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SHIPWRECKED DECKS (SWD)

Cruise OnBoard

Christopher J. Conery Founder

[email protected]

www.wix.com/shipwreckeddecks/1 (514) 261-6399

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[email protected] www.wix.com/shipwreckeddecks/1

(514) 261-6399

Executive Summary SWD manufactures and distributes custom longboards (elongated skateboard, with large wheels and loose trucks, meant to simulate surfing on tarmac) to customers in the Greater Toronto Area (GTA) and in Montreal; two urban Canadian cities with a high concentration of consumers within the target market. As a provider of extreme sport utilities, we strive for more than a quality product, we strive to integrate our band into extreme sport culture. Our competitive edge is simple; our product becomes more than a longboard, rather a piece of art that enhances the ride and lifestyle. How do we do this? It is our integrated production model labeled TEACH:

· Technical Specifications: customer chooses wood, wheels, trucks. · Explanation: Customer graphically, orally, or textually explains vision. · Art: artwork for grip tape and deck is processed in COREL DRAW by artist · Creation: Outsourced products are processed through Laser Engraver · Help: Customer support; not only for product, but for lifestyle. Website helps customers find: best spots to ʻshredʼ, fresh music, other riders, cultural news/events; and blog.

This gives SWD a competitive edge in three ways: (1) customization, (2) unique deck art and tape designs, and (3) sustained interaction for a lifestyle brand.

To continue, our product, first and foremost, satisfies the thrill-seeking needs of our customers. From their it satisfies transportation, leisurely, athletic/fitness, and specific to SWD, creative, individual, and expressive needs of our clients. Our implementation plan, detailed in this document, requires start-up funds for production capital and supplies, promotion, and administration. Phase one focuses on market penetration; phase two, expansion of distribution channels, and three, increased product lines.

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Table of Contents

Executive Summary 2 1. Mission 4 2. Management Team 5 3. Consumer Profile - Market Segmentation 6 4. Environmental Analysis 8

A. Strengths 8 B. Weaknesses 8 C. Opportunities 9 D. Threats 9

5. Marketing Plan 10 A. Product 10 B. Distribution 11 C. Pricing 13 D. Promotion 13

6. Quantitative Analysis 14 7. Implementation Strategy 14 I. Appendix A-1 16 II. Appendix A-2 17 III. Appendix B-1 18 IV. Appendix B-2 20 V. Appendix C-1 21 VI. Appendix C-2 22 ViI. Appendix D-1 24 VIiI. Appendix D-2 25

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1. Mission Our mission is to customize and distribute longboards to our target market segments and create a network through which the SWD brand be embedded into extreme sport culture. To dedicate ourselves to the SWD standard, SIQ [sik], working towards extended customer service, innovation, and quality product.

We have set three initiatives through which our mission can be accomplished. In order become embedded into extreme sport culture, SWD must maintain a (1) position selling more than a product through added utility in service. There are two measures for achievement; (A) establish TEACH customization method, and (B) implement extended customer loyalty program through ‘HELP’ portal (online customer service feature of TEACH).

The second initiative involves (2) implementing strategic supply infrastructure by: (A) establish industrial supplier and increase buying power, and (B) invest in capital for product customization; acquire laser engraver. This initiative leads towards delivering quality, consistent, and fully customized longboards.

Third, (3) raise awareness and create customer base to begin distribution. To prepare the market for a March 2012 entry date, we will use social medias, Facebook and Twitter to (A) raise pre-season awareness, (B) direct interest towards shipwreckeddecks.com, and (C) conduct ongoing market research for brand development/integration.

Refer to appendix D-1 for more information on the status of each objective.

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2. Management Team Christopher John Conery is the sole-proprietor of SWD; single ownership allows

consistency, fast decision-making, and accountability. Conery is responsible for managing and coordinating different factors of production, marketing, and development, to work towards company objectives.

Christopher John Conery (June 17, 1992) is a young entrepreneur, student, and extreme sport goer. Conery previously founded DogPound (2005), a hot dog stand, Retro-Pops (2006), a candy manufacturer, Sawmill Valley Landscaping (2007), and Knockout Buttons (2009). Currently, Conery is a business undergraduate student in the Desautels Faculty of Management at McGill University. Conery discovered his passion for the extreme sport lifestyle in 2000, when he began mountain biking the biggest mountains in Eastern Canada. His passion for extreme sports, and presence on the mountain led to a snowboarding obsession by the age of twelve. His conformation to board sports, led Conery to skateboarding. Realizing the similarities between longboarding and snowboarding, he quickly abandoned the short-board, for the longboard. His passion for longboarding led to the establishment of SWD in 2011, an idea that was born four years earlier in 2007.

Conery is a dominantly right brain thinker. His intuition, creativity, and view of the big picture allow him to think on his toes, and come up with fresh innovative ways to connect SWD to the extreme lifestyle. He is able to come up with creative solutions to industry, company, and customer problems quickly. Conery is strong at connecting with customers, and corporate partners, which has created a strong network for SWD. He is majoring in marketing and has innovative ideas for promoting his brand. His attention to detail ensures that nothing is overlooked in production and can confidently guarantee his products. Coneryʼs confidence distracts his young age; he is not intimidated by any situation, and looks at them as opportunities. Time-management and organization skills are important for Coneryʼs ability to balance his education, business, extra-curricular activities, and social life.

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3. Consumer Profile - Market Segmentation Three market segments have emerged as key target markets; (1) Grom, (2) Stud, and (3) Curve. The following is a list of characteristics describing the Grom:

• Male, between the ages 12 and 18; he attends high-school. • Lives in urban settings with parents (ex. GTA, Montreal). • Minimal/no income; the ʻGromʼ is the customer, his parents, the consumer. • In the GTA, this segment is estimated to 172 5001, in Montreal, 106 0002.

The Grom’s need is in love/belonging, SWD welcomes the Grom into adolescenthood

and unites him with the Stud (aspiring mentor they long to become). More; it allows them to seek thrill and rebel against parents/society that they have trouble connecting to at their tender age.

The following list describes the characteristics of segment 2, referred to as the Stud: • Male, 19-24 years; enrolled in post-secondary education or has a low-income job. • Living in urban areas, without parents, has little disposable income as consumer. • In the GTA, this segment is estimated at 195 0003; Montreal, 66 6064 (excludes

temporary residents attending McGill University, Concordia, UQAM, etc.; the actual market size is estimated to be over 100 000).

The Stud’s need is unique from that of the Grom (although both satisfy the need for thrill), the Stud’s need is in self-actualization. SWD allows the Stud to express himself through his longboard and provides an activity through which he can ponder morality and spontaneity.

1,3 Statistics Canada, Consensus 2006. www.toronto.ca/invest-in-toronto 2,4 Statistics Canada. Consensus 2006. www.stat.gouv.qc.cam

2 http://www.usatoday.com/sports/2006-06-20-longboarding_x.htm

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Segment 3, titled the Curve, is our female segment between the ages 15-22. We have kept the female market separate from the male and less classified due to their lesser presence in the industry; however, we understand that this segment’s interest in the extreme lifestyle is growing, and that it is important to develop relationships with this market now to gain loyalty in the future. USAtoday says growth rates of females in the longboarding sector are 2% higher than males5.

The customizability of SWD boards liberates female riders to express themselves through

their board in an industry centered around males. The Curve introduces a new need and requires a unique position of SWD. Through extreme culture, the Curve satisfies esteem needs; SWD provides confidence, achievement, respect, and empowerment.

Along with our customizable product and unique artistic stylings, our integrated website

will connect SWD to extreme culture, and will establish customer loyalty, growth, and excitement. Moreover, by involvement in cultural events, consumers get to know SWD personally, and get to see our artwork and board quality. Also because our product is also a unique piece of art, it keeps customers open to multiple purchases.

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4. Environmental Analysis

A. Strengths

SWD is strong in: (1) production capability, (2) product width, (3) distribution, and (4) power over customers. (1) Buying materials wholesale reduces variable costs, and the need for capital in fixed costs (minimizing investment risk), and also displaces legal accountability for injuries and damaged goods. Outsourcing also allows increased supply without employing more staff and capital investments. To continue, (2) multiple product lines, separated and justified through strategic pricing, captures riders at any skill level: competitive to recreational. Further, (3) the online store attracts customers through its interactive lifestyle space and reduces storefront costs; it is enhanced by targeted segments time spent online. Also, being located on the McGill campus allows for fast penetration of Montreal student market through trendsetters enrolled at McGill. Finally, (4) the SWD competitive advantage displaces buyer power through product differentiation, i.e. customization and grip tape designs, which also entices multiple purchases.

B. Weaknesses

Although weaknesses can be found through a company analysis of SWD, they can be turned into strengths through simple administration. (1) Creative spirits of artists cannot be consistently timely; however, motivations from customers can foster artistic capital. (2) Without market share at start-up, there is an obligation for SWD to gain customer loyalty through engaging with extreme culture (integration in lifestyle events). (3) The on-line store presents opportunity for international market, but it cannot be reached because of shipping incapabilities; there is, however, a potential to test foreign markets through the online store in the future to maintain an economy of scale. (4) Reliance on suppliers removes control over deadlines; however, suppliers are made accountable through contingencies.

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C. Opportunities

The current industry presents an opportune climate for SWD. (1) The socio-political movement towards environmental sustainability and alternative transportation offers a potential new market for SWD. Also raising gas and oil prices powers the search for alternative transportation for economic reasons. USA Today reports the latest trend in transportation amongst adults is longboarding. 85% of skateboarders leave the sport by the time they are 18, 80% of which return to recreational and transportation-based longboarding6. (2) Municipalities in the GTA and Montreal area are funding renovations of skate parks; as well (3) the rejuvenation of the Toronto boardwalk and Montreal warf, presents a new space to longboard that is similar to California, a novelty that attracted new athletes in California and potentially will do the same in Canada. (4) Socio-cultural opportunities are seen through local industry/target market events that attract media attention (Wakestok, SnowJam, etc.). (5) Increasing online interactions offers an opportunity for the SWD online store. (6) There is a potential opportunity to innovate by partnering with SlowBros; a company on the verge of developing a patented longboard disc break. The owner is a student at McGill politically tied to Conery.

D. Threats

SWD is threatened by (1) direct competition including: Sector 9 (cheap), Loaded (prestigious), Landyatz (solely slalom decks), Arbor (focus on sustainability), and Original (high value). (2) Substitutes include bikes, rollerblades, and skateboards; however, extreme sport enthusiasts are not deviated from one discipline for another. (3) Political concerns are municipal regulations and by-laws regarding skateboarding. The requirement to ride on the road, for example, may present a threat to the Grom segment; however, similar regulations on biking, did not affect young bikers. (4) Socio-cultural concerns in raising interests in video games displaces the desire for physical activity. However, government advertising to promote physical activity will work in SWD’s favor. (5) Technology poses a threat in SWDs inability to innovate longboard technologies because of a reliance on suppliers.

6 http://www.usatoday.com/sports/2006-06-20-longboarding_x.htm

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5. Marketing Plan

A. Product SWD strives to offer more than a quality product; this is done through what SWD calls

brand-culture integration. This SWD a competitive edge; the product becomes more than a longboard, rather a piece of art that enhances the ride and lifestyle, and it is done through the TEACH customization model (refer to appendix A-1):

1. Technical Specifications 2. Explanation 3. Art 4. Creation 5. Help.

The TEACH production method allows the customer to be part of the creation of their

board and remain involved with SWD through lifestyle enhancements. In step one the customer chooses technical specifications of their board; such as wheels, trucks, bearings, and deck material, all affecting the total cost of their board. Customers can choose from a list of brand name, and non-branded trucks, and wheels to create a ride suited to them. If they are looking for a more competitive level ride they can choose a bamboo deck with Gator trucks, and Abec wheels; or a beginner rider, or someone looking for a lower priced product, still high in quality, can choose a maple deck, with select trucks, and hybrid wheels.

In step two, explanation, the customer explains their vision for their board. This is

done in a graphical method where the customer sketches, on-line, the top and bottom of their board. In step three the interface displays a mock-up of their customized longboard for their approval. Step four is the creation of the board. Inventory will be kept in order to fulfil the requested features. In this stage the order is processed on CORELdraw and sent to a laser engraver through wich the deck is engraved with the design created by the customer.

Step five, help, is continued support for both the product and lifestyle. Manufacturer defects are guaranteed and nothing further, like most utilities in extreme sports. The help feature is most apparent on shipwreckeddecks.com (refer to appendix A-2).

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B. Distribution In the initial stages of start-up operations, SWD products will be e-tailed through their

online store; a direct channel of distribution, the product moves directly from the manufacturer to consumer. The online store is a strong distribution method because (1) the amount of time the target market spends on the computer, and (2) the traffic attracted by other features of the website (music, routes, news, etc.).

Customers walk through the TEACH integrated production method online to submit

their order. The order is processed, the deck engraved, and parts assembled; the finished product is delivered to the customer in different ways depending on the customer’s delivery preferences and location. If they are outside the downtown areas of Montreal or Toronto, the product is delivered via FedEx. FedEx is a reliable company that has an excellent reputation in timely delivery. If the customer opts out of delivery, and is within the Montreal or Toronto downtown areas, they can choose to pick-up their finished product at 3451 Aylmer St. Montreal, or 129 Walmer Rd. Toronto at an arranged time.

After growth, SWD will sell products in local skate shops in Montreal and the Greater

Toronto Area. At this point, a second distribution channel will run parallel to the former; SWD will continue direct distribution for online buyers and establish a second channel: manufacturer to retailer to consumer. Retailing in local skate shops will enhance the reliability and credibility of SWD, and will enhance market share growth by extending competition to off-line sellers. This will also expand the reach of the SWD brand to customers of the local skate shops. SWD will use selective distribution when selling to retail outlets. This is because the company plans to place the products in a selected amount of retail outlets that correspond to the SWD brand. The skate shop would offer a new product line with set (non-customized) packages, as well as information on the original TEACH process, and order forms. Moving into retail stores, online orders will be picked up at a retail location chosen by the customer, rather than the previous address. Set packages will be created through a contest where customers post pictures of their custom SWD longboards on the SWD site

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and other riders vote on their favorite design. The winners have their boards produces as a set package sold in retail stores, credit will be given as not to distract the originality of their ride. In order to maintain the Curve segment, female and male winners will be selected proportionately. Customization allows SWD to capture the Curve market, as woman can create a board they will enjoy with whatever colours and designs they desire; it is important to maintain their representation when selling set packages.

As a long term goal in distribution, SWD plans to move into retail outlets that

maximize the TEACH customization process and allow for complete integration into both the virtual and real world of extreme sport culture. Online sales will remain available; however, will be directed towards international markets, as SWD expands to European and Asian markets. The main focus will remain in North America with testing markets in Toronto and Montreal, and later in Vancouver and California. The retail outlets aim for a prestigious image, where apparel and accessories will be sold in the front of the store leading to the focal point along the back wall. This will be the ʻshopʼ. At the ʻshopʼ there will be artists working on products ordered by customers in the store. Customers will be able to see their boards being made right in front of them, as they enjoy a complementary Redbull to enhance the experience. There will be a lounge for customers to interact and remain informed on cultural and SWD news. Distributed at the counter of the ʻshopʼ will be touch screen interfaces where customers can go through the TEACH process, and even sketch there ideas on the tablet provided. The order goes directly to the artists who create the boards as soon as possible. The outlet will lead into other markets as well. In Canada, longboards are only sold two seasons of the year; however, the TEACH customization method is not limited to longboards; nor is the help feature, both are open to the entire extreme sport culture. This allows SWD to open new product lines in snowboarding, wake boarding, skiing, water skiing, etc. This is an opportunity for the future, that starts by building the SWD brand, and capital through the online store.

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C. Pricing SWD will use introduction psychological pricing strategies. To elicit a prestigious

image, initial product lines take a skimming pricing strategy. This will allow capitalization over consumer surplus, and will give the SWD brand a prestigious image that will be passed on to secondary lines in the future. This pricing strategy, paired with a gorilla style promotional campaign will penetrate the market and embed SWD in extreme culture as a prestigious brand. To do this, the price will be set to $250.00-$275.00/brd. pending on customer customizations.

After moving towards the growth stage of the product’s life cycle, SWD will introduce

a second product line at a lower price in order to stimulate quick growth and develop a relationship with a variety customers. This line will maintain the SWD image; however, will increase market share by targeting lower income demographics. In order to maintain the prestigious image, products will have even number pricing. This directs consumers to believe that they are getting a better product because it costs more than competition; however, they understand that they did not have to pay much more to get it. This line will be priced at $200.00-$225.00.

SWD will also use geographic pricing strategies; demand will be higher in downtown

regions than rural suburban areas. Therefore, to maintain a supply-demand equilibrium, SWD will charge consumers in cities more money than in rural areas. Lower costs in areas that otherwise would not purchase the product will encourage consumption.

D. Promotion SWD has developed strategic promotional plan that revolves around TEACH; specifically the HELP portal (refer to appendix A-2). To enhance brand integration into extreme culture SWD will target specific market segments as they have different needs, which requires unique product positioning. Asides from promoting shipwreckdecks.com through social media; SWD will also involve themselves in many cultural events that are important to extreme culture as well as other events important to the target segments. An

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example of such events include: FROSH week at McGill and Concordia, Carnival at McGill, Wake Stock, SnowJam at Mt. Tramblant, etc. At these events boards will be on display and available to demo. There will also be sticker give awaways with a reminder of the brand and website. SWD will also engage in poster advertisements around University Campuses, skate parks, and cultural stores (refer to appendix B-1 and B-2).

6. Quantitative Analysis With a start-up capital investment of $10 000, SWD could begin operations

immediately. First, SWD would acquire a laser engraver in order to perform customization. The investment in inventory will be the basis of the TEACH customization model. It would also allow for SWD acquire a wider variety of inventory. By investing in brand name supplies, SWD can capture a higher end market of more competitive riders in the penetration phase of implementation. It would also stimulate the development of an online store and building of the interactive homepage crucial for the HELP step of the TEACH customization model. Further, in order to participate in cultural events, SWD would need an attractive, portable, display. It is important that this booth is inline with the SWD brand image. It will need to facilitate the needs of artists in producing boards on site. The booth would include a tent, banner, counter top, and speakers. SWD would also need to invest in stickers as give-aways at such cultural events. Refer to appendix C-1 for a projected budget with the proposed $10 000 grant, as well as a break-even analysis in appendix C-2 (2 pages).

7. Implementation Strategy The implementation plan is divided into three phases: (1) penetrate market, (2) expand

distribution channel, and (3) increase product lines. In the penetration phase we will begin promoting shipwreckeddecks.com (point of purchase) to the Stud and Curve markets segment; the; Grom idolizes the Stud allowing us to penetrate the Grom segment through success with the Stud. Penetration of the market will be swift with promotional campaigns (posters, displays, demonstrations, giveaways, etc.) in Montreal at McGill University (starting

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point to test the market). We will put posters up around the McGill campus as well as the surrounding residence ghettos. We will also get involved with lifestyle events at the University specifically. With a launch date set for March 2012; we will raise awareness for customers in the pre-purchase stage of the buying process. Doing this over social medias, we will also get involved with Carnival; a university-wide event that lasts an entire week at the end of February. Here we will have samples of our product to demonstrations and displays. We will have sticker give-a-ways meant to direct attention towards www.shipwreckdecks.com. From there, promotional campaigns will extend to other univertities and CJEBS in Montreal, Laval, and Kirkland. After an evaluation the Montreal market, we will look into penetrating the Toronto market starting with Ryerson U and the University of Toronto.

In the expansion phase, online store operations will continue; however, we will focus

on sales to independent (local) skate shops in the GTA (ex.: Noise, So Hip, Gravity), and Montreal (ex.: Off the Wall, Underground, Empire). To maintain and enhance TEACH (integrative production), there will be an Artist/Salesperson at each shop (during the busiest hours) who creates the board on-site while the customer enjoys a Redbull (branded as extreme, enhances mood) on us. To celebrate the transition, we will host ʻpartiesʼ in the shops with live music from bands/DJs on our website, refreshments, giveaways, and discounts.

In phase three we will increase the product lines to lifestyle apparel and accessories that perpetuate the originality and individuality of the SWD brand. These products will skim the market, first to be given away with boards, later to be sold at a discount when purchasing a board.

Refer to appendix D-2 for an outline of each phase of the implementation plan.

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I. Appendix A-1

Below is the, Marketing Layout for TEACH:

Below the marketing layout for TEACH appears on the website. Each step is clickable; a pop-up explains what happens during the corresponding stage and how it contributes to the process. There will be pictures, videos, and copy:

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II. Appendix A-2

Step five, HELP, is continued support for both the product and lifestyle. Manufacturer defects are guaranteed and nothing further, like most utilities in extreme sports. The help feature is most apparent on shipwreckeddecks.com. The home page is divided into four quadrants, and is shown below:

The home page will be interactive with each of the four quadrants linked to a pop-up

window. In the Leisure (top left) quadrant, users can find friends, blog, post pictures, and find tips (in video form) on executing new maneuvers (dancing, carving, etc). They will also find lifestyle events, festivals, and music from bands we will support in the future. In the Routines (bottom left) quadrant, users can find the best routes in their area to navigate through the city seamlessly. They can also find some of the more challenging places to ride; boarders will be able to post new places, comment on certain routes, and ʻlikeʼ them. Under the Athletics (bottom right) quadrant, users can find information on the industry’s top riders, and competitions, as well as what is going on around the world, relevant to extreme culture. The SHIPWRECKEDDECKS quadrant will link to information about SWD. It will be a blog-like setting that keeps customers up to date with what’s new with SWD. This is a website that extreme sport goers would appreciate as a personal homepage.

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III. Appendix B-1

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Describing the Advertisements On the previous page, in Appendix B-1, is a temporary promotional poster/newspaper

ad. It is meant to connect the brand back to the roots of longboarding on the boardwalk, away from the city. The ad implies the sexual innuendo: itʼs better on top. It is aimed toward the Stud as it gives him the opportunity to explore his own roots through longboarding, all the while teasing him with his sexual counterpart, the Curve; portraying the Curve as unattainable, enhancing desire. This ad also target the Curve as the female in the image represents a woman empowered by longboarding; she is free from the stereotypes restricting her in the ‘real’ world.

On the following page, in Appendix B-2, the ad aims towards the need of thrill, and

rebel, and is largely targeted towards the Grom. The ad also captures the Stud at is present an opportunity to exceed expectations the world has of him as he is at a point in his life that pressures him to succeed for the sake of his future. As this as allows the Grom to rebel, it allows the Stud to go further.

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IV. Appendix B-2

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V. Appendix C-1 Projected Start-‐Up Budget

Allocation Value Future Cost to Acquire Margin Production

Made prior investment

Capital Laser Engraver $8,000 $8,000 fixed

Ocilating Spindle Sander $200 $200 fixed Jig-‐Saw $125 $125 fixed Cat Sander $75 $75 fixed Drill $75 $75 fixed Tool Box (wrench, screwdriver, knife) $50 $50 fixed Supplies (price/unit)

Deck $20 $400 20 units Truck (2 pcs.) [includes hardware] $15 $300 20 units Wheel (4 pcs.) [Includes Bearings] $25 $500 20 units Grip Tape $3 $60 20 units Sub-‐Total

$9,785

Distribution

Online Store TEACH Portal development $300 $250 fixed

HELP Portal development $200 $250 fixed Store $500 $500 fixed Hosting/Domain $30 $30 /yr. Sub-‐Total

$1,030

Promotion

Advertising Posters $200.00 $200.00 fixed

Business Cards $300 $300 fixed Stickers/Buttons $100 $100 fixed Event Sponsorship

Tent $75 $75 fixed Speakers $150 $150 fixed Banner $50 $50 fixed Sub-‐Total

$875

Total

$11,690

Total $10,260 *Highlighted is the arrangement for grant that will be spent within 6 months

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VI. Appendix C-2

Break-‐Even Analysis Costs

Fixed Costs Capital Investment for Production Laser Engraver $8,000

Ocilating Spindle Sander $200 Jig-‐Saw $125 Cat Sander $75 Drill $75 Tool Box (wrench, screwdriver, knife) $50 Capital Investment for Distribution

TEACH Portal development $300 HELP Portal development $200 Online Store $500 Hosting/Domain $30 Capital Investment for Promotion

Advertising Posters $200.00

Business Cards $300 Stickers/Buttons $100 Event Sponsorship

Tent $75 Speakers $150 Banner $50 Total $10,430.00 Variable Costs

Deck $20 Truck (2) [includes hardware] $15 Wheel (4) [Includes Bearings] $25 Grip Tape $3 Total $63 Contribution Margin

Avg. Price/unit $250 Avg. Cost/unit $63 Contribution Margin $187 Break-‐Even Analysis Number of Units 55.77540107 Sales $13,943.85

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0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

1 6 11 16 21 26 31 36 41 46 51 56 61 66 71

Sales

Number of Units

Break-‐Even Analysis

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ViI. Appendix D-1

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VIiI. Appendix D-2