Factors to Consider in Annual Accounts

Factors to Consider in Annual Accounts Financial Accounting A friend of yours has a sizeable portfolio of investments; mainly ordinary shares in UK listed companies. While talking to him about this you realise that he never looks at the annual accounts of those companies to help him assess his position, relying instead on tips and hints given in the quality newspapers. Do you feel that this is a sensible strategy, and why? It is sensible to gather opinions from quality newspapers and experts’ comments from the media. As the answer will later explain, the market sentiment reflected in the share price involves a group of factors that alter the price. However, a sensible strategy would demand the use of financial accounts as a major source of information becoming the most important tool for making decisions on any given company. Over the last years the improvement in reporting systems imposed by financial regulators have led investors to play a more active role when holding ordinary shares in public listed companies. In principle, shareholders should constantly review the level of earnings per share compared to the return on investment expected, which is based on the horizon projected when the investment portfolio is created. During the investment period any shareholder can follow the performance and the sector in which the company operates in order to assess if the position adopted is beneficial and at the same time evaluate the company’s ability to deliver returns. In this order of ideas, financial accounts are a primary source of data reflecting the financial position of the company (normally at the end of each quarter) and producing effective comparisons on the operations against previous years and its competitive position with industry competitors. From the investor’s point of view, accounts exercise a pivotal source of data through providing financial and economic variables that measure the value of the investment; for instance the liquidity prospects and the company’s capacity to sustain profitability and growth. In relation to public ordinary shares, since they are traded on a daily basis offering market liquidity and flexibility to modify (buy or sell) the composition of the portfolio, common shares (ordinary shares in the US) entitle the holder to share when a distribution of dividends takes place and, in normal circumstances, their vote at company’s meetings (Black, p335). Being holder of ordinary shares increases the need for assessing accounts as the investment return is materialised only in earnings per share or when they are sold at a premium price. To summarise, it is highly recommendable to establish constant access to primary source channels linking the company’s performance in the past and present with the capacity to forecast the future. Farmer (1986, p247) explains that the share price in the market is influenced by several factors such us: interest rates, inflation, technology changes, factors changing the business environment, oil prices, etc. Therefore, the ability to combine the market sentiment over any given company and the company’s earnings generates an integral mechanism to guide shareholders’ decision on a particular stock. Do you think there are any matters he should definitely examine in the annual accounts, and if so, what? McKenzie’s contribution in interpreting financial data, define financial accounts as the way to show if the business is efficient in terms of profitability trend and the strengths acquired in relation to liquidity to fund working capital and capital expenditure and the company’s ability in keeping growth momentum reflected on P and L and balance sheet statements (Mckenzie, 1998, p 8-9). Before any type of assessment on the accounts, a shareholder needs to have a comprehensive view on the company and its ability to perform in the future. By narrowing the answer down, Kettell (2001, p152) and Blake (1984, p26) agree in affirming that the importance of accounts for shareholders is the valuation of stocks held using earnings indicators. Dividends are paid out of earnings, in the case of all earnings paid out as dividends the Profit and Loss statement accounts them as dividends; if the earnings are retained by the company, a reinvestment of capital policy is expected to support future plans. Blake (1984, p26) uses the term â€Å"investor ratios†, which relates the accounts to shareholders’ main interest. Refer to (i) and (ii): (i) Earnings per share ratio: Earnings Number of ordinary shares (ii) Dividends per ordinary share: Dividends - Number of ordinary shares As mentioned before, accounts link the performance of the company in the past with the present and historically produce data to forecast the financial position highlighting growth, liquidity, profitability and debt structure as the most relevant. Farmer (p248, 1994), explain how investor ratios can be related to the market and how they efficiently assess the performance trend in terms of investors’ returns by associating the current market price of ordinary shares. Refer to: (iii) and (iv): (iii) Price-earnings to ratio (PER): Market price per ordinary share x 100 Earnings per ordinary share (iv) Earnings Yield: Earnings per Share x 100 Market price per ordinary share The investor ratios translated into facts for the shareholders demonstrate that the growth of earnings over time and subsequent rise in share prices is largely caused by the company management and workforce, and shows evidence of the company’s operating efficiency. Positive trends out these ratios identify the company’s competitive position; however, it is relevant to affirm that earnings are not dividends. Thus, the overall analysis for each investor has to validate whether a cash flow position is met in line with the boards of directors decision on either distributing or retaining dividends going forward. (Farmer, p249-250). Finally cash flow, according to McKenzie (1998, p271) explains that two observations should be made in relation to cash position, a. Operating Cash Flow and b. Cash Generation. The cash position as a result of operating activities indicate if the core of the operation is generating working capital, capital investment reserves and liquidity to responds to dividends’ policies. Bibliography Blake, J.D. (1984) Interpreting accounts, theory and practice for accounting examinations, Van Nostrand Reinhold UK. Black, J. (2002) Dictionary of economics. Oxford University Press: Oxford. Farmer, E R (1986) Making sense of company reports, Van Nostrand Rinhold, England. Kettell, B (2001). Financial economics, making sense of market information. Prentice Hall: London. McKenzie W, (1998), Guide to using and interpreting company accounts FT, Pitman Publishing, second edition.

Honda City Marketing Research

ACKNOWLEDGEMENT The project in its present form and state would not have been possible had it not been for the able guidance and support of Prof. Sandip Anand whom we always looked up to, when faced with any difficulty and have disturbed him at all times and hours. We would also like to thank our seniors and classmates who provided us with references required for collection of data. No research would be successful, without the active involvement of the respondents and we take this opportunity to thank our various respondents for having patiently filled our response sheet. EXECUTIVE SUMMARY BACKGROUND The first automobile was steam powered vehicle invented in 1672. Since the first car rolled out on the streets of Mumbai (then Bombay) in 1898, the Automobile Industry of India has come a long way. During its early stages the auto industry was overlooked by the then Government and the policies were also not favorable. As a result automobiles were not a common sight. However with liberalization policy adopted y the GOI, significant changes have been made. Today, India is one of the largest markets for automobiles in the world. Our research is concerned with the sedans. A sedan car or saloon car (British English) is a passenger car with two rows of seats and adequate passenger space in the rear compartment for adult passengers. The vehicle usually has a separate rear trunk for luggage, although some manufacturers such as Chevrolet, Tata, and Volkswagen have made rear-engined models. It is one of the most common body styles for modern automobile LITERATURE REVIEW We studied some current literature and news reports available on the growing mid segment sedan market in India. There is a huge shift that is currently happening as far the car market is concerned. Companies are now starting to believe in the â€Å"India Growth Story†, and changing their focus to lure high spenders and people who are connoisseurs of luxury and premium cars. All companies have either entered or planning to enter this segment. Some of the latest reports from the executives (or the company) of some of the leading players in the market are as mentioned below. Speaking to Business Standard, Fumihiko Ike, chief operating officer of regional operations, Asia Oceania, Honda Motor Company, said: â€Å"There will be multiple models coming out of the small car platform after its launch in 2011. We will explore a sedan, too, using the same platform to make maximum use of our resources. † While Japan's third largest auto company, Nissan, had stated earlier that it would also pull out a mid-sized sedan from the small five-seater car that it would launch this May. Toyota Kirloskar Motors will be launching a sedan based on the concept compact model, which it had showcased at the recent Auto Expo held in Delhi. Company officials decline to reveal the targeted price, but state it will be available in the same range as the Swift Dzire, which is Rs 4. 90-5. 5 lakhs. Czech-based car maker Skoda Auto is also working on a car which it is keen on positioning below the Octavia, a premium car sold above Rs 10 lakhs. Thus, this area presents a huge marketing opportunity for companies and so is an exciting subject for study as well. CATEGORY The brands this study would cover are Ford Fiesta, Maruti Suzuki SX4, Hyundai Verna, Fiat Linea and Honda City. Research Methodology Prime focus of the research: To find the value positioning of Honda City among the mid segment sedans. Target Group Since we were studying the mid and the premium segments there are three groups that we targeted in our study: Existing consumer who buy cars. Probable consumers who can convert into active consumers into near future. Consumers who shall be converting into such category in distant future. We basically studied the following categories of people for our analysis: Working professionals Youths in the age group of 25-40 with high disposable income Students and other youth about to join service or start up on their own First year students of XIMB were also considered for the study Methodology The attempt of this study was to cover the growth of the premium segment watches as a lifestyle statement, the coverage included quantifying or finding the strong and the weak attributes that pursues the sales of these watches hence the methodologies used are: Focus Group Discussions (2) In-depth Interviews Survey methodology (Sample Size = 101) While the group observation and discussion helped us to identify the qualitative aspect of the study at length the survey methodology helped us to reach to a various inferences related to percentage of people preferring the sedans, the primary drivers for the various mid segment sedans, the strengths and weaknesses of the brands, stochastic share of brands etc. which is discussed in detail in the report at a later part. Process Since we are targeting such diverse consumer group our survey has to extend beyond regional level. The focus of our survey shall be: Pan India Survey Respondents from metros- Prime target study Mini metros Class 1 towns Online questionnaire: We used this as our method for collecting data so as to reach customers from all possible segments and various cities. Sampling The traditional sampling approach, i. e. the sample was selected before data collection began and sampling without replacement was performed. The following techniques were used: Sampling Technique The traditional sampling approach was used, i. e. he sample was selected before data collection began and sampling without replacement was performed. The following techniques were used: For the qualitative analysis, i. e. in-depth interviews and focus groups discussion, subjects were selected based on the attributes and the parameters for buying the mid segment sedans mostly from students and working population. For the quantitative analysis, snowball sampling was adopted. Recent buyers helped to send the questionnaire to ot her people who were passionate about mid segment sedans. Sample Size Around 150 people were included in the study with the following rough breakup. Around 10 people for the focus group discussions and the in-depth interviews (Qualitative Analysis) Around 101 people for the Sample survey (Quantitative Analysis) Aspiring groups comprising of students, young working people and executives were considered. Variables Dependent Variable Independent Variables Now we have a look at the various independent variables that in turn have helped us to decide the preference of a particular mid segment sedan. Affordable Price – Whenever customers go to buy a car, some of them may have a particular budget in their mind while some may be willing to spend any amount. Many a times it happens that a customer goes to a showroom and asks the dealer to show cars with a particular price range while at times they are willing to spend any amount if they like a particular car. Hence this variable helps us in understanding the attitude of customers with respect to the price they are willing to spend when they go to purchase cars especially in the segment of 5 lakhs to 12 lakhs. This variable also helps us to understand very important factors like whether the customer is willing to compensate quality to save cost because if he is not willing to spend more if he is getting a better quality car in a price beyond his budget then it shows that the customer is strictly limited by his price range while making the purchase. Comfort – Comfort is one of the important aspects while deciding on the choice of cars. When a customer is willing to pay any amount over 5 lakhs for a sedan that means he or she is looking for a car which provides good comfort. Comfort in a broader aspect touches upon the experience of a customer when he or she is travelling in car. Sufficient leg space, seats and a good shock absorbing system are quintessential in determining the comfort of a car. Interior and Exterior looks – Aesthetics and looks are always an important criteria for purchasing a car. Sedans are typically considered as mid segment cars because of its superior exterior looks and good interiors. This variable helps us to determine whether people consider exterior and interior looks as one of the defining criterion while going for a sedan. Safety and additional Features – With increase in the options available in the market, many a time customers may want to look for additional features being offered in different mid segment cars. Air bags, power steering, alloy wheels, music player, central locking and multiple colour options are various other additional features which customer are looking for when they purchase a car. This variable will give us an idea as to how much priority a customer gives to these features. Mileage – Middle and upper middle class people always look out for a car which has a good mileage. As fuel prices are increasing year after year, mileage has definitely been a governing criterion for all car takers. This variable will help us measure the importance of mileage as one of the deciding parameters. Power – One of the most important features of a mid segment sedan is the power. There is a substantial increase in power from the small cars thereby giving more pick up and stability in the long run. This variable will help us to determine whether people perceive power as a criterion to select a sedan or not. After-Sales Service – Possessing a good car does not solve one’s purpose. Customers are looking for cars which not only are affordable, give good mileage but also which have good after sales service. Therefore, after sales service is very important in today’s competitive environment. This variable will give us an idea how important is after sales service when customers go for a particular brand. Status Symbol – India has been growing at a fairly fast rate which eventually has raised the per capita income. With the growth in income people have become more conscious about the kind of cars they possess. Therefore, status symbol is an important parameter when we go for a particular brand. This variable will tell us whether status symbol is one of the criteria to go for a particular brand. In addition to the above independent variables we have also gathered some demographic data of the people so that we can have a better understanding of the pattern of preference of people coming from different locations, belonging to different age group, having different annual incomes etc. Some of these demographic variables are listed below Name: Name of the respondent Gender: To find out the gender of the respondent Occupation: To find out the current occupation of the respondent Household Income per annum: To find the income group to which the respondent belongs. Price willing to pay for a sedan: To find out the price range which respondents are comfortable while going for a sedan. Qualitative Analysis Qualitative Analysis was carried out using focus group discussions to generate hypothesis about purchase decision of a car for people and how different factors affect their decision. Qualitative analysis will be helpful for getting a detail insight into the problem. Focus Group Discussions Honda City has been regarded as a prestigious brand in India since its launch in 1998. It maintains a significant market share in its class and enjoys a very high level of popularity. The luxurious sedan has a lot to offer to its potential buyers- new engine, new design, more grandeur, increased cabin space, and of course top notch performance. Objectives: To find out the perception of people about Honda City among the mid segment cars in terms of factors that affect the purchasing behaviour of customers. They are factors like: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} To check the status of Honda City as compared to its competitors like Verna, Ford Fiesta and Linea in the sedan segment of cars. Target Population: Young Professionals in the age group of 22-35 years. Users of Honda City and users of other brands Non users of cars Students with no work experience and others with substantial work experience of 2-4 years. Content Analysis: Table 1 CONCLUSION BASED ON QUALITATIVE FINDINGS From the overall Qualitative Analysis, it seems that customers of premium watches are very conscious and careful buyers. For them the most important features are the Quality of the watch and are very particular about its Performance as well. They view it as a strong status symbol and an accessory, which adds to their personality. Also, people these days lay a lot of stress on the additional features like Embedded Jewellery, chronographs etc Quantitative Analysis Quantitative data analysis has been done in the following way. An Excel Analysis of the demographic profile was done first to understand the respondents’ background and to check the general attributes of the respondents. Then the Factor Analysis was done, the result of which has been explained below. Then the top 2 boxes scores were analyzed for various attributes based on respondent profiles. Then Jaccard Analysis was done to find out the primary drivers for the mid-segment car category. It was followed by stochastic share analysis and SWOT analysis. Then cross tabulation was done to measure Brand Preference with the top 2 boxes for all the important attributes. This is how an extensive quantitative analysis for our research was done. Demographic profile of the respondents Gender Profile {draw:frame} The gender profile of the respondent base is tilted towards the male category as they constitute 76% of the total base. Age Profile {draw:frame} Occupation {draw:frame} Of the total number of people surveyed, the service and self employed categories almost constitute 50% of the responses. All the respondents provided their employment status within these three categories and nobody opted for the â€Å"Others† category which was provided. A lot of respondents were from our institute making the student population half of the total responses. Students make the aspiring group and also form an important part for the emerging market. Total Household Income {draw:frame} Pilot Testing Initially a questionnaire was developed as per the requirements of the research proposal. This questionnaire was subject to pilot testing to find out the errors in it if any as per the attitude of the people. To find out if any question is confusing or not conveying the intended meaning it was done. For this we selected around 15 people according to the sample needed for the study. These people were asked to fill up the questionnaire. We noted down any possible problem that these respondents faced while filling up the questionnaire. After this we worked on such problems found out and the suggestions from these respondents with respect to the questionnaire. Some questions those were conveying double meaning or creating confusion was omitted from the questionnaire. This edited questionnaire was then used as the final questionnaire and then the study was carried out. Bi-Variate Analysis Total Household Income Vs Amount Willing to Spend on a Sedan It can be inferred from the above figures that the people want to own a car mostly in the range of annual salary they earn. But majority of the people are willing to buy a car in the range of Rs. 5-7 lakh. It is interesting to find that a very few people want to buy a sedan in the range of above Rs. 12 lakh among the first four income groups. Still people having income below Rs. lakh have shown interest in buying such a sedan possibly due to aspirational reason. Total Household Income Vs Preference of Respondents for Various Brands It can be observed that for those people earning less than Rs. 300000, there is not much difference between the preferences for the different brands. Nonetheless, Honda City and Ford Fiesta are the winners with equal percentage of fan following. In the higher categories of to tal household incomes, it can be inferred that Honda City has a clear cut upper hand over the other brands. Only Suzuki SX4 comes close to it in some cases. This shows that people with higher earnings definitely would like to choose City over other given brands in the mid segment category. People with lower incomes are open to any brand FACTORING Factor analysis is a data reduction technique that aims at grouping the input variables, which have dependency with each other, into factors that underlie the input variables. Initially the total number of factors in the factor analysis is equal to the total number of input variables. But after the factor analysis the total number of variables in the study can be reduced by discarding the insignificant factors based on certain criterion. We have performed factor analysis on all the questions that we had in our questionnaire treating each one as an independent variable. The extraction method chosen for factor analysis was Principal Component matrix. This is the most popular technique for factor analysis, which determines loadings of variables on different factors by using the standard normal values of the observations of the original input variables. The rotation method used is Varimax with Kaiser Normalization. We have given the SPSS output as a separate attachment with the report. Extraction communalities are the variances of the variables accounted for by the factors in the factor solution. Large values of communality of all the variables indicate that they fit well with the factor solution, and thus should not be dropped from the analysis. Clearly all the fifty-two variables have fairly high value of extraction communality and thus should not be dropped from the factor analysis. Scree plot is the curve obtained by plotting Eigen values against their corresponding factors. The eigen value of a factor captures the variation in all the variables captured by it. The Scree plot above clearly shows that the slope of the curve falls after the fifteenth factor and also eigenvalue drops below Due to these only fifteen factors are taken into consideration. The total variance table also gives the details of the fifteen variables of the factoring output. The second column indicates that there are 15 factors for which Eigen value is greater than 1. The last column ‘cumulative %’ gives the percent of variance accounted for by all factors or components up to and including the current one. The fifteenth factor has a value of 82. , which indicates that all the fifteen factors till the current one total account for 82. 6% of variance. The following manifest variables were used for factor analysis: Price on mind while buying Price is the deciding factor Japanese cars of superior quality Warranty important Spare parts availability Serviceability Engine life After sales value Additional features 10. Mileage 11. Engine power 12. Performance feedb ack 13. Status symbol 14. Uniqueness 15. Investment source 16. Superior functionality of premium cars 17. Necessity 18. Affordability reduces attractiveness 9. Perceived as successful by colleagues when driving premium cars 20. Great interior and exterior looks KMO and Bartlett’s Test KMO test indicates if the sample size is adequate with respect to number of variables being considered. 0. 815 indicates that the sample size is adequate. We can also reach the same conclusion by multiplying the number of manifest variables by 5, which is 100 (=20Ãâ€"5) and that is less than 101, the sample size. Bartlett’s test has a chi square distribution and if significance is greater than 0. 1, then data is unimodal. But the high significance level here shows that the data collected is not skewed and has more or less a uniform distribution. Communalities Total Variance Eigen cut-off value has been set to one here. As we can see in the appendix attached, there are four factors which explain 60. 97% of total variance. {draw:frame} Screen Plot Scree plot shows how the Eigen value varies across factors. The points above the Eigen value of 1 in the scree plot constitute the factors. The first four factors have thus a steep value after which the slope flattens. Rotated Component Matrix draw:frame} The rotated component matrix shows all the manifest variables grouped together in various classes which are called factors. They are called latent factors because they are the underlying variables which determine the dependent variable. Also the first factor and the manifest variables under it explain the dependent variable more than the second and third factor. As can be seen from the rotated component matri x table below, eight manifest variables can be grouped under one factor. Another 5 variables under the second factor and so on. Each factor has been provided by a name. A list of the factors and the manifest variables involved is given below: Factor 1 – Features of car/sedan Warranty important Spare parts availability Serviceability Engine life After sales value Additional features Mileage Performance feedback Factor 2 – Social/Perceived Factors Investment source Superior functionality of premium cars Necessity Affordability reduces attractiveness Perceived as successful by colleagues when driving premium cars Factor 3 – Prestige Factors Japanese cars of superior quality Status symbol Uniqueness Factor 4 – Monetary Aspects Price on mind while buying Price is the deciding factor _ _Top of Mind Analysis {draw:frame} The above chart shows the percentage distribution of the various car brands which were provided by the respondents when asked for four various car brands which came to their minds in the mid segment. A total of 45 different car brands were given as response by them consisting of vehicles in the low, mid and the high segments. The most prominent brands were selected and the data concerning them was analyzed. It can be clearly inferred that Honda City enjoys a very good share of the respondents’ top of the mind with a share of about 27%. Maruti SX4 comes next with a share of 14% followed by Ford Fiesta at 11%. When asked about the first brand which comes to their minds, again Honda City was the clear winner by a large margin with about 37 respondents providing the brand name. Jaccard Analysis Jaccard analysis is used in market research to establish which attributes of a brand are important to the customers and the extent to which each of the attributes satisfies their expectations. Jaccard analysis is primarily done to find out the variables in order of their importance for their ability to govern groupability or similarity with the dependent variable. In our marketing research, we have used Jaccard scores to identify the attributes which are important for the brand category using five brands, namely, Honda City, Ford Fiesta, Hyundai Verna, Fiat Linea and Suzuki SX4. These attributes will constitute the primary drivers of the brand. We calculate the Jaccard score as follows: The respondents are asked about their brand preferences in the category and their responses are noted down. Then they are asked if they associate a particular attribute with each of the brands under study and their responses are again noted down as follows: YY: If the respondent prefers a brand and associates with a particular positioning. YN: If the respondent prefers a brand but does not associate with a particular positioning. NY: If the respondent doesn’t prefer a brand but associates with a particular positioning. Jaccard Score = YY / (YY+YN+NY) We calculated the Jaccard score for each of the attributes and ranked the attributes from highest to lowest in descending order of the scores. That means in Jaccard analysis, higher the Jaccard score, better is the attribute. After they are ranked, the attributes with scores above a benchmark score are listed. These attributes are named Primary Drivers. The table given below gives the primary drivers for the brand category of Honda City: Based on a cut-off of 0. 4, we find that the following attributes are the primary drivers in the brand category concerned: Exterior/Interior Looks Comfort Affordable Price Power SWOT Analysis SWOT analysis is done to find the strengths, weaknesses, opportunities and threats of a particular brand with respect to other brands in the same category. When studied along with the help of Jaccard analysis, it becomes a powerful tool to identify the areas of strengths and weaknesses. In SWOT analysis, strengths and weaknesses are internal to the organization while opportunities and threats are external to the organization. A positive SWOT score indicates strength and a negative SWOT score indicates a weakness. It is also observed that the SWOT analysis works on the principal of zero-sum game. A gain on an attribute of a brand is counterbalanced by a loss in another attribute. SWOT scores are calculated as follows: SWOT SCORE = (Brand Attribute score – Attribute Average) – (Brand Average – Grand Average). Here, Attribute’s average is average of all brands’ scores for that particular attribute (Row Average) Average of Brand’s scores on all attributes being considered (Column Average) Grand average of scores (Average of row averages/column averages) The following table is generated for the SWOT scores of different attributes and brands: We have categorised the scores on the basis of the above table. As shown, the attributes with a SWOT score of more than 2 are identified as strengths and are shown in dark green colour. Attributes with SWOT score between 0 and 2 are weaknesses and coloured red, those between 0 and -2 are threats and coloured yellow. Lastly those attributes with SWOT scores less than -2 are labelled as weakness of the concerned brand and coloured red. Now we focus on the brand under question – the Honda City. The attributes of the brand based on SWOT scores can be summarised as strengths, weaknesses, opportunities and threats in the table given below: Honda City STOCHASTIC ANLYSIS When we are talking about the strength of a brand there are few parameters using which we judge the strength of the brand based on the share it has like: Share of Market This measures the hold of the brand of the market. The problem with this kind of analysis is that it tells the strength of the brand today it reflects no projections and possibilities for future. Share of Mind and Heart is the one that highlights the prospects of the brand in the coming future. It tries to capture what the consumer thinks and believes of a particular brand and thus helps us to determine the prospects of the brand in future based on present perceptions. While conducting the market research for Honda City we have resorted to stochastic share analysis, to see the strength of the brand Honda City relatively to other brands in terms of share of mind The analysis has two parts: Preferred set size of the brand Stochastic share of the brand Preferred set size analysis This part of the analysis hovers to procure the data regarding the preference of the brands in the market. It is the simple process in which the respondent has been asked for preference for the brand from the given choices. Respondent’s response for each brand is treated as a unit for each brand; he can prefer more than one brand. All the brands for which the respondents has respondent in affirmative get allocated a unit i. e. if the respondent says he is aware of Honda City and Fiat Linea, both of them will be appended to the column of Honda City and Fiat Linea. In the end summation of the response is taken and the preferred set size is calculated. Of a brand = ————————————————————————————— Total no of respondents that has a preference for that brand Following table has been extracted from our analysis OBSERVATION The preferred set size for all the brands lies between 1. 38 and 2. 41. Honda City has the value of 1. 38 which essentially means people are pretty clear when it comes to Honda City than any other brand. In fact the total data exhibits far lower preferred set size. If see the preferred set size of the other sedans, we can see that they are pretty well distributed which means preference of a particular brand are clearly visible. Inference The ideal score for any preferred set size is 1 which means this is the only brand preferred by the respondent. This sends a very strong message that there is no close competitor to the given brand, when we are talking in terms of preference set of consumer. For the given analysis we observe that some of the sedans have a preference set greater than 2 and some have a score significantly less than 2. The scores which are less than 2 are a good signal because the customer has more clarity and Honda City enjoys higher preference as compared to its competitors. Stochastic Share Analysis This is the second part of the analysis here we approach the core of the analysis. Taking data from the preferred set size analysis we proceed to calculate the stochastic share of the brand The number of respondents that have responded in affirmative for any brand represents the set, which can become the buyer of the brand hence they represent the future market share for the brand and today’s share of mind this is calculated as No of respondents who responded in affirmative for the brand preference __ Total set size of the respondents considered Now this is the market share of the brand but as we have analyzed before the brand is preferred alongside other brands as well so this share of the mind includes the respondents who prefer other brand as well. Thus to get the actual % representation of a brand in the market we calculate Proportionate market share = % of market calculated earlier ——————————————————- This is now the actual share of the brands but this is not the actual share of mind of the brands that is represented by the share of the brand among he brands considered for study. Proportionate share of the brand Stochastic Share = —————————————————————————- ? Proportionate share of all the brands in the consideration set Fol lowing is the table from our analysis Observation There has been a conformance in the data pattern from that noted in the Preference set analysis. Honda City has the least preferred set size, and has the stochastic share of 56. 40% where as the other sedans have stochastic share between 8% and 17%. Inference This reiterates the fact of the preferred set size analysis where Honda City had the lowest preference set score, thus Honda City could be a leading brand in the market. This analysis emphasizes that Honda City is the brand with the highest share of mind of all consumer. This would or already has translated into highest market share in the segment of sedans, as people are all for this brand when it’s up against the other considered brand. Unparallel attributes that are highlighted by the brand Honda Aggressive marketing effort, which has left a lasting impression on the respondents Precaution in adaptation of analysis The analysis has been done based on the respondents and following points have to be kept in mind The analysis has been drawn on the basis of the respondent set thus depending on the response for the sample set the analysis is done. The competitor set size has been defined with deliberate efforts but the share output could vary with the competitor set. Conclusion Honda City definitely enjoys a good top of mind share in the mid segment cars. So, it shows it is enjoying a good position in the sedan segment. But the pricing is obviously becoming a deciding factor in a small city like Bhubaneswar. Most of the people are willing to spend around 5-7 lakhs on Honda City and not more than that. The most important factors that people look for while purchasing a car are features present in the car, prestige issue linked with the purchase, factors like after sales service, availability of spares, etc and of course monetary factors. Comfort, looks, status symbol and maintenance are the strengths of Honda City. But there are other things like after sales service where Maruti SX4 is the leader. It is also lagging behind competitors like Hyundai Verna, Ford Fiesta, and Maruti SX4 in areas like power, mileage and additional features that people expect to be present in a sedan. Honda has got a high stochastic share which means that it has a large potential market. People want to go for it but are not doing so presently due to some factors. So, Honda should try improving on its weaknesses and keep its strengths intact. It should also be alert for new threats in the market. This can lead Honda to be the market leader in the Sedan segment.

A Perspective of the Modern World

A Position of the Modern World The construct of where the modern universe began was ne'er much of a idea of mine prior to taking this class. Believe it or non, I ne'er even gave much idea to what the word â€Å"modern† even meant. However, I do remember what my first inherent aptitude was when the inquiry was posed on the really first twenty-four hours of category. â€Å"What comes to mind when you hear the phrase, the modern universe? † My encephalon rapidly leapt to that of a functioning economic system. An economic system that leads to the formation of more sophisticated Torahs in which society starts to develop and map about. That made sense to me at the clip, but now when I read that back in print I wonder what the heck I was even believing about. My ideas were centered on the constitution of the U.S. settlements and get downing a new society. I was non even needfully believing about post-revolution U.S. , but instead the beginnings of a new state that was puting the tone for the universe that we know today. It made sense to me that the â€Å"modern world† would necessitate holding the concept of the universe that presently exists, even if it was merely in its babyhood phases. Diging in to that thought though led me to the realisation that the U.S. was far from the first economic system in the universe. In fact, economic system day of the months back good in to the early antediluvian times. I slightly seem to remember larning about early economic system when being taught about Mesopotamia in my secondary instruction old ages. So possibly holding all that exists in the current universe is non necessary for the â€Å"modern† , but instead merely holding that avenue for its growing. If a working economic system was non the driving force of the modern universe, what was? Through the hebdomads of the category we had the chance to discourse at least eight different countries that saw important alteration from about the mid 15th century until the late 20th century. And while there will ever be many lending factors to the development of civilization and society over clip, our modern universe seemed to be launched chiefly from one major influence†¦a alteration in position. Perspective is what allowed the modern universe to get down to develop and would finally take us to what we have today. The Renaissance motion in Italy helped catapult a wholly new mentality of that which was standard in antediluvian and mediaeval times. It was a period in clip where a new position began to originate. The displacement from a God-centered point of view to a man-centered 1 developed a whole new originative manner of nearing political, societal, economic and cultural countries, and brought approximately great alteration in each of them. It marked a gradual displacement from a agriculture focussed society to an urban one, where metropoliss assumed a greater importance than in the past because of trade. It was besides a clip when originative thought and new engineering Lashkar-e-Taiba people comprehend and describe the universe more accurately. Science, doctrine, faith, art, and history combined to make a humanist attack to understanding the universe. Switching off from a society dominated by God-focused thought allowed creative persons and scientists likewise to get down progressing some reasonably extremist constructs. In ancient times the justification for anything that seemed unaccountable was based on a intent that the Gods had put away. The Gods brought the rain, pulled the Sun across the sky, changed the seasons, etc. When the Renaissance brought about a displacement in the manner we thought and saw things, there started to be a more scientific attack in the logical thinking behind the inquiries that were raised. Columbus challenged that the universe was round as opposed to level. Copernicus, pant, stated that the Sun is more likely to be the centre of our solar system and non the Earth. It was forward minds like these gentleman that brought about a alteration in society that would get down taking to a patterned advance of alteration instead than a stale and dead being that had been most outstanding in the clip period merely before the outgrowth of the Renaissance. A displacement in the manner society thought would be the accelerator for transmutation of the universe. Critically of import to this displacement in thought was the innovation of Gutenberg’s publishing imperativeness with movable type, which aided the spread of the Renaissance. Prior to holding the printed word, humanity relied on unwritten conveyance of cognition. Perpetrating information to memory was critical to successful life. The passage to books may hold damned memory as was one time known, but it besides provided chances to a turning displacement in idea to the multitudes. Printed books became more readily available and people learned to read and derive entree to a wide scope of cognition. As printing imperativenesss were established in Italy and other parts of Europe, printed books exposed educated Europeans to new thoughts and new topographic points. The add-on of printed plants, made available to the multitudes, added a more finite being to the constructs being fed to the populace. Opinions and ideas on social things were now being published for anyone with the ability to read to devour. Changing positions had a new friend that would assist present them to more people across the Earth, motivating quicker and more efficient transmutation. The general populace now had entree to the ideas of people like Martin Luther thanks in big portion to the printing imperativeness. This sort of handiness to positions such as Luther’s led to legion persons oppugning the current being of established establishments such as faith and authorities. In many ways the printed word helped launch positions to people that may hold been less prone to hearing those same constructs by word of oral cavity. These ideas were now able to be readily accessed by many, fostering an development of thought and construct that would alter the class of social development. Monarchial foundations would get down to be questioned as displacements in position led manner to an epoch of enlightenment. Past traditions and undisputed religion would be challenged by philosophers like Bacon, Locke, and Voltaire. Debating thoughts about authorities and single rights finally led to dispute of traditional regulation. Ultimately a path was paved for rebellion, most notably with the American and Gallic revolutions. Timess were switching from authorities of a supreme swayer to that of a way for single privileges. It makes perfect sense that when freedom comes from that which has kept us down, it is clip to get down to spread out and come on in efficiency. Emancipating ourselves from old traditions allows us to travel frontward and to boom more creatively. This is what the industrial revolution was to me. It was a clip following the separation of traditional authorities in which we could now develop ourselves and challenge ourselves in engineerings. Science and engineering progressed at such a rapid gait and new inventions were doing growing non merely feasible but at hand. Steam engines led to go and efficiency in machinery. Advanced fabrication procedures were made available because of growing in machining tools. It is a spot phantasmagoric to believe of the monumental displacements in industry from the late 18th century to mid 20th century. However, when you start to believe of how displacements in position and ways of idea can impact a civilization so rapidly, the concatenation reaction of development seems a small less incredible. It is still astonishing, but credible. Probably my favourite epoch that we had the chance to reflect upon and discuss was that in response to the industrial revolution, the romantic period. Puting accent on emotions and promoting art, literature, and music to new degrees was the halfway phase of this epoch. Switching from modern worlds, the romantic age stressed utilizing imaginativeness to visualise an flight. Poets like Keats, Shelley, and Lord Byron provided a more facile usage of linguistic communication that brought about power and beauty to the mundane. Romantic art centres more on the unmanageable, unpredictable nature as opposed to the controlled order seen in the enlightenment period. Romanticism was and still is all about experiencing no affair what the topic. There is no uncertainty that the promotions we have been able to analyze dating back to the Renaissance have come about quick, comparatively talking. The fact that we have seen geographic expeditions to new lands, freedoms won over oppressors, people able to wing, atomic arms created all in a small over five hundred old ages is mind blowing to state the least. To believe that merely about five centuries ago our universe was still perceived to be the centre of the existence and a level land. No uncertainty about it that a displacement in position was required to convey about a concatenation reaction of alteration. Challenging old thoughts and puting out to turn out new 1s is no original construct. The cardinal difference that enabled the point of view displacements in the Renaissance period to alter the class of our universe was the ability to acquire those new ideas in to the custodies of the multitudes. I wouldn’t needfully travel so far as to state that Gutenberg singlehandedly altered our class by his innovation. But he surely played a major portion in acquiring that class apparatus so that the driving force of disputing idea and position had a topographic point to travel. Once the class of the printed word was set, original positions were now able to travel frontward and convey about inquiries that institute planetary alteration. It about seems that now we have entered in to a period where we have become complacent with where we are. At least from a engineering point of view. Possibly there isn’t much more to contrive or alter. Possibly. I tend to believe that’s far from the truth nevertheless, and hopefully there’s a whole batch more philosophers on the skyline that will go on disputing and forcing us to the following epoch. It’s a good thing to acquire a alteration in position from clip to clip.

The Stranger and The Great Gatsby Free Essay Example, 1500 words

The stranger and the great Gatsby The two novels revolve around two characters with great desire to attain and sustain a desirable life. In the great Gatsby, the author presents a study of a wealthy and ambitious character who goes by the name, Gatsby. According to Bruccoli, Gatsby is a pathetic character from whom one can almost find no social redeeming values (129). The stranger according to Albert, revolve around an emotionally detached amoral young man who defies the societal norms thus deemed a threat to humanity (49). The two different characters from the two novels, Meursault and Gatsby, demonstrate a degree of contrasting oblivion to how they try to attain and sustain the lives they want in a totally contrasting manner. To begin with, Meursault who is not amused by the death of her mother in an old person’s home upon receiving a telegram informing him of his mother’s demise acts with a disturbing sense of indifference. He seeks his boss’s permission to go and bury his mother upon where he dozes off in a moving bus for most of his journey. We will write a custom essay sample on The Stranger and The Great Gatsby or any topic specifically for you Only $17.96 $11.86/pageorder now Upon meeting with the director of the old person’s home, he is taken to view his mother’s body where again he displays undesirable character. He refuses to view the body even when the caretaker volunteered to open the coffin for him. He also spent the whole night smoking cigarettes, drinking coffee, and dozing in the morgue for most of the night. According to Albert, he is indifferent when it comes to the realm of practical and physical (52). He claims that he does not take any concern on the details surrounding his mother’s death (54), instead, he is more intrigued when the caretaker tells him of the length of the vigil and how long it took before the body decomposes (29). This shows Meursault’s level of indifference towards matters that society considers normal. From the novel we also understand that he was enraged by the caretaker’s interest in conversation during that night. This portrays him as anti-social person. On the other hand, we see Mr. Gatsby portraying the same kind of behavior. This is seen when he dies and there is no one to attend his burial apart from Nick and two other friends. Bruccoli argues that this portrayed Gatsby as a highly anti-social human being whose traits were not likable to many people (136). We are informed that he threw lavish parties that people attended indiscriminatively. This gesture shows that people were just interested in using his property and not enjoying his company.