Lancer Gallery (LLC) is a company that sells and sources South American and African artifacts, jewelry and pottery. Lancer Gallery originated as a trading post in the early 1900s and now one of the most reputed dealers in southwestern artifacts. Lancer is headquartered in Phoenix, Arizona with branches in Los Angeles, Boston and Miami. In Recent years Lancer has started to expand its product line to include
1) Columbian artifacts from Peru and Venezuela.
2) Tribal and Burial artifacts from Africa.
Finally, Lancer is doing great financially with gross sales of $35 million with an increase of 20% per year in the last decade.
Lancer Gallery has established itself as a reputed company, but is currently in a dilemma. A mass merchandise department
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This conflicts with the image that Lancer has built over the years, a brand that has limited distribution. This will hurt their image and also bring a change in their price structure. The current distributors and customers may also be upset with this decision. If I were to be in Andrew Smythe‘s (Director) position I would reject the contract mainly because, I want Lancer to be known for its Authentic Artifacts rather than to be known as a Replica production company. Lancer Gallery luckily has strong attributes and hence needs to focus on how to overcome this challenge and make the required changes in order to increase the gross profits. Let’s have a look at the positives that will help us to get back at the …show more content…
Usage of Social Media: To begin with, Marketing Head should make use of social media (Facebook, Twitter) and news channels to showcase the Lancer products on a wider scale. Also Lancer should use innovative marketing strategies like link their products with popular products of different countries.
✓ Long-Term Contracts: Lancer has long term contracts with many craftsmen in Central, South and Southwestern America and in Africa. Now here is an opportunity to broaden their base in these countries by arranging meetings with these craftsmen on how to spread awareness regarding the Lancer products.
✓ Worldwide Survey: Lancer should conduct a worldwide survey to get an idea as to where we can market our products since a lot of awareness activities have already been done.
✓ Study Customer Patterns: Lancer Gallery can get to know the customer patterns and the various countries interested in their products based on the results of the survey. The marketing team needs to step in again and arrange meetings with the respective country representatives and talk about the
The acceptance or rejection of this contract is a problem because on one hand the acceptance could mean more money (which the company needs due to slowed revenue growth from the recession), but on the other hand the contract could hurt the brands carefully considered image indefinitely. The contract proposed an increase of 4 million in additional sales, but would also require Lancer Gallery to triple its replica production to meet the stated demands. In the past Lancer Gallery had made some exceptions to produce replicas through long-term contracts with native craftspeople in Central America.
Timmerman, Kelsey. "A Consumer Goes Global." Where Am I Wearing?: A Global Tour to the Countries,
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· Use of social media for promotion- word of mouth and social media help to get the message across and promote the product efficiently
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a company can familiarize itself with cultural nuances which may impact the design, packaging or advertising of the product. Moreover, traveling abroad allows one to locate and cultivate new customers, as well as improve relationships and communication with current foreign representatives and associates