ORMORM Manickavasagam Chetty V TJ McGregor free essay sample

The admonition was enlisted with the Registrar of Titles. An asserted that the lien had been lost when R withdrew with the title. He needs R to pull back his admonition so cross-move can be executed. (Since there was admonition, enlistment Of move was cannot. ) Held: S 134 of the Land Code: When a lien is planned to be made over any land the owner may store his award, rent of State land, authentication of title, or concentrate from the mike register, and the individual with whom the equivalent has been saved ay present an admonition. Endless supply of such admonition the lien will be made. Corrosive must be stored to the individual who wished to go into a lien-holders admonition Cline isn't endless supply of title as it was previously (S 80 of Registration of Titles Enactment) however endless supply of the proviso. Lien may not be lost where ownership is not, at this point held. We will compose a custom paper test on ORMORM Manickavasagam Chetty V TJ McGregor or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The test whether a lien is in presence is whether there is an admonition on the land or not. (not whether the title is still in the ownership of the lien-holder.Not having he title under lock and key doesn't imply that the lien stopped to exist or the lien-holder had proposed to surrender the lien. Admonition was still in power. Respondent was no longer possessing the piece of the title for the land over which the lien was made isn't proof that the lien has stopped to exist. He can't pull back the current admonition and cabin a new one (SSL 75 of the Land Code restricts enlistment of second proviso). Must see the expectation of the leaving behind the title. In the event that the expectation to leave behind DID was to relinquish the lien, at that point he lien would become invalid.If the splitting of the DID was for different purposes e. G. Property is conveyed to the proprietor for some specific reason on an endeavor by the proprietor that he will return it, at that point the lien is as yet legitimate. Ors prompt goal in giving up the title was to empower the Collector to sub-isolate. That demonstration didn't deny himself of his lien. Ors rights to be qualified for a lien under S 134 are not influenced by an understanding between co-proprietors to partition land and execute cross exchanges.

The Media Needs Regulation Essay example -- Media Argumentative Persua

The Media Needs Regulation   â â â â â The passing of Princess Diana on August 31, 1997 stunned the world; her demise was thought about the greatest disaster of the year, and the media reacted in like manner. Her demise provoked the media into a free for all to purify her memory; be that as it may, through the narratives and dedicatory magazines, the media demonstrated their blame of attack of Princess Diana's protection by showing the enormous sum of data they accumulated for an incredible duration. Indeed, seven days before she passed on, she traveled in Greece with author companion Rosa Monckton, and they attempted to outmaneuver the paparazzi for straightforward protection. Diana said to Monckton, It's a chase, Rosa. It's a chase. Will you truly mention to individuals what it resembles? The article communicating to individuals the paparazzi's chase lay half-composed on a work area when Monckton took in her companion kicked the bucket being chased to her demise (108-109). This made me fully aware of the way that the media needs confinements. The media should abstain from encroaching into the individual existences of individuals, and in the US the issue is apparent all through media history. Legitimate activities can be taken in the United States to upset attack of security by the media without decreasing the intensity of the principal correction. On the off chance that the United States embraced an association like Great Britain's Press Complaints Commission which self-controls their media, it would be an extraordinary beginning for securing individuals' right of protection from the media in the United States.  The media in the United States didn't start by announcing the private existences of individuals in the news or individuals in the open eye. The 1960's I... ...the PCC. Available: www.pcc.org.uk/about/home.htm.  Code of Ethics. Available: www.pcc.org.uk/about/default.htm.  Day, Nancy. Hair-raising TV. Springfield, New Jersey: Enslow Publishers, Inc., 1996.  Key Benefits of the System of Self Regulation. Available: www.pcc.org.uk/about/benefits.htm.  Minnesota News Council Determinations. Available: www.mtn.org/newscouncil/conclusions/determin_index.html.  Monckton, Rosa. My Friend Diana. Newsweek Commemorative Issue: Diana, A Festivity of Her Life. October 1997: 108-112.  Shaw, Bob. The most effective method to Start a News Council. Available: www.mtn.org/newscouncil/General/Shaw.html.  Sobel, Robert. The Manipulators. Nursery City, New York: Anchor Press/Doubleday, 1976.  Weiss, Ann E. Who's to Know? Boston: Houghton Mifflin Co., 1990. Â

Decision letters mailed

Decision letters mailed EDITED 12/11/04 09:50 AM EST The postman picking up all 383 Admit Letters Actually, this photo only shows about half of the admit letters, as overall there were 4 buckets of The Big Envelope. Speaking of envelope sizes, since Ive received a number of questions about this, I can tell you that the Admit Letter is 10 x 13, and the defer and deny letters each come in a standard #10 window envelope (4.125 x 9.5). The other FAQ Ive been getting is, why so few EA admits? 2002 2003 2004 EA Admits 525 438 383 Well, there are two factors at work here. First, we are committed to admitting no more than one-third of our class during early action. We feel that the pressures to apply early are too high, and dont want to further contribute to that by leaving only a very small number of spaces for regular action, further pressuring people to apply early. We dont want to penalize those students who apply regular action. Second, our last two classes, because of an increased yield (the percentage of admitted students who decide to enroll), have been quite large, and were aiming for a smaller class this year. So, given our 1/3 constraint, our increased yield, and decreased class size, there you have it 383, a nice prime number (though Im sure youd prefer a different prime number, maybe something like 2699). More later (off to dim sum at China Pearl!)

A Study of the Dramatic Roles of Women in Richard III Essay

There are five female characters in the play Richard III. Of these five there are four central female characters; the Duchess of York, Richards mother; Anne who later becomes Richards wife; Queen Margaret who was the former queen and Richards arch enemy and Queen Elizabeth, the current queen. The final female character who plays a minor role in the play is Queen Elizabeths daughter, Elizabeth, but she is merely a pawn in Richards plan and we never meet her. Each woman has a significant role in Richard III and is vital to the script. Anne is the first female character that we meet in the text (act 1 scene 2), which is where she is wooed by the ultimate villain in the play, Richard.†¦show more content†¦She is a fool to be charmed in this way against all the odds and to be made believe that he killed them for her. She realises her mistake later on in the play but by then it is too late and she is killed. The woman whom we meet next is my favourite character in the play because she too is a victim like many others in the play, but is the only one who manages to defeat Richard. This is Queen Elizabeth. Queen Elizabeth is a passive character throughout most of the play until she is no longer queen. As I have already mentioned Queen Elizabeth is a victim in the play but more so than any of the other characters because her husband dies of ill health due to Richards scheming and lies, and then her two sons are murdered due to Richards demands, but she still stays strong enough to send her remaining son abroad to save him. Her dramatic role in Richard III is to show that evil can be overthrown. She is Richards victim throughout until she deceives him by making him believe that he will take her young daughter in marriage I go. Write to me very shortly, /And you shall understand from me her mind. In this scene we see Queen Elizabeth in a different light, not as a grieving widow or mother, but as a strong, determined character that is intent on overthrowing her tormentor. She sees a chance to be Richards victor andShow MoreRelatedThe Change Of The Interpersonal Communication3193 Words à ‚  |  13 Pagesthe social media changed patterns of social relations. The purpose of the study is to understand how the interpersonal communication changed in the computer mediated communication (CMC) and through the use of social media. The main concern of the paper is how computer mediated communication affects individuals’ interpersonal relationships on the social network sites (SNSs)? Applying this in Facebook website as a case study. Keywords: Interpersonal communication: mediated communication-non mediatedRead MoreA Doll House by Henrik Ibsen7379 Words   |  30 PagesRolf Fjelde I. 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This disruption of gender roles is also presented through Lady Macbeths usurpation of the dominate role in the Macbeths marriage;Read MoreSociology : Science As X3860 Words   |  16 Pagesnoticed how the classifications of people based on the factors listed above affect those who are so classified. And more specifically, I have wondered, what role does science play in this process? Science has been a dominant factor in determining our beliefs about practically anything and everything – from medical discoveries and health studies to dieting and exercise. When it comes to people, and specifically â€Å"deviant† people, science seeks to control, help, organize, change, and/or understand themRead MoreCaribbean Crucible: History, Culture, and Globalization4302 Words   |  18 Pagesthe aim of enriching imperial treasuries and creating dependent territories in their service. Reconsidering the Caribbean as an origin-point of the modern global system means more than an understanding of the Caribbeans role in the world. It means understanding the worlds role in the Caribbean, the constant back and forth movement of people, ideas, and things, and the intricate interplay of forces at work in shaping economies, societies, and cultures. It means donning a perspective that allowsRead MoreA Study on Metafictive Devices in the French Lieutenant’s Woman5819 Words   |  24 PagesA Study on Metafictive Devices in The French Lieutenant’s Woman Abstract The French Lieutenant’s Woman is a splendid literary work written by English novelist John Fowles. It was published in 1969 and received universally acknowledged reputation as a masterpiece of postmodern novel. With intricate plot, the novel is regarded as a compelling historiographic metafiction in contemporary British literature. The characteristics of this novel are the metafictive devices employed by the authorRead MoreTorts study notes Essay17110 Words   |  69 Pagesin Part II.    In Part III, I propose we take seriously a mixed theory of tort law, which can attend to both deterrence and corrective justice. In suggesting this, I review a limited number of tort doctrines and show how the combination of deterrence and justice can provide a better or fuller explanation for these doctrines than can either theory standing on its own. In this Paper, however, I am somewhat tentative as to what form a mixed theory should actually take: Part III sketches out and discussesRead MoreSummary Communication Theory13076 Words   |  53 PagesIntroduction to Communication Theory: Course Summary Chapter 1: Launching your study What is a theory? What distinguishes a good theory from a bad theory? A theory is a set of systematic informed hunches about the way things work. A good theory goes beyond accepted wisdom and offers explanations and speculations about phenomena. Additionally, a good theory consists of a system of concepts which means that the theorist were able to make connections among his ideas. A theory tends to shape our perceptionRead MoreMacbeth9435 Words   |  38 Pagesbackstage world of theatre, some believe that the play is cursed, and will not mention its title aloud, referring to it instead as the Scottish play. Over the course of many centuries, the play has attracted some of the most renowned actors to the roles of Macbeth and Lady Macbeth. It has been adapted to film, television,  opera, novels, comic books, and other media. Contents   Ã‚  [hide]   * 1  Characters * 2  Plot * 3  Sources * 4  Date and text * 5  Themes and motifs * 5.1  Ambition Read MoreSummary Communication Theory13084 Words   |  53 PagesIntroduction to Communication Theory: Course Summary Chapter 1: Launching your study What is a theory? What distinguishes a good theory from a bad theory? A theory is a set of systematic informed hunches about the way things work. A good theory goes beyond accepted wisdom and offers explanations and speculations about phenomena. Additionally, a good theory consists of a system of concepts which means that the theorist were able to make connections among his ideas. A theory tends to shape

Definitions and Examples of Merisms in Rhetoric

Merism (from the Greek, divided) is a  rhetorical term for a pair of contrasting words or phrases (such as near and far, body and soul, life and death) used to express totality or completeness. Merism may be regarded as a type of synecdoche  in which the parts of a subject are used to describe the whole. Adjective: meristic. Also known as a universalizing doublet and merismus. A series of merisms can be found in marriage vows: for better for worse, for richer for poorer, in sickness and in health. English biologist William Bateson adopted the term merism to characterize the phenomenon of Repetition of Parts, generally occurring in such a way as to form a Symmetry or Pattern, [which] comes near to being a universal character of the bodies of living things (Materials for the Study of Variation, 1894). British linguist John Lyons used the term complementary to describe a similar verbal device: a dichotomized pair that conveys the concept of a whole. Examples and Observations There is a working class—strong and happy—among both rich and poor; there is an idle class—weak, wicked, and miserable—among both rich and poor. (John Ruskin, The Crown of Wild Olive, 1866)Young lions and pumas are marked with feeble stripes or rows of spots, and as many allied species both young and old are similarly marked, no believer in evolution will doubt that the progenitor of the lion and puma was a striped animal. (Charles Darwin, The Descent of Man and Selection in Relation to Sex, 1871)Most people, including most academics, are confusing mixtures. They are moral and immoral, kind and cruel, smart and stupid—yes, academics are often smart and stupid, and this may not be sufficiently recognized by the laity. (Richard A. Posner, Public Intellectuals: A Study of Decline. Harvard University Press, 2001)[Sir Rowland Hill] introduced the Penny Postage . . .. This introduced the concept where the sender of a letter was responsible for paying for it, and this would be a national service from John O’Groats to Lands End. (Peter Douglas Osborn, The Birmingham Murder Most Foul That Left Its Stamp on History. Birmingham Post, September 28, 2014) Words for Words Sake Merism, ladies and gentlemen, often looks like antithesis, but its different. Merism is when you dont say what youre talking about, and instead name all of its parts. Ladies and gentlemen, for example, is a merism for people, because all people are either ladies or gentlemen. The beauty of merism is that its absolutely unnecessary. Its words for words sake: a gushing torrent of invention filled with noun and noun signifying nothing. (Mark Forsyth, The Elements of Eloquence: How to Turn the Perfect English Phrase. Icon Books, 2013) Merism in the Bible It may very well be that the Bible, as organized, functions as a merism, beginning in Genesis with Eden lost and ending in Revelation with the New Jerusalem gained, these two referring to the entirety of human history and representing the Alpha and Omega (Rev. 21.6) of Gods sovereignty. Revelation 11.17 extends merism to the triadic one who is, was, and is coming. Finally, while it may be to stretch a point, it might be said that the Old Testament and the New Testament form a merism that represent all of Gods word and the Bible as totality. (Jeanie C. Crain, Reading the Bible as Literature: An Introduction. Polity Press, 2010) Here and There, Now and Then Personal now refers to the moment of utterance (or to some period of time which contains the moment of utterance). The complementary demonstrative adverbs there and then are negatively defined in relation to here and now: there means not-here and then means not-now. (John Lyons, Linguistic Semantics: An Introduction. Cambridge University Press, 1995)

Sample of Resume Free Essays

ALVIN B. PAILAN Address: BRGY,. Cabanbanan, Pagsanjan Laguna Mobile No. We will write a custom essay sample on Sample of Resume or any similar topic only for you Order Now : 0909-4245-651 Email: Alvinpailan@yahoo. com OBJECTIVES: To obtain a position that will best fit my qualification and develop further my ability and skills for a Continues career development. WORK EXPERIENCE Employer: ASIAPRO COOP. , Project: MANILA DOCTORS HOSPITAL Address: UN Avenue Ermita Manila Position: Plumber Maintenance Inclusive Date: November 3, 2008 to Present Job description:-Responsible for maintaining of submersible, motor pump and installation of piping -repair plumbing works lavatory faucet, water closet -repair and installation of water supply -responsible preventive maintenance of vacuum pump and drinking fountain -monitoring of fire pump -responsible for cleaning of water tank and cistern tank – de-clogged sewer line and sanitary line – cleaning grease trap Company: INTERCONTINENTAL HOTEL MANILA Employer: ENJAYS HOTEL (HOLIDAY INN) Position: SHIFT PLUMBER Inclusive Date: September 1999 – July 2004 Job Description: -Maintaining of fan coil unit -Repair kitchen equipment -Monitoring of submersible pump -Back washing of swimming pool filter -Repair plumbing works lavatory faucet, water closet -Welding and acetylene copper pipe -De Clogged all drain line -Corrective maintenance of plumbing work Company: KAPALARAN BUS LINE Address: PAGSAWITAN STA CRUZ LAGUNA Position: AUTO AIRCON MECHANIC Inclusive Date: May 1994 – September 1998 Job Description: -Welding and acetylene copper Pipe -charging Freon -Vacuuming Trouble shooting and repair air-condition Company:SANMIGUEL FOOD CORPORATION Address:Cabuyao Laguna Position:Sales Representative Inclusive Date:September 1998 – October 1999 Job Description:-Delivery of all items magnolia foods -Receiving product Seminar Attended: -Basic Safety Course The maritime training center of the Philippines 3rd floor G. E. Antonio bldg,. TM Kalaw St. Ermita Manila February 15, 2002 -Medical Gas Safety Training,. (CIGI) Manila Doctors Hospital January 13, 2010 -INGASCO INC. , Product knowledge and Safe gas handling Seminar Manila Doctors Hospital April 21, 2010 -DCDC Aerocom Engineering training Manila Doctors Hospital September 16, 2010 -Pacific paint (Boysen) Philippines INC,. Boysen Painting Seminar Manila Doctors Hospital March 30, 2011 -Basic Life Support Course (Lay Rescuer) Manila Doctors Hospital August 12, 2011 EDUCATIONAL ATTAINMENT Tertiary Education: LAGUNA SCHOOL OF ARTS AND TRADE Address: BRGY. ,BUBUKAL,STA. CRUZ LAGUNA Course:Refrigeration and air-conditioning Technology YEAR GRADUATED: 1992 – 1994 Secondary Education: LAGUNA SCHOOL OF ARTS AND TRADE Address: BRGY. ,BUBUKAL,STA. CRUZ LAGUNA Year Graduated:1988 – 1992 Primary Education: UNSON ELEMENTARY SCHOOL Address: BRGY. , CABANBANAN PAGSANJAN LAGUNA Year Graduated: 1982 -1988 SPECIAL SKILLS:Acetylene / gas welding -Plumbing works – Refrigeration and air-conditioning -Installation of piping PERSONAL DATA Date of Birth:October 16, 1975 Birth Place: Pagsanjan Laguna Civil Status: Married Religion: Roman Catholic Nationality: Filipino Height: 5’6 Weight: 160 lbs. Dialects: English / Filipino Fathers name: Bienvinido pailan Occupation: Driver Mothers name: Avelina Baltera Occupation: Sewer â€Å"I hereby certify that all the information above are true and correct to the best of my knowledge and belief’’ How to cite Sample of Resume, Essay examples

Employment Agencies free essay sample

There are two types of employment agencies, recruiting and staffing. These can both be good tools to use in your job search. A recruiting service matches your skills with a permanent full time position. They are also called headhunters or executive search firms. Basically what they do is look for qualified candidates for different employers. Most of the time the employer pays the fee to the recruiting service and the recruiting service recommends you for the job if you are qualified. I guess this helps the employer to sort through applicants better. Some benefits for using a recruiting service are, you will get access to unadvertised jobs and the firm is working to match your skills with a permanent position. Staffing services work a little differently. They often offer short term positions or temporary positions with the option of a permanent position if the employer decides to hire you. Staffing services have also been known as contract firms or employment agencies. We will write a custom essay sample on Employment Agencies or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If you are employed through one of these agencies, they will find another job for you when your short term assignment is complete. There are several benefits to working through a staffing service. These include gaining work experience, earning money while you look for permanent work, flexible hours, and sometimes employers will offer you a permanent position. This can also give you the option to check out different positions before you make a career decision. This website, http://money. howstuffworks. com/business/getting-a-job/employment-agencies1. htm , in my opinion describes in detail how exactly employment agencies work.

Thesis Proposal Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 Essay Example

Thesis Proposal: Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 Paper Thesis Proposal: Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 By mikashee 1. INTRODUCTION 1. 1 . Background of the Study: The Banking Industry in the Philippines is one of the (recorded) contributors to GDP under the Service Sector. Despite being one of the least contributing industries in the Philippines, its purpose is highly relevant in different markets. Aside being a category under the Service Sector for GDP reporting, the Banking Sector is the largest medium for Financial Intermediation in the Philippines. Over the years, banks has been one of the common financial intermediaries that provides lending and deposit services for people whore short in funds and people who have no place to use their excess money on. In order to become more profitable and increase the level of competition, Financial Liberalization was introduced in the banking industry wherein some banking regulations have been lifted so that banks could offer other banking services other than the traditional Loans and Deposits. After the financial liberalization came into the market, banks, particularly Universal nd Commercial banks, have found new sources of income other than the traditional interest income. Examples of these activities, as given by researchandmarkets. com(2012), are Portfolio Management, Derivatives trading, Mobile/lnternet Banking, and the like. We will write a custom essay sample on Thesis Proposal: Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Thesis Proposal: Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Thesis Proposal: Effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2007 2012 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Non-lnterest Income, or fee-based income, came from non-traditional activities/services provided by banks wherein these activities differ per bank in order to establish some sort of competitive advantage against their competition. 1. 1 . 1. Banking Activities Engaged by Banks in RP Among the different classification of banks in the Philippines, it is Universal and Commercial banks services that are being availed of by most Filipinos since these banks cover Page 1 the basic banking services that are not limited to a certain market only. Aside from the Traditional Deposit-Loan activities that earn the usual Interest Income, banks have also engaged in investment and trading activities in order to gain more profit that maintain the reserves in case a decrease in interest rate occurs due to the changes in macroeconomic factors that also happen to be relatively correlated with the Interest Rates. 1. 1. 2. Revenue Diversification: Reducing Risk for Bank Capital? risk such as credit risk, and interest risk. This is used in managing asset portfolios in order to minimize losses or even offset it with profitable assets. In Banking, after the introduction of Financial Liberalization, wherein deregulation of banks have been granted, amount of competition among banks have grown until it reached the point that these banks had to differentiate the products and services they offer other than the traditional Loans and Deposits. This is where Non-Traditional Banking Activities come in. Non-Traditional Banking Activities are activities or services offered by banks at a given fee, therefore generating Non-lnterest Income. And now that banks have a simultaneous generation of Interest and Non-lnterest Income, Revenue Diversification is done. 1. 2. Problem Statement What are the effects of Non-Traditional Banking Activities on Revenue Diversification of Universal and Commercial Banks in the Philippines from 2008-2012? Page 2 1. 3. Objectives a. ) To identify the different banking products and services offered in the Philippines that are classified as Non-Traditional Banking Activities b. ) To determine whether Non-Traditional Banking Activities have positive or negative effect/s on Revenue Diversification of Banks c. To be able to recommend on which banks services will be able to take advantage of the use of Non-Traditional Banking Activities/Non-lnterest Income. 1. 4. Hypothesis HO: Non-Traditional Banking Activities (such as fee-based services and trading services) dont have any significant effect on banks revenue diversification which, in theory, should reduce risk of insolvency. HI : Non-Traditional Banking Activities (such as fee-based services and trading services) have a significant effect on banks revenue diversification which, in theory, should reduce risk of insolvency. . 5. Assumptions of the Study This study will assume that revenue diversification is the diversification of noninterest income. According to historical data of interest rates in the Philippines by tradingeconomics. com, it appears that interest rates are relatively stable. With the help of the data presented by tradingeconomics. com, this study will now assume that interest income is stable. As for data to be collected, this study shall assume that the financial statements reported to the SEC and Osiris database are true and not adjusted in bad faith. With regards to the Page 3 sample, it will be assumed that the top ten universal and commercial banks Philippines. 1. 6. Significance of the Study This study is a follow-up on the study made by Nguyen (2010) as wherein Dr. Nguyen recommended an intra-country application of their study, of which the country would be the Philippines. This study will also determine whether Non-Traditional Banking Activities have a significant contribution on the revenue diversification of Universal and Commercial banks in the Philippines. At the end of this study, results gathered by the researcher will be used for recommendation on whether banks in the Philippines should focus on Non-Traditional Banking Activities or the Traditional Interest Income-earning Activities. The results of this study will be useful for Bank Managers, and Bank Regulators. Bank Managers This study is relevant for Bank Managers because the results of this study will determine whether or not Bank Managers would encourage their staff to exert more efforts in showcasing bank products and services other than deposits and loans. Marketing strategies per branch or the bank in general can help bring in more clients that will either avail trading services or engage in trusts with the bank. Or it can also tell Bank Managers to help their branches refocus on the traditional deposits and oans, depending on whether this study will generate a positive or negative outcome. Page 4 Bank Regulators Bank regulators will benefit from this study because they can either increase or decrease the level of deregulation of banks as well as the capital requirements of banks depending on the results of this study. . 7. Scope and Limitations The study will focus on the top 10 publicly listed Universal and Commercial Banks in the Philippines from 2008-2012 as listed by philpad. com (2012) because of the services these banks offer as well as the availability of data to the public. The esearcher will take the gathered data as it is recorded, and will disregard the effects of the Global Financial Crisis in the list of factors influenc ing the revenue diversification of banks as well as the utilization of non-traditional banking activities. . Review of Related Literature Banks have evolved over the centuries, and for the past decades, banks in the Philippines have Joined in the bandwagon when it comes to modernization of banking. Some of these developments include the use of ATMs, internet and mobile banking, and express deposits. These are additional services offered by the banks for convenient banking experience for their clients. For decades, banks have expanded from simple deposit-loan transaction, they have engaged into other profit-generating activities that not only generate income for their firms, but also provide further use the terms Traditional Banking Activities (TBAs) to refer to the banks usual Deposit-Loan transactions that earn Interest Income (and incur Interest Expense) and Non- Page 5 Traditional Banking Activities (NTBAs) to refer to other banking activities that are not DepositLoan transactions that earn Non-lnterest Income (and incur Other Expenses). Like most countries (if not all), the banks in the Philippines have classified and reported their income using two (2) main categories: Net Interest Income and Other Income (or Non-lnterest Income), which were also recognized by prior studies. 2. 1. Banks Banks are the most common and accessible among financial intermediaries. These institutions serve as a bridge connecting people who wish to save their excess money and people who need to spend money for different reasons. And for centuries, banks offer their main services of keeping deposits and lending out loans. Being a financial ntermediary, their access and ability to distribute money is highly regulated by the government, specifically the Central Bank. Over the years, banks have developed and expanded its services from the standard Deposit and Loans to Brokerage and Trading. However, these services are only available to specific banks depending on the services they offer, as well as their target client market. Classifications of these banks are as follows: Universal Banks Commercial Banks Savings Banks Rural Banks Cooperative Banks Page 6 most common ones are universal and commercial because they have the most pdated set of services that are most accommodating to the needs and wants of his/ her client. 2. 2. Classifications of Banks According to Section 3 and other sections of the General Banking Law of 2000 there are four (6) main types of banks in the Philippines (Circular No. 271 dated 8 January 2001): Thrift banks, Commercial banks, Universal banks, Rural banks, Cooperative banks and Islamic banks. Thrift banks, defined by the BSP, are savings and mortgage banks, private development banks, and stock savings and loans associations organized under existing laws. (Thrift Banks Act of 1995, Sec. 3a). Commercial Banks, on the other hand, are banks that offer a full range of financial services, including checking, savings, lending, and most other services (Kapoor et al, 2013). these possess the powers of Thrift bank but in addition to that, Commercial Banks may issue letters of credit, accept negotiable instruments, and negotiate evidences of debt and promissory notes. Universal banks, according to Saunders and Cornett (2008), offer not Just investment banking services, but also commercial lending, foreign exchanges and custody and cash management services. of which covers most of the banking services available for clients. Rural banks are, as defined by the Philippines National Statistical Coordination Board (NSCB), are banks sponsored or assisted by the government, which are privately managed, that lend money to farmers and merchants in order to fund their livelihood in the rural areas such as purchasing agricultural equipment. Cooperative Banks are banks owned and accommodated by the same group of people, usually of the same community or profession, and serves as the financing institution providing loans, accepting deposits and other financial services for the said page 7 group of people (icba. coop, n. d. ). Lastly, Islamic banks, as described by the Institute of Islamic Banking and Insurance, are banks that apply the principles of Shariah (Islamic rulings) through the development of Islamic economics. = (Islamic- banking. com, n. d. ). Therefore, these banks practice the strict rules and principles of Islam, presumably based on the teachings of the Quran. As for the Philippines, banksphilippines. com (2012) as of 2012, there are 705 banks in the Philippines, thirty-seven (37) of which are Universal and Commercial Banks. The rest would include Thrift Banks, Rural banks, Cooperative Banks, Islamic banks and Quasi-Banking institutions. According to a forum from philpad. com (2012), the top players, as well as the top ten in the banking industry as categorized by assets are the following: 1. BDO 2. Metrobank 4. Landbank 5. RCBC 6. Development Bank of the Philippines 7. Philippine National Bank 8. Chinabank 9. Unionbank 10. Security Bank (source: philpad. com) Page 8 2. 3. Deposits and Loans: Traditional Banking Activities For decades, banks have relied heavily on the traditional net interest income earned due to the constraints brought by banking regulations. There might have been the existence of Nonlnterest Income, but it was minimal because banks would try to void violations of the said regulations. Banks have operated as financial intermediaries in terms of keeping deposits of savers and giving out loans to spenders and borrowers. Similar to other companies, banks earn from their operations. A summary of this basic operation of Traditional Banking Activity is given by economicshelp. com (2013), wherein Banks would take clients deposits and use these deposits to give out loans to other clients in different terms. In this process, banks would pay interest to its depositors and collect interest from its borrowers. The net of the interest would then become the main income of the bank. Now, this so- called interest is based on the interest rates offered by bank, in compliance with the Central Banks reserve requirements, which fluctuates based on the economic condition of the country. And as these banks develop over time, they have come up with the idea of interest, an amount charged to borrowers and paid to lenders. However, since loans and deposits dont have an exact off-setting rate, the difference between the interest from loans and the interest of deposits is the so-called Net Interest Income earned by banks (Investopedia, 2013). Interest rates are influenced by external factors in the economy. It is through the Monetary Policies dictated by the Central Bank that interest rates are adjusted depending on the Money Supply in circulation. If there is too much money in circulation, Contractionary Monetary Policy is implemented, raising Interest Rates in order to attract depositors while Expansionary Monetary Policy is implemented when Money Supply is low, in order to Page 9 discourage clients from depositing their money in banks. Using the Philippine Benchmark Interest Rate graph from 2002-2012 reported by tradingeconomics. com, interest rates are relatively stable over time but had dramatic decreases when it hanges. Back in 2002, the Philippines had interest rates ranging from 6. 5% to 7. 5% Global Financial Crisis. These effects have greatly influenced the Banking Industry especially their income generation from interest. 2. 4. Non-Traditional Banking Activities Banks, like most companies, are also expense-incurring firms with the need to generate income in order to cover for these expenses. Employees salaries, Equipment (ATM) maintenance, Delivery Costs, Security Expenses, and Transaction Costs are Just some of the many expenses that banks incur in order to provide convenience and good service to their clients. However, given the low interest rates in the economy, interest income alone seems to be insufficient to cover for these expenses, and Inflation rates havent been placed in the equation yet. Another source of income for banks is what we call Non-Traditional Banking Activities, activities and transactions that are not directly concerned with charging Loans or paying interest to depositors. Stiroh (2002) classified Non-lnterest Income into four (4) main categories based on the activities engaged by banks. 2. 4. 1. Deposit Loan: Traditional One of the most common activities operated by banks is mediating the lending- orrowing process of money between savers and spenders. However, in order to attract savers to open page 10 deposit accounts in their branches or safes, banks offer interest income for depositors, relative to how much and how long the money will be deposited in their account. These terms are relatively important because the terms will be the determining factor in matching peoples deposits with borrowers loans, depending on the capacity of the borrower to pay on time. In the Philippines, only a few people are able to deposit their money in their accounts because of either lack of nformation or the threat of loss from banks in case of robbery and the like. But surprisingly, according to a recent study, 80% (or 8 out of 10) Filipino households dont have bank accounts. 2. 4. 2. Non-Traditional Banking Activities in the Philippines 2. 4. 2. 1. Trading Aside from the lending operations performed by banks, banks have also covered the financial market such as the Foreign Exchange (FX) market, Stock market, and the Derivatives market. Trading Income, as described by Stiroh (2002), is income derived changes. Banks added trading financial instruments as part of their products and ervices since banks have the expertise when it comes to managing risk, computing possible profits in holding to certain assets, and the like. Trading in the financial markets is highly volatile, which is why Banks engage in trading here because of the concept high risk, high return. Now, given the wellcomputed chances of earning a relatively high profit in the financial market, banks are given the possibility of gaining enough funds to cover risks of the possible changes in interest rates as well as additional funds that can be used for investment and payment of expenses. In Banks Page 1 1 such as Bank of the Philippines Islands (BPI), existing clients need not open a new account to trade; rather, these clients can already use their existing accounts to trade. 2. 4. 2. 2. Other Services: ATMs, Fiduciary, etc. Technological innovations continue to improve banking in the Philippines, all for the convenience of banking for clients. The relatively older examples of these innovations is the use of Automated Telling Machines (ATMs), the purpose of which is to provide an easy-access to money wherever the client may be, as long as there is the presence of ATMs in the area. Now, these ATMs are considered a long-term investment made by banks. In order to maintain this equipment, as well as the printing of receipts, fees are to be charged against the clients. While banks would usually not charge the clients for using the banks ATMs, the most common fees charged are the instances wherein the client would withdraw their money from another banks ATM because not finding an ATM of ones bank is inevitable. Services charge-, commission-, and bank fee-generating activities are also part of a banks set of activities because the clerical work and other menial work performed by bank employees are part of the anks non-interest expense that are being incurred regularly, therefore it must also be compensated as part of the banks regular operations. In the Philippines, there are approximately 12,700 ATMs in all over the country with around 10,900 coming from universal and commercial banks. Fiduciary businesses are also being accommodated by banks under the trust department in the Philippines. In the Philippines, only a few banks are being authorized by the Bangko Sentral ng Pilipinas (BSP). These activities would include managing investments and estimating risk for prospect investments. page 12 2. 5. Non-lnterest Income: Is it a Factor for Bank Stability? isk, and both sides have a common relation of the two factors but opposite sides of the given relationship: Revenue Diversification. If Finance, in general, views Diversification as a good thing (given the context of Asset Portfolio Diversification), there are others who view otherwise when it comes to Bank Revenue Diversification. When it comes to determining the effect of Non-lnterest Income on the Banks overall risk, two groups of studies that discuss whether or not Non-lnte rest Income provide diversification benefits especially when it came to Risk Reduction. In a study conducted by the group of Nguyen (201 1), Non-lnterest Income contributes to the Revenue Diversification of banks, therefore minimizing the risks of not earning income to be used for either investment to equipment or help preserve their clients deposits therefore preventing the banks from declaring bankruptcy due to the available funding banks will obtain after earning/gaining profit from Non- Traditional Banking Activities. The findings of Nguyen are being supported by Smith (2003). However, in the study, it is said that Non-lnterest Income is not a stand-alone ource of income, rather, Non-lnterest Income and Interest income work simultaneously (Smith, 2003); therefore NIIs and Interest Income are not complementary as their correlation becomes closer and closer. In search of diversification benefits from Non-lnterest Income, Stiroh (2002) was able to prove that instead of reducing risk, NIIs actually add up to the riskiness in terms of Bank Stability because the nature of NIIs, specifically Trading Income, is highly volatile and is dependent on the demand and supply of the underlying assets involved in trade. This theory is page 13 also supported by the studies of Bailey-Tapper (2010). Non-lnterest Income is volatile because its demand is also fluctuating based on the demands of the clients also dependent on the economic standing of the country, therefore, despite the chances of getting high returns, it does not help in maintaining stability of the banks income. Lets say, a banks performs its Traditional Banking activities of Loans and Deposits, it is sure to earn Interest Income for every client it serves and it is constant throughout the year. But add the generation of Non-lnterest Income, Total Income generated per period has become volatile since the generation of Nonlnterest Income is variable epending on its clients. And with volatility comes risk making the Banks Income unstable, which then defeats the purpose of Revenue Diversification. However, a common misconception was clarified in the work of De Young and Rice (2004). While most studies would claim that non-interest income strictly come from nontraditional banking activities, De Young and Rice (2004) would claim that non-interest income is also generated from traditional banking activities such as deposits wherein checking fees, safe-keeping fees and cash management fees are also charged to the clients. But other than that, De Young and Rice (2004) support the claim of Stiroh (2002) that non-interest income activities are less stable than interest income. On the other hand, Smith (2003) thinks otherwise. Their study shows that the mix of relatively high (or positive) and Stabilize bank profits via Revenue Diversification. With the contribution of Non-lnterest Income, Total Interest Income is not affected by the economic fluctuations of interest rates, therefore being more capable of generating new capital for the bank. Page 14 Given the arguments of the literatures above, the study will then test which concept s applicable in the Philippine setting and therefore determine which banking activities will be more profitable for the Universal and Commercial Banks in the page 15 2. . Literature Map Page 16 2. 7. Research Gap This study will follow the recommendations made by the group of Nguyen (2010) regarding the intra-country application of their paper by measuring the correlation of the use of Revenue Diversification with Bank Stability, Profitability, and Bank Market Power. This study will further discuss and identify whether it is Interest Income from Traditional Banking Activities o r Non-lnterest Income from Non-Traditional Income Activities. 3. FRAMEWORKS 3. 1 . Theoretical Framework In this study, banks will be illustrated in a market set-up using the point of view of the bank (excluding the concept of competition), which will consist of environment, stakeholders, strategies used, and measurement of success of the said strategies. For the market environment, Random Walk theory will be used in order to explain the volatility and uncertainty of the market. As for the stakeholders such as the banks investors and depositors, Modern Portfolio Theory shall be used in order to describe the preferences of the banks stakeholders when it came to choosing which nstitutions theyd place their money on. In order to satisfy the stakeholders and to give assurance, the strategy of Diversification, specifically Revenue Diversification between interest and non-interest income, will used in order to theoretically reduce the risk of insolvency of banks. To measure the risk and return of these banks, the financial ratios on ROE and Profitability as well as solving for variance and standard deviation of income will be used. And finally, in order to measure for risks taken by the banks, with regards to total income, Sharpe Ratio will be used. page 17

Global Leadership essayEssay Writing Service

Global Leadership essayEssay Writing Service Global Leadership essay Global Leadership essayThe paper will focus on cross cultural for Global leaders. Specifically, with regard to global organizations, the paper will also attempt to reconcile the imbalance between global and local concerns by proposing a framework that merges a new understanding of culture with a classical leadership approach. The paper objective is to achieve more effective cross cultural practice. The paper should show the effectiveness of great leaders when they have good communicate skills. This is actually one of the most challenging course a leader will face. Knowing how to communicate will take away the fear of culture shock. Culturally intelligent leaders must understand that the way they communicate is critical to their success. As a global leader, you need to use clear language, which may also determine how much information will need to be imparted in order to achieve the required goal and what the consequences and/or rewards are for the followers. The leader must always lea rn how to adjust their communication style to adjust or transition from one culture to the next.

The Black Codes and Jim Crow's Laws Legislation Being the Reason for Essay

The Black Codes and Jim Crow's Laws Legislation Being the Reason for the Failure of Reconstruction in the US - Essay Example Racism and the direction of war to contain slavery in the early American society of 1800s saw two opposing sects of the society dragged into historical civil war.The civil war resulted due to the differences that existed between the Southern States and the Northern States concerning the fate and future of the slaves As at the time of this difference, the Northern States underwent rapid periods of industrialization and required labors to work in the industries. The Southern States on the other hand continued to practice plantation farming with the main crop being cotton. The process of working in the cotton farm required intensive labor that provided by the slaves. This explains the difficulty exhibited by the Southerners in releasing the slaves (Winslow 27). The Northerners held firmly and campaigned for the freedom of slaves to ensure their engagement in paying employment. This difference marked the actual start of the civil war with the Southerners seceding and organizing into Conf ederate Armies whiles the Northerners organizing into Union Armies. It was after the civil war of 1861 to 1865, that the Southern States that faced dire economic hardship combined to seek for reunion and reconstruction with the North. The journey to reconstruction particularly begun in 1865 after the end of the Civil war, and characterized with attempts of the Southerners to reconcile up with the North in order to solve political, economical and social problems faced by the individuals states. Reconstruction saw the previously seceded eleven Southern States applying for readmission into the Union (Franklin 64). Now, the North was under the dominance of the Republican legislators who unanimously supported the abolition process of the slaves. This stand invited proposal of firm and strict measures for the Southern States before regaining the admission in the Union. In so doing, the Northern and dominant legislatures approved the Reconstruction Act of 1867 as a basis of compliance for the Southern States before readmission. According to Franklin, the Reconstruction Act 1867 proposed for the establishment of military camps in the South (62). In the Act, Northerners demanded that Southerners accepts, comply and practice the 14th and 15th constitutional amendments before gaining readmission into the Union. The reconstruction process faced numerous impediments and hurdles mainly from the Black Codes and the Jim Crow’s laws. Franklin unravel that the Black Codes and the Jim Crow laws were all destined to disapprove the black race as well as express their inferiority in the societies (65). Black codes in specific were laws formed in 1865 in the Southern States to define the black race. The black codes mainly targeted at encouraging and promoting the supremacy of the white, while consolidating inferiority of the blacks. The black codes were integral strategies of the Southerners to ensure continued supply of cheap labor to work in the plantation firms. Determinat ion of race based on black codes concerned the amount of Negro blood exhibited by given individuals (Franklin 65). In addition, the black code laws protracted blacks as vagrant individuals when they lacked employment and permanent residence. The black code laws allowed for the arrests, fines and or bound for labor when unable to pay fines. Black coding in the Southern America also limited the volume and amount of wealth held by an individual black citizen. The aspects of black coding as introduced by the Southerners restrained blacks from engaging in businesses and some forms of technical trades. The black coding instituted by the Southerners, restricted the slaves and blacks from bearing any form of arm. The black codes also did not allow slaves to assemble without the inclusion of a white. As observed by Franklin, black coding also assisted the Southerners in extending

SOC325 Essay Example | Topics and Well Written Essays - 2250 words

SOC325 - Essay Example Cultural pathways in every society are made up of everyday routines of life and the routines are made up of cultural activities like bedtime, playing video games, cooking, homework, watching TV, baby sitting for money or social visiting (Weisner & Lowe, 2004). Globalization has led to the disintegration of social communities and fragmentation of social ties. At the same time there has been enhancement in global communication and transportation which has strengthened transnational communities. Nevertheless, between Japan and Afghanistan there is income disparity which has which differently impacts families’ access to basic education and health. The Japanese society has traditionally been a collectivist society where group needs are placed over the individuals. This is changing to some degree but there is still a strong gender-based division of labor. The modern Japanese families are nuclear families and look much like an American family and this indicates a dynamic socio-cultural change at work (Bestor & Hardacre, 2004). The values have undergone a sea change which is evident from a report which says that teens that skip breakfast tend to engage in sex at a much earlier age than those who have regular breakfast (Kubota, 2008). The reason is that if the children do not have breakfast it is indicative of the disturbed family environment. Another example of fragmented social ties is the reduced birth rate in the Japanese society. Employees are now being given more free time to spend with their families and have more children in an attempt to reverse the trend of declining birth rate (Yamanaka, 2008). Although the Afghan society comprises of many ethnic groups, the characteristics remain unaltered. The family is the mainstay and there exists a closely knit bond between the members. They continue to maintain the patriarchal system of family where the oldest male member rules the house. Divorces were traditionally unheard of and

Link Natural (Pvt) International Audit

Link Natural (Pvt) International Audit EXECUTIVE SUMMARY Link Natural (Pvt) Ltds decision to advance their business to France was apart of the economical and socio-cultural analysis carried out to identify the market potential for the product (Link Samahan) to be sustainable in the French herbal market. The company is already conducting their businesses in many locations around the world, and France was a further step taken to expand their global presence. The following report is the market audit conducted in order to identify some of the key factors that should be taken into consideration when expanding a business across borders. A brief description of the product Link Samahan is presented initially in the report followed by an analysis of the product acceptance as well as possibilities of product resistance by the French consumers. This was identified through considering factors such as trialability, complexity, relative advantage, observability and compatibility of the product in the French herbal beverage market. The report further analyses the market in which the product will be sold and the geographical regions in France that were chosen for the initial business operations, namely Paris, Nice and Marseille. The basic transportation systems and modes in the selected areas are also discussed followed by the main communication methods used by them. Furthermore the report provides a description on consumer buying habits, distribution of the products, pricing strategies and the advertising and media usually used to reach the target market. A comparison and contrast between Link Samahan and its competitors in the French market is also carried out in the report. The comparison includes the prices, product features, packaging differences along with the promotional methods and distribution channels utilized by Link Samahan and the other competitors. Moreover, the report extends to discuss the market size indicating the trend of the industry sales and the expected sales for Link Samahan in the coming year. Finally, the agencies that will benefit the company and the important government regulations that should be followed by the company are discussed at the latter part of the market audit. INTRODUCTION Link Natural Products (Pvt) Ltd. is a leading business entity in Sri Lanka that provides herbal, Ayurvedic pharmaceuticals as well as safe and effective herbal healthcare products. Some of the main products of Link Natural include, Link Kesha hair oil, Link Sudantha toothpaste, Gotukola Tea and Spa/Aroma products. As a result of extensive research carried out for years, Link Natural introduced Link Samahan, a 100% natural herbal product to the market for curing common colds and similar ailments. Currently Link Natural is exporting their products to countries such as Malaysia, USA, UK, Germany, Thailand, India etc. (Company Profile, 2009) France being a European Union country owns the largest land among the EU countries. As an expansion in the maturity level of the product (Link Samahan), Link Natural has decided to distribute the product to three different locations situated in France. According to (Bell, 1997), French people consider herbal beverages to be healthy and they are most commonly used in every day life in the French culture. The demand for herbal products in the European market has risen over the years and this can be considered as a great opportunity for Link Natural to expand their business to France. In order to identify the target market and their potential it is vital to carry out a detailed market analysis with regard to the product. Thus the main focus of the following report will be to evaluate a market plan and audit for the purpose of marketing Link Samahan in the French herbal beverages market. The market audit will comprise of a detailed description on the target market, geographical distribution, diffusion of innovation of the consumers as well as advertising, pricing and promotions in terms of the herbal beverages market in France. THE PRODUCT: LINK SAMAHAN Link Samahan is an authentic herbal product made in Sri Lanka and it is made of 14 natural plants which are generally used in Peyave formulations. As stated in (Product Data Sheet, n.d.), in ancient Sri Lanka Peyave was considered to be one of the most popular cures for viral fevers and influenza, and it consists of a mixture of herbs in boiling water. This instant herbal beverage is used for common colds as other similar ailments such as sneezing, itching eyes, running noses etc. Currently Link Samahan plays the leading role in the Sri Lankan herbal products market for colds and other related ailments, and Link Samahan is being distributed to 32 destinations in eight different countries around the world, (About Samahan, 2009). (Refer Appendix 1). Link Samahan will be expanding into the herbal beverage market in France for the first time. An innovation is any product or a service that consumers perceive to be new, as stated by (Solomon, 2004, pg.567). Therefore, the following section will focus on how the proposed target market will perceive Link Samahan and their levels of acceptance and resistance will be determined. LINK SAMAHAN AS AN INNOVATION (As perceived by the intended target market) Diffusion of innovation refers to the process whereby a new product, service, or idea spreads through a population, (Solomon, 2004, pg.567). The rate of adoption may differ from person to person even within the same culture. According to (Solomon, 2004, pg.567) a study of 11 European countries found that consumers in individualistic cultures are more innovative than consumers in collective cultures. Therefore to identify the acceptance rate of Link Samahan in France a few important factors will be analyzed apart from the consumer behavioural changes among the target market. These factors are as follows: Relative advantage It is important that the consumers believe that the product is important and more beneficial for them than the alternative brands in the market, as the new product adaption rate is directly proportional to the relative advantage of the new product. The main characteristic of Link Samahan is that it is an herbal drink, which can be prepared instantly by just dissolving in hot water. Furthermore it has the relative advantage of being a complete natural product that can not only be used to prevent colds and similar ailments, but also can be used as a hot beverage. Therefore, it can be said that Link Samahan has a 2-in-1 relative advantage compared to other herbal beverages. Compatibility According to (Solomon, 2004, pg.570), the innovation should be compatible with the lifestyle of the consumers. No matter how convenient the product is, sometimes the consumers may not accept the product due to ethical or cultural issues. But as mentioned before according to (Bell, 1997), the French have a popular demand for herbal beverages, and have over a 70% of herbal products in large grocery stores and hypermarkets. This is one of the core reasons that Link Natural has decided to distribute Link Samahan to France. It can be stated that Link Samahan is strongly compatible with the French market and will potentially have a high usage rate. Complexity Link Samahan is a moisture-proof, triple laminated sachet with a net weight of 4 gram per packet and contains a soluble powder that can be instantly made, which makes it very low in complexity. For the convenience of the French people the directions and other details will be indicated in French, as well as English as opposed to the Sinhala, Tamil and English product details used in Sri Lanka. Therefore the product will be easier to understand and use over the other competitor brands available in the market. Trialability Link Samahan is considered to be a fast moving consumer good (FMCG). Therefore with regard to trialability, promotions will be carried out at the initial stage at the supermarkets and retail stores for the consumers to taste the product through free samples. Since consumers have the ability to try out the product and evaluate it through the free samples, Link Samahan has a very high trialability factor. Observability An innovation should be high in observability for an adopter to be aware of its existence. Having promotions as mentioned above can be of use to a certain extent (i.e. taste) but the exact outcome of Link Samahan cannot be observed immediately after the consumption. MAJOR PROBLEMS RESISTANCES TO THE ACCEPTANCE OF LINK SAMAHAN, BASED ON THE PROCEEDING EVALUATION Any company when entering to a new market or introducing a new product is faced with a potential risk of failure no matter how favourable the circumstances are. Therefore it is essential to analyze the consumer acceptance for the product in order to survive in the market. Based on the proceeding evaluation, Link Samahan has a high potential of the consumers acceptance as there are high levels of relative advantage, compatibility, trialability and it is also low in complexity. THE MARKET MARKETS IN WHICH LINK SAMAHAN WILL BE SOLD Through the sociocultural and an economical analysis conducted previously, it was identified that there is a favourable market for Link Samahan to be introduced in France. According to (Bell,1997), approximately 2500 metric tons are sold annually in the herbal beverages market in which 60% is in sachet format, 36% in instant products and about 2% in bulk. One of the main reasons to penetrate the French market is their acceptance of herbal beverages. It is most commonly used in many households and is enjoyed by most French people. Thus there is a demand for herbal products, and in addition to this, Link Samahan can also be used as a cheap effective way to cure common colds as oppose to using Saunas which is also highly popular in France. Link Samahan is an FMCG which can be afforded by anyone ranging from lower-middle level to upper level income earners. France has an estimated population of 64,057,792 as mentioned in, (France Demography, n.d) Geographical regions France is a Western European country which borders countries such as Belgium, Spain and Italy in the Europe region. 77% of the total population has been urbanized as of 2008 and 65% of the total population falls in the 15-64 years age category, (Central Intelligence Agency, n.d.) (Refer Appendix 2). The population is one of the main factors that have to be taken into consideration in deciding the main geographical regions for Link Samahan to be distributed and marketed to. According to research carried out by (Butler, 2009), the main cities in France with the highest populations are Paris (11,293,200 people), Marseille (1,532,400 people), Lyon (1,665,700 people), Toulouse (975,000 people), Nice (943,000 people) and Nantes (718,700 people). Furthermore, France is generally known to be a cold city and it is a country with typical seasonal changes through out the year. Also, according to (Central Intelligence Agency, n.d.), France is faced with floods, midwinter windstorms etc. at certain times of the year. Hence, the probability of people being faced with the common cold is high in terms of climate changes. The company has selected Paris, Marseilles and Nice to distribute and market Link Samahan due to the above mentioned reasons. Another primary reason for selecting Marseilles and Nice is the easy access due to being situated in the coast of France bordering the Mediterranean sea. Hence geographically there is easy access to these cities and the products can be shipped conveniently from Sri Lanka. Forms of transportation available in these regions Paris There are many forms of transportation used in Paris. It consists of four airports, Roissy-Charles de Gaulle and Orly being the main two commercial airports and, Le Bourget, and Beauvais Tille being two smaller airports for budget airlines and private jets, (Paris Airports, n.d.) Gare de Lyon train station in Paris provides rail services to the south and east of where Marseilles and Nice are situates. Therefore, Link Samahan can easily be transported to and fro from Paris to the other 2 selected locations, (Gare de Lyon, n.d). Apart from this the Metropolitan underground train network and the two tramlines are also commonly used for transportation in the city of Paris. The bus network in Paris covers the Ile-de-France region and also it extends in the central Paris. However, traffic has to be taken into consideration when travelling by bus as Paris a busy city, (How to use Parisian transport networks, 2003). Marseille Marseille has one airport. Similar to Paris it consists of a bus network and two metro lines which are commonly used among passengers. It is convenient to travel using the Metro Line over the bus network due to the heavy traffic situation in the city. The main train station in Marseille is called Gare Saint Charles and it connects to Paris, which takes approximately 3 hours, (Marseille Transport, 2007). The Marseille Port, being the largest port in France, plays a major role in transporting of Link Samahan from Sri Lanka to France, as the company will be using Vieux Port in Marseilles as the main port to distribute the products to Marseille and Paris and Nice respectively, (Marseille Cruise Port, 2009). From Marseilles, Link Samahan will be transported via train from Gare Saint Charles Station to Paris. Nice The main concern of the company is transporting the product from Marseille to Nice. Therefore the Link Natural (Pvt) Ltd. will be using the railway system for the means of transporting the product to Nice. Communication available in these regions The most common methods in communicating in Paris are through telephone, Internet, and television. Some of the main telecommunication companies situated in Paris are Coriolis Tà ©là ©com, France Telecom, Orange (France Telecom), Bouygues Tà ©là ©com and SFR in which most provide the consumers with telephone as well as internet broadband facilities. (France Telecommunication Companies, 2009) According to (Internet World Stats, 2008) the main dominator of all telecommunication methods such mobile, fixed, Internet and broadband in France is France Telecom. Similar to Paris, Nice and Marseille also use Internet, Telephone and television as main methods of communication. 58.1 % of the population uses the Internet in France (Internet World Stats, 2008). Therefore, Link Natural can use Internet advertising to promote Link Samahan in France for wider reach of the target market. According to (Television Viewing by Country, n.d.), the average viewing rate of television in France is 23 hours per person per week, which indicates that accessibility for television is high among the consumers and therefore television media can be used as an effective means of communicating the product to the customers. Consumer buying habits Consumers buying habits may vary according to the type of products purchased by them. For instance, people may compare and contrast when purchasing a shopping good with the alternative products available in the market. Since Link Samahan is a consumer good, which needs little effort of the consumer in purchasing the product the consumers in the intended target market are not expected spend a lot of time in deciding on purchasing the product. However, since the herbal beverages market is considerably large in France it is vital to pay attention to the leading competitors brands purchased most frequently by the consumers. Product use patterns The herbal beverages market in the Europe has grown over the years due to health concerns of most consumers. People are more careful with their health as a result of their busy scheduled lifestyles. The French generally tend to consume herbal infusions daily in the night after dinner time. Therefore the usage of herbal beverages in France is regular and consistent in the current market. Product feature preferences Most people look for convenience when purchasing products and are more health conscious considering the health issues that they are exposed in the society as previously mentioned. Link Samahan is marketed as a two in one product, which is an herbal cure of colds, as well as a normal hot beverage to the consumers. Therefore the taste of the product is given special consideration so that the consumers will show a favourable response towards the product. It also an instant drink which can be prepared easily. Shopping habits According to the research carried out it was identified that the average consumer purchases herbal beverages approximately once in every three weeks. With the rise in health concerns among the people and herbal beverages being conveniently available in the local retail and supermarket outlets customers are bound to purchase them on a regular basis. Distribution of the product Most of the herbal beverage products are available all over France. They are mainly distributed in local grocery stores, retail outlets and many international supermarket and hypermarket chains located in the country. According to (Shopping in France, n.d.) some of the main supermarket chains are Champion, Carrefour, Auchan, Casino, Leclerc and Intermarchà ©. Advertising and Promotion Advertising media usually used to reach the target market The usual methods of advertising FMCG products are through television, radio, and newspaper/magazine advertisements, as they are targeted towards a mass market of all levels of income earners. Having the fourth highest television-viewing rate in the world, 99% of the households in France have access to televisions especially in the urban areas. According to (Press Reference France, n.d.), there are 584 television networks currently operating in France and marketers of FMCGs frequently use television advertisements. Another popular method of advertising is through Radio networks, as most people have access to radios. Considering the busy lifestyles of the people most companies have adopted this method as people in urban as well as rural areas are known to listen to the radio even when doing other work. Other methods used include newspapers and magazines. French are said to have a high literacy rate of 99% and newspapers and magazines are commonly used around the country. Apart from these methods, Internet is also widely used for advertising consumer products as most people purchase goods online, especially the younger generation. Sales promotions customarily used For most FMCG products, most commonly used sales promotions methods are buy one get one free promotions, in store promotions and free sampling promotions held at retail stores and supermarkets. Pricing Strategy Initially Link Natural will be using the price penetration strategy at a set price of â‚ ¬10.50 intending to attract more customers and capture a larger market share. However, the price maybe varied accordingly in the future depending on the purchasing trend of the consumers and discounts will be given during different seasons. COMPARISON CONTRAST OF LINK SAMAHAN WITH THE COMPETITORS PRODUCTS Link Samahan Brand Name: The name Link Samahan is a family brand name, which is derived from the company name Link Natural. This gives Samahan a special recognition for the consumers, as Link Natural is a well-reputed company in many countries in the EU. Features: Link Samahan is made using 14 natural Ayurvedic herbs, which were chosen through a comprehensive study done by Ayurvedic scientists for years. The main feature of the product is that it is a beverage, which can be made instantly by dissolving in hot water. The basic flavors of Samahan are Lime and Lemon, and will extend to include Mint and Linden (which is a common taste preference of the French people). Package: The 100g pack consists of 25 moisture-proof, triple laminated sachets with a net weight of 4 grams per packet. The details on the sachet will be indicated in both French and English for the convenience of the consumers. The sachet will be yellow and green in color to give a natural look and the colors will be differed accordingly when new flavors are introduced. The competitors products Link Samahan is mainly marketed as a medicine for curing common colds as well as a regular herbal beverage. Therefore there is no direct competitor for the product although there is a large market for herbal beverages in France. There are many herbal tea products available in the French market. The market leader is Lipton with more that 46% of the herbal sachet tea market. The Lipton Company brands Elephant and Saveurs du Soir, dominate the French herbal beverage market by providing various types of herbal tea flavors. The bulk herbal tea market is dominated by La Tisanerie brand, which is also a popular brand available in France. However, they also sell sachet packages in a variety of flavors. Apart from these competitors, Solinests Ricola brand of instant herbal infusions dominates 90% of its product area while 10% of the market represents other Store brands, (Bell, 1997) (Refer Appendix 3) Lipton Brand name: Lipton Elephant Brand Lipton Saveurs Du Soir Features: Both brands mentioned above are herbal teas and have different types of flavors ranging from mint to a wide range of fruit flavors. The price ranges from  £6.00 to  £7.00. Package: Each pack contains 25 sachets and is presented in their own unique color depending on each flavor. Foods International Brand name: La Tisanià ¨re Features: La Tisanià ¨re is also an herbal tea with various flavors such as Les Fruisanes range, which has a variety of fruit flavors, Trà ©sors de Nature range, which has a variety of flavors combining flowers and herbs and the Wellness range. (What about La Tisanià ¨re, n.d) Package: Different flavors are presented in different colors and packed in 25 sachet boxes. Ricola Brand name: Ricola Features: Ricola herbal tea is a popular hot beverage especially during the winter season and is commonly used as a remedy for colds and coughs, (Instant Teas, n.d.) Similar to other competitors, Ricola also offers a wide variety of flavors in their herbal tea range. Package: Ricola teas are generally packed in a plastic container ranging from 200g onwards and in presented in different colors according to the flavors. Comparison All competitors of Link Samahan fall under the herbal tea category. Therefore there is a relative advantage for Samahan as it will be marketed as an herbal beverage as well as a medical concoction used for common colds and similar ailments. Most competitor brands seem similar in appearance which makes it hard for the consumers to distinguish between them at a glance. However, Link Samahan will be presented in its own unique packaging so that it will be visible among rest of the products. The most significant difference between Link Samahan and other competitors is that the price of Link Samahan will be slightly higher due to the fact that it is more of a remedy to cure colds as well as a regular herbal beverage. The competitors price The following is a list of prices of the competitors available in the herbal beverages market. There is no significant difference between the prices of each brand. Competitors promotion and advertising methods The primary method of advertising used by Lipton is through newspaper advertisements. Lipton range consists of a wide range of brands. Thus, they advertise each brand separately rather than as a whole. Since most people have access to reading newspapers daily, they believe that it is the best way to capture the target market. La Tisanià ¨re on the other hand is mainly advertised through radio advertisements along with the Twininngs and Ovaltine, which are the other hot beverage products of their mother company Foods International. Ricolas main focus is on health magazines as they stress on health benefits of consuming Ricola herbal tea such as a cure for coughs and colds. However, Ricola products are also advertised through radio advertisements as well as newspapers through feature articles etc. Other main promotion methods used by these competitors are discounted prizes, special draws and competitions, sponsoring various events and coupon systems. Competitors distribution channels Lipton: Hypermarkets and supermarket chains Foods International: Supermarket chains and retail stores Ricola: Hypermarkets, supermarkets and retails stores MARKET SIZE Estimated industry sales for the planning year According to the research carried out in France, a rise in the industry sales is expected in 2010/2011 due to the regular consumption of herbal products among the consumers. The income level of the consumers may not affect them since herbal beverages are considered as an FMCG. Estimated sales for Link Samahan for the planning year The graph indicates the forecasted sales for Link Samahan for the year 2010 per city. According to the figures shown, approximately about 45,350 packets per city will to be sold and roughly about 3250 packets will be sold per month in average in the year 2010. Furthermore, Link Samahan is expected to detain the market share rapidly in the French market according to the number of estimated sales. All these details are further discussed in the preliminary marketing plan. GOVERNMENT PARTICIPATION IN THE MARKET PLACE Agencies that can help Link Natural The herbal beverages industry especially herbal tea industry is a rapidly growing market in France. Apart from being sold mainly in hypermarkets and supermarkets, herbal beverages are commonly used in health care centers, hospitals, holiday spas as well as hotels around the country. The usage of herbal beverages can be highly encouraged among the consumers through most of these agencies which will benefit the sellers in the trade. For instance, Link Samahan can be made available in popular health spas and hotels such as George V-Buddha Bar Spa, Ban Thai Spa, Bleu comme Bleu and Spa Anne Fontaine in Paris, (Spas Whats New,n.d.), and SPA de lhotel Boscolo Exedra Doctor, sauna le cercle Nice Saint Maurice and Nyrvana Madeleine Nice, in Nice (Saunas and Spas in Nice, 2009). It will also enable brand recognition through making the products available in recognized organizations to grab the attention of the target market. Regulations that must be followed It is vital that all companies follow the rules and regulations of the country to avoid complications. France belongs to the European Union and according to (Gauthier, 2005, pg.7), the European Commission has decided to draft a legislation on herbal medicinal products, dietetic foods, nutritional and functional claims, and fortified foods. Also according to (Gauthier, 2005, pg.7), the French Research Center on Nutrition and Food has a recommended allowance of a percentage of ingredients in the products to be consumed daily, and if the product doesnt meet those requirements, a special authorization from the French Public Superior Council for Hygiene (CSHPF) should be obtained by the manufacturer to market the product. Also according to French regulations it is important that all information such as product definition, list of ingredients, shelf life, weight and volume etc. are labeled in French on the packaging of the product. (Gauthier, 2005, pg.7) Apart from these, according to (France Trade Regulations and Standards, n.d.), quality and ecological labels, bar code price labeling, and usage instructions should also be mentioned. In general it is important that the product does not portray any offensive material that is not accepted socially, religiously, ethically etc. in France as it will not be accepted under the government regulations. MARKETING PLAN EXECUTIVE SUMMARY The following preliminary marketing plan was prepared by Link Natural (Pvt) Ltd to present a comprehensible idea on their business expansion of Link Samahan to France after conducting an ample research on the feasibility of the product in the French market. The main objective of this report is to guarantee that the product will be successful in the French market when competing among the alternatives available. The report portrays a detailed description mainly on the intended target market focusing on geographical, sociological, demographical etc. aspects, which are relevant to B2B and B2C markets. It gives an insight to the expected sales and the profit expectations for the year 2010. Furthermore, it explains the penetration strategies used by the company to gain market share of the consumers of herbal beverages in the market. It is imperative to analyze the product adaptation and modification by using factors such as core components, packaging, and support services etc. to grasp a clear interpretation of the product, which is described with sufficient details in the analysis. The report also focuses on to one of the major components in the marketing the mix, the promotions of the product carried out in France. The overall promotion objectives are explained followed by advertising, sales promotions, personal selling and other promotional tools used by the company to promote Link Samahan among the French consumers. Moreover, it explains the distribution components from origin to destination, which includes port selection, mode selection, packing, important documentations, insurance claims etc. as well as channel of distribution and more importantly the price determination of the product. Finally the terms of sales and method payment used by the company are explained followed by the budget and the financial statement of the entire business plan. Therefore as mentioned above, the crucial factors are highlighted in this report to ensure the success of Link Samahans establishment in the French market. THE MARKETING PLAN MARKET OBJECTIVES Target Market France has been ranked the 19th most populated country in the world, with a population estimate of 64,057,792, as stated in (France Demography, n.d.). It is therefore impractical to target the entire population of the country. The company has taken into consideration factors such as demography and geography when selecting the target market for Link Samahan. Demographically, the variables that were taken into consideration when selecting the target market were age, sex and income status. 65% of Frances population falls within the age group 15-64 years (Central Intelligence Agency, n.d.). Both males and females having a lower-middle to upper level income will be targeted since Link Samahan is an FMCG and is generally affordable to all the income groups mentioned above. Geographically, Paris, Marseilles and Nice are 3 of the most populated and metropolitan cities in France. Collectively in these 3 cities, the total population amounts to approximately 14.6 million (France People, 2006). Therefore, the primary business-to-consumer (B2C) target market for Link Samahan in France is: males females, from lower-middle to upper level income groups, between the ages of 15-64 who are primarily residing in the cities of Paris, Marseilles or Nice. There will also be a business-to-business (B2B) target market which would consist of the most visited retail stores, supermarket chains, hypermarkets and health holiday spas in the sele Link Natural (Pvt) International Audit Link Natural (Pvt) International Audit EXECUTIVE SUMMARY Link Natural (Pvt) Ltds decision to advance their business to France was apart of the economical and socio-cultural analysis carried out to identify the market potential for the product (Link Samahan) to be sustainable in the French herbal market. The company is already conducting their businesses in many locations around the world, and France was a further step taken to expand their global presence. The following report is the market audit conducted in order to identify some of the key factors that should be taken into consideration when expanding a business across borders. A brief description of the product Link Samahan is presented initially in the report followed by an analysis of the product acceptance as well as possibilities of product resistance by the French consumers. This was identified through considering factors such as trialability, complexity, relative advantage, observability and compatibility of the product in the French herbal beverage market. The report further analyses the market in which the product will be sold and the geographical regions in France that were chosen for the initial business operations, namely Paris, Nice and Marseille. The basic transportation systems and modes in the selected areas are also discussed followed by the main communication methods used by them. Furthermore the report provides a description on consumer buying habits, distribution of the products, pricing strategies and the advertising and media usually used to reach the target market. A comparison and contrast between Link Samahan and its competitors in the French market is also carried out in the report. The comparison includes the prices, product features, packaging differences along with the promotional methods and distribution channels utilized by Link Samahan and the other competitors. Moreover, the report extends to discuss the market size indicating the trend of the industry sales and the expected sales for Link Samahan in the coming year. Finally, the agencies that will benefit the company and the important government regulations that should be followed by the company are discussed at the latter part of the market audit. INTRODUCTION Link Natural Products (Pvt) Ltd. is a leading business entity in Sri Lanka that provides herbal, Ayurvedic pharmaceuticals as well as safe and effective herbal healthcare products. Some of the main products of Link Natural include, Link Kesha hair oil, Link Sudantha toothpaste, Gotukola Tea and Spa/Aroma products. As a result of extensive research carried out for years, Link Natural introduced Link Samahan, a 100% natural herbal product to the market for curing common colds and similar ailments. Currently Link Natural is exporting their products to countries such as Malaysia, USA, UK, Germany, Thailand, India etc. (Company Profile, 2009) France being a European Union country owns the largest land among the EU countries. As an expansion in the maturity level of the product (Link Samahan), Link Natural has decided to distribute the product to three different locations situated in France. According to (Bell, 1997), French people consider herbal beverages to be healthy and they are most commonly used in every day life in the French culture. The demand for herbal products in the European market has risen over the years and this can be considered as a great opportunity for Link Natural to expand their business to France. In order to identify the target market and their potential it is vital to carry out a detailed market analysis with regard to the product. Thus the main focus of the following report will be to evaluate a market plan and audit for the purpose of marketing Link Samahan in the French herbal beverages market. The market audit will comprise of a detailed description on the target market, geographical distribution, diffusion of innovation of the consumers as well as advertising, pricing and promotions in terms of the herbal beverages market in France. THE PRODUCT: LINK SAMAHAN Link Samahan is an authentic herbal product made in Sri Lanka and it is made of 14 natural plants which are generally used in Peyave formulations. As stated in (Product Data Sheet, n.d.), in ancient Sri Lanka Peyave was considered to be one of the most popular cures for viral fevers and influenza, and it consists of a mixture of herbs in boiling water. This instant herbal beverage is used for common colds as other similar ailments such as sneezing, itching eyes, running noses etc. Currently Link Samahan plays the leading role in the Sri Lankan herbal products market for colds and other related ailments, and Link Samahan is being distributed to 32 destinations in eight different countries around the world, (About Samahan, 2009). (Refer Appendix 1). Link Samahan will be expanding into the herbal beverage market in France for the first time. An innovation is any product or a service that consumers perceive to be new, as stated by (Solomon, 2004, pg.567). Therefore, the following section will focus on how the proposed target market will perceive Link Samahan and their levels of acceptance and resistance will be determined. LINK SAMAHAN AS AN INNOVATION (As perceived by the intended target market) Diffusion of innovation refers to the process whereby a new product, service, or idea spreads through a population, (Solomon, 2004, pg.567). The rate of adoption may differ from person to person even within the same culture. According to (Solomon, 2004, pg.567) a study of 11 European countries found that consumers in individualistic cultures are more innovative than consumers in collective cultures. Therefore to identify the acceptance rate of Link Samahan in France a few important factors will be analyzed apart from the consumer behavioural changes among the target market. These factors are as follows: Relative advantage It is important that the consumers believe that the product is important and more beneficial for them than the alternative brands in the market, as the new product adaption rate is directly proportional to the relative advantage of the new product. The main characteristic of Link Samahan is that it is an herbal drink, which can be prepared instantly by just dissolving in hot water. Furthermore it has the relative advantage of being a complete natural product that can not only be used to prevent colds and similar ailments, but also can be used as a hot beverage. Therefore, it can be said that Link Samahan has a 2-in-1 relative advantage compared to other herbal beverages. Compatibility According to (Solomon, 2004, pg.570), the innovation should be compatible with the lifestyle of the consumers. No matter how convenient the product is, sometimes the consumers may not accept the product due to ethical or cultural issues. But as mentioned before according to (Bell, 1997), the French have a popular demand for herbal beverages, and have over a 70% of herbal products in large grocery stores and hypermarkets. This is one of the core reasons that Link Natural has decided to distribute Link Samahan to France. It can be stated that Link Samahan is strongly compatible with the French market and will potentially have a high usage rate. Complexity Link Samahan is a moisture-proof, triple laminated sachet with a net weight of 4 gram per packet and contains a soluble powder that can be instantly made, which makes it very low in complexity. For the convenience of the French people the directions and other details will be indicated in French, as well as English as opposed to the Sinhala, Tamil and English product details used in Sri Lanka. Therefore the product will be easier to understand and use over the other competitor brands available in the market. Trialability Link Samahan is considered to be a fast moving consumer good (FMCG). Therefore with regard to trialability, promotions will be carried out at the initial stage at the supermarkets and retail stores for the consumers to taste the product through free samples. Since consumers have the ability to try out the product and evaluate it through the free samples, Link Samahan has a very high trialability factor. Observability An innovation should be high in observability for an adopter to be aware of its existence. Having promotions as mentioned above can be of use to a certain extent (i.e. taste) but the exact outcome of Link Samahan cannot be observed immediately after the consumption. MAJOR PROBLEMS RESISTANCES TO THE ACCEPTANCE OF LINK SAMAHAN, BASED ON THE PROCEEDING EVALUATION Any company when entering to a new market or introducing a new product is faced with a potential risk of failure no matter how favourable the circumstances are. Therefore it is essential to analyze the consumer acceptance for the product in order to survive in the market. Based on the proceeding evaluation, Link Samahan has a high potential of the consumers acceptance as there are high levels of relative advantage, compatibility, trialability and it is also low in complexity. THE MARKET MARKETS IN WHICH LINK SAMAHAN WILL BE SOLD Through the sociocultural and an economical analysis conducted previously, it was identified that there is a favourable market for Link Samahan to be introduced in France. According to (Bell,1997), approximately 2500 metric tons are sold annually in the herbal beverages market in which 60% is in sachet format, 36% in instant products and about 2% in bulk. One of the main reasons to penetrate the French market is their acceptance of herbal beverages. It is most commonly used in many households and is enjoyed by most French people. Thus there is a demand for herbal products, and in addition to this, Link Samahan can also be used as a cheap effective way to cure common colds as oppose to using Saunas which is also highly popular in France. Link Samahan is an FMCG which can be afforded by anyone ranging from lower-middle level to upper level income earners. France has an estimated population of 64,057,792 as mentioned in, (France Demography, n.d) Geographical regions France is a Western European country which borders countries such as Belgium, Spain and Italy in the Europe region. 77% of the total population has been urbanized as of 2008 and 65% of the total population falls in the 15-64 years age category, (Central Intelligence Agency, n.d.) (Refer Appendix 2). The population is one of the main factors that have to be taken into consideration in deciding the main geographical regions for Link Samahan to be distributed and marketed to. According to research carried out by (Butler, 2009), the main cities in France with the highest populations are Paris (11,293,200 people), Marseille (1,532,400 people), Lyon (1,665,700 people), Toulouse (975,000 people), Nice (943,000 people) and Nantes (718,700 people). Furthermore, France is generally known to be a cold city and it is a country with typical seasonal changes through out the year. Also, according to (Central Intelligence Agency, n.d.), France is faced with floods, midwinter windstorms etc. at certain times of the year. Hence, the probability of people being faced with the common cold is high in terms of climate changes. The company has selected Paris, Marseilles and Nice to distribute and market Link Samahan due to the above mentioned reasons. Another primary reason for selecting Marseilles and Nice is the easy access due to being situated in the coast of France bordering the Mediterranean sea. Hence geographically there is easy access to these cities and the products can be shipped conveniently from Sri Lanka. Forms of transportation available in these regions Paris There are many forms of transportation used in Paris. It consists of four airports, Roissy-Charles de Gaulle and Orly being the main two commercial airports and, Le Bourget, and Beauvais Tille being two smaller airports for budget airlines and private jets, (Paris Airports, n.d.) Gare de Lyon train station in Paris provides rail services to the south and east of where Marseilles and Nice are situates. Therefore, Link Samahan can easily be transported to and fro from Paris to the other 2 selected locations, (Gare de Lyon, n.d). Apart from this the Metropolitan underground train network and the two tramlines are also commonly used for transportation in the city of Paris. The bus network in Paris covers the Ile-de-France region and also it extends in the central Paris. However, traffic has to be taken into consideration when travelling by bus as Paris a busy city, (How to use Parisian transport networks, 2003). Marseille Marseille has one airport. Similar to Paris it consists of a bus network and two metro lines which are commonly used among passengers. It is convenient to travel using the Metro Line over the bus network due to the heavy traffic situation in the city. The main train station in Marseille is called Gare Saint Charles and it connects to Paris, which takes approximately 3 hours, (Marseille Transport, 2007). The Marseille Port, being the largest port in France, plays a major role in transporting of Link Samahan from Sri Lanka to France, as the company will be using Vieux Port in Marseilles as the main port to distribute the products to Marseille and Paris and Nice respectively, (Marseille Cruise Port, 2009). From Marseilles, Link Samahan will be transported via train from Gare Saint Charles Station to Paris. Nice The main concern of the company is transporting the product from Marseille to Nice. Therefore the Link Natural (Pvt) Ltd. will be using the railway system for the means of transporting the product to Nice. Communication available in these regions The most common methods in communicating in Paris are through telephone, Internet, and television. Some of the main telecommunication companies situated in Paris are Coriolis Tà ©là ©com, France Telecom, Orange (France Telecom), Bouygues Tà ©là ©com and SFR in which most provide the consumers with telephone as well as internet broadband facilities. (France Telecommunication Companies, 2009) According to (Internet World Stats, 2008) the main dominator of all telecommunication methods such mobile, fixed, Internet and broadband in France is France Telecom. Similar to Paris, Nice and Marseille also use Internet, Telephone and television as main methods of communication. 58.1 % of the population uses the Internet in France (Internet World Stats, 2008). Therefore, Link Natural can use Internet advertising to promote Link Samahan in France for wider reach of the target market. According to (Television Viewing by Country, n.d.), the average viewing rate of television in France is 23 hours per person per week, which indicates that accessibility for television is high among the consumers and therefore television media can be used as an effective means of communicating the product to the customers. Consumer buying habits Consumers buying habits may vary according to the type of products purchased by them. For instance, people may compare and contrast when purchasing a shopping good with the alternative products available in the market. Since Link Samahan is a consumer good, which needs little effort of the consumer in purchasing the product the consumers in the intended target market are not expected spend a lot of time in deciding on purchasing the product. However, since the herbal beverages market is considerably large in France it is vital to pay attention to the leading competitors brands purchased most frequently by the consumers. Product use patterns The herbal beverages market in the Europe has grown over the years due to health concerns of most consumers. People are more careful with their health as a result of their busy scheduled lifestyles. The French generally tend to consume herbal infusions daily in the night after dinner time. Therefore the usage of herbal beverages in France is regular and consistent in the current market. Product feature preferences Most people look for convenience when purchasing products and are more health conscious considering the health issues that they are exposed in the society as previously mentioned. Link Samahan is marketed as a two in one product, which is an herbal cure of colds, as well as a normal hot beverage to the consumers. Therefore the taste of the product is given special consideration so that the consumers will show a favourable response towards the product. It also an instant drink which can be prepared easily. Shopping habits According to the research carried out it was identified that the average consumer purchases herbal beverages approximately once in every three weeks. With the rise in health concerns among the people and herbal beverages being conveniently available in the local retail and supermarket outlets customers are bound to purchase them on a regular basis. Distribution of the product Most of the herbal beverage products are available all over France. They are mainly distributed in local grocery stores, retail outlets and many international supermarket and hypermarket chains located in the country. According to (Shopping in France, n.d.) some of the main supermarket chains are Champion, Carrefour, Auchan, Casino, Leclerc and Intermarchà ©. Advertising and Promotion Advertising media usually used to reach the target market The usual methods of advertising FMCG products are through television, radio, and newspaper/magazine advertisements, as they are targeted towards a mass market of all levels of income earners. Having the fourth highest television-viewing rate in the world, 99% of the households in France have access to televisions especially in the urban areas. According to (Press Reference France, n.d.), there are 584 television networks currently operating in France and marketers of FMCGs frequently use television advertisements. Another popular method of advertising is through Radio networks, as most people have access to radios. Considering the busy lifestyles of the people most companies have adopted this method as people in urban as well as rural areas are known to listen to the radio even when doing other work. Other methods used include newspapers and magazines. French are said to have a high literacy rate of 99% and newspapers and magazines are commonly used around the country. Apart from these methods, Internet is also widely used for advertising consumer products as most people purchase goods online, especially the younger generation. Sales promotions customarily used For most FMCG products, most commonly used sales promotions methods are buy one get one free promotions, in store promotions and free sampling promotions held at retail stores and supermarkets. Pricing Strategy Initially Link Natural will be using the price penetration strategy at a set price of â‚ ¬10.50 intending to attract more customers and capture a larger market share. However, the price maybe varied accordingly in the future depending on the purchasing trend of the consumers and discounts will be given during different seasons. COMPARISON CONTRAST OF LINK SAMAHAN WITH THE COMPETITORS PRODUCTS Link Samahan Brand Name: The name Link Samahan is a family brand name, which is derived from the company name Link Natural. This gives Samahan a special recognition for the consumers, as Link Natural is a well-reputed company in many countries in the EU. Features: Link Samahan is made using 14 natural Ayurvedic herbs, which were chosen through a comprehensive study done by Ayurvedic scientists for years. The main feature of the product is that it is a beverage, which can be made instantly by dissolving in hot water. The basic flavors of Samahan are Lime and Lemon, and will extend to include Mint and Linden (which is a common taste preference of the French people). Package: The 100g pack consists of 25 moisture-proof, triple laminated sachets with a net weight of 4 grams per packet. The details on the sachet will be indicated in both French and English for the convenience of the consumers. The sachet will be yellow and green in color to give a natural look and the colors will be differed accordingly when new flavors are introduced. The competitors products Link Samahan is mainly marketed as a medicine for curing common colds as well as a regular herbal beverage. Therefore there is no direct competitor for the product although there is a large market for herbal beverages in France. There are many herbal tea products available in the French market. The market leader is Lipton with more that 46% of the herbal sachet tea market. The Lipton Company brands Elephant and Saveurs du Soir, dominate the French herbal beverage market by providing various types of herbal tea flavors. The bulk herbal tea market is dominated by La Tisanerie brand, which is also a popular brand available in France. However, they also sell sachet packages in a variety of flavors. Apart from these competitors, Solinests Ricola brand of instant herbal infusions dominates 90% of its product area while 10% of the market represents other Store brands, (Bell, 1997) (Refer Appendix 3) Lipton Brand name: Lipton Elephant Brand Lipton Saveurs Du Soir Features: Both brands mentioned above are herbal teas and have different types of flavors ranging from mint to a wide range of fruit flavors. The price ranges from  £6.00 to  £7.00. Package: Each pack contains 25 sachets and is presented in their own unique color depending on each flavor. Foods International Brand name: La Tisanià ¨re Features: La Tisanià ¨re is also an herbal tea with various flavors such as Les Fruisanes range, which has a variety of fruit flavors, Trà ©sors de Nature range, which has a variety of flavors combining flowers and herbs and the Wellness range. (What about La Tisanià ¨re, n.d) Package: Different flavors are presented in different colors and packed in 25 sachet boxes. Ricola Brand name: Ricola Features: Ricola herbal tea is a popular hot beverage especially during the winter season and is commonly used as a remedy for colds and coughs, (Instant Teas, n.d.) Similar to other competitors, Ricola also offers a wide variety of flavors in their herbal tea range. Package: Ricola teas are generally packed in a plastic container ranging from 200g onwards and in presented in different colors according to the flavors. Comparison All competitors of Link Samahan fall under the herbal tea category. Therefore there is a relative advantage for Samahan as it will be marketed as an herbal beverage as well as a medical concoction used for common colds and similar ailments. Most competitor brands seem similar in appearance which makes it hard for the consumers to distinguish between them at a glance. However, Link Samahan will be presented in its own unique packaging so that it will be visible among rest of the products. The most significant difference between Link Samahan and other competitors is that the price of Link Samahan will be slightly higher due to the fact that it is more of a remedy to cure colds as well as a regular herbal beverage. The competitors price The following is a list of prices of the competitors available in the herbal beverages market. There is no significant difference between the prices of each brand. Competitors promotion and advertising methods The primary method of advertising used by Lipton is through newspaper advertisements. Lipton range consists of a wide range of brands. Thus, they advertise each brand separately rather than as a whole. Since most people have access to reading newspapers daily, they believe that it is the best way to capture the target market. La Tisanià ¨re on the other hand is mainly advertised through radio advertisements along with the Twininngs and Ovaltine, which are the other hot beverage products of their mother company Foods International. Ricolas main focus is on health magazines as they stress on health benefits of consuming Ricola herbal tea such as a cure for coughs and colds. However, Ricola products are also advertised through radio advertisements as well as newspapers through feature articles etc. Other main promotion methods used by these competitors are discounted prizes, special draws and competitions, sponsoring various events and coupon systems. Competitors distribution channels Lipton: Hypermarkets and supermarket chains Foods International: Supermarket chains and retail stores Ricola: Hypermarkets, supermarkets and retails stores MARKET SIZE Estimated industry sales for the planning year According to the research carried out in France, a rise in the industry sales is expected in 2010/2011 due to the regular consumption of herbal products among the consumers. The income level of the consumers may not affect them since herbal beverages are considered as an FMCG. Estimated sales for Link Samahan for the planning year The graph indicates the forecasted sales for Link Samahan for the year 2010 per city. According to the figures shown, approximately about 45,350 packets per city will to be sold and roughly about 3250 packets will be sold per month in average in the year 2010. Furthermore, Link Samahan is expected to detain the market share rapidly in the French market according to the number of estimated sales. All these details are further discussed in the preliminary marketing plan. GOVERNMENT PARTICIPATION IN THE MARKET PLACE Agencies that can help Link Natural The herbal beverages industry especially herbal tea industry is a rapidly growing market in France. Apart from being sold mainly in hypermarkets and supermarkets, herbal beverages are commonly used in health care centers, hospitals, holiday spas as well as hotels around the country. The usage of herbal beverages can be highly encouraged among the consumers through most of these agencies which will benefit the sellers in the trade. For instance, Link Samahan can be made available in popular health spas and hotels such as George V-Buddha Bar Spa, Ban Thai Spa, Bleu comme Bleu and Spa Anne Fontaine in Paris, (Spas Whats New,n.d.), and SPA de lhotel Boscolo Exedra Doctor, sauna le cercle Nice Saint Maurice and Nyrvana Madeleine Nice, in Nice (Saunas and Spas in Nice, 2009). It will also enable brand recognition through making the products available in recognized organizations to grab the attention of the target market. Regulations that must be followed It is vital that all companies follow the rules and regulations of the country to avoid complications. France belongs to the European Union and according to (Gauthier, 2005, pg.7), the European Commission has decided to draft a legislation on herbal medicinal products, dietetic foods, nutritional and functional claims, and fortified foods. Also according to (Gauthier, 2005, pg.7), the French Research Center on Nutrition and Food has a recommended allowance of a percentage of ingredients in the products to be consumed daily, and if the product doesnt meet those requirements, a special authorization from the French Public Superior Council for Hygiene (CSHPF) should be obtained by the manufacturer to market the product. Also according to French regulations it is important that all information such as product definition, list of ingredients, shelf life, weight and volume etc. are labeled in French on the packaging of the product. (Gauthier, 2005, pg.7) Apart from these, according to (France Trade Regulations and Standards, n.d.), quality and ecological labels, bar code price labeling, and usage instructions should also be mentioned. In general it is important that the product does not portray any offensive material that is not accepted socially, religiously, ethically etc. in France as it will not be accepted under the government regulations. MARKETING PLAN EXECUTIVE SUMMARY The following preliminary marketing plan was prepared by Link Natural (Pvt) Ltd to present a comprehensible idea on their business expansion of Link Samahan to France after conducting an ample research on the feasibility of the product in the French market. The main objective of this report is to guarantee that the product will be successful in the French market when competing among the alternatives available. The report portrays a detailed description mainly on the intended target market focusing on geographical, sociological, demographical etc. aspects, which are relevant to B2B and B2C markets. It gives an insight to the expected sales and the profit expectations for the year 2010. Furthermore, it explains the penetration strategies used by the company to gain market share of the consumers of herbal beverages in the market. It is imperative to analyze the product adaptation and modification by using factors such as core components, packaging, and support services etc. to grasp a clear interpretation of the product, which is described with sufficient details in the analysis. The report also focuses on to one of the major components in the marketing the mix, the promotions of the product carried out in France. The overall promotion objectives are explained followed by advertising, sales promotions, personal selling and other promotional tools used by the company to promote Link Samahan among the French consumers. Moreover, it explains the distribution components from origin to destination, which includes port selection, mode selection, packing, important documentations, insurance claims etc. as well as channel of distribution and more importantly the price determination of the product. Finally the terms of sales and method payment used by the company are explained followed by the budget and the financial statement of the entire business plan. Therefore as mentioned above, the crucial factors are highlighted in this report to ensure the success of Link Samahans establishment in the French market. THE MARKETING PLAN MARKET OBJECTIVES Target Market France has been ranked the 19th most populated country in the world, with a population estimate of 64,057,792, as stated in (France Demography, n.d.). It is therefore impractical to target the entire population of the country. The company has taken into consideration factors such as demography and geography when selecting the target market for Link Samahan. Demographically, the variables that were taken into consideration when selecting the target market were age, sex and income status. 65% of Frances population falls within the age group 15-64 years (Central Intelligence Agency, n.d.). Both males and females having a lower-middle to upper level income will be targeted since Link Samahan is an FMCG and is generally affordable to all the income groups mentioned above. Geographically, Paris, Marseilles and Nice are 3 of the most populated and metropolitan cities in France. Collectively in these 3 cities, the total population amounts to approximately 14.6 million (France People, 2006). Therefore, the primary business-to-consumer (B2C) target market for Link Samahan in France is: males females, from lower-middle to upper level income groups, between the ages of 15-64 who are primarily residing in the cities of Paris, Marseilles or Nice. There will also be a business-to-business (B2B) target market which would consist of the most visited retail stores, supermarket chains, hypermarkets and health holiday spas in the sele