Langston Hughes Salvation Essay Example for Free

Langston Hughes Salvation Essay In Langston Hughes’ essay â€Å"Salvation,† the author recounts how his failure to â€Å"see† Jesus and be outwardly saved results in a deeper, more stirring revelation: that only he and not Jesus can save his soul. Although Hughes devotes much of his essay to parodying the salvation experiences and apparent hypocrisy of other church members, and he tells us that the church building is stuffy, uncomfortable, hot and boring, he abruptly changes his tone at the end. When he describes how he cried in bed from guilt at having lied about his salvation, the reader realizes that Hughes has indeed undergone a powerful spiritual awakening: he has been saved from his own hypocrisy. Hughes starts off his essay using apparent irony by saying he â€Å"was saved from sin when [he] was going on thirteen. But not really saved. † (Hughes 351). This leads us to believe that he is cynical about Christianity, and we should not believe he is about to undergo any real spiritual transformation. When he describes having attended Auntie Reed’s Baptist church when he was not even thirteen years old, we get the impression that he is not responsible for taking the experience seriously. At that age, children are impressionable and naive about religion, which they may not understand, because it offers protection at a time when they are already protected and forgiven by their parents for errors they make, or â€Å"sinful† acts. Hughes gives the impression that he is being forced to go to church because of social expectations. He is strongly influenced by his friend Westley, who does not hide his real reason for getting baptized, which is to get out of that hot, stuffy church and get on with his adolescence. Westley tells Hughes â€Å"God damn! I’m tired o’ sitting here. Let’s get up and be saved! † Hughes (351). Westley’s ironic and comical interjection aptly sums up Hughes’ view of how the salvation process works in the mind of an adolescent: just do it and get it over with to make your elders happy, because it’s all a game anyway. It is only when Hughes’ aunt Reed comes and sobs at his side and is summoned by the minister that Hughes begins to break down Hughes (351). In paragraph 11, Hughes states: â€Å"Now it was really getting late. I began to be ashamed of myself, holding everything up so long. I began to wonder what God thought about Westley who certainly hadn’t seen Jesus either, but who was now sitting proudly on the platform†¦. So I decided that maybe to save further trouble, I’d better lie, too, and say that Jesus had come, and get up and be saved†¦. So I got up† Hughes (352). Here, Hughes discovers that the mere physical act of rising in response to his summons has begun to change him internally. He may not yet â€Å"see† Jesus, but he certainly sees and feels the effects of what he has done: â€Å"Suddenly the whole room broke into a sea of shouting, as they saw me rise. Waves of rejoicing swept the place. Women leaped in the air. My aunt threw her arms around me. The minister took me by the hand and led me to the platform†¦.. joyous singing filled the room. † Hughes (352). To Hughes, Jesus may as well be in the arms of his beloved aunt as in the â€Å"God damn† of his cocky pal Westley. He finds salvation in the spirit of the moment, and it feels good, if not a little confusing. Towards the end of the story in paragraph 15, Langston begins to notice what he has done wrong and feels emotionally distraught and full of neglect in his actions. He has fooled everyone into believing that he had found Jesus Christ. The only reason why he went up to the podium in the first place was to seek a way out sitting on the pews all day at church being told by the church elders, you’ll be damned if you don’t repent and be baptized! etc. Later on that night, Langston felt not only pressured into doing this but a sense of self actualization that he wanted to truly find Jesus, but in the end he ended up not only hurting himself, but the rest of his family for lying the whole time about his true feelings and the reason why he was in bed crying that whole night. Hughes writes, â€Å"I couldn’t bear the fact that I had lied, that I had deceived everybody in the church, and I hadn’t seen Jesus, and that now I didn’t believe there was a Jesus anymore, since he didn’t come help me,† Hughes (352). This passage provides a vivid explanation of his outlook on those around him and how he betrayed himself into lying for the sake of God. Hughes’ sadness and lack of faith came from those around him who kept on pressuring him to accept Jesus Christ into his heart. In the end, he appears to have turned away from God because he didn’t believe, rather he looked on the outside and not from within being only that he was twelve and naive. However, the fact that he undergoes such a transformation into self-doubt and remorse at having liednot just to himself and to everyone elsebut perhaps also to that notion of God as presented to him in Church. ] What Hughes sees as his own hypocrisy can also be interpreted as his own salvation: not from a traditional baptism of water and spirit and rebirth, but of his own tears of remorse as he realizes he has been baptized into adulthood and the burdens of truth and consequence that are inescapable for Langston Hughes’ Salvation.

Describe The Mandatory Rotation Of Audit Firm Accounting Essay

Describe The Mandatory Rotation Of Audit Firm Accounting Essay Introduction From the 2008 financial crisis, the weakness of audit system has exposed in several aspect. European Parliament and public consider that the auditors fail to play during the financial crisis. The European Commission said that the auditors only consider majority of banks had exposed a great quantity of loss from 2007 to 2009 in both on and off balance sheet in the financial crisis, however, it is a hard work for the public and stakeholders to know how the auditors to give the clean auditing reports to their principal. In addition, the European Commission takes into account preventing the concentration in the audit industry, which including restricting the choices and competition. Further, they also consider the independence of the audit firm and the reduction of the expectation gap. All things the European Commission do is to increase the quality of audit, so they think that the current auditing system should be reform. According to KPMG (2012), because of the failure of auditors in financial crisis, the lobby of small firms and the US has taken action on the independent issue. Meanwhile, in order to adapt to the environments, which contain changes to financial reporting and increasing the risk and going concern issue for the companies. The European Commission came up the proposals on 30th November 2011 to address the matters that appeal in the financial crisis and rebuild the confidence of the audit system. The proposals define the role of auditors and propose more restrict provisions for audit firms. It aim at strengthening the independence and professional skepticism of auditors, making the audit industry more diversification, enforcing the regulation, promote the cross-border stipulation of audit services and relieving the burden of the small and medium-size enterprise. To enhance the independence of audit firm and prevent the concentration of the audit industry is the main purpose of the propos als. The Elliott and Jacobson (1998) suggested that audit independence is an absence of interests that create an unacceptable risk of material bias with respect to the reliability of financial statements. The basic goal of audit is to assure the information which provide to shareholders are reliable. Further, as for audit independence, the direct role is to provide auditing serve and make the cost of capital market more efficiently. Consider about preventing the concentration, should make the audit industry more dynamic, such as decreasing the power of the Big Four audit firm (KPMG, Deloitte, Pricewaterhousecoopers and Ernst Young). In addition, the dynamic of audit market give the opportunities for small and medium-size enterprise to benefit from the internal market. In order to strengthen the independence of audit and make the audit market more dynamic, the European Commission brought up the proposals to perfect the audit system, the key elements of the proposals is mandatory rotation of audit firms, mandatory tendering, non-audit services, and European supervision of the audit sector, Enabling auditors to exercise their profession across Europe, Cutting red tape for smaller auditors. This essay is aim at discussing the issue of mandatory rotation of audit firm, one of the key elements to enhance the independence of audit industry. The essay will divided into three parts, firstly, it will describe the mandatory rotation of audit firms; secondly, it will analyses the argument for and against this issue; finally, it will come to a conclusion. Describe the mandatory rotation of audit firm In order to strengthen the auditor independence, the European Commission is considering introducing mandatory external rotation. In the previous years, only internal rotation is required, which means only auditors should be rotated, because they think that auditors may make less suggestions because the routine activities of audit. However, the internal rotation cannot enhance the independence of the auditors, because the audit firm and audited entity build up partnership, no matter which auditors engage in the audit procedure, they have closely relationship, the independence of auditors cannot be enhanced. Therefore, current environment has suggest that the internal rotation is not sufficient, the external rotation should be taken in account to achieve the independence of audit. The proposal required the audit firm should be rotated after at most six years (with some exception). In addition, it should be after at least four year before the same audit firm can be entrusted again by the client, this is stated as the cooling period. The cooling period ensure the mandatory rotation can be implemented effectively, because if there is not the cooling period, the client can entrust the same audit firm after a short time, so that the closely relationship cannot be avoidance. There is a exception that the period of rotation can be extend to nine years if joint audits are engaged. This means that if an audited entity entrust at least two audit firm, it can extent the period of rotation to nine years, because the joint audit can make each audit firm work harder to avoid another audit firm find out their failure, this can increase the quality of the audit, so called four-eye principle. Hence, the joint audit is encouraged. According to Bocconi, which do a survey of the effect of mandatory rotation in Italy. The investigate shows that 69 % of managers of listed companies approve of rotation. 14 % consider it negatively. The survey presents a positive result, because they consider that in previous years, auditors focus on routine activities rather than making improvement. The people including in the survey agree the mandatory rotation in Italy can strengthen the independence. Discussion of the mandatory rotation The argument for the mandatory rotation of audit firm Firstly, the mandatory rotation of audit firm can reduce the risk of familiarity threat. If there is not mandatory rotation, the audit firm may have closely relationship with the audited entity, which would lead to several problems. For instance, the proposal (2011) of the European commission suggests that the audit firm tend to know well about the management of the audited entity, so that they may think the audit work as a routine work, which just repeating the work annually, and they pay less attention to make an improvement and find out the mistake the audited entity made. In addition, the auditor may be less suspicious of the audited entity, instead, they may decrease the difficulties so as to maintain the good relationship with the partner. The long period of engagement will cause routine, which may affect the competence and the quality of audit, hence, the mandatory rotation is necessary for reducing the familiarity threat. Secondly, according to Hoyle (1978), short term engagement will encourage the auditors to do better. If the audit firm fails to make the improvement in their auditing period, however, the next audit firm detects the unreported information, the reputation of the previous audit firm may be affected, so that the auditor will minimize the errors for managing the reputation. Further, the mandatory rotation can avoid the mistake or unreported information continue, because the next audit firm will scrutinize the document provide by the former audit form. Also, the long term engagement of the same auditor may cause the auditor trust the previous auditing procedure, so the rotation can reduce the risk of the auditor regards the engagement as the repetition of the last years work. Therefore, the mandatory can improve the quality of audit. Thirdly, the rotation provide the small and medium-size entities good opportunity to enter the competition in the segment of market. Although, the Bocconi study (2002) showed that the mandatory rotation did not provide the small and medium-size entity opportunity to compete in the audit market, they cannot compete against the large audit firm for the public-interest entities. However, take the mandatory tendering into account, the situation can be changed, the rules allow the small and medium-size entity to bid in the tendering, so that the rotation and joint audit enlarge the choice of audit firm for the audited enterprise. Therefore, combined with the mandatory tendering, the mandatory rotation can encourage the competition of the audit firm and provide more opportunity for small and medium-size entity to enter the audit market. Last but not least, the rotation can reduce the risk of fraud, which the audited entity collude with the audit firm. If both of the audited entity and audit firm fraud the public, when rotation implement, the fraud will be exposed by the coming new audit firm. The scandal of Enron can give a good example of this, if the rotation enact, the deceptive accounting may be found early or the audit firm will not collude with Enron in order to prevent the impairment of the reputation. So the mandatory rotation can reduce the risk of fraud. The argument against the mandatory rotation of audit firm According to the Bocconi study (2002), the opinion the audit firms and managers argue is that the cost of auditing fees as well as man-hours will increase under the mandatory rotation. It takes time for the incoming audit firm to read the sufficient document to know the audited entitys business. If the incoming audit firm do not know the audited entity enough, the quality of audit will decrease. Further, because there are many kinds of industry, it is difficult to maintain the industry specialization and may cause lack of choice of audited entity. According to Chi et al. (2004), they do not agree the mandatory rotation, they hold the opinion that the rotation may have negative impact on the quality of audit. They show the explanation that in the last year of audit before the rotation, the auditors may abandon their independence because they do not need to worry about the loss of quasi rents for they will not be re-elected. These can lead to the decrease of the last periods auditing quality. Bigus and Zimmermann (2007) said that because of the rotation, the quasi rent had been decreased, which implies the rotation may not increase the independence of audit firm. Consequently, the mandatory rotation cannot increase the quality and independence of audit firm as expect. Conclusion When come up the new proposals, there will have different voice because of the different role they play. As for the rule of the mandatory rotation of audit firm, according to the European Commission, the Big Four hold the opposed attitude, they insist there is studies that have certify the mandatory rotation affect the quality of audit firm; the Mid Tier Firms and small and medium-size entities also do not stand by the rule, they consider the increase cost and harm to the quality of audit firm; the investors had divergent opinion; some of public authorities did not favor of the mandatory rotation, while others think the rule will be beneficial, one of the idea regards to the issue they came up it to allow the committee to decide whether the rotation of a firm should be needed. To sum up, the new rule of the mandatory rotation of audit firm may be beneficial, but only under certain situation. For example, the cost of fees and man-hours can be low to change audit firm; the negative impact of last period of audit before rotation can be avoid. So that, the proposal can be beneficial if more detail and rules can be add in to make the mandatory rotation more perfection.

Demand and Supply of Gold in India

Demand and Supply of Gold in India Demand is the relationship between price and quantity demanded for a particular goods and services in a particular circumstances . For each price the demand relationship tells the quantity the buyers wants to buy at that corresponding price . The quantity the buyer wants to buy at a particular price is called the Quantity Demanded. supply is the directly proportion of price when the price of the commodity is increased then the supply of that product also increase or visa- versa. ON THE BASIS OF GOLD COMMODITY:- In the relation of gold the demand cannot affected or doesnt matter of price, demand and supply because it is luxurious product and they always usable for functions and many of areas. The price of gold is increases demand then the demand and supply also occur in positive range. The term can be movable as follows:- When the price is increases then the demand and supply can movable in upward direction. When the price is decrease then then the demand and supply can change because the demand is high and supply will be decreases in range. The main concept is started from here to analyze the demand and supply of gold in India. The price is the main factors which can be changing whole style of product sale in the market but gold is a luxurious product and the price does not matter there they r directly based on the willingness to buy the products. This is analyze on the basis of previous data when the price is 17000 rs. In india and what about the demand and supply of the gold in market this will shown as follows:- It schedule is rougly showing to how the relation between price , demand and supply that will be arises on same direction this is only for gold product not for other . It is the concept demand curve is always downward slope and the supply curve move on upward . it means when the price of commodity is increase then demand is decrease and the supply is also increases but in that condition the demand and supply moved in same proportion . THE MAIN OBJECTIVE OF GOLD DEMAND AND SUPPLY ARE AS FOLLOWS:- When the price is automatically increased in year 2005 then the consumers are simultaneously struggling. In present time the market price of gold is 19,171 Rs. Per 10 gram , after hitting a record high of 19,257 rs. Earlier in next week. In the time of festiwal the price is increase then the consumer is struggling to buy but in small range capacity. Basically in the seassion of dhanteras , diwali the demand of gold is high and the consumer can buy without any price problem. BRIEF DISCRIPTION ABOUT HIGH PRICE CUT DEMAND:- This condition doesent seen in the gold market because when gold was a barbarious relic the gold price stood at just 12000 rs. In that condition the various changes are coming in the gold and silver market according to as follows:- A CHANGE IN THE NATURE OF THE GOLD INVESTORS JEWELRY At the turn of the century , the jwelery and industrial gold buyers , alongside rural , agicultural Indian demand, dominated the gold price. In a developed country the gold was not bought for itself and its importance. That condition the major role basically in jwelery, often the cheaper part of piece of jwelery. in that time the prices cannot rises in that much, in that condition the gold price is high .it means when the price of gold is high then the buyers are low. The buyers are still there, but they want in small volume or range due to high price of that commodity. In that condition the market are focuses in middle class person to increase the capability power and creat high growth INDIAN DEMAND When they targeted to middle class family to increase the demand in that level of customer mind to focuses in that level of customer. The market wants to increase the efficiency and they also aware that gold is traditionally valuable in india and they aeare that customer can easily brought due to the need and knows the condition of market. After that marketers can expect that the price of gold is higher then doesnt affect in that market strategy because it is the investment terms which is basically effort by Indian customers. They always analyse that when the price is high then it affect in supply terms. WESTERN JEWELRY , COIN AND BAR DEMAND According to the analyser to analyse that in tradition the gold market cheap jewelry basically invested in to coins and small bars is and they analyse to investing in that areas of Indian market.the Demand ofr gold is always protect the wealth andprotect the mony market loss to maintain and equal balance generated. The marketers also seen the quantity and quality of demand dropped initially, as jewellery demand always decline or down faced in the market but is now gathering pace and actually increasing on both fronts, especially if the marketer add the small coin and bar demand to it then the gold moves up the ladder of exclusively and expensive decorative items again higher quality gold jwelery demand (accepting high prices) is growing again. At the last the marketer seen that the demand of jwelery is always increases. And generated high efficiency in the market. 2. A WIDENING IN THE NUMBER AND SIZE OF GOLD INVESTORS GOLD EXCHANGE TRADED FUNDS The size of the market is high and large number of investors in the market and always want to increase the return in future trend. In the modern changes the market price of gold is always high but no effect in the consumption power they always choosen gold and buy for future trend because it always slope in downward. There are so many factors which changes the consumption and buying power of customers the main factors are as follows like income and price . the price of gold is simultaneously increases but demand is also movable in same directions. CENTRAL BANK The story of central banks and gold is a sad one. As both politicians strove to establish a doctrine that paper currencies, with no gold backing, better serve as money then gold does. By persuading people that central bankers were capable of being a satisfactory and the gold was a barbarous relic that had no place as money, they sanctioned dual policy of selling and sidelining gold as mony and accelerating the supply of gold to the point that the easy gold picking were exhausted . now central banks have had to revert to their underlying belief that gold is a vital reserve assts , particlurly when drems fade and realities take over . Higher price in their case have led to a cessation of sales and subsidential buying. SWITCHING FROM OTHER MARKETS TO THE GOLD MARKET As a gold and silver prices rise just like a thermometer measuring global financial uncertainity and instability , more and more investors are ntering these markets for the first time, not for profit . , but for protection against such fears and in an attempt to preserve the wealth they have. These investors come from the entire spectrum of investors across the length and breath of our world. This is the quintessential reason why demand for gold will rise as gold price rise. WHY ECONOMISTS USE ELASTICITY Elasticity means degree of level changes in the particular commodities is called elasticity But here, we are discussed about changes in the demand and supply of gold in demand and what are the various tools to find out the degree of demand of gold in india. THE BASIC USE OF ELASTICITY IN ECONOMISTS AS FOLLOWS:- Economist wants to compare gold demand all the times. Is gold demand more price sensitivity then silver demand . Is the supply of gold is equal. An elasticity is a unit- free measure. By comparing market using elasticity it does not matter how we measure the price or quantity in the Indian market. Elasticities allows to identify the differences among markets without standedizing the units of measurement. THE ELASTICITY OF DEMAND MEASURE BY AS FOLLOWS:- PRICE ELASTICITY OF DEMAND INCOME ELASTICITY OF DEMAND CROSS ELASTICITY OF DEMAND PRICE ELASTICITY OF DEMAND Degree of level changes by the price of commodity . the gold commodity is directly not affected in the demand because it is a luxurious goods. According to the gold the descriptions are as follows Gold price have been rising this year and this is the news that dominates in newspapers . The last time gold prices rise at such pace was in 1980. In fact gold price never touched the hights they had reached in 1980 and in fact were at their lowest in he year 1999. The first point is to be noted is that both gold and oil prices move in together . both were at their highest in 1980 and while oil has become far more expensive that it ever was , gold prices still not a very high compare to where they were in 1980. The prices are taking in high price adjusted for inflation and not the nominal prices that we see going up year after year. SECOND POINT to note is that gold prices elasticity is negative . Higher the price of gold, higher is the demand for gold. This is a unique feature of gold , as many other commodity whose prices go up sees lowering of demand . When prices rise the most that the demand is the highest, pushing up prices further. In the year 2007 , gold prices went up by nearly 20 % compared to price in 2006 . Demand for gold went up by nearly 5 % . when people say prices goes up , they normally tend to consume less of the good, including essential items like oil and petrol. The nominal price always stay above the previous price, therefore gold is never seen as a risky investment compare to real estate, the share market and the money market. Gold is a unique metal . it has been the most attractive metal for thousands of year. The roman empire and the Egyptian civilization were known to have used gold more then 2000 years ago. India is a growing primarly country because of income growth in the country leading to higher purchases of jwelery . When the recession subsides and the industry looks up and real estates prices rise again gold price should come down from the heights they occupy today. SO GOLD IS SAFE INVESTMENT ? THE ANSWER IS CLEARLY YES. AS gold prices do not come down in nominal terms . however as the economy improves and other forms of investment become attractive , the return on gold come down drastically and may sometimes in real terms become negative . however jewellery has a sentimental value attached to it too, therefore even when price come down , people remain proud of their gold purchases . Buying gold makes sense during the time the rest of the economy is receding, but when economic growth and industrial growth is handsome . like in india now, investing in gold might deliver the lowest returns that one could have obtained . however , this return is in all likelihood is risk free, therefore it makes sense for those who like to avoid risk . it is important to remember that usually higher the risk , higher is the rate of return for any investment. At last it is simply explain that the price of the commodity is increase then the gold is not affected because it is type of investments in the market and always given positive return . so it is future profit generated investments which is always given better and high return to the customers. THE MAIN ADVANTAGES OF THE GOLD AND NOT AFFECTED PRICE AS FOLLOWS:- THEY ALWAYS GIVEN POSITVE RETURN TO THE BUYERS IT IS THE INVESTMENT FOR FUTURE BENEFITS THEY ALWAYS GIVEN POSITIVE GROWTH PRICE IN THE MARKETS. THE PRICE CAN NOT AFFECT TO BUY THAT PRODUCT. INCOME ELASTICITY OF DEMAND As a persons income rises , he or she can buy more goods at a given price at any particular time . but the ability to buy more goods does not necessarily imply the willingness to do so . It means when then the consumers income is rises or dicreases then directly affected to consumption capacity. If the demand of the goods rises as income rises, then that good called a normal goods . Also the demand for the normal goods falls as income falls . the demand for a normal goods and incomes are directly related. The demand for a inferior goods income rises and good falls . the demand for an inferior goods and income are inversely affected. SOME IMPORTANT ASSPECTS WHICH AFFECT INCOME ELASTICITY OF DEMAND AS FOLLOWS:- PREFRENCES:- Peoples preferences affect the amount of good they are willing to buy at a particular price. A change in favour of goods shift the demand curve rightward. But in the gold commodity the income is doesent affected because the always show when the consumers income is rises thend the demand is also increases and visa versa because it is a investments which wa BENEFITTED FOR FUTURE. NUMBERS OF BUYERS:- The demand for a goods in a particular market is related to the number of buyers in the area . The more buyers, the higher demand , while the fewer buyers , the lower the demand . EXPECTATION OF FUTURE PRICE:- Buyers who expect the price of the goods to be higher next month may buy the good now thus increasing the current demand for that particular goods. Buyers who expect the price of the good to be lower next month may wait until next month. POPULATION :- Large no. Of buyers are in Indian market the customers and population are so high in Indian market . Examples:- india have created so much demanded for goods and services because of its massive population. ADVERTISING:- An increase in a firms effective advertising will be cause in demand for the product being advertise. For examples :- Indian have been buying gold for the last few years . however, there is no another addition cost are included in that luxurious good. CROSS ELASTICITY OF DEMAND It means when the price of the substitute commodity is increase then the other product is dicreases and visa versa . there is two commodities in iindia is silwer and gold . When the price of the silver is dicreases then the silver commodity is increases and gold price is dicreases then the demand of that commodity is increases. Now the bullion banker is net short gold when he conduct this operations . remember he borrowed gold and now he has a financial assets . he is making 5 % return on the spread , but he now has a gold price risk . as a banker he is not normally business of putting on speculative positions . so basically, in doing this operation but bullion bankers has a hedged the gold price and he takes a small margin- like a half of %- from this intermediation . in doing so , he allows private market participants to go short gold . thats why we elide the two phrases- going short in the gold market and gold borrowing . the ultimate borrowers in the gold leading operation are these shorts in the gold future and forward markets . Now we have a conservative set of gold leading number and we have a more aggressive set of such numbers . our range of estimates emplies that somewhere between 10000 and 16000 tonnes of the official sector gold position has left thse results way of leading the process . TABLE 1 : WHY OFFICIAL SUPPLY/DEMAND EXCEEDS MAJORITY OPINION ESTIMATES AN ARGUMENT FROM THE SUPPLY SIDE Total Gold Loans Outstanding  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚      BOE GFMS December 1993 4,750 1,600 June 1995 9,250 2,200 Note: All Quantities in Tonnes  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   This discrepancy was so large that tried to be conservative and for no good reason, chopped the 9000 tonnes down to 6000 tonnes because that 6000 tonnes figures was already so far removed from the official numbers . in any case , this bank survey implied big , big errors in the consensus supply/demand balances and half of a lot more gold lending than anyone thought . Now look , gold lending began in earnest in the early 1980. By 1995 it was a process that had been going on for more than ten years . now, what if there were 6000 tonnes of gold loans not 2000 tonnes of gold loans as implied by the consensus supply/demand statistics . that mean that there had been 4000 tonnes more lending , most of it over the last ten year period . gold lending was a small activity during the 1980 . it was a much bigger activity during the 1990, so obviously it was a business that was occurring on an increasing scale . if the discrepancy was 4000 tonnes over 10 to 15 years , 300 to 400 tonnes a year well , then it was probably 200 tonnes a year in the 1980 and it was probably nearer 600 tonnes a year by 1995. That mean supply and demand were underestimated by something like 600 tonnes a year . If we total these three demand items we arrive at the following:- Table 2 Metric Tonnes    1999 WGC gold demand for jewelry, bar and coin in 27 countries 3,282       GFMS gold jewelry demand in an additional 7 countries 1) 268       GFMS global demand in all other uses (excluding jewelry, bar and coin) 458       Incomplete Global Demand Subtotal 4,008 GFMS Global gold demand 3,9852) GFMS occasionally report and use demand . there survey for 1998 including the estimate used here . there was no comparable estimate in their 1999 report . the WGC reported a large increase in global gold demand in 1999. Base on wgc glbal demand for trend this number is probably conservation . GFMS total gold demand exceeds this total by 170 tonnes . they attributes demand to investigate in india . From the above it is clear that the WGC survey plus select additional item from the GFMS points to a total that exceeds GFMS estimation of global gold demand . this subtotal still excludes jwelery demand in more than 100 countries. It also excludes official coin and bar demand in these 100 or more countries as well as seven additional countries mentioned above. It is basically helps to understand the total demand and supply of gold in india and they are basically helpfull for searc what r the condition can not decrease the demand and supply of gold in the market. It always search and analyse the terms and conditions which help to easily find out survey of gold in india or many countries. ANALYSIS OF DEMAND AND SUPPLY OF GOLD IN INDIA The ever increase of demand and supply of gold in india , various hypothesis have been put forward from time to time:- Demand for gold has an autonomous character. Supply follows demand. Demand exhidits income elasticity , particlurly in the rural and semi- urban areas. Price differential cretes import demand , particlurly illegal import prior to the commencement of liberalisation in 1990. A part of the demand is caused by the need to stash away uncounted wealth and income. Gold trades figures since the onset of liberalisation in 1990 shows that while the price differential narrowed from a high of around 53.1 % in 1991 to about 5-10 % currently the import volumes rise unabated. Gold demand in india increased by an annual compound rate of around 15 % from 1990 to 1998 during the period of liberalisation with growth slowing thereafter. This was high , not only visa- versa the world demand growth rate of 3.05 % but also in relation to the trend Indian . GDP growth rate is 5.5 % and Growth rate demand for oil is 3.8 % Energy and sugar is 6 and 5 % Gold imported officially for domestic use is now channelled almost exclusive via the official agents or the authorisd commercial banks. Some aspects which helps to anlyze the gold demand and supply in india.:- FUTURE TRENDS :- What is likely demand trnd for the future? Given the fact that gold demand is income-elastic, it would be safe to assume that demand will increase over the next decades. Since gifting jwelery at the time of marriage constitute the major components of demand, ball-park estimated could be on the basis of the no. Of marriage that takes place actually. On the basis of assumption around 8 million marriage r held in india per year. Gold is required for marriage by families of different income groups. GOLD MARKET IN INDIA:- The gold market in india is predominantly a market for buying and selling physical gold. In the whole sale segment, nominated agencies are the bulk importers. This market is resonabily efficient from the point of view of distribution of bars and scraps over the length of the country which takes place in a very efficient manner. Price manner is also generally observe in areas with identifical of duties and taxes. Gold leasing volume are small in comparision of physical buying and selling. Most of leasing activities taken by nominated banks on a back to back basis via supply from overseas. The market needs to develop for at leat two reasons:- To provide working capital at low cost together with gold price leading,not only to the exporter but also to jwelery manufacture for the domestic market. The existence of gold leading market is pre-condition for arbitrage free pricing of gold forward in the local market. ISSUE FOR THE FUTURE :- It would only be logical to assume that the neeed for a review of the overall policy stance with regards to gold is now being increasingly felt in official circles. As with other areas of liberalisation , the direction of change will certainly be positive, although it would be difficult to imagine any specific time frame. However the following issue are like to be the focus of policy.:- Strengthening of the infrastructures and market in physical gold. More assaying, refining and recycling capacities of international standard and accreditation are expected. Better protection for consumers, by way of the spread of hallmarking of jawelery. The emphesis will continue to be on more self regulation by jewellery manufacturing and retailers. Further liberalisation the gold import is live issue. Removal of all the remaining restriction on gold imports has been advocated by many of following groups:- Trade liberalisation for gold is a pre requisite for financial liberalisation. There is no specific advantage in restricting gold imports to the select no. Of nominated agencies. If gold is imported farely under full fiscal benefits will accure to more deregulation of gold in india. Going by Turkish example, free imports under OGL and free export are pre condition for establishing a foothold in the world jawelery market . REGULATION IN PHYSICAL AND FINANCIAL MARKETS IN GOLD IS ANOTHER MAJOR ISSUE:- Regulation in general means formulation of norms by the regulatory for : a. Risk assessment and control the regulated institution. B. Investors protections. 5. BRINGING THE GOLD HELD BY THE PRIVATE SECTOR IN TO THE ECONOMIC MAINSTREAM HAS RIGHTLY BEEN AN OBJECTIVE THROUGHOUT:- Mobilization of gold by the gout. In the past did not yield any major long term benefit. Any government led mobolization has inherent disadvantages. A better alternative would be allow holders of gold to raise capital from the banking system by way of pledge. It would be inconsistent with the spirit of liberalization to discriminate against those who saved in gold in past. A machenism can be evolved where by banks leading in deregulation of gold in india. 6. IT DEVELOPED OF E- MAONEY :- It is possible that a private sector units of account that is linked to gold may come in to existence in india, given the fact of huge private sector gold stocks. It would be advantages to look in to this possible. 7. GOLD HAVE ANY OFFICIAL MONETERY ROLE LEFT IN INDIA:- Golds role in currency issue was braught to a level of insignificance in india. There is good evidence to support the view that gold is held as an inflation hadged in india. BRIEF DISCRIPTION ABOUT ANALYSIS OF DEMAND AND SUPPLY OF GOLD IN INDIA Demand for gold is likely to contain information regarding inflation expectations. Since monitory policy is reflected in the growth of money stock and ultimately the rate of inflation, there is a case for including gold in the monetory calculus. It need to analyse the advantages in including gold held by the private sector in the broad measure for liquidity, even though gold is not anybodys liabilities. Also gold could be included in the index for the real effective exchange rate for rupees. They also indicate that :- Other thing be equal. Gold import demand has real effective exchange rate of the rupees. This is the analyse function where we analyse how to demand and supply of gold commodity can run in the market and whoch factors affect to ush the demand and supply of gold in equal range. This is the chart which are showing consumption n different year and we aware that the consumption of gold in india and where they affect. supply and demand table CONCLUSION In that demand and supply of gold in india we analyse and learn that official sellin will fill the boots ot trend following speculation in the gold market and the gold price will fall back towards its prior trading range. The global recession and strong dollar which curb gold , jewellery and bar demand have been facilitating the ability of the official sector to keep the gold price low. The forces for higher gold price will build. Though it may not happen over the short run in the long run the dollar will fall- and substantially in our view. A dollar decline will lower than the price of gold in countries outside, which will in turn stimulate price elastic demand. The fear of weakness may also shift official sector attitudes towards holding gold as a reserve asset relative to the currency. Many central bank feels uncomfortable with the now higher share of currency in their official reserves. The huge and ever increasing internal debt of india growing prospects of inflations. The central bank has started objective of reducing its high reserve holding of money, and it may be noteworthy that they have reported the first rise in central bank gold holding in many years. As long as currency has holding remained strong, central bank have felt no pressing need to address their high mony holding, but an eventual reserval in the money exchange rate may change the perception. The supply will also lift the gold price. Over the last 4 year , the supply despite low prices because there was a pipeline project from the 1994-96 period of higher gold price the pipline has now been almost depleted. In addition high grade to improve cash flow at low gold price. High grading increase output over the near term but ultimately reduces overall life of mine output and brings forward in time depletion dynamics. At last it shows that the price of the gold is increase or dicreases then it doesent affect on the demand and supply of commodity because it is the investment which provide always benefit to the customers, due to previous record which was explain in previous topic and cover that price cant affect on demand and supply of gold in india or any country.

Parapsychology :: science

Parapsychology Derived from the term 'paranormal', parapsychology is the science that lies beside or beyond psychology; the field of psychology which studies those unique experiences and unknown capabilities of the human mind that suggest consciousness is capable of interacting with the physical world in ways not yet recognized by science, but not beyond science's ability to investigate. Two types of parapsychological phenomena have been described. The first and less common is pyschokinesis (PK) which is the direct influence of the human mind on the environment. In rare cases, this may involve obvious movement of objects, however most contemporary research studies PK influences on atomic or electronic processes. More commonly known is the second type of parapsychological phenomena, called extrasensory perception (ESP), which is the ability to acquire information without using the known senses. In cases when another person is involved, then it may be considered telepathy, or mind-to-mind communication. This is often common in twins, as many instance have been reported in which one twin can sense the other's thoughts or pain. When it is knowledge of just a distant place or event, then the term clairvoyance is often used. It is mainly this type of ESP which leads people to feel strongly about the existence of past lives, due to experience of deja-vous. In practice, it is often difficult to distinguish among types of ESP, thus investigators generally refer to all instances as ESP. When the information seems to be of some future event, it is called precognition. This category of ESP is also what makes fortune tellers so popular, as they claim to be able to see your future. Real life experiences that appear to involve ESP are commonly termed psychic experiences. Taken together, all of these phenomena are often called psi phenomena. Scientific interest in the subject is of relatively recent origin, beginning in 1927 when the Duke University Parapsychology Laboratory was set up under Dr. J. B. Rhine, an important figure in the advancement of parapsychology, particularly ESP. Dr. J. B. Rhine and his wife, Dr. Louisa E. Rhine, came to Duke University in 1927 to pursue studies of psychic phenomena with Professor William McDougall, chairman of the new Psychology Department. Within a few years, Dr. Rhine was conducting the groundbreaking research that demonstrated certain people had the ability to acquire information without the use of the known senses. He introduced the term extrasensory perception describe this ability and adopted the word parapsychology to distinguish his experimental approach from earlier methods of psychical research.

Essay --

For D.D. Williamson the clear-cut blend of projects in a portfolio can signify the distinction involving organizational development and expensive setbacks. By strategically prioritizing projects, the company can capitalize on how it can move forward with major projects and properly assign resources that make certain only those projects that best line up with company’s vision makes the cut. Since reactions to the projects often ran high when making these kinds of decisions the idea of a structured senior management team to work through criteria selection process that allowed them to pick two project per senior management sponsor (Kloppenborg, 2012). This achieved the results the company was looking for and providing another strength in the company minimizing weakness. One tool used by the management team is a prioritization matrix it provided a way for the team to group an assorted set of items into an order of importance. It also recognizes their qualified importance by developing a numerical assessment for the priority of each item (Gosenheimer, 2012). Using a prioritization matrix...

DDT and Ethics Essay

Introduction Paul Muller, a Swiss chemist and Nobel Prize winner was the one who discovered the DDT which was found to be very effective as a pesticide. In the 40s it was used in the agriculture sector to help kill crop-eating insects. From 1942 onwards it started being commercialized with big companies such as the Montrose Chemical Corporation at the frontline of this pioneering product. At first, the product proved to be quite a sensation drastically reducing the amount of malaria resulting in saving many lives. It also had a huge impact in agriculture with its effective control on pests. Later on there were reports of DDT being harmful to the environment, people and animals. In fact, there was a book that was published by Rachel Carson entitled â€Å"Silent Spring† that outlined the dangers of the DDT. A year after the book was published, President John F Kennedy ordered a committee to investigate the book’s veracity and it was found to be accurate and that persistent toxic pesti cides should be phased out as soon as possible. What followed was DDT being banned from the public by government decree after conclusive research of how dangerous it is to the environment. The product was however still sold to other countries outside of the US for some time before some of the countries themselves decided to ban it. The purpose of this report is to explore ethical issues and philosophies brought forth by some of the world’s ethicists and philosophers in an effort to advocate for the ban of DDT. Violation of Ethical Standards in manufacturing and selling DDT Any manufacturing business should have a code of ethics that should me more than just a set of rules set for its employees. It should go beyond the organization and be a set of rules that protects all its stakeholders and most importantly they must be enforceable. The Montrose Chemical Corporation did violate some of the ethical standards in the manufacturing and selling of DDT to the public as the case may suggest. It is evident in the case that the DDT has brought about many problems such as toxicity to some animals, cancer and spoilage of breast milk. Therefore, the company can be held responsible for the damage this has caused because they should have worked out the dangers and have predicted the risks involved for everyone’ s sake. According to Environmental Protection Agency, the Montrose Chemical Corp used heavy amounts of chlorobenzene as a raw material for making DDT  and this substance is in its innate form is non-aqueous meaning it remained in the ground and mixed with the other raw materials that resulted in making the groundwater in the area contaminated. Consequently, the surface soils around that area were found to be contaminated with DDT residues. This is something that the company should have considered and anticipated. Also, the company did not demonstrate in any way health concerns by warning people about the dangers of usage even after the publication of Silent Spring by Rachel Carson. Human life as well as animals’ should be valued and the manufacturing of DDT resulted in damages as serious as cancer based on some reports. Things Montrose Chemical Corporation should have done differently As part of their social responsibility, instead of rushing into getting as much DDT out for sale as quick as possible, the company should have paused and conducted enough preliminary research to really outline the potential dangers of this substance in the environment and also find alternative ways of fixing those problems without damaging the environment. Perhaps the company should have also provided training and education on usage so that consumers can take the right precautions when using for their benefit and for the benefit of the environment. Even after the risks started being talked about like in the book published by Rachel Carson, Montrose Chemical Corporation showed carelessness and no effort in trying to mitigate the problems caused by the result of their business’ existence. They could have at least provided financial aid for the damage caused by this product and to protect life and environment from the effects. That would have shown some sense accountability. For example they could have helped develop fish farms around the area to help with the population and maintain the ecosystem. Effective Corporate Social Responsibility is a fundamental ethical code and its initiatives should look at issues that affect its stakeholders in the long run. So perhaps the company should have revisited their CSR objectives to really improve their planning on manufacturing and selling. The Stakeholder theory coined by Edward Freeman and others argue that instead of starting a business and looking out into the world to see what ethical codes they need to be obligated to, they can begin in the world itself; they list out individuals and groups that will be affected by their operation and recognizes their right to participate in directing it. Also, the company could have been more transparent in their manufacturing operations. This  might have prompted other researchers out there to point out DDTs disadvantages much sooner and do something about it. It had to take the government’s decree to ban it in order for them to stop their activities and if that was not there they would have presumably gone on with their business. Environmental Protection Agency’s Ethicality Even though DDT was not banned in other countries, it was still very unethical for the Montrose Chemical Company to go on selling this product to them. The Righteous moralist philosophy holds that multinational home standards are the right ones for companies to abide by in foreign countries. Ethical issues arise when environmental regulations in host nations are far much inferior to the ones in the home nation. At that point, all the dangerous effects of this product were proven and known yet they still carried on selling to people across the world. The reason it was banned in America was because of the hazardous effects it had overtime affecting people, animal life and the environment as a whole. With this information conclusive and very well documented, the company should have ceased manufacture and selling of this product not just in America but to all the other countries that were getting this product. Instead they knowingly continued manufacturing and selling, disregarding compl etely the dangers that other people are going to face. It is also important to mention that even if the company did not know about the studies that revealed all the effects of DDT, they had a duty to be aware of it to avoid the carelessness that they ended up showing resulting in the harming of people, animals and the environment. They cannot simply ignore the dangers the people, animals and the environment are being put in even if it is beyond their borders. The Environmental Protection Agency had no choice but to ban the whole operation because the DDT had been proven to having caused damage to the environment and harm people and animals as well. Even though this probably meant many people losing their jobs, the ultimate damage that the company’s operation would have brought about would have been far more overwhelming. If they hadn’t done that, naturally the company, being a business might have gone on with the selling of DDT and that’s a possibility that is not worth the risk. After all, at that point, they had not shown any signs of stopping anyway because in the ten years between the Silent Spring publication by Rachel  Carson and when the EPA officially banned the use of DDT, business continued as usual in other countries continents such as Africa, Asia and Europe. Also, according to the EPA official website, the quick success of DDT as a pesticide and broad use in the United States and other countries resulted in many of the insect pest species mutating and developing a resistance to DDT and so finding new ways of dealing with the problems would be what’s next. In a nutshell, the EPA would have to be answerable to the damage caused in the environment and so this was the right step. Muller’s award discussion Muller’s award for his work on DDT should not be taken away from him because first and foremost, Muller had demonstrated a high level of understanding in chemistry and he did it in an honest way. For that alone he deserved the award because it is something remarkable in the field of Chemistry. In fact, his product helped solve many problems in Agriculture and even health care and so this is only more of a reason to celebrate his great work. He cannot be held responsible in any way for the misfortune DDT has brought about. His intention was good in that he was trying to find a way to protect human life from insect borne diseases. Many other advantages followed such as pest control in the agriculture sector. It was only when this product started being heavily commercialized did the problems of land pollution, toxicity and cancer came about. How the discovery was used cannot be blamed on Muller. Prior to DDTs commercialization, Mueller did express his concerns about the inherent nature of DDT ; of how stable it is, meaning it would not be able to decompose harmlessly in the environment so from that, people should have been more careful at how they manufacture and sell DDT. Also, Muller did not take part in its commercialization that led to the environment’s deterioration. Therefore taking Muller’s award away from him would only be unfair and outrageous. Saving lives versus environment risk The ability to save lives is not worth the risk the environment has to be put in. From the case, it may seem that DDT is worth it as it helped control pests and saved a lot of lives but this is only a short termed and a smaller issue compared to the entire ecosystem in the long run. The utilitarian and the Kantian philosophy brought forth by David Hume and Jeremy Bentham argues that the moral worth of actions or practices is determined by the  consequences. If the effects are desirable then the actions are worth it. The continual disposal of DDT cumulatively resulted in cases such as cancer, contamination of soil and water; toxicity in milk and egg shells in birds not properly formed for birth. This in the long run disturbs the ecosystem which is essential for all life forms. The cancer only means more deaths and toxicity in milk could as well have the same result, poor health at the very least. Preserving the environment provides a more sustainable future for life and its maintenance. Conclusion In spite of all the credits that DDT probably deserves, the damage that the environment as a whole cumulatively ends up having makes further operations ethically unacceptable and not worth it. As a company with such activities, they have the responsibility to look after its stakeholders and the environment at large. Montrose Chemical Corporation was very careless about how they handled their manufacturing and selling of DDT and it ended up costing damage not only in the US but even in countries outside of the US. More research should have been done to anticipate this and more acts of accountability should have been shown to help mitigate the situation. By placing emphasis on ethical issues at every point in their manufacturing process, the company will ultimately do more good in the long run. A theory that was once proposed by Thomas Hobbes called the theory of social atomism states that individuals always act for their own selfish interests, and in the pristine state of man, there a re no rights. This kind of attitude must be suppressed if there has to be any progress in protecting interests of stakeholders.

Fit Crackers Market Analysis

MKT 201Sec: 07 Submitted To: Mr. Abul Khair Jyote Submitted By: Group â€Å"Innovi† GROUP MEMBERS MD. Asif Chowdhury,ID: 1010498 Nafisa Khan, ID:1020718 Tusher Mahamud, ID: 1127026 Shadia Tahsin, ID: 1221675 Yasmin Jahan, ID: 1127036 Submission Date: 25th november 2012 ASSIGNMENT ON: â€Å"Fit Crackers† Acknowledgement: We would like to thank our respected course instructor Mr. Abul Khair Jyote to give us such an opportunity to make a group report on a product’s market analysis. We also want to give him a special word of thanks for his persistent guidance and encouragement at all stages of this work.We consider it a great opportunity to have a share of his knowledge and experience in the field of marketing. And we want to thank the Pran foods company’s employees for giving us such valuable information. We also want to thank our guardians, seniors and friends who help us to make our report valuable and complete by giving information and their valuable perce ptions. Topic Name| Page No. | 1. Executive Summary| 1| 2. Introduction * Company overview * Product| 2-32-33| 3. Marketing Mix * Product * Price * Place * Promotion| 44444| 4.Market Strategies * Market Segmentation * Target Market * Market Positioning| 5-655-66| 5. Practice of Marketing Concept| 6| 6. Building Customer Relationship| 6-7| 7. Customer Relationship Group| 7-8| 8. Competitors| 8| 9. SWOT Analysis| 9| 10. Ad Analysis| 10| 11. Product Life Cycle| 11| 12. Conclusion| 11| Executive Summary: Fit Crackers is a product of Pran Food Company. It starts the journey in 2012 with milk favored biscuit. Slogan of this product was â€Å"ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN†. Weight of this product is 130gm and price is TK. 0. In market segmentation it does not focus only a special group. It divides market into multiple segments like demographic, Psychographic segmentation. It uses different target marketing strategies for its several custome rs. Its target customers are children, young people. That is why it uses milk flavor, sweet and healthy ingredients. It holds a great position in the consumer mind by creating good taste of biscuit also favorable price for every class of people. To build a good relationship Pran always handle their consumer promptly. PRAN view their consumers’ as their king.They build and maintain profitable customer relationships via endorsing consumers’ satisfaction. It also maintains good customer relationship. At the beginning of Fit crackers it has good demand in the local market. But day by day competitors are increasing by offering more variety product with fewer prices like Fnf crackers by Danish group. In the SWOT analysis it has good chance to hold market also have weakness & threats to escape from the market. Pran fit Cracker has an Ad which telecasts on Tv also it circulates Ad on some newspaper.This ad actually dictates that people who love craziness especially the younger can enjoy it more to feel their craziness. Fit Crackers starts its life cycle from introduction with great effort and successfully hold in the market but due to increasing competitors its now in maturity stage which is not good for Pran. At last we can indicate that to survive in the competitive market Pran have to come with new variety taste of fit crackers like Fnf Crackers with attractive price by providing superior taste than other competitors. Page No. 01 Introduction: We analyze the market of â€Å"Fit Crackers† a product of PRAN Foods Company.The introduction part divided into two sections one is about company and the other one is about the product. Company Overview: â€Å"PRAN† is currently one of the most admired food and beverage brand among the peoples of Bangladesh. PRAN started in 1981 as a processors fruit and vegetable in Bangladesh. All the PRAN products are produced as per international standards maintaining highest level of quality at every stages of its production process. PRAN products are regularly being exported among 82 countries around the world. The company has adopted ISO 9001 as a guiding principle of its management system.This company is complaint to HACCP and certified with HALAL, which ensures the best quality products reaches to the customers around the world. Company Aim: â€Å"To generate employment and earn dignity and self-respect for their competitors through profitable enterprises. † Vision: â€Å"Improving Livelihood† PRAN is currently producing 200 hundred products under 10 different categories. Page No. 02 Company Objective * Profit maximization * Maximize sales * Growth * Maximize sales revenue Attract and retain loyal customers by providing value for customers LOGO Company Address:Corporate Address: PRAN-RFL Centre, 105 Middle Badda, Dhaka-1212, Bangladesh. Phone: 880-2-9881792 Ext-345, 880-2-8835546 Fax: 88-02-8837464 Web Address: www. pranfoods. net Product Introduction: Our market analyz ing product name is â€Å"Fit Crackers† it’s a milk-flavored biscuit. It’s a Bangladeshi product. It is under their Dairy Category. PRAN Dairy Limited manufactures it in their factory Bagpara, Palash, Narsingdi. PRAN come with a new milk flavored biscuits with new taste and new design Launch Year: 2012 Page No. 03 Country of origin: Bangladesh Storage Information: Keep in dry and cool place.Marketing Mix: The marketing mix consists of everything that the PRAN Fit Crackers can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as the 4Ps. Product: In short, we can define product as anything that can be offered to a market or consumer for attention, acquisition, use or consumption that might satisfy a need or want. This product is pure tangible goods. Levels of the product: The following are the two levels of this product: Core Benefit: Satisfaction of hunger, ensure nutrition to the people.Actua l Product Name: Fit Crackers, a PRAN food. A new milk- flavored crispy, crunchy and tasty biscuit with new and different style packing. Tagline/Slogan: â€Å"ESE GELO CRISPY CRUNCHY FIT CRACKERS EKBAR KHAN R TOTALLY CRAGY HOYE JAN† Net Weight: 130 GM. Price: Tk. 30. 00, which is based on their target customer’s income. Place: This product is available in every grocery and departmental shops of Bangladesh. It also exported other countries like PRAN’s others products. Promotion: It uses newspaper and TV Ad as promotional activities. Page No. 04 Market Strategies: Market positioningTarget marketing Market segmentation This process involves market segmentation, target marketing, differentiation and positioning. Market Segmentation: Market segmentation is one of the most important parts in marketing. It is the part where marketers divide the market into small groups of buyers’ distinct needs, characteristics, or behavior that might require separate products or marketing mixes. Here, Multiple segmentation is use to choose the market. Demographic Segmentation Age & life cycle: This is a milk flavored sweet healthy and biscuit which is for children and young people mainly.Because for older people sweet and fat is not healthy. They choose a small family size. Religion: They choose not only Non-Muslim and non-vegetarian but also for Muslim and vegetarian. Psychographic Segmentation: It’s a milk flavored crispy crunchy biscuit, which new different taste create craziness. Its slogan based on this psychology of craziness. They choose middle class people for their market. Target Marketing: It uses different target marketing strategies for its several customers. Its target customers are children, young people. That is why it uses milk flavor, sweet and healthy ingredients.Make the product crispy, crunchy and tasty to attract the customers. It designed and weighted based on another customer small families. Page No. 05 Another customer is mid dle class people who like to take biscuits with tea. To attract middle class people it designed like a meal, which people can take with tea. Moreover, they make a lower price for middle class people. It targets not only Non-Muslim and non-vegetarian people but also Muslim and vegetarian people. That is why they use HALAL and vegetarian ingredients to make this product. Market Positioning:While promoting or introducing a new product it is very important to have a good and strong positioning strategy. Product position is the way the product defined by consumers on important attributes-the place and product occupies in consumers’ minds relative to competing. As fit crackers is a product of PRAN group create position in the consumer mind by promoting attractive ad with great milk flavor taste also with good brand name (Pran) so is definitely have a better place relatively to competing products in the minds of target customers.It’s completely a new product with an advantage over other competitor by offering good taste with good price which can easily affordable to every class of people. Practice of Marketing Concepts: There are five marketing concepts. * Production * Product * Selling * Marketing * Social Marketing Concept From this PRAN practice Marketing concepts for â€Å"Fit Crackers† Marketing concepts: They view their customers as their king and as their laypeople. They identify needs and wants of the target markets and delivering the desired satisfactions better than competitors do.That is why they come with different milk-flavored biscuit from their competitors innovating new taste according to their customer choice. Building Customer Relationship: PRAN view their consumers’ as their king. They care about their consumers. They build and maintain profitable customer relationships via endorsing consumers’ satisfaction. They fully support consumers’ right to know what is in the product and they are transparent in terms of ingredients. They provide clear communication about their product ingredients, date of expire, nutrition values, etc.Page No. 06 They recently have started PCC (PRAN Customer Care) The eventual goal of their customer care program is to build long-term profitable relationships with their customers. They honor the communication to their customers. So, they humbly request their customers to feel free to communicate with them regarding following issues: * Complaint for the product * Price information * Benefits of the product * Comments for the product * And any other issues Objectives to seek through their customers’ care are: * To create a culture of customer focus To receive complaints from the customers on product related matters * To achieve customer satisfaction * To create rapport and loyalty They provide the easiest way to communication as they care valuable time of their consumers. Consumers can communicate with them about them through: * Cell Phone: +88-01973-737777 (During 8 A. M. to 8 P. M. ) * Through their web mail- [email  protected] com Customer Relationship Groups: For capturing Value from customers every product or company need to identify its customer groups. There are four customer groups:Short-term Customer Project Loyalty Long –term Customer High Profitability Low Profitability Potential Profitability Page No. 07 True Friends; Small families who are always having product of PRAN and very loyal to as PRAN product consumers they are also â€Å"Fit Crackers† true Fiends. Butterflies: Children or young people are â€Å"Fit Crackers† Butterflies. They are highly profitable but if they get extra facilities from another crackers biscuits like taste change, cost effective facility they will switch to another crackers biscuits.Strangers: Some people live in Bangladesh but do not like to have Bangladeshi manufacturing products they always try to choose exported products for their own use. That kind of people is strange rs for â€Å"Fit Crackers†. However, they are very little in size. Barnacles: Upper Middle class and upper class people are like Barnacles for â€Å"Fit Crackers†. Because they are, like fastidious. However, they are very loyal to PRAN, the leading Bangladeshi agro-based manufacturing company. However, if they find a simple fault or very little taste dissatisfaction they will be switch to others. Competitors:Day by day new competitors has arrived on of them is ‘FnF crackers’ by Danish group. They also provide the same design biscuit but their price of the product is not so high Tk. 30. n also tastes different from Fit crackers. Main point is that they brought small packet size 65-gram n price 15 Tk. Therefore, â€Å"FnF crackers† have a strong chance to compete. Page No. 08 Source: Prothom Alo News Paper Bangladesh, 22 November 2012, Front Page. SWOT Analysis: Strengths * Completely new Segment. * Taste is good. * Consumer perception is good. * Reas onable price than other product| Weaknesses * Low market share. Lack of brand awareness. * Lack of variety. * Lack of product size differentiation. | Threats * Competitors have variety. * Competitor has different product size. * Lack of promotion. | Opportunities * Fast market expansion. * Younger as an influence. * Innovative Promotions. * Good Brand name. | | | Ad Analysis: As Fit crackers is a biscuit targeted towards the young generation who are always in a hurry and don’t get enough nutrition, the Tvc and Newspaper Ad of this product also generate the intension to grab that particular target markets attention.Lots of colors have been used with a humorous story. Source: Prothom Alo Newspaper, Bangladesh 17 September, Page 20 Page No. 09 Product Lifecycle: A new product progresses through a sequence of stages from product development to introduction, growth, maturity, and decline. This sequence known as the product life cycle and is associated with changes in the marketing situation, thus affecting the marketing strategy and the marketing mix. PRODUCT LIFE CYCLE FOR FIT CRACKERS, THE PRODUCT LIFE CYCLE ANALYSIS IS: THIS PRODUCT IS ON NOW IN MATURITY STAGE(information provided by Pran company) * In maturity stage one or more competitors can come. And a competitor named FnF Crackers come in market and they offers lower price than fit Crackers. * Fit crackers features enhanced to differentiate the product from that of competitors. Page No. 10 Conclusion: Page No. 11 From the overall point of view we can conclude that Pran is a good company which has great value in the market which come up Fit crackers with successive strategy which has great demand in the market when competitors were absent in the market.Now markets are flourished with new product with variety according to consumer choice. One of the competitive products of Fit Crackers is FnF Crackers of Danish Group come up with variety with good price. But one thing Fnf Crackers not have which is bra nd name but Pran has so still have chance of fit crackers to regain his position in the market if they come up with new variety of product of Fit Crackers with variety taste which should superior than other. To draw attention of consumer Pran have to promote its product more and more by Tv, Magazine, Radio, Newspaper etc. Thank You