What is love Research Paper Example | Topics and Well Written Essays - 1000 words

What is love - Research Paper Example It leaves a man puzzled and act totally beguiling. Men are the happiest when they are in love and women are in ecstasy when they are in love. Considering from a scientific point of view, we know these natural instincts are necessary for reproduction and survival of any species on the earth. Psychology states love is intimacy, commitment and passion (Whorts, 2010). Every man and women starts feeling a high rush of adrenaline when they see someone attractive. This feeling is at its height during the natural reproductive years. It subsides gradually in the middle age. Leaving alone the conjugal love, we also have motherly love, sibling love, patriotism, love for puppy, mobile phone, BMW car and many more. Some of these can be termed under likes instead of love. Some of these are unconditional and some of these are totally obnoxious. We mean the word obnoxious in the exact sense. Prior to writing the essay a documentary was shown on Discovery channel named â€Å"Half Ton Son† featuring Billy Robbins a 16 year old overly fat boy. His mother delivered him after losing the first child. She showed all her â€Å"Love† in feeding him excessively, making him the fattest teenage boy in the world. Love can sometimes turn horrible when it exceeds the limit. Wars have been fought on the name of love. Starting from the Helen of Troy to Cleopatra and the latest Monica Lewinsky, men have fought for their lust and greed in the name of love using the women concerned as shield. Agamemnon definitely did not care much about Menelaus or his abducted wife Helen when he invented Troy. But, Paris and Helen’s love was blamed for the destruction of Troy. Everybody knows Blaise Pascal’s famous quote â€Å"Cleopatras nose had been shorter, the whole face of the earth would have changed† (Liveley, 2002). Nobody mentions Caesar’s lustful ambition and her survival war against his mightiness. The mainstream media screamed about former President Bill Clinton

The Effects of Social Networking on Our Society Essay Example for Free

The Effects of Social Networking on Our Society Essay The use of electronic and social media has become a staple in our society. No matter where one travels one can have access to this great resource. But has this accessibility and dependence upon electronic and social media gone too far? Is this passion for instant gratification affecting our ability to communicate with those around us on a personal level? Another question to ask is whether or not this constant access to technology will help our children develop the necessary skills to succeed in life; whether through multitasking or being able to adapt to new situations. There have been many studies that argue both sides of this issue. Some say these new technologies will improve the quality of life for our children and others argue that instead of helping, it will hinder their ability to effectively communicate. The impact of the internet and social media has permanently altered the lives of all who participate in its web. Kevin Cain’s article, â€Å"The Negative Effects of Facebook on Communication† argues that Facebook is completely changing how we communicate with one other. He says it is creating a society that values, â€Å"†¦frequent communication more than meaningful communication,† (Cain). He believes this has caused us to have shrinking attention spans and has made us want to share more personal information that we normally would not be comfortable sharing with others. â€Å"[We] overshare a variety of information that was once unthinkable for public consumption,† (Cain). On the other hand, Lori Takeuchi’s more researched article, â€Å"How Tweens Use Digital Media to Develop Their Identities† is not quite sure what kind of consequences our overexposure to the internet will have. She believes it can have both positive and negative effects based on a child’s exposure to the internet and the parental involvement surrounding its use. Takeuchi writes, â€Å"†¦reading Club Penguin’s newspaper, for example, can help foster children’s reading comprehension skill and negotiate, collaborate, and evaluate,† (Takeuchi). Even though Takeuchi believes these can be important aids to our children’s learning curve, she does not think that it should completely replace the non-technological part of our lives. She states, â€Å"Rather than replacing or eliminating activities, digital media represent an additional layer of their everyday lives,† (Takeuchi). Takeuchi is very clear in stating family and outdoor activities are still very important and necessary. Although it is clear that electronic and social media is having a powerful impact on our society, it still is not entirely clear whether this influence is for the betterment of the society as a whole. It is however, unquestionable that the internet has changed our lives forever. Although the long term effect of electronic and social me dia has not been thoroughly vetted, it seems as if the misuse of this resource can leave us with undesirable results. Electronic and social media has positive functionality in our everyday life. It can enable a person to research a wide range of topics including, searching medical diagnoses or treatments on sites like WebMD for injuries or illnesses, collecting material for school projects, or it can reconnect you with old friends through Facebook and Twitter. Although communication through Facebook and Twitter can be entertaining and fun, it consumes untold hours each month. Surprising, most users are unaware of this fact. A study in August of 2011 showed that Facebook usage alone accounted for nearly eight hours of online time per person. Twitter did not register quite as high on the scale of online time usage, but it is believed to be because Twitter, like most other websites, does not track the time spent using mobile phones. So, â€Å"these numbers only track visits to Twitter.com, and do not take into account mobile usage,† (Konrardy). That means that the total time spent on these websites is actually much higher. If one takes into account how much time one observes people on cell phones checking their social media, the total time wasted on these sites would be much higher. Not only are people spending an exorbitant amount of time on social networking sites, they are also developing a tendency to be more comfortable having serious conversations through social media or some other form of non-personal communication. This is especially prevalent amongst children ages thirteen to eighteen, â€Å"young Facebook users are relying less on interpersonal communication skills and more on technology to communicate for them,† (Konrardy). This can be a huge detriment to their development of interpersonal skills. If children do not learn how to communicate effectively at a young age, it can hinder them in the future whether in job interviews or when dealing with personal conflict in relationships. Communication is necessary to live peaceably in our society. If children are taught that Facebook and other social networking sites are acceptable forms of serious conversation, they will be less likely to succeed in their personal and public lives. Susan Tardanico said in an article that, â€Å"†¦these generations – which will comprise more than 50% of the workforce by 2020 – would prefer to use instant messaging or other social media than stop by an office and talk with someone,† (Tardanico 1). This change in communication styles has made it difficult for employers to build trust and employee loyalty which then, in turn, can negatively impact productivity. Cell phones and social networking sites cannot offer true communication because â€Å"A whopping 93% [of communication] is based on nonverbal body language,† (Tardanico 1). This makes it extremely difficult for an individual to discern what another person might be meaning through words alone. In October of 2011 Sharon Seline was texting her daughter, who was off at college, asking how her life was going at school. Her daughter continually responded with positive responses, smiley faces, and hearts. This made Seline believe her daughter was quite happy and having a wonderful time at college. In reality, she never left her dorm room and showed tales tell signs of depression, a fact that did not come across in her texts and social networking posts. Later in the same night while she was ‘talking’ with her mother, she tried to commit suicide. Because the daughter’s non-verbal communication was absent from their conversations, her mother was unable to decipher the seriousness of the situation. She had to take her daughter’s written word as fact because she was, unable to â€Å"hear [her] tone of voice or look into [her] eyes†¦ [and] know when â€Å"I’m fine† doesn’t mean [she’s] fine at all†¦Ã¢â‚¬  (Tardanico 1). If Seline would have been able to see her daughter’s body language, she would have easily recognized, through non-verbal communication that she was not okay and needed help. In this case, face-to-face communication might have been able to keep a young lady from attempting suicide. There is also a direct correlation between the usage of Facebook and other social media sites to a person’s shyness. A study showed that those who have a tendency to be shy, generally have less ‘friends’ but spend more time on these sites. â€Å"†¦although shy individuals do not have as many contacts on their Facebook profiles, they still regard this tool as an appealing method of communication and spend more time on Facebook than do nonshy individuals,† (Liebert 339). Although it may be appealing to those who have a hard time meeting others, what it really does is immobilize them from entering into meaning relationships with others. It reinforces their shyness and perpetuates their lack of social ability in the ‘real’ world. They use it as a means of communication, so they do not have to go out into the world to overcome their shyness. It is easy to see that this study’s, â€Å"†¦findings might be explained by the anonymity afforded by online communication, specifically, the removal of many of the verbal and nonverbal cues associated with face-to-face interactions,† (Liebert 339). Again, this ability to hide in an online community does nothing to help an individual overcome their shyness. In fact this behavior hurts them by creating a false connection and an altered reality by inhibiting them from actual interpersonal relationships’. Without practice, a shy individual will have limited exposure to verbal and nonverbal cues that could in turn negatively impact them in job interviews or other â€Å"real† life situations. Unadulterated social networking has also been observed to negatively impact college student’s grades. Megan Puglisi says that, â€Å"According to Northern Michigan University, college students who used Facebook while studying, even just having it in the background, earned grades 20 percent lower on average than non-users in 2010,† (Puglisi). The impact of lower grades in college could adversely affect ones future life and well-being. For example, if a student can achieve a 20 percent improvement in their GPA simply by removing the constant interruption of social media sites from their environment, this could result in not only better grades, but scholarship opportunities. This in turn could improve that student’s financial burden. If, however, ones grades drop by 20 percent, because of the constant interruption from social media sites, at the extreme end of the spectrum, one could get kicked out of college which would hinder one’s ability to acquire future employment. So sacrificing a little time on Facebook could greatly affect ones present and future life. Puglisi also found that college students’ tendencies to use social media reduced their relationship with their professors. In her article, she quoted Dr. Kelley Crowley, a professor who â€Å"teaches public relations writing and principles of advertising at West Virginia University,† (Puglisi). According to Crowley, students should be pursuing real relationships. She believes that, â€Å"‘Avoiding personal interactions harms the competency of young professionals (Its difficult for students) to speak to respected professionals during interviews because they lack the necessary nonverbal behaviors, like eye contact,’† (Puglisi). Again, this directly relates to how social media can adversely affect college age students when applying to the work force. By not developing proper communication skills necessary for success, these students are affecting their life in a negative way. Puglisi is also a strong advocate for writing correctly on social networking sites. She believes making poor grammatical mistakes can make one look bad. She believes if one proof reads what one says before one posts it, one can â€Å"prevent looking like a fool in front of professors, friends and future colleagues,† (Puglisi). Employers now search out a person’s social media site to see what type of individual they really are. If one used poor grammar and made careless mistakes, the company would be much less likely to hire them. The many articles and researched opinions on this matter coincide with everyday observable behaviors. On any given day, one can walk down the street and see someone on their phone, texting, on Facebook, or looking at different internet sites. People are simply occupied with their electronic devices rather than with the world around them. This lack of interaction with the outside world can cause chronic electronic users to make stupid and sometimes irreparable mistakes. The other day my friend was riding his bike to class. A girl distracted while looking at her phone, walked out in front of him. He had to swerve out of the way so he would not hit her. He ended up crashing his bike, and spraining his ankle; a relatively small injury compared to what could have happened. In this instance, if the girl would not have been checking her phone, she would not have stepped out in front of him, and he would not have been injured. Another more personal incident occurred while I was driving my parent’s car. I only had my permit and my brother and I were heading to my swim practice when I w ent to turn left at a green light. A young lady was texting on her cell phone and went through her red light and nearly hit us. That young lady was tremendously lucky because had she hit us, I would have, in all likely hood, been killed. Two seconds separated me from life and death. This distraction of electronic media can sometimes have very tragic results. In 2012, a Philadelphia man was walking while using his cell phone. Because he was distracted, he fell onto a set of train tracks. Luckily, no train was coming and he was able to recover and get himself out before being crushed. In this case, distracted walking almost cost a man his life. More and more reports of injuries due to distracted walkers are being reported. A study showed that, â€Å"[All]though overall traffic deaths were lower in 2012 than the year before, pedestrian fatalities rose by 4.2 percent and injuries by 19 percent,† (Lowy). This shows a direct correlation between the use of social media and pedestrian deaths. This is no surprise to researchers, â€Å"‘I see students as soon as they break from a class, they have their cellphones out and theyre texting to one another. Theyre walking through the door and bumping into one another, said Jack Nasar, an Ohio State University professor and expert on environmental psychology,† (Lowy). This distraction can easily turn into something much bigger and cause serious injuries. â€Å"A study Nasar conducted at intersections on campus found that people talking on cellphones were significantly more likely to walk in front of cars than pedestrians not using phones†¦ reports of injuries to distracted walkers treated at hospital emergency rooms have more than quadrupled in the past seven years† (Lowry). These studies and reports show how social media and networking sites can greatly harm an individual when undivided attention is not given to the task at hand. Social media has also completely changed the way we read and process information. Nicholas Carr in is article, â€Å"Is Google Making Us Stupid† talks about how the internet has made it more difficult for people to stay focused. â€Å"The more they use the Web, the more they have to fight to stay focused on long pieces of writing,† (Carr). This can greatly affect your studying and work ability. By having this inability to be focused, you may have trouble gathering information you may need for a class or work project. This can negatively affect your performance and cause you to do poorer than you originally would. Carr also states that, â€Å"Our ability to interpret text, to make the rich mental connections that form when we read deeply and without distraction, remains largely disengaged.† (Carr). Again, this inability to make connections and interpret the written text can make us less marketable, which in turn damages our quality of life. Carr, when researching his article, came across a five-year long research program. The scientists studied the behaviors of visitors to two different research sites, both offering any different forms of written information. In the study, â€Å"They found that people using the sites exhibited â€Å"a form of skimming activity,† hopping from one source to another†¦ They typically read no more than one or two pages of an article or book before they would â€Å"bounce† out to another site,† (Carr). This type of skimming and non-ability to analyze written word has become a great drawback of social media. Social media and networking sites have had a great impact on our society. It has given us the ability to access any information we want, whenever we want. But this gift has taken us to a level we could never have imagined , and it has not always been in a good way. Through continually having access to social media, we have created many dangerous side effects. By not being able to read one’s body language, we can have a difficult time discerning what they really mean. By hiding behind a computer screen, we can lose many of the abilities to communicate effectively. By constantly having our faces glued to our cell phones, we can cause bodily harm to ourselves and to others. All of these negative ramifications can greatly hinder our capacity to find a decent job, do well in school, and communicate in an effective manner. If people do not become conscience of our misuse of this great resource, we may see even worse side effects than we have already encountered. Works Cited Cane, Kevin. The Negative Effects of Facebook on Communication. Social Media Today RSS. Social Media Today, 29 June 2012. Web. 4 Nov. 2012. . Carr, Nicholas. â€Å"Is Google Making Us Stupid?† The Atlantic July-Aug. 2008. Web, 16 Nov. 2012. http://www.theatlantic.com/magazine/archive/2008/07/is-google-making-us-stupid/306868/. Konrardy, Nate. Face-to-Facebook Communication. The Northern Iowan. The Northern Iowan, 3 Oct. 2011. Web. 17 Nov. 2012. . Lowry, Joan. Distracted Walking: Smartphone-wielding Pedestrians Stumble into Danger. The Christian Science Monitor, 30 July 2012. Web. 13 Nov. 2012. Orr, Robert R. et al. The Influence Of Shyness On The Use Of Facebook In An Undergraduate Sample. Cyberpsychology Behavior 12.3 (2009): 337-340. Puglisi, Megan. Social Networking Hurts the Communication Skills of College Students. The Daily Athenaeum. The DA Online, 13 Oct. 2010. Web. 13 Nov. 2012. . Takeuchi, Lori. MindShift. MindShift RSS. Mind Shift, 29 Feb. 2012. Web. 4 Nov. 2012. .

Humorous Wedding Speech by Brother of Groom -- Wedding Toasts Roasts S

Humorous Wedding Speech by Brother of Groom Good evening, ladies and gentlemen. On behalf of the bridesmaids, I must thank Donald for his kind words. I must also thank all of you for coming today - I know how hard it is to get a day release. As Donald’s lighter brother – sorry, I meant little brother, which is simply a reference to the fact that he is older than I am, and nothing else – I would also like to welcome Liz into the family. I think you’ll find the Endeans to be a warm and open family - but never play cards with any of us. Historically, June is the traditional month to marry, and these origins actually date back to medieval times when people only properly bathed once a year, typically during May when the weather improved. It’s true. June therefore became a popular marriage time, mainly because that's when people smelled their best. And if you know Donald at all, you’ll believe why June is a good month for him to marry as well. And if you don’t know him, just take it from someone who shared a bunk bed with him for 4 years. As Donald’s younger brother, it’s wonderful for me to be doing this job today. And, in being asked by Donald to be best man, I think it’s an admission from him that I am the best person and therefore the best son. So, in my role as best son, I’d like to inform my mother and father that it was not me who drove your car into the side of the house. It was not me who broke th... ...ternoon - that’s for Liz later on this evening. Donald, you are an extremely lucky man to have met Liz, and I’m slightly dumbfounded as to how you persuaded her to agree to marry you. But I’m delighted that you did. And Liz, it is a wonderful pleasure to welcome you to our family today. And whilst I continue on this uncharacteristically sincere note, I'd like to express my heartfelt congratulations to you both, and to thank you for choosing me as best man. You may well now regret it, but of course – it’s too late. Ladies and gentlemen, it gives me great pleasure to invite you all to stand and raise your glasses in a toast to my brother, Donald, and his new wife, Liz – to the new Mr and Mrs Endean.

Alcoholism among Victorians Essay -- Victorian Era

Alcoholism among Victorians Wrayburn: â€Å"It will be necessary, I think, to wind up Mr. Dolls, before anything to any mortal purpose can be got out of him. Brandy, Mr. Dolls, or - ?† Mr. Dolls: â€Å"Threepenn’orth Rum.† --Our Mutual Friend by Charles Dickens Throughout Victorian society â€Å"gin was the preferred spirit of the lower class, while wine and brandy were imbibed by the more comfortable citizenry† (Alcoholic Beverages 12). During the nineteenth century, the Victorians had high expectations of their class system to make sure the classes were distinct and properly represented. They â€Å"valued controlled, propitious behavior† and would tolerate nothing less (Harding Victorians and Alcohol). There was a â€Å"cultural value placed on teetotaling,† total abstinence from alcoholic drinks, but despite this value â€Å"alcohol consumption became a popular pastime† (Harding Victorians and Alcohol). Behavior such as drunkenness was strongly disapproved of because of its association with the lower class. Alcoholism: Representation of the Working Class It was widely known that â€Å"drunkenness, and the related loss of self-control, was associated with the lower classes† and therefore had negative connotations (Harding Victorians and Alcohol). Spirits, a popular hard liquor, â€Å"had become the everyday drink for less wealthy people† and â€Å"laborers commonly used spirits to flee from their desolate everyday lives† (Harding Victorians and Alcohol). The awful working and living conditions of the working class contributed to their â€Å"hard, controlled, and monotonous life, [leading] to excessive drinking of hard liquor† (Harding Victorians and Alcohol). This excessive drinking would sometimes result in public intoxication which was â€Å"regarded as anti-s... ...ss, Inc. 1996. 12. Distad, Merrill N. â€Å"Food and Diet.† Victorian Britain: An Encyclopedia. New York: Garland Publishing, Inc. 1988. 304-307. Garwood, John. â€Å"Religious and moral Character of the Pensioners, and Provisions made for their Instruction.† Social Investigation/Journalism – The Million-Peopled City. (1853): 94-96. 11 Mar. 2005 Harding, Stephen. â€Å"Alcohol.† Victorians’ Secrets. â€Å"Absinthe and Victorians.† Victorians’ Secrets. 2000. University of Texas at Arlington. 24 Feb. 2005. Kent, Christopher A. â€Å"Drink.† Twentieth-Century Britain: An Encyclopedia. New York: Garland Publishing, Inc., 1995. 239-240. Murdock, Catherine Gilbert. Domesticating Drink: Women, Men, and Alcohol in America, 1870-1940 . Baltimore, MD: Johns Hopkins University Press, 1998.

Tv Advertising vs Online Advertising

COVENTRY UNIVERSITY DISSERTATION TELEVISION VS ONLINE ADVERTISING: THE CONSUMER PERSPECTIVE PREPARED BY: AMBIKA KHANNA STUDENT ID: 3500576 MA MARKETING & ADVERTISING 1/12/2012 ABSTRACT THIS DOCUMENT STUDIES THE CONSUMERS PREFRENCE OF TELEVISION AND INTERNET AS ADVERTISING MEDIA. IT THROUGH QUALITATIVE AND QUANTITATIVE METHODS OF RESEARCH TRIES GAIN INSIGHTS INTO THE CONSUMERS PERCEPTION OF CURRENT TRENDS IN TELEVISION 7 INTERNET ADVERTISING. THESTUDY USES GROUNDED THEORY AND PRIMARY RESEARCH TO ESTABLISH THE POSSIBLE REASONS FOR PREFERENCE OF ONE ADVERTISING MEDIAOVER ANOTHER.THE STUDY CONCLUDES THAT TELEVISION IS STILL THE MORE POPULAR MEDIA WITH THE CONSUMERS AS IT IS CONSIDERED TO BE MORE ENTERTAINING WHEREAS INTERNET AS A MEDIUM IS HIGHLY RELIED ON WHEN IT COMES TO INFORMATION AND INSTANT ACESS TO PRODUCTS AND OFFERS. 1 3500576 DISSERTATION-MA ADVERTISING &MARKETING TABLE OF CONTENTS CHAPTER PAGE NO. ABSTARCT 1 ACKNOWLEDGEMENT 3 INTRODUCTION 5 LITERATURE REVIEW 8 PROPOSITIONS TO BE STUDIED 26 METHODOLOGY 27 DATA ANALYSIS 37 DICUSSION 51 CONCLUSION 52 SCOPE FOR FURTHER RESEARCH 53 REFERENCES 53 APPENDIX 58 2 3500576DISSERTATION-MA ADVERTISING &MARKETING ACKNOWLEDGEMENT I would like to express my heartfelt gratitude to my supervisor and my guiding light during the course of this research project Miss Sarah Hydes, who was there with me at every step guiding me and helping me with any hurdles that I faced while conducting the research. Her constructive criticism were taken into account and helped create a more accurate report. I would like to thank my family & friends who were there for me selflessly. Most of all I would like to thank God for his grace and kindness. 3500576 DISSERTATION-MA ADVERTISING &MARKETING 1. INTRODUCTION 1. 1 BACKGROUND Advertising has long been a part of most integrated marketing communication plans, most advertisers have concentrated on television media, having the highest reach. But with the onset of the recession the focus of adverti sers has shifted from tr aditional media to online media (Kirchhoff, 2009). According to Waterman et al (2009) â€Å"Internet advertising remains small, but is growing even more quickly than multichannel television advertising. With the wide reach and easy access to the internet as a media and the various paid product reviews available on the internet (Kirchoff,2009), it has become important for advertisers to understand what drives the consumer to pay attention to one media more than the other, and the factors which affect recall. Is it just based on needs or does the trust generated by an advertisement affect consumer perception of the product or the brand? Advertising today is based on what the consumer needs, the advertisers then make an effort to convert the need into a „want? y the means of an advertisement which allows them to retain the consumer and generate a certain level of recall and brand value. The advertisers do this by trying to understand the consumer? s need s and their goals. They make the consumers feel they can achieve their goals by using the product by portraying the product in such a way which is reflective of the target consumer? s perception of desired self (Schiffman and Kanuk, 2007, pg 87). The fact that consumers have a choice, even in terms of the advertising they want to be exposed to, has to be taken seriously by researchers.Therefore the medium which is used to reach to the audience and its effectiveness in terms of the trust of the consumer in the medium and the recall it generates is of immense importance (Schiffman and Kanuk, 2007, pg 13). Ducoffe (1996) suggests that most exposures to advertisements are made when the consumer is not actually shopping for the products, thus they are a waste. Therefore the advertisers now focus on the interactive element of advertising which gives them the scope to get the consumer to revert back to the company and 4 3500576 DISSERTATION-MA ADVERTISING &MARKETING uild a long term relati onship with them. With the growth of internet advertising the advertisers have more opportunities to reach out to the consumers and get them involved (Evans, 2009). This study is aimed at consumers who are well exposed to the television and internet as advertising media. This study has been undertaken to understand the factors which motivate people to pay attention to the various types of advertisement in a particular media. The study looks to understand the consumer? s take on which media works for them better in terms of recall and trust.Wang et al (2002) suggest that it is important to understand that the consumer is not passive and evaluates their need satisfaction before purchasing a product, thus advertising needs to ensure that it should not only be able to gain the consumers attention but also gain their trust in order to convert the curiosity about a product or service into a successful enquiry for the product. Neilsons Online Global Survey (2009) shows that people trust te levision advertisements more as compared to online banner advertisements, although the degree of trust in online reviews is much higher than that of trust in television advertisements.The survey suggests that all over the world 61% people trust television advertising, whereas in Europe 49% completely or somewhat trust television advertising. The Global average for trust in online media is 41% whereas the trust in Europe is 36%. Stone (1999) suggests that internet allows not only two way communications but also scope for a commercial transaction; therefore it is easier to convert advertisements into business transactions online, thus increasing value to customers who would otherwise place their orders on the phone or visit a store.The Neilsons online consumer survey (2009) suggests that two thirds of the global consumer thinks that advertising allows the consumers to make more informed choices. The survey also suggests that the highest trusted form paid advertising is signed up e-mai ls followed by brand sponsorships. Consumer trust is often subjective based on familiarity with the brand and the medium and the security of the consumer, apart from the perceived risk. (Ha , 2004). It is thus important to understand how these factors lead a consumer to perceive the relevance of a particular medium particularly internet.Another important factor is the value of the information passed on to the consumer as it is one of the main functions of advertis ing 5 3500576 DISSERTATION-MA ADVERTISING &MARKETING (Kotler et al 2009). The relevance and the accuracy of the content contribute to the trustworthiness of an online advertiser. (Abels et al, 1999). The way the content is presented also often aids recall. The consumers? find advertisements with comic content easier to recall in both television and online advertising, although the television advertisements are more engaging than online advertisements based on comic element, emotion and the informational content. The Neilso n online consumer survey,2009). This study has been conducted based on a combination of secondary and primary research. The secondary research has been used to understand the already existing data and expert opinions of the researchers related to online and television advertising in order to build a foundation for the research. Further a survey and In depth Interviews have also been conducted to understand the following: Which media is preferred better by the consumer? Which types of online advertisements are more popular? Is online advertising more specific and informative?Does television advertising motivate the consumer to buy the product? What are the tangibles that a consumer notices about a television advertisement? What factors aid recall in both Television and Online Advertising? The data has been collected and systematically analyzed, based on which conclusions have been drawn. The study also has some limitations and managerial implications which have been discussed later. 1. 2 AIM The study aims to understand the consumer perception of the current television and online advertising. It aims to understand which form of advertising do consumers prefer 6 3500576 DISSERTATION-MA ADVERTISING &MARKETING nd also establish the reasons as to why consumers prefer one form of advertising over the other. 1. 3 OBJECTIVES OF THE STUDY The objectives for the study are as follows: To understand consumer preference between Television advertising and Online advertising. To establish grounds based on which consumers may prefer one form of advertising over the other. To understand the factors which enhance consumer recall and trust in Television and Internet 2. LITERATURE REVIEW In order to understand how consumers perceive advertising on television and on the internet, it is important to understand how consumers perceive advertising in the first place.The literature review forms in this study forms the basis for conducting primary research. The work of various authors h as been studied, reviewed and analysed in order to gain insights on what have been the trends of consumers till now relating to television advertising and internet advertising. The literature review also studies the scope in television and online advertising. 2. 1 CONSUMER PRECEPTION OF ADVERTISING Advertising by definition is a structured and composed, non personal form of communication of information. Most advertising we see, in most mass medi a is consumer oriented.The focus of all of it is to drive the end consumer to purchase the product or service (Arens, 2006). Literature suggests that advertising is not necessarily seen with keen interest, unless what is being advertised is of value to the consumer. Whether its television watching or 7 3500576 DISSERTATION-MA ADVERTISING &MARKETING internet browsing, there are multiple activities carried out by the consumers, especially in order to avoid the commercial breaks and in case of the internet, consumers have the free choice to clo se the advert all together or to skip it (Blunden & Blunden 1996; Schiffman and Kanuk, 2007).It is important to track consumer attitudes towards advertising due the cumulative effect the consumer attitude can have on the exposure, attention and reaction that consumers have towards any particular advertisement. (Alwitt & Prabhakar, 1999) Blunden & Blunden (1996) in their book advertising in a multimedia age mention that with the advent of globalization, the new media particularly internet provides a platform for advertisers to send out a globally uniform message across various cultures without many extra costs. Key roles of Advertising to the consumerInformation Entertainment Every day culture Figure 1 According to a report of Advertising Standards Authority prepared by Rothwell and Hutchinson (2002) the consumer views advertising to be a part of daily life, in the absence of which life could be dull and boring. According to this report the consumers perceive advertising to have the following roles: Everyday Culture: Advertising today blends into the daily life of people, by creating needs and wants in their minds. Advertising also generates views of how 8 3500576 DISSERTATION-MA ADVERTISING &MARKETING eople want to be seen in the society and forms the basis of self image. This fact mentioned by Rothwell and Hutchinson (2002) is also backed by the theory of Self –Perception (Schiffman and Kanuk, 2007) which states that the consumer observes and makes judgments about their own behavior and choices. In case a decision works in their favor they would attribute the success to themselves and incase it does not they would attribute it to the source. Marketers use the theory of Self Perception using the Attitude towards the ad model of consumer behavior given by Schiffman and Kanuk (2007).The authors state that the consumer forms various feeling and judgments based on the exposure to an advertisement which in turn affect the consumer? s attitude and their perce ption towards a brand based on what it could make them look like or what it would deliver to them. Entertainment: Rothwell and Hutchinson (2002) in their research found out those 2 things which drive consumers towards advertising especially in terms of television advertising is that firstly they are high on entertainment. The consumers today feel that the advertising is very clever and the consumer has to pay attention to get to the message.Another feature which consumers enjoy is humor which seems to make its way into the consumers mind. This theory is relevant for both Television and Internet advertisements which try to work on the emotional appeal. Tony Yeshin (2006) in his book Advertising states that humor when integrated well with the brand messages and imagery with an element of surprise is seen to enhance attention, credibility, recall, evaluation and purchase intention as shown by various researchers. (Weinberger et al, 1995; Cline et al, 2003; Alden, Mukherjee & Hoyer, 200 0).Information: consumers value the information provided by advertising and prefer advertisements which inform them about new products or offers or prices of products rather than just acting as reminders of the brand (Rothwell and Hutchinson, 2002). Tony Yeshin (2007) in his book Advertising talks about the Informational function of advertising and states that the advertising focuses on keeping the customer informed, the information itself could be for a new product to a new user, for an old product to a new user, new uses of an old product etc. 9 3500576 DISSERTATION-MA ADVERTISING &MARKETING ased on the purpose of advertising. According to the Neilson online global survey (2009) on Advertising, by providing information advertising allows consumers to make better choices. Apart from that advertising delivers values such as public service economic opportunities and creating value for customer via competition. It is at the same time important to understand what the consumer perceives of differen t media which advertisers use. According to various authors despite consumer? s opinion of it being intrusive, Television remains the biggest medium for advertising. Kirchhoff, 2009; Tony Yeshin, 2006; Rothwell & Hutchinson, 2002). According to Kirchhoff (2009) in the time of recession where every form of advertising is seeing a downfall, it is only internet advertising that has seen growth. Kirchhoff (2009) in her work also mentions that interactive advertising on platforms such as social networks, gaming, mobiles, online videos and websites holds the key to the future of advertising. Thus it can be said on the understanding of the work of authors mentioned above that consumer attitudes towards advertising are based on their day to day preferences, way of living and culture. . 2 THE GROWTH ONLINE ADVERTISING With the growth of new media the advertising is moving from the push concept of marketing towards the pull concept of marketing (Blunden & Blunden & Blunden & Blun den, 1996). According to Corey (2005) pull strategy is designed to generate endconsumer response. It is used as a tool of trust building, interactive form of communication which leads to the consumer pulling the products through channels. Corey (2005) also states that Pull strategy has often been seen to establish a brand identity and personality, by allowing the consumer to interact with the brand.Blunden & Blunden (1996) suggests that the advertising in the new media, particularly internet focuses on three main elements: 10 3500576 DISSERTATION-MA ADVERTISING &MARKETING Communication: the message should be clear and innovatively represented to gain consumer attention and retain it as well. Information: the information provided should be relevant and easy to understand and should motivate consumer response. Service: there should be sources of instant service available in order to cater to any consumer interaction.The authors (Blunden & Blunden, 1996) mentions in the book â€Å"Adv ertising in a Multi Media Age†, that it is important to deliver the above three elements to the consumer as with the growth in technology the communication is now on a one to one basis. The consumer engages with the message directly due to its constant availability and no space or time constraints. This also works to the advantage of advertisers as they are able to keep a tab on consumer responses and the message can be altered easily and widely sent without compromising on content.The authors suggest that the success of online advertising is based on the level of involvement it is able to generate with the consumer rather than the exposure. With its wide reach and scope for interactivity, online advertising can lead to serious branding activities. Previous researches have shown that consumers find advertising on the internet both informative and entertaining; however the consumer focus remains on the informative element of the advertising (Ducoffe,1996; Diaz et al, 1996; Meht a and Sivadas, 1995). Advertising on the Internet is a great source of income for web based business.And with further growth predicted for internet, it is growing into a global phenomena reducing the cost and increasing the effectiveness of advertising by allowing the marketers to target the consumers who are interested in their products and services and are more likely to act on the advertisements they are exposed to. (Evans, 2009) Online Advertising revenue has increased from 8. 1 billion dollars in 2000 to 21. 2 billion dollars in 2007. Over all Internet advertising has shown a growth of 8. 8% during the same time period. (Interactive Advertising Bureau Press Releases 2000-2007) 11 500576 DISSERTATION-MA ADVERTISING &MARKETING Figure 2 Source: Interactive Advertising Bureau Annual Report and Press Releases, 2000 -2008. Literature (Blunden & Blunden 1996; Zeff & Aronson, 1999) suggests the following advantages of online advertising: 12 3500576 DISSERTATION-MA ADVERTISING &MARKETIN G High degree ofConsume r control Consumers /consumer responses can be easily tracked Effective Targeting Advantages of online advertising Not bound by geographic al limitations Deliverabilt y/High quality entertainme nt Flexibility Figure 3Online advertising first started in the form of promotional emails for discussion groups in the early 1990? s. Over the years what started out as a medium for early adopters, internet by 1998 had turned into an important platform for mass marketing, gaining wide acceptance from audience for advertising on the internet (Zeff & Aronson, 1999). Some popular forms of advertising on the Internet have been explained by Zeff and Aronson (1999) as follows: Websites as advertisements: they were seen as the first kind of Internet advertising, but since they were either too simple (focused on giving out brochure 13 3500576DISSERTATION-MA ADVERTISING &MARKETING like information) or too complicated (technical features and complicated design) they failed initi ally. Since then marketers have come a long way. Today the websites not only act as a mirror to the brand image but also provide the marketer a platform to sell himself to the vast pool of consumers, interact with them and develop a relationship with them based on two way communication and understanding their needs. From being technically complicated the websites today have gone to being innovatively simple. They use humor and contextual information to convert a browser into a buyer.A very good example for this has been cited by Zeff and Aronson (1999) they mention the Cadillac website which allows the consumer to chose the model of the car they want to buy and then from that point onwards, the user can decide on all the options they want in the car from the exterior colour to the interior design. Direct Mails: what started out as email newsletters, discussion lists and sponsorships has evolved into advertisers sending direct mails to their consumers. Direct mailing is a brand build ing exercise which acts as a time to time reminder of the brand and helps gain an insight into changing consumer trends.Although it has been a popular mode of advertising, it has been very often criticized for its Spam status and poor results. ( Zeff & Aronson, 1999) Banners: Banner advertising is a standardized type of online advertising (typically 468 ? 60 pixels in size) that consists of graphic and textual content and contains a link to the advertiser? s Web site (Manchanda et al. 2006). Banners have been one of the mostly spent on form of web advertising. From being static to interactive today banners have evolved which allow the consumer to view videos or even complete transactions without actually leading to the website of the brand.Banners today are more interactive and entertaining. The role of banner advertising has changed from generating website traffic to creating brand recall and providing the customer a good experience. (Zeff 7 Aronson, 1999) 14 3500576 DISSERTATION-M A ADVERTISING &MARKETING According the study on online behavioral advertising (2009) by the Internet Advertising Bureau 50% more people can trust online advertising than five years ago. The study also states that almost 46% people like online advertising and reflect a positive attitude towards it. Figure 4 Source: Internet Advertising Bureau (2009) 5 3500576 DISSERTATION-MA ADVERTISING &MARKETING Figure 5 Apart from the traditional forms of online advertising, online advertising today based on elements of interactivity uses more creative and wide spread instruments such as games and social networking websites to cater to the advertising needs of the consumers. Online advertising has gone another notch above by using 3 -D advertising to enhance consumer experience. Using 3-d effects in advertising products has been seen to enhance the consumer experience and increase advertising effectiveness. Debbabi et al, 2010). The study of the literature in this section suggests that internet as a medium has come a long way and the way consumers utilize it is also dynamic. Thus in an age where internet is one of the most popular mass medium it has become important to understand what drives the consumer to notice and trust one form of advertising over another. 2. 3 THE CHANGING SCENARIO OF TELEVISION ADVERTISING Hackley (2010) in his book Advertising and Promotion argues that TV till date remains the most prestigious way of reaching out to an audience of millions.Although it has a wide reach and is capable of creating huge dramatic impact Television advertising can prove to be very expensive. The reason for this can be attributed to the fact that 15 16 3500576 DISSERTATION-MA ADVERTISING &MARKETING commercial programme makers serve the entire UK via the ITV network and the BBC does not carry any advertising on any of its channels. (Hackley, 2010) Arens (2006) in his book Contemporary Advertising states that Television as a medium of advertising is available to advertisers i n two main forms broadcast and cable.Although Television has been used in the past as a strict form of mass media, today it is much more versatile than that. From offering advertising about mass consumption goods to niche advertising, today Television advertising caters to a variety of advertisers needs. The Author is of the opinion that Television apart from delivering creative big ideas also plays a very important role in building brand personality and consequently develops consumer relations with the brand.Today advertisers use it as a leverage tool, where the consumer can identify themselves as prospects by responding to a commercial and interacting further with the brand via other media such as internet or SMS. Kotler et al (2009) in their book Marketing Management back the above theory by mentioning two major strengths of Television advertising, first it can be effective means of demonstrating product attributes and persuasively explaining their corresponding benefits to the c onsumer. Secondly it helps define brand personality with the use of imagery.Hackley (2010) further feels that television as a medium is so powerful that it tends to dominate in a room demanding attention even if the viewers are not necessarily interested. It is the medium which reflects and projects audience fantasies and aspirations and brands use this to promote themselves as accessories to these aspirations. The author further explains that TV as a medium has the power to convey different values across various cultures and has the ability to adapt to the various ways people perceive the information broadcasted on it.TV is seen as a social medium which reaches to the people looking for entertainment, information and ideas about new ways of living and consuming. 17 3500576 DISSERTATION-MA ADVERTISING &MARKETING However television advertising is not without its limitations. Zhao et al (2011) cited authors such as Kent (1993) and Zhao (1997) who in their work mention that the growth of clutter in television advertising has always been of concern to marketers, as it causes great amount of confusion in the mind of the consumer and may even be a negative influence on the overall success of television advertising.Nail (2004) supports this argument by stating that most consumers, even those who believe advertising claims or pay attention to forms of advertising online and offline are keen on signing up for devices and services which allow them to block advertisements. The reasons for this trend have been showcased in the figure below: Figure 6 Source: Nail (2004) Bellman et al (2010) in their study of using interactive banners to reduce television advertisement avoidance stated that the use of interactive banners can re duce the frequency of channel switching by almost 40%, although they did reduce the recall of the viewers.However they also stated in their work that it has become important to retain the consumer at any cost, rather than letting them avoid advertise ments . The Authors are of the opinion, that with the change in time and development of new technologies, Television advertising, which was once seen as an intrusive one way form of communication has turned into an interactive form of communication, allowing sco pe for feedback and further enquiry, via communication channels like the internet and 18 3500576 DISSERTATION-MA ADVERTISING &MARKETING telecommunication.Brian and Margot Blunden & Blunden & Blunden & Blunden (1996) suggest that the two toughest challenges phased by television advertising are: Networked Interactivity: with the internet offering various opportunities of detailed interaction and the growth of niche marketing, television is mostly competing for consumer time which is finite in nature. Internet here gains serious advantage in terms of information retrieval, gaming, transactional activities etc. Interactive Video Networks: with the growth of high quality video channels and online version of television channels, t he way television advertising is perceived has changed a lot.With great audiovisuals of products available on servers, consumer? s choice has become paramount and programming today reflects more and more of the marketplace. Television is growing into a mass medium with something to offer to a niche market at the same time. As the viewers control over his/her viewing increases, advertising is moving towards a more specialized strategy in terms of targeting and even in terms of content. (Blunden & Blunden & Blunden & Blunden, 1996)In this age where Advertising can easily be perceived as intrusive it is important to understand what drives the consumer to trust a certain form of advertising and to understand what draws the consumer? s attention. According to Neilson? s online global survey of advertising (2009) the trust in television advertising since 2007 to 2009 has increased by 2%. Further the trust in Brand sponsorships has increased from 49% in 2007 to 63% in 2009. The survey furt her shows that the trust in all advertising categories online has increased. These are positive signs which show that although there is clutter in the 19 500576 DISSERTATION-MA ADVERTISING &MARKETING advertising world and brands have various claims to make, the trust of the consumer may be shifting from one medium to another but is not lost. This can be further understood by the charts given below which give a clear idea of level of trust in various advertising media. Figure 7 Source: Neilsons Online Global Survey for Advertising (2009) 20 3500576 DISSERTATION-MA ADVERTISING &MARKETING In Neilsons Online Global Survey for Advertising (2009) the elements of humor and emotion are very important for the consumer to be engaged in advertising.According to their survey they found that the consumer engagement in TV adverts was more than the consumer engagement in online video adverts. This is further validated by the chart given below: Figure 8 Source: Neilsons Online Global Survey on Adve rtising (2009) Though television is still the most widely used form of advertising, the way television is used and programmed all over the world has changed a lot. This study intends to understand how consumers are dealing with the interactive element of television advertising and how do they perceive television advertising in today? world. 2. 4 ONLINE VS TELEVISION MEDIA FOR ADVERTISING Traditional media although offer a very wide reach they have a definite schedule and are broadcast at a particular time, the advertisers can not in this case do much to ensure that the consumers they have targeted are exposed to the advertisement. The consumers may often be undertaking more than one activity while viewing television; 21 3500576 DISSERTATION-MA ADVERTISING &MARKETING they may get up for a coffee or switch channels, all these factors of avoidance are out of control of the advertiser. (Evans, 2009)Internet and Online advertising offer a distinct advantage over television in thi s case; they allow the advertiser to track consumer activity and the level of engagement of the consumer in a particular advertisement. (Zeff & Aronson, 1999; Evans, 2009). Further Evans (2009) that since it is easy to track consumer activity online it is also easy to offer advertising related to the activities the consumer is involved in thus creating a link between the two and creating a relationship between the brand, the advertisement and the consumer. A great example of this is the advertising on face book.Based on recent online history and the personal likes and is likes updated by an individual on their profile advertisements are updated on the wall of the individual thus offering what the consumer may be interested in on a platform that the consumer chooses to be exposed to on a frequent basis. Blunden & Blunden (1996) in their book Advertising in the Multimedia Age state that television advertising is bound by textual, visual and acoustic formats in order to convince the consumer that the product being advertised is a way of fulfilling their desires.The consumer in such a case has to go through the entire advertisement to get the message. The linear form of communication makes television advertising strictly a form of push marketing whereas the Internet works on the pull marketing concepts, the advertising on the internet allows the consumer to view the advertisement on a one to one basis and engage with it, allowing the consumer access to it without any limitations of time and space making online advertising more niche in its approach. Nel et al. 1999) suggests that offline business extend their business online to offer support to it just as TV networks are doing so thus keeping their target audience with them. In order to ensure that this consumer market is not lost to advertisers media companies have introduced many cross-platform advertising packages that use both online and offline versions of the media to make the medium more attractive to advertisers. For example, NBC used its cross-platform advertising package for its Winter Olympics program and achieved considerable success (Beard 2002). 2 3500576 DISSERTATION-MA ADVERTISING &MARKETING Although many studies have been conducted about the online advertising and television advertising (Evans, 2009; Forest, 1998; Nail, 2004; Debbabi, 2010; Bellman, 2010) there is not much written about what the consumer thinks of the changes in the advertising media and the changes in the pattern of advertising in both media. Forrest et al (1998) states that â€Å"New theoretical models are emerging to explain the many-to-many communication processes evolving (Hoffman & Novak 1996) from Internet communication.However, theorizing and further research needs to extend beyond the process to the structure of attitudes to Internet advertising, as has been proposed by the current research. † Based on the study of the above mentioned literature it can be said that both television advertising and In ternet Advertising have evolved a lot. Television has gone from being one way communication to adopting a more interactive approa ch of advertising by making online websites a part of their advertisements and moving towards recorded television allowing people to skip commercials altogether.Similarly Internet is also continuously evolving, with new forms of advertising becoming popular; it has become crucial to understand that eventually it is up to the consumer to choose what they want to pay attention to and what they chose to remember. Thus making the consumer the king, with the advantages of both the media, it becomes essential to understand what makes the consumer remember the advertisements in one media better than the other and what kind of advertisements work in which type of media. 2. 5 SCOPE FOR TELEVISION & ON-LINE ADVERTISINGThe advertising scenario is dynamic and is changing rapidly. With the digital media gaining more and more importance the advertising campaigns are cr oss channel. Kirchhoff (2009) in her work states that the internet will have to focus on the new developing platforms for advertising and be creative with it in order to gain the consumers attention and retain it. For a better understanding of the consumer and a wider reach, advertisers have to focus on platforms such as social networking and gaming. 23 3500576 DISSERTATION-MA ADVERTISING &MARKETINGOnline advertising is moving towards behavioral marketing, meaning it is based more and more on the information provided by the consumer on various platforms such as facebook or websites where they are registered. Ingis et al (2009) in their report developed for the Advertising Association of America state that a dvertising today is based on the major following fundamentals: Transparency Data safety and sensitivity Consumer control With the growth in interactivity these three aspects of online advertising need to be considered seriously.Further in television Brennon (2011) in his nuerosci entific study of advertising on television states that advertising on television works at a very deep level. Advertising on television is more about creating emotional associations, telling stories & influencing the way we feel about brands rather than creating awareness alone. The study conducted by Brennon (2011) states that television as a medium is more about engagement and thus affects the emotional part of the brain more than the rational part. Brennon argues that what makes television commercials work is the creativity.The advertisers must focus on the fact that the advertisement should be able to tell the story in an emotionally engaging manner, the most effective tool for which is music. The study states that TV as an advertising medium generates almost 30% higher levels of emotional intensity, engagement and detailed long term memory, all of which are indicators of future brand purchase. It also suggests that internet as a medium of advertising is more effective when appea ling to the rational part of our brain and is more attention in terms of visuals. The study further states that launching a campaign which uses television and nternet advertising in a manner that it compliments each other, tends to increase the level of 24 3500576 DISSERTATION-MA ADVERTISING &MARKETING engagement, but that is order specific, i. e. first the consumer has to be exposed to television advertisements followed by online reminders or engaging activities. In conclusion, it can be said that, based on the thorough study of the literature that the way the consumer perceives any form of advertising or the medium of advertising is not only content based but also depends on the exposure to the medium, personal needs and wants.The use of emotion and information along with clear feedback or response options are the common links in both television and online advertising. Both the media are functioning on the basis of interactivity and the aim of all advertising it seems has become t o get the consumer to revert back the advertising brand. The study ther efore focuses on finding out the motivational factors which lead the consumer to pay attention to a particular advertisement or respond to it.The study also focuses on understanding a deeper understanding of how entertainment and use of emotion aids recal l and trust in advertising in one medium over another by using qualitative methods. Further the study uses quantitative methods in order to understand the general preference of the consumers of television and online advertising. It analyses the trust, valu e and engagement factors which consumers consider important using an online survey. Having understood how consumers react to different media can have various managerial implications for the companies which have been highlighted in the study later on. . PROPOSITIONS TO BE STUDIED Before commencing the primary study, it is important to understand the propositions being investigated. The through study and analys is of the literature in the above section has highlighted that although a lot has been said about consumer attitude towards advertising, the growth of internet as an advertising medium and the dominance of television, there are no studies in particular which take in the consumers perspective about the advertising in both television and internet as media and account for popularity with the consumers.This study aims to find answers to the following propositions: I. To understand which of television advertising & online advertising is more popular with the consumers? 25 3500576 II. DISSERTATION-MA ADVERTISING &MARKETING To understand which features of television advertising & online advertising do consumers enjoy? III. To understand why consumers trust advertising in one medium over another? IV. To understand what motivates recall in one medium over another for the consumers? 4. RESEARCH METHODOLOGY This section examines the methods which have been used to carry out the study.A critica l examination of all the methods used has been undertaken to ensure that they are best suited for this study. Proctor (2000) in his book â€Å"Essential of Market Research† defines market resea rch as the disciplined collection and evaluation of specific data, in order to help suppliers understand their consumers better. (Citing: Chisnall, 1992) 4. 1 SCOPE OF THE STUDY This study has been conducted in order to gain an insight into the consumer understanding and preference of the advertising in Television and online media.Understanding of literature in the previous section suggests that although a lot of research has been conducted in terms of the consumer belief towards a dvertising in different media, there is very limited research available which is indicative of what is the consumer? s evaluation of advertising in the current media and gets the consumer to notice advertising in one medium over another. The study has been conducted in two phases: the exploratory and the des criptive.The study uses a mixed methods approach of marketing research, using quantitative and qualitative research methods in order to understand consumer perspectives on television and online advertising. Johnson et al (2004) in their work state the following advantages of mixed methods approach 26 3500576 DISSERTATION-MA ADVERTISING &MARKETING A mixed method approach allows a larger array of questions to be answered more specifically. The use of quantitative and qualitative methods allows the researcher to validate the data in terms of numbers as well as attributes.A mixed methods approach helps increase generalization of the results and use the numbers to validate insights. Can provide stronger evidence by convergence of both results. Bryman (2006) further states that conducting a mixed methods research can be advantageous as it allows the researcher to clarify the nature of their intentions and accomplishments. The study through comparison of trust and popularity of advertising in television and online media helps gain an insight into what the consumers are willing to pay attention to and whether it has any effect on their purchase decision and overall experience further enhancing recall.The quantitative part of the study allows the consumer motivations and preferences be represented in numbers showing a clearer picture of consumer choices of exposure and the quantitative part of the study is reflective of the causes for the choices. 3. 2 RESEARCH DESIGN Churchill (1979) defines research design as the tool for overall guidance for the collection and analysis of data. Research design is very important as it acts as a very critical link between the theory and data collected (Nachmias & Nachmias, 2008).Bryman and Bell (2007, p. 40) state that the research design is reflective of the priority given to the different dimensions of the research process. The research design for this study can be depicted as follows: 27 3500576 DISSERTATION-MA ADVERTISING &MARKETI NG Research Design Exploratory Face to face Interview (6) Descriptive Online Survey (100) In Depth Interviews (4) Figure 9 The research has been conducted in two stages. The first being the exploratory research where the study tries to establish the grounds for the actual study.This phase uses qualitative tools to probe the consumer in order to gain insight into consumer habbits and perceptions relating to television viewing and internet browsing. The study focuses on the consumer specific aspects of television and online advertising to are the consumers aware about and how much attention they pay to these forms of advertising followed by Descriptive research using Quantitative an d Qualitative research about Television Vs Online advertising – the consumer? s perspective. The descriptive phase deals with representing consumer preferences in numbers.Exploratory research can be defined as the study undertaken to identify new problems without any awareness of the nature of the p roblem or to define characteristics or variable which affect the nature of the problem. The exploratory research is used in order to gain insights in to the general nature of the problem and the relevant factors which need to be considered (Aaker, Kumar and Day, 2001). The study uses exploratory research to understand the consumer dynamics and usage of television and internet as media.The exploratory research aims to understand the consumers? usage of television and internet and their perception of features of television and online advertising that the consumers notice and what they like about television and online 28 3500576 DISSERTATION-MA ADVERTISING &MARKETING advertising in particular. Since the consumer? s perception of the advertising in both media cannot be gauged, this phase of the study uses unstructured face to face interviews in order to conduct the exploratory research. Aaker, Kumar and Day, 2001) The findings from the exploratory research have been used as the premises for the Descriptive research, by using the findings to design the questionnaire and the in depth interviews. The second phase of the research is Conclusive –Descriptive. According to Aaker, Kumar& Day (2001), descriptive research is widely used in market research to describe systematically a phenomenon, attitude towards an issue, service or programme. Glass & Hopkins (1984) in their work state that descriptive research can be both, qualitative and quantitative.It involves gathering data which is descriptive of an event or situation which can further be organized in to data tables and charts which describe the outcomes of data collection. This phase of the study uses both quantitative and qualitative methods of data collection. This phase aims to understand which medium is preferred by most consumers in terms of advertising appeal and experience. In this section the study is designed to gain insights into motivating factors which may lead to an inclination towards advertising in one medium over the other.In order to understand over all preference of the consumer, an online survey has been used and in order to understand the possible motivating factors in depth interviews have been conducted. 3. 3 Data Sources The study has been conducted based on relevant sources both secondary and primary. Secondary data has been used to understand the existing theories and consumer perspectives on advertising in general and advertising in different media. Primary data has been collected in order to highlight which of television or internet advertising is more popular among the consumers of today and why?Secondary Data Secondary data refers to the already existing data which has been collected by persons or agencies for purposes other than solving the problem at hand. (Aaker, Kumar & day, 29 3500576 DISSERTATION-MA ADVERTISING &MARKETING 2001) Aaker, Kumar& Day (2001) list the following benefits of using secondary data as a part of a research a) It forms the basis of p rimary research and helps understand and define the problem. b) Study of secondary data may provide enough information to resolve the problem. ) Study of secondary data helps understand data collection methods and plan the research accordingly. d) It helps define the population and set criteria for data collection. According to Proctor (2000) secondary data can be either internal: produced within an organization based on its day to day operation or external: collected from a wide variety of sources such as journals, books, trade publication etc outside an organizatio n. Books have been used extensively in the study for underlying theories. The theories have then been validated and their application has been studied through various articles.The study uses secondary data from journals which have been accessed via student resource bases such as EBSCO, EMERALD & SAGE. The books in this study have been accessed via the Lanchester Library at Coventry University. Primary Data Primary data refers to the data which has been collected for the first time in order to address a particular problem or to find answers to particular questions; it is usually conducted by market research institutions, educational institutions, government bodies and independent researchers (Curtis, 2008).Primary data helps the researcher actually gain answers to the research questions and move towards finding a solution to the research problem. It helps identify the relationship between existing variables and also if there are any new factors which need to be considered are brought into light. The primary data for the purpose of the study has been collected using an online survey with 100 Coventry university students and 4 in depth Interviews with Coventry university students. 30 3500576DISSERTATION-MA ADVERTISING &MARKETING 3. 4 Data Collection Methods Data collection is an important part of this study as it helps fulfill our objectives of trying to find out consumer preferences of television ad vertising and online advertising. For the purpose of this study both quantitative and qualitative methods of da ta collection have been used. a) Quantitative Data The quantitative data plays an important role in this study, as it helps establish the overall preference of the consumers.Johnson (2004) in their work mention advantages of the quantitative data, these have been listed below: It helps validating existing theories and also allows generalization of results. It helps assess cause and effect relationships better. Quantitative data is relatively easy and less time consuming to collect. It is precise in nature and data analysis is simpler. It is relatively independent of researcher bias. The Quantitative data for this study has been collected using an online survey. A Survey has been most often used to undertake descriptive studies.The Survey has been used as a main tool for data collection in this study as it allows the researcher to examine and explain the differences in choi ces and the relationship with factors that affect consumer choices (Saunders et al, 2007). Curtis (2008) states that the type of survey to be conducted depends on various factors such as the number of respondents required for the survey, time constraints, budget constraints &characteristics of the sample population. 31 3500576 DISSERTATION-MA ADVERTISING &MARKETINGThe survey for the purpose of the study is structured and has been designed online. It has been posted out to a database of 100 Coventry University students via social networking sites namely facebook. Couper (2001) in his review of web based surveys states that with the mass reach of internet and the low cost that it offers, internet has become an easier medium for the researcher to reach out to the samples without being bound by geographical or time limitations. This allows the researcher to gain insights into a wider variety of data and reduce to some extent sampling bias.This statement is also backed by Curtis (2008) w ho states that online surveys are particularly advantageous when sending it out to study internet users and they allow the surveys to be completed quicker and with minimal or sometimes no cost at all. T he survey for this study is a structured close ended survey which has been designed using the internet survey website- www. kwiksurveys. com . The survey aims to understand consumer attitudes towards television and online advertising thus the questions have been designed such that each question offers multiple choices.The survey also uses likert scale in order to understand consumer attitude towards online and television advertising (Proctor, 2001). The survey has been attached in the appendix. b) Qualitative data The study uses qualitative methods of data collection in the exploratory as well as descriptive phase. In the exploratory phase, personal interview has been used in order to gain insight in to consumer? s behavior towards advertising on television and internet. The personal interview has been seen as one of the best methods for in home interviews. Proctor, 2001) for the purpose of the study the personal interview has been conducted at home for 6 different people in their homes. The interviews are brief and friendly and don? t last for more than 20 minutes. The interview has been designed so as to understand what the consumers are watching and what are they actually paying attention to in terms of advertising. The interview guide has been attached in the appendix. The personal interviews use a mix of open and closed ended questions. 32 3500576 DISSERTATION-MA ADVERTISING &MARKETING For the descriptive phase In depth Interviews have been conducted.Webber and Byrd (2010) define In depth interviews as â€Å"a qualitative research method which uses open ended questions to uncover information on a topic and allows interviewees to express their opinion and ideas in their own words. † Despite the fact that the survey does include questions which measur e consumer attitude, it was important to include in depth interview in the study because survey often relies on the assumption that the interviewees have understood the questions as intended and that the survey is capable of capturing the complete reality (Berg, 2009; Esterberg, 2002) however this may not always be true.Thus the study uses In -depth interviewing which acknowledges the subjective approach of the interviewee and gives them scope for addressing the question as per their reality (Webber & Byrd, 2010). Proctor (2001) states the following advantages of in depth interviews ? There is no group pressure, thus the respondent is free to reveal their true feelings. ? The one to one scenario makes the respondent feel important and valued. ? Respondents can be probed at length to reveal their true feelings and under laying motivation. ? Allows greater scope for non verbal feedback.The in depth interview for the purpose of this study has been conducted with 4 samples, each intervi ew lasts for 30 minutes. The interview uses some projective t echniques. Projective techniques can be defined as techniques which help penetrate individual? s defense mechanisms allowing their true emotions to emerge. (Proctor, 2001) For the purpose of this study word association test and sentence completion test have been used. The respondent is given a series of words or incomplete sentences which they have completed based on what comes to their mind when they think of the word or sentence given. Proctor, 2001) 33 3500576 DISSERTATION-MA ADVERTISING &MARKETING The in depth interview has been based on an interview guide which was developed to give a direction to the interviewees. According to Webber and Byrd (2010) an interview guide includes specific questions, topics of interest and ques which can be used in combination thus leaving scope for flexibility of the interviewer. The interview guide helps shape the structure of the interview as per the comfort of the interviewee. The i nterview guide leaves scope for follow up questions and thus making it easier to tap the respondent? s views.The interview guide for the in depth interviews in the study has been attached in the appendix. Furthermore the In depth interviews have been videotaped for the purpose of accuracy in analysis (Webber & Byrd, 2010) with the consent of the respondents, the consent forms for which have been attached in the appendix 3. 5 SAMPLING According to Ross (1978) sampling in educational research is generally conducted to study a part of the population in detail rather than the whole population itself. The information gained from the study of this sample is used to develop generalizations about the population.To sample is to examine a portion of a whole in order to judge the nature of the whole. (Proctor, 2001) The sampling plan used to choose the sample for both the survey and in depth interview is based on the model given by Proctor (2001) Defining the Target population Developing a sam ple frame Selecting a sample design Figure 10 34 Defining the sample size Selecting the sample members 3500576 DISSERTATION-MA ADVERTISING &MARKETING Sample Population: The sample population for this study is students of Coventry University, UK. The population has been defined by Proctor (2001) as the sum total of what is being measured.Sampling method: for the purpose of this study, the Sampling method used is non-probability judgment sampling. Proctor (2001) defines judgment sampling as the sampling based on the purpose. Ross (1978) states that â€Å"The process of judgment, or purposive, sampling is based on the assumption that the researcher is able to select elements which represent a „typical sample? from the appropriate target population. † For the purpose of this study the judgment was based on the usage of internet for over 2 hours. Over 150 respondents were contacted for the purpose of the study of which 100 responses were successfully received and evaluated.S ample size: the sample size for the online survey is 100. For the exploratory phase a sample size of 6 personal interviews has been used. The sample size for in depth interviews in the descriptive phase is 4. The samples fall in the age group between16-45. The samples belong from different nationalities. For the purpose of this study they have been asked to mention their ethnicity, which can be categorized as Asian, British, African and other. The samples are students pursuing bachelors and masters degree. 3. 6 DATA ANALYSIS TOOLS The data analysis for the study uses tabulation.According to Proctor (2001) tabulation involves laying out data in easy to understand summarized tables. Patterns in the data can be easily identified and are easier to represent in the form of graphs. The data collected from the survey has been converted in to a table using Microsoft excel. The data collected from personal interviews and in depth interviews has been recorded with the due permission of the pa rticipants and transcribed. The data transcribed has been analysed using content analysis and study of semiotics. Content analysis has been used in order to understand common themes which emerge in terms of the consumer? perception of advertising in both the media (Weber, 1990). Semiotics has 35 3500576 DISSERTATION-MA ADVERTISING &MARKETING been used in order to look out for signs and body language during the interviews which are indicative of any sort of attitude or emotion towards advertising in television or online media. These tools however cannot be used as complete proof of the consumers attitude towards the subject, and thus will only be used to highlight the common possible themes and gain insights into possibly existing attitudes. 3. 7 DATA REPRESENTATIONThe results and data interpreted for the study have been represented using tables, graphs and diagrams. 3. 8 LIMITATIONS OF THE STUDY There are no major limitations to the study. The study is a low risk project and has bee n approved by the supervisor. An ethics form stating the same has been attached in the appendix. The limitations for this study can be stated as follows: Because of Judgment sampling, there could have been a sense of bias based on the exposure of the researcher to target population. The researcher may have passed the survey around to a known group of samples belonging to the target population.The in depth interview has been conducted with only 4 participants due to lack of time, thus they may not represent the views of everyone on the whole. Each respondent of the interview has subjective views based on their experience thus they cannot be used as a standard measure to judge the attitude of an entire population. 5. DATA ANALYSIS 5. 1 RESULTS OF THE EXPLORATORY RESEARCH The exploratory research was conducted with six people who were interviewed face to face. During the course of the conversation the suggested the respondents suggested 36 3500576 DISSERTATION-MA ADVERTISING &MARKETING hat being students they usually end up browsing online more than they spend time watching television. One of the respondents said that â€Å"I enjoy watching some advertisements on television in between programmes only if they are funny. † While another said that â€Å"I cannot really sit through commercials, I end up getting up for tea or something. † The results of the exploratory research highlighted the following areas to be focused on for the descriptive phase of the research: The emotional and rational aspects of the advertisemnts need to be understood based on the media.For example one of the respondents said that â€Å"I prefer clicking on an internet advertisement because I am bound to find some relevant information there whereas TV advertisement is just a form of entertainment for me. Online advertisements are easier to avoid but they offer better deals. For example one of the respondents said â€Å"I can simply close an advertisement and carry on, at the same time if it has a great discounts or deal to offer I will have the option to look up the deal and even make the purchase then and there.The focus has to be on understanding the attitude of the respondents towards the advertising in TV and Internet and defining a definite preference for one over the other. 5. 2RESULTS & FINDINGS OF THE ONLINE SURVEY The survey was completed in the duration of 5 weeks starting 20th November 2011 and ending 28th December 2011. The results were extracted from the website www. kwiksurveys. com in the form of a pdf which gives detailed understanding of the overall responses to each question. Further an excel sheet giving an overview of individual responses to each question has been extracted both of which has been attached in the appendix. 7 3500576 DISSERTATION-MA ADVERTISING &MARKETING Based on the online survey, the study found that most of the students who filled in the survey were Asian followed by equal number of Africans and British. Most stude nts were in their 20? s. 7. 22 % 7. 22 % 80. 41 % 5. 15% Asian African British Other Figure 11 Based on the data collected it can be said that over all students spend more time browsing on the internet these days rather than watching television. Most students watch television for 0-2 hours. The comparison of time spent watching television in day to time spent browsing online is depicted in the figure below: 8 3500576 DISSERTATION-MA ADVERTISING &MARKETING Time spent watching tv vs browsing online 100 78. 35 27. 27 80 2. 06 60 6. 19 13. 4 40 0-2 hrs 22. 22 29. 29 2-4 hrs 4-6 hrs 21. 21 20 more than 6 hrs 0 Time spent watching TV Time spent Browing Internet Figure 12 60% of the sample who took the survey said that they skipped advertisements shown on television. Despite the high number of people skipping advertisements, the advertisements which people found most appealing were humorous ones; in second place were the ones which offered deals & discounts followed by the ad vertisements using emotional appeals. of people who skip Tv advverts 38. 78 yes 61. 22 Figure 13 39 no 3500576 DISSERTATION-MA ADVERTISING &MARKETING Type of Television advertisement found appealing 100 80 61. 62 60 40 16. 16 20 11. 11 10. 1 1. 01 0 Tv Ad Appeals Humorous Deals Emotional Social messages Ads for websites Figure 14 61. 62% of the people said that they found humorous advertisements easier to remember. Further they said that 16. 16% people remembered advertisements which offer deals and discounts.Cline & Kellaris (2007) concluded in their work that when humor is well related to the message of the advertisement not only aids brand recall but also increases consumer? s ad recall.

Hamlet Analytical Essay Essays

Hamlet Analytical Essay Essays Hamlet Analytical Essay Paper Hamlet Analytical Essay Paper And if I stay it will be double, which provides an explanation of all the murders and suicides that were a result of Hamlets decision to not end his life. !! The conscience drives ones decision making, which determines the end, and the ate of the afterlife. Hamlet has demonstrated how overthrowing can lead to unlawful deaths, and how one will pay for their sins in the afterlife. However, Hamlet and his family are Christians, and if they followed their own beliefs, the outcomes would have been different. Hamlet would have a clear conscience, no deaths would have taken place, and their afterlives would have been saved. Through this play, Shakespeare teaches the important lesson of morality. Do right, and one will be saved. Do wrong, and one will be punished. !

Principles and Functions of Management

Principles and Functions of Management Out line:This essay will look at the Principles and Functions of Management. Which mentions there is a difference between what a manager should do and what they actually do? According to many writers observation. Subsequently, I will comment by usage of my own knowledge of management theories and concepts. Further more, it is based on an experience and press stuffs. Due to main discussions, my assessment can be divided into following paragraph:I.IntroductionIn this order I will define:-What is a manager?-Why do we need the management?-Theories management: X and Y-Levels of managementII. PresentationIn this case I am going to explain:- What a management should do?-What they actually do?-How come there are the differences?-How does it influence on organizational values?II.Conclusion-Summaries the main points-Add solution and recommendationIII.IntroductionLong time ago, there was a concept of manager in every social class. Because people are always looking forward an individual, who can lead organization in a right way.The Whole TheoryThus, managers are people responsible for the process of planning, organizing, leading and controlling the efforts of organization members and of using all organizational resources to achieve stated organizational goals.The organizations tend to approach its objectives. Because of this, they desire there is a productive work. In term of this, we need to bring people together. It leads to combine experiences, knowledge, and efficiency resources. It is likely to achieve more than by people working on their own. Furthermore, the managers can make a planning to express goals in term of profit, market share in order to achieve these objectives the organizations require to have right people having responsibility, to make planning in the right time. The staff are required to performance the tasks given by the managers. Due to Pearce and Robinson statement that manager is: The process of optimizing human, material, and financial contribution s...

A Beginner Guide to Comparing Values in Perl

A Beginner Guide to Comparing Values in Perl Perl  comparison operators can sometimes be confusing to new Perl programmers. The confusion stems from the fact that  Perl  actually has two sets of comparison operators - one for comparing numeric values and one for comparing string American Standard Code for Information Interchange (ASCII) values.   Since  comparison operators  are typically used to control logical program flow and make important decisions, using the wrong operator for the value you are testing can lead to bizarre errors and hours of debugging, if youre not careful. Dont forget to catch whats written at the very bottom of this page for some last-minute things to remember. Equal, Not Equal The simplest and probably most used comparison operators test to see if one value is equal to another value. If the values are equal, the test returns true, and if the values are not equal, the test returns false. For testing the equality of two numeric values, we use the comparison operator . For testing the equality of two string values, we use the comparison operator eq (EQual). Heres an example of both: if (5 5) { print for numeric values\n; } if (moe eq moe) { print eq (EQual) for string values\n; } Testing for the opposite, not equal, is very similar. Remember that this test will return true if the values tested are not equal to each other. To see if two numeric values are not equal to each other, we use the comparison operator !. To see if two string values are not equal to each other, we use the comparison operator ne (Not Equal). if (5 ! 6) { print ! for numeric values\n; } if (moe ne curly) { print ne (Not Equal) for string values\n; } Greater Than, Greater Than or Equal To Now lets look at the  greater than  comparison operators. Using this first operator, you can test to see if one value is  greater than  another value. To see if two  numeric  values are  greater than  each other, we use the comparison operator  . To see if two  string  values are  greater than  each other, we use the comparison operator  gt  (Greater Than). if (5 4) { print for numeric values\n; } if (B gt A) { print gt (Greater Than) for string values\n; } You can also test for  greater than or equal to, which looks very similar. Keep in mind that this test will return  true  if the values tested are equal to each other, or if the value on the left is greater than the value on the right. To see if two  numeric  values are  greater than or equal to  each other, we use the comparison operator  . To see if two  string  values are  greater than or equal to  each other, we use the comparison operator  ge  (Greater-than Equal-to). if (5 5) { print for numeric values\n; } if (B ge A) { print ge (Greater-than Equal-to) for string values\n; } Less Than, Less Than or Equal To There are a variety of comparison operators you can use to determine the logical flow of your  Perl programs. Weve already discussed the difference between the Perl numeric comparison operators and the Perl string comparison operators, which can cause some confusion to  new Perl programmers.  Weve also learned how to tell if two values are equal to, or not equal to each other, and weve learned how to tell if two values are greater than or equal to each other. Lets look at the  less than  comparison operators. Using this first operator, you can test to see if one value is  less than  another value. To see if two  numeric  values are  less than  each other, we use the comparison operator  . To see if two  string  values are  less than  each other, we use the comparison operator  lt  (Less Than). if (4 5) { print for numeric values\n; } if (A lt B) { print lt (Less Than) for string values\n; } You can also test for,  less than or equal to, which looks very similar. Remember that this test will return  true  if the values tested are equal to each other, or if the value on the left is less than the value on the right. To see if two  numeric  values are  less than or equal to  each other, we use the comparison operator  . To see if two  string  values are  less than or equal to  each other, we use the comparison operator  le  (Less-than Equal-to). if (5 5) { print for numeric values\n; } if (A le B) { print le (Less-than Equal-to) for string values\n; } More Information on Comparison Operators When we talk about string values being equal to each other, were referring to their ASCII values. So, the capital letters are technically less than the lowercase letters, and the higher the letter is in the alphabet, the higher the ASCII value. Make sure you check your  ASCII values  if youre trying to make logical decisions based on strings.

Origins of the cold war beginning in around 1920 Essay

Origins of the cold war beginning in around 1920 - Essay Example The fear of communism in America in 1920s imposed a great threat to USA because they had overthrown the Royal family in Russia in 1917 and murdered them. The communists were then blamed for several strikes that took place including the police of Boston as well as Steel and Coal workers. This article attempts to analyse the origin of the Cold War in 1920s. The Red Scare of the 1920s saw the headquarters of dissident and communist institutions raided without any warranty and numerous people were arrested but were never neither tried nor allowed to access counsel. The media stations were shut down, as some legal immigrants were deported and the judicial system turned a blind eye because the Americas national security was dominant. Interestingly the people whose homes were ransacked did not even have weapons as expected and only three guns were found yet the people could not question the legality of their arrests. It is undeniable that numerous of anarchists and communist were rounded up by Palmer with the help of local law enforcement officials (Murray 82-90). House and the senate debated over the bills that provided draconian sanctions for the people who uttered seditious statements and Palmer believed that responding to public clamour for antiradical action would help in his presidential ambition. A number of sweeping took place in dozens of cities for a very long time as well as smaller raids in different parts of the country. According to Murray many people were arrested and taken into custody without charges and held for long hours (82-90). The Republican district attorney was trying to upstage democratic attorney general even though Palmer got the credit of wholesale assaults on civil liberties rounded up numerous communists both. Barkey explains that the Justice Department agents and some local police got into homes and meeting places where they comprehensively arrested everybody they found in sight (136-137). Some men arrested in Detroit were imprisoned fo r three to six days in dark windowless, narrow corridors where they slept on bare stone floors, bullied by police, derived of food and were only allowed one toilet. The people were denied communication link with their relatives or attorneys and were charged for attending a dance, class or that they ate at the House of the Masses. The Boston Justice Department chained together detainees and matched them along the streets where they were harassed by the hecklings of Americans. There were similar events in Pittsburgh where congregated foreigners were driven away by trucks. Initially, Palmer’s actions were warmly received and the media reported different views such as â€Å"Fighting Quaker of the Cabinet† Uncle Sam’s Policeman, the Rooter out of Reds†Ã¢â‚¬â„¢ a man who showed a quality of courage for practicing ideas and more other headlines that strongly supported palmer. Palmer presented lots of case against the Reds by asserting that communism was an alien criminal who put the nation into jeopardy. There were proposals that the US government should restrict immigration and supress extremists and that real Americans were not aliens as the anarchists (Murray 190-195). Barkey explains

Efficient Market Hypothesis Assignment Example | Topics and Well Written Essays - 1000 words

Efficient Market Hypothesis - Assignment Example Among the foremost to apply digital computers to perform empirical research in the field of finance, Fama operationally defined the EMH by pointing structure on several information sets accessible to market players. The efficient-market hypothesis necessitates that the agents should expect rationally that on average the overall population is correct (although if no individual is) and each time new pertinent information comes out, the agents should update their anticipations appropriately. Moreover, agents are not needed to be rational. EMH permits that on facing novel information, some investors may under react while some, on the other hand may over react. But, they are necessitated by EMH to react in a random manner that follows standard normal distribution. So, the overall impact on market prices may not be constantly exploited to attain more than usual profit, particularly, while keeping into consideration the transaction costs (including spreads and commissions). Therefore, any i ndividual may be perceived to be incorrect regarding the market but, market, on the contrary, as a whole is considered to be always correct. Three levels of hypothesis The efficient market hypothesis can be commonly stated in three basic forms. These include weak-form, semi-strong form and strong form efficiency. Each of these provides distinct implications for the way market performs. Weak-Form Efficiency This form of EMH specifies that current prices of assets reflect past volume and price information. The information incorporated in the past series of a security’s prices is completely reflected in its present market price. It is called as weak because the market price is the most accessible information available to individuals and the utilization of technical analysis is forbidden by this form of EMH. Semi-Strong Form Efficiency This form submits that entire available information to the public is incorporated into the prices of asset. Thus the market price of that asset is a complete reflection of all information accessible to the public. This publicly known information includes the past prices as well as the data reported by the company in its financial statements, announcement along with economic and other factors. The Strong-Form Efficiency This form implies that along with the publicly available information, the insider or private information is also reflected in an asset’s market price. Thus, such a market restricts the inside organization members from gaining unusual returns. Thus, all forms of EMH restrict individuals from attaining unusual returns due to unavailability of information and inhibit the possibility of arbitrage or risk free profit (Fama, 1991). Firm’s pricing of debt and equity decisions and EMH The 2007-2012 financial disaster has contributed to renewed criticism and scrutiny of the efficient market hypothesis. It has been even dismissed as being an ineffective way to study the functioning of financial markets in reality by various economists and financial analysts. Critics have proposed that corporations and financial institutions have the