Overview: Over the past six decades, marketing has come a long way from the time it amassed wide focus and today almost every enterprise, big or small considers it as the most important factor of its functioning and product. With constantly changing themes and focus in marketing from product to customer to brand, the latest buzzword in the marketing arena these days is ‘Social Media Marketing’ which takes a more human centric approach. Although in its nascent state, the concept of social media marketing is quickly becoming popular and expanding to majority of the social media avenues with more and more corporations either experimenting with this sizzling phenomenon or adding it to their marketing mix. With marketers shifting focus back to consumers – the new brand owners, will social media marketing be the ultimate ‘branding’ technique?
The world’s leading sports footwear company, Nike which was founded on a handshake is now determined to embrace the environment. Nike’s vision is to create a sustainable economy with planet, people and profit go hand-in-hand. Nike is thus, focusing on sustainable manufacture of its products, sustainable development of their products and the conception of a sustainable marketplace. Nike is determined to design products and persuade their supply chain to create less waste and protect the interest of sports around the globe.
Since 1990’s, Nike is making efforts to reduce its environment footprint by practicing several steps like recycling shoes, phasing out sulfur hexafluoride and manufacturing sports accessories from waste and working along with different NGOs. Nike had also introduced a product line “Considered” in 2005 which insists on designing the products on the principles of sustainability.
In FY05-06 CR Report of Nike, they shared an ambitious 5-year plan where the designers were expected to design shoes using fewer quantities of detrimental adhesives and more of recycled material. This concept was also proposed for apparels and sports equipment. In their report, Nike announced that they were aiming at making their facilities and business travel climate, neutral by 2011. Nike had also set a target of manufacturing its footwear with the minimum environment standards by 2011, their apparels by 2015 and sports equipment by 2020.
Serving more than 58 million customers every day, McDonald’s Corporation is the world’s major chain of hamburger fast food restaurants. The name as well as the hamburgers is “digested” easily by celebrities or common man. To pursue its endeavors in emerging markets, McDonald’s stalled its growth in developed nations and leaped in Russia which had emerged as a major economic force in the world.
It was George Cohen, head of McDonald’s Canada, who started an almost impossible dream of introducing a McDonald’s hamburger in Russia. It took 12 years of efforts and finally in April 1988, he convinced the officials of Moscow that McDonald’s can be set up in Russian culture. After 14 years of intense negotiations; McDonald’s finally entered into the Soviet Union on January 31, 1990. This flagship store located in Moscow’s Pushkin Square, was the world’s largest McDonald’s boasting of 28 cash registers and seating capacity for around 700 customers. The first day of McDonald’s in Russia broke the record for inaugural sales in McDonald’s history serving more than 30,000 customers on the first day itself.
The Pushkin Square McDonald’s is the world’s busiest McDonald’s restaurant serving more than 20,000 customers daily. As the fast food market in Russia is growing rapidly, McDonald’s is trying to expand its presence throughout the country.
The Economist, an English language weekly publication conducted a survey of republic of Ireland in January 1988. The published survey slammed the Irish economy and titled it as “Poorest of the Rich”. The report portrayed a young girl begging on the street and described the Irish economy as the poorest country amongst the rich north-west Europe.
It seems that the Irish economy just needed a tonic which was well served by the “humiliation” in the January 1988 edition of the Economist. Many desperate measures were taken in the fields of government and unions, investments, taxes and much more. As a result of consistent efforts, Ireland experienced an economic “boom” which completed their extraordinary journey from being considered as a tiny, ex-peasant and poor economy to one of the wealthiest economies.
Just 10 years later, the Economist featured Ireland on its cover page and honored the economy by addressing it as “Europe’s Shining Light” and also remarked that the Irish economy was getting richer all the time.
The term “Celtic Tiger” is used to define Irish economy and the time frame when it rose from rags to riches. This term was coined in August 1994 by Morgan Stanley. Many experts are trying to replicate this model of new growth theory to bring up other economies as other countries are tempted to achieve the same growth.
The Irish economy experienced a rapid growth in the period 1995-2007, and this golden period came to a halt in 2008, whereas in 2010 the GDP contracted by 14%.
- Study the reasons that how the lackluster growth performance moved up to the ladder of high growth path in such a short span of time.
- The measures which Ireland took to increase the budget surplus and lower the level of indebtedness.
- In a short span of time, the country transformed its alarming levels of unemployment with almost full employment.
- Challenges that Celtic Tiger faced in “The Boom” period and the challenges awaiting for it.
- The fall of Irish GDP and GNP in 2010.
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