Research question vs. Hypothesis Essay

Does your study take an experimental approach to answer questions? Are you making a prediction about the phenomenon being studied? If your answer to these questions is ‘yes’, then you will need a hypothesis, but if it is ‘no’ then you will need a research question. This is because a hypothesis is a statement that is tested by experiment(s) to confirm or deny the phenomenon Turning now to a research question, if you are incorporating a research question rather than a hypothesis, then remember that some of the important features of a good question are that the question or problem should be: about one issue; clear and concise; addresses an important, controversial and/or an unresolved issue; feasible to undertake within a specified timeframe; adequately resourced. Hypothesis (plural = hypotheses) A hypothesis is not a question, but rather it is a statement about the relationship between two or more variables. So, for example, the first question above could become a hypothesis by making this a statement rather than a question, namely: The perceived needs of the patient and users of South Bedfordshire’s palliative care services are being met. To be complete a hypothesis must include three components: The variables The population The relationship between the variables As you can see, the hypothesis translates the research question into a prediction of expected outcomes. A hypothesis is the tool of quantitative studies, and is only found in such  studies. In fact, a hypothesis is usually only found in experimental quantitative research studies. You will be able to find out more about hypothesese when we look at them in more detail later in the session. Research question. A research question is the question that the research project sets out to answer. In actual fact, a research study may set out to answer several questions. The methodology used for that study, and the tools used to conduct the research, all depend upon the research questions being asked. For example, in the example of a qualitative research study, the following two research questions that underpin the study, and also needed to be answered by the study, are shown in the box below. There are two research questions that will need to be answered by this phase of the research. These are:  · ‘Are the perceived needs of the patients and users of South Bedfordshire’s palliative care services bei ng met?’  · ‘If not, what needs to be done if these needs are to be met in the future?’ The first question can be answered by a quantitative study, whereas the second one may require a qualitative study to answer it. Research questions can therefore be used in quantitative and qualitative research studies.

Critically evaluate the advantages and disadvantages of England being a mixed economy rather than a pure command or completely free-market.

Abstract: Different economies of the world choose one of the three economic systems: command economy, free market economy, and mixed economy to suit their needs and aims most appropriately. While each of these economic systems have their own advantages and disadvantages, most of the economies of the world are currently mixed economies. The command economy system has become substantially outdated as most economies, such as China and the Soviet Union, are transitioning into mixed economic systems. This paper discusses the advantages and disadvantages of each of the economic systems and particularly focuses upon the advantages and disadvantages that England has of being a mixed economy rather than a free market economy or a command economy. The paper sheds light upon issues such as unemployment, medical care, transport, and the increasing rate of immigrants that the country currently has to face. Introduction: Countries around the globe adopt various economic systems which suit their own circumstances or which their governments feel would be most appropriate to promote prosperity in the country. The economic systems of countries also evolve over time and may change from one particular system to another when the government, economic advisors of the country, and the public deem appropriate. There are three main types of economic systems which include the free market economy, the command economy, and the mixed economy (Ostrom, 2010). While most of the countries in the world are mixed economies, there are examples of countries which are closer to being free market economies or command economies. As with other economic concepts, each of the economic systems mentioned have their own respective advantages and disadvantages (Ostrom, 2010). Accordingly, governments and economic advisors devise economic policies which classify the economy into the categories of one of the three types of economic sys tems. However, governments may change these policies and may also change the economic systems adopted in a country when they feel it is required, although this process may take a long period of time (Ostrom, 2010). This paper will aim to explain the three types of economic systems and their advantages and disadvantages and then commence with a critical evaluation of the advantages and disadvantages of England being a mixed economy rather than a complete free market economy or a pure command economy. The paper will begin with an explanation of the free market economy and the advantages and disadvantages of the free market economy, followed by the command economy and the advantages and disadvantages of the command economy. The paper will continue with an explanation of the mixed economy and the advantages and disadvantages of the mixed economy and the application of these concepts to the economy of England. The paper will then critically evaluate the advantages and disadvantages of En gland being a mixed economy and conclude with a summary of the main points mentioned and recommendations for improvements in economic policy for the country. Free Market Economy: The free market economy is an economic system which is purely driven by the market forces of demand and supply and the price mechanism. Thus, in the free market economy, those goods and services which are in high demand are produced and supplied and those that consumers are not willing to pay a high price for are not produced or supplied. The free market economy promotes the privatization of all industries as all resources are owned by private individuals in a free market economy and there is little or no government intervention (Polak, 2013). The government does not nationalize any industries and does not interfere in the production of goods or services. The free market economy is also known as the â€Å"laissez’faire† economy and producers operate upon the profit motive as the economy is in a state of pure competition (Baylis, Smith, & Owens, 2013). The advantages of a free market economy include that consumers are provided with a variety of products at potentially lo w prices as there are many producers competing for market share. Consumers are also likely to benefit from high quality products as producers would be competing with one another on the basis of factors such as quality and price. Consumers would also benefit from additional advantages such as convenience, variety, and availability of choice. Also, consumers would easily be able to find the products which they are demanding as the market would be operating according to the price mechanism (Polak, 2013). There would be higher investment in research and development and more chances of larger technological breakthroughs as firms would be competing to gain a competitive advantage in the design of their products /services and/or gaining a cost advantage in their production processes. The free market economy may also mean higher productivity levels, higher wages, and more work opportunities for individuals. This is because the economy would be in a state of rigorous competition, making room for more workers to gain higher incomes as businesses would also be competing to recruit the most talented and skilled workers. An economy may prosper and increase its GDP when operating upon a free market economy system, yet it is often considered that the disadvantages of a free market economy system outnumber its advantages (Bremmer, 2010). The disadvantages of a free market economy system include the fact that there is likely to be a high level of inequality in the distribution of income as the rich would be likely to get richer and the poor would be likely to get poorer. Additionally, as there would be no or little government intervention, the public would not be provided with benefits such as welfare schemes, pension schemes, and may not even be provided with fair pay according to the cost of living. Problems such as inflation and the occurrence of monopolies would also not be prevented by the government as the government would have no major role in the economy. There may be wastage of resources as the economy would be in a state of pure competition and expenditure would be incurred on activities such as advertising, marketing, and continuous innovation of products/services (Coates, 2014). Essential services would not be provided to the public such as free medical care, police and army services, and education (Robertson, 2013). De-merit goods such as drugs, alcohol, cigarettes, and other products would be produced without interference or control from public authorities. Public goods which are not produced for a profit but are produced because they are necessary such as street lighting, water, roads, and other such products/services are either priced very high or not produced at all. Accordingly, a free market economy may be beneficial for the rich but may be highly detrimental for the poor. There is no example of a complete free market economy in the world but the USA comes closest to the definition of a free market or capitalist economy. This is becaus e the USA has approximately 30% government spending in its GD, one of the lowest figures in the world, with 70% expenditure incurred by the private sector (Coates, 2014). A pure command economy is the opposite of a free market economy and will be explained in the next section of this paper. Command/Planned Economy: A planned or command economy is the opposite of a free market economy and is an economic system which is completely controlled by the government. In a planned economy, most or all resources are owned by the government and the government decides what is produced in the economy and the price charged for the products/services. Consumers have little or no say in what is produced and all industries are nationalized. A planned economy also sets out the wages of workers and may also impose quotas upon the number of goods purchased by a single household. Command or planned economies are sometimes imposed by governments in order to maintain control and to attempt to make better use of resources. However, the command or planned economy has not been a highly feasible system to adopt in the current economic environment, resulting in countries, such as China and Russia, to have to evolve or change their economic systems (Hummel & Stringham, 2010). The advantages associated with a planned economy include a reduction in the wastage of resources and a more equal distribution of income between people of that country. Moreover, the population would be provided with services such as education, roads, water, medical care, and other facilities upon the government’s budget. Governments often wish to adopt this system in order to prevent riots or unrest in the country as most of the people in the country would be at the same social level and would not feel that the system is unjust. Therefore, it allows the government to have more control on the economy and control economic problems such as inflation, deflation, unemployment, poverty, and other similar issues (Calomoris, Fisman, & Wang, 2010). There are many disadvantages associated with a command economy which include the inefficient allocation of resources as resources are not allocated according to the price mechanism. Thus, resources may be wasted in producing things that consumers may not want. Likewise, producers and wor kers do not have any incentive to work hard as they are not allowed to own wealth and are simply working for the government which would stunt the prosperity and progress of that country. Consumers would also have little choice or variety and would also have lower standards of living as they would have a lack of products/services to choose from. Additionally, it is difficult for the government to provide all goods and services efficiently themselves and this may mean that the provision of some important goods/services may be prevented or may be provided inconveniently. Countries with planned economies may suffer in global trade and other such factors as they would not be able to motivate their citizens to exert their best efforts into production and trade without giving them personal incentives. Thus, this also causes a lack of foreign investment and a high tax rate for the provision of government-funded services. Also, it is difficult to determine how the government would decide wha t should be produced in the economy and how they can easily anticipate consumer demand (Warner, 2011). Accordingly, the planned economic system has become outdated as previous communist or planned economies such as China, Russia, and even Sweden are now in transition towards a more mixed economic system which will be explained in the next section of this paper. Mixed Economy: The mixed economic system is a combination of the free market economy and the planned economy as this system has both a public sector and a private sector. As mentioned before, most of the countries of the world are mixed economies as they have a public sector and a private sector. The mixed economy allows the government to intervene to provide essential goods and services such as police, medical care, education, welfare and pension schemes, and other similar services while the private sector is free to produce goods and services as well (Castells, 2011). However, the government will intervene where needed and prevent the production of de-merit goods and prevent producers from charging unfair prices amongst other things. Consumers receive the benefit of variety and choice in goods and services and are given an incentive to work hard while they are also facilitated by the government in the form of free goods (public goods) and services (Meyer, 2011). The mixed economy combines the adv antage of the free market economy and the planned economy and also shares some of the disadvantages of both respective economies. England is a mixed economy and thus benefits from the advantages associated with not being a complete free market economy or a pure command economy, but also suffers from a few of the disadvantages of not being either of these economies (Meyer, 2011). England’s Economic System: England, while previously being one of the strongest economies in the world, is currently plagued with several economic problems, which have slightly weakened its economic system. Being a mixed economy, England’s government spends about 40% of its GDP upon government spending while the remaining 60% belongs to the country’s private sector. The 40% of government spending is 10% more than what is spent in the USA as a percentage of GDP (Cleaver, 2013). This is because England’s government spends a larger proportion of its tax revenue upon the provision of more comprehensive health services, unemployment, and welfare schemes for the poor, and the transport system of the United Kingdom (Castells, 2011). The country is benefitting substantially by not being closer to a pure free market economy as the government of the country plays a vital role in stabilizing several economic aspects of the country. First of all, the unemployment rate of England is increasing rapidly, which means that it is essential for the government to provide support for the unemployed. If the government had little or no role to play in the economy, the unemployment rate may have even been higher and the number of people that were currently out of jobs may have been out on the roads without provision of basic facilities (Gillespie, 2011).Moreover, as the country is currently in a state of recession, without government intervention, the living standards of people would have decreased substantially, putting the economy in further turmoil and in a possibly irreversible situation (Gillespie, 2011). England is also home to a large number of immigrants and students who form a large part of the GDP in the country annually. If the country had been a complete free market economy, the country was likely to be in a state of chaos as there would be no control upon the immigrants entering the country and there would be no provision of facilities for these immigrants and students which wo uld further burden the country with increasing crime rates, further unemployment, and increasing numbers of homeless people filling the streets. Besides, with increasing numbers of immigrants and an increasing unemployment rate in the local population, the country is also benefitting from government spending upon free health services which keep the citizens and visitors of the country under high quality healthcare and helps prevent the spread of dangerous diseases from people who cannot afford expensive medical treatment. The implications of this control imposed by the government include a better and fairer distribution of income along with the provision of unemployment benefits, free education, pension and welfare schemes, and high quality healthcare for all people alike (Cleaver, 2013). Furthermore, another essential part of the government’s role in the economy includes the transport system which is subsidized for students, senior citizens, and people with lower incomes. Th us, the government is responsible for the provision of essential public goods and services which are needed to promote the welfare of the citizens of England and make them a prosperous economy (Bohstedht, 2010). Conversely, the disadvantages associated with England being a mixed economy rather than a free market economy include the fact that some services may be provided more efficiently by the private sector including healthcare, as the National Health Service is taking up a substantial part of taxpayer’s money and the standards of the service are also slightly deteriorating resulting in long waiting lists for patients who require treatment. Moreover, if the government privatized several more industries and promoted an environment of pure competition, it may result in the creation of additional jobs and help decrease the unemployment rate. Additionally, increased consumer spending and investment may also attract further foreign direct investment into the country and help bri ng the country out of its current recessionary state as England’s foreign direct investment rate has decreased over the years and UK’s own companies have increased their investment in other emerging markets. The public has also been highly verbal and rebellious regarding the increasing tax rate in the country which would have been non-existent had the country been a free market economy (Cleaver, 2013). On the other hand, while there are advantages and disadvantages associated with the country being a mixed economy rather than a free market economy, there are also advantages and disadvantages associated with the country not being a pure command economy. The advantage that England has of not being a pure command economy is that it has been able to motivate its population to work hard and become a progressive state as workers are allowed to accumulate wealth instead of limiting the growth of its citizens and nationalizing all its industries. While there is some inefficien cy in the allocation of resources, the country’s private sector does operate upon the price mechanism thus allowing the efficient allocation of resources according to the market forces of demand and supply (Boaden, 2010). England has also been able to encourage high amounts of foreign direct investment and the immigration of skilled labour which would not have been possible if the country had been a pure command economy. Consumers are also provided with a variety of high quality goods and services which has increased the country’s standard of living and has also enabled it to be an active participant in global trade (Boaden, 2010). Yet, there are certain disadvantages that the country has of not being a pure command economy and being a mixed economy which include the unequal distribution of wealth amongst its citizens which is causing increasing unrest. Moreover, there is ample wastage of resources in the economy because of increasing competition between firms and the country is suffering from several scandals in the realms of corporate social responsibility, quality, unfair pricing, and other problems in its private sector (Bohstedht, 2010).The country has also had to face immense problems because of the large number of immigrants entering the country each year and if the country had been a pure command economy, it would have not had so many potential immigrants to deal with (Boaden, 2010). Conclusion: England is best suited to be a mixed economy like most of the other economies of the world as this economic system enables the economy to combine the advantages of both the complete free market economy and the pure command economy. Additionally, while the country is progressing in the private sector, government intervention is essential for the provision of necessary public goods and services, without which the economy would substantially deteriorate the conditions of the poor. However, while the country has nationalized many of its essential services, the country should consider allowing privatization in the healthcare industry as the burden of taxes to pay for the NHS is increasing while the quality of the service provided by the NHS is deteriorating. Moreover, this is an essential industry which cannot be plagued with delays as is currently happening with the NHS. Thus, being a mixed economy, England should slightly further reduce its government spending to allow the private secto r to benefit further while the government can exert legal control over the activities of firms in the private sector. Furthermore, the government must encourage private industries to increase employment, incomes, and consumer spending, and thus lead to a higher GDP and a more progressive nation. The country would also easily be able to pull itself out of its current recessionary state and reduce the tax burden on its citizens. References Baylis, J., Smith, S., & Owens, P. (Eds.). (2013). The globalization of world politics: An introduction to international relations. Oxford University Press. Boaden, N. (2010). Urban policy-making: influences on county boroughs in England and Wales. Cambridge University Press. Bohstedt, J. (2010). The Politics of Provisions: Food Riots, Moral Economy, and Market Transition in England, C. 1550-1850. Ashgate Publishing, Ltd.. Bremmer, I. (2010). â€Å"The end of the free market: who wins the war between states and corporations?.† European View. Vol. 9(2) pp. 249-252. Calomiris, C. W., Fisman, R., & Wang, Y. (2010). â€Å"Profiting from government stakes in a command economy: Evidence from Chinese asset sales.† Journal of Financial Economics. Vol. 96(3) pp.399-412. Castells, M. (2011). The power of identity: The information age: Economy, society, and culture (Vol. 2). John Wiley & Sons. Cleaver, T. (2013). Understanding the world economy. Routledge. Coates, D. (2014). â€Å"The UK: Less a liberal market economy, more a post-imperial one.† Capital & Class. Vol. 38(1) pp.171-182. Gillespie, A. (2011). Foundations of economics. Oxford University Press. Hummel, J. R., & Stringham, E. P. (2010). â€Å"If a Pure Market econoMy Is so Good, Why doesn’t It exIstthe Importance of changing Preferences versus Incentives in social change.† Quarterly Journal of Austrian Economics. Vol.13 pp.31-52. Meyer, M. W. (2011). â€Å"Is it capitalism?.† Management and Organization Review, Vol.7 (1) pp.5-18. Ostrom, E. (2010). â€Å"Beyond markets and states: polycentric governance of complex economic systems.† The American Economic Review. pp. 641-672. Polak, J. J. (2013). An international economic system (Vol. 7). Routledge. Robertson, P. E. (2013). Does a Free Market Economy Make Australia More Or Less Secure in a Globalised World?. University of Western Australia, Business School, Economics. Warner, M. (2011). â€Å"Labour markets in China: Coming to terms with globalization.† The dynamics of Asian labour markets: Balancing control and flexibility. New York, NY, Routledge. pp. 134-147.

Cultural Autobiography Essay

Cultural Biography: How My Roots Shape My Identity It is often said that we should not let a single feature of ourselves define who we are. For example, a basketball should not only be an athlete, but must also value her roles as a sister, a daughter, a student, and anything else that gives her life meaning. A doctor should not only focus on his identity in the medical field but also his place in his neighborhood, his church, and, of course, his family. Otherwise, he would be considered the workaholic. In many cases, though, it is very easy to do. People’s identities are made up of all the roles they play in their lives. Defining oneself or someone else in only way is not healthy because it does not consider the full complexity the person. Thinking of ourselves in a limited way, such as if I considered myself only a student but did not consider my roles as a friend to others and a family member, could lead to shallow thinking. Thinking of others in such a way can result in stereotyping and even discrimination, such as if someo ne thinks she knows all she that needs to know about someone based on his religious beliefs. Nonetheless, not all aspects of our identities contribute equally to the whole. Certain elements of our environment and background help to shape us fundamentally. They seem to serve as a base for everything else that we would learn, do, and become. I think everyone has one or two areas of that nature. For me, I think that one of the most defining traits about me is the culture I came from, which is Mainland Chinese. Although I keep an open mind and try to learn new ways of looking at the world, the beliefs of my upbringing often are dominant. If you asked me to describe who I am at my core, I would probably say that I am a Chinese woman. Culture, of course, comes from the people around us. As I see it, my family, including a large extended family, has been the most influential community in shaping who I am today, because they passed on their culture to me. Often we do not realize what is our culture until we leave it. I can remember when I first arrived in America and stayed for a short time with a host family. They had a daughter who was 10 years old. She had a little cold at the time. She drank cold orange juice. I was so shocked that her mother allowed her to drink it. In my family, we feel that cold drinks are not good for sick people and that they can hurt the stomach. Many people in China think this way. I could almost hear my own mother’s voice in my head, scolding her disapproving of the cold drink. She and her sisters could never accept this. After hearing this idea for so many years, I, too, was starting to have the same reaction. When people have flu or cold, in China the appropriate drink is thought to be hot water. I suggested to the girl’s mother that she should drink warm water. They both suddenly got a disgust look on their faces. They said orange juice would be better because it has a lot of vitamin C to fight the germs. This was one of my first lessons in culture, both Am erican and my own. For my part, I still do not like to have very cold drinks. However, I do not make any suggestion about what other people should drink. In explaining how my family has influenced me, I should discuss some basic elements about Chinese culture. It is collectivist culture, not individual culture like America. That means that Mainland Chinese society tends to see the group as being more important than the person. The question then is who is the group. Based on stereotypical Western movies or shows, it would be easy to assume that nearly all Chinese act and look alike and that they would see themselves as one group. In fact, this is not true at all. Chinese people think in much smaller terms, most typically, and would see their immediate family, including elders such as parents and grandparents, as their group. In some sense, they would also consider old friends and former and current co-workers to be part of their group. It is not so common in Mainland China to make many new friends as adulthood. People in China depend on these tight networks to help them in hard times, and they have to be ready to repay the favor at som e point in the future. Tight informal networks are very important for getting by in life in China. Chinese culture value family piety. It means we believe in a strong obligation to respect and honor our family members. I would always try my  best to take care of my parents and also older relatives such as grandparents, aunts, and uncles. In a broad sense, family members, because all consider themselves a close group, would do almost anything to help each other. As is said in English, they would take the shirt from his or her own back to give to the other person. This kind of thinking is based on Confucianism, where taking care of the family is considered to be the highest value. Unfortunately, a related matter is that sometimes in Mainland China, people are not as quick to get involved when a stranger needs help, and some people without integrity are quick to take advantage of strangers and cheat them. We also do not have as much public volunteer and charity culture, as many people would feel guilty if they spend their money on people who are outside their own family. The concept of taking care of the family is so important to culture that it is sometimes humorous to other people from other countries. I once was at dinner in a group that included both American and international students. Some people were talking about what they would do if they won the lottery. A Chinese boy said he guessed that if he won, he would soon get married, and have a child. His friend, another boy from China, commented that the money would not only last for the lifetime for him and his son, but also for generations into the future. The American boys at the table laughed at the Chinese boys’ ideas. They thought they should use the money for their own fun, and would not like to get married. However, the Chinese students were looking from Chinese point of view, where not only the individual but the entire family name and bloodline is considered. They see a responsibility to their ancestors and to future bloodline that they should have a child. Personally, I like the viewpoint of thinking about multiple generations and not only focusing on the present. I have always been raised by my family to hold this point of view. Without a network of family and close friends, it is hard to survive in China, especially during hard times several decades ago. It is not so easy to get credit, so people rely on their networks to help them make a down payment for a house. Many people lack health insurance, and so if they needed and expensive surgery, they could perhaps ask their closest family and associates for help with money. Furthermore, in hospital, it is not like in America where nurses feed and bathe the  patients. In China, patients’ family members must help with those chores, and nurses usually would not help. As a result of these factors, Chinese people spend a lot of time cultivating their networks by choosing the right gifts on holidays, offering a helping hand when possible, and asking for help when needed. It is fair t o say that in China, if you do not have close connections in your life, including family members, friends, coworkers, then it is almost like you do not exist, according to society’s point of view. On the other hand, if you do have a family, then you feel much more secure and happy. You also get a large amount of your own identity from the group rather from your individual situation. It is important to behave well in society and try to be successful not only for your own sake, but also in order to create a good name for your family. Therefore I think that sometimes even if I do not feel like studying sometimes, I push myself to do so anyway, because if I came to America and did not perfect well in university, then I would create a bad impression on my family, including parents and extended relatives, as well. In fact, Chinese people from Mainland often do not like to spend time alone or to be in secluded places. We tend to like crowds and a lot of excitement and perceive them as safer because it would be harder for criminals to get away with serious crime amid a crowd. I felt strongly this way when I first arrived in America, but now I am getting used to peace and quiet. I have heard that Americans often like to go camping or fishing in order to get away from other people. This concept is a little different from China. I remember showing my mother a picture of our campus and she wanted to know why it looked so lonely. Later I took a photo when more students were out walking, and she seemed to feel much more comforted that I was in a safe place. On the other hand, some Americans have told me they think crowds are more dangerous, because it is easier for thieves to pick pockets or commit other crimes. My immediate and extended family has always been a source of much emotional support for me. My mother has several siblings and they each have children, so I have many aunts, uncles, and cousins. They always ask what I am doing in my life and they give me suggestions. They are not afraid to criticize me  if they feel it is warranted, such as for eating too much junk foods or not studying hard enough. In Chinese culture, these comments would never be taken as offense but instead in a spirit of caring. I always spend much time finding appropriate Chinese New Year gifts for my aunts and uncles as a show of respect. Sometimes the gifts could be as simple as fruit baskets, chocolates, or cake. I just want to show them that I am thinking of them. My family, including parents, aunts, uncles, and cousins, serves as my home base on life. I have always felt that no matter what happened, there is a safe haven with many people who always cared about me. Much of Chinese family culture is expressed over food. If I go to visit one of my aunts and she knew I am coming, then it is sure that she will prepare my favorite noodle dish. Caring is often expressed with food. From my mother and father and several of their siblings and my grandparents, I learned to cook many dishes at a young. I learned mostly at quite a young age. In this way, too, my family has been the biggest influence on my life, as now I cook almost every day and can take care of myself. I do not need to depend on others to cook and I do not have to go to restaurants except for fun. Over meals, much culture gets passed to children as adults talk about what is going on in their lives and how they handle it. They often give advice to children, but it seems to be that there is not as much two-way communications culture as in America and other Western countries. In other words, adults would not often ask children what they think about things. I am sure that I am not the only person who feels that family has been the largest influence in life, and certainly not the only Chinese person with this idea. In fact, when we are away from our families, we try to recreate the experience in some ways. In UC, there are many Chinese students all in the same situation, living away from their home country. We have formed friend groups and often cook together, go to restaurants, or go to other activities. At times, groups of students even go on vacation to New York or Chicago or other locations. As it is in China, most social activities for us here have revolved around eating food. We often chat, give each other advice, and try to help each other to study and make good grades. As vitamin and other health supplements are very popular, we often discuss products  that we have tried or plan to try. Everyone has similar goals and we almost do not even need to say them out loud, because they are widely known. We all come from similar kinds o f families, usually involved in business. Everyone wants to make good grades, be successful, and make their parents happy. My friends are a very important group to me here, but in my overall life, I guess they are not nearly as influential to me as my relatives are. Chinese families were large for many years, sometimes with seven to 10 children. I know that my great grandmother came from a very large family. However, because of overpopulation, China has implemented the one-child policy. Although there are exceptions, the general rule is that only one child is allowed per couple. Now China is becoming a land of spoiled only-children. I often wonder what will happen to China’s family culture and if culture and knowledge will be passed down as efficiently. Many people grow up without uncles, aunts, cousins or, of course, siblings. This seems to be a significant social issue for a country whose character is still collectivist. Perhaps China will make the shift rather quickly to a culture of individualism. Or perhaps they will express collectivism in some other different formats, such as neighborhood groups and volunteer societies. At any rate, eventually rising population of people without close relatives to watch after them as they age will mean a need for more caregiving and health care professionals. There are many aspects that define my life, including my status as a student, family member, and friend. While these are important roles, they do not capture everything about who I am. One element that runs deeper than those items is my culture, most of which I received from relatives. I grew up in China until coming to school at UC. My thinking has certainly been influenced by the time I have spent living abroad, but it nonetheless does continue to be Chinese at the heart. In a Chinese family, your family is almost literally all that you have to depend on in many cases. I am quite thankful that I have a wonderful family.

Integrated Logistics Core Process Redesign Case Study

Integrated Logistics Core Process Redesign - Case Study Example Siemens ROLM management was willing to benchmark its processes with other Giant corporations. They aimed at restructuring the whole company. This was a difficult project since it involved radical changes. The management awareness was a critical enabler to ensure that the re-engineering process was a success. This awareness was a process from the beginning of the project to when the company began to yield substantial profits. The process begins when the management recognizes the need to adopt the change to improve the operations of the enterprise. At his time the management knowledge and understanding is minimal. With time the management understanding shifts to another level where they understand the business process idea and how they can effectively adapt and bring change within the company. After the management has adopted the process, they clearly identify the company’s vision and then have a different view of the processes not as a project but a way to run the business (Sto ddard and Jarvenpaa, 1995). According to the case, the integrated logistics core process-reengineering program instigated in August 1992. This logistic was viewed as a cycle from the initiation until when the equipment was operational. The customer focus is another important enabler that Siemens ROLM focused on. At the beginning of the re-engineering process, the employees are uncertain of how to meet the customer needs. This is due to the change of products they are offering to their customers this tends to be difficult to determine the needs of new customers in the market. The employees also realize their aim top deliver extraordinary products and also realize that customers demand uniform excellence in the product quality. They later build up a relationship with the trading partners to meet the needs of the final customers. According to the case, ROLM had the reputation on focusing on its customers at whatever cost.

Mobile Data and Telecommunications Research Paper

Mobile Data and Telecommunications - Research Paper Example The rise of social media platforms, increase in mobile applications, and availability of applications that support the storage and transmission of huge data fosters mobile data and telecommunications. The modern mobile data and telecommunications industry in the global market encompasses variant versions of computers and cell phones that depict different applications that support the transfer of huge mobile data. The modern mobile data services include e-mail, internet, data cards, USB modems, WI-FI, Bluetooth, messaging, video conferencing, and taking pictures (RTR, 2014). This industry supports the increased use of smartphones, iPad, iPods, iPhones, and other technologies that support mobile data transfer (IBM, 2014). The mobile data and telecommunications industry offers various products and services that enhance communication, transfer of information, socialization, and entertainment. Although teenagers and young adults are the most prominent users of mobile data and telecommunic ations, the impact of this industry cuts across all generations and all sectors. Notably, the mobile data and telecommunications industry is becoming more popular in the global market subject to its diverse applications. The United States stands out as the most technologically advanced country in the world in terms of the number of mobile phone lines, number of smartphones, number of mobile phone users, number of radio and television stations, number of ocean cables, and the variety of satellite facilities. The history of mobile data and telecommunications industry dates back from the 1980s. Since its introduction in the early 1980s, the underlying mobile technology passed through three phases, known as generations to the current mobile data and telecommunications. The first generation adopted analog communication techniques, which depicts the use of (1G) phones (Cambridge University Press, n.y).

Coca-Colas New Vending Machine Case Study Example | Topics and Well Written Essays - 250 words

Coca-Colas New Vending Machine - Case Study Example I would recommend Coca-Cola to follow "price discrimination" strategy in such cases as: (1) different customer groups (lower prices for students and higher prices for business organizations); and (2) when a customer buys high quantities of a product. Pricing is a sensitive and complex decision area affecting sales, costs, and profits for both industrial and consumer goods. For consumers, price reductions and increases have symbolic meanings. A customer may associate a price reduction with a reduction in quality, the anticipation of new models, or even lower prices or poor market acceptance. Higher prices may indicate better quality, a good image, and good value (Das Narayandas 2000). Price discrimination is effective tool when it is applied to each individual consumer. For instance, if a buyer is willing to pay more for a product and receive exceptional quality, he/she should pay more. The second situation when Coca-Cola can follow price discrimination is when a customer buys products in large quantities. For instance, price reductions can be proposed to repeat customers and loyal customers. The third case when "price discrimination" is justified is when the company serves different customer groups.

Theoretical Framework Essay Example | Topics and Well Written Essays - 2250 words

Theoretical Framework - Essay Example The focus would be the fire tragedy in Australia which would be used as a case study to show the differences in the two forms of media. In doing this, the perspective of theorists have to be incorporated. Modern dynamic theorists have various issues awaiting their input in different disciplines. They cover cultural theory, philosophy, anthropology, sociology, history, technology studies, and science among many more. Impulses ignite the academicians to move issues in these disciplines in addition to the references beyond present problems that the dual form. Changes are also aimed at redirecting ways of thinking. The media as an industry has undergone transformations over the years. Bloggers are contemporary media personnel whose mode of information dissemination is conspicuously different from traditional media personalities. This is discussed into detail in the following discourse. In the following part, the theoretical framework that underlies the two forms of media will be discusse d. There are several theories that relate to the two forms of media. In essence, either conventional or new school media only acts as a way of disseminating information. Conventional media refers to all forms of media which entail broadcast as well as print media. ... There are cases of media trivializing reports which usually cause unsolicited reactions from the public. In the same way, new media has been in existence due to technological advancements which have taken place in recent years. For instance, the advent of the internet as a modern form of communication has brought with it endless opportunities. In this case, blogging has evolved as way of reporting information. One notable attribute about blogging is the fact that the bloggers are usually not so much accountable for whatever they put out to the public. This is unlike in traditional media where the media houses usually bear responsibility for everything that they put up for broadcast. Consequently, bloggers have a boundless freedom in which they express themselves. However, they also have some limits regarding what they report. Theme The discussion that follows delves into the two forms of media with a particular reference to how they contrast in reference to the Australian fire traged y. In addition, references would be made to theories which are related to media or reporting (Paterson & Domingo, 2008). The motive is to find out if the theories are true in view of what happens following media reporting. Background on the Australian fire The Australian fire was a tragedy that affected the lives of many. Of significant importance to the many humans who were affected at the time was the media coverage. During disasters like in the fire, most people turn to the media for information and updates. It is at the time that media owners have to practice professionalism and ethics in disseminating the information that they have. This should be observed because the media at the time is relied upon as the official communication channel. Responsible

What Holes Has The Financial Crisis Revealed In The G8 Will The G20 Essay

What Holes Has The Financial Crisis Revealed In The G8 Will The G20 Fill Such Holes - Essay Example World’s wealthiest country; America was the major sufferer of this crisis. In fact many people believe that America was responsible for stimulating recent global recession. The unhealthy lending habits of American banks and the crazy life styles of American public have given momentum to the recent financial crisis. G8 and G20 are two of the major coalitions in the world at present. G20 was proposed by former Canadian Prime Minister Paul Martin in 1999 to deal with international financial matters. Sustainable development is the major theme of G20. It is also interested in solving global energy crisis, economic problems, demographic problems etc. Australia, Canada, Saudi Arabia, United States, India, Russia, South Africa, Turkey, Argentina, Brazil, Mexico, France, Germany, Italy, United Kingdom, China, Indonesia, Japan, South Korea and European Union are the members of G20. On the other hand the Group of seven (G-7) comprises Canada, Germany, France, Italy, Japan, United Kingdom and United states. â€Å"The G7 is often referred to as G8 because Russia fully participated in all but financial and certain economic discussions of G7 since the 1998 Birmingham summit†. Before the formation of G7, G6 was formed in 1974 by world's major industrialized democracies such as United States, the United Kingdom, Italy, West Germany, Japan and France. In 1975 Canada joined G6 and it became G7. Russia joined G7 in 1997 to make it G8. Since, its formation G8 contributed heavily to global economy. Fratianni, et al (2005) pointed out that â€Å"The world without G8 would be more brutish and riskier than it is now† (p.4). The recent financial crisis has unveiled many of the loopholes in G8 functioning whereas G20 stood well to the challenges raised by the recession. It should be noted that G8 consists of mainly European and American countries whereas G20 consists of countries from Asia also. It is often said that global wealth is currently shifting from America a nd Europe to Asia at present. This is evident from the fact that most of the prominent Asian countries escaped from recession problems whereas American and European countries are still struggling for survival. In other words, G8 failed miserably in tackling recession problems whereas G20 managed these problems well, mainly because of the contributions of Asian countries. This paper analyses the loopholes in G8 in tackling recession problems and the ability of G20 in filling that loopholes. What holes has the financial crisis revealed in the G8? Even though G8 countries are believed to be the wealthiest countries in the world, recent financial crisis has unveiled the loopholes in the governance of these countries. According to Fratianni et al. (2007), â€Å"Today, the G8 leaders are dealing directly with central question of how to build better global governance in both public and private sphere† (p.23). As a result of globalization, privatization is taking place at rapid pace in most of the countries. Moreover, governments in G8 countries are privatizing many of the publicly owned companies to stay away from the responsibilities of servicing the people. It is a fact that private capital is essential for the economic growth of a country. However, uncontrolled private capital in critical sectors may bring more harm than good. India like emerging economies is allowing private participation cautiously even though they are following mixed economic policies. On the other hand, China does not allow private capital in critical sectors even though they are doing everything possible to encourage private capital on all other sectors. G8 countries on the other hand allowing private companies to invest at will in all major industrial

Issues in homeland security Essay Example | Topics and Well Written Essays - 250 words

Issues in homeland security - Essay Example The main reason why the evaluation exercise should have a broader social utility is that social and psychological factors play a major role in the organization’s scope duty. The society’s confidence in the security management is for instance essential to how people may respond to threats and even cooperate in mitigating involved risks from occurrence of a calamity. As a result, the leader evaluation should identify qualities that can psychologically influence confidence in the institution’s ability to undertake its mandate. Developing such confidence, even in the absence of a calamity, has the potential to promote management in events of risks occurrence (Lemyre, 2007). Evaluation of homeland security leader should also include a broader social utility because this establishes a sense of ownership of the homeland security’s mandate by the society, a fact that promotes cooperation. Identified and developed awareness of social utility factors among the agenc y’s leadership will therefore facilitate achievement of homeland security’s objectives (Sui, 2008). Lemyre, L. (2007). Psychosocial risk assessment and management for CBRN terrorism: A orime tool. Human Security Bulletin. Retrieved from:

Regression Analysis of Ipl Players Auction Essay Example for Free

Regression Analysis of Ipl Players Auction Essay Linear regression model has been developed using Backward variable selection method. The criterion used for Backward method is Probability of F-to-remove gt;= 0. 100 As seen from the above table in our model the ‘R Square’ value of is 0. 618 and ‘Adjusted R Square’ value is 0. 592. Team variable is removed Cricket in the T20 format is considered a young man’s sport, is there evidence that the player’s price is influenced by age? From our analysis we have seen that the price of a player is greater if the player is less than 25 years of age. Identify the predictor that has the highest impact on the price of players. Batting strike rate and bowling strike rate do not have significant impact on the pricing. This can be explained by very low R2 = 0. 014 for bowling strike rate and R2 = 0. 034 for batting strike rate. Bowling Strike Rate vs Sold Price Batting Strike Rate vs Sold Price The base price has the highest impact on Selling Price of the players. When compared to others, the base price has the highest R square value How much should Mumbai Indians offer Sachin Tendulkar if they would like to retain him? Is the model sufficient to predict the price of Icon players? According to model, the sold price of Sachin is 1800000 but fair value of Sachin Tendulkar is 1598610. 008 which minimum amount should be paid. Icon player should get 15% premium over second highest pay. But this factor is not considered in our analysis. Hence, our model can’t predict the value of icon players.

Concepts and Strategies of Brand Management

Concepts and Strategies of Brand Management ABSTRACT Branded products can be seen everywhere around us at all time, and is a way of communication for the buyer of the product. Brand management will play a more significant role in future marketing competition, so research on the brand management is likely to become more meaningful and interesting. Brand management can really create value like increasing more adaptability, uniqueness, recognition etc. All in all, brand management is significant and can add value to firms. The project discusses all about deciding and evaluating brand name. the logo and colour of the brand play an important role in attracting the consumers. Moreover after deciding the brand name, it is mandatory to register the name at trademark registration office. All this process is followed by launching or re-launching the new product or the recalled product respectively. Moreover companies have realised that the role of the company does not got over by mere launching the brand but they have to do continuous marketing to sustain in the competitive market. Over period of time, the value of product decline due to many factors and companies have to work on the revitalizing the brand image and thus leads to success of the product. The brand name is thus one of the most powerful sources of identity CHAPTER – 1 INTRODUCTION TO BRAND A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well. is a well said verse by Jeffrey Preston Bezos, the President, Chief Executive Officer and Chairman of the board of Amazon.com BRAND A brand is a name or trademark connected with a product or producer. Brands have become increasingly important components of culture and the economy, now being dscribed as cultural accessories and personal philosophies. According to the American Marketing Association (AMA), brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Technically speaking, whenever a marketer creates a new name, logo, or symbol for a new product or service, he or she has created a brand. Now the question still is not clear about what all brand is about so we can say that brand is a promise, brand is and associated image and everyone and everything is brand. A BRAND IS A PROMISE First and foremost, a brand is a promise. It says you know the name, you can trust the promise. As all promises, it is trusted only as far as those promises are met. Trust is a critical first step and brands aim to accelerate that step by leveraging the implied promise of the brand. A BRAND IS AN ASSOCIATED IMAGE Most brands have a logo which acts as a short-cut to remind us of the brand promise. The logo uses color, shape, letters and images to create a distinctive image that is designed both to catch our eye and to guide our thoughts in the right direction. The brand may also be associated with tunes, celebrities, catchphrases and so on. All parts of the brand image works as a psychological trigger or stimulus that causes an association to all other thoughts we have about the brand. EVERYTHING AND EVERYONE IS A BRAND If you get down to the detail, everything is a brand, because we build our understanding of the world by creating associations about everything. A tree has an implied promise of beauty and shade. Even words are brands. When I say speed, you will conjure up images of fast cars, etc. People are brands, too. When people see you, or even hear your name, they will recall the image they have of you, (which is something you can actively manage or let happen). In a company where people are visible to customers, such as a service business, the people are very much a part the brand. The brand name is thus one of the most powerful sources of identity. When a brand questions its identity, the best answer is therefore to thoroughly examine its name and so try to understand the reasoning behind its creation. In doing so, we can discover the brands intentions and programme. Many brands make every effort to acquit qualities which their brand name fails to reflect or simply excludes altogether. A name-like an identity-has to be managed. Certain names may have a double meaning. The purpose of communication then is to select one and drop the other. IMPORTANCE OF BRAND Branding is a very powerful component in buisness. The brand must have a logo to make branding easier and more possible. The consumers decide if they will buy a product or use a service based on how they view the brand. The brand itself tells us or let us imagine how good ir bad the product is even we never tasted it before. All that brand promotion and advertising really do tell us how great a brand can be (like Nike). Once the customer likes your brand he/she will definitely come back for the repeated services or pproducts. The qualities of the product or services are ensured through the mind of customers from the image of the brand. Therefore, Brand is not only convinient for buisness for repeated customer purchase but also easier for customers to filter out the countless generic items. Brand gives consumer the reason to buy it and wastes less time for customer to choose a particular product or service. TYPES OF BRAND There are two main types of brand – manufacturer brands and own-label brands. MANUFACTURER BRANDS Manufacturer brands are created by producers and bear their chosen brand name. The producer is responsible for marketing the brand. The brand is owned by the producer. By building their brand names, manufacturers can gain widespread distribution (for example by retailers who want to sell the brand) and build customer loyalty (think about the manufacturer brands that you feel loyal to). OWN LABEL BRANDS Own-label brands are created and owned by businesses that operate in the distribution channel – often referred to as distributors. Often these distributors are retailers, but not exclusively. Sometimes the retailers entire product range will be own-label. However, more often, the distributor will mix own-label and manufacturers brands. Own-label branding – if well carried out – can often offer the consumer excellent value for money and provide the distributor with additional bargaining power when it comes to negotiating prices and terms with manufacturer brands BRAND EQUITY Brand equity refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and strong product associations. Brand equity also includes other intangible assets such as patents, trademarks and channel relationships. The list below shows the worlds top 10 brands in 2002 (as measured by value): {Rank Brand Value ($ billions)} Coca-Cola..($69.6) Microsoft.($64.1) IBM($51.2) GE..($41.3) Intel.($30.9) Nokia.($30.0) Disney($29.3) McDonalds..($26.4) Marlboro..($24.2) Mercedes.($21.0) Source: Interbrand; JP Morgan Chase, 2002 CHAPTER 2 THE BRAND : SOURCE OF VALUE FOR THE CONSUMER The brand is a focal point for all the positive and negative impression created by buyer over time as he comes in contact with the brands product, distribution channel, personnel and communication. A brand continues to be, at least in the short term, a good example for quality even after the patent has expired. The life of patent is extented, thanks to brans, thus explaining the importance of branding in the pharmaceutical or the chemical industry. The brand performs an economic function in consumers mind and thus has a lasting and memorable effect on the companys activities. Legally a brand is simply a symbol which distinguishes a companys product and certifies its origin and thus obtains its value through registration and conformity. The value of brand comes from its ability to gain an exclusive, positive and prominent meaning in the minds of a large number of consumers. The tangible and intangible benefits which are derived from the consumption of a product of a brand are encapsulated in the strong brand. When a brand is created at first it is worth nothing. Over the time the logo acquires significance by means of advertising. Advertising are forgotten quickly whereas a brand stays in memory along with the implications which are attached to it by public. The brand is thus stocked in the mind of potential consumers. Hence, brand can be considered as an asset of the company. ADVANTAGES OF STRONG BRAND Greater perception of product or service performance. Greater marketing communication effectiveness Greater customer retention and loyalty More appreciative consumer response on price increase or decrease Has very high awareness Receives a lot of free publicity/buzz Is admired and has high purchase intent Enables the owner to charge a price premium Results in increased market share, especially for the target customers Provides increased bargaining power with business partners Provides a platform for growth beyond the current products and product categories Helps attract and retain talented employees Helps the management team align employees in support of the brands promise Often provides clarity for budgeting and capital investment decision Increases an organizations sales, profit margins, stock price and market valuation Larger margin Less vulnerability to competitive marketing action and marketing crisis Greater trade cooperation and support Possible licensing and franchising opportunities Greater brand extension opportunities ROLE OF BRAND IN PRODUCT CHARACTERIZATION The product can be characterized into three types : The qualities which are noticed by contact, before buying. Eg. Decision to buy a pair of socks. The choice is made according to the visible characteristics i.e the pattern, the style, the material, the feel, the elasticity and the price. The qualities which are noticed uniquely by experience, thus after buying. Eg. Automobile market. The performance, consumption and style can be assessed before buying the car but road-holding, the pleasure of driving, reliability and quality cannot be entirely appreciated through test drive. Credence qualities which cannot be verified even after consumption and which you have to take on trust. Eg. In the market for upmarket car, the feeling that we have made it, that certain feeling of fulfillment and personal success through buying and owing a BMW are typically the results of pure faith. Hence the role of brand is made clearer by this classification of sought-after qualities. The brand is a sign whose function is to disclose the hidden qualities of the product which are inaccessible to contact (sight, touch, hearing, smell) and possibly those which are accessible through experience but where the consumer does not want to take the risk of trying the product. As we can see, a brand provides not only a source of information but performs certain other functions which justify its attractiveness and its monetary return when it is valued by buyers. FUNCTIONS OF BRAND FOR CONSUMER The eight function of brand are presented in the table given below. The first two are mechanical and concern the essence of the brand i.e to function as a recognized symbol in order to facilitate choice and to gain time. The following three functions reduce the perceived risk. The last three have a more pleasurable side to them ethics show that the buyers are expecting, more and more, responsible behavior from their brands. FUNCTION CONSUMER BENEFIT Identification To be clearly seen, to make sense of the offer, to quickly identify the sought-after products. Practicality To allow saving of time and energy through identical repurchasing and loyalty. Guarantee To be sure of finding the same quality no matter where or when you buy the product or service. Optimization To be sure of buying the best product in its category, the best performer for the particular purpose. Characterization To have confirmation of your self-image or the image that you present to others. Continuity Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years. Hedonistic Satisfaction linked to the attractiveness of the brand, to its logo, to its communication. Ethical Satisfaction linked to the responsible behavior of the brand in its relationship with society. Table : The function of the brand for the consumer. Hence we can say that brand plays an important role in the company. The brand of a company is created by the company and its customers together. The company has to make clear through its brand the promise it makes to its customers, based on the strategies and vision for the future of its business and products. It is vital that the company fully comprehends exactly what the customers expect from the brand, and that it continually lives up to this expectations. The aim of brand management is to create a brand that will build this long-term relationship an unshakeable bond between the company and its customers. Brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity.1 These concepts and techniques are to improve the long-term profitability of the brand strategies. CHAPTER – 3 BRAND MANAGEMENT Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the products perceived value to the customer and thereby increase brand franchise and brand equity. Brand management is a dynamic and a continuous process that needs consistent investment of time and money. The boardroom must ensure that brand management is allocated a specific budget as it is much more than mere marketing communications. Due to the intangible nature of branding, the results may not accrue in a short period of time a it takes time and reinforcement to build customer loyalty. Brand management is all about the total approach says about defining the brand and control its management by the leaders of the company. Once the approach is finalised than create the promise by describing all about the product followed by making the promise by doing marketing of the product and inject the information about the product into the mind of consumer. Lastly it is important to keep the promise, what you have made during the marketing of the product. TOTAL APPROACH Brand management starts with understanding what brand really means. This starts with the leaders of the company who define the brand and control its management. It also reaches all the way down the company and especially to the people who interface with customers or who create the products which customers use. Brand management performed to its full extent means starting and ending the management of the whole company through the brand. It is simply far too important to leave to the marketing department. CREATING THE PROMISE Creating the promise means defining the brand. A good brand promise is memorable and desirable. It cannot be effective if nobody remembers it, and is no good either if nobody wants it. A good brand promise evokes feelings, because feelings drive actions. The promise must be unique and identified with you alone. The right promise comes through a deep understanding of the marketplace and the customers who are going to use the product. It also comes from a deep understanding of the capabilities and motivations of the people in the company. MAKING THE PROMISE Once the promise is created, the next step is to somehow inject it into the minds of the customers, the staff and everyone who receives anything from you or has any impact on what you deliver. This is where marketing people come into their own. Although it is still not their sole preserve, a large part of marketing, which includes advertising and PR, is about positioning the company and its products in the minds of customers and against your competitors. KEEPING THE PROMISE Creating and making the right promise is one thing, but then you have to keep it. If you do not, you brand will still exist, but now the promise will be of slipshod products and inconsistent delivery. Keeping promises means managing capability. It means consistent processes that are capable of delivering what is required. It means technology and systems which are reliable and usable. It means motivated people who are willing and able to deliver the goods. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products favourable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. Brand management includes the trademark registration of the brand, brand selection and evaluation, launching a brand sustaining a brand, brand extension. The trademark registration in India follows the trademark registration procedures and specific laws. CHAPTER – 4 BRAND SELECTION AND EVALUATION In the next five years, we will see a rapidly changing landscape across the globe, where the opportunities for businesses to benefit from corporate and product branding efforts will be larger than ever before. The growing emphasis on branding will move up the boardroom agenda and it is strongly believed that branding will become one of the most prominent drivers of value across the globe in the next two decades. Businesses with a sustainable business model and with a visionary and passionate CEO with branding talent will benefit from the rising opportunities for competing in the modern marketplace and potentially taking on the global scene. It needs to be no less than the CEO who embodies the branding efforts and serves as the companys and thereby the brands primary advocate and nurturer. The approach is particularly well suited to companies whose top executives have a passion and talent for brand strategy, but in tomorrows tough environment all top-executives must be able to represent and lead the brand. The top executives of world class companies are directly involved in leading the branding vision, strategy and implementation, and spend a significant amount of their work hours to drive their brands forward and to achieve even better results. Tomorrows CEO must be a brand champion who leads corporate and product branding strategies, all strategic brand-portfolio decisions and constantly monitors the implementation of the brand locally, regionally and globally. A strong CEO has credibility and respect not only because of business talent and organizational power but also because of the depth of experience, knowledge, and insight. A suggestion from a visionary CEO with branding talent and managerial experience in branding and marketing is the key driver of the branding efforts and results in any successful organization internally and externally. The selection and evaluation of a product or service name is one of the brand name components. We know that : It ensures legal protection of certain product or service characteristics, which prevents competition from copying them It allows producers and salesmen to obtain a loyal and profitable consumer group It allows easier adjustment to segmented markets as the companies are able to function on the principle of one brand name one segment It allows the company image to be established It allows a connection with the desired product or service position It makes the product attractive for the consumer It creates various advantages and exclusiveness for the product or service METHODS USED TO CHOOSE A PRODUCT NAME Just as parents carefully choose names for their children, companies have the same difficult and extremely responsible task for naming products. They conduct qualitative research by which we can evaluate the relation to the product, its use, the product image and its comparison to competition. They organize brainstorming meetings from which we get an enormous amount of suggestions for the new names. They offer a chain associates with associations which relates to the product or individual names.they form a base for name suggestions. They apply eureka method helping with various literature, computer scattering of letters and creating new names. They test the name suggestion in target groups. PROCESS OF SELECTING AND EVALUATING BRAND NAMES The process of selecting and evaluating brand names runs according to the following steps : Identification of goals and criteria for brand name. Creating bank names Selection of suggestion Evaluating the consumer Evaluating legal protection Final name decision IDENTIFICATION OF GOALS AND CRITERIA FOR BRAND NAME The basis for a targeted search of a suitable name is determining the starting points, which means criteria that are expressed by a suitable name. Apart from general ones such as easy to remember, popularity, easy pronunciation etc. it is essential to determine specific ones that derive from the desired brand name position which will carry such a name. CREATING BANK NAMES In creating bank names it is important to rely on many sources. In this way we are able to rely on many sources. In this way we are able to avoid fixations on only one idea which narrows the creative process. The purpose of this phase is to obtain various suggestions according to the pre determined starting points. SELECTION OF SUGGESTION The next level in finding a suitable name is the selection of suggestion which have been made. A qualified team of experts that consists of many different people does the selection. The selection is finished when 8-12 suggestions that the most correspond to the expert teams opinion have been chosen. EVALUATING THE CONSUMER When a qualified team of experts make its suggestion, the most suitable bank name in their opinion, it is important to evaluate them in target groups. This must be done, because the name of the brand will be given to a product or service which will fulfil the needs of certain groups of people. The chosen name must be likeable and suitable for this group of people. EVALUATING LEGAL PROTECTION Before the final decision of the most suitable suggestion it is essential to check whether the client can register the name of the brand. In most cases the client or the holder of the brands name can do this before the testing of consumer suggestions. FINAL NAME DECISION The final decision on the chosen name depends on the client, who must consider not only the outcome of the evaluation by target consumer groups but also the position he wishes the product to have. After selecting the brand name the important things on which we should focus is its character, its visual symbol and logotypes, its colour, geographical and historical roots. BRAND CHARACTER One of the most important assets of an enterprise is the brand. The character of the brand is a critical success factor for the enterprise (and for the value of the brand). Character can be seen in terms of the attention, affection and trust awarded to the brand by the market. For a brand to have character, it needs to have positive public awareness. It also needs to have clarity, and a consistent brand proposition. This means that customers know what to expect from the brand in terms of product quality, customer service and so on. It also means that people supporting the brand (whether your own staff or third parties) know how to deliver the brand proposition. VISUAL SYMBOLS AND LOGOTYPES Everybody knows Nikes dash, Adidas three stripes, Nestlà ©s nest, Amuls girl. These symbols help us to understand the brands culture and personality. They are actually chosen as such, the corporate specifications handed over to graphic identity and design agencies mainly pertain to the brands personality traits and values. Logo should be: simple distinctive intuitive COLOUR PSYCHOLOGY AND BRAND Colour is one of the most important components in creating brand identity. The purpose of a brand identity system is to encode a brand in peoples memory and retrieve it from their memory. In a visual system, the two most powerful components are the consistent recognizable shapes and colours. It is best if these shapes and colours are distinctive. Colour can have a significant affect on peoples perception of a product or brand. For instance, burgundy and forest green are perceived to be upscale while an orange label or package indicates an inexpensive item. Third, colours can actually have an affect on a persons state of mind and cognitive ability as demonstrated by numerous research studies. For instance, pink has been shown to increase a persons appetite and calm prison inmates. Be aware that colors can have different symbolic meanings in different countries and cultures. BRAND NAME The importance of an image has become an emotional part of everyone. A brand name represents the image, character and personality of a brand. A brand name should be clear, lucid, easy to remember, distinct from the competition and should not be generic to the category. It should become customers Top of the mind brand (TOMB). Most successful brand names would satisfy these criterions to quite an extent. Brand names that are linked to associations of their origins or product will create first impressions to the user. BRAND IMAGE The vast flow of names today makes it harder to differentiate them unless they come out with their own uniqueness. This way, they could come to their special position in everyday life. The image following a particular name is also determined by the role of communication it undergoes; of which the followings are included: its manner, personality, behavior, ethics, values, etc. The importance of brands depends on the true ambitions of the company. It is important to take into account several factors and market circumstances before finalizing the brand name and its image. Company should take into account several factors and market circumstances like company goals, consumer wishes and expectations, trade groups and several other groups. A company builds its brand image through trade communication with its consumers. That is how a company informs the consumer of what the brand represents, what its values are, what the company is offering or guaranteeing the consumer, what its advantages are, its qualities etc. The consumers interpret all obtained information and form a subjective perception of the brand or its image. CHAPTER – 5 TRADEMARK REGISTRATION LEGISLATION (INDIA TRADEMARK LAW) The Indian law of trademarks is enshrined the new Trade Marks Act, 1999 came into force with effect from September 15, 2003. The old Trade and Merchandise Marks Act, 1958 was repealed at the same time. The new Trademarks Act of 1999 is in line with the World Trade Organisation recommendations and is in conformity with the TRIPS Agreement to which India is a signatory. MAIN FEATURES OF NEW LEGISLATION IN INDIA Under the new Trademarks Act of 1999 Registration of Service Marks allowed in addition to Trademarks for goods. No separate application necessary for each category/class of goods or services; a single application would do, however filing fee will be charged separately for each class of goods/services. The term of registration of trademark is ten years, subject to renewal thereafter The system of maintaining registration of trademark in Part A and Part B with different legal rights, dispensed away. Registration of trademarks which are imitations of well known trademarks not permitted. Registration of Collective Marks owned by associations allowed. Offences relating to trademark made cognizable. Filing Fees enhanced by more than 8 times. Extension of application of convention countries. WHAT IS A TRADEMARK ? A Mark` may consist of a word or invented word, signature, device, letter, numeral, brand, heading, label, name written in a particular style, the shape of goods other than those for which a mark is proposed to be used, or any combination thereof or a combination of colors and so forth. Subject to certain conditions, a trademark may also be symbolized by the name of a person, living or dead. For the purpose of registration, a mark chosen should be capable of distinguishing goods or services of one person from those of the others. Further it should not be deceptively similar to an existing mark of another person and not the one expressly prohibited under the Act. The marks devoid of any distinctive character, or which are only indicative of the kind, quality, quantity, purpose, value or geographical origin of the goods, or which are marks already in vogue in the trade due to their customary use may not be registered. But these disqualifications do not apply to marks, which have already acquired distinction due to their popularity and consistent use. Internationally acclaimed brand names are freely available for use in Indi Concepts and Strategies of Brand Management Concepts and Strategies of Brand Management ABSTRACT Branded products can be seen everywhere around us at all time, and is a way of communication for the buyer of the product. Brand management will play a more significant role in future marketing competition, so research on the brand management is likely to become more meaningful and interesting. Brand management can really create value like increasing more adaptability, uniqueness, recognition etc. All in all, brand management is significant and can add value to firms. The project discusses all about deciding and evaluating brand name. the logo and colour of the brand play an important role in attracting the consumers. Moreover after deciding the brand name, it is mandatory to register the name at trademark registration office. All this process is followed by launching or re-launching the new product or the recalled product respectively. Moreover companies have realised that the role of the company does not got over by mere launching the brand but they have to do continuous marketing to sustain in the competitive market. Over period of time, the value of product decline due to many factors and companies have to work on the revitalizing the brand image and thus leads to success of the product. The brand name is thus one of the most powerful sources of identity CHAPTER – 1 INTRODUCTION TO BRAND A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well. is a well said verse by Jeffrey Preston Bezos, the President, Chief Executive Officer and Chairman of the board of Amazon.com BRAND A brand is a name or trademark connected with a product or producer. Brands have become increasingly important components of culture and the economy, now being dscribed as cultural accessories and personal philosophies. According to the American Marketing Association (AMA), brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Technically speaking, whenever a marketer creates a new name, logo, or symbol for a new product or service, he or she has created a brand. Now the question still is not clear about what all brand is about so we can say that brand is a promise, brand is and associated image and everyone and everything is brand. A BRAND IS A PROMISE First and foremost, a brand is a promise. It says you know the name, you can trust the promise. As all promises, it is trusted only as far as those promises are met. Trust is a critical first step and brands aim to accelerate that step by leveraging the implied promise of the brand. A BRAND IS AN ASSOCIATED IMAGE Most brands have a logo which acts as a short-cut to remind us of the brand promise. The logo uses color, shape, letters and images to create a distinctive image that is designed both to catch our eye and to guide our thoughts in the right direction. The brand may also be associated with tunes, celebrities, catchphrases and so on. All parts of the brand image works as a psychological trigger or stimulus that causes an association to all other thoughts we have about the brand. EVERYTHING AND EVERYONE IS A BRAND If you get down to the detail, everything is a brand, because we build our understanding of the world by creating associations about everything. A tree has an implied promise of beauty and shade. Even words are brands. When I say speed, you will conjure up images of fast cars, etc. People are brands, too. When people see you, or even hear your name, they will recall the image they have of you, (which is something you can actively manage or let happen). In a company where people are visible to customers, such as a service business, the people are very much a part the brand. The brand name is thus one of the most powerful sources of identity. When a brand questions its identity, the best answer is therefore to thoroughly examine its name and so try to understand the reasoning behind its creation. In doing so, we can discover the brands intentions and programme. Many brands make every effort to acquit qualities which their brand name fails to reflect or simply excludes altogether. A name-like an identity-has to be managed. Certain names may have a double meaning. The purpose of communication then is to select one and drop the other. IMPORTANCE OF BRAND Branding is a very powerful component in buisness. The brand must have a logo to make branding easier and more possible. The consumers decide if they will buy a product or use a service based on how they view the brand. The brand itself tells us or let us imagine how good ir bad the product is even we never tasted it before. All that brand promotion and advertising really do tell us how great a brand can be (like Nike). Once the customer likes your brand he/she will definitely come back for the repeated services or pproducts. The qualities of the product or services are ensured through the mind of customers from the image of the brand. Therefore, Brand is not only convinient for buisness for repeated customer purchase but also easier for customers to filter out the countless generic items. Brand gives consumer the reason to buy it and wastes less time for customer to choose a particular product or service. TYPES OF BRAND There are two main types of brand – manufacturer brands and own-label brands. MANUFACTURER BRANDS Manufacturer brands are created by producers and bear their chosen brand name. The producer is responsible for marketing the brand. The brand is owned by the producer. By building their brand names, manufacturers can gain widespread distribution (for example by retailers who want to sell the brand) and build customer loyalty (think about the manufacturer brands that you feel loyal to). OWN LABEL BRANDS Own-label brands are created and owned by businesses that operate in the distribution channel – often referred to as distributors. Often these distributors are retailers, but not exclusively. Sometimes the retailers entire product range will be own-label. However, more often, the distributor will mix own-label and manufacturers brands. Own-label branding – if well carried out – can often offer the consumer excellent value for money and provide the distributor with additional bargaining power when it comes to negotiating prices and terms with manufacturer brands BRAND EQUITY Brand equity refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and strong product associations. Brand equity also includes other intangible assets such as patents, trademarks and channel relationships. The list below shows the worlds top 10 brands in 2002 (as measured by value): {Rank Brand Value ($ billions)} Coca-Cola..($69.6) Microsoft.($64.1) IBM($51.2) GE..($41.3) Intel.($30.9) Nokia.($30.0) Disney($29.3) McDonalds..($26.4) Marlboro..($24.2) Mercedes.($21.0) Source: Interbrand; JP Morgan Chase, 2002 CHAPTER 2 THE BRAND : SOURCE OF VALUE FOR THE CONSUMER The brand is a focal point for all the positive and negative impression created by buyer over time as he comes in contact with the brands product, distribution channel, personnel and communication. A brand continues to be, at least in the short term, a good example for quality even after the patent has expired. The life of patent is extented, thanks to brans, thus explaining the importance of branding in the pharmaceutical or the chemical industry. The brand performs an economic function in consumers mind and thus has a lasting and memorable effect on the companys activities. Legally a brand is simply a symbol which distinguishes a companys product and certifies its origin and thus obtains its value through registration and conformity. The value of brand comes from its ability to gain an exclusive, positive and prominent meaning in the minds of a large number of consumers. The tangible and intangible benefits which are derived from the consumption of a product of a brand are encapsulated in the strong brand. When a brand is created at first it is worth nothing. Over the time the logo acquires significance by means of advertising. Advertising are forgotten quickly whereas a brand stays in memory along with the implications which are attached to it by public. The brand is thus stocked in the mind of potential consumers. Hence, brand can be considered as an asset of the company. ADVANTAGES OF STRONG BRAND Greater perception of product or service performance. Greater marketing communication effectiveness Greater customer retention and loyalty More appreciative consumer response on price increase or decrease Has very high awareness Receives a lot of free publicity/buzz Is admired and has high purchase intent Enables the owner to charge a price premium Results in increased market share, especially for the target customers Provides increased bargaining power with business partners Provides a platform for growth beyond the current products and product categories Helps attract and retain talented employees Helps the management team align employees in support of the brands promise Often provides clarity for budgeting and capital investment decision Increases an organizations sales, profit margins, stock price and market valuation Larger margin Less vulnerability to competitive marketing action and marketing crisis Greater trade cooperation and support Possible licensing and franchising opportunities Greater brand extension opportunities ROLE OF BRAND IN PRODUCT CHARACTERIZATION The product can be characterized into three types : The qualities which are noticed by contact, before buying. Eg. Decision to buy a pair of socks. The choice is made according to the visible characteristics i.e the pattern, the style, the material, the feel, the elasticity and the price. The qualities which are noticed uniquely by experience, thus after buying. Eg. Automobile market. The performance, consumption and style can be assessed before buying the car but road-holding, the pleasure of driving, reliability and quality cannot be entirely appreciated through test drive. Credence qualities which cannot be verified even after consumption and which you have to take on trust. Eg. In the market for upmarket car, the feeling that we have made it, that certain feeling of fulfillment and personal success through buying and owing a BMW are typically the results of pure faith. Hence the role of brand is made clearer by this classification of sought-after qualities. The brand is a sign whose function is to disclose the hidden qualities of the product which are inaccessible to contact (sight, touch, hearing, smell) and possibly those which are accessible through experience but where the consumer does not want to take the risk of trying the product. As we can see, a brand provides not only a source of information but performs certain other functions which justify its attractiveness and its monetary return when it is valued by buyers. FUNCTIONS OF BRAND FOR CONSUMER The eight function of brand are presented in the table given below. The first two are mechanical and concern the essence of the brand i.e to function as a recognized symbol in order to facilitate choice and to gain time. The following three functions reduce the perceived risk. The last three have a more pleasurable side to them ethics show that the buyers are expecting, more and more, responsible behavior from their brands. FUNCTION CONSUMER BENEFIT Identification To be clearly seen, to make sense of the offer, to quickly identify the sought-after products. Practicality To allow saving of time and energy through identical repurchasing and loyalty. Guarantee To be sure of finding the same quality no matter where or when you buy the product or service. Optimization To be sure of buying the best product in its category, the best performer for the particular purpose. Characterization To have confirmation of your self-image or the image that you present to others. Continuity Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years. Hedonistic Satisfaction linked to the attractiveness of the brand, to its logo, to its communication. Ethical Satisfaction linked to the responsible behavior of the brand in its relationship with society. Table : The function of the brand for the consumer. Hence we can say that brand plays an important role in the company. The brand of a company is created by the company and its customers together. The company has to make clear through its brand the promise it makes to its customers, based on the strategies and vision for the future of its business and products. It is vital that the company fully comprehends exactly what the customers expect from the brand, and that it continually lives up to this expectations. The aim of brand management is to create a brand that will build this long-term relationship an unshakeable bond between the company and its customers. Brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity.1 These concepts and techniques are to improve the long-term profitability of the brand strategies. CHAPTER – 3 BRAND MANAGEMENT Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the products perceived value to the customer and thereby increase brand franchise and brand equity. Brand management is a dynamic and a continuous process that needs consistent investment of time and money. The boardroom must ensure that brand management is allocated a specific budget as it is much more than mere marketing communications. Due to the intangible nature of branding, the results may not accrue in a short period of time a it takes time and reinforcement to build customer loyalty. Brand management is all about the total approach says about defining the brand and control its management by the leaders of the company. Once the approach is finalised than create the promise by describing all about the product followed by making the promise by doing marketing of the product and inject the information about the product into the mind of consumer. Lastly it is important to keep the promise, what you have made during the marketing of the product. TOTAL APPROACH Brand management starts with understanding what brand really means. This starts with the leaders of the company who define the brand and control its management. It also reaches all the way down the company and especially to the people who interface with customers or who create the products which customers use. Brand management performed to its full extent means starting and ending the management of the whole company through the brand. It is simply far too important to leave to the marketing department. CREATING THE PROMISE Creating the promise means defining the brand. A good brand promise is memorable and desirable. It cannot be effective if nobody remembers it, and is no good either if nobody wants it. A good brand promise evokes feelings, because feelings drive actions. The promise must be unique and identified with you alone. The right promise comes through a deep understanding of the marketplace and the customers who are going to use the product. It also comes from a deep understanding of the capabilities and motivations of the people in the company. MAKING THE PROMISE Once the promise is created, the next step is to somehow inject it into the minds of the customers, the staff and everyone who receives anything from you or has any impact on what you deliver. This is where marketing people come into their own. Although it is still not their sole preserve, a large part of marketing, which includes advertising and PR, is about positioning the company and its products in the minds of customers and against your competitors. KEEPING THE PROMISE Creating and making the right promise is one thing, but then you have to keep it. If you do not, you brand will still exist, but now the promise will be of slipshod products and inconsistent delivery. Keeping promises means managing capability. It means consistent processes that are capable of delivering what is required. It means technology and systems which are reliable and usable. It means motivated people who are willing and able to deliver the goods. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products favourable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. Brand management includes the trademark registration of the brand, brand selection and evaluation, launching a brand sustaining a brand, brand extension. The trademark registration in India follows the trademark registration procedures and specific laws. CHAPTER – 4 BRAND SELECTION AND EVALUATION In the next five years, we will see a rapidly changing landscape across the globe, where the opportunities for businesses to benefit from corporate and product branding efforts will be larger than ever before. The growing emphasis on branding will move up the boardroom agenda and it is strongly believed that branding will become one of the most prominent drivers of value across the globe in the next two decades. Businesses with a sustainable business model and with a visionary and passionate CEO with branding talent will benefit from the rising opportunities for competing in the modern marketplace and potentially taking on the global scene. It needs to be no less than the CEO who embodies the branding efforts and serves as the companys and thereby the brands primary advocate and nurturer. The approach is particularly well suited to companies whose top executives have a passion and talent for brand strategy, but in tomorrows tough environment all top-executives must be able to represent and lead the brand. The top executives of world class companies are directly involved in leading the branding vision, strategy and implementation, and spend a significant amount of their work hours to drive their brands forward and to achieve even better results. Tomorrows CEO must be a brand champion who leads corporate and product branding strategies, all strategic brand-portfolio decisions and constantly monitors the implementation of the brand locally, regionally and globally. A strong CEO has credibility and respect not only because of business talent and organizational power but also because of the depth of experience, knowledge, and insight. A suggestion from a visionary CEO with branding talent and managerial experience in branding and marketing is the key driver of the branding efforts and results in any successful organization internally and externally. The selection and evaluation of a product or service name is one of the brand name components. We know that : It ensures legal protection of certain product or service characteristics, which prevents competition from copying them It allows producers and salesmen to obtain a loyal and profitable consumer group It allows easier adjustment to segmented markets as the companies are able to function on the principle of one brand name one segment It allows the company image to be established It allows a connection with the desired product or service position It makes the product attractive for the consumer It creates various advantages and exclusiveness for the product or service METHODS USED TO CHOOSE A PRODUCT NAME Just as parents carefully choose names for their children, companies have the same difficult and extremely responsible task for naming products. They conduct qualitative research by which we can evaluate the relation to the product, its use, the product image and its comparison to competition. They organize brainstorming meetings from which we get an enormous amount of suggestions for the new names. They offer a chain associates with associations which relates to the product or individual names.they form a base for name suggestions. They apply eureka method helping with various literature, computer scattering of letters and creating new names. They test the name suggestion in target groups. PROCESS OF SELECTING AND EVALUATING BRAND NAMES The process of selecting and evaluating brand names runs according to the following steps : Identification of goals and criteria for brand name. Creating bank names Selection of suggestion Evaluating the consumer Evaluating legal protection Final name decision IDENTIFICATION OF GOALS AND CRITERIA FOR BRAND NAME The basis for a targeted search of a suitable name is determining the starting points, which means criteria that are expressed by a suitable name. Apart from general ones such as easy to remember, popularity, easy pronunciation etc. it is essential to determine specific ones that derive from the desired brand name position which will carry such a name. CREATING BANK NAMES In creating bank names it is important to rely on many sources. In this way we are able to rely on many sources. In this way we are able to avoid fixations on only one idea which narrows the creative process. The purpose of this phase is to obtain various suggestions according to the pre determined starting points. SELECTION OF SUGGESTION The next level in finding a suitable name is the selection of suggestion which have been made. A qualified team of experts that consists of many different people does the selection. The selection is finished when 8-12 suggestions that the most correspond to the expert teams opinion have been chosen. EVALUATING THE CONSUMER When a qualified team of experts make its suggestion, the most suitable bank name in their opinion, it is important to evaluate them in target groups. This must be done, because the name of the brand will be given to a product or service which will fulfil the needs of certain groups of people. The chosen name must be likeable and suitable for this group of people. EVALUATING LEGAL PROTECTION Before the final decision of the most suitable suggestion it is essential to check whether the client can register the name of the brand. In most cases the client or the holder of the brands name can do this before the testing of consumer suggestions. FINAL NAME DECISION The final decision on the chosen name depends on the client, who must consider not only the outcome of the evaluation by target consumer groups but also the position he wishes the product to have. After selecting the brand name the important things on which we should focus is its character, its visual symbol and logotypes, its colour, geographical and historical roots. BRAND CHARACTER One of the most important assets of an enterprise is the brand. The character of the brand is a critical success factor for the enterprise (and for the value of the brand). Character can be seen in terms of the attention, affection and trust awarded to the brand by the market. For a brand to have character, it needs to have positive public awareness. It also needs to have clarity, and a consistent brand proposition. This means that customers know what to expect from the brand in terms of product quality, customer service and so on. It also means that people supporting the brand (whether your own staff or third parties) know how to deliver the brand proposition. VISUAL SYMBOLS AND LOGOTYPES Everybody knows Nikes dash, Adidas three stripes, Nestlà ©s nest, Amuls girl. These symbols help us to understand the brands culture and personality. They are actually chosen as such, the corporate specifications handed over to graphic identity and design agencies mainly pertain to the brands personality traits and values. Logo should be: simple distinctive intuitive COLOUR PSYCHOLOGY AND BRAND Colour is one of the most important components in creating brand identity. The purpose of a brand identity system is to encode a brand in peoples memory and retrieve it from their memory. In a visual system, the two most powerful components are the consistent recognizable shapes and colours. It is best if these shapes and colours are distinctive. Colour can have a significant affect on peoples perception of a product or brand. For instance, burgundy and forest green are perceived to be upscale while an orange label or package indicates an inexpensive item. Third, colours can actually have an affect on a persons state of mind and cognitive ability as demonstrated by numerous research studies. For instance, pink has been shown to increase a persons appetite and calm prison inmates. Be aware that colors can have different symbolic meanings in different countries and cultures. BRAND NAME The importance of an image has become an emotional part of everyone. A brand name represents the image, character and personality of a brand. A brand name should be clear, lucid, easy to remember, distinct from the competition and should not be generic to the category. It should become customers Top of the mind brand (TOMB). Most successful brand names would satisfy these criterions to quite an extent. Brand names that are linked to associations of their origins or product will create first impressions to the user. BRAND IMAGE The vast flow of names today makes it harder to differentiate them unless they come out with their own uniqueness. This way, they could come to their special position in everyday life. The image following a particular name is also determined by the role of communication it undergoes; of which the followings are included: its manner, personality, behavior, ethics, values, etc. The importance of brands depends on the true ambitions of the company. It is important to take into account several factors and market circumstances before finalizing the brand name and its image. Company should take into account several factors and market circumstances like company goals, consumer wishes and expectations, trade groups and several other groups. A company builds its brand image through trade communication with its consumers. That is how a company informs the consumer of what the brand represents, what its values are, what the company is offering or guaranteeing the consumer, what its advantages are, its qualities etc. The consumers interpret all obtained information and form a subjective perception of the brand or its image. CHAPTER – 5 TRADEMARK REGISTRATION LEGISLATION (INDIA TRADEMARK LAW) The Indian law of trademarks is enshrined the new Trade Marks Act, 1999 came into force with effect from September 15, 2003. The old Trade and Merchandise Marks Act, 1958 was repealed at the same time. The new Trademarks Act of 1999 is in line with the World Trade Organisation recommendations and is in conformity with the TRIPS Agreement to which India is a signatory. MAIN FEATURES OF NEW LEGISLATION IN INDIA Under the new Trademarks Act of 1999 Registration of Service Marks allowed in addition to Trademarks for goods. No separate application necessary for each category/class of goods or services; a single application would do, however filing fee will be charged separately for each class of goods/services. The term of registration of trademark is ten years, subject to renewal thereafter The system of maintaining registration of trademark in Part A and Part B with different legal rights, dispensed away. Registration of trademarks which are imitations of well known trademarks not permitted. Registration of Collective Marks owned by associations allowed. Offences relating to trademark made cognizable. Filing Fees enhanced by more than 8 times. Extension of application of convention countries. WHAT IS A TRADEMARK ? A Mark` may consist of a word or invented word, signature, device, letter, numeral, brand, heading, label, name written in a particular style, the shape of goods other than those for which a mark is proposed to be used, or any combination thereof or a combination of colors and so forth. Subject to certain conditions, a trademark may also be symbolized by the name of a person, living or dead. For the purpose of registration, a mark chosen should be capable of distinguishing goods or services of one person from those of the others. Further it should not be deceptively similar to an existing mark of another person and not the one expressly prohibited under the Act. The marks devoid of any distinctive character, or which are only indicative of the kind, quality, quantity, purpose, value or geographical origin of the goods, or which are marks already in vogue in the trade due to their customary use may not be registered. But these disqualifications do not apply to marks, which have already acquired distinction due to their popularity and consistent use. Internationally acclaimed brand names are freely available for use in Indi