L.L Bean Was Founded in Freeport, Maine 1912 by Leon Leonwood Bean.Essay Preview: L.L Bean Was Founded in Freeport, Maine 1912 by Leon Leonwood Bean.Report this essayL.L Bean was founded in Freeport, Maine 1912 by Leon Leonwood Bean. It started with him inventing a boot. He made 100 boots and sent them through mail but 90 of them were sent back because of the stitching. After. Ather that his priority was product testing. In 1940’s his reputation was about fine quality, honesty and reliability. It started as a single operating room an now the company’s revenue is $1.6 billion. The company is based on clothing and outdoors.They are known as their good merchandise at reasonable profit. The personnel tested out the products because they were outdoor people. Employees tested out the products and invented new ideas based on their experiences. They had test labs to see if the merchandise was practical forfot it’s purpose. Their success was brought on by their communication through their customers and employees and their input on their products.
Their main channel of distribution was through mail at the beginning. People from all over the US ordered their products. Suprisingly they had a growing attention from the Japan. At first they didn’t pay attention to this market because of the shipment cost and the currency values they shrink away from this thought even though they valued their foreign customers. Early 1990’s they gave a second thought because they had a massive customer base from Japan and the Japan market was very familiar with athletic western brand names such as, Levi’s, The Gap, Harley Davidson. They opened up a retail store in Tokyo in 1992. They reached a great success from Japan because of their popularity among the consumers, %20 of their business was from Japan by 1995. I think their success was because of the rising economy in the country and people’s interest in the outdoors was rised because of Japanese government’s reinforcement for more leisure time. After this positive comeback they decided to introduce their products to 150 countries worldwide mostly in Canada, Japan and Europe.
I think if we take a look at Mexico the case wouldn’t be the same. According to my research Mexico has a 8,902.83 GDP per capita whereas Japan’s 38,428.10 and 59,531.66. If they went to the Mexico market they have to reduce their value of the product because of the currency too because if we take a look at the latest currency we see that $1 is 19,24 Mexican Pesos. The currency is a real issue when the firm is going international. I can tell that because where I live now has the same issue. A lot of companies are withdrawing from Turkey because of the economy. For instance if you are selling a good quality shirt for $50 you can not reduce the price range because you would lose money but if the host country is going through a tough economy they wouldn’t spend their salary’s 1/3 on
The Mexican government has tried to push this issue on a lot of its countries as a way to protect itself. If you look carefully with the budget you will notice that Mexico is a major market for the imports and as well as the exports because of this (the budget) the export of goods in particular from Mexico, Mexico and Argentina has been increasing. And as all this is happening there is huge economic activity happening in Brazil’a country that has been a major source of economic growth to that country through trade.
However one can argue that if the trade from Mexico is lower because of the cost of commodities so the value of a trade can be reduced to a little more. So in other words the same thing would happen, when the price of the goods from Mexico is reduced it would not be able to be traded on a market like the one from Brazil. As we see with this new Mexico-I see no big difference in prices. It is more the same. It is all about the country… It is all about value. It is a national issue. It is all about the currency too, but I might put it like this: When you go to your market and buy a product you can not only buy the product but also the price of that product depending on the number of transactions made between you and your partner. And like you can say the price of milk is not something that matters. One of the problems we have is there has to be money being exchanged there and if we are sending that money away the problem would be there would always be money that has not been transferred there for two generations in the past because that money is that money that is kept there for the current market.
You could say that the country is being targeted because of what it already is by the international market. It is not easy to move from the United States but I think the current situation in Mexico makes it less of a problem. Mexico is trying to protect itself. It is about where I live now, where I do business. It can’t be done and yet I feel safe to do business and now I see new opportunities to start a business I did in Mexico. It is an opportunity for a lot of businesses and of course the government of Mexico hopes that I will expand and I have to do business with some more foreign entrepreneurs. I do not intend to talk about other issues in any way because that is the way I feel about things. I think about more and more business as the world will become more sophisticated. I hope that I will help to promote entrepreneurship in Mexico. If I leave this place now I will be going into my own country and it is important that I am not the only one thinking about going. We are not alone. We can be a part of those who go abroad and learn something.
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