Stock Markets Products Catalog
Stock price data were located using the Center for Research in Security Prices (CRSP) database at the University of Chicago. The CRSP database contains stock prices for the Dow Jones, AMEX, and NASDAQ stock exchanges. Observed event date stock prices were compared to the CRSP value-weighted portfolio of NYSE and AMEX stocks, then regressed on and compared to the value-weighted portfolio. Excess return is calculated as the actual return minus the market model expected return (Lane & Jacobson, 1995). A full ESM statistical review is beyond the scope of this chapter. For fuller details, see Lane and Jacobson (1995) and Brown and Warner (1980, 1985). At the time of this analysis, stock prices were available through the end of the 2000 calendar year.
Also, avoid strange spellings, unless you intend to brand your artist with that spelling (such as z instead of s ). Remember that words may be spelled differently outside the United States or in non-English-speaking countries. Some companies and artists like to use acronyms for the domain name (e.g., www.hsx.com for Hollywood Stock Exchange). The problem is that most of the short acronyms are already taken. Dennis Forbes (2006) reported that all of the three-letter acronyms are taken and nearly 80 of four-letter acronyms are already registered. Less than 5 of five-letter acronyms are taken.
Brewtopia gave all those who signed up the opportunity to drink free beer at the launch, and offered them the potential to own part of the company that made the beer. While most breweries will only let you buy their shares on the Australian Stock Exchange, Brewtopia would give theirs away.
Netscape charged commercial users for its program and sold its services for internal corporate use. The company sold public shares of stock in early 1995 and created a sensation that played a direct role in lifting the whole domestic American stock market nearly 30 in one year. Then Andreeson's company achieved another historic first by generating revenues in excess of 100 million in its first year of existence.
Although it may be difficult to measure an athlete endorser's success in terms of revenue and sales, it appears possible that other related impact measures may be affected. Agrawal and Kamakura (1995) analyzed stock price movements and found that press releases announcing celebrity endorsement contracts resulted in an increased return. A famous face in an advertisement can help build a recognizable image for a company or its products and has been known to boost viewer recall (Sasseen, 1984). Indeed, if there is a fit between the athlete and the product, a celebrity endorser's stamp of approval
When options brokerage PEAK6 decided to branch out and provide educational information about the stock market to novice investors, they created a virtual trading space that enabled visitors to practice investing with no real money at stake. Knowing that to learn about the stock market and to invest can be daunting to some (and sorry brokers boring to others), they built WeSeed.com, educational content around topics that got people excited and related those topics to the stock market We discovered some interesting data in the logs. Most visitors were searching for variations of ''virtual stock market'' and ''stock market game.'' While this is exactly what We Seed offers, that's not obvious from the pages those searchers were landing on. We also looked into creating a stock market game that parents could play with their children. Expanding into this product had several advantages. The parents would control the user accounts, so although the kids would be playing, they wouldn't need...
Oh what a difference a couple of years makes. For Nintendo, everything is now coming up Super Mario Bros. Last year, revenues and profits were up by 73 percent and 67 percent, respectively. In the last couple of years, during a time in which the Nikkei Stock Average fell nearly 25 percent, Nintendo's stock price tripled. In fact, Nintendo's stock price rose so high during 2007 that its market capitalization exceeded that of the Sony Corporation. On that measure alone, Nintendo became the second largest corporation in Japan,
Britvic faced a significant challenge when it floated on the U.K. stock market in 2005, issuing two profit warnings in its first year, largely as a result of health-conscious consumers cutting back on their purchases of fizzy drinks, such as Tango. The business immediately fought back by launching drench, Pennine Spring, and Fruit Shoot H20 to tap into the U.K.'s growing bottled water market. Even so, the company's major success story was
However, despite its long list of familiar brands, Kraft hasn't done very well in recent years. Over the past six years, its sales and profits have stagnated and its stock price has flat-lined. Investors would have made a better return on bank certificates of deposit than on their investments in Kraft stock. The problem Until just recently, Kraft has done a poor job of managing the product life cycle. Although it's had a slew of good old products, it's had far too few good new products.
Sponsorship in its various forms dominates sports marketing. This topic looms large in many conversations about sports marketing. It is with good reason, therefore, that we have more chapters in this section than in any other. Chapter 8 presents a thoughtful overview regarding mechanisms through which sponsorship can influence consumers. Chapter 9 discusses the outcomes of sponsorship on two campuses. Chapter 10 provides evidence regarding how consumers think about sponsorship, and Chapter 11 looks at what happens with stock prices when sponsorship deals are announced. Chapter 12 reviews the literature on team identification and how that relates to responses to corporate sponsors.
EasyJet began its operations in November 1995. Initially it had just two leased Boeing 737s. Founder Stelios Haji-loannou set up the company to operate just two routes, from London to Glasgow and to Edinburgh. Five years later the company was floated on the London Stock Exchange. By mid-2008 easyJet was operating 152 aircraft on 383 routes. Although the company was floated on the stock exchange, Stelios remains the largest single shareholder and is still the chairman of the board of directors. Stelios was knighted in November 2006 for services to entrepreneurship. easyJet remains a dominant force in the low-cost aviation sector in Europe and has enjoyed continual growth since it was founded.
Once broad objectives have been worked out, they should be translated into specific goals, an equally challenging task. Should goals be set so high that only an outstanding manager can achieve them, or should they be set so that they are attainable by the average manager At what level does frustration inhibit a manager's best efforts Does an attainable budget lead to complacency Presumably a company should start with three levels of goals (a) easily attainable, (b) most desirable, and (c) optimistic. Thereafter, the company may choose a position somewhere between the most desirable goals and the optimistic goals, depending on the organization's resources and the value orientation of management. In no case, however, should performance fall below easily attainable levels, even if everything goes wrong. Attempts should be made to make the goals realistic and achievable. Overly elusive goals can discourage and affect motivation. As a matter of fact, realistic goals may provide higher...
However, there is some hope improvements in technology and manufacturing techniques hold out the possibility of UK manufacturers being able to meet the demands for small-scale production runs. Retailers' increasing reluctance to hold large stocks and consumer pressure towards more diversity and exclusivity encourage the need for small runs and put a premium on a fast flexible response that will tend to help UK-based manufacturers. Just-in-time (JIT) inventory control and a reluctance to commit budgets early in the season also offer the possibility of top-up orders even if the main order is initially placed overseas.
This company exists but the name has been changed in order to preserve confidentiality. Tyrone is a small biotechnology company employing approximately 50 people and with a turnover of 18 million. It develops, manufactures and distributes its own pharmaceutical products and is known for its 'cutting edge' technology the licensing of which, in itself, contributes to its revenue stream in the form of royalties and contract research. The company is quoted on one of the major stock exchanges and proprietary, intellectual property forms a significant part of its asset base, an important factor in attracting shareholder funding. As one of the new breed of biotechnology companies it is seen by some investors as a high risk high potential investment but, unlike so many of this type, it already has a number of products competing in the market place and these, rather than any projected potential, provide a bench mark by which its performance is judged. In an area of the financial markets...
A recession is defined as a contraction in the economic cycle and is measured from the peak to the trough when it stops. The picture is made worse when you add in all the major stock market falls that don't have the decency to coincide with the start of or impact on recessions. Recessions are a lot more common than you might think. There were over 20 in the United States during the last century, as illustrated in Table 18-1. And bad debts soar when the economic climate clouds over. No firm is immune, so you must know how to plan for them.
An Internet development firm with an outstanding reputation is sold to an offshoot of a major U.S. corporation with one of Silicon Valley's real legends on the Board. The corporation gets the firm. The proprietor goes for an exceedingly valuable bundle of shares about to be floated on the U.S. Stock Exchange. The purchaser takes over the premises, staff, equipment, checkbooks, records, Intellectual Property Rights (IPR), and so on and then doesn't float.
A takeover is probably the last thing you were anticipating when you first considered writing a program. Yet any successful software house is several times more likely to receive a takeover offer out of the blue than it is to float its parent on the stock exchange. If you ever get an offer be courteous and business-like but be very, very guarded.
There are thousands of seal types and sizes. Customers expect their distributors to keep stocks available of most of them. Seal makers like Economos also expect their distributors to buy large stocks. In this business, it is also apparent that the firm's own production technologies and the injection moulding process it uses encourages it to manufacture large batches of the product. The traditional production methods, however, mitigated against fast response to customers that ordered a small quantity of an item not in stock. Economos was considering how to overcome the inflexibility which, in a way, confined the company to the use of third-party distributors that are put under pressure to keep large inventories.
Consider this Estimates indicate that over 31 billion commercial e-mails were sent in 2002. Approximately one-third of these were automated mailings, including stock price alerts, newsletters, or sales marketing messages. By the year 2006, the number of e-mails sent annually is expected to exceed 60 billion, with over 50 percent being commercial in nature. As noted by Mark Levitt, vice president of IDC Collaborative Computing Services and co-author of the estimates study, Like water flowing out of a hose, e-mail has the potential to fill our inboxes and workdays, overwhelming our abilities to navigate through the growing currents of content. A study conducted by Ferris Research estimated that SPAM cost U.S. corporations 8.9 billion in lost worker productivity in 2002. Other studies have shown that 59 percent of consumers can differentiate between legitimate e-mail and SPAM and are becoming more and more annoyed with the latter. Click-through rates on e-mails are also dropping....
The services delivered for consumers, to date, have included transactional and informational. Consumer applications to date include retail (WH Smith Online books, the Carphone Warehouse), ticketing (lastminute.com), brokering, banking (the Woolwich), gambling (Ladbrokes), bill payment and job searching. Some informational services based on personalisation such as those of Excite UK and Yahoo have also been launched. These include information such as sports news, stock prices, news, cinemas, weather, horoscopes and reminders.
In recent years, American consumers fell into a consumption frenzy, fueled by income growth, a boom in the stock market, rapid increases in housing values, and other economic good fortune. They bought and bought, seemingly without caution, amassing record levels of debt. However, the free spending and high expectations of those days were dashed by the recent economic downturn. Today's tapped-out consumers are now repaying debts acquired during earlier spending splurges, sweating out increased mortgage and household expenses, and saving ahead for children's college tuition payments and retirement. Changing economic conditions can have a big impact on even the most successful companies. For example, the recent economic downturn took a big bite out of sales and stock prices at Apple, the computer maker that's also found a large market in music-related products. Premium digital devices, such as the iPhone and iPod, account for more than 40 percent of Apple's sales. In a troubled economy,...
Although share options go in and out of favor as the stock market fluctuates, anyone who is interested in long-term employment has hitched their destiny to that of the company. Share options can be a just and fitting reward. They give loyal staff much greater faith in the company's sense of fair play beyond the actual value or equity disbursed.
The gay market, in particular, is a lucrative one. A 1997 Simmons Market Research study of readers of the National Gay Newspaper Guild's 12 publications found that, compared to the average American, respondents are 11.7 times more likely to be in professional jobs, almost twice as likely to own a vacation home, eight times more likely to own a computer notebook, and twice as likely to own individual stocks.19 Insurance companies and financial services companies are now waking up to the needs and potential of not only the gay market but also the nontraditional household market as a whole
Stock market in perpetual heavy trading) and a workstation displayed these in the standard dealer's grid colors. It was then possible to demonstrate that the PC network system was able to cope with the heaviest data load 14 times faster than the older, more arcane mini-computers.
The company's strategy is to pursue the company's objectives rather than to defend its position against competitors. For example, some ooantlines are 'below threshold size'. The objective for these is to improve the performance up to the threshold level. Rod Flint, the director of J. Walter Thompson, which is responsible for Nestle Rowritree's advertising, comments 'Their objective is not always driven by the stock market. That gives Nestle a long-term perspective. They are into world brand domination and they are highly global in their approach now, since they arc also organizing their European marketing department.'
Financial data includes profit margins, analysis of costs (which appear on the income statement), profitability, asset turnover (which measures the efficient use of resources), long-term debt ratio, and the short-term cash flow. For companies listed on the stock exchange, the price earnings ratio (PER) reflects their position on the stock market and their credit in the opinion of investors.
Note London's first dedicated stock exchange was opened in 1773. New York brokers were dealing under a sycamore tree on Wall Street in 1791 until their first proper Exchange was opened the following year. The first stock exchange, or Bourse, is believed to have started in Bruges in Flanders (now part of Belgium) and is named after the Van der Beurze family who owned the house where the activity began.
When the University of Michigan's Survey of Consumer Confidence is published, stock markets gyrate and consumer-buying behavior can change, impacting the overall economy.1 The U.S. government's survey of leading economic indicators influences decisions from the purchasing of raw materials to the hiring of workers. Politicians follow every rise and fall in the polls as they formulate campaign or policy strategies. Surveys and their influence are everywhere.
The mania reached its height in 1999 and early 2000, with more than 160 billion being pumped into more and more dot-coms of increasingly dubious bona fides. The bubble burst in April 2000 and was followed by 3 years of a declining stock market and hemorrhaging portfolios. The fallout from the crash dragged into 2002 and helped drive the Dow Jones Industrial Average below 8,000 and the NASDAQ to 1,200. When it was all over, the dot-com winners included the following
10 My first experience with time sharing was with a financial modeling package called Finar used by my father to perform simulations of intermediate stock market swings. The cost to rent usage of the package was in the thousands of dollars. Finar was later purchased by MicroPro and in 1983 became a PC-based product called PlanStar, which was available for a few hundred dollars. A better known exemplar of this type of software was introduced a few years later under the name of Javelin. These data modeling packages take a top-down approach to spreadsheet creation. Though powerful, these products have never been widely accepted by the market. Nor was that all. Several trade shows dedicated to the ASP market promptly sprung into being. A new ASP industry consortium was formed. New publications with names like ASP World were in the planning stages. ASP stock prices promptly headed into overvalued dot-com territory and thousands of paper millionaires began planning their early retirements....
Now, armed with an excellent track record, you are in a strong position to approach potential investors. Your sales achievement diminishes the early doubts, and you yourself are more assured. Doors may open at speeds you would never have believed previously, but don't fall in too quickly. There is probably no need to take out a second mortgage on your home to underpin your overdraft. Your bank manager will be more than happy to extend your credit. Additionally, you may now have the option of a stock market flotation. Your have the following main options
Maxine Clark opened the first company store in 1996. Since then, the company has opened more than 370 stores and has custom-made tens of millions of teddy bears and other stuffed animals. Annual revenues reached 474 million for 2007 and are growing at a steady and predictable 15 percent annually. After going public in November of 2004, the company's stock price soared 56 percent in just two years. Annual sales per square foot are 600, roughly double the average for U.S. mall stores. In fact, Build-A-Bear Workshops typically earns back almost all of its investment in a new store within the first year, a feat unheard of in retailing. On top of all this, the company's Internet sales are exploding.
Major technological breakthroughs often spark speculative fever. Perhaps, but the introduction of the airplane, TV, CB radios, and, most recently, the personal computer did not. And it could be argued that the Internet, although a significant advance in communications, was hardly a technology breakthrough even on the scale of refrigeration, which transformed the American South from a backwater into the country's most vibrant economic region. On the other hand, railroads, the high-tech darlings of the 19th century, triggered a speculative mania that helped contribute to a depression, as Charles Kindleberger points out in Manias, Panics, and Crashes A History of Financial Crises (the second-best book ever written about the dot-com boom). But why trains and not TVs The number of people investing in the stock market had increased tremendously over the past 30 years, making the market more volatile. This contradicts mathematics and experience. The larger markets become, the more overall...
Different competitors may have different business objectives. For example, some may be focusing on short-term profits, some on long-term market share. Business objectives affect behavior. In the early 1980s, a survey was made of managers in U.S. companies and managers in Japanese companies. The U.S. managers ranked return on investment and stock price as their most important objectives, whereas the Japanese managers ranked market share, return on investment, and new products each nearly the same as their top three objectives. Many people interpreted the findings of this survey to indicate that during that period Japanese companies had much longer-term business objectives than did U.S. companies. If true, that would explain the very aggressive pricing strategies used by many Japanese companies to gain shares in the automotive and consumer electronics industries in the United States during the 1970s and 1980s.
The Virgin Personal Equity Plan (PEP) was Richard Branson's attempt to attract new customers into a market that he felt to be overcomplicated. With its initial product, Virgin made innovative use of index tracking, a technique of investment which shadows the performance of die All Share stock market index, rather than using fund managers who pick and choose the companies in which they invest. At the time of its launch this was the lowest-priced PEP, with no entry and exit charges.3By July 1997, Virgin Direet managed
Services cannot be stored once an airplane takes off or a movie starts, any unsold seats cannot be held for future sale. Perishability is not a problem when demand for a service is steady, but fluctuating demand can cause problems. For example, public-transportation companies have to own much more equipment because of higher rush-hour demand,just as Charles Schwab must have sufficient server capacity to handle its brokerage customers' on-line trading during peak stock market periods.
ESM offers sponsoring marketers from publicly traded firms an opportunity to move beyond consumer-based, indirect intervening variables effectiveness assessment. A more immediate indicator of the perceived value of the sponsorship could be observed in the firm's stock price as traded on any number of stock exchanges. As noted by Lane and Jacobson (1995, p. 67), ESM is believed to provide an unbiased estimate of future long-term earnings. Excess stock return measures the difference between the actual return and the expected return if the event had not occurred. ESM assumes a theory of efficient capital markets based on public information exchange (Fama, Fisher, Jensen, & Roll, 1969). At any given time, a publicly traded company's stock value reflects the trading public's perception of all available information about the firm. This perceived value is made tangible in the firm's stock price. New information is quickly disseminated and acted on by current and potential investors. If...
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