Sunday, October 13, 2019

Impact of Marketing Collateral in Banks

Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers greatest currency and a great banking and financial services brand can be built only on a strong foundation of trust. That pretty much has been HDFC banks story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the banks contribution to the bustle of post liberalization has been incredible. The banks service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC banks decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of elite private sector banks in the country. HDFC banks biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a brand run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with. Power Creation: With the vision of being one-stop financial superstore in mind, the bank operates in three segments: Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third party financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC banks credit Cards are also enormously trusted. Here as well some well-crafted strategies of the past have yielded brilliant results for the bank. One of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a loyal customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign exchange products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians. Communication Strategy: The positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HDFC bank have always focused on that and their tagline ‘We Understand Your World only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commitment towards excellence in customer service facilitated through various means, especially technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits Scholarship plan which received high acclamation. Magical factors: As a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the bottom of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the ‘My Favourite features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on little things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand. Brand Ethos: HDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"brandr† meaning to burn. It refers to the practice of producers burning their mark (or brand) onto their products. When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with emotional impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists. Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc. Brand identity and image Brand identity is the outward expression of a brand, including its name, trademark, communications and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in contrast to the brand image, which is a customers mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity Brand awareness Brand awareness refers to customers ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it. Brand Tracking The role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques) Effective brand management relies on getting timely and accurate information from the target audiences. Brand tracking involves designing a program of measurement that is completed on a regular schedule to allow for trend analysis and comparison. Some of the key metrics that are involved in tracking a brand include: Brand awareness and familiarity Brand perceptions Brand positioning Delivery on brand promise Perceptions of competitive brands What are marketing collaterals? Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization. Types of the marketing collaterals used in HDFC bank are displayed as follows: MARKETING COLLATERALS WINDOW GLAZINGTENT CARDS LCD TVSTANDEE BANNERLEAFLETS POSTERNOTICE BOARD DESCRIPTION OF THE PROJECT Impact of marketing collaterals in branches: Every bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to grab customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services. By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city. Brand tracking of HDFC bank in semi-urban regions of India: A brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors. It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceived by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image. In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised. OBJECTIVES OF THE PROJECT Impact of marketing collaterals in branches: HDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals. Brand tracking of HDFC bank in semi-urban regions of India: A brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION With the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or fail to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are suggested. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased. The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes. LIMITATIONS OF THE STUDY As the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up. The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an attitude is a limitation. The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities. RESEARCH PROCESS ADOPTED Both the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as follows: The entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time frame was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner. THE SCHEDULE OF TASKS IS AS FOLLOWS METHODOLGY USED The methodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face basis by visiting different semi-urban regions of a few cities where HDFC bank has its branches located at. Data collected from questionnaires will be used in percentage form as the primary data for making analysis. It is a stringent research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association. The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for opening a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the rank given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline. In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report. The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required. CITIES AND BRANCHES VISITED TILL DATE Lists of cities that have been visited for Brand Tracking of HDFC Bank is as follows: 1) Aurangabad People outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared. 2) Surat Semi-urban regions near Surat city were visited i.e. Bardoli and Amroli. 3) Madhya Pradesh Semi-urban regions of M.P were visited i.e. Khandwa and Harda. 4) Rajkot Semi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una. A list of branches of HDFC Bank in Mumbai that were visited to conduct the study on impact of marketing collaterals in branches is as follows: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch EXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report. DATA FINDINGS OF MARKETING COLLATERALS SURVEY List of branches visited: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch Total number of people interviewed: 200 Data collected is as follows: 1) How often do you visit the branch? a) Very often 48% b) Less often 28% c) Rarely 24% 2) How much time do you spend in the branch at every visit? a) 5 to 10 minutes 17.5% b) 10 to 15 minutes 34% c) 15 to 20 minutes 20.5% d) Above 20 minutes 28% 3) Which of the following collaterals attract your attention the most? 4) Do you often spend time reading these collaterals? a) Yes 67.5% b) No 32.5% 5) Do you find it easy to read them? a) Yes 94% b) No 6% 6) If yes, does it induce you to inquire about it? a) Yes 75.5% b) No 24.5% 7) If no, what are the obstacles that prevent you from reading it? a) Location of the collateral 2.5% b) Font size/colour 2% c) Too much text matter 12% d) Language 0.5% e) Other issues 6% f) No issues 77% DATA FINDINGS ON BRAND TRACKING Cities Visited: Aurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda) Total Number of peopleinterviewed: 200 Data collected is as follows: (The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers) 1) Banks that the people were aware about are as follows: All data: HDFC bank 26.3% ICICI bank 21.8% State Bank of India 18% Axis bank 15% Other 18.8% Customers: HDFC bank 28.57% ICICI bank 19.72% State Bank of India 16.32% Axis bank 12.92% Other 22.44% Non-customers: HDFC bank 25.60% ICICI bank 22.51% State Bank of India 18.54% Axis bank 15.67% Other 17.66% 2) Public opinion about each bank with regards to the attributes mentioned as follows: a) Trust All data Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS Impact of Marketing Collateral in Banks Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers greatest currency and a great banking and financial services brand can be built only on a strong foundation of trust. That pretty much has been HDFC banks story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the banks contribution to the bustle of post liberalization has been incredible. The banks service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC banks decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of elite private sector banks in the country. HDFC banks biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a brand run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with. Power Creation: With the vision of being one-stop financial superstore in mind, the bank operates in three segments: Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third party financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC banks credit Cards are also enormously trusted. Here as well some well-crafted strategies of the past have yielded brilliant results for the bank. One of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a loyal customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign exchange products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians. Communication Strategy: The positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HDFC bank have always focused on that and their tagline ‘We Understand Your World only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commitment towards excellence in customer service facilitated through various means, especially technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits Scholarship plan which received high acclamation. Magical factors: As a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the bottom of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the ‘My Favourite features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on little things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand. Brand Ethos: HDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"brandr† meaning to burn. It refers to the practice of producers burning their mark (or brand) onto their products. When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with emotional impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists. Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc. Brand identity and image Brand identity is the outward expression of a brand, including its name, trademark, communications and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in contrast to the brand image, which is a customers mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity Brand awareness Brand awareness refers to customers ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it. Brand Tracking The role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques) Effective brand management relies on getting timely and accurate information from the target audiences. Brand tracking involves designing a program of measurement that is completed on a regular schedule to allow for trend analysis and comparison. Some of the key metrics that are involved in tracking a brand include: Brand awareness and familiarity Brand perceptions Brand positioning Delivery on brand promise Perceptions of competitive brands What are marketing collaterals? Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization. Types of the marketing collaterals used in HDFC bank are displayed as follows: MARKETING COLLATERALS WINDOW GLAZINGTENT CARDS LCD TVSTANDEE BANNERLEAFLETS POSTERNOTICE BOARD DESCRIPTION OF THE PROJECT Impact of marketing collaterals in branches: Every bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to grab customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services. By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city. Brand tracking of HDFC bank in semi-urban regions of India: A brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors. It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceived by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image. In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised. OBJECTIVES OF THE PROJECT Impact of marketing collaterals in branches: HDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals. Brand tracking of HDFC bank in semi-urban regions of India: A brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION With the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or fail to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are suggested. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased. The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes. LIMITATIONS OF THE STUDY As the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up. The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an attitude is a limitation. The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities. RESEARCH PROCESS ADOPTED Both the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as follows: The entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time frame was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner. THE SCHEDULE OF TASKS IS AS FOLLOWS METHODOLGY USED The methodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face basis by visiting different semi-urban regions of a few cities where HDFC bank has its branches located at. Data collected from questionnaires will be used in percentage form as the primary data for making analysis. It is a stringent research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association. The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for opening a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the rank given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline. In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report. The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required. CITIES AND BRANCHES VISITED TILL DATE Lists of cities that have been visited for Brand Tracking of HDFC Bank is as follows: 1) Aurangabad People outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared. 2) Surat Semi-urban regions near Surat city were visited i.e. Bardoli and Amroli. 3) Madhya Pradesh Semi-urban regions of M.P were visited i.e. Khandwa and Harda. 4) Rajkot Semi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una. A list of branches of HDFC Bank in Mumbai that were visited to conduct the study on impact of marketing collaterals in branches is as follows: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch EXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report. DATA FINDINGS OF MARKETING COLLATERALS SURVEY List of branches visited: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch Total number of people interviewed: 200 Data collected is as follows: 1) How often do you visit the branch? a) Very often 48% b) Less often 28% c) Rarely 24% 2) How much time do you spend in the branch at every visit? a) 5 to 10 minutes 17.5% b) 10 to 15 minutes 34% c) 15 to 20 minutes 20.5% d) Above 20 minutes 28% 3) Which of the following collaterals attract your attention the most? 4) Do you often spend time reading these collaterals? a) Yes 67.5% b) No 32.5% 5) Do you find it easy to read them? a) Yes 94% b) No 6% 6) If yes, does it induce you to inquire about it? a) Yes 75.5% b) No 24.5% 7) If no, what are the obstacles that prevent you from reading it? a) Location of the collateral 2.5% b) Font size/colour 2% c) Too much text matter 12% d) Language 0.5% e) Other issues 6% f) No issues 77% DATA FINDINGS ON BRAND TRACKING Cities Visited: Aurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda) Total Number of peopleinterviewed: 200 Data collected is as follows: (The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers) 1) Banks that the people were aware about are as follows: All data: HDFC bank 26.3% ICICI bank 21.8% State Bank of India 18% Axis bank 15% Other 18.8% Customers: HDFC bank 28.57% ICICI bank 19.72% State Bank of India 16.32% Axis bank 12.92% Other 22.44% Non-customers: HDFC bank 25.60% ICICI bank 22.51% State Bank of India 18.54% Axis bank 15.67% Other 17.66% 2) Public opinion about each bank with regards to the attributes mentioned as follows: a) Trust All data Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS

Saturday, October 12, 2019

Premature Infants Essay -- Health, NICU

Thousands of infants are born prematurely on an annual basis, and it is a challenge in the neonatal intensive care unit (NICU) to facilitate parent-child attachment while still providing the safest clinical environment for the infant. One significant area of research where premature infants are concerned is the effect of early skin to skin contact (SSC), or kangaroo care, between the parent(s) and child during their stay in the NICU. Although it has been found that early and frequent SSC promotes positive physiological responses in preterm infants, there is mostly speculative data regarding the long-term psychosocial effects where parent-infant bonding is concerned. An important question for the clinician working in this specialty area to find a quantifiable answer for is, â€Å"Do parents who are permitted to touch and/or hold their infant in the NICU bond with their infant better than those who are not able to do this?† This type of question is structured in the PICO mod el, which is one of the most common models used in evidenced-based practice (EBP). The question is structured in a way that the patient population and practice or intervention are clearly identified, making it easier for the researcher to find relevant research data using the internet and databases. More specifically, PICO can be broken down into: P (patient population or condition of interest), I (intervention of interest), C (comparison of interest), and O (outcome of interest). (Schmidt & Brown, 2012) For the question at hand, the P (population) was parents of infants in the NICU, the I (intervention of interest) considered was the ability to touch and/or hold their infant, C (comparison) was parents who were not permitted physical contact with their infant,... ...es have to realize that they are not just caring for a premature infant, but also a new family. It is also important for the nurse to understand that the mothers’ and fathers’ approach to touching and bonding with their infant may differ. Although quantitative data from Chiu and Anderson (2009) did not reveal significant differences between the control group and the SSC group at 18 months, the data from Latva et al. (2008) showed significant behavioral differences at six years old when infants were touched as newborns and formed a secure attachment. Therefore, for the health and well-being of both parents and child, time and opportunity to have SSC and bonding experiences must be priorities in the plan of care for infants in the NICU. As one mother stated, â€Å"I need to be allowed to feel that he is mine.† (Fegran, Helseth, & Fagermoen, 2007, pg. 813)

Friday, October 11, 2019

Books especially Great Expectations Essay

Pip is very childlike the way Dickens describes him, almost naive and he has a large imagination.Dickens shows Pip’s naivety by telling the reader Pip believes his mothers name was ‘also Georgina’ as that was written on the gravestone.  Pip is introduced when he is at the graveyard.  Dickens aims for the readers empathy by telling us that five of his siblings are dead and buried with his mother and father.  The historical context Dickens used was that in the 1800’s children died young.  Then we are introduced to the criminal who we later learn is called Abel Magwitch. When Pip meets the convict he is in irons, rags and is hungry.  Dickens showed us this man was of lower class by the way he spoke and the fact his did not wear a hat like gentlemen did.  Ã¢â‚¬ËœA man with no hat, and broken shoes.’  Abel comes off as a scary man however once he has food and a file for his irons, his attitude changes.  Dickens tries to get sympathy for Abel by the way he describes him as having a limp and using his arms to warm himself up as well holding himself together. Estella is introduced in chapter eight.  Estella is the adopted daughter of Miss Havisham; Estella was brought up to hate men by Miss. Havisham.  This causes Estella to poke fun at many aspects of Pip.  She has been taught well like most upper class children and Dickens shows this by her speech and appearance.  Ã¢â‚¬ËœDon’t be ridiculous boy†¦Ã¢â‚¬â„¢, she believes herself to be higher and more important than Pip due to her being of a higher class.  Miss. Havisham was a wealthy woman who got jilted at the alter, her life went down hill from there as if she was stuck in the time.  We can see that from the way Dickens describes the way her house was decorated.  Dickens makes Miss. Havisham come over as a bitter spiteful lady by using her speech and actions. ‘†Sometimes I have sick fantasies.† She went on.’  The Setting.  The first chapter is set in a graveyard which gives the reader an eerie yet calm feeling until the convict appears changing the atmosphere to dramatic.  Dickens uses words like ‘overgrown’, ‘forgotten’ and ‘bleak’ to create the sense of setting and atmosphere.  He then goes to use words like ‘terrible’ and ‘fearful’ to fit into the new dramatic setting.  Towards the end of chapter one, Dickens uses nearly a full paragraph on just describing the setting.’†¦ sky was just a row of long angry, red lines and black lines intermixed.’   This gives off a rather calming yet suspenseful atmosphere. Chapter eight is started with a strong sense of suspense and curiosity, the setting and atmosphere being both questionable and fearful.  Dickens uses words like ‘scornful’, ‘dark’ and ‘uncomfortable’ to successfully create an atmosphere; he describes Miss. Havisham as almost skeleton like then he continues to actually have Pip compare her to a wax skeleton.  Dickens uses words like ‘hollow eyes’, ‘faded skin’ and very slim’ to get his point across.When comparing the two settings they are very similar by that way they are both set in a dark settings and suspenseful atmospheres.   The storyline. The entire book is mainly focussed around Pip’s days and his meeting of new people in both different classes.  Chapter one is focussed on Pip meeting the convict, who is of a lower class and then chapter eight is focussed on Pip meeting Estella and Miss. Havisham who are of a higher class.  The story is about Pip and his feelings when he meets each of these people as well as the expectations he has for himself once meeting those people.  Pip tries to raise his expectations for himself once he’s met Estella. Dickens chooses everything carefully when writing a storyline, like names for instance he describes calling upon Estella in chapter eight as ‘†¦ her light came along the dark passage like a star.’ Estella is actually Latin for star so you can tell he chose the name wisely as well as fitting historical context into the chapter.  He also uses pat experiences to help write about events in his books especially Great Expectations.

Thursday, October 10, 2019

Religious and Thnic Groups Paper Essay

I picked Buddhism as my religious group. I am a Christian so this is interesting to me because if would have stayed in Thailand, Buddhism would be the religion that I would have learned and believed in. Buddhism is a very unique religion and it differs from all other religion out there. They do not believe in a God. Tak stated, â€Å"We don’t believe in a god because we believe in man. We believe that each human being is precious and important, that all have the potential to develop into a Buddha – a perfected human being. We believe that human beings can outgrow ignorance and irrationality and see things as they really are. We believe that hatred, anger, spite and jealousy can be replaced by love, patience, generosity and kindness. We believe that all this is within the grasp of each person if they make the effort, guided and supported by fellow Buddhists and inspired by the example of the Buddha. As the Buddha says: No one saves us but ourselves, No one can and no one may. We ourselves must walk the path, But Buddhas clearly show the way† (2011) The Four Noble Truths of Buddhism teach that life is a suffering, there is a cause of this suffering, it is possible to put an end to this suffering and the Noble Eightfold Path is the means to end this suffering. Refuge in Three Jewels is the three components of Buddhism which protect a person from the unstable world as he progresses on the path to become a Buddhist. The Five Precepts lay down the moral conduct to make human world a better place to live. These precepts prevent Buddhists from indulging in deeds that restrict spiritual growth and cause harm to others. The Three Marks of Conditioned Existence explain that everything in this world is impermanent, without substance and full of suffering. They do not have a ten commandments, no judgment day, no creation myth, no prayers for help or intervention, and let’s people find their own path though life. There are no rewards or punishments on judgment day like others. Buddhism is strictly not a religion in the context of being a faith and worship owing allegiance to a supernatural being. Buddhism has been looked upon as opposite teaching from other and this makes Buddhism have a negative experience even though they feel that it is okay and that hateful things can not cut through their skin. This is what my brother had to say about his experience with others in different religion, a member on Yahoo commented â€Å"I have experienced hate form other who don’t believe in what I believe in. And for the simple fact that I don’t worship their god. People have been afraid and confused and it’s sad that people are this way. Well people telling me that I’m going to burn in hell is just one example. Mostly I get people coming up to talk to me and I get the whole, â€Å"so are you a good Christian girl thing,† which makes me want to puke, and I say no I’m Pagan. And most people don’t even know what that means, but typically they stop talking and walk away. †( Philosoraptor, 2012) Buddhism has contributed little at a time and over time. Today we use meditation as a relaxation and even as a type of medicine. It is like yoga, has the same affect on the mind, body, and soul. The growth with Buddhism is even reaching different races, like for example Whites. Amanda Rivera said, â€Å"I think the appeal comes from the fact that the Lotus Sutra emphasizes the absolute equality of all people to be able to attain buddhahood, to attain their enlightenment. The sources of prejudice and discrimination with any religious group is that people do not know and understand the group and which fear and hate starts to set in. It is the people’s ignorance that causes the negative feelings and actions. When we talk about prejudice and discrimination a fine example would be two years ago in Kansas. The Lao-Buddhist Association [Wat Lao Buddhasampham] is trying to move its Olathe temple to a location along 119th Street in Olathe. But the Johnson County Board of Commissioners has so far denied the group a conditional use permit. Neighbors say that the area the Buddhists have chosen is zoned residential, but Lama Chuck Stanford of the Rime Buddhist Center says that discrimination is the real reason behind the opposition. â€Å"This is clearly just ugliness of ethnic and religious prejudice,† said Stanford. [†¦] Standord notes that Christian churches are common in residential areas, and that comments made by residents during a January zoning board meeting indicate fear and ignorance. At the meeting, people raised concerns about traffic, water pollution and â€Å"animal sacrifices,† along with noise from gongs, which Stanford says are no louder than church bells. Another example On Sept. 13, 2011 the U. S. Department of Justice filed a lawsuit against the city of Walnut in Southern California because the city did not allow Chung Tai Buddhist Group, originally from Taiwan, to build a worship and meditation center. The Department of Justice accused the city government of violating federal law, which states that religious groups have the same rights to use land as other building applicants, and of discriminating against the Buddhist group. The sources of prejudice and discrimination with any religious group is that people do not know and understand the group and which fear and hate starts to set in. It is the people’s ignorance that causes the negative feelings and actions in which then problems and issues occur instead of accepting that people are different and unique. I have been neutral with Buddhism but my brother believes in it. I do not judge him and I try to think critically if I speak but after doing the research I have a new understanding of my ethic religion of my biological parents. The main important thing I have learned is not asking which religion is better but what is different from what I believe in and what they believe in because that is when you can see how others think and view beliefs. Taking a look at ethnic group of Pacific Islander are different from others in the aspect that the Pacific Islanders live a very social lifestyle, in which family members, both immediate and extended, work together in a solidified community. Pacific Islanders often have difficulty balancing their traditional â€Å"laid-back† attitudes with the high pressure competitive demands of American pedagogy and marketplace economy. Pacific Islanders’ cultures follow customs and traditions based on ancient principles that promote living an honorable and noble lifestyle. Embedded deeply into the Polynesian culture are music, dance, and food. Traditional storytelling, music, and dance are ancient ways of passing down history from one generation to another. Thus teachers with students who are Pacific Islanders may want to use both written and oral instruction, particularly in areas of literacy. Pacific Islanders are in fact highly developed peoples. Our ancestors survived for centuries in remote and isolated communities having devised their own means of dealing with the elements and of maintaining social order. In the process of what is known as ‘development’, however, Islanders wrestle daily with individual demands in a market-driven world, while our consciousness continues to be haunted by a pervasive sense of our collective identity (Wickham). The main thing with interaction with other groups is that Pacific Islander are more laid back and they tend to not be up to par with the other social groups. This makes them to be â€Å"dumb† and â€Å"no gas in the think tank. † Pacific Islander has been a huge contribution to American culture in fields as varied as the arts, health care, business and military service, Asian Pacific Americans are central to our quality of life. Month of May has been declared Asian Pacific American Heritage Month which celebrates all of those that have entered into the United States and help to develop where we are today as one. Prejudice and discrimination is part of history with Pacific Islander in the past. Taiwanese-American Wen Ho Lee, for example, was targeted by the U. S. government and suspected of espionage because of his ethnicity, according to many in the Asian/Pacific Islander community. In May, U. S. Rep. David Wu, an Oregon Democrat, was detained entering the Department of Energy building in Washington, D. C. , and repeatedly asked if he was an American citizen. July, 2009 in Seattle, a group of Asian-American youths, stopped by police for jaywalking, claimed they were harassed by an officer who repeatedly asked if they spoke English and allegedly remarked, â€Å"I’ve been to your country before, when I was in the Army. † These types of prejudice and discrimination are all appearance wise and nothing more. The pure ignorance is the source for all these actions. The research was harder to do on Pacific Islander due to the fact of less records and information like other groups. The more I read the same information was being presented. I started to research other groups and I was able to find so much more information. So yes it did help me to understand them better but not to the point of really understanding them because of lack of information and data on them. Prejudice and discrimination on the two groups were similar because both of them were looked upon as physical appearance and judge by looks instead of getting to know the two and understand the two. They both been looked at as different and odd. In the beginning of the two in America they both been push around and forced into doing things that were not right at all. Harassment and anger seems to fill hate towards the two. They are different in ways of the one is being discriminated because of a practice and the other is a human being. There is not much to be different other than that. Discrimination and prejudice looks the same, acts the same, and smells the same. Not much difference because it is all out of uneducated assumptions, anger, hatred, and intolerance. References Philosoraptor, M. (2012). Yahoo! Answers. Retrieved from http://answers. yahoo. com/question/index? qid=20120229093706AAHWC2Q Swee, T. (2013). Buddhism-Major Differences. Retrieved from http://www. buddhanet. net/e-learning/snapshot01. htm Tak, Y. (2011). Comparing Buddhism With Other Religions. Retrieved from http://wfcs. buddhistdoor. com/OldWeb/passissue/9612/sources/comp. htm Rivera, A. (2011). Why Is American Buddhism So White. Retrieved from http://www. thebuddhadharma. com/web-archive/2011/11/9/forum-why-is-american-buddhism-so-white. html Wickham, A. WACC. Retrieved from http://www. waccglobal. org/en/19973-indigenous-communications/929-Hidden-perspectives-on-Communication–Culture-in-the-Pacific-Islands-. html.

European Type Jaw Crusher for Sale in India

European Type Jaw Crusher Brief Introduction: By adopting the world’s most advanced crushing and manufacturing technology, European type jaw crusher is mainly used for secondary and tertiary crushing of various medium-hard ores and rocks. European type jaw crusher has already become the most popular equipment in the world without controversy. It is the first choice for hard and strong abrasion material. [pic] Highlights: 1. Adopt world-level manufacturing techniques and raw materials. 2. Movable jaw assembly is made of high-quality cast steel piece.Forging blank is adopted for heavy eccentric shaft for processing, which makes the machine more reliable and endurable. 3. Integral cast steel structure is adopted for bearing saddle to guarantee full cooperation with crushing stander, which greatly enhances radial strength of bearing saddle. 4. Adoption of finite element analysis technology ensures much higher strength of the machine. 5. Crusher chamber adopts â€Å"V† struc ture which could make the actual feed width complies with the nominal one. 6. Adjustment device with discharge hole with wedge installed is simpler, safer and rapider than the old spacing piece. . Compared with crusher of other specifications, all machines of the series adopt more endurable and bigger eccentric shaft bearing; its higher bearing capacity and effective labyrinth seal make service life of bearing greatly prolonged. 8. The latest tooth-shaped guard plate is adopted to increase effective length of jaw plate and improve output. [pic] Working Principle: The motor transmits power through belt, drives the moving jaw to do periodic motion towards the fixed jaw by the eccentric shaft.The angle between toggle plate and moving jaw plate increases when moving jaw moves. So the moving jaw moves towards the fixed jaw. The stuff will be crushed in this process. The angle between toggle plate and moving jaw decreases when moving jaw moves down, the moving jaw moves leaves fixed jaw b y pulling rod and spring, the final crushed stuff will be discharged from the outlet. [pic] For more detailed information, please click here:http://www. crusherindustry. com/index. php/european-type-jaw-crusher/

Wednesday, October 9, 2019

Uncalculated Risks Essay Example | Topics and Well Written Essays - 500 words

Uncalculated Risks - Essay Example The above issue takes centre stage as to why licensing is not a compulsory issue for drilling engineers, while the aeronautical industry requires that all engineers in its field be licensed. In addition, the experience of these engineers is in question following the lack of need to attend classes for academic qualification. Rather than this, all that is required is experience, and this does not allow the engineers to make sound decisions, as they cannot calculate the cost of their negligence or lack of knowledge of the technicalities involved. As such, further concerns come up as to whether having licensed engineers would culminate in responsible conduct and decision making at drilling rigs. The exemption of licensing for these engineers is to be thought of again and a sound decision made regardless of the political pressure involved. The practice of exempting drilling engineers from getting licensing stands to be unethical owing to the lack of accountability to the public and that the said persons cannot stand prosecution. This is because if they are accountable, their accountability is only owed to their employers and the shareholders of the said company for which they work. In addition, the lack of licenses for engineers points to their ability to get away with their mistakes and failures to follow standard operating procedures that have been approved. Mitigation practices would entail passing legislation that cuts across the board on a federal scale rather than state law. This is to ensure that in light of public concerns and their safety, all engineers have undergone training and are licensed. This allows employers to distinguish clearly between unscrupulous persons masquerading as engineers, while they are not willing to take responsibility for their actions as they lack qualifications to comprehend the gravity of their mistakes. As such, having a central

Tuesday, October 8, 2019

The Product of Coca-Cola in South Africa and Canada Assignment - 9

The Product of Coca-Cola in South Africa and Canada - Assignment Example However, the South African website has a direct link on its homepage to the company’s sustainability strategy, while it also has a list with graphics of the different brands offered by Coca-Cola, which the other does not.  In addition, the South African website has the company’s mission on the home page, while the Canadian website only links to activities charitable events. Companies that sell their products in the US and foreign markets may face various risks with regards to grey market goods. Companies may intend to sell products in foreign markets due to consumer preferences for packaging and formulations that differ between domestic and foreign markets, which may also result in different product pricing in relation to the foreign country’s economic status (Sugden, 2013). One risk lies with loss of goodwill in the domestic market due to differently packaged or constituted goods entering the market, despite them being authentic. In addition, grey markets could also damage the relationship of the company with its distributors that have to compete against lower-priced but authentic products (Sugden, 2013). Finally, the company may suffer profit margin and sales volume decline as authentic products purchased cheaply abroad undercut their sales in the domestic market.