Bric Analysis Essay - 11111 Words

Polity . Volume 42, Number 1 . January 2010 r 2010 Northeastern Political Science Association 0032-3497/10 www.palgrave-journals.com/polity/ Brazil, the Entrepreneurial and Democratic BRIC* Leslie Elliott Armijo Portland State University Sean W. Burges University of Ottawa By most objective metrics, Brazil is the least imposing of the ‘‘BRICs countries’’— less populous than China and India, slower-growing in recent years than China, India, or Russia, and the only member of the group lacking nuclear weapons. We argue that Brazil’s material capabilities are more significant than commonly supposed. Moreover, Brazil’s democratic transition in the mid-1980s, along with that of its neighbors, has for the first time enabled Brazil to†¦show more content†¦We are important because of our deportment and, above all, our objectives.’’1 As a large democracy determined to steer a course independent of the major advanced industrial states that have dominated global politics since the mid-twentieth century, Brazil perhaps calls to mind the India of Jawaharlal Nehru in the 1950s and early 1960s. Nehru sought through the Non-Aligned Movement (NAM) to claim the moral high ground between what he viewed as two equally imperialist camps of Soviet Communism and Western capitalism. But a more appropriate heuristic might be Brazil as the new Canada, a close ally of the United States, with whom it shares liberal democracy and a capitalist economy.2 Brazil’s recent assertiveness around SouthSouth cooperation and rebalancing of representation in international organizations constitutes a bid for greater global influence, implicitly at the expense of  ´ 1. Luiz Inacio Lula da Silva, ‘‘Discurso durante cerimonia em comemorac ¸ao ao Dia do Diplomata,’’ ˆ ËÅ"  ´ Palacio Itamaraty, BrasÄ ±lia (7 May 2009), authors’ translation.  ´ 2. Andrew Cohen, While Canada Slept: How We Lost Our Place in the World (Toronto: McClelland and Stewart, 2004). 16 POLITY FORUM: Brazil — Entrepreneurial Democratic BRIC the traditional Western European powers, but does not threaten the values underpinning the liberal world political economy: Brazil is the quintessential ‘‘responsible stakeholder.’’3 Brazil pursues its aims of greater voice in globalShow MoreRelatedComparison of Basic Economic Indicators of Bric Nations4949 Words   |  20 PagesComparison of Basic Economic Indicators of BRIC Nations Abstract In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. It is typically rendered as the BRICs or the BRIC countries or the BRIC economies or alternatively as the Big Four. Table of Content 1. Introduction 4 2. Statistics 5 3. 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Five Industry Forces Read MoreBusiness Environment of China France Hongkong Essay653 Words   |  3 Pagescurrent position of the three countries P.4 1.3 SWOT and TOW S Analysis for Koyo Jeans in the three countries analysed P.5 Part 2 Drivers to Internationalisation 2.1 Motivation for Koyo Jeans entering emerging Markets P.6 2.2 Environmental Analysis in Brazil and India P.6 2.2.1 Findings on comparison between Brazil and India (PESTEL 5Forces) P.6 2.2.1.1 PESTEL analysis P.6 2.2.1.2 Porter’s 5 Forces analysis P.6 2.3 Comparative, Competitive Advantage and NationalRead MoreLiFung Case Study Analysis1116 Words   |  5 PagesStrategy Management (Case study 1: Li Fung) ï  ­ SWOT Analysis Strength Opportunity ï  · Extensive network of suppliers (global reach supplier with SCM) ï  · Provision of value added service (customer centric structure) ï  · Entrepreneur corporate culture ï  ·Low –end with hard goods ï  ·Emerging Market Weakness Threaten ï  · Over dependence on US Market ï  · Vast supplier network makes it tough to maintain ï  · Increasing expense from acquisiton ï  · Continuing global economy downturn - Collapse of the AmericanRead MoreImpact Of Globalization On Economic And Political Growth1327 Words   |  6 Pagestrade flows thus they work as a barrier to market admission †¢ Social: these focus on poverty, income distribution and unemployment. 2.2 Brazil as a â€Å"BRIC-country BRIC countries are collective economies of Brazil, Russia, India and china in which they are called the BRIC. They represent 25% of the worlds land mass and 40% of its population. The BRIC nations have gained influences over the international decision making method therefore they have been ruled by the industrial countries such as the G-7Read MoreRise of Brics Economy and Its Impact on Global Stock Markets9547 Words   |  39 PagesJournal of Commerce, Business and Management (IJCBM), ISSN: 2319–2828 Vol. 2, No.1, February 2013 Rise of BRICS Economy and its Impact on Global Stock Markets Naganathan Venkatesh Research Scholar, NITTTR, Chennai, India Abstract The world is changing and becoming increasingly multipolar due to the emergence of China, India, Russia, Brazil and South Africa forming so called BRICS. The global influence of America is fading out due to the recent decline in their stock market and the emergenceRead MoreImpact Of Global Financial Crisis And Emerging Markets7336 Words   |  30 PagesGLOBAL FINANCIAL CRISIS (SP 500) AND EMERGING MARKETS (BRIC) 1 IMPACT OF GLOBAL FINANCIAL CRISIS: DEVELOPED (SP 500) AND EMERGING MARKETS (BRIC) 23 Impact of Global Financial Crisis: (SP 500) Emerging Markets (Bric) Name Institution TABLE OF CONTENTS CHAPTER PAGE ABSTRACT 3 CHAPTERS CHAPTER 1 – Introduction 1 CHAPTER 2 – Methodology 6 CHAPTER 3 –Literature Review 24 CHAPTER 4 – Analysis and Results 38 CHAPTER 5 – Summary, Conclusion, RecommendationRead MoreBmw in Bric Countries2164 Words   |  9 PagesBMW Using a BRIC localization strategy to maintain global leadership in luxury automobile manufacturing Achille MOLLON, Aleksander OLECHNOWICZ, Ania, TWOREK, Celine PAN, Jade CHAN, Sophie SCHAEFGEN, Viktor MIKUS Content †¢Ã¢â‚¬ ¯Introducing BRIC †¢Ã¢â‚¬ ¯Company Snapshot †¢Ã¢â‚¬ ¯RD †¢Ã¢â‚¬ ¯Sourcing †¢Ã¢â‚¬ ¯Manufacturing †¢Ã¢â‚¬ ¯Sales BMW Winning the BRIC Auto Market BRIC market performance Ââ€"ï‚â€"†¯ By 2014 BRIC will account for 30% of the world sales Ââ€"ï‚â€"†¯ As a  whole is growing by 3%-15% per year between 2009 and 2014 Ââ€"ï‚â€"†¯Read MoreThe Bric : A Powerful Force1240 Words   |  5 Pages Economic Integration The BRIC a powerful force in the global environment but do they have the power to shift the center of gravity away from the traditional G6 and over to the BRIC? First it is imperative that we understand who and what the BRIC is and how they interact in the economy. Moreover, it is vital to discern how quickly the economy can be altered and the implications that that change has on the rest of the world. An economic growth can stimulate the entirety of a country or it can singularlyRead MoreWhy China Can Attract More FDI: A Response to Competitiveness in India and China: the FDI puzzle1475 Words   |  6 PagesIndia and China: the FDI puzzle In 2008, a serious financial crisis swept the globe, causing many countries economies sunk in depression or recession. After four years, some emerging economies, such as China and India which are the members of the BRICS (the acronym of Brazil, Russia, India and China, which are at a similar stage of newly advanced economic development), firstly got rid of the effect of this financial crisis. Therefore, these emerging economies begin to draw more economists attention

Generalized Anxiety Disorder - 1142 Words

Generalized anxiety disorder (GAD) is a disorder of shared self-reported symptoms. It goes with tension, uncontrollable worrying, sometimes muscle pain, trouble sleeping, and irritability that all together impair work ability, relations, and leisure activities. It is a common condition and there are psychological and pharmacological treatment options are available for anxiety disorders but not all patients respond to the same treatment as others. Finding a good treatment can take many months or sometimes longer. Patients just have to go through the adequate treatment trials for the right amount of time. There are six major forms of anxiety disorders, each with their own distinct symptom: panic disorder, obsessive-compulsive disorder (OCD), post-traumatic stress disorder (PTSD), social anxiety disorder (SAD), specific phobias, and the most common generalized anxiety disorder (GAD). Most anxiety disorders are treated with behavioral therapy, medication, or some combination of the two. Sometimes complementary or alternative treatments may also be helpful. KEYWORDS: Social anxiety disorder, obsessive-compulsive disorder, posttraumatic stress disorder, generalized anxiety disorder, anxiousness Anti-Anxiety and Anti-Depressant For my paper I will write about depression and anxiety disorder. I will describe the difference between anxiety and depression then proceed to state what you can do for the treatments. For the treatments, I will list the types of medications, whatShow MoreRelatedGeneralized Anxiety Disorder771 Words   |  3 Pagescountry are affected, it is estimated that â€Å"5% - 6% of teens ages 13-18 are affected by this troubling disorder, not including the teens that receive no treatment,† (â€Å"Generalized†). Youth that receive no treatment could be considered are under privileged. Meaning that they do not have the resources or are very limited to resources that could help them get the proper treatment for their disorder. Many of those adolescents are children that come from low income families, single family homes, or fosterRead MoreGeneralized Anxiety Disorder Essay1602 Words   |  7 Pagesï » ¿ Case Analysis: Generalized Anxiety Disorder (GAD) Bryan Wood Abnormal Psychology Professor Powell April 14, 2015 Bryan Wood Mr. Powell PSY 322 April 14, 2015 Case Analysis: Generalized Anxiety Disorder (GAD) â€Å"During a panic attack, the first thing you want to do is get out of the situation that is causing it. However, since most professors find it disrespectful to leave during class, I had to sit for an hour and half in this agonizing state†¦It was as if I had terminal cancerRead MoreUsing Generalized Anxiety Disorder?1180 Words   |  5 Pagessmall example of what someone with Generalized Anxiety Disorder may go through on a daily business every moment during their day. The topics that are going to be covered in this paper are what is GAD and what are the signs and symptoms, how does GAD affect the ability to perform normal activities of daily living, and an overall summary with my assigned individual at SDC for his Intensive Learning Project. What is Generalized Anxiety Disorder â€Å"Generalized Anxiety Disorder (GAD) is characterized by excessiveRead MoreGeneralized Anxiety Disorder Is A Mental Disorder That1410 Words   |  6 PagesGeneralized anxiety disorder is a mental disorder that affects approximately four to five percent of the general population. This disorder can be illustrated by excessive anxiety and worry that lasts a minimum of six months and deals with various events or activities. People who struggle with this disorder have difficulties controlling their worry; this worry can permeate into every action or thought which leads to increased anxiety. 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Allgulander2012 GAD pervasive cogn dysfunction w/focus on threat and risk tow indiv/family Tension worry muscle pain sleep dist irritability PsychRead MoreGeneralized Anxiety Disorder ( Gad ) Essay2397 Words   |  10 PagesReview Generalized Anxiety Disorder Generalized anxiety disorder (GAD) is a disorder in which an individual may feel persistent, excessive, and worry about everyday things that may not even happen. Individuals with this disorder may feel worry, excessive anxiety, and have thoughts of the worst even when there is no need for concern. A person experiencing GAD may expect a disaster. They may worry about their finances, money, health, family, work, or any issue that may come to mind. 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One Acre Fund free essay sample

When first looking at Kenya, Postigo had five different suppliers that all met certain criteria he had for doing business. He narrowed down the suppliers by contacting them and asking them for a RFQ. He then, with his knowledge of the market and his product as well as coming to the table prepared, negotiated the fertilizer to an acceptable price that could be offered to farmers enrolled in the OAF program. 1. Fertilizer is a commodity – why did Postigo spend so much time developing a relationship? Shouldn’t he have just set up an auction? Postigo did his homework and understood that developing and building relationships is a very important dimension in the Kenyan culture. â€Å"Kenyan culture’s emphasis on relationships and hierarchy stems from the importance of family. Kenya is a place where you need to get to know people†¦in a room with twenty-five people, you need to shake everyone’s hand† (Negotiating, pg 3). Postigo realized that most of his potential suppliers we located in Kenya. He also knew that if he could make a deal with a vendor in Kenya then the transportation costs would be much lower, thus creating a little more wiggle room for his BATNA. Postigo grasped the importance of building relationships from a different, more strategic purpose. OAF’s short-term plan incorporated rapid growth with regards to the small family farms, which required rapid growth in their requested quantity of DAP. Postigo recognized that in building a relationship he was really opening up their opportunities for the future. If he could guarantee larger batch orders in the future, then he might be able to use that leverage to talk the supplier into lowering the current price. Postigo knew that establishing his desire for a strong relationship would pay off in multiple ways, both satisfying the cultural status quo while also putting a strategic plan into place to realize cost savings in the future. 2. What was Postigo’s BATNA to reaching a negotiated agreement with Dehvi Medji and Sons? During the negotiations for fertilizer, Postigo was concerned with three major issues: delivery date, price, and the ability for growth into the future. Keeping these things in mind, it seems that the best alternative to a negotiated agreement would have come from the current market prices of fertilizer in the area. If he was not able to come to an agreement with any of the suppliers and negotiate a better contract for OAF, then Postigo would simply buy the fertilizer at regular market prices. According to the research, in Nakuru, where both the cost of fertilizer and the cost of transportation were taken into consideration, a 50kg bag could be purchased for 4,000 Ksh (Negotiating, pg 6). This cost of 4,000 Ksh would have been the BATNA for Postigo’s negotiations; However, the BATNA could also have been found in one of the other vendors that were being looked into. If these other vendors had offered him a reliable price then that value could have been seen as Postigo’s BATNA. 3. Should Postigo have spent the time and money to meet face-to-face with all five potential vendors for the purpose of telling them about One Acre Fund, rather than sending them an e-mail? Working for a not-for-profit organization, Postigo understood that he needed to save money wherever possible. Meeting with the vendors in person might have had a larger effect on empathy throughout the negotiation. He might have been able use that to his advantage, but in the end, the benefit would not have outweighed the cost. Postigo contacted five vendors, four of which came back with bids. The first scenario where the cost outweighed the benefit: had he traveled to the fifth vendor, it would have been a complete waste of time and money. Secondly, as soon as Postigo informed the potential vendors of their expected delivery date, a second vendor dropped out of the running, stating that they would not be able to make the delivery date. By sacrificing the face-to-face meetings, Postigo saved a large amount of time and money while still attracting 3 potential vendors; eventually leading to a deal that, from his standpoint, was very successful. . Followup question: Did Postigo pay particular attention to the other party’s needs in the phone calls with Dehiv Medji? Postigo did a very good job of paying attention to Dehiv Medji’s needs throughout the negotiations. They spoke about the affect the Kenyan government might have on both parties, understanding the government subsidies could cripple both parties. He brought up Medji’s opportunity to grow and wanted to be involved in their growth, â€Å"he asked about growth prospects†¦indicated that the two organizations might grow together† (Negotiating, pg 7). Postigo negotiated in a fair and cooperative manner, providing flexibility on delivery dates and transportation costs. â€Å"One of the biggest appeals of Dehvi Medji to OAF was its willingness to fix a price in November for a January delivery† (Negotiating, pg 7). Postigo was very aware of the other party’s needs and acted accordingly. He felt obliged to make the negotiation a win-win scenario and when all was said and done, he did just that. 4. What do you think about Pastigo’s sharing information with Dehvi Medji about OAF’s strategy for the future? Was this a good thing to do? Is this a good way to develop a relationship? In the situation that Pastigo was in an open discussion about the long term goals of the not for profit OAF was a valid opening strategy. It gives Pastigo a fair amount of leverage epically since OAF is planning to have a large amount of growth in the near future, that information alone allows Pastigo to negotiate much harder for present prices with the perceived promise of future growth. It is also a valid and simple way for Pastigo to begin building a relationship with the supplier. By opening with a good amount of information, especially with a local supplier, OAF as an organization can leverage the fact that they are trying to grow the amount of fertilizer used by a large amount of farmers which is good for the fertilizer suppliers. This was also an efficient means to build the relationship the OAF was hoping to have with their future supplier, by showing that they were open and upfront with both the plans and goals of OAF any possible relationship would from more easily. All in all by being open from the beginning Pastigo put himself in a good position to conduct the negotiations. . If Dehvi Medji’s price had been good but not the best, would you still have recommended that Postigo try to negotiate with Dehvi Medji? As we have mentioned before, Postigo was concerned with three major issues: delivery date, price, and the ability for growth into the future. Taking into consideration all of these issues, it could be seen that Dehvi Medji met the other qua lifications for a good supplier in that they could meet the proper delivery schedule in January and they were a small company that had the ability to grow alongside OAF going into the future. Price was only one of the concerns that Postigo was looking at. The case study goes on to state that â€Å"in previous fertilizer negotiations between OAF and Dehvi Medji, the company had settled for 10 percent off its initial offer† (negotiating, pg 7). This indicates that although the initial bid that Dehvi Medji produced might have not been the best, their company was proven to have wiggle room during the negotiations process and could possibly still be convinced to lower their price to become the best price. Although Dehvi Medji might not have had the best initial price coming out of the initial requests for proposals (RFPs), their initial price could be negotiated and they met the other requirements, delivery schedule and ability for growth in the future, that OAF was looking at. Our recommendation to Postigo would be to still enter the negotiation phase with Dehvi Medji, regardless of the initial price bid, in order to further scope out the qualifications of the supplier and possibly discover all of the benefits that they have to offer. . OAF’s founder, Andrew Youn, is a MBA. Given the importance of low-priced, good-quality fertilizer to his company’s ability to achieve its goals, should Youn be considering alternatives to buying from a handful of Kenyan wholesale suppliers? What might those alternatives be? The importance of low-priced, good-quality fertilizer was a major component to the success of the companies but it is doubtful that it was the only goal of the not fo r profit. The goal of the OAF is to help the local small plot farmers become more self-sufficient and by choosing local wholesalers over a foreign supplier can build the fertilizer industry in Kenya allowing local farmers to have better access even if the OAF was to leave the country. It is quite likely that Mr. Youn did consider other options during the start-up process but in the end decided local suppliers would be a better option. An option that they may considered would be using a foreign wholesaler and bulk ship the fertilizer to Kenya and then ship it to the warehouses to break down and disperse to the participating farmers. This option may have saved them enough money on the base product to offset the increase in shipping and handling cost to get the fertilizer into Kenya. This may not have been a viable option in this opening round of negotiation due to the limited amount of fertilizer the OAF was purchasing at the time. 7. Postigo informed the case writers that the Kenyan government did implement its program of buying fertilizer in bulk to distribute at reduced prices to farmers, but that this program did not really affect OAF farmers because they could not afford to travel to government depots and did not have the cash to buy or transport the fertilizer. However, this action by the Kenyan government might have secondary effects for OAF’s negotiations with fertilizer suppliers in the future. What do you think those secondary effects might be? There are a variety of secondary ramifications for the OAF when negotiating future fertilizer purchase form local suppliers due to the government subsidized supply. One obvious problem in the risk that the a current or future supplier may not be able to stay competitive in the fertilizer market in Kenya and will go out of business, forcing the OAF to search elsewhere for their supply of fertilizer. Another less gloomy prospect is with the government subsidizing fertilizer in Kenya the OAF may have a better bargaining position with the local wholesalers, allowing the OAF to purchase more fertilizer with the same investment helping the program to expand faster. This choice by the Kenyan government may also allow the OAF to negotiate with the government to receive the discounted price and focus instead on the transport of the fertilizer from the government depots to the farmers who need it most. 8. In what way did Postigo use his awareness of hierarchy in Kenyan culture during his negotiations with Dehvi Medji? During the second round of negotiations which were exclusively with the Dehvi Medji firm the awareness of the hieratical culture of Kenya was used to help set a price from which Postigo could begin the round of negotiations. This was seen in the sentence on page seven of the case study where Pestigo from looking previous negotiations knew that Dehvi Medji sold for roughly ten percent less than their opening offer. This was an assumption made due to the fact that Postigo was working with decedent of the former managers who made this 10 present discount a way of business. There is also the fact the before the negotiators began discussing price Pestigo first discussed the increase in the price of fertilizer and the effects it was having of the OAF, the likely hood of government intervention, and finally the growth prospects of both the OAF and Dehvi Medji. Only after all of this opening information was shared were the negotiations for price and transportation brought into the negotiation. Both of these considerations made by Pestigo showed he was prepared to enter negotiations with Jiten Patel and allowed them both to come to an agreeable solution. 9. What do you see as the strengths and weaknesses of Postigo’s negotiating strategy for fertilizer in 2007? Postigo had many strengths and weaknesses in his attempt of his first large acquisition of fertilizer for the OAF. His main strengths were the facts that he was knowledgeable about his product and the suppliers he was dealing with as well as the fact he was prepared going into the negotiation process. His main weakness included the fact that he had not built a relationship with his Kenyan suppliers knowing far in advance that that is an essential procedure in Kenyan business culture. He also failed to have realistic expectations when asking a smaller company like Delvi Medji and Sons to potentially supply such a large customer base. The fact that Postigo did not build a relationship could have resulted in Dehvi Medji and Sons’ Jiten patel(the supplier) agreeing with Postigo only to avoid confrontation knowing far in advance they would not be able to meet his needs. Postigo’s knowledge of the wholesale prices as well as his market and expected forecast did allow him however, to accurately predict OAF’s growth and was contributed heavily to his success of getting the fertilizer under the market price of 3,263 Ksh/50kg bag. He was able to work the suppliers down through both price competition but more importantly by providing a â€Å"win-win† situation for both him and the supplier. His main incentive was by doing business with OAF the supplier would grow with the OAF as it expanded its market to 30,000 farmers. He in return expected a supplier to reduce their costs helping the OAF. Even though Postigo had some weaknesses in his overall negotiation strategy by not meeting face-to-face,In the end, Postigo successfully worked to an agreeable solution where both parties benefited in 2007.

Brand Management Owned Companies Management

Question: Discuss about the Case Study for Brand Management of Owned Companies Management. Answer: Introduction: LEGO group is one of the renowned family owned companies occupying a predominant place in the realm of manufacturing industry. LEGO has started its journey in the year 1932 and created a recognizable image among the manufacturing companies. Headquartered in Denmark, Lego aims to develop the mental growth of those children. For this purpose, the products have been designed in such a way that children would like to show their interest to purchase these products. The products and services of LEGO have already created a craze in the current market. The play materials have been designed by making numerous innovative plans and ideas. Children have to apply their mind while using the play material of this particular organization. After the innovation of LEGO bricks, children from different geographical areas have showed their immense positive response towards the brand value of LEGO (LEGO.com, 2016). Moreover, along with maintaining the quality of product, the service providers of this particular organization tend to maintain an effective communication with the customers. Quality service is one of the major parts of raising the brand awareness. After enhancing the demand of market, this particular organization has intended to change their brand strategy as well as pricing strategy as well. The products have been decided to be promoted in such a way that people from different geographical boundary can easily make the best use of those products. Brand exploratory: Brand exploratory is the major source of research, based on which an individual can understand the opinion and perception of consumers regarding the equity and reliability of a particular brand (Annie Jin, 2012). In order to understand what customers are thinking about this specific brand or product, the company tends to focus on several factors that include: Customer awareness: Customer awareness is the integrated part of organizations marketing and communication plan with the help of which the marketing executives tend to reach the doorstep of customers. IMC managers intend to make an effective communication strategy by maintaining the following steps. These are as follows: Position of the brand: Brand positioning has been considered as one of the most effective marketing strategies based on which the company can reach their product or brand to the doorsteps of different customers. In order to position a brand properly in the market, the marketing executives have to be concerned into some of the major factors that include: Use the platform for brand promotion: Organizations should use the popularity of media based on which the brands can create a market demand (Sola, 2012). Media is nothing but the tool with the help of which the customers would be able to know necessary information on the reliability of products. LEGO generally intends to utilize the popularity of electronic media as well as new media both. Children are not well accustomed in operating new technologies (Balmer, 2012). Therefore, the organization has decided to use the platform of electronic media so that the children can also show their interest for purchasing these kinds of innovative products. Maintain effective communication: Effective communication is highly important in order to collect the feedback of customers as well as making an effective interaction with them. Apart from the platforms of media, LEGO believes in direct marketing based on which they can communication directly with the customers (Dinnie, 2015). The marketing executives like to visit directly with the target consumers in order to communicate with them for colleting an immediate feedback. After promoting the product with the help of direct marketing, the sales executives get the opportunity to interact with the target audience directly in order to know their needs and demands (Selnes, 2013). Based on the needs of customers, LEGO tends to re-form their brand strategy and policy. With the dynamic progress of civilization, the needs and demands of the customers are changing day-by-day. Effective communication is the major tools to keep a constant update about changing needs and demands of the customers. Target market: Target market is the selected group that a specific company wants to select as their future or chosen customers. Before analyzing the target market LEGO has primarily selected three aspects as a matter of consideration in order to enhance customer awareness. These include: Demographic: As per demographic market segmentation, LEGO has chosen 3 years to 15 years age group customers for their target market (Rosenbaum-Elliott et al., 2015). People having average income level would be able to afford various innovative toys for the customers. Geographic: Geographic market segmentation is primarily concerned with the market size and the progress of market based on which LEGO can promote their brand (Qian, 2014). Apart from Denmark, the brand managers of LEGO have to decide expand their business in Enfield, USA, UK, Shanghai, China, Singapore and so on. The marketing size of these areas is vast and wide (ErdoÄÅ ¸muÃ…Å ¸ Cicek, 2012). Therefore, marketing executives of this organization has decided target those geographic areas for circulating their creative toys. Psychographic: Psychographic target market segmentation is based on the values, culture and beliefs of people. The playing materials that have been designed by the product designers of LEGO do not follow any kind of religious gender biasness (Loureiro, Ruediger Demetris, 2012). The products have been designed in such a way that people from various cultures and backgrounds would like to show their interest for purchasing products and services. Brand association: Brand association is the attributes with the help of which customers get a positive vibrant from the specific brands. Customers in general tend to provide their positive feedback in using the products and services only when they get a positive response from the celebrities or legend personalities. Brand performance and personality: After conducting a market survey, the IMC managers of LEGO has evaluated that, a large number of customers from different countries have showed their positive response both on the brand quality as well as brand services. Therefore, it is evident that the product manufacturing strategy made by the brand managers of LEGO is getting successful day-by-day. In order to create a personality of a particular brand, celebrity endorsement has been considered as one of the major tools (Gatti, Caruana Snehota, 2012). Celebrities help to create a demand in the market. LEGO in order to promote the brand in various countries tend to utilize the popularity of celebrities. The ICM managers intend to promote the brand in various countries with the help of media so that people from different geographical boundaries can get an in-depth overview about the reliability of brands. Portfolio of the brand: As per the current market situation, LEGO has become one of the leading toy makers among numerous renowned toy-manufacturing companies around 55 countries. This particular group from the very beginning tries to maintain brand value strategy within the organization based on which the manufacturers have provided many innovative, interesting as well as creative playing materials to the target customers (Freling Forbes, 2013). Competitive positioning: Before maintaining the promotional activities, LEGO should conduct, an effective market survey based on which they would be able to position their brand more effectively than the competitors. The entire business process and the products of LEGO are based on new technology. In order to position the brand amidst competitive market, the steps that LEGO should follow are like this: Using the popularity of digital media; various platforms of social media would help to reach the games of LEGO to the people of various geographical boundary Using hoardings, banners in order to make an effective offline promotion Maintaining personal selling as well as direct marketing for collecting an immediate feedback from the customers SWOT analysis: In order to form an effective brand strategy, the product managers like to make an internal analysis to acquire knowledge on strength, weakness, opportunity and threat of the company for manufacturing and circulating innovative toys to the children. SWOT analysis Description Strength Creating innovation products that help to enhance the knowledge and skill of the children Acquiring a recognizable place as a top most toy manufacturing brand among 55 countries Maintaining diverse management inside the organization as well as brand circulation Creating a distinct image than other video game players manufactured by other countries Weakness Children who are having the lack of knowledge and experience of using online games would not be able to purchase the products of this organization Brand managers fail to keep a constant record about changing needs and demands of the customers Online games of LEGO has faced the loss of market share Lack of product variety Opportunities Enhancing the varieties of products Implementing more diversification with the organization Expanding the entire process of business in the realm of international market Preparing the entire market segmentation strategy more effectively so that the IMC managers can enhance the target market Promotional tools should be increased Threats Competitors market strategy has been considered as one of the major threats for LEGO Downfall of the share market in online games has become one of the major threats for LEGO for maintaining the image and reputation in the market The plans of starting new cartoon channels has become a major threat as well as major risk for the company Implementing the plan of staring outdoor games is possessed with immense risk factors Table 1: SWOT Analysis (Source: Iglesias Bonet, 2012) Summation of SWOT analysis: After conducting an effective SWOT analysis, it can be evaluated that LEGO has already created an impression in the realm of toy manufacturing industry among almost 55 countries. At the same time, it is undeniable that this particular company is very much restricted within stipulated target market. People who are not accustomed with advanced technology would not be able to use the service as well as products of LEGO. Therefore, stipulated target customers have become a major threat for this organization. As a result, the online games of LEGO had faced a serious downfall in the share market. In order to overcome the competitors market threat, LEGO should enhance their range of target customers. Conclusion: This particular study has provided an in-depth overview about the importance of brand management. Maintaining the quality of products and services can never be the suitable ways of rendering organizational success. In order to reach the brand to the doorstep of consumers the brand managers have to know the major ways of promotion based on which the customers can show their interest for purchasing the products. This particular study has focused to discuss the brand management strategies and policies of LEGO with the help of which the organization has drawn the attention of customers. Before promoting the product in various countries, LEGO has made effective target market segmentation as per the geographic, psychographic and demographic market structure. Recommendation: After evaluating the entire brand management strategy, some of the necessary recommendations can be provided. The recommendations are as follows: Choosing the appropriate media vehicle: In order to reach the customers properly, the business organizations should use the popularity of media platform. The target customers of LEGO are very much restricted to 3 to 15 age group of people. Therefore, electronic media has been chosen as primary media vehicle based on which this particular group can draw customers attention. Children show their interest in watching television at their leisure. Therefore, late evening has been chosen as their prime time for promoting the brands of LEGO. In addition, new media has also been given a priority for creating effective brand awareness. By utilizing the popularity of digital media, people can easily draw the attention of people from different geographical areas. As a result, LEGO group would be able to expand their entire business process in the global market as well. Conducting the effective market survey: Before creating a brand strategy, LEGOs marketing executives should always conduct an effective market survey with the gap of few days. With the help of market survey, the sales executives are able to collect customers feedback, be it positive. Positive feedback always remains as the motivational factors for every organization (Kapferer, 2012). On the other hand, based on the negative feedback, the brand managers should re-think on the promotional strategy and policy. As per the needs and demands of the customers, the managers should amend the brand strategies. Therefore, market survey is highly important for collecting the in-general response of the target customers. Maintaining effective customer service relation: Along with maintaining product quality, the service providers should also take into consideration on how to maintain customer relation. Customer service system is one of the most effective processes based on which most of the customers tend to show their level of satisfaction or dissatisfaction (Kelley, Sheehan Jugenheimer, 2015). LEGO has created recognition as one of the best toy-manufacturing makers. Therefore, maintaining effective communication with the customers is one of the most effective tools of following customer relation. In addition, the service providers should make a balance between the supply and demand of the products. The customers should never wait for a long time in order to use the service from the organization. Rationale: Brand management is the primary concern of this particular study. The primary aim of LEGO is to develop the mental skill and ability of children. Therefore, the product designers have decided to design the toys in such a way that it can draw the attention of the children easily. Before attracting the children, an effective brand promotion is highly needed to reach the customers. Therefore, the product managers have decided to use the popularity of electronic media in order to maintain the promotional activities effectively. In addition, the study has focused to make a clear evaluation on brand exploratory process. Brand exploratory is the systematic procedure, based on which the market executives can select brand positioning, target market, brand portfolio, brand personality and so many. Before making the brand strategy, an effective SWOT analysis has been conducted in order to get an overview about the strength, weakness, opportunities and threats of LEGO. 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