netrashetty
Netra Shetty
Baker Hughes NYSE: BHI is the world's largest oilfield services company, infront of Schlumberger and Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion, production and reservoir consulting. Baker Hughes operates in over 90 countries worldwide mainly based in countries with a mature petroleum industry as is the case with most oil & gas service companies. Baker Hughes has its headquarters in the America Tower in the American General Center in Neartown, Houston.[3][4]
Baker Hughes Incorporated was formed when Baker International and Hughes Tool Company merged in 1987. Baker Hughes operates worldwide with major offices in Liverpool, United Kingdom, Singapore, Dubai, Research & Maintenance Facility in Celle, Germany, Lafayette, Louisiana, Houston, Texas Pescara, Italy, Kuala Lumpur, and Malaysia. The company is administered broadly in two Hemispheres; Eastern Hemisphere with five Regions (Europe, Africa, Middle East, Asia Pacific & Russia/Caspian) and Western Hemisphere with four Regions (Canada, US Land, US Gulf & Latin America); each of these Regions is subdivided into Geo Markets.
Home Marketing Research News Latest Market Research Findings Dairy Commodities Outlook: March-October 2011
Dairy Commodities Outlook: March-October 2011
Written by Euromonitor International
The latest data released by the European Commission suggests a moderate recovery in raw milk prices after a disappointing 2009.
Further increases over the March-October 2011 period seem likely on the back of stronger demand for milk powder, which is used as an ingredient in a wide range of processed food categories.
Larger EU milk deliveries on the back of higher prices
According to the European Commission's latest quarterly report on the dairy market (December 2010), farmgate prices paid to milk producers have now recovered from the record low levels seen in spring 2009, with the latest EU weighted average raw milk price (32.5 c/kg for September 2010) now higher than any monthly average price seen between 2003 and 2006.
EU milk production has increased on the back of stronger demand during the January-September 2010 period and was around 1% higher than compared to the same period in 2009.
The latest data released by Eurostat in February 2011 shows an increase of 1.4% in milk deliveries over the January-November 2010 period. This suggests a reversal of the drop seen over the same period in 2009, when milk deliveries declined by 0.3%.
According to the December EU quarterly report, US milk production is steady to slightly higher for most regions of the country with intake above average levels. Milk production was around 1.8% higher in 2010 and is forecast to increase by 1.5% in 2011. The slightly lower growth rate for 2011 is due to growing concerns over the possible effects of higher grain prices.
Meanwhile, Australia's milk production is currently at seasonal peak levels, according to the EU's quarterly report. September 2010 showed a 1.9% decrease in milk production on September 2009 levels.
On a cumulative basis for the first three months of the season (July-September), however, there was no change compared to the same period in 2009.
Lower milk allocation for powder milk production in EU region
Powdered milk is a manufactured dairy product made by evaporating milk to dryness. One purpose of drying milk is to preserve it. Milk powder has a far longer shelf life than liquid milk and does not need to be refrigerated due to its low moisture content.
Another benefit of milk powder is a reduction in bulk to allow for greater economies of transport. Milk powders of various types are used in a wide range of packaged food products, including baked goods, snacks, soups, chocolate confectionery, dairy desserts, ice cream and milk formula.
According to sources from Eurostat and Din Consultants, EU-27 SMP (semi-skimmed powder milk) and WMP (whole milk powder) production declined by 2% and 0.1%, respectively, between January and November 2010.
SMP and WMP production has been hampered by a larger portion of milk deliveries being allocated to unprocessed cheese and liquid milk production, according to European Commission sources.
Milk deliveries allocated to liquid milk increased by 0.7% over the January-November 2010 period. In addition, milk deliveries used for unprocessed cheese production increased by 2% over the same period.
Other than stronger demand for liquid milk and unprocessed cheese, EU manufacturers might have been discouraged from allocating production to SMP and WMP as a reaction to the sharp decline in prices registered by both commodities over the March-August 2010 period. SMP and WMP prices declined by almost 30% during that period, according to dairy information portal globalDairyTrade.
Research suggests that such a decline was partially driven by relatively high stock levels and weak demand for milk powder-intensive products. One key example was ice cream in North America and Western Europe.
Ice cream demand in both regions declined as a result of sustained economic uncertainty, which prompted consumers to cut back on non-essential expenditure on indulgence products.
Retail volume sales of ice cream in Western Europe and North America rose by just 2% and 0.2%, respectively, in 2010. This represents a comparatively weak performance in relation to the growth recorded in 2009, when sales in both regions rose by more than 3%.
Interestingly, lower stock levels and prospects for stronger demand in key categories like chocolate confectionery and snacks – both on the back of the broader economic recovery - have underpinned the recovery of powder milk prices since August 2010.
WMP prices rose from US$3,700/tonne in early January 2011 to US$4,350/tonne in mid-February, according to dairy information portal globalDairyTrade.
This increase has been even more marked in SMP, with prices rising by 30% since mid-December 2010, to reach US$3,900/tonne in mid-February 2011. This increase in prices is in line with predicted demand in SMP-intensive categories like indulgence products.
Global retail volume sales of chocolate, for instance, are projected to grow by 2% in 2011. This will be quite a robust performance when compared with the growth registered the previous year, when retail volume sales remained stagnant.
Other powder format-intensive categories projected to grow at global level in 2011 include dairy desserts (+1% retail volume) and milk formula (+6.2% retail volume). These gains will both be stronger than the corresponding increases seen in 2010 (0.4% and 5.9%, respectively).
A further reason for the growth of powder milk prices is the strong import volumes currently coming from the Middle East and Africa. Algeria, for instance, is tendering for supplies to meet demand until June, which is estimated to be between 10,000-15,000 tonnes of SMP a month.
In Algeria, sales of powder milk as a final product for retail sale are alone predicted to grow by 6% in retail volume, to reach 54,000 tonnes in 2011.
Future direction
NZ WMP (New Zealand whole milk powder) prices, which are typically used as a costing benchmark by international dairy importers, suggest a slight slowdown in the rate of price increases over the next six months. Contract average prices for delivery in April currently stand at US$4,327 per tonne (15 February).
WMP deliveries in May-July are quoting slightly higher prices (US$4,423 per tonne). Interestingly, average prices for deliveries dated August-October 2011 are currently (15 February) 5% lower than contracts dated for May-July delivery. This difference suggests a slowdown in price expectations by traders over the second half of the year.
Price trends for SMP, on the other hand, suggest a moderate slowdown in demand after May. Average prices for deliveries in May-July will stand at US$3,861 per tonne (-1.6% change from the previous year). Futures contracts for August-October are projected to be slightly lower (-3.8% change from the previous year).
Average contract prices for powder formats suggest that current high price levels will prompt an increase in the milk allocation for these products. Stronger supply levels, which are already mounting for SMP, are likely to result in a moderate stabilisation in prices, provided that overall milk supply in key producing areas like New Zealand and EU countries does not decline.
Marketing is increasingly being viewed as an organizational competence. With the increasing importance given to marketing, the need to adapt strategic marketing approaches becomes more imperative. In the filed of fashion retailing, marketing serve an important purpose. Fashion marketing according to Easey (2008) is the application of a range of techniques and a business philosophy that centers upon the customer and potential customer of clothing related products and services in order to meet the long-term goals of the organization.
This thesis studies the Customer Relationship Management by fashion marketers in Hong Kong. CRM started to attract attention in 1990s as an outgrowth of relationship marketing (Stone 2004). CRM is an approach which ultimately aims to manage customer relationships in order to improve customer value, increase profitability and maximize shareholder value (Roberts-Phelps 2001).
CRM traces its history from relationship marketing which became popular in the 1980s. During the 1980s, businesses where experiencing instability in their markets so it became necessary for them to look for ways to make their marketing efforts more effective. Philip Kotler, came up with a strategy for these companies to succeed by managing their relationships with their customers (Payne 2006). Kotler’s approach gave rise to relationship marketing, which focused attention on customers. Businesses started to rebuild their organizational cultures and job functions in order to put customers in the center. As the business environment became more competitive and as customer demands and requirements continue to shift, organizations realized that in order for them to succeed, they must stay close to their customers and build relationships of mutual value. This strategy became important for market oriented companies and also, according to Birtwistle (2004) to Fashion-oriented companies. Like companies in other industries, companies in the fashion industry requires to build close relationships with their customers of they want to succeed. Fashion companies need to gather customer information and from these, forecast future customer trends and align their product and service offerings to these trends.
Baker Hughes Incorporated was formed when Baker International and Hughes Tool Company merged in 1987. Baker Hughes operates worldwide with major offices in Liverpool, United Kingdom, Singapore, Dubai, Research & Maintenance Facility in Celle, Germany, Lafayette, Louisiana, Houston, Texas Pescara, Italy, Kuala Lumpur, and Malaysia. The company is administered broadly in two Hemispheres; Eastern Hemisphere with five Regions (Europe, Africa, Middle East, Asia Pacific & Russia/Caspian) and Western Hemisphere with four Regions (Canada, US Land, US Gulf & Latin America); each of these Regions is subdivided into Geo Markets.
Home Marketing Research News Latest Market Research Findings Dairy Commodities Outlook: March-October 2011
Dairy Commodities Outlook: March-October 2011
Written by Euromonitor International
The latest data released by the European Commission suggests a moderate recovery in raw milk prices after a disappointing 2009.
Further increases over the March-October 2011 period seem likely on the back of stronger demand for milk powder, which is used as an ingredient in a wide range of processed food categories.
Larger EU milk deliveries on the back of higher prices
According to the European Commission's latest quarterly report on the dairy market (December 2010), farmgate prices paid to milk producers have now recovered from the record low levels seen in spring 2009, with the latest EU weighted average raw milk price (32.5 c/kg for September 2010) now higher than any monthly average price seen between 2003 and 2006.
EU milk production has increased on the back of stronger demand during the January-September 2010 period and was around 1% higher than compared to the same period in 2009.
The latest data released by Eurostat in February 2011 shows an increase of 1.4% in milk deliveries over the January-November 2010 period. This suggests a reversal of the drop seen over the same period in 2009, when milk deliveries declined by 0.3%.
According to the December EU quarterly report, US milk production is steady to slightly higher for most regions of the country with intake above average levels. Milk production was around 1.8% higher in 2010 and is forecast to increase by 1.5% in 2011. The slightly lower growth rate for 2011 is due to growing concerns over the possible effects of higher grain prices.
Meanwhile, Australia's milk production is currently at seasonal peak levels, according to the EU's quarterly report. September 2010 showed a 1.9% decrease in milk production on September 2009 levels.
On a cumulative basis for the first three months of the season (July-September), however, there was no change compared to the same period in 2009.
Lower milk allocation for powder milk production in EU region
Powdered milk is a manufactured dairy product made by evaporating milk to dryness. One purpose of drying milk is to preserve it. Milk powder has a far longer shelf life than liquid milk and does not need to be refrigerated due to its low moisture content.
Another benefit of milk powder is a reduction in bulk to allow for greater economies of transport. Milk powders of various types are used in a wide range of packaged food products, including baked goods, snacks, soups, chocolate confectionery, dairy desserts, ice cream and milk formula.
According to sources from Eurostat and Din Consultants, EU-27 SMP (semi-skimmed powder milk) and WMP (whole milk powder) production declined by 2% and 0.1%, respectively, between January and November 2010.
SMP and WMP production has been hampered by a larger portion of milk deliveries being allocated to unprocessed cheese and liquid milk production, according to European Commission sources.
Milk deliveries allocated to liquid milk increased by 0.7% over the January-November 2010 period. In addition, milk deliveries used for unprocessed cheese production increased by 2% over the same period.
Other than stronger demand for liquid milk and unprocessed cheese, EU manufacturers might have been discouraged from allocating production to SMP and WMP as a reaction to the sharp decline in prices registered by both commodities over the March-August 2010 period. SMP and WMP prices declined by almost 30% during that period, according to dairy information portal globalDairyTrade.
Research suggests that such a decline was partially driven by relatively high stock levels and weak demand for milk powder-intensive products. One key example was ice cream in North America and Western Europe.
Ice cream demand in both regions declined as a result of sustained economic uncertainty, which prompted consumers to cut back on non-essential expenditure on indulgence products.
Retail volume sales of ice cream in Western Europe and North America rose by just 2% and 0.2%, respectively, in 2010. This represents a comparatively weak performance in relation to the growth recorded in 2009, when sales in both regions rose by more than 3%.
Interestingly, lower stock levels and prospects for stronger demand in key categories like chocolate confectionery and snacks – both on the back of the broader economic recovery - have underpinned the recovery of powder milk prices since August 2010.
WMP prices rose from US$3,700/tonne in early January 2011 to US$4,350/tonne in mid-February, according to dairy information portal globalDairyTrade.
This increase has been even more marked in SMP, with prices rising by 30% since mid-December 2010, to reach US$3,900/tonne in mid-February 2011. This increase in prices is in line with predicted demand in SMP-intensive categories like indulgence products.
Global retail volume sales of chocolate, for instance, are projected to grow by 2% in 2011. This will be quite a robust performance when compared with the growth registered the previous year, when retail volume sales remained stagnant.
Other powder format-intensive categories projected to grow at global level in 2011 include dairy desserts (+1% retail volume) and milk formula (+6.2% retail volume). These gains will both be stronger than the corresponding increases seen in 2010 (0.4% and 5.9%, respectively).
A further reason for the growth of powder milk prices is the strong import volumes currently coming from the Middle East and Africa. Algeria, for instance, is tendering for supplies to meet demand until June, which is estimated to be between 10,000-15,000 tonnes of SMP a month.
In Algeria, sales of powder milk as a final product for retail sale are alone predicted to grow by 6% in retail volume, to reach 54,000 tonnes in 2011.
Future direction
NZ WMP (New Zealand whole milk powder) prices, which are typically used as a costing benchmark by international dairy importers, suggest a slight slowdown in the rate of price increases over the next six months. Contract average prices for delivery in April currently stand at US$4,327 per tonne (15 February).
WMP deliveries in May-July are quoting slightly higher prices (US$4,423 per tonne). Interestingly, average prices for deliveries dated August-October 2011 are currently (15 February) 5% lower than contracts dated for May-July delivery. This difference suggests a slowdown in price expectations by traders over the second half of the year.
Price trends for SMP, on the other hand, suggest a moderate slowdown in demand after May. Average prices for deliveries in May-July will stand at US$3,861 per tonne (-1.6% change from the previous year). Futures contracts for August-October are projected to be slightly lower (-3.8% change from the previous year).
Average contract prices for powder formats suggest that current high price levels will prompt an increase in the milk allocation for these products. Stronger supply levels, which are already mounting for SMP, are likely to result in a moderate stabilisation in prices, provided that overall milk supply in key producing areas like New Zealand and EU countries does not decline.
Marketing is increasingly being viewed as an organizational competence. With the increasing importance given to marketing, the need to adapt strategic marketing approaches becomes more imperative. In the filed of fashion retailing, marketing serve an important purpose. Fashion marketing according to Easey (2008) is the application of a range of techniques and a business philosophy that centers upon the customer and potential customer of clothing related products and services in order to meet the long-term goals of the organization.
This thesis studies the Customer Relationship Management by fashion marketers in Hong Kong. CRM started to attract attention in 1990s as an outgrowth of relationship marketing (Stone 2004). CRM is an approach which ultimately aims to manage customer relationships in order to improve customer value, increase profitability and maximize shareholder value (Roberts-Phelps 2001).
CRM traces its history from relationship marketing which became popular in the 1980s. During the 1980s, businesses where experiencing instability in their markets so it became necessary for them to look for ways to make their marketing efforts more effective. Philip Kotler, came up with a strategy for these companies to succeed by managing their relationships with their customers (Payne 2006). Kotler’s approach gave rise to relationship marketing, which focused attention on customers. Businesses started to rebuild their organizational cultures and job functions in order to put customers in the center. As the business environment became more competitive and as customer demands and requirements continue to shift, organizations realized that in order for them to succeed, they must stay close to their customers and build relationships of mutual value. This strategy became important for market oriented companies and also, according to Birtwistle (2004) to Fashion-oriented companies. Like companies in other industries, companies in the fashion industry requires to build close relationships with their customers of they want to succeed. Fashion companies need to gather customer information and from these, forecast future customer trends and align their product and service offerings to these trends.