Behavioural Aspect of Budgeting in Public Sector Essay

Budgets are part of management control designed to promote the efficient use of resources and providing support for other critical functions. The extent to which any budget is successful is very much dependant on its acceptance and the attitudes of workers towards it. This paper focuses on the crucial role of the behavioural aspects of budgeting and how an understanding of its importance can contribute to a successful budgeting process. It describes the nature of budgeting and analyses the budgeting process in organisations. The paper shows why budgeting is important to firms and describes the impact budgeting has on human behaviour such as motivation and dysfunctional behaviour. The behavioural aspects of the budgeting process are also examined. Finally, the public sector budgeting process is analysed, focussing on the need to tackle Beyond Budgeting issues in the 21st century whereby organisations budget without a budget. In the literature review, it was found that there was no perfect means of ensuring a successful budgeting process but there was general agreement in many areas of how the process might successfully assist. As with most concepts, there were mixed opinions on some issues such as benefits of participation as opposed to non-participation. What was common is the view that the budgeting process in particular and management control systems in general cannot afford to ignore the impact of behaviour on these processes. Key words: Beyond Budgeting; behavioural aspects; budget and human behaviour; budgeting process; and public sector/service budgets The Nature of Budgeting Almost every enterprise, regardless of size, complexity or sector, relies heavily on budgets and budgetary systems to achieve strategic goals. The success and importance of budgeting relates to the identification of organisational goals, allocation of responsibilities for achieving these goals, and consequently its execution (Shah 2007; Robinson 2007; Drake and Fabozzi 2010). It is one of the most successful and useful management accounting techniques that can reap handsome rewards if properly understood and implemented. The process of budgeting involves setting strategic goals and objectives and developing forecasts for revenues, costs, production, cash flows and other important factors (Jr. Bierman 2010; and Bonner 2008). By putting together a financing and investment strategy in place, this will allow those responsible for financing of the company to determine what investment can be made and how these investments will be financed. â€Å"In other words, budgeting pulls together decisions regarding capital budgeting, capital structure, and working capital.† (Drake and Fabozzi 2010: 115). The end result of the process is the production of the formal document referred to as a â€Å"budget†.

The Sow

In Sylvia Plath’s poem the Sow, the fascinated narrator describes his encounter with his neighbors pig for the first time. Sylvia Plath uses diction and allusions to describe the sow from the narrator’s perspective. The poem also features an attitude shift towards the pig from this mysterious prize to this disappointing pig. The poem starts off with an aura of mystery. She describes the neighbor’s behavior using words and phrases like â€Å"shrewd secret† and â€Å"impounded from public stare. You can tell that the neighbor is trying to hide his ribbon winning pig from the public and that he is very proud of his pig. The narrator is very curious as to what this ribbon winning pig looks like. He is so curious to the point that he is commended to find his way through the â€Å"lantern-lit maze of barns† to see this pig. When he sees the pig for the first time the mood of the poem shifts. When he sees the pig for the first time he, it’s not wha t he had expected.He says â€Å"this was no rose-and-larkspurred china† which implies the imperfections he finds with the pig. As he begins to describe the pig, his tone changes from wonder to pity for the pig. He describes the pig as a â€Å"Brobdingnag bulk† to describe how big this pig is by comparing it to the giants that live in Jonathan Swifts book Gulliver’s Travels. He sees this pig as this fat pig that can barely move, and is slowly rotting away, â€Å"on that black compost, fat-rutted eyes dream filled†.He also compares the pig to an â€Å"our marvel blazoned a knight, helmed, in cuirass, unhorsed and shredded in the grove of combat by a grisly-bristled boar†. He sees the fat of the pig as armor and its scars as to those of battle wounds. Sylvia Plath was able to show the different thoughts the narrator has of his neighbors pig. She is able to show us how the narrator thinks that this pig is this magnificent creature even though itâ€℠¢s not. Through diction, comparisons, and allusions Sylvia Plath is able to show us what the narrator is seeing and feeling though out the poem.

Gang Violence

Teen Gang Violence If I could change the world, I would definitely leave out the gang violence. I wonder why teens join gangs. I’ve seen some of my friends join gangs and I wonder why they joined. Did they think they were going to be famous? Did they think everyone was going to know them now and want to invite them to special events? Or did they want to sell drugs on their block and become hood rich? I grew up in the city of Blytheville, Arkansas, where a lot of kids find trouble. Gangs are becoming a growing problem in American society. More young people are turning to gangs to solve problems in their lives.When youth join gangs, they forget about their family, real friends, and even school. In Blytheville, gangs cause teenagers to act violently. When you are in a gang, you also have rival gangs that you constantly have to fight, just because you don’t want another gang in your territory. Some teens think that being in a gang will give them protection. I believe being in a gang increases your chances of being killed or hurt badly. Besides the violence that is involved in being in a gang, teens also get involved in illegal activities such as the use and selling of drugs.Gangs make you carry out illegal activities to make money. One of these activities is selling marijuana mainly. In my city, some members are big time dealers, while others just work the corners. It’s a part in my town that does a lot of killing and selling drugs. That is not good role modeling for the young people. In what shouldn't surprise anyone who has thought even the least bit about these sorts of issues, a lack of positive role models in their lives is  leading to gang membership. (ParentDish) Some children probably grew up where they saw people selling drugs and killing.They said, â€Å"When I get older I want to be just like that†. When you’re young you don’t really know the consequences of being in a gang. I never understood the meaning of ga ngs. You have to have tons of people who might have your back, but the key word was â€Å"might†. I know many people that don’t need to be in a gang. They’re in it just to fit in. That is just horrible in my book. I remember we had to read a book about gangs in high school. This book was called Gangs, Groups, Cults. It’s about a kid name Donte. He was a bright teenager who finished school and didn’t do anything after high school. So he oined a gang because he said, â€Å"Cool, but what do I do once I get out of school? You know? I did my daily deed to keep from getting thrown out of the house, but no I’m walking around the neighborhood and I don’t have anything to do† (Bradley 75). Since Donte had nothing better to do, he figured that it would be okay to join a gang. Boredom causes teenagers to join gangs, as well as wrecking havoc in the streets. Boredom can cause teens to join gangs, and so does bad parents. A lot of times wh en a kid’s family is messed up, they end up spending more time on the streets, and the gang becomes like their second family.Maybe they only have a mom and she has drug problems, or is never around or very strict on him/her. Maybe they have a dad that is never around, or is on drugs. Some kids suffer through home life with parents who are always drunk on alcohol and they don’t really know their parents. So they meet older gang members that give them money and make them feel like a little brother or even a son. According to The National Gang Center and The Office of Juvenile Justice and Delinquency Prevention, boys are more involved in gangs than girls; however you might be surprised to find out that the number of female gang members is rapidly increasing. Psychology Today) Many parents of teenage girls do not consider gang activity to be something they should worry about very much. Unfortunately, I’ve witness teenage girls getting more and more involved in gangs . Not only in Blytheville, this is occurring in the larger cities, and other smaller cities and towns as well. Gangs rely on their girl for many dangerous activities that can result in teen girls going to prison or worse. Maybe they believe she want get as much time for a crime as a male would. Teens that are in gangs are much more likely to suffer from gun violence, whether it's injury or death.As a gang member, you can look forward to at least one shooting. In some cities, many teens that were killed by guns are gang members. Most likely, they were shooting at other gang members, who will not hesitate to shoot back. According to the National Youth Violence Prevention Resource Center, youth gangs have about 772,000 members nationwide, with half of them being teens under 18. (eHow) Teenagers love this life because they feel powerful, rich, and respected at a young age. They think they’re going to become rich and gang famous. The older guys that are or were in a gang are known as â€Å"OG’s†, know the opposite.I’m pretty sure they’re regretting everything like the choices they made getting into the gang in the first place back in the day. A lot of OG’s have spent their whole lives in and out of jail, and are out on the street asking for money, all because the gang life took away a lot of opportunities they could have had when they were younger. The world doesn’t need this kind of activity going on. We have bigger problems to deal with, other than killing and harming each other. Parents need to tell their children how much they love them each and every day.

High-commitment HRM is more rhetoric than reality Essay

High-commitment HRM is more rhetoric than reality - Essay Example The paper tells that the term high commitment HRM can be defined as a set of HR policies and practices which are aimed to bring performance improvement in all the organization. There are various components of high quality HRM policies which are described below. Employee is the most primary element of the human resource management. One of the major component which deals with the high commitment HRM is regarding their security and the internal condition of the labor market. Employment security has been regarded as a high matter of concern because organizations cannot demand the best of the employee’s performance and dedication without providing them security and having concern for their career. Providing of employment security enhances the employment relationship. The most significant factor about the inclusion of employments security in the human resource policies is that it aims at eliminating job reductions and the employee’s expectation from the organization reaches a substantial level. Such policies also bring in to fact that the human resource management aims to highlight that they do not treat the workers of the organizations as variable cost but rather treat them as an asset who had their major contribution towards the organizational development. High commitment HRM also specifies that the employees hired in the organization through the selective recruitment process needs to be undergone through extensive training sessions to have a clear knowledge regarding their roles and the working of the organization. ... t significant factor about the inclusion of employments security in the human resource policies is that it aims at eliminating job reductions and the employee’s expectation from the organization reaches a substantial level. Such policies also bring in to fact that the human resource management aims to highlight that they do not treat the workers of the organizations as variable cost but rather treat them as an asset who had their major contribution towards the organizational development. High commitment HRM also specifies that the employees hired in the organization through the selective recruitment process needs to be undergone through extensive training sessions to have a clear knowledge regarding their roles and the working of the organization. Much importance has been stressed on the importance of the individual and organizational learning. Skill specific forms of training are being suggested in the principle of high commitment human resource management. Providing employee s with the necessary training also contributes to their overall development. Employee involvement and sharing of information among them also appears to be one of the vital components of the high commitment HRM. Sharing of information relating to organizational performance and financial matters will provide the employees with the updated information and would also be helpful in conveying the message that the employees are trusted and treated in an open environment with a positive manner. Employee participation can also be helpful for the management in providing them with legitimacy for their actions. Employee information and participation involves downward communication, problem solving groups which are designed to increase the rate of the employee participation. The importance of employee voice

Vomiting Reflex Essay Example | Topics and Well Written Essays - 250 words

Vomiting Reflex - Essay Example This means that it can receive direct emetogenic stimulation from the cerebrospinal fluid and blood. The CTZ sends impulses to the vomiting impulses to the vomiting centre. The process of vomiting includes the retching and the expulsive phase. In the retching phase, the vomiting centre transmits motor efferent impulses to the abdominal muscles and the diaphragm resulting in increased intra-abdominal pressure. It also results in anti-peristalsis forces that can go all the way to the duodenum and ileum. Gastric content accumulates in the stomach resulting in relaxation of the lower esophageal sphincter (John, 2010). This is accompanied by hypersalivation, increased heart rate and sweating through the parasympathetic outflow. The hyoid bone and the larynx are elevated so as to open the upper esophageal sphincter. This is followed by the closure of the glottis. The increased intra-abdominal pressure and anti-peristalsis forces results in the expulsion of the abdominal contents. The following is a flow chart demonstrating the vomiting reflex. The contents and color of the vomitus may be used to diagnosis the cause of vomiting. Bleeding from the esophagus is showed by the presence of fresh blood in the vomitus. When the blood originates from the stomach, for example, perforated peptic ulcer, the vomitus has coffee ground appearance. This is because the acid found in the stomach reacts with the iron found in hemoglobin. Presence of bile in the vomitus indicates that the pyloric valve is open. This means that there is massive contraction of the duodenum leading to expulsion of bile (John, 2010). Fecal content in the vomitus indicates a gastrocolic fistula or intestinal obstruction. In case of intestinal obstruction, the vomiting relieves the associated abdominal pain and distension. These features are used to determine the origin of pathology in the gastrointestinal

Fund Transfer Pricing Essay Example | Topics and Well Written Essays - 500 words

Fund Transfer Pricing - Essay Example A method used to measure the performance and profitability of banks, therefore, should put into consideration the deposits and loans by banks thus considering the net interest. FTP is a management control technique that is used to calculate the true NIL component of profitability of business units, products, portfolios, and customers (Suresh 2010). It is used to calculate the cost of funding assets and credit for funds provided inform of deposits. This is mainly the net interest which is used in the income statement and balance sheet that consists of loans generated on the asset side and funds purchased from transfer funds pool on the liability side. Fund transfer pricing is a method that banks use to internally measure, allocate and assign profit contribution value to funds collected from customer deposit, given out as loans to customers (Singh & Dutta 2013). Therefore, FTP is a component in measuring the profitability of banks since the net interest margins arrived at, as a result, is what contributes to the determination of performance and profitability of banks. FTP reflects perspective market prices, including maturities and repricing characteristics of corresponding assets and liabilities (Greuning & Brajovic 2003). It, therefore, helps the banks to determine the value of their assets in the capital markets and this further helps the banks in their investment decisions that are meant to increase their lending capacity. In addition, FTP places cost of use of capital inherent in the extension of credit to an obligor (Gross, 2006). In this way, it determines the profitability of customers, which helps the banks in making lending decisions. FTP helps to calculate the cost of the portfolio, which helps the bank in making loans and lending decisions (Saita 2007). FTP determines a banking portfolio and transfer prices that apply to loans and deposit collection (Blessis 2014). Determination of portfolio helps banks to determine how much they can lend.

Common assessment Essay Example | Topics and Well Written Essays - 1250 words

Common assessment - Essay Example In the United States, it is the Financial Accounting Standards Board (FASB) that sets the GAAP standards for private firms while it is the IASB sets principles for international accountants (Horngren et al, 2008). Compliance with GAAP is mandatory by every business operating in the USA. Corporations that are public companies are closely monitored by the Securities and Exchange Commission (SEC) to ensure their compliance to GAAP. II. GAAP and description of the accounting principles In the GAAP there exists accounting principles which also serves as measurements of conventions that are significant which are cost recording, revenue recognition and the matching principle. The recognition principle states that a company records revenues in its accounts only when it has earned and realized the revenue (Horngren et al, 2008 p.703). Revenues therefore cannot be recognized if it has not been earned. A second important convention is the matching principle which states that revenues must be li nked to the expenses associated with them. Accountants apply the matching principle by identifying the revenue recognized during a period and by linking the expenses to the recognized revenue directly ( Horngren, 2008 p.703). The Cost Principle This GAAP accounting principle states that the recording of cost must be at their fair market price. Fair market price is determined by the amount reflected on documents accompanying the goods and/or services to ensure objectivity and accuracy of accounting when purchases are made. The effect of this costing principle on assets is that its value will not change until the market value of the asset changes. To effect this change in the books according to GAAP principle, a new require a new transaction as an evidence to effect the change of the value of the asset. In cases where objective evidence is not available to ascertain cost, the transaction can instead be recorded at its fair market value as determined by a third party appraiser (McKeown , 1973). The Revenue Recognition Convention The recognition principle states that a company records revenues in its accounts only when it has earned and realized the revenue (Horngren, 2008 p.703). Revenue cannot be recognized if it has not been earned. This principle states that revenue must only be completed and recorded into a company’s books when the transaction is already completed. This means that revenue will only be recorded once actual payment is received. On occasions when transactions involve huge projects which take a very long time to finish such as construction of buildings, revenue is done an accrual basis whereby it will bill its client on periodic basis on the amount of work that has been done or completed and recognize the revenue even if there is still work in progress (Klueh, 2009). Recognizing revenue correctly is important to the accuracy of the financial statements because earning is a critical aspect of a financial statement which can affect the compan y’s many stakeholders. The Matching Principle A second important convention is the matching principle which states that revenues must be linked to the expenses associated with them. Accountants apply the matching principle by identifying the revenue recognized during a period and by linking the expenses to the recognized revenue directly (Horngren, 2008 p.703). This can be likened to the revenue recognition principle whereby expenses related to the revenue that were earned during a certain accounting period must be reflected in the books of the

Questionnaire Essay Example | Topics and Well Written Essays - 1000 words - 2

Questionnaire - Essay Example derage Drinking, 2006) Even though drinking is prohibited legally for under aged children in many countries, it is a well known fact that many children usually consumes alcohol before they reaches the legal age for drinking. Under aged children many not have the maturity to control their emotions under the influence of alcohol and hence there is an increased probability for them to engage in anti social activities and hence this research has immense importance in contemporary society. â€Å"It is now commonly believed that the average young person will have seen 100,000 beer commercials between the age of two and eighteen† (Hanson, 1997) The legal age for drinking is different in different countries; ranging from 0 to 21. United States has the highest drinking age in the world where only those who have completed 21 years of age can drink legally. But in countries like China, Thailand and Viet Nam, there is no age restriction for drinking. In Austria Italy like countries the legal age for drinking is 16 whereas in Argentina and Israel it is 18 years. (Hanson, 1997) The questionnaire has been made simple and multiple choices were given to make the answer simple. The questions were made after discussions with some experts who have already studied this subject. This research has been conducted mainly online. The questionnaire given at the end of this paper has been published on internet and the data collected from the respondents. Children who are from UK, between the ages of 12 – 18 were asked to participate in this research. This research was limited to UK children in order to standardize the results. Moreover around 2000 children of the same age group have been approached directly by visiting schools located at different parts of the country and collected information regarding their drinking habits. All in all around 12500 data has been collected totally. The data has showed that around 6750 (54%) of the respondents drink at least once daily. Around 3200

Watsons Caring Model Essay Example | Topics and Well Written Essays - 1000 words

Watsons Caring Model - Essay Example More so, professional nurses need to attend to patients with a positive regard and show them unconditional acceptance. Most importantly, Watson suggests that nurses need to spend time with the patients, which he calls caring moment. Watson believes that competent nurses and how they attend to patients makes the patients to feel secure; therefore, according to Watson’s caring model, nurses caring relationship with patients positively relates with the patients quick recovery, quality life and prolongation of life. Watson’s model argues that caring is the essence of nursing as it helps patients to find hope and meaning in sickness and suffering. This essay explores Watsons caring model focusing on the concepts and sub concepts of the theory, the generality of the theory and how it is applied across the culture, and lastly the impacts and its continuing influence. The key components of Watsons caring model include â€Å"carative factors, a transpersonal caring relationship, and caring moments or occasion† (Lachman, 2012). To begin with, carative factors include showing love, kindness and concern displaying sensitivity to oneself and other people’s. More so, carative factors covers understanding and accepting other people’s emotions, feelings and perceptions and convincing them to share their feelings and views, and also establishing supportive and protective environment for the patients. Furthermore, providing basic human needs, spiritual as well as the existential needs of the patient and effectively use interpersonal communication skills to establish trusting and caring relationships also serve as part of carative (Basford and Slevin, 2003). Watson caring model suggest that patients need to be helped in the creative use of self as part of caring (De and Anderson, 2008). Nevertheless, a transpersonal caring interaction c omes in when both the nurse and patient are looking

Tax Breaks as Spending Article Example | Topics and Well Written Essays - 750 words

Tax Breaks as Spending - Article Example The tax code in the United States also offers help by giving parents tax breaks to pay for child care. A reduction in the taxes families has to pay puts more money in the hands of American citizens. There is a tax break that exists that allows parents to put aside $5,000 to pay for child care. Those wages escape the burden of being taxable income. The effect of this tax break for people that are in the 25% tax bracket is $1,250 a year in savings, while parents in the 39.6% tax bracket are able to save $1,980. The Child and Dependent Care Tax Credit provide families with a tax credit of up to $6,000 to cover eligible child-care expenses. These two tax breaks have the effect of saving American families $3.1 billion in taxes. The use of direct subsidies benefits more low-income families, while tax breaks target middle income and upper-income households. A second major way in which the government gives back to the community is through student aid. The subsidy mechanism that is used to he lp out students of low-income families is the Pell Grant. On the tax side, there are numerous credits and deductions for education purposes that benefit middle and upper-income families. Not all tax breaks are considered spending. For instance, the lower tax rate on dividends is not considered spending. The reason for the lower tax rate on dividends is to offset the effect of double taxation. It is estimated that nearly 67% of all tax breaks in the United States are a form of spending in disguise.... The Child and Dependent Care Tax Credit provide families with a tax credit of up to $6,000 to cover eligible child-care expenses. These two tax breaks have the effect of saving American families $3.1 billion in taxes. The use of direct subsidies benefit more low income families, while tax breaks target middle income and upper income households. A second major way in which the government gives back to the community is through student aid. The subsidy mechanism that is used to help out students of low income families is the Pell Grant. On the tax side there are numerous credits and deductions for education purposes that benefit middle and upper income families. Not all tax breaks are considered spending. For instance the lower tax rate on dividends is not considered spending. The reason for the lower tax rate on dividends is to offset the effect of double taxation. It is estimated that nearly 67% of all tax breaks in the United States are a form of spending in disguise. The article pro vides a very interesting discussion about the effect of tax breaks and subsidies in America. Most people do not realize that the government is hiding its spending through the tax code. The actions of the government should be praised since the government is looking for ways to help out poor people and provide social justice. A more detailed discussion about the effect the government’s strategy has on the national deficit would have made this article better. Barack Obama has to negotiate a deal with the Republicans to ensure the economic future of the nation. It is imperative for the government to continue to help out poor parents that can not afford child care. These types of incentives allow a lot of people to join the

Persuasive Speech-Skin Cancer Essay Example | Topics and Well Written Essays - 750 words

Persuasive Speech-Skin Cancer - Essay Example What makes cancer lethal is the fact that an inflicted individual wouldn’t feel its negative effects until it the abnormal cells have already grown so much. Skin cancers, for example, may appear on normal skin, or may develop from moles that were present at birth. For such diseases that only physically manifest in its deleterious stages, one should know the risk factors predisposing us to developing them, the steps that can be taken to ensure that we do not have them, and the treatment options once we are positive for having the disease. In battling any kind of diseases, prevention is always better than cure. To avoid melanomas, one must first know whether he or she is more likely to develop the skin lesion than others. Skin cancers can happen at any age, but elderly individuals are more susceptible to developing melanomas than younger people do. Caucasians, who have fair skin, blue or green eyes, and red or blond hair, also have a higher tendency to develop the skin disease. On the other hand, the type of melanoma commonly seen on soles, palms, or under the nails usually develops in African Americans. Aside from the abovementioned predispositions, it is also especially important for individuals with a past medical history of blistering sunburns, family history of melanomas, occupation requiring prolonged sun exposure, residence in high altitude places or sunny climates, immunodeficiency, or multiple birthmarks, to watch out for skin cancer. For people at risk, it is necessary to avoid tanning devices, arsenic, coal tar, and creosote. Because melanomas can appear on anyone, it is important to distinguish from all other body marks the one most likely to be cancerous. Early detection of a cancerous growth is vital in the success of treatment, and subsequent survival of the patient. Fortunately, self-examination can be performed using the following easy-to-remember ABCD symptoms of melanoma: A for asymmetrical, B for undefined borders, C for mixture of colo rs, and D for diameter of more than 6 mm. Self-examination using these symptoms should be conducted monthly, and an in-depth, formal skin exam by a dermatologist should be requested yearly. Once a suspicious body mark has been found, there is no reason to be depressed. Medical procedures are already present to ensure that individuals with melanomas can combat these cancer cells successfully. First, a biopsy, or removal of the whole or part of the mass, sentinel lymph node biopsy, X-ray, and or CT scan will be done to determine the extent of migration of melanoma. These medical procedures determine the extent of the growth of cancer cells. This is important to allow the patient have an informed decision with regards to the means by which the cancer cells are removed from the body. Through the years, treatment options for skin cancer has steadily increased and improved. Surgery is the treatment of choice for melanomas that have not yet migrated to other parts of the body. If cancer ce lls were found to other parts of the body, chemotherapy or radiation therapy may supplement the surgery to ensure that no cancer cell mass is left inside. These treatment options have high success rates, especially when melanomas are detected in its early stages. In addition, patients can participate in experiments testing novel drugs for cancer. With the continuing advancement of

Brave New World and Ethics Essay Example for Free

Brave New World and Ethics Essay Barely peeking over the horizon the barren landscape sparkled as rays of light pierced the darkness driving away the aches and pain from their tired bodies. Straining his eyes he saw the river glowing far in the distance looking so harmless in daylight. Shuddering softly the dark churning waters of the previous night haunted him as he look at the serene form of his wife as she lay in fitful slumber. Turning around he allowed himself one last chance to partake in sweet memories of friends, family, his country, all left behind. As his wife stirred he turned around. He never looked back. Forward they walked towards opportunities untold. Forward they walk towards a new beginning. Forward they walked in America, home of the free. For centuries humans have forsaken the comforts of their current situations in search of a better existence for themselves and their families. From migrating thousands of miles to overthrowing governments humans have a knack for defying the odds successfully in pursuit of their morals and values. Descendant from a primitive apelike people, humans developed over thousands of years morphing into a super species where science is exalted in the quest to dominate nature. In the modern era, scientific and technological advancement are idolized as successes in these fields test the limits of our imaginations. With recent discoveries in genetics and the decoding of the human genome, scientists and politicians today work tirelessly towards complete control of the human body, plants, animals with dazzling results and further successes projected even up to the creation of synthetic life. However, many lines of research have sparked considerable controversy as society moves into an age of untold possibilities. The book Brave New World by Aldous Huxely portrays a futuristic society where humans have been molded into a cast system through chemical mutations, mind altering drugs, and psychological conditioning. With all classic philosophy, literature, and history destroyed as relics of the past, society stands static without any knowledge of a societal reality more primitive or advanced than the status quo. Despite current societal movement towards genetic modification and enhancement, the censorship and elimination of creative perspective present in Huxely’s utopia contradict the individualism and sense of self gave driving society forward. Modern society will never mirror Huxely’s utopia do to the innate spirituality and drive for growth that characterizes human nature. Brave New World depicts a society where humans control their bodies and environment through chemical treatments. Although scientifically impossible, this basic premise of environmental control becomes a reality when utilizing the principles of modern genomics. Over the last two decades scientists have gradually decoded every gene and strand of DNA that allows the human body to function. The gravity of this feat is insurmountable opening the door to limitless possibilities. But despite identifying several the causes of several common polygenic disorders (disorders in which several gene are implicated) and identifying the genes responsible for several Mendelian disorders, the promise of Gene therapy has â€Å"proved nothing but a pipe dream†(Kass). Beyond the elimination of disease, genetically enhanced and altered crops have increased in popularity. Several strains of crops such as cotton, corn, and soybeans have been enhanced with artificial genes that produce insecticides or resistance to herbicides. Furthermore, scientists are attempting to genetically modify plants, insects, and bacteria. Geneticists hope that in the near future genetically engineered plants will have the ability to feed on toxic pollutants. And certain bacteria have already been altered to produce chemicals valuable in manufacturing such as adipic acid, one of the ingredients in nylon, and teraphthalic acid, a component of a specialist polyester (Kass). With the possibilities of producing indestructible crops, plants that eliminate pollutants, and genetically modified fauna to produce chemicals, the economic stability and general prosperity depicted in Brave New World may become a reality in years to come. Furthermore, Huxley’s utopia presented a society where being a mother or father was considered vile and disgusting. Children were manufactured in â€Å"Hatchery And Conditioning Centers† where embryos were designed and enhanced with a complex cocktail of chemical additives in a manufacturing process. Currently modern technology has not developed a method of substituting natural birth conditions and genetically altering an embryo is close to impossible (Kass). But the prospect of genetically modified embryos dubbed â€Å"Designer Babies† lurks in the future. When these techniques develop society will possess the capabilities of genetically determining the capabilities of newborns despite whether artificial birth exists. From an ideological view, the extreme dehumanization in Brave New World may seem difficult to comprehend, but as generation builds on generation, the evolution of cultural practices and values inches society closer a similar state. As science allows society to conquer infertility or improve the genetic makeup of a child, birth moves one step closer to a manufacturing process (Carr). Even when moving beyond the technological transformations, the dominant explanation of organic life is the theory of evolution which directly undermines the value of human life (Carr). Rather than beings with spirits and a divine purpose, society diminishes mankind to nothing more than a meaningless collection of cells whose purpose is reproduction. Regardless of the technological and ideological influences that create a level of symmetry with Huxely’s utopia, our society can never reach the extremes presented in Brave New World because the core cultural values depicted directly contradict those our society ascribe to. Benjamin Franklin once said, â€Å"Without continual growth and progress, such words as improvement, achievement, and success have no meaning†. Brave New World depicted such a society where those not in a drug induced coma or suffering from purposeful cognitive damage were confined to a bland meaningless existence. Our society today is designed to award the innovative and talented as all struggle to achieve individual success. Emphasizing individual growth and achievement, our society will never sit static and unchanged as the world depicted in Huxely’s work.

DeLone McLean IS success models

DeLone McLean IS success models DeLone McLean IS success models According to Grover(1996), there is no definition of IS success. Each group of stakeholders who assess IS success in an organization has a different definition. From a software developer’s perspective, a successful information system is completed on time and under budget, has a set of features consistent with specifications, and functions correctly. Users may find an information system successful if it improves their work satisfaction or work performance. From an organizational perspective, a successful information system contributes to the company’s profits or creates a competitive advantage. Furthermore, IS success also depends on the type of system that is evaluated (Seddon et al. 1999, p. 21). IS success had seen different definitions given by many authors. According to Bailey and Pearson (1983) IS success is defined as â€Å"Measuring and analyzing computer user satisfaction is motivated by management’s desire to improve the productivity of information systems.† Authors Goodhue and Thompson (1995, p. 213) had given definition to IS success as â€Å"†¦MIS success ultimately corresponds to what DeLone and McLean (1992) label individual impact or organizational impact. DM reviewed the literature published in 1981-1987 in seven publications to develop a taxonomy of IS success. This taxonomy was based upon Mason’s modification of the Shannon and Weaver model (C.E. Shannon Weaver 1949)ofcommunications which had identified three levels of information: the technical level (accuracy and efficiency of the system that produces it), the semantic level (its ability to transfer the intended message), and the effectiveness level (its impact on the receiver). M ason adapted this theory for IS and expanded the effectiveness level into three categories: receipt of information, influence on the recipient, and influence on the system (R.O. Mason 1978). DM identified categories for system success by mapping an aspect of IS success to each of Mason’s effectiveness levels. This analysis yielded six variables of IS success: System Quality, Information Quality, Use, User Satisfaction, Individual Impact, and Organizational Impact. System Quality was equivalent to the technical level of communication, while Information Quality was equivalent to the semantic level of communication. The other four variables mapped to Mason’s subcategories of the effectiveness level. Use related to Mason’s ‘‘receipt of information.’’ User Satisfaction and Individual Impact were associated with the ‘‘information’s influence on the recipient.’’ Organizational Impact was the ‘‘influ ence of the information on the system.’’ DM developed their initial taxonomy using established theories of communication adapted to IS. These theories suggested that the flow of information was linear; however, they suggested that for IS, these different measures of success were independent, but that there was interdependency among them. Fig. 1 shows the original model. DM suggested that researchers should use this model in a predictive manner, yet they cautioned that one must measure and/ or control each of the variables in the model to ensure a complete understanding of IS success. DM called upon others to validate their model .† In order to provide a more general and comprehensive definition of IS success that covers these different points of view, DeLone and McLean (1992) reviewed the existing definitions of IS success and their corresponding measures, classifying them into six major categories. They created a multidimensional measuring model with interdependencies between the different success categories. The original DM IS success model According to DeLone and McLean (1992), measurement of IS success is critical for understanding the value and efficacy of IS management actions and IS investments. One of the most important and popular works on IS success model is the DeLone and McLean model (DM IS success model). DeLone and McLean proposed in 1992 a taxonomy and an interactive model as the frameworks for conceptualizing IS success. Driven by the need of a process to understand IS and its impacts, they developed a multi-dimension integrated view of IS success model. DeLone and McLean (1992) comprehensively reviewed IS success measures and concluded with a model of interrelationships between six IS success variable categories: (1) system quality, (2) information quality, (3) IS use, (4) user satisfaction, (5) individual impact, and (6) organization impact (see Fig. 1). This model makes two important contributions to the understanding of IS success. First, it provides a scheme for categorizing the multitude of IS success measures which have been used in the research literature. Second, it suggests a model of temporal and causainterdependencies between the categories (McGill, Hobbs, Klobas, 2003; Seddon, 1997). Since 1992, a number of studies have undertaken empirical investigations of the multidimensional relationships among the measures of IS success. Seddon and Kiew (1994) tested part of the DeLone and McLean (1992) model using a structural equation model. They replaced â€Å"use† with â€Å"usefulness† and added a new variable called â€Å"user involvement,† and their results partially supported the DeLone and McLean (1992) model. The description and examples of measures for these six dimensions are: First, system quality denotes system performance like data accuracy, system efficiency, response time, etc. Second, information quality refers to the quality of the IS product, such as currency, relevance, reliability, and completeness. Third, use refers to the frequency an information system is used, examining items like the number of functions used, frequency of access, and amount of connect time. Fourth, user satisfaction records the satisfaction level as reported by system users, including overall satisfaction and satisfaction of interface, etc. Fifth, individual impact refers to measuring the impacts brough t about by the information system on individual users, such as changes in productivity, decision model, and decision making. Sixth, organizational impact requires the evaluation of the changes caused by the information system to the organization, such as decrease in operating cost, savings in labor costs, and growth in profits. This original model identified six interrelated dimensions of IS success. It suggested that the success can be represented by the system quality, the output information quality, consumption (use) of the output, the user’s response (user satisfaction), the effect of the IS on the behavior of the user (individual impact), and the effect of the IS on organizational performance organizational impact). This model provided a scheme for classifying the multitude of IS success measures and suggested the temporal and causal interdependencies between the six dimensions. Motivated by DeLone and McLean’s call for further development and validation of their model, many researchers have attempted to extend or respecify the original model. A number of researchers claim that the DM IS success model is incomplete. They suggest that more dimensions should be included in the model, or present alternative success. Other researchers focus on the application and validation of the model (Rai et al. 2002). Following the Seddon’s extension of Delone McLean IS success model in 1997 into partial behavioural model of IS use and IS process model for IS success, Garrity and Sanders (1998) further adapted the model taking into account the organisational and sociotechnical systems. The model was further extended by Molla and Licker (2001) to measure e-Commerce success. The New DM IS model Information systems (IS) success is one of the most researched topics in IS literature. De Loneand McLean (1992) become aware of the complex reality that surrounds the identification and definition of the IS success concept. They organize the large number of studies on IS success and present a comprehensive and integrative model. DeLone and McLean, in their study, identify six main dimensions for categorizing the different measures of IS success: system quality, information quality, use, user satisfaction, individual impact, and organizational impact. They develop an IS success model in which these categories are interrelated, shaping a process construct. Their model proposes that â€Å"system quality and information quality singularly and jointly affect both use and user satisfaction. Additionally, the amount of use can affect the degreeof user satisfaction as well as the reverse being true. Use and user satisfaction are direct antecedents of individual impact; and, lastly, this impact on individual performance should eventually have some organizational impact† (DeLone McLean, 1992) (Figure 2). DeLone and McLean (1992) state that their model is â€Å"an attempt to reflect the interdependent, process nature of IS success†, undertaking to describe the IS success concept and the causes for the success. According to Ballantin other researchers (1996) and Seddon (1997), DeLone and McLean’s work makes several important contributions to the understanding of IS success. First, it consolidates previous research. Second, it provides a scheme for classifying the different measures of IS success that have been proposed in the literature into six dimensions. Third, it suggests a model of temporal and causal interdependencies between the identified categories. Fourth, it makes the first moves to identify different stakeholder groups in the process. Fifth, it has been considered an appropriate base for further empirical and theoretical research. Sixth, it has met general acceptance in the IS community. In the years that followed, several researchers altered or extended the model, while others adapted it for specific applications, such as knowledge management or e-commerce (W.H. DeLone, E.R. McLean 2004) systems. Recognizing these potential improvements over their original model, DM acknowledged these modifications and revised their model accordingly (W.H. DeLone, E.R. McLean 2003). The updated model is shown in Fig. 2. DM also modified their model to address some limitations of the original model. A key addition in the updated model was the inclusion of Service Quality as an additional aspect of IS success (L.F. Pitt, R.T. Watson, C.B. Kavan 1995); it was added because the changing nature of IS required the need to assess service quality when evaluating IS success. DM also recommended assigning different weights to System Quality, Information Quality, and Service Quality depending on the context and application of the model. There has been an intense debate about whether system use is a good measure of IS success. Although some authors (P.B. Seddon 1997) have suggested that it is better to remove system use as an IS success variable, DeLone andMcLean argued that systemusewas an appropriate measure. They asserted that the source of the problem was a too simplistic definition of system use, and that researchers must consider the extent, nature, quality, and appropriateness of it. Simply measuring the amount of time a system is in use is not enough: informed and effective use is an important indication of IS success. The DeLone and McLean Information System Success model, published in 1992, supplies a general framework to measure information systems success through the analysis of six different but interdependent factors: â€Å"system quality† on a technical level, â€Å"information quality† on a semantic level and â€Å"use†, â€Å"user satisfaction†, â€Å"individual impacts† and â€Å"organization impacts† on an effectiveness level. All these factors relate each other both on a temporal and a causal model; in the temporal model we first find system quality and information quality, which characterize an information system when it is just created; in a second stage of this process come use and user satisfaction, which feed or restrain each other and that are strongly influenced by the first two factors; finally, both in a temporal and in a causal way, comes first the individual impact and then the organizational impact, which is not seen as a simple sum of individual impacts but as a complex network of consequences. The generic nature of each of these entities makes the framework suitable for a variety of different information systems and contexts. During the last decade hundreds of articles have been written to confirm or challenge the validity of DeLone and McLean conclusions; in 2003 a new article was written by the same two authors to refine the whole model by taking into account all the suggestions/critiques made to the original article. The primary purpose of the original 1992 DM IS success model was to synthesize previous researches on IS success into a more coherent body of knowledge and to provide guidance to future researchers (DeLone and McLean, 2003). The role of IS has changed and progressed during the last decade. Similarly, academic inquiry into the measurement of IS Although it may be more desirable to measure system benefits in terms of numeric costs (e.g cost savings, expanded markets, incremental additional sales, and time savings), such measures are often not possible because of intangible system impacts and intervening environmental variables that may influence the numbers (T. McGill, V. Hobbs 2003).Therefore, there has been little consensus on how net benefits should be measured objectively and thus they are usually measured by the perceptions of those who use the IS. Therefore, ‘‘perceived system benefits’’ or ‘‘perceived usefulness’’ has been adopted as an important surrogate of IS success (B.H. Wixom, H.J. Watson 2001) The right-hand side of the DeLone and McLean’s model, which assumed linear causality between system use, user satisfaction, individual impact, and organizational impact, has not been authenticated. Seddon contended that the model was too encompassing and introduced some confusion because it mixed process and causal explanation of IS success. He further argued that system use must precede impacts and benefits, but that it did not cause them. Accordingly, system use would be a behavior that reflects an expectation of system benefits from using an IS and thus would be a consequence of IS success, rather than a determinant of system net benefits. Some empirical surveys (M. Gelderman 1998) also found that the association between system use and system benefit was not statistically significant. System use is necessary but not sufficient to create system benefits. User satisfaction results from the feelings and attitudes from aggregating all the benefits that a person hopes to receive from interaction with the IS (B. Ives, M.H. Olson, J.J. Baroudi 1983). In fact, attitude cannot influence system benefits—on the contrary, perceived system benefits can influence user satisfaction. Therefore, individual impact and net benefits can cause user satisfaction (rather than vice versa). There has been an intense debate about whether system use is a good measure of IS success. Although some authors (P.B. Seddon 1997) have suggested that it is better to remove system use as an IS success variable, DeLone andMcLean argued that systemusewas an appropriate measure. They asserted that the source of the problem was a too simplistic definition of system use, and that researchers must consider the extent, nature, quality, and appropriateness of it. Simply measuring the amount of time a system is in use is not enough: informed and effective use is an important indication of IS success. Although it may be more desirable to measure system benefits in terms of numeric costs (e.g. cost savings, expanded markets, incremental additional sales, and time savings), such measures are often not possible because of intangible system impacts and intervening environmental variables that may influence the numbers (T. McGill, V. Hobbs 2003).Therefore, there has been little consensus on how net benefits should be measured objectively and thus they are usually measured by the perceptions of those who use the IS. Therefore, ‘‘perceived system benefits’’ or ‘‘perceived usefulness’’ has been adopted as an important surrogate of IS success (B.H. Wixom, H.J. Watson 2001) The right-hand side of the DeLone and McLean’s model, which assumed linear causality between system use, user satisfaction, individual impact, and organizational impact, has not been authenticated. Seddon contended that the model was too encompassing and introduced some confusion because it mixed process and causal explanation of IS success. He further argued that system use must precede impacts and benefits, but that it did not cause them. Accordingly, system use would be a behavior that reflects an expectation of system benefits from using an IS and thus would be a consequence of IS success, rather than a determinant of system net benefits. Some empirical surveys (M. Gelderman 1998) also found that the association between system use and system benefit was not statistically significant. System use is necessary but not sufficient to create system benefits. User satisfaction results from the feelings and attitudes from aggregating all the benefits that a person hopes to receive from interaction with the IS (B. Ives, M.H. Olson, J.J. Baroudi 1983). In fact, attitude cannot influence system benefits—on the contrary, perceived system benefits can influence user satisfaction. Therefore, individual impact and net benefits can cause user satisfaction (rather than vice versa). The measurement of IS success or effectiveness is critical to our understanding of the value and efficacy of IS management and investments (DeLone and McLean, 2003). They have striven to bring both awareness and structure to the â€Å"dependent variable†- IS success in IS research, and the result is the so-called updated DM IS success model (Figure 2). Their major contribution is proposing a taxonomy and an interactive model as frameworks for conceptualizing and operationalizing IS success for future researchers. In response to the progresses in IS applications, DeLone and McLean refined their original model and proposed an updated version in 2003. Service quality was added into the success model, and the individual impact and organizational impact were combined into a single variable named â€Å"net benefits† as shown in Figure 4. To catch up with the advancements of its applications, IS needs not only to provide users information products but also to meet users’. In addition, some researchers (J.J. Baroudi, M.H. Olson, B. Ives 1986) have suggested that user satisfaction causes system use rather than vice versa. Thus, the Delone and McLean’s assertion that system use causes user satisfaction seems to be merely a temporal rather than causal relationship. Many models based on that of DeLone and McLean have been presented. However, they often confuse the independent variable and dependent variables of IS success. ‘‘Technological support’’, ‘‘knowledge strategy or process’’, and ‘‘support and service’’ are three examples of suggested additions but these clearly cause success (rather than being part of it). The variables should be dependent; i.e. surrogate measures for success. DeLone and McLean suggested that the IS success model should include service quality for electronic commerce systems. DeLone McLean (2003) argue that Seddon’s (1997) reformulation of the DeLone McLean (1992) model into two partial variance models (i.e. IS success model and partial behavioural model of IS Use) unduly complicates the success model, and thus assert that System Use or Intention to Use is still an important measure of IS success. Given that Systems Use/Intention to Use is included in their updated IS success model, DeLone McLean (2003; 2004), however, did not attempt to reconcile their model with Seddon’s (1997) Perceived Usefulness measure and Davis’s (1989) Technology Acceptance Model (TAM) that explains system use behaviour. Thus, there is a need for research to combine the updated DM model with Seddon’s (1997) Perceived Usefulness construct and the IS acceptance/adoption literature to give it the richness in theoretical perspective that it presently lacks. While the updated DM model is a generic, comprehensive e-commerce systems success model, it suffer s from certain difficulties. First, the Net Benefit measure in the model is conceptually too broad to define. As DeLone McLean (2004) suggest, ‘The new net benefits construct immediately raises three issues that must be addressed: what qualifies as a benefit? for whom? and at what level of analysis’ Thus, when using the updated DM model, researchers need to clearly and carefully define the stakeholders and the context in which Net Benefits are to be measured (DeLone McLean, 2004). DeLone and McLean (2003) propose an updated IS success model (Fig. 2) and evaluate its usefulness in light of the dramatic changes in IS practice, especially the advent and explosive growth of ecommerce. They agree with Seddons premise that the combination of variance and process explanations of IS success in one model can be confusing, but argue that Seddons reformulation of the DeLone and McLean (1992) model into two partial variance models unduly complicates the success model, and defeats the intent of the original model. Based on prior studies, DeLone and McLean (2003) propose an updated model of IS success by adding a â€Å"service quality† measure as a new dimension of the IS success model, and by grouping all the â€Å"impact† measures into a single impact or benefit category called â€Å"net benefit.† DeLone McLean (2004) propose several e-commerce systems success measures identified in the management information systems (MIS) and marketing literature, t he nomological structure of the updated DM model is not fully consistent with the quality- value-satisfaction-loyalty chain in the marketing and consumer behavior. Thus, continued research is also required to reconcile the updated DM model with the marketing research literature. Although some researchers claim that service quality is merely a subset of the models systems quality, the changes in the role of IS over the last decade argue for a separate variable called the â€Å"service quality† dimension (DeLone McLean, 2003). On the other hand, while researchers have suggested several IS impact measures, such as individual, work group impacts, organizational impacts (DeLone McLean, 1992), interorganizational impacts, consumerimpacts, and societal impacts (Seddon, 1997), DeLone and McLean (2003) move in the opposite direction and group all of the impact measures into a single net benefits variable, to avoid complicating the model with more success measures. Given that system usage continues to be used as a dependent variable in a number of empirical studies, and takes on a new importance in Internet-based system success measurements, where system use is Voluntary, â€Å"system usage† and the alternative â€Å"intention to use† are still considered as Important measures of IS success in the updated DeLone and McLean model. References Seddon PB, Staples S, Patnayakuni R, Bowtell M (1999) Dimensions of information systems success. Communications of the AIS Grover V, Jeong SR, Segars AH (1996) Information systems effectiveness: the construct space and patters of application. Information Management 31(4):177-191 Goodhue DL, Thompson RL (1995) Task-technology fit and individual performance. MIS Quarterly 19(2):213 DeLone WH, McLean ER (1992) Information systems success: the quest for the dependent variable. Information Systems Research DeLone WH, McLean ER (2003) The DeLone and McLean model of information systems success: a ten-year update. Journal of Management Information Systems McGill, T., Hobbs, V., Klobas, J. (2003). User-developed applications and information systems success: A test of DeLone and McLeans model. Information resources Management Journal, R.O. Mason, Measuring information output: a communication systems approach, Information Management Seddon, P. B. Kiew, M.-Y. (1994). A partial test and development of the DeLone and McLean model of IS success. In J. I. De Gross, S. L. Huff, M. C. Munro (Eds.), Proceedings of the international conference on information systems Atlanta, GA: Association for Information Systems Rai, A., Lang, S.S. Welker, R.B. (2002) Assessing the validity of IS success models: an empirical test and theoretical analysis. Information Systems Research, Molla, A. Licker, P.S. (2001) E-commerce systems success: an attempt to extend and respecify the DeLone and McLean model of IS success. Journal of Electronic Commerce Research Taylor, S. and Todd, P. â€Å"Understanding information technology usage: a test of competing models,† Information Systems Research

Impact of Marketing Collateral in Banks

Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers greatest currency and a great banking and financial services brand can be built only on a strong foundation of trust. That pretty much has been HDFC banks story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the banks contribution to the bustle of post liberalization has been incredible. The banks service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC banks decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of elite private sector banks in the country. HDFC banks biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a brand run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with. Power Creation: With the vision of being one-stop financial superstore in mind, the bank operates in three segments: Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third party financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC banks credit Cards are also enormously trusted. Here as well some well-crafted strategies of the past have yielded brilliant results for the bank. One of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a loyal customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign exchange products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians. Communication Strategy: The positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HDFC bank have always focused on that and their tagline ‘We Understand Your World only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commitment towards excellence in customer service facilitated through various means, especially technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits Scholarship plan which received high acclamation. Magical factors: As a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the bottom of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the ‘My Favourite features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on little things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand. Brand Ethos: HDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"brandr† meaning to burn. It refers to the practice of producers burning their mark (or brand) onto their products. When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with emotional impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists. Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc. Brand identity and image Brand identity is the outward expression of a brand, including its name, trademark, communications and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in contrast to the brand image, which is a customers mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity Brand awareness Brand awareness refers to customers ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it. Brand Tracking The role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques) Effective brand management relies on getting timely and accurate information from the target audiences. Brand tracking involves designing a program of measurement that is completed on a regular schedule to allow for trend analysis and comparison. Some of the key metrics that are involved in tracking a brand include: Brand awareness and familiarity Brand perceptions Brand positioning Delivery on brand promise Perceptions of competitive brands What are marketing collaterals? Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization. Types of the marketing collaterals used in HDFC bank are displayed as follows: MARKETING COLLATERALS WINDOW GLAZINGTENT CARDS LCD TVSTANDEE BANNERLEAFLETS POSTERNOTICE BOARD DESCRIPTION OF THE PROJECT Impact of marketing collaterals in branches: Every bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to grab customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services. By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city. Brand tracking of HDFC bank in semi-urban regions of India: A brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors. It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceived by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image. In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised. OBJECTIVES OF THE PROJECT Impact of marketing collaterals in branches: HDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals. Brand tracking of HDFC bank in semi-urban regions of India: A brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION With the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or fail to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are suggested. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased. The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes. LIMITATIONS OF THE STUDY As the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up. The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an attitude is a limitation. The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities. RESEARCH PROCESS ADOPTED Both the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as follows: The entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time frame was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner. THE SCHEDULE OF TASKS IS AS FOLLOWS METHODOLGY USED The methodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face basis by visiting different semi-urban regions of a few cities where HDFC bank has its branches located at. Data collected from questionnaires will be used in percentage form as the primary data for making analysis. It is a stringent research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association. The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for opening a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the rank given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline. In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report. The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required. CITIES AND BRANCHES VISITED TILL DATE Lists of cities that have been visited for Brand Tracking of HDFC Bank is as follows: 1) Aurangabad People outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared. 2) Surat Semi-urban regions near Surat city were visited i.e. Bardoli and Amroli. 3) Madhya Pradesh Semi-urban regions of M.P were visited i.e. Khandwa and Harda. 4) Rajkot Semi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una. A list of branches of HDFC Bank in Mumbai that were visited to conduct the study on impact of marketing collaterals in branches is as follows: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch EXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report. DATA FINDINGS OF MARKETING COLLATERALS SURVEY List of branches visited: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch Total number of people interviewed: 200 Data collected is as follows: 1) How often do you visit the branch? a) Very often 48% b) Less often 28% c) Rarely 24% 2) How much time do you spend in the branch at every visit? a) 5 to 10 minutes 17.5% b) 10 to 15 minutes 34% c) 15 to 20 minutes 20.5% d) Above 20 minutes 28% 3) Which of the following collaterals attract your attention the most? 4) Do you often spend time reading these collaterals? a) Yes 67.5% b) No 32.5% 5) Do you find it easy to read them? a) Yes 94% b) No 6% 6) If yes, does it induce you to inquire about it? a) Yes 75.5% b) No 24.5% 7) If no, what are the obstacles that prevent you from reading it? a) Location of the collateral 2.5% b) Font size/colour 2% c) Too much text matter 12% d) Language 0.5% e) Other issues 6% f) No issues 77% DATA FINDINGS ON BRAND TRACKING Cities Visited: Aurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda) Total Number of peopleinterviewed: 200 Data collected is as follows: (The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers) 1) Banks that the people were aware about are as follows: All data: HDFC bank 26.3% ICICI bank 21.8% State Bank of India 18% Axis bank 15% Other 18.8% Customers: HDFC bank 28.57% ICICI bank 19.72% State Bank of India 16.32% Axis bank 12.92% Other 22.44% Non-customers: HDFC bank 25.60% ICICI bank 22.51% State Bank of India 18.54% Axis bank 15.67% Other 17.66% 2) Public opinion about each bank with regards to the attributes mentioned as follows: a) Trust All data Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS Impact of Marketing Collateral in Banks Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers greatest currency and a great banking and financial services brand can be built only on a strong foundation of trust. That pretty much has been HDFC banks story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the banks contribution to the bustle of post liberalization has been incredible. The banks service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC banks decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of elite private sector banks in the country. HDFC banks biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a brand run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with. Power Creation: With the vision of being one-stop financial superstore in mind, the bank operates in three segments: Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third party financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC banks credit Cards are also enormously trusted. Here as well some well-crafted strategies of the past have yielded brilliant results for the bank. One of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a loyal customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign exchange products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians. Communication Strategy: The positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HDFC bank have always focused on that and their tagline ‘We Understand Your World only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commitment towards excellence in customer service facilitated through various means, especially technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits Scholarship plan which received high acclamation. Magical factors: As a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the bottom of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the ‘My Favourite features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on little things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand. Brand Ethos: HDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"brandr† meaning to burn. It refers to the practice of producers burning their mark (or brand) onto their products. When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with emotional impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists. Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc. Brand identity and image Brand identity is the outward expression of a brand, including its name, trademark, communications and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in contrast to the brand image, which is a customers mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity Brand awareness Brand awareness refers to customers ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it. Brand Tracking The role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques) Effective brand management relies on getting timely and accurate information from the target audiences. Brand tracking involves designing a program of measurement that is completed on a regular schedule to allow for trend analysis and comparison. Some of the key metrics that are involved in tracking a brand include: Brand awareness and familiarity Brand perceptions Brand positioning Delivery on brand promise Perceptions of competitive brands What are marketing collaterals? Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization. Types of the marketing collaterals used in HDFC bank are displayed as follows: MARKETING COLLATERALS WINDOW GLAZINGTENT CARDS LCD TVSTANDEE BANNERLEAFLETS POSTERNOTICE BOARD DESCRIPTION OF THE PROJECT Impact of marketing collaterals in branches: Every bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to grab customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services. By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city. Brand tracking of HDFC bank in semi-urban regions of India: A brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors. It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceived by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image. In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised. OBJECTIVES OF THE PROJECT Impact of marketing collaterals in branches: HDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals. Brand tracking of HDFC bank in semi-urban regions of India: A brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION With the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or fail to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are suggested. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased. The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes. LIMITATIONS OF THE STUDY As the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up. The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an attitude is a limitation. The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities. RESEARCH PROCESS ADOPTED Both the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as follows: The entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time frame was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner. THE SCHEDULE OF TASKS IS AS FOLLOWS METHODOLGY USED The methodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face basis by visiting different semi-urban regions of a few cities where HDFC bank has its branches located at. Data collected from questionnaires will be used in percentage form as the primary data for making analysis. It is a stringent research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association. The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for opening a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the rank given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline. In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report. The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required. CITIES AND BRANCHES VISITED TILL DATE Lists of cities that have been visited for Brand Tracking of HDFC Bank is as follows: 1) Aurangabad People outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared. 2) Surat Semi-urban regions near Surat city were visited i.e. Bardoli and Amroli. 3) Madhya Pradesh Semi-urban regions of M.P were visited i.e. Khandwa and Harda. 4) Rajkot Semi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una. A list of branches of HDFC Bank in Mumbai that were visited to conduct the study on impact of marketing collaterals in branches is as follows: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch EXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report. DATA FINDINGS OF MARKETING COLLATERALS SURVEY List of branches visited: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch Kandivili branch Total number of people interviewed: 200 Data collected is as follows: 1) How often do you visit the branch? a) Very often 48% b) Less often 28% c) Rarely 24% 2) How much time do you spend in the branch at every visit? a) 5 to 10 minutes 17.5% b) 10 to 15 minutes 34% c) 15 to 20 minutes 20.5% d) Above 20 minutes 28% 3) Which of the following collaterals attract your attention the most? 4) Do you often spend time reading these collaterals? a) Yes 67.5% b) No 32.5% 5) Do you find it easy to read them? a) Yes 94% b) No 6% 6) If yes, does it induce you to inquire about it? a) Yes 75.5% b) No 24.5% 7) If no, what are the obstacles that prevent you from reading it? a) Location of the collateral 2.5% b) Font size/colour 2% c) Too much text matter 12% d) Language 0.5% e) Other issues 6% f) No issues 77% DATA FINDINGS ON BRAND TRACKING Cities Visited: Aurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda) Total Number of peopleinterviewed: 200 Data collected is as follows: (The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers) 1) Banks that the people were aware about are as follows: All data: HDFC bank 26.3% ICICI bank 21.8% State Bank of India 18% Axis bank 15% Other 18.8% Customers: HDFC bank 28.57% ICICI bank 19.72% State Bank of India 16.32% Axis bank 12.92% Other 22.44% Non-customers: HDFC bank 25.60% ICICI bank 22.51% State Bank of India 18.54% Axis bank 15.67% Other 17.66% 2) Public opinion about each bank with regards to the attributes mentioned as follows: a) Trust All data Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS