Family and Consumer Personal Finance Essay Example | Topics and Well Written Essays - 250 words

Family and Consumer Personal Finance - Essay Example It looks for social factors, governmental, and economical factors that have contributed to such changes within the previous generation. Social economic mobility in United States does refer to movement of the Americans from a social class or level of economy to another may be through job changing or even marriage. Vertical mobility could be socio economic status changes between children and parents (â€Å"intergenerational†) or even over a life time course (â€Å"intra-generational†). Typically it refers to relative mobility, which is a chance that income status of Americans will fall or raise in comparison to the others or rather another income/status group. It also can be absolute, which means whether as well as by how much American living standards have increase. In the recent past years studies have discovered that vertical intergenerational mobility has been lower. Less higher in the United States than in other countries. Studies do differ in whether social as well as economic mobility in the recent years has gotten lower. In 2013, income inequality was getting to be more permanent reducing social mobility sharply. In 2014 income mobility had changed appreciably at least in the previous 20 years. Economic issue or financial crisis had wide ranging as well as long term economic implications in United States and the world, and it was much media attention focus over years. The crisis also did have a significant effect on many United States citizens personal finance. Some effects felt by U.S citizens in the previous generation were the direct consequences for financial crises which did produce the crisis for instance sub-prime mortgages provision to individuals who did struggle to pay back their debts. As a result, most people lost their homes they had bought within the years leading to the crisis. Other part in the U.S experienced incredibly for closure high rates. Governmental factors have contributed critically to changes in family and personal finances

Course Project Benefit Plan Analysis Term Paper

Course Project Benefit Plan Analysis - Term Paper Example Organization profile This report assesses and analyzes the benefit plan and design. It revolves around the profile of an organization called the Metropolitan Chicago Health Council (MCHC). This organization is engaged in the provision of valued added healthcare services, governmental advocacy and educational services. It has a wide range of hospital human resources section requirements which handles the benefit plan on behalf of the employees. The benefits that the employees accrue involve an indirect compensation designed to improve the quality of work together the personal lives of all employees. The benefits for the employees are approximately 43% of their total gross salary. Since these benefit programs are costly in nature, this report looks into their costly nature. It further acknowledges the need for a revision of these benefits programs in order to meet the current regulatory requirements and changing market needs. Benefits program The benefit program also requires developme nt of structural choices at all levels. According to Bohlander (2009), the inclusion of defined or non-defined retirement schemes in the benefit plan leads to risks and more workload in terms of resource management. The project will consider the need of considering factors to be taken into consideration when implementing the benefit plan and the reason for stakeholder involvement. Main focus is centered towards the aspect of cost of the benefit program. Solutions relating to the cost issue are cost analysis, cost description and cost minimization. Cost minimization will be the preferred solution out of the three. Cost analysis and description are equally good though cost minimization ensures maximum and optimal benefits to both the employer and employee in the short and long run. Characteristics of a sound benefit plan A sound benefit plan should be the one that values all the needs of both the employees and the employer. It should also take into consideration the ever changing mark et expectations both in the short and long term and should also meet all the regulatory requirements (Rosen, 2005). Finally, it should be cost effective meaning that cost are easily managed and kept at a minimum. Part 2: Statement of the issue The issue in Metropolitan Chicago Health Council is the need for a revision of its benefits programs in order to meet the current regulatory requirements and changing market needs. Health benefits for employees are issued by insurance companies. The criterion used in deciding the kind of benefit to be given to each employee is that of expertise and skill. Most of the benefit packages are custom made by worksite solutions. Every staff member is given a custom benefit statement that included the salary. With the increased demand in healthcare benefit schemes, the cost of implementing and sustaining the benefit plans has increased. Therefore, cost minimization is a goal in most organization. An online system is an advantageous way of minimizing c osts. This is because it

The Road Not Taken Essay Example for Free

The Road Not Taken Essay Every adult faces challenges and life-altering decisions. In â€Å"The Road Not Taken† by Robert Frost this dilemma is brought to life. The character in the poem has free will to choose whichever path he wants. He is completely unaware of what his choice will bring but he leaves it to chance. He knows he has to make a choice and that it is impossible to know whether or not it is the right choice. He knows that no matter what his choice is he will always wonder what his life would have been like had he chosen the other path. In reality there is no right or wrong path. There are only decisions and outcomes. The theme of decision making in this poem takes a â€Å"seize the day† approach. No matter the outcome the traveler knows he still must make a decision and make the best of it. The setting of the poem takes place in the woods. The character is standing there studying a forked path. It is ironic that both paths are seemingly the same, they are both intriguing to the traveler and he wishes that he could travel them both. The forked path is symbolic of life and all of its many choices that must be made. Just as the character is unaware of what his choice may bring, outcomes of adult choices do not always turn out as expected. The title of the poem â€Å"The Road Not Taken† is significant. The poem is named after the path that was ultimately not chosen, leaving the reader to believe to think it was written with regret. In stanza 4 the regret is brought to light with a metrical device. â€Å"Sigh† is an onomatopoeia that emphasizes the characters regret or relief. That one word makes the reader want to go back and reread the poem to make sure the theme is understood. The traveler is either regretting his decision that he made or he is relieved that he made the best choice for himself. It is left up to the reader’s interpretation to discover what the poet was trying to say. Some other metrical devices used are imagery, symbolism, personification, rhyming, alliteration, and allegory. The reader is presented with imagery in â€Å"two roads diverged in a yellow wood† and again in â€Å"And both that morning equally lay in leaves no step had trodden black†. This gives the reader something to visualize. Personification is used in â€Å"because it was grassy and wanted wear. † A road cannot produce a feeling to want wear. The rhyme scheme of ABAAB in this poem produces interest and makes for an entertaining read. Alliteration is used when the poet writes â€Å"wanted wear†. Allegory presents itself when the poet writes about the two paths when his ulterior message is about choices. All of the devices used in the poem support the poets overall theme. Out of all of the â€Å"roads† faced in life the roads not chosen to take have just as much impact as the roads that are chosen. There is no way of knowing the outcome of a decision unless you make the decision and see what happens. You may be happy with that choice, or you may sigh and wish you had made a different choice. Some of the choices you make are final, the poet makes light of this when he writes â€Å"I doubted if I should ever come back†. It is as if he knows that he will not ever be returning to â€Å"The Path Not Taken†. The poet allows the reader to come to their own imaginations, ideas, and outcomes in this poem. This is a poem that can be interpreted many different ways.

Russian Standard Vodka Strategies For Global Markets

Russian Standard Vodka Strategies For Global Markets Introduction Roustam Tariko, founder of the Roust Holdings planned to establish a brand that will set up new standards of world class quality for new breed of global Russian brands. Tariko focused on setting up the standards by a product which is distinctive because of its Russian Heritage so that Russians can take pride in it, and to fulfill this requirement vodka was the obvious option as it is developed in Russia and strongly associated with the country. Tariko launched the vodka and by 2002, Russian Standard was outselling all other brands achieving the top position in the vodka market. This success of the Russian brand was attributed because of its consistent product quality, packaging, and merchandising and of course because of its strong depiction of Russian heritage. Encouraged by its success, Tarikos management launched the Russian Standard in the European countries aiming to make it the best vodka globally. Russian Standard vodka was making business in around 10 European countries, the company wishes to enlarge the business by further crossing the boundaries by entering into the US Market. Vodka is very famous in the US; it has a huge market, largest around the globe and there are many best selling companies which offer premium quality vodka. Launching Russian Standard vodka in US would mean high competition with the already existing brands that are quite popular among customers. The Russian Standards also expanded the list as Tariko decided to launch a new type of bank which will serve foreign trade companies, small business and individual customers. The challenge faced by the Russian Brands team was to make the two diverse businesses compatible with each other while maintaining the standards of the Russian Brand. The report presents a brief overview of the brand equity concept of the Russian Standards and the reasons behind its success story, discusses the horizontal brand diffusion in terms, and also debates over the possibility of launching Russian Standard in US and whether it needs to change its strategies to attract the customers. Brand equity is considered to be a crucial source for profitability. A firm with strong brand equity can have a significant edge in the market as compared to its competitor. It can be able to charge higher prices with its brand image backing it up. The firm can also enjoy a larger market share, a possibility of further product extensions and even draw more investment into the existing business. This is the reason why in the present world, branding or brand image has become a very important strategic issue for businesses. Businesses such as Pepsi, Coca Cola, Ralph Lauren, Nestle etc have very strong brand equities, because of which they are able to enjoy huge market shares as well as the ability to price their products higher than what they would have if they did not have their respective brand names. Brand equity is the value of a company which is only because of its name. As observed by Dr. Ramachandran (2010) brand equity is the outcome which is attributed to the products brand name as compared to the same product without a brand name. Due to the benefits strong brand equity can provide, every corporate entity works their utmost to excel others in the retail sector. However the question arises that what makes a brands equity stronger than it is? According to Kellers (2003) brand equity pyramid, there are mainly four steps and six building blocks which establish a consumer based brand equity for a firm, namely; Salience (identity), Performance and Imagery (meaning), Judgments and Feelings (Response) and finally Resonance (relationship) (Appendix 1). These are the steps at which the consumer asks respective questions related to the firm, and each step leads onto the next until the consumer places complete confidence in the firm, and thus the firm is able to acquire strong brand equity. This model by Keller (2003) can be used to explain how the Russian Standard brand was able to establish strong brand equity and how this brand equity helped the company to gain commendable success in Russia. Brand Salience The very first step in the pyramid is that of Salience, or identity. This is the step where the consumers ask the firm or product, who are you. This means that when a firm is introduced in the market, the firm establishes distinct identity. It establishes its association to a particular product class, i.e. consumers consider the firm/product according to this distinct identity. Brand salience can be defined as to how often and easily the brand is evoked under various situations and circumstances? (Keller, 2001) The beginning of the Russian Standard brand was with a mindset that its products were to be established in such a way which would be able to gain long lasting consumer association. The objective was to establish an exclusive product, which focused on Russian traditions. The brand identity established by Tariko was such that the Russian Standard brand was identified as the standard for Russians. The aim was to reach for the emotional aspect of consumers while they can relate themselves to the brand and claim pride in owning it. As the case study points out that the Russian Standard Vodka is identified as a traditional Russian souvenir, like matryoshka wooden dolls, Red Army captain watches, and lacquer boxes from Palekh (Grigorian, 2000). The intricate details taken into account in establishing the brand salience for the Russian Standard Vodka can be largely attributed to the brand equity that it enjoys today. Keeping the brand equity in order to build and protect the equity a brand positioned as a premium brand has to keep up with the expectancy by the consumers. For a premium brand the customer expectancy is not only from the quality of the product but it starts from the manufacturing to the pricing to packaging to delivering as well as to promotion (NetMBA). In all these levels a premium level of quality is expected. Russian standard has been careful in keeping quality at the utmost level while carrying out the four Ps. The product was produced with quality ingredients. The packaging was outlining quality in every aspect including meticulous details like design, labels, bottle caps and cases. The pricing was done to put the product in the premium to super premium category and the distribution was carefully laid out to acquire shelf spaces in fancy restaurants and night clubs and even in the highly perceived supermarkets. Brand Meaning Moving onto the next step of the Kellers pyramid, Performance and Imagery are what gives a brand its meaning in the minds of the consumers. The performance block includes all the principal characteristics of the brand, i.e. how well is the brand able to conform to the consumers psychological and functional requirements. This portion of the pyramid basically includes the basic features of the product, pricing, design, durability etc. Whereas, the brand imagery portion of the pyramid includes all the characteristics that are connected to the product, i.e. the products user profile, the values and history that the product reflect along with the distributional structure of the product(Keller, 2003). The Russian Standard brand was known for its quality, packaging and strong distribution channels. It was designed to be the first domestic brand to create a rich mosaic of imagery. It focused not only on quality but also on the price, packaging, merchandizing and communication. The Russian brand emphasized on depicting the Russian heritage to connect to the Russian customer and also achieve and ensure product quality that will attract the customers and make them loyal to the brand. The Russian major scientific institute which specialized on food research, in 1990s, along with Mendleev formulated a formula for vodka, this was patented to be exclusively Russian, it was considered a symbol of quality. The quality based on Mendeleevs recommendations of the vodka was of utmost importance to Tariko, which was then communicated to the people through extensive advertisement promotion, the designed bottle of vodka showed Mendeleves signature so that the customer will felt secure about the qua lity of the product. By establishing this strong connection of vodka with the Russian heritage, Traiko developed a certain sense of meaning and understanding among his customers that they were attracted emotionally and physiologically towards the Russian Brand vodka, and this sense of owning and connecting to the product not only attracted as many locals but also ensured their loyalty towards the product. Other than this, the Russian Brand also priced the product in a very appropriate way; the price was in support of its image as an exclusive brand. The vodka was priced more than other local brands, while still it was less expensive than the imported brands. This helped the Russian Standard Vodka to be recognized as an elite brand, in league with the imported brands; whilst at the same time it helped in gaining profits for the firm as well (Appendix 3) (Anselmsson, 2007). It mainly targeted the connoisseurs and strivers who preferred high quality products and prestigious brands. Moreover, the packaging of the Russian Standard Vodka was unique and fashionable. The exclusivity of the product and its other brand values was reflected by its packing. Attention was paid to every little detail of packaging of the vodka bottle; from bottle case to its cap and more importantly the shape of the bottle all were designed to emphasize on Tarikos objective of depiction of the Russian heritage and also ensure class and quality to the customers requirement and satisfaction. The packaging was designed by one of the top most design house, so that it would reflect the brands quality. The act of focusing on the packaging of a product was in itself something new for a business in Russia. Quality used to be the sole source of focus for a product, leaving the focus from pricing, packaging or the distribution channel, whereas, in modern marketing techniques, product, price, place, packaging and promotion make up the marketing mix for any product. Therefore, packaging was another on e of the major reasons for the Russian Standard vodka to acquire its brand meaning in the eyes of the consumers. Furthermore, the nostalgic touch to the packaging which reflected the value of the brand increased the brand meaning. The shape of the bottle resembled that of the traditional Russian orthodox churches, and there was a historical signature on the packaging as well.. This helped the consumers in establishing distinct brand imagery for the Russian Standard brand and relate to it. On the other hand, the strong distribution channel of the Russian Standard Brand also helped to setup its brand imagery. The Tarikos import business before the Russian Standard brand helped the new vodka to acquire advantaged shelf space as opposed to what it would have had in case Tariko had no prior reputation. Therefore, the beginning for the Russian Standard Vodkas placement in the market was privileged with supermarket promotions, access to prominent restaurants, clubs and bars. Brand Response The judgment and feelings of the consumers are the next building block. . This is basically the feelings and perceptions of the consumers about the brand (Keller, 2008). The brand judgment includes the brand quality, credibility, and differentiation. The quality includes the value or satisfaction the brand provides the consumers. The Russian Standard Vodka was trusted by the consumers for its quality. The advertised quality was supported by the actual quality of the product. The appropriate marketing mix helped the consumers to relate to the product. The idea of the campaign was to show a transformation from the previous Russian standards and the new ones. It was meant to create a modernized image in the minds of the consumers. However, this was not perceived as desired by many consumers. Most of the people thought of it as disrespectful to degrade Russian traditions no matter which era they belonged to and the message could not transfer to most people as well. So the campaign failed to communicate the intended premium image. It was designed for the international market but the response from the Russian market stopped it from being used abroad. It was not portraying the embracing the past and inspiring progress mantra the company was following. The feeling that was called upon by the advertisement within the consumers was such that they preferred using the Russian Standard Vodka as opposed to the imported brands. The brand acquired more appeal through its unique packaging and quality. The on-premise promotion on the other hand worked better for the company. It was promoted as a prestigious brand in restaurants and night clubs. The off-premise promotion was also carefully planned to portray its elegance by acquiring quality displays and shelves in the supermarkets. Brand Resonance The consumers in the modern times demand much more than just the functional benefits from a product. They demand intangible benefits such as image, status, personality, lifestyle, success and other factors that they can strongly relate to (Aziz and Yasin, 2010). The Russian Standard brand was one of the very first brands in Russia which used all these aspects into account when introducing its products in the market. Prior to this, quality and the product was the only consideration for the businesses. They believed in the supply making its own demand style of selling as opposed to the making a product in accordance to the demand of the people. However, the Russian Standard brand changed the traditional style of marketing and therefore was able to hugely benefit from rapid success in Russia. The Russian Standard brand used all the five Ps of the marketing mix to powerfully introduce itself in the market. From there onwards, it maintained its quality and built a solid name for itself by being consistent and innovative in promotion. The Russian Standard brand was able to establish a reputation which appealed to the consumers nationalistic sense. The idea was to create a strong consumer-brand relationship. Brand resonance can only be healthy if the consumers feel that they are in synchronization with the brands identity and values. Because of its patriotic look the brand was able to delve into the Russian market well. It was in complete harmony with the traditions of the Russian people. Therefore, from the analysis above, it can be said that the rapid success of the Russian Standard brand was not only because of the strong product quality they offered but also due to its right choice of marketing mix and most importantly its uphold with the Russian Identity. As the Roust Organization has already developed strong merchandizing and communication skills and relationships with the both kind of trades that is on-trade and off-trade, it was easy for the Russian Standards to be introduced to the consumers, but it was the Russian Standards strong conviction towards the brand equity that they become increasingly popular with the people and establish a certain kind of bond with them. It can be rightfully said that the success story of Russian Brand vodka emphasizes on all the aspects of the brand equity i.e. to establish brand salience and keep themselves intact with brand meaning to strengthen the bond with the customers keep counter check on the brand response and improve i ncase of any negativity and maintain the high standards, and last but not the least to provide brand resonance to the customers so they can feel pride in using the Russian Brand vodka. Thus it enjoyed rapid success and managed to maintain its position at the top, with these brand equity concepts followed it is today thought as to be one of the traditional Russian Souvenirs. Diversification Horizontal brand extension is one of the diversification strategies for the businesses. As can be seen in the Ansoffs matrix in appendix 2, when a firm increases its business into new products and markets, it is said to be diversifying its business. The benefits from diversification include, profitability, growth, reaping economies of scale if the diversification is within the same product range, avoiding dependence on a single product etc. Capitalizing on the equity of existing brands can produce many benefits for the company (Strach and Everret, 2006) even enhance the perception for the core brand (Aaker, 1991). There are two types of diversification strategies; concentric diversification or conglomerate diversification. Concentric diversification is the one where the product class remains the same. This strategy is to add related products or markets from that of the current line of business. On the other hand, conglomerate diversification is where the firm diversifies into areas that are unrelated to the current product range. Synergy Synergy is the ability of two or more instruments to work together to create something more than what they would have created separately. In a firms case, a synergy would be the extra benefit acquired by two different organizations working together, as opposed to what they would have acquired if they worked separately (Ellwood, 2002). In the Russian Standard brands case, the banking industry and the vodka industry are two unrelated industries. However, the Russian Standard brands aim to establish both these businesses under a single brand name could have been to benefit from synergies. This is possible if the bank and the vodka business together can give a stronger brand equity or profitability as opposed to their working as separate businesses under two different brand names (Aaker, 1991). Conglomerate Diversification: Benefits and Problems The possible motivations for conglomerate diversification include profitability, reducing firm specific risk, and limited growth in the current business along with other benefits of diversification in general. As observed by Martin and Sayrak (2001), the diversified organization may benefit from a larger tax liability than the initial business. Moreover, there may be other benefits from diversification such as risk from suppliers can be reduced, overhead costs can be distributed amongst a larger business (economies of scales), and the debt capacity may increase as well (Lewellen, 1971 as cited in Martin and Sayrak, 2001). Furthermore, the additional business can become a source of internal financing for the combined brand, which can considerably reduce the firms financing costs. This can be done by the management of the combined organization, by redistributing resources within the organization, where a larger amount of funds can be placed in the areas where there is potential of a hi gher gain than some other department (Stein, 1997 as cited in Martin and Sayrak, 2001). On the other hand, conglomerate diversification may create a number of problems for the existing firm. There are chances of administrative problems arising with an increase in the scale of operations (VanAuken, 2011). There can be managerial issues, i.e. an intensification of the principle-agent problem in an organization. Along with this, there can be an inadequate level of experience for the existing firm in the new industry. There may be requirements of the new industry that the current management is completely unaware of. New marketing mix, technical equipment, personnel and a lot more will be required for the new business which the current management may not be able to obtain. Support for and against Conglomerate Diversification In conglomerate diversification there are cases where the diversification has been extremely successful as well as cases where diversification was a source of loss in shareholders value in the initial business (Martin and Sayrak, 2001). Maksimovic and Philips (2002) in their research found out that conglomerate diversification reduces shareholder value, whereas in Martin and Sayraks (2001) work they have given a wide range of supporting as well as opposing arguments, without a significant conclusion as to whether conglomerate diversification is beneficial for the initial firm or it actually dilutes its initial shareholder value. However, it has to be noted that most of this literature is on merging or acquiring conglomerate businesses and not establishing a new business like the Russian Standard brand did. In case of the Russian Standard brand, (Grigorian, 2000) the bank was met with immediate success. Therefore, the success of the bank could be attributed to the existing brand name of the Russian Standard Vodka, but even if it was not because of that then there was definitely no dilution of the brand because of the conglomerate diversification. However, it may be difficult to measure in the Russian Standard brands case whether the success of the bank was because of the credibility of the brand or the right marketing mix for the bank itself. It can be the case that the bank may still have had the same success without the Russian Standard brands name associated to it, because the strategies to establish the bank were appropriate and the marketing mix was correct for the respective environment. This may be very much possible considering the fact that most of the people did not associate the Vodka and the Bank even with the same brand name; few customers made a clear link between the two businesses (Grigorian, 2000). Another aspect in this situation could also be the fact that the owner of the company, Roustam Tariko, had established much credibility for himself as well by being successful very early. His sense of strategic business thinking made him successful in creating a brand image of Russian Standard. The aim to meet international quality standards and improve the image of his country reflected well in his branding strategies. The Russian standard vodka and bank, though both were quite different in terms of relativity but as both were being run by Roust their relativity was somehow subsided by the credibility of the parent company (Ellwood, 2002). Both the brands were leveraging on the Russian Standards image. So the brand could very well diversify instead of considering to be diluted. Therefore, it can be said that even when the banking and vodka businesses are not compatible and few modern businesses actually go for conglomerate diversification, the Russian Standard brand was able to handle the two businesses well. As reputation (Ali, 2008) is one of the main factors that can affect the results of brand extension, the Russian Standard brand had a strong brand equity because of its vodka business which could very well afford to withstand any brand extension. Market Extension Another diversification strategy is to extend ones existing business into new markets. As can be seen in the Ansoff matrix (appendix 2), the market extension (Jewell, 2000) is when the existing product is introduced in some new market. This is another extension strategy that the Russian Standard brand was taking into consideration, i.e. extending its vodka into the US market. The benefits of market extension include profitability, an opportunity to reap economies of scale as the basic product will remain the same and growth of business and operations (VanAuken, 2011). Whereas, the market extension process may cause difficulties for the existing firm, because the new market may be completely different from what the firm has been working in initially. An in depth analysis of the potential market, information of the competitors and consumers, legal regulations, economic and social environment, all are required before the extension may be made. An entirely new marketing mix is required f or the same product for it to be introduced in a new market. If the product is launched in the new market with the same marketing mix, then the probability of its success may be reduced considerably. This is because, consumers in each market have distinct requirements and the social, economic and legal situation is also different from the existing market. Moreover, the potential market may already be saturated with competition, as is the case with the US market for Vodka (Sahani, 2008). The US market already has a number of well positioned, distinct local and foreign brands. Each of the brands available in the market is distinct in its own way, i.e. each has a specific segment of the market that it is very well catering to. Therefore, it can be said that introducing the Russian Standard Vodka in the US market is a difficult task, however with the quality product that it has, it may as well be successful to grasp a section of the market. In order to do this, a new marketing mix will be required for the Russian Standard Vodka to be successful in the US. The Russian Standard Vodka in the US market The Russian Standard Vodka was hugely successful in Russia not just because of its quality, but also its appeal to the nationalist sense in Russia along with its privileged distributional channels. These are the attributes of the Russian Standard Vodka that may not be present when the vodka is introduced in the US market. The US market which is todays largest consumer of vodka, is already very saturated in terms of premium vodka brands. The consumers will not be attracted to the brand merely because of its Russian origin, nor will the brand be able to acquire advantaged distribution channels (Sahani, 2008). Also considering the fact that the relationship between the two countries have always been on a verge of disagreements (Graham, 2008), this can act as creating a certain biasness for the origin of the brand. Based on the market analysis the super premium to premium segment already includes a lot of imported brands. For Russian Standard to create its space the super premium segment will have a benefit in terms of no competition from local brands, since the super premium segment only includes the imported variety. So if Russian Standard vodka changes its market strategy they can be noticeable in the US market. Change in the strategy will have to be emphasized in new and creative ideas of marketing and advertising, for this purpose it is very essential for the Russian Standard management to carefully study the US market, understand what the customers need and want, and what does the other vodka brands offer them, whether is there any loopholes or any gap between the customer requirement and brands offers and if Russian Standard vodka can overcome that gap. The American market is completely different from the Russian market, therefore Russian standard faces a great challenge in first capturing the attention of the American and consumers and then providing them with a better vodka than its competitors. The Russian Standard vodka can be launched in US market, but for a successful launching a lot of literature review and planning is required. From the discussion above it can be said easily that the Russian Standard will have to adapt to the US market to make their space. Many aspects of the Russian Standard vodka advertising and management campaign will plays vital role, among which pricing is the most crucial of all. The price should be appropriate enough to capture the attention of the Americans and maintain class as well. The quality of the Russian Brand vodka will ensure brand loyalty from the customers, but the real challenge is faced in actually making space in already so brand crowded market of the vodka in the US. The Russian Standard Vodka marketing mix for the US market will have to have a significant media campaign as well. This is because, all other competing brands in US have noteworthy amounts of money spent on advertisement, and are using user profiling (associating celebrities to add value to the brand) to their advantage. This is one place, where the Russian Standard Vodka will have to focus to establish a brand image that will appeal to the respective consumers. With the current scenario going pretty well for Russian Standard at home a global impact will add to the equity of the brand. As far as the image and global inconsistency is concerned in order to venture into a foreign market the characteristics must be understood. Since the US is a big market and the people are very accustomed to freedom and rationality Russian Standard will have to adapt to the culture in order to create the brand image (Deresky, 2006). This might impact global consistency of the brand but in order for it t o be associated exclusively to Russia the Russian Standard brand has to be put up as a brand for the elite. One the brand recognition will be spontaneous and second it will enjoy cost effective global positioning (Sahani, 2008). As the current situation of the brand is leading in the Russian Market the intervention in the US market will not be a wrong decision. Another aspect in consideration with the adaptation to the US market involves the brand name Russian standard itself (Deresky, 2006). This can have a positive as well as a negative impact while branding in US. The word Russian associates the Russian traditions with the brand. This can impact in the unique positioning in imported vodkas market. The name will give the product a Russian trait and the market does consist of people inspired more by brands with foreign attribute associated to them. However, the market also consists of people who can be biased in terms of foreign associations. Since Russia has been on major disagreement terms with US in history, some sort of biasness or stereotyping might result in the undermining of the brand (Graham, 2008). Launching Russian Standard Brand vodka in the United State would be challenging but not entirely an impossible job. With change in strategies and with new concepts of brand equity that will be according to the US markets, the Russian Standard Brand may be able to make their space in the strong world of vodka in the United States. Conclusion Therefore keeping these aspects in mind the venture into the US market can be risky at some points since it is the largest vodka market in the world. On the other hand it can also provide Russian Standard the global position it is looking for. It will add to the equity at home and in other markets it plans to venture into. The loyalty will increase and so will the company reap economies of scale by pricing it in the super premium market. References Aaker, A., David 1991, Managing brand equity: capitalizing on the value of brand name, New York, Maxwell Macmillan International. Ali, T. 2008, How Do Consumers Evaluate Brand- Extensions: A Five-Factor Approach, Routledge. Anselmsson, J., 2007, Understanding price premium for products: a conceptual model of customer based brand equity, Journal of Product Brand management, volume 16, issue 6, pp. 401-414, Emerald Group Publishing Ltd. Aziz, N. A., and Yasin, N. M., 2010, International Journal of Marketing Studies, volume 2, issue 2, Deresky, H., 2006, International Management: Managing Across Borders and Cultures, 5th Edition, Pearson Education Ltd. Ellwood, I., 2002, The essential brand book: over 100 techniques to increase brand value, Biddles Ltd. Graham, T., 2008, US-Russia Relations: Finding Reality Pragmatically, CSIS, Washington D.C. Grigorian, V., 2000. Russian Standard Vodka: Strategies for Global Branding and Expansion into the US Market INSEAD. Available at: [27 February 2011]. Jewell, B. R. 2000 An Integrated Approach to Business Studies, Pearson Education Limited. Keller, Lane K., 2008, Strategic Brand Management, third edition, Pearson Education Ltd. pp. 246-260. Maksimovic, V. and Phillips, G. 2002, Do Conglomerate Firms Allocate Resources Inefficiently Across Industries?

John Henry Newman’s Changing Attitude to Infallibility Essay -- Religio

Examine John Henry Newman’s changing attitude to Infallibility, between the end of Vatican 1 in 1870 and Gladstone’s attack in 1875. In this essay I propose to analyse Newman’s attitude to Infallibility during the period outlined above. I will examine his letters in particular to note the range of correspondents and the approaches taken. I will attempt to see a pattern in relation to his views expressed to mere enquirers writing to him, to national and professional writers seeking information or debating points and to family and friends in connection with the doctrine of Infallibility. Over this five-year period I will deduce from mainly primary sources, his views expressed on Infallibility and his developed reasoning and then present conclusions. Firstly a short historical background to Victorian Britain will set the context. Mid-Victorian Britain saw political reform as a main agenda. There was an established order of churches, characterised by denomination but more telling, by social class, and a defined place in society. The plight of the poor and the devastating effects of industrialisation were not uppermost in the church’s role. These views were being challenged with an increasing secularisation of society, by movements set up to reform and give more people a voice in government, and questioning the relevance of the church. The church played a role in e.g. the Christian Socialist Movement, set up as much to control and limit reform as it was to assist the poor. This was a time of expansion by the Catholic Church, since the re-establishment of the hierarch in 1850. Popular liberal attitudes questioned the loyalty of Catholics to the state and since the 1850’s newspapers and periodicals characterised this view as ... ...ring 1982), pp. 86–88. Rahner, K. ‘A Critique of Hans Kung’. Homiletic and Pastoral Review 71, May 1971, pp.10 – 26. Schatz, K. Papal Supremacy: From its Origins to the Present. Collegeville, MN: The Liturgical Press, 1996, pp.151-162. Strange, Roderick. John Henry Newman: A Mind Alive. London: Darton, Longman and Todd, 2008. Sugg, J. ed. A Packet of Letters: a selection of correspondence of John Henry Newman. Oxford: Oxford University Press, 1983. Tierney, B. Origins of Papal infallibility 1150 – 1350. (‘Studies in the History of Christian Thought’).Leiden: EJ Brill, 1972. Ward, W. William George Ward and the Catholic Revival. London: Longmans Green andCo.1893, p.274. Accessed 9 March 2014: https://archive.org/details/riwilliamgeorgeward. Wolfe, J. Religion in Victorian Britain: Culture and Empire. Manchester: The Open University Press, 1997.

Feminism Essay -- Rights Equality Gender Essays

Feminism Works Cited Missing   Ã‚  Ã‚  Ã‚  Ã‚  Feminism is the theory that men and women should be equal, politically, economically, and socially. There are many different types of feminism and each have a profound impact on someone’s view of society. The first is cultural feminism, which is the theory that there are fundamental personality differences between men and women, and that women’s differences are special. This theory supports the idea that there are biological differences between men and women and sexism can be overcome by embracing the â€Å"women’s way.† The second type is individualist or libertarian feminist. This feminism is based upon libertarian philosophies, with the focus on autonomy, rights, liberty, independence, and diversity. Next, there is the radical feminism; this theory began approximately during the 1967 – 1975. This ideology focuses on social change, and â€Å"attempts to draw lines between biologically – determined behavior and culturall y- determined behavior† in order to free both men and women as much as possible from their previous narrow gender roles. Finally, there is the Liberal Feminism, this theory focuses on the idea that all people are created equal and that education is the primary means to change discrimination. Groups in favor of this theory are the N.A.C. – the National Action Committee on the Status of Woman, an organization representing 500 feminist oriented women’s groups, and the N.O.W. – the National Organization of Women. Both of these organizations and Feminism as a whole are and have been influential on the national government.   Ã‚  Ã‚  Ã‚  Ã‚  Many political groups or ideologies attack feminist ideas. Zillah R. Einstein’s book, Feminism and Sexual Equality focuses on the importance of feminist theories and its attackers. The primary two political groups that have taken a stand against Feminism are â€Å"The New Right† and â€Å"Neoconservatives.† The New Right feels that the welfare state is undermining the â€Å"traditional patriarchal family.† The state has taken over certain family functions such as the health, welfare and education of its citizens. Jerry Falwell, supporter of the New Right and head of the Moral Majority, argues that â€Å"in order to revitalize the capitalist economy, and create a moral order, and strengthen America at home and abroad, policy makers must aim to reestablish the dominance of the traditional white patriarchal family... ...en. The women’s movement has been an important means to of empowerment to women. It is through organizing and joining women’s groups that many women have become aware of their oppression and have sought ways to gain control of their lives. Not only are women shunned from the workplace, but also many believe that they have no business in politics either.   Ã‚  Ã‚  Ã‚  Ã‚  In the book, The Women’s Movement, issues like women’s political participation and their membership to the workforce are discussed. Women have made critical improvements to their circumstances in life, be it there careers, political position, or even military involvement. Men primarily run the government that has authority over both males and females. Therefore it is necessary for the election of women into office to be the means of achiving the public policies that are consistent with the preferences of women (Gimlin, 1981). It is assumed that women office holders are better at representing women’s interests on a variety of issues, especially ones that directly affect women. Women are concerned with issues such as childcare, welfare, healthcare, and the care for the elderly. This is largely because women bear more of the

Metamorphosis – Paper

There can also be a positive side effect to being exiled â€Å"exile can become a potent, even enriching experience†. In the Metamorphosis, Gregory experiences a form of exile not in the way of not being able to go to his country but to his family and people. Franz Kafka wrote the metamorphosis that had a normal man named Gregory wake up one day and realize that he had been morphed or transformed into a sort of bug. Kafka describes even in the beginning of the story the setting of Gorge's room that only has a bed, blanket, and table.It shows how Gregory in a way was exiled from the world by only have an empty basic room which can show a negative effect on him because of his lack of creativity to fix his room. Because of his transformation Into the bug, which exiled him from humanity, gave him an effect of feeling hopeless about life for example â€Å"unfortunately there was little confident cheer to be had from a glance at the morning mist†¦. After the family figuring ou t about his transformation into a bug, they had exiled him not because of what he did but because they were afraid. They had locked him in his room and being exiled and locked in the room made him feel almost as if he was unwanted or even unbearable to look at â€Å"door were opened Just a tiny crack and quickly closed again†¦Ã¢â‚¬ ¦ Gregory waited in vain†¦Ã¢â‚¬ ¦ Keys were stuck in the locks on the outside. His emotions were running wild with him being exiled in his room â€Å"partly in a state of worry and murky hopes. † After being away from the human world he refers the world as â€Å"featureless wasteland†¦.. Indistinguishable. † Even though Kafka wrote the story s Gregory feeling exiled, he showed how the way he was treated was affecting him In a very negative way but was still able to Incorporate a positive effect from the whole experience of feeling exiled.After figuring out that he was transformed and even though he was scared he still tried t o embrace it â€Å"Gregory that it might be far more reasonable to leave him in peace at the moment†, gave him a sense to recollect himself. Before being exiled he was working as a salesman to help out his parents who had apparently a debt, but after being exiled he felt a sense of pride for helping is parents â€Å"he felt a great pride that he had been able to provide such a life. Another positive effect that came out to him being exiled would have to be him and his sister having a stronger closer relationship. He saw how much his sister had cared for him by even though he looked like a monstrous bug she still saw her brother inside of the being and took care of him. For example in the scene of when Gregory Is already locked up In his room, his sister still came In even though freaked out she still gave him food to eat and water to drink.This made Gregory feel better ND not be so Influenced by the situation at hand â€Å"so that Gregory would now know that he could make h imself as comfortable as he wished. † Since his parents had put affect him and his sister but as well as his father. It created a positive effect where even though the father was going through a tough time he still was able to bring something good out of it by stop drinking â€Å"sister often asked his father whether he wanted a beer†¦.. His father said a resounding â€Å"No†Ã¢â‚¬ ¦ † Kafka was very unique in the way that he wrote the Metamorphosis and showed his talent.You could say that he tried to prove Edward Sad's comments on how â€Å"exile can be terrible to experience and it can sometimes be an enriching experience. † We can also take from this stories example that it Just doesn't affect one person but it can also affect the people around the person in this case, Gorge's father and sister. We can pull out many meanings from the story and Gorge's experience but we see more of how alienating someone can become a positive or negative action but w ill no matter what have some sort of effect.