Asian Business Essay Example | Topics and Well Written Essays - 1500 words

Asian Business - Essay Example According to the Brewers' Association of Japan (2004), Syozaburo Shibutani started beer brewing and marketing in Osaka during 1872. Beer importation dates back to as early as the Meiji period through the foreigners who came for the development of the Hokkaido (Japanese Sake 2006) though it was only during 1886 when the quantity of domestically produced beer exceeded the level of imports. Nowadays, global brands of beer continue to target the Japanese market while local production is concentrated on breweries who are capable of manufacturing 60K1 of beer (Brewers' Association of Japan 2004). The Japanese beer industry is estimated to be 3.2 trillion yen in value (approximately US$27.3 billion, based on 2001 amounts) indicating the wide popularity of beer in the country. The large market for beer is also evidenced by the fact that beer consumption accounts for 50% of the total alcoholic beverages consumption in volume and 70% in value (The Japanese Beer Industry 2003). There is a huge market for beer in Japan as the country belongs to the biggest beer consumers in the world. During 2003, the country's annual per capita consumption reached 13.4 gallon, making Japan the fourth largest beer consumer worldwide (Impact Databank 2004). The Japanese beer industry is currently comprised of two subsectors namely, regular beer and low malt beer. The regular beer subsector constitutes beer products with 67% or more barley malt content. The low malt beer category is unique to the Japanese beer industry. The creation of this subsector is attributed to the lower tax levied on beer with lower malt content. Typically, products on the low malt subsector has a 25% or less barley malt content having a liquor tax rate which is lower by 40% and has a retail price which is cheaper by 35% relative to regular beer. The low malt subsector has captured a large market in Japan and has experienced double-digit growth since its establishment in 1994. It currently holds 44% of the total beer shipments while approximately 60% of it is consumed locally. Just recently (2003), the low malt subsector was faced with a 28% rise in taxes while regular beer's taxes remained unchanged. This together with product maturity is expected to pull demand for low malt beer (The Japanese Beer Industry 2003). The structure of the Japanese beer industry is oligopolistic in nature with the four major national brewers in Japan accounting for 97% share of the total market. There are still however, foreign brands and local microbrewers who battle for the remaining market share. The major producers of beer in the country are Asahi Breweries (38%), Kirin Brewery (36%), Sapporo Breweries (14%) and Suntory (11%). Asahi Breweries recently dislodged Kirin as market leader due to the wide popularity f its Asahi Super Dry beer. On the other hand, the second largest player Kirin is moving into the production and marketing of non-beer products and becoming an "all-round beverage player." Sapporo lacks competitive advantage while Suntory's beer business profitability is in question (The Japanese Beer Industry 2003). Problems Encountered Victoria Bitter's move of market diversification targeting Japan will surely be met by certain problems and difficulties. Some of the probable problems are cultural, while others are more business in nature. Japanese are known to be very loyal to their culture which keeps them from adopting Western ways. Instead, they maintain their own way of doing business

Sources of Finance Assignment Example | Topics and Well Written Essays - 1250 words

Sources of Finance - Assignment Example The author of the paper states that ordinary shares are issued to the owners of a company. They have a nominal or 'face' value, typically of $1 or 50 cents. The market value of a quoted company's shares bears no relationship to their nominal value, except that when ordinary shares are issued for cash, the issue price must be equal to or be more than the nominal value of the shares.  "Deferred ordinary shares are a form of ordinary shares, which are entitled to a dividend only after a certain date or if profits rise above a certain amount. Voting rights might also differ from those attached to other ordinary shares.  "Preference shares have a fixed percentage dividend before any dividend is paid to the ordinary shareholders. As with ordinary shares, a preference dividend can only be paid if sufficient distributable profits are available, although with 'cumulative' preference shares the right to an unpaid dividend is carried forward to later years. The arrears of dividend on cumula tive preference shares must be paid before any dividend is paid to the ordinary shareholders.  "Loan stock has a nominal value, which is the debt owed by the company, and interest is paid at a stated "coupon yield" on this amount. For example, if a company issues 10% loan stocky the coupon yield will be 10% of the nominal value of the stock, so that $100 of stock will receive $10 interest each year. The rate quoted is the gross rate, before tax.  "Debentures are a form of loan stock, legally defined as the written acknowledgment of a debt incurred by a company, normally containing provisions about the payment of interest and the eventual repayment of capital. "Loan stock and debentures will often be secured. Security may take the form of either a fixed charge or a floating charge. "For any company, the amount of earnings retained within the business has a direct impact on the number of dividends. Profit re-invested as retained earnings are profit that could have been paid as a d ividend.  

Facility location strategies Case Study Example | Topics and Well Written Essays - 750 words

Facility location strategies - Case Study Example Facility location in a central place does not mean it should be located centrally literally. It means locating it in a place, which gives access to all the customers with minimum costs. Sometimes located a facility in a single area with many customers may lock out other customers due to resulting distance that will arise. However, remember the objective of locating a facility is to serve all the customers. The process of finding the ideal place to locate a facility can be tricky. However, a number of methods have been used and they have proved successful. These methods include weighted load-distance method, centre of gravity, linear programming, weighted scores and break-even analysis (Suresh, 2009). This report will focus on using the weighted average method to locate the best place to put up a European facility for a US automobile company. The report took a number of location factors, which include location, geography, transportation, proximity to customers and the relative costs of supplying the goods to these destinations. In addition, these locations were ranked on a scale of 0 – 1 based on the said factors, depending on relative importance. After ranking, each location was then scored on a scale of 0 – 100 and this also depended on how important the location was depending on the factors listed.

Analyzation of the Kings Speech Essay Example for Free

Analyzation of the Kings Speech Essay Anatole Francis wrote, â€Å" To accomplish great things, one must not only act but also dream, not only plan, but also believe.† In the film The King’s Speech, King George VI did not believe that speech therapy could help him. He was so traumatized after trying to articulate clearly in front thousands of people. The audience frowned with disdain and sympathy for him. The minute one experiences embarrassment, he or she will never want to experience it again. The King tried many techniques one can think of, But because of his short fuse and temper, he was not too successful. His supportive wife Elizabeth, seeks a speech therapist named Lionel Logue, who was the key to his success and accomplishments with overcoming his speech impediment. Even though the speech therapist didn’t have a degree, his intense therapeutic lessons did the King well, which proves that no one has to have a degree in order to help someone overcome a challenging obstacle. Overcoming a challenge doesn’t happen instantly or automatically. It is the outcome of an intention and conscious efforts to doing things that scare a person. Pageantry involves frequent public speaking and impromptu questions. On one eventful night of the Miss Sophomore Sweetheart 2009-2010 pageant, there was a contestant who was truly awesome the whole night until the question and answer segment. She stepped out in a gorgeous turquoise cocktail dress and cinderella glass heels. She stood in front of the mic awaiting her question. The contestant was so nervous that her knees began to tremble. The only thing she could do was smile and listen. The master of ceremonies finally began asking the question. As the contestant began to answer the question, she stared right into the audience as they were whispering and giggling. She then stopped in her tracks and started to stumble. Her heart felt a deep pounding because of the embarrassing moment. She then got lost in her answer and terribly confused. To end that embarrassing moment, she just said â€Å"Thank you!† She quickly walked off the stage in disappointment knowing that her chance of the crown was gone. After that, she never wanted to do another show again. Later in the year 2010, she decided that she would like to vie for the prestigious title of Virgin Islands Carnival Queen. But she had one problem and that was the impromptu segment of question and answer. In the film The King’s Speech, there were many techniques used to improve his stuttering. This includes diaphragmatic breathing, shadowing, masking and pacing techniques. Also, when they would have little conversations, when he stuttered, Mr. Logue would tell him to sing it in a song. He also used tongue twisters to exercise his tongue. These techniques were also applied in the lessons for the contestant who stumbled on her words. Her chaperone, Mrs. Kenya Frett Rowe, like Mr. Logue, also doesnt have a degree, but, also like him, she did a great job. Taking smaller breaths with the diaphragm, helped the contestant to relax and to speak more fluently. When relaxing the breathing, the entire body will be relaxed, and this would make the body more comfortable than tense and nervous. This was exactly what the contestant needed. She was also taught to pace herself while answering the question. Slowing down and pacing helps tremendously in preventing stuttering and stumbling. Every other day, Mrs. Rowe and the contestant would work on her issue of answering impromptu questions and giving speeches for the show. The day of any interview or introductory performance, they would go to the place where the event was being held and practice. This was a big help for the contestant because it allowed her to feel comfortable on the day of the event. The night of the Virgin Islands Carnival Queen show was one of the biggest moments of her life. It was time to answer the impromptu question. She stepped out onto the stage with confidence, but deep inside, she was very nervous. As she stood in front of the mic, she thought of all the techniques she was taught. After they asked the question she took a deep breathe and began to answer. After she said â€Å"thank you†, she couldn’t believe that she done it. She was in shock and full of excitement at the same time. She was so relieved that it was over. Her chaperone was very proud. As a result of overcoming challenging obstacles, one grows as a person and expands the possibilities that surrounds their life. Stuttering is due to a combination of factors, including genetic and environmental. In order to overcome challenging obstacles, one must have support and someone who believes in them. Mrs. Rowe believed in her contestant just like Mr. Logue believed in the King. He believed that he was a strong and powerful individual whom with time can overcome any obstacle with good help and support. Even though Mr. Logue did not have a degree, he was still a great therapist. This shows that one does not have to be taught in an academic environment to help someone overcome challenging obstacles. Being experienced is just as good as having a degree.

The Invention Of The Revolver History Essay

The Invention Of The Revolver History Essay Revolvers are repeating firearms that consist of a cylinder containing multiple chambers, with at least one barrel for firing. The name revolver comes from the short-form of its original name, revolving gun. As its name suggests, the revolver is uniquely designed such that the chambers of a revolver revolve around an axis. 2. The Invention of the Revolver The first inventor of the revolver was Elisha Haydon Collier. Collier invented the flintlock revolver, which was a single-action, self-priming weapon with automatic release of gunpowder into the pan when the gun hammer was cocked. Patented in 1818, the flintlock revolvers single barrel allowed greater accuracy and faster reloading time (Shaver, 2004 ). Today, the revolvers that we are familiar with are an adaptation of Colliers revolver. One of the most significant pioneers in revolver technology was Samuel Colt. There are many variations as to how Colt first came up with the idea for his revolver, ranging from an eureka moment while shooting whales, to stealing Colliers idea in India (Hosley, 1996 ). Colt patented the percussion cap revolver in December 1835, which enabled muzzle-loading firearms to fire reliably regardless of weather. This was an improvement from Colliers flintlock revolver, which was prone to misfire in wet weather. The shooter would load the chambers of the cylinder with gunpowder and a projectile, and put in place several percussion caps. While this loading procedure might be tedious, it allowed the shooter to have rounds fully prepared ahead of time (Harris, 2011 ). Bullet cartridges were soon introduced in revolvers in the 1870s, replacing gunpowder and caps. The cartridges are a combination of a projectile (the bullet), a propellant (gunpowder) and a primer (the explosive cap), all contained within a metal casing. 3. Evolution of Revolvers 3.1 Type of innovation 3.1.1 Product Innovation The first revolvers invented by Collier were a product innovation. The patent was bought by John Evans and Son of London. It manufactured about 10,000 revolvers to sell mainly to the British forces in India and they are embodied as its outputs (Flemming, 2012). 3.1.2 Incremental Innovation Before the revolvers were invented, other types of handguns such as the single shot and multi barreled pistols existed. Revolvers improved on these handguns and hence were an incremental innovation. Firstly in the past, guns were mostly limited to a single shot except the pepper box however it was heavy and difficult to load since it had multiple barrels for each bullet. The revolver has the capability to deliver multiple loads to a single handgun barrel in quick succession (Delman ,2010). Revolvers are also different in terms of having lower chances of malfunction and thus provide greater reliability. Rounds which fail to fire can usually be cleared by merely pulling the trigger which will cycle the cylinder and place the next available round in a firing position (Riverwalker, 2009). Several malfunctions are however common in pistols that require more complex methods to clear them. Revolvers also have a sturdier design due partly to their heavier construction which allows them to shoot more powerful rounds (Riverwalker, 2009). 3.1.3 Component Innovation The revolver is a component innovation since its major change in handgun design is in creating a rotating cylinder which would come into alignment with a single barrel to fire successive bullets (Harris,2010). Collier combined this with a flintlock mechanism to create the first revolver. 3.1.3 Competence Enhancing vs Competence Destroying Originally, Colliers flintlock revolver was competence enhancing for John Evans and Son of London. However the revolver had several problems and by the 1840s, Colts Patent Fire Arms Manufacturing Company had adapted the revolvers based on the percussion cap system and mass produced them. This was competence destroying for Colliers company while competence enhancing for Colts (Delman, 2010). 3.2 Mechanics of the Revolver Over the years, the revolver has been constantly evolving and many different variations of the revolver have been invented. Despite this, the fundamental design of the revolver still remains the same, with several firing chambers arranged in a circle in a cylindrical block. This differs from other repeating firearms that use a single firing chamber with a different mechanism to load and extract cartridges. In modern revolvers, there is a spring-loaded hammer located at one end of the cylinder, in line with the barrel (Fig. 1). By cocking the hammer back, a new cartridge is lined up between the hammer and the barrel. To release the bullet, a pull of the trigger would result in the spring throwing the hammer forward so it hits the primer at the back of the bullet. The primer explodes, igniting the propellant and driving the bullet down the barrel. Macintosh HD:Users:helpdesk:Desktop:Screen Shot 2013-03-02 at 1.21.04 AM.png Figure 1 The inside of the barrel is lined with spiralling grooves, which increases the stability of the bullet by spinning it. A longer barrel not only improves stability, but also increases the speed of the bullet. 3.2.1 Actions (Mechanism) Single-Action Mechanism Single-action revolvers are revolvers that require the user to cock the weapon manually. The act of pulling back the cock rotates the cylinder and the user can then pull the trigger to fire it. Colts original revolver design involved a ratchet and pawl mechanism to hold the cylinders in place. Double-Action Mechanism Most revolvers today are double-action revolvers that perform two functions: cocking, and then firing the gun. Robert Adams, a British gunsmith, invented double-action revolvers in 1851. In this mechanism, pulling the trigger halfway automatically rotates the cylinder and releases the cocked hammer. Pulling back the trigger even more releases the cocked hammer. This would allow the user to fire the double-action revolver in one trigger pull. 3.3 How it has evolved 4. Uses Applications 4.1 Self Defence In the US where private gun ownership is legalized, a third of all gun sales can be attributed to handguns, including revolvers (Harris, 2013). Many Americans choose the revolver as a self-defense weapon due to its ease of use, maintenance and general reliability. To fire a revolver, a novice gun owner merely needs to aim and pull the trigger for double action revolvers or cock the hammer and then pull the trigger for single action revolvers. Their simplicity in design allows an average person to shoot safely and competently without much training. They are also relatively more affordable and sustainable due to the ability to withstand neglect (Riverwalker, 2009). 4.2 Combat Military The revolver was first adopted in combat by the Texas Rangers against the hostile native Indians who outnumbered them in Texas (Brown, 2013). Later on it was introduced into the U.S army in 1846 when the Mexican War began as Capt. Samuel H. Walker collaborated with Colt to design a novel and more powerful revolver (Colt Defense LLC, 2013). Throughout US military history up till 1985, revolvers had been the standard firearm, to arm the soldiers on battlefields such as during the Civil War, World War I and II. Although later on they were replaced by higher ammunition and faster reloading semi-automatic pistols, today they continued to be employed largely by guards, Navy Shore Patrol, and intelligence and counterintelligence operatives (Olive-Drab, 2013). 4.3 Sporting Hunting Handgun hunting has become a popular sport and most hunters use revolvers since they provide the reliability needed to hunt all types of big game (Hampton, 2013). Hunting with revolvers is more challenging and hones a hunters skills since the guns have comparatively shorter sight radius and less powerful ammunition. Hunters must also stalk closer to the prey to kill it humanely and this gives it greater chance of escaping from the hunters. A significant amount of practice is required to develop accuracy and marksmanship in revolver hunting (Wilson, 2010). 4.4 Law Enforcement Since the 1870s American police forces have relied on revolvers to arrest criminals and protect civilians. The most popular revolver used in law enforcement history was the Colt Official Police invented in 1927 which sold up to 400,000 units by 1970 (Scarlata, 2011). It was the top choice across numerous American police departments for one third of a century. Although production of this model has ceased today, other types of revolvers still play a significant role as back up and off duty firearms among American police officers. 5. Impacts of the Revolver 5.1 Military As an important tool for the military, the revolver has transformed major warfare in history and especially assisted in westward expansion. In the American Civil War in 1860, revolvers were one of the new and powerful weapons that forced armies to change their battle techniques. The Lemat and Colt revolvers were the most common firearms used. For example, Samuel Colt alone produced 200,000 of his guns for the Union and Confederate troops (Elbehri, 2010). These guns were more accurate and required less time to reload since they could fire multiple shots at one time. Combat at the time occurred at short distances and cavalrymen had to charge into formations of the enemy and use firearms and sabers to disrupt them and spread panic. At close ranges, revolvers were very powerful and handy especially while the cavalrymen were in saddles. This allowed armies to attack enemies more easily and aggressively. After the war, the US military adopted the Single Action Army revolver as the standard firearm and they aided the front troops to fight in the Indian war, Spanish-American War and Philippine-American War (military factory, 2011). In World War I, although the Americans had started switching to semi-automatic pistols, the M1917 revolvers continued to play a key role in filling the urgent need for guns. The British-made Webley revolvers also served as the standard sidearm for British soldiers in the war (Lewis, 2012). This sudden popularity in the armies was due to the revolvers small size which allowed airmen and tank operators to be armed under their space constrained environments (Duffey, 2009). Additionally, given its sturdy design and dependability, it was ideally suited to muddy and adverse conditions of trench warfare (Lewis, 2012). In World War II, the British and American troops continued using .38 calibre revolvers until finally afterwards, semi-automatic pistols replaced the revolvers in most militaries worldwide. 5.2 Societal Impacts Due to the strong gun culture that exists in U.S., this report will only be studying the societal impacts that revolvers have caused in U.S. Among the developed countries in the world today, U.S. has the highest number of gun owners. About 9 in 10 Americans own more than 270 million guns (Alpers, Philip and Wilson, 2013). That is 5% of the worlds population owning 35-50% of the worlds civilian-owned firearms, of which around 30% are revolvers (Stray, 2013). Sadly, the U.S. is also well known for clinching the highest number of gun homicides. The points below illustrated how the gun industry has severely impacted the society. Homicides Gun-rights advocates might be right when they argue that there might not be a connection between level gun ownership and homicide. However, numerous surveys and studies have concluded that there is an association between the number of homicides and gun ownership in developed countries. A study by Hemenway found that U.S. firearm homicide rates were 19.5 times higher than other developed countries (Kenny, 2013). Accidental Deaths In addition, unintentional firearm deaths in the U.S. were more than five times higher than in the other countries. Among these 23 countries, the U.S. accounted for 80 percent of all firearm deaths; 87 percent of all children under 15 killed by firearms were American children. Homes with guns are 12 times more likely to have household members or guests killed or injured by the weapon than by an intruder (Kenny, 2013). Self Defense and Reassurance of Safety However, the revolver  Data from the National Crime Victimization Survey suggest that a gun is used in self-defense  about 60,000 to 120,000 times each year. Several other surveys confirm this estimate. Facilitating Crimes each year about a million violent crimes involve guns This means guns are used to commit a crime about 10 times as often as they are used for self-defense. 5.3 Government 5.3.1 Laws Policy Making The Federal legislation enacted the Gun Control Act in 1968 that defines who was not allowed to possess a gun and barred anyone under 21 years old from buying handgun. However, they guarantee the right to gun ownership by law. There are restrictions though. The   National Firearms Act of 1934  restricts civilians from owning automatic weapons, short-barrelled shotguns, hand grenades, and other powerful arms without appropriate registration. People are free to carry guns both openly or hidden, outside, with the exception of federal facilities where guns are prohibited. The buyer of firearm is not obliged to allow official background checks before taking possession of guns. However, the  Brady Handgun Violence Prevention Act  of 1993 requires licensed gun dealers to perform background checks. Each state may have different jurisdiction, but overall, in the United States, if you do not have a criminal record and have not been adjudicated as mentally incompetent, you can buy guns. 5.4 Economic Impacts Over the years, the U.S. gun industry has been profiting by illegally trafficking firearms into Mexico. However, these firearms were used to arm drug cartels and thus, caused the deaths of thousands of civilians. Nearly 90 percent of weapons seized in Mexico are trafficked from the U.S. The market is extremely strong, especially because of the high demand and lack of strict control in the sale of weapons in U.S. Furthermore, in 2005, the Congress granted gun dealers blanket immunity from civil damages resulting from the misuse. Thus, the tyranny of the drug cartels and mafia reigns on (Kenny, 2013). The gun industry has faced its own share of ups and downs throughout the history but to date, it is still going strong. In 2012, the industry is expected to earn $11.7 billion in sale and $993 million in profit, according to analysts at IBIS World.(Brad, 2012) In 2011, about half of the six million guns manufactured in the United States were pistols and revolvers. Thats up from just one-third in 2001,  according to a report  from First Research.  Rifles now account for 35 percent of the market, with shotguns and other guns making up the rest. U.S. firearms manufacturers will export some $4.4 billion worth of guns and ammunition to other countries this year. The biggest customers are Canada, the United Kingdom, and Australia, who accounted for nearly 40 percent of exports in 2012 (its mainly law enforcement and military agencies doing the buying, as private gun ownership is heavily regulated in those nations). IBIS World expects exports to keep surging in the coming years, with ammunition and ordnance being an especially popular item overseas. The economic impact of the firearms industry is up 66 percent since the beginning of the Great Recession, providing an unexpected shot in the arm for the economy, according to a new study. The  National Shooting Sports Foundation  says the economic impact of firearm sales a figure that includes jobs. taxes and sales hit $31 billion in 2011, up from $19 billion in 2008. Jobs in the firearms business jumped 30 percent from 2008 to 2011, when the industry employed 98,750. The industry paid $2.5 billion in federal taxes in 2011, up 66 percent in three years. Ours is an industry with a rich history and heritage that remains vital and important to the American economy today,  NSSF  Senior Vice President  Lawrence G. Keane  said in a statement. To millions of Americans our industrys products represent liberty, security and recreation. Some in the industry attribute the jump in sales to fears the  Obama administration  will tighten gun control laws in a possible second term. Theres a concern that in the second term the  Obama administration  would lead an attempt to restrict gun ownership,  Mr. Keane  said. That concern, known in the industry as the Obama factor, has led many gun owners to purchase now in hopes of avoiding more restrictions and regulations later. (Devaney 2012)

Pride and Prejudice by Jane Austen Essay -- creativity, liveliness of m

Grappling with "Creative Block" My mind is at times a broken record devoid of nuance. But when I walk outside into the morning sunlight today, the air tastes like smoke. That minute difference jostles my mind. In that moment, I, no longer preoccupied with internal tensions, savor the spirited atmosphere of people hurrying about, the underlying brick road and overlying partly cloudy sky. I hurry to preserve these thoughts, as I feel the inspiration already evaporating from my grasp. Dong! Dong! Dong! The gong reverberates to rhythmic drum beats. The majestic lions' eyes slowly open, and their ears and feet twitch languidly. Da-da dum. Da-da dum. Da-da dum... Da, Da da, Da dum, Da Dum, DA DUM! Inside each lion, two dancers spring to life and explode with power and energy. In the background, instrumentalists conduct drums, cymbals, and a gong into an unstoppable, steady rhythm that elicit the lions' liveliness. Da, Da, Dum. Da, Da da, Dum. The lion heads sweep down toward the floor in a circular motion and punctuate the air with its presence, warding away evil spirits. Acrobatic martial arts moves, such as "towers" that involve one dancer lifted on top of another, elicit excited gasps from the audience. Lions then prowl among audience members in "low walk," their noses muzzling surprised faces and eyes blinking ferociously. To summon good luck and fortune, lion dancers shower the audience with lettuce at the end of the performance. Even as the lions run across the stage in "high walk" and crumble into sleepiness once more, the energy of the performance still lingers in the air—as lion dance has done since its inception approximately 1,500 years ago (Hulsbosch 112). April 5, 2014. 10:00 AM. I and two fellow Columbia Lion Dance ... ... Kaufman, Scott Barry. "The Real Neuroscience of Creativity." Scientific American. Scientific American, 19 Aug 2013. Web. 7 Apr. 2014. . Khatchadourian, Raffi. "Onward and Upward with the Arts in the Picture: An Artist's Global Experiment to Help People be Seen." New Yorker. 28 Nov 2011: 58-63. Web. 29 Mar. 2014. Montaigne, Michel De. Translated by J. M. Cohen. Essays. London, England. Penguin Books. 1958. Print. Taylor, Diana. "'You Are Here': H.I.J.O.S. and the DNA of Performance." The Archive and the Repertoire: Performing Cultural Memory in the Americas. Durham: Duke University Press, 2003. 161-189. Print.

Case Application Fast-Forwarding Blockbuster Answers Essay

ABSTRACT This study was conducted to determine the consumer preferences of international brands over local items. This research is design to find out the buying behavior of young consumers. This paper examines consumer preferences and attributes of decision making in segment of respondent in Vehari, Pakistan. A number of factors affect the consumer purchase decisions. The results suggests, that group of consumer prefer the attributes like, Quality, Price, Social Status, Design of products. It also suggests the preferences for foreign products over local products. The research was conducted in Vehari and the sample selected 65. The data collected for research was through a questionnaire and was conducted in CIIT Vehari Campus since the target audience was largely the youth. Key Words: Preferences of international brands, Quality of products, Price of products, Social status, Design of the products. INTRODUCTION: This research is proposed to the consumer preference of international brands over local production. The biggest factor that changes the consumer purchasing decision is quality when they prefer international brands over local brands. Consumers are more information about other culture, lifestyle and brand. On the other hand electronic sources are available to access international brand information in seconds. In last few years increasing of globalization had made intensely impact on market and also on consumer choice. Through globalization companies have advantage to participate in international market and approach to new consumer markets. The main purpose of this study is to find the factors that are influencing consumer’s living in Vehari and their choices of purchasing international brands over local brands. The main objective of this study is to learn about how country of origin effect and change the choices and willingness of the consumer. This research will investigate the purchasing behavior of Vehari consumers towards international brands over local products. Country of origin of any product tells the reputation of the specific country. It also shows the national characteristics, economics, political background, social system, tradition and history of any particular region. In short country of origin is overall perception of the consumer about particular country. It is necessary to establish parameters to measure the consumer attitude toward consumer preference on international brands rather local brands. However, for some products and services â€Å"the tastes and preferences of consumers in different nations are beginning to converge on some global norms† (Holt, 2002). Consumers seem to value and admire global brands and regard such brands as a status symbol, from a consumer perspective brands may vary (Ismail, Masood, & Tawab, 2012). The preference of brand depends on best alternatives among availability (Tversky & Shafir, 1992). One goal of consumer is accurate selection results in value satisfaction (Bettman, Luce, & Payne, 1998) it is not just depends on judgment of any single attribute of a product (Elliot & Cameron, 1994). In other context, scholars argue that local cultures are yet very powerful force shaping consumers preferences and but some identify a tendency in consumers â€Å"hybridize† (Holton, 2000), â€Å"glocalize† (Ritzer, 2003) or â€Å"creolized† as a way to combine global and local cultural forces have impact. International and global brands can be defined as the multi market approach in consumer markets (Johansson & Ronkainen, 2005) while local brands defined as the local manufacturing’s approach to consumer markets. Today is ages of globalization so business are become international and cross national that why customers mostly recommended and preferred the international brands due to their top quality, user friendly and customer oriented products (Netemeyer, 1991). Purpose of the Study The main purpose of our study is to find the factors that are influencing consumer’s choices of youth of purchasing international brands over local brands in Vehari, Pakistan. There are many factors which influence consumer decision. Such as quality of products, price of products, social status, design of products. The study is also designed to find out the buying behavior of young consumers, attitudes towards international brands and local items and preference for international brands. LITERATURE REVIEW: Hornsby (2010) was saying that the purchasing process of consumer mostly depends on the attributes and features of the product. In many situations consumers search alternatives of the products and these alternatives and substitutes are foreign made so consumer decide that he or she use foreign products and these products can fulfill their needs and wants. In foods items there are few attributes which affecting the purchasing decision of the consumer, like appearance and price of the food. If foods items are fresh and their appearance is nice so consumer easily influence and want to purchase these food items. On the other hand price is another factor which influences the perception of the consumers. Price of the product made either good or bad impact on consumer. If product is expensive but its attributes and features is quite different rather than other product and also fulfill the demand of the consumer than consumer will be satisfy by that product and purchase it again and again. He also described that some consumers are very conscious about the manufacturing of the product. Made in image deep and strong impact on consumer purchase decision. If any product which is foreign made that easily influence the consumer rather the domestic product, that’s why now a day’s labeling or made in Japan, made in U.S.A and made in U.K is liked by consumer and prefer over the local manufacturing because foreign products have high quality, new technology and very durable and reliable. Past studies and survey are mostly based on above three attributes (price, appearance and county of origin). These are key features of the any product which affect the consumer choice and willingness. In different survey participants highly ranked these three attributes about their purchasing decision and shopping habits. Al-Mamun & Mahmud (2011) were saying that consumer behavior can be easily influenced by the factor of country of origin because in domestic and international markets foreign products are dominated by their high quality and new technology. This is true facts that every consumer evaluates domestic and foreign products through quality and features of the product. Previous research shows that such characteristics as quality, durability, appearance, prestige, safety, price, availability and risk affect consumer evaluation of product quality and has a significant impact on consumer’s purchase preferences. Shah and Khattak (2011) said that consumer preference is directly relate to the economic growth of the country of origin. The concept of good quality is the sign of economic development that is the reason consumers of developing country prefer more foreign products rather the local brands because good quality is the sign of developed countries. Because consumer not compromise on quality the consumer may pay for local product which are of high quality rather foreign products ignoring prices. It is an empirically improved that if a foreign brand with its original producer become weaker with the passage of time as the brand started to be produced locally. In developing countries like Pakistan, India and Saudi Arabia foreign brands are not prefer only because of quality but are preferred for status quo, ego. It is also proved that education, life style also in favor of imported products. Merino & Gonzales (2008) said that many organizations have changed their strategy by knowing trends of globalization which focus on global brands rather multi marketing approach. Global brands have not one line definition, but previous studies define as multi market reach of products that are perceived as a same brand worldwide by customer. However brand is a communication of information, a consumer perceived to identify it. Communication stimulates active knowledge of the brand presence, relevance, performance, advantages and bonding (Consumer feel the brand is only one that offer key advantages). Previous research proved that understanding the differential advantage, which global brands may have on loyalty drivers in context of Latin American markets. The consumer recognizes advantage of global brand by differentiation and enhanced quality, in other hand local brands are perceived by customer in term of fair price and popularity. That is why Brazilian seem to be more open to global brands rather than Mexican and Argentinean customers prefer local brands. Ismail, Masood & Tawab (2012) said that the most important factors that influence a consumer’s final decision are the price and quality of the product. Because the consumers usually relate the price of the product with its quality, a brand priced too costly is generally perceived as a high quality product. Similarly, a product priced too low affordable by many but perceived quality is low. Globalization also contributes to enable worldwide organization in one single market. Other factors which influence on the consumer preference include; consumer ethnocentrism, country of origin, social status, price relativity with the competing brands and family and friends. Study exposed that the quality of the product has more impact on purchase decision of the customer to buy global brands. In practice, our people, especially the females were found to be extremely prone to the global brands to meet current fashion and trends. Status symbol is also a factor influencing on customers to buy imported products. Ho, Teik, Ing, Phing & Peng said that customers influence to buy global brands in search of status and perceived quality. While globalization is the success factor of many large organizations, local companies can also obtain competitive advantage through profound understanding globalization. Global brands are more likely to be preferred by consumers as they have the ability to associate status, wealth and prestige with the self-identity of a consumer and further enhance social standings in a social class. Perceived quality is the subjective judgment of consumers towards a product or brand superiority and distinction. The most influential factor among social motives for consumer shopping and purchasing decision is the enveloping desire for social status. Malaysian customers overall perceived quality of Toyota automobiles were found to have significantly higher perceived quality and status than Perodua automobiles. Theoretical Framework: The dependent variable â€Å"preferences of international brands† can be explained by four independent variables; (1) quality of the products (2) price of the products (3) social status (4) design of the products. Consumers of developing countries wants to purchase the products of developed countries because they thing the products of developed countries has high quality. Consumes relate the price of product with its quality, they thing that the product of low price has the low quality and a product which has a high price has a high quality. Products of developed countries are measured as indication of high social status. Consumers are also prefers the design of the products if the design of the product is good than consumer purchases it regularly. Schematic Diagram for the Theoretical Framework Variables Independent variables: âž ¢ Quality of the products âž ¢ Price of the products âž ¢ Social status âž ¢ Design of the products Dependent variable: âž ¢ Preference of international brands Hypotheses H1: There is a positive relationship between consumer purchasing attitude and quality of the products. If the quality of a product is high than the attitude of consumer toward a product is positive and if the quality of a product is low than the consumer response is negative to purchase the product. H2: There is a negative relationship between price of the product and consumer purchasing attitude. If the price of product is high than the consumer attitude towards a product is negative and if the price of the product is low than the consumer attitude towards a product is positive. H3: Consumers prefer the international brands because it adds to the social status of consumers. Consumers will prefer the products manufactured by a foreign owned company because it adds to the social status of consumers. H4: Design of products has also positive relationship with consumer behavior. The design of a product made impact on consumer purchasing design. If the design of a product is good then customer purchases it frequently. Research Methodology: Data Collection This research is conducted through regression analysis. In this research it is needed to understand the consumer perception of international brands over local items. The tool of our research is questionnaires; this is primary research because this is firsthand knowledge or information. The research is conducting on why consumers prefer the international brands over local items of Vehari, Pakistan. The data has been collected through questionnaires and each questionnaire contains nineteen (19) statements and the questionnaire have distributed in CIIT Vehari Campus. The sample for this research included 65 consumers. Simple random sampling is used for this research for data collection. Results and Analysis: Table # 01: |Model Summary | |Model |R |R Square |Adjusted R Square |Std. Error of the | | | | | |Estimate | |1 |.527a |.278 |.230 |.90372 | |a. Predictors: (Constant), design, social status, quality, price | From model summary of regression analysis it is evaluated that all independent variables (quality, price, social status & design) affect dependent variable (preferences of international brands) 52.7% as mentioned in table 1. Table # 02: |ANOVAs | |Model |Sum of Squares|Df | |b. Dependent Variable: preferences of international brands | | | The results of this research are more significant. Data used in this research providing accurate results as shown as .001 in ANOVA (table 2). Table # 03: | | |Coefficients | |Model |Unstandardized Coefficients |Standardized |t |Sig. | | | |Coefficients | | | | |B |Std. Error | Finally regression analyses describe the relationship between dependent variables and independent variables. It also describes their relation structure, whether they have positive relation or negative. Regression analyses show that quality, social status and design have positive relation with preferences of international brand, with the increase in one unit of all there become positive change of .662, .120 and .100 occur respectively in dependent variable. The quality have positive relation with consumer preferences because the consumer perceived that the international brand have more quality rather than local items. The social status has positive relation with consumer’s preferences of international brands because consumers perceived that they increase their social status in society through the use of international brands. The price of products has also positive relation with consumer’s preferences because consumers perceived that the design of international brands is better than local items. On the other hand price has negative relationship with dependent variable, with the increase in one unit of price there become -.275 changes occur in preferences of international brand. The price of products has negative relation with consumer’s preferences because consumers are not preferred the international brand if it has same price as local item. Recommendations and Suggestions Our local brands have not so good quality, their design is not well and there is no much variety in our domestic products that’s why our customer goes to purchase the international brand so frequently. Local companies charge more price because government of Pakistan charge value added tax and other type of taxes from domestic companies so companies increase their prices that’s why customer mostly purchase international brands due to their good quality, designs and lot of variety. Conclusion: This research is an important contribution consumer’s preferences literature. This research concluded that consumers of Vehari, Pakistan have a stronger and positive image about the international products. The feel a personal pride when have the international products. 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