Issue in Accounting Theory

Question: What is the Issue in Accounting Theory ? Answer : Presentation This paper means to give a basic investigation of the article Half a guard of Positive Accounting Research by the writer Dunmore. The exposition investigations the qualities and shortcoming of the article that expects to look at the commitment of positive bookkeeping hypothesis in more extensive examination program. The article is tied in with inspecting the importance of positive bookkeeping approach in the field of bookkeeping. It will in general feature the insufficiencies in the positive bookkeeping approach and along these lines proposes the utilization of better hypothetical ideas in bookkeeping research. The principle contention introduced in the exploration paper is whether positive bookkeeping hypothesis is powerful in accomplishing logical targets of bookkeeping research (Dunmore, 2009). The basic examination of the article in the exposition is directed by summing up its primary concerns, distinguishing research questions, talking about its hypothetical structure and examin ing its hugeness and impediments to be utilized in future investigates. Rundown of Article The examination article intends to give a top to bottom comprehension of the positive methodology utilized in more extensive bookkeeping research program. The fundamental thoughts introduced by the writer in the examination article are focused about portraying the significance and shortcomings of the positive bookkeeping hypothesis. The hypothesis was created by Watts and Zimmerman in the year 1970 and it depended on regular science wonders. The hypothesis depended on common science marvels and subsequently was viewed as to a great extent powerful in accomplishing the logical targets of bookkeeping research (Dunmore, 2009). Bookkeeping explores basically includes functional testing of bookkeeping forecasts and in this way requires execution of hypothetical structure dependent on logical wonders. As such positive bookkeeping hypothesis was accepted to be to a great extent valuable to be utilized in bookkeeping explores in contrast with regularizing bookkeeping hypothesis (Ghnabari et al., 2016). Standardizing bookkeeping hypothesis depended for the most part on hypothetical rule of bookkeeping and has no down to earth direction. Then again, positive bookkeeping hypothesis is created based on logical rule and therefore was viewed as valuable in accomplishing reasonable results of bookkeeping research (Chatfield and Vangermeersch, 2014). The article, in this unique situation, has analyzed the commitment of positive bookkeeping hypothesis in the bookkeeping field. The article has delineated the shortcomings of positive bookkeeping hypothesis and consequently has proposed the appropriation of better hypothetical methodologies in bookkeeping research (Wickramasinghe and Alawattage, 2012). The writing survey area of the article has introduced the perspectives and assessments of various writers on the utilization of positive bookkeeping hypothesis in bookkeeping research programs. The examination article has underscored about the confinements of positive bookkeeping hypothesis in a chieving the useful results of bookkeeping research. Along these lines, the article gives a strong base to future explores about investigating and analyzing the value of positive methodology in bookkeeping investigates (Dunmore, 2009). Examination Question The exploration inquiries of the article have been distinguished through basic assessment of the writing audit segment. The writing audit of the article is focused about investigating the significance and shortcomings of positive bookkeeping hypothesis in the field of bookkeeping. The article means to give a response to the accompanying inquiry as examined from its writing survey Does positive bookkeeping hypothesis can be applied in accomplishing logical goals of bookkeeping research.? (Dunmore, 2009). Furthermore, the examination concentrate additionally looks to address the accompanying sub-research questions: What is the significance and shortcoming of positive bookkeeping hypothesis in the field of bookkeeping research? What are the principle points of interest of positive bookkeeping research in contrast with other hypothetical model utilized in bookkeeping investigates? Does there exist a requirement for the appropriation of better hypothetical model in bookkeeping research when contrasted with positive bookkeeping hypothesis? Hypothetical Framework The hypothetical structure of the examination article began from the writing audit segment. The perspectives and assessments of various writers about the exploration subject are introduced inside the writing survey that builds up the hypothetical system of the examination article. The hypothetical contentions of different creators underscores on the shortcoming of positive bookkeeping they that makes it generally unfit to achieve effectively the useful results of bookkeeping research. Watts and Zimmerman created positive bookkeeping hypothesis and guaranteed it to be generally valuable in testing the bookkeeping forecasts created in bookkeeping investigates. This was because of the improvement of the hypothesis based on logical marvels as correlation with other hypothetical models use in bookkeeping that depends on hypothetical standards (Rhonheimer, 2000). Watts and Zimmerman have asserted that the hypothesis of positive bookkeeping depends on clarifying the reason and impacts conne ctions that is basic for doing bookkeeping investigates. In any case, various writers in the exploration article have recommended that positive bookkeeping hypothesis is principally founded on esteem judgment. Consequently, the hypothesis is by all accounts unseemly for accomplishing the down to earth results of the bookkeeping research (Burns and Needles, 2014). The various writers in the writing audit area of the exploration article have recommended that albeit positive bookkeeping hypothesis have upgraded the comprehension of different bookkeeping wonders however it isn't valuable in testing of bookkeeping forecasts (Dunmore, 2009). The principle commitment in featuring the insufficiency of psoitiev bookkeeping hypothesis originates from Poppers adulteration basis. The creator has recommended that the advancement of logical bookkeeping hypothesis depends on arrangement of steps that frames the reason for its acknowledgment or dismissal. The hypotheses created are acknowledged a logical speculations in the event that they meet the necessities as expressed by Popper. The initial phase in the distortion model of Popper is watching and looking at the starter thoughts proposed from the hypothesis. This is trailed by testing the perceptions for investigating their logical premise. The quantitative testing of forecasts is basic for accomplishing solid exact confirmations. The forecasts tried should be quantitative in nature as they are increasingly defenseless to distortion. This is trailed by testing the expectations of the new hypothesis against the result accomplished from recently settled speculations. Accordingly, the new hypothesis created is acknowledged as logical in the event that it meets the entirety of the above expressed criterias. The hypothesis of positive bookkeeping need likewise to be broke down and inspected based on all the above expressed prerequisites to be acknowledged a logical. The different creators have addressed on the acknowledgment of positive bookkeeping hypothesis on logical premise as it depends principally on esteem judgment (Deegan, 2014). The hypothesis is basically supposed to be founded on expository methodologies and in this manner its usage in accomplishing down to earth results of bookkeeping research is put under discussion (Bazrafshan and Talebina, 2016). The writer through the current article has recommended that better and improved hypothetical models should be utilized in bookkeeping research programs. The field of bookkeeping has to a great extent been developed since recent years and along these lines the hypothesis of positive bookkeeping by and by isn't seen as appropriate in accomplishing its results. The hypothesis ought to be utilized in blend of other hypothetical methodology for viably meeting the commonsense based results of bookkeeping research (Dunmore, 2009). The bookkeeping investigates are basically conveyed for proposing the determination of a precise bookkeeping technique so as to determine an unpredictable bookkeeping issue. The administration of enormous and complex business associations generally directs bookkeeping research for choice of a specific bookkeeping technique to determine a bookkeeping issue. Along these lines, precise determination of bookkeeping technique is fundamental for upgrading the presentation of business associations. The bookkeeping investigates for the most part include reasonable testing of bookkeeping predications for choice of a proper bookkeeping arrangement (Kabir, 2007). The hypothesis of positive bookkeeping accordingly is by all accounts unseemly in completing commonsense testing of bookkeeping expectations. Thusly, it is exceptionally basic for specialists to utilize better and improved hypothetical models in field of bookkeeping that can successfully do pragmatic testing of bookkeeping expectations . Hence, the general hypothetical system of the exploration article has recognized and dissected the insufficiencies of positive bookkeeping hypothesis to be utilized in more extensive examination program (Dunmore, 2009). Essentialness and Limitations of the Article The examination led in the current article hold high essentialness in the area of bookkeeping. It will give important understanding to the future specialists about the impact of positive bookkeeping hypothesis in bookkeeping investigates. The future explores can do a top to bottom examination about the primary lacks in positive bookkeeping hypothesis. It will likewise be useful for future scientists to comprehend the idea of hypothetical models that ought to be utilized in bookkeeping investigates. The hypothesis of positive bookkeeping has been utilized in bookkeeping investigates since a significant stretch of time. The current exploration study, in such manner, has embraced a significant investigation to recognize the lacks of this hypothesis. This will improve the extent of bookkeeping and furthermore upgrade the nature of bookkeeping research in future setting. The improvement of better hypothetical ways to deal with be utilized in bookkeeping explores will help in improving the business execution of associations. The settling of basic a

Australian Social and cultural change essays

Australian Social and social change expositions Since 1901 Australia has seen a great deal of social and social changes, after each of the a ton can occur in one hundred years. The further developed innovation, the working conditions, and family way of life are a portion of the various highlights, which have impacted these changes. The most evident change is the further developed innovation. This has impede and helped in numerous territories, for example, transport, correspondence, and wellbeing. One hundred years back, accepting data was moderate, getting here and there was tedious and living day by day life was plain difficult work. With no air travel, delivers the main method of going abroad, sixty vehicles existing and the primary method of transport been by horse drawn carriages, you could envision the moderate pace of the everything in 1901. Presently in 2001 there are around 11,737,900 vehicles, air travel is at its best, and going by ponies is fundamentally non exsistinant. This has helped from numerous points of view, for example, with over oceans ties, which was used to be hard a direct result of Australians geological position. Due to air travel we get more visitors into Australia and thus we get a higher benefit each year. Another significant manner by which innovation has helped is in correspondence. One hundred years back the best approach to speak with loved ones was to present a letter or on send a message. This could take weeks or even a very long time to get due to the vehicle frameworks being so moderate. They relied upon horse drawn mentors and vehicles, which were in their initial improvement stages. Additionally with the nonappearance of air transport they relied upon ships. Presently our data can be conveyed practically prompt with the utilization of the phone, fax machines, cell phones, utilization of media, Internet administrations and the utilization of air travel. PCs have help correspondence a lot. With the utilization of PCs and the Internet we are currently ready to write to individuals on the opposite side of the world and that individual could get at the press of a catch. The n ... <!

The Working Conditions of Psychologists

The Working Conditions of Psychologists Student Resources Careers Print The Working Conditions of Psychologists By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on February 14, 2020 Markus Haefke / Getty Images More in Student Resources Careers APA Style and Writing Study Guides and Tips If youve ever considered becoming a psychologist, then youve probably wondered a little bit about what the working conditions might be like. As with many other professions, a psychologists specialty area and workplace are the major determinants of the working conditions. For example, a forensic psychologist might spend his or her day working in courthouses, police stations or criminal detention centers. A clinical psychologist, on the other hand, might spend his or her day working in a hospital or other mental health setting. Employment Settings Psychologists, especially clinical and counseling psychologists, often work in private practice. This means that they have their own offices and are able to establish their own work schedule. It is important to note that many psychologists who run their own businesses frequently work evening and weekend hours in order to accommodate the schedules of their clients. The U.S. Bureau of Labor reports that nearly one-third of all psychologists were self-employed.?? Some psychologists work shift schedules, including those employed in hospitals, nursing homes, retirement centers, and other healthcare facilities. This often includes working night shifts and weekends. Psychologists employed in academic settings, government or business settings generally have a more predictable schedule that follows normal daytime hours. However, those teaching at the university level may also have to teach courses during evenings or weekends. Psychologists employed by colleges and universities often spend time teaching classes and conducting research, but they may also be required to perform administrative duties. It is also not uncommon for psychologists to work in more than one setting. A clinical psychologist might see clients at a private practice or mental health clinic and also teach courses at a local university. An industrial-organizational psychologist may spend time observing behavior in the workplace and conducting research in an experimental lab. Collaborations With Other Professionals A psychologists working conditions can also depend on whether or not the individuals work in a research-oriented career or a more applied profession. Those who conduct research may spend time interacting with study participants, but a great deal of time will also be spent designing studies, analyzing results and preparing research reports. Those who work in more applied professions will likely spend more one-on-one time with clients. Working conditions can be stressful at times, particularly when dealing with clients who are emotional, angry or noncommunicative. Finding ways to deal with such stress and combat job burnout can be important for many professionals.?? According to the Occupational Outlook Handbook published by the U.S. Department of Labor, psychologists today often work in collaboration with other professionals.?? They may consult with other psychologists, physicians, psychiatrists, physical therapists, and other professions as part of a mental health treatment team. The handbook also states that psychologists frequently deal with work pressures including schedules, deadlines, and overtime. Difficult clients, emotionally charged situations and other stressful situations are also common.?

Customer Service Issues Within Cricket - 2343 Words

Lead effective workplace relationships Assessment Task 2: Project Part A Agenda To: info@Cricketequip.com.au; sale@Cricketequip.com.au; customerservice@Cricketequip.com.au; From: MarketingDept@Cricketequip.com.au; Subject: Recent customer service issues within Cricket Equip Date: 21/10/15 Meeting topics to be discussed: 1. Meeting introduction and welcome. 9.00 am – 9.10 am 2. Current customer service issues within Cricket Equip. 9.10 am – 9.45 am 3. Cricket Equip’s customer service standards and requirements. 9.45 am – 10.00 am 4. Recommendations for customer service improvement. 10.00 am – 10.30 am 5. Staff feedback on how customer service can be improved. 10.30 am – 11.00 am 6. Staff training needs of customer service. 11.00 am –†¦show more content†¦You should explore at least one external opportunity and construct an email that you might send to an external training provider seeking information about the training. Your email must be written clearly and respectfully. Include a copy of the email as an appendix to the one page report as indicated below. Range of opportunities for staff training Explanation Career planning The activities we need to take in order to achieve our career goal. This includes: knowing our interests and abilities, and exploring learning options and actions plan to achieve our career goals. Accredited and non-accredited training We can be provided either recognized qualifications or specific needs by attending these training. Buddy systems This is where individuals are paired and one would take responsibility for the welfare and safety. Buddy systems would help to promote friendship and support between peers. Coaching This is where people can be trained or supported to achieve a specific goal. Counselling People can get advice, opinion and instruction directly. Mentoring Learners/ Employees will be trained and supported by a senior or experience individuals, who may be counselors or advisors. On or off-the-job training and development This type of training is provided away from workplace in order to minimize distractions and encourage trainees to pay full attention. It includes lectures, case studies and simulation†¦ An email to theShow MoreRelatedRecent Customer Service Issues Within Cricket1179 Words   |  5 PagesSubject: Recent customer service issues within Cricket Equip Date: 18/05/2016 Meeting topics to be discussed: 1. Meeting introduction and welcome. 8Am – 8:10am 2. Current customer service issues within Cricket Equip. 8:10am – 8:50am 3. Cricket Equip’s customer service standards and requirements. 8:50Am – 9:30am 4. Recommendations for customer service improvement. 9:30am – 9:55am 5. Staff feedback on how customer service can be improved. 10Am – 10:20am 6. 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An Introduction to Geography

“Saudi Arabia still projecting the real picture of Islam Free Essays

The geo-political consequences after the 9-11 mishap entirely twisted the image of the Muslim countries all over the world. Many countries like Pakistan, Afghanistan, Egypt, Syria and Iran had to face the menace of the â€Å"War Against Terrorism† and even had to combat with their domestic security issues which set tough challenges for them to struggle to maintain their peaceful image on an international perspective. Saudi Arabia is one Islamic country which somehow managed to sustain its dignified and peaceful image on the map of the contemporary international political scenario and this was possible because of their positive and influential foreign policies, their economic stability and their potent financial role across the globe. We will write a custom essay sample on â€Å"Saudi Arabia still projecting the real picture of Islam or any similar topic only for you Order Now Another factor that added to their credit was their domestic prevalence and sustenance of law and order that enabled the pace of their progress to remain uniform and also provided external favors to flourish within the country. Most of the Muslim countries have not been able to earn significance in the pace of economic progress and development of the world throughout the last century; despite being the oil producing and exporting countries like Syria could not be listed amongst the developed ones. But Saudi Arabia since its establishment of modern Kingdom back in 1932 has not only been uniform in its form of Government but also maintained a uniform pace of progress and development in all the walks of life. Its chief source of income has no doubt been the export of oil and products of petroleum as it has been one of the leading oil producing countries of the world but the Government of Saudi Arabia has always invested at a mass level to improve and upgrade the overall socio-economic representation of the country. Saudi Arabia is the center of the Islam as the entire Muslim ummah (community) ahead towards this region during the holy month of Zil Haj to perform the annual pilgrimage (HAJ) to the holy city of Kaaba, in Makkah and also to pay homage to the Prophet’s grave in Madinah. This annual tourism also brings in a lot of foreign exchange and revenue to the Saudi treasure. Apart from the earnings the organizing of this great event every year also proves the persistent efficiency of the Saudi administration and also their expertise in catering people from different regions of the world with heterogeneous backgrounds in the most homogenous environment. They have certainly proved to be very ardent custodians of the Islamic heritage of the Two Holy Places. The Kingdom of Saudi Arabia has always kept the superb maintenance of these two Holy places in the top most priority. The Ministry of Pilgrimage, in union with other government agencies, manages the annual logistical challenge for the organization of Hajj and endorses such projects in the Kingdom and abroad that promote Islam’s role in the community. The annual conducting of Hajj reflects the dedication of the leadership and citizens of the Kingdom of Saudi Arabia to the service of Islam and this also totally negates and defies the general impression of the Muslim community as terrorists or fanatics. Apart from the religious service Saudi Arabia has also been a great donor for many Muslim countries for several humanitarian causes and also as war aid. Since 2002, Saudi Arabia has provided more than $480 million in budgetary support to the Palestinian Authority and supported Palestinian refugees through contributions to the UN Relief and Works Agency (UNRWA). More than $250 million was also provided to Arab League funds for the Palestinians, and pledged $500 million in assistance over the next three years at the Donors Conference in Dec 2007; pledged $230 million to development in Afghanistan; pledged $1 billion in export guarantees and soft loans to Iraq; pledged $133 million in direct grant aid, $187 million in concessional loans, and $153 million in export credits for Pakistan earthquake relief; pledged a total of $1. 9 billion to Lebanon in assistance and deposits to the Central Bank of Lebanon in 2006 and pledged an additional $1. 1 billion in early 2007. Many things may have been said in the most crucial diction about Saudi Arabia by the west especially after the 911 attacks. Some writers like Dore Gold in his book â€Å"Hatred’s Kingdom: How Saudi Arabia Supports the New Global Terrorism† have stated the Saudi government to be directly involved in the plotting of the attacks and even nurturing the Al-Qaeda’s ma ster minds like Osama Bin Laden. Such claims could easily be made and concocted as all the odds were tilted towards the Muslim community at the heat of the moment of the 911. But the fact is that Saudi Arabia has always been an ally for the war for peace and has supported US during the Gulf War in 1990. Secondly Saudi Arabia and US have been partners in the petroleum exports and distribution since 1970s when ARAMCO was established. Saudi Arabia is also considered to be one of the fastest developing countries of the modern era. This is because of Saudi Arabia’s free market economy which has shown remarkable progressive shifts in the recent past. It has been observed that Saudi Arabia has managed to develop its agricultural society into an advanced economy that is globally connected through modern technology and infrastructure. This depicts the progressive minded approach of the Saudi government which has always focused on the development of the country by meeting the contemporary pace of development especially in the modern means and modes communication. This leap towards progress began during the time of King Faysal who invested at a large scale for the improvement of the infrastructure and the communication system. His motto was the modernization of Saudi Arabia. This era is even known to be the renaissance of the Saudi intellect of progress and development. And since then Saudi Arabia has made an effort to become the member of WTO in December 2005. Although there may be numerous reasons why countries like Saudi Arabia become a victim of criticism under the tag of stereotypical for its people, ideas, customs and even religious beliefs but the fact and the figures regarding Saudi Arabia’s peaceful role in the present scenario political turmoil proves that associating such rigid views with such a progressive and rapidly developing country like Saudi Arabia would itself be a biased and un-scrutinized bent of thought that requires maturity of insight to comprehend. How to cite â€Å"Saudi Arabia still projecting the real picture of Islam, Papers

Government Role in Managing Short run Instability in the Economy

Question: Write an report onGovernment should play active role in managing short run instability in the economy caused by unemployment and inflation problems. Answer: In the long run, we all are dead said John Maynard Keynes. The basic assumption behind the same was the fact that it is the short run stability in the economy achieved through fiscal tools (i.e. taxation and government spending) that matters rather than thinking about the long term effects of such measures. According to several economists including Keynes, in the long term every parameter/indicator (namely labour and capital) changes because of the changes in technology, the scientific temper and the desire to make the world a better place to live in. Further, the economy of any country is lead by its people or households, who are dynamic in nature with each one behaving in a different manner to the same problem in front of them. The economy is a product of all decisions undertaken by each household. Thus, it becomes really difficult to understand the exact impact of the measure. In the current context, it is short term stability (reducing unemployment and inflation) which the government looks to achieve through the use of fiscal policy. In a country like India, where the government has the power to control instability (long run or short run), the correct use of fiscal tool can go a long way in achieving short term stability. Thus, leading to the economic growth of the countrys in long run. Just as a proverb goes A rupee saved in a day can provide you saving of 365 rupees in a year. In the same manner, achieving short term stability can go a long way in achieving long run stability in the economy. In short run, households prefer to have economic stability with continuous employment and stable incomes. This allows them to undertake major investment decisions in the future by foregoing the current consumption. In one word, people understand and appreciate the opportunity cost of foregone consumption for a better living in the future. In short, if we maintain strong and stable macroeconomic fundamentals, it can go a long way to contribute towards economic growth and welfare. The logic for the above arguments is simple. Economic stability over a period of time increases the confidence of its people in its governments actions and policies. This in turn leads to increase in savings of the people due to stable income over a period of time. Once the savings increases, it gets invested by the households or by the banks for generating economic activity. With the generation of economic activity, there is increase in production of goods and increase in employment. This increase in employment provides people with wages, which are in turn spent on purchase of goods and services. Thus the economic cycle keeps moving, finally leading to economic growth and welfare. In this smooth running economic cycle, there creeps in the problem of economic instability. The problem of economic instability arises because of multiple factors affecting the demand and supply of goods in the economy. According to the classical economists, the instability in the economy arises due to the dynamic behaviour of each household towards its consumption and investment decisions. These individual decisions combined for an economy produce a collective demand and supply of goods and services, which is unstable in nature. For Example, person A and person B draw salary of 30,000 per month but person A chooses to save the amount for future consumption but person B chooses to spend the same for buying a motorcycle. Person A salary does not contribute to the economic cycle at present but person B salary helps the cycle to move. In short, every person acts according to their own needs and circumstances, which might not contribute to the economic cycle as mentioned above. This is t he sole reason for economic instability arising in the economy. The Classical Economists where the one who thought that economic instability is a regular phenomenon and should be left upon the natural forces to correct them. But we all are aware of the Great Depression of 1930s and the government seemed to be helpless. It was during this time that the economist realised that they had missed out on the basic fundamental of the economy. This was the time when the concept of macroeconomics came to light bringing along with it new theories and possibilities. In the later years, Keynes introduced us to the concept of Business Cycles. The Business cycle of boom, constant, recession and depression where thought of to be a natural phenomena, something that can be predicted. To everyones dismay the economic crisis seems to surpass all predictions. The US subprime lending crisis and the very recent Euro Crisis stand as testimony to the statements mentioned above. There is a general consensus among all economists including Keynes that a mild instability in the economy caused primarily due to inflation (not more than 5% on year-on-year basis) is good and depicts the healthy state of the economy. But Keynes on the other end advocated on the use of appropriate tools of macroeconomic policy to cure the instability in the economy. Every economy has a monetary and fiscal policy to control the macroeconomic instability in short run or long run. We have seen that the monetary policies where ineffective to lift the economy out of depression in 1930 and during the post World War II. Thus, Keynes along with several other economists was of the view that fiscal policy shall be used for correcting the economic instability. In India, the fiscal policy of the government mainly consists of taxation and public spending as tools for controlling any instability in the economy. The economic instability is mainly caused due to two factors: unemployment and inflation. The second term i.e. inflation or price instability is something the government seems more concerned because inflation leads to increase in prices of goods and services. Once there is rise in price, the real value of money decreases. The household in the economy turn bearish and stop buying the goods and services. This leads to reduction in production of goods which affects the economic growth of the country. Inflation can be reduced by controlling the growth of aggregate demand or giving a boost to the growth of aggregate supply. In other words, for bringing the economy from the state of instability to stability we need to control aggregate demand or aggregate supply component through proper fiscal policies. It can either choose to use the tool of contractionary fiscal policy or expansionary fiscal policy. Fiscal policies generally work through changes in the aggregate demand for goods and services as the effect is fast and effective. A fiscal expansion (increase in government spending through tax cut or increase public spending) leads to an increase in the aggregate demand for goods and services. An increased spending by the government leads to increase in disposable income for households (increased transfer payments or increased casual employment), thus leading to purchase of goods and services increasing aggregate demand. In a similar manner, if there has been a tax cut, the same shal l lead to increase in disposable income in the hands of the salaried individuals, thus increasing the spending or consumption, leading to an increase in aggregate demand. The importance of fiscal policy in bringing stability to the economy has also been recognised because of its ability to affect the amount of total output produced i.e. Gross Domestic Product (GDP). Contrary to the discussion made above, that fiscal policies affect the aggregate demand component and now we say that they affect the supply side of the economy. A closer look at the way in which the fiscal policy works would actually help us understand that fiscal policy affects the aggregate output and the prices of goods and services by actually affecting the aggregate demand. This happens because fiscal policies change the aggregate demand leading to changes in the aggregate supply, thus helping the economy in maintaining demand supply equilibrium. Further, it all depends upon the state of economy when the fiscal measures are taken by the government. If the economy is in the state of recession (i.e. there is continuous fall in the GDP of the economy over a period of time), fiscal expansion measure shall be undertaken by the government. A fiscal expansion measure shall provide people with employment opportunity and thus provide them with wages. The same shall be spent on purchasing of goods and services. This shall bring in money in the hands of entrepreneur and prompt him to kick start the production of goods and services due to the demand generated for the goods and services. Thus, there shall be an increase in the overall output of the economy or increase in GDP of the economy. If the economy is in the state of full employment level (i.e. all the people in the economy are employed and earning), this leads to the problem of excess supply of goods and services. The excess supply of goods leads to reduction in its price and thus a fall in investment. At this point of time, the fiscal policy will have more effect on prices and less impact on total output. A contractionary fiscal policy method shall be adopted which increase the amount of taxes on wages and services. This increase in taxes shall actually reduce the amount of disposable income in the hands of the people. Thus, there will be less spending on goods leading to reduction in aggregate demand for the commodity and thus reducing the aggregate supply as well. Fiscal responsibility is an important part of the government aim of seeing its economy grows over a period of time. Fiscal responsibility can only be achieved with judicious use of the fiscal tools available with the government. The same was realised by the US government when they had plunged into the subprime lending crisis. The main reason for the crisis was people obtaining loans from banks and locking their money in the real estate market. The real estate market was flourishing and people were hopeful of large gains leading to loan settlement. The banks also responded positively to the whole market scenario. Unfortunately, the real estate sector started becoming stagnant with people no longer interested in buying houses at such exorbitant prices. Within days, the real market sector stopped flourishing and in a matter of few weeks, people who had borrowed money from banks, declared themselves unable to repay the loans due to continuous loss. Several banks closed down due to the pr oblem of large NPA (Non-Performing Assets) accumulation and there was rampant unemployment. The situation turned such worse that government had to use its expansionary fiscal policy, in the form of providing bailout package to the banks for sustaining them during the crisis period. This gives us a clear example of the effectiveness of fiscal tools as an important measure to contain economic instability. A stable environment plays an important role in bringing economic growth. In order to achieve the stability, we need to understand the market forces, their mechanism and the factors hey react to. This makes the role of policymakers and the economists very critical. Their main work revolves around understanding the instability before it occurred and undertaking preventive measure to maintain stability. With the stability of the external and internal forces, brings back the confidence of people in their economic system, to invest their surplus in the market. With investments, the economic cycle starts moving leading to growth and welfare. Overall, the ability of fiscal policy to improve employment during recession and reduce the price levels during boom, leads to balanced economy in the short run. The automatic stabilizer tendency of the fiscal policy certainly makes it an effective tool for the government to manage short term instability in the economy. This means that the role of the government becomes essential as the proper use of the fiscal policies shall lead to stable economic growth of the economy. Bibliography Weil, D (2nd), The Concise Encyclopedia of Economics Fiscal Policy, Inflation Policies to control Inflation, Issing, O, Stability and Economic Growth: The Role of the Central Bank, 14th November 2014, Social Democracy for the 21st Century; A post Keynesian Perspective, May 2013, Guru, S, Importance of Fiscal Policy for Economic Stabilization (with diagram),

Youre NOT Doing Enough as a Freelance Writer

I havent landed a writing job yetwhat gives? Ive pitched soooo much, but havent heard back from any of them!!! Why? I spent hours on my writer website, but still, no gigs! Does any of these sayings sound familiar? Like you couldve said them yourself (or have thought them in the past)? Did you know that after the first year of freelance writing, the majority of writers fail? They stop freelancing for good and never go back. (A unicorn died when I learned this!) Being a freelance writer is also being an entrepreneur, and as an entrepreneur, youre going to face extreme highs and big lows. But, thats one of the reasons I LOVE freelance writing! I get to create those big highs if I wanted to and I can mitigate those lows, so they dont affect my bottom line. So, if you just started freelance writing as a beginner, I dont want you to feel defeated or frustrated because you havent landed your first gig. I want to help you because I suspect part of the reason you arent succeeding is that you dare I say it? arent doing enough as a freelance writer. *gasp I knowsounds harsh, doesnt it? Of course, youre doing all that you can! Of course, you only have 1 hour a day to make this work! Of course I know Straight talking here it is possible to make a living as a writer. Im doing it and have been doing it for five years. But, if youre already thinking of the donts instead of the dos, then youre setting yourself up to fail anyways. So, lets turn that around and get you that first freelance writing job. Ill share with you what I feel youre not doing enough and how you can incorporate that in what little time you have to devote to your side hustle. What Freelance Writers Arent Doing Enough Of 1. Youre NOT Pitching Enough One of the biggest ways you can improve your chances of landing your first writing gig is to pitch more often. Many writers that start out send around 200 pitches or less before they land a good gig. Other writers land their first gig immediately. There really is no right amount of pitches to send before you land a gig (I sent around 50 before I landed my first gig). But, if you dont hear back from the pitches you ARE sending, try sending MORE pitches. A good rule of thumb is: 10 pitches a day for 10 days. Whats great about this tactic is that you set a time frame 10 days and the amount you send per day 10. You can adjust this to fit your commitment, but the only thing I suggest is you extend the time frame if you end up lowering the number of pitches you send 5 pitches a day for 15 days. You can also change the format of what a pitch entails. For example, you can also include guest post pitches or podcast pitches along with your job ad pitches and cold pitches. 2. Youre NOT Available Enough Watching Youtube and relaxing! Did you know that I hire ghostwriters and bloggers to help me with my other blogs? Most of the freelance writers are professional and available, but theres always those few that I have a hard time contacting them or they never reply to my emails in a sufficient time frame. When that happens, I dont hire them. I need a reliable and available writer. This doesnt mean you should be at the beck and call of your clients; instead, be prompt when responding to emails 24 to 48 hours is sufficient. This allows for time changes with your clients or potential clients, as well as for the weekend (if you dont email on the weekend which is something I WOULD recommend for new freelance writers). See, my thing is that I want to remove as many barriers as possible for someone to hire me. So, I do my best to reply to leads as soon as they land in my inbox. And you should too! 3. Youre NOT Flexible Enough As a new freelance writer, you have to be open to expanding your niche or services. If youre dead set on writing about history, it might be hard to find the right client. Why not peruse job boards and see whats out there? Pitch to ones that are remotely interesting to you. This is what I did, and it served me well. This can also help you pick up your first writing gig much quicker when you expand your freelance writing niche. How do you expand your freelance writing niche? Look at related topics in that niche. For example, if you want to write about cryptocurrency, you should also be willing to write about home loans or investments. If your niche is mental health, why not also include mindfulness and exercising as topics? By, doing this, you can search for more freelance writing jobs and get a gig! The same goes for your services. Why not add editing or social media graphics as added services to your freelance writing? Prospects who land on your hire me page will see all you offer and may start you out as their editor, and from there you can pitch your writing after you know the client enjoys your editing relationship. 4. Youre NOT Negotiating Enough Sometimes the issue for freelance writers isnt that they cant find a job; its that the job is low paying. *think content mill rates! You can easily change this around by being firm in your negotiations. Try not to bend if a potential client says in their email: That rate is out of our budget. Can you cut your rate in half? Ouch! Some people! Forget what they say and be professional when you respond, Thanks for letting me know, but my rate is (x). If you need a professional writer later on or if your budget increases, feel free to contact me! Boom! Whos the boss now? Standing your ground will give you confidence, and you know what? That will carry with you on your next pitch, and I wouldnt be surprised if you didnt land that gig! The only time I would write for a lower-paying gig is if it can benefit me later one. For example, if the networking potential is greater than the actual gig. Or, if the gig sounds super fun and super easy and it would look good in my portfolio! 5. Youre NOT Reaching Out Enough Many freelance writers think this is a competition and its not! Instead of giving the stink eye to other freelance writers, connect with them and follow them! Share their blog posts and sign up to their email list! Networking its creeping up again! is soo powerful! It is what can increase your income and move you up the income ladder. By doing this, you will see other freelance writers giving away potential gigs if they have a full schedule. Similarly, if youre booked up, you can connect with your list of freelance writers and see if they want to pick up another writing gig. Some of my best freelance writing jobs came from other freelance writers or from their referral! So, how can you connect with more freelancers? Follow them on Twitter Follow them on LinkedIn Join Facebook groups and search for freelancer And connect with other freelancers like graphic designers and coaches! Maximize Your Time as a Freelance Writer What if you have NO time to start this freelance writing business? What if you only have one hour a day or three hours a week to do this? First, list out the most important tasks you need to accomplish: Create three writing samples Pitch 5 times a day for 10 days Start a Twitter profile and follow 10 freelancers Find five companies to cold pitch to Create a pitch template Once you write down your list, next write out how long you think each task will take and plug that into the time you have during the week. This will give you a framework to work off of. You also should get creative on your time. Instead of vegging out after dinner watching your shows, pitch or find businesses to cold pitch to. You might have to nix Netflix for a month to land a few clients! Totally worth it though, right? If you still find this difficult to execute, why not have an accountability partner? It doesnt have to be your husband or wife or a friend; it can be another freelance writer you connected with on Facebook! Reach out to them and see where they are in their freelance journey and see if you can hold each other accountable to grow your biz together! Wrap Up There ya go! Im telling it like it is! I hope this gives you the motivation you need to get up and take action! I want to help you succeed and find that freelance writing job thats right for you! Tell me in the comments what you feel you arent doing enough! Maybe we can brainstorm some ideas on how to increase your productivity so you can land some writing gigs!

Bech Boys Essays - Carl Wilson, Dennis Wilson, Brian Wilson

Bech Boys Essays - Carl Wilson, Dennis Wilson, Brian Wilson Bech Boys The Beach Boys Beginning their career as the most popular surf band in the nation, the beach boys finally emerged by 1966 as Americas biggest pop group, the only one other group to challenge this was the Beatles. In 1961 debut with the popular hit Surfin, the three Wilson brothers, Brian, Denies, and Carl. Plus cousin Mike Love and friend Al Jardine constructed the most intricate, gorgeous harmonies ever heard from a pop band. With Brians studio proficiency growing by leaps and bounds during the mid-60s, the Beach Boys also proved to be one of the best produced groups of the 60s. Though Brians escalating drug use and obsessive desire to trump the Beatles, eventually led to a nervous breakdown after he heard Sgt. Peppers Lonely heart club band, the group soldiered on long into the 1970s and 80s, with Brian only an inconsistent participant. The bands post 1966 material is often maligned , but the truth is the Beach Boys continued to make great music well into the 70s. Displayed best on 1970s Sunflower, each member revealed individual talents that had never been fully developed during the mid-60s, but they still became Americas first, best rock band. Situated close to the pacific coast. The three sons of a part time song writer and occasionally abusive father, Brian, Denies and Carl grew up a few miles from the ocean, but only Denies had any interest in surfing. The three often harmonized together as youths, spurred on by Brians fascination with 50s vocal acts like the Four Freshmen and the Hi-Los. Their cousin Mike Love often joined in on the impromptu session, and the group gained a fifth with Brians high school football teammate, Al Jardine. His parents helped rent instruments, with Brian on bass, Carl on guitar, Denies on drums, and studio time to record Surfin, a novelty number written by Brian and Mike Love. The single, initially released in 1961 on candix and billed to the Pendletones, prompted a little national chart actions and gained the renamed Beach Boys a contract with capitol negotiated by the Wilsons father Murray, who took over as manager for the band. Finally, in mid 1962 the groups released their major-label debut, Surfin Safari. The single hit the top 20 and helped launch a surf-rock craze that blossomed around southern California and sparked artists like Dick Dale, Jane and Dean , the Chantays, and dozens more. A similarly theme follow up, Surfin USA, hit the top in early 1963 before Jardine returned from school and resumed his place in the group. By that time , the Beach Boys had recorded their first two albums. By the end of 1963, the Beach Boys had recorded three full LPs, hit the top ten as many times, and toured incessantly. Brian had begun to grow as a producer, and was acknowledged as such by their third LP, Surfer Girl. Though there were still plenty of surf songs on the album, Catch A Wave, In My Room, and the title track presented a leap in song writing, production and group harmony that was simply astonishing considering the brief length of time that the group had actually been recording artists. Inspired by Brians intense scrutiny of the wall of sound productions by Phil Specter, the song revealed a depth of musical knowledge that was intuitive and unerring. With the Beach Boys as his musical messengers to the world, Brian began working full time in the studio, writing songs and enlisting the cream of Los Angeles session players to record the instrumental backing tracks before Carl, Denies, Mike and Al returned to add vocals. The single Help Me, Rhonda became the Beach Boys second chart topper in the early 1965. The groups seventh studio LP, the Beach Boys today!, was the great leap forward that saw Brians production skills hit another level entirely. The rock eras first flirtation with extended album length statements, side two of the record presented a series of downtempo ballads, arranged into a suite that stretched the groups lyrical concerns beyond youthful infatuation and into more adult notions of love. In late 1965, the Beatles released rubber soule, and Brian was amazed at the consistently high quality of the songs on the

Economic event ( read steps down ) Essay Example | Topics and Well Written Essays - 1000 words

Economic event ( read steps down ) - Essay Example In brief, the Reagan Tax Reform Act of 1986 was passed by a bi-partisan majority in both house and senate and signed into law by the President. What this affected was lowering the top individual income tax rate from 50% to 28% (Cebula 132). Although this was a vast reduction, it was in fact revenue â€Å"neutral† as the tax burden that was created from the savings was merely passed off onto businesses. President Bush further passed legislation that reduced the tax burden down from 28% to 20%. This has caused an ever increasing budget deficit as Washington is both unable to curtail spending and seemingly obsessed with further tax cuts. It is this cycle of ever increasing budgets and the inability to raise taxes on any group due to the political pressures that have evolved into the unique situation that both political candidates face. Further complicating the issue is the fact that Mitt Romney’s plan intends on keeping the Bush era tax cuts and extending them indefinitely. Similarly, his tax plan claims that although no additional percentage tax increases will be affected, additional revenue will be generated by reducing itemized deductions and other special benefits that the wealthy typically enjoy on their taxes. Analysis by independent think tanks and tax analysts have proven that this particular maneuver will not even come close to closing the revenue gap that further reduction in the highest individual rates will have (William 4). Furthermore, if Mr. Romney will be able to meet the same level of tax revenues while reducing the tax revenues generated from the wealthy, this will invariably be dependent upon the plan’s ability to cover the shortfalls of tax revenue/generation. Likewise, a primary issue that one quickly realizes when analyzing Mitt Romney’s tax plan is the fact that he is interested in: cutting the

Principles and Practice of Leadership and Management in a Learning Essay

Principles and Practice of Leadership and Management in a Learning Disability Context - Essay Example It is common for these individuals to have some extra needs in care and communication, and helping them reduce stress and feel comfortable is one of the major responsibilities of their caregivers (Clements 1987). It is normally necessary to have the disabled people live in areas where they have easy access to both medical and psychological care. This is mostly done in institutions or in the context of the community (Turnbull 2004). Consequently, it is the responsibility of those charged with managing institutions that care for these individuals to put in place measures that ensure that these people are awarded the most conducive atmosphere with as little discomfort as possible (Dalby & Knifton, 2012). During my training as a learning disability nurse, I have been to various institutions and have met varying management styles. In analyzing the qualities a manager should possess, I will first review two different institutions and their managers to try and draw out the reason why manage ment is an important factor in the success or failure of these programs. A success story One of my initial placements took me to an institution caring for people who needed psychiatric care. On getting to the facility, I was introduced to my supervisor who took his time to introduce me to all members of staff, a situation that helped me feel welcome. I was then handed a set of papers that outlined what was considered best practices in the institution, and was informed that the first item on my itinerary would be to attend a two hour seminar where I would be brought up to speed with the requirements the managers set for all the staff at the institution. I was impressed with the level to which the management went to ensure compliance with the best practice guide, and immediately understood why the institution was ranked among the best in psychiatry care in the country. The manger had set guidelines which he insisted strict adherence to. The seminar was supposed to; Plant a deep workin g knowledge of all issues regarding psychiatry. In this aspect, one was always encouraged to consult with their peers or those senior to them in case they encountered a situation or issue they were not familiar with. Explore how difficulties in communication were manifested in the mentally disabled, and how to make the best out of whatever channels were available to communicate with the patients in an individual level. To educate the staff on consent and capacity issues with respect to people with psychiatric needs and on how best to navigate around the issues Inform the managers and support staff on the resources available to them in the hospital, and on other organizations that offer psychiatric services. The manager was a stickler to detail and insisted on the highest levels of discipline. He led by example in implementing the guidelines on treating people with learning disabilities as equals. In my early days, one case stood out that engraved the importance of having staff and d epartments organized in a conveyance belt model for service provision as spelt by Gates (2009). In the witnessed case, an emergency rescue team had called in on a patient who had recently been discharged, but who had had a recurrence, was physically aggressive and had inflicted some injuries on her body which needed a minor surgery. Since the institution

Uses of Brand Extension Strategies

Uses of Brand Extension Strategies 1- PROBLEM AND ITS BACKGROUND This chapter contains background of our study, statement of the problem, significance and delimitation of the study. Furthermore Definitions of the terms used in this dissertation are also explained in this chapter. 1.1 Introduction One of the most famous strategies to leverage brand equity is brand extension. It is believed that consumers will favor new extension if new products are under the label of already established brand name.Familiarity and trust with the parent brand is one of the factor due to which companies hope that their consumers will react in a favorable manner. It is beneficial for the companies because of the positive association which consumers already have with the parent brand. A brand is the identity of a specific product, service, or business. (Kotler 1996). Brand extension denotes to the corporate activity in which companies bring in new products, new product variants or product improvements by leveraging the brand equity of the existing parent brand. It is believed that instead of establishing an entirely a new brand, extension of brands can be favorable for companies in terms of promotional and awareness activities, distribution, customer perceived risk in buying any product of service. (Keller, 2002) stated that another major factor for which Companies prefer to use brand extension is lower cost. Introducing a new brand into consumer market can be relatively much higher than introducing new product or product variants under the same brand name. This cost can range above millions of rupees and can not guarantee of any success. So instead of launching entirely a new product, most companies prefer brand extension. Successful examples such as Diet Pepsi and Diet Coke benefited from the brand franchise of their parent products. Coca-Cola introduced six extensions and captured a larger market share than the original brand. For example, Cokes extension, Cherry Coke, was successful even without considerable advertisement. Apart from benefits of brand extension there are some potential problems associated with brand extension, such as failure or semi failure of brands like brand dilution or brand cannibalization. Rather than success of brands, failed extension might maculate the parent brand name thus the result would be reduced market share of the parent brand. Brand association in terms of quality and consistency are crucial for any brand extension to be successful in the eyes of the consumers. Association with the brand is also dependent on consumers own values, preferences, taste, buying situation and manager should always focus on what these dependent variables are and when they come into action. Take an example of new Coke; Coca Cola did not pay attention to what the core brand meant to stand for. It mainly focused on the taste and thought that the taste is the only factor which consumers are looking for. This concept was wrong. Coca cola was unable to identify the attachment of the consumer with the original coke before launching New coke, even though Coca Cola spent a lot of money on conducting research before launching New coke. Brand dilution occurs when consumers loss the original grasp of brand perception on their minds and no longer associate the brand with a specific product. For instance, Sunsilk may experience brand dilution by loosing its strong identity of hair care and shampoo range by running a number of different categories like mashed potatoes, powdered milk and soups. Too broad varieties of product categories run under same brand can frustrate consumers in thinking which variations of products that actually fit to their perceptions. For Example, too many ranges of Sunsilk shampoo include Sunsilk black, pink, white, yoghurt, dandruff can make customers confused in buying a suitable product which actually fit to their needs. Consumers these days have now become selective and demand innovative products. Those brands which are not unique or innovative in any means eventually got tarnished. Consumers do not prefer such extensions which do not offer any innovation or new features in extended brands. Consumers perception about parent brand and extended brand is one of the factors which may lead to either success or dilution of brand. Success and failure of brand is also dependent on familiarity with the parent brand and concept of fit between parent brands and extended brand. Brand loyalty by a consumer can be changed in case of brand extension. If brand extension is favorable it may lead to more loyalty towards the parent brand and if brand extension in unfavorable then the effect would be opposite. As per early research regarding brand extension leads to brand dilution, Aaker and Keller (1990) found insignificant evidence between unsuccessful brand extension leads to brand dilution. Conversely, in a research (Loken and Roedder-John 1993) pointed that inconsistency of product and brand beliefs may lead to brand dilution. Brand dilution and failure of brand can occur when consumer find it difficult to associate the extension with the parent brand, a lack of similarity and familiarity and discrepancy between Integrated marketing communication messages. Brand extension is a strategy which most of the companies are using to minimize risk associated with introducing an entirely new brand and to maximize their profits from the new brand. But in some of the cases brand extension fails, and the reason is the weak brand equity of the parent brand that bears upon the success of the brand extension. If the equity of parent brand is strong, brand extension can be successful and vice versa. Both Functional and non functional attributes of a brand can harm and eventually dilute the equity of an integrated oriented brand, which means due to the weak brand equity, brand dilution can occur across the parent brand. Such kind of failures of extensions can make customers to create a negative association with the parent brand or even with the brand family. These failures can also agitate and blur the original identity and meaning of a brand even positioning as well. Brand managers already know that there are some advantages and disadvantages associated with brand extension. Nevertheless couple of unsuccessful brand extension in past years was noticed. To be successful in brand extension knowledge related to brand extension should be refined. Brand extension is successful or not is decided by what factors? One of the most important factors is concept of fit. Fit with the parent brand in terms of quality and image. It is customer perceived fit which plays an important role in making consumers to decide whether extended products are favorable or unfavorable. If fit between parent brand and extended brand is as per consumers perception then consumers will respond more favorably to that extension and if fit between parent brand and extended brand are not as per consumers perception then consumer will respond to that extension unfavorable and it might lead to the failure or dilution of the brand. According to Martinez and de Chernatony (2004) brand image has two types: the general brand image and the product brand image. According to them there would be no negative impact on general brand image if the brand image is strong for example, Nike or Sony. Dilution effect would be more on product image instead of general brand image. Therefore, mostly the customers would stick to their beliefs about the parent brand with respect to its attributes and feeling. Nevertheless their study shows that â€Å"brand image can be diluted by brand extension, and beliefs and association with the parent brand can also be changed. In Pakistani environment companies especially MNCs prefer brand extension because they consider it more convenient. Top most cause for this is that products from multinationals already have an image of developed countries. Due to the past record of products from these developed countries, consumers give them positive response. Due to the image of product from these countries in the mind of the consumers, less cost is incurred by the companies on creating awareness and communicating about the product message with the target audience. These products already have good market share and media coverage; therefore it becomes easy to launch brand extension in Pakistan for such companies. 1.2 Statement of the Problem Since last couple of years, new product failure has been observed quite a few times. As a result companies now are relying on brand extension instead of launching new products. There are couples of other reasons instead of new brand failures, which companies consider for brand extension, such as low promotion and awareness cost, acceptance and less chances of being failed. Though these advantages are considered by companies to use brand extension as a part of their branding strategy, but apart of these advantages there couple of failed extensions have also been observed in last couple of years. Researchers are now focusing to identify the factors which are useful in evaluating brand extension and factors which play a role in either failure or success of brand extension. In this Thesis we will also try to find about the favorability or unfavorability of brand extension. Most of the researches which were conducted to know about the favorability or unfavorability of brand extension were focused on consumers point of view about brand extension. But as a matter fact it is quite difficult for consumers to evaluate whether brand extension is favorable or unfavorable. They can not evaluate it in undifferentiated fashion (Aaker and Keller, 1990, Keller and Aaker, 1992; Dacin and Smith, 1994; Smith and Andres, 1995). Brand extension according to consumers point of view was taken into consideration many a times, but very low attention was given to the managers point of view about brand extension (Nijssen and Agustin, 1999).Managers point of view regarding brand extension can give an extensive knowledge about brand extension because of their deep analysis about consumers and competitors and their personal experiences about the market and the brands. Hence in this thesis we will focus on managers perspective about brand extension along with consumers point of v iew. Both local and multi nationals are into brand extension from a long time. Such as Nestle , Pakola (Pakola, bubble up, Applesidra, double cola, Pakola milk), Sunsilk (Sunsilk black, Sunsilk white, Sunsilk pink, Sunsilk yoghurt, Sunsilk egg), Haleeb food Pvt Ltd (Milk, Juices, Cream, yoghurt), National Food (Pickle, salt, spices), Shan Food(spices, pickle, food), Unilever Pakistan (Lifebuoy, Soaps, Shampoo, Ice creams, Washing powder), PG (Soaps, Shampoo, Ice creams, Washing powder) Pakistan By keeping above relation in mind, it will be beneficial to have brand managers point of view about the success or failure of brand extension. 1.3 Significance of the Study The significance of this thesis is to explore the use of brand extension strategies in the Pakistan context. Whether the strategy of brand extension is favorable or not, or due to brand extension, brands gets diluted or cannibalized? Since brand extensions is one of the most popular strategies for leveraging brand equity, this study will also focus on brand extension effect on brand equity. This thesis will focus on brand extension strategies of products from various companies which include Haleeb Foods Ltd Pakistan, Nestle, Pakola and Head Shoulders. Various companies insights regarding brand extension will help us to study favorability or unfavorability of brand extension in a well manner. We will try to achieve this purpose by answering the following research questions. RQ1. What are the reasons to choose brand extension as a part branding strategy? RQ2. Is brand extension favorable or Unfavorable? Above mentioned two research questions were divided further into a set of questions. Purpose was to gain a deep insight to answer these two research questions. By answering above question, we will come to know whether brand extension is favorable or it leads to brand dilution, and whether brand extension is favorable for those companies who prefer extension and are involved in brand extension from couple of decades. We will also come to know that for what reasons companies in Pakistan are using brand extension, and whether brand extension is in accordance with the successful brand extension concept or not. This thesis will be beneficial in indentifying the success rate or failure rate of brand extension of those companies which have been chosen for this thesis. 1.4 Scope and Delimitation This thesis focused on brand managers of those companies which are operating here in Pakistan. Only four products have been chosen for which research is conducted to identify whether brand extension is favorable or unfavorable. So the product range is limited to four companies only. Another limitation faced during the course of this study was that brand extension strategy for most of the multi national companies are crafted in their home country and then implemented here in Pakistan. Furthermore, Interview process is chosen to know about brand managers point of view about failure or success of brand extension. Out of 4 brand managers, 2 interviews were taken on telephone and 2 were taken face to face. Due to the limitation of telephonic interview, non verbal responses could not be gauged. Other limitation confronted during the course of research was the fact that majority of multinationals (MNEs) formulate brand extension strategies at their head quarters abroad. Lastly, we came to k now that in Pakistan brand extension responsibilities is handled by marketing managers instead of brand managers in some companies. 1.5 Definitions 1.5.1 Brand According to (American Marketing Association 2007 brand is: A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition†. 1.5.2 Brand extension According to (Aaker 1991) brand extension can be defined as utilizing an already established brand to enter from one class of product category to another class of product category. (Kotler 1991) defined brand extension strategy as exploiting a well known and successful brand name either to launch a new or modified product can be termed as brand extension process. As per (Kotler Armstrong 1990) defined brand extension strategy as an expansion strategy, where companies try to further extend their already established and well known brands into either different other categories or in same category with some modification. 1.5.3 Product Line Extension (Kotler Armstrong 1990) defined product line extension as a process of using already established brand name to introduce new items with some extra innovation or modification in the same category. For example Pakola has extended its soft drink named â€Å"Pakola† into Pakola raspberry, Pakola leeche, Pakola orange, Pakola lemon. (Aaker 1991) elaborates product line as line extension occurs in the form of introducing new items under the same brand name in the same category with some modification in flavors, colors, specification, ingredients and package sizes. Product line extension is somehow differs with brand extension because brand extension is about using an established brand name to introduce new product and brand in different categories, while line extension leveraging and established brand to introduce new products in same category with some improvements, modification and enhancements. 1.5.4 Brand Dilution According to (Aaker 1991) brand dilution is depraving of a brand via its overexploitation. This failure of brand occurs when extension is done in a poor manner, or when a brand with poor equity is leveraged to extend it into different other categories. This failure can also occur when an extension becomes unfavorable in the mind of consumers. As per (Kotler Armstrong 1990), unfavorability of a brand in the mind of the consumers can be due to lack of quality, over pricing, lack of consistency with the parent brand, lack of innovative feature and lack of trust. Brand dilution can be a disaster for a company. Companies use their well known established brands to leverage their equity and image to further extend it for entering into different market segments, which gives them a chance to earn higher profits. This can be true when parent brand equity is strong. But if equity of any brand is weak, then consequences might include dilution or failure of a brand. 1.5.5 Brand Cannibalization (Kotler 1991) defined brand cannibalization as reduction in sales revenue and diminishing of share of market resulted as the introduction of new products in the same category For example, when diet coke was introduced by Coca Cola, sales for original coke diminished, but eventually it led in expansion of diet soft drink market. In case of Haleeb food, introduction of tea whitener diminished the sales of UHT milk, because consumers previously were using milk for making tea, but with the introduction of tea whitener, some consumers started to prefer tea whitener instead of milk, which resulted in cannibalization of milk category. 1.5.6 Brand Equity According to (Wood 2000) brand equity can be defined as a profitable relationship between a brand and its consumers. (Kotler and Armstrong 1996) reported that it is quite difficult to measure equity of a brand. Yet a strong brand results in strong brand equity which can be leverage to extend into different other categories. Conversely weaker brand means weak brand equity which can result in failure if extended into different other brands. Strong brand equity may lead to achieve brand loyalty, quality, brand association and awareness. These benefits help companies to incur less cost on communication and awareness. 1.5.7 Brand Association (Kotler and Armstrong 1996) defined brand association as refers to a degree where consumers discern a brand in rich fashion. Positivity of any brand depends upon how deeply that brand is penetrated in the mind of the consumers in positive fashion. Brand associations are the properties of a brand which consumers recall whenever brand is talked about. Consumer relates a brand name with its implicit or explicit meanings. Brand association can also be termed as the level to which a specific product/service is acknowledged amongst its product or service family. When choosing a brand name, it is important that the name selected must reinforce an essential dimensions and specification or benefit association that forms the position of a product. 2- RESEARCH METHODOLOGY PROCEDURE In this chapter we will discuss and justify methodological choices which we have made for our research. Below mentioned figure presents an overview of the research method which will be used in this chapter for our research. Source: Adapted from Foster (1998), p.81 2.1 Research Purpose (Yin 1994) and (Wiedersheim-Paul and Eriksson 1998) found in a research that there are basically three types of research: Explanatory Exploratory Descriptive According to (Wiedersheim-Paul Eriksson, 1998) basis purpose of the explanatory research is to craft and specify the issues of the research. This type of research is beneficial when the problem is quite difficult to analyze. According to Patel and Tebelius (1987) explanatory research is used when researcher want to gain more and more information about any specific issue. Moreover, Reynolds (1971) said through explanatory research, researcher can get comprehensive information about research defined problem. (Saunders, Lewis Thornhill, 2000) found that descriptive research is useful when the problem of research is properly defined and crafted in a well manner. For this purpose, researcher must have complete information about the problem defined in the research. Collection of data must be started after having a clear understanding about the problem defined form research. Furthermore, (Wiedersheim-Paul Eriksonn 1998) described that the main objective of descriptive research is to iden tify the applicable facets of the problem of the research. For conducting descriptive research researcher has to deeply define these facets, and there must be a relation between and describe these aspects more thoroughly without researching connections between reasons and indications. For our research we will initially try to define the reasons behind brand extension. Why do companies in Pakistan prefer engaging in brand and line extension activities? Furthermore, we will also try to identify the favorability and un-favorability of brand extension in Pakistani markets and companys perspective. For gaining deep understanding about the research question defined previously, we have considered exploratory research as a part of our research. The reason is that before this research no study has been taken into consideration to know about brand extension activities in Pakistan and we want to gain as much information as we can. Along with exploratory our research is explanatory as well. We will try to explain the result which we will get through our research. On the basis of our respondents responses we will try to draw a conclusion. 2.2 Research Approach To gain a deep information about brand extension strategies in Pakistan and whether it is beneficial or not beneficial for Pakistani market we have to consider two approaches, First one Qualitative and second one is Quantitative research. (Ponteerotto, 2006) found that quantitative research approach is used when we have to gain lean descriptions and we use qualitative research when we have to gain comprehensive descriptions. In our previous chapter, we explained our research question which includes the reasons behind brand extension in Pakistan and advantages and disadvantages of brand extension in Pakistani markets perspective. We will also try to know about the factors leading to the success and failure of brand extension. (Ponterotto 2006) found that to conduct qualitative research, most beneficial instrument can be in-depth interviews because in-depth interviews researcher can define the different facets of human experiences which results in having a deep understanding about the research topic. (Holme and Solvang 1991) compared quantitative research as a conventional and integrated research approach. In quantitative research approach final results can be presented in the forms of facts and these results are also measureable. One of the main purposes of quantitative research approach is make the consequences of the research of few variables to higher numbers of entities. According to (ibid 2000) qualitative research approach uses qualitative data to draw a conclusion. It draws conclusion on the basis of factors like peoples attitude, perception, values, likes and dislikes. By using qualitative research approach, results can be drawn by gather information through specific number of entities. This process can provide us the opportunity to gain a deep understanding of the research. By keeping the above mentioned description in our consideration, our research focus would be qualitative. One reason for choosing qualitative research approach as our research approach is that we want to gain as much information regarding our topic as much we can. This research approach would give us deeper information regarding brand and line extension activities in Pakistani perspective. For conducting our research for brand and line extension activities in Pakistan and its favorability or un-favorability, initially we approached many companies, out of which four companies agreed to provide us information regarding our research topic. Before conducting our interviews with our respondents, we sent a questionnaire to our respondents.. These interviews were not recorded and average time for an interview was approximately thirty to fifty minutes. Finally, to clear some doubts regarding the first three telephone interviews the companies were re-contacted to clear the doubts in some ques tions. 2.3 Respondents of the study Following companies were chosen to gain an insight about brand extension favorability or un-favorability from brand managers perspective. Initially, we approached many seasoned companies, out of which four companies brand manager agreed to give us time for interviews. Haleeb Foods Limited Pakistan Pakola Nestle Head Shoulders (PG) 2.3.1 Haleeb Foods Ltd Pakistan Haleeb Foods Limited is one of the biggest Dairy company of Pakistan which is operating in many different categories such as Juices, UHT milk, Tea whitener, and other dairy products. Haleeb foods came into existence in 1986 Haleeb foods initially started to produce Haleeb Milk. Later on Haleeb foods entered into different other segments of the market and different other categories. Since from its establishment, Haleeb food came up with many of brand and product line extension which Haleeb foods did successfully. Mr. Adil Suleman brand manager of Haleeb foods limited Pakistan was contacted via telephone to have this interview and to gain insight about brand extension of Haleeb in Pakistan. 2.3.2 Pakola Pakola is a beverage company which came into existence in 1950 by Haji Ali Muhammad. Initially Pakola focused on producing a soft drink which represented the drink of Pakistan. Later on as a part of brand and product line extension, Pakola introduced couple of other products which includes flavored soft drink and milk range, mineral water and juices. Mr. Mubeen Munnawar Marketing Manager of Pakola was contacted to have an interview to gain information regarding brand extension activities of Pakola in Pakistan. It was a face to face interview, and during the course of this interview, we gained deep insight about brand extension activities, favorability and unfavorability of Pakola brand extension. 2.3.3 Nestle Nestle was founded in 1866 by Henry Nestle and today Nestle if one the worlds largest beverage and food company. Nestle since from last couple of decades is into brand extension and product line extension. As a result of brand and product line extension Nestle has introduced couple of successful brands. Nestle has integrated innovation and renovation techniques in its principles. Nestle extend its brands through innovation and renovation. Mr. Adnan Tariq, brand manager of Nestle was contacted via telephone to get an insight about Nestle brand extension activities in Pakistan. During this interview Mr. Adnan Tariq gave us some valuable information regarding brand extension activities of Nestle in Pakistan and favorability and unfavorability of Nestle brand extension in Pakistan. 2.3.4 Head Shoulders Head Shoulders is an anti dandruff shampoo range introduced by PG. After a thorough research a new anti dandruff formula was developed which they used in developing Head Shoulders and it was first introduced in 1950. Head Shoulders have got a ranges of shampoo which includes classic clean, citrus breeze, refresh, extra volume, dry scalp care. Mr. Shaif Shafiq, who is associated with PG from a long time, was contacted to gain valuable information about brand extension strategy of Head Shoulders in Pakistan. Information the success or failure of Head Shoulders was also gained. During the course of this interview questions related our topic were asked and responses were noted down for future consideration. 2.4 Research Instrument 2.4.1 Interviews As per (Breakwell 1995) interviews as a research instrument can be useful because it is considered as a very flexible tools and due to its numerosity of phase in the research work. According to (ibid 2000) it is easy to use interviews as a part of research instrument because of its multi faceted nature of the research design. Observations and questionnaire can be used as a part of interviews to collect data for our research approach. Using interviews as a part of our research, we first took our research framework into our consideration. By keeping our research framework in our mind we developed a questionnaire which consisted of series of questions regarding reasons for brand extension and its favorability or unfavorability. Some irrelevant questions were late on excluded from our questionnaire before conducting our interviews. 2.5 Sources of Data (Wiedersheim-Paul and Erikson 1997) purposed two types of data collection method. First one is Primary data and second one Secondary data collection. Primary data is the first hand information which is collected for some specific purpose while second hand data is already published data which was collected for some other purpose or some other research. Moreover, (ibid 2000) shed some light on data collection methods as, there can be three different types of data collection method. First one is observation, second one is interviews and the last one is documentation. As per (Yin 1994) interviews can be one of the most reliable source for collecting data. Using interviews as a data collection method, interviewee and interviewer both can focus on the topic. Furthermore, (ibid, 2000) elaborated that interviews can be useful when it comes to gain insights of the interviewee about any specific topic. 2.5.1 Primary Data In previous section we focused more on that secondary data collection method for research can not be ample to identify more accurate and reliable information about any specific topic of research. When it comes to identify about the reason behind brand and product line extension and its favorability or unfavorability, it is important to determine what companies and their brand managers think about brand extension and product line extension. For this purpose use of primary data collection can be beneficial. Thus interviews are selected as an instrument for primary data collection method. These interviews include face to face and telephonic interviews. According to (Churchill, Gilbert A., Iacobucci and JR. Dawn, 2005), â€Å"proper communication can be a reliable and beneficial instrument for data collection. The reason is that in communication method no one forces researchers to wait for a certain event to be occurred†. (p. 167). Nevertheless, communication techniques have some drawbacks. In communication techniques it is not confirmed whether the answer to the research question will be obtained in an accurate manner. Using communication has some weaknesses. One of a reason for this is that responses are dependent on interviewees will to pass on the expected information. 2.5.2 Secondary Data For our research regarding brand extension and product line extension in Pakistani perspective, we also focused on collecting some secondary data. As per (Churchill, Gilbert A., Iacobucci and JR. Dawn, 2005) â€Å"for conducting any research, we must begin with searching for secondary information†. (p, 167). Using secondary data collection for gaining information can be beneficial in terms of having an initial idea about what have already been researched about the topic. Some useful information about research topic, already published information can also be gained in a timely fashion. Apart from advantages of secondary data collection method, there are some drawbacks associated with secondary data collection method. Secondary data can not be sufficient to give complete information regarding specific question of research. Furthermore, already published information was collected for some other purpose which not necessarily answers the question which you have included in your the sis. Indeed, according to them first of all, the data had been â€Å"collected for someone elses p Uses of Brand Extension Strategies Uses of Brand Extension Strategies 1- PROBLEM AND ITS BACKGROUND This chapter contains background of our study, statement of the problem, significance and delimitation of the study. Furthermore Definitions of the terms used in this dissertation are also explained in this chapter. 1.1 Introduction One of the most famous strategies to leverage brand equity is brand extension. It is believed that consumers will favor new extension if new products are under the label of already established brand name.Familiarity and trust with the parent brand is one of the factor due to which companies hope that their consumers will react in a favorable manner. It is beneficial for the companies because of the positive association which consumers already have with the parent brand. A brand is the identity of a specific product, service, or business. (Kotler 1996). Brand extension denotes to the corporate activity in which companies bring in new products, new product variants or product improvements by leveraging the brand equity of the existing parent brand. It is believed that instead of establishing an entirely a new brand, extension of brands can be favorable for companies in terms of promotional and awareness activities, distribution, customer perceived risk in buying any product of service. (Keller, 2002) stated that another major factor for which Companies prefer to use brand extension is lower cost. Introducing a new brand into consumer market can be relatively much higher than introducing new product or product variants under the same brand name. This cost can range above millions of rupees and can not guarantee of any success. So instead of launching entirely a new product, most companies prefer brand extension. Successful examples such as Diet Pepsi and Diet Coke benefited from the brand franchise of their parent products. Coca-Cola introduced six extensions and captured a larger market share than the original brand. For example, Cokes extension, Cherry Coke, was successful even without considerable advertisement. Apart from benefits of brand extension there are some potential problems associated with brand extension, such as failure or semi failure of brands like brand dilution or brand cannibalization. Rather than success of brands, failed extension might maculate the parent brand name thus the result would be reduced market share of the parent brand. Brand association in terms of quality and consistency are crucial for any brand extension to be successful in the eyes of the consumers. Association with the brand is also dependent on consumers own values, preferences, taste, buying situation and manager should always focus on what these dependent variables are and when they come into action. Take an example of new Coke; Coca Cola did not pay attention to what the core brand meant to stand for. It mainly focused on the taste and thought that the taste is the only factor which consumers are looking for. This concept was wrong. Coca cola was unable to identify the attachment of the consumer with the original coke before launching New coke, even though Coca Cola spent a lot of money on conducting research before launching New coke. Brand dilution occurs when consumers loss the original grasp of brand perception on their minds and no longer associate the brand with a specific product. For instance, Sunsilk may experience brand dilution by loosing its strong identity of hair care and shampoo range by running a number of different categories like mashed potatoes, powdered milk and soups. Too broad varieties of product categories run under same brand can frustrate consumers in thinking which variations of products that actually fit to their perceptions. For Example, too many ranges of Sunsilk shampoo include Sunsilk black, pink, white, yoghurt, dandruff can make customers confused in buying a suitable product which actually fit to their needs. Consumers these days have now become selective and demand innovative products. Those brands which are not unique or innovative in any means eventually got tarnished. Consumers do not prefer such extensions which do not offer any innovation or new features in extended brands. Consumers perception about parent brand and extended brand is one of the factors which may lead to either success or dilution of brand. Success and failure of brand is also dependent on familiarity with the parent brand and concept of fit between parent brands and extended brand. Brand loyalty by a consumer can be changed in case of brand extension. If brand extension is favorable it may lead to more loyalty towards the parent brand and if brand extension in unfavorable then the effect would be opposite. As per early research regarding brand extension leads to brand dilution, Aaker and Keller (1990) found insignificant evidence between unsuccessful brand extension leads to brand dilution. Conversely, in a research (Loken and Roedder-John 1993) pointed that inconsistency of product and brand beliefs may lead to brand dilution. Brand dilution and failure of brand can occur when consumer find it difficult to associate the extension with the parent brand, a lack of similarity and familiarity and discrepancy between Integrated marketing communication messages. Brand extension is a strategy which most of the companies are using to minimize risk associated with introducing an entirely new brand and to maximize their profits from the new brand. But in some of the cases brand extension fails, and the reason is the weak brand equity of the parent brand that bears upon the success of the brand extension. If the equity of parent brand is strong, brand extension can be successful and vice versa. Both Functional and non functional attributes of a brand can harm and eventually dilute the equity of an integrated oriented brand, which means due to the weak brand equity, brand dilution can occur across the parent brand. Such kind of failures of extensions can make customers to create a negative association with the parent brand or even with the brand family. These failures can also agitate and blur the original identity and meaning of a brand even positioning as well. Brand managers already know that there are some advantages and disadvantages associated with brand extension. Nevertheless couple of unsuccessful brand extension in past years was noticed. To be successful in brand extension knowledge related to brand extension should be refined. Brand extension is successful or not is decided by what factors? One of the most important factors is concept of fit. Fit with the parent brand in terms of quality and image. It is customer perceived fit which plays an important role in making consumers to decide whether extended products are favorable or unfavorable. If fit between parent brand and extended brand is as per consumers perception then consumers will respond more favorably to that extension and if fit between parent brand and extended brand are not as per consumers perception then consumer will respond to that extension unfavorable and it might lead to the failure or dilution of the brand. According to Martinez and de Chernatony (2004) brand image has two types: the general brand image and the product brand image. According to them there would be no negative impact on general brand image if the brand image is strong for example, Nike or Sony. Dilution effect would be more on product image instead of general brand image. Therefore, mostly the customers would stick to their beliefs about the parent brand with respect to its attributes and feeling. Nevertheless their study shows that â€Å"brand image can be diluted by brand extension, and beliefs and association with the parent brand can also be changed. In Pakistani environment companies especially MNCs prefer brand extension because they consider it more convenient. Top most cause for this is that products from multinationals already have an image of developed countries. Due to the past record of products from these developed countries, consumers give them positive response. Due to the image of product from these countries in the mind of the consumers, less cost is incurred by the companies on creating awareness and communicating about the product message with the target audience. These products already have good market share and media coverage; therefore it becomes easy to launch brand extension in Pakistan for such companies. 1.2 Statement of the Problem Since last couple of years, new product failure has been observed quite a few times. As a result companies now are relying on brand extension instead of launching new products. There are couples of other reasons instead of new brand failures, which companies consider for brand extension, such as low promotion and awareness cost, acceptance and less chances of being failed. Though these advantages are considered by companies to use brand extension as a part of their branding strategy, but apart of these advantages there couple of failed extensions have also been observed in last couple of years. Researchers are now focusing to identify the factors which are useful in evaluating brand extension and factors which play a role in either failure or success of brand extension. In this Thesis we will also try to find about the favorability or unfavorability of brand extension. Most of the researches which were conducted to know about the favorability or unfavorability of brand extension were focused on consumers point of view about brand extension. But as a matter fact it is quite difficult for consumers to evaluate whether brand extension is favorable or unfavorable. They can not evaluate it in undifferentiated fashion (Aaker and Keller, 1990, Keller and Aaker, 1992; Dacin and Smith, 1994; Smith and Andres, 1995). Brand extension according to consumers point of view was taken into consideration many a times, but very low attention was given to the managers point of view about brand extension (Nijssen and Agustin, 1999).Managers point of view regarding brand extension can give an extensive knowledge about brand extension because of their deep analysis about consumers and competitors and their personal experiences about the market and the brands. Hence in this thesis we will focus on managers perspective about brand extension along with consumers point of v iew. Both local and multi nationals are into brand extension from a long time. Such as Nestle , Pakola (Pakola, bubble up, Applesidra, double cola, Pakola milk), Sunsilk (Sunsilk black, Sunsilk white, Sunsilk pink, Sunsilk yoghurt, Sunsilk egg), Haleeb food Pvt Ltd (Milk, Juices, Cream, yoghurt), National Food (Pickle, salt, spices), Shan Food(spices, pickle, food), Unilever Pakistan (Lifebuoy, Soaps, Shampoo, Ice creams, Washing powder), PG (Soaps, Shampoo, Ice creams, Washing powder) Pakistan By keeping above relation in mind, it will be beneficial to have brand managers point of view about the success or failure of brand extension. 1.3 Significance of the Study The significance of this thesis is to explore the use of brand extension strategies in the Pakistan context. Whether the strategy of brand extension is favorable or not, or due to brand extension, brands gets diluted or cannibalized? Since brand extensions is one of the most popular strategies for leveraging brand equity, this study will also focus on brand extension effect on brand equity. This thesis will focus on brand extension strategies of products from various companies which include Haleeb Foods Ltd Pakistan, Nestle, Pakola and Head Shoulders. Various companies insights regarding brand extension will help us to study favorability or unfavorability of brand extension in a well manner. We will try to achieve this purpose by answering the following research questions. RQ1. What are the reasons to choose brand extension as a part branding strategy? RQ2. Is brand extension favorable or Unfavorable? Above mentioned two research questions were divided further into a set of questions. Purpose was to gain a deep insight to answer these two research questions. By answering above question, we will come to know whether brand extension is favorable or it leads to brand dilution, and whether brand extension is favorable for those companies who prefer extension and are involved in brand extension from couple of decades. We will also come to know that for what reasons companies in Pakistan are using brand extension, and whether brand extension is in accordance with the successful brand extension concept or not. This thesis will be beneficial in indentifying the success rate or failure rate of brand extension of those companies which have been chosen for this thesis. 1.4 Scope and Delimitation This thesis focused on brand managers of those companies which are operating here in Pakistan. Only four products have been chosen for which research is conducted to identify whether brand extension is favorable or unfavorable. So the product range is limited to four companies only. Another limitation faced during the course of this study was that brand extension strategy for most of the multi national companies are crafted in their home country and then implemented here in Pakistan. Furthermore, Interview process is chosen to know about brand managers point of view about failure or success of brand extension. Out of 4 brand managers, 2 interviews were taken on telephone and 2 were taken face to face. Due to the limitation of telephonic interview, non verbal responses could not be gauged. Other limitation confronted during the course of research was the fact that majority of multinationals (MNEs) formulate brand extension strategies at their head quarters abroad. Lastly, we came to k now that in Pakistan brand extension responsibilities is handled by marketing managers instead of brand managers in some companies. 1.5 Definitions 1.5.1 Brand According to (American Marketing Association 2007 brand is: A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition†. 1.5.2 Brand extension According to (Aaker 1991) brand extension can be defined as utilizing an already established brand to enter from one class of product category to another class of product category. (Kotler 1991) defined brand extension strategy as exploiting a well known and successful brand name either to launch a new or modified product can be termed as brand extension process. As per (Kotler Armstrong 1990) defined brand extension strategy as an expansion strategy, where companies try to further extend their already established and well known brands into either different other categories or in same category with some modification. 1.5.3 Product Line Extension (Kotler Armstrong 1990) defined product line extension as a process of using already established brand name to introduce new items with some extra innovation or modification in the same category. For example Pakola has extended its soft drink named â€Å"Pakola† into Pakola raspberry, Pakola leeche, Pakola orange, Pakola lemon. (Aaker 1991) elaborates product line as line extension occurs in the form of introducing new items under the same brand name in the same category with some modification in flavors, colors, specification, ingredients and package sizes. Product line extension is somehow differs with brand extension because brand extension is about using an established brand name to introduce new product and brand in different categories, while line extension leveraging and established brand to introduce new products in same category with some improvements, modification and enhancements. 1.5.4 Brand Dilution According to (Aaker 1991) brand dilution is depraving of a brand via its overexploitation. This failure of brand occurs when extension is done in a poor manner, or when a brand with poor equity is leveraged to extend it into different other categories. This failure can also occur when an extension becomes unfavorable in the mind of consumers. As per (Kotler Armstrong 1990), unfavorability of a brand in the mind of the consumers can be due to lack of quality, over pricing, lack of consistency with the parent brand, lack of innovative feature and lack of trust. Brand dilution can be a disaster for a company. Companies use their well known established brands to leverage their equity and image to further extend it for entering into different market segments, which gives them a chance to earn higher profits. This can be true when parent brand equity is strong. But if equity of any brand is weak, then consequences might include dilution or failure of a brand. 1.5.5 Brand Cannibalization (Kotler 1991) defined brand cannibalization as reduction in sales revenue and diminishing of share of market resulted as the introduction of new products in the same category For example, when diet coke was introduced by Coca Cola, sales for original coke diminished, but eventually it led in expansion of diet soft drink market. In case of Haleeb food, introduction of tea whitener diminished the sales of UHT milk, because consumers previously were using milk for making tea, but with the introduction of tea whitener, some consumers started to prefer tea whitener instead of milk, which resulted in cannibalization of milk category. 1.5.6 Brand Equity According to (Wood 2000) brand equity can be defined as a profitable relationship between a brand and its consumers. (Kotler and Armstrong 1996) reported that it is quite difficult to measure equity of a brand. Yet a strong brand results in strong brand equity which can be leverage to extend into different other categories. Conversely weaker brand means weak brand equity which can result in failure if extended into different other brands. Strong brand equity may lead to achieve brand loyalty, quality, brand association and awareness. These benefits help companies to incur less cost on communication and awareness. 1.5.7 Brand Association (Kotler and Armstrong 1996) defined brand association as refers to a degree where consumers discern a brand in rich fashion. Positivity of any brand depends upon how deeply that brand is penetrated in the mind of the consumers in positive fashion. Brand associations are the properties of a brand which consumers recall whenever brand is talked about. Consumer relates a brand name with its implicit or explicit meanings. Brand association can also be termed as the level to which a specific product/service is acknowledged amongst its product or service family. When choosing a brand name, it is important that the name selected must reinforce an essential dimensions and specification or benefit association that forms the position of a product. 2- RESEARCH METHODOLOGY PROCEDURE In this chapter we will discuss and justify methodological choices which we have made for our research. Below mentioned figure presents an overview of the research method which will be used in this chapter for our research. Source: Adapted from Foster (1998), p.81 2.1 Research Purpose (Yin 1994) and (Wiedersheim-Paul and Eriksson 1998) found in a research that there are basically three types of research: Explanatory Exploratory Descriptive According to (Wiedersheim-Paul Eriksson, 1998) basis purpose of the explanatory research is to craft and specify the issues of the research. This type of research is beneficial when the problem is quite difficult to analyze. According to Patel and Tebelius (1987) explanatory research is used when researcher want to gain more and more information about any specific issue. Moreover, Reynolds (1971) said through explanatory research, researcher can get comprehensive information about research defined problem. (Saunders, Lewis Thornhill, 2000) found that descriptive research is useful when the problem of research is properly defined and crafted in a well manner. For this purpose, researcher must have complete information about the problem defined in the research. Collection of data must be started after having a clear understanding about the problem defined form research. Furthermore, (Wiedersheim-Paul Eriksonn 1998) described that the main objective of descriptive research is to iden tify the applicable facets of the problem of the research. For conducting descriptive research researcher has to deeply define these facets, and there must be a relation between and describe these aspects more thoroughly without researching connections between reasons and indications. For our research we will initially try to define the reasons behind brand extension. Why do companies in Pakistan prefer engaging in brand and line extension activities? Furthermore, we will also try to identify the favorability and un-favorability of brand extension in Pakistani markets and companys perspective. For gaining deep understanding about the research question defined previously, we have considered exploratory research as a part of our research. The reason is that before this research no study has been taken into consideration to know about brand extension activities in Pakistan and we want to gain as much information as we can. Along with exploratory our research is explanatory as well. We will try to explain the result which we will get through our research. On the basis of our respondents responses we will try to draw a conclusion. 2.2 Research Approach To gain a deep information about brand extension strategies in Pakistan and whether it is beneficial or not beneficial for Pakistani market we have to consider two approaches, First one Qualitative and second one is Quantitative research. (Ponteerotto, 2006) found that quantitative research approach is used when we have to gain lean descriptions and we use qualitative research when we have to gain comprehensive descriptions. In our previous chapter, we explained our research question which includes the reasons behind brand extension in Pakistan and advantages and disadvantages of brand extension in Pakistani markets perspective. We will also try to know about the factors leading to the success and failure of brand extension. (Ponterotto 2006) found that to conduct qualitative research, most beneficial instrument can be in-depth interviews because in-depth interviews researcher can define the different facets of human experiences which results in having a deep understanding about the research topic. (Holme and Solvang 1991) compared quantitative research as a conventional and integrated research approach. In quantitative research approach final results can be presented in the forms of facts and these results are also measureable. One of the main purposes of quantitative research approach is make the consequences of the research of few variables to higher numbers of entities. According to (ibid 2000) qualitative research approach uses qualitative data to draw a conclusion. It draws conclusion on the basis of factors like peoples attitude, perception, values, likes and dislikes. By using qualitative research approach, results can be drawn by gather information through specific number of entities. This process can provide us the opportunity to gain a deep understanding of the research. By keeping the above mentioned description in our consideration, our research focus would be qualitative. One reason for choosing qualitative research approach as our research approach is that we want to gain as much information regarding our topic as much we can. This research approach would give us deeper information regarding brand and line extension activities in Pakistani perspective. For conducting our research for brand and line extension activities in Pakistan and its favorability or un-favorability, initially we approached many companies, out of which four companies agreed to provide us information regarding our research topic. Before conducting our interviews with our respondents, we sent a questionnaire to our respondents.. These interviews were not recorded and average time for an interview was approximately thirty to fifty minutes. Finally, to clear some doubts regarding the first three telephone interviews the companies were re-contacted to clear the doubts in some ques tions. 2.3 Respondents of the study Following companies were chosen to gain an insight about brand extension favorability or un-favorability from brand managers perspective. Initially, we approached many seasoned companies, out of which four companies brand manager agreed to give us time for interviews. Haleeb Foods Limited Pakistan Pakola Nestle Head Shoulders (PG) 2.3.1 Haleeb Foods Ltd Pakistan Haleeb Foods Limited is one of the biggest Dairy company of Pakistan which is operating in many different categories such as Juices, UHT milk, Tea whitener, and other dairy products. Haleeb foods came into existence in 1986 Haleeb foods initially started to produce Haleeb Milk. Later on Haleeb foods entered into different other segments of the market and different other categories. Since from its establishment, Haleeb food came up with many of brand and product line extension which Haleeb foods did successfully. Mr. Adil Suleman brand manager of Haleeb foods limited Pakistan was contacted via telephone to have this interview and to gain insight about brand extension of Haleeb in Pakistan. 2.3.2 Pakola Pakola is a beverage company which came into existence in 1950 by Haji Ali Muhammad. Initially Pakola focused on producing a soft drink which represented the drink of Pakistan. Later on as a part of brand and product line extension, Pakola introduced couple of other products which includes flavored soft drink and milk range, mineral water and juices. Mr. Mubeen Munnawar Marketing Manager of Pakola was contacted to have an interview to gain information regarding brand extension activities of Pakola in Pakistan. It was a face to face interview, and during the course of this interview, we gained deep insight about brand extension activities, favorability and unfavorability of Pakola brand extension. 2.3.3 Nestle Nestle was founded in 1866 by Henry Nestle and today Nestle if one the worlds largest beverage and food company. Nestle since from last couple of decades is into brand extension and product line extension. As a result of brand and product line extension Nestle has introduced couple of successful brands. Nestle has integrated innovation and renovation techniques in its principles. Nestle extend its brands through innovation and renovation. Mr. Adnan Tariq, brand manager of Nestle was contacted via telephone to get an insight about Nestle brand extension activities in Pakistan. During this interview Mr. Adnan Tariq gave us some valuable information regarding brand extension activities of Nestle in Pakistan and favorability and unfavorability of Nestle brand extension in Pakistan. 2.3.4 Head Shoulders Head Shoulders is an anti dandruff shampoo range introduced by PG. After a thorough research a new anti dandruff formula was developed which they used in developing Head Shoulders and it was first introduced in 1950. Head Shoulders have got a ranges of shampoo which includes classic clean, citrus breeze, refresh, extra volume, dry scalp care. Mr. Shaif Shafiq, who is associated with PG from a long time, was contacted to gain valuable information about brand extension strategy of Head Shoulders in Pakistan. Information the success or failure of Head Shoulders was also gained. During the course of this interview questions related our topic were asked and responses were noted down for future consideration. 2.4 Research Instrument 2.4.1 Interviews As per (Breakwell 1995) interviews as a research instrument can be useful because it is considered as a very flexible tools and due to its numerosity of phase in the research work. According to (ibid 2000) it is easy to use interviews as a part of research instrument because of its multi faceted nature of the research design. Observations and questionnaire can be used as a part of interviews to collect data for our research approach. Using interviews as a part of our research, we first took our research framework into our consideration. By keeping our research framework in our mind we developed a questionnaire which consisted of series of questions regarding reasons for brand extension and its favorability or unfavorability. Some irrelevant questions were late on excluded from our questionnaire before conducting our interviews. 2.5 Sources of Data (Wiedersheim-Paul and Erikson 1997) purposed two types of data collection method. First one is Primary data and second one Secondary data collection. Primary data is the first hand information which is collected for some specific purpose while second hand data is already published data which was collected for some other purpose or some other research. Moreover, (ibid 2000) shed some light on data collection methods as, there can be three different types of data collection method. First one is observation, second one is interviews and the last one is documentation. As per (Yin 1994) interviews can be one of the most reliable source for collecting data. Using interviews as a data collection method, interviewee and interviewer both can focus on the topic. Furthermore, (ibid, 2000) elaborated that interviews can be useful when it comes to gain insights of the interviewee about any specific topic. 2.5.1 Primary Data In previous section we focused more on that secondary data collection method for research can not be ample to identify more accurate and reliable information about any specific topic of research. When it comes to identify about the reason behind brand and product line extension and its favorability or unfavorability, it is important to determine what companies and their brand managers think about brand extension and product line extension. For this purpose use of primary data collection can be beneficial. Thus interviews are selected as an instrument for primary data collection method. These interviews include face to face and telephonic interviews. According to (Churchill, Gilbert A., Iacobucci and JR. Dawn, 2005), â€Å"proper communication can be a reliable and beneficial instrument for data collection. The reason is that in communication method no one forces researchers to wait for a certain event to be occurred†. (p. 167). Nevertheless, communication techniques have some drawbacks. In communication techniques it is not confirmed whether the answer to the research question will be obtained in an accurate manner. Using communication has some weaknesses. One of a reason for this is that responses are dependent on interviewees will to pass on the expected information. 2.5.2 Secondary Data For our research regarding brand extension and product line extension in Pakistani perspective, we also focused on collecting some secondary data. As per (Churchill, Gilbert A., Iacobucci and JR. Dawn, 2005) â€Å"for conducting any research, we must begin with searching for secondary information†. (p, 167). Using secondary data collection for gaining information can be beneficial in terms of having an initial idea about what have already been researched about the topic. Some useful information about research topic, already published information can also be gained in a timely fashion. Apart from advantages of secondary data collection method, there are some drawbacks associated with secondary data collection method. Secondary data can not be sufficient to give complete information regarding specific question of research. Furthermore, already published information was collected for some other purpose which not necessarily answers the question which you have included in your the sis. Indeed, according to them first of all, the data had been â€Å"collected for someone elses p