Kpmg Analysis

An overview of what the company does its history and its product/service range KPMG is a multinational leading professional services firm, which deals with both audit and tax with over 10,000 partners and staff. They have achieved a vast amount of awards for both employment and health and safety, and this in turn reflects their dedication to excellence in their services. In 2008, KPMG merged with other firms in Europe, which formed KPMG Europe LLP. This therefore makes the company the largest integrated accountancy firm in Europe, with the headquarters based in Frankfurt. KMPG has a wide range of human resources, and these results in a diverse and highly skilled workforce. Furthermore, it can be seen that KPMG treat their workforce as an intangible resource, and this contributes to the firm’s competitive position. KPMG deal with three key areas: audit, tax and pensions and advisory. Their audit department deals with decision making within capital markets (KPMG, 2011 p. 1). Therefore, they provide a service to stakeholders, by ensuring that they are able to independently audit organizations. Their tax and pensions function helps individual organizations to reduce their tax burden and to ensure they meet the highest levels of compliance. Therefore, this involves key areas such as corporate reputation, pensions, and effective tax rates. Finally, they offer advisory support, which supports businesses through their business life cycle. This therefore helps and encourages firms to develop within regulatory environments. An analysis of the firm’s macro-environment Table 1: PEST analysis Political Increased governmental regulation. Increased taxes reducing consumer spending and corporate spending. Focus on environmental governance for example: environmental auditing. Economic Difficult and restrictive economic times. Businesses closing down on the UK high street. Unstable economic times, which has resulted in an increased focus on the financial sector. Social Consumer demand for CSR. Social concerns over the stability of the economy – this result, in firms such as KPMG coming under increasing scrutiny. Technological Integration of economies – the need for global expansion. Boundless economy – technology has facilitated 24-hour communication across borders. Advances in technology, which can be used to promote the detailed nature of KPMG’s services. The PEST analysis highlights a dynamic environment, which is ever changing. In particular, it can be seen that the company must utilize strategic tools to understand and deal with many of the issues presented in the PEST analysis. At present, the main difficulties facing the firm are in the economic and political environment. The economic recession has resulted in a scrutiny of the financial sector, and this in turn demands a need to offer an increasingly integral service. Furthermore, the secondary result of which has been increased regulation, which, not only affects KPMG itself but the many services it offers to its clients. An analysis of the company’s microenvironment Figure 1: Porter’s Five Forces Porter’s five Forces model is an excellent tool for understanding how powerful is a company in its particular business environment. It is very useful, because it can recognize the business’s strength in the competitive market and the possible future position will occur if the company thinks to change its plans. As a result the firm can take benefit in a condition that has power; also it can avoid any wrong steps in the future. On the other hand it can improve a situation that seems to has weaknesses. †¢Competitive rivalry: As KPMG belongs to a market that can be defined as oligopoly; the level of competition is not too high. This kind of market is controlled by the â€Å"Big Four† because they share a huge proportion of the market. Because of this the firms have the power to have high fees. †¢Power of Suppliers: The main purpose of KPMG is the provision of services. As a result of this, the major asset of the business is its own individual’s employees and members. For that reason the firm should seek to keep and extend its talents and trying to hire more qualified accountants. †¢Power of buyers: Customers are powerful in that kind of market. They can easily switch to another competitive firm because the costs of doing this aren’t too high. In addition the services provided by the â€Å"Big Four† are similar and with the same standard and this makes even easier the decision of a customer to move to a similar firm. †¢Threads of substitutes: The thread of possible substitutes in the accounting services is very small because there are not obvious substitutes of those services in the market. †¢Threats of new entrants: The market is conquered by the â€Å"Big Four† so the barricades of new entries in the market are very high. However, it is more common that small firms do not choose one of the big firms. As a result of this there is some space left for new small companies to enter the market. Table 2: SWOT Strengths 1)Asset leverage 2)High research and development focus. 3)Areas of online growth. 4)Strong management team, substantial focus on HR. )Strong brand equity 6)Strong financial position, which allows the firm to internationalize. 7)Strong European presence. 8)Competitive pricing of services. Weaknesses 1)Weak focus on real estate. 2)Vulnerability to litigations over gross negligence in audit practice. 3)Over-reliance on European market – need to understand more developing markets such as China and India (Wilson and Purushothaman, 2003 p. 19). Opportunities 1)Product and service expansion 2)Entry into emerging markets. 3)Future acquisitions. 4)Increased expenditure on infrastructure could increase demand for advisory services. Threats 1)Dynamic and competitive environment. 2)Increased regulation, resulting in a need for a throughout service. 3)Exchange rate fluctuations 4)Changes in the economic environment. 5)Global economic slowdown. The SWOT analysis indicates that the firm has strengths, which aid their position in a competitive market. Furthermore, it can be noted that the firm use such strengths to position themselves in the marketplace; in turn this promotes the resource-based view of strategy which focuses around the notion of ‘core competencies’ (Barney, 1991 p. 99). The threats outlined can be responded to by reviewing the macro environment, and the implementation of strategic tools, which may help to overcome any weaknesses. Finally, the opportunities outlined suggest that the firm should internationalize outside of Europe, this would extend the firms client base, and would allow them to tap in to developing markets such as China and India. This is in line with the BRICS study (Wilson and Purushothaman, 2003 p. 19): which, indicates that by 2050 China will be the world’s largest economy. Thus, an appreciation of the Eastern world is needed by KPMG to ensure success in the future. Evidence of an audit of key competences within the company The first key competency KPMG have is ‘reputation’ this is an intangible asset and one, which sees KPMG respected for a high caliber of services. This is the result of professional, and skilled staff, and a vast extent of knowledge, which can be applied to a vast array of business situations. Reputation is needed when offering such services which, require throughout and exact processing, for example: firms trust KPMG to handle aspects such as Tax and financial advisory, and thus often reputation is a key driver of success in this market. This is linked to the competency of professionalism, in which, strong ethical values of integrity and honesty provide the foundation for the firms work. Moreover, a key competency of the firm is their ability to develop a strong and skilled workforce. A focus on staff as an intangible resource; is something which aids the firms competitive advantage. For example: as Barney (1991 p. 99) notes: it is important that a firm have competencies which are unable to be imitated by their competitors, this in turn allows the firm to gain a strong position in the market and reduce competition. Therefore, it can be seen that the firm have a key competency of transforming the HR system to one which supports overall organizational learning, this is seen as something which supports competitive positioning (Pucik, 1988 p. 1). Accountability is a competency, which drives KPMG’s success. First and foremost, the company is operating in a dynamic, which demands transparency. Thus, the firm can be seen to take accountability for their actions, and this is something, which is supported by the firm’s organizational culture. Organizational culture is defined by Schein (2010 p. ) as ‘the shared norms and values, which are deeply rooted within an organization’. KPMG have a positive culture, which is upheld by values of customer service, customer satisfaction and the building of strong and meaningful relationships. Organizational culture can be seen as a competency, as it values can be translated into tangible resources such as increased clients, and stronger ex ternal relationships. This is linked to KPMG’s focus on making an impact, their clients expect the firm to make an impact and in turn build strong business relationships. Therefore, a strong organizational culture, which upports such values, supports the overall strategic direction of the firm. Needed in a dynamic environment, is the ability to be flexible and problem solving in an open, and innovative manner. These are two competencies which KPMG can be seen to have, in particular these are competencies which highlight how the firm has a key aim to be able to analyze complex data and reach an appropriate solution, in a manner which is simple for their clients to understand. Thus, in summary, it can be seen that the firm have an ability to translate their key, core competencies to contribute to the strategic success of the firm. The most important competencies to the firm are those, which are intangible in nature, as these are aspects, which cannot be imitated easily by their competition. In turn, such intangible resources often result in tangible results, as we can often see a link between the two. For example: higher levels of customer service are likely to result in a larger client database. A forecast of likely future prospects for the company’s market and recommendations as to how it should react to potential changes The ability of a firm to respond effectively to change is vital to the modern day organization operating in a dynamic environment. KPMG have a strong focus on their human resources, and this has resulted in the development of a workforce, which are committed to the strategic goals of the firm. Thus, as Hayes (2010 p. 12) notes a flexible workforce is needed to remain competitive, and therefore the firms reaction to any potential changes in the market is likely to be aided by their investment in their staff. KPMG’s future market is threatened by increased regulation. For example: in 2007 the company was found guilty of criminal wrong doing with regards to tax fraud (Department of Justice, 2007 p. 1). Such ethical wrongdoings damage company reputation, and this in turn is something, which is likely to affect the future of the firm. A firm such as KPMG gains a vast amount of business from reputation, and thus any damage to such may have a negative effect on their future clients. Therefore, in order to respond to increased regulation, the firm must ensure the highest ethical conduct at all times, and high levels of transparency. In addition, KPMG’s clients are faced with increased legislation regarding business reports, and thus, this promotes a need for a thorough service from the firm. Changing legislation will have a result on the firm itself, and increased expenditure is likely to be needed to ensure that all workers have the skills necessary to carry out an effective service. With regards to the external environment, developments in trends are resulting in future changes for the company. Firstly, the company is offering in a dynamic environment, and therefore is required to thrive and not just simply survive. In order to respond to competition it is important that the firm looks forward to the future, and implements a system of strategic planning. In turn, the firm should seek to provide accurate and insightful information to all of their clients, which will result in the firm adapting the finance function to enable their clients to survive during turbulent, economic times. Moreover, due to the economic climate, the needs of their consumers are changing. In order to respond to such a trend, KPMG must simplify complex business issues in a manner, which promotes a greater alignment of business processes. Many firms in a difficult, economic environment often have a short-term focus, and this is something which KPMG themselves need to steer away from, and something which they have to dis-persuade their firms from doing so. Instead, a focus on sustainable business is needed which, in turn will enable more than just reduced short-term costs. Thus, in summary the economic climate has created a difficult environment for both KPMG and their clients, and in order to survive such times and prosper in the future, the firm must position the company in a manner, which promotes success. The final trend portrayed in this section is an increased focus on corporate social responsibility. This is something which is required both from the company itself and it can be seen that KPMG’s CSR actions may influence the decisions of their clients. At present, KPMG have a strong belief that social responsibility and business success go hand in hand, and thus promote charitable donations, volunteering from their workforce and a key emphasis on the environment. In the future, a greater emphasis will be put on corporate social responsibility, and KPMG must respond to such changes by conducting environmental audits, promoting stakeholder theory, and an overall dedication to the cause. Strategy can be used to conduct external analysis, and such analysis will enable a firm such as KPMG to respond to future changes in the market. For many firms, their relevant success or failure is dependent on the ability to strategically align themselves to the external environment (Henry, 2007), and as many markets, in particular the financial market are as dynamic as ever, it is important that the firm are able to discern any trends which may later alter the firm’s strategy. As shown in this paper, the environment consists of both the macro and microenvironment, and this in turn is something, which promotes the complexity of the market. In turn, it is often thought that the competitive environment is the one, which has the most direct impact on the firm; however, it is the more external macro environment, which creates the most problematic situations for the firm, in particular, if a firm is unprepared for change. Dill (1962 p. 12) states that ‘at the one level the environment is not a very mysterious concept, it means the surroundings of the organization, and the concept becomes challenging when we try to move from its simple description to an analysis of its properties’. Thus, it is recommended that KPMG partake in environmental analysis in order to provide the companies with the opportunity to discern trends, and then from these trends create strategies, which enable the firm to best position itself. By using internal strategic capabilities such as reputation, the firm may be able to diversify into other markets, which are noted as being both less challenging and competitive. The prediction of the future is difficult, and is always uncertain due to discontinuities. However, by scanning the environment, the firm can be able to detect any weak signals, weak signals are those trends which ‘may be largely insignificant due to the fact that there impact is yet to be felt, however, the careful monitoring of such can result in the firm being better strategically adept for such uncertainties’ (Henry, 2007 p. 8: Van der Heijden, 1996). Van der Heijden (1996) notes how there are three different types of uncertainties, which all play a part in the external environment. These being: structural uncertainties, risk, and unknowable. Of these both structural uncertainties and unknowable’s are the two most difficult to comprehend, due to the fact that these are events which either cannot be imagined or do not offer any evidence of such a probability. Thus, noted in the literature, is the tool scenario planning (Schoemaker, 1995) which, can be used to deal with even the most unimaginable of events (Porter, 1998). If KPMG were able to adopt the concept of scenario planning, they would be more likely to gain a strong competitive position. Scenario planning is a tool, which can be seen to ‘stand out’ due to its ability to ‘capture a whole range of possibilities in great detail’ (Schomaker, 1995). Thus, it can be seen that scenario planning aims to overcome the under and over prediction of change, it does so by adopting a middle ground, in which, it considers both unknowable and uncertain events. Word count:2546 References Barney, JB (1991) ‘Firm resources and sustained competitive advantage’. Journal of management, 17 (1) pp. 99-120. Department of justice (2007) ‘KPMG to pay $456 million for criminal violations in relation to largest ever tax shelter fraud case’ [online]. Available from: – http://www. justice. gov/opa/pr/2005/August/05_ag_433. html [Accessed 18. 03. 11]. Dill, W. ‘The impact of environment on organizational development' In Mailick, S. and E. Van Ness (eds) Concepts and Issues in Administrative Behavior. Prentice-Hall, Englewood Cliffs, NJ, 1962. Henry, AE (2007) ‘Understanding strategic management’. Oxford University Press: Oxford. KPMG (2011) ‘What we do’ [online]. Available from: – http://www. kpmg. com/UK/en/WhatWeDo/Pages/default. aspx [Accessed 19. 03. 11]. Porters fives forces model : Industry analysis model [online]. Available from: http://www. learnmarketing. net/porters. htm [Accessed 21. 03. 11] Porter, ME (1998) ‘On competition’. Harvard University Press: Harvard, Boston. Pucik, V (1988) ‘Strategic alliances, organizational learning, and competitive advantage: the HRM agenda’. Human resource management, 27 (1) pp. -16. Schein, EH (2010) ‘Culture and leadership’. John Wiley and Sons: London. Schoemaker, PJH (1995) ‘Scenario planning: a tool for strategic thinking’. Sloan management review, 36 (2) pp. 25-32. Van der Heijden, K. (1996), Scenarios: The Art of Strategic Conversation, Wiley, New York, NY. Wilson, Purushothaman (2003) ‘Dreaming with BRICS: the path to 2050’. Global economics paper 99, [online]. Available fr om: – http://antonioguilherme. web. br. com/artigos/Brics. pdf [Accessed 20. 03. 11].

Compact Bedford Introduction to Literature Essay

T. C. Boyle’s â€Å"Carnal Knowledge† narrates about the life of Jim, his character and feelings. The use of irony indicates about the real life events and how Jim encountered them. Use of Irony shows how Jim faced tyranny and revealed about his character. Irony is used at different points in the story. Thesis: The use of Irony in this story depicts how man tries to gain love and other materialistic things in life but how events lead to misfortunes and undesirable results. Normally true relations never develop if they’re based on lies and fake attitude. The narrator describes about the meat in the supermarket and it is the first point when Irony is used. He desperately describes the delicious ways in which meat is consumed and an indication how he loves meat and he’s not a vegan. Jim is totally inclined towards the taste and not worried about how the animals are killed. In another instance irony is used when he meets with Alena and Alf. When Jim in out on dinner with Alena, again he had no meat to eat because of Alena’s involvement in animal protection. Irony usually results from person’s own faults in character. Alf peed on Jim. There is he met Alena. Appearance of Alf was another point of irony for him as the dog peed on him. Then later dog tried to attack on him. Jim is not very caring about animals. But when he meets Alena, he does care but not for animals but only for Alena and to prove to be ‘so good’ that he cares. Though he loved to eat meat but he decline to admit in front of Alena that he eat meat and pretended that he’s a vegetarian. It was his irony that he was deprived of having meat in meal in order to show Alena that he’s the same like her and she might got interested in him seeing all these characters. The narrator is also left in irony when he was in turkey farm. Irony was used at this point when Jim’s feelings were hurt as he was left in the farm. Jim tried to save turkeys. Though he did his best to become a good heroic image in the eyes of Alena, but still she did not pay any attention to him and cleared this point to him that there is â€Å"no’ relation between us and our purpose is only to save animals. While saving turkeys he felt more like hungry then wanting to save them. At farm Jim had to handle all the core tasks while his beloved was away with other cores. Though Jim tried to impress Alena with his lies but did not succeed. It was Alena’s love for animals and that’s for she cared. She never thought about meat and the taste. But Jim’s focus was meat and the taste it gives in different forms. Jim’s irony was that he never got what he wanted to be in Alena’s eyes. Conclusion In the â€Å"Carnal Knowledge† irony is used in terms that despite his all efforts to become so good in the eyes of Alena his endeavors were wasted. His character does not seem to be realistic. He lied to prove himself good. He was not really a good person but he tried to be good just to have more attention from Alena, and finally all his efforts were wasted. Works Cited T. C. Boyle’s â€Å"Carnal Knowledge† In Compact Bedford Introduction to Literature, Seventh Edition, p. 267

Managing performance Essay Example | Topics and Well Written Essays - 3000 words

Managing performance - Essay Example At the forefront of issues and challenges that many if not all great companies of the 21st century are confronted all pertain to its workforce particularly the areas of discipline and efficiency. Much has been undertaken and usually at great expense to effectively manage discipline and employee productivity. The fundamental principle in managing companies big or small is to manage a company’s performance you have to manage the performance of its employees, officials, supervisors and managers. This leads to the question what is managing performance? Most if not all views and general opinion regarding this idea all refer to the handling as to how a company’s ability to meet its goals. This is usually forwarded by looking into the nature as well as objectives of its employees to better motivate them as well to make the company’s part of their long term goals. To an extent â€Å"performance management includes activities to ensure that goals are consistently being met in an effective and efficient manner† (McNamara, n.d.). It must be noted that the underlying fact is to be able to attain this by improving as well effectively managing the human element in a corporate setup. To arrive at a better characterization of managing performance it needs to put into context the said term in relation to the main focus of this paper. Moreover due to the complexity, multi – dimensional and multi level nature of managing performance it is necessary to narrow dow n any and all succeeding expositions. This in no way set to underscore the fact that all that the term managing performance encompasses as well as all the attached disciplines as well as topic areas are equally important. The point is to have focus as well as a refined discussion of managing performance in the context of this paper. Due to the explanative necessities of this paper the fundamental questions will also serve as the main objectives of the paper’s discussion. Moreover main discussion

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Principles of Economics - Assignment Example Thus, the price of goods to be sold to them shall be cheaper. Conversely speaking, tourists are less likely to question and be discouraged by imposition of higher prices of goods since they are just visiting the college town. Thus, local residents shall be offered goods and services at lower prices as compared to visitors’ prices of similar goods. Further, locals should be the only ones aware of the pricing difference. They come very often and I am able to make relationships with them brings more revenue to the business. With my price discrimination strategy, I would not only help with the revenue of my business. More importantly, I would also make a profit and gain more customers. 2. Suppose the cable TV industry is currently unregulated. However, due to complaints from consumers that the price of cable TV is too high, the legislature is considering placing a price ceiling on cable TV below the current equilibrium price. If the government does make this price ceiling law, dia gram and explain the effects with supply and demand analysis. If the cable TV company is worried about disgruntling customers, suppose that the company may introduce a different type of programming that is cheaper for the company to provide yet is equally appealing to customers. Explain what would be the effects of this action. - Price Ceiling is actually a government-imposed limit on the price charged for a product in a particular industry. Governments usually require price ceiling to protect consumers from conditions that could make necessary commodities impossible. However, a price ceiling can cause troubles if imposed for a long period without any controlled rationing. Price ceilings can generate negative results when the correct solution would have been to increase supply. In the example given, the price ceiling has a considerable impact on the market. Cable TV Company finds that it cannot charge what it had been before the imposition of price ceiling. This may result TV Cable Company to drop out of the market. The consequence will be a reduced supply. Meanwhile, customers and/or consumers suddenly find they can now buy the product for less, so quantity demanded increases. These two events results in the quantity demanded which may exceed the quantity supplied. This may cause a shortage unless rationing or other consumption controls are imposed. 3. Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if demand for the product rises. - A perfect competitive market is filled with buyers and sellers so nothing can affect the market price. If the demand of the product falls it is tolerable because the firm does not pick the price, the firm just chooses how much to make at the given market price. The firm does not lose anything. If the demand for the product increases the n the firm benefits of course and the price is not changed. There is no need to cut the price to sell more because the firm picks the amount they are willing to sell; if the price is increased buyers will fall off. Â   4. Discuss why some long-run average cost curves are steeper on the downward side than others. Discuss fully. - Long run average cost curves show the economies and diseconomies of scale of a specific firm. So when a firm gets

Aristotle Assignment Example | Topics and Well Written Essays - 500 words

Aristotle - Assignment Example Nicomachean ethics derives its name from Aristotle’s son, Nicomachus, for whom the books were dedicated. The central point in Nicomachean ethics is the question of the nature of a good life and how best man ought to live a good life on earth (Kraut, 2006). Aristotle’s answer to this was very fundamental in the development of virtue ethics in modern day philosophy. Nicomachean ethics begins by reflecting on whether there is an ultimate goal that all human life aims at. This goal is the ultimate good that all men hope to enjoy in their lifetime. According to Aristotle, such a goal must be complete, self sufficient, final and continuous. Aristotle concluded that the ultimate good upon which all human life should be based in happiness. The main objective of Aristotelian ethics is to find out how best one can achieve happiness. Human beings can achieve happiness when they live a virtuous lifestyle. Aristotle defines virtue as a disposition for one to act in the right way for the right reasons and derive happiness from acting rightly. Virtue is a mean between deficiency and excesses in ones actions. Actions must also be done voluntarily in order for them to be judged to be either good or bad actions. Virtue must emanate from an individual’s conscious choice and must have a purpose. In Nicomachean ethics, Aristotle discusses various virtues including courage, justice, temperance, patience and moderation (Kraut, 2006). Nicomachean ethics discusses various themes such as virtue and happiness, moral education, friendship, and the doctrine of the mean (May, 2010). These themes are spread across all the ten books that make up Nicomachean ethics. Virtue and happiness form the largest part of the discussion on ethics. Virtue leads to attainment of the ultimate goodness of human life, happiness (May, 2010). Another important part of Aristotle’s ethics is moral

Motivational Strategies Essay Example | Topics and Well Written Essays - 1000 words

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Milgram Study findings and importance Essay Example | Topics and Well Written Essays - 2000 words

Milgram Study findings and importance - Essay Example Milgram experiment involved three main characters, namely the experimenter (E), the subject or the teacher (T) and the learner (L). The experimenter (authority) and the recipient or the learner plays some secret roles, not to be known by the subject. The subject is made to believe that for every wrong answer the recipient is subjected to some electric shock, however, in reality; the learner was never subjected to such punishments. The learner who should be an actor plays some pre-corded sound to convince the subject that he/ she actually receives the electric shock. The teacher and learner are put in two separate rooms where they do not see each other, but can communicate to each other. The teacher is provided with some words to teach the learner. The teacher was made to read the initial pair of words then enables the learner to predict the possible match, the teacher also reads for possible answers; then the learner gave his/ her feedback by pressing a certain button to select the correct answer. The teacher would then execute some electric shock to the learner, for every wrong feedback, the shock increased by about 15 volts as the test progressed. However, could the learner give the correct answer, the subject moved to the next question (Walton, 2009). The learner could complain about the heart condition to convince the subject that he/she is receiving an actual electric shock. Furthermore, he banged the wall as a response to the shock stimuli. A subject was expected to stop the test after subjecting about 140 volts to the learner. It was at t his juncture that the subject would actually inquire what the experiment was about. Some subjects offered to continue with the test only after assurance that they would not be held accountable for all the damages on the learner, some laughed it off while some were stressed or depressed on learning that the learner is actually hurt. At some point, the subject wished to stop out of moral belief that the learner was in actual pain, but the experimenter or the authority would order him/her to continue. However, the experiment was stopped should the subject make four or five successive attempts to stop or after subjecting 450 volts of electric shock to the learner, on three successive operations. The experimenter would always assure the subject that the learner would not suffer any permanent tissues damage; hence he was to continue until the learner learnt all the words. To ascertain the result of the experiment, Milgram selected about 100 senior psychology students to determine the response among the 100 subjects or hypothetical teachers. It was found that only three su bjects out of the hundred would continue with the experiment, until the maximum voltage of 450volts was executed to the learner (Moore, 2004). Milgram also selected about forty psychiatrists who ascertained that majority of subjects would quit the test after subjecting the learner to a ten successive shock executions. They also found out that after reaching 300 volts, most subjects would stop the test once requested by the learners, and only three out of the hundred subjects would continue with the test even after the learner stopped responding to the questions, out of the pain from electric shock. It was clear the very few subjects were willing to execute full voltage to the learner, out of moral beliefs. Furthermore, at some point majority of subjects inquired the implication of the experiment, and were willing to give back the amount they were paid. This was out of pity or remorse to the inflicted learners. Subjects demonstrated some degree of stress and depression during the exp erimental session. The majority was sweating, groaning, biting their lips

Pollock, Gottlieb and Newman Essay Example | Topics and Well Written Essays - 500 words

Pollock, Gottlieb and Newman - Essay Example Varese’s music on the other hand emphasized timbre and rhythm where he group certain rhythm into a new definition of music called â€Å"organized sound†. Unlike Cowell who emphasized harmony and rhythm in his music, Varese treated music as a mere grouping of noises, which are sound we do not like, into a group that would make it pleasing to hear. The example of this was electronic music of which Varese was considered as the father, which was basically an assembly of industrial noise that became aesthetically pleasing to hear due to its arrangement and organization. The motivation of his music is organization to achieve musicality while Cowell was rhythm and harmony. The whole text of the quotation was â€Å"Where do we go from here? Towards theatre. That art more than music resembles nature. We have eyes as well as ears, and it is our business while we are alive to use them† (Cage, 1957 pg. 12). This quote embodied how John cage regarded theatre, performance or c oncept-driven works/compositions. He explored and encouraged the concept of indeterminism in his works which allows the appreciation of music not just those elements selected and prepared by the composer. This is reflected in his various works in theatre, performance and concept driven works as well as the number of devices he used to emphasize randomness in music. One of his notable works that reflects the indeterminism and the removal of personal preference is his 1952 composition titled 4†²33†³ where it was performed without any sound. .

CONTEMPORARY BRAND MANAGEMENT REPORT Case Study

CONTEMPORARY BRAND MANAGEMENT REPORT - Case Study Example The company took full advantage of the many synergies generated within the group while retaining its own identity and remaining faithful to its distinctive difference (Louis Vuitton.com). Louis Vuitton, the founder of the famous French luxury goods brand, began manufacturing trunks in Paris in 1854, and the company he started went on to become one of the world's most famous makers of luxury goods, known especially for its designer luggage pattern: a beige-on-chestnut monogram, "LV." Vuitton's high-quality travelling trunks were such a hit that he had to expand his factory within a few years, relocating to Asnires in 1860. As the years went by the Vuitton line gained international recognition, thanks in part to a bronze medal at the 1867 World's Fair and a gold medal at the 1889 World's Fair, both held in Paris. After Louis died in 1892, his son, Georges, took the company to new heights, developing what is recognized as the first "designer label" on a product. Widespread copying of Vuitton patterns pushed Georges to design the distinctive "LV" monogram. Vuitton's luggage company has since become a world leader in luxury consumer goods, with products that include trave l books, perfume, distilled spirits and designer clothing (Answers.com). Louis Vuitton is a truly global brand associated with lux... he stylish LV Monogram canvas that was carried on in the year 1896 and the soft Steamer Bag that was introduced in the year 1901 prefigured the opening of the Louis Vuitton building on the Champs-Elyses in Paris, the largest travel goods store in the world. The famous Keepall Bag, often seen as a forerunner of the duffel bag, was launched in 1924 and was followed by similar products. In the last quarter of the 20th century Louis Vuitton developed as a truly global brand: the first LV stores opened in Tokyo and Osaka in Japan in 1978, in South Korea in 1984, in China in 1992, in Marrakesh in the year 2000, in Moscow during 2003, and in New Delhi during 2003 (Answers.com). 3. Brand Analysis Consumers identify a brand's distinctive capabilities based on their perceptions that have themselves been created by the marketers over a period of time. A genuine brand is "the internalized sum of all the impressions received by the customers and consumers resulting in a distinctive position in their mind's eye based on perceived emotional and functional benefits" (Knapp). A brand, in general, conveys certain aspects like attributes, benefits, values, culture, personality and user each one of which are discussed below. Attributes: Attributes are things that usually speak about the product. A brand usually conveys attributes of the product in order to inform existing customers and at the same time attract new potential customers. If this aspect is compared with Louis Vuitton, the brand that is being discussed in this paper, the attributes of Louis Vuitton products' are stylish, fashionable and modern and are made of high quality premium leather. Benefits: In order for a brand to be successful in the market, it is necessary that the product attributes eventually transform into

Psychology Essay Example for Free

Psychology Essay Repression is one of the most recurring concepts in psychology. Something dreadful happens and the mind pushes the experience into remote place of the perception. It is one of the key base on which the structure of psychoanalysis rests. Two empirical studies show high degree of trust in the accuracy of the recovered recall heard by many therapists from their clients. Goodman (1991) conducted a large scale study of clinicians who have come across, in their practice, ritualistic and religion-related abuse cases such as allegations of highly peculiar and shocking immoral ritual abuse in the context of an alleged enormous, hidden network of well thought-out, Tran generational satanic cults. Statement of the problem Clients with SRA memories have reported in depth memories of abuse and experiences being used by cults during adolescence as serial baby breeders to provide undetectable infants for ritual sacrifices, (Rogers, 1992b). Bottoms et al. s (1991) analysis indicates that 30% of the clinicians interviewed had seen at least one case of child sexual abuse. Further investigation of 200 clinicians experiences shows that a considerable number of cases involved amnesic periods. Most of the clinicians believed that the so-called harm was actually done and that the ritualistic aspects were actually experienced by the clients. The focus of this study therefore will be based on the investigation of adult memories of childhood abuse. This will include re-examination of some of widely common belief of psychotherapist. For many years the therapist has believed that repressed memory is a great influence, since they are accessible to perception (Bowers, 1992). This research will investigate if there is any proof to support this augment. This study will be based on the following assumption: The psychotherapist ‘s interpretation is the cause of the patient’s disorder, those who cannot memorize a traumatic event at childhood are repressing their memory, those who dream about trauma are in fact in contact with accurate memory. Literature review A different approach to the issue of therapist belief was taken by Loftus and Herzog (1991). They carry out a detailed interview with 16 clinicians who had experienced at least one repressed memory case. The outcomes reveal that about 81 percent of the clinicians always believed in their clients. The most common foundation for belief was symptomatology, or body memories. Many clinicians believe that determining what is genuine and what is not genuine is not the job of a therapist. The conclusion from this study was that therapists believe their clients and often use symptomatology as a proof. The clinicians are overwhelmed with the emotional hurt that accompanies the expression of the memories. (Dawes, 1992) has argued that this wave of belief is based in large part on authority and social consent. There are those with stand positions who would like to reject the accuracy of all repressed memories and those who would accept them all as true. (Van Benschoten, 1990) agued that, these extreme positions will only worsen our troubles. According to Ganaway (1989) if memory is not authentic then it could be due to dream, false impression, or hallucination which is internally derived as a justifiable mechanism. Daro, 1988), agued that childhood sexual abuse is terribly common among different people and according to (Freyd, 1991); even the most conservative of them are high enough to support the enormity of child abuse. Many people who come for therapy were abused in the past when they were children and have always recalled their abuses and give all the possible evidence of being abuse in the past. The abuse may sometime be corroborated with pornographic photographs and thus may lead to un-authenticity of the memory. Repressed memory abuse cases could be authentic if the abuses are confirmed to be prevalence. However when memories ,do not return for 20 to 30 years, documented corroboration might be few, but this does not implies that the such memories are not true. Mack (1980) reported on a 27-year-old man who, recalled memories of seeing his mother trying to hang herself. Later, his father confirmed that in many occasion the mother had tried to killed herself and that the son had witnessed one attempt when he was only 3 years old. And this confirmation apparently led to a relief of symptoms in the son. Sometime memory might be said to be false and that does not implies that such person is actually lying. The psychotherapists who question the accuracy of reports have been overwhelmed with the honesty and intensity of the terror, rage, guilt, depression, and overall behavioral dysfunction accompanying the understanding of abuse (Ganaway, 1989,). Memories according to Ganaway (1989) could be brought about as a result of internal or external sources. The internal factor which produces an abuse memory may give a screen for more ordinary but, ironically, less tolerable, painful experiences of childhood. From the above literature we understand that if memory is untrue, then it will certainly lead to severe damage to the repetitive of potentially innocent people (Ganaway, 1989). This work therefore will investigate how to establish a factual memory, and its finding will be applied in the clinical, societies, and also for handling the patients of childhood trauma. Methodology  This chapter covers the following sections: participants, apparatus, design, and the procedures for carrying out this study. Participants A group of 80 a adult out patients with a reported memory of childhood a buse will be randomly selected Their level of continuous recall, will be tested ands the possible factors which led to the delay of recall will concurrently be investigated. Various abuses will be then be investigated (sexual abuse and physical abuse). At least one of the clinical therapist specialists will also be investigated on how they have been handling abuse cases. Apparatus The study will make use of the questionnaires, interview guides and observation to carry bout its research. These instruments will be administered by the researcher and the research assistant. Questionnaire schedules will be used to collect information from the outpatients because a great deal of the information can be obtained from the respondents directly through questionnaires in a short time. The information included continuity of memory, precipitants to delayed recall of childhood trauma, and the sources of memory confirmation. Oral interviews guidelines will also be used to collect information from the heads of the clinical therapist to verify information on the questionnaires. Interviews are advantageous because of face-to face interpersonal interaction. Non participants’ observation method will be used to collect information on the various respondents given either by the outpatients or the clinical therapist specialist. Procedures The research will start by preparation of the materials to be used for the study after carrying out a pilot study to verify the efficient of the materials. With the help of the research assistant, the questionnaires will be distributed to the selected respondents and they will be expected to fill them on the agreed period. Possible guideline will be issued to assist them understand the questions to be answered. Time, space and materials will be organized for the interview, and this will be set based on the respondent prevalence. Transport and allowances will be set aside as a way of appeasing the respondent. Cameras and radio tapes will also be used to capture the procedures. Data analysis and presentation  The data collected from the field will be analyzed and presented by use of descriptive statistics and other quantitative methods. These include the use of averages, percentages, deviations, variance and ranking. Percentages will be used to analyzed the number of the occurrences of the abuse, where the ranking be used to analyze the trend or the frequency of the abuse. Averages will be used to analyze the approximate number of people in the population affected by the trauma. This research will adopt the use SPSS and Microsoft Excel computer programmes.

Effect of Branding on the Consumer

Effect of Branding on the Consumer Branding: How It Inspires People To Purchase A Particular Brand Abstract This research is done with the suitable research methods to describe how the people attempt to match their characteristics with a particular brand. A firm or company’s primary target is to make and preserve customers. They use various plans which include several research methods in order to discover the best way to make profits. For the companies, the saying, consumer is god, is crucial for a successful their business. Observing the customer’s purchasing behaviour is the initial step in the direction of successful understanding of customers. Branding is a crucial marketing strategy which inspires customer’s viewpoint and purchasing behaviour every time. Understanding customer buying behaviours will give marketers a close look into how significance for the marketers is to know the basic association the consumer has with the brand. So, for this reason, the research splits these issues into number of dimensions to consider that there is any connection between consum er purchasing behaviour. In other words, it permits one to see if branding can actually inspire consumer purchasing process. The research concentrates on the individual purchasing behaviour and branding associations. The sample is collected from the United Kingdom to overlook the culture impact and moreover to get rid of racial, religion and geographic issue for suitable sampling. The importance of this research is to explain how branding have an effect on different buyers behaviours build upon four kinds of complicated purchasing behaviour, conflict-reducing purchasing behaviour, habitual purchasing behaviour, and variety-seeking purchasing behaviour that are further talked about in this paper. By assessing commodity products, investigation of different approaches from these different consumer purchasing behaviour groups towards brand effects is done. The findings showed in the end reveals a strong positive association that can guide companies to concentrate more on strategies of branding according to the customers purchasing attitude towards branding. Introduction Today, in this fast moving environment, marketing depends upon the consumer’s behaviour and response to the product, price, promotion, place, physical layout, process and people (Gronroos, 1997; Kotler and et al., 1999; Egan, 2002) because today marketing is more consumers oriented than never before and due to the increasing value of service sector. For the development and survival of a firm, it requires exact facts about customers like their approach of buying, what they purchase, from which place they purchase and most essentially quantity they buy. Marketing has accepted the behavioural sciences basically sociology and social psychology to study and understand the process of consumer behaviour and decision making. While doing this, marketers are able to get explanations and forecasts build on these disciplines to figure their market offerings. To the extent that marketers are investigating the consumers psychological background in order to their establish factors that affect consumer choice in terms of cognition, perception, learning and attitude – all of which affect his buyer behaviour. A current day market trend has been the increasing similarity of products with little real functional difference between competing products. This is primarily due to intensive competitive rivalry and the existence of efficient production, transport, communication and financial systems. Under such circumstances technological innovations are quite quickly imitated by competitors and can no longer offer previous levels of sustainable competitive advantage and product differentiation (Levitt, 1983; Gronroos, 1997; Kotler, 2000). Therefore a significant feature of contemporary marketing research and practice concerns the emergence of brands as key organisational assets and a major issue in product strategy (Kotler, 2000). Firms have pla ced a heavy emphasis on adding symbolic values associated with brand names as the basis for product differentiation. The winner will eventually be the one whose strategy entails a mix conducive to the customers purchase behaviour, while doing so more effectively than its competitors. Objective Of The Study The primary goal of this research is to display branding value, functions and most important thing, its part in the consumer buying decision. This research examines the process and attributes that direct towards the customers’ evaluation of brands. This research will concentrate on the assessment of questionnaires filled by the public. Other objectives are like explanation of how the present customers attempts to match the individual identity with the identity that they relate to the brand, to prove that is there any correlation between individual purchasing behaviour and branding, and to evaluate how branding have an effect on different purchaser behaviours. Literature Review This study provides a foundation for the value and uses of branding as a vital marketing activity having an important impact on the consumer purchase decision. This research relates to a basic theory which has yet to be verified which says that as the difference among similar available products in the market is reducing, the chances that customers will buy through extrinsic signals, i.e. brand name associations is rising (Murphy, 1992). So, as customers’ ability to distinguish same kind of product declines, it is likely that the awareness of familiarity of a particular brand will push them to buy their particular choice of brand. Branding Let us define a ‘product’ before defining a brand, according to Baker (2000) a product is like anything that meets the needs of consumers. He says that it is the ability of the product to meet these needs that gives it value. The needs or problems can be psychological, economic or functional. In a competitive environment there are several companies offering opponent products that meet the customer’s needs. It is important to consider the fact that the brand can also allow companies to overcome the need to compete at a functional level, and can be used to help a company to compete on any level it is by applying its main capabilities (Hamel and Prahalad, 1994). It is the brand that distinguishes and identifies their offerings (Levitt, 1983). Like, most valuable possession is its brand name. They may be referred to as invisible assets of a lot of corporations around the world. Branding at present is increasingly concerned with bringing together and maintaining a mix of values, both tangible as well as intangible, which are relevant to the consumers and which properly differentiate one’s brand from that of another (Muehling and Laczniak, 1991; Hankinson and Cowking, 1993; Kapferer, 1995; Kotler et al., 1999). There are many tools other then the brand name to distinguish products and invest them with personality. Leading among them are advertising, promotion and packaging, other ways to differentiate from the competition may be product formulation, delivery systems, sizes, colour, smell, shape and so on. On the other hand, all these elements are put together with an appropriate and protected name with which the primary attributes of the product or service ultimately reside give the product its brand identity. This combination of messages within the structure of a brand name is a foundation to the development of brand personality (Graham, 2001; Holt, 2002). From the consumers point of view, brand names are as important as the product itsel f in the sense they make purchasing process easier, guarantee quality and at times form as a basis of self-expression. As said by Kotler (1997), any company can produce cold drinks, but only Pepsi Co. can produce 7UP. Talking about branding purpose and benefits, branding facilitates and makes the customers selection process more effective, people are loaded with lots of decisions in their day to day lives, and they are flooded with limitless products and messages contesting for attention. People look for shortcuts to make the decisions easier, a shorter way is to depend on habit, this shows of purchasing products that have shown good results in the past. This is in particular a case of less involvement purchases. This is further shown by a model of habitual buying behaviour (Assael, 1993), stating that reasonable past consumption behaviour leads to benefit association, which is a idea means the tendency of the consumer to relate the positive rewards to a particular brand, this relation between positive rewards towards a certain brand restricts the customers need for looking information and strengthen the likelihood that the identification of a need will lead the customer to straight buy a particul ar brand. And from the retailer’s point of view, branding can help differentiation. According to (Adcock. et al., 1998), differentiation is an action of modelling a set of meaningful differences to differentiate the companys offering from the opponent’s offerings. Competition with fast pace can follow development in technology and product formulation. An opponent will quickly able to make a replica, example, a cigarette brand, though they will not be able to copy the personality that use the brand name, like Marlboro. Porter (1980) says that differentiation is a source of competitive advantage. Using a differential advantage companies are in a position to distinguish their offer from competitors in the same segment. According to Porter (1980), the main need for gaining a competitive advantage is by creating such differentiation. Differentiation, in this case, refers to a company’s ability to be exclusive in its product sold and service offered. This individuality must be of a value to the consumer and can thus be sold at a premium over its competitor’s price. The more valuable this exclusivity is, the higher the differentiation, leading to the higher premium. Differentiation however comes with a cost, so for differentiation to have a competitive advantage, the cost of differentiating must be significantly lower than the premium earned. Therefore, in the perfect market with perfect competition, this premium allows the company to make a higher profit margin than its competitors. In a market segment with no differential advantage held by anyone, consumers might opt purely on the basis of price, and perfect competition which confirms that profits are pushed to zero (Porter, 1980; Foxall and Goldsmith, 1994; Baker, 2000). The differential advantage above can be gained by obtaining any element of the marketing mix. But studies have shown that the best possible plan is to focus on brand differentiation, rather than cost and price as a way of building profitability and growth (East, 1997; Diaz de Rada, 1998; Fankel, 2002). The Significance of Brand Loyalty According to (Meenaghan, 1995; Quester and Smart, 1998), branding can be related to the increasing value of brand loyalty. Loyalty can be termed as a total commitment towards a particular brand. Building loyalty depends on satisfying the needs of the consumers better than other opponents (Oliver, 1999) and the stage of loyalty that can be reached depends on the aimed consumers. According to (Quester and Smart, 1998), people all over the globe develop irrational connection with different products. Though (Levitt, 1983), came with the structure to understand how booming brands are made and claimed that consumers are not irrational to select them. The core of all brands consists of key product attributes, which allow the consumers to distinguish the product, as an answer to their needs; the attributes describe the products performance and usefulness. Adjoining this main product there is a group of attributes that enable the consumer to distinguish the product from other products of different brands. These characteristics take the shape of the products appearance, design, packaging, and identification. If these attributes would not been there, the only differentiation would be based on its reasonable pricing. According to Doyle, the brand name permits for a sustainable differential advantage. In the end, it is the external shell of the product that has been described by Doyle as, whatever thing that possibly can be done to create customer inclination and loyalty (cited Baker, 2000). According to (Alreck and Settle, 1999,) marketer’s basic aim is to make good relationship with buyers, rather just selling. The core of a relationship is a powerful bond between the brand and the buyer. If successful there will be present a loyalty that keeps out the opponents. A strong brand name should have a consumer franchise that will develop when enough number of customers wants that brand and reject other alternatives, still if the price is less. A brand with a powerful consumer franchise is protected from competitors (Kotler and Cox, 1980; Cheratony, 1993; Cowley, 1996). The brand loyal customers, whether they purchase same brand every time which can be an act of trust, habit or outcome of less participation and product availability, the clear assumption is that they push high profits for the company. Thakor and Kohli (1996) says that it costs six times more to succeed over new buyers then to hold present ones, because of the fact that it results in more expenditure li nked to adverts, promotions and sales. So loyal consumers make brand equity the main asset underlying brand equity is buyers’ equity (Machleit, 1993; Kotler, 1999). It is vital to make loyalty and settled base of customers who are fixed and loyal purchasers of a brand, which negates change and churn from the company’s’ products. For every business it is costly to increase new customers and cheaper to keep present one. Therefore, a settled customer base has the customer acquisition investment mainly in its past (Gwinner and Eaton, 1999). Contemporary marketing recommends obtaining data about customers as much as possible, anywhere it is to widen the understanding of customer wants, standard of living, attitude and purchasing behaviour (Chisnall, 1995; Davis et al., 1996; Dun, 1997; Chevron, 1998). This allows a company to modify the brand offering, to shift from the usual to an unexpected level of service actually delighting the customer, make sure the future loyalty and commitment. Generally, a brand’s value to a company is mainly created by the customer loyalty it controls (Aaker, 1996). Brand Equity Brands might differ in terms of the amount of dominance they have in the market. Many brands are unfamiliar whereas others have great consumer awareness, and moreover some brands have a great amount of consumer brand inclination. A strong brand can be said to have great brand equity. This can be explained as a brand which enjoys great brand loyalty, awareness, powerful brand associations, perceive quality and other benefits like trademarks, exclusive rights and channel relationships (Chay, 1991). The idea behind brand equity relates to the importance of a brand, value to the marketer as well as the buyer. With the marketers’ viewpoint, brand equity is a big market share therefore better cash flows and profit. From the consumer viewpoint, brand equity relates to a powerful positive brand attitude through a promising assessment of the brand, which is build upon consistent meanings and values that are simply accessible in the buyers’ memory (Lewis, 1993; Keller, 1998). With substantial effort has been put in measuring and defining the concept of brand equity there has been limited empirical research aimed at understanding the importance of the brand name associations in product differentiation (Aaker, 1991). One of the main objectives of Marketing is to get the products offered in a particular category to be distinct. Muehling, Stoltman and Mishra (1989), have found consumers to be less brand loyal, more price sensitive and less receptive to marketplace information in the absence of perceived differences between the alternatives. Brand Image Marketers understand that brands summon up symbolic pictures which are more significant to success of a product than its real natural characteristics (Meenaghan, 1995; Feltham, 1998). For products which are recognized with a brand, Davis (1995) has performed a research by splitting the customer assessment in two factors. Assessment which is linked to product characteristics (tangible) and assessment linked to the brand name (intangible). The consumers power to assess the performance abilities of the product and view about its value for money, usage effectiveness, reliability and availability develops the inherent advantage of the product, matching to product’s characteristics. The external benefits are at the emotional stage where, the symbolic assessment of the brand is taken into account. Here consumers make use of their personal reasons normally matching the brand name related attributes. With the growing variety of standardized products, consumers give more importance to t he image of products to make the assessment of different options easier. Meenaghan (1995) tells that consumers display an inclination towards symbolic rather than purely functional features of products. Therefore, they usually ask for social reliability and loyalty from firms and, in general, symbolic associations have their origin mostly in brand name perception instead of product perception (Meenaghan, 1995). Marketers have tried to employ behavioural theories to clarify and recognize useful relations involving consumer’s personality and their buying behaviour. Kamakura and Russell (1993) have spotted such theory stating that individuals have a definite self-image build on who they believe they are ideal self-concept build on who they believe they would like to be. Howard and Sheth (1969) have explained self-image as an individual thoughts and feelings about their own selves in relation to other objects in a socially determined frame of reference. By self-concept or self-image model, individuals will perform in a way that sustain and improve thei r self-image. One way is through the products they buy and use. The Effect of Branding on Consumer Purchase Behaviour The function of brand values is highlighted in the literature above, and in particular the significance of the brand to get distinctive benefit has been documented in depth. The reason behind the study to understand the consumer purchasing behaviour in light of the literature discussed so far. In order to do this consumer decision-making models will be organized. The hypothesis will be assumed as the derivation of the tests that will be conducted in the primary research. Marketing and ecological stimuli penetrate the buyer’s perception, the definition of consumer buying behaviour can be comprehended as buyer’s purchasing decision process. Four types of consumer buying behaviours, based on the degree of buyer contribution and the degree of differences among brands (Kotler, 2000). These four types are complex buying behaviour, habitual buying behaviour, variety-seeking buying behaviour, and dissonance-reducing buying behaviour. In complex buying behaviour the consumer is aware of the brands and gets too involved in the buying by analysing the product thoroughly. The customer is highly involved in buying the product in dissonance-reducing behaviour but doesn’t get too involved in the brands. Some buying situations are characterised by low involvement but significant brand differences. Consumer’s often do a lot of brand switching for variety-seekers. They are only according to the information in advertisement and television. The buying process begins with brand beliefs in habitual buying behaviour. The brand plays most important role in consumers’ purchase decision to purchase a particular product from another. Various attributes that merge to make the consumer behaviour in particular fashion during his purchase decision but also inducing any pre-purchase and post purchase activities. As (Engle et al., 1995) has defined consumer behaviour as consisting all those acts of individuals which are directly involved in obtaining, using and disposing of economic goods and services, including the decision process that precede and determine these acts. It is important factor to consider that influence the consumers’ buyer behaviour and study wishes to incorporate the Howard-sheth model of decision making. The theory of the model is that buyer behaviour is in general component firm by how consumer thinks and develops in order. (Howard and Sheth, 1969). It supports the fact that cognitive decision making which eventually determine the choice of brand and purchasing decision. The brand impact motivate the buyer and changes the behaviour , perception, learning and attitude are examined in terms of how each is affected by this impact on branding. Perception Here brand perception is based on individual personal experience of their own beliefs, needs and values. People receive and understand the sensory from their five senses they are sight, hearing, smell, touch and taste) in their own ways. Engel at el have defined perception as â€Å" the process whereby stimuli are received and interpreted by the individual and translated into a response† (Foxall, 1980,p.29). Primarily the social and psychological meaning of a product gets conveyed by two factors which determine the idea of stimuli, also known as stimulus discrimination and stimulus generalisation. Stimulus discrimination the question that hits in mind is whether the consumer can actually discriminate between differences in stimuli. Consumers become conscious of brands through packages, advertisements, promotions, and word of mouth they may be involved at some point in decision making process. Once customers became aware of brands through learning their purchase decision are then guided by their perceptions of their brands formed from the information they get about the brands characteristics (Foxall and Goldsmith, 1994). The marketers will first provide the similar brands and provide same information about the product and they position better way and discriminate between characteristics of the brands. The marketing information which will discriminate based on the brand name information provided with and it will be derived from brand name or the perception of the brand. It has been concluded (kotler et al, 1999) that consumers depend on reputation of the brand name to believe t he quality of the product. Brand name is someone who creates the image and some cases provide perception of the quality in a product and that shows the involvement of low level buyers. The main part of brand impact where the customer experiences the service they provide and class they maintain it guide through the purchasing behaviour. Chernatony (1993) explained four factors that attract them to change a particular brand and to understand their provided framework of their successful brands . 1. Quality is the pre-eminent factor that through time can lead buyers to learn to trust a brand which leads to priority position in the evoked set and repeat purchasing activity. 2. Build superior service can not only endorse product quality, but also prove post purchase problem solving. For instance, digital camera consumers would select an international brand for its global service and technological support. 3. The most common means of building an outstanding brand is being the first into the mind consumer. It is much easier to build a strong brand in the consumer’s mind than in the market, characterised by the intense level of competition. 4. In building brands the principle is to invest in markets which are highly differential or where such differentiation can be created. Mostly, the differentiation is why the brand is different from others. Brand provides consumer with lower search costs for products internally and externally. Brand reduces the risk in product decisions and Keller (1998) identifies six types of risk in consumers view. 1. Functional risk- product expectations 2.physical risk- friendly user or not 3. Financial risk- product should fit in the budget and it should be worth 4. Psychological risk- the product affects the mental well-being of the user 6. Time risk- failure of the product leads to find the other product. Brands have a personally of their own which consumers want to associate with, would like to reflect their own behaviour or aspirations and want to have an experience with. A brand, therefore, adds value to a functional product providing it offers clear differentiation in the market in which it competes. â€Å"Branding is short, transforms the actual experience of using the product and thereby adds to its value (Chevron, 1998). Learning So far it has been highlighted how extrinsic cues of a product namely the brand name can affect the consumers perception. Learning refers to any change in behaviour that comes about as a result from past experience. Dodds (1991) refers to learning as changes in a consumer’s behaviour caused by information and experience. Consumers store information in their memory in the form of associations, which links the brand name of a product with a variety of other attributes of the brand, like its price, packaging, colour, size and benefits as well as how the consumer feels about it in terms of its quality and emotions it evokes. These associations are the ones that form the information base from where the consumer makes his ultimately decisions (Foxall and Goldsmith, 1994). Most of this information consumers have stored in their memory comes from the process of learning that is what they think, feel or know about brands. Conoway (1994), claims that the subjective personal meanings of psycho-social consequences are represented by consumers’ cognitive systems. Since these consequences are experienced by consumers they are likely to trigger responses such as emotions, feelings and evaluations. Learning will be examined as a result of the marketing efforts, in terms of how information from the external communication environment is registered with the consumers long term memory from where it is extracted and used during his purchasing decision and also examine the way learning takes place in the form of changes in the consumers behaviour as a result of experience. At its simplest form learning occurs when consumers are repeatedly exposed to information such as brand names, slogans and jingles. Through this forms of learning consumers may form a weakly held belief that a particular brand is desirable due to an advertisement where the spokesperson repeats this claim over and over again. On the other hand, learning vicariously occurs when a consumer imitates the behaviours of others. Bandure (1977) stated that vicarious learning describes the way in which a consumer learns pattern of behaviour by watching other behave and applying the same lessons to his/her life. Brand images are created through advertisements, marketers use celebrities and famous sportsmen for this purpose, as it are the case with major retailing brands of Sainsburys and ASDA or Nike and Puma. Advertisements conjure upon a image for the brand through the use of models living a certain lifestyle that might be in tune with the consumers aspirations this will allow for favourable information about the brand to be processes by the consumers learning process. For marketers the learning theory is one of significance and of practical importance, as it allows them to build up demand for their brands by associating them to strong drives, motivation cues and thereby enabling positive reinforcements. Attitude A person’s overall evaluation of a concept may be defined as his or her attitude (Carpernter and Nakamopto, 1989). Consumers’ attitudes towards brands are reflected by their tendency to evaluate brands in a consistently favourable or unfavourable fashion. While behaviour and attitude are related and each may uinfluene each other, it si not necessary for them to be entirely consistent (Briggs and Cheek, 1986). General logic claims that if a consumer prefers or favours a brand there is greater likelihood of him to purchase it. thereby a positive trend in consumers attitude towards a particular brand may result in an increase in sales forecast. It is no wonder that testing or measuring attitude provides the bulk of marketing research work (Foxall and Goldsmith, 1994). Researching consumer attitudes are functionally useful for the marketer in directing consumers toward brands they find useful in satisfying needs, wants and aspirations. Chay (1991) claims that advertisements influence attitudes towards the add, which is an importance predecessor of brand attitude. While Cheratony (1989) and Muehling (1987) go on saying that the influence of attitudes towards the ad on brand attitudes has been found to be even more significant under low-involvement conditions and emotionally based advertising. While in some cases even though the consumer has a favourable attitude towards a brand due to an advertisement he might have enjoyed, after having watched the advertisement if his purchase action is postponed the effect of the advertisement will wear off resulting in the favourable attitude towards the brand fading away. Furthermore even if the purchase action is not delayed there is the possibility of variables such as price that rule out the consistency between attitude and behaviour (Belk, 1975). Motivation is another mental factor that influences the underlying emotions and attitudes towards brands and the purchasing decision. Freud (Vecchio, 1992) claims that people are mostly unconscious of the real psychological forces shaping their behaviour. He suggests that a person does not fully understand his/her motivation. He states that as people grow up they repress many urges, and these urges are never really eliminated or under perfect control. An applied example could be in terms of Pepsi adverting campaign during 1989 to 1992, with slogan such as Pepsi the choice of a new generation and Pepsi Gotta Have It (Alison, 1992). David Novak, Pepsis vice president of marketing explains that the campaign represents the Pepsi attitude for people who think young and want to celebrate his life. The implication here would be for a young adult who purchases the Pepsi with the underlying motive to quench his thirst or purchase a beverage. At a deeper leave he might have purchase the Pepsi to feel or show that he is young and alive (Alison, 1992). There is a possibility for the brand to be a reflection of the consumers perception of his image or self-presentation. Carpernter and Nakamopto (1989) and Chisnall (1995) have defined image as a function of social interaction. Thereby consumption can be an act of self-presentation. The consumer tries to link himself with a desired image, or the ideal social self-image. Conclusion Through the literature reviewed the significance and importance of branding as a marketing tool has been highlighted, while providing sufficient evidence as to why a company should brand its products. Product differentiation has been made difficult due to immense competition and improvements in technology, allowing products to be quickly imitated. In this way firms have placed a heavy emphasis on adding symbolic values as the basis for product differentiation. Therefore, while evaluating products the consumer will tend to consider the image aspect of the product to simplify the evaluation of different alternatives. Additionally the review suggested that consumers have a self-concept that have a crucial effect on their purchase decisions. This means that consumer might evaluate brands on the basis of the congruence between the brands image and their own self-image. Moreover, when the consumer has little or no experience with the product or has a lack of information about the product, consumers will use brand names to evaluate products, some consumers even when provided with information will avoid spending time to investigate the products intrin Effect of Branding on the Consumer Effect of Branding on the Consumer Branding: How It Inspires People To Purchase A Particular Brand Abstract This research is done with the suitable research methods to describe how the people attempt to match their characteristics with a particular brand. A firm or company’s primary target is to make and preserve customers. They use various plans which include several research methods in order to discover the best way to make profits. For the companies, the saying, consumer is god, is crucial for a successful their business. Observing the customer’s purchasing behaviour is the initial step in the direction of successful understanding of customers. Branding is a crucial marketing strategy which inspires customer’s viewpoint and purchasing behaviour every time. Understanding customer buying behaviours will give marketers a close look into how significance for the marketers is to know the basic association the consumer has with the brand. So, for this reason, the research splits these issues into number of dimensions to consider that there is any connection between consum er purchasing behaviour. In other words, it permits one to see if branding can actually inspire consumer purchasing process. The research concentrates on the individual purchasing behaviour and branding associations. The sample is collected from the United Kingdom to overlook the culture impact and moreover to get rid of racial, religion and geographic issue for suitable sampling. The importance of this research is to explain how branding have an effect on different buyers behaviours build upon four kinds of complicated purchasing behaviour, conflict-reducing purchasing behaviour, habitual purchasing behaviour, and variety-seeking purchasing behaviour that are further talked about in this paper. By assessing commodity products, investigation of different approaches from these different consumer purchasing behaviour groups towards brand effects is done. The findings showed in the end reveals a strong positive association that can guide companies to concentrate more on strategies of branding according to the customers purchasing attitude towards branding. Introduction Today, in this fast moving environment, marketing depends upon the consumer’s behaviour and response to the product, price, promotion, place, physical layout, process and people (Gronroos, 1997; Kotler and et al., 1999; Egan, 2002) because today marketing is more consumers oriented than never before and due to the increasing value of service sector. For the development and survival of a firm, it requires exact facts about customers like their approach of buying, what they purchase, from which place they purchase and most essentially quantity they buy. Marketing has accepted the behavioural sciences basically sociology and social psychology to study and understand the process of consumer behaviour and decision making. While doing this, marketers are able to get explanations and forecasts build on these disciplines to figure their market offerings. To the extent that marketers are investigating the consumers psychological background in order to their establish factors that affect consumer choice in terms of cognition, perception, learning and attitude – all of which affect his buyer behaviour. A current day market trend has been the increasing similarity of products with little real functional difference between competing products. This is primarily due to intensive competitive rivalry and the existence of efficient production, transport, communication and financial systems. Under such circumstances technological innovations are quite quickly imitated by competitors and can no longer offer previous levels of sustainable competitive advantage and product differentiation (Levitt, 1983; Gronroos, 1997; Kotler, 2000). Therefore a significant feature of contemporary marketing research and practice concerns the emergence of brands as key organisational assets and a major issue in product strategy (Kotler, 2000). Firms have pla ced a heavy emphasis on adding symbolic values associated with brand names as the basis for product differentiation. The winner will eventually be the one whose strategy entails a mix conducive to the customers purchase behaviour, while doing so more effectively than its competitors. Objective Of The Study The primary goal of this research is to display branding value, functions and most important thing, its part in the consumer buying decision. This research examines the process and attributes that direct towards the customers’ evaluation of brands. This research will concentrate on the assessment of questionnaires filled by the public. Other objectives are like explanation of how the present customers attempts to match the individual identity with the identity that they relate to the brand, to prove that is there any correlation between individual purchasing behaviour and branding, and to evaluate how branding have an effect on different purchaser behaviours. Literature Review This study provides a foundation for the value and uses of branding as a vital marketing activity having an important impact on the consumer purchase decision. This research relates to a basic theory which has yet to be verified which says that as the difference among similar available products in the market is reducing, the chances that customers will buy through extrinsic signals, i.e. brand name associations is rising (Murphy, 1992). So, as customers’ ability to distinguish same kind of product declines, it is likely that the awareness of familiarity of a particular brand will push them to buy their particular choice of brand. Branding Let us define a ‘product’ before defining a brand, according to Baker (2000) a product is like anything that meets the needs of consumers. He says that it is the ability of the product to meet these needs that gives it value. The needs or problems can be psychological, economic or functional. In a competitive environment there are several companies offering opponent products that meet the customer’s needs. It is important to consider the fact that the brand can also allow companies to overcome the need to compete at a functional level, and can be used to help a company to compete on any level it is by applying its main capabilities (Hamel and Prahalad, 1994). It is the brand that distinguishes and identifies their offerings (Levitt, 1983). Like, most valuable possession is its brand name. They may be referred to as invisible assets of a lot of corporations around the world. Branding at present is increasingly concerned with bringing together and maintaining a mix of values, both tangible as well as intangible, which are relevant to the consumers and which properly differentiate one’s brand from that of another (Muehling and Laczniak, 1991; Hankinson and Cowking, 1993; Kapferer, 1995; Kotler et al., 1999). There are many tools other then the brand name to distinguish products and invest them with personality. Leading among them are advertising, promotion and packaging, other ways to differentiate from the competition may be product formulation, delivery systems, sizes, colour, smell, shape and so on. On the other hand, all these elements are put together with an appropriate and protected name with which the primary attributes of the product or service ultimately reside give the product its brand identity. This combination of messages within the structure of a brand name is a foundation to the development of brand personality (Graham, 2001; Holt, 2002). From the consumers point of view, brand names are as important as the product itsel f in the sense they make purchasing process easier, guarantee quality and at times form as a basis of self-expression. As said by Kotler (1997), any company can produce cold drinks, but only Pepsi Co. can produce 7UP. Talking about branding purpose and benefits, branding facilitates and makes the customers selection process more effective, people are loaded with lots of decisions in their day to day lives, and they are flooded with limitless products and messages contesting for attention. People look for shortcuts to make the decisions easier, a shorter way is to depend on habit, this shows of purchasing products that have shown good results in the past. This is in particular a case of less involvement purchases. This is further shown by a model of habitual buying behaviour (Assael, 1993), stating that reasonable past consumption behaviour leads to benefit association, which is a idea means the tendency of the consumer to relate the positive rewards to a particular brand, this relation between positive rewards towards a certain brand restricts the customers need for looking information and strengthen the likelihood that the identification of a need will lead the customer to straight buy a particul ar brand. And from the retailer’s point of view, branding can help differentiation. According to (Adcock. et al., 1998), differentiation is an action of modelling a set of meaningful differences to differentiate the companys offering from the opponent’s offerings. Competition with fast pace can follow development in technology and product formulation. An opponent will quickly able to make a replica, example, a cigarette brand, though they will not be able to copy the personality that use the brand name, like Marlboro. Porter (1980) says that differentiation is a source of competitive advantage. Using a differential advantage companies are in a position to distinguish their offer from competitors in the same segment. According to Porter (1980), the main need for gaining a competitive advantage is by creating such differentiation. Differentiation, in this case, refers to a company’s ability to be exclusive in its product sold and service offered. This individuality must be of a value to the consumer and can thus be sold at a premium over its competitor’s price. The more valuable this exclusivity is, the higher the differentiation, leading to the higher premium. Differentiation however comes with a cost, so for differentiation to have a competitive advantage, the cost of differentiating must be significantly lower than the premium earned. Therefore, in the perfect market with perfect competition, this premium allows the company to make a higher profit margin than its competitors. In a market segment with no differential advantage held by anyone, consumers might opt purely on the basis of price, and perfect competition which confirms that profits are pushed to zero (Porter, 1980; Foxall and Goldsmith, 1994; Baker, 2000). The differential advantage above can be gained by obtaining any element of the marketing mix. But studies have shown that the best possible plan is to focus on brand differentiation, rather than cost and price as a way of building profitability and growth (East, 1997; Diaz de Rada, 1998; Fankel, 2002). The Significance of Brand Loyalty According to (Meenaghan, 1995; Quester and Smart, 1998), branding can be related to the increasing value of brand loyalty. Loyalty can be termed as a total commitment towards a particular brand. Building loyalty depends on satisfying the needs of the consumers better than other opponents (Oliver, 1999) and the stage of loyalty that can be reached depends on the aimed consumers. According to (Quester and Smart, 1998), people all over the globe develop irrational connection with different products. Though (Levitt, 1983), came with the structure to understand how booming brands are made and claimed that consumers are not irrational to select them. The core of all brands consists of key product attributes, which allow the consumers to distinguish the product, as an answer to their needs; the attributes describe the products performance and usefulness. Adjoining this main product there is a group of attributes that enable the consumer to distinguish the product from other products of different brands. These characteristics take the shape of the products appearance, design, packaging, and identification. If these attributes would not been there, the only differentiation would be based on its reasonable pricing. According to Doyle, the brand name permits for a sustainable differential advantage. In the end, it is the external shell of the product that has been described by Doyle as, whatever thing that possibly can be done to create customer inclination and loyalty (cited Baker, 2000). According to (Alreck and Settle, 1999,) marketer’s basic aim is to make good relationship with buyers, rather just selling. The core of a relationship is a powerful bond between the brand and the buyer. If successful there will be present a loyalty that keeps out the opponents. A strong brand name should have a consumer franchise that will develop when enough number of customers wants that brand and reject other alternatives, still if the price is less. A brand with a powerful consumer franchise is protected from competitors (Kotler and Cox, 1980; Cheratony, 1993; Cowley, 1996). The brand loyal customers, whether they purchase same brand every time which can be an act of trust, habit or outcome of less participation and product availability, the clear assumption is that they push high profits for the company. Thakor and Kohli (1996) says that it costs six times more to succeed over new buyers then to hold present ones, because of the fact that it results in more expenditure li nked to adverts, promotions and sales. So loyal consumers make brand equity the main asset underlying brand equity is buyers’ equity (Machleit, 1993; Kotler, 1999). It is vital to make loyalty and settled base of customers who are fixed and loyal purchasers of a brand, which negates change and churn from the company’s’ products. For every business it is costly to increase new customers and cheaper to keep present one. Therefore, a settled customer base has the customer acquisition investment mainly in its past (Gwinner and Eaton, 1999). Contemporary marketing recommends obtaining data about customers as much as possible, anywhere it is to widen the understanding of customer wants, standard of living, attitude and purchasing behaviour (Chisnall, 1995; Davis et al., 1996; Dun, 1997; Chevron, 1998). This allows a company to modify the brand offering, to shift from the usual to an unexpected level of service actually delighting the customer, make sure the future loyalty and commitment. Generally, a brand’s value to a company is mainly created by the customer loyalty it controls (Aaker, 1996). Brand Equity Brands might differ in terms of the amount of dominance they have in the market. Many brands are unfamiliar whereas others have great consumer awareness, and moreover some brands have a great amount of consumer brand inclination. A strong brand can be said to have great brand equity. This can be explained as a brand which enjoys great brand loyalty, awareness, powerful brand associations, perceive quality and other benefits like trademarks, exclusive rights and channel relationships (Chay, 1991). The idea behind brand equity relates to the importance of a brand, value to the marketer as well as the buyer. With the marketers’ viewpoint, brand equity is a big market share therefore better cash flows and profit. From the consumer viewpoint, brand equity relates to a powerful positive brand attitude through a promising assessment of the brand, which is build upon consistent meanings and values that are simply accessible in the buyers’ memory (Lewis, 1993; Keller, 1998). With substantial effort has been put in measuring and defining the concept of brand equity there has been limited empirical research aimed at understanding the importance of the brand name associations in product differentiation (Aaker, 1991). One of the main objectives of Marketing is to get the products offered in a particular category to be distinct. Muehling, Stoltman and Mishra (1989), have found consumers to be less brand loyal, more price sensitive and less receptive to marketplace information in the absence of perceived differences between the alternatives. Brand Image Marketers understand that brands summon up symbolic pictures which are more significant to success of a product than its real natural characteristics (Meenaghan, 1995; Feltham, 1998). For products which are recognized with a brand, Davis (1995) has performed a research by splitting the customer assessment in two factors. Assessment which is linked to product characteristics (tangible) and assessment linked to the brand name (intangible). The consumers power to assess the performance abilities of the product and view about its value for money, usage effectiveness, reliability and availability develops the inherent advantage of the product, matching to product’s characteristics. The external benefits are at the emotional stage where, the symbolic assessment of the brand is taken into account. Here consumers make use of their personal reasons normally matching the brand name related attributes. With the growing variety of standardized products, consumers give more importance to t he image of products to make the assessment of different options easier. Meenaghan (1995) tells that consumers display an inclination towards symbolic rather than purely functional features of products. Therefore, they usually ask for social reliability and loyalty from firms and, in general, symbolic associations have their origin mostly in brand name perception instead of product perception (Meenaghan, 1995). Marketers have tried to employ behavioural theories to clarify and recognize useful relations involving consumer’s personality and their buying behaviour. Kamakura and Russell (1993) have spotted such theory stating that individuals have a definite self-image build on who they believe they are ideal self-concept build on who they believe they would like to be. Howard and Sheth (1969) have explained self-image as an individual thoughts and feelings about their own selves in relation to other objects in a socially determined frame of reference. By self-concept or self-image model, individuals will perform in a way that sustain and improve thei r self-image. One way is through the products they buy and use. The Effect of Branding on Consumer Purchase Behaviour The function of brand values is highlighted in the literature above, and in particular the significance of the brand to get distinctive benefit has been documented in depth. The reason behind the study to understand the consumer purchasing behaviour in light of the literature discussed so far. In order to do this consumer decision-making models will be organized. The hypothesis will be assumed as the derivation of the tests that will be conducted in the primary research. Marketing and ecological stimuli penetrate the buyer’s perception, the definition of consumer buying behaviour can be comprehended as buyer’s purchasing decision process. Four types of consumer buying behaviours, based on the degree of buyer contribution and the degree of differences among brands (Kotler, 2000). These four types are complex buying behaviour, habitual buying behaviour, variety-seeking buying behaviour, and dissonance-reducing buying behaviour. In complex buying behaviour the consumer is aware of the brands and gets too involved in the buying by analysing the product thoroughly. The customer is highly involved in buying the product in dissonance-reducing behaviour but doesn’t get too involved in the brands. Some buying situations are characterised by low involvement but significant brand differences. Consumer’s often do a lot of brand switching for variety-seekers. They are only according to the information in advertisement and television. The buying process begins with brand beliefs in habitual buying behaviour. The brand plays most important role in consumers’ purchase decision to purchase a particular product from another. Various attributes that merge to make the consumer behaviour in particular fashion during his purchase decision but also inducing any pre-purchase and post purchase activities. As (Engle et al., 1995) has defined consumer behaviour as consisting all those acts of individuals which are directly involved in obtaining, using and disposing of economic goods and services, including the decision process that precede and determine these acts. It is important factor to consider that influence the consumers’ buyer behaviour and study wishes to incorporate the Howard-sheth model of decision making. The theory of the model is that buyer behaviour is in general component firm by how consumer thinks and develops in order. (Howard and Sheth, 1969). It supports the fact that cognitive decision making which eventually determine the choice of brand and purchasing decision. The brand impact motivate the buyer and changes the behaviour , perception, learning and attitude are examined in terms of how each is affected by this impact on branding. Perception Here brand perception is based on individual personal experience of their own beliefs, needs and values. People receive and understand the sensory from their five senses they are sight, hearing, smell, touch and taste) in their own ways. Engel at el have defined perception as â€Å" the process whereby stimuli are received and interpreted by the individual and translated into a response† (Foxall, 1980,p.29). Primarily the social and psychological meaning of a product gets conveyed by two factors which determine the idea of stimuli, also known as stimulus discrimination and stimulus generalisation. Stimulus discrimination the question that hits in mind is whether the consumer can actually discriminate between differences in stimuli. Consumers become conscious of brands through packages, advertisements, promotions, and word of mouth they may be involved at some point in decision making process. Once customers became aware of brands through learning their purchase decision are then guided by their perceptions of their brands formed from the information they get about the brands characteristics (Foxall and Goldsmith, 1994). The marketers will first provide the similar brands and provide same information about the product and they position better way and discriminate between characteristics of the brands. The marketing information which will discriminate based on the brand name information provided with and it will be derived from brand name or the perception of the brand. It has been concluded (kotler et al, 1999) that consumers depend on reputation of the brand name to believe t he quality of the product. Brand name is someone who creates the image and some cases provide perception of the quality in a product and that shows the involvement of low level buyers. The main part of brand impact where the customer experiences the service they provide and class they maintain it guide through the purchasing behaviour. Chernatony (1993) explained four factors that attract them to change a particular brand and to understand their provided framework of their successful brands . 1. Quality is the pre-eminent factor that through time can lead buyers to learn to trust a brand which leads to priority position in the evoked set and repeat purchasing activity. 2. Build superior service can not only endorse product quality, but also prove post purchase problem solving. For instance, digital camera consumers would select an international brand for its global service and technological support. 3. The most common means of building an outstanding brand is being the first into the mind consumer. It is much easier to build a strong brand in the consumer’s mind than in the market, characterised by the intense level of competition. 4. In building brands the principle is to invest in markets which are highly differential or where such differentiation can be created. Mostly, the differentiation is why the brand is different from others. Brand provides consumer with lower search costs for products internally and externally. Brand reduces the risk in product decisions and Keller (1998) identifies six types of risk in consumers view. 1. Functional risk- product expectations 2.physical risk- friendly user or not 3. Financial risk- product should fit in the budget and it should be worth 4. Psychological risk- the product affects the mental well-being of the user 6. Time risk- failure of the product leads to find the other product. Brands have a personally of their own which consumers want to associate with, would like to reflect their own behaviour or aspirations and want to have an experience with. A brand, therefore, adds value to a functional product providing it offers clear differentiation in the market in which it competes. â€Å"Branding is short, transforms the actual experience of using the product and thereby adds to its value (Chevron, 1998). Learning So far it has been highlighted how extrinsic cues of a product namely the brand name can affect the consumers perception. Learning refers to any change in behaviour that comes about as a result from past experience. Dodds (1991) refers to learning as changes in a consumer’s behaviour caused by information and experience. Consumers store information in their memory in the form of associations, which links the brand name of a product with a variety of other attributes of the brand, like its price, packaging, colour, size and benefits as well as how the consumer feels about it in terms of its quality and emotions it evokes. These associations are the ones that form the information base from where the consumer makes his ultimately decisions (Foxall and Goldsmith, 1994). Most of this information consumers have stored in their memory comes from the process of learning that is what they think, feel or know about brands. Conoway (1994), claims that the subjective personal meanings of psycho-social consequences are represented by consumers’ cognitive systems. Since these consequences are experienced by consumers they are likely to trigger responses such as emotions, feelings and evaluations. Learning will be examined as a result of the marketing efforts, in terms of how information from the external communication environment is registered with the consumers long term memory from where it is extracted and used during his purchasing decision and also examine the way learning takes place in the form of changes in the consumers behaviour as a result of experience. At its simplest form learning occurs when consumers are repeatedly exposed to information such as brand names, slogans and jingles. Through this forms of learning consumers may form a weakly held belief that a particular brand is desirable due to an advertisement where the spokesperson repeats this claim over and over again. On the other hand, learning vicariously occurs when a consumer imitates the behaviours of others. Bandure (1977) stated that vicarious learning describes the way in which a consumer learns pattern of behaviour by watching other behave and applying the same lessons to his/her life. Brand images are created through advertisements, marketers use celebrities and famous sportsmen for this purpose, as it are the case with major retailing brands of Sainsburys and ASDA or Nike and Puma. Advertisements conjure upon a image for the brand through the use of models living a certain lifestyle that might be in tune with the consumers aspirations this will allow for favourable information about the brand to be processes by the consumers learning process. For marketers the learning theory is one of significance and of practical importance, as it allows them to build up demand for their brands by associating them to strong drives, motivation cues and thereby enabling positive reinforcements. Attitude A person’s overall evaluation of a concept may be defined as his or her attitude (Carpernter and Nakamopto, 1989). Consumers’ attitudes towards brands are reflected by their tendency to evaluate brands in a consistently favourable or unfavourable fashion. While behaviour and attitude are related and each may uinfluene each other, it si not necessary for them to be entirely consistent (Briggs and Cheek, 1986). General logic claims that if a consumer prefers or favours a brand there is greater likelihood of him to purchase it. thereby a positive trend in consumers attitude towards a particular brand may result in an increase in sales forecast. It is no wonder that testing or measuring attitude provides the bulk of marketing research work (Foxall and Goldsmith, 1994). Researching consumer attitudes are functionally useful for the marketer in directing consumers toward brands they find useful in satisfying needs, wants and aspirations. Chay (1991) claims that advertisements influence attitudes towards the add, which is an importance predecessor of brand attitude. While Cheratony (1989) and Muehling (1987) go on saying that the influence of attitudes towards the ad on brand attitudes has been found to be even more significant under low-involvement conditions and emotionally based advertising. While in some cases even though the consumer has a favourable attitude towards a brand due to an advertisement he might have enjoyed, after having watched the advertisement if his purchase action is postponed the effect of the advertisement will wear off resulting in the favourable attitude towards the brand fading away. Furthermore even if the purchase action is not delayed there is the possibility of variables such as price that rule out the consistency between attitude and behaviour (Belk, 1975). Motivation is another mental factor that influences the underlying emotions and attitudes towards brands and the purchasing decision. Freud (Vecchio, 1992) claims that people are mostly unconscious of the real psychological forces shaping their behaviour. He suggests that a person does not fully understand his/her motivation. He states that as people grow up they repress many urges, and these urges are never really eliminated or under perfect control. An applied example could be in terms of Pepsi adverting campaign during 1989 to 1992, with slogan such as Pepsi the choice of a new generation and Pepsi Gotta Have It (Alison, 1992). David Novak, Pepsis vice president of marketing explains that the campaign represents the Pepsi attitude for people who think young and want to celebrate his life. The implication here would be for a young adult who purchases the Pepsi with the underlying motive to quench his thirst or purchase a beverage. At a deeper leave he might have purchase the Pepsi to feel or show that he is young and alive (Alison, 1992). There is a possibility for the brand to be a reflection of the consumers perception of his image or self-presentation. Carpernter and Nakamopto (1989) and Chisnall (1995) have defined image as a function of social interaction. Thereby consumption can be an act of self-presentation. The consumer tries to link himself with a desired image, or the ideal social self-image. Conclusion Through the literature reviewed the significance and importance of branding as a marketing tool has been highlighted, while providing sufficient evidence as to why a company should brand its products. Product differentiation has been made difficult due to immense competition and improvements in technology, allowing products to be quickly imitated. In this way firms have placed a heavy emphasis on adding symbolic values as the basis for product differentiation. Therefore, while evaluating products the consumer will tend to consider the image aspect of the product to simplify the evaluation of different alternatives. Additionally the review suggested that consumers have a self-concept that have a crucial effect on their purchase decisions. This means that consumer might evaluate brands on the basis of the congruence between the brands image and their own self-image. Moreover, when the consumer has little or no experience with the product or has a lack of information about the product, consumers will use brand names to evaluate products, some consumers even when provided with information will avoid spending time to investigate the products intrin