Culture’s will to copy Essay

Globalization process is viewed as a means through which one can ratify often in extremely idealized form a account of oneself or culture that is observed as old or even origin but can lastly be realized: through these new means, one can become what one thinks one actually is (even if one never was). What might be trait of the Internet is that this ‘realization’ is certainly ‘expansive’. Globalization process has an emancipator technology ‘Internet’ that is indefensible as the structural design of the technology harbors an instinctive class prejudice and other shades of power entitlements. Computers are intended and programmed by members of the elite culture and might imitate their cultural orientations and biases. For example, the wordsmith and semantic skills requisite to functions computers do not put up the cultural orientations of several marginal electorates. As Laikwan Pang, Cultural Control in journal said, â€Å"Culture’s will to copy †¦ [is] fuelled by the globalization process, which drives’ the world to desire similar but different products, to acquire similar but different tastes†. (Laikwan Pang, Cultural Control, p8). Globalization is as well redefining societies and restructuring society into new forms of social networks. New standards and terms for private and proficient relationships are promising (Buck 1996; Gates 1995; Baym 1995). The London Times (June 17, 1996) stated: â€Å"People in every kinds of career categories need to recognize how to use this tool so as to get ahead starting now. † Admittance to the information freeway might establish to be less a question of dispensation or position than one of the fundamental capability to function in a democratic society. Admittance to the cyberspace might very well establish how well people are knowledgeable, the type of job they ultimately get, and how they are retrained if they mislay their job, how much access they have to their government and how they will be taught about important issues concerning them and the country. (Ratan 1995: 25) Moreover, global media is not repressed by the intrinsic biases apparent in sexism, racism, and classism establish in face-to-face encounters. As a substitute, the global media presents a discussion that supports broad partaking and underlines merit over class. Practical communities permit secluded individuals to converse in a manner that protects them from the social prospect and sanctions linked with physically distinct communities (Turtle 1995). Virtual societies are unified and significant social aggregations that permit people to take on in adequate relations to form personal and group relations (Rheingold 1993). Global media represents Hollywood that spins around the analysis of Hollywood’s division of labor, what the authors call the â€Å"New International Division of Cultural Labor† (NICL). This division of labor is certainly international because U. S. film exports have reached $11 billion, and â€Å"Hollywood’s proportion of the world market is double what it was in 1990† (Miller et al. , 2001, pp. 4-5). Global sales have become so significant that in 2001 the studios take apart their international offices to run all global distribution from their headquarters. The authors argue that Hollywood’s command of the NICL distinguishes Hollywood from other industries that are increasingly globalizing. The entire book focuses on answering this question: â€Å"Is Hollywood really giving the people of the world what they want, or does it operate via a brutal form of monopoly-capitalist business practice? † (p. 15). Global Hollywood maintains that Hollywood’s global authority is due to the clout of its allocation, legal, and economic structures, as opposed to a combination of advantages resultant from the diversity of its domestic audience and its narrative transparency. As this argument has been frequently made by proponents of the cultural imperialism thesis, Miller and his colleagues take a fresh approach that focuses on what they call â€Å"occasionality† (p. 13), which is defined as â€Å"the specific `uptake’ of a text by a community† (p. 177). Amongst other innovations, the authors focus on the role of audience, and on the idea of rights, while bringing the significant issue of cultural hybridist to political economic analysis. In the short space of twenty five years somewhat which started as US defense inventiveness has developed into the major communications means for the academic and investigates community and most newly has prolonged into a main business tool for the marketable sector. The Internet has developed throughout this period from being a vigorous and effectual way of exchanging information to offering a delivery means for immense amounts of multimedia information to a global audience. While individuals began to use the global media for worldwide communication, its profound effect on how we treat information transfer, organization, and development could not have been anticipated. Internet communication applications permit rapid and simple copy, revision, and transfer of information in textual, visual, and auditory forms. Though the assortments of participants who access it do not all the time agree on whether information must be cosseted or shared, the majority of the Internet community uses, copies, and transfers the information there without restraint. The Internet is a medium for activating ideological consideration; World Wide Web (Web) documents holding multiple links to diverse authors’ sites as well as e-mail posts restraining various writers’ materials reify the theory that knowledge is raised from numerous sources. But commercial units that use the Internet to promote products and spend in the materials that they load to the Web desire to keep their digitized materials from copy, revision, and transfer. The corporal operation of the Internet forms a forum where oppositional views concerning control of information collide. The extreme nature of the Internet supports a clash between the constructionist ideology that symbolizes the academic humanist community and the Romantic beliefs that symbolizes traditional legal community. This junction amongst humanistic studies, the intellectual property law, and the Internet, joined with their attendant communities, engenders conflicts in thought and exploit and offers a generous basis from which to investigate intellectual property and information control. Though participants in humanist, legal, and global media communities retain varied ideological beliefs and goals, their common interests meet in forming and treating communicative terms, whether textual, digital, or auditory. More significant, these communities of participants, communally, through socially raised ideologies, contribute in creating approaches toward authorship, possession, and property, and eventually, in generating the power to form and manage knowledge. The dealings amongst these areas can be viewed practically and hypothetically. Globalization, therefore, can tell us diverse stories of the nation state, developing it are relationally and challenged internal and external boundaries. There would be few people concerned in globalization who would, as Green (1997:157) seems to propose, believe that ‘the nation state was disappearing’, even if it’s taken-for-granted status comes to be issued and attempts at self-reproduction become increasingly transparent. The spatial-temporal location of the nation-state is itself brought to the fore by globalization. Globalization is frequently taken to have a single course or logic that results in an augmented uniformity transversely the globe. However, despite the influential effects of international capital and international media corporations, this is not sustainable and is not the stance adopted here. To presume that globalization is about, or results in, homogenization is to abridge the processes at work and, in a sense, to distance oneself from the very composite effects on space, place and uniqueness that globalizing processes bring to the fore. As Giddens (1990) among others suggests, as globalization has resulted in the spread of ‘Western’ institutions across the globe, that very drift produces a pressure for local independence and identity. In other words, globalization is concerning examining places as concurrently traversed by the global and local in ways that have been strengthened by the modern compression of space and time. Thus, alongside the global accessibility of satellite television, McDonald’s and Arnold Schwarznegger films, there is the confirmation of, for instance, local, regional and ethnic identities. Certainly, some transnational companies have overtly adopted strategies of ‘globalization’, expanding their influence around the globe, as situating themselves and their products and services within the local conditions. These might be a response to global influences, but they are however part of globalization and not a refutation of it. What this suggests is that in modern times the local is as much a condition for globalization as the global; space and place are negotiated by the global-local nexus of globalizes space-time compressions. ‘Time-space distanciation, disembedding, and reflexivity mean that composite relationships develop between local activities and communication across distances’ (Waters 1995:50). The assimilation of the globe reconfigures rather than supersedes diversity. Globalization ‘does not essentially imply homogenization or integration. Globalization simply implies greater connectedness and de-territorialisation’ (Waters 1995:136). This problematisation argues that a particular Eurocentric culture can no longer be measured an ‘authentic, self-evident and true universal culture in which all the world’s people ought to believe’ (Lemert 1997:22)—a position which of course itself would not command universal acquiesce. The cultural renaissance resultant from decolonization is the new face of autonomy in international law. Old definitions of freedom focusing on ethnic separation and tight territorial boundaries are becoming ever more outdated. The most interesting and pioneering ideas concerning self-determination are presently being developed by indigenous peoples. Theoretical discussions of prejudice, identity, individuality and universalism might seem remote and incoherent from harsh realities. But these debates do reveal why human rights themselves can spell awful trouble for indigenous peoples. The effects of human rights, intellectual property, transformation and self-determination based on evidently ‘universal’ ideas of individuality and nationality can consequence in the death of indigenous communities. This is not a current phenomenon. It is the experience of colonization for too many people. And yet, international human rights discourse can also give a mechanism for anti-colonial struggles and the protection of indigenous rights, as the UN Working Group on Indigenous Populations would certainly support. Nowhere is the inconsistency of human rights, culture and individualism as explicit as it is with the rights of indigenous peoples. Moreover, the practical view offers questions and answers to the nuts and bolts of each day treatment of intellectual property power issues. Though interpretive in nature, the practical deportment is rule-based, centered in issues concerning the assortment of original works noted under the law and formative infringement of copyright. An extensive variety of individuals use and produce copyrighted materials in their daily work, often ignorant of the consequences of their actions for probable infringement of the work of others or infringement by others of their own work. Engineers, technical communicators, computer scientists, architects, scientists, and educators, among others who characterizes our diverse national workforce, use and turn out intellectual products such as manual, applications, progress reports, yearly reports, analytical reports, and other technical documents. They as well form non-textual informational materials such as photographs and hand drawn graphics, software, videos, and multimedia products. Additionally, numerous creators acquire information through the global media, together with digital communications such as e-mail and data blocks, as well as graphics, video clips, and sound bytes. Workplace inventors might not be conscious of the special category of law that restrains the rights in the work they turn out. Equally agency laws and the â€Å"work for hire† set of guidelines, which falls under copyright law, state writers’ rights to their work and treat questions explicit to employees. Educators, particularly, are facing ever more intricate questions concerning forming and using materials for teaching. besides creating workplace products, educators also develop materials for classes in the forms of instructor package that comprise works copied from anthologies and journals, handouts, tests, and instructional transparencies or websites that might be derived from sources formed by other instructors or authors in their fields. The legal argument over what is considered infringement in using these â€Å"course packets† is massive. Instructors might also covet to use materials acquired from the global media. The customary treatment of global media sources as â€Å"free use† forms fussy questions concerning what constitutes infringement in the digital ground. There is also enduring debate over the capability of a browser merely to access a World Wide Web site devoid of infringement. Several legal analysts indicate that the National Information Infrastructure’s White Paper comprises language that, if construed closely, would forbid admittance to intellectual property on the Internet although the same intellectual property would be available if it were in the shape of print media. For instance, a stringent interpretation of the National Information Infrastructure’s (NII) White Paper would forbid the mere act of opening a file and reading it on the Internet as the act of producing text in digitized form needs making a â€Å"copy† of the original work. Though the White Paper was formed in 1996, its protectionist stance echoed in legislative development of copyright protection, wherein the No Electronic Theft Act (1998) criminalizes copyright violation and the Sonny Bono Copyright Extension Act (1999) expands copyright protection for a further twenty years. In light of the more and more preventive treatment of copyrighted materials, instructors might be confused over whether they can make non-infringing uses of World Wide Web materials for classroom uses at all (Strong, William S. 1990). Increasingly, numerous instructors inquire students to copy and develop sources procured from the Internet, such as interactions from UseNet News, Internet Relay Chat, and MOOs, and graphics or text files that they can download from the World Wide Web. Though fair use does not converse directly to questions concerning the Internet, it still controls questions of infringement within educational settings. Courts should instigate to apply fair use to issues that are convoluted by use of technology to give new instruction, but until then, prospective litigants looking for answers to complex legal questions must gain a clear considerate of existing law as the best means to recognize its possible interpretation in cases treating issues concerning the Internet. We can say that with the increasing use of internet the issue of Copyright infringement is also become very common. â€Å"Infringement is a breach of the rights of a copyright holder by copying, performing, publishing, displaying, or creating a copied work from an expression protected under copyright† (Strong, William S. 1990). Infringement can take the form of a photocopy, scanned digitization, or other mechanically formed copy, but it can as well take place in videotape, audiotape, performance, or exhibit of a copyrighted work. Providing evidence infringement is at times a complex process, needing that the belligerent party first found a right to control the copyright of the work, then that he or she proves that the work has been infringed. Infringement is further hard to prove while the accused infringer has distorted the work to such a degree that it is hard to sustain the considerable similarity argument and while the initiative and the expression are so wholly merged that use of the idea, which is obtainable in public domain, is corresponding to use of the expression. A more widespread defense aligned a claim of infringement; however, is the scenes a faire principle, which argues that general means of expression of ideas cannot be infringement of another’s work. A typical example is the formal report format used in technical documents. In this case, the means of expression has turn so widespread to the business world’s cultural scaffold of understanding that its use summons connotative expression itself, much similar to a classification of â€Å"technical report. † Copyright infringement elevates legal issues for Internet service providers as well as other global media caught up in network management. The law emerges to be moving away from strict accountability toward a new typical of â€Å"actual knowledge† (Packard, 1998). In the Digital Millennium Copyright Act, ISPs are not legally responsible for copyright infringement if the bringer does not have definite knowledge that the material or an activity using the material on the system or network is infringing† (Copyright Law of the United States of America and Related Laws Contained in Title 17 of the United States Code, Circular 92 Pub. L. 105 – 304, Sec. 512 [c]). Though, upon attaining such knowledge or wakefulness, the provider should act expeditiously to eliminate, or hinder access to, the material†. This stipulation has free-expression insinuations. Copyright law is a moderately recent phenomenon based on the supposition that inspired intellectual property desires to be protected and rewarded (Packard, 1998). â€Å"By distinguishing that online services cannot scrutinize their content for infringing material and function professionally, Congress has given them a green light to expand to their full prospective† (p. 37). The copyright extension for elite ownership for ninety-five years, up from twenty-eight years in the original 1790 law, has been dared in court by Eldritch Press. Under the new law, the publisher would be requisite to eradicate work that has been in the public domain under the preceding limit of seventy-five years. The global media and its technologies have offered fertile view for the creation of new communication technologies. Inventors functioning on such troubles as digital compression as well as network data-transfer speeds need patent protection to be capable to expand new products. Information technology has also taken a diversity of patent suits as inventors extend the new industry. Lucent Technologies, for example, sued Cisco Systems and indicted it of infringing eight digital networking patents. Cisco then charged that Lucent violated three of its patents. Lucent holds thousands of patents on former Bell Lab and AT&T research operations, and analysts feared that the aggressive action by Lucent was threatening to smaller high-tech companies. Computer-chip giant Intel called a patent infringement action by TechSearch a nuisance lawsuit (Packard, 1998). As technology continues to become more multifaceted and consistent, patent disputes are probable to propagate. Generally, most patent cases do not have a substantive collision on free expression. Thus the main features of the global media regime are linked to infringement and intellectual property concerns. The strategy for these aspects of the establishment is the principle that the costs of Internet-related infrastructural development shall be borne mainly by the private sector and the standard those governments shall entrust themselves to economic liberalization, privatization, and regulatory programs dependable with this and other regime principles. As the utmost basis of legal conflict is that between authors’ and users’ rights, the most significant policy issue is cared for specifically in the Constitution’s intellectual property stipulation. The goal of the copyright act is to make sure free speech and the progression of knowledge through our legitimate protection of the right to distribute information. The unique constitutional provisions designate the intent to make sure the expansion of knowledge in civilization based in a congressional grant to authors of a partial monopoly of rights in their works: The fair use stipulation makes clear that the key goal of the statute is to support learning. These changes notwithstanding, the divergence between authors’ rights and the goal to encourage knowledge, inner to the copyright debate since its setting up, continues. Sadly, the public policy issue is frequently ignored in respect to concerns over economic interests. The everyday application of law essentially focuses on treating conflict between individuals. Lawyers are trained specially to congregate the needs of the legal system and are inexpensively supported by their work in this area. However the policy issues following the statute are really most significant to us as educators and to our society as a whole because those who manage the development of knowledge in a culture eventually establish who we are as a people. Philosophy and the goals that convoy it drive our view of policy issues. Thought determines how we view authorship, possession, and property and eventually affects not only how intellectual property law is proscribed but how information and communication that are inner to the dialogic processes within the nation are proscribed, as well as decisive who controls them. An assessment of ideological choices in request to intellectual property thus renders significant understanding of the probable effect of the law on our cultural future. Gaining a considerate of intellectual property issues is inner to understanding our rights as users and producers of knowledge. The actions we acquire to influence egalitarian access to information can have enduring ramifications for society, as authorship makes control, control generates authority, and authority generates power. We must take every step needed to ensure that the controlling voices of the few but authoritative are reasonable by the yet-unheard voices of the weaker multitudes. Reference: Baym N. K. 1995. The emergence of community in computer-mediated communication. In S. G. Jones, ed. , CyberSociety: Computer-Mediated Communication and Community. Thousand Oaks, Calif. : Sage Publications, pp. 13863. Buck K. 1996. Community organizing and the Internet. Neighborhood Works, 19, 2, p. 2. Copyright Law of the United States of America and Related Laws Contained in Title 17 of the United States Code, Circular 92 Pub. L. 105 – 304, Sec. 512 [c] Gates B. 1995. The Road Ahead. New York: Viking Giddens, A. (1990) The Consequences of Modernity, Cambridge: Polity Press. Green, A. (1997) Education, Globalisation and the Nation State, London: Macmillan. http://www. washingtonwatchdog. org/rtk/documents/cong_hearings/senate/107/senatehearing107_77094. html http://www/stephenking. com Laikwan Pang`s 2005 article `Copying Kill Bill` social Text, No. 83, 133-153. London Times, June 17, 1996. Packard A. (1998). â€Å"Infringement or impingement: Carving out an actual knowledge defense for sysops facing strict liability†, Journalism & Mass Communication Monographs, no. 168 (December). Ratan S. 1995. Time (spring):25-26. Rheingold H. 1993. The Virtual Community: Homesteading on the Electronic Frontier. Reading, Mass. : Addison-Wesley. Strong, William S. The Copyright Book: A Practical Guide. Cambridge: MIT P, 1990. Toby Miller et. al, 2001 `Hollywood`s Global Rights` in Toby Miller et. al. , Global

Consumer Buying Behavior for Life Insurance

Consumer buying behavior is nothing but their needs, which arouse them to buy. There is hierarchy of need from high level to low level. They initiate to buy their high level need after completed that they move for another need. Consumers 1st recognize their need or problem then gather information about that product. They get many alternatives regarding that product then they evaluate each and every criterion, which give them bundle of attribute towards that product. Now they choose among one of them to buy and they make decision to buy that product. There are some factors influence them to buy.These are cultural factor, social factor and demographic factors. ? Culture factors include their region, culture and their social classes, which is based on their education and occupation. ? Social factors include reference, groups and family, which influence them to buy according to their choice. People buy product according to its role and status. ? Demographic factors includes age group, pe rsonality, occupation, life style etc. people buy product according to under comes all these factors. Introduction Insurance has got its origin from the concept of Indemnity.Indemnity against to loss, it has occurred due to some unavoidable circumstances. To some, the concept of insurance has got its origin related to the uncertainty in the life. Uncertainty has been the integral part of everyone's life, be the uncertainty in terms of money, uncertainty in terms of life etc. Throughout the tenure every other individual's effort is directed towards avoiding this uncertainty. The concept of insurance has got its origin from this very effort of avoiding the uncertainty. Though it is not possible to avoid the uncertainty, it is highly possible to compensate the loss, which has occurredVIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 6 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY due to happening of this uncertainty. This compensation of unavoidable circumstances (uncertainty ), which has occurred, is known as Insurance. It is the pooling of funds by many to compensate the loss of few, whereby many individuals pool themselves together to create a fund in order to compensate the loss that has occurred to the few. Insurance as we know today can be traced to the Great Fire of London which, in 1666 AD, destroyed 13200 houses.In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, â€Å"The Fire Office†, to insure brick and frame homes. Gradually the concept of insurance came to be understood as a contract that offered the purchaser protection against the financial loss due to specific incident. Since the risk of financial loss was to be spread amongst the large group of people, the extent of financial loss, In the event of mishap occurred, became less devastating to the individual.Though the concept of insurance is old as history of mankind, back to some 6 000 years, it got its presence registered in India somewhere in 1818 with opening up of Oriental Life Insurance Company in Calcutta by Europeans. During those years Indians were considered as substandard and they were forced to give high premium on account of their low profile. However with the continuous effort of few eminent people Indians were later considered as of equal status and they were charged the normal rate, at par with the Europeans.This was majorly due to the establishment of first Indian life Insurance company, Bombay Mutual Life Assurance society in the year 1870. Later on the development of Indian life insurance industry was more fired by the patriotic sentiments and gave rise to number of Indian life insurance companies viz. United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were amongst those company which was formed to treat the Indian populace at par.With increase in the pressure from Indian intell ect, to give the Indian Insurance industry an organized structure, Government of India was forced to pass Life insurance Companies act, 1912 and Provident Fund act. But this was not the end to the suffering of Indian populace that even this act recognized the demarcation between the Europeans and Indian while charging the premium, then came the act of 1938 which not only governed the Life Insurance Industry but also had its spread VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 7 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY to the Non life Insurance Industry.With the increase in atrocities from all these companies, the demand to amend the prevailing act of 1938 assumed velocity. Thus in the year 1956 the act was passed as Life Insurance Corporation act, 1956 on 19th June, 1956 which called for nationalization of all the Insurance company working in India under one name as Life insurance corporation of India (hereafter LIC). Thus LIC was formed on 1st September 1956, wit h an objective to spread life insurance especially in rural areas as a mean to provide the protection cover to the life of Indian populace and as tool to help them in the time of financial need at a reasonable cost.Till 1999 LIC was the only life insurance player in Indian Life Insurance field, when government of India decided to amend the then prevailing act prohibiting the private life insurance player to enter the Indian market. It was Insurance Regulatory Authority, 1999 (IRA) that gave the freedom the private players to play in the field. But the basic motive for introducing such an act was not fulfilled as the amended act was meant for only regulation purpose only and not as a development tool and hence the act was further modified to add the element of development to the concept and thus came the current prevailing act i. . Insurance Regulatory and Development Authority (IRDA), 1999. It was further amended to incorporate the element of competitiveness. Thus Government of Indi a via IRDA permitted the private Life Insurance player also to enter the Indian field; and made some provision for foreign insurance companies that if they want to enter the Indian market they can do so but to the extent of 26 % of share only with any of Indian partner. Today almost 15 private life insurance companies are working India, some in wholly owned format and some as a joint venture with foreign company or with Indian company.Together they hold the market share of approx. 24 % in life insurance market. Still LIC holds the kingship with almost 76 % of market share. That's the good news for the LIC people on one part but on another aspect if we deal that shows the pace at which the private life insurance companies are moving, they are defiantly going to give the tough fight to LIC. The leadership lies not in getting the maximum out of market share but it is there somewhere in understanding the reason for the choice of one product over another one. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABADPage 8 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Consumer hierarchy of needIt is important to understand the relevance of human needs to buyer behavior remember, marketing is about satisfying needs). Need as a physiological or psychological deficiency a person feels the compulsion to safety, suggesting that need creates tension that can influence a person’s work attitudes and behavior. Customers set an order for their needs from high level – low level need. They prefer 1st, which is most essential for them, after completed that, they give privilege to next need.There are five needs exist in a hierarchy – Need- Physiological needs such as food, air, water, heat, and the basic necessities of survival need to be satisfied. Safety -Need for a secure environment, protection and stability in the events of day to day’s life, Such as life insurance. It make people tension free about any risk at their life. Society- At the third level we meet our social and belongingness needs i. e. we marry, or join groups of friends, etc. person paying tax according to their income, feels the social responsibility and acceptance by society as a good citizen.Life insurance is also a part of the social needs, which reduce the tax and also cover the risk with the attribution of facilities towards plans. Esteem- Esteem means that you achieve something that makes you recognized and gives personal satisfaction, example writing a book, investment for family obligation or have a pension plan for support at future, which arise self respect insight a person. Self actualization – Self actualization is achieved by few. Here a person is one of a small number to actually do something.For example, Neil Armstrong self-actualized as the first person to reach the Moon. The study of how and why people purchase goods and services is termed consumer buying behavior. The term covers the decision-making processes from those that precede the p urchase of goods or services to the final experience of using the product or service. Models of consumer VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 9 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY buying behavior draw together the various influences on, and the process of, the buying decision.They attempt to understand what happens within the consumer between his or her exposure to marketing stimuli and the actual decision to purchase. Characteristics of Indian consumer behavior The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world. Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market. Indian consumers have a high degree of family orientation.This orientation in fact, extends to the extended family and friends as well. Brands with identities that support family values tend to be popular and accep ted easily in the Indian market. Indian consumers are also associated with values of nurturing, care and affection. These values are far more dominant that values of ambition and achievement. Product which communicate feelings and emotions†¦ What is insurance? Insurance is a policy from a large financial institution that offers a person, company, or other entity reimbursement or financial protection against possible future losses or damages.The meaning of insurance is important to understand for anybody that is considering buying an insurance policy or simply understanding the basics of finance. Insurance is a hedging Instrument used as a precautionary measure against future contingent losses. This instrument is used for managing the possible risks of the future. What is life insurance? Life Insurance is the key to good financial planning. On one hand, it safeguards your money and on the other, ensures its growth, thus providing you with complete financial well being.Life Insur ance can be termed as an agreement between the policy owner and the insurer, where the insurer for a consideration agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness, critical illness or VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 10 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY maturity of the policy. Life insurance plans, unlike mutual funds, are beneficial when you look at them as a long term avenue of investment which also offers protection through life cover. Life insurance policies are broadly categorized into two Types- Traditional Plans ? Unit Linked Insurance Plans (ULIPs) Traditional planTraditional policies offer in-built guarantees and define maturity benefits through variety of products such as guaranteed maturity value. The investment risk in traditional life insurance policies is borne by life insurance companies. Additionally, the investment decisions are regulate d to a large extent by IRDA rules and regulations, ensuring stable returns with minimal risk. Investment income is distributed amongst the policy holders through annual bonus. These policies are ideal for policy holders who are not market savvy and do not wish to take investment risks.Term planTerm Insurance helps the customers in safeguarding their families from financial worries that rise due to unfortunate circumstances. Term plans are pure risk cover plans with or without maturity benefits. These pure risk plans cover your life at a nominal cost Term plans also let you avail the benefit to cover your outstanding debts like mortgage, home loan etc. In case of something happens to you, the financial burden is borne by the insurance company and not your loved ones. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 11 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICYTerm plan offers following benefits? High insurance Cover at lower costs ? Financial security against loans and mortgages, ? Single premium payment option available Whole life policy? As the name suggests, a Whole Life Policy is an insurance cover against death, irrespective of when it happens. ? Under this plan, the policyholder pays regular premiums until his death, following which the money is handed over to his family. Endowment policyCombining risk cover with financial savings, endowment policies is the most popular policies in the world of life insurance. In an Endowment Policy, the sum assured is payable even if the insured survives the policy term. ? If the insured dies during the tenure of the policy, the insurance firm has to pay the sum assured just as any other pure risk cover. ? A pure endowment policy is also a form of financial saving, whereby if the person covered remains alive beyond the tenure of the policy; he gets back the sum assured with some other investment benefits. In addition to the basic policy, insurers offer various benefits such as double endowment and marriage/ education endowment plans.The cost of such a policy is slightly higher but worth its value. Money back policy? These policies are structured to provide sums required as anticipated expenses (marriage, education etc) over a stipulated period of time. With inflation becoming a big issue, companies have realized that sometimes the money value of the policy is eroded. That is VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 12 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY why with-profit policies are also being introduced to offset some of the losses incurred on account of inflation. ?A portion of the sum assured is payable at regular intervals. On survival the remainder of the sum assured is payable. ? ? In case of death, the full sum assured is payable to the insured. The premium is payable for a particular period of time. Annuities and pensionIn an annuity, the insurer agrees to pay the insured a stipulated sum of money periodically. The purpose of an annuity is to protect against risk as well as provide money in the form of pension at regular intervals. Over the years, insurers have added various features to basic insurance policies in order to address specific needs of a cross section of people.ULIP planUnit linked insurance plan (ULIP) is life insurance solution that provides for the benefits of risk protection and flexibility in investment. The investment is denoted as units and is represented by the value that it has attained called as Net Asset Value (NAV). The policy value at any time varies according to the value of the underlying assets at the time. In a ULIP, the invested amount of the premiums after deducting for all the charges and premium for risk cover under all policies in a particular fund as chosen by the policy holders are pooled together to form a Unit fund.A Unit is the component of the Fund in a Unit Linked Insurance Policy. The returns in a ULIP depend upon the performance of the fund in the capital market. ULIP investors have t he option of investing across various schemes, i. e. , diversified equity funds, balanced funds, debt funds etc. It is important to remember that in a ULIP, the investment risk is generally borne by their investor. Life insurance companies in IndiaIn India, Insurance is a national matter, in which life and general insurance is yet a booming sector with huge possibilities for different global companies, as life insurance premiums ccount to 2. 5% and general insurance premiums account to 0. 65% of India's GDP. The Indian Insurance sector has gone through several phases and changes, especially after 1999, when the Govt. of VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 13 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY India opened up the insurance sector for private companies to solicit insurance, allowing FDI up to 26%. Since then, the Insurance sector in India is considered as a flourishing market amongst global insurance companies. However, the largest life insurance com pany in India is still owned by the government.Top 5 life insurance Company in India? Life Insurance Corporation of India (LIC): This remains the largest insurance company in India and is owned by the government. In 2008, LIC accounted for 64 percent market share. Although it is still the market leader, the company has to battle against the innovative strategies and better sales force of private enterprises. Life Insurance Corporation of India (LIC) registered an 83 per cent increase in new business income in March 2010, while private players posted a 47 per cent growth in new business premium. ICICI Prudential Life Insurance: This life insurance companies has attracted a loyal customer base with great customer support and a wide range of cheap policies to choose from. ? Bajaj Allianz general Insurance: This private company has been rising steadily in terms of market capture. It now sells the second most number of insurance policies in India after LIC and has been growing at a fast pace since 2006. ? Birla Sun Life Insurance: This Company has played its cards well. It offers a variety of insurance policies for the customers to choose from, provides them with attractive deals and offers great customer service and support.There is no reason why people shouldn’t prefer this one. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 14 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY ? SBI Life: Though a little slow on the marketing propaganda, SBI Life has been consistently growing in the Indian life insurance market because of good service and a great brand image. Consumer perception for life insurance – According to the need life insurance is the second need of people, because nobody knows about future. Life is suffering from full of risk and incidents. Nobody knows that what would be a financial condition in coming time.To be secure about future people are speedily holding insurance policy. Insurance is actually a protection against economic l oss, by sharing the risk with others. â€Å"Consumers need Life Insurance because typically the need for income continues for those who are financially dependent on them, but there is no guarantee of their ability to earn consistently and for the rest of their life. Life insurance can help them safeguard the financial needs of their family. This need has become even more important due to steady disintegration of the prevalent Joint family system and emergence of nuclear families.The need to protect their family's ever growing needs is why they need Life Insurance†. Consumer buying behavior for buying life insurance policyA consumer buying behavior starts from need/requirement for product, then evaluation about product and decide product, which gives better satisfaction then take decision for buying. ? Need- Need or requirement is a primary model for buying a life insurance. A need arouse people to act of buy. Different person have different purpose for buying life insurance s uch as: investment for future security or family obligation (children education, children marriage) or risk cover.If there are individuals who depend on you for financial support, or if you work at home providing your family with such services as child care, cooking, and cleaning, you need life insurance. Older couples also may need life insurance to protect a surviving spouse against the possibility of the couple's retirement savings being depleted by unexpected medical expenses. And individuals with substantial VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 15 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY assets may need life insurance to help reduce the effects of estate taxes or to transfer wealth to future generations. Information search- After recognize need, they search for limited amount of information regarding loyal companies, and its plan according to their desire. At the next level the person may enter an active information search: looking for regarding insu rance, phoning friend, go online, meet to salesman and advertisement are rich source to gather information. ? Evaluation of alternatives- Having information about many companies, they evaluate which company giving better plan according to their’ admire within the budget. Second they look for certain benefits from the policy and stability of company.Third customer see Each insurance as a bundle of attributes with varying abilities for delivering the benefit sought to satisfy their need such as: ? ? Face Value — The original death benefit amount. Convertibility — Option to convert from one type of policy to another (whole life), usually without a physical examination. ? ? ? ? Cash Value — The savings portion of a policy that can be borrowed against or cashed in. Premiums — Monthly, quarterly, or yearly payments required to maintain coverage. Beneficiary — The individual(s) or entity (trust) that is designated as benefit recipient.Paid Up †” A policy requiring no further premium payments due to prepayment or earnings. ? â€Å"Customers evaluate all positive and negative point of services according to importance and give preference to a better plan provided by company. † Purchase decision-. In the evaluation stage, customer form preference among the company, full filling their requirements. But there are few factors, which can divert consumer mind set. ? Other person can make them advice for another investment like: share market, bond, mutual fund and bank deposit or other alternatives. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 16CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY ? ? ? ? ? ? ? An unsatisfied policy holder can divert their mind. Customer is not getting a loyal salesperson. Customer is influenced by perceived risk for losing money. The policy is not giving up as ones expected. They attracted for other best investment. Ones may be a policy holder and not getting benefit as ones expec ted, so he is not getting decision for buy. Customer may be from rural area, he is not getting belief at company cause of conservative thinking. â€Å"If Customers get satisfaction struggling from these all factor, then they make decide for buy insurance policy. The Purchase Decision The purchase decision in general is prompt by number of factors viz. Psycho graphical, Economical, Social, Political legal and Demographical.The list is not exhaustive but it is sufficient to have the deep understanding of the factors influencing the decision. Psycho graphical Factors are those factors, which includes the behavioral aspect of the individual viz. lifestyle, living standard. Here purchase decision in influenced by those issues that affect the lifestyle of the consumer or in the other that reflects the status. For e. g. purchase decision related to buying of car and that to Mercedes Benz. Talking specifically to the insurance sector, here customer will buy only that policy that has got hi gh premium or that type of policy which company is promoting to limited high-income level group only. For e. g. â€Å"Classic Life premier† policy of Birla Sun life insurance is meant for only those individual who can pay at least Rs. 25000/- per annum. Economical factorEconomical factors affect the purchase decision by influencing the issues pertaining to money and income level of the individual.Consumer will buy only that product which will not have any VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 17 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY negative effect on his pocket. For e. g. decision to buy an insurance policy is influenced by the deepness in the pocket. Social factorSocial factor affect the purchase decision by influencing the issues pertaining to social beliefs and morals. Person influenced by group and their family members. They buy mostly same plan from same company whether their friends or family members have it.Some time if ones want to buy a new plan from other companies, their family member remorse them to buy it. Political factorsPolitico legal is the macro level environment. It effects in a way, say IRDA has restricted the sale of Key Man Insurance policy through Term Plan only. Demographic factorDemographical factor is that factor which has got the maximum of its effect in the purchase decision of the product and especially if that product is life insurance product. It is so because these factors incorporate other above said factors and includes those factors that can influence the buying decision to maximum extent viz.Occupational factor (service/business), Age factor, Gender, Marital status factor and Income level etc. It cannot be denied that buying decision of the individual who is unmarried and is into business, having the income level of the range Rs. 2. 4 lakhs per annum, is into the age group of say 25 years have the entirely different approach towards purchase of the life insurance policy with the individu al who is into service and is married, is into the age group of, say 35, and is earning Rs. 30000/- per month.Keeping the above phenomena under consideration a study was conducted to know exactly to what extent Demographical factor has got its influence in purchase decision of the life insurance product. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 18 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY The Study This study, which was conducted in the city of Bangarmau (Utter Pradesh), covered almost 50 individual of different status. The duration of the study was almost one month. The method which we used to collect the information was through questionnaire and personnel interview.The data so collected was grouped according to the company of the consumer's choice from where they have purchased the product and further it was analyzed that what was the demographic profile of that consumer and result was thus generalized. The study covered 50 individuals, of which 84 % were fo und insured and 16 % uninsured. Of the total insured 75% were from 21-45 age group and 25 % were from age group 46-60. It was 78 % of the male who was there in the total insured and rest 22% were female. Occupation wise 40 % of the total insured were into service and 60 % into business.Thus the overall penetration of companies in to the psyche of consumer buying preference (based on the customer's purchase of a company's life insurance policy) is given in the graph as under: Types of consumer- There are two kinds of customers according to their region? Urban customer? Rural customer- I did my research in rural area. It is my home town name is Bangarmau. I find that people having lack of knowledge and awareness about life insurance. Here insurance adviser playing a vital role to make them aware and convenience them for buying life insurance policy.In the exact word I can say that people don’t buy policy here, they buy belief of adviser. They buy it on the basis of reputation a nd loyalty of insurance adviser. Here customer do not worry about their security, they buy it as a investment, which should give them good return in very short of time. I find that if adviser does not push them for having life insurance, number of people would be very less to buy life insurance. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 19 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY The main factor is unawareness, that’s why they do not believe at Pvt Company.They have fear about lost their money, because they don’t know what IRDA is and what it is work. QuestionnairesI prepared 13 questionnaires to know about consumers’ perception for buying life insurance policy. 1-Whether you have life insurance policy? life insurance 50 40 30 20 10 0 yes No 8 yes No 42 2- As what purpose did you buy it? VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 20 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY policy holder investment family obligation sa ving tax 10% 19% 71% 3-If yes, which company life insurance you have? COMPANYNO. OF POLICY (x-8. 4) HOLDER (x) S. D. LIC SBI Reliance ICICI Bajaj 26 4 6 0 6 17. 6 -4. 4 -2. 4 -8. 4 -2. 4 9. 11 I did survey around 50 people at Bangarmau. I find that consumer mostly prefer LIC for life insurance. Actually it is a business town and people do not have enough knowledge about regulatory authority, that’s why they do not believe on other Pvt. companies. I got above 60% people have policy of LIC out of 42 policyholder. VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 21 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Three more Pvt.Insurance companies are providing service at Bangarmau, but consumers are less responsive for those companies, it is less than 40 % customer hold by these companies. Mean for all these customer towards company is 8. 4 and standard deviation is 9. 11. 4-What was the source of medium, you buy it? T. V. Insurance adviser Other 6 34 2 Here customer do not go at company to buy policy, they always need a agent to make them understand about the better plans and companies, which is good service responsiveness. Those people belong to the service sector, they influenced towards TV and other sources for buying policy -What is the feature of your policy attracted to you? Low premium High risk coverage Money back guarantee Reputation of company Agents convictions 2 2 12 3 23 VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABADPage 22 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Most of the policyholder in this region are businessman, they need only high growth of their money that’s why they maximum attracted by money back guarantee, but agent attracted them a lot. They make them understand better plans. Customer influenced by agents behavior and they believe upon company, what they suggest them. -Now you are satisfied with your policy? Satisfied Not satisfied Not respondent 36 4 2 7- People perception at appropriate age for buy ing life insurance policy? VIGNANA JYOTHI INSTITUTE OF MANAGEMENT, HYDERABAD Page 23 CONSUMER BUYING BEHAVIOR FOR LIFE INSURANCE POLICY Age No. (X) Mean Standard deviation < 25 year 25-34 35-44 45-54 55-64 65 above 3 15 12 5 5 2 0. 6 3 2. 4 1 1 0. 4 1. 07 5. 36 4. 29 1. 78 1. 76 0. 71 Customer belongs to 25 -45 maximum prefer the insurance policy sake of growth of money and saving the tax. People, who are less than 25 year are students,

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Starbucks Financial Analysis Author Axia College of University of Phoenix Starbucks Financial Analysis Starbucks Coffee originated in 1971 as a coffee and tea cafe opening in a small neighborhood of Seattle, Washington (Starbucks Corporation, 2010). Starbucks continued its service for Seattle residents for a decade when the new director of retail operations and marketing, Howard Shultz, decided to make some beneficial changes to the company. After two years of employment Howard Shultz decided to expand Starbucks outside of the Seattle area. In 1987 Starbucks was entering in the coffee market and the few numbers of Starbucks were now becoming a corporation (Starbucks Corporation, 2010). Fast forwarding to current times, Starbucks is now located across America and has branched out into international territory. Starbucks now ranges from selling coffees, teas, food, and coffee accessories to having its name brand coffees being sold in grocery stores. Statement of Earnings Starbucks Corporations 2009 fiscal year ended on September 28, 2009 (Starbucks Corporation, 2010). In comparison with the 2008 Statement of Earnings, Starbucks Corporation has experienced an increase in net earnings totaling $390 million in 2009 (Starbucks Corporation, 2010). This is still significantly lower than the 2007 net earnings of $672 million dropping $360 million over the course of one year. The company was however able to increase the cost of goods sold. Compared to the 2008 gross profit margin when Starbucks experienced a large increase, in 2009 Starbucks experienced a decline by 2. 25% (Starbucks Corporation, 2010). In the 2009 fiscal year the Statement of Earnings depicts a depreciation and amortization expenses decreased and operating income and operating margin decrease. The decrease in sales which Starbucks reported in 2008 is cause for the decrease in operating income and operating margin in the 2009 fiscal year. Since the 2008 fiscal year, 2009 has brought on a 4% decrease in the net profit margin for Starbucks (Starbucks Corporation, 2010). Balance Sheet In the 2009 fiscal year, Starbucks Corporation states a slight decrease in ash on hand though the net receivables show an increase. A comparison of the 2008 and 2009 inventory depicts a decline in 2009 that suggests Starbucks Corporation is not making inventory purchases prior to selling the current on-hand inventory. The current economic struggles have forced Starbucks Corporation to make some adjustments in the financial strengths of the company and close some coffee shops throughout the 2009 fiscal year, appearing as a decrease to the current assets of Starbucks Corporations. The decrease in the current assets and fixed assets of Starbucks Corporation the total assets for the 2009 fiscal year have increased by $300 million (Starbucks Corporation, 2010). Statement of Cash Flow The Statement of Cash Flow for the 2009 fiscal year depicts a $70 million decrease in cash flow (Starbucks Corporation, 2010). Starbucks Corporation did however increase its invested cash flow by $115 million in 2009 (Starbucks Corporation, 2010). An analysis of the Statement of Cash Flow for the 2009 fiscal year of Starbucks Corporation shows that Starbucks Corporation has been attempting to reduce its current operating expenses and cash flow. Ratio Comparisons Within the coffee industry Starbucks Corporations has grown from a small shop to a leading coffee distributor, proving to have financial strength and determination to continue growth. With the weakening economy the continued success of Starbucks Corporation is being threatened by the high cost of coffee and the decreased spending of consumers. Coffee is now being purchased based on cost, not quality. The financial strengths of Starbucks Corporation is being tested against its limits with the decline in premium coffee sales while Starbucks continues to push to stay on top of competition. Compared to competition in the coffee market Starbucks is displaying a higher debt to equity ratio of 0. 15 compared to the industry at 0. 13. Starbucks Corporation and the coffee industry competition remain similar at a 1. 5 current ratio for Starbucks and a 1. current ratio for the industry (MSN Money Market, 2010). The quick ratio within the coffee industry currently sits at 1. 3 while Starbucks Corporation holds strong at a 1. 2 quick ratio (MSN Money Central, 2010). Starbucks Corporation depicts a leverage ratio in comparison to the competition showing a 1. 7 leverage ratio for both Starbucks and the industry (MSN Money Central, 2010). Starbucks Corporation is also remaining steady with a lower than industry book value to share ratio o f 4. 95 compared to 6. 33 (MSN Money Central, 2010). Industry Comparison An industry analysis can provide Starbucks with a view on the competitive advantages the company has over companies with similar products. Through the analysis, Starbucks can develop an effective strategic plan. The benefits of the industry analysis include knowing â€Å"the underlying forces at work in the industry; the overall attractiveness of the industry, and the critical factors that determine the company’s success within the industry† (Encyclopedia for Business, 2010). A United States competitor of Starbucks is Peet’s Coffee and Tea. In 2010, Peet’s reported gross revenue of $168,494, drastically lower than that of Starbucks. Starbuck’s has the advantage of more locations and a lower per store operating cost of 63. 86 compared to Peet’s at 121. 83 per store. Starbuck’s has managed to run each Starbucks location at a fraction of the cost for Peet’s Coffee and Tea. Based on this information, it is apparent that Starbucks has a competitive advantage over Peet’s Coffee and Tea and continues to be a strong competitor in the industry. In conclusion, Starbucks Corporation has managed to remain financially strong regardless of the slight impact the struggling economy has had on the corporation. Success over competition remains to be on top and the current inventions of new and unique coffee, tea, and Starbucks environments has continued to result in the success of Starbucks Coffee not seen by other competitors. The growth and strengthening of the current economic situation will allow Starbucks Corporation to expand the financial growth and strengths of the company and continue to remain at the top of the market regardless of the lower cost and quality coffee sold by the competition. Starbucks Corporation offers unique goods and services which allows the company to remain ahead of the market. References Encyclopedia for Business. (2010). Industry Analysis. Retrieved from http://www. referenceforbusiness. com/small/Inc-Mail/Industry-Analysis. html MSN Money Central. (2010). Starbucks Corporation: Key Ratios. Retrieved on November 11, 2010 from http://moneycentral. msn. com/investor/invsub/results/compare. asp? Page=FinancialConditionSymbol=SBUX Starbucks Corporation. (2010). Fiscal 2009 Annual Report. Retrieved from http://media. corporate-ir. net/media_files/irol/99/99518/SBUX_AR. pdf Yahoo Finance. (2010). Peet’s Coffee Tea, Inc. Retrieved from http://finance. yahoo. com/q/is? s=PEET+Income+Statementannual

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Why Did Revolutions Break Out in Germany and Italy in 1848 Essay Example for Free

Why Did Revolutions Break Out in Germany and Italy in 1848 Essay The Spring of Nations, which consisted in the popular uprisings and revolutions that occurred in 1848, was caused by a series of factors which included social, economical and government crisis. Although these problems were serious and well eradicated, the major factor that caused these revolts was the rise of nationalist and liberalist ideas. When in 1845 a combination of massive crop failure in a mainly agricultural subsistence economy and a overproduction followed by an underconsumption of goods typical of the early industrialization led to a destructive economic crisis and recession. That year the potato blight, which was a vegetal desire that affected tubers such as potatoes, struck Europe making entire countries which their whole agriculture, since the Spanish brought the potatoes in Europe in the late 1400s, was based on the growth of this crop. Because of this disease, countries such as Ireland and Germany faced a great lack of food. The following year also a grain failure made the situation, if possible, even worse. This lack of food caused the prices of aliments to rise incredibly to the point where the daily pay of a factory worker wasnt enough to buy food to feed his family, of corse supposing that the factory worker didnt get fired because of the fall in demand of industrial products. With such an economical situation riots and acts of violence soon broke out. In 1846 the peasants in the Austrian provence of Galicia revolted against their landlords burning the documents regarding their feudal dues and attacking wealthy people. Similar hunger-driven acts of violence occurred in all of Europe. Soon the Austrian army put down the revolt but no actions were taken by the government to solve the problems that made it happen. The combined effect of a agricultural lesser production and the industrial overproduction affected negatively trade. Exports and imports dropped in all of Europe, even in the tax free zones such as the Zollverein where in three years the cotton exports dropped by 40%, and this angered greatly the people who controlled commerce at that time: the middle class. Although the middle class didnt start to riot straight away, this tension due to the economic losses will drive them towards liberal ideas and off from supporting the traditional government. After Napoleons definitive defeat in 1815, the liberals and the other carriers of the French revolutions ideas lost the hope to see reform brought out directly from the government. In a absolute monarchic Europe where these ideas were suppressed there was no space for political opposition because the governments outlawed any right of speech or press. Because of this repressive situation, secret societies started rising. Both nationalistic and liberalistic driven, these societies had the goal to promote reform and patriotism thus inspiring the people, especially the middle class, to revolt and embrace radical ideals. Major evidence of the popular will of independence and reform, was the burn ing of puppets which represented the leaders of the ancient regime. Particularly popular especially in the German Confederation, Italy and Hungary was the burning of puppets representing the maximum exponent of conservatism and reactionism: Prince Klemens von Metternich. The counter-liberalist policies carried out by the members of the holy alliance, Austria, Prussia and Russia, were ineffective. By censuring the press and removing the right of speech, the people didnt stop asking for change and reading about these ideas but they started to feel more repressed thus angering the people. Since the French revolution of 1789, Europe had been struck with innovative enlightened ideas such as the rights of man, the idea of universal suffrage (not including though women) and the idea of political liberalism. These ideas were mostly successful in the middle class which, over the past 250 years, became increasingly richer due to trade, banking and manufactory substituting de facto the nobility as most rich class. Although the middle class obtained economical power, the states offices were run by aristocrats and nobles appointed by the king. The middle class started growing resentment towards the monarchy and wanted their economical power to match their political power which, at the moment, they didnt have. Because of the repressive acts issued by the governments, especially the Austrian one, any kind of manifestation of liberal or nationalist ideas was to be punished (often with exile or prison), so secret societies started rising. These secret societies had the aim to promote liberalism and nationalism throughout actions against the governments. Mazzini, an italian radical, found Young Italy and Young Europe to promote the ideas spawned by the revolution. Although there were many secret societies, the most prominent was the italian Carbonari. The Carbonari were responsible and financed both the 1821 and 1848 uprisings in Italy. In conclusion all the factors that led to the Spring of Nations were important, especially the economic crisis and the famine because it angered the lower class making them too riot and revolt against the government, but without the nationalistic and liberal ideas that came along with the revolt made the difference. If it hasnt been for those ideals the Spring of Nations would have only been a mass of angry peasants rioting for the food shortages.

Music and Literature Essay Example for Free

Music and Literature Essay Music and literature have played an important role in our community and society since not only humans but the earth was born. It’s still a great mystery as to who invented or made music first. But first of all we shouldnt focus as to when was music made but should see that what actually music is? How to define music has long been the subject of debate; philosophers, musicians, and, more recently, various social and natural scientists have argued about what constitutes music. The definition has varied through history, in different regions, and within societies. Definitions vary as music, like art, is a subjectively perceived phenomenon. Its definition has been tackled by philosophers of art, lexicographers, composers, music critics, musicians, linguists, sociologists, and neurologists. Music may be defined according to various criteria including organization, pleasantness, intent, social construction, perceptual processes and engagement, universal aspects or family resemblances, and through contrast or negative definition. Music is sometime said to be a branch of literature. Now the question stands that what is literature? Literature is the body of all written works; the collected creative writing of a nation, people, group, or culture; all the papers, treatises, etc. published in academic journals on a particular subject. Its particularly hard to understand but in simple words literature means a piece of work written deeply form the or whatever your experiences and brain say and to put that experience and the work of brain into a piece of writing. Literature comes from the Latin word literra meaning a piece of writing. Literature has many branches like narrative stories, novels, poems and etc. Music is also a famous branch of literature. There are many music lovers found all over the world. Music is further separated into many other branches e.g. jazz, pop and etc. Music has been with us since the start of our beautiful earth.

Behavioural Effects on Buyer Purchasing Behaviour

Behavioural Effects on Buyer Purchasing Behaviour EVALUATING BEHAVIORAL FACTORS INFLUENCING CONSUMER’S PURCHASE OF CLOTHING AND ORNAMENTS Presented by Soumita De Shivam Sitoke Piyushi Chaudhary Pratiksha Wadekar Abstract This study evaluates behavioral components affecting buyer purchasing conduct of garments and adornments (Jewelry) in Pune, India. It was particularly carried out to analyze customer purchasing decision making process and survey social, financial and in addition individual components affecting purchasing behavior. Information for the study were assembled through structured questionnaire, on a sample of 120 buyers. The purpose behind this exploration is to inspect purchasers purchasing conduct and comprehend the key elements of brands which impact shoppers contribution towards in vogue marked apparel and stylish adornments. The socio-cultural elements are some of the crucial determinants of an individuals need and behavior. This paper extends comprehension of customer purchasing behavior identified with Indian environment and highlights the elements that exceedingly impact purchaser association in fashion. Introduction In addition to having speedier populace development, India in late decades has made striking financial increases, which have brought about changing societal view of the Indian purchasers. Thus, Indians have turned into a practical ethnic target business sector, Clothing area firms are contending to expand their benefit experience the business and among these organizations; branded attire has moved the traditional dressing enthusiasm of individuals. The Indian clothing business sector has showed growth and development in a sector described by moderate monetary development. The household clothing business, which was worth INR 207,400 crore (~USD 38 billion) starting 2012, is required to develop at a compound normal growth rate (CAGR) of 9% through the following decade. Further, the late exclusion of extract obligation on marked attire has given a driving force to retailers as far as the general business sector opinion. Development in Apparel Industry in India is expanding complex with the change in way of life, income and urbanization of the individuals. The overall customers are accepting the clothing style items created in India. AII has understood the tremendous potential to yield business in this section. The Indian purchasers are embracing stylish things rapidly and helpfully with the ascent in rivalry. The present study has been led to determine the data on the patterns of Apparel Industry in India through dissecting the present and future angles. The gems and Jewelery business is one of the biggest buyer divisions in the nation, bigger than telecom, cars and attire and maybe second just to the nourishment segment. Shoppers are more quality cognizant. The Indian adornments business sector is experiencing a slow transformation from unorganized to organized sector. In a short compass of time, sorted out retailers have effectively actualized a change in the purchasing example of the Indian buyers. This is obvious from the movement from the customary jewelery dealer to the jewelery specialist with a character. This shift obviously demonstrates a change in perspective of adornment as an item to brand Identification. Literature Review A paper named ‘Evaluation of Socio-Cultural Factors Influencing Consumer Buying Behaviour of Clothes in Borno State, Nigeria’ by Lawan A. Lawan and Ramat Zanna said that Socio-cultural variables made up of social, monetary, and instrumental variables are key components influencing buyer purchasing behavior, it is in this way presumed that socio-cultural elements, either acting autonomously or in conjunction with other individual or demographic components have huge impacts at every stage (need distinguishment, data pursuit, and assessment, support, and post buy conduct) of the purchaser garments purchasing decision making procedure. Having developed the idea from this paper, we try to test the how various buying behavior influence the consumption of an individual in Pune, India. A paper by Namrata Anand and Vandana Khetarpal from Haryana- India named â€Å"Growth of Apparel industry in India: Present and Future† India alternatively said that the span of both domestic and exports houses of Apparel Industry in India (AII) is anticipated to develop at a CAGR of 9.5% to reach $223 billion by 2021 from the $89 billion in 2011, as indicated by a white paper by industry body FICCI and research firm Technopak. Indias offer of the worlds clothing fares remains at 4.5%. It is evaluated that because of the expanding movement of clothing and material creation to Asian countries and the breaking down fare intensity of China, this figure will develop to 8% by 2020, with an aggregate fares estimation of $82 billion. This development, from 4.5 to 8% of world exchange, will open up immense potential for Indian players. According to Bureau of Indian Standards (BIS), the survey stated that most gold jewelery publicized in India as 22-carat was of a lesser quality. Over80% of the diamond setters sold gold adornments running from 13.5 carats to 18 carats as22-carat gold gems. The late 1990s saw various marked adornments players entering the Indian market. O ne can watch that there is gigantic extension for the development of marked gems. Despite the financial stoppage specialists accept that it will develop at a CAGR of 25%. A paper on â€Å"Purchasing Behavior of Women towards Ornaments: A Case Study of Bihpuria Town under Lakhimpur district, Assam† which focuses on the purchasing behavior of ornaments by women in Assam and the percentage of money spent on the ornaments from their total income. Empirical research on the influence of culture on consumer buying behaviour, conducted by Kacea and Lee revealed that there is a compelling and steady impact of society at both ethnicity level and the individual level. The study included that among numerous parts of buyer purchasing conduct which social components moderate incorporate character toward oneself, regularizing impacts, the concealment of feeling, and the post asphalt of moment satisfaction. Objective of the Study To study and comprehend the purchasing conduct of shoppers for branded and non-branded jewellery and clothing The study bails us to discover the contrast between discernment, feeling and conduct of branded and non-branded jewellery and clothing. This exploration provides for us a thought regarding the parameters, purchaser consider while purchasing garments or adornments and to know the level of information that the buyers have while purchasing. Methodology The region of study is the city of Pune, Maharashtra, India. Pune is said to be the social capital of the condition of Maharashtra. It embodies Marathi society, which lays accentuation on training, expressions and artworks, music, and theater. Pune society mirrors a mix of conventions with advancement, alongside facilitating established shows. Organized poll was utilized to inspire reactions on components impacting customer purchasing conduct. The populace for the study involved occupants from distinctive regions in Pune. The exploration utilized just essential wellsprings of information. Information acquired were subjected to illustrative measurements, chi square, T-Statistics and different relapse investigation utilizing a measurable bundle; GRETL and SPSS. Analysis and Interpretation The information acquired were investigated through program named Gretl and the outcomes were then interpreted. In this study as data collection system, questionnaire /survey was preferred to get target information. Questionnaire has been readied remembering the different human practices and it contained the accompanying questions: Do you like shopping around? Yes No Graph 1 How often do you go shopping? Sometimes Quite Often Regularly Never Graph 2 What tempts you to shop? Attractive advertisements Discounts Fashion Others Graph 3 When shopping, what do you look for? Value for money Good Quality Customer service Product image Others Graph 4 Do you prefer brands? Yes No Graph 5 If yes, which brand? (Clothing brand) If yes, which brand? Ornament brand (Jewellery) Where do you prefer to shop? Online Shopping Malls Market Exhibitions Others Graph 6 Why do you usually shop for Ornaments? For Festive Reasons For Occasions (Weddings, Birthdays) For Gifting Purpose For Investments Purpose For Re-sale Values For Daily Wear Graph 7 The Population Regression Function for Clothing is given by: Yi = ÃŽ ²1 + ÃŽ ²2X1i + ÃŽ ²3X2i + ÃŽ ²4X3i + ÃŽ ²5X4i + ÃŽ ²6X5i + ÃŽ ²7 X6i + ÃŽ ²8 X7i +Ui Where Yi is the dependent or the explained variable, the X’s are the independent or explanatory variables and Ui is the error term. Yi = Consumption Demand X1i = Age X2i = Shopping Intensity X3i = Shopping Frequency X4i = Shopping Temptation X5i = Shopping Requirements X6i = Shopping Brands X7i = Shopping Place ÃŽ ²1= Constant ÃŽ ²2= Coefficient of Shopping Intensity ÃŽ ²3 = Coefficient of Shopping Frequency ÃŽ ²4 = Coefficient of Shopping Temptation ÃŽ ²5 = Coefficient of Shopping Requirements ÃŽ ²6 = Coefficient of Shopping Brands ÃŽ ²7 = Coefficient of Shopping Place We have taken the period 1980-2011 for conducting our study Null Hypothesis: To test ÃŽ ²1 = ÃŽ ²2 = ÃŽ ²3 = ÃŽ ²4 = ÃŽ ²5 = ÃŽ ²6 = ÃŽ ²7 = ÃŽ ²8 = 0 Alternative Hypothesis: ÃŽ ²1 = ÃŽ ²2 = ÃŽ ²3 = ÃŽ ²4 = ÃŽ ²5 = ÃŽ ²6 = ÃŽ ²7 = ÃŽ ²8 ≠  0 After we run an OLS (Ordinary Least Squares) on the available data we get the following results as shown in Table 1. Table 1 Interpretation OLS regression analysis was employed to show the relative influences of variables like age, shopping intensity, shopping frequency, shopping temptation, shopping requirements, shopping brands, shopping place on consumer buying behavior of clothes in the state of Pune. The results indicates that when there is a rise in age by 1 unit, the Consumer demand rises by 0..47 units The result indicates that when there is a rise in shopping intensity by 1 unit, the Consumer demand falls by 4.76 units. The result indicates that when there is a rise in shopping frequency by 1 unit, the Consumer demand rises by 3.56 units. The result indicates that when there is a rise in shopping temptation by 1 unit, the Consumer demand rises by 0.963 units. The result indicates that when there is a rise in shopping requirements by 1 unit, the Consumer demand rises by 1.467 units. The result indicates that when there is a rise in shopping brands by 1 unit, the Consumer demand falls by 46.15 units. The result indicates that when there is a rise in shopping place by 1 unit, the Consumer demand falls by 1.724 units. From the survey and the noted results through the pie charts we can make the following interpretation on the buying behaviour of the consumers:- Shopping intensity shows a negative coefficient influence whereas shopping frequency shows a positive coefficient influence. Income of consumers have the most influences on consumer buying decision process due to the fact that low income earners may want to prioritize their spending to satisfy basic needs and high income earners concentrate more on their taste and preferences. As a result we see a negative coefficient influence with the consumer buying demand and the place of shopping. Consumers with higher income tend to choose places with brands and luxurious commodities as compared to people with lower income, who would choose to maximize their utility of consumption by minimizing the cost. Hence they may prefer to choose places where non-branded clothes are available too. Shopping temptation and requirements have a positive coefficient influence thus stating that when people are tempted by advertisements, their demand for consumption rises. Consumers shop according to their requirements which are a major factor determining consumer’s propensity to spend and the lower it is the higher the need to carefully share it among basic needs. Shopping brands seem to have a negative coefficient influence on the consumer demands proving that people prefer quality of product more than the brand name associated with it. Age was found to have great impacts on purchasing choice process as uncovered by the positive relapse coefficient impacts over the purchasing choice stages. This may most likely be because of our propensities to learn and adjust to methods for the general public as we go through our lifecycle stages, and especially on account of physical advancement, which influence the kind garments we purchase. Since we have cross Sectional data, there might be a presence of heteroscedaticity. In order to cure heteroscedasticity, we use the General White’s test and see the following result:- We take the null of homoscedasticity. The higher the P-Value, more we do not reject the null of homoscedasticity. In order to carry on with the research, we need a more fitted model . Graph 8 Fit of all the variables with Consumer Demand From the above graphs we see how well the consumer demand fits with the independent variables like age, shopping intensity, shopping frequency, shopping temptation, shopping brands, shopping requirements and shopping place. After we run an Chi-Square test on the available data on Ornaments (Jewellery) we get the following results as shown in Table 2, 3 and 4. Table 2 Table 3 Table 4 The study investigated that there is significance between consumer’s age and their choice of brands related to ornaments. We compute a chi-square test. The graphs and the Chi-Square test help us obtain an insight into the consumer’s behavior towards purchasing ornaments. The purchase can be made with respect to festivities, investment, marriages or gifts. The research shows that both male and female gender buys ornaments. We can thus conclude that female gender shows attraction towards jewellery mainly because of consumption but male gender purchases it for investment. Maximum female consumers are interested in the purchase of ornaments. The purpose/reason for purchase varies from consumer to consumer. Conclusion This examination adds to the comprehension of buyer purchasing conduct in the attire and adornment market. The significant discoveries of the study demonstrated that the general arrangement of autonomous/independent variables was weekly connected with the dependent variable. These examinations make it conceivable to find consumer choice making guidelines. The climbing economy has made Indian purchasers more wealthy. This study has concentrated on how the purchasing conduct of customers differs. In light of this study, we presumed that, individuals in Pune city have relevant learning about various brands of the Clothes and adornments. Information about garments and adornments vary in light of the age level. The demographic components like age, sexual orientation i.e., gender, capability, frequency and so on segregating the purchasing conduct of Clothes and Ornaments is in view of this study the mindfulness level of purchasers. The majority of the respondents have the important learning on the famous brands. Respondents are very little partial by retailers data. The criticalness of adornments in the nation is obvious from the way that on numerous promising events, jewellery forms a piece of blessings. Jewellery has not just been considered with the end goal of adoration, additionally as a security in times of contingency. This is on the grounds that it is regularly extravagant and can be sold at whatever point there is a critical need of cash. Thusly, jewellery additionally fill the need of protection, which can be relied on. Because of the hugeness gold holds in India, the Indians purchase gold much of the time for weddings, as well as on their adoring occasions. Buyer’s state of mind, attitude and conduct on adornments purchase in Pune City has assumed a huge role. References www.insikapub.com/Vol-01/No-03/07IJBAS(1)(3).pdf worldwidescience.org/topicpages/c/consumer+buying+behaviour.html mailer.oalib.net/paper/2690805 www.technopak.com/files/Indian_Apparel_Market.pdf www.citiindia.com/pdf/Harminder%20Sahni.pdf www.cmu.edu/diertrich/sde/docs/lowenstein/behavioraleconomics.pdf scholarship.law.cornell.edu/cgi/viewcontent.cgi nowandfuture.com/d2/behavioraleconomicsribe239.pdf www.eia.gov/analysis/studies/demand/economicbehavior/pdf/appendixa.pdf www.nber.org/papers/w7948.pdf Ncbi.nlm.nih.gov/plumed/16813142 BOOKS Handbook of Centerport Behavioral Economics, By Morris Altman Behavioral Economic comes of age, By Princeton University ________________________________________________________