The dillemma: Purpose of the Assignment: This assignment is modeled after a real
ID: 460396 • Letter: T
Question
The dillemma:
Purpose of the Assignment: This assignment is modeled after a real-world situation. Therefore, this assignment gives you the opportunity to apply your knowledge of business functions to perceive, make sense of, analyze, make decisions about and formulate strategies and responses to resolve the problem inherent in the situation.
Real World Scenario: Many people in the world are aware of international celebrity Miley Cyrus. Miley, daughter of international country singer Billy Ray Cyrus, became first famous as a child star who played Hannah Montana, the wildly hit series on the Disney Channel. Hannah Montana was highly admired little girls. Parents who saw Hannah Montana as a role model for their little girls and thereby admired her too.
However, after over 10 years playing Hannah Montana, Miley Cyrus has grown up into a young woman. Therefore, obviously, she and Disney had to retire her Hannah Montana character and related brand.
In the midst of her wild popularity, 5 years ago, you were successful in negotiating the exclusive rights to manufacture and sell a Miley Cyrus doll (and related brand). Until recent events that will be discussed in the next paragraph, your company has experienced double digit annual growth in the Miley doll, the only product your company currently sells. Like has been good for your company, your employees and you the owner.
Months ago, Miley Cyrus appeared and performed on a music awards television show. Miley’s performed in a tight, form-fitting body skin outfit and performed what many call a very sexually outrageous performance. One of the outcomes of Cyrus’s act was the popularity of a word called ‘twerking’. Anyway, Cyrus’s act was lewd, vulgar and even suggestive of satanic in her gestures. Clearly, Cyrus’s act was very controversial. For many weeks after this performance, the mass media was showered with news segments about Cyrus’s ‘twerking’ controversy.
Your task and challenge is the analyze of the Miley Cyrus impact on your Miley Cyrus Doll Company and plan a set of immediate, short-term and longer-term strategies for your company in reaction to this dilemma. You must identify the “impacts” (i.e., the effects this controversy has had on your business) and strategies (i.e. ”what you could do” to successfully respond to each “impact” you’ve identified. There are many impacts on your business and many actions you could consider, given such impacts. The more specific impacts and strategies you correctly identify in your answer, the higher your grade will be.
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Impacts on your business and Strategies you’ve recommended
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Explanation / Answer
1. Impact: Change in the perception about Miley Cyrus doll. Company have to change its promotional and advertisement strategy which leads to decrease in profit margin
Strategies: Company need to create a new advertisement with Miley Cyrus showing its innocent and beautiful side or create a content editing its previous performance where she matches the baby doll image.
2. Impact : Decrease in Existing consumer base
Strategies: Company can offer discounts on existing products and scheme to retrieve the customer.
3. Impact : Decrease in brand value
Strategies: Company can come up with innovative products in order to increase the brand value and brand perception.