Tuesday, September 17, 2019
Jiang Zemin :: essays research papers
Allen Bullock                                                   HST 407                                                       7/24/2003                                                       Jiang Zemin, as the President of China, will be leading the world's most populous country into the 21st century. A new biography of Mr. Jiang describes him as an economic reformer but not a political reformer and as someone often mistakenly believed to have blundered his way to power. Bruce Gilley is the author of the first western full-length study of the Chinese leader. Historians, political scientists, and journalists hungry for reliable information about Chinese politics have to rely on official publications, and on the semiofficial and nonofficial accounts that bubble up in Hong Kong. These are the same methods of tracking and analyzing China's political movements that outsiders have used for decades. It is in this Byzantine context that Bruce Gilley has written Tiger on the Brink, a biography of Jiang Zemin and a highly readable account of modern Chinese politics. Unfortunately, Gilley is sharply limited by the same lack of access as every other student of Zhongnanhai. A correspondent for The Far Eastern Economic Review who covered China out of Hong Kong, Gilley has done an admirable job of scouring Chinese-language publications for tidbits about Jiang's personal background. But hamstrung by lack of information, this story of Jiang's decade at the top of China's Communist Party only partly satisfies. Tiger on the Brink is essentially a first-rate job. However, Gilley had to rely overwhelmingly on secondary sources; as he relates in the preface, the closest he ever got to his subject was when he ran into the portly president in the men's room at the Great Hall of the People. And Jiang left the restroom before a surprised Gilley could think of a question to ask. The big cat in the book's title apparently refers to China, not Jiang, for it is unlikely that anyone would ever mistake the genial and cautious leader portrayed by Gilley for such a ferocious creature. Gilley reinforces the assessment of Jiang as a politically slippery but tenacious survivor, less tiger than â€Å"Mr. Tiger Balm,†a moniker he once gave himself, which Gilley uses to head a chapter. Jiang Zemin emerges from this book as a skilled political tactician, who distinguished himself over nearly 50 years of Communist Party politics not as an intellectual or a fighter but by his ability to get along with superiors and inferiors alike, and by making use of an unsurpassed knack for currying favor with influential men.
Monday, September 16, 2019
American dream Essay
Exploration of the theme of the American Dream In a country where liberty, freedom and the land of opportunity is a pivotal part of American society the American dream is born. The American dream is fundamentally the notation that no matter your race, religion, sex or social class if you work hard in America you will achieve materialistic wealth. Steinbeck’s novel, Of Mice and Men sets in the 1930’s, the time of the great depression and depicts the flaws of the American Dream. Some of the themes in the novel include friendship, death, jealousy and loneliness. The exploration of this essay shall consist of me focussing on the theme of the American Dream by exploring the characters, George and Lennie, Candy and Crooks. Steinbeck also conveys the theme of the American Dream through the character of Candy- as the name implies Candy is a sweet character, the quote, ‘yeah, nice fella too’ demonstrates this as Candy is talking fairly about Crooks who is black and looked down upon in society of that time. Candy is an old character, ‘the old man put the yellow can in his pocket†¦ ‘ and this is illustrated by Steinbeck as one of the flaws of the American Dream which stops them achieve the A. D. and because everyone shall someday become old Steinbeck is implying that sometimes the American Dream is never achievable. Candy owns a dog which he has known for most of his life, ‘That’s a hell of an old dog; Yeah I had ‘im since he was a pup†¦ ‘ This dog of his is a very close possession and friend and it is implied that Candy has realised that he shall never achieve his American Dream but his dog is the closest he shall get to it so it is a part of his American Dream. However Candy’s dog was shot by Carlson due to it being old and smelly, ‘I don’t know anything that stinks so bad as an old dog†¦ he’s got no teeth†¦ why’n’t you shoot him Candy? ‘ The death of Candy’s dog symbolises the death of Candy’s Amercian Dream, however in more depth, the death of his dog illustrates that anyone (animal or human) who is old or smells or has no teeth (basically out of the ‘norm’) is not accepted into society and shall not be accepted and death could be a possible out come. Although Candy;s dog had no use to the people around and society, to Candy he meant a lot and the death of his meant a death of part of candy himself. Similarly, Lennie like the dog was not accepted in society due to the deed he had committed and due to his disability however, he meant something to George and they too like Candy an his dog were loyal friends but it was because of society that cause the death of both the dog and Lennie which cause the death of their American Dream. Through the character of Curley, Steinbeck shows the Amercian Dream in a different light. He illustrates that the American Dream is achievable through Curley as he has his own ranch, the trophy wife, the money and power. However, Steinbeck is also showing that only a few people achieve the American Dream as only one of the Characters achieves the American Dream out of 6. Although Curley has achieved the American Dream, Steinbeck clearly shows through the nature of Curley that those who are able and do achieve the American Dream are not always nice people, in fact from Curleys character, the audience feels that they are in fact horrible people. The way in which Curley treats other people makes him perceived as a very horrible person. The way in which Curley’s wife describes him, ‘I don’ like Curley. He ain’t a nice fella’ shows how little liked he is. Also, the way in which Curley’s wife is used as a possession of his shows the greed of power that Curley has. Also the way that Curley is perceived by George shows already within only a day of knowing Curley he is not liked as George refers to Curley as a ‘son of a bitch’ vAlso, the way in which Curley treats Lennie is appalling,’ â€Å"What the hell you laughin’ at? ‘Lennie looked blankly at him. â€Å"Huh? †Then Curley’s rage exploded. â€Å"Come on, ya big bastard. Get up on your feet. No big son-of-a-bitch is gonna laugh at me. I’ll show ya who’s yella. ‘ This shows the arrogance of Curley. The theme of the American Dream is finely woven through the entire novel and without a doubt this has been done very effectively . Steinbeck clearly conveys his message about the American Dream in much detail and has done in a very meaning full way.
Clarke Case Study
CSR 3/13/13 Going Green The company Clarke is a family company that has grown, since 1946, and is now the largest Mosquito Abatement firm out of all the districts in the US. They have been involved in the industry since 1927 when John Clark Sr. wrote the legislation that established the Mosquito Abatement District in the state of Illinois. The main goal was to produce a full, high-quality selection of products for the Mosquito Abatement Districts, taxpayer-funded municipal regions; individual administered, and state government entities.Starting out with their mission to provide pesticide applications, they have grown to turnkey mosquito management systems, which include necessary personnel, chemical, and public education equipment. This case involves the company Clarke and their efforts to go green, and focus on environmental CSR, which seems to be what most companies are trying to do now-a-days. Consumers see going green as a company who is producing goods that are not harmful to th e environment. It projects an overall better image for the company, which in return pleases environmentalists and helps to generate a better customer database a larger profit.It also gives companies a way to be innovative with their products and differentiate themselves from all of their competitors in the market, and promotes a global initiative to provide a better overall living environment for the consumers. Their overall goal was to be able to shift their industry and bring in a new business model that would be able to change the industry in a positive way and give them an upper hand on their competition. They followed four core values, which are: 1. Extend the Reach: Responding to the growing interest in environmentalism. . Innovate: Helping their company grow with new products. 3. Sustainability 4. One Clark: Creating a culture of shared aspirations. Over the course of time, Clarke’s new developed product called â€Å"Natular†, was redeveloped and made environmen t friendly for multiple aquatic habitats such as lakes, ponds, retention ponds, and potable water containers. The main issue that the company faces is that they are having difficulty adding this product because it would potentially alter the overall consumers that they have.And with the company trying to go green, this product does not really promote the â€Å"going green’ initiative, mainly because the fact of the matter is that this product is still a pesticide. It seems a bit contradicting to go green when you are producing pesticide products. Question: How does a company become a pesticide leader, demonstrating environmental responsibility in everything it does, in a way that is both profitable and credible to its customers, employees and other stakeholders?The question stated above is what the main issue that was discussed in their recent meeting, and how they could go about solving this issue without sabotaging their business as a whole and losing their current custome rs. I believe that the bottom line is that they can go green but by what methods can you use to begin the process being that they are the industry that they are. The type of industry that they are in are already making products that have been know to harm the environment, not by choice to harm the environment, but that’s typically what they do when consumers use them for the things that they are used for.In this case killing mosquitos. Which also in the long run can be very costly for the companies because there are specific regulations that they are to follow that are enforced by the Environmental Protection Agency, and they can also shut down any operations that Clarke has going on if the suspect that they are in fact not following the regulations that they are to abide by, and that could make it more difficult to create new products that could help them promote going green.With their four goals that I mentioned earlier, they should really have no problem with trying to imp lement new CSR strategies that would eventually make them more environment friendly. They just have to be sure that they abide by regulations and continue working to develop their products to be more environment friendly until they achieve their overall goal.
Sunday, September 15, 2019
Lessons from Enron: Bad Management, Negative Consequences
One of the classic examples of bad management, Enron's collapse according to the Economist (2002) was a result of bad management and poor decision-making of the auditing firm Andersen in handling the account of the company. The primary root of Enron’s collapse was bad management and the power of the management to delegate auditing and accounting responsibilities to a firm that they have chosen. The dependence of the auditing firm on the management in essence creates the break in the accounting and auditing ethics: in order not to lose an all-too important account such as Enron, they would need to abide by the decisions of the management.The lack of willpower of Andersen to question the unethical practices of Enron made it culpable in the same way as Enron’s managers. This led a domino and cascading effect in the corporate world of America: the government scrambling to look for other companies who are also hiding in their auditor’s books, the deterioration of the auditing and accounting profession, lack of trust in companies, and investor apprehension. The collapse of Enron was largely a decision by the top management which also involves its accountants to provide a bogus statement of finances to make Enron look like a profitable company.Auditors of Enron on the other hand, have sought to protect the company by shredding incriminating documents. From an agency theory perspective, the role of the Enron’s top management to that of the shareholders is one that is governed by the principle that managers will act in a way that will benefit the owners or shareholders of the company (Abrahamson and Park, 1994). In essence, what happened to Enron was that the managers or the agents gained too much power and the shareholders did not perform its function of overseeing the operations of their company.Fundamentally, what the shareholders and the managers who did not take part in the Enron scandal could have done was to have the government to appo int an auditing or accounting firm that will monitor the financial movement of the company. In this way, accountants and auditors will not be obliged to follow what the top managers would want them to do. Managers need to be wary of decisions made by the top management or their colleagues. To a significant extent, appointments should be made independent of the managers.In an era where auditing and accounting fraud are prevalent, managers can protect themselves by safeguarding their companies among their peers. References Abrahamson, E. and Park, C. (1994) Concealment of negative organizational outcomes: An agency theory perspective. Academy of Management Journal, 37: 1302-1334. Barefoot, JA. (2002). What can you learn from Enron? How to know if you are creating a climate of rule-breaking. ABA Banking Journal, 94. The Economist. (2002) The Lessons from Enron. 362, 8259: 9-10. Retrieved 1 July at http://www.csupomona. edu/~smemerson/PLS499%20Greed_Need/Enron. doc. Appendix 1. Enron Ar ticle Title: THE LESSONS FROM ENRON , Economist, 0013-0613, February 9, 2002, Vol. 362, Issue 8259 Database: Academic Search Elite Section: Leaders THE LESSONS FROM ENRON After the energy firm's collapse, the entire auditing regime needs radical change THE mess just keeps spreading. Two months after Enron filed for Chapter 11, the reverberations from the Texas-based energy-trading firm's bankruptcy might have been expected to fade; instead, they are growing.On Capitol Hill, politicians are engaged in an investigative orgy not seen since Whitewater, with the blame pinned variously on the company's managers, its directors, its auditors and its bankers, as well as on the Bush administration; indeed on anybody except the hundreds of congressmen who queued up to take campaign cash from Enron. The only missing ingredient in the scandal–so far–is sex. The effects are also touching Wall Street. In the past few weeks, investors have shifted their attention to other companies, m aking a frenzied search for any dodgy accounting that might reveal the next Enron.Canny traders have found a lucrative new strategy: sell a firm's stock short and then spread rumours about its accounts. Such companies as Tyco, PNC Financial Services, Invensys and even the biggest of the lot, General Electric, have all suffered. Last week Global Crossing, a telecoms firm, went bust amid claims of dubious accounts. This week shares in Elan, an Irish-based drug maker, were pummelled by worries over its accounting policies. All this might create the impression that corporate financial reports, the quality of company profits and the standard of auditing in America have suddenly and simultaneously deteriorated.Yet that would be wide of the mark: the deterioration has actually been apparent for many years. A growing body of evidence does indeed suggest that Enron was a peculiarly egregious case of bad management, misleading accounts, shoddy auditing and, quite probably, outright fraud. But the bigger lessons that Enron offers for accounting and corporate governance have long been familiar from previous scandals, in America and elsewhere. That makes it all the more urgent to respond now with the right reforms.Uncooking the books The place to start is auditing. Accurate company accounts are a keystone for any proper capital market, not least America's. Andersen, the firm that audited Enron's books from its inception in 1985 (it was also Global Crossing's auditor), has been suggesting that its failings are representative of the whole profession's. In fact, Andersen seems to have been unusually culpable over Enron: shredding of incriminating documents just ahead of the investigators is not yet a widespread habit.But it is also true that this is only the latest of a string of corporate scandals involving appalling audit failures, from Maxwell and Polly Peck in Britain, through Metallgesellschaft in Germany, to Cendant, Sunbeam and Waste Management in America. In the past four years alone, over 700 American companies have been forced to restate their accounts. At the heart of these audit failures lies a set of business relationships that are bedevilled by perverse incentives and conflicts of interest. In theory, a company's auditors are appointed independently by its shareholders, to whom they report.In practice, they are chosen by the company's bosses, to whom they all too often become beholden. Accounting firms frequently sell consulting services to their audit clients; external auditors may be hired to senior management positions or as internal auditors; it is far too easy to play on an individual audit partner's fear of losing a lucrative audit assignment. Against such a background, it is little wonder that the quality of the audit often suffers. What should be done? The most radical change would be to take responsibility for audits away from private accounting firms altogether and give it, lock, stock and barrel, to the government.Perhaps such a change may yet become necessary. But it would run risks in terms of the quality of auditors; and it is not always so obvious that a government agency would manage to escape the conflicts and mistakes to which private firms have so often fallen prey. As an intermediate step, however, a simpler suggestion is to take the job of choosing the auditors away from a company's bosses. Instead, a government agency–meaning, in America, the Securities and Exchange Commission (SEC)–would appoint the auditors, even if on the basis of a list recommended by the company, which would continue to pay the audit fee.Harvey Pitt, the new chairman of the Securities and Exchange Commission, is not yet willing to be anything like so radical. He has been widely attacked because, when he acted in the past as a lawyer for a number of accounting firms, he helped to fend off several reforms. Yet he now seems ready to make at least some of the other changes that the Enron scandal has shown to be ne cessary (see pages 67-70. ) Among these are much fiercer statutory regulation of the auditing profession, including disciplinary powers with real bite.Hitherto, auditors have managed to get away with the fiction of self-regulation, both through peer review and by toothless professional and oversight bodies that they themselves have dominated. There should also be a ban on accounting firms offering (often more profitable) consulting and other services to their audit clients. Another good idea is mandatory rotation, every four years or so, both of audit partners–so that individuals do not become too committed to their clients–and of audit firms. The most effective peer review happens when one firm comes in to look at a predecessor's books.The SEC should also ban the practice of companies' hiring managers and internal auditors from their external audit firms. In search of better standards Then there is the issue of accounting standards themselves. Enron's behaviour has co nfirmed that in some areas, notably the treatment of off-balance-sheet dodges, American accounting standards are too lax; while in others they are so prescriptive that they have lost sight of broader principles. Past attempts by the Financial Accounting Standards Board to improve standards have often been stymied by vociferous lobbying.It is time for the SEC itself to impose more rigorous standards, although that should often be through sound principles (including paying less attention to single numbers for earnings) rather than overly detailed rules. It would also be good to come up with internationally agreed standards. Although audit is the most pressing area for change, it is not the only one. The Enron fiasco has shown that all is not well with the governance of many big American companies. Over the years all sorts of checks and balances have been created to ensure that company bosses, who supposedly act as agents for shareholders, their principals, actually do so.Yet the cult of the all-powerful chief executive, armed with sackfuls of stock options, has too often pushed such checks aside. It is time for another effort to realign the system to function more in shareholders' interests. Companies need stronger non-executive directors, paid enough to devote proper attention to the job; genuinely independent audit and remuneration committees; more powerful internal auditors; and a separation of the jobs of chairman and chief executive.If corporate America cannot deliver better governance, as well as better audit, it will have only itself to blame when the public backlash proves both fierce and unpleasant. PHOTO (COLOR) ________________________________________ Copyright of The Economist is the property of Economist Newspaper Limited and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. Source: Eco nomist, 2/9/2002, Vol. 362 Issue 8259, p9, 2p, 1c. Item Number: 6056697
Saturday, September 14, 2019
The Street Lawyer
RUNNING HEAD: THE STREET LAWYER The Street Lawyer Social Work 3040-01I Apr. 30, 2008 SUMMARY John Grisham’s The Street Lawyer tells the story of Michael Brock a married wealthy attorney who has it all. Michael, a graduate of Yale University, works at Drake & Sweeny, one of the top and well respected firms in Washington D. C. While there he is making the money and rushing relentlessly to the top of Drake & Sweeny. He is only one step away from an early partnership. Until one rainy winter afternoon at Drake & Sweeny. An angry homeless man who only wants to be called â€Å"Mister†holds Michael and eight other lawyers hostage in an office at Drake & Sweeny. â€Å"Mister†demands the tax records be brought to him. After the tax records arrive he orders Michael to tell him what each lawyer including Michael has made in earnings for the year and how much of their money is donated to charities and the homeless. After several hours the hostage stand off is over leaving one man dead and another reborn. Mister†is shot in the head by a sniper policeman as he opens the office door to receive the soup he wants delivered from a local shelter. â€Å"Mister’s†blood and bodily fluids cover Michael’s entire face since he is standing directly behind him. The police escort Michael to a small gym in the building where doctors examine him and he is able to shower. After his shower Michael returns home. The next morning he returns to work at Drake & Sweeny. After reading an article in the Post he learns more about â€Å"Mister†whose real name is DeVon Hardy. After paying a visit to Mordecia Green the director of the 14th Street Legal Clinic, where â€Å"Mister†was a client, Michael begins to rethink his career as an anti-trust lawyer for Drake & Sweeny and his life as well. Leaving Drake & Sweeny to become a street lawyer would have profound affect on his home life and marriage as well. After telling his wife he will take a job with less money and no benefits the couple separate and eventually file for divorce. Michael moves to a smaller apartment on the rough side of Washington D. C. nd begins working at the 14th Street Legal Law Clinic with Mordeci Green. While working there Michael is harboring a dark secret: a confidential file. A confidential file from the law offices of Drake & Sweeny which contains information about the illegal eviction of â€Å"Misterâ€Å" and the other homeless people. Now Drake & Sweeny know their file is missing and want it returned immediately no matter what. Even if it means Michael losing his lic ense to practice law. His former partners have become his enemies and Michael is now the most dangerous man on the streets of Washington D. C. EXAMINATION Populations-at risk are the homeless in John Grisham’s The Street Lawyer and the environment that which they live in are considered the social environment. Populations-at risk are defined as populations or groups of people who share some identifiable characteristics that places them at greater risk of social and economic deprivation and oppression than the general mainstream of society. The social environment involves the conditions, circumstances, and human interactions that encompasses human beings. People are dependent upon effective interactions with their environment in order to survive and thrive. The social environment includes the actual physical setting that society provides. This involves the type of home a person lives in, the type of work that is done, the amount of money available, and the laws and social rules by which people live. â€Å"Mister†and the other homeless who were illegal evicted from their makeshift apartments are to considered members of a social environment. In reference to the social environment the actual physical setting that society provided to the homeless were homeless shelters. But once the homeless shelters do not begin to taken in borders because they are over crowded the homeless are forced into the streets in hopes of finding a safe and warm place to stay for the night. Sleeping on park benches and makeshift warehouses are the only means of shelter available to them. Even if they are working at a job the wages are usually not enough to provide adequate shelter. Society tends to blame the homeless for their choice of life and for being homeless. But at times it not the fault of the homeless but the fault of the government. For example a working middle class family loses their home to foreclosure because of lay-offs and budget cuts at their jobs. With being laid off both lose their pension and benefits that came along with their jobs. Even if both parents would find another job paying minimum wage it would not be enough to pay the $1000. 00 monthly mortgage and other expenses. Therefore, those individuals cannot be held at fault for becoming homeless the fault lies with the budget cuts made by the federal government to their jobs. At other times the fault lies with the individual themselves for becoming homeless. For example a woman works as a nurse in a hospital becomes addicted to prescription drugs and is later fired from her job because of stealing the prescription drugs to which is addicted to. Since the prescription drugs are no longer available to her she becomes addicted to crack/cocaine because it is accessible to her. She files for unemployment until she can find another job but her unemployment checks are going to support her habit instead of paying her monthly rent. She is evicted and thrown into the streets where and begins prostitution to support her habit. Receiving a â€Å"fix†has become her main priority in life. In that particular situation the individual is the blame for their choice to become homeless. ELUDICATION John Grisham’s characters Michael Brock and Mordecia Green worked not only as attorneys for the homeless but also as social workers too. Throughout The Street Lawyer Michael and Mordecia counseled each individual to gain a knowledge of what their lives were before they became homeless and why they have become homeless. Most lawyers would not take the time find out if whether or not their client had a place to sleep or food to eat the night before. Many lawyers would not offer their services free of charge. Michael and Mordecia worked as lawyers as well as social workers. Each day Michael and Mordecia traveled to a local homeless shelter to interview potential clients and help them with whatever they needed. Most of their clients were generally homeless people or individuals who were laid off from their job recently. The two helped these individuals fill out government forms, obtain job applications, and sometimes a rehab center for those who were addicted to drugs and alcohol. At times some clients could not be helped but Michael and Mordecia provided their counseling service as a means of help. Some individuals only needed some to talk to about what was going on in their life at that time. He wants his readers to see the similarities between social workers and attorneys. His examples with Michael and Mordecia with their clients express key elements in the career of a social worker. EVALUATION/CONCLUSION The Street Lawyer by John Grisham conveys its readers to the unknown world of homelessness and the cause. He wants his readers to see the cruel dark side of humanity and how society views homelessness. By having the story take place in Washington D. C. , the capitol of the United States, a place where many would not believe crack houses are a block away from the White House. Homeless women, men, and children are forced to seek shelter anywhere when all the shelters in the city are full. These same people are usually victims of layoffs and budget cuts by Congress. Grisham wants his readers to see the reality of homelessness and that it can happen to anyone. One’s whole perspective on their life can change in an instance because of one individual or many. He gives thorough examples throughout his book about the day and life of a homeless person and their family. The struggles they face day to day not knowing if he or she will have something to eat or a place to sleep by night fall. He contributes to the study of social work by having his main characters act as counselors to the homeless, employment agencies and location of rehabs for those who are addicted to drugs and alcohol. The Street Lawyer is a learning tool in the world of social work for those who want to gain a better understanding of what a social worker does on a daily bases. One who enjoys helping others and making a difference in someone else’s life will definitely enjoy reading this book. After reading this book I now have a better understanding of homelessness and I will eventually use this book as learning tool while furthering my education in the study of social work. â€Å"
Friday, September 13, 2019
International Marketing in a Global Economy Research Paper
International Marketing in a Global Economy - Research Paper Example This is because common marketing concerns (such as input or production costs, price, advertising and distribution) are likely to differ from country to country where the business firm targets to market its products or services. There are four ways to develop markets in foreign land according to the Encyclopedia of Business and these are: (1) international trade through exporting products and services from the country of origin; (2) entering into joint venture arrangements with one or more foreign companies; (3) licensing patent rights, trademark rights, etc. to companies abroad; and (4) establishing manufacturing plants in foreign countries. Exporting is the easiest and most frequently used strategy of entering international markets because there is lesser risk of financial losses for the company. International trade comes in when a business entity engage in the buying (importing) and or selling (exporting) of goods or services in the global market arena. In exporting, factors to consider are: market opportunities, foreign exchange risk, import and export financing, and challenges of doing business in a foreign market. Business analysts note that in exporting, firms should focus on at least single market i nitially, start entering foreign market on a small scale (to limit potential loss due to failure), and be realistic about time, commitment and resources needed. Two contrasting viewpoint for developing global marketing strategy are being expounded by many business analysts. First is the localized marketing strategy that considers four differences across countries: buyer behavior characteristics, socioeconomic condition, marketing infrastructure, and competitive environment. Many companies failed to succeed or experience difficulties in the international market because they did not fully understand differences in buyer behavior knowing that
Thursday, September 12, 2019
Retail Branding Essay Example | Topics and Well Written Essays - 1500 words
Retail Branding - Essay Example The current interest in retail branding is scarcely to be wondered at, given that, as Ailawadi and Keller acknowledged, ‘’With the growing realization that brands are one of a firm’s most intangible assets, branding has emerged as a top management priority in the last decade’ (p.1). If one looks at a breakdown of the revenue of a major retailer, one will usually find that a large proportion of that revenue comes from the sale of manufacturer’s goods. However, this poses problems for retailers given the incredibly competitive nature of the marketplace – many stores might stock exactly the same goods, and quite probably at similar prices. They thus have to focus on developing marketing strategies which will encourage consumers, when faced with a choice of stores, all of which sell what they want, to choose one over another. As Ailawadi and Keller note, ‘building their [retailers] own equity is a particularly challenging problem, but one wi th big potential rewards. Such equity insulates them from competing retailers’ (p.1). The definition of retail branding offered by the Canadian Marketing Blog supports this, stating that it ‘is about differentiating, a unique personality, a true point of difference’. ... n incredibly wide range of factors, from the assortment of goods on offer in the store, to the level of customer service and comfort they experienced while shopping there, to their pricing and credit policies, and of course the quality of the goods sold. This stands in contrast to a consumer’s opinion of a product brand, which is more likely to have been constructed mostly from their opinions on that product’s marketing campaigns, and any experiences they’ve had of that brand’s goods. Identifying the manifold elements that strongly influence the construction and perception of a retailers’ brand image, we might conclude that the general atmosphere in the store, the prices and presence or absence of attractive promotions or reductions, and the range of products are perhaps the most important. One might think that price is always the most important factor in decisions made by consumers, but Brown highlighted long ago that price perception is more impor tant that actual prices. In short, if a retailer intends to market its brand based principally on its price, Brown found that for consumers, what was important was that they believed a store’s prices to be low, rather than whether they actually were. Therefore, a retailer has to work on getting all of these elements right in order to create the best possible experience for consumers frequenting their stores, in order to build up networks of loyalty and patronage among consumers. The key is winning over large numbers of consumers who believe that a particular retailer offers a superior shopping experience, and will recommend that retailer to their friend and family networks, as well a visiting it again themselves. Of course, manufacturer brands, as Ailawadi and Keller acknowledge, can be useful in creating a
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