What people-management tools can be applied to enhance levels of Essay

What people-management tools can be applied to enhance levels of service quality exhibited by low-budget flight attendants You need to justify your recommendations on theoretical and empirical evidence - Essay Example The productivity of human resources depends on the way human resource managers manage them during their working hours on the job. If human resources are managed effectively, the result is always an increase in their motivation and drive to do work. The work of these managers is therefore to look for ways to enhance their motivation and all other things will fall into place. Managers who are ineffective in their performance sometimes face opposition and rejection by workers, they may face sabotage for those decision and strategies that are implemented in the hope of ensuring increased performance in the organization. The Flight Industry is one of the sectors that are associated with a lot of prestige by many people. Employees joining the industry are always beaming with huge expectations of better pay and flight adventure in destinations across the world. The fact is that like other industries, there are companies that offer low cost flight services to the clients, this means that, flight attendants have to be prepared to cope in such an industry in order to enjoy their work responsibilities and grow their careers. In the flight industry, emotions are a normal part of life; this is the case in any service industry. Workers are expected to keep smiling and showing their clients a happy face even when the flight attendants are experiencing work stress (Suvanto, 1989, p. 23). New employees who are brought on board as flight attendants must learn how to adapt to the demanding work circumstances; they have to understand that smiling is an important thing that has to be maintained. In general, emotions play an important role in any work environment, they tell the kind of experiences that one is passing through, positive emotions elicit increased motivations that increase work performance. Emotional management is one of the most important responsibilities of human

The english housel development Article Example | Topics and Well Written Essays - 250 words

The english housel development - Article Example the beauty and design have to be concordant to each other in such a way that the scheme may explore the needful appearance of the concept in theory1. The relation between Hitchcock and Pugin is that Hitchcock is a critic of building design and he finds Pugin to follow such dimension in his work. The narratives of Pugin are very sensitive in terms of explaining the true sense of functionalism. Such narratives have proven as effective context of understanding design process of functionalism beauty in structures, it is significant to note that the Hitchcock address beholds instruments and the changing circumstances which have conveyed the eligibility of process designing. The criticism that has been put forward by Pugin in his address of functionalism as a process of design critic does not just enhance the limitations and shortcomings but it rather takes a constructive approach to discuss this area of design and aesthetics. On the other hand, Shaw has been critically acclaimed by Muthesius with the usage of sculpture examples in the address. This is fairly different from the approach of Hitchcock who takes a case study approach to solve such aspects2. Thus, it can be said that my personal viewpoint considers the assessment and critical claim of Hitchcock to Pugin’s desi gn is appropriate and worth it as mentioned, â€Å" It is proper to remark that the cluster of pinnacles at A are not carried up for mere ornament, pinnacle at the point of

Exercises ; Problems Solutions Essay Example for Free

Exercises ; Problems Solutions Essay Her owner’s equity decreased by $14,000 for the operating expenses recorded on August 10th, by $400 for the interest expense recorded on August 24th, and by $10,000 for the cash dividend recorded on August 29th. In other words, her owner’s equity was increased by revenues, and it was decreased by expenses and dividends. Interest is an expense because it represents a necessary payment to others (i. e. , creditors) for the use of their money—thus, it is a â€Å"cost† of doing business. Dividends are a distribution of profits to the owners of the firm and represent a partial liquidation of the firm. A dividend is not an expense because it represents a profit distribution; it is not a â€Å"cost† of doing business. f. g. When money is borrowed from the bank, an asset (cash) is increased and a liability (notes payable) is also increased by an equal amount. Net income is increased only when revenue has been earned—and money borrowed from the bank represents a liability that must be repaid, not revenue that has been earned. Paying off accounts payable decreases an asset (cash) and decreases a liability (accounts payable) by an equal amount. Collecting an account receivable increases an asset (cash) and decreases another asset (accounts receivable) by equal amounts. In both cases, only balance sheet accounts are involved. Net income is increased by revenues and decreased by expenses. The expense associated with a cash payment of an account payable would have been recorded in an earlier transaction (when the expense was incurred and the account payable was established); by the same logic, the revenue associated with the collection of an account receivable would have been recorded in an earlier transaction (when the revenue was earned and the account receivable was established).Amounts shown in the balance sheet below reflect the following use of the data given: An asset should have a probable future economic benefit; therefore the accounts receivable are stated at the amount expected to be collected from customers. Assets are reported at original cost, not current worth. Depreciation in accounting reflects the spreading of the cost of an asset over its estimated useful life. Assets are reported at original cost, not at an assessed or appraised value. The amount of the note payable is calculated using the accounting equation, A = L + OE. Total assets can be determined based on items (a), (b), and (c); total owners equity is known after considering item (e); and the note payable is the difference between total liabilities and the accounts payable. The retained earnings account balance represents the difference between cumulative net income and cumulative dividends. The problem could be solved without calculating this number.

Brand Extensions In Fashion

Brand Extensions In Fashion The Indian market and the Indian consumer are evolving. India is currently on its growth path, and India, currently the worlds twelfth-largest consumer market today is expected to become the fifth-largest consumer market by 2025 (Zachariah, 2012).The Indian consumer has become aware and is moving from need based to kind of need based, thanks to the upbeat mood of the economy and populations increasing integration with globalised lifestyle and consumption patterns (Gupta,2011).The Indian consumer market, primarily dominated by the younger generation, is also becoming increasingly sophisticated and brand conscious. The Indian consumer today prefers to carry out a research and compare various brands and product features, prices etc before making a purchase decision. In most cases their evaluation and the purchase decision is based on their previous experience with a brand or a friends suggestion. These changes in the Indian market and the Indian consumer have created opportunities as we ll as challenges for the Indian and the multinational companies operating in India, and these challenges have called for innovative and pragmatic responses from the marketers (winning with the Indian consumer, 2012 )(Zainulbhai, 2009).Thus, various companies, in order, to respond to the constantly changing consumers needs and to understand what they truly value, are trying to build their brands and businesses around this new Indian consumer. To keep at pace with the evolving market and to claim success in this rapidly changing marketplace, companies are innovating with increasing speed, efficiency, and quality and launching new products to satisfy constantly changing consumer demands. New product and brand development has thus, become one of the most powerful business activities (Gupta,2011). But one of the challenges of brand management in todays over-cluttered world of information is to generate strong and positive feelings towards a specific brand and build brand equity. The new products, brands thus, easily become prone to failures because building brand equity is difficult due to many factors like the high level of advertisement costs and the increasing competition (Zachariah,2012). Therefore, in an effort to reduce new product and brand failure rates and to maximize the returns for their stakeholders, more and more companies with strong brand equity are opting for brand extensions, as they believe that innovating products within established brands that consumers trust is a powerful strategy(Gupta, 2011) 1.1.2 Brand extension, an important marketing strategy Brand extension is a marketing strategy, in which a firm marketing a product with a well developed image uses the existing brand name, in the same or a different product category. Organizations use this strategy to increase and leverage brand equity. It increases awareness of the brand name and increases profitability from offerings in more than one product category. A brands extendibility depends on how strong consumers associations are to the brands values and goals (Jonathan Ablett, 2007).Brand extension is, thus one of the, new product development strategies to introduce new products, create awareness and promote new products benefits and to create sales, since launching a new brand is risky, time consuming and also requires a big budget. But like everything else there are various advantages as well as disadvantages of brand extensions. Some of the benefits being that it makes acceptance of new product easy and also has feedback benefits for the parent brand and the organization. Whereas, on the other hand, if the brand is extended into an unrelated market or is extended too far, then it might lose its reliability, and also, the new product might generate implications that in turn might damage the image of the core brand. Therefore, poor choices for brand extension may dilute and deteriorate the core brand and damage the brand equity, and result in a diluted or severely damaged brand image. In the past, along with many successful brand extensions there have also been many failures. The failure of extension may come from difficulty of connecting with parent brand, a lack of similarity and familiarity and inconsistent messages conveyed to the consumer(Ashok Gopal,2006).In case of brand extension failures, the equity of a brand can be significantly affected, and they can also disturb and confuse the original brand image and meaning in the mind of the consumer. Thus the marketers need to pay close attention to brand extension strategy, because one small mistake can be of considerable damage to the brand equity. A number of elements related to the existing brands, in a companys portfolio need to be considered. The current equity of the brand should be transferrable to the extended product/category and it is also essential that the effect a brands current equity will have in the branding strategy is well understood. So basically while evaluating a brand extension opportunity, some fundamental questions need to be considered by the brand managers, i.e. if it makes sense strategically, for the brand and the company in terms of its product and brand portfolio ; further, if it makes sense strategically, then will the change fit in terms of brands equity ; and lastly, if the change makes sense strategically and the brand logically fits into the new market, then will it be profitable for the company. 1.1.3 Role of consumer in evaluation of brand extension Another important factor to be closely studied by the marketers when considering brand extension is consumer. In fact, consumers evaluation of brand extension plays a major role in determining success or failure of an extension, with consumer playing a moderating role in the evaluation process. It is the consumer, who has the ability to process information into useful knowledge by measuring and comparing the difference between core brand and extension product on the basis of former experience and knowledge. Consumers evaluation is a part of consumers buying behavior process, which often takes place over a period of time. The consumers buying behavior process consists of, searching for, evaluating, purchasing and using of products and services that the consumers expect will satisfy their needs. The overall goal during this decision process is to evaluate various alternatives and choose the product that satisfies them in an optimal way. Therefore the brand managers and the marketers, c onsidering brand extensions are required to study the consumer buying behavior for better understanding of the consumer. 1.1.4 Brand extensions in the world of fashion In the world of brand extensions, fashion brands have a relatively easy path from clothing to fashion accessories. It is not uncommon, for example, to see brand names that may have started their lives associated with fine clothing become equally known for handbags, footwear, jewelry and other accessories. In fashion industry, brands from the luxury segment also get into extensions, through brand diffusion, wherein they mix haute couture with lower priced range of ready to wear, at the same time there are some luxury brands refuse to go in for the same, because they feel that this would just confuse the existing customers of the brand. But a perfect example of a fashion brand, which has successfully got into various line and category extensions, is Armani. The brand has successfully extended itself by sticking to the core values of the brand i.e. by been consistent in its strategy of launching exclusive products to a high end category of customers. Similarly, many fashion brands have successfully evolved and extended themselves into various lines and categories. For instance, Ralph Lauren, a brand that began almost 40 years ago with a collection of ties has today grown into an entire world, redefining American style. The brand includes childrens wear, eyewear, underwear, jeans wear, shoes, accessories, house wares, furs, luggage, and a range of many other products, and over the years the brand has not suffered from brand image dilution due to rapid expansion and instead has only strengthened with time is because, it has been able to maintain its American Aristocrat image all along, i.e. the brand has always stood for providing quality products, creating worlds and inviting people to take part in his in dream, and has been able to maintain it across the extensions. But not all brand extensions are accepted by the consumers, like in case of levis. In the early 1980, when the brand had attempted to introduce a tailored classics line of mens suits, the extension was not well accepted by the consumers due to the lack of fit between the brands informal, rugged, outdoor image and the image the company sought from its suits. 1.2 Problem Identification Consumers play a major role in determining the success and the failure of the brand extension. Consumers evaluation of brand-extensions is in turn influenced by various factors. Most of the existing literature on the same focuses on the western countries, thus limiting the validity of the findings to our country. This study aims to fill this gap by studying consumers evaluation of brand extensions in the Indian context, for the fashion and lifestyle brands in India. 1.3 Project Objective To define the role of brand equity in shaping consumers attitude about a brand extension. To determine the various factors that influence Indian consumers evaluations of brand extensions, especially of premium fashion and lifestyle brands based in Delhi, NCR. 1.4 Research Approach Literature Review: The approach to writing this paper included literature review to understand the context of consumers decision making, brand extension (branding strategy), and consumers attitude towards brands extensions. For a good understanding of the same, various case studies of brand extensions in the west and in India were explored. Studying various success and failure stories, helped in determining how consumers evaluate brand extensions and the various steps a brand needs to adopt when considering a brand extension. Methodology: Primary and secondary research methods were used for the study. Primary research method was used to ascertain the learning and reflections from the literature review for the Indian market and consumer. It was done with the help of quantitative research by conducting structured surveys, with the help of self administered questionnaires, with close ended questions. Secondary research method was used to study the premium fashion and lifestyle brands in India already into or working towards brand extensions. 1.5 Scope The research has helped in establishing the role and importance of various factors in shaping consumers attitude about brand extension and also the significance of consumers evaluation of brand extension in making it a success or a failure. 1.6 Significance and Value Since, India has heterogeneous consumer segments, and every segment has different needs, this study will be of great help for fashion and lifestyle brands in taking insightful decisions within consumers decision making/consumers evaluation parameters regarding brand extension in India. Moreover, a lot of fashion and lifestyle brands in India are diversifying into new segments due to many reasons like in order to increase their shop productivity, to make shoppers spend more time in their shops and buy more, etc, but at the same time there is also a lot of risk involved in extending into new segment. This study will help them to understand consumers evaluation criteria, which will in turn help them create a connection with their consumers. Limitations The limitation of the study is that the research could not explore the entire Indian market due to geographical constraints. Chapter 2: Literature Review 2.1 Brand Principles of Marketing, by Philip Kotler and Gary Armstrong and the American Marketing Association (2008) defined brand as a name, term, sign / symbol or a combination of these that identifies the maker or seller of the product and differentiates them from those of the competition. Aakers (1991) widely accepted definition of a brand is to identify the goods or services of whether one seller or a group of sellers, and to differentiate those goods or services from those of competitors. Brands are thus, valuable assets and tools influencing consumer behavior which includes awareness, choice, use, satisfaction, recommendation, trust and loyalty. They reduce information search costs and risk for consumers and deliver quality, values, promises, and lifestyle enhancement (Czellar, 2010) .According to Keller (2002) the benefits of a strong brand can be categorized under 4 different categories, namely, product-related effects, price-related effects, communication-related effects and channel related effects. Product-related effects of brand include consumer product evaluations, consumer confidence, perceptions of quality, and purchase rate positively related to a brand name. If consumers are well aware of a brand, their attitude and their purchase intention toward the brand are increased. Price-related effects refer to the fact that brand leaders have higher priced positions and consumers have a lower level of price sensitivity toward those leaders. Communication-related effects refer to how the evaluation of brand advertising can be positively biased when consumers have positive feelings toward a brand which is a well known and well-liked brand and the effect of the well-known brand, which is most likely to have competitive advantage in marketing activities, is the channel-related effect. 2.2 Fashion and Branding According to Solomon and Rabolt (2004), fashion is defined as a style that is accepted by a large group of people at a given time. Generally people use the term fashion and style interchangeably. In the fashion context, consumers choose a certain fashion brand over others because they are associated with a certain style (Ferney et al.2005).The way individuals have their own distinctive personalities and styles in the manner of living, speaking as well as dressing, the brands too can be associated with a particular personality, because branding has the propensity to distinguish a brand from others by creating an individual brand personality, by using different brand elements like name, logo, symbol, and package design(Newman and Patel ,2002).Branding is important in fashion retailing as the brand can project a specific image like personality, sex, lifestyle and age, to the target consumers. Like in case of a sports brand, the attribute of sporty feeling would be formed in consumers mi nd whereas a casual fashion brand would be associated with the casual attribute (Keller 2002). The brand image allows fashion merchandise to communicate a distinct symbolic meaning, through merchandise, store atmosphere, sales associate attraction with customers, and marketing campaign, between the retailers and the consumers (Ferney et al, 2005). Newman and Patel discovered that brand image is crucial in this intensely competitive fashion retail sector. As different types of fashion consumers are matched with particular clothing styles, brand image can create a point of difference and assist consumers in selecting a suitable fashion brand. A successful fashion brand can capture the market share and maintain a positive relationship with its customers, therefore creating an appropriate fashion brand is one of the primary ways for the marketers to differentiate the products from the competitors. In brief, fashion and branding are closely related (Solomon and Rabolt 2004; Newman and Pa tel, 2002). 2.3 Brand Equity In Building Strong Brands, David Aaker defined brand equity as a set of brand assets and liabilities linked to the brand-its name and symbols-that add value to, or subtract value from, a product or service. The major asset categories are brand loyalty, brand name awareness, perceived quality and brand associations. http://www.tvonlinesurveys.com/enquete/Brand%20equity%20model%20Aaker.bmp(Aakers Brand Equity Model) The model mainly talks about how brand equity is formed of five components and how each has a role to play in the performance of the brand and indicates that how the brand equity will rise with the increase in brand loyalty, brand name awareness, and perceived quality and with stronger and positive brand associations and also with the increase in the number of brand related proprietary assets. This model can thus be used to get to grips with a brands equity and gain insight into the relation between the different brand equity components and the future performance of the brand. Apart from the five components, the model also reflects indicators or the consequences of the pursued branding policy. (Aaker, 1991) The five components and the factors having an influence on these components are: Brand loyalty: Aaker (1991) defines brand loyalty as the attachment that a customer has to a brand. Two different levels of loyalty are classified: behavioral and cognitive loyalty (Keller, 1998). Behavioral loyalty can be indicated by a number of repeated purchases (Keller, 1998) or commitment to buy the brand as a primary choice .Cognitive loyalty refers to the consumers intention to buy the brand as the first choice .Another indicator of loyalty is the customers willingness to pay higher price for a brand in comparison with another brand offering similar benefits. The extent to which people are loyal to a brand is expressed in the following factors: Reduced marketing costs, as hanging on to loyal customers is way cheaper than charming potential new customers. Trade leverage, as loyal customers represent a stable source of revenue for the distributive level. Attracting new customers, as current customers can help boost name awareness and hence bring in new customers Time to respond to competitive threats, as loyal customers that are not quick to switch brands give a company more time to respond to competitive threats. (Aaker, 1991) Brand awareness: It is a key determinant of brand equity. It is defined as an individuals ability to recall and recognize a brand. Top-of-mind and brand dominance is other levels of awareness included by Aaker (1996) in measuring awareness. Awareness can affect customers perceptions, which lead to different brand choice and even loyalty (Aaker, 1996). A brand with strong brand recall (unaided awareness) and top of mind can affect customers perceptions, which lead to different customer choice inside a product category. The extent to which a brand is known among the public ,can be measured using the following parameters: Anchor to which associations can be attached (depending on the strength of the brand name, more or fewer associations can be attached to it, which will, in turn ,eventually influence brand awareness) Familiarity and liking (consumers with a positive attitude towards a brand ,will talk about it more and spread brand awareness) Signal of substance/commitment to a brand. Brand to be considered during the purchasing process (to what extent does the brand form part of the evoked set of brands in a consumers mind) (Aaker, 1991) Perceived quality: It is defined as the customers judgment about a products overall excellence or superiority in comparison to alternatives brand and overall superiority that ultimately motivates the customer to purchase the product (Aaker and Jacobson, 1994). It is difficult for customers to make a rational judgment of the quality. They are likely using quality attributes like color, flavor, form, and appearance of the product and the availability of production information to infer quality. The extent to which a brand is considered to provide good quality products can be measured on the basis of the following criteria: The quality offered by the product / brand is a reason to buy it. Level of differentiation/position in relation to competing brands. Price, as the product becomes more complex to assess and status is at play, consumers tend to take price as a quality indicator. Availability in different sales channels, i.e. consumers have a higher quality perception of brands that are widely available. The number of brand extensions (this can tell the consumer the brand stands for a certain quality guarantee that is applicable on a wide scale) (Aaker, 1991) Brand associations: Consumer must first be aware of the brand in order to develop a set of associations. Brand association contains the meaning of the brand for consumers; it is anything linked in memory to a brand (Aaker, 1991). Brand associations are mostly grouped into a product-related attribute like brand performance and non product related attributes like brand personality and organizational associations. Customers evaluate a product not merely by whether the product can perform the functions for which it is designed for but the reasons to buy this brand over the competitors. Brand personalities include symbolic attributes (Aaker, 1996; Keller, 1993) which are the intangible features that meet consumers needs for social approval, personal expression or self-esteem. The associations triggered by a brand can be assessed on the basis of the following indicators: The extent to which a brand name is able to retrieve associations from the consumers brain, such as information from TV advertising. The extent to which association contribute to brand differentiation in relation to the competition (these can be abstract association or associations with concrete product benefits) The extent to which brand associations play a role in the buying process (the greater this extent ,the higher the total brand equity) The extent to which brand associations create positive attitude/feelings(the greater this extent, the higher the total brand equity) The number of brand extensions in the market (the greater this number, the greater the opportunity to add brand associations) (Aaker, 1991) Other proprietary assets: Some of the examples are patent and intellectual property rights, relations with trade partners, etc. (the more the proprietary rights a brand has accumulated, the greater the brands competitive edge in those fields) (Aaker, 1991) The model also provides an insight into the criteria that indicate to what degree actual value is created with both consumer and company due to pursued branding policy. However, this model does not make a clear distinction between added value brand can have for the consumer /customer and added value it can have for the brand owner/company and does not even discuss the process that goes into building strong brands, and is only useful to gain insight into the various brand equity components and the relation between them. (Wood, 2000) 2.4 Kellers Customer-based Brand equity model This model depicts the process that goes into building strong brands. It is set in the realm of brand added value, i.e. the focus of this model is on the added value a brand offers its customers/consumers. Kevin Lane Keller introduced this customer-based brand equity model, and has defined it as the differential effect that consumers brand knowledge has on their response to the marketing of that brand (Keller 1993).Differential consumer response is mainly based on consumers knowledge of the brand as well as the favorability of associations. The model is made up of various steps, which should be taken in a fixed order. The model talks about the six dimensions of brand equity, namely, brand salience, brand performance, brand imagery, consumer judgments, consumer feelings and brand resonance. According to Keller, the highest level of brand equity is realized when the top of the pyramid is attained. In his view, the resonance comes about when the consumer has a high level of awareness of and familiarity with the brand and holds some strong, favorable and unique associations in memory. (Keller, Strategic brand management, 2002) http://markhendrikse.squarespace.com/storage/post-images/july-2009/cmmemodel.jpg?__SQUARESPACE_CACHEVERSION=1247443493748 (Kellers customer based brand equity model) The six dimensions and the process that goes into building of strong brands, as identified by Keller are: Brand Salience: The first step in the development of a strong brand involves describing its identity, and revolves around the question: Who am I? .To achieve this, the brand managers need to ensure that the customers should be able to identify with the brand. A clear associative link between the brand and a specific product class/category has to be established in the mind of the consumer, this also further helps in creating a solid footing for the building of brand awareness and knowledge. Salience basically refers to how familiar consumers are with a brand and whether the brand is actively considered when consumers find themselves in purchase or consumption situations. A high level of salience means that a consumer has knowledge of both the depth and the width of a brand, (depth here refers to the ease with which a brand can be activated in the consumers brain, while width refers to the extent to which happens when the consumer is making a purchase decision.)Brand Salience is thus a precondition for moving up on the brand pyramid. (Keller, 2002) (Keller, Strategic Brand Management: a european perspective, 2008) Brand performance and brand imagery: when brand salience has been realized, the process moves on to the next steps in the development of brand meaning. The second step basically answers the question: What am I?This question is answered by using intrinsic (tangible) and extrinsic (intangible) characteristics of a brand.(Intrinsic characteristics refer to the degree to which a product/service is seen to perform by consumers, and extrinsic characteristics refers to how consumers think about a brand. In order to boost overall brand equity the focus needs to be on both brand performance and brand imagery, since they together add on to the brand associations. Raising brand performance starts by delivering a product/service that fulfills current customers needs, followed by attempts to surpass the triggered customer expectations. Brand imagery on the other hand can be increased by tailoring to consumerspshyco-social needs. Imagery refers to what people think about a brand (in terms of value and meaning) and not so much about what exactly the product does or can do (in terms of functionality).It can be raised directly by creating brand experience or indirectly through advertisement. In the end, these two dimensions together need to bring about certain brand associations that are strong, positive and unique. These dimensions also play an important role in creating brand loyalty. (Keller, 2002) Brand judgments and brand feelings: After realizing strong, positive and unique brand associations, the third step deals with the way consumers think and feel about a brand. This step basically contains the responses to the efforts from step 2(performance and imagery).the brand is evaluated and judged at this stage, formulating a certain attitude towards the brand. The two dimensions at play here are: brand judgments (rational) and brand feelings (emotional).the former denotes the opinion consumers have of a brand, and how they evaluate the brand. The opinion in this case is formed rationally and based on three criteria, quality, reliability and superiority. Brand feelings on the other hand are the emotional reactions by consumers to brands and their marketing efforts. What feelings does the brand evoke in the consumer, and in the social environment? Are these feelings intense or not, positive or negative? These feelings can very strong and can have an affect on brand observation dur ing actual use of the product. These feelings are based on various factors, namely, warmth, pleasure, tension, security, social acceptance and self respect. (Keller, 2002) Brand resonance: once when the consumer has acquired a positive idea of the brand in both a rational and an emotional sense, a solid base is created to further jump on to the last stage. This stage answers the question whether the consumer is willing to enter into a (lasting) relationship with a brand. If this stage is attained, then its considered as the brand has achieved true brand loyalty, where the consumer identifies him/herself with the values of the brand to a considerable degree and is willing to invest in a relationship. Brand resonance is an ultimate relationship between a brand and a consumer. The closeness of the bond can be measured using factors like loyalty, emotional bond, being a member of a brand community and active brand involvement. (Keller, 2002) Brand equity if used appropriately, possesses a huge potential to create advantages and benefits for the firm, the trade and the consumer. Some of the benefits of strong brand equity being, improved perceptions of product performance, greater loyalty, less vulnerability to competitive marketing actions and marketing crises, larger margins , more inelastic consumer response to price increases and more elastic consumer response to price decreases ,greater trade cooperation and support ,increased marketing communication effectiveness along with licensing opportunities and additional brand extension opportunities.(Wood ,2000 ; Feldwick, 1996) 2.5 Brand equity and brand extension Brand equity can be leveraged by building it, borrowing it, or by buying it. Building brand equity is not an easy task due to the rapid increase in the number of brands and the intense competition that is prevalent in many industries. Thus, the brands generally prefer to opt for the alternatives to building brand equity i.e. by borrowing it or buying it. (Moisescu, 2005; Tuominen, 1999) Since the study focuses on the role of brand equity in brand extensions, leveraging brand equity by borrowing it, will be discussed. Borrowing brand equity: According to Tuominen (1999), many firms borrow on the brand equity in their brand names by extending existing brand names to other products, which is referred to as brand extension. There are two types of brand extensions namely, a line and a category extension. A line extension is when a current brand name is used to enter new market segment in the existing product class, whereas, a category extension is when the current brand name is used to enter a different product class. A line extension occurs when a company introduces additional items in the same product category under the same brand name. A line extension often involves a different size, color, flavor or ingredient, a different form or a different application for the brand (Richard Elliot, 2006). Products in line extensions are technically congruent, i.e., similar in many attributes. They belong to the same product category or subclass. The vast majority of new-product activity consists of line extens ions. Excess manufacturing capacity often drives a company to introduce additional items. The company might want to meet the consumers desire for variety. The company may recognize a latent consumer want and try to capitalize on it (Moisescu, 2005). The company may want to match a competitors successful line extension. Many companies introduce line extensions primarily to command more shelf space from resellers. Line extensions involve risks. There is a chance that the brand name will lose its specific meaning. This is called the line-extension trap (Eun Young Kim, 2000) .The other risk is that many line extensions will not sell enough to cover their deve

Rock Bands Essay -- essays research papers

There have been all kinds of different types of rock bands throughout the years. Most of the bands have had a different type of style. All of these different types of style are what has shaped today’s music. Some of the bands from the earlier times were: The Beatles, AC/DC, Guns and Roses and the Bee Gees. The Beatles were the greatest and most powerful act of the rock era. They introduced more innovations into popular music than any other rock band of the 20th century. The Beatles grabbed a hold of the attention in 1964 and never let go for the next six years. The Beatles were the first British rock group to achieve worldwide prominence. The Beatles knew each other and had already been playing together in Liverpool for about five years before they had begun having hit records. As composers, their craft and melodic inventive were the best. As singers, both John Lennon and Paul McCartney were among the best and most expressive vocalists in rock and as performers they were exciting and photogenic. Guitarist and teenage rebel John Lennon got hooked on rock and roll in the mid fifties and formed a band called the Quarrymen at his high school. Around 1957, the Quarrymen were joined by another guitarist, Paul McCartney. Soon another guitarist, George Harrison, joined them. The quarrymen chan ged people throughout the 50’s eventually reducing to the three core guitarist who had proven themselves. The Quarrymen changed their name to the â€Å"Silver Beatles† but soon dropped the â€Å"Silver† to become just â€Å"The Beatles†. Lennon’s art college friend, Stuart Sutcliffe, joined the band on bass. Finding a permanent drummer was hard until in the summer of 1960, Pete Best joined.   Ã‚  Ã‚  Ã‚  Ã‚  The group was forced to expand its repertoire, tighten up its chops, and invest its show with enough manic energy to keep its rowdy crowds satisfied. Sutcliffe soon quit and McCartney took over on the bass. Harrison settled in as lead guitarist and Lennon had rhythm guitar. In the middle of the 1961 the Beatles made their first recordings in Germany. The Hamburg Stint was notable for gaining the Beatles sophisticated, artistic fans. In 1961, the Beatles exploding popularity caught the attention of a local record store owner Brian Epstein, who soon became the bands manager. In 1962, Sutcliffe tragically died from a brain hemorrhage. The Beatles were signed by Martin in the m... ...comber Nightclub. They eventually got their own local television show in Brisbane. Some time after that they took on the name the Bee Gees. In 1962, they landed their first recording contract with the Festival Records label in Australia, debuting with the single Three Kisses of Love. Their first English recording New York Mining Disaster 1941 was released in mid-1967, it made the top 20. The Bee Gees single Massachusetts was a chart topper in England and launched the group on their first wave of stardom. In 1981, the groups new LP, Living Eyes, was recorded but didn’t even make the Top 40. The Bee Gees remained active until the death of Maurice in January of 2003. He died from cardiac arrest at age 53. Soon, Robin and Barry decided to quit performing as the Bee Gees. Some of the bands from the earlier times were: The Beatles, AC/DC, Guns and Roses and The Bee Gees. All of these bands had a certain style which helped shape today’s music. Some of the bands used their bad reputation to help sell their music, when some used the cooler, preppy boy kind of style. However, it seems that all of the bands no matter what the reputation were, good or bad, it grabbed all types of audiences.

Knowledge :: essays research papers

After an exhausting game of basketball on my Playstation two it was time to eat. As my search for food was coming to an end I came across a bag of potatoes. So using the cooking skills that I have acquired in my many years I decided to make french-fries. As I cut my potatoes I started to think about Michael Pollan’s essay â€Å"Playing God in the Garden†. This essay is about the creation of â€Å"genetically engineered† potatoes that produce their own insecticide right inside their leaves. I began to wonder if the potatoes on my plate were the same â€Å"New Leaf† potatoes that Pollan talked about. I started to change my mind about eating the fries that I had already melted cheese on but they looked to good to give to my roommate so I continued thinking while eating. The government does not require New Leaf potatoes to be labeled in stores so it must mean they feel it will have no harm on people. One of the many reasons that government exists is to look o ver the wealth fare of its citizens. Think of some of the things that a company must put on their products, labels on alcohol and cigarettes tell the dangers that come from using them, and all foods packages must have the ingredients printed on them. The government also sets up programs like family first to help people in need. Even in high school a person needs four years of gym. Peter Drucker touches this subject in his essay â€Å"The Age of Social Transformation† as he talks about a changing society. The government made the decision that using the knowledge that Monsanto found was the right thing to do for the farming industry. The best times will come when the knowledge that people have is used to enhance their lives.   Ã‚  Ã‚  Ã‚  Ã‚  What good is knowledge if it is not used? There is no point in learning new things if the only reason for learning them is to prove a point or to know more than someone else. Knowledge should be used and the New Leaf is just a potato that has had knowledge applied to it. The potato helps farmers because they no longer have to bathe their fields in harmful chemicals. Imagine living on a farm and someone offers a job that pays more, has fewer hours and is easier than farm work.

Mother And Daughter Relationships Essay

What is the â€Å"mother-daughter† relationship? I have no direct information on this because I am not a daughter. I do, however, have two sisters, and their relationship with my mother is very different when compared to the characters in the short stories â€Å"Who’s Irish?† and â€Å"New York Day Women.† Relationships between mothers and daughters take different forms for different people. The mother/daughter relationship amongst different people can be the same, but also very different. There are many similarities in the relationships between the mothers and daughters in the short stories, â€Å"Who’s Irish?† and â€Å"New York Day Women.† One similarity is that there is a foundation of love between the generations. For example, in â€Å"Who’s Irish?† the mother seems to explain how she feels about her when she was a baby. â€Å"A daughter I have, a beautiful daughter. I took care of her when she could not hold her head up.† The narrator seems to have much love for her daughter, and she tries to make her life better by taking care of her child. In â€Å"New York Day Women† the daughter, Suzette, follows her mother around New York City on her lunch break and comments on what she is doing. In this short story it isn’t hard to see that this daughter loves her mother very much. Suzette also appears to know what her mother does in her everyday life, and with this information she embraces her mother with kindness and love. For instance, she knows that her mother shouldn’t eat anything with sodium because, â€Å"she has to be careful with her heart, this day woman.† Another similarity would be that the cultures of both mothers are held strongly with them, but not as strongly with their daughters. For example, in â€Å"Who’s Irish?† the mother says, â€Å"You spank her,  she’ll stop†¦Ã¢â‚¬  which in Chinese culture it is acceptable to spank your child. However, Natalie replies, â€Å"†¦Oh no. In America, parents not supposed to spank the child. It gives them low self esteem†¦Ã¢â‚¬  Which contradicts the Chinese parenting tradition performed to teach obedience to the child. In â€Å"New York Day Women† the mother portrays herself as a person who keep traditions strong but not have them interfere with other cultures such as the American culture. Although the mother remains tied to her culture throughout the whole story, yet her daughter is willing to accept her ways, but not follow them. An additional similarity in the two short stories is the mothers’ efforts in trying to embrace new cultures. It is hard for people of different backgrounds to understand the change in culture in a country where the culture is totally different and diverse. However, the willingness of the two mothers to accept the culture is their way of expressing their love for their children. For example, in â€Å"Who’s Irish?† the mother finally accepts the culture around her at the end of the story when she moves in with Bess Shea. She encounters things of the new culture and she doesn’t seem to mind them, such as watching bloopers and the birdfeeder. With these little changes in culture she will adapt to the new habitat in which she is living. The similarity in â€Å"New York Day Women† is a little easier to understand because it happens throughout the entire story. In the story â€Å"New York Day Women† the mother walks down the street in Brooklyn while her daughter is following her from behind. The mother seems to have a routine she follows everyday. One example of the mother embracing a new culture is when Suzette is trailing behind, and notices that she stops at the vendor on the side of the street and orders a frankfurter, which is an American meal to most people. Another example, of accepting a new culture would be the argument of the taxi drivers in front of Carnegie Hall, which is very common in New York to have happen. So she sits and waits until the argument is over. The mother’s reply was, â€Å"In Haiti when you get hit by a car, the owner of the car gets out and kicks you for getting blood on his bumper.† These are examples of the similarities between the relationships in â€Å"New York Day Women,† and â€Å"Who’s Irish?† There are also many differences in the mother-daughter relationships of these short stories. The first difference was how the two daughters acted towards  their mothers’ old traditions and customs. The fact that Suzette was curious about the mother’s customs and wanted to know more about it made the story â€Å"New York Day Women† a little more articulate. In the sense that I could tell that Suzette knows her mother very well, and will not stop being curious about her mothers traits. For example, in â€Å"New York Day Women† the Suzette follows her mother around the streets of New York. She doesn’t want to be seen by her because she is trying to see what she is does in the daytime. This curiosity leads Suzette to learn how her mother adapts to the city life. On the other hand, in â€Å"Who’s Irish?† Nattie does not really care what her mother’s traditions are. She only cares about the new way a child should be treated and the way an American acts. This leads to confusion between Nattie and her mother because both are trying to force different customs and cultures Sophie, the daughter of Nattie. Also, in the end, Nattie is so distant from her mother that she rarely goes over to Bess’ house to see her. The second difference between these two stories would have to be the relationships between the two families. In â€Å"New York Day Women† the mother-daughter relationship is very close. Just the fact that the Suzette went to follow her mother to learn her customs is loving, but to have almost every sentence begin with â€Å"My mother† is enough evidence that there relationship is close enough to make the family in â€Å"Who’s Irish?† look chaotic. With this kind of relationship between them their mother-daughter relationship the love will never end. However, the mother-daughter relationship in â€Å"Who’s Irish?† is horrible. The mother loves her daughter, but she can’t show it to Nattie because she doesn’t want to let go of her traditions. This leads to the physical abuse of Sophie and aggravation from Nattie, which would head the relationship in a downhill pattern. The families portrayed in these two stories depict very different mother-daughter relationships. In conclusion, the relationships between mothers and their daughter can vary just as the tides of the ocean. The mother-daughter relationship amongst different people can be the same, but also very different, as seen in the short stories, â€Å"Who’s Irish?† and â€Å"New York Day Women.†. However, in the end family relationships will prevail in good standing, and the love that was always there will rise in the hearts of the families and all will be won in  the fight for togertherness.