abhishreshthaa
Abhijeet S
World Financial Group (WFG) is a financial services marketing organization based in Duluth, Georgia that markets investment, insurance, and various other financial products through a network of associates in the United States and Canada. WFG is a Network Marketing company that utilizes a system also known as Multi-level Marketing (MLM).[1][2] It is a wholly owned subsidiary of AEGON.[3]
World Marketing Alliance introduced the Business Format System (BFS) in 1992, a blueprint to help its associates build and run their business.[4] MD TV, the company's private satellite television network, was also introduced. During this period, the company expanded its operations to Canada, Taiwan, Mexico, Puerto Rico, Guam and the Philippines.[4] The company held its first convention in Las Vegas in 1992. It was attended by about 2,000 associates.[4]
On March 23, 1998, WMA Executive World Headquarters opened in Duluth, Georgia. The 100,000-square-foot (9,300 m2) building housed 500+ employees.[4]
In November 1998, WMA was fined $100,000 "for not properly supervising its sales agents" after their clients lost nearly $2 million in unregistered investments.[5] In 2000, WMA was fined $125,000 "for failing to report nearly 900 customer complaints".[6]
In June 2001, select assets of WMA were purchased by AEGON and renamed World Financial Group, Inc..[7][8] Alexander Wynaendts, chief executive of AEGON, was quoted saying about WMA that "When we took the company over, we put in place very strict regulatory and compliance procedures"
The main of Mix is its innovativeness. The company was able to innovate healthy products that normally people would not buy into products that would attract and encourage people to buy. Mix was able to make unpopular products to ones that are popular in Hong Kong. A strength for MIX and its branches is its well established values. The values help the company achieve its goal and maintain its stature in the food industry. A strength for the MIX is its high regard for its community wherein the company provides products that ensures that the clients will have good health. This ensures that the company has a good relationship with its environment. Moreover a strength for MIX is its high regard for the safety of the workers. The company has acquired certification for its health and safety practices, this shows that the company uses strategies that have high standards towards the personnel. Lastly a strength of MIX is its website that is informative and attractive. The website provides information about the company and information on products of the company and how such product benefits clients.
MIX main is still lacking advertisements. The company doesn’t use many advertisements that can help it be known to more people from other regions. A weakness of MIX is the limited area that has been reached by the company. The company has a small market; this makes it hard for the company to reach newer clients. The company can only offer its product to those in Hong Kong. This prevents the company from offering products to diverse clients and clients of all ages and gender. It also hampers the chance for the company to show that its products are better than products in other regions.
for MIX is to find out more ways to give a distinctive look and features to their products. The company can continue to make sure that their products are uniquely packaged. The company can create attractive and trendy packages that will attract more market. By doing this the company will have competitive advantage over other firms. An opportunity for the company is to improve the features of their website. The website can be improved by adding online communication systems that will help the company communicate with perspective and regular clients. By doing this it can attract more clients and retailers from various parts of the region. An opportunity for the MIX is to continue to make use of newer technologies that will provide better service to clients. Mix can use the advancements in manufacturing facilities and technologies to make sure that the clients will achieve satisfaction. The company can make use of newer technologies to create the best product possible. An opportunity for the MIX is to continue to reach newer markets where it can offer its products. The company should consider reaching other regions and countries. Lastly an opportunity for MIX is to increase public knowledge about the company and the product it provides. This could be done through the use of internet and other media.
Globalization affected greatly almost all the industries of the world. It brought about the need for change. The changes created a new competitive environment in this industry. Globalization is one of the threats to MIX. Globalization can be a threat to the company because Globalization can produce alternative health products with a better composition. A threat to MIX is the competitors. The competitors will try everything they can to gain a better standing against MIX and its branches. The competitors might discover products that are better than MIX’s product line. MIX needs to be always prepared for the threats brought by other food businesses. The threat to the company includes the laws in the country they are operating in. There may be some future laws that will hinder the creation of products. The laws may be used against some components of their products. There maybe laws that can change the allowed component for the product. Another threat to the company is the tariffs and taxes that the company has in the region. The taxes and tariff constantly change and that may or may not give additional expenses for the company. A threat to MIX is the environmental issues that might be raised by certain groups. The environmental concerns on the creation of food products can be used as propaganda against the company. Lastly a threat to the company is the global financial crisis. The financial crisis may not be felt by Hong Kong right now but after some time its effects will be felt by Hong Kong and business in that region. The global financial crisis will reduce the client of MIX and might force it to close some of its branches. The company needs to be prepared for this crisis and its probable effects.
World Marketing Alliance introduced the Business Format System (BFS) in 1992, a blueprint to help its associates build and run their business.[4] MD TV, the company's private satellite television network, was also introduced. During this period, the company expanded its operations to Canada, Taiwan, Mexico, Puerto Rico, Guam and the Philippines.[4] The company held its first convention in Las Vegas in 1992. It was attended by about 2,000 associates.[4]
On March 23, 1998, WMA Executive World Headquarters opened in Duluth, Georgia. The 100,000-square-foot (9,300 m2) building housed 500+ employees.[4]
In November 1998, WMA was fined $100,000 "for not properly supervising its sales agents" after their clients lost nearly $2 million in unregistered investments.[5] In 2000, WMA was fined $125,000 "for failing to report nearly 900 customer complaints".[6]
In June 2001, select assets of WMA were purchased by AEGON and renamed World Financial Group, Inc..[7][8] Alexander Wynaendts, chief executive of AEGON, was quoted saying about WMA that "When we took the company over, we put in place very strict regulatory and compliance procedures"
The main of Mix is its innovativeness. The company was able to innovate healthy products that normally people would not buy into products that would attract and encourage people to buy. Mix was able to make unpopular products to ones that are popular in Hong Kong. A strength for MIX and its branches is its well established values. The values help the company achieve its goal and maintain its stature in the food industry. A strength for the MIX is its high regard for its community wherein the company provides products that ensures that the clients will have good health. This ensures that the company has a good relationship with its environment. Moreover a strength for MIX is its high regard for the safety of the workers. The company has acquired certification for its health and safety practices, this shows that the company uses strategies that have high standards towards the personnel. Lastly a strength of MIX is its website that is informative and attractive. The website provides information about the company and information on products of the company and how such product benefits clients.
MIX main is still lacking advertisements. The company doesn’t use many advertisements that can help it be known to more people from other regions. A weakness of MIX is the limited area that has been reached by the company. The company has a small market; this makes it hard for the company to reach newer clients. The company can only offer its product to those in Hong Kong. This prevents the company from offering products to diverse clients and clients of all ages and gender. It also hampers the chance for the company to show that its products are better than products in other regions.
for MIX is to find out more ways to give a distinctive look and features to their products. The company can continue to make sure that their products are uniquely packaged. The company can create attractive and trendy packages that will attract more market. By doing this the company will have competitive advantage over other firms. An opportunity for the company is to improve the features of their website. The website can be improved by adding online communication systems that will help the company communicate with perspective and regular clients. By doing this it can attract more clients and retailers from various parts of the region. An opportunity for the MIX is to continue to make use of newer technologies that will provide better service to clients. Mix can use the advancements in manufacturing facilities and technologies to make sure that the clients will achieve satisfaction. The company can make use of newer technologies to create the best product possible. An opportunity for the MIX is to continue to reach newer markets where it can offer its products. The company should consider reaching other regions and countries. Lastly an opportunity for MIX is to increase public knowledge about the company and the product it provides. This could be done through the use of internet and other media.
Globalization affected greatly almost all the industries of the world. It brought about the need for change. The changes created a new competitive environment in this industry. Globalization is one of the threats to MIX. Globalization can be a threat to the company because Globalization can produce alternative health products with a better composition. A threat to MIX is the competitors. The competitors will try everything they can to gain a better standing against MIX and its branches. The competitors might discover products that are better than MIX’s product line. MIX needs to be always prepared for the threats brought by other food businesses. The threat to the company includes the laws in the country they are operating in. There may be some future laws that will hinder the creation of products. The laws may be used against some components of their products. There maybe laws that can change the allowed component for the product. Another threat to the company is the tariffs and taxes that the company has in the region. The taxes and tariff constantly change and that may or may not give additional expenses for the company. A threat to MIX is the environmental issues that might be raised by certain groups. The environmental concerns on the creation of food products can be used as propaganda against the company. Lastly a threat to the company is the global financial crisis. The financial crisis may not be felt by Hong Kong right now but after some time its effects will be felt by Hong Kong and business in that region. The global financial crisis will reduce the client of MIX and might force it to close some of its branches. The company needs to be prepared for this crisis and its probable effects.