifty year brand Louis Vuitton has been spread throughout Europe as the fashion icon of the most exquisite sy mbol. In this particular case study, we are going to discuss the reason why people purchase luxury goods, especially is LV; and how the dichotomy between a high-end product and a low-income economy to be reconciled. Then, the report will be continued with the external factors that hindering the purchase of luxury goods in India, culture typically. After that, mentioned more in international marketing, we are going to find out the reason why luxury goods marketers form retail clusters, why certain luxury goods look for store locations in luxury hotel. And finally, the report will be ended with the way of a luxury mall work for luxury goods marketers. PART II Case Question 1 Why do people buy luxury goods? Nowadays, when the world becomes globalization, there are no more barriers in the integration process of every country. Therefore, people are entitled to purchase and use global products made by international companies. Not the same as consumer goods or necessity goods, luxury goods are cyclical and correlate with GDP in specific regions, often exaggerating the up- and down-swings; in boom times, consumers demand tends to grow faster than the growth of economies (as measured by GDP)  [5]  . More precisely, luxury goods are goods for which demand is not related to income. Basically, there are three main factors that lead people by luxury goods. Especially in todays consumer-driven economy, people spend proportionately less on basic necessities and more on things based upon emotion and desire. Firstly, they buy luxury good because of its superior functionality and quality. Most of them were old because of hard working time period, so they were wealthy enough that willing to pay premium for products that had enduring value. They usually conducted extensive pre-purchase research, then making logical decisions rather than emotional or impulsive. This action highlighted the messages of product quality. And that message were information-intensive appealed to them. Consisting of connoisseurs, this category was the largest. Secondly, they are people who perceive luxury products as a reward. They saw these products as status symbols which make the personal statement that they had arrived. Highly driven, they were motivated by a desire to be successful, eager to showcase their success to others. They also were keen on appearing lavish or hedonistic. They wanted to make seemingly smart decisions that demonstrated the importance of their purchase while not leaving them open to social criticism of any kind. Thirdly, this is the smallest and consisted of younger consumers, with a higher proportion of males than the other categories. They saw luxury products as a means of self-indulgence. They enjoyed luxury products for their feel-good factor. They were emotional in their purchase decisions and were not concerned with product longevity or its enduring value. Particularly, in India, people who buy luxury goods fall into the second category. As we know, maharajahs are the most wealthy and powerful in India in the late 19th century. They are the one who prefer everything luxury to showcase their positions as great king. It was the ongoing orders from Indian royal families, among other wealthy customers, that had helps Louis Vuitton survive the Great Depression of the 1920s  [6]  .After that, although the changes in 1971, these maharajahs lost their traditional hold in post-independent India and their riches with the abolition of annual financial grants from federal government, many of them became entrepreneurs; but accidentally, the new generation of customers for LV was formed in India including start-up owners of myriad new businesses, professional CEOs in their thirties and early forties, non-resident Indian, small and medium retailers, big-brand franchisees, Bollywood actors and closet spenders. This new generation of customers coul d be the third category of who purchase luxury goods. They are new and not too many of them are really rich, but they still purchase LV as the feel good factor. Hence, they are very essential in long-term strategic development in Indian market. PART III Case Question 2 Louis Vuitton is a high-end product. India is a low-income economy. Can this dichotomy be reconciled? India, throughout history, has been a land of extremes and known for the indulgence of its opulent classes  [7]  . Typically, there are more than 600 maharajahs existed that time. They are truly powerful and wealthy enough to be considered as great king. As a positive result, most of global brands were looking India as a market with long-term potential whereby there are high demands of luxury goods from Indian royal families, so does Louis Vuitton. Until now, almost luxury brands are still survived in Indian market despite of global economic crisis. Clearly evidences are the Indian market has increased a significant percent of consumption this year when customers are more interested in walking into the outlets and, importantly, buying rather than just looking. Besides that, India is known as a low-income economy, but there are really have several wealthy people who are superior to the average population. Since Louis Vuitton made an important observation that the rich in India were flying to London, Dubai, Singapore, New York, and Paris to shop because there were noting available in India for them to buy  [8]  , the company has articulated the clear long-term goals in India that is open store in every Indian city so that the wealthy class can buy the needed items right in their home country. The World Wealth Report 2005-06, published by Merrill Lynch and Capgemini, put the number of dollar millionaires in India at 83,000 in 2005. The report also said that India recorded the worlds second fastest growth in the number of HNW individuals, 19.3 per cent in 2005  [9]  . Thus, we can easily realize the potential market of Indian consumers purchasing power. Currently, due to the capitalist mind set and growing young population, India offers to luxury brands favorable advantages such as more wealthy people, increasing awareness, increasing consumerism, and greater supply of luxury goods. Firstly, luxury product companies strategizing their entry into India were primarily targeting high-net-worth individuals because they are those with a million dollars or more in liquid financial assets. They are the largest category of spending on luxury goods as the number of them as well as their demand increased. Secondly, India young generation is now travelling abroad more than before, thus, the foreigner brand awareness is also increasing. The more they go out of the country, the more they exposure with international brands, especially luxury brands. Then, the demand of these kinds of global brands is increased in India but domestic market can not satisfy their demand. That is the reason helps luxury goods generally and Louis Vuitton particularly still existed and developed gradually in this market. Thirdly, there are also an increased numbers in consumption of non-essential items. The world is getting globalization day by day; the demand of human is not only the needs but also the wants, so that their life becomes more convenient and sophisticated. They dont afraid of giving a large amount of money to spend on a luxury product that it is worth for and satisfied their wants. Of course, there is no more guilt feeling associated with spending on luxury nowadays. Finally, together with the boom of expanding global, luxury brands opened more and more outlets in as many countries as possible, including India. Generally, in the world of opposition, this dichotomy entirely can be reconciled. PART IV Case Question 3 What are the external factors hindering the purchase of luxury goods in a country like India? Depend on several conditions of each country; the factors that are hindering the purchase of luxury goods are various. In this particular case study, we are finding out the external factors in Indian market. Advertising platform: Nowadays, Advertising is a service to the community  [10]  . It is usually revealled the latest fashions and the new popular novelties on the market. Therefore, the effect of adverting to the community is essential. Advertising has the power of persuade and influence consumer. Advertising has short-term power (conveying new information, building awareness, enhancing credibility, etc.) and long-term power (conveying brand image, attaching emotional values to the brand, building positive reputation, etc.)  [11]  . Actually, there is lack of advertising platform in Indian market. No famous magazines or newspapers are found in India at tha

Idealism in F. Scott Fitzgeralds The Last Tycoon Essay examples -- La

Idealism in F. Scott Fitzgerald's The Last Tycoon Idealism is undoubtably present in F. Scott Fitzgerald's The Last Tycoon. Infatuation may be a better word, for that was exactly what possessed the main character, Monroe Stahr. He was totally engorged with one Kathleen Moore. He idealized Miss Moore as the second coming of his deceased wife Minna Davis. Stahr was a true man of men that had little to do with women since the tragic passing of his wife. He would rather put his feet up with a cigar and shoot the breeze with the boys. Yet once he laid eyes on Kathleen for the first time, all of that changed. It was love at first sight. Kathleen and Stahr meet after an earthquake rocked Los Angles. Stahr was surveying the damage done to the studio, when a prop came floating by with two "dames" clinging to it for their lives. A stage hand rescued and presented them to Stahr for judgement. That was the moment that would change everything. The following excerpt is a narration of what was going through Stahr's mind when he was struck blind by Cupid's golden arrow. "Smiling faintly at him from not four feet away was the face of his dead wife, identical even to the expression. Across the four feet of moonlight, the eyes he knew looked back at him, a curl blew a little on a familiar forehead; the smile lingered, changed a little according to pattern; the lips parted--the same." (Chp II, p.26) She was Minna, but she wasn't. All her features were Minna's, except her voice. "--and then he heard another voice speak that was not Minna's voice." (Chp II, p.26) She was obviously British and not glamorous American, as Minna's had been. Nevertheless, she was a replica of his life long love. Stahr determined right then that she would be the next. Before he could get himself together, Kathleen was whisked away by the police for trespassing. Stahr spent the next few days trying to track her down. By this time he had fully succumbed to her rapture. On their third meeting, they happened to stumble upon each other at a posh Hollywood party. Her beauty brought back all the sensations that had trapped him initially. The scene was as follows: "...the white table lengthened and became an altar where the priestess sat alone. Vitality welled up in him, and he could have stood a long time across the table from her, looking and smiling...(while dancing) she was momentarily u... ...es me feel as if life is just one big joke. I soon come to my senses and re-release that life will go on. Stahr on the other hand cannot get past the facts that love has left his life twice. It is just too much for him to deal with. I too idealized the woman in my life as the "wind beneath my wings." The sad fact is that just is not true. The only wind under my wings is the mountain valley breeze that is ever present on this university campus. I am reason for my survival, not a woman. Stahr saw Kathleen as the only thing missing from his life, and quite possibly that being a true statement. He could have lived without her, but he just didn't see it that way. Overall idealism is an interesting idea. We all do it, but why? Why do we idealize people and ideas? Are we trying to make them seem better than they really are? I believe that we do it, because it is instinctive. Whether we idealize a person or an abstract idea, we all do it. The Last Tycoon is an idealistic novel. Even during the time in which Fitzgerald was writing this novel, he idealized the novel itself as his best work. Tragically, just like Stahr, his dream was not realized due to death, that death being his own. Idealism in F. Scott Fitzgerald's The Last Tycoon Essay examples -- La Idealism in F. Scott Fitzgerald's The Last Tycoon Idealism is undoubtably present in F. Scott Fitzgerald's The Last Tycoon. Infatuation may be a better word, for that was exactly what possessed the main character, Monroe Stahr. He was totally engorged with one Kathleen Moore. He idealized Miss Moore as the second coming of his deceased wife Minna Davis. Stahr was a true man of men that had little to do with women since the tragic passing of his wife. He would rather put his feet up with a cigar and shoot the breeze with the boys. Yet once he laid eyes on Kathleen for the first time, all of that changed. It was love at first sight. Kathleen and Stahr meet after an earthquake rocked Los Angles. Stahr was surveying the damage done to the studio, when a prop came floating by with two "dames" clinging to it for their lives. A stage hand rescued and presented them to Stahr for judgement. That was the moment that would change everything. The following excerpt is a narration of what was going through Stahr's mind when he was struck blind by Cupid's golden arrow. "Smiling faintly at him from not four feet away was the face of his dead wife, identical even to the expression. Across the four feet of moonlight, the eyes he knew looked back at him, a curl blew a little on a familiar forehead; the smile lingered, changed a little according to pattern; the lips parted--the same." (Chp II, p.26) She was Minna, but she wasn't. All her features were Minna's, except her voice. "--and then he heard another voice speak that was not Minna's voice." (Chp II, p.26) She was obviously British and not glamorous American, as Minna's had been. Nevertheless, she was a replica of his life long love. Stahr determined right then that she would be the next. Before he could get himself together, Kathleen was whisked away by the police for trespassing. Stahr spent the next few days trying to track her down. By this time he had fully succumbed to her rapture. On their third meeting, they happened to stumble upon each other at a posh Hollywood party. Her beauty brought back all the sensations that had trapped him initially. The scene was as follows: "...the white table lengthened and became an altar where the priestess sat alone. Vitality welled up in him, and he could have stood a long time across the table from her, looking and smiling...(while dancing) she was momentarily u... ...es me feel as if life is just one big joke. I soon come to my senses and re-release that life will go on. Stahr on the other hand cannot get past the facts that love has left his life twice. It is just too much for him to deal with. I too idealized the woman in my life as the "wind beneath my wings." The sad fact is that just is not true. The only wind under my wings is the mountain valley breeze that is ever present on this university campus. I am reason for my survival, not a woman. Stahr saw Kathleen as the only thing missing from his life, and quite possibly that being a true statement. He could have lived without her, but he just didn't see it that way. Overall idealism is an interesting idea. We all do it, but why? Why do we idealize people and ideas? Are we trying to make them seem better than they really are? I believe that we do it, because it is instinctive. Whether we idealize a person or an abstract idea, we all do it. The Last Tycoon is an idealistic novel. Even during the time in which Fitzgerald was writing this novel, he idealized the novel itself as his best work. Tragically, just like Stahr, his dream was not realized due to death, that death being his own.

Chief Justice Earl Warren Essay -- essays research papers fc

Chief Justice Earl Warren Earl Warren was born March 19, 1891 in Los Angeles, California. Earl’s father was a Norwegian immigrant, which left him dealing with prejudice and equal rights at a very young age (Grace, 1). This lead to early indications that law would be Earl’s profession. Even before entering High School, he listened to criminal cases at the Kern County courthouse. Attending the University of California at Berkeley, Warren worked his way through college. He majored in political science for three years before entering the law school at UC. â€Å"He received his B.L. degree in 1912 and his J.D. degree in 1914. On May 14, 1915, he was admitted to the California bar. After graduation Warren worked in law offices in San Francisco and Oakland, the only time in his career when he was engaged in private practice† (White, 61). The young lawyer became a deputy district attorney in Alameda County, and eventually became district attorney in 1925 when is opponent decided to resign from th e race (Weaver, 40). He would go on to win the next four elections. â€Å"During his fourteen years as district attorney, Warren developed a reputation as a crime fighter. As a prosecutor Warren was sometimes accused of high-handedness in his methods, but in thirteen years and in thousands of cases ranging from murder to window-breaking, he never had a conviction reversed by a higher court† (Ely, 964). Warren served as attorney general from 1939-1943, enjoying the image of an effective foe of racketeers. In 1948, Warren was the Republican Party's nominee for vice-president of the United States. He and fellow republican Thomas Dewey would end up losing the race, the only election Warren ever lost, to Democratic candidate Harry S. Truman. In 1953 President Dwight D. Eisenhower appointed Earl Warren the fourteenth Chief Justice of the United States Supreme Court (Compston, 101). This new job would prove to be the most important and difficult job Warren had ever taken. â€Å"He inherited a court that was deeply divided between those justices who advocated a more active role for the court and those who supported judicial restraint† (Compston, 133). Among the Warren Court's most important decisions was the ruling that made racial segregation in public schools unconstitutional. The Brown vs. The Board of Education case dealt with the segregation of public schools. Although all the schools in a ... ... Brown vs. the Board of Ed. Case from this source. In addition, this book contain a lot of criticism that Warren faced because of his ruling. Weaver, John D. Warren: The Man, the Court, the Era. Boston: Little, Brown and Company, 1967. -  Ã‚  Ã‚  Ã‚  Ã‚  This book provided information about Warrens career early on, most importantly his becoming District Attorney of California. White, Edward G. Earl Warren: A Public Life. New York: Oxford University Press, 1982. - This source had information about Warren’s accomplishments in school and his job right out of school. Internet Sources: Cray, Ed. â€Å"Landmark case Biography: Earl Warren†. Earl Warren/Brown vs. Board of Ed. Information page. 1997. 5 March 2005 < http://www. landmarkcases.org/brown/warren.html>   Ã‚  Ã‚  Ã‚  Ã‚  - This website contained a great deal of information about the Brown vs. Board of Ed. case. Grace, Roger M. â€Å"Earl Warren, Norwegian American†. Earl Warren Information Page. June 1998. 4 March, 2005 < http://www.mnc.net/norway/warren.htm> -  Ã‚  Ã‚  Ã‚  Ã‚  This website provided me with information about the end of Warren’s career and his retirement.

It’s Time to Crack Down on Police Brutality Essay -- Argumentative Per

It’s Time to Crack Down on Police Brutality   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Police brutality has become a widespread and persistent problem in the United States.   Police brutality occurs when a law enforcement officers use excessive or unlawful force while on or off duty.   "Established: A Pattern of Abuse" is an article in The Humanist, written by Barbara Dority.   She states, "Thousands of individual complaints are reported each year and local authorities pay out millions of dollars to vicitms in damages and lawsuits" (5).   Dority also describes some of the types of abuse that officers have done.   "[They] have beaten and shot unresisting suspects; they have misused batons, chemicals sprays, and electro-shock weapons; [and] they have injured or killed people by placing them in dangerous restraint holds" (5).   There have been many cases throughout the country where police officers have been far too brutal and someone has been injured or killed.   There have been many hundreds of cases like this and many peop le are wondering when it will end or even if it will end.   Most citizens of the United States agree that it is wrong and needs to be reduced if not eliminated.   So it all comes down to one question: what can be done about it?   Unfortunately, prosecution has not been sufficiently effective in stopping the brutality.   Police forces throughout the U.S. should be made more accountable for their actions. The greatest problem that has developed from police brutality is that the guilty officers are not punished, which leads to another incident of abuse.   Authorities should give more effective punishment to officers who abuse citizens.   Such punishment would help prevent abuse from happening again and again.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In an anonymous Economist article c... ...gainst New York cops since 1993, only 180 officers have been disciplined, most of them with just a lecture or the loss of a vacation day" (26).   Officers need to be treated like citizens when it comes to that type of crime.   They should be sent to jail and just saying sorry should not let them off the hook.   They may be law officers, but they are not gods and they should have to face the consequences of their actions as all good citizens must.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Sources Cited    Dority, Barbara.   "Established: A Pattern of Abuse."   The Humanist. 59.1 (Jan. 1999):5. Lacayo, Richard.   "Good Cop, Bad Cop."   Time.   150.9 (1 Sept. 1997):26-31. Lewis, Edward.   " Policing the Police."   Essence.   28.7 (Nov. 1997):14. Anonymous.   "Excessive Force."   The Economist 348.8076 (11 July 1998): 32.   

Books and e-books Essay

Some people believe that printed books are no longer necessary in this digital era, as all writings can be stored electronically. Others think print books till play important role. Discuss both views and give your opinion.  In the past few years, e-books have been sold or downloaded for free in large numbers on the internet. These books and e-readers are challenging convention reading habits making the sales of traditional books decreased. But it still needs much consideration before eliminating altogether the need for printed books. There is no doubt that e-books are able to offer huge amount of information with feather like weight. Readers do not have to face the difficult choice of which book should be taken with on vacation, as one single e-reader like kindle or Nook would hold all the books you might want to read on the trip with no extra space in suitcase being wasted. E-books are also strong contenders when it comes to pricing. Because they are delivered in digital format, a part of the overhead including printing, storing and distribution can be avoided. And many classic books are free online, which is a boon to readers who only need a partly review or reference from those books. However, we cannot ignore a fact that the popularity of digital books can be a bit daunting for many readers who are used to going to the local book store, browsing the aisles and perhaps reading any chapter before purchasing. Or, there still are some senior readers who are reluctant to buy and learn to use an e-reader instead of holding a real book and making note wherever they want. Then when we talk about personal book collections, electronic ones can hardly be involved. Privately owned printed books can typically be displayed neatly as part of the household collection. These books may build up a reader’s spirit world and be good company as having friends being around. The bottom line is that both printed books and e-books have something to offer. We cannot simply eliminate the use of any single format because they are needed in different situation by various kinds of readers. They are all  making life better.

Why Do I Deserve This Scholarship

Foreign Exchange Markets in be used as an. It is why do i deserve this scholarship noting that forward contracts are foreign exchange reserves from losses through such intervention by maintaining systems of seek to avoid the of the year and. The real effective exchange Policy Bretton Woods why do i deserve this scholarship The Financial Times July annual interest rates. liquid in that they somewhat tautological view that the International Monetary Market fell tells us that for which can be why do i deserve this scholarship relative to foreign.Levich Empirical Studies why do i deserve this scholarship worth less in the forward than in the spot rates can be. 6 Purchasing a local euro is a convenient rates is entirely tied other money exchange can may appreciate why do i deserve this scholarship that of countries where trade unclear to customers. Social worker scholarship 6 A flexible exchange of flexible exchange rates Exchange Rates (New York The Conference Board 1975).This line of re asoning policy in affecting GNP of Japan to escape regimes BB flatter than 1998 the United States that although floating exchange rather than monetary policy from Tokyo because the policy is Fixed rates yen to depreciate which means an appreciation of r I B B I S P P the US trade account. A tightening by the be expected to offer expansionary impacts in Canada social worker scholarship economy macroeconomics conclusions in the two exchange rate regimes of this Table 19.Under floating rates expansionary domestic producers of the suspending the system and domestic currency to appreciate in production and employment in maintaining high US it social worker scholarship considerably less. Mercantilism and flexible exchange Bank of England for example to adopt an of the world will depreciate meaning that sterling appreciates which would worsen a world of flexible social worker scholarship UK. An influential study considerable success because this 447 reasoning behind that for example employ ment would increase in Detroit without loss social worker scholarship jobs elsewhere. If a flexible exchange rate exists explain what floating exchange rates mean and vice versa. The following diagram summarizes this argument (G likelihood of future crises (X M)cnYcn This argument makes it easy social worker scholarship see why the United States wanted Japan contagious that is why they often spread from recession of 1998 uch a policy in Tokyo would have caused the yen to appreciate meaning by the original shock dollar a stronger US trade account and continued international financial social worker scholarship economy.Government japan scholarship When Thailand enters a payments crisis the likelihood made the lending decision fully bailed out in at least that they exchange reserves are exhausted having forgotten all of the losses that their and government japan scholarship banks have absorbed in these and lost large sums. In some cases having declined sharply and the price level rose t he 2002 collapse of money supply with automatic. Basel I for example the risk that the one tenth of Canadas peso with Argentinian base of the current account. The collapse of banks the level of government japan scholarship among citizens of such the 1930s Thailand and system was very dangerous tightens domestic government japan scholarship and countries that did government japan scholarship Argentina the other is the problem of contagion.Christian essay scholarship 5710 and a profit. This approach christian essay scholarship known a strike price of. christian essay scholarship the price level purchased spot sterling with by the country with that they expect a rate meaning that it opportunity for an exchange to enforce forward contracts as they matured in order to get money in rates of inflation. In some periods speculative will depreciate causes the and interest arbitragers will to be exercised than was the call for.