Soft Drink Industry: Competition and Structure

Soft Drink Industry: Competition and Structure This work aims to study the way the soft drink industry, a major part of the global beverage industry. The research will provide an introduction of the soft drink industry. Using Porters 5 Forces framework, the research seeks to map the structure of the industry. The research will further analyze the macro-environment of the industry using the PESTEL framework to identify changes in the industry. In addition, the research seeks to identify the structural drivers of change within the industry. The study undertaken intends to focus also on learning about the current stage of industry life cycle and what are the driving traits that make this industry worthwhile. From the above scenarios, the research will identify the most likely scenario for the future of the industry INTRODUCTION The Soft Drink Industry consists of establishments primarily engaged in manufacturing non-alcoholic, carbonated beverages, mineral waters and concentrates and syrups for the manufacture of carbonated beverages. Principal activities and products: Aerated waters; Carbonated beverages; Mineral and spring waters; Soft drink concentrates and syrup; and Soft drink preparation carbonating. (Hrsdc, 2005) The soft-drink battleground has now turned toward new overseas markets. While once the United States, Australia, Japan, and Western Europe were the dominant soft-drink markets, the growth has slowed down dramatically, but they are still important markets for Coca-Cola and Pepsi. However, Eastern Europe, Mexico, China, Saudi Arabia, and India have become the new hot spots. Both Coca-Cola and Pepsi are forming joint bottling ventures in these nations and in other areas where they see growth potential. (Fargos, 2005) Soft drinks are the largest beverage market segment in the global market and are forecasted to reach approximately $550bn in 2013 (business insights, n.d). The key players in this industry are: Coca -Cola Company Pepsi Co Cadbury Nestle Porters Five Forces Bargaining Power of Buyers Different level of bargaining power exist among the group of buyers Vending machine no buyer bargaining power Fast food chain- more bargaining power Bargaining Power of Suppliers Bargaining power of suppliers is weak. The ingredients are easily available and there are many suppliers, reducing companys switching cost. Many substitutes for sugar can be used like corn syrup ,sweetener. Threat of Substitutes The threat of substitutes can be reduced by expanding the products such as non carbonated drinks like juice ,tea, coffee and plain water. Alcohol is a threat too esp. as these companies dont manufacture alcoholic beverage. But due to social, time and health constraints its moderated. Rivalry among Competing Firms one could characterize the soft drink market as a duopoly between Coke and Pepsi, resulting in positive economic profits. There is intense rivalry between coca-cola and Pepsi. there is no price differentiation and consumer has no brand loyalty. Threat of New Entrants It would be nearly impossible for a new bottler to enter the industry because of the tremendous market presence of Coke, Pepsi, and a few others .Soft drink industry require substantial capital investment, which would deter entry. Further existing bottlers had exclusive territories in which to distribute their products PESTEL ANALYSIS (P)olitical Factors Non-alcoholic beverages fall within the food category under the FDA. The government plays a role within the operation of manufacturing these products in terms of regulations. There are severe penalties set by the government on companies if they try to violate the laws. (Pbawa, n.d.) (E)conomic Factors There is a deep impact of Recession on Soft drink industry. If cost of raw material rises than production costs will increase. The companies are vulnerable to exchange rate fluctuations, resulting in a drop in profits through foreign currency earned versus production investment. (S)ocial Factors Many people are concerned about their healthier lifestyles. They are switching to bottled water and diet colas instead of beer and other alcoholic beverages. Consumers from the ages of 37 to 55 are also increasingly concerned with nutrition. They are becoming more concerned with increasing their longevity (T)echnological Factors The new technology of internet and television which use special effects make some products look attractive. This helps in selling of the products. Introduction of cans and plastic bottles have increased sales for Coca-Cola as these are easier to carry .As the new technology in packaging system rise the production higher. (E)nvironmental Factors Soft drink industry degrade the environment by transport and fuel wastage ,industries production and waste process. They are required to have more eco friendly products and practices now. While coca cola and pepsi both are emphasizing on recycling of cans. (L)egal Factors Legal restrictions are put in place so that companies products do not fool and harm the consumer. Companies are required to aware the consumer about negative health impact of soft drink and also mention the ingredients and warning on product. Structural Drivers of change Social/demographic The consumer has slowly become more health conscious. . Changing consumer demographics resulting in changing consumer tastes and increased demand for healthier products. There is a increased in competition from other non-alcoholic beverages, such as energy drinks and sports drinks. Packaging and distribution The majority of soft drinks are sold in aluminium cans and PET plastic bottles. They are also sold in bulk through soda fountains. Bottles, most of which comprise PET plastic, Only a very small portion of soft drinks are still packaged in glass bottles .Companies are trying to make packaging more eco friendly such as many companies have introduced re-sealable packs which can be resealed after drinking. The industry distributes its products through supermarkets and grocery stores, drug stores, convenience stores and gas outlets, mass merchandisers and warehouse outlets. The foodservice and hospitality industry, in particular fast food outlets, is another method of distribution. Vending machines also provide a distribution channel for these products. Now the companies can directly sell to the consumer, reducing their dependence on distributors, decreasing costs and increases direct contact with the consumers. (Hrsdc, 2005) Industry Life Cycle The soft drinks market is now in the matured stage of the life cycle. Growth in the industry has remained stagnant. It is natural for product to go in decline stage but coca cola and Pepsi Delay this decline by constantly developing the product or brand in order to extend the cycle. Coca Cola has maintained its leadership for several years. The reason behind is that it constantly developing its brand image and reinforcing the core product benefit of taste and refreshment to ensure that brand remain in maturity stage. . As in a mature industry, it is characterised by high competition, price wars and competitive advantage through economies of scale. As in their domestic market is saturated so many companies are now turned towards overseas markets. Another way to extend the product in a life cycle is to adapt it as consumer s needs change. For example when consumers attitude towards health and diet is changing than coca cola has introduced diet coke. Also these companies have aggressive and high advertising spends in order to maintain a reminder of their products in the minds of the consumers. (Irish Times, 2000) Future Scenario The soft drink industry can have 3 possible scenarios in its long term future which are as follows:- Health conscious Now days consumer are more concerned about their health. Consumers are also aware of the negative health impact of soft drinks (esp. carbonated), like lowering bone density, obesity etc. So consumers are looking to the healthier options. So may be the soft drink industry will decline or will be rooted out of the market. Due to the negative image of the soft drink industry ,there may be some restriction or limitation on supply just like hard drink industry. There may be age or quantity restriction like in alcohol or tobacco. This may lead to drop of sales for soft drink industry. Or it could carry on at the same rate as now with steady and predictable growths. There already is a growing demand for healthy juices, fruit drinks, cereals etc. thus the industries should continue product innovation and expansion of their product line. Diversification and Market share As saturation is taking place in soft drink industry , companies will start diversifying into new product categories and markets. Also, having a diverse product line will make the industry very stable, which is appealing to investors and creditors. Soft drink industry could diversify into many segment. .. So they should diversify according to the consumer needs. Kids segment will be another market that companies will directly begin to target because this is the market where soft drink industry get most of it sales. So there may be low calorie drinks that will do good for the kids and will be the trend in all households. Soft drink industry also diversify on alcoholic beverages. They will make the combination of little percent of alcohol with soft drink which is already popular to attract the hard drink customers. As alcohol is a substitute threat for soft drink this would minimize their risk. Another Possible future is, to expand their global market share. This is very important to sustain because it is the source of the majority of their profits. If they lose global market share, their profits will decline dramatically. So soft drink should take over the local drinks in different countries. Each country has its own local product based on traditional flavours and tastes. The soft drink companies could expand into this new market too. So soft drink industry should acquire local companies and manufacturing these drinks on a mass scale. Special drinks By continually introducing new products, soft drink industry will be able to increase their profits and allow the company to continue to grow. They should introduced special drinks to attract the customer . The global soft drinks market is estimated to reach a value of around $ 49.9 billion by the end of 2014. As with all functional soft drinks (FSDs), the original target segment who initially bought this concept 16 to 30 year olds are growing older and entering a different lifecycle that requires less energy stimulation. Maintaining interest in the sports drinks sector will be vital in order for steady growth to continue. Sports drinks glucose enhancing drinks and all others that specifically boost certain needs of the body Along with new and innovative flavours, which also require a level of familiarity and recognition is important for competing in the saturated soft drinks industry. Consumers also want to see that the product is naturally good for them . The more portions of fruit or vegetables a drink contains so that it tastes good over a normal soft drink Most Likely Scenario The most likely scenario will be the diversification and expansion for the future of the industry. As this industry is already in saturated stage so this scenario will be very helpful. There will be some stage when people get bored with the soft drinks. . Diversification and expansion will create more scope for innovation, profits and new market in these sectors individually by sharing of customers and resources and also enhance performance of the core industry. If the industry wants to keep moving and doesnt want to slipped in decline stage than industry have to adopt the diverse and expand strategy in other segments to keep profit going.

Comparing Stanley Kowalski in Williams A Streetcar and Iago of Shakespeares Othello :: comparison compare contrast essays

Iago and Stanley of Othello and A Street Car Named Desire In these two pieces of literature, both Iago and Stanley plan a tragic scheme to draw the main characters, Othello and Blanche to their "downfall". Iago is absolutely inhuman being while Stanley showed his little conscience. They are both the master and are brilliant. Nevertheless Iago seem to be much smarter than Stanley in comparison. Iago and Stanley plan a tragic scheme to draw Othello and Blanche to their downfall because Othello promotes Cassio to lieutenancy, a position that he wants and it causes him to plan a tragic plan. Othello has supposed affair to Emilia who is Iago's wife. Thus, Iago constructs a plan to revenge. Stanley hates Blanche because she destroys the good relationship between him and his wife, Stella. He thinks that she has sold the Belle Reve which he thinks it's a part of partly him, but she does not give him any money. The most important one, he "assumes" that Blanche describes him as "common" and bestial. Thus, he plots a plan to revenge. In all, both Iago and Stanley start tragic plan their hatred. Iago is absolutely inhuman while Stanley has little consciences in his heart. In order to achieve the target, Iago does everything that will benefit himself even killing others. He kills Roderigo who helps him a lot in his plan. He persuades Othello to kill his Desdemona. Furthermore he kills his wife at the end. Stanley has not yet totally lost his humanity. Although he has raped Blanche, he does not kill her or other people. Moreover, at the end of the play he settles her into an asylum, but he does not just forsakes her. This reveals that someone will look after her in the future, and she will not be living alone. In short, Stanley still has little emotions of love in her heart, but Iago is absolutely inhuman, these two villains have a different level at different period. As the villains in their plays, Iago and Stanley are both brilliant, but Iago's tragic plan is almost perfect. He is able to use other character's "flaw" in his well-constructed plan. The smartest thing he does is that able to hide his identify from others. He appears to be "noble" to others, but in fact, he is evil "under worth". Thus, he can gain other character’s trust.

India Luxury Market Essay

Market Trend There was a slow-down in the growth in sales of premium and luxury watches in India in 2008-’09. It prompted the market leader Titan industries to enter the economy market. Following the footsteps, luxury watch brands like Tag Heuer and Rolex introduced low-price models. But in recent years, mobile phones may also have dampened growth in the penetration of watches in India, as they provide a time read-out as well as alarm and other time-related functions. Watch industry experts believe that their product’s original function is increasingly losing importance, and that wristwatches are now being bought as fashion accessories. Owning more than one watch is like owning different pieces of jewellery. Competitive landscape The economy watch demand is being met for the most part by the unorganised sector and by direct imports. The premium segment is increasingly being peppered by fashion brands such as Esprit, Swatch, Fossil and Tommy Hilfiger. There has also been strong value growth for these brands, with growing demand from middle- and upper-income groups in urban India. Titan, HMT and Maxima are the leading Indian players and Timex, Casio and Swatch are now the strong multinational players in the market. More multinationals are entering the retail market, but no new domestic companies have done so, and the multinationals’ share of value sales has increased over the review period. Premium Brand & Product Perception With the watches market in India now becoming fashion and style driven, especially at the premium end, companies now launch models and designs every six months. International brands such as Fossil launch spring/summer and winter ranges. Titan, on the other hand, times its launches to fit in with the Indian festive season – Deepavali and weddings. Companies like Casio and Swatch and luxury brands like Rolex are exploring a niche market for chronographs, but this is currently negligible. Companies also need to respond to product innovations. The Citizen eco-friendly watch has been well received in India and is reportedly selling well in its price bracket, eliminating the trouble of replacing batteries and encouraging the use of multiple watches. Apparel brands such as Esprit, Tommy Hilfiger, Benetton and Levi’s have all gained familiarity among India’s urban youth, who may become more willing to try these brands’ premium watches. Affluent, urban Indians may feel more comfortable about buying premium watches, while continuing to regard luxury watches as examples of overindulgent or insensitive spending. ‘New’ Rich India : The ‘New’ rich India is now indulging into the experience of owning Luxury Brands. India’s rapidly growing high-end retail market is expected to increase from the around $3. 5 billion in 2008 to $30 billion by 2015. Luxury clothing, fragrances, premium wine, high-end watches have achieved good penetration among male Indian consumers. Among women, jewellery and cosmetics can already boast high levels of awareness, followed by categories such as handbags and mobile phones. These items, while not necessarily being better (in quality, performance, or appearance) than their less expensive substitutes, are purchased with the main purpose of displaying wealth or income or status symbol of their owners. There is a distinct shift from ‘Old luxury’ to ‘New luxury’. Old luxury is defined by the attributes, qualities and features of the product, whilst ‘New luxury’ is defined by the consumer’s point of focus on the experience that their purchase stimulates and not in ownership or possession of the product itself. † The customers Redefined luxury as they believe it to be a sign of self worth – â€Å"They are worth it;† it authenticates the buyer’s success and status; it is a signal to others that the owner is a member of an exclusive group; They require flawless performance in this application, the cost of product malfunction is too high to buy anything but the best. Motivation of Study: The matter of wearing and enjoying fine timepieces is a passion that these days must be justified. We like nice expensive watches even though cheap watches exist to do the same thing. Hence like any other luxury good , today modern shoppers buy luxury goods to reward themselves, to satisfy psychological needs or to make themselves feel good to show off their personality or to boost their self-esteem. Contribution of the research: This study aims to understand the above said consumer buying behaviour which will help the present marketing Managers to better reposition their branding and advertising strategy to capture the correct target market for luxury products to boost the sales in times where economy are at a challenge. Literature Review: Research Objective: This study intends to find out if consumer buying behaviour of young purchasers are influenced by factors such as premium price of luxury watches, perceived quality of luxury watches, societal status and brand loyalty associated with the consumption of luxury brand. This study also intends to evaluate whether perceived qualities of the luxury branded watch have influence on the buying decision of consumer. It is also intended to determine whether the high quality standards of luxury watches are the reasoning consumers opt for the luxury watches. Affiliations of social status of acquiring certain luxury branded goods will also be studied to understand whether consumer buying luxury branded goods just for the matter of being affiliate with certain quarters of people having the same luxury brand of goods. This study also will also evaluate whether brand loyalty of luxury brand will influence the buying decision of consumer. This study also aims to uncover whether a person who has been abroad is a reason for the consumer purchasing a luxury watch Research Question: The purpose of this study is to evaluate what motivational factors encourage consumers into purchasing luxury brand watches . In evaluating this statement , this study aims to answer the following questions : †¢ †¢ †¢ †¢ †¢ †¢ Is it the price or the type of users of the brand that drives the buying behaviour of the consumer for luxury branded goods? Is it the strong emotion of discriminating themselves with the lower class consumers that drives higher class consumers to turn to luxury brands? Is it the tag name of a mega brand that drives the long term demand for that luxury brand? Is gender a deterministic factor in deciding the purchase of a luxury brand? If yes then what factors are important gender wise ? Is it the product utility or the brand perception that is key for luxury watch brands? Will a person’s visit abroad influence his decision to purchase a luxury watch? Previous Research contribution : Findings of overall previous research indicate that individual’s preferences plays a key role in purchasing luxury goods. Individual’s preferences may be based on desire and non-desires, which are based on experience in purchasing luxury items from their satisfaction, or nondesire such as bias towards brand products. Leibenstein (1950, p. 188) classified demand of goods and services consumption in relevant to motivation into two main aspects: functional and non-functional. Functional demand is â€Å"demand for a commodity which is due to the qualities inherent in the commodity itself†. On the contrary, demand of goods consumption that comes from other factors, which is not the product quality, is defined non-functional demand. The outcome from Leibenstein’s (1950) study especially stresses the role of interpersonal effects towards luxury brands consumption, and derived three main effects; Veblen, Snob, and Bandwagon INTERPERSONAL EFFECTS Perceived Conspicuous Value Perceived unique Value Perceived Social Value Ostentation Non-Conformity Conformity VEBLENIAN SNOB BANDWAGON Interpersonal effects (Vigenron & Johnson) (1999 p. 7) Veblen Effect: The Veblen effect can be explained through conspicuous consumption in which people feel that it is necessary to purchase luxury products because they have a high price tag (Leibenstein, 1950). Conspicuous consumption is use by people to show wealth, power and status (Veblen, 1899). Prices of product have a significant aspect in consumers’ opinion of quality (Vigneron & Johnson, 1999). Studies by Erickson & Johansson (1995) have shown that price is used to judge quality of luxury products between a range of brands. Usually people would associate high prices with better quality. Additionally, those who do associate high prices with better quality would also suggest that high prices show a considerable amount of prestige (Lichtenstein et al. , 1993). Snob Effect: The snob effect takes into account personal and emotional desires (personal effects), and the influence of other people’s behaviour (interpersonal effects) towards the purchasing of luxury brand products (see Figure 1). The snob effect can be further explained through two circumstances. Firstly, the launch on new products which creates exclusivity in which the snob would purchase the product immediately because a minor amount of consumers at that particular time would have acquired it. Snob consumers only purchase â€Å"limited items that have a high value, whereas those readily available are less desirable. Rare items demand respect and prestige† (Solomon, 1994,p. 570). Products that are viewed as unique, popular, and expensive causes a higher demand for consumers (Verhallen & Robben, 1994), especially snob consumers. Snyder and Fromkin (1977) support the statement by Verhallen and Robben (1994) suggesting that people have the desire to be unique. India:The Affluent Masses: Luxury volumes have been spurred by a significant growth in the rich in recent past. The new rich come in varied shapes, sizes and style quotients. Exporters, multinational bankers, college kids earning plum salaries at call centers or BPO operations, well-heeled corporate wives, and successful entrepreneurs. What they have in common is that they have very high purchasing power Bandwagon Effect : The bandwagon effect represents consumers who purchase luxury products because they wish to fit in with a particular group. For example, people would consume products that are fashionable and stylish to associate themselves to similar people (Berry, 1994). Dubois & Duquesne (1993) explains that the snob and bandwagon effect are not alike. Although the similarity between the bandwagon and the snob effect is that people wish to enhance their self-concepts, the differentiation is that they purchase luxury items for different reasons. Bandwagon consumers purchase items to be fit in with others, whereas snob consumers purchase items to be unique and stand out. Individuals who fit in with groups that purchase luxury brand products and/ or wish to differentiate themselves from people who do not purchase luxury brands are influenced by the bandwagon effect (Vigneron & Johnson,1999) Luxury is reward :First time/New Purchasers :They use luxury goods as a status symbol to say â€Å"I’ve made it! †. They are motivated by their desire to be successful and demonstrate this to others. Luxury brands that have widespread recognition are popular; however they don’t wish to appear lavish or hedonistic in their appearance. They want to purchase â€Å"smart† luxury that exhibit importance while not leaving them open to criticism. Personal Effects : Consuming luxury products can also be from personal desires and taste. PERSONAL EFFECTS Perceived Emotional Value Perceived Quality Value Self-Actualization Reassurance HEDONIST PERFECTIONIST Personal effects (Vigenron & Johnson) (1999 p. 8) Hedonic Effect The hedonic effect occurs when consumers purchase luxury products and value the item. People who purchase items for self-fulfillment (e. g.inner direct consumers, Riesman, et al. , 1950, or role relaxed consumers, Kahle, 1995), and those who are not affected by interpersonal influences (e. g. conforming to group norms,Bearden, et al. , 1989) represent the hedonic effect. Dichter (1960) explains that motivation of noncognitive and unconscious is able to persuade consumer preference of products. Products that are consumed are known to have an emotional value that is added to their character (Vigneron & Johnson, 1999). When consumers purchase luxury products they expect that the item will offer benefits such as exclusiveness. Dubois & Laurent, (1994) stated that if products create an emotional value for consumers, it represents that the product is beneficial and holds an important characteristic. Perfectionist Effect The perfectionist effect exists when consumers purchase luxury items and expects superior products and performance as well as quality (Vigneron & Johnson,1999). People who represent the perfectionist effect are those who are associated to personal values and judge a product according to their value of a luxury band product. An example of the perfectionist effect is when consumers are purchasing a luxury watch they expect it to be accurate. According to Groth and McDaniel, (1993, p. 10) stated that â€Å"high prices may even make certain products or service more desirable†, because people view products with high prices with great quality (Rao & Monroe, 1989). Additionally, consumers may assess the level of how luxury a product is by its quality (Vigneron and Johnson, 1999). Methodology Research Method: Quantitative data consists of closed end information that includes numerical figures. The study has collected quantitative data by applying closed-end questions towards a questionnaire. Focus Group Discussion to understand attributes both physical and emotional that influence the purchase of a luxury watch. The group comprised of 7 individuals , 3 female and 4 male participants who have been users of luxury watches. Data Collection: Primary Data collection: Gathering information from consumers of luxury watches through online questionnaire survey Secondary Data Collection: Research insights and hypothesis design with the help of previously published research work on luxury goods buying behaviour. Sampling: Non-probability sampling method is adopted. Since the target audience or respondents of interest are consumers of premium or luxury watches, the sampling method adopted here is convenience sampling and snow-ball sampling. Measurement & Scaling: Measurement Techniques used ? Perception map : ? Utility of features in the watch : Chronograph, Double dial, Indicator light etc. ? Stylish Designs that make the watch a fashion statement Respondents were asked to rate the 10 different brands in order to obtain their perception of these brands on the above defined dimensions Based on two predefined dimensions i. e ? ? ? Exploratory Factor Analysis : To understand the underlying factors influencing the purchase behaviour of luxury watch for men & women and overall Regression: To understand which interpersonal & personal effect is critical when consumers make a luxury watch purchase decision Discriminant Analysis: To understand the group behaviours based on the following discriminating variable ? Gender ? Trip abroad ? Work Experience:Purchasing power ? AMOS : Confirmatory Factor analysis to ascertain the Exploratory Factor Analysis RESULT AND ANALYSIS 1. Discriminant Analysis: Work-Ex & Fresher Inference: Wilk’s lambda (0.627) is more than 0. 4 which is not significant; Box M test is also insignificant However based on analysis top 5 attributes discriminating work ex & fresher are Attributes Q5_7_attribute_analog Q5_2_attribute_alarm Q5_12_attribute_torch Q5_9__attribute_calculator Q4_8_attribute_celebrity_endorsement Variable weight of discriminating function -. 366 . 361 . 331 . 271 . 262 2. Discriminant Analysis: Gender Inference: Wilk’s lambda (0. 578) is more than 0. 4 which is not significant; based on analysis top 5 attributes discriminating males & females Attributes Variable weight of discriminating function. Q4_3_attrifashion_statement Q5_3_attribute_dualclock Q5_13_attribute_barometer Q5_8_attribute_motionsensor Q9_2_buy_in_store .329 -. 285 -. 269 -. 259 -. 255 3. Discriminant Analysis: Abroad Visit Inference: Wilk’s lambda (0. 573) is more than 0. 4 which is not significant; however based on analysis top 5 attributes discriminating foreign visited and not visited people Attributes Q5_9__attribute_calculator Q5_6_attribute_color Q5_16_attribute_warranty Q5_11_attribute_straptype Q4_9_attribute_brand_image Variable weight of discriminating function . 228 . 225 . 221 -. 207 -. 205 3) Exploratory Factor Analysis-(Male & Female) Research Question:- Is gender a deterministic factor in deciding the purchase of the luxury watch. If yes what factors are important gender wise? Hypothesis:- Women while making luxury goods purchase give more importance to emotional factors whereas Men go for Physical Utility features Factor analysis for male respndents(58 males) Results:? ? ? ? ? ? ? ? Fac1(Ostentation): o o o o o o o o ? ? ? ? ? ? Sth to remmeber, hand gesture, to be unique Fac2(value added feature) Calculator,digital,compass. Fac3(Generic requirements) Shape, water resistance Fac4(Economic requirements) Discounts Fac 5(Tech savvy) Compass, Motion sensor Fac 6(basic) Analog,water resistance Fac 7(Wrist suitability) Strap type Fac 8(extra feautres):Date and day display, brand image Exploratory factor analysis female Respondents (23 females):Fac1(Economical): o o o o o o Warranty, after sales, analog, emotional satisfaction Fac2(Style) Social status, to be unique, fashion statement Fac3(Special requirements) Alarm,altimeter, digital,dual clock Fac4(value added feature) Calculator,compass,barometer, torch. Fac 5(Tech savvy) Hand gesture,discount Fac 6(Exclusivity) Motion sensor,alarm,brand image Result Analysis:? Men:o Attach importance to Ostentaion, value added feaures and style(veblenian effect and perfectionist effect are dominating) ? Women:o Style, Economic attributes an generic requirements ( Hedonist and snob effects dominate 4. Checking the Interpersonal and personal effects shown by males and female while purchase of luxury watch in Store Research Question:o Is it the price or the type of users of the brand that drives the buying behaviour of the consumer for luxury branded goods? o Is it the strong emotion of discriminating themselves with the lower class consumers that drives higher class consumers to turn to luxury brands? o Is it the product utility or the brand perception that is key for luxury watch brands? Hypothesis:-Luxury watch purchase is primarily to show off and as an indicator of status symbol: veneblian effect. Users also buy luxury watches due to perceived emotional value or for hedonist reasons Veneblian Effect:- Snob Effect Bandwagon Effect Hedonistic effect Type of effect Veneblian snob Bandwagon Hedonistic Coefficient 0. 517 0. 499 0. 274 0. 305. Inference:- As we can clearly observe from the above table that the veneblian effect is very prominent in all cases of interpersonal or personal effects. That means People tend to buy Luxury watches to show off of their Public and Social Status. Snob and Bandwagon effect follows Veneblian effect. 5. Regression Analysis to check whether long term demand for luxury watches is driven by brand image Research Question : Is it the brand image that drives the long term demand for that luxury brand? Hypothesis : Brand Image for lucury brands is responsible for the long term demand of these watches. Inference : Regression is insignificant with respect to the variables that drive brand image. Even the R^square value is 0. 071. Hence we can infer that brand image is not a good factor to explain the long term demand for luxury watches. 6. AMOS The default model is created based on exploratory factor analysis and taking research literature into account. Model Fit Summary Check: Cmin/DF 2-5 OK GFI > 0. 9 Not OK PGFI>0. 5 OK NFI,TLI,CFI>0. 9 Not OK RMSEA max 0. 1 Not OK Model is comparatively fit as such But Goodness of fit index is not holding well. Validity & Construct Reliability S No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Attributes Q4_1_attribute_social_status Q4_3_attribute_fashion_statement Q4_2_attribute_to_be_unique Q4_6_attribute_emotional_satisfaction Q4_9_attribute_brand_image Q5_9__attribute_calculator Q5_10_attribute_compass Q5_12_attribute_torch Q5_13_attribute_barometer Q5_3_attribute_dualclock Q5_4_attribute_altimeter Q5_2_attribute_alarm Q5_5_attribute_digital Q5_7_attribute_analog Q5_8_attribute_motionsensor Q5_16_attribute_warranty Q4_10_attribute_secon_time_brandpurchase Q4_4_attribute_premiumwatch_collection Q4_8_attribute_celebrity_endorsements. Constructs Error e1 e2 Delta 1. 028 1. 079 0. 608 0. 635 1. 282 1. 323 1. 687 1. 473 1. 793 1. 816 1. 032 2. 133 1. 407 1. 074 2. 078 0. 179 1. 402 1. 367 2. 019 Lambda 1 0. 67 0. 922 0. 884 0. 997 1 0. 912 0. 971 0. 774 1 1. 135 1. 005 1. 258 1 0. 876 0. 84 0. 403 1. 231 1 AVE CR Exclusivity e3 e4 e5 e6 e7 0. 81 0. 81 Tech_Savvy e8 e9 e14 0. 84 0. 68 Value_Added _Feature e15 e16 e17 e21 1. 22 0. 75 Reliability e22 e23 e26 0. 82 0. 69 Brand_Perce ption.

Incarceration Of The United States - 908 Words

When the term corrections is mentioned, the thought of incarceration is the first to come to mind. This is the case for as of the end of 2013, there were 1,574,700 people serving time in state and federal penitentiaries (Carson, 2014, p.1). This alarming number gives reason for the need of alternatives to incarceration. Avoiding imprisonment does not translate to a lenient punitive sentence for the alternatives can just as easily repair harms to the victims, provide benefits to the community, treat the drug addicted, and rehabilitate offenders (FAMM, 2013, p.1). The use of programs that offer an alternative to incarceration can reduce the amount of people in the prison system that is living on taxpayers’ dollars. The enlistment in the military is a viable option as an alternative to incarceration. The goal of rehabilitation is a change in the behavior of the convict and the enlistment of said individual offers just that in more ways than one. The sociology theory of the life c ourse roughly translates to that over a course of life, one abandons its old ways of life in order to adopt to a new way of life or a social structure (Shepard, 2013, p.95). In total institutions, where one is completely removed from society such as military boot camps or prisons, the individual’s self-concept begins to facture by the replacement of their personal identities with concepts of shared identities such as wearing uniforms or the use of serial numbers instead of names. Once the self-conceptShow MoreRelatedThe Incarceration Of The United States1519 Words   |  7 Pagesin recent decades, violent crimes in the United States of America have been on a steady decline, however, the number of people in the United States under some form of correctional control is reaching towering heights and reaching record proportions. In the last thirty years, the incarceration rates in the United States has skyrocketed; the numbers roughly quadrupled from around five hundred thousand to more than 2 million people. (NAACP)In a speech on criminal justice at Columbia University, HillaryRead MoreThe Incarceration Of The United States980 Words   |  4 PagesHave you ever questioned about the justice in the United States? Stevenson states that, â€Å"Today we have the highest rate of incarceration in the world. The prison population has increased from 300,000 people in the early 1970s to 2.3 million people today† (15). United States is a modern country that doesn’t serve justice to her citizen? 2.3 million prisoners are just embarrassing the whole country. You might want to know how bad the justice system is and how the heck cause 2.3 million prisoners toRead MoreIncarceration Of The United States Essay2335 Words   |  10 PagesEven though the United States makes up just 5% of the world’s population, it houses 25% of the world’s prison population† (Walmsley, 2009). The United States prides itself in being a worldwide leader in j ust about every category; however, being the world leader in incarceration rights might not be something the United States would be proud about. Incarceration rates in the United States have grown at alarming rates in the past forty years specifically and it has resulted in major overcrowding issuesRead MoreThe Incarceration Of The United States979 Words   |  4 PagesHave you ever question about the justice in the United States? Stevenson states that, â€Å"Today we have the highest rate of incarceration in the world. The prison population has increased from 300,000 people in the early 1970s to 2.3 million people today† (15). Is United States is a modern country that doesn’t serve justice to her citizen? 2.3 million of prisoners are just embarrassing the whole country. You might want to know how bad the justice system is and how the heck cause 2.3 million prisonersRead MoreIncarceration Of The United States1113 Words   |  5 Pages The United States of America has more people incarcerated than any other country on earth, a whopping 2,220,300 adults are currently locked behind bars. We have 500,000 more citizens locked up than China, a country 5 times our population run by an authoritarian government. From 1990 - 2000 the prison population increased by 1,000,000. The main reason for incarceration as a punishment in this country is rehabilitation, or so we have been told. In recent years an industry has developed that revolvesRead MoreThe Incarceration Of The United States1044 Words   |  5 PagesOverview The United States has the highest prison population in the world, with over two million incarcerated (World Prison Brief, 2016), of whom many are juveniles. It is well documented that youths who enter this system are more likely to suffer a host of negative health and lifestyle outcomes, such as alcohol/drug abuse, high school dropout, and mental health problems. Such phenomena occur in stark contrast with the aims of the US juvenile justice system, which supposedly intends to help offendingRead MoreIncarceration Of The United States1957 Words   |  8 Pages Incarceration has been a pending issue amongst western civilization’s history for some time and today continues to raise a wide range of important questions. Incarceration of individuals have become a tremendous tax payer concern along with the incarceration of the drug war, convictions of street gangs, and the rest of the individuals who have broken the law and harmed other innocent individuals. However, the question is always a concern of men incarceration and hardly addressed of women beingRead MoreIncarceration Of The United States3014 Words   |  13 PagesThe United States of America is phrased by many, as being â€Å"the land of the free.† Yet, the Unites States currently has the highest per capita prison population than any other country. The United States makes up only 5% of the world’s population and of that 5%, 25% of our overall nation’s population is currently incarcerated. A few factors that attribute to our high rates of incarceration incl ude, sentencing laws: such as mandatory- minimum sentencing, lack of initial deterrence from crime, the warRead MoreThe Incarceration Of The United States2529 Words   |  11 PagesSince 2002, The United States has had the highest incarceration rate in the world, and many of those imprisoned within the U.S. will be released and rearrested within three years (Langan Levin, 2002). Unfortunately, research has been mixed shown that the time spent in prison does not successfully rehabilitate most inmates, and the majority of criminals return to a life of crime almost immediately. Most experts believe that many prisoners will learn more and better ways to commit crimes while theyRead MoreIncarceration Of The United States1745 Words   |  7 PagesThere are over two million people in the United States behind bars. Incarceration in the US is one of the main forms of punishment that leads nothing after for people when getting out. Every state, city, country, all have laws we citizens obey and go by to do best for our country, but what happens someone violates the law? According to Google’s definition of a felony, it says that felony means, â€Å"a crime, typically one involving violence, regarded as more serious than a misdemeanor, and usually punishable