Carpentry: Wood and Tree House

Kayla Allison Markwood H English 12 18 March 2011 Carpentry Working with wood is a skill that has been around since man created his first tool. From carpentry’s beginnings, it has developed enormously, but in its essence, the tools and techniques our modern carpenters use today are the same as those used in the Stone Age. The Bureau of Labor Statistics defines carpenters as â€Å"people who construct, erect, install and repair structures and fixtures made from wood and other materials. This trade has an extensive history, an expansive modern field, and with it, I plan to build a tree house, thus making a difference in a kid’s life. The term â€Å"carpentry† comes from the Late Latin term â€Å"carpentum† which means two-wheeled vehicle. The woodworkers of the Roman Empire built the chariots that allowed the fast travel. They also built the foundation for early highways, between which concrete cement was laid. The innovative ideas of these workers allowed for the Romans to conquer and build such a vast empire.The woodworkers were thus named carpenters. Carpentry began many years ago and emerged from nations all over the world. Early Europeans created long, wooden homes from planks of wood that measured up to one hundred feet. A Stone Age city from nine thousand years ago created their buildings from mud bricks, supported by posts and beams. The remnants of these buildings have allowed modern scholars to study the way carpentry has evolved over years and across the different cultures of the nations. The first known city’s population, who lived until at least 5600 B. C. lived in a unified series of structures that all linked together like a giant fort; they had heavy support beams in the walls and for a roof, smaller beams, reeds and packed mud. About thirty-seven centuries ago, on the island of Crete, in the middle of the Mediterranean Sea, the natives used wooden columns with a downward taper (opposite of those later made popu lar by the Greeks) and stone and mud-brick walls to construct the Palace of Knossos, home of the labyrinth housing the fabled Minotaur. One very notable accomplishment was the early Egyptians of four thousand B. C. who were already using copper and metal tools for woodworking.These people were proficient in some of the modern techniques we use now, such as drilling, dovetailing, which is a tight interlocking joint made by using a fan-shaped tenon fitted into a corresponding mortise, mitering, which is creating a diagonal seam at a corner in order to make a right angle, and mortising, or cutting square or rectangular holes, into the lumber. In the twelfth century, carpenter guilds began to form. There were three kinds of member in the guild: masters, journeymen and apprentices. The master carpenter would have a lot of experience and had the ability to take in an apprentice to whom he could pass on his knowledge.The apprentice would live with the master, train with him and would recei ve food, clothing, shelter and the master’s wisdom in lieu of a paycheck. After a long enough period of time, anywhere between five and nine years, the apprentice could continue on and become a journeyman. He could then work for payment, start his own shop, and after gaining enough experience would take on an apprentice himself and would thus become a â€Å"master. † The carpenter’s guilds were the beginning roots that would eventually grow into our modern labor unions and associations.The first Carpenter unions began in 1724 which helped regulate hours and pay for workers and allow for benefits and assistance for the unemployed member workers. After the first Industrial Revolution, a few modifications were made to the basic carpentry tools for greater efficiency, but they retained many of the same characteristics from the original design, most of which we still use today. Axes, hatchets and other thick blades were common for chopping wood, just as it is now. Ch isels, which are tools with a sharp beveled edge, originated back then, as did the gouge, which is a chisel with a concavo-convex cross-section.Different kinds of saws were originated for different purposes and mallets, which are small, rubber hammers, and large metal hammers were also just as popular in the Middle Ages as they are now. In every modern carpenter’s garage or personal workshop, there are a few tools that are necessary for almost every project, whether it be large or small. The first one of these is the power circular saw. This is a power-driven saw in which a circular disc with a toothed edge that rotates at a high speed. It is particularly useful when used to cut across grains of wood on large or thick planks of wood.Another important tool to have is the nail gun. It uses compressed air to drive the nails into the wood. This saves both on work time and on energy levels, but as long as there is a basic hammer, it will do the trick. The power drill is of vital i mportance. Also called a pneumatic drill, it drills holes through the wood and attaches or detaches screws. Another necessity is the router, which is used to create hollowed areas in wood. It has a shaped cutter and can cut grooves into the wood. Another basic, but necessary, carpentry tool is the level. This is a device that helps the carpenter ensure the final project has straight edges.The old fashioned levels had two to four foot bars with a glass tube with a line on it in it. The newer levels, which are much more accurate, improved and user-friendly, are digital. Every house needs a tape measure, even for non-carpentry uses, but it is very important in a carpenter’s toolbox to have a tape measure so he or she can measure everything out accurately. The last vital thing to have in your toolbox is a framing square. Framing squares are steel L-shaped squares that are very simple, but very important as it helps you lay out accurate right angles.Modern carpenters build all dif ferent things and use various materials, but true to their profession work primarily work with wood. There are a few popular kinds of woods often used by carpenters; three of these include ash, pine, and oak. Ash is usually found in northern latitudes. The color is greenish white when it’s young, but after it has matured, the older trees have turned into a dark, beautifully marked timber. Pine is a blanket term for all trees that bear cones, but it can be broadly distinguished into Red/Yellow (both of which are indifferently used) or White.The first kind has a ground color of yellow with pale red markings across it, whereas the other kind is a whitish color, hence the given names. Oak is another commonly used wood among carpenters. The best place to find Oak is in America and Great Britain. The grain of the wood considerably open, or porous, however it is extremely hard and durable. This makes it difficult to work and can dull a worker’s tools very easily, but because of its durability, it makes for ideal medium to work with for building houses, floors, staircases, doors, wall panels, tables, chairs, sideboards, and other pieces of furniture.It is dark in color and can be polished to a high sheen. The same basic steps are almost always used when getting ready before starting a job by all carpenters for the most part. They start by designing, if it is necessary to, and laying out their project; this includes all of the measuring, marking and arranging of the materials that needs to be done. After that, the carpenter will then cut and shape all of the materials, using a combination of his or her hand and power tools. The next step is to join the items together. This can be done by nails, staples or glue.To increase the accuracy in the final project, it is necessary to implement the tape measure and framing square through the entire process. Many carpenters do different carpentry tasks, but a lot of them specialize in one or two tasks. Those who rem odel homes for instance, use a wide variety of skills. They will need to know how to do everything from building countertops to window frames. Others market themselves as experts in their specific fields, such as cabinet installation or moldings. Working as a carpenter can be stressful physically and mentally.The physical demands can involve standing for a long time, climbing, bending, kneeling and more. There is always a risk of getting hurt from slipping or falling from the roof or off a ladder or one could get seriously injured from working with the dangerous tools. As far as mentally, carpenters will usually work under independent contracts and with these can come a strict deadline. They usually average about 40 hours per week, which can also be stressful on the mind and body. About thirty-two percent of carpenters are self-employed. According to CollegeBoard, the average income of self-employed carpenters is $43,640.In this economy, self-employment can be hit or miss, but my go od friends Paul and Samuel Jobe, who own Jobe’s Carpentry, and have inspired me with their successful business and have helped in increasing my interest in the trade. I was influenced into studying carpentry for my senior project for a variety of reasons. I love taking things apart to rebuild them and learning how things work. This trait is a testimony to my manual dexterity and the way my mind thinks mechanically. I think carpentry would be a creative and interesting way for me to express these skills and something I would enjoy.Another incentive that has drawn my interest has been that I really think it would be interesting to study the trade Jesus practiced, as part of my own walk of faith in an attempt to grow closer with Him. I wanted my project to affect more than my own life; I want to make a difference for someone, so I decided to rebuild a tree house that belongs to my 9 year old friend, Sam Ritner. The Ritners have had the tree house for longer than I’ve know n them. They had it for their older sons who have long outgrown it. It is now falling part to the point that it is barely recognizable for what it truly is. I know that by rebuilding it, I will not only enjoy the work and the experience, but it will create a fun and exciting place for Sam and his friends to hang out which is fulfillment in itself. Making that sort of impact on a child’s life would mean the world to me. To begin, I’ll first go out to the tree house and evaluate the damage. Right now, it does not have a roof or walls anymore. I will then clear out all the ivy and debris that’s grown up around it and take the measurements needed for the final project.As I previously mentioned, my friend, Samuel Jobe, is a carpenter and he has agreed to help me out through the design process and aid me in picking out the materials I need to complete it. This includes the measuring, marking and arranging the materials. After drawing up the blueprints for the tree hou se and taking a trip to the hardware store for all of our supplies, we’ll begin the actual construction on the tree house. First, I’ll stabilize the floor with crossbeams. The tree house currently has only one crossbeam still supporting the floor. I plan on installing at least two or three crossbeams in order to add more support to the floor.Then, I’ll remake the ladder. The ladder currently is missing a step and is very unstable. I plan on making the ladder by putting two pieces of wood on either side, and putting at least three or four smaller pieces for steps in the middle. Next, I’ll construct the framework and the support system of the house. As of right now, there is no framework on the tree house; there is only a platform. I will pre-fabricate the frame on the ground so I don’t need to try to construct it in the air. I plan on using brackets to screw the uprights of the frame to the floor.Then, I will erect the walls. At least one of the wal ls will have a window built in. I will use plywood for the walls and cover them in stucco or another type of siding. Then, I will make the roof. It will be a pitched roof, so rain water will easily roll off the top. To waterproof it and protect it from water, I will attach felt over a thin plywood base and then cover it with shingles. Also with applying these materials, we will add a waterproof stain as the first primer coat to the wood. Afterwards, I will put in the door and install the shutters of the windows.The window will be a rectangular window and will have a cross in the middle with shutters extending to the outsides of the window. Finally, I will put an outdoor stain on the wood as paint. It will be a dark brown color and will go over the waterproof stain that had been previously coated. The shutters will be painted dark forest green to add to the ambiance of the tree house. This will be sure to make the tree house as waterproof as possible, while also adding style and maki ng it stand out. While building the tree house, I will photograph the process. This will include the before and after shots as well as pictures of it being constructed.The action shots will include me sawing the wood, drilling, and painting along with other challenging tasks. I will compile all of the pictures and create a scrapbook to bring in for my presentation to the judges. Carpentry is an interesting subject that has been practiced for thousands and thousands of years, since man created tools. To be using a craft that has been such an influence on the development of civilization and to be using it for to brighten a kid’s day makes the effort behind it so worthwhile. This project means a lot to me and I am proud to present it as my final project of high school.

Apple Inc: Analysis of Financial Statement Essay

I chose Apple for my course project mainly based on the fact that they release all their records to the public and they have excellent accounting practices. Their paper work is easy to read and follow and based on their records they have an endless amount of revenue in the billions. As we have discussed about Apple in class I was very intrigued how they looked in the books on a specific level of detail and this course project was the perfect way to take initiative to find out just how their numbers actually add up answering the following questions. 1. What amount of deferred tax assets or deferred tax liabilities are on the two most recent years on the balance sheet? What gives rise to these deferred taxes? What information is disclosed in the footnotes related to deferred taxes? Please define a deferred tax asset and deferred tax liability. At year end September 24 2011 the balance sheet shows following amount of deferred tax assets and liabilities: Deferred tax asset is arising due to deductible temporary differences, tax losses, and tax credits of $3.2Billion and deferred tax liabilities of $9.2Billion. Deferred revenue is recorded when the company receives payments of their products in advance or for the performance of services. It includes amount for unspecified and specified software upgrade rights and non-software services that are attached to the products of the company. It is disclosed in the footnotes that Deferred tax assets and liabilities shows the effects of tax losses, credits, and the future income tax effects of temporary differences between the consolidated financial statement carrying amounts of current assets and liabilities and their respective tax bases and are measured using en-acted tax rates that apply to their taxable income in the years in which these temporary differences are expected to be recovered or settled. Footnotes also states that company records a valuation allowance in order to reduce the def erred tax asset to the amount it thinks cannot be realized. Deferred tax asset: Deferred tax asset is defined as reduction in company’s future taxes as the company has already paid for these taxes in past. It is like a prepaid tax. It is used to reduce later period’s income taxes. Deferred tax liability: Deferred tax liability is defined as liability that the company owes but they don’t have to pay it in the current time but will be due in some future time. This often results due to difference in tax regulations and accounting practices. 2. What temporary and permanent differences does the company disclose in its footnotes? What are some other examples of temporary and permanent differences? Operating loss to carry forward /carry forward: The company had unrecognized tax benefits of 1.4 billion Guidelines for carry forwards and carrybacks: Tax law allows corporation to carry forward loss up to 20 years and they can carryback tax losses only up to 2 years. A carry forward can be used to reduce future income and in the end reducing future tax payments. 4. Does the company have a defined benefit or defined contribution plan? What are the key elements of the plan discussed in the footnotes? What amounts on the balance sheet relate to this plan? What are the differences between defined benefit and defined contribution plans? Employee contribution plan: The key element discuss in the footnotes is the rate to which the contribution is made and matching of contribution by company itself. The Company’s matching contributions to the Savings Plan were $90 million, $72 million and $59 million in 2011, 2010 and 2009, respectively. Difference between Benefit and contribution plan: In contribution the employer put certain fixed percentage of employees to the fund and invest it no loss or gain is recognized because its liability is of contributing that amount only. However in benefit plan the company promised to pay certain amount to employees due to which it has to recognize gain or losses and liability. 5. What are the earnings-per-share amounts disclosed on the income statement for the most recent year? What dilutive securities are discussed in the footnotes? Please identify and describe other examples of dilutive securities. How do these impact earnings per share? Diluted EPS: Effect on EPS of Dilutive: Dilutive EPS is calculated due to the Debt securities company issued to which company offers for conversion from debt security to Company shares. If converted, the denominator will increase and hence EPS will decrease. Other types of dilutive shares: The other types of diluted shares are warrants and share option. Bonus shares may also dilute EPS. 6. What kind of share-based compensation does the company have? What was the compensation expense for the two most recent years? What are the key elements of this plan discussed in the footnotes? Please identify and describe other types of share-based compensation. Share based Payments The Company has two kind of share based compensation one is that the company receives employees’ service in exchange of equity instrument, or of recognizing liabilities that are based on the fair value of the company stock or may be settled through issuance. The elements: The key element in the foot note is the difference between restricted stock Unit and stock option plan. In RSU’s the compensation cost is measured by closing fair value of stock at grant date. However in stock option the valuation at grant date is done through Black-Scholes-Merton (â€Å"BSM†) option-pricing model. Other types of compensation: The other types of compensation is that employees to whom compensation is paid is left with the choice whether to take cash settled i.e. by incurring liabilities or by equity settlements. 7. Does the company use the direct or indirect cash flow presentation method? What is the difference between these two methods? How does the cash flow statement agree to the other financial statements? APPLE INC. uses indirect method of cash flow. The main difference in direct and indirect method is of operating activities section. In direct method of cash flow there is a sum of all check and deposits in a particular category whereas in indirect method of cash flow we have to make adjustments in order to arrive at net cash flow from operating activities. Net cash balance calculated in the cash flow statement agrees with cash balance in the balance sheet. 8. What investing and financing activities does the company have? What are some other examples of investing and financing activities? Company has following investing activities: Purchases of marketable securities, Proceeds from maturities of marketable securities, Proceeds from sales of marketable securities, Payments made in connection with business acquisitions, net of cash acquired Payments for acquisition of property, plant and equipment and Payments for acquisition of intangible assets. Other examples of investing activities are purchase/sale of long term investments and purchase/sale of debt or equity securities of other companies. Financing activities of company: Proceeds from issuance of common stock, Excess tax benefits from equity awards and Taxes paid related to net share settlement of equity awards. Other examples of financing activities are sale of equity securities, issuance of bonds and notes, dividend paid and redeem long term debt. 9. What non-cash transactions does the company have on its cash flow statement? What are some other examples of non-cash transactions? Following are the non cash transactions of the company on its cash flow statement: $(000) Depreciation, amortization and accretion 1,814 Share-based compensation expense 1,168 Deferred income tax expense 2,868 Other non cash-transaction examples are provisions, unrealized foreign currency gains/losses and minority interests. Conclusion: This course project shows evidence in Apple’s strict guidelines and how they run their business. Comparing the numbers they have posted on their site I’m able to physically see how certain liabilities and Assets are moved and balanced in different quarters throughout the year. Seeing this also allows me to understand on how they operate in a bigger scale from a bird’s eye view. Since they are such a large company they do not hesitate to report all their taxes and pay the full amount without using shortcuts that most smaller companies are able to get away with. Based on the report from 2011 and 2010 Apple prioritizes their tax expenses with alacrity and with their triple checked system it truly leaves no room for error in their accounting department. By looking into their books, I can conclude that this company is in strong standing and that they will be around for a long time maybe for another 100 years. Most companies don’t have that kind of net value since they fall into category of accrued debt paying off an impossible bill of benefits to their employees. Works Cited: http://investor.apple.com/secfiling.cfm?filingID=1193125-11-282113&CIK=320193 http://investing.money.msn.com/investments/stock-balance-sheet?symbol=AAPL& http://finapps.forbes.com/finapps/jsp/finance/compinfo/IncomeStatement.jsp?tkr=aapl&period=qtr http://finapps.forbes.com/finapps/jsp/finance/compinfo/Ratios.jsp?tkr=aapl

Pets.com Case Analysis Essay

INTRODUCTION In this report I will analyse Pets.com’s short lived success as America’s number one online supplier of pet foods supplies and accessories. I will also identify what actually went wrong and present a refreshed offensive marketing strategy to the board of the company. It was unbelievable how a public listed company led by some of the world’s best business executives, draped by all the funds that any company in the world would envy, partnered with the world’s number one e-commerce company and became America’s pet industry icon can lose everything in less than two years after its first introduction. In my opinion some of the major factors that contributed to Pets.com failure were: 1. Bad strategic decisions made by the previous leadership including underestimating the cost of operations and overspending on marketing. The management was so obsessed grabbing the market share but at the same time losing their focus altogether on their actual goal and objectives, which is generating revenue for the company and become profitable to ensure sustainability. 2. Despite its success in building brand recognition, Pets.com overestimated the market trend and power of the internet. They were also overconfident in estimating the market real potential and risk due very shallow and weak market research. When everyone was rushing to jump onto the internet e-commerce guaranteed-for-success bandwagon, Pets.com did not realize pet business was not that simple but in fact more complicated compared to selling books and clothes online. After all the costly marketing promotions and advertisements, overnight popularity, having the most complete online product offerings and latest technology at their disposal, still in the end Pets.com failed to show much added value and differentiators in the eyes of the customers. 3. Completely ignored the power of traditional brick and mortar business model. Pets.com failed to understand their rivals strengths and weaknesses well. Better customer care, satisfying personal shopping experience and fast  delivery are some of the advantages physical stores had over online pet portals. Pet owners appreciation of these traditional values affected typical pet-owners’ readiness and willingness to completely abandon their friendly and trusted around-the-corner neighbourhood pet store. COMPETITOR ANALYSIS The previous company did not bring up a good proposal in opposing its competitors. It was so obvious that they ignored the fact that traditional pet store was very much controlling the pet food and supplies market. Underestimating the strengths and advantage of their more traditional brickand-mortar based rivals like Petstore, Petsmart and Petopia was the first biggest mistake they had done. Competitor Analysis  Petopia.com 1. Heavily funded by Petco, market leader in pets accessories and supplies industry 2. Well established physical stores plus e-commerce business model 3. Leverage on Petco’s good and well known reputation as supplier of quality pet products and its commitment to animal care. 4. Petopia will gain invaluable access to Petco’s extensive network of chain stores which both companies can cross-promote each other: a. Have nationwide coverage with 465 chain stores all over US b. Strong international presence with 100 stores globally 5. Potential Pes.com future international expansion thru strategic alliance with another major investor Groupe Arnault (linked to renowned LVHM Moet Henessey Loius Vuitton) PetSmart.com 1. Already a successful brick and mortar business on its own right. Considered as Petco’s main brick and mortar competitor 2. Joint venture with e-commerce entrepreneur Bill Gross of Idealab become direct competition to Pets.com-Amazon’s team up. 3. Well established physical stores plus e-commerce business model 4. Strong back-end warehouse and delivery systems with already 500 stores nationwide and 100 outside US. 5. Strong brand name, marketing clout, close vendor relationships and  efficient product portfolios and fulfilment systems that would greatly benefit their online business. Petstore.com 1. Funded by venture capital firm Battery Ventures 2. Rely entirely on the power of e-commerce. Work on the same business model as Pets.com, establish a leadership position with ‘category killer’ domain name 3. Just like Pets.com, Petstore relied heavily on advertising and promotions 4. No physical store establishment At the end of the day, after the big dotcom bubble burst, only Petopia (now owned by Petco) and PetSmart survived. Petstore and Pets.com itself succumbed to the dotcom bubble burst. Two most obvious factors that set apart the two victors and losers are: 1. PetSmart and Petopia had a strong back-end warehouse backing and chains of physical stores that in the end reduce distribution costs, storage, ensure satisfactory delivery period and value-add traditional shopping experience and satisfaction. Unlike the two, Pets.com and Petstore.com relied entirely on the internet of which later compromised basic pet owners’ needs and customer satisfaction. 2. Pets.com and Petstore relied heavily on funding from venture capital firms while Petopia and PetrSmart already have strong infrastructures and customer network they can always depend on if anything goes wrong over the internet. This proves deadly when Pets.com failed to gain enough added capital injection to save them from becoming dotcom bubble’s biggest casualty. It is very important for us to re-align our goal and strategically repositions ourselves in this industry. The following SWOT analysis shall analyses our key strengths and weaknesses. Pets.com’s SWOT Analysis STRENGTH 1. Huge cash to spend. Heavily funded. Backed by Amazon.com. 2. Direct access to Amazon.com’s network resources and e-commerce skills and expertise, so technology skills and know-how is not an issue. 3. Strategic alliance with Yahoo!, GO.com (Disney), Discovery TV network (Animal Planet) and association with the American Veterinar Medical Foundation can be a very strong network positioning strategy. 4. Pets.com is the most recognizable domain name, highly visible website with most comprehensive website content and best design. Pets.com website is so popular in the internet and mainstream media that at one time becomes the most visited pet supplies website in the world. 5. Most competitive price and service offerings (plus free delivery). Able to offer quality products of which becoming today’s key plus factor to the passionate middle-class and high income pet owners. 6. Largest stock keeping units (SKUs) in America to ensure reliable supply and on time delivery to customers. WEAKNESS 1. Competitors offer similar products. Pets.com still could not find key market differentiator. 2. Huge expectation on online marketing and promotion. Specialized team to maintain up-todate and latest website content and information may incur increasing administration costs. 3. Pets.com have weak brand name as compared to more established rivals. 4. Pets.com don’t have physical stores presence nationwide and globally. 5. Reliability and security on the internet can halt and even destroy online business almost overnight. 6. High transportation costs and insurance liability due to free delivery policy to customers regardless location 7. Geographical factors, warehouse location and distance may result to 2-3 days for orders to reach American homes OPPORTUNITIES 1. Pets.com can leverage further on Amazon’s full potential-market penetration and trustworthy e-commerce reputation 2. Can take full advantage on average American pet owners passion and spending habits on pet food and supplies 3. The right time to tap into the world’s fast growing and lucrative national and international markets. 4. Can take advantage on the fact that most trusted and high quality pet foods are produced in the US 5. Can take advantage on average American pet owners’ hectic lifestyle. Promote cost and time saving. 6. Average American pet owners are economically stable. Price is not a big issue. 7. Develop own brand name and proprietary products THREAT 1. There will always be a better competitors’ website content and offerings 2. Don’t underestimate internet capabilities-consider problems at remote sites and countryside 3. Simpler user-friendly blogs, mobile applications and smartphones can replace website 4. Increasing transportation and shipping costs 5. Transportation risk-lost and damage 6. Internet customer bad experience, unfavourable comments and reviews can sabotage any 3  online business that is not ready and fully prepared 7.Growing e-commerce safety concerns can influence internet users to just browse and shop at competitor’s outlet 8. Competitors physical stores at almost US neighbourhoods-providing more human approach (touch and feel) and faster delivery time 9. Hard habit to break-still many pet owners prefer visit local neighbourhood stores than buying online 10. Competition by any brick and mortar neighbourhood establishment Pet supplies are not books. People only order pizzas online-Amazon.com strategy may not work at certain environment and condition. Pets.com need to show better  value-add and pull-factor. SEGMENTATION ANALYSIS Pets.com have the best products to offer and the technology to drive this online business model to success, but in the end not understanding the consumer’s real needs, behaviour and spending habits can prove vital to the company’s survival and relevancy. According to study reports by The NPD Group, Inc. and Media Metrix (NASDAQ: MMXI), 75% of pet owners who access the Internet are aware of online pet stores, up from 55% in September 1999. Twenty-seven percent have shopped at an online pet store, while 14% made an actual purchased at an online pet store. Study confirms that almost three times as many pet owners become aware of online pet stores from television advertising compared to last year, while fewer are learning about sites from surfing the Web. Though television advertising in the category is growing, consumers are still more likely to find out about pet e-tailers from some online source, such as clicking on a banner ad or direct link from another site. The good news for marketers is that while category penetration is still low, customer satisfaction is high. Among the 14% who have purchased, a whopping 97% of them are satisfied with their buying experience. More than two-thirds reported being very satisfied (68%), up from just over one-half in September of 1999 (53%). The majority of consumers who have shopped at pet store sites said they are likely to shop again in the next three months (59%), and half would make a purchase sometime in the future (49%). Not surprisingly, those consumers who are very satisfied with their buying experiences at online pet stores in general are much more likely to make a purchase in the future than those who have not. The Pet Industry In 1998, pet industry is a US53billion a year marketplace. Worldwide estimates run about $51 billion, and growing at a rate of about 15 percent a  year. By the end of 2004, online pet-product sales alone should total more than $4.5 billion. Pet food, accessories and supplies tops US household shopping list with Pets leading with USD23 billion a year, Toys US21billion a year. Music recording US13 billion a year and Retail books at US 12 billion a year. Expert prediction is the pet industry may grow to US28billion a year business by 2001. 1. 60% of American households own at least one pet and 40% own more than one pet. Statistics in 1999 shows 53 million are dogs and 59 million are cats. 2. American families with children age 5-15 likely to own pets and families with children younger than 18 will grow over the next several years 3. Even though online shopping for pet foods and supplies are still new to the consumers, nearly 30% of internet users purchase online pet products. Pet owning households wealthier than average thus able to spend more on pets (65% household earning US60000 or more are pet owners). Almost two-thirds of all American households have at least one pet, and that translates into an estimated $23 billion a year in pet expenditures in the U.S. alone. 4. Veterinary,boarding,grooming,training yielded higher margins. 5. Most pet owners buy on impulse during regular shopping trips and they are less price sensitive 6. US pet owners sought veterinary care at least once a year of which 92% are on dogs and 78% on cats care. Between 1991-1999 US vet expenditure grew 9.5% annually 7. By mid 1990s supermarket pet food began losing market share amid growing concern for pet welfare and nutrition. Non-premium low nutrient levels supermarket brands hold 55% of market share mostly thru grocery and convenience stores. They anyhow demonstrate slow annual growth and small gross margins. Premium levels on the other hand promote healthier diet but risk restricted distribution. From 19940-1999 they contributed to 18% annual growth and own 25% of market share. 8. Supermarkets prefer to stock profitable goods but they face problem with space to store bulks. Pet supply stores on the other hand have the storage advantage. Despite that brick-and-mortar margin still low between 2-4%. 9. Internet and retail commerce trends shows estimated 97 million households are using internet worldwide. By 1998-60% households on internet at least once a day compare 35% year before. Surfing the internet has become part of part of daily American life. In 1998 internet companies in the US generated USD301.4 billion revenues from the internet and internet commerce alone contributed 1/3 of total revenue equals to USD101.9 billion 10. Even though pets product online just started in 1999, survey shows high level of satisfaction among online shoppers. More than half of 30% internet users purchase online pet products, more than half very satisfied. Survey shows: a. 68% are females b. 40% bought toys for pets online c. 30% bought foods/treats d. 26% non-food accessories e. 17% health products 11. The main reasons why they buy online was convenience but experts claim it is limited to small market only and it is also outweighed by higher costs and longer waits. THE MARKETING OFFENSIVE When more than one company offers the same kind of product, each company only receives a percentage of all sales of that kind of product. This percentage is called a â€Å"market share,† and any effort to take some of the market share away from one company and bring it to another is called an offensive marketing plan. Marketing is all about building relationships. It’s about educating (and maybe even entertaining) your customer. While we must not deny the growing influence of the internet, Pets.com must not underestimate the power of traditional pet business model. Alternative strategies that could improve Pets.com: 1. Decrease the advertising and marketing budgets a. This will create opportunity to relocate funds elsewhere such people development and customer care b. Ability to make-up for low sales volume c. Wasting less money on expensive marketing promotions 2. Open warehouses and brick-and-mortar establishments to increase distribution a. Ability to ship products in shorter distances to reduce transportation costs and risks b. Provide faster delivery time may increase competitive advantage c. More readily available products for easier delivery or for exchanges 3. Redo pricing structure for more competitive prices a. Make profits on the product not on the inflated shipping costs b. Pets.com can offer ‘free shipping’ promotions without selling at price below costs c. Consumer’s assurance on Pets.com product quality will keep existing customers and introduce new ones. Customer satisfaction leads to customer loyalty. 4. Invest the use of new media such social networking and blogs. This may attract younger generation of pet owners 5. Introduce subscription and loyalty program. Other than improving customer retention it can also be used qualification tools to offer free delivery or charge based on geographical location and distance. 6. Improve Pets.com brand name. Association with Amazon and Animal Planet may prove very useful in attracting loyal fans. 7. Collaboration with vets and animal clinics promoted as local distributors can reduce delivery time and stock availability. 8. Identify specific target groups. For example individual consumers will more readily use products used by government facilities and pet care professionals. CONCLUSION The failure of Pets.com was not because the online business model. In fact it was more to mismanagement of funds, business planning based only on short term analysis, poor market understanding and research, underestimating  traditional rivals and overestimating the power of internet. It was a classic case of bad strategy. The failure to face the challenge. â€Å"If you fail to identify and analyse the obstacles, you don’t have a strategy. Instead, you have a stretch goal or a budget or a list of things you wish would happen.† Pets.com was an early entry in the immature online shopping industry and was uncertain whether a substantial market niche even existed. No independent market research preceded the launch of Pets.com. Instead, the management chose a â€Å"land grab† strategy focused on increasing its market share then finding ways to make a profit. The â€Å"land grab† strategy presupposes that your market is large enough or will grow fast enough so that revenue allows a profit before seed money runs out. Pets.com wished that it would magically become profitable while it waited for the market to mature. During its first fiscal year (February to September 1999) Pets.com earned revenues of $619,000, yet spent $11.8 million on advertising. It failed to realize its problem would not be gaining market share, but generating revenue to sustain it until it could place adequate resources into market share focused strategies. Mistaking goals for strategy. â€Å"Create the conditions that will make the push effective, to have a strategy worthy of the effort called upon.†Ã‚  When the company did turn its focus to its business model, it created unrealistic conditions in which to operate effectively. For example, Pets.com offered a guaranteed $4.95 shipping to anywhere in the United States. Unfortunately, Pets.com initially only had one distribution warehouse in California and every shipment to the East Coast cost more than $4.95 and therefore shipped at a loss. It lost money on nearly every sale because, even before the cost of advertising, it was selling merchandise for approximately 1/3rd the price it paid to obtain the products. During its second fiscal year the company continued to sell merchandise for approximately 27% less than cost. The company had it sites on being the number one online pet supplier but failed to leverage key strengths to build on other than a very costly push for brand recogn ition. Bad strategic objectives. â€Å"A scrambled mess of things to accomplish—a dog’s dinner of goals. A long list of things to do, often mislabeled as strategies or objectives, is not a strategy†¦Good strategy, in contrast, works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favorable outcomes.† As I researched Pet.com history, I was amazed by the number of â€Å"strategies† the leadership claimed. Not all inclusive, CEO Julie Wainright and executives focused on numerous initiatives in an attempt to stand out from the competition. 1. Strive to offer a huge variety of product offerings; it listed more stock keeping units than any other online pet supplier 2. Offer abundant editorial advice from veterinarians, animal lawyers, breeders, scientists, and pet experts 3. Extend its brand offline in the Pets.com print magazine 4. Develop and offer its own proprietary brand of Pets.com pet supplies 5. Acquire a key competitor, Petstore.com 6. Create alliances to allow Pets.com to offer animal health insurance, be the featured petstore on the Yahoo! link to pet health advice, be a part of the Go.com (Disney) network, and establish charitable foundations. These all seem like good objectives, if focused on one at a time. They also seem like objectives fueled by capital but not sustained by revenues. The management of the company appeared so focused on several objectives that it never developed a solid business model focused on being profitable and generating sustainable returns. Fluff – â€Å"Superficial abstraction†¦designed to mask the absence of thought.† According to analyst Jacques Chevron, â€Å"Pets.com failed to give its prospective customers a reason for its existence. Its tongue-in-cheek advertising claim (â€Å"Because pets don’t drive†) seemed like an  admission of its lack of a reason for being.† Pets.com seemed focused on being the most comprehensive site for pet owners that it failed to be  successful in any of its objectives. While it continued to claim it was the one-stop site for all pet needs, it never established a reputation as being good at anything other than advertising. Bibliography 1. Pets.com: Rise and Decline of a Pet Supply Retailer by Dr Omar Merlo 2. The Rise and Fall of Pets.com: †Because Pets Can’t Buy† by Cara L.O Peters (University of Georgia) and Marilyn J. Okleshen (Minnesota State University) 3. Pets.com failure and its causes http://my-espace09.blogspot.com/2009/01/petscom-failureand-its-causes.html 4. Pet & Pet Supplies Stores Industry Statistics Research Report – Anything Research 2010. 5. US Pet Market Outlook – Packaged Facts 2009.

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