Food · Gaming · Pizza · social media · Xbox

Differentiation

Pizza and video games seem to go hand and hand. Many gamer’s order pizza when they play games at home. It is an easy tasty meal many gamer’s appreciate. Interestingly Microsoft’s Xbox partnered with Pizza Hut for a perfect partnership. People can now order pizza from their Xbox in their living rooms. The gaming does not have to stop! In the first four months Pizza Hut sold over $1 million dollars of pizza using the Xbox app. Director of public relations for Pizza Hut Doug Terfehr said “when talking about a sweet spot for the pizza category it’s definitely gamers and gaming.”

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The two companies Pizza Hut and Xbox seem to be a perfect fit. When it comes to social media, the two companies rank in the top 20 for companies who lead the social network industry. Pizza Hut’s (@PizzaHut) Twitter account is on the humor side of entertainment. They post and re-tweet jokes making them feel more humanized. They use lots of pictures and videos pulling off tweets like “Dogs on dogs on dogs on dogs on dogs on dogs on dogs on pizza. ” for their new Hot Dog Pizza for National Hot Dog Day.x pizza hut hot dog

Microsoft Xbox (@XBoxSupport) uses their Twitter handle to address issues customers are having. They are one of the best, if not the best in online customer support. They have a lightning speed response rate. Digital problems arise all the time and Xbox makes sure to respond and help everyone as soon as possible. Why use a phone to call and be put on hold when you can have a quick response on Twitter. @XBoxSupport is the perfect example for customers to receive the help they need.

Xbox and Pizza Hut run the show on social media in completely different ways, entertainment and customer support. They are partnered together but use completely different strategic goals to reach their customers.

business · Coffee · Global · Marketing

The Strategy of Starbucks

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Starbucks is a company with world renown and was first established in 1971. In the last ten years Starbucks has tripled in annual revenue and earned $16.5 billion dollars in 2014 with a total of 21,366 stores. Starbucks is the second most valuable fast food brand in the world, second to McDonalds. What differentiates the company from its competitors is focus of speed and quality. Starbucks tries to get the customer their order in 3 minutes and 3-5 minutes when it’s busy. The equipment selected in each Starbucks store is at one of the highest quality pieces of equipment in the industry. Starbucks claims to have 87,000 different drink combinations and the barista can make each and every one of them. These specific steps translate to their brand and product value. Each store has high quality equipment and each store has a barista that can pour a perfect cappuccino and latte with the right amount of foam on top. The baristas are taken care of since Starbucks offers health insurance to their employees who work 20 hours a week or more costing $250 million dollars in 2009. This makes the baristas happy and enjoyable to speak to in the stores.

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The product in each global store relates to the target market because each cup of coffee ordered can be very unique to the customer. The 87,000 different drink combinations helps Starbucks fit in each market. Some stores in various countries change the look of their logo a bit to fit the culture and beliefs of the country. Most logos show wavy hair while in Saudi Arabia, the lady on the logo is covered up. Some countries (not the USA) show the full picture of the lady who is holding her legs (fins) in the air like a naked mermaid with two fins which seems to be a turn off in America. The Starbucks logo changes depending on where they are in the world. Starbucks is continually growing each year and looking to expand their global presence.

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Jacques, Francois M. (2007, May). Harvard Business Review. Volume 85, Issue 5. In Even Commodities Have Customers. Retrieved from http://web.b.ebscohost.com.ezproxy.snhu.edu/ehost/detail/detail?sid=a88cf095-0954-48bf-a909-2e0c688f6457%40sessionmgr198&vid=3&hid=110&bdata=JkF1dGhUeXBlPWNvb2tpZSxpcCx1cmwsY3BpZCZjdXN0aWQ9c2hhcGlybyZzaXRlPWVob3N0LWxpdmU%3d#db=bth&AN=24638248

Aimee Groth and Gus Lubin. (2011, July 29). Business Insider. Strategy. In 11 Things Starbucks Does Better Than Almost Any Competitor. Retrieved from http://www.businessinsider.com/starbucks-does-better-2011-7?op=1

Statista. (2015). The Statistic Portal. Prices & Access. In Statistics and facts on Starbucks. Retrieved from http://www.statista.com/topics/1246/starbucks/

Alissa Walker. (2011, January 10). A Magazine For the Global Citizen. Design. In New Starbucks Logo Too Racy for Some Countries. Retrieved from http://magazine.good.is/articles/new-starbucks-logo-too-racy-for-some-countries

Accounting · blog · business · Job Costing · Process Costing

Job Costing and Process Costing

Job costing and process costing are very similar in what they do. Both systems record the costs involved in the making of products. however a specific job like making a chair in a furniture store would compile a list of cost using job costing. All the costs involved making the chair including all screws paint and materials used to make the chair will be listed in the job costing. Process costing provides detailed information for management and helps determine if the product is financially successful or not. The process costing system is used for larger jobs and account items over the entire time it took to fulfill the job. For example, the process of making gasoline will take a longer period of time and requires materials to be used during the entire time for the large amount. Materials needed to make the gasoline will be compiled on the process costing list.

Disadvantages for job costing is that the detailed information provided for job costing records are down to the details for the specific job. This record keeping is very time consuming. Process costing is simplified and less time consuming compared to job costing. The process costing is more suited for keeping track of departments or groups rather than detailed information on single products.

Competitive pricing will always be a concern. In my view and understanding, the customer is the most important part of a business. A happy customer will return and be a repeat customer. If a product is overpriced the business may lose the customer, so pricing the product close to what the market suggest the product should be priced is imperative. Comparable prices with some sort of extra value can help the business thrive with a unique way to present the product.

Steven Bragg. (2013, March 31). Accounting Tools. In What is the difference between job costing and process costing? Retrieved from http://www.accountingtools.com/questions-and-answers/what-is-the-difference-between-job-costing-and-process-costi.html

David Ingram. (2014). Demand Media, Chron. In Advantages and Disadvantages Job Order Costing & Process Costing. Retrieved from http://smallbusiness.chron.com/advantages-disadvantages-job-order-costing-process-costing-3082.html

Laurel Delaney. (2014). About Money. In How to Price Your Product Competitively For Import and Export Markets. Retrieved from http://importexport.about.com/od/DevelopingSalesAndDistribution/a/How-To-Price-Your-Product-Competitively-In-The-Overseas-Market.htm

blog · business · Coffee · Love

Business and Coffee

Starbucks is a global coffee company; their corporation is based in Seattle Washington. The coffee Starbucks uses is definitely a variable cost along with the milk and syrup used in the cup prepared. The paper cup and heat sleeve are all variable costs for Starbucks. The prices of coffee beans vary depending on the time of year and quality of beans purchased. Milk can vary accordingly and variable costs depend on the amount milk syrups used in each cup of coffee.

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The fixed costs of Starbucks will depend on the store location and the rent provided. Rent and equipment leases are a fixed cost. The rent may be different from one store to another, but once the rent and leases are establish the amount owed each month will be the same. The fixed cost fit help management analyze the overall costs.

Starbucks has several mixed costs in the corporation. Some costs can be salaries and wages which fluxgates depending on bonuses. However the wages and salaries are typically fixed, they fall in the mixed category when there are possible changes like the bonuses. Food sold at Starbucks can fall under mixed costs as well. The costs of goods change depending on demand and time of year.

The barista making and serving the coffee at Starbucks can represent step costs. If one barista serves 40 cups of coffee in one day the costs of the employee stays the same, but if more than 40 cups of coffee are needed to be made, then Starbucks will need to pay for another barista and showing more cost for the store. On a graph the step costs will look like steps on a stair case. More costs to produce more products.

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Starbucks would be more likely to benefit from using a customer cost hierarchy for determining cost drivers. In customer hierarchy, each unit sold could be different depending on the coffee drink being made. However, for example if milk costs .0234 per ounce and a drink needs nine ounces, the cost for the milk would be $0.21. The coffee used at around $7.50 for a pound of beans worth thirty two double shots, the coffee costs for a single drink would cost $0.23. Let’s say the coffee ordered is caramel flavored and needs one and a half of syrup at $0.277 cents for the drink. The total food cost for the drink would be $0.72, but the drink must be poured into a cup with a lid and a sleeve to protect from being burnt at a cost up to an additional $0.20 cents bring the total costs of goods per cup of coffee at $0.92 cents. Each day an order level of each customer would be one coffee per day and a Starbucks store seeing 200 customers on average a day and costing the store $183.52 in goods. An average cup of coffee costs $3.50 which brings in $700 a day minus the costs of goods brings the total to $516.48. Say the barista is paid $15 an hour and serves 25 cups of coffee per hour. That would be an additional $0.60 cents per cup of coffee for a total of $1.52 per cup and $1.98 of profit.

 

Peter Mitchell. (2014). Chron. Small Business. In Examples of Mixed Costs in a Service Business. Retrieved from http://smallbusiness.chron.com/examples-mixed-costs-service-business-37030.html

Lie Dharma Putra. (2010, May 26). Accounting Financial. Cost Accounting/Management Accounting. In Cost Drivers and its Hierarchies. Retrieved from http://accounting-financial-tax.com/2010/05/cost-drivers-and-its-hierarchies/

Biotechnology · business · Investing

Investing in Biotechnology

Investing in the biotech industry will take an aggressive investor at heart with the patience that will last a long time. The biotech industry takes about 10-15 years of development and research to complete, compared to the Pharmaceutical industry which is typically half the time to the end result. An investor in the biotech industry will have a blind period of testing as the company uses research and development. There seems to be high risk involved for the investment of biotechnology. As an investor it is hard to compare profit ratios like net profit margin, return on equity, and return on assets. The main reason these ratio will not help an investor make a decision is because the biotech company will not see the profits until they are successful with the end product. If the end product is deemed successful, the company can see profits of two and three times. However, if the company’s end product is not successful, the company can lose just as much as it can gain. Typically the biotech industry will use ratio’s such as price-to-sales ratio which is the value of each dollar of a company’s sales and revenues. Ultimately I would consider investing in the biotech industry to develop a chemical-based compound to reduce the effects or onset of Alzheimer’s Disease because if successful, the investment could prove very lucrative. I will also be seen as someone looking to better the world.

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Kristina Zucchi, CFA. (2014). Investopedia. In Pharmaceutical Vs. Biotech Investing: Is It Worth The Risk? Retrieved from http://www.investopedia.com/terms/p/price-to-salesratio.asp

Timothy Noah. (2014). Slate. In The Make Believe BillionHow drug companies exaggerate research costs to justify absurd profits. Retrieved from http://www.slate.com/articles/business/the_customer/2011/03/the_makebelieve_billion.html

Peter Gwynne and Gary Heebner. (2014, February 7). Science. Drug Products. In Pharmaceutical and biopharmaceutical firms need to reduce the cost and lead time of recently developed technologies makes that goal possible. Retrieved from http://www.sciencemag.org/site/products/ddbt_0207_Final.xhtml

Reference for Business. (2014). Encyclopedia for Business. In Financial Ratios. Retrieved from http://www.referenceforbusiness.com/management/Ex-Gov/Financial-Ratios.html

Balance Sheet · blog · business · Income Statement · Income Statement VS Balance Sheet

Income Statement VS Balance Sheet

Income statements are a must for accountants and business owners. It is a major financial statement showing profit and loss on the business and/or organization as a whole. An income statement will show the profitability of an organization during the specific time allotted on the income statement. Typically the income statement will show a quarterly or monthly statement. However, the income statement can also show two weeks of time to show a net income or net loss. The income statement allows the accountant and business owner to plan for the organizations near and far future. Typically an income statement will consist of revenues and gains along with the organizations expenses and losses.

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A balance sheet is an important tool for the accountant and business owner to see a snap shot of the business on a given day. The balance sheet shows the ending balances of the organization and reveals the organizations assets, liabilities, and equity accounts during the date stated on the report. This report uses the following equation:  Total Assets = Total Liabilities + Stockholder Equity. The importance of a balance sheet reveals the liquidity of the organization which show the ability to pay debts on a timely matter.

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Marketing managers find the income statement more useful than the balance sheet because the income statement reveals the profitability of the business. Marketing managers want to present the best of an organization by using the information on the income statement. A marketing manager’s job is to lure consumers to purchase product or services. Marketing managers develop price strategies to maximize an organizations profits without upsetting the consumers. The income statement gives the marketing manager the important product pricing information to better help the consumers buying decisions for an on going process. A balance sheet does not reveal the overall product profitability since it reveals only a one day snap shot. In one day a popular product can be seen as unpopular, so the marketing manger would find the income statement more useful than the balance sheet.

Accounting Coach. (2014). Accounting Topics. In Income Statement Explaination. Retrieved from http://www.accountingcoach.com/income-statement/explanation

Accounting Tools (2014). Financial Statement Topics. In The Balance Sheet. Retrieved from http://www.accountingtools.com/balance-sheet

Kimberly Castro. (2014). US News and World Report. In Best Business Jobs: Marketing Manager. Retrieved from http://money.usnews.com/careers/best-jobs/marketing-manager

Boundless. (2014, July 3). Financial Statements Overview. In Uses of the Income Statement. Retrieved from https://www.boundless.com/accounting/textbooks/boundless-accounting-textbook/financial-statements-overview-3/the-income-statement-24/uses-of-the-income-statement-154-7372/

blog · blog with a side of klout · current · current stand on social media · education · klout · social media

Blog with a side of Klout

I took a social media course in college which help to start my blog. Before this course I had knowledge of social media, but blogs scared me. I was afraid to get involved with blogging because I didn’t understand it fully. I have grown a lot in this course and I recomend this caurse to everyone I know! I have created a blog account which I am very happy about. I will be continuing my blog and develop more of an audience. I have seen only positives about the blog activities. We were allowed to blog about our industry which makes it truly exciting. Not only is it exciting, but we are blogging about social media in our industry. There are not a lot of people blogging about social media. Because of the social media theme of the blog, I have had 4 different countries read my blog; from of course the USA, then Mexico, Russian Federation, and Saudi Arabia. It is exciting knowing people from other countries are viewing my blog. This entices me to continue blogging. I can’t wait to continue blogging. I plan creating another blog about video games. It is a hobby of mine. I have played video games for the most part of my life. I still want to continue my blogging on social media. It seems important for people involved with social media to continue engaging with other social media guru’s. I am also interested in creating my own url with wordpress. I believe it will be daniellonen.com.

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My Klout score has grown to over 56. I started at 49 and just a couple days ago I reached my 90 day high of 60. During the course of this class my Klout score has had a huge increase. I am starting to utilize my Klout scheduling; I know this will improve my Klout score too. My score increased due to the knowledge I gained in this class. I am truly happy about taking this course and will continue my education probably for the rest of my life. I will leave you with one question, what is your Klout score?

Uncategorized

Rise of Social Predictions and Mobile Use.

Recently there has been an increase of social media real-time insights. Analysis are beginning to measure emotional text or posts made on social media. This analysis compiles responses of audiences with emotional outbreaks. In many cases profanity words along with other strong emotions expressed through social media is picked up using automated consumer insight tools. In the entertainment business, performances on-screen matter. Whether it be television or films, the performances shown on the screen relates to return on investment.

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For example, Fox’s X-Factor, where contestants compete with their vocals for singing competitions on live television, has their research team use social media sentiment (emotional expressions on social media) to accurately predict which contestants would be eliminated every week. This was a huge advantage with the use of social media sentiment. The research team for Fox’s X-Factor even predicted the season’s winner.

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The use of social media sentiment allowed television programs to better present specific artist for advertising. As the audience watches the X-Factor season, each fan begins to latch on to a specific artist as they learn more about the individual. X-Factor would dive a little more each week on specific competitors, giving more air time to those who have higher predictions from social media sentiment. All of the analysis of emotional expressions online help support the television program and keep people coming back for more.

The best practices of using consumer sentiments is by comparing the data analysis from one insight measurement to another data analysis insight measurement. The reason behind needing different data analysis comparisons is because the analysis can measure percentages of unstructured conversations like the comments and tweets compared to positive and negative conversations and overlooking the quantitative metrics measured through the feedback of the available social network analytic platform.

Overall the success comes from the audiences and fans. Broadcasting has become more and more mobile as time passes. in 2013 Time Warner Cable lost 306,000 TV subscribers in only the third quarter (Q3).

CEO Tom Rutledge of Charter Communications told Wall Street analysts – “I surprised that 1.3 million of his 5.5 million customers don’t want TV – Just broadband internet. Our broadband-only growth has been greater than I thought it would be.”

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More people are watching their shows on tablets and phones than ever before. Another example, my brother opted out of television and not subscribe to any service. Instead he has saved a lot of money by subscribing to Netfilx and Hulu+ for a cheaper television avenue. The television resolution quality is just as high as the television companies use at a fraction of the price. Another benefit of watching TV through the internet is the show you typically watch are on demand, so you can hit play and watch it when you are ready. Plus, there is less commercials on movie/TV apps than on actual television.

All in all, social media has changed the way we approach our entertainment. We comment on social media and recommend television shows on social media…since you are on your phone checking social media, might as well just click a button and watch the show everyone is talking about.

Uncategorized

Hollywood’s Social Paradigm

Social Media and Hollywood films are beginning to marry. Studies have found that the more people talk about films in social media, the more likely these people will buy a movie ticket. In fact, people who share movie content are six times more likely to purchase a movie ticket than the general public. This statistic shows that sharing is a strong indicator of purchase intent. The correlation of social sharing is even higher when people share content of family/faith films. Family/Faith movie content sharers are eleven times more likely to purchase a movie ticket.

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Regular movie goers who watch movies three or more times a month are 73% more likely to share content on social media. This points out that the content sharers are the ones to target for ticket sales. Another interesting statistic is that people who buy movie tickets online are 70% more likely to share movie content on social media. This makes finding the social media “influencers” for movie goers are very lucrative for a business stand point.

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Movie goers are more likely to use Twitter, email and Reddit than the general population. This is an interesting statement since a higher percentage of influential people on social media are on Twitter. There is a large difference between content sharers on Twitter than on any other social network. The influential social posters tend to be on twitter and are very likely to share content. Out of this group you see the high percentage of movie goers.

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Facebook is still the number one social network and should be treated as it is. Number of users are slowly declining, but the numbers are so vastly large that Facebook will still hold the number one spot for a short while. I believe twitter will continue to grow, either way both networks should be used in sharing movie content. Movies have been taking a large hit in the box office lately which should be a sign to find new ways of finding the movie ticket buyers and letting them know what is out there. Steven Spielberg said “…there’s going to be an implosion-or a big meltdown. There’s going to be an implosion where three or four or maybe even a half dozen megabudget movies are going to go crashing into the ground, and that’s going to change the paradigm.” I believe the new paradigm is the social media platform. It is the way people are viewing the films and the way the filmmakers are going to making their money back form the millions put into a film. The new paradigm is still developing and will very soon find it’s grooves and glide to be the Hollywood we know it is. Hollywood has changed the way countries act and think. Hollywood is a global influencer that will take it’s grasps of social media and lead the world in a new global social entertainment paradigm.

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apps · film · filmmaking · Hollywood · movie

Hollywood’s Top App

Movie Slate logo

A filmmakers dream come true. For those working in Hollywood, everyone knows keeping track of shots can be a nightmare if not done correctly. If the shot that was taken two weeks ago was not logged correctly, then the producers will be having a fit. In Post-Production the film is edited to its completeness. Every shot will be veiwed in during production ans post-production. Years ago, these shot log data and notes were written down on paper. A shot log is information about a shot, the angle, the lighting, the scene, the time it started and the time it ended. Notes will be written down about the shot for reminders or differences between one shot and another on the same scene. The location must be written down along with audio information. There is a lot of information going into these production shot logs.

Movie Slate” is an app for your new iPhone or iPad. I’m not sure if it is available for other phones/tablets. The “Movie Slate” app gives the producer total control of each shot while it can, search, edit, duplicate the shot log data and notes. the notes for the app can show images, voice notes, and text notes.

Movie Slate

All of this is done in the app and most importantly the shot log data can easily be exported through email for various history reports. Each producer hanging around the set can receive their own shot log data through email everyday. The history and notes can be emailed in various report formats. This allows for quick imports into computer spreadsheets and databases. The app allows each shot to also be valued or rated for audio and video quality. The rating system is for the director/producer to help them figure out which shots they liked the most.

The very important reports can be done in html, xml, csv, ale, and multi-cam report. These reports are easy to read reports that can be viewed in any computer web browser. The reports can contain shot and note data for import into FinalCut 7 (sml) and FinalCut X for professional editing. It can also export into Avid (ale), both of which are known as the industry standard for editing film. If you are into film-making or are working in the industry, Movie*Slate is a wonderful app to keep everything organized in a production.

Movie-Slate. (2014). Movie-Slate. In Shot Log History done the easy way. Retrieved from http://www.movie-slate.com/history_log/

Dominic Patten. (2009, December 29). The Wrap. In 10 Hollywood Apps You Must Have. Retrieved from http://www.thewrap.com/deal-central/article/10-hollywood-apps-you-must-have-12286/

RealSEO. (2012, June 27). Youtube. In MovieSlate iPad App Overview: Digital Clapperboard for Video Production [ReelRebel #8]. Retrieved from https://www.youtube.com/watch?v=ftazZjiM108