Consolidation Research Paper Example | Topics and Well Written Essays - 750 words

Consolidation - Research Paper Example Throughout the article, KWG, or the German Banking Act, which has detailed regulations on how consolidation accounting for financial institutions should be carried out is used to demonstrate these regulatory discrepancies with regard to the IFRS (International Financial Reporting Standards) (Xuccess Reply, 2012). The article goes on to recommend that extensive changes in the way procedures are implemented and data processing is carried out when it comes to consolidation accounting be implemented in order to overcome some of these challenges. Getting rid of these challenges, the article proposes, will result in better conversion of consolidation accounting processes. The chief issue being discussed in the article is how discrepancies in accounting for consolidations in relation IFRS (International Financial Reporting Standards) poses challenges that require considerable changes in how procedures and technical data processing takes place. German Banking Act (KWG) is used to demonstrate how these differences pose numerous challenges. KWG and IFRS differ in how they view consolidation groups. Some companies that are part of the regulatory consolidation group under KWG regulations do not qualify as consolidation groups under IFRS regulations. This presents challenges since deconsolidation as well as other changes are necessary to reconcile the regulatory provisions of one body with the other (Xuccess Reply, 2012). KWG refers to a subsidiary in the context of consolidation accounting as a company that presents the possibility of being controlled by the parent company through majority voting rights, executive control, and so forth. These conditions are also subsumed under the IFRSs definition of a subsidiary company (Xuccess Reply, 2012). However, the concept of control under IFRS regulations distinctively says that the parent company has to have

Biopharmaceuticals against Viral disease - development and Research Paper

Biopharmaceuticals against Viral disease - development and pharmaceutical action - Research Paper Example In particular, biopharmaceuticals that are produced to target viral diseases will be examined using the example of Hepatitis C. Biopharmaceuticals are generally large proteins (Sekhon, 2010). The manufacture of these proteins can be done on a large scale using biotechnological methods. What production system is used depends on the type of protein being developed but can range from mammalian cells, yeast, insect cells or bacteria (Sekhon, 2010). The primary goals that have to be taken into consideration when developing a biopharmaceutical are that it should be effective under clinical situations, it should be in a form that is approvable by regulatory authorities and it should be practical to market commercially (Sekhon, 2010).after taking all these factors into consideration, the production of a biopharmaceutical is no easy feat. It requires work on many different levels of expertise (Sekhon, 2010). Very broadly, the development of a biopharmaceutical vaccine to target viruses generally involves the following stages. There is production of a carrier system followed by inoculation of the target with the virus. Reproducibility and infectivity are eliminated and the virus fragment is then purified (Sekhon, 2010). One biopharmaceuticals have been manufactured, there is also the possibility of manufacturing biosimilars, which are other biopharmaceuticals with similar structure and function. This is a challenging task as slight changes in structure; composition etc may result in a large disruption of function (Locatelli and Roger, 2006). The protein content, activity, physiochemical integrity, stability, impurities and additives and immunogenicity all have to be tested separately to ensure that they do in fact behave like the reference drug. A variety of different assays is used for this process (Locatelli and Roger, 2006). One of the major hurdles with the manufacture and use of biopharmaceuticals

A critical review of Delayed Auditory Feedback as a means of managing Essay - 1

A critical review of Delayed Auditory Feedback as a means of managing a speech dysfluency - Essay Example (Craig et al., 2002) Approximately 80% adult stutterers are men. Only 20% are women. (Yairi, 2005) The goal of DAF therapy is to increase the length and complexity of utterance with the use of the device. As soon as there is a sign of improvement in the patient’s stuttering of speech, the patient will then be advice to limit the need for speech therapy sessions. In line with this study, the general facts about stuttering, how Delayed Auditory Feedback (DAF) works, the effectiveness of DAF devices, long-term effects of the using DAF devices, and the advantages of using DAF devices will be discussed thoroughly. Stuttering is a speech fluency disorder that is normally characterized by prolonged frequent repetitions, and pauses that could interfere with the normal flow of speech. When a stutterer speaks, his/her speech is usually broken down by repetition of words (th-th-that way), prolongations (llllike this), or abnormal stoppage (no sound) of sounds and syllables. Unusual facial and body movements could also be associated with the person’s effort to speak. Several theories with regards to the causes of stuttering have been developed in the past. Some people view stuttering as a syndrome of neurological disturbances even though there are times that stuttering can be triggered by our emotions or by an emotional and/or situational events. (Braun et al., 1997) For this reason, stuttering can be related to both neurological and physiological by nature. Other people view it as a learned behavior wherein a child is in the middle of learning and developing his/her speech. In rare cases, stuttering has been suspected to have a connection with psychological problems. These theories have never been scientifically proven. In the past, stuttering has been widely related to genetic factors. (Cummings et al., 1996) However, the degree to which stuttering is related to genetic factors, environmental factors, or both still remains to be unknown. Due to

Modernism and Postmodernism in Product Design Essay Example for Free

Modernism and Postmodernism in Product Design Essay Modernism and Postmodernism are two important thought in design. The Postmodernism is evolution from the Modernism. The modern movement of the 1930s through post-modernism of the 1960s. Although that in this modern society, it is still using Modernist and Postmodernist design. Modernism and Postmodernism have their own principles and sign. In the following paragraph, I will go to identify the different between Modernism and Postmodernism in product design. And also analyze each Modernist and Postmodernist product. Firstly, the period of Modernism started in beginning of 20 century. Modernism occurred in 1930s. It influenced by Bauhaus design principles in 1919. Its founder was Walter Gropius. The inspiration come from Russian Constructrism and De Stijl and search for clear similar idea to De Stijl. There are 3 important principles; form follows function, economy of form and truth to materials. That function became the fundamental beliefs of modernism. Therefore modernist product designs are base on function. Its products are more practicality. Modernism is object too much superfluous decorate. (Mattox 1995, [Online]) It is advocate simplify, geometric, clear, neat and tiny. It usually presents the meaning in directly (Mattox 1995, [Online]) The material of modernist design is stress on good quality. Therefore all of the modernist designs take on geometric, simplify and functional (Mattox 1995, [Online]) Now I am going to talk about some modernist product. Chris Everard 2000, in Wilhide 2000, p.37 The first of the modernist product is a lamp. It calls AJ Visor. It was designed by Arne Jacobsen in 1956. He is a modernist designer. When he established his own practice in 1930, he introduced the modernist aesthetic to Denmark (Wilhide 2000, p.37) His style is simple. This lamp looks simple. It has a metal shade and it is steeply angled. The minimalism of the stand and the stem give that look alertness and focus. (Wilhide 2000, p.37) This design based on the function, it can provide the concentrated directional lighting for reading. The metal shade like a visor, it can shield the eyes from the glare of the light. Metal is a one of the modernistic material. The base is circular and it cut out a circle in the base. It can balance the lamp to stand. (Wilhide 2000, p.36) Overall, it is poise and refinement. (Wilhide 2000, p.37) It uses the white colour and simple shape to make user feel an elegant and simple life style. Therefore it is a modernist design. Chris Everard 2000, in Wilhide 2000, p.32 Chris Everard 2000, in Wilhide 2000, p.33 The second modernist product is a light. It calls Tube light. It was designed by Eileen Gray in 1927. She is a modernist. Her style is simple and elegant. She likes to use some new materials in her period such as tubular steel. (Wilhide 2000, p.32) This light has a long light tube. The tube supported by slim chromium plated steel frame. This kind of material is a good quality in her period. It looks simple and it no more decoration. In this design, it base on function. The only one function is for lighting. From this light, it show that Gray expect have a simple, harmonious and comfortable life. (Wilhide 2000, p.33) This light is a typical of modernist design. Barcelona, in Stimpson 1987, p.69 The third modernist product going to analyze is a table. It called Barcelona. It was designed by Ludwig Mies van der Rohe in 1930. It designed for the Tugendhat House. (Stimpson 1987, p.69) It made of flat bar steel and it has a joint welded in X shape be the frame. It has a glass top be the surface of the table. (Stimpson 1987, p.69) It is a simple and traditional table. It shape in square and has four legs. The surface of the table is flat and square. It is a practical table. Therefore, this table proof that the modernist design is geometric, simplify and functional one more time. And also meaning modernist designer expect have a simple life style. Wassily Chair, DWR [online] The last modernist product is this chair, called Wassily Chair. It was designed by Marcel Breuer in 1925. The Breuer Wassily has few equals. However, Marcel Breuer may not be as famous as his modernist contemporaries Mies van der Rohe and Le Corbusier, he was certainly as brilliant a furniture designer. (DWR, [online]). The first bent tubular-steel chair ever, is a case in point; all first tries should be this good. (DWR, [online]) The chair is using the daring and fresh colour to printing. That can animated character brings life to any residence or office. This is a modernist product. Secondly, Postmodernist: Decoration and appropriation, the return of narrative and content. (Postmodernism 2001, [online]) The period of Postmodernism is start at the end of 20 Century. Postmodernism is stress on the decoration and the looking. Their design is base on their feeling and what the meaning they want to present. It was also not affect by popular culture. Each Postmodernist design or product can be present each designers thought and their own culture. They like to develop some classic or modernism design to Postmodernism. (Chan 2000, [online]) Postmodernist design is not usually presents the meaning in directly. It means the meaning is not clear. The material of Postmodernist design is depending on the designer. They use everything which can be present their feeling and meaning to make the Postmodernist Product. Therefore Postmodernist design is advocate progressive, Contextual, multiple view, complexity and abstract. (Mattox 1995, [Online]) Now I am going to give some exa mple to prove my definition. Alessi SpA, in Collins 1994, p.140 The first of the postmodernist design go to discuss is a set of tea and coffee service. It call Aircraft carrier. It was designed by Hans Hollein in 1983. The whole set of tea and coffee service is made by silver. The teapot and cups is position on its carrier-shaped tray. The teapot is shaped like a plane. The idea of this tea and coffee service is from the Aircraft carrier. The cups and teapot seem like it ready to take off in the users hands. (Collins 1994, p.140) In this product, designer develops the shape of cups, teapot and the tray to unlike other tea and coffee service to achieve meaning which he wants to present. He also use the silver be the material It can present the Aircraft carrier is cool. (Collins 1994, p.140) This design is base on the designers feeling and his meaning which he wants to present. From this we can distinguish this is a postmodernist design. Alessi SpA, in Collins 1994, p.137 The second postmodernist product is a kettle. It called Bollitore. It was designed by Richard Sapper in 1983. It made by stainless-steel. It have a dome-shaped body and with a whistle in the drain of the kettle which shape like the end of a Wild West six-shooter. When the water boiling, the kettle can produce the sound of an American steam locomotive. (Collins 1994, p.136) The shape of the handle looks like the cockscomb. The idea of this kettle is come from the Wild West in American. In this kettle, designer use the Wild West six-shooter shape and the sound of American steam locomotive to achieve the meaning which he want to present. (Collins 1994, p.136) From this we also can distinguish this is a postmodernist design. Chair_one, unica home [online] The third postmodernist product is Chair_one. It was designed by Konstantin Grcic 2003. This is a brand new product. The chair_one is an exceptionally versatile indoor or outdoor seating system. (Unica home, [online]) It can use in different version such as fixed, swivel and stacking. And it made by strong aluminum, cataphoretically-treated and painted in red, white or anthracite polyester powder. (Unica home, [online]) The chair shape likes skeleton. It can present the designer meaning and feeling. Actually this chair is for the decoration more than the functionally. Thurs, this is a postmodernist design. Torso armchair and sofa, unica home [online] The final product is an armchair and sofa. It was designed by Paolo Deganello in 1982. It was a cassina collection with the series offer armchairs and sofa with steel structure, polyurethane foam and polyester padding upholstered in either fabric or leather and attached to the frame by elastic webbing. (Unica Home, [online]) The armchair can be a bed It used the bright colour to be more attractive. The customers can choose any colour of the chair. The designer wanted to present the freedom of the life. This is a postmodernist design. In my conclusion, Modernism and Postmodernism have there own principles. Under my research, I find out the main idea of Modernism is base on the function and present the meaning directly and clearly. It advocates simple design. It also objects too much decorates (Mattox 1995, [Online]). The idea of Postmodernism is base on the decoration and the looking. It advocates individual creative thinking and not present the meaning directly and clearly (Nip 2001, [online]). Overall, Modernism and Postmodernism have their own characteristic. They can let designer bring more idea. Bibliography Bicket, 1998, Modernism and Postmodernism Some Symptoms Useful Distinctions, [online], (21/05/1998 update), available: http://www.geneseo.edu/~bicket/panop/modpomo.htm (10/08/2004 access date) (Bicket 1998, [online]) Chan Kai Fung, 2000, The style of Postmodernism, [online], (1/10/2000 update), available: http://ktgss.edu.hk/academic/art_and_design/2000s3d/chankaifung/a1.htm (10/08/2004 access date) (Chan 2000, [online]) Collins, Michael, 1994, Towards Post-Modernism Design since 1851, British Museum Press, London (Collins 1994, p. ) Design within research, [online], (10/08/2004 update), available: http://www.dwr.com/productdetail.cfm?id=4070 (DWR, [online]) Nip Yan Choi, 2001, Talking about Postmodernism, [online], (10/08/2004 update), available: http://new.ccea.org.tw/excel/comunication/soc/19.htm (10/08/2004 access date) (Nip 2001, [online]) Postmodernism, [online], (04/2001 update), available: http://retrokat.com/rescue/class/10787/wk02.htm (10/08/2004 access date) (Postmodernism 2001, [online]) Stimpson, Miriam 1987, Modern Furniture Classics, The Architectural Press Ltd., London (Stimpson 1987, p.) Wilhide, Elizabeth 2000, Living With Modern Classics, The Light, Watson-Guptill Publications, New York (Wilhide 2000, p.) Unica Home, [online], (10/08/2004 update), available: www.unicahome.com/ catalog/item.asp?id=12972 (10/08/2004 access date)

Marketing Plan for Launching a Chocolate Brand India

Marketing Plan for Launching a Chocolate Brand India India is on the move and so are the markets in India. Apart from economic changes. India is also facing social changes like changes in life style, hobbies etc. New fashions, Advertisements holidays, etc. are in today. Further, food habits of Indians are changing rapidly. Chocolates, which were believed to be kids preference, are now being consumed by kids, teenagers, and adults. Chocolate market in India (Currently 20,000 tones is growing at the rate of 22% annually). To take advantage of the growing market, international confectionery companies are getting ready to woo the proverbial Indian Sweet tooth. An influx of worlds leading Chocolate players is expected. Further, since Confederation of Indian Industry (CII) is a representative body of the Indian Industry, it receives its inquiries for pertinent marketing information from various domestic and international players, who want to invest in India. In the above context, the prime objective of this report is to prepare a marketing plan for any brand that is planning to enter the India Chocolate Market. Therefore, this report is generic (broad based) to the extent that it does not focus on any single brand. However, this may prove to be a relevant marketing guide for any brand launch in India. METHODOLOGY As mentioned earlier, the objective of the study is to formulate a Marketing Strategy for any new entrant in the Indian Chocolate Industry. While recommending the said strategy detailed information from both primary and secondary sources was collected and analyzed. This included: Primary Sources Four level primary information collections were undertaken. These were: In order to get relevant information regarding competition, executives of the following chocolate players in the market were interviewed: Mr. Sanjay Verkey, Branch Manager, Cadburys India Ltd., ANZ Grindlays Building, Connaught Place, New Delhi. Information: Cadburys profile, products, distribution, etc. Mr. Verma, Sarura Business (I) Ltd., Panchsheel Vihar, New Delhi, the company that has launched Mars Inc. brands (imported) in India. Information: Complete marketing strategy-since, imported chocolates marketing is a new concept Mr. N Bohidar, Manager Corporate Communication, Nestle India Ltd., Connaught Place, New Delhi To analyze buying behavior and in order to gain an insight into the buyer need-satisfaction level, a questionnaire was formulated and administered among 80 people. The profile of the respondents was as follows: Consumers of chocolates 12 years + in Delhi. This was since; chocolate consumption was witnessed amongst all age groups. A distributor was also interviewed so as to get pertinent information regarding the most important P of FMCG marketing Place, information provided by Mr. Rajesh Mittal, Ex-distributor of Nestle India (Rohini district), was extremely helpful in recommending the distribution strategy. Extensive interviews were conducted with retailers in the Naraina Vihar area. These included pan shops, bakeries, departmental stores, etc. they provided information on various facts of chocolate distribution such as point of purchase material (dispensers etc.), infrastructure problems, critical informational regarding the policies of the present players in the market, etc. Secondary Sources A number of secondary sources of information were used. These were: Mr. M.N. Rao, Secretary, Indian Confectionary Manufacturers Association, Sugar House, Nehru Place, New Delhi. Information: Industry statistics, problems facing the industry, future outlook, etc. Also measures being adopted for cocoa production development. Confederation of Indian Industries reports. PHDCCI FICCI library. Internet websites of Cadburys, Nestle and indiainfoline.com, askjeeves.com Extensive use of secondary information in the form of magazines/journals/newspapers clippings, such as Business World, Business Today, Business India, AM, Brand Equity, Economic Times, etc. The methodology adopted was as follows: Industry scenario Sketch (utilizing secondary information) Extensive interviews held with Primary/Secondary Sources (Companies/Chocolate manufacturers Association) Interview with ex-distributor of Nestle India Ltd. Extensive retailer interviews in Naraina Area Formulation and administration of a questionnaire Formulation of the Recommended Strategy on the basis of the above mentioned Primary and Secondary Information Limitations of the study Since, the administration of the questionnaire was restricted to Delhi, results may provide an urban view of the buying behavior and the like. Also, secondary sources were used for information regarding Amul. Industry scenario was also drawn up, utilizing secondary information. THE INDUSTRY SCENARIO With the entry of multinationals, and home companies sprucing up their act, the confectionary market is booming. Mckinsey has estimated the confectionary industry to touch a whopping Rs.8500 cr. by the year 2009. Till the eighties, the chocolate market was small and the product category itself was fuzzy. In the eighties, Cadburys the virtual monopolist had decided to focus its efforts on making chocolates a distinct category with an identity of its own. And the marketer had sharply positioned its product at children to do that. Hence, chocolates bore an only for kids tag, and kept adults at bay. By the end of the eighties, Cadburys still ruled the roost with over 80 % market share. And though several brands like Amul and Campco tried to break into the market, none of them had succeeded in shaking the leaders grip. In fact, Cadburys had become a brand virtually generic to chocolates. Then chocolates were used to reward and reinforce positive behavior and hence were categorized as a luxury reserved for special occasions. This was, a stark contrast to the west where chocolates were snacked on, eaten as mini meals or just to suppress pangs of hunger. But constant working by players like Cadburys (re-launch of Cadburys Dairy Milk targeting adults and as a casual any-time buy) and Nestle towards exploding the myth that chocolates are meant for children only has resulted in the segment booming. Trends in the Industry With socio-economic changes rapidly taking place, the young and not so young population will lead a new life style and chocolate eating is definitely going to be widespread and acceptable. In the industry, both population and family incomes as well as urbanization are on the increase. There has been a significant growth in the middle class, with 5.8 million people having upgraded to the quoted middle class. There is quantified data on FMCG usage having increased (NRS -VI IRS 98 figures) Thanks to the above reasons the growth in the chocolate market is estimated to be at 28% in 2009. But marketers in the industry are looking forward to a much higher growth rate, as Indias per capita consumption of chocolates is only 15 Gms. Versus 6 kg in the west. The Industry Chronology Year Demand Rupee Growth Rate 1990 12000 tones 350 cr. 2 % 1994 Excise duty increased to 15 % 13 % Excise duty further increases to 28.75 % Cocoa Prices Zoom Drops to 6 % 1995 Excise duty reduced to 25%, further to 20% and finally to 18%. Import Nestle launches Kit-Kat sets up a new unit. Production arrangement with CAMPCO continues. Mars selects production site. 1996 Market zooms up due to greater marketing thrust by players (especially Cadburys) Chocolates Selected import item 22 % 1998 Chocolates Open general license 20000 tones 22 % 2003 Quantitative restriction lifted 32000 tones 22 % The Indian Chocolate market can be sliced into four parts. Moulded Chocolate Segment comprising slab chocolates like Dairy Milk chocolates, etc. These are made by pouring the ingredients into moulds. Countline Segment comprising bars like 5 star, Bar One, Perk, Kit Kat, etc. These have ingredients other then chocolate and are usually bar shaped, making for chunky bites. Choco-Panned Segment comprising chocolate forms like Butterscotch, Nutties, Tiffins, etc. Panned varieties have different cores/centers, which are covered with a layer of chocolate. Sugar-Panned Segment comprising chocolate forms such as Gems, Chocolate à ©clairs, etc. These generally have a sugar coating on the outside. The Chocolate industry has grown from 12000 tonnes in 1990 to around 32000 tonnes in 2001. The rejuvenation exercise of Cadburys, was one of the key reasons behind the churning up of the countrys Rs. 350 crore chocolate market to a growth rate of 22% in 1996, from a mere 2% two years earlier. Chocolate Market Shares Interestingly, kaira district cooperative Milk Producers Ltd. (KDCMPL) the manufacturer of Amul chocolate is selling whatever it produces. Limited capacity is also a reason for the share it has. However, Amuls memorable advertising campaign positioning it as a A Gift for someone you love, saw the sales graph rising. Amuls sales grew by 39% then. Ever since, Amul has maintained a low profile. It can further be seen that Amul (see findings). Other Domestic Players The only other organized player in the market is Campco, which has an insignificant share of the market. It is supplying its production to Nestle. Apart from this Campco did come up with its new brands like Treat. But crunch of resources grossly effected the pace of the company and is hardly to be heard of today. CHOCOLATE LAUNCHES OVER THE YEARS 1956 Cadburys Milk Chocolate launched 1967 Cadburys 5 Star launched 1970 Cadburys Éclairs launched 1974 Amul chocolates launched 1986 Cadburys milk chocolate re-launched as Cadburys dairy milk (CDM) 1991 Nestle chocolates launched. Cadbury counters Nestlà ©s entry with all silk, and unfurls huge consumer promotion campaign. CDM revamped. Nestle launches Milky Bar; Cadbury counters with Creamy Bar. 1994 Cadburys Real Taste of Life and 5 Stars Reach for the Stars campaign rolled out. Éclairs revamped and renamed Dairy Milk Eclairs. 1995 Cadbury launches Perk, pre-empting Nestles Kit Kat. Overtures is withdrawn. 1998 Market growth rate tops 40 percent per annum. IMPORTED BRANDS Considering the high growth potential, various multinationals wanted to set up facilities in India (Mars being one of them). However, shortage of cocoa, seasonality in demand, and the absence of a proper cold chain deterred them from investing in India. The government also moved the import of chocolates from special item list to open general license category. The duty structure was also reduced. This resulted in making import of foreign brands easier and price competitive. Due the above, mars inc.- the US giant, who had decided to set up facilities in 1995 (the site for which was also selected), decided to postpone its investment plans. An alternate strategy was formulated to import Mars chocolate brands into India through Sarura Business (I) Ltd. Sarura, which came into existence about and year ago, imports Mars brands and sells through its own distribution network. Highlights of the strategy being followed are mentioned below: Imports Mars brands every 40 days, after careful demand analysis. Takes 20 to 22 days to reach India. Duty structure Customs Duty 40% Counter vailing Duty (a form of excise) 2% Special Duty (Surcharge) 3% The import duty on finished product is expected to come down to 20-25 % in a phased manner. Distribution Logistics The company has its operations being controlled from Delhi. A typical FMCG distribution chain is being utilized. This includes- Carrying Forwarding Agents Distributors Retailers and Wholesalers (about 5000 as of now) Consumers In Delhi, the company reaches the retailers and the wholesalers on its own. It operates about 3 vans, and each other retailer is serviced twice a month. MARKETING OBJECTIVES Short Term Objectives Taking into consideration the growth rate of the market competition with major brands, the marketing objectives can be as under: To introduce chocolates in various new flavors. To make a place in consumers mind. To provide quality chocolates at affordable price. To achieve a market share of around 15% by the end of two years of operation by the means of 7.5% by creating the new market. 7.5% by taking competitors share. Long Term Objectives Investing in strengthening the grass root level operations like cocoa farming, milk collection and storage. A broad product portfolio, a large and efficient RD department, decentralized management, etc. Nestle has about 2000 distributors in 1700 towns and more than 500,000 retail outlets to match this MARKET RESEARCH In order to recommend and execute an effective strategy for marketing of goods services, a systematic market research needs to be undertaken. The buyer preference research would play a vital role in the assessment of consumers taste/purchase habits and a better understanding of the consumers mind. In fact the strategy formulation/recommendations in this report of the marketing mix relies heavily on these research findings. A questionnaire was administered (as mentioned in the Methodology) amongst people of different age groups and professions. Results from this research provided interesting cues, which were extremely beneficial in the formulation of the recommended marketing mix. The main object of this research/questionnaire were as follows: To find out the current taste/chocolate eating habits. To find out the extent of brand loyalty. To get feedback of consumers perception about flavors and conventional outlets. To find out extent of price sensitivity. Retail outlet preference. Brand preference etc. OBSERVATIONS Based on the basis of the questionnaire research, some of the facts that came to the fore have been listed below. These research findings played a key role in the development of the recommended marketing strategy. AWARENESS PURCHASE PREFERENCE Top of Mind Awareness Purchase Preference What influenced you to buy the selected brand PURCHASE BEHAVIOUR Reasons for Purchase Chocolates A gift to a love one As a gift it is for IMPULSE DRIVEN Most of my chocolate purchases are preplanned I often pick up chocolates while I make other purchases REINFORCING IMPULSE PURCHASE IMPORTANCE OF ATTRIBUTES PERCEPTUAL MAPS Importance of various Attributes in Chocolates Rank of Chocolates on various attributes Attributes 1 2 3 4 5 Taste CDM KitKat 5 Star Perk Amul Quality KitKat CDM Perk 5 Star Amul Packaging KitKat CDM 5 Star Perk Amul Price Perk 5 Star KitKat Amul CDM Flavor KitKat CDM Amul Perk 5 Star Add-ons KitKat Perk CDM 5 Star Amul Brand image CDM KitKat Perk 5 Star Amul PRODUCT RELATED Taste Preference Size Usage. What size of a chocolate go you normally buy- PRICE RELATED Suitable price for a 40 gms Chocolate Price Perception. The price of most preferred brand is Price sensitivity (Elasticity). If price of your favorite brand is reduced. You will buy more of it Price sensitivity. If the favorite brand is few Rs. Expensive would you to go for it ADVERTISING/PROMOTION RELATED Advertisement Recall Test Unaided Most like Ads Unaided Whether, sales promotion would affect your purchase decision Band loyalty. If a particular brand is not available, you will: If you want to buy a wafer chocolate, say Kitkat and if it is not available, you would settle for a Bar/Moulded chocolate say 5 Star or CDM CHOCOLATE BRANDS IN INDIA Are you happy with the kind of chocolate brand available in India PLACE RELATED Outlet Preference DEMOGRAPHIC PROFILE OF THE RESPONDENTS Age Sex Marital Status Occupation Monthly income Michael Porters Model for Competitive Advantage There should be continuous efforts towards competence by drawing down costs and improving product quality. According to Michael Porters 5 point model for competitive edge, any corporate entity needs to counter threats posed by the following five market forces. The Corporate Entity Potential Entrants Competitors Activities Suppliers Buyers Substitutes Potential Entrants With the increase in growth rate of the market and wide spread acceptance of chocolates in Indian market, companies like Mars, Sara Lee etc. are eyeing the chocolate market. American Hershey foods etc., also plans to enter in it. Though these companies would facilitate further growth of the market, they would also want a share of the pie. Further, a favourable duty structure would facilitate import of international products than new manufacturing units being set up. MARKETING MIX The objective of the marketing mix developed is: To develop a product that is available, affordable, based on local raw material, and adapted to the taste the nutritional habits of the population. The elements of the mix Product, Price, Place Promotion have been entailed below: Product As mentioned earlier, the two most important segments of the market are moulded and countline segment (segments have a high share of the market). Also, it can be seen in the findings, the Indian consumer does not recognize the difference between moulded and countline segment. Further, a key decision that needs to be taken is to decide whether to have a core brand focus of have a plethora of brands. Here, it would be advisable to launch a complete basket of products covering both the countline and the moulded chocolate segment (at least if not Panned). A range of brands can help cushion out risks over the entire offering. Also, it has been that to sustain in the long term, a complete portfolio of chocolates for every taste is essential. However, a concentration strategy may be adopted in the first phase, focusing on one core flagship brand. The various product attributes have been mentioned below: Stipulations regarding the use of Hydrogenated Vegetable Oil HVO (since it contains nickel) may be adhered to. Nickel in chocolates can cause cancer. However, research is still on to prove this. Product formulation should keep this aspect in mind. Packaging: The packages or the cover packs, of the brands can be in Blue, Green and Red color which represents a fun element. The packaging should MARKET TESTING PLAN It would reduce the risk of failure in the market where it goes national, by validating the marketing mix. Facilitate validation of positioning. Allow corrective action through incorporation of consumer feedback. For test marketing the chocolates, the plan may be as follows: Test Objectives: To validate the brand names, new outlets, etc. and to measure the sales volume, pricing and promotion policy. Competitor reaction can also be analyzed. The product may be launched in Bombay (as a soft test launch). This selection was based on: Bombay is uniformly represented by the target segment. Competitor activity is high. Also, Nestle was able to wrest a significant market share from Cadburys when it was launched. Bombay is representative of the target segment. IMPLEMENTATION A Well-designed marketing plan counts for nothing, if not implemented properly. Success in the market place depends upon the way the plan is implemented. The launch is recommended to be before winters-say September or October, since- That period would facilitate high Diwali sales, and FUTURE OUTLOOK The growth and expansion of the Indian chocolate market in the past has been hampered, due to stiff excise duties on chocolates (at 18 percent while other agro based products are being charged as low as 8% and a few, even 0% excise) and non-availability of quality cocoa in the country. Also, import of chocolates has been put in the OGL category, with duties being reduced (in a phased manner). The industry has made recommendations to the Indian government to go back to the special item list category, in order to safeguard the domestic industry. However, continuous marketing focus by the players in the market has resulted in the industry looking up like never before. These companies/brands have become much more market savvy. The Indian chocolate market is transforming and new players (Sara Lee is planning to set up base in India) are entering the market. Hence, considering the low per capita consumption of chocolates, the future of the industry seems to upbeat.

Free Flow of Capital in Developing Countries Essay -- Essays Papers

Free Flow of Capital in Developing Countries Today, there are very few who argue against free trade, however, the idea of capital mobility to and from developing countries is a highly debated issue. Capital is the financing(money) or goods, used to produce other goods. Capital can further be split among capital debt and capital equity/finance. Equity capital or financing, is money raised by a business in exchange for a share of ownership. Ownership is achieved through shares of stock. Debt capital is represented by funds borrowed by a business that must be repaid over a period of time, usually with interest. Typically, short term debt is of less concern because if stockholders sell out, the value of the stock falls and the stockholder is hurt. The company isn’t necessarily hurt now, but will have a difficult time raising funds through future stock issues. Debt is of more concern. If short term debt isn’t renewed, than the company has to liquidate assets in order to pay. Therefore, capital mobility is the free flow of liquid investments from one country to another. Now although capital mobility could finance the world’s developing countries, increase wages, and create a more competitive world market (which is very beneficial to consumers); there are negative affects including income inequality, corruption, and bad capital control management . This paper will tackle both the good and bad aspects of capital flows in order to further analyze the theory of capital mobility. Before continuing it is necessary to look at some of the background and purpose of capital flows. Only until around 1980, have developing countries seen this idea as positive. Before, there was the feeling that with foreign capital a... ...s should absolutely approach with caution, because capital flows are too unstable to gamble with. Resources - Class Lecture Notes: â€Å"Trade and Capital Flows† - Class Handout: â€Å"Trade and Employment† - Hartwell, A. Christopher. Policy Analysis: The Case Against Capital Controls. The CATO Institute. Washington D.C. June 14, 2001. - http://econ.cudenver.edu/beckman/econ4410/stiglitz-world%20crisis.doc - http://quote.bloomberg.com/apps/news pid=10000039&sid=aFNcMq9i7rx0&refer= columnist_derosa - http://www.bepress.com/ev/vol1/iss1/art1/ - http://0-firstsearch.oclc.org.skyline.cudenver.edu/WebZ/FSFETCH?fetchtype=full record:sessionid=sp07sw02-58421-e0iyjwrgp5q5z:entitypagenum=3:0:recno=1 :resultset=1:format=FI:next=html/record.html:bad=error/badfetch.html:entitytop recno=1:entitycurrecno=1:numrecs=1

Margins: Meaning of Life and Frazier Essay

In Ian Frazier’s essay, â€Å"In Praise of Margins†, the author talks about his childhood life and how he had â€Å"margins† where he and his friends would do things and nothing would matter because they wouldn’t care. â€Å"Marginal† thought is valuable because it allows adults to use their imagination. His purpose is to try new activities without shame; it’s the spur of the moment that defines margin. I think his view about marginal activity is comprehensive and relatable. When we think of margins, we think of the extra space on the edge of the paper that we can’t write out of. But marginal has another meaning to it which has to do with the economic world and how we function with margins in our life such as personal experiences. Marginal space is key to the coming of age process in each person’s life whether we share the same activities or not. Although it’s not easy to pin point it out but marginal spaces are needed to escape from everyone’s present problem in everyday life. I agree and believe with Frazier when he is talking about the meaning of marginal because it is true that margins sometimes do not come out the way you want it to be, nothing or nobody is perfect and there are always something ruining the perfect moment that we all have or want. Marginal act take such a high valued meaning according to Frazier because the places and activities that he discovered through his childhood is something that has been lost in the past and also in many societies, especially the economic society. According to Frazier, he added, â€Å"†¦the margin is where you can try out ideas that you might be afraid to admit to with people looking on. † (7) This is an important concept to anyone’s life. One person’s marginal space can different from another person’s as long as it is an activity in which the person escapes from reality. In an economic society, time is considered money and Frazier’s activity of sitting on a tree for hours is more on the lines of suicidal, in economic society’s terms. Frazier agreed that he felt useless at the time of just sitting but as he grew older, the useless time of gazing off turned into something sacred towards him. The sitting in the tree gave him memories and something to reflect back on. It came upon me when I took my nephews out to the ice rink at the Christmas in the Park; I realized if I never done this I would have missed out on what defined me as of today. Though it’s all fun and games I know that it’s one of the activities you can do once in a while that can take you away from your stress and busy day life-style. Reflection cannot happen when there is nothing to look back on. There are always memories that others have whether it be good or bad. It might be their first time driving or their first time swimming. Any memory is something someone can reflect back onto to see who they are and to see how they got to the place they are now. The economic society always keeps moving on and thinks about the future, while human beings need time to focus and reminisce from where they came from. If someone keeps running straight with their heads down, they might get far but eventually, they will get lost. In order to stay on track and know where you’re heading, at times the person needs to look back to see where they started from. Know where you are is the most important thing to knowing who you are and Frazier realized the great importance of that. Frazier’s useless â€Å"marginal† activity such as just plainly sitting brought out the importance of just doing things not to gain a profit but to gain something to reflect on. When Frazier was younger, he had his own marginal place and would always go out to â€Å"the woods†; it was his â€Å"part-time address, destination, purpose, and excuse† (1). While Frazier ran around bumping into bushes and branches, slipping and sliding through thick brown dirt; I was ice skating at the ice arena, hop-scotching, and playing house. Throughout my childhood, I dedicated numerous hours in the freezing cold ice arena at the local mall, hop-scotched afterschool with my neighbors, and played house on the weekends with my cousins. These activities may sound typical as a child but it had a significant meaning towards me. It was my purpose to grow upon these marginal experiences. In the end, all that matters is being able to free your mind from something that you free yourself from caring about what others think. And I believe that I accomplish my marginal activity as a child, through every fall and bruises that I received while ice skating, I couldn’t care less about what others had to say about me because I knew that every time I got up it’ll only make me a better skater in the end. Although changes occurred and I grew out of the marginal acts, agreeing with Frazier’s realization, â€Å"†¦and suddenly there was nothing up there for us. † (4) The excitement of skating on the slipping cold ice with no shame of failing can only be done as a marginal act, because I can no longer look at the rink the same way I did when I was younger. Nor can I play hop-scotch the way I did, hopping from one box to another is like going from one class to another today. Instead of playing house with my cousins, we became college students looking for a stable job that can support our education. I agree with Frazier that the â€Å"remember whens† really does faltered and â€Å"playing† time doesn’t have to end here. Although margins can be done differently and looked at differently, marginal is necessary for a person of all ages to let loose in order to overcome the pressure and stresses of everyday life. Frazier’s marginal activities consisted of breaking ice, climbing trees, and picking fruits. My marginal activities consisted of ice skating, hop-scotching, and playing house. Marginal activities may vary from being active in a sport, traveling, singing or perhaps even enjoying a movie night on the couch; by the end of the day marginal activities is necessary in order to free yourself from the strains of everyday life.