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At this place students find the answer of their professional course syllabus. We have find lots of issues related to their exams in an easy language.

Professional Shiksha is for all Professional student. We are working on every aspect of theoritcal work of those student gradually and very soon they will get most out of their syllabus.

Wednesday, 3 April 2019

Hypothesis


 Introduction
A hypothesis is a specific statement of prediction. It describes in concrete (rather than theoretical) terms what you expect will happen in your study. Not all studies have hypotheses. Sometimes a study is designed to be exploratory (see inductive research). 
Hypothesis




  • It is prediction
  • It is a tentative statement.
  • The validity is not known.
  • Logical relationship between two variables.
  • Capable of being tested by scientific methods.
  • It must be used in generalization.
  • It should be clear.

 Let's say that someone predict that there will be a relationship between two variables in your study. The way we would formally set up the hypothesis test is to formulate two hypothesis statements, one that describes your prediction and one that describes all the other possible outcomes with respect to the hypothesized relationship. Your prediction is that variable A and variable B will be related (someone don't care whether it's a positive or negative relationship). Then the only other possible outcome would be that variable A and variable B are not related.

Types
Hypothesis is of basically two types
Alternate Hypothesis – Ha or H1
Null Hypothesis – H0
Usually, we call the hypothesis that you support prediction the alternative hypothesis, and we call the hypothesis that describes the remaining possible outcomes the null hypothesis.
You have to be careful here, though. In some studies, your prediction might very well be that there will be no difference or change. In this case, you are essentially trying to find support for the null hypothesis and you are opposed to the alternative.

The null hypothesis for this study is:
HO: As a result of the XYZ company employee training program, there will either be no significant difference in employee absenteeism or there will be a significant increase.
This is tested against the alternative hypothesis:
HA: As a result of the XYZ company employee training program, there will be a significant decrease in employee absenteeism.

In the figure on the left, we see this situation illustrated graphically. The alternative hypothesis -- your prediction that the program will decrease absenteeism -- is shown there. The null must account for the other two possible conditions: no difference or an increase in absenteeism. The figure shows a hypothetical distribution of absenteeism differences. We can see that the term "one-tailed" refers to the tail of the distribution on the outcome variable.
When your prediction does not specify a direction, we say you have a two-tailed hypothesis.

For Example: let's assume you are studying a new drug treatment for depression. The drug has gone through some initial animal trials, but has not yet been tested on humans. You believe (based on theory and the previous research) that the drug will have an effect, but you are not confident enough to hypothesize a direction and say the drug will reduce depression (after all, you've seen more than enough promising drug treatments come along that eventually were shown to have severe side effects that actually worsened symptoms). In this case, you might state the two hypotheses like this:
The null hypothesis for this study is:
HO: As a result of 300 mg. /day of the ABC drug, there will be no significant difference in depression.
 Which is tested against the alternative hypothesis?
HA: As a result of 300 mg. /day of the ABC drug, there will be a significant difference in depression.

Characteristics of hypothesis in Research Methodology
Characteristics of hypothesis: Hypothesis must possess the following characteristics:
1.       Hypothesis should be clear and precise. If the hypothesis is not clear and precise, the inferences drawn on its basis cannot be taken as reliable.
2.       Hypothesis should be capable of being tested.
3.       Hypothesis should state relationship between variables, if it happens to be a relational hypothesis.
4.       Hypothesis should be limited in scope and must be specific. A researcher must remember that narrower hypotheses are generally more testable and he should develop such hypothesis.
5.      Hypothesis must explain the facts that gave rise to the need for explanation.

Monday, 1 April 2019

Project Report Format






Sunday, 17 March 2019

Brand Loyalty


Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc. Brand loyalty is the extent to which a consumer constantly buys the same brand within a product category. The consumers remain loyal to a specific brand as long as it is available. They do not buy from other suppliers within the product category. Brand loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the brand loyal consumer will stick to his brand.

Brand loyal consumers are the foundation of an organization. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains new competitors in the market. Brand loyalty is a key component of brand equity.
Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement. Examples of brand loyalty can be seen in US where true Apple customers have the brand's logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly menu system used by Nokia phones.
Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality. As brand loyalty increases, customers will respond less to competitive moves and actions. Brand loyal customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always.

Brand identity and Brand image


Brand Identity
Brand identity stems from an organization, i.e., an organization is responsible for creating a distinguished product with unique characteristics. It is how an organization seeks to identify itself. It represents how an organization wants to be perceived in the market. An organization communicates its identity to the consumers through its branding and marketing strategies. A brand is unique due to its identity. Brand identity includes following elements - Brand vision, brand culture, positioning, personality, relationships, and presentations.

Brand identity is a bundle of mental and functional associations with the brand. Associations are not “reasons-to-buy” but provide familiarity and differentiation that’s not replicable getting it. These associations can include signature tune(for example - Britannia “ting-ting-ta-ding”), trademark colours (for example - Blue colour with Pepsi), logo (for example - Nike), tagline (for example - Apple’s tagline is “Think different”),etc.
Brand Image
Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional value and not just a mental image. Brand image is nothing but an organization’s character. 


Brand Identity
Brand Image
1
Brand identity develops from the source or the company.
Brand image is perceived by the receiver or the consumer.
2
Brand message is tied together in terms of brand identity.
Brand message is untied by the consumer in the form of brand image.
3
The general meaning of brand identity is “who you really are?”
The general meaning of brand image is “How market perceives you?”
4
It’s nature is that it is substance oriented or strategic.
It’s nature is that it is appearance oriented or tactical.
5
Brand identity symbolizes firms’ reality.
Brand image symbolizes perception of consumers
6
Brand identity represents “your desire”.
Brand image represents “others view”
7
It is enduring.
It is superficial.
8
Identity is looking ahead.
Image is looking back.
9
Identity is active.
Image is passive.
10
It signifies “where you want to be”.
It signifies “what you have got”.
11
It is total promise that a company makes to consumers.
It is total consumers’ perception about the brand.
Focus on shaping your brand identity, brand image will follow.

Brand Positioning


Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brand’s benefits/reasons to buy; and it focuses at all points of contact with the consumer.

Brand positioning must make sure that:
  • Is it unique / distinctive vs. competitors?
  • Is it significant and encouraging to the niche market?
  • Is it appropriate to all major geographic markets and businesses?
  • Is the proposition validated with unique, appropriate and original products?
  • Is it sustainable - can it be delivered constantly across all points of contact with the consumer?
  • Is it helpful for organization to achieve its financial goals?
  • Is it able to support and boost up the organization?
In order to create a distinctive place in the market, a niche market has to be carefully chosen and a differential advantage must be created in their mind. Brand positioning is a medium through which an organization can portray it’s customers what it wants to achieve for them and what it wants to mean to them. Brand positioning forms customer’s views and opinions.
Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customer’s mind. For instance-Kotak Mahindra positions itself in the customer’s mind as one entity- “Kotak ”- which can provide customized and one-stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay with the proposition of “Think Investments, Think Kotak”. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt.
Brand Positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors. For instance- Kingfisher stands for youth and excitement. It represents brand in full flight.
There are various positioning errors, such as-
  1. Under positioning- This is a scenario in which the customer’s have a blurred and unclear idea of the brand.
  2. Over positioning- This is a scenario in which the customers have too limited a awareness of the brand.
  3. Confused positioning- This is a scenario in which the customers have a confused opinion of the brand.
  4. Double Positioning- This is a scenario in which customers do not accept the claims of a brand.

Brand


Brand
Brands are different from products in a way that brands are “what the consumers buy”, while products are “what concern/companies make”. Brand is an accumulation of emotional and functional associations. Brand is a promise that the product will perform as per customer’s expectations. It shapes customer’s expectations about the product. Brands usually have a trademark which protects them from use by others. A brand gives particular information about the organization, good or service, differentiating it from others in marketplace. Brand carries an assurance about the characteristics that make the product or service unique. A strong brand is a means of making people aware of what the company represents and what are it’s offerings.

To a consumer, brand means and signifies:

  • Source of product
  • Delegating responsibility to the manufacturer of product
  • Lower risk
  • Less search cost
  • Quality symbol
  • Deal or pact with the product manufacturer
  • Symbolic device

Brands simplify consumers purchase decision. Over a period of time, consumers discover the brands which satisfy their need. If the consumers recognize a particular brand and have knowledge about it, they make quick purchase decision and save lot of time. Also, they save search costs for product. Consumers remain committed and loyal to a brand as long as they believe and have an implicit understanding that the brand will continue meeting their expectations and perform in the desired manner consistently. As long as the consumers get benefits and satisfaction from consumption of the product, they will more likely continue to buy that brand. Brands also play a crucial role in signifying certain product features to consumers.
To a seller, brand means and signifies:
  • Basis of competitive advantage
  • Way of bestowing products with unique associations
  • Way of identification to easy handling
  • Way of legal protection of products’ unique traits/features
  • Sign of quality to satisfied customer
  • Means of financial returns
A brand, in short, can be defined as a seller’s promise to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods/services of one seller or group of sellers from those of competitors. Some examples of well known brands are Mc Donald’s’, Mercedes-Benz, Sony, Coca Cola, Kingfisher, etc.
A brand connects the four crucial elements of an enterprise- customers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits which have occupied target market’s mind. Associations are nothing but the images and symbols associated with the brand or brand benefits, such as, The Nike Shoes, The Nokia sound, etc. Benefits are the basis for purchase decision.

Sunday, 24 February 2019

Management Decision Problem & Marketing Research Problem



Defining the problem is the most important step, because only when a problem has been clearly and accurately identified can a research project be conducted properly.
• Defining the marketing research problem sets the course of the entire project
Problem definition involves stating the general marketing research problem and identifying its specific components.
• Only when marketing research problem has been clearly defined can research be designed and conducted properly.
Inadequate problem definition is a leading cause of failure of marketing research project.
• Better communication and more involvement in problem definition are the most frequently mentioned ways of improving the usefulness of research.

Management Decision Problem
The management decision problem asks what the DM needs to do, whereas the marketing research problem ask what information is needed and how it can best be obtained.
Research can provide the necessary information to make a sound decision.
The management decision problem is action oriented.
It is concerned with the possible actions the DM could take.
• How should the loss of market share be arrested?
• Should the market be segmented differently?

Marketing Research Problem
The marketing research problem is information oriented. It wants to determine what information is needed to make the best decision.
• It involves determining what information is needed and how that information can be obtained effectively and efficiently.
• Whereas the management decision problem focuses on symptoms, the marketing research problem focuses on underlying causes.

Management decision
problem

Marketing research
problem

• Asks what the
decision maker needs
to do
• Action oriented
• Focuses on symptoms
• Asks what information
is needed and how it
should be obtained
• Information oriented
• Focuses on the
underlying causes


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