Explain in 500 words or more what NIST Is and how it should be used by a dba.
Use at least three sources. Use the Research Databases available from the Danforth Library, not Google. Include at least 3 quotes from your sources enclosed in quotation marks and cited in-line by reference to your reference list. Example: “words you copied” (citation) These quotes should be one full sentence not altered or paraphrased. Cite your sources using APA format. Use the quotes in your paragaphs.
Write in essay format not in bulleted, numbered or other list format.
It is important that you use your own words, that you cite your sources, that you comply with the instructions regarding length of your post and that you reply to two classmates in a substantive way (not ‘nice post’ or the like). Do not use spinbot or other word replacement software. Proof read your work or have it edited. Find something interesting and/or relevant to your work to write about.
Your Research Project is due this week. It must consist of:
1. 5 source annotated bibliography
2. slide presentation with 12 or more slides
3. Summary or Abstract containing at least 750 words.
Note: Please find the attachment for Work #2 which prepared by you previously select that topic for this work
Complete the final case study PowerPoint Presentation on “Nike company”.
Final Case Study PowerPoint Presentation
- Must include (Company Name, New England College, Course Title and Semester, Date, and Your Name)
- Introduction on the company (overview), what does the company do, what product or service does it offer, and where is it located (headquarters)
- Who are its main competitors (list all competitors)?
- What is the market structure (e.g. pure competition, monopoly, oligopoly, etc.)?
- How is it regulated?
- What they got wrong analysis detailing a strategy mistake using the course concepts
- What they got right analysis detailing a strategy win using the course concepts
The Presentation must be organized in the following way:
- Title Slide
- Concise with sections clearly defined
- 10-12 slide minimum (title, conclusion, reference, and question/answer)
- At minimum 10 minutes in length
- All slides must have speaker notes
- No grammar, spelling, punctuation, or typing errors
- Please review the sample PowerPoint presentation that’s attached. The sample presentation is a guide and should help with understanding expectations.
Note: Please find the attachment for Work #3 which is a sample PPT.
SIEVING THE SOCIAL MEDIA INFLUENCER MARKETING
Distinguishing Between the Brand and the Hustle
Social media influencer marketing has gained popularity in recent years. The digital era has created a platform for brands to reach their target markets through social media. “Social media influencer marketing is a strategy brands use to reach out to individual consumers who may not be captivated through other forms of advertising” (Glucksman, 2017; Stubb & Colliander, 2019). These influencers are steadfastly replacing mainstream marketing and celebrity endorsements.
Despite its successes, social media influencing faces authenticity issues and a clear struggle between brand marketing, hustle, and consumer protection. Firstly, “consumers are thronged with tons of information from traditional celebrities and ‘Instagram celebrities’ without clearly authenticating the sources of the information put out to the public” (Jin et al., 2019). Consumers end up being caught up in their buying decision on whether they buy the product or the celebrity.
Authentication issues arise because of the message sent out by the social media brand influencers. While it is up to the consumer to decide whether the brand advertised suit their needs, there is really little regulation on the message that is put out to consumers through social media. Many social media brand influencers have mastered the art of staying socially relevant to their audiences and know exactly what to do or say to pull the numbers (Glucksman, 2017). Due to this reason, consumers are left to play their role of buying while their influencers bag their hustles.
Despite regulatory efforts of protecting consumers through brand-influencer partnerships, consumers really do not care about the partnership disclosures (Phan & Yedic, 2020; Lou & Yuan, 2019)). Consumers focus on the message which entirely does not have any difference with independent influencing. The truthfulness and trust of the content are not affected by the disclosed partnership messages. Still, the consumer remains at risk of being misinformed and lured to buy.
“Social media brand influencing is done for the benefit of profit-making and clout” (Matthys, 2020). This leaves the question of the authenticity of the marketing and how a consumer sieves what is real and fake in social media influencing. For these reasons, it is important that research is made in the interest of protecting the consumers from untrustworthiness, unauthentic information, and the business of quick profit-making that disregards the consumer’s interests.
The project will unveil practical cases of how consumers have fallen victims to unauthentic social media brand influencing for the reason of finding the solutions of regulating the rapidly growing type of marketing. The research will also find out the regulatory measures that different stakeholders have made to regulate this type of marketing in an effort to measure their effectiveness. By pinpointing the weak lines of social media influencer marketing and the faults in regulating this new form of marketing, the research will be able to recommend the necessary steps to be taken to protect the consumers and how social media brand influencer marketing can positively impact the growth of a company without rushed profit-making messaging tactics that are deployed. Consumers will also be able to differentiate between clout messages and authentic brand messages.
Phan, A., & Yedic, S. (2018). “This post is a paid sponsorship” Do we care?: How consumers perceive brands when social media influencers disclose paid partnerships.
Glucksman, M. (2017). The rise of social media influencer marketing on lifestyle branding: A case study of Lucie Fink. Elon Journal of Undergraduate Research in Communications, 8(2), 77-87.
Matthys, M. E. (2020). How authentic is authenticity on Instagram: a Swedish social media influencer and social media follower perspective.
Jin, S. V., Muqaddam, A., & Ryu, E. (2019). Instafamous and social media influencer marketing. Marketing Intelligence & Planning.
Stubb, C., Nyström, A. G., & Colliander, J. (2019). Influencer marketing. Journal of Communication Management.
Lou, C., & Yuan, S. (2019). Influencer marketing: how message value and credibility affect consumer trust of branded content on social media. Journal of Interactive Advertising, 19(1), 58-73.
American Airlines (AA)
New England College
Course and Semester
- American Airlines Details and Introduction
- US domestic airline market, competition and structure
- Economic Concepts
- Demand – Supply Analysis Concepts (Right/ Wrong analysis?)
- Law of diminishing marginal returns (Right/ Wrong analysis?)
- Network effect by creating hubs (Right/ Wrong analysis?)
- What should AA do to comeback strongly (Right/ Wrong analysis?)
Talk through agenda
- Founded: April 15, 1926
- Headquarters: Fort Worth, Texas
- Services offered
- Operations of a major network air carrier providing air transport to passengers
- Providing freight services
- Providing financial services to airline secondary services
- In-flight services
- Major competitors
- United Airlines
- Delta Airlines
- Southwest Airlines
- Market Structure – Oligopolistic market with strong barriers to entry
- Regulation Authority – Federal Aviation Authority (FAA)
Talk through deregulation: The airline industry in the United States of America has had a major shift after the Airline Deregulation Act of 1978, and then has been subject to the full force of the market. The airline industry dates back to 1918, when subsidies and regulation drove the Post Office to use its first airplanes to deliver mail. This changed to Post Office giving contracts to private carriers to carry mail through the Kelly act, in 1925 (Cook, 1996).
A significant acquisition in Transworld Airlines in 2001 and a merger with US Airways made American Airlines Group (AAG), one of the prominent players in the airline industry today (Duignan, 2013).
The market structure of the airline industry is oligopolistic which means that there are only a few major players that provide the service. AA’s competitors include other major airlines such as Southwest Airlines, Delta Airlines and United Airlines with market share of 20%, 16% and 11% respectively.
American Airlines: Market & Competition
American Airlines market share at 15% in an oligopolistic nature as market structure
Despite having 30% market share, American Airlines has not been the most profitable or the most cost saving airline
|American Airlines Group||All Industry Ratios|
Oligopoly: a state of limited competition, in which a market is shared by a small number of producers or sellers.
Ratio analysis: the analysis of different statistics on the balance sheet of the company
Economic Concepts – ( Analysis)
Demand – Supply
- Increased income and good economy effects
- Related goods pricing
- Number of buyers
- How customers perceive the future
- Supply – pricing, technology, operations
- Law of diminishing marginal returns
- Network effect by creating hub
- Cancellation of routes
- Conserving cash
- Cutting operational expense
- Creating more direct routes
- Improve perception
For AA, the demand curve can be determined through three different determinants – income of the people using the service, pricing of related goods, and the number of buyers.
While the production costs incurred in the airline industry are pretty commonly discussed, I would like to talk through two new concepts that I learned in chapter 8 of this course. There are two major cost concepts that perfectly relate to the airline industry in general and AA in particular. These are namely., the law of diminishing marginal returns and the network effect.
One may be able to judge from the above discussion around the pandemic, that AA will have a tough time on the demand curve for the next few years. People losing jobs in turn leading to a loss in income, the negative sentiment about travel among the people, and the volatility in fuel pricing will hurt AA’s demand. The future also looks bleak considering the fact that there is no current vaccine available to treat the disease and people will postpone travel both for business as well as leisure which happen to be the main source of income for AA.
Demand – Supply Analysis Concepts
If Peoples’ Income rises
If pricing of related goods (crude oil) rise
If number of buyers increase
If Outlook improves
If fuel and the landing slots pricing increases
If there are Improvements in technology
If the weather is good
If Outlook improves
This is the strategy that AA has gotten right over the years where they have been able to manage demand and supply
Talk through the determinants on both demand and supply side.
From the above, we can understand that the airline pricing is highly elastic. This means that an increase in pricing reduces the demand. This can lead to either usage of substitute goods such as a competitor or even a different mode of transport. Thus AA has to be very careful to ensure constant demand to maintain a good price.
Law of diminishing marginal returns
$ 675 Million
Diminishing marginal returns is an effect of increasing input in the short run after an optimal capacity has been reached. The law states that this increase in input will result in smaller increases in output.
Nash Equilibrium: a stable state of a system involving the interaction of different participants, in which no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.
AA’s options to increase revenue from this route
$ 464 Million
$ 1 Billion +
Nash equilibrium and Law of diminishing marginal returns
- Increase the number of flights on the routes
- Reduction in profitability of route by increasing flights cause customers may not increase
- Delta could retaliate by doing the same thing
- Do nothing
- limited availability of seats keeps this route very profitable
- AA does not gain a unilateral advantage by change of strategy
This is the strategy that AA has gotten right over the years where they have been able to avoid the diminishing returns
The law of diminishing returns states that after some optimal level of capacity is reached, adding an additional factor of production will actually result in smaller increases in output (Hayes, 2019). The Los Angeles – New York route (LAX – JFK) has turned out to be the most profitable route for AA making 675 Million USD. Delta Airlines made 464 Million USD. Together they control over a billion dollars of the traveler’s market in this route (Grant, 2019). AA could decide to increase the number of flights on this route considering demand, but it will have to face two major issues – it cannot guarantee the number of passengers will keep increasing, which would reduce the profitability of the route. Moreover, if AA increases the number of flights, Delta could do the same further reducing profitability. If Delta decided not to increase the flights then AA might get some more market share from Delta but, the possibility of this happening is really low. Thus, the companies have maintained a Nash equilibrium by making sure the limited availability of seats keeps this route very profitable. AA does not gain a unilateral advantage by change of strategy, if Delta’s strategies remain unchanged. In other words, the market share could increase by adding a few more flights on the route but in general, the profitability could reduce.
Network effect by creating hubs
- Network Effect: The network effect is created when increased numbers of people improve the value of the goods or service.
- Hub and spoke model of the airline industry helps reduce costs.
- Out of 7 hubs for AA, Charlotte is the most profitable costing 2.28$
- Charlotte also shares the revenue per take off with AA
- The purpose serves three things
- Increased convenience and more choice for passengers
- Cheaper costs of flying for both airline and customer
- Cost center being converted to a revenue center
This is the strategy that AA has gotten right over the years where they have been able to manage hubs
The airline industry works on the hub and spoke model. The hub and spoke models allow the airliner to focus/concentrate passenger traffic and operations at a particular airport. AA has its six biggest hubs in Charlotte, Chicago, Dallas, Miami, New York JFK, and Philadelphia. The most profitable one is that at Charlotte on a per passenger basis. It is also the hub that experiences the most connecting passenger flight traffic in the US. AA operates over 90% of the flights from the Charlotte airport. According to a 2013 study, the cost per passenger at Charlotte Airport is $2.28, while it’s $6.86 in Dallas and $19.13 in Miami (Schlappig, 2015). One can see the stark difference in being able to maintain a low cost at this hub for AA. Thus, Charlotte hub has created a network effect for AA. The value is commonly shared by both AA and its customers. AA will be able to keep saving money on passenger cost and then eventually pass it on to the consumer by providing a cheaper ticket. The customers get the added advantage of having multiple options to choose from when selecting a flight via Charlotte
Effects of Covid – 19 on airline industry
Is traveling for business overrated ?
Estimated traffic revival : Will take 5 years to revive
Estimated Average Seat Per Mile : less than 9 cents in Q3 and Q4
Zooms rise to fame on business networking
What should AA do to come back strong? (1/2)
- Cancelled 19 domestic routes
- Asking employees to take buy outs or early retirement settlements.
- Take advantage of the fall in crude oil prices by buying more upfront
- Leasing of landing slots in Charlotte
- Reduction of indirect flights to convert them to direct routes
- Stop using the hub spoke model until passengers are back
- General needs the government to provide it with interest free loans
- Emergency travel preferred airline
- wearing masks at all times on the airplane and leaving the middle seat open
This is the strategy that AA has gotten wrong, the efforts should have been more directed and faster
AA has cancelled over 19 routes, received government aid through the payroll protection program and has made changes to the operational costs by asking employees to take buy outs or early retirement settlements. I think all these actions are good to stay afloat. But to get back to be a profitable airline, I would propose that firstly, AA should work on creating more direct routes for the time being. This would mean not using the most profitable hub at Charlotte for connecting flights. There are two reasons that people will travel on an airplane – emergency or any other urgent matter that is not related to health. People will look to save time and exposure on the route, and I believe by providing a direct flight will increase demand. Secondly, the airline industry in general needs the government to provide it with interest free loans both to avoid massive job losses and keep afloat. While the pandemic will not go away unless a vaccine/remedy is created, there will be a day when man’s need to fly will
What should AA do to come back strong? (2/2)
- Stop any chance of merger or takeover
- any kind of attempt made in these regards should be thwarted by the government.
- Oligopoly should turn in to monopoly
- A worse situation for the consumer
- Other generic actions
- Utilizing passenger planes for cargo movement
- Selling/mortgaging aircrafts and engine parts
- Defer deliveries of the planes in production
- Reduce in-flight espenses
Talk through the reasons why a merger will be bad for the passengers where the buying power of the consumer reduces.
Other plans to revive the airline
- AA has not been the most profitable airliner in the last few years
- AA’s demand and supply curves depend on pricing of fuel, income levels, the number of buyers, technology outlook for cleaner fuels and cost efficiency, and peoples’ thinking of the future.
- Cost concepts can be discussed via network hubs and law of diminishing returns
- The Covid – 19 pandemic will see AA financially strained but a merger/take over should not be a solution
Conclude with details of different points in agenda and end with thanking class for their times.
- Cook, G. (1996, August 8). A Review of Hist view of History, Structure , Structure, and Competition in the U.S. Airline e, and Competition in the U.S. Airline Industry. Retrieved from https://doi.org/10.15394/jaaer.1996.1183
- Duignan, B. (2013, February 14). American Airlines. Retrieved August 01, 2020, from https://www.britannica.com/topic/American-Airlines
- American Airlines. (2017, November 09). Retrieved August 01, 2020, from https://www.cleverism.com/company/american-airlines/
- Hopfer, E. (2020, April 15). American Airlines to receive nearly B in government aid package. from https://www.bizjournals.com/charlotte/news/2020/04/15/american-airlines-to-receive-nearly-6b-in.html
- Impact of COVID-19: Data Updates. (n.d.). Retrieved August 01, 2020, from https://www.airlines.org/dataset/impact-of-covid19-data-updates/
- FAA’s major roles and responsibilities. (2019, November 06). Retrieved August 01, 2020, from https://www.faa.gov/about/safety_efficiency/
- Hayes, A. (2020, June 14). Law of Diminishing Marginal Returns. Retrieved August 01, 2020, from https://www.investopedia.com/terms/l/lawofdiminishingmarginalreturn.asp
- Grant, J. (2019, August 13). Billion Dollar Route – Jewels in The Network. Retrieved August 01, 2020, from https://www.oag.com/blog/billion-dollar-route-jewels-in-the-network
- Banton, C. (2020, January 29). Understanding the Network Effect. Retrieved August 01, 2020, from https://www.investopedia.com/terms/n/network-effect.asp
- Schlappig, B. (2015, December 30). You’ll Never Guess American’s Most Profitable Hub. Retrieved August 01, 2020, from https://onemileatatime.com/charlotte-hub-american/