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After successfully issuing a €100 million Eurobond in 2005, executives at Parex Banka (Parex) in Riga, Latvia are considering issuing a second bond with a face value of €200 million and a term of 5 years. In planning the bond issue, the bank is debating the bond's characteristics, such as the currency (Euro versus U.S. dollar), the spread they would initially offer and how they would approach the meeting with potential investors. Students are tasked with assessing the bank's financing needs and recommending whether the bond should be issued and if so, its currency and price.

This note explores how advertising works from a consumer behavior perspective. Following an overview of some of the traditional hierarchical approaches to studying advertising and limitations associated with these models, the elaboration-likelihood model (ELM) is introduced as a means of addressing some of these deficiencies. The ELM is then examined within an advertising context. Subsequently, subliminal advertising is briefly considered. Lastly, issues related to measurement of advertising effectiveness are discussed.

In February 2007, Loblaw Companies Limited (Loblaw) was far and away the dominant food retailer in Canada with a market share of 35 per cent across its various retailing formats. As part of its long term retailing strategy and in a bid to reduce the impact of Wal-Mart Canada's entry into food retailing, in 2004 Loblaw began to build new The Real Canadian Superstores in Ontario and position them as blockers that resembled Wal-Mart's U.S. combination food and general merchandise superstores. It overhauled its entire logistical system to improve its cost structure and it brought in new senior executives in 2006. Unfortunately, The Real Canadian Superstores appeared to be disappointing some customers, retail analysts, industry experts and even former Loblaw executives. Meanwhile, Wal-Mart entered the retail food market in 2006 with distinctive emphasis on fresh produce and deli offerings on top of its low prices and wide assortment. The question for Loblaw's executive team was whether or not to make any strategic changes, and, if so, in what direction.

The PlayStation 3 (PS3) was the successor of the acclaimed PlayStation 2 (PS2), recognized as the world's best-selling video game console with more than 100 million units sold. The unprecedented display of enthusiasm for the PS3 suggested that Sony had another winner on its hands. The company projected sales of six million PS3 consoles worldwide between November 2006 and March 2007, a level that the PS2 took almost a year to reach. Sony's initial euphoria was short-lived. By February 2007, more than a third of PS3 consoles remained unsold, while some retailers reported a higher number of returns than sales. Consumers said they felt let down by Sony. The PS3 looked no better than Microsoft's Xbox 360, they complained, even though the Xbox 360 had already been on the market for more than a year, and sold for $200 less than the PS3. Customers also lamented the PS3's lack of interesting games, spotty support for PlayStation 2 games, and uninspiring online capabilities. Meanwhile, Nintendo's inexpensive and quirky Wii console had become all the rage, despite its underpowered processor and comparatively basic graphics. The case examines the characteristics of a successful new product launch, particularly product features, brand loyalty, content availability, third-party support, and adherence to industry standards. The case also considers how radical innovations can be used to win market share from technically superior products focused on incremental innovations. Finally, we use a 4P marketing analysis to compare video game systems offered by Sony, Microsoft and Nintendo.

Michael Aniballi is facing a major career transition as he completes his executive MBA degree. He attempts to evaluate three very different job offers by engaging in a thorough self-assessment.

In this supplement to Michael Aniballi (A), product 9B04C035, Michael Aniballi describes how a thorough self-assessment helped him make a difficult career decision.

In March 2005, the vice-president and chief operating officer of the Canadian Air Transport Security Authority (CATSA), was thinking about how to best harness the business intelligence (BI) system that CATSA had implemented. From its creation in 2002, CATSA had developed an organizational structure with more than 200 managers overseeing 4,000 screening officers. In June 2003, a BI solution was developed and, in 2004, the solution was launched. The vice-president wanted to know whether his team could anticipate and manage the changes that the new BI system would trigger.

A research team has discovered a treatment to reduce the severity of spinal cord injuries and improve the injured victim's long-term quality of life. The director of the team fears that the biopharmaceutical company that owns the patent for the antibody used in the treatment will not pursue the development of this application, and she must develop a strategy to garner the firm's support. If the patent holder chooses not to move forward with the treatment, the director has the option to continue development herself, but she is not convinced she has the business skills to do so. Students consider the ethical dilemma of balancing the necessity of a business to generate profits for its investors with the needs of society.

This case is about managing large supply change outsourcing relationships over time. The focus is on the challenges service providers and their customers face as they seek to continually find new sources of value as the relationships change. Emphasis is placed on issues related to coordinated capabilities across functional boundaries, information sharing and developing information technology readiness.

The note on material requirements planning (MRP) explains MRP at an introductory level, indicates some of the essential ingredients for success, and suggests the implications for MRP adopters who are unable to provide them.

The chief executive officer (CEO) of epost is preparing for a meeting with his successor. Epost, a division of Canada Post, is in a transition and many decisions will need to be made by the successor. With the introduction of the Internet, people are using regular postal services less frequently. Epost was created to generate revenue and to provide customers the ease of paying bills electronically. In 2004, epost acquired its competitor, Webdoxs. Implementing epost posed many information technology (IT) challenges because financial and personal information is exchanged and stored, and, therefore, the service has to be reliable and secure. The CEO ponders several issues as he prepares for his meeting with his successor.

Students must analyse the marketing, operating and financial aspects of a personal fitness training centre to be located in London, Ontario, to determine an appropriate pricing and promotion strategy and the resulting projected financial success of the venture. Students need to develop cash budgets based on their assessment of the information provided. The analysis points to the financial uncertainty for a start-up company without hands-on experience from past years of operation. The case is suitable for class or as a report on business plan evaluation.

In 2005, the vice-president of sales and marketing for the Canadian division of Spectrum Brands Inc. must determine his next steps regarding the structure of his sales force. Spectrum Brands (Spectrum), a global consumer products company formerly known as Rayovac Corporation, had made a number of acquisitions to diversify and expand its product and brand portfolio. With these changes, Spectrum had become a leading supplier of consumer batteries, lawn and garden care products, specialty pet supplies, and shaving and grooming products. The vice-president of sales and marketing was charged with the task of creating a national sales force from the teams of the newly merged companies. Knowing the importance of the sales function to each of these companies, he wanted to ensure; despite the differences among the diverse groups, that he still maintained a team which would effectively and efficiently continue to increase the sales of each business unit.

The vice-president of sales and marketing was contemplating how to grow the Rayovac Battery Division of Spectrum Brands Canada Inc. (Spectrum). Spectrum, a global consumer products company, owned a variety of brand name products. The vice-president of sales and marketing knew that, with effective marketing, the rechargeable battery market was one that would likely grow within North America as it had in Europe. Major competitors were not focusing on this product category, fearful that it would cannibalize sales of their non-rechargeable products. Rayovac could use this opportunity to increase its presence and brand name recognition by entering the back door instead of competing head-to-head against the well-established market leaders - Duracell and Energizer. The vice-president wondered whether this was a business worth pursuing and, if so, how he would market the Rayovac line within Canada. Students will assess opportunities and develop marketing strategies to pursue these opportunities. The case also shows students how building one segment of the market might lead to building other related segments.

A small family-oriented recreation park owned by the Corporation of the City of London, Ontario, has received $6 million for improvements. Of this amount, $1 million has yet to be spent. Students are asked to (1) analyse the industry and competitive conditions for a family-oriented theme park; (2) organize and analyse survey results; (3) perform a straightforward sub-unit evaluation; (4) perform a vertical analysis; (5) complete two differential analyses (with varying difficulty); (6) project a statement of earnings; (7) recommend a financing alternative and (8) devise a promotional plan within the constraints of a budget.

The founder/owner of Sunripe Marketplace (Sunripe) is thinking about the stores' product offerings. He has two fresh produce-focused stores and a unique set of distribution and store-level systems that differentiate Sunripe from other supermarkets. Being a small retailer allows the owner to only choose the best and freshest products for his two stores. His stores have several private labels that customers like. Sunripe's owner must now consider how to improve the marketing of these private labels.

This case allows for a discussion on loyalty programs. How should irewards, a consumer loyalty program, take advantage of the new capabilities promised by Indigo's new customer relationship management (CRM) system. Would adjustments to the pricing structure or the membership discounts be appropriate? Ultimately, how could Indigo ensure that its irewards program was both meaningful to customers and contributed to sales growth? The basis of the irewards program was an annual membership that afforded the member discounts on books. Members were assigned a membership card with a specific number that referred to their account; an annual membership fee was the cost of the program to the customer.

The director of La Liberte, a French not-for-profit weekly newspaper, needed to revitalize the newspaper as sales had been declining consistently for the past 15 years. The newspaper's mission was to serve the French community in Manitoba, Canada. Survival of a French newspaper was essential for the French culture in the community. To reverse the negative sales trend, the director conducted a survey. Based on the findings of the survey, the director had to balance his desire to serve the French community with the need to be financially viable.

This case documents more than 15 years of U.S.-based Cummins, a global leader in diesel and allied technology, and its investment activities in China. While the macro level indicators seem to suggest the possibility to hit $1 billion in revenues in China by 2005, there were several pressing problems that put into question Cummins' ability to realize this target. Students are presented with four specific situations and must develop an appropriate action plan. They are related to the respective streamlining and consolidation of several existing joint ventures, distribution and service, and staffing. The case presents the complexity of managing country level operations and the role of executive leadership of a country manager.

Selkirk Group is a family-owned brick manufacturer which has built an export business to Japan and other Asian markets from zero to 10% of its volume in seven years. The managing director of the company raises the question of whether it is time to change their regional export strategy and organizational structure in light of the Asian economic crisis and the reasons for their competitive success in both Australia and Asia.