01 Globalization and International BusinessBrent Weeks
To define globalization and international business and show how they affect each other
To understand why companies engage in international business and why international business growth has accelerated
To discuss globalization’s future and the major criticisms of globalization
To become familiar with different ways in which a company can accomplish its global objectives
To apply social science disciplines to understanding the differences between international and domestic business
International Marketing Management - IntroductionSOMASUNDARAM T
Definition; scope and challenges; difference between international marketing and domestic marketing; the dynamic environment of international trade; transition from domestic to international markets orientation of management and companies; international marketing environment.
Department of Management- Market Positioning
Why Positioning?
What is Image
Current Image
Mirror Image
Errors in Positioning
Doubtful Positioning
Positioning Strategies
Competitor Positioning
Attribute Positioning
Global advertising, advertising all over the world, sales promotion in international market, international advertising, constraints to advertising campaigns
01 Globalization and International BusinessBrent Weeks
To define globalization and international business and show how they affect each other
To understand why companies engage in international business and why international business growth has accelerated
To discuss globalization’s future and the major criticisms of globalization
To become familiar with different ways in which a company can accomplish its global objectives
To apply social science disciplines to understanding the differences between international and domestic business
International Marketing Management - IntroductionSOMASUNDARAM T
Definition; scope and challenges; difference between international marketing and domestic marketing; the dynamic environment of international trade; transition from domestic to international markets orientation of management and companies; international marketing environment.
Department of Management- Market Positioning
Why Positioning?
What is Image
Current Image
Mirror Image
Errors in Positioning
Doubtful Positioning
Positioning Strategies
Competitor Positioning
Attribute Positioning
Global advertising, advertising all over the world, sales promotion in international market, international advertising, constraints to advertising campaigns
Method of exporting affects international channel. Exporting can be done in two ways namely direct exporting and indirect exporting. Important foreign intermediaries in the export business include importers, retailers, distributors, wholesalers, government departments, joint ventures and licenses.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
> To define globalization and international business and show how they affect each other
> To understand why companies engage in international business and why international business growth has accelerated
> To discuss globalization’s future and the major criticisms of globalization
> To become familiar with different ways in which a company can accomplish its global objectives
> To apply social science disciplines to understanding the differences between international and domestic business
> To define globalization and international business and show how they affect each other
The core marketing philosophies are summarized here.
Though, the new millennium's philosophies miss out on this presentation...
Do further research to understand the philosophies better.
Especially, if you're really interested in becoming a top marketing guru locally, regionally, and or globally.
Difference between rural and urban consumer behaviorPriyanka Awasthi
Gives various difference between rural consumer and urban. Also you will find the factors affecting their buying behavior. We get to know the involvement when they purchase the product.
Method of exporting affects international channel. Exporting can be done in two ways namely direct exporting and indirect exporting. Important foreign intermediaries in the export business include importers, retailers, distributors, wholesalers, government departments, joint ventures and licenses.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
> To define globalization and international business and show how they affect each other
> To understand why companies engage in international business and why international business growth has accelerated
> To discuss globalization’s future and the major criticisms of globalization
> To become familiar with different ways in which a company can accomplish its global objectives
> To apply social science disciplines to understanding the differences between international and domestic business
> To define globalization and international business and show how they affect each other
The core marketing philosophies are summarized here.
Though, the new millennium's philosophies miss out on this presentation...
Do further research to understand the philosophies better.
Especially, if you're really interested in becoming a top marketing guru locally, regionally, and or globally.
Difference between rural and urban consumer behaviorPriyanka Awasthi
Gives various difference between rural consumer and urban. Also you will find the factors affecting their buying behavior. We get to know the involvement when they purchase the product.
Asian Paints - Strategies, Entry Mode, StructureTony Sebastian
This PDF file include the Strategies followed by Asian Paints world wide. It also includes the structure of their organisation and how they enter into other countries in a global perspective
Principles of Marketing, Introduction to Marketing Strategy, Marketing Management, BUS 2230, Marketing Orientation. This is part of Introduction to marketing course. Different organizations take a different approach to marketing.
In this presentation, we will discuss International Marketing while focusing on motives and problems of international marketing along with International market trend, world export, production sharing towards internationalization and various stages. Various types of decision making in the international marketing, scopes of Indian productions in abroad, driving and restraining forces to establish a market internationally, will also be discussed.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Various marketing charts (such as marketing triangles, the marketing face according to Kühn, simple marketing models, situation analyses) and other illustrations, charts and diagrams on the areas of marketing strategies, marketing concepts, competition analyses and market field strategies.
The features of the global marketing of luxury products (on the example of lo...diana_vardanyan
Aim - determine the characteristics of global production marketing and develop practical recommendations for the implementation of marketing strategies companies in the global market.
1 part
was studied the international marketing strategies
were identified the features of of the global marketing of luxury products
2 part
was examined the activity of a conglomerate LVMH
was analyzed the market for luxury goods and the competitive environment
3 part
were developed recommendations for the company Louis Vuitton in global marketing
were developed practical recommendations in the global marketing field for companies operating in the sphere of luxury goods
Integrated Marketing Communications and International Advertising (1).pdfKarlVincentSalinas
Integrated marketing communications (IMC) are composed of advertising, sales
promotions, trade shows, personal selling, direct selling, and public relations.
This is a presentation I gave at the IAB Luxury Forum. It puts forward the case that luxury brands cannot ignore social media and provides key strategic considerations to maximise campaign effectiveness. Includes 2 social media case studies from Infiniti Europe.
It is a descriptive presentation of Sony's marketing strategies. All you need to know about the strategies of Sony corporation is here in this small presentation.
Before an advance formal Discovery Session for which planners will gather relevant business, market, and product insights, the FIRST ACTIONABLE strategic step in the strategic planning process is to develop an initial Go-To-Market framework.
Classical trade policies demonstrate that free trade will benefit us, but infant industry theory and strategy trade policy theory tell us we must have some protection of our market and industries on the other side. In your opinion, do you agree with or against free trade? Why?
Please draw the three curves together that is total cost curve, management cost curve and shortage cost curve in one graph.
Suppose that total cost is equal to management cost + shortage cost.
Explain the general trend of each curve.
Economic Study of Television Advertising Market in BangladeshTawhid Rahman
Television has many different affects on the economy in both positive and negative ways. One of the biggest effects television has on the economy is advertisement. More and more people turn to television for advertisement. Advertisement has a huge impact and effect on viewers. After watching an advertisement on television people are heading to the store, looking on the internet, or trying to purchase the product. It only takes a few seconds to convince someone that the product, good or service they are advertising is worth buying and bam people purchase it. Television is unique because it allows people to see the product that is being advertised. Television advertisement affects everyone including children, teens, and adults because they spark the interest of a person instead of pointing out the products features.
A presentation on Creating Brand Image for Art & Artist. In this presentation yo can learn why brand knowledge is important for art, design and crafts professional, how an artist can create his/her personal brand image as well as his/her artworks etc. Basically this presentation was prepared for an interactive lecture, so that in few slides there is no description with image. But I think anyone can understand my idea about Brand. this presentation is very useful for young art students and professionals.
Presentation on Foreign Direct Investment (FDI) in BangladeshTawhid Rahman
Foreign Direct Investment (FDI) plays an important role in the economy of Bangladesh to accelerate GDP, export and domestic investment followed by overall economic growth. Despite global declining trend, in 2016 FDI inflows has increased in Bangladesh, particularly in energy, stockmarket and telecommunication sector.
FDI is a vital issue for Bangladesh to carry out effective measures in protecting the prospective foreign investors so that they can get a congenial atmosphere to invest their capital. Investor should feel that their role in the business arena of Bangladesh is respectfully valued. In this connection, friendly regulations, simplifying regulatory practices, investment incentives and removal of inefficient bureaucratic procedures should be ensured.
In this presentation you can get an overview of Bangladesh market scenario, political, legal, social, cultural, business etiquette, Sino-Bangla relationship, risk and remedy, and few other important authority links.
我有这个演示文稿的中文版本,如果你需要的话,请发邮件到tawhid1983@gmail.com
LIFE is good in CHINA- A Memory book of JUFE IMIB & MIB 2015Tawhid Rahman
This is a special book for Jiangxi University of Finance and Economics (JUFE) International Masters in International Business (IMIB) and Masters in International Business (MIB) students 2 years memory in China. It consists many photos and comments.
A Study on Brand Communication in Bangladesh Social Media.Tawhid Rahman
In today’s competitive business world, no business can survive without proper branding. Branding is therefore important to every business regardless of the size, because it helps distinguish a business from its competitors. As a key component of branding, brand communication determines whether a brand is successfully established and eventually turns a profit. Since brand communication is not free of cost, it is really hard for enterprises, especially Small and Medium Enterprises (SMEs) of Bangladesh to carry out a successful brand communication program through traditional marketing activities, which include television advertising, radio, bill-boards, newspaper etc. However, social media has evolved over the last few years to become the most affordable springboard for brand communication through engaging customers in innovative ways and making them true stakeholders in the value-creation process. Attracted by its potential to drive sales opportunities and to enhance customer engagement, companies of Bangladesh are also coming forward to embrace the full prospects of social media. This paper attempted to explore the present status, problems and prospects of brand communication through social media in the context of Bangladesh market.
This study is exploratory in nature. Duel analysis methods have been used in this research. The first one is qualitative analysis; secondary data are used from different sources to explore an overview of social media usage in Bangladesh. Furthermore, two different survey were conducted among consumers and marketers, with the aim of investigating customers’ motivation and marketers approach for using social media as a channel brand communication in Bangladesh. Finally, descriptive analysis has been done to interpret the data in order to answer all the research questions.
There is no universal communication strategy suitable for all companies, but the appropriate one may be build according to the company goals and means. Process of creating the communication strategy should focus on several targets which companies may identify by themselves or with the help of guides. One of those targets is identifying appropriate ways of engaging with the customers with the combination of Brand Awareness, Brand Engagement and Word-of-Mouth. Nowadays social media especially facebook is becoming a great tool for B2C brand communication. Recent booming of internet uses in Bangladesh enhancing this opportunity for all size of companies. They can enjoy the benefit of social media brand communication with a cost-effective way if they overcome the current challenges.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
As the call for for skilled experts continues to develop, investing in quality education and education from a reputable https://www.safalta.com/online-digital-marketing/best-digital-marketing-institute-in-noida Digital advertising institute in Noida can lead to a a success career on this eve
Influencer marketing isn't just for big brands or consumer products anymore. In 2024, marketers face hurdles like escalating paid channel costs, diminishing organic reach, and building trust in their ideal customer accounts. This session offers practical ways to bring influencer marketing into your organization, to provide cost-effective access to niche audiences, countering budget constraints and rising CPMs. We'll discuss the impact of social algorithms on reach, the trust deficit in traditional advertising and how influencer partnerships offer genuine connections with audiences. Attendees will gain actionable insights to integrate influencer marketing into their strategies, leveraging influencers for impactful campaigns in both B2B and B2C environments. Join us to unlock the potential of influencers in navigating the evolving marketing landscape of 2024 and driving meaningful business growth.
Key Takeaways:
- Educate on the various types of influence we can use as marketers
- Establish the problems that make influencers a priority
- Walk through some practical tactics on HOW to run a program leveraging several of these influence channels
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge
Global Marketing Orientation or Multi-domestic Marketing Orientation
1. 22 October, 2015 Global Marketing 1
International Masters in International Business (IMIB)
School of International Trade & Economics (SITE)
Jiangxi, PR China
2. 22 October, 2015 Global Marketing 2
Dr. Chen Qi
Ph.D. in Economics
Presented To
Presented by: Group # 1
3. 22 October, 2015 Global Marketing 3
Give an example of a company with
Global Marketing Orientation or Multi-domestic Marketing Orientation.
Explain its marketing orientation.
-Presentation on-
4. 22 October, 2015 Global Marketing 4
Marketing Orientation
Global Marketing
A business approach or philosophy that focuses on identifying and meeting
the stated or hidden needs or wants of customers. Market orientation can
be thought of as a coordinated marketing campaign between a company
and its customers.
Global marketing refers to marketing activities coordinated and integrated
across multiple country markets. The integration can involve standardize
products, uniform packaging, identical brand names, synchronized product
introductions, similar advertising or coordinated sales campaign in several
countries. This strategy assumes all consumers in all countries or
geographic regions are the same. Despite the term “Global”, it is not
necessary that all or most of the countries be included. The principles are
roughly similar whether one talks about 10 or more countries.
5. 22 October, 2015 Global Marketing 5
Example: Overview of SONY Corporation
• Company name : SONY Corporation
• Founded : May 7, 1946
• Head quarter : Tokyo, Japan
• Area Served : Worldwide
• Employees :131,700 (March’15)
• Market dominance in Television
industry in 1968s
• Major Products :
Camera, Television, Mobile phone,
Play station, Movie, Music,
Information and Communication,
Laptop, Components, Network &
Financial services.
Sony is the pioneer in
the entertainment and
electronics industry for
decades. With presence
over more than 150
countries.
6. 22 October, 2015 Global Marketing 6
SONY: Products & Brands
WALKMAN
HOME VIDEO AUDIO & HOME THEATER
TELEVISION & PROJECTOR
Example: Sony Bravia
Triniton
7. 22 October, 2015 Global Marketing 7
GAMES
Example: Playstation
Cyber-shot Still Camera Video Camera/ Handycam
CAMERAS
SONY: Products & Brands
8. 22 October, 2015 Global Marketing 8
SONY: Products & Brands
OTHER PRODUCTS
Mobile Phone : 42+ Models
(Ex.- Xperia, Sony Ericsson)
Portable Device : 45+
In Entertainment : 41+
Storage Device : 14+
Music Playing Robot : ROLLY
Dog Shaped Robot : AIBO
Humanoid Robot : QRIO
ROBOTS
IT & COMPUTING
Example : VAIO
9. 22 October, 2015 Global Marketing 9
SONY: Global Marketing Strategy
Decision making is centralized which means Sony headquarter makes all
decisions relating to products, marketing and operations. Sony India, China
and US directly reports to the headquarter in Tokyo.
All products are standardized regardless of the market in which they are to
be sold and are mass produced thereby taking advantage of economies of
scale and reducing cost.
All products are packaged similarly and the instructions relating to the
products are general with no adjustments made to suit any specific market.
The packaging of Sony’s products in India is the same in China, US, Tokyo
and Europe.
Advertisements are created to appeal to a single global market, often times
using global platforms such as Youtube and Facebook. These
advertisements are geared towards reaching persons internationally without
being custom-made for a particular region.
10. 22 October, 2015 Global Marketing 10
In launching the playstation 4, Sony used a
campaign slogan “Greatness Awaits”.
The campaign aimed to appeal to persons of all
nation and age by playing on their emotions. To
Sony the tag line beautifully articulates what awaits
you if you choose the PlayStation platform. “You
can achieve your greatness, you can be an NBA
star, you can be a football star, you can kill
dragons, you can go on adventures, and you can
be a hero. You can live your dreams when you’re
playing games.”
When the satisfaction of listening to music was
limited to stationary places, Sony invented the
Walkman. This discovery of Sony justifies the
firm’s ability to anticipate hidden needs of
consumers.
SONY: Global Marketing Strategy
11. 22 October, 2015 Global Marketing 11
SONY : India
India is becoming one of the most successful and important markets for SONY.
The core strategic advantages of SONY are-
> innovation, > pricing strategy,
> service & supply chain activities and > product quality.
Their strong brand image and worldwide reputation are what Sony uses to
market globally as persons internationally are often times confident of getting
quality products for their money when they buy Sony products.
India contributes 5% of Sony’s global revenues and is among the top ten
markets for the company. In India Sony maintains market leadership in product
segments such as Sony LED TV Bravia 40% share, Cybershot has 42% share
in compact digital cameras, Handycam 90% share in camcorders, and Sony
Vaio 20% share in consumer laptops.
Sony has cultivated in the minds of consumers a super premium brand status in
India which they developed by pricing their products relatively higher than their
competitors. It is this price positioning which has made all Sony’s products
aspiration to consumers of all ages.
Sony also operates successfully in China, USA, Europe and other parts of Asia.
13. 22 October, 2015 Global Marketing 13
Global Revenue of SONY
Source: http://www.wikinvest.com
14. 22 October, 2015 Global Marketing 14
Conclusion
• Sony offers the same products in different countries to
serve similar needs of worldwide consumers making
them a global company. This successful strategy derived
from the strengths of Sony over competitors in terms of
anticipating hidden consumer needs such as PlayStation
which served worldwide consumers for entertainment.
This places Sony one step ahead of their competitors.
• As a consequence of global availability and serviceability
of Sony, and consideration of Sony global marketing
strategy, it has gained global recognition and consumers’
loyalty. Yet, Sony managerial structure coordinates
decision through its home country.
Sony made its way into being a strong competitor in global competitions on the basis of pricing, promotions, and consideration of diversity in market environments.