The Causes and Consequences of the Financial Crisis of 2008

English Dossier Milà ©na Gandroz 2A Cycle ICM What are the causes and the consequences of the global financial crisis of 2008? SOMMAIRE INTRODUCTION 3 WHY IT HAPPENED? 4 1. Deregulation policy 4 2. Securitization of mortgages 4 HOW IT HAPPENED? 6 1. The subprime crisis 6 2. The financial crisis 6 WHAT ARE THE CONSEQUENCES? 7 1. In the financial sector 7 2. In the United States 8 3. Abroad 8 WHAT IS HAPPENING NOW? 8 1. Some things are changing 8 2. But others remain the same 8 CONCLUSION 9 INTRODUCTION This dossier is about a story, the story of how and why the financial industry collapsed in 2007/2008. It is not about bad bankers which have created a global crisis affecting†¦show more content†¦Indeed, these products were regarded as safe because they mixed different credits and the risk for all these credits to default was really low. That is why the rating agencies (Standard amp; Poor’s, Moody’s, Fitch for the most known) rated these products AAA which is the best rate possible. They were then created in huge quantities because all investment funds could buy them (including pension funds). The big investment banks issued a lot of CDOs and kept a part of them for their own account, which allowed them to borrow always more money. The CDOs are very profitable with a high interest rate because they include subprime mortgages. As the Fed funds rate was really low at this time, banks saw in the CDOs a way to make more money with a low risk and they granted more and more subprime mortgages. Moreover, there is a law from 1977 (The Community Reinvestment Act) which allows banks to securing their deposits by the government if they agree to lend money to people on a low income (subprime mortgages). All of this explains the creation of a housing bubble which has been feed by the credits bubble. The housing prices doubled between 1996 and 2006 while the subprime market increase from 30 billion a year of $ to 600 billion of $ a year. The banks became more and more profitable and benefited fully from the leverage effect, which allowed them to borrow incredibly large amounts of money assuming that the market would always continue to rise. In 2004, theShow MoreRelatedThe Financial And Political Systems Have Always Played1226 Words   |  5 PagesThe financial and political systems have always played a major role in stabilizing the society and ensuring a smooth transition between public policies and economic activities. Over the past decades, we’ve witnessed the global crisis of 2008, which costs â€Å"tens of millions of people their savings, their jobs, and their homes†. Interestingly, the root of the problem comes from the corruption of the financial industry and how the political figures respond to the crisis. This response paper correspondsRead MoreDeregulation Is The Underlying Cause Of The 2007 / 08 Financial Crisis1382 Words   |  6 Pagesderivatives. 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It did an outstanding job of giving more insight on the banking crisis in 2008 and how it created a domino effect leading to global recessionRead MoreBailouts Effect on Economy770 Words   |  3 PagesAlmost 1.2 trillion dollars were spent on bailing out the various banks in the 2008 financial crisis. First, what bailouts are is explained. Then, the history of bailouts in the US is told. Finally, the effects of the recent bailouts are analyzed. Because billions of dollars are spent on bailouts, they need to be understood by the public by knowing their history and their effects on the economy to ensure informed decisions in the future on whether or not banks should be allowed to fail. A bailout

The Impact of the 2010 Institute of Medicine Report on the...

The Impact on Nursing of the 2010 Institute of Medicine Report on the Future of Nursing Dana Allen Grand Canyon University Tricia Aud November 3, 2013 The Impact on Nursing of the 2010 Institute of Medicine Report on the Future of Nursing The Institute of Medicine (IOM) report: The Future of Nursing: Leading Change, Advancing Health; was a product of collaboration between the IOM and the Robert Wood Johnson Foundation (RWJF). They worked together to research viable solutions for the current healthcare systems problems. The IOM is an American non-profit , private organization. Providing national advice on medical and health topics, with the goal of improving the health of the nation, is the purpose of the IOM.†¦show more content†¦Insurers are less likely to reimburse APRN’s in states that mandate physician supervision. Nurses need to push for reform of the regulations governing APRN;s. The ACA includes four initiatives designed to provide increasingly patient centered care. Primary care nurses could see job locations or job descriptions changes with the implementation of these initiatives. These initiatives include Accountable Care Organizations (ACO), Medical Health Home (MHH), Community Health Centers (CHC), and Nurse Managed Health Centers (NMHC). An ACO are groups of healthcare providers who work together to provide cost efficient care for Medicare patients. Nurses will help an ACO by functioning as a care coordinator of Quality Improvement Manager. Care coordinators will have to manage care with doctor offices, hospitals, rehab centers, and home settings, Quality Improvement Managers will focus on analyzing data and promoting evidence based practices. The MHH is a team of healthcare providers who supply healthcare services. The goal is to increase access to care, improve quality of care, and decrease costs. The main components to achieve these goals are health information technology and payment revision. Nurses will need to be competent with technological venues such as electronic medical records and be advocates for reform regarding payment regulations. An example of a CHC is Community Health Center, Inc.Show MoreRelatedThe Impact of the 2010 Institute of Medicine (Iom) Report on the Future of Nursing in Education, Practice and Leadership1175 Words   |  5 PagesThe Impact of the 2010 Institute of Medicine (IOM) Report on the Future of Nursing in Education, Practice and Leadership Esther Edukuye Grand Canyon University: Professional Dynamics NRS 430v 5/6/12 Janet Arnold Abstract This paper seeks to expand upon the 2010 Institute of Medicine’s report on the future of nursing, leading change, advancing health and illustrating its impact on nursing education, practice and leadership. 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Framework Entails

Question: Say very briefly 1) what the project is about, 2) what the main content will be, 3) what the main aim or objectives were, and 4) what the main findings could be. It is nice to end with a strong sentence that highlights the significance of the work to be undertaken and any long-standing contribution to the body of knowledge. Answer: Introduction The undertaking entails constructing up a framework, which utilizes innovation that keeps manager of the awesome gadgets of the automobiles, which executes regarding the signal dispatched to the flexible. As we have the new suggestion has been idea to oversee them remotely by means of using a GSM, which empowers the consumer remotely control converting off machines. via way of definitely sending SMS to the modem at the faraway position, the gadgets also can be grew to end up ON/OFF and the reputation of the system can be sent to the enlisted portable quantity changed within the microcontroller (Arijit Pal, Akanksha Singh, and Bijay Rai, (2015)). Specifically in the subject of objects mechanized frameworks are doing higher execution. In all likelihood the most valuable factor to don't forget concerning the international framework for flexible correspondence is that it is an international standard. On the off risk that you really adventure in elements of worldwide, GSM is only form of cellular phone administration available. GSM turned into produced as a computerized framework the use of TDMA innovation. For utilization of apparatuses the modern-day concept has been concept to supervise them remotely through using GSM, which empowers the client to remotely manage replacing of neighborhood apparatuses. By way of a not unusual SMS sending to the GSM modem at a ways off situation, the items will also be have become ON/OFF what is more (Bangali, J. and Shaligram, A. (2013)), the fame of the objects will also be sent to the encouraged moveable quantity custom-made in the microcontroller. The Scope of apparatuses that can be managed by using telex-far off frameworks is limitless in numbers. Some of them are as in line with the following and this relies on the use want of the apparatuses i.e. Mechanical apparatuses, track approach or different electric/digital machines. Executive summary The venture is to assemble up a framework, which makes use of versatile innovation that keep control of the unique fashions of the cars, which executes as for the sign dispatched through flexible. at this time an afternoon's each framework is automated so you can face new challenges in the current situation. Automated framework has much less manual operation, in order that the adaptability, reliabilities are immoderate and precise. Henceforth every issue favors mechanized control frameworks. The project is to construct up a framework, which makes use of versatile innovation that keep control of the different devices of the vehicles, which executes as for the signal dispatched by means of the usage of transportable. Proper now a days every framework is computerized in order to face new problems within the current situation. Automatic framework has an awful lot much less manual operation, in order that the adaptability, reliabilities are excessive and unique. As a end result each concern inclines toward automated manage frameworks. In particular in the region of items robotized frameworks are enhancing execution (Efficient GSM based IVRS based Wireless Automation. (2016)). Probably the most valuable thing to feel with reference to the worldwide framework for transportable correspondence is that it's a international every day. at the off chance that you absolutely pass in factors of global, GSM is just variety of Smartphone administration available. As an alternative than s imple administrations. GSM used to be produced as a complicated framework the usage of TDMA innovation. For usage of apparatuses the brand new belief has been concept to oversee them remotely with the aid of the use of the usage of GSM, which empowers the purchaser to remotely manipulate changing of residential machines. via a trustworthy SMS sending to the GSM modem at some distance off position, the gadgets can also be grew to grow to be ON/OFF and the reputation of the objects can also be dispatched to the encouraged moveable number modified in the microcontroller (Hasan, R., Khan, M., Ashek, A. and Rumpa, I. (2015)). The scopes of apparatuses that can be managed via telex-a long way off frameworks are several in numbers. some of them Are as consistent with the subsequent and this relies on the use want of the apparatuses i.e. modern day machines, song procedure or specific electrical/virtual apparatuses (Jivani, M. (2014)). Literature review Protection is the not unusual sensitivity toward each man or woman. Everybody wants to stay securely in his/her habitation. all people wants themselves to preserve up covered or agreeable from certain scenes like housebreaking in their dwelling or setback's provoked while you recollect that of LPG gas spillage or disasters seeing that of the knowledge of fireplace of their residence. Right now days for essentially the most part we came to news approximately residence theft or housebreaking in a few houses, houses, cushions (F. (2015)). Those thefts or burglaries emerge when no one is in house or commonly we discover that robbery occur paying little heed to fact that people are of their homes. An in addition stunning information we listen is prepared twist of fates are made or affect occurs due to the reality that of LPG gasoline chamber spillage. In condominium we find out that LPG fuel is for in all likelihood the most section and much of the time used for cooking purpose. So in eac h kitchen we find out that LPG gas barrel is placed. However because of the reality that the manner wherein that of a few motives, LPG gasoline should spill from those chambers. Furthermore, in perspective of this LPG fuel spillage, hearth is likewise lit or it's going to probably even deliver related to the LPG fuel barrel affect. So one can hurt the dwelling association or in even maximum appreciably horrible moves, it's far going to skip on approximately presence peril to the character residing in the loft. Yet another experiment/worry is set fire in our residence. There can be exceptional intent of this fireplace being lit or flat getting burst in into flares (Aggarwal, L., Gaur, V. and Verma, P. (2014)). Cause of fire can likewise be electrical speedy out or since of someone of style things like candles or oil lights saved inside our residence or because of sparklers in get together season. Early revelation of every this style of disorders is simply major. right here and there fire lit is little but in the occasion that proper notion isn't always paid to it or if proper moves will no longer be made to manipulate this fire, then it might properly trade over into huge fiasco as this fireplace can unfurl in complete rental. In the get together that we do no longer supplant our lock and if those keys are dictated through technique for lawbreakers then it will achieve robbery. All of us in all fully hold close that replicate key will also be made inner of quick time moreover key duplication is downplayed. Those are the weights of normal locking constitution which makes use of a key and a lock. to overcome the larger part of the above communicated preventions of gift process we have functional a GSM hooked up habitation coverage structure. it'd keep away from these unwanted conditions, harming stipulations like LPG gasoline spillage, fireplace ignition and housebreaking. within the blessing system we use to don't forget the every room and every a element of the gadgets faster than going out, what's additional, frequently we use to disregard the instruments in strolling condition and depart that amid identical challenge during the wake of establishing from the spot of occupation we will be capable of see that system inside the comparable going for strolls circumstance, then we can be prepared for trade off the system to the secured mode (Arijit Pal, Akanksha Singh, and Bijay Rai, (2015)). The within the proposed shape the GSM is used to get the message and transmit the message to the microcontroller. As we now have two articles associated GSM and elite is microcontroller. The long way away purchaser sends a quick message to the excellent of fee to the recipient. GSM recipient receives message dispatched from the supporter PDA, GSM recipient deciphers the dispatched message and sends the fee to the microcontroller. Microcontroller inconveniences price to the mechanical assemblies and the framework related will trade ON/OFF. The use and control unit will set up correspondence through the utilization of GSM. The going with is the schematic rectangular layout of dwelling affiliation computerization with warranty in standpoint of GSM making use of a microcontroller (Jusoh, M., Jamali, M., Abidin, A., Sulaiman, A. and Hussin, M. (2015)). Research questions/ goals, sub-goals The main goal is to ensuring the security of the houses with the GSM and the sub-goal is to use of the microcontrollers for the purpose of the security in the GSM profile. Also the security system should be cost effective. Theoretical content Microcontroller The microcontroller AT89S52 is a low vigor, advanced CMOS eight-piece microcontroller with 8k byte of in-approach programmable glint memory. The ATMEL AT89S52 is a mighty microcontroller which offers an extraordinarily adaptable additionally, savvy reply for some mounted controller utility; it has 256 x 8-bit (Kaur, I. (2010)) inside smash and having eight intervene with sources with three sixteen- bit clock/counters. This is excellent with MCS-51 objects, 8k byte of in-framework programmable streak reminiscence. GSM Within the GSM we have now chosen a specific "SIMENS GSM MODEM" in this expects. The messages are dispatched from the portable set to that contain orders in composed structure which can be then treated in like method to play out the desired task. A microcontroller centered framework has been proposed for our venture. There are a couple of innovations that are utilized broadly all through this count on report (Li, J., Cao, S., Duan, J., Gao, P. and Hou, Y. (2015)). The essential inspiration driving this anticipate is that to get the dispatched SMS and handling it extra as required to play out a number of operations. The form of operation to be performed relies on upon the way of SMS dispatched. Interfacing Presently a day digital mission without liquid crystal display appears fragmented. Interfacing with Atmel microcontroller is incredibly challenged. You readily have to be aware of the satisfactory viable LCD programming calculation. LCD utilized right here has HD44780u speck grid liquid crystal display controller. Liquid crystal display modules have eight-bit expertise interface and manage pins. You can send expertise an eight-bit or in pair of two 4-bit snack. To exhibit any personality on liquid crystal display microcontroller desires to send its ASCII features to the know-how transport of CD (Nayak, G. and Agarwal, N. (2013)) for e.g. To exhibit ABà ¢Ã¢â€š ¬Ã… ¸ microcontroller wishes to send two hex bytes 41h and 42h separately. Liquid crystal display exhibit utilized here is having 16x2 sizes. It implies 2lines every with 16charchters. LCD initialization That is the pit succumbs to amateurs. Respectable working of liquid crystal display depend on upon the how the LCD is instated. We have got to ship few expenditures bytes to introduce the liquid crystal display. Fluid invaluable stone presentation is likewise known as LCD is priceless in giving purchaser interface and additionally for investigating purpose. Essentially the most largely recognized type of liquid crystal display (Pandey, M., Rajasekhara Babu, M., Manasa, J. and Avinash, K. (2015)) controller is HITACHI 4478 which offers a simple interface between the controllers and likewise are financially savvy. Relay introduction The primary transfer was once imagined through Joseph Henry in 1835. The title hand-off gets from the French factor transfers that reveal the stallion trade location of the postman. For the most part a switch is an electrical apparatus device having a know-how and yield door. The yield entryway incorporate in a number of electrical contacts that change when the information door is force, invalidation (Rahman, M., Zadidul Karim, A., Nyeem, S., Khan, F. and Matin, G. (2015)), and on the bottom of the prior transfers had an extensive use, for case the cell replacing or the railroad directing and crossing framework. Transfers are almost always SPDT or DPDT however they are able to have countless more preparations of switch contacts. PIR sensor An apathetic infrared sensor is a digital framework which measures infrared mild transmitting from article in its range of factor of view. Evident project is high-quality whilst an infrared supply with one temperature, for case, a human, goes in the passageway of an infrared supply with an change temperature, for instance, a divider (Reza Khan, S. and Sultana Dristy, F. (2015)). The entire articles radiate what is often called darkish body radiation. This vitality is imperceptible to the human eye nonetheless can also be amazing through digital machine deliberate, for illustration, intent. The term passiveà ¢Ã¢â€š ¬Ã… ¸ in this occurrence implies the PIR does not discharge vitality of any sort however as a substitute without problems acknowledges coming near infrared radiation (Soo Hoey, O., Nurazlinda Zakaria, Z. and Laili, M. (2015)). Experimental set-up The aim of this count on is to assemble up a tool that takes into consideration a consumer to remotely control and display screen quite a variety of residence/place of work machines making use of a cell mobile. This framework can be an strong and adaptable equipment as a way to provide this administration whenever, moreover, from anyplace with the requirements of the improvements being related. The use of our framework comes into convenient whilst members who overlook to do smooth matters, for instance, activate/OFF devices at their residence or in their place of work they will be able to now do as such without their nearness with the useful resource of the transmission of a easy instantaneous message from their cell phone (Survey on Home Automation Using Raspberry Pi through GSM. (2016)). This advancement, we take transport of, will at last spare a massive degree of time in particular while contributors dont should come once more for regular topics, for instance, to prompt/OFF switc hes at residence or at their workplace when they set out for their person paintings. How we've got played out our project and the specific variables included in it, from the above representation the to start with transportable station is attached as a transmitting part from which the supporter sends a rapid message that comprise of excellent and headings to the second bendy station which is determined by a call for quarter in which our control procedure is founded. The adaptable cell appeared in the piece define is a Siemens GSM modem set. The provided SMS message is about away throughout the SIM memory of the telephone and after that eliminated by way of the utilization of the microcontroller and handled fittingly to entire unmistakable operations (Xia, G. (2013)). The liquid crystal display is utilized to illustrate the repute of the operation accomplished through the usage of the microcontroller moreover its attention makes the general framework accessible to use. GSM recipient r eceives message sent from the customer name mobile, microcontroller issues orders to the machines and the gadgets associated will switch ON/OFF (Zhao, Y. and Ye, Z. (2008)). Result, outcome and relevance The undertaking GSM based residence computerization with safety using a microcontroller deliberates a complete faraway taking good care of. From proprietor GSM portable making an impact on the GSM modem headquartered within the house or place of business is notion to be as an expertise and the exact recreation performed with the aid of the microcontroller by means of changing ON or OFF the transfers is thought to be the yield (Xin, Z., Song, Q., Hu, L., Li, X. and Xu, S. (2013)). Conclusions This expect we've got embraced has helped us select up a superior factor of view on special perspectives identified with our course of study and down to earth expertise of digital forms of equipment and correspondence. We bought secure with programming examination, planning, execution, checking out and protection worried with our project. The extensive advantage of this framework is what makes it so exciting. From the lodgings of an easy cell phone, a consumer can control and display for all intents and functions any electrical objects. References Arijit Pal, Akanksha Singh, and Bijay Rai, (2015). GSM Based Home Automation, Safety and Security System Using Android Mobile Phone. IJERT, V4(05). Bangali, J. and Shaligram, A. (2013). Design and Implementation of Security Systems for Smart Home based on GSM technology. IJSH, 7(6), pp.201-208. Efficient GSM based IVRS based Wireless Automation. (2016). IJSR, 5(3), pp.1102-1105. Hasan, R., Khan, M., Ashek, A. and Rumpa, I. (2015). Microcontroller Based Home Security System with GSM Technology. Open Journal of Safety Science and Technology, 05(02), pp.55-62. Jivani, M. (2014). GSM Based Home Automation System Using App-Inventor for Android Mobile Phone. IJAREEIE, 03(09), pp.12121-12128. (2015). Microcontroller Based Smart Home With Security Using Gsm Technology. International Journal of Research in Engineering and Technology, 04(06), pp.20-28. Aggarwal, L., Gaur, V. and Verma, P. (2014). Design and Implementation of GSM Based Automated Home Security System. IAES International Journal of Robotics and Automation (IJRA), 3(3). Arijit Pal, Akanksha Singh, and Bijay Rai, (2015). GSM Based Home Automation, Safety and Security System Using Android Mobile Phone. IJERT, V4(05). Jusoh, M., Jamali, M., Abidin, A., Sulaiman, A. and Hussin, M. (2015). Wi-Fi and GSM Based Motion Sensor for Home Security System Apllication. IOP Conf. Ser.: Mater. Sci. Eng., 99, p.012010. Kaur, I. (2010). Microcontroller Based Home Automation System with Security. International Journal of Advanced Computer Science and Applications, 1(6). Li, J., Cao, S., Duan, J., Gao, P. and Hou, Y. (2015). A Novel Remote Monitoring and Control System Based on GSM for Home Security. International Journal of Online Engineering (iJOE), 11(4), p.34. Nayak, G. and Agarwal, N. (2013). Implementation of GSM-based home security monitoring system with LED touch screen. IJIT, 1(2), p.143. Pandey, M., Rajasekhara Babu, M., Manasa, J. and Avinash, K. (2015). Mobile Based Home Automation and Security System. Indian Journal of Science and Technology, 8(S2), p.12. Rahman, M., Zadidul Karim, A., Nyeem, S., Khan, F. and Matin, G. (2015). Microcontroller Based Home Security and Load Controlling Using Gsm Technology. International Journal of Computer Network and Information Security, 7(4), pp.29-36. Reza Khan, S. and Sultana Dristy, F. (2015). Android Based Security and Home Automation System. IJASA, 3(1), pp.15-24. Soo Hoey, O., Nurazlinda Zakaria, Z. and Laili, M. (2015). GSM Based Home Security System. AMM, 793, pp.554-558. Survey on Home Automation Using Raspberry Pi through GSM. (2016). IJSR, 5(1), pp.960-963. Xia, G. (2013). GSM Intelligent Home Security System Based on MCU. AMM, 336-338, pp.2443-2446. Xin, Z., Song, Q., Hu, L., Li, X. and Xu, S. (2013). The Intelligent Home Gated Security and Defense System Design with Intelligent Materials Based on GSM Module TC35. AMR, 644, pp.12-15. Zhao, Y. and Ye, Z. (2008). A low cost GSM/GPRS based wireless home security system. IEEE Transactions on Consumer Electronics, 54(2), pp.567-572.

Meeting Customer Needs free essay sample

The marketing department then plays an important role in taking these goods and services to market through all the channels the business sells through. Customer expectations are beliefs about service delivery that serve as standards or reference points against which performance is judged. Because customers compare their perceptions of performance with these reference points when evaluating service quality, thorough knowledge about customer expectations is critical to services marketers. Knowing what the customer expects is the first and possibly most critical step in delivering good quality service. Being wrong about what customers want can mean losing a customer’s business when another company hits the target exactly. Being wrong can also mean expending money, time and other resources on things that do not count to the customer. Being wrong can even mean not surviving in a ? ercely competitive market (Woodruff, 1987). With the popularity of sports increasing rapidly among the youth of today, the businessmen have devised several different means of boosting their business with the help of the sports. One such way is the manufacturing and sale of sports merchandise, that includes articles like shoes, socks, bags and jerseys that are worn by the popular sportsmen. The game of basketball has also not remained untouched of such aspects. After years of having to search high and low for basketball gear, or pay extortionate shipping fees to get goods sent over from the US, the NBA has announced a new online store will be launched for international customers. NBAstore-eu has been launched in September, 2012, featuring a wide range of NBA-branded goods (NBAstore-eu, 2012). The site is available in English, French, Italian and Spanish with further languages to be developed. Fans will be able to make purchases in local currency and will benefit from a centralized European distribution point saving on transit time and shipping costs. Local language customer service will further enhance the e-commerce retail experience (NBAstore-eu, 2012). This report is to find out a discrepancy is there between what the customer would like and what the NBAstore-eu is providing. This report is from operations and marketing aspects to identify and analyse the problems which might cause the discrepancy. In the end, the report is going to give some recommendations to improve the match between expectation and delivery. 2. 0 Identification and Analysis of the Problems 2. 1 The Problems of NBAstore-eu NBAstore. eu is aiming to put an end to the days that fans only can buy official jerseys or team products from NBAstore in the USA and pay a lot of delivery fees (NBAstore-eu, 2012). On the other side, the fans of NBA in Europe are the target customers of NBAstore-eu, what the expectation of customers is to get the varieties of products from NBAstore-eu and pay less delivery fees to support their favourite team. Therefore, the current market/customer expectations of the NBAstore-eu and the purpose of catering service are coincident. However, the researcher discovers that there is a mismatch between what marketing has identified and operational activity actually delivers. Some fans state that (Appendix) the products that NBAstore-eu provide are much less than NBAstore in USA and the price of products is even expensive than other NBAstore all over the world. Obviously, there is discrepancy between customers’ expectation and what NBAstore-eu has brought to them. 2. 2 Marketing Analysis There is no doubt that the National Basketball Association (NBA) is considered by many sports analysts as a top marketed professional sport (Salzberg, 1998). Nowadays, the fan base in Europe is growing rapidly because of superior performance of the European players in NBA. Such as Dirk Nowitzki, the best european player in NBA who is a German has carried his team Dallas Mavericks to win the 2011 NBA championship. Andrea Bargnani, who is Italian and plays for Toronto Raptors, was selected first overall in the 2006 NBA Draft. Luol Deng is Bristish who plays for Chicago Bulls, and selected for his NBA All-star game during the 2011-2012 season. Tony Parker is a french who plays for San Antonio Spurs, he has helped the team won three championships, selected as 2007 NBA Finals’ MVP and 4-time All-star. At last, Spain, provide a lot of greater players to NBA, and the spain national team nearly beat the USA dream team in 2008 and 2012 Olympic Games. According to Ian Whittell’s (2007) report, Today, millions of basketball fans across Europe have a wide range of ways in which they can watch their heroes and favorite teams competing live at the business end of the season even if there is always the curse of time difference to overcome. The nature of the league means overseas interest is also an ever-evolving and changing entity. Great Britain has never been considered a hoops hotbed, but generations of basketball fans who were attracted to the sport by Michael Jordan and his glory years with the Chicago Bulls have this week been able to watch two players who could star for the British team at the 2012 London Olympics Luol Deng and Ben Gordon dismantle the defending champion Miami Heat (Daisy, 2007). Fans in Europe are watching a lot more basketball now and so they are better educated, says Rich Sheubrooks (2007), who combines his duties as Nike global basketball consultant with those of global scouting director for the Memphis Grizzlies from his base in Barcelona. As there is millions of fans in Europe and the amount is growing, set up a NBAstore-eu is a wise move for NBA to expand the Europe marketing. But NBAstore-eu now haven’t reached the customers’ expectation due to the products and prices iss ues. 2. 2. 1 Products Analysis NBA jerseys were once only for people who religiously followed a particular team whereas nowadays people may just be wearing a jerseys because they like the design. Basketball jerseys have also become a fashion statement and people who don’t even watch NBA can be seen wearing them, it has have the name and reputation of nike with michael jordan backing it up as well as the classic styling that will keep in fashion for a very long time too. To the fans, wearing nba jerseys also helps fans to feel like they belong to a group. It is one of the best ways to distinguish who supports which team and helps fellow fans gather together, NBA jerseys can provide good quality as well as dealing with a reputable. As the major items for sale on NBA stores, the number of jerseys in NBAstore-eu is far less than NBAstore. For some famous team, the number of jerseys on sale in NBAstore-eu is only one-seventh as the number of NBAstore. Figure1 shows the huge mismatch of five famous teams’ jerseys on sale between NBAstore-eu and NBAstore. | |NBAstore. eu |NBAstore. om | |Teams | | | |Stores | | | |Boston Celtics |13 |108 | |Miami Heat |12 |113 | |Los Angeles Lakers |21 |101 | |New Yorks Knicks |5 |85 | |Chicago Bulls |17 |84 | |Total |68 |491 | Figure 1: Comparison the numbers of five famous NBA teams’ jerseys on sale. (Sources from www. nbastore. eu and store. nba. com) There are two main types of NBA jerseys, one is called swingman jersey, and the other is called replica jersey. Replica jersey is cheaper and the numbers and names are ironed on, the swingman jerseys are the ones that the numbers and names are stitched on and they are a little more expensive, most people prefer swingman jerseys because the look a lot better. Jerseys in NBAstore-eu are major make up by replica jerseys, on the other hand, the jerseys in NBAstore are most make up by swingman jerseys. According to a basketball fan who live in England and he said that (Appendix), â€Å"I prefer swingman jerseys, because replica jerseys are for those people who don’t care about basketball and just like to wear it when they go to sleep, and a true baller or people that care about their swagger would never even wear a replica jersey. Also, even though the swingman is a little bit expensive than replica jersey, but the quality is much more better. † The varieties style of jerseys can be seen in NBA games. Normally the players are wearing home jerseys or away jerseys. Sometimes, the away team needs to wear secondary away jerseys owing to long time journey. Moreover, some special designed jerseys for holidays are awesome and attractive. For examples, NBA has present special jerseys every year for St. Patrick’s Day and Latin Nights, and for the 2012 Chrismas Day, several new style jerseys called big color jersey have been presented. Also NBAstore provide some fashion jersey, which can’t be seen in the games, but they all have unique nice-looking appearance. Customers can purchase all kinds of jersey on NBAstore, but in NBAstore-eu, there are just a few styles of jersey on sale, even through the advertisement of the big color jerseys for the Chrismas can be seen in each commercial channel of NBA, but there is still no stock of the jerseys in NBAstore-eu. Customize jerseys are the special offer for customers in NBA official stores, customers can buy each team’s jersey or t-shirt what ever replica or swingman with their own name or number on it. It is an attractive deal for customers, but NBAstore-eu only provide customize jerseys of two teams, and no swingman option. As the target market of NBAstore-eu is the European market, the jerseys of European players must be an important part. Research has found that there is no Jersey of Luol Deng in NBAstore-eu (Appendix), Deng is the best British player in NBA and definitely became an all-star player last season. It is not prudent for NBAstore-eu to miss his jersey on sale. Compare the products on sale in the outlet of NBAstore-eu and NBAstore, the number of products on sale is 503 to 448. NBAstore-eu have more products in the outlet, it seems like NBAstore-eu have beaten the flagship store at this point, but the numbers occasionally can not state the truth. The products in the outlet of NBAstore-eu are most make up by headwears and souvenirs, there are 371 products in these two parts, these products are hard to stimulate the customers’ desire to buy, and there are only 19 jerseys on sale. On the other hand, the products in the outlet of NBAstore are most make up by jerseys, t-shirts and shorts, there are 140 jerseys on sale, so that the quality of the outlet is easy to identify. 2. 2. Price Promotion Analysis There is also a discrepancy between customers’ expectation and the price of products in NBAstore-eu. As the NBA is a league in USA, so the price in NBAstore can be the standard price. In NBAstore, the price of standard replica jerse y is $59. 99, the price of standard swingman jersey is $89. 99, and the price of customize replica jersey is $54. 99. In NBAstore-eu, the price of standard replica jersey is ? 45. 00, the price of standard swingman jersey is ? 65. 00, and the price of customize replica jersey is ? 55. 00. Research has found that the price of NBA official store in China is also a valuable data to analysis. In China, the price of replica and swingman jersey is ? 390 and ? 580 respectively. Figure2 shows the price comparison of three NBA official stores. |Type of Jersey |NBAstore. com |NBAstore. eu |NBAstore. cn | |Stores | | | | |Replica Jersey |$59. 99 37. 3 |? 45 |? 390 39 | |Swingman Jersey |$89. 99 56 |? 65 |? 580 8 | |Customize Jersey |$54. 99 34. 2 |? 55 |- | Figure 2: Price comparison of three NBA main official stores. (Sources from www. nbastore. eu, store. nba. com and www. nbastore. cn) As the figure2 shows that NBAstore-eu is the most expensive store, the price of jersey in NBAstore-eu in far more expensive than the other two. Considering the tax fee for overseas products, but NBAstore-eu is still expensive than NBAstore-cn. One of the core ideas to launch NBAstore-eu is aiming to put an end to the days of giving money to friends who are visiting USA to bring back a ton of stuff. Nevertheless, the fact is that with NBAstore-eu has set up for more than three months, ask friends who are going to USA to bring some NBA stuffs back may still save money. Moreover, research has found that sometimes purchase a swingman jersey from NBAstore even cheaper than NBAstore-eu for people living in England. Normally, if customers are living in the UK, to buy a swingman jersey from NBAstore-eu cost ? 65 and ? 4. 95 for shipping fee, total ? 69. 95. Buy a swingman jersey from NBAstore cost total $134. 33 (including international shipping fee and tax), the price is approaching to ? 82. 6, so normally purchase from NBAstore-eu when customers are in Europe is cheaper. Nevertheless, sometimes, like for some holidays, sellers always make discount for promotion. Just like the Black Friday in 2012, NBAstore-eu provided 15% discount of every single product, so the charge of a swingman jersey is simply total ? 60. 2. Meanwhile, NBAstore presented 20% discount promotion code, and the big difference is that the discount is for entire order, so that means the charge of a swingman jersey is barely ? 66 for orders in the UK. Although purchase a swingman jersey from NBAstore is still more expensive, but the variety of products there is much more than NBAstore-eu. Six pounds differential but considerably more options, and chances to get products that NBAstore-eu do not have. Obviously many customers will prefer to NBAstore, the promotion make NBAstore-eu in an embarrassing positon. [pic] Figure 3: Comparison of the intensity of promotion. Source from www. nbastore. eu and store. nba. com) 2. 3 SWOT Analysis NBAstore-eu have some strengths that the shipping time is shorter than buy goods from other official stores, and the products have guaranteed qual ity. Additionally, there is more accessories products than retailers. The weaknesses of NBAstore-eu as mentioned before are the products, prices and promotion. NBAstore-eu also have great opportunities to gain more profits because europe is a huge market, and it is merely explored a small part. Moreover, the fan base is growing rapidly. The retailers or similar online stores in Europe are few, so that there are little competitors. The main threats of NBAstore-eu are the sellers on ebay. co. uk. Because some similar products on ebay are cheaper than the official website. Moreover, basketball is not the most famous sports in most European countries, so other sports will lead to customer segmentation, then the amount of customer will decrease. |Strengths |Weaknesses | |? Faster delivery for European fans |? Far more less products than flagship store | |? Guaranteed product quality |? Higher price than other official stores | |? More accessories than retailers |? Intensity of promotion is low | |Opportunities |Threats | |? Huge explorable market |? Sellers on ebay. co. uk | |? Few of competitors |? Better products from other official stores | |? Fan base growing rapidly |? Other sports led to customer segmentation | Figure 4: SWOT analysis for NBAstore-eu 3. 0 Conclusion The report has analysis the current problems for NBAstore-eu. The principal problems are products, prices and promotion. The intent and purpose of set up a NBAstore for European are great, but those problems make NBAstore-eu have a colossal mismatch to the expectation of customers. The types of products there are much fewer than expectation, many customers can’t get what they want from the NBAstore-eu. The prices there are not fair to the customers in Europe. The prices there are more expensive than other NBA stores. That means if the customers are going to buy something in NBAstore-eu, they need to pay more money and get fewer options. Moreover, the promotion intensity of NBAstore-eu is not as good as others. In general, these three big problems led a huge discrepancy to the expectation of customers. If those problems can’t be solved, there will be a giant mess for NBAstore-eu. The report has also used SWOT analysis, the results show that the NBAstore-eu not only have some drawbacks, but also have some strengths, opportunities and threats. The shorter shipping time is the core strengths for NBAstore-eu for sure, and the products have guaranteed quality. As the Europe is a huge explorable market with an increasing number of fans, it is a big opportunity for NBAstore-eu to occupy the market. Besides, NBAstore-eu have some threats from the retails in europe, such as sellers on ebay, and other sports will segment the market, that’s also a threat. 4. 0 Recommendations As the intent and purpose of set up NBAstore-eu is providing excellent services and products for customers in Europe. In order to give European customers chance to buy products with minor time and the shipping fee. The expectation of customers is the same as the aiming of NBAstore-eu. As a matter of fact, the NBAstore-eu provide few products and more expensive prices than purpose. In order to solve the problem of products, NBAstore-eu need to import more products. As jerseys are the major commodities for NBA stores, first of all, NBAstore-eu should import more jerseys, specially the jerseys for European players, such as the missing one of Loul Deng. NBAstore-eu as a branch of NBAstore, the amount of products there are no need as much as the flagship, but the jerseys of famous players is still needed, just don’t miss the products for those all-star players though, that can reach the expectation of customers. Second, NBAstore-eu need to import products which are selling well in the NBAstore. Such as new style jerseys, and those hot swingman jerseys. The styles of jerseys in NBAstore-eu are fewer, so NBAstore-eu need some more styles of jerseys in order to create additional profit. NBAstore-eu need to import more swingman jerseys than replica jerseys, because swingman jerseys are more admired than replica jerseys. Third, NBAstore-eu need to offer more options for customers to customize their jerseys or t-shirts. For personal, some customers may want their own name and number on their favourite jerseys, customize products also can be a wise choice as a special gift. Meanwhile, some sport teams may need the fashion jersey of NBA teams as their team jersey, so customize jersey may become their choice. Furthermore, some fans may like to have a NBA team t-shirt with their own name on it, that’s also opportunities for NBAstore-eu to gain more profits. The price issue is also a barrier for NBAstore-eu to reach the expectation of customers. As Figure2 shows, the prices in NBAstore-eu are extremely expensive than NBAstore. There is approximately ? 8 differential for a replica jersey, ? 9 differential for a swingman jersey and ? 21 differential for a customize replica jersey. Considering the international tax fee, for customers in the UK to buy one swingman jersey from NBAstore, the international handling fee is about $20 (See figure5), it is about 22% as the price of the products for retail. Despite the fact that the international handling fee is existing, but the price there is just 122% or more as the price of products in NBAstore. It’s no doubt the international shipping fee is expensive, but one of the aiming of NBAstore-eu is to provide short shipping time and products with cheaper shipping fee. For customers in the UK to purchase some something from NBAstore-eu, they still need to pay ? 4. 95 for standard delivery or ? 6. 95 for express delivery. The conclusion is the price in NBAstore-eu is higher than customers’ expectation, the NBAstore-eu need to reduce the price. The international tax and shipping fee are two factors that can’t be ignored, but in China, the prices in NBAstore-cn are still cheaper than NBAstore-eu. The price in NBAstore-cn can be a worthwhile indicative price for NBAstore-eu to reach the expectation of customers. [pic] Figure 5: Price details for purchasing a swingman jersey from NBAstore for customers in UK. (Sources from: store. nba. com) NBAstore-eu has just set up for more than three months, it’s a quite new branch in Europe. Promotion is an essential element in the marketing mix. Its a tool used by businesses, both large and small, to inform, persuade and remind customers about the products and services they have to offer. Without business promotion, companies would be stagnant and lack substantial growth because their brands would have low visibility in the market (Miranda, 2012). Promotion can help an organization: ? Increases Awareness ? Increases Product Knowledge and Preference Increases Retailers ? Increases Sales As a new branch, NBAstore-eu need those benefits. Basing on the current situation, the promotion intensity of NBAstore-eu is low, so NBAstore-eu need make reinforce the intensity of promotion. For example, NBAstore-eu can deliver more advertisements through more media in order to increase awareness. Then, NBAstore-eu can provide discounts on festival days to attract more customers, make sure the intensity of discount is not lower than NBAstore. Good promotion also can help NBAstore-eu to get the opportunities, mentioned on SWOT analysis, occupy the European market. Reference List: Daisy Caton-Jones. (2007). NBA fans in a London sports bar watch the Bulls beat the Heat on Sunday. [Online]http://sports. espn. go. com/nba/playoffs2007/news/story? id=2854150 [Accessed 3rd Jan, 2013] Gartner, Inc. (2010). Gartner Research. [Online]http://www. gartner. com/technology/research. jsp [Accessed 5th Dec, 2010]. Ian Whittell. (2007). Fans in Europe tune in for NBA action [Online]http://sports. espn. go. com/nba/playoffs2007/news/story? id=2854150 [Accessed 3rd Jan, 2013] Miranda Brookins. (2012). Why Is Promotion Important for a Business? [online]http://www. ehow. com/about_7221403_promotion-important-business_. html [Accessed 3rd Jan, 2013] Peters, T. (1987). Thriving on Chaos: Handbook for a Management Revolution. London: Pan, p. 43. R. B. Woodruff, E. R. Cadotte and R. L. Jenkins. (1987). ‘Expectations and norms in models of consumer satisfaction’, Journal of Marketing Research 24, pp. 305–14. Salzberg, Charles. (1998). From Set Shot to Slam Dunk. New York: McGraw-Hill. p. 203. ISBN 978-0-8032-9250-5. Appendix: (Interview of a basketball fan who always wearing NBA jerseys and plays basketball in Gloucester) Researcher: Do you know there is a new NBA store launched for European customers recently? Fan: Yes, but I haven’t bought anything from there yet. All the jerseys I got are brought from ebay or NBAstore. Researcher: Why don’t you try NBAstore-eu? That store are aiming to provide products for European customers. Fan: I have viewed the website several times, but I didn’t find something I’d like to buy. I’d like to buy a Luol Deng jersey recently, but I can’t find it on NBAstore-eu. I think the products there are scarce, and the styles of products there are out of fashion. There are not many options, maybe that store didn’t import new products very often. Researcher: If you buy jerseys from NBAstore, that will charge you a lot of shipping fee and tax fee, right? Fan: Yes, absolutely. Regardless of the fact that, I prefer to pay a little more to get what I really want. Researcher: Do you ever think about to buy something from NBAstore-eu? You can pay a little delivery fee and get the products in shorter time. Fan: No, the prices there are expensive. I don’t know why, much expensive than the standard price in US. I rather to buy something from ebay, that also will charge me a little delivery fee and shorter time. Researcher: But the products from sellers on ebay are having no assured quality, how about if you buy something that is fake? Fan: I don’t worry about that, the major items I’d like to buy are jerseys, and I have the experience, I know how to identify whether the jersey is authentic or not. Researcher: What kind of jersey do you prefer? Swingman or replica? Fan: I prefer swingman jerseys, because replica jerseys are for those people who don’t care about basketball and just like to wear it when they go to sleep, and a true baller or people that care about their swagger would never even wear a replica jersey. Also, even though the swingman is a little bit expensive than replica jersey, but the quality is much more better. Researcher: How do you think the promotion of NBAstore-eu? Fan: I don’t know. Probably it is a poor effort, I haven’t seen much advertisement of it. The way why I know NBAstore-eu is because I’m a member of NBAstore, and I received a e-mail from NBAstore to notice me that. Researcher: If NBAstore-eu can provide more refined products with smart