Ict and Banking Industry

A PROJECT REPORT ON THE EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON THE EFFECIENCY OF BANKING INDUSTRY (IN UDAIPUR CITY) IN THE PARTIAL FULLFILLMENT OF THE REQUIREMENT FOR MASTER OF BUSINESS ADMINISTRATION (MBA) 2007-2009 PACIFIC INSTITUTE OF MANAGEMENT, UDAIPUR Post Box No. 12, Pratap Nagar Extension, Airport road Udaipur-313003 Ph: 0294-2491340 E mail: [email  protected] om,[email  protected] com Submitted by: Submitted to: Chanda Joshi Mr. Dhiraj Jain MBA Part-2 Asstt. Professor, PIM ACKNOWLEDGEMENT Industrialists in professional life are likely and keenly aware of their sense of indebtness to many people who have stimulated & influenced their intellectual development in ordinarily.The feeling is formally expressed in customary gestures of acknowledgement therefore it seems only right to acknowledgement my gratitude with sense of veneration to the almighty & various people helped me to work in systematic & smoother manner. I would like to express my profound thanks to all the respondents who were co-operative enough and spared their valuable time in filling up the questionnaire. Words are not in lexicon to express my sincere sense of gratitude for my mentor, elite guide and path Mr. Dhiraj Jain and, Prof. B.P SHARMA (Director, pacific institute of Management) whose valuable guidance instigating encouragement creative thoughts & constructive criticism had helped me to accomplish this research work successfully. CHANDA JOSHI PREFACE The explosive growth of information and communication technology (ICT) is swiftly changing the banking industry and stern competition between the increasing numbers of banks has resulted in high investment on ICT. This report discusses the effect of ICT on banking industry (service) in Udaipur city with reference to public and private banks.Two Questionnaires were used to collect data from diverse customers and bank employees separately; the customers and bank employees accept as true that ICT has an effect on bankin g industry in India. The results of study undoubtedly show the massive impact of ICT on the performance of the banking industry in India. INDEX PARTICULARS DESCRIPTION 1. ACKNOWLEDGEMENT 2. PREFACE 3. EXECUTIVE SUMMARY 4. INTRODUCTION 5. INDUSTRY PROFILE 6. RESEARCH METHODOLOGY 7. DATA INTERPRETATION 8. FINDINGS,CONCLUSIONS . RECOMMENDATIONS 10. QUESTIONNAIRE 11. BIBLIOGRAPHY EXECUTIVE SUMMARY Advances in the banking sector have ushered in an era of multi – product and multi – service being delivered using multiple yet integrated channels. The use of information and communication technology (ICT) is on the increase and encompasses nearly the entire gamut of banking operations. Rising competition and customer expectations have compelled top management implement, and continuously upgrade, agile scalable ICT practices and solutions.The enormity and range of banking services combined with the complexity of integrated and ICT – enabled delivery mechanisms require com prehensive partnerships to be forged between banks and providers of ICT solutions. ICT has a crucial role to play in the financial sector in at least three main areas: improving the range and efficiency of banking services available to customers, lowering costs increasing the efficiency of capital markets, and allowing for more effective regulations of all types of financial markets and related transactions.The use of ICT enables a better delivery of banking services to both depositors and borrowers within a country and between countries. ICT has a central role in the operation of various capital markets such as stock markets, bond markets and foreign exchange markets, and it is intensively used by market organizers, market professionals and investors in this markets. ICT is also an essential tool for supervisory or regulatory bodies of these markets at both national and international levels.This research presents the preliminary findings of a research study to identify the effect o f implementation of ICT on the efficiency of banks in Udaipur. The methodology includes the collection of data by the questionnaire survey. Two types of questionnaires are to be prepared for the data collection- One questionnaire has been distributed among the customers to know the efficiency of the banking services by using ICT. The second questionnaire is to be filled by the officials of the banks, which will provide information about the need, & importance of the ICT for the efficiency of the bank.Chapter 1 INDUSTRY PROFILE INDUSTRY PROFILE What is banking? Bank may be defined as a financial institution which is engaged in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. A set of services intended for private customers and characterized by a higher quality than the services offered to retail customers. Based on the notion of tailor-made services, it aims to offer advice on investment, inheritance plans and provid e active support for general transactions and the resolution of asset-related problems.The essential function of a bank is to provide services related to the storing of deposits and the extending of credit. Basic function may include Credit collection, Issuer of banking notes, Depositor of money and lending loans. Now a days banking is  not in its  traditional way, with the advancement of technology its focusing  on more  comfort of customer  providing services such as: †¢Online Banking †¢ Investment Banking †¢ Electronic Banking †¢ Internet Banking †¢ PC Banking /Mobile Banking †¢ E-Banking The importance of banking sector is immense in the progress and prosperity of any State or country.INDIAN BANKING INDUSTRY The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the â€Å"India Vision 2020† prepared by the Plann ing Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely to decelerate. The total assets of all scheduled commercial banks by end-March 2010 are estimated at Rs 40, 90,000 crores. That will comprise about 65 per cent of GDP at current market prices as compared to 67 per cent in 2002-03.Bank assets are expected to grow at an annual composite rate of 13. 4 per cent during the rest of the decade as against the growth rate of 16. 7 per cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital base and reserves on the liability side. Banks in India can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969.This crucial s tep led to a shift from Class banking to Mass banking. Since then the growth of the banking industry in India has been a continuous process. The Public Sector Banks (PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs.As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry. Indus land Bank was the first private bank to be set up in India. In the Indian Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd,Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some private sector banks. Banks from the P ublic Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank , Andhra Bank etc.ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are some of the foreign banks operating in the Indian Banking Industry . CHAPTER-2 INTRODUCTION ————————————————- Meaning of ICT The term â€Å"ICT† describes the use of computer – based technology and the internet to make information and communication service available to a wide rang of users. The term is used broadly to address a range of technologies, including telephones. Central to these is the Internet, which provides the mechanism for transporting data in a number of formats including text, images, sound, and video.Additionally, ICT deals with the application layer, the systems that enable information to be collected and distributed, analyzed, and processed. However, whi le ICT is generally adaptable to different information. Needs and circumstances, its effectiveness in solving development issues still depends on the content it carries. ————————————————- The New Era The 21st century will bring about an all – embracing convergence of computing, communication, information and knowledge. This will radically change the way we live work and think.The growth of high – speed networks, coupled with the falling cost of computing power, is making possible application under dream of in the past. Voice, data, images, and video may now be transferred around the world in microseconds. This explosion of technology is changing the banking industry from paper and branch banks to’ digitized and networked banking services. It has already changed the internal accounting and management systems of banks. It is now fundamentally changing th e delivery systems banks use to interact with their customers.All over the world, banks are still struggling to find a technological solution to meet the challenges of a rapidly changing environment. It is clear that this new technology is changing the banking industry forever. Banks with the ability to invest and integrate information technology will become dominate in the highly competitive global market. Bankers are convinced that investing in IT is critical. Its potential and consequences on the banking industry future is enormous. ————————————————- Technology and Banks Transformation ————————————————-Computers are getting more sophisticated. They have given banks a potential they could only dream about and have given bank customers high expectations. The cha nges that new technologies have brought to banking are enormous in their impact on officers, employees, and customers of banks. Advances in technology are allowing for delivery of banking products and services more conveniently and effectively then ever before- thus creating new based of competition. Rapid access to critical information and the ability to act quickly and effectively will distinguish the successful banks of the future.The bank gains a vital competitive advantage by having a direct marketing and accountable customer service environment and new, streamlined business processes. Consistent management decision support system provides the bank that competitive edge to forge ahead in the banking market place. ————————————————- ————————————————- Major app lication: – The advantage accruing from computerization are three-directional – to the customer, to the bank, and to the employee. ————————————————- ———————————————— For the customer ————————————————- ————————————————- Banks are aware of customer’s need for new services and plan to make them available. It has increased the level of competition and forced them to integrate the new technologies in order to satisfy there customers. They have already developed and implemented a certain number of solutions among them: —à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- * ————————————————-Self – inquiry Facility: ————————————————- Facility for logging into specified self – inquiry terminals at the branch to inquire and view the transaction in the account * ————————————————- Remote banking: ————————————————- Remote terminals at the customer site connected to the respective branch through a modem, enabling the customer to make inquires regarding his accounts, on-line, without ha ving to move from is office. * ————————————————-Anytime banking- Anywhere banking : ————————————————- Installation of ATMs which offer non-stop cash withdrawal, remittances inquiry facilities. Networking of computerized branches inter-city and intra-city, will permit customers of these branches, when interconnected, to transact from any of these branches. * ————————————————- Telebanking: ————————————————- 24- Hour service through which enquiries regarding balances and transactions in the account can be made over the phone. ——â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Electronic banking : ————————————————- This enables the bank to provide corporate or high value customers with graphical user interface (GUI) software on a PC, to inquire about their. Financial transaction and accounts, cash transfers, chequebook issue and inquiry on rates without visiting the bank: Moreover, the customer can send LC text and details on bills, and the bank can download the same. The technology used to provide this service is called electronic data interchange (EDI).It used to transmit business transaction in computer – readable from between organization and individuals in a standard format. * ————————————————- As information is cen tralized and updates are available simultaneously at all places, single – window service become possible, leaving to effective reduction in waiting time. For the bank:- During the last decade, banks applied IT to a wide range of back and front office tasks in addition to a great number of new products. The major advantages for the bank to implement IT are: Availability of a wide range of inquiry facilities, assisting the bank in business development and follow – up. * Immediate replies to customers queries without reference to ledger-keeper as terminals are provide to mangers and chief mangers * Generation of various MIS reports & periodical returns on due dates.. * Automatic and prompt carrying out of standing instructions on due date and generation of reports. * Fast and up-to-date information transfer enabling speedier decisions by interconnecting computerized branches and controlling offices.For the employees – IT has increased this productivity through the followings: * Accurate computing of cumbersome and time – consuming jobs such as balancing and interest calculation on due dates. * Automatic printing of covering schedules, deposit receipts, passbook / pass sheet, freeing the staff from performing these time – consuming jobs, and enabling them to give more attention to the needs of customers. * Signature retrieval facility, assisting in verification of transactions, seating at their on terminal. * Avoidance of duplication of entries due to existence of single – point data entry.A search of the banking literature reveals that banks are moving rapidly to take advantage of recent and new customer service and cost reduction opportunities that new technologies offer. IMPORTANCE OF INFORMATION & COMMUNICATION TECHNOLOGY The internet is rapidly becoming the information superhighway of a global electronic marketplace. The rising commercial interests in the internet are especially evident in â€Å"front-end† appl ication such as electronic catalogs, yellow pages, storefronts, malls, and customer support centers.All this application are based on the world wide Web (WWW) – the fastest growing segment of the Internet. Although â€Å"back-end† applications such as electronic data interchange (EDI) are equally important, their adoption has not been as rapid. One major concern is security:: the Internet is generally perceived as not secure enough for transmitting sensitive data such as payments. Upon a closer look, however, this view is not warranted, since technologies such as public key encryption and firewalls address essential security concerns.Moreover, such technologies are already available. The only remaining barrier is the lack of real world users of those technologies. Investing in technology According to a survey conducted by the American Bankers Association, US banks expenditure on information technology grew from $ 16. 3 billion in 1994 to $ 18. 7 billion in 1995  œ an increase of 14. 7%, and $ 1 billion more than the same bankers forecasted they would spend in last year’s survey. By 1998, the banks expect to spend $ 21. 2 billion (an increase of 7. 1%) The New Delivery Systems.The increasing cost of building brick-and-mortar branches, decreasing cost of computers, high delivery costs and slow revenue growth force a relook at the conventional delivery systems. Moreover, growing comfort of technology usage by the customer is rapidly fostering usage of non – branch channels for routine transactions. The new strategy changes the focus of the branch from being a high cost transaction center to a provider of a wide range of services like telebanking, customer service kiosks, ATM’s, and remote electronic banking.New Marketing Opportunities As the new technology is so expensive banks need to use the new systems to do more than deliver information and basic services. Banks need the ability to also sell insurance and investment pr oducts to get a better return on this investment. Telephone banking can bring financial services to the home or office, especially if they are affordable screen phones. By noticing how much interest the customer expresses, the bank can market stock quotes and insurance quotes.Interactive videos are new technology that banks can make available to the customers to maintain personal contact while still lowering the expenses of delivery service. With an interactive video an expert employee is not needed in each branch. Complex life insurance products, open brokerage accounts, customized product illustrations can be widely available where needed. The interactive videos will be cost effective expertise. The internet is a medium to allow banks to offer products to customers outside the normal customer base of a branch.Banks are aware of the customer’s need for these services and plan to make them available before other sources do. THE EFFECT OF ICT ON BANKS Banks is an unusual firm because it does not produce any object or tangible product, like a farmer producing rice or Cement Companies producing bags of cement. On any business day, a bank receives information, stores information, processed information, and distributes information. A saving deposit is recorded, an entry is made in someone’s account, at the right time interest is added, and the customer is periodically provided with a ummary statement. A loan application is received, a file is started, the application is assessed by a loan officer, and the client is either rejected or provided with a credit. Each of these functions can be handled by hand with ledger and pens or, today, they can be handled entirely by data entry, computers, and information systems. What ICT does for a bank is to make a dramatic reduction in the costs of handling information and in the transaction costs to the bank and customer of handling a deposit or loan.Clearly, this reduction benefits both the bank and its customers . The impact of high transaction costs is even more acute in rural areas and gravely Inhibits access even to basic financial services. Out on-going field work shows that a formal lending rate for a farm loan of, say, 15 percent is not sufficient to switch business away from informal lenders who charge a rate of 40 percent or higher. ICT not only increase the efficiency of bank operations but permits banks to offer a wider array of services such as ATMs, telephonic banking, and computer banking.ICT facilities the deeper penetration of credit card services, thereby expediting business transaction. Behind the scenes an ICT system would permit banks to speed up inter bank check clearing and engage in electronic funds transfer such as direct debiting or salary deposits. A credit bureau would enable banks to obtain accurate and immediate information about a customer’s credit history and rating, thus lowering risks, costs, and interest rates. What is perhaps less well – known , is that ICT dose not merely lower information and transactions costs and improve bank efficiency and services.With the development or proper accounting and reporting standards, an ICT system also improves the ability of bank and capital market regulators to track the information they need to regulate financial markets . ICT can help takes and customs authorities to expedite revenue collections and if properly handled it can greatly reduce the potential for unwarranted side payments. Role of information technology in banking industry I. T. in Banking: 1). Technology has opened up new markets, new products, new services and efficient delivery channels for the banking industry.Online electronics banking, mobile banking and internet banking are just a few examples. 2). Information Technology has also provided banking industry with the wherewithal to deal with the challenges the new economy poses. Information technology has been the cornerstone of recent financial sector reforms aimed at increasing the speed and reliability of financial operations and of initiatives to strengthen the banking sector. 3). The IT revolution has set the stage for unprecedented increase in financial activity across the globe.The progress of technology and the development of world wide networks have significantly reduced the cost of global funds transfer. 4). It is information technology which enables banks in meeting such high expectations of the customers who are more demanding and are also more techno-savvy compared to their counterparts of the yester years. They demand instant, anytime and anywhere banking facilities. 5). IT has been providing solutions to banks to take care of their accounting and back office requirements. This has, however, now given way to large scale usage in services aimed at the customer of the banks.IT also facilitates the introduction of new delivery channels–in the form of Automated Teller Machines, Net Banking, Mobile Banking and the like. Further, IT deployment has assumed such high levels that it is no longer possible for banks to manage their IT implementations on a stand alone basis with IT revolution, banks are increasingly interconnecting their computer systems not only across branches in a city but also to other geographic locations with high-speed network infrastructure, and setting up local area and wide area networks and connecting them to the Internet.As a result, information systems and networks are now exposed to a growing number. Technology Products: (1). Net Banking (2). Credit Card Online (3). One View (4). InstaAlerts (5). Mobile Banking (6). NetSafe (7). e-Monies Electronic Fund Transfer (8). Online Payment of Excise & Service Tax (9). Phone Banking (10). Bill Payment (11). Shopping (12). Ticket Booking (13). Railway Ticket Booking through SMS (14). Prepaid Mobile Recharge (15). Smart Money Order (16). Card to Card Funds Transfer (17). Funds Transfer (ECheques) (18). Anywhere Banking (19). Internet Banking ( 20). Mobile Banking (21). [email  protected] (i) Express Delivery 22). Cash on Tap: (ii) Normal Delivery Chapter 3 RESEARCH METHODOLOGY RESEARCH METHODOLOGY Research in common parlance refers to the search for knowledge. It can also be define as scientific and systematic search for pertinent information on specific topic. In fact, research is an art of scientific investigation research is a voyage of discovery . it is also said to be the pursuit of truth with the help of study , observation , comparison and experiment. The rule of research in several fields of applied economics weather related to business or to economy as a whole, has greatly influenced in modern times.The increasing complex nature of business and government has focused on the use of research in solving problem. According to Kiplinger â€Å"research is a systematic, controlled, empirical and critical investigation of hypothetical propositions about the presumed relation among natural phenomenon. Characteristic of Research : ? Research is a systematic and critical investigation into a Phenomenon ? Research is not a mere compilation, but a purposive investigation. ? It aims at describing, interpreting and explaining a phenomenon. ? It adopts scientific method. ? It is objective and logical. It is based upon the observable experience and empirical evidence. ? It is directed towards finding answers to pertinent question and Solution. Stage in Research Process : ? formulating the research problem ? Choice of research design ? Determining sources of data ? Designing data collection forms ? Determining sampling design and sampling size ? Organizing and conducting the field survey ? Processing and analyzing the collected data ? Preparing the research report RESEARCH OBJECTIVES : Objectives of the proposed study are as under:- 1) To study the effectiveness of ICT in banks of Udaipur city. (2) To study the effect of the ICT on service delivery of banks. RESEARCH DESIGN :- A Research Design specifies the methods and procedures for conducting a particular study. The researcher should specify the approach he intends to use with respect to the proposed study. Broadly speaking Research Designs can be groped in to 3 categories: 1. Exploratory research 2. Descriptive research 3. Casual Research For achieving the research objectives which are already stated clearly, The Descriptive Research method was adopted. SAMPLE SIZE :-It describes how many employees and customers of the bank should be surveyed 25 employees and 25 customers of private as well public banks were surveyed. SAMPLING TECHNIQUE:- Respondents were selected on the basis of convenience sampling in the certain private As well as public banks of Udaipur city SAMPLE UNIT :- For the study two types of samples are to be selected – (a) Customers of the banks (b) Bank Employees TOOLS OF DATA COLLECTION :- The following tools were used for the data collection: 1. Structured questionnaire: By asking the structured questions to the employees and customers by interviewing. . Review of written document: some part of this study was collected from the journals and books. CHAPTER-4 DATA INTERPRETATION Various banks in which these employees are working Various banks in which customers are having their accounts A. FOR THE CUSTOMERS Q. 1 TYPES OF ACCOUNTS? Interpretation: The above graph shows about the types of accounts of the customers in the bank. In it 76% have saving account ,12%of customers are having current & 12% 0f customers are having both type of account in the banks. Q. 2 Awareness of the changes due to ICT? Interpretation:The above graph shows the 98% of the customers are aware of the changes due to ICT, but very less ( 2% ) of customers were unaware of it. Q. 4 For last how many years is your bank using ICT? Interpretation: The76% customers respondents their bank using ICT for last 5 & above years and 24% of customer said that their bank is using ICT for the 0-5 years. Q. 5 is every department com puterized? Interpretation: 92% customers respond that every department is computerized in their bank but very few customers i. e. 8% said that every department is not computerized Q. Do you find any problem while using ICT? Interpretation: The above graph shows that 60% of customers find no difficulty while using ICT, 32% said it is very difficult to understand and 8%% find it difficult to operate. Q . 7 Do you find bank staff co-operating ? Interpretation: 97% of customers said that there bank staff is co-operating but 3% respond negatively. Q. 8 Do you think ICT has improved the service delivery of the bank? Interpretation: Above graph shows that the 82% of customers were strongly agreed and 18% were agreed that ICT has improved the service delivery of the bank. Q. Are you satisfied with the banking services providing you after using ICT? Interpretation: Above graph shows that the 82% of customers were strongly satisfied, 16% were agreed satisfied but only 2% were dissatisfied wit h the services providing to them after using ICT. Q. 10 Is any improvement required in this type of services? Interpretation: Above graph shows that the 84% of customers needed improvement in ICT, 16% said that no improvement is required. B. FOR BANK EMPLOYEES Q. 1 Awareness of the changes due to I. C. T. ? Interpretation: The above graph shows that awareness level of the respondents due to the hanges of I. C. T. 100% are aware with the changes due to the I. C. T. in the banks. Q. 2 Is your bank using I. C. T.? Interpretation: The all respondents said that their bank is using information and communication technology. Q. 3 For how long I. C. T. is used in this bank? Interpretation: The Above graph shows about the year of ICT using being used in banks . In it78% of the banks are using ICT from past 0-5 years. After that 22% of the banks are using I. C. T. from past 6-10 year. And no bank has experience to use the I. C. T . more than 11 years. Q. 4 Do you think that implementation of I . C.T. in banks is essential and effective in banks? Interpretation: The above graph shows that the implementation of I. C. T. in banks is very much essential and effective . 66% of employees are strongly agree with it & 34% of employees were agree. Q. 5 Has I. C. T. brought positive changes in your way of working? Interpretation: The above graph shows that the information and communication technology has brought very positive changes in the working way of doing job 68% respondents were strongly agree with it but the very least i. e. 2%of respondents were strongly disagree with the statement.Q. 6 Has I. C. T. brought the positive changes in this bank? Interpretation: 68% of employees accepted that I. C. T. has brought positive changes in their bank ,28% were agree with it but 4% of respondents were disagree with fact. Q. 7 Do you face any problem while using I. C. T.? Interpretation: 82% of the employees do not find any difficulty in using the new system. 10% of the employees find t he new system difficult to understand . 8% of the employees find difficulty in operating the new system. Q. 8 Has training been provided to the employees to use the new system tech. ?Interpretation: The above graph shows that 42% 0f employees were strongly agree that they got the training to use the new system technology, 36% were agree but 20% were disagree & 2% were strongly disagree about the getting of training for using the technology. Q. 9 Has I. C. T. improved the performance of the bank employees ? Interpretation: 66% of respondents were strongly agree that the I. C. T. has improved the performance in their bank, 30% were agree but the rest were disagree with this. Q. 10 Has I. C. T. lead to loss of jobs in banking sector? Interpretation:The above graph shows that 64%0f employees were strongly agree that I. C. T has lead to loss of jobs in banking sector,16% of employees were disagree with the statement. Q. 11 Has I. C. T. affected efficiency in banking services? Interpretat ion: The above graph shows that 68% 0f employees were strongly agree that I. C. T. has affected the banking services,30% were also agree & 2% were disagree with it. CHAPTER- 5 FINDINGS, CONCLUSIONS & RECOMMENDATIONS Findings : 1. 66% of the customers respond that they are getting better services after using Information & communication technology. 2.It was found that 98% of customers & 100% of employees a were of the Changes due to new system technology. 3. It was found that 82% of customers strongly agreed that ICT has improved the Service delivery of the bank. 4. 98% of employees of employees accepted that the information & Communication technology has affected the banking service in positive Manner. 5. This was found that because of ICT has lead to the loss of jobs in banking sector. 6. During the study it was found that because of lower network connectivity Employees as well as customers were getting problem in service. . 100% of Employees as well as customers said that the imple mentation of I. C. T. is essential & effective in banks. Conclusion * Banks offering internet-based products and services should have reliable and secure methods to authenticate their customers. * The level of authentication used by the financial institution should be appropriate to the risk associated with those products and services. * Financial institution should conduct a risk assessment to identify the types and levels of risk associated with their internet banking application.Where risk assessments indicate that the use of single-factor authentication is inadequate, financial institutions should implement multifactor authentication, layered security, or other controls reasonably calculated to mitigate those risks, the agencies consider single-factor authentication, as the only control mechanism, to be inadequate in the case of high risk transaction involving access to customer information or the movement of funds to other parties. * Most of the customers are satisfied with the services provided by banks. The objective of the study was to find out the effect of information & communication Technology on the efficiency of banking sector in certain private as well as public banks, It was to find out how service delivery is effected after using the ICT in banks. * The study concludes that information & communication technology plays more significant role in the increasing of the banking efficiency in both, private as well as public sector banks. RECOMMENDATIONS:- ? Raise awareness and promote the concept of information &Communication technology among the customers as well as bank Employees. The method of authentication used in a specific internet application Should be appropriate and reasonable, from a business perspective, In light of the reasonably foreseeable risks in that application. ? Conduct training programme once in the month. ? Encourage the use of E-Commerce by providing the better & fast Services. ? An effective authentication method should have c ustomer acceptance, Reliable performance, scalability to accommodate growth, and Interoperability with existing systems and future plan . With the growth in electronic banking and commerce, financial Institutions should use reliable methods of originating new customer accounts online. ? Financial institutions should rely on multiple layers of controls to prevent fraud and safeguard customer’s information. ? Recognize the needs of employees while using the ICT. ? should provide the fast & regular ICT services so that employees can deliver the fast services & customers can gat the better services. ? The daily updating & awareness of new changes in ICT must be in Practice.LIMITATIONS ?The research conducted was limited to Udaipur City only. ?Findings of the study are based on the assumption that respondents have Divulged the correct information. ?The study is confined to selected groups of employees & customers in banks of Udaipur city. ? Few respondents were so much occupied wi th their work that they could not Spare time to fill the questionnaire. ?Due to unwillingness of providing any information, the respondents Filled the questionnaire casually which might have affected the conclusion.BIBLIOGRAPHY www. google. com www. rediff. com Kothari. C. R Research methodology; methods & techniques Questionnaire – 1 FOR BANK EMPLOYEES Contact Person________________________________________________ Age______ Gender_____ Designation_______ Phone No. _____________ Official Address_______________________________________________ _____________________________________________________________ Q. 1Are you a were of the changes due to information and communication Technology in banking system? Yes [ ] No [ ]Q. 2 Is your Bank using I. C. T.? Yes [ ] No [ ] Q. 3If yes, for how long I. C. T. is used in this bank? 0 – 5 [ ] 6 – 10 [ ] 11 and above [ ] Q. 4Do you think that implementation of ITC is essential and effective for Banking sector? A) Agree [ ] B) D isagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral Q. 5Has ICT Brought Positive changes in your working way of doing job?A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral [ ] Q. 6Do you think that ICT has brought Positive changes in this bank? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral [ ] Q. 7What problem do you face while using this new system technology? A) Difficult to operate [ ] B) Difficult to Understand [ ] C) Easy [ ] Q. 8Did you get training to use the new system technology?A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral [ ] Q. 9Do you think ICT has improved the performance of employees in this bank? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral [ ] Q10Do you think ICT has lead to loss of jobs in banking sector? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutra l [ ]Q. 11Has ICT affected the productivity / efficiency in Banking services? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] E) neutral [ ] Q. 12Is any improvement required? Yes [ ] No [ ] Questionnaire – 2 FOR CUSTOMERS Contact person_________________ Age ____________ Gender__________________ Educational Qualification: Under Graduate Graduate Post Graduate Other specify Q1. What type of Account do you operate?A) Saving [ ] B) Current [ ] C) other specify [ ] Q. 2For how long have you been using this bank? A) 0 – 5 [ ] B) 5 – 10 [ ] C) 10 – 15[ ] 15 and above Q. 3Are you aware of the changes due to information and communication Technology in banking system? A) Yes [ ] B) No [ ] Q. 4For last how many years your bank is using I. C. T.? A) 0 – 5 [ ] B) 5 and Above [ ] Q. 5Is every Department is computerized? A) Yes [ ] B) NO [ ] Q. Do you find any problem while using this new system technology? A) Difficult to operate [ ] B) Difficult to understand [ ] C) Easy [ ] Q. 7Do you find Bank staff co-operating? A) Yes [ ] B) NO [ ] SQ. 8Did you get any help services to use new system technology? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] D) Neutral [ ] Q. 9 Do you think ICT has improved the service delivery of the bank ?A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] D) Neutral [ ] Q. 10Are you satisfied with the Banking services providing you after using I. C. T.? A) Agree [ ] B) Disagree [ ] C) Strongly Agree [ ] D) Strongly disagree [ ] D) Neutral [ ] Q. 11Do you have account in both public sectors Bank as well as in private sector Bank? A) Yes [ ] B) No [ ] Q. 12if any improvement required? A) Yes [ ] B) No [ ]

Road Not Taken Robert Frost

Journeys illustrate the voyage between places of interest. They are demonstrated by expressing to the audience the hardship and mixed emotions you go through to the destination. Some examples of positive effects on those who embark on a mission are that it hinders them to get out of their comfort zone and helps them appreciate what they have, if a problem occurs while embarking on your voyage it will have to be resolved to make the mission you board on possible. The text analysed â€Å"The Road Not Taken† by Robert Frost and the type of text is poetry. My second choice of text was â€Å"The Wizard of Oz† by Victor Fleming the text type is a movie. Some possible techniques analysed are rhyme, imagery, symbolism, long shot, up shot and a full shot. In the title â€Å"The Road Not Taken† describes a journey that hasn’t been trekked upon; people chose the comfort of a common path to avoid obsticles of hardship and beyond the unknown. In the movie â€Å"The Wizard of Oz†, the hardship of deciding which road or path to take by choosing which pathway she will travel on the unknown. Embarking on the unknown; in the poem The Road Not Taken, the author uses rhyme to make it easier or clearer for the reader to contemplate. â€Å"Two roads diverged in a yellow wood, and be one traveller long I stood. † In â€Å"Two roads diverged† it was offering us a choice on which path to stride on, by illustrating â€Å"yellow wood† it characterizes the road as cautious. â€Å"And be one traveller long I stood† one traveller alone, no companion, own choice, uncertainty of which path to voyage on. Therefore the uncertainty is the obsticle of hardship of his journey. Furthermore in the movie, The Wizard of Oz we distinguish Dorothy and Toto embarking on their journey. In the long shot Dorothy and Toto illustrate the extensive road ahead of them. It also shows the solitude of Dorothy that she’s got nowhere left to go apart from running away. The baggage in her hand emphasizes that she’s taken everything she owned and not returning home. Low modality demonstrates the gloominess of the journey ahead. In relation to ‘The Road Not Taken’ and ‘The Wizard of Oz’ both texts, illustrate solitude, hardship, beyond the unknown and the uncertainty of choice. Embarking on the unknown; in the poem ‘The Road Not Taken’ the author uses imagery to illustrate the choice between the different paths. The unknown is there to explore. â€Å"Then took the other, as just as fair, and having perhaps the better claim, because it was grassy and wanted wear. † In ‘Then took the other just as fair’ illustrates to us that the author portrays the rare choice of which path he chose to take. ’And having perhaps the better claim’ the author is certain that he’s made the right choice. ‘Because it was grassy and wanted wear’ the imagery described as the grass has never been tread on or hasn’t been walked on; undisturbed. Therefore the text symbolizes the choice of journeys undertaken prior. Furthermore in the movie ‘The Wizard of Oz’ we observe Dorothy, Glinda and the wicked witch of the west. In the full shot we establish that Dorothy’s house has landed on top of the wicked witch of the east. The witch of the west approaches to save the ruby shoes but they are mysteriously positioned on Dorothy’s feet. The witch cautions Dorothy that there will be vengeance. In the full shot we observe Dorothy’s face that she’s petrified. The full shot demonstrates emotions on the characters face. In the background the munchkins are laying flat on the ground terrified from the witch after the witch’s journey flying. In relation to â€Å"The Road Not Taken† and â€Å"The Wizard of Oz† in both texts we establish the uncertainty of choice chosen and the different journey’s they embark upon. Embarking on the unknown; the author uses symbolism to illustrate the colour of his journey. â€Å"And that morning equally lay, in leaves no step had trodden black. † In ‘leaves o step had trodden black’ this portrays that no living being had ever walked upon this path before due to the fact that the black is symbolising gloominess and depression. Therefore, again the uncertainty of the unknown is the obsticle of the journey he’s embarking upon. Furthermore, in the movie â€Å"The Wizard of Oz† we establish the flying monkeys in the air with Dorothy in their arms. The upshot was used to illustrate to us the length and height they flew up from the ground to emphasize to the viewers that they should be fearful of them. The dull use of colours focuses on the darkness the witch and the monkeys originate from. The monkeys disrupt Dorothy’s journey which she was so close to getting to her destination. In relation to both texts we distinguish the interruption of the journey, the gloominess of the different types of journey you embark upon. In conclusion to these two texts we establish that journeying upon the unknown can position you in a situation you don’t want to be placed in. Also the hardship and the uncertainty of choice upon the voyage and the solitude of both characters in both texts are demonstrated throughout the mission. Furthermore we learn that different types of dangers and obsticles can interrupt the journey you are embarking upon.

Essay about smartphones Example | Topics and Well Written Essays - 250 words

About smartphones - Essay Example A Smartphone contains these features and many more. Such features include features helping users to organize their notes, calendars, create and establish networks, synchronize their data across networks, play and download media files, in a variety of application integrated in a Smartphone, which was only possible on a computer a few years back. The first generational phones only had the basic functions. In effect, the PC ruled the internet world. However, the advancement in technology has ensured integration of the internet technology to mobile technology. More so, the Smartphones are at par with computers in terms of internet speeds. In effect, an individual can receive and send mail via the Smartphone. Furthermore, a Smartphone will allow the editing, creation, and sending of documents in real time. Thus, an individual has a platform to run a mobile office. The downloaded applications, popularly called apps, ensure that individuals have a variety of tools that fitted their lifestyles. In addition, the world witnesses a recent phenomenon in the rise and use of the Social Medias sites such as Twitter, Facebook, Google+, YouTube, among others. In effect, sharing of information in real time has become a norm rather than the exception with most of the sharing taking place via Smartphones. In fact, the recent revolutions in the Arab world christened â€Å"The Arab Spring† were a success because of the role of these Social Media sites with information passed over the Smartphones. In conclusion, it is evident that Smartphones are a vital part of human life. Not only are these gadgets important for an individual’s unique lifestyle, Smartphones provides an individual with a mobile office outside his or her physical office. In effect, the gadgets enhance professionalism and efficiency at work. Indeed, the rapid growth in technology will continue to provide the world with amazing apps

Powerpoint on Universal Studios Hollywood Park (see other instructions Presentation

On Universal Studios Hollywood Park (see other instructions ) - PowerPoint Presentation Example The company went to receivership and Standard successfully obtained only to lose it two decades later to the MCA (Sehlinger, & Testa, 2011). The company has since diversified to the international platform. The entertainment company serves almost all ages in the global society through the production of the most appropriate films that each age may deserve. The movies sell globally across different cultures and political systems because of its approach to customization to ensure that ethics are not contravened whatsoever (Sandler, 2008). The Universal studios based in Orlando which own a water park establishes the best local example the company’s entertainment approaches. The company ensures that entertainment services are the key to drawing visitors to its services which include hospitality services (Sehlinger, & Testa, 2011). The company’s management ensures advertisement throughout different geographic and demographic segmentations with precise emphasis of the benefits accruable from visiting the studios or using its products (Wallace, & Adams Media Corporation, 2004). These approaches target both local and international clients (Plunkett, 2007). The American based and one of the oldest entertainment production companies has its headquarters at Hollywood. However, over the last half a century, the company diversified accordingly to different markets in the United States of America, central Europe, and south East Asia (Enz, 2010). These effects date from the initial owner ship of the Laemmle’s family, to the receivership by Standard to the current ownership. The US authorities implement stringent approaches to regulating ownership and decision making processes of the media industry. Therefore, Universal studios fall under the acts thus; only 20% of the shares may be sold to the foreign investors, although the authorities may withhold such measures if the increased foreign investments shall benefit the indigenous

Events Management Law Essay Example | Topics and Well Written Essays - 3000 words

Events Management Law - Essay Example ........................10 Reference.............................................,11 Executive Summary The Cliffhanger Festival is an annual event that includes games and other outdoor events. The primary organiser of the event, Heason Events has some legal obligations that must be attained for a successful event to be organised. The main legal requirements are health and safety matters and licensing. The legal requirement for health and safety is rooted in the concept of negligence and the duty of care for the organisation of public events like this festival. This duty of care is supported by common law and civil law in the UK as well as European Union Laws. It puts the organisers in a position where they need to identify their duty to the participants in terms of health and safety and also put in place measures to ensure that this is honoured. The licenses required are spelt out in the Licensing Act of 2003. The necessary licenses required by Heason Events include licences to use p remises, to sell alcohol, copyright permissions for music as well as trademark permission. It is recommended that Heason Events puts in place a good risk management team that will analyse the health and safety risks involved at each stage of the event. They should set up a first aid centre and insure those that cannot be handled. Participants should be given conspicuous notices on health and safety tips. The team should monitor risks regularly. Also, Heason must put in place practical steps to ensure that all partners and exhibitors have complied with all necessary licensing requirements. This should be monitored before and during the event to prevent abuses. Introduction This paper examines the legal matters relevant to the organisation of Cliffhanger 2011, the UK’s largest outdoor event that is expected to draw about 20,000 visitors to Sheffield this year (Cliffhanger Official Website). It is aimed at inspiring and encouraging people to exercise and indulge in outdoor event s that will promote socialisation and entertainment. There are several legal issues that the organisers of the event need to be aware of and make necessary action to ensure that they are controlled to ensure that the event goes on and ends without issues and problems to the organisers. Key amongst these issues is the issue of health and safety as well as licensing. This paper critically examines the legal basis of these two main issues. This is followed by an evaluation of how these issues affect the organisation of Cliffhanger 2011. The paper concludes with recommendations on how the organisers of Cliffhanger 2011 can control these issues and ensure that they do not mar the event. Event Context The Cliffhanger festival is a major outdoor event that aims at attracting people from all over the world to come and join in the fun of its outdoor games and exhibitions. Cliffhanger is an annual event that is rotated across the UK and this year, it is being held in Sheffield between July 2n d and 4th. The festival is organised by Heason Events, Sheffield City Council and Events Sheffield. Heason events is the primary event organiser. The partners include BKSA, British Military, International Federation of Sporting Councils (IFSC), Jury’s Inn, Millhouse Works, Real Radio and SYO. Sponsors include Decathlon, Climbin Works, Yorkshire Hotels and Hammer design. Music and camping services are rendered in partnership with Alpkit UK. The festival will be opened to members of the public and it primarily targets families. It will involve a series of outdoor events

Surrealism in American Film Essay Example | Topics and Well Written Essays - 3000 words

Surrealism in American Film - Essay Example The essay "Surrealism in American Film" discusses the American film and surrealism. Three American films are good examples of surrealism in the American Cinema. Eternal Sunshine of the Spotless Mind (2004) by Michel Gondry, Blue Velvet (1986) by David Lynch, and Spellbound (1945) by Alfred Hitchcock all draw upon the cultural movement of Surrealism in order to create their works. Eternal Sunshine of the Spotless Mind (2004) was written by Charlie Kaufman, well known for his surrealist concepts. David Lynch, who wrote and directed Blue Velvet (1986), is also a well known surrealist who has dealt at length with the theme of the illusory nature of reality. Alfred Hitchcock, whose talents for creating suspenseful films that leave the audience in wonder and shock, has long been an influence to contemporary film directors and writers for the modern interpretations of Surrealism in film. His film Spellbound (1945) is a primary example of this influence. Surrealism is a style of art that was developed to create an expressive expansion of the dreams of artists so that the internal could be expressed rather than the external repeated. For Salvador Dali, the work of the Surrealist is â€Å"based on phantasms and representations brought about by the materializations of unconscious acts†. The style utilizes what is real but puts it into an unreal framework. A good example of this type of recreation is in Salvador Dali’s Lobster Telephone, 1936, where a lobster has been substituted for the receiver of the telephone.

Personal statemsent Essay Example | Topics and Well Written Essays - 1000 words

Personal statemsent - Essay Example Therefore, my intended goal is to pursue my professional career objectives of being a lawyer at SOAS; thus I intend to approach every situation with a positive attitude in order to create a better living environment. Since law course is appealing and offers real-life experiences in the society, I therefore, apply to join the Intermediate certificate course at SOAS because I want to increase my knowledge on law related issues. I took challenging subjects while in high school such as advanced placement physics, chemistry but I enjoyed art subjects too. However, I have always dreamt of accomplishing my future goals of attaining my professional carrier in the field of law in order to become a lawyer in the future. My future dream of attaining better law skills in order to become a successful lawyer can be traced from the case that arose in the society where two people involved in the criminal act but there was no better justice that was done. This inspired me that one day I will become a lawyer and provide justice where it is necessary and ensure that fairness or justice is always applied in the society. I know there are always challenges and it is not easy to handle some court cases; however, I wil l work hard in order to ensure that I fulfill the demanding needs of people in the society. SOAS ICC is a good learning environment especially for the international students who want to study for any undergraduate program. SOAS is good place to enable me achieve my academic goals because it offers better learning services for students who want to achieve their future dreams. Moreover, the combination of academic and language studies, which are directly connected to the materials covered in varied academic subjects, will enable me to achieve my intended academic objectives successfully. Studying in this institution will benefit me in diverse ways, hence, enabling me to achieve my objectives successfully; One

Greek Microsoft Case Study Example | Topics and Well Written Essays - 4500 words

Greek Microsoft - Case Study Example He/she will be responsible for the AntiPiracy organization to maximize efficiency of AntiPiracy programs externally throughout customer segments and Reseller's channel & internally for all employees driving AntiPiracy education and readiness campaigns (eg. what is Intellectual Property (IP), SW Asset management (SAM) etc). In addition, for building an external, cross-industry coalition and managing relationships with third party influential's to maximize the impact that we have on government engagement efforts targeting local and foreign influencers to combat piracy." Ten years ago the specific sub was rather small (30 employees). The General Manager was the leader and followed all Microsoft guidelines for personnel and management. This sub was particularly important for the Middle East Africa region therefore there was an interest from the headquarters for the sub's profits and sales turnover. After a major reengineering the sub moved to the EMEA (Europe Middle East Africa) region and its importance was significantly reduced. The Antipiracy Manager's position lost its importance since it became a subordinate of Small and Medium Enterprises Manager (SME) instead of the General Manager as it was before. The work environment, prior to the move to EMEA, was comfortable and employees felt they had initiative and their efforts were rewarded accordingly. When the sub moved to EMEA, a new General Manager took over the position as the old one resigned. The new GM did not have any experience of the software industry (his experience was in Digital, PC hardware) and his leadership style was different. He made his decisions based solely on his Direct Reports feedback without cross checking the info he had and without having first hand experience. This fact plus his non software experience created a very negative work environment. Employees' performance appraisal was based on their good or bad working relationships with the managers and not on objective and measurable criteria. People started playing "politics" instead of being productive. As a result, the sales turnover of the sub, after having seven consecutive years increase, was reduced significantly. The new GM was fired after having only two years work experience at the sub. Brief analysis of the theory of Emotional intelligence and the role of a positive environment. D. Goleman (2000) defines Emotional Intelligence as the ability to recognize our own feelings as well as the feelings of others, to create motives for ourselves and to handle correctly our feelings and our

Ethics and Performance Measures Research Paper Example | Topics and Well Written Essays - 1750 words

Ethics and Performance Measures - Research Paper Example It is imperative to measure the extent to which ethics are applied, so that the company becomes resourceful to employees and the community at large. By doing so, it win the trust of consumers, as well as gaining more profits for the organization. When a company manages to have a greater profit margin, it has a better opportunity to expand and offer more opportunities for employees. The vices that are taken for granted in the company are the ones that draw back the efforts in the organization (Shell, 2009). Unethical Behavior As A Result of Wrong Performance Measures There are many things which lead to the unethical behaviors in an organization. There is a need for constant checking of the manner in which employees conduct themselves because, if they are left on their own, they end up making mistakes due to peer influence or greed. In Sparkling Automotive Company, the presidents need to ensure that there is the measurement of ethics and behaviors of the employees because failure to ch eck on the behaviors can ruin a business that has been operational since 1930. The fact that there are no unethical behaviors exhibited by the employees does not mean that the employees are trustworthy (Arveson, 2002). Most of the employees harbor bad intentions or they get influenced by corrupt distributors or suppliers who access commodity from the company in wholesale. They may offers bribes to the respective employees for some under movements which will cause the company a lot of money. This ends up making the company undergo loss because the workers will out any money to be paid. Competitors use the gullible employees to carry out destructive missions, such as pirating the procedures used in manufacturing of the plugs; they result in production of counterfeit products which affect the results in the markets. Many workers who do not keep the secrets of the company line of production cause a dent to the company because they create unnecessary fracture to the production niche. Whe n counterfeit products are in surplus in the market, it takes the market a hard time to realize, hence, it affects the turnover of the company (Arveson, 2002). Corrupt means of cost cutting in the company where the heads of the organization acquire bribe to give tenders affect the image of the company. All this needs to be checked because neglecting such issues only worsens the situation in the organization of Sparkling Automotive Company (SAC) (Shell, 2009). When performance measures are tied to compensations, it creates a workforce that is driven by the need to create more resources for the company. This propagates the encouragement of unethical behaviors due to compromised honesty. In Sparkling Automotive Company, performance measures fall into four categories, which are customer perspective, financial perspective, internal process perspective, and learning and growth perspective. All these categories need to be acted upon for the company to flourish in its manufacturing and sale s of plugs in Sparkling Automotive Company. When all levels of employees in the company are not involved in the company activities pertaining production and selling of the plugs, there would be a lot of frauds that can choke the running of the organization. Delivering the plugs can counter a lot of hiccups which slow the

Any current controversial issue Essay Example | Topics and Well Written Essays - 750 words

Any current controversial issue - Essay Example Criminals will think twice before committing a crime if they know there are other people in their midst with the same weapons as they have. Having a gun in the house reduces the feelings of insecurity. People feel a bit safe when they possess something to use whenever a mishap happens especially when they are alone. It is also effortless to flash out an intruder, when one has a weapon, intruders are kept at bay. In addition, those in possession of a gun at home are less likely to lose their property or get injured during a robbery ordeal. Guns and weapons, if given to the right people, that is, the law abiding citizens, can be of great advantage to a country, but if they land in the wrong hands, it can be disastrous. Some people would argue that having a gun at home is like sitting on a time bomb. The liabilities that come with it are numerous. The owner has to take various measures to avoid hurting themselves and others. It is important to store the weapons in a safe place, probably locked or in a safe place to avoid them getting into unintended hands. Consciousness is a man’s compass, and if one lacks it, they lack direction. Such people, if, in possession of a weapon, one can be sure there have to be bloodshed. Unfortunately, it is not easy to identify them and hence may end up owning guns. An example of this is in the recent case at the Connecticut where a gun man mercilessly killed twenty school children for no apparent reason. The advocators of guns legalization should wake up and smell the coffee. Enough incidences have already happened for people to still burry their heads in the sand as if nothing wrong is happening. It is ironical that the gun that is supposed to protect the owner is the very one that kills him. There have been cases of suicide, whereby the owners of the weapons use the same weapons to end their lives. If weapons were not kept in the house, probably it would not be so simple for a few people to commit suicide. Nobody keeps a gu n hoping that it will kill him one day. Everyone hopes to be protected by it if need arises. Weapons at home have been turned against members of the family. Reportedly, licensed guns have been used in various incidences of domestic violence. Instead of protecting loved ones, these weapons are harming them. various groups have argued that stricter measures should be adopted regarding gun ownership and use, but even with the strict measures it is a no win situation unless, these guns are left in the hands of their rightful owners that is, the police and the military. Human rights activists have done a great job in educating people on the dangers of being in possession of weapons at home, but people have just decided to shoot the messenger. It is unfortunate that most of the times these weapons have ended up hurting innocent people instead of the criminals. However, much people want to turn a blind eye to this situation. It is obvious the harm brought about by guns and weapons in the n ame of self defense outweighs the benefits. Rowdy youths in possession of guns have been seen to cause chaos and crimes in various cities. The possession of a weapon makes them feel like they are on top the world. It is unfortunate that the security officers, who are mandated and qualified to carry guns, have found themselves on the receiving end. The hunters have become the hunted. There have been various cases of police officers being

In Search of Dibs Essay Example for Free

In Search of Dibs Essay No one is born a parent; no one really is a perfect parent. Dibs: In Search of Self is a perfect example of this as both parents had no idea how to raise a child in a loving, compassionate home. Dibs’ mother stated from the get go that the boy seemed to have it out for her and he was responsible for ruining her and her marriage. The father was completely wrapped up in his work and studies and made sure he’d made no time for his children. Additionally, his children had been instructed to stay out of his room while he was home. Once Dibs’ sister is born, he is again pushed further away as their mother spoils the little girl. Eventually, however even the sister is sent away to a boarding school. I am not so sure I enjoyed this book as I felt rushed reading it (by the author) and that it were too abbreviated in its entirety. I have read other case studies through my child development studies, and those works were much more detailed. This book felt more like a story being told, instead of in-depth observations. I was expecting the author to elaborate on the issues surrounding Dibs’ behavior, rather than just explaining them away as the mother and father. Dibs was lost in his world with very little connection to any other human beings. His parents’ lack of parenting and nurturing caused his internalization where he couldn’t control his feelings because he could not understand them. Through play therapy, Dibs learned he could control the tap water in the play room sink, he could control who was buried in the sand, he could find himself by working out what his feelings were and what they really meant. However, he couldn’t get the nipple back on the baby bottle. He’d splash in the water, turn it down to a slow trickle, turn it on full force and he would sing to it, yet he repeatedly asked Miss A to replace the nipple on that bottle. (Axline, 1964, p. 159) This showed me that he indeed was an adolescent who desperately needed support, which he was not getting from home. The father’s response to Dibs’ chattering after his Thursday session really bothered me. Instead of interacting with his son, he shut him down, effectively causing Dibs to react negatively. Dibs screamed at his father that he hated him. (Axline, 1964, p. 80) I had my mom read this book to give me some feedback and about half way through it, she’d stated that she’d read it once before. She was about 16 years old in 1978 and her mother was reading it for a college class. They would read it aloud to her and her siblings after dinners during her semester. She recalled how uncomfortable she felt hearing the book. â€Å"In those days, you didn’t talk to people who had children like Dibs. You didn’t look them in the eye, you didn’t ask them anything. You avoided them like a disease, because that’s almost what they were. When people would converse about them, it was always in hushed tones. We would always hear how bad people felt becau se the child was retarded or manic.† During the interview of Dibs’ mother, she stated: â€Å"There was no place we could send him.† (Axline, 1964, p. 87) This intrigued me because it seemed very cold for her to want to just get rid of her child, but again in talking to my mom, that was how it was in that time period. It was standard practice to send problem children off to boarding schools or private practices to keep peace in well to do families. Again, Dibs’ sister was eventually sent to a private boarding school herself, even though she was labeled as â€Å"a perfect child†. â€Å"When I was a child, a problem child or one with disabilities or with any behavior problem was taken out of public schools. We grew up with them for a time, then one day they were gone. We were scolded if we talked about them or asked about them in public. I can remember a little girl I was in Girl Scouts with until we were 12 years old. When we started the 6th grade, she had to go to another school because she couldn’t read or write like she was supposed to. I never saw her again and I remember my mother telling me not to talk about her anymore. I didn’t understand it until I was in my late 20’s. She was dyslexic and had severe learning disabilities. The school passed her up until the 6th grade, when the school system decided she needed more help than they could offer.† (Interview quote from Roberta Baldwin, 04/21/2013) I think it’s interesting how far we’ve come and how much procedure has changed for helping children with disabilities, abuse, emotional issues, etc. I am absolutely relieved  that the change was for the better since I have a nephew with physical disabilities who will have all of the support he will need to become successful in his world!

Kellers Customer Based Brand Equity Model Marketing Essay

Kellers Customer Based Brand Equity Model Marketing Essay Principles of Marketing, by Philip Kotler and Gary Armstrong and the American Marketing Association defined brand  as a name, term, sign / symbol or a  combination of these that identifies the maker or seller of the product and differentiates them from those of the competition. Aakers (1991) widely accepted definition of a brand is to identify the goods or services of whether one seller or a group of sellers, and to differentiate those goods or services from those of competitors. Brands are thus, valuable assets and tools influencing consumer behavior which includes awareness, choice, use, satisfaction, recommendation, trust and loyalty. They reduce information search costs and risk for consumers and deliver quality, values, promises, and lifestyle enhancement (Czellar, 2010) .According to Keller (2002) the benefits of a strong brand can be categorized under 4 different categories, namely, product-related effects, price-related effects, communication-related effects and channel r elated effects. Product-related effects of brand include consumer product evaluations, consumer confidence, perceptions of quality, and purchase rate positively related to a brand name. If consumers are well aware of a brand, their attitude and their purchase intention toward the brand are increased. Price-related effects refer to the fact that brand leaders have higher priced positions and consumers have a lower level of price sensitivity toward those leaders. Communication-related effects refer to how the evaluation of brand advertising can be positively biased when consumers have positive feelings toward a brand which is a well known and well-liked brand and the effect of the well-known brand, which is most likely to have competitive advantage in marketing activities, is the channel-related effect. 2.2 Fashion and Branding According to Solomon and Rabolt (2004), fashion is defined as a style that is accepted by a large group of people at a given time. Generally people use the term fashion and style interchangeably. In the fashion context, consumers choose a certain fashion brand over others because they are associated with a certain style (Ferney et al.2005).The way individuals have their own distinctive personalities and styles in the manner of living, speaking as well as dressing, the brands too can be associated with a particular personality, because branding has the propensity to distinguish a brand from others by creating an individual brand personality, by using different brand elements like name, logo, symbol, and package design(Newman and Patel ,2002).Branding is important in fashion retailing as the brand can project a specific image like personality, sex, lifestyle and age, to the target consumers. Like in case of a sports brand, the attribute of sporty feeling would be formed in consumers mi nd whereas a casual fashion brand would be associated with the casual attribute (Keller 2002). The brand image allows fashion merchandise to communicate a distinct symbolic meaning, through merchandise, store atmosphere, sales associate attraction with customers, and marketing campaign, between the retailers and the consumers (Ferney et al, 2005). Newman and Patel discovered that brand image is crucial in this intensely competitive fashion retail sector. As different types of fashion consumers are matched with particular clothing styles, brand image can create a point of difference and assist consumers in selecting a suitable fashion brand. A successful fashion brand can capture the market share and maintain a positive relationship with its customers, therefore creating an appropriate fashion brand is one of the primary ways for the marketers to differentiate the products from the competitors. In brief, fashion and branding are closely related (Solomon and Rabolt 2004; Newman and Pa tel, 2002). 2.3 Brand Equity In Building Strong Brands, David Aaker defined brand equity as a set of brand assets and liabilities linked to the brand-its name and symbols-that add value to, or subtract value from, a product or service. The major asset categories are brand loyalty, brand name awareness, perceived quality and brand associations. http://www.tvonlinesurveys.com/enquete/Brand%20equity%20model%20Aaker.bmp(Aakers Brand Equity Model) The model mainly talks about how brand equity is formed of five components and how each has a role to play in the performance of the brand and indicates that how the brand equity will rise with the increase in brand loyalty, brand name awareness, and perceived quality and with stronger and positive brand associations and also with the increase in the number of brand related proprietary assets. This model can thus be used to get to grips with a brands equity and gain insight into the relation between the different brand equity components and the future performance of the brand. Apart from the five components, the model also reflects indicators or the consequences of the pursued branding policy. (Aaker, 1991) The five components and the factors having an influence on these components are: Brand loyalty: Aaker (1991) defines brand loyalty as the attachment that a customer has to a brand. Two different levels of loyalty are classified: behavioral and cognitive loyalty (Keller, 1998). Behavioral loyalty can be indicated by a number of repeated purchases (Keller, 1998) or commitment to buy the brand as a primary choice .Cognitive loyalty refers to the consumers intention to buy the brand as the first choice .Another indicator of loyalty is the customers willingness to pay higher price for a brand in comparison with another brand offering similar benefits. The extent to which people are loyal to a brand is expressed in the following factors: Reduced marketing costs, as hanging on to loyal customers is way cheaper than charming potential new customers. Trade leverage, as loyal customers represent a stable source of revenue for the distributive level. Attracting new customers, as current customers can help boost name awareness and hence bring in new customers Time to respond to competitive threats, as loyal customers that are not quick to switch brands give a company more time to respond to competitive threats. (Aaker, 1991) Brand awareness: It is a key determinant of brand equity. It is defined as an individuals ability to recall and recognize a brand. Top-of-mind and brand dominance is other levels of awareness included by Aaker (1996) in measuring awareness. Awareness can affect customers perceptions, which lead to different brand choice and even loyalty (Aaker, 1996). A brand with strong brand recall (unaided awareness) and top of mind can affect customers perceptions, which lead to different customer choice inside a product category. The extent to which a brand is known among the public ,can be measured using the following parameters: Anchor to which associations can be attached (depending on the strength of the brand name, more or fewer associations can be attached to it, which will, in turn ,eventually influence brand awareness) Familiarity and liking (consumers with a positive attitude towards a brand ,will talk about it more and spread brand awareness) Signal of substance/commitment to a brand. Brand to be considered during the purchasing process (to what extent does the brand form part of the evoked set of brands in a consumers mind) (Aaker, 1991) Perceived quality: It is defined as the customers judgment about a products overall excellence or superiority in comparison to alternatives brand and overall superiority that ultimately motivates the customer to purchase the product (Aaker and Jacobson, 1994). It is difficult for customers to make a rational judgment of the quality. They are likely using quality attributes like color, flavor, form, and appearance of the product and the availability of production information to infer quality. The extent to which a brand is considered to provide good quality products can be measured on the basis of the following criteria: The quality offered by the product / brand is a reason to buy it. Level of differentiation/position in relation to competing brands. Price, as the product becomes more complex to assess and status is at play, consumers tend to take price as a quality indicator. Availability in different sales channels, i.e. consumers have a higher quality perception of brands that are widely available. The number of brand extensions (this can tell the consumer the brand stands for a certain quality guarantee that is applicable on a wide scale) (Aaker, 1991) Brand associations: Consumer must first be aware of the brand in order to develop a set of associations. Brand association contains the meaning of the brand for consumers; it is anything linked in memory to a brand (Aaker, 1991). Brand associations are mostly grouped into a product-related attribute like brand performance and non product related attributes like brand personality and organizational associations. Customers evaluate a product not merely by whether the product can perform the functions for which it is designed for but the reasons to buy this brand over the competitors. Brand personalities include symbolic attributes (Aaker, 1996; Keller, 1993) which are the intangible features that meet consumers needs for social approval, personal expression or self-esteem. The associations triggered by a brand can be assessed on the basis of the following indicators: The extent to which a brand name is able to retrieve associations from the consumers brain, such as information from TV advertising. The extent to which association contribute to brand differentiation in relation to the competition (these can be abstract association or associations with concrete product benefits) The extent to which brand associations play a role in the buying process (the greater this extent ,the higher the total brand equity) The extent to which brand associations create positive attitude/feelings(the greater this extent, the higher the total brand equity) The number of brand extensions in the market (the greater this number, the greater the opportunity to add brand associations) (Aaker, 1991) Other proprietary assets: Some of the examples are patent and intellectual property rights, relations with trade partners, etc. (the more the proprietary rights a brand has accumulated, the greater the brands competitive edge in those fields) (Aaker, 1991) The model also provides an insight into the criteria that indicate to what degree actual value is created with both consumer and company due to pursued branding policy. However, this model does not make a clear distinction between added value brand can have for the consumer /customer and added value it can have for the brand owner/company and does not even discuss the process that goes into building strong brands, and is only useful to gain insight into the various brand equity components and the relation between them. (Wood, 2000) 2.4 Kellers Customer-based Brand equity model This model depicts the process that goes into building strong brands. It is set in the realm of brand added value, i.e. the focus of this model is on the added value a brand offers its customers/consumers. Kevin Lane Keller introduced this customer-based brand equity model, and has defined it as the differential effect that consumers brand knowledge has on their response to the marketing of that brand (Keller 1993).Differential consumer response is mainly based on consumers knowledge of the brand as well as the favorability of associations. The model is made up of various steps, which should be taken in a fixed order. The model talks about the six dimensions of brand equity, namely, brand salience, brand performance, brand imagery, consumer judgments, consumer feelings and brand resonance. According to Keller, the highest level of brand equity is realized when the top of the pyramid is attained. In his view, the resonance comes about when the consumer has a high level of awareness of and familiarity with the brand and holds some strong, favorable and unique associations in memory. (Keller, Strategic brand management, 2002) http://markhendrikse.squarespace.com/storage/post-images/july-2009/cmmemodel.jpg?__SQUARESPACE_CACHEVERSION=1247443493748 (Kellers customer based brand equity model) The six dimensions and the process that goes into building of strong brands, as identified by Keller are: Brand Salience: The first step in the development of a strong brand involves describing its identity, and revolves around the question: Who am I? .To achieve this, the brand managers need to ensure that the customers should be able to identify with the brand. A clear associative link between the brand and a specific product class/category has to be established in the mind of the consumer, this also further helps in creating a solid footing for the building of brand awareness and knowledge. Salience basically refers to how familiar consumers are with a brand and whether the brand is actively considered when consumers find themselves in purchase or consumption situations. A high level of salience means that a consumer has knowledge of both the depth and the width of a brand, (depth here refers to the ease with which a brand can be activated in the consumers brain, while width refers to the extent to which happens when the consumer is making a purchase decision.)Brand Salience is thus a precondition for moving up on the brand pyramid. (Keller, 2002) (Keller, Strategic Brand Management: a european perspective, 2008) Brand performance and brand imagery: when brand salience has been realized, the process moves on to the next steps in the development of brand meaning. The second step basically answers the question: What am I?This question is answered by using intrinsic (tangible) and extrinsic (intangible) characteristics of a brand.(Intrinsic characteristics refer to the degree to which a product/service is seen to perform by consumers, and extrinsic characteristics refers to how consumers think about a brand. In order to boost overall brand equity the focus needs to be on both brand performance and brand imagery, since they together add on to the brand associations. Raising brand performance starts by delivering a product/service that fulfills current customers needs, followed by attempts to surpass the triggered customer expectations. Brand imagery on the other hand can be increased by tailoring to consumerspshyco-social needs. Imagery refers to what people think about a brand (in terms of value and meaning) and not so much about what exactly the product does or can do (in terms of functionality).It can be raised directly by creating brand experience or indirectly through advertisement. In the end, these two dimensions together need to bring about certain brand associations that are strong, positive and unique. These dimensions also play an important role in creating brand loyalty. (Keller, 2002) Brand judgments and brand feelings: After realizing strong, positive and unique brand associations, the third step deals with the way consumers think and feel about a brand. This step basically contains the responses to the efforts from step 2(performance and imagery).the brand is evaluated and judged at this stage, formulating a certain attitude towards the brand. The two dimensions at play here are: brand judgments (rational) and brand feelings (emotional).the former denotes the opinion consumers have of a brand, and how they evaluate the brand. The opinion in this case is formed rationally and based on three criteria, quality, reliability and superiority. Brand feelings on the other hand are the emotional reactions by consumers to brands and their marketing efforts. What feelings does the brand evoke in the consumer, and in the social environment? Are these feelings intense or not, positive or negative? These feelings can very strong and can have an affect on brand observation dur ing actual use of the product. These feelings are based on various factors, namely, warmth, pleasure, tension, security, social acceptance and self respect. (Keller, 2002) Brand resonance: once when the consumer has acquired a positive idea of the brand in both a rational and an emotional sense, a solid base is created to further jump on to the last stage. This stage answers the question whether the consumer is willing to enter into a (lasting) relationship with a brand. If this stage is attained, then its considered as the brand has achieved true brand loyalty, where the consumer identifies him/herself with the values of the brand to a considerable degree and is willing to invest in a relationship. Brand resonance is an ultimate relationship between a brand and a consumer. The closeness of the bond can be measured using factors like loyalty, emotional bond, being a member of a brand community and active brand involvement. (Keller, 2002) Brand equity if used appropriately, possesses a huge potential to create advantages and benefits for the firm, the trade and the consumer. Some of the benefits of strong brand equity being, improved perceptions of product performance, greater loyalty, less vulnerability to competitive marketing actions and marketing crises, larger margins , more inelastic consumer response to price increases and more elastic consumer response to price decreases ,greater trade cooperation and support ,increased marketing communication effectiveness along with licensing opportunities and additional brand extension opportunities.(Wood ,2000 ; Feldwick, 1996) 2.5 Brand equity and brand extension Brand equity can be leveraged by building it, borrowing it, or by buying it. Building brand equity is not an easy task due to the rapid increase in the number of brands and the intense competition that is prevalent in many industries. Thus, the brands generally prefer to opt for the alternatives to building brand equity i.e. by borrowing it or buying it. (Moisescu, 2005; Tuominen, 1999) Since the study focuses on the role of brand equity in brand extensions, leveraging brand equity by borrowing it, will be discussed. Borrowing brand equity: According to Tuominen (1999), many firms borrow on the brand equity in their brand names by extending existing brand names to other products, which is referred to as brand extension. There are two types of brand extensions namely, a line and a category extension. A line extension is when a current brand name is used to enter new market segment in the existing product class, whereas, a category extension is when the current brand name is used to enter a different product class. A line extension occurs when a company introduces additional items in the same product category under the same brand name. A line extension often involves a different size, color, flavor or ingredient, a different form or a different application for the brand (Richard Elliot, 2006). Products in line extensions are technically congruent, i.e., similar in many attributes. They belong to the same product category or subclass. The vast majority of new-product activity consists of line extens ions. Excess manufacturing capacity often drives a company to introduce additional items. The company might want to meet the consumers desire for variety. The company may recognize a latent consumer want and try to capitalize on it (Moisescu, 2005). The company may want to match a competitors successful line extension. Many companies introduce line extensions primarily to command more shelf space from resellers. Line extensions involve risks. There is a chance that the brand name will lose its specific meaning. This is called the line-extension trap (Eun Young Kim, 2000) .The other risk is that many line extensions will not sell enough to cover their development and promotion costs. Furthermore, even when they sell enough, the sales may come at the expense of other items in the line. A line extension works best when it takes sales away from competing brands, not when it cannibalizes the companys other products (Moisescu, 2005).A category extension occurs when a company decides to us e an existing brand name to launch a product in a new product category. Category extensions capitalize on the brand image of the core product or service to efficiently inform consumers and retailers about a new product or service (Richard Elliot, 2006).The potential benefits of category extensions include immediate name recognition and the transference of benefits associated with a familiar brand. A well-regarded brand name gives the new product instant recognition and earlier acceptance (Eun Young Kim, 2000). It enables the company to enter into new-product categories more easily. Moreover, category extensions eliminate the high costs of establishing a new brand and often reduce the costs of gaining distribution (Eun Young Kim, 2000; Dennis A. Pitta, 1995). Category extensions also involve risks. The new product might disappoint buyers and damage their respect for the companys other products. The brand name may lose its special positioning in the consumers mind through over-extensi on. (Dennis A. Pitta, 1995) Brand dilution is said to occur when consumers no longer associate a brand with a specific product or highly similar products (Richard Elliot, 2006). Companies that are tempted to transfer their brand name must research how well the brands associations fit the new product. The best result would occur when the brand name builds the sales of both the new product and the existing product. An acceptable result would be when the new product sells well without affecting the sales of the existing product. The worst result would be when the new product fails and hurts the sales of the existing product (Tuominen, 1999). Transferring an existing brand name to a new product category requires great care. In order to successfully maintain and further leverage the existing brand equity and to prevent it from any damage, a brand needs to carefully extend itself by maintaining perceptual fit, competitive leverage, and benefit transfer. Where in perceptual fit means that the consumer must perceive the new item to be consistent with the parent brand, competitive leverage means that the new item must be comparable or superior to other products in the category and benefit transfer means that the benefit offered by the parent brand is desired by consumers of products in the new category (Dennis A. Pitta, 1995; Tuominen, 1999). To use brand equity efficiently and appropriately and to further maintain perceptual fit, competitive leverage and benefit transfer, a brand needs to know and consider various factors while deciding upon a brand extension strategy. Consumers beliefs and feelings about the original brand are likely to be transferred, only when the extension product is perceived as a member of the original brand family (Abhishek Dwivedi, 2007).The greater the fit / similarity perceived by consumers between the extension product and the original brand, the more likely, the affect associated with the original brand would be transferred to the extension product. Thus the consumer perception of fit is s the most important construct in a consumer evaluation of brand extension. The consumer perception of fit serves as a heuristic cue in a consumer brand extension evaluation process because one of the functions of similarity is to allow people to make educated guesses in the face of limited knowledge with the brand extension (Leslie de Chernatony, 2001). The extension product is new to the consumers so if it is perceived as similar to the original brand, the consumers will be able to make inferences or judgments about the new extension based on these similarities. The perceived fit will be achieved when a consumer perceives that the new extension product is consistent with the parent brand ,or a family member of the brand name, and then affect or attitude transference will be more likely to occur ,to facilitate the brand extension evaluation. It is widely accepted that fit perceptions between an extension and its parent brand determines consumer evaluations of brand extensions and there is a positive relationship between the fit perceptions and consumers attitudes toward the extension. (Abhishek Dwivedi, 2007; Havard Hansen, 1998) 2.6 Dimensions of fit The perception of fit is an important determinant but there still considerable variances about its dimensions in the literature. The most popular concepts that have been used to define the dimensions of fit are similarity ,relatedness, typicality, and brand concept consistency. These concepts define the perception of fit from different aspects, but they also have some overlaps. (Langlotz, 2008; Izabella b.2009) 2.6.1 Similarity: In most research similarity refers to how alike the original product and the extension product are in terms of features and attributes. The consumer similarity judgment involves comparing or matching features between the original product category and the new extension product category. The more features that overlap or match between the two classes of products, the more likely it is that these two products will be perceived to belong to the same cognitive category (Dr. Ashish Sharma, 2007) .Besides, shared features between two product classes, similarity also refers to shared benefits, which means that two products have a common goal. Similarity can also be used to refer to sharing same usage situations, or being complementary in usage. From the firms perspective similarity also refers to manufacturing synergies or the firms ability to transfer the marketing, operating or manufacturing capability from the original product to the new extension product ( Izabella b.20 09). According to Aaker Keller (1990), similarity is based on three elements, complement, substitute, and transfer. Complement indicates the extent to which consumers view two product classes as sharing the same usage context. Substitute is the extent to which consumers perceive two product classes can replace each other in satisfying the same need. Transfer is the extent to which the perceived ability or skill of a manufacturer that is required for the extension overlaps with that of the parent brands. Consumer perceived similarity plays an important role in brand extension evaluation. It can enhance the transferability of perceived quality of the brand to the extension, and directly affect the attitude towards the extension; the higher the level of similarity, the more favorable the attitude toward brand extension (Langlotz, 2008). 2.6.2 Typicality: It is used to measure the consumers perception of fit between the extension product and the original family branded products. According to Tauber (2001), when an extension shares more features of current family branded products, it will be a more typical member of the family brand and the affect transference will be more likely to occur on the new extension. Typicality refers to how representative the extension product category is of the original family branded products .An extension product may be perceived as a typical member of the original brand family not only because it shares many physical features of the original product, but also because it represents the family brand image at a high level. Typicality is basically a broader view of similarity .It also includes some non product related aspects like the brand image. Typicality has an impact on consumer brand extension evaluations; however the notion of typicality may be more useful measurement of fit percepti on when the original brand has more than one existing product, because it measures how representative the new extension is of the brand family. (Tauber, 2001; Vukasovic, 2001) 2.6.3 Relatedness: It is another word used to describe the fit between the extension product and the original brand .It refers to the strength of the association between the brands parent category and the target extension category (VukasoviÄ , 2001). The consumer attitudes transference is more likely to occur on extensions which are closely related to the parent categories. Relatedness is a similar concept to similarity. It depends on the similarity of common features, complementarities in a common usage situation, and substitutability in providing a common function. However, relatedness is a more inclusive construct than similarity. The notion of similarity only refers to the common physical features between the original product category and the extension category. It does not accommodate the notion of conceptual coherence; i .e, sometimes two product categories are perceived to be related to each other conceptually not physically. So it can be concluded that relatedness offe rs a broader view of similarity. (Langlotz, 2008).Like the concept of typicality, the notion of relatedness defines consumer perceptions of fit on the concept of similarity, but they both offer some idea that is more than the similarity concept. These two concepts indicate that the consumer perceptions of fit in brand extension evaluations include not only physical product similarities, but also consistencies at some non physical levels, for example the brand image level and product conceptual level. (Langlotz, 2008; Vukasovic, 2001) 2.6.4 Brand concept consistency : Although both concepts of typicality and relatedness capture some non physical aspects of fit, the non product aspects of fit are accommodated more by the concept of brand concept consistency. A brand concept is the brand image, which is made up of specific associations that differentiate the brand from other competing brands. It is the unique abstract meaning that is derived from a particular configuration of product features (Tauber, 2001). Langlotz (2008) reveals that when consumers evaluate a brand extension, they not only take into account information about the product feature similarity, but also the concept consistency between the brand concept and the extension. The brand concept consistency is more non product related and is more about the brand image than the physical features. The more that consumers think the extension is consistent with the parent brand concept or image, the more favorable consumer attitudes are toward the extension. Thu s those extensions, which are very different from the parent product category physically, can also be perceived as fitting with the parent brand, as long as they have consistent images and concepts with the parent brand. Compared with the notion of similarity, brand concept consistency captures a totally different aspect of fit. However it is believed to be equally important to the similarity between the extension product and the original product in a consumer brand extension evaluation process. The concept of consumer fit perceptions in brand extension evaluation is incomplete without either similarity or brand concept consistency (Tauber, 2001; Vukasovic, 2001). 2.7 Role of Consumer knowledge in brand extension evaluations Consumer knowledge is indicated as one of the moderating variables that have an impact on consumer fit perceptions in the brand extension evaluation process (Ma, 2005). Thus, review of the importance of the consumer fit perception in a brand extension evaluation, and its dimensions is followed with the review of consumer knowledge. 2.7.1 Influence of knowledge on consumers behaviors: Consumers with high and low knowledge react differently in a variety of consumer behaviors like information processing evaluation strategies and decision making. The differences between high and low knowledge consumers are addressed in three related areas: Differences in cognitive structure ,capabilities of analysis, inference and memory, Differences in internal knowledge transfer, Differences in similarity judgments between brands, Differences in fit perception in brand extension evaluations. (Phau, 2003)