Student ID: 7095822 Page 1 of 7
Question 1
Canada Goose has shown excellent performance and numbers ever since Dani Reiss took over as CEO of the company in 2001. In the decade since, the company has registered an astounding 4000% growth leading many in the industry to deem Reiss as a visionary. Canada Goose has established strong markets in many European countries, especially the Scandinavian ones in addition to its home base in Canada. What is more surprising is that the company has been able to achieve such phenomenal success at the most meagre of marketing budgets – marketing including salaries accounted for 10% of Canada Goose’s total revenue. Organic marketing, including word of mouth marketing were the company’s biggest draws and
…show more content…
Reiss and his team have indeed developed an enviable brand in Canada Goose and from here there is only one way to go to – forward.
Question 2
Canada Goose is truly at an enviable position at this point in time. The brand commands excellent sales, has immense awareness and demand for its products actually is far more than the supply. There are certain advantages that come along with such brand strength, I’ll discuss three of these in what follows.
Ability to Innovate
The company has shown excellent numbers ever since Reiss took over as CEO and is financially in a position to reinvest profits into developing new product lines. Indeed innovation has been the hallmark for the brand and the company has consistently developed products that are not only technologically at the cutting edge but also are up to date in terms of fashion as well.
Premium Pricing
Since the demand for the brand has traditionally outstripped supply, the company can easily and without loss charge a premium from its customers. As mentioned the company sells its products at a 100% markup and which in turn translate into increased revenues.
Selection of Distribution Channels
Canada Goose’s impressive numbers lend to it a semblance of autonomy. The company is in a position to dictate its terms and conditions to distributors, rather than the other way round. Traditionally the
• The company has the opportunity to grow in various markets and aquire new customers such as malls, hotels, offices, and motels not only in Canada but as well as the United States.
SWOT Analysis: Paradise holds strong buyer power which enables it to bargain for lower price and discount. As market leader and Quebec company, Paradise can promote itself through reminding customer about company hisotry to strength their preference and loyalty . The weakness lands at that Quebec is the only market in Canada; the collapse of one location will damage the entire business. The threat mainly lands at pricing competition from FunTours.
Always a threat, foreign substitutes and the threat of new competition are very real. Our three main competitive advantages will be able to transfer to Canada. The pleasing experience
Tim Hortons is currently recognized as the largest fast food restaurant chain in Canada. It provides a variety of products that are appealing to a broad range of costumer choices and the prices are relatively attractive for most of the consumer range. They prices are priced low and that’s why they are often favored by people. The company’s product line consists of premium coffee, espresso-based hot and cold specialty drinks (including lattes, 3 cappuccinos and espresso shots, specialty teas, fruit smoothies), home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods.
Canadian Tire was first started in 1922, my brothers AJ and JW Billes in a Toronto garage bought for $1800. A brief example of the chains endurance through time, is when they had tried to open their own chain of gas stations in Canada back in the 1950’s. When oil companies had cut off their supply, Canadian Tire bought sixty million gallons of gas from the USSR during the peak of the Cold War. Another issue was during the 90’s when internal affairs between head office and dealers, lead to product shortages and the nickname “Crappy Tire” (Holloway). Today, Canadian Tire has grown into one of Canada’s largest retail chains and is a “scrappy symbol of Canadian
Along with being known as Quebec’s “crowned jewel”() bombardier has made itself a name throughout the country since it was first founded in 1942.() Even though its popularity made it easy for Bombardier to launch such an ambitious plan as the C-Series, many Quebec taxpayers are wondering if it is worth continuing to invest into their beloved gem. Bombardier shares have fallen drastically over the last year as they announce that they are accumulating more and more debt. Their one year return is looking dreadful with a whopping -60.88%. If the situation couldn’t seem worse for investors, professionals say that “there are not seeing profitability in the C-Series until 2020.” () Also, whilst Bombardier’s C-Series has been falling behind schedule, Boeing and airbus have interpreted this as a chance to a “head start” and have begun fitting their older aircrafts with newer engines so they could sell mass amounts of their “new”
Canada Goose should expand their distribution of its product to Eastern Europe starting with Russia since it is a country with severe winter conditions. This will assure Canada Goose growth without the risk of saturating the
The brand is transforming to be “more energetic, affordable, and broadly appealing” (Annual Report, 2014, p. 26) to various customers by improving the “menu, service, atmosphere, and communication” (Annual Report, 2014, p. 5). With “innovation and
We look around ourselves everyday and see many brands and logos. Some of these brands and logos that we see are fancy and pleasing to the eye, but all come with a price. There are many varieties and many categories that these brands produce products in. Social media, the masses, and resource quantity are all factors of why these sought after products are very pricely. Man or women are willing to pay extra money for a brand name. Whether it may be the elderly, young, man, or woman, if it has a well known name on it, people are willing to pay more money for it than a similar version.
Cape Breton Boat Rentals is a boat rental company owned by Bruce MacLean and operated by his brother Malcolm Maclean. Although their reception was welcoming in the year 1988, their selling price could be said is at below the actually operating cost. To avoid the same situation in 1989, the MacLean bothers had to improvise and make aggressive decisions like for example tripling their advertisements. We will show possible ways and methods on how they would have improved in marketing concepts. We will go through the marketing characteristics, marketing mix and marketing concepts that were and should be applied. We feel Malcolm MacLean is stealing money from the business.
the success of the company. The pricing strategy adopted by the company for its highly durable
The company’s pricing strategy also helps fulfill a need not being met by any of Nike’s closest competitors by having an overall superior product compared to those of competitors.
The company has experienced steady growth since its inception in 1950 the company faced intense competition in the 1990's, the effect of which it sought to offset by tailoring its merchandise to suit customer’s preference at each store location, stepping up its advertising program, remodeling some stores and expanding others and broadening the scope of its product lines too include gourmet food and gift ware.
The last alternative could be to create a better marketing about their products, to compare their brand with the competition so the market can understand that the differences between prices is because of the good quality, the brand name, the knowledge, and that they are the only ones, the expert ones on those kind of products.
1. Brand awareness – being a newcomer in the market will create difficulty in gaining acknowledgement; however, I feel we have a terrific product and a solid business model that will eventually speak for itself.