Moleskine Marketing Analysis

Moleskine Marketing Analysis 1.0 Executive Summary Moleskine was founded in 1997 by a small Milanese publisher that wanted to revive a product that is rich in history and tradition. Based on the case study we are aware that moleskine is trying to bring back a product that soon to be vanished. It is critical and crucial to know that how consumer behavior can help to keep this traditional product alive by understanding characteristics personalities of consumers. Further segmenting them to be able to find out a solution that can assist marketers in planning their marketing mix, communication tools to connect with the modern consumer, also coming up with new strategies and tactics of marketing communication. 1.2 Definition of Personality Personality might be characterized as the internal aspects which impacts a singulars conduct and activities consistent with the social and the physical environment. Attributes contrasts one single person from an alternate singular, no two individual impart the same qualities and are precisely indistinguishable. 1.3 Neo-Freudian Theory In the case of the Neo-Freudian Theory, consumers of Moleskine possess more of the detached personality, as these are the individuals who move far from others. They covet independence, freedom, individualism or opportunity from commitments. This can be seen in Moleskine as well, as it can be seen in the case study. â€Å"Moleskine launched its modern-era range of diaries in 1997, around the time laptop computers and personal telecommunication devices were breaking into the market† (Schiffman, O’Cass, Paladino and Carlson 2014, 621). This shows that moleskine’s consumers still uses analogue or old fashioned products even in times of rising technology as they do not conform to the society and uses whatever which is suitable for them. 1.4 Traits Theory In the case of the traits theory, moleskine’s consumers are those which possesses high scores for extroversion and openness to experience from the big five model as they are creative, will document their likings, personal stories and experiences. They are people who loves to travel and are interested in other cultures and are comfortable to socialize with others. Basically, these are traits which are similar to that of moleskine as they focuses on art, culture and creativity. Furthermore, their products are divided into 3 categories which are travelling, reading and writing which are again similar of their consumers. It is the similarity of the consumer and brand personality which attracts the consumers to buy and use moleskine’s products. 1.5 Personality and Consumer Behavior As noted from above, consumers of moleskine are those who possesses detached personality and in the case of consumer behavior. It is similar to that of the inner-directed consumers, as they depend on their internal values or benchmarks in assessing new items. Inner-directed consumers will buy products that please and perform for them and they are not concerned about what others think of the product that they are using. The consumers deem that moleskine’s notebook satisfies their inner values and performs for them. Similarly, moleskine is a product of old tradition and old fashioned in the modern age of technology where laptops and computers are commonly used. However, the consumers are susceptive to interpersonal influence as well. This is due to the fact that they feel that moleskine’s art, culture and creativity fits their social group. There will definitely be commonality between moleskine’s consumers and other consumers. Contrary to having detached personality, moleskine’s consumers too have other personality traits like being modern which are common to other consumers as well. The consumers are modern even though of the analogue product that they are using, as moleskine uses new media to communicate with their consumers. Such as MSK 2 which is a digital notebook which the consumers can customize and create their own notebook. Moleskine utilizes social media, in the likes of YouTube, Vimeo, Facebook, etc. 2.0 VALS program VALS is a program developed by Arnold Mitchell allowing us to better fathom about the segmentations and profile of adults American consumers. There are eight type of adult American consumers segmented by VALS based on their mindsets, using a specific set of psychological traits and key demographics that drive consumer behavior. The eight type of adult American consumers are the innovators, thinkers, believers, achievers, strivers, experiencers, makers and lastly the survivors. There are three primary motivation that drives the eight different types of consumers they are ideas, achievement and self-expression. The concept of primary motivation explains consumer attitudes and anticipates behavior. The resources of the eight type of consumers would also affect the consumer’s behavior, resources refers to a person’s age, income, education, self-confidence, health, eagerness to buy or try and its energy level this psychological, physical, emotional, demographic, socioeconomi c will constrain or enhance a persons expression of his or her primary motivation. 2.1 Roy Morgan’s value segments Roy Morgan’s value segments of Australian consumer has a segmentation of ten different type of consumers group. â€Å"The ten types of consumers are the socially aware, visible achievement, young optimism, real conservatism, look at me, conventional family life, traditional family life, a fairer deal, something better and basic needs†.(Roy Morgan 2014) This two methods shows how age, gender, marital status, income, education, occupation, social class, health and personality influence the consumer behavior. 2.2 Where would Moleskine consumers fit? The moleskine notebook has a long history and tradition it is reputed to have been used by famous artist, thinkers and writers. The notebook was made famous by Bruce Chatwin and he was the one who gave the notebook its name. â€Å"The philosophy of moleskine products are creativity, imaginative and travelling†. (Moleskine 2014) The moleskine product will fit better with the Roy Morgan’s value segmentation under the categories of young optimism and real conservatism. 2.3 Young optimism Young optimism refers to a person seeking to improve their prospects in life and wanted to be respected in society. They are long term thinkers, careers planner, attending university and contemplating about the future. Their mindset tends to be associated with people who want to experience life to their fullest for example vacation, a career, friends, and family. They are innovative and interested in technology. Thus the moleskine products totally fits into the profile of the young optimism who are imaginative as they are constantly thinking of their future, creative as they are innovative and interested in technology and lastly they would love to travel around the to broaden their perspective of life. 2.4 Real conservatism Real conservatism refers to people who are cautious about new things and ideas. They hold very conservative thinking and feel that things are not as good as they used to be. They are willing to pay more for products with quality and are particularly attracted to older, well established brands. Moleskine is a well-established brand as it is the successor to the legendary notebook that has been used by renowned artists and thinkers such as Vincent van Gogh, Pablo Picasso, Ernest Hemingway, and Bruce Chatwin. Thus giving it a sense of class and nostalgia as a diary that retains the old world charm which also could be a trusty and handy travel companion and it fits right into the profile of the real conservatism. 2.5 How could these systems assist marketers? The use of these systems will allow marketers to position or promote their products better. They can use these systems to know which specific segment of consumer that they are targeting, and it will definitely be easier for them to plan the marketing mix (4Ps) strategy with the help of these systems. 3.0 Integrated Marketing Communications Integrated marketing communications (IMC) is define as the coordination and integration of all marketing communication tools, avenues, and sources in a company into a seamless program designed to maximize the impact on customers and stakeholders (Clow and Baack 2012). It is a concept of marketing communications planning that recognizes the added value of a plan that evaluates the strategic roles of a variety of communication disciplines – general advertising, direct response, sales promotion, and public relations – and combines these disciplines to provide clarity, consistency, and maximum communication impact (Kitchen and Burgmann 2010). 3.1 Recommendations In order for Moleskine to reach out to consumers who are less I.T savvy and resonate better with international consumers, following are some of the recommendations suggested. Making use of advertising through television, magazines or newspapers will get the message across to audiences whom are less I.T savvy and build a repetitive and consistent approach to increase product awareness. Moleskine can make use of celebrity endorsement for its products to reach out to international consumers. This means using brand ambassadors that are recognizable by global consumers. The firm can participate in inter-national trade fairs or exhibitions to publicize and sell their products. This provides an effective way of meeting many existing and potential consumers from different countries (Doole and Lowe 2008). 3.2 Jenifer Aaker’s Brand Personality Dimensions Jenifer Aaker’s brand personality framework is use to describe a brand profile which includes tangible and intangible traits and correlates to humans’ characteristic. This includes five dimensions (Friend 2012): Sincerity – This dimension portrays as down-to-earth, honest, wholesome or cheerful in consumer minds. Excitement – Daring, spirited, imaginative, and on the cutting edge of technology and performance are the most exciting brands. Competence – This refers to brands with traits such as reliability, intelligence, and success. Sophisticated – A brand that is sophisticated is viewed as charming and fit for the upper classes. Ruggedness – Rugged brands are seen as outdoorsy and tough. The two dimensions that will be suitable for Moleskine are ‘Competence’ and ‘Excitement’. The company had made use of technology such as cloud, social media and iPhone and iPad apps to promote and push their products to the market. These provide consumers the convenience and reliability in terms of data storage on their smart devices. Moreover, by utilizing the various forms of social media will keep Moleskine updated with the latest trends, hence keeping up with the ever changing technology. 4.0 Moleskine’s Segmentation and Marketing Strategies Yes, it is possible for other products to use similar segmentation and marketing strategies to Moleskine. Psychographic segmentation divides buyer into different groups based on 1) Lifestyle 2) Social Class, and 3) Personality Characteristics. Moleskine targets designers, professionals, writers, creative, imaginative people, travelers, and business people. Moleskine keeps in mind both their consumers’ lifestyle and their social classes. From working class to upper class where people need to develop new ideas, travelers who love to pen down their experiences, and business people who need to organize their schedule. Moleskine’s consumers’ personality characteristics are creative, imaginative, passionate, traditional and organized. Moleskine’s products vary from simple to stylish hard and soft cover of diaries and etc. The price setting is high. Placing is exclusive distribution. For promotion, they focus on communicating with consumers through social media a nd interactive websites. Moleskine’s positioning is to open platforms for people to be creative and communicative which contributes to the development of sharing knowledge and culture. Few products that used similar segmentations and marketing strategies as Moleskine are Polaroid cameras and Chanel’s products 4.1 Polaroid Corporation Targets creative people, artist, designers, photographers, and experiencers, people that see Polaroid as a status of lifestyle. Polaroid consumers’ social class are from upper to working class, some people like to instantly capture their current experience and develop the picture on the spot; people use it for their projects or special occasions. Polaroid consumers’ personality characteristics are creative and passionate. Polaroid is an exciting brand for youths. Polaroid communicates with consumers through social media and interactive websites. They have their own Facebook, Pinterest, YouTube and Twitter accounts that they constant update status, videos, and pictures. They created smartphone apps such as â€Å"Polamatic by Polaroid† where people can take pictures and edit them by applying Polaroid’s authentic frames and extra features. Polaroid Corporation has launched their new retail store called Fotobar, which is available, online as well. It serves a function where people are enabled customize their Polaroid pictures (Melanson, 2013). Polaroid has partnerships with the Andy Warhol Museum and Lady gaga. Polaroid uses global consumer segment as in every country there will be a group of people that meets Polaroid’s targeted market. 4.2 Chanel Founded in the year 1909. Chanel consist of lifestyle and luxury products. Chanel is known to be a sophisticated brand for elegant women. Chanel’s products consist of fashion clothing, fine jewelry, watches, accessories, perfumes, and cosmetics. They place their products in their own boutiques. However, their cosmetics and perfumes can be found in certain specific departmental stores. Pricing is high. Their promotion is through fashion shows, celebrities, events, television, magazines, and exhibitions. Chanel uses modern technology to communicate with their consumers. Social media platforms like Facebook and Twitter, YouTube to update their new products, Videos events, and status. Chanel’s videos constantly films and emphasize on their â€Å"brand heritage† and how it still exist in their products with a fusion of modern. This strategy reinforces the relationship consumer need to have with the product. Chanel has re-designed their website to create a sleek site t hat shows elegance and created a few smartphone apps that features videos and looks of the latest products, fashion news, behind the scene features, and contact information for all boutiques, skin care tips using their brand’s facial products. Chanel’s Coco Shine Lipstick was first launched and sold through the social media platform, Facebook. Users were to â€Å"like† the page and get complimentary shipping when purchasing. It increases awareness on their online store as some consumers are unaware of it, also, by â€Å"liking† the Facebook page will allow consumers to be involved in their future news or product launches. (Zelesny, 2011) Chanel used a male celebrity; Brad Pitt to launched their advertisement on Chanel No.5, Chanel’s female perfume that became the talk on social media. They did it intentionally to increase the popularity of the product (Carr, 2012). Chanel products are lifestyle choices and their product range will fit across in mos t countries and in every country, there is definitely a group of upper class, high-income people that lives a similar luxurious lifestyle allowing global consumer segmentation of products.

Night World : Huntress Chapter 1

It's simple,† Jez said on the night of the last hunt of her life. â€Å"You run. We chase. If we catch you, you die. Well give you three minutes head start.† The skinhead gang leader in front of her didn't move. He had a pasty face and shark eyes. He was standing tensely, trying to look tough, but Jez could see the little quiver in his leg muscles. Jez flashed him a smile. â€Å"Pick a weapon,† she said. Her toe nudged the pile at her feet. There was a lot of stuff there- guns, knives, baseball bats, even a few spears. â€Å"Hey, take more than one. Take as many as you want. My treat.† There was a stifled giggle from behind her and Jez made a sharp gesture to stop it. Then there was silence. The two gangs stood facing each other, six skinhead thugs on one side and Jez's gang on the other. Except that Jez's people weren't exactly normal gang members. The skinhead leader's eyes shifted to the pile. Then he made a sudden lunge and came up with something in his hand. A gun, of course. They always picked guns. This particular gun was the kind it was illegal to buy inCalifornia these days, a large caliber semiautomatic assault weapon. The skinhead whipped it up and held it pointed straight at Jez. Jez threw back her head and laughed. Everyone was staring at her-and that was fine. She looked great and she knew it. Hands on her hips, red hair tumbling over her shoulders and down her back, fine-boned face tipped to the sky-yeah, she looked good. Tall and proud and fierce†¦ and very beautiful. She was Jez Redfern, the huntress. She lowered her chin and fixed the gang leader with eyes that were neither silver nor blue but some color in between. A color he never could have seen before, because no human had eyes like that. He didn't get the clue. He didn't seem like the brightest. â€Å"Chase this,† he said, and he fired the gun. Jez moved at the last instant. Not that metal through the chest would have seriously hurt her, but it might have knocked her backward and she didn't want that She'd just taken over the leadership of the gang from Morgead, and she didn't want to show any weakness. The bullet passed through her left arm. There was a little explosion of blood and a sharp flash of pain as it fractured the bone before passing on through. Jez narrowed her eyes, but held on to her smile. Then she glanced down at her arm and lost the smile, hissing. She hadn't considered the damage to her sleeve. Now there was a bloody hole in it. Why didn't she ever think about these things? â€Å"Do you know how much leather costs? Do you know how much aNorthBeach jacket costs?† She advanced on the skinhead leader. He was blinking and hyperventilating. Trying to figure out how she'd moved so fast and why she wasn't yelling in agony. He aimed the gun and fired again. And again, each time more wildly. Jez dodged. She didn't want any more holes. The flesh of her arm was already healing, closing up and smoothing over. Too bad her jacket couldn't do the same. She reached the skinhead without getting hit again and grabbed him by the front of his green and black Air Force flight jacket. She lifted him, one handed, until the steel toes of his Doc Marten boots just cleared the ground. â€Å"You better run, boy,† she said. Then she threw him. He sailed through the air a remarkable distance and bounced off a tree. He scrambled up, his eyes showing white with terror, his chest heaving. He looked at her, looked at his gang, then turned and started running through the redwoods. The other gang members stared after him for a moment before diving for the weapons pile. Jez watched them, frowning. They'd just seen how effective bullets were against people like her, but they still went for the guns, passing by perfectly good split-bamboo knives, yew arrows, and a gorgeous snakewood walking stick. And then things were noisy for a while as the skinheads came up from the pile and started firing. Jez's gang dodged easily, but an exasperated voice sounded in Jez's head. Can we go after them now? Or do you want to show off some more? She flicked a glance behind her. Morgead Blackthorn was seventeen, a year older than she, and her worst enemy. He was conceited, hotheaded, stubborn, and power-hungry-and it didn't help that he was always saying she was all those things, too. â€Å"I told them three minutes,† she said out loud. â€Å"You want me to break my word?† And for that instant, while she was snarling at him, she forgot to keep track of bullets. The next thing she knew Morgead was knocking her backward. He was lying on top of her. Something whizzed over both of them and hit a tree, spraying bark. Morgead's gem-green eyes glared down into hers. â€Å"But†¦ they're .. . not. . . running,† he said with exaggerated patience. â€Å"In case you hadn't noticed.† He was too close. His hands were on either side of her head. His weight was on her. Jez kicked him off, furious with him and appalled at herself. â€Å"This is my game. I thought of it. We play it my way!† she yelled. The skinheads were scattering anyway. They'd finally realized that shooting was pointless. They were running, crashing through the sword fern. â€Å"Okay, now!† Jez said. â€Å"But the leader's mine.† There was a chorus of shouts and hunting calls from her gang. Val, the biggest and always the most impatient, dashed off first, yelling something like â€Å"Yeeeeeehaw.† Then Thistle and Raven went, the slight blond and the tall dark girl sticking together as always. Pierce hung back, staring with his cold eyes at a tree, waiting to give his prey the illusion of escaping. Jez didn't look to see what Morgead was doing. Why should she care? She started off in the direction the skinhead leader had taken. But she didn't exactly take his path. She went through the trees, jumping from one redwood to another. The giant sequoias were the best; they had the thickest branches, although the wart like bulges called burls on the coastal redwoods were good landing places, too. Jez jumped and grabbed and jumped again, occasionally doing acrobatic flips when she caught a branch just for the fun of it. She loved Muir Woods. Even though all the wood around her was deadly-or maybe because it was. She liked taking risks. And the place was beautiful: the cathedral silence, the mossy greenness, the resinous smell. Last week they'd hunted seven gang members throughGolden GatePark . It had been enjoyable, but not really private, and they couldn't let the humans fight back much. Gunshots in the park would attract attention. Muir Woods had been Jez's idea- they could kidnap the gang members and bring them here where nobody would disturb them. They would give them weapons. It would be a real hunt, with real danger. Jez squatted on a branch to catch her breath. There just wasn't enough real danger in the world, she thought. Not like the old days, when there were still vampire hunters left in the Bay Area. Jez's parents had been killed by vampire hunters. But now that they'd all been eliminated, there wasn't anything really scary anymore†¦. She froze. There was an almost inaudible crunching in the pine needles ahead of her. Instantly she was on the move again, leaping fearlessly off the branch into space, landing on the spongy pine-needle carpet with her knees bent. She turned and stood face-to-face with the skinhead. â€Å"Hey there,† she said.

Critical Discourse Analysis

CRITICAL DISCOURSE ANALYSIS OF AN EDITORIAL NOTE In this text, I am going to analyze an editorial column which is called â€Å"Improcedente paralizacion en el SML†, written by Diario La Tercera. I am going to analyze it taking into account three dimensions of analysis. First, I am going to analyze textual practice, follow by the discourse practice, and finally the social and ideological practice. Textual practice: According to this dimension, I could say that it is not a co-operatively constructed because it is not representing any conversation but it is constructed by three paragraphs which are connecting the text.Besides, I could mention that the author follows a rule of politeness because it is written in an academic and formal way. Although, the image of the author is not represented in any features in the text, the author's attitude itself is expressed in the text because the author expresses her/him opinion about the mobilization of Servicio Medico Legal, this is respres ented by this phrase: â€Å"Lo ocurrido en este caso es inaceptable†. The meaning is being affected by syntactic structures and lexical choice.They help readers to understand the meaning and the purpose of the editorial note. The syntactic structures are â€Å"se genero un desacato a la autoridad y el incumplimiento de una orden emanada de un tribunal† resulta muy grave que escudandose en demandas laborales, los funcionarios del servicio descuiden la delicada labor que cumplen. Those phrases provide the reasons of the author to mention: â€Å"Lo ocurrido en este caso es inaceptable†.Also, the lexical choice is represented for these words: provoco, paralizacion, movilizaciones, genero, causo, tardanza, afecta, peritajes, among others. Moreover, it is important to include that there are some paradigms the first one is about strike: paralizacion, movilizaciones, paro de actividades. The second one is about social authorities: Servicio Medico Legal de Santiago, orga nismo publico, Carabineros, tribunal, director de la entidad, ministro de Justicia.And the third one is about people: familiares, funcionario, trabajadores, perito, miembros del servicio. Following with this analysis, I could mention that some expressions used by the author to characterize the text are â€Å"Improcedente paralizacion en el SML† this sentence is the title of the editorial column, so at the beginning the author is characterized the text as an editorial which is a text of opinion because with the word IMPROCEDENTE, he/she is exposing his/her stance about the problem.Discourse Practice According to this dimension of analysis, I consider that this text is conventional first because it is referring to a current event and likewise it is not the first time that a Chilean public entity performs a stoppage of its activities. This editorial note remind me others mobilizations that have occurred in Chile for example when the public institutions, like hospitals, kindergar tens, among others, went on strikes during this year.Moreover, this text represents an editorial note because the author is expressing his/her opinion about a current social event. This text is more accessible to different kinds of readers because it is represented an current news so it is not necessary for the readers to read between lines because the text is clear and direct, and it is representing the stance of the author. Also, I could mention that the text is presupposing that the readers know this event and therefore they are going to understand the stance of the author.It could be reflected by this expression: â€Å"Se trata de hechos que no deben repetirse, tal como se comprometio el director de la entidad†. Finishing this dimension. I can say that the producer is the Diario La Tercera and the intended receivers are the people who read this newspaper that could be characterized as people from middle class. Social practice According to this dimension, I can say that th e social identities that the author represents are Diario la Tercera, and also the families affected by this issue.The relationship between the social identities that the author represents is that both parts the newspaper and the families believe that it is a painful issue and it cannot happen again, it could be representative with this expression: â€Å"El paro de actividades causo la tardanza en la entrega de varios cuerpos a sus familiares, prolongando innecesariamente ese doloroso momento† . n addition, I can say that the newspaper is exerting power through the language on the readers, because the newspaper is in charge of selecting the editorial note published and with this kind of editorial column the newspaper is trying to persuade the reader. On the other side, the social goal of the text is to demonstrate that this social problem and create conscious about the topic for this reason the text is mportant to accomplish the goal because without it the reader would not un derstand the meaning of the text. The social situation that the editorial note is produced is a today? s event. It happened a week ago and every day this fact is being showed as regrettable news. Besides, it is a very conventional as I mentioned before because it is a controversial topic which remind us it is not the first time that a public institution goes on strike neglecting their duties and triggering problems to society.It is a fact to say that the author appeals that this event is a serious incident and it has not happened again for that reason he/she claims expression like these: â€Å"Lo ocurrido en este caso es inaceptable†¦se genero un desacato a la autoridad y el incumplimiento de una orden emanada de un tribunal†¦Asimismo, resulta muy grave que escudandose en demandas laborales, los funcionarios del servicio descuiden la delicada labor que cumplen†¦ Se trata de hechos que no deben repetirse†.Finally, the social consequences of the text are to persu ade readers that this incident cannot happen again in a country that claims to be developed. Another social consequence can elicit a response from readers to the public health institutions in order to avoid that these facts do not continue to happen.

6 Tips for Writing Childrens Plays and Scripts

Family Health Assessment Essay examples - 1801 Words

Family Health Assessment Family is the basic unit of society. A family is a set of interacting individuals related by blood, marriage, cohabitation, or adoption who interdependently perform relevant functions by fulfilling expected roles. Health practices are those activities performed by individuals or families as a whole to promote health and prevent diseases. The relationship between members of family influences the understanding of behavior, which is demonstrated in family’s structural, functional, communicational, and developmental patterns (American Academy of Pediatrics, 2003; Bonell et al., 2003).Within families, children and adults are nurtured and taught about health values by word and by example, and it is within families that†¦show more content†¦This family migrated to United States in 2000 and the family consists of husband, 57 year old (ultrasound technician), and his wife, 56 year old (Respiratory technician), and their daughter, 25 years old (registered nurse), and son, 20 ye ars old (college student). Health perception/health management: What is the family’s philosophy of health? Does each family member hold similar beliefs? Husband is the head of the family. All the family members are health conscious. The whole family is covered under medical insurance and adheres to annual health check up. This family prefers homely food and the parents set example for that. They also enjoy the relationship with neighbors and with extended family members. There are no risk factors of smoking, alcoholism, and use of other drugs. Nutritional/ metabolic pattern: What kind of diet is preferred by the family? The nutritional-metabolic pattern depicts characteristics of the family’s typical food and fluid consumption and metabolism (Gordon, 2007). In this particular family, all members follow a well balanced diet. They prefer homely food which is freshly prepared. They are very particular to include traditional Indian food in their daily diet. The family is not having adequate fluid intake in their daily life. Elimination pattern: Is it regular or is there any issue that needs to be concerned? 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Get Capone the Rise and Fall of America’s Most Wanted...

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Lehman Collapse Capital Markets

Question: Discuss about theLehman Collapse for Capital Markets. Answer: Introduction: Brief Description Lehman Brother collapse in 2008 was considered as one of the most tragic events of failure among financial institutions. Before, it collapse the company was considered to be the fourth largest investment bank in America (Iminds, 2010). Began in 1844 by Henry Lehman, Lehman Brother was a small grocery and dry goods store, after two decades they traded cotton, and later Henry Lehman moved to New York to establish a New York Cotton exchange firm. After, the occurrence of this events Lehman went on with this road of success to be able to establish the fourth largest America investment bank. The main areas of business for Lehman before the collapse include; typical investment banking as well as participation in equities, capital markets, investment management and fixed incomes (Iminds, 2010). Their investment banking process could provide financial services such as mergers, underwritings, acquisitions and security issuing. They had also invested globally in fixed incomes, capital markets investment management parts. But, the main revenues of the firm came from fees derived from size of transaction or services being provided by the firm to their customers (Lee, 2009). Despite all these the firm had survived all traumatic events ranging from world wars to the great depression, but the collapse of U.S. housing market brought the company on its knees. Causes of Failure The following are reasons why Lehman Brother bank collapsed: Poor Assets and Risk Management Here, the old saying of not putting all eggs in one basket tends to have a significance. It is evident that when the housing sector market was at peak Lehman borrowed in excessive and mostly invested all its proceeds in to the mortgage market. But for security reasons subprime loans had granted mortgage to houses that Lehman had already bought. Greed and recklessness became the order of the day as they tried to be leaders in the market for the subprime mortgage backed securities. As of 2006 to mid 2007, they had pursued an aggressive strategy where they thought of expanding into commercial real estate, private equities and leverage lending through their capital (Haas Horen, 2012). Hence, their concentration in mortgage made them vulnerable and sensitive leading to the down fall. Management Problems Lehman brother similar to the great city of New York never slept. Whenever the trading bells rang at the NYS Exchange at four that is in the afternoon, the equity guys just packed up because there was nothing else to be done. Bank debts and high yield debts went till seven. In often instances the traders had a normal looking balance sheet that werent drastic; this is because losses were never loved by Lehman management (Dillian, 2011). Hence, the failure by the firm to acknowledge losses might be reasons as to why the business failed. Fraud As of 2007 the American housing market began to crumble due to the increased numbers of default. Hence, this meant losses for Lehman and hence they were forced to write down billion of dollars as bad debts, which greatly deteriorated their financial position. Hence, they were unable manage their financial leverage and took too much risk (Mcdonald, 2015). For the purpose of hiding their poor financial status they ought to develop the Repo 105 transaction to show that they are still maintaining a positive grading based on the rating but that wasnt the case. Such an act of fraud was also a reason to their downfall. Above are reasons as to why Lehman Brothers collapsed but it is also important to at least try and shows the early signs of their collapse, in this case we will outline the activities that I believe are reasons as to why they collapsed. Activities engaged in that showed early signs of collapse Before the collapse, Lehman Brother risk management team had identified several specific inherent risks in the business that lead to the collapse: Operational risk- this tends to be loss that originates from inadequate or failure by the Lehman internal process, including the responsible people and systems and also the external events that they engaged. Credit risk-the firm also run the risk of loaned counterparty being unable to honour the contractual obligation to the Lehman Brothers. As a result, in the future it escalated the possibility of collapse (Benos et al, 2012). Reputational risk-this tends to be the risk of losing the confidence from customers, public and the government as a result of the unfortunate decisions on the clients selection and conduction of the business. In some way these had an influence in their collapse as they faked their records to remain attractive. Market risk-this tends to be a representation of the potential unfavourable change in the value portfolio of the financial instruments as a result of the changes in the market rates, volatilities and prices. Liquidity risk- this was the risk factor where Lehman was unable to fulfil payment obligations, they also borrowed funds in the markets at certain good regular prices for the purpose of funding actual commitment and liquidating their assets. This initiative came as an early sign of their downfall (Tibman, 2009). Exceeding the Risk Limits In 2007 the firm raised a wide risk limit close to $2.3 billion to $ 3.3 billion, justifying it by the modifying of ways that calculate risk they can support. As of September 2007 it was increased to $3.5 billion and $4 billion in 2008. If risk limit were calculated under same assumptions, it would have been $2.5billion. In making analysis of Lehman Brothers mode of risk management, it tends to conclude that Lehman management in countless times had exceeded risk limits, ultimately exceeding risk policies by margins of close to 70% as on the commercial estate, and by 100% on the leverage loans (Paulson, 2010). An explanation to this is the dangerous behaviour in the compensation system. For attraction and sharpening the minds in the industry, they should reward the most revenue generating employee who makes big monetary bonuses. But, the bonus incentives were asymmetric. Implication of Lehman Fall to the International Banking Industry It tends to be perceived that Lehman bankruptcy has some effects on the depreciation in price of the real estate commercial. For instance, when there was liquidatin of $4.3 billion in the mortgage security, it created a sell of in commercial mortgage that was to backed by securities (CMBS) market (Robinson et al, 2009). Some auditors perceive that the collapse of Lehman led to rise of top primary reserve fund. It was the only time since 1994 that the money market fund experienced a drop which was below $1 per share level. Hence, the collapse of Lehman wiped out over $46 billion in the market value. Collapsing of the firm acted as a catalysts to the purchasing of Merrill Lynch by the American bank as an emergency so as to deal with the issue. Loss of Lehman created a loss of close to $48 billion of the receivables in the derivatives that could be otherwise relaxed (Dziedzic, 2010), and a total of $75 billion was destroyed (Dziedzic, 2010.) Could the Collapse have Been Prevented? Iminds (2010) perceives that Lehman collapse could have been easily avoided only if they were proactive initiatives held by the executives to make sure there is effective control of the risk management in their operations. Nuerberger officials had send Lehman Brother executive team some memos suggesting they forgo the multi-million dollar bonus as it created a strong message to investors and employees as the management accountability was decreasing. Hence, Iminds (2010) argues that the collapse of the financial institution could have been avoided only if there was adoption of effective risk management practice in the derivative trading. As of Lehman case they had invested more on the risky derivatives. It is perceived that the main motive of the derivatives was to assist the actors found in the real economy insurer against any risk, but in some cases the derivates trading had crossed the price stabilization and the risk management speculation. Therefore, if regulators of derivatives had effectively considered this Lehman Brother wouldnt have collapsed. Conclusion It is evident that the failures of Lehman Brother mostly originate from their internal operations, thus a lot of questions have been asked as to whether the interaction of Lehman brother and government agencies had regulations and monitoring of Lehman leading to the fall. Thus, a lot of analyst tend to believe that Lehman bankruptcy had some set off in panic that created a threat to U.S financial system and also the entire global financial system (Mcdonald Robinson, 2009). Hence, after the fall of Lehman a lot of concerns have risen as to what created the failure of the onetime leading investment bank. it is perceived that the questions are currently hard to answer because little knowledge is known of what happened in Lehman. Creating the need of coming up with effective strategies that could avoid an instance where there is collapse of a financial institution (Mcdonald Robinson, 2009). Recommendations It tends to be believed that the bonus system had some encouragement to the management to increase their risk. In most cases, the operational errors and excluding assets in stress test created limitations and over-leverage in the balance sheet which greatly fuelled the bonus aspect (Dziedzic, 2010). Any banking system that has no bonus system tends to be unthinkable for many, as it is a way of decreasing future bonus in relation to risk taking in the building of risk aversion parameters as found in the bonus criteria. For instance, no bonus is to be rewarded if the test shows large risks even if the profits appear big, though it needs stress testing so as to be executed independently. It is perceived that a lot of market risk could be avoided only if Lehman hadnt focused on investing heavily on the correlated assets. Here, the credit crunch hit large because of subprime crisis as it affected both the commercial real estates and leverage loan assets (Hass Horen, 2012). Thus, the ties between the assets was struck quickly by losses created in the fronts. Thus, the consequences greatly hit the chain making it less fatal if the bank was operating more diversely and no focusing mostly on the portfolio. They also made themselves vulnerable to the liquidity risks. Since, they depended on the short term funding for long term investment, which was a fatal mistake as credit market dried up and there was no illiquid assets. As of 2008, there was no government agency that had sufficient authority to compel Lehman operation in the best that made them avoid the viability of loss (McDonald, 2015). Hence, the need of a solution regime where analogous establishment of the failing banks took place, so as to avoid options in the future between baling out a fail, and systematic critical firm or allowing the disorderly bankruptcy. Hence, development of such a regime was expected by the global banking industry to protect the economy as well as maintaining that there is an improvement in the marketing discipline through maintenance of failing firm shareholders and creditors losses and replacement of the management. It is perceived if they had done adequate stress testing and simulations, they would not have changed their focus from brokerage and financial services. The high leverage ratio affected the other risks adversely making downfall fast and unstoppable References Jacoby, J., Karzis, M., Kroft, S., Valukas, A. R., Lee, M. (2012).The case against Lehman Brothers, 60 Minutes, April 22, 2012. New York, N. Y., CBS News. Gambacorta, L., Mistrulli, P. E. (2011).Bank heterogeneity and interest rate setting: What lessons have we learned since Lehman Brothers?Basel, Bank for International Settlements, Monetary and Economic Dept. Dziedzic, S. J. (2010).Lehman Brothers' dance with delusion: wrestling Wall Street. [Place of publication not identified], Stanley J. Dziedzic, Jr. Haas, R. D., Horen, N. V. (2012).International shock transmission after the Lehman Brothers collapse evidence from syndicated lending. London, European Bank for Reconstruction and Development. Iminds. (2010).Lehman Brothers: Politics, Law Business. iMinds. Mcdonald, O. (2015).Lehman Brothers: a crisis of value. Lee, L. J. (2009).Lehman Brothers. Mosman, iMinds. Dillian, J. (2011).Street freak: money and madness at Lehman Brothers : a memoir. New York, Simon Schuster. Benos, E., Garratt, R., Zimmerman, P. (2012).Bank behaviour and risks in CHAPS following the collapse of Lehman Brothers. London, Bank of England. Mcdonald, L. (2009).The incredible inside story of the collapse of Lehman Brothers. London, Ebury Press. Tibman, J. (2009).The murder of Lehman Brothers: an insider's look at the global meltdown. New York, Brick Tower Press. Paulson, H. M. (2010).On the brink: inside the race to stop the collapse of the global financial system. New York, Business Plus. Mcdonald, L. G., Robinson, P., Davies, E. (2009).A colossal failure of common sense the inside story of the collapse of Lehman Brothers. [New York, N.Y.], Random House Audio. Mcdonald, L. G., Robinson, P. (2009).A colossal failure of common sense: the inside story of the collapse of Lehman Brothers. New York, Crown Business. Mcdonald, L. G., Robinson, P. (2009).AÃÅ'†¢omoÃÅ' £ÃƒÅ'‚ng Lehman Brothers : a colossal failure of common sense MyÃÅ'Æ’ ; The inside story of the collapse of Lehman Brothers. Chauffour, J.-P., Malouche, M. (2011).Trade finance during the great trade collapse. Washington, D.C., World Bank..