Sippican Case

1 SIPPICAN CORPORATION CASE ANALYSYS 20229 Cost Management System 2 Executive Summary ? Company Overview ? Accounting method ? Production process ? Activities performed ? Q1. Should Sippican use a contribution margin approach? Explanation ? Q2. Capacity cost rates for resources ? Q3. ? a. Revised costs and profits ? b. Product costs and profitability analysis with the new allocation method. Cause of the shifts in values. ? Q4. What actions should the management take to improve Sippican’s profitability? 3 Company overview †¢ Sippican is a company manufacturing hydraulic control devices: alves, pumps and flow controllers †¢ Recent trends (March 2006) ? Valves: margin remained at standard 35% ? Pumps: Sippican’s main business, gross margin fell to 5% (below expect. 35%) ? Flow controllers: price increase by 10% with no effect on demand †¢ Issue Sippican had to react to competitors pumps price reductions to maintain volumes Decline in profitability: pre tax m argin to less than 2% 4 Competitive scenario Sippican †¢ High quality †¢ Unique design †¢ Loyal customer base †¢ Major supplier †¢ High volumes †¢ Commodities †¢ Major presence †¢ Customized †¢ Various typesIndustry Able to match Sippican’s quality, but no bids for market share with price cuts Sippican’sReaction Stable 35% gross margin Valves Pumps Price reduction Price reduction & consequent decline in profitability More production runs and shipments to meet demand + 10% Price increase w/o affecting demand Flow Controllers Much variety of types in the industry 5 Accounting method †¢ Simple cost accounting system , full cost method: ? DM costs= price of components (annual agreement) ? DL= 32. 5$/h (fringe benefits are included); charged on std run times for each product ?OH allocated as % of production-run DL cost (185% current OH rate) †¢ Variable costs are only DL and DM Meeting to consider the possibility of ado pting a contribution margin approach 6 Production process Purchase Machine Assembly ? A unique product department ? Same equipments and labor for all the 3 product lines ? Just in time Valves †¢ 4 components †¢ Standardized †¢ Large lots Pumps †¢ 5 components †¢ Standardized †¢ Products go to industrial distributors after assembly Flow Controllers †¢ Varied&customized: more components, more labor , more products runs 7 Activities Set up 2x 7. h/d shifts; 20 days per month †¢ each time batch components is machined in a production run †¢ 15 workers per shift (25% production workforce) †¢ †¢ †¢ †¢ †¢ 62 machines Workers simultaneously at more machines 45 workers per shift (production&assembly workers) 5,400$/month operating expense Productivity: 6 per shift Production run Receiving and production control †¢ Orderind, processing, inspecting, moving batch componetnts to production runs †¢ 75’ (regardle ss type of production run & components price) †¢ 4 people over the 2 shifts †¢ †¢ †¢ †¢ 50’ per shipment 8’ bubble wrap and pack 14 workers per shift (tot28) 7. h/d shift; 30’ training; 2Ãâ€"15’ breaks *Production& assembly workers: – 2x 15’ breaks 30’ training 30’ preventive mainteinance Packaging and shipping New product design and development †¢ 9750$/m compensation †¢ 7. 5h/d shift 8 Q1: Should executive adopt a contribution margin approach? Yes Costs-volumeprofits analysis No Variable costs:dm&dl significant contribution to oh Pricing decisions No account of all costs related to products Significant fixed costs JIT: no need to incorporate inventories NO: company cost structure significant fixed overhead costs and significant activities influencing the values of the final products the whole analysis will based on the contribution margin approach. The results which will be obtained will be influenced by the use of Time-driven ABC, with the right cost driver allocation to cost pools. It will make the difference for perfoming a more accurate analysis 9 Q2: Compute capacity rates for resources Hrs/month Monthly cost* Production workers 20 $3. 900 Indirect workers 20 $3. 900 Engineers 20 $9. 750 Machines 20 $5. 400 x Paid hrs 7,5 7,5 7,5 Productive hrs 6 6,5 6 12 ? Monthly hrs 120 130 120 240 Cost per hr $32,50 $30,00 $81,25 $22,50 DL Set up Machines Rec&Prod Pack&Shp Eng units 90 30 62 4 28 8 Monthly hrs 120 120 240 130 130 120 Hrs available Hrs used % Capacity used 10800 10700 99,07% 3600 3400 94,44% 14880 14600 98,12% 520 431,25 82,93% 3640 3483,33 95,70% 960 900 93,75% *given by the text Q2 Product data March 2006: 10 Product Lines Valves Pumps Flow Contr. DM units 4 5 10 DM cost 16 20 22 DL h/unit 0,38 0,50 0,4 Machine h/unit 0,5 0,5 0,3 Set up h/unit 5 6 12 Production Units Machine hrs (run time) Production runs Setup hrs(labor&machine) #of shipments Hrs engineerin g work Valves Pumps Flow Contr. 7500 12500 4000 3750 6250 1200 20 100 225 100 600 2700 40 100 200 60 240 600Total 24000 11200 345 3400 340 900 Actual quantities per activity: Activities Set up hrs Machine hrs Receiving& control hrs Packaging & Shipment hrs Engeneering hrs Pr Units x DLhrs Mhrs+set up hrs(machine) 75’/60) x production runs (50’/60’) x #ship + (8’/60’) x pr. Units Eng hrs Valves 2850 3850 25 1. 033,33 60 Pumps 6250 6850 125 1750 240 Flow contr 1600 3900 281,25 700 600 Total hrs used 10700 14600 431,25 3483,33 900 Q3 Valves Pumps Flow Controllers Tot $592. 500,0 $875. 000,0 $380. 000,0 $1. 847. 500,0 $212. 625,0 $453. 125,0 $140. 000,0 $805. 750,0 $120. 000,0 $92. 625,0 $250. 00,0 $203. 125,0 $88. 000,0 $52. 000,0 $458. 000,0 $347. 750,0 11 Q3. a: Revised costs and profits for the 3 product lines Revenues VC DM* DL* Contribution Margin TOH* Machine related expenses Setup labor Setup Machine R&P Control P&S Engeneering $379. 875,0 $421 . 875,0 $126. 499,0 $249. 374,1 $84. 375,0 $3. 250,0 $2. 250,0 $750,0 $30. 999,0 $4. 875,0 $140. 625,0 $19. 500,0 $13. 500,0 $3. 750,0 $52. 499,1 $19. 500,0 $240. 000,0 $253. 687,8 $27. 000,0 $87. 750,0 $60. 750,0 $8. 437,5 $21. 000,3 $48. 750,0 $1. 041. 750,0 $629. 560,9 $252. 000,0 $110. 500,0 $76. 500,0 $12. 937,5 $104. 498,4 $73. 25,0 Gross Margin GS&A Operating Income % Gross Margin * Cost allocation slide 11 $253. 376,0 $172. 500,9 -$13. 687,8 $412. 189,1 $350. 000,0 $62. 189,1 22,31% 42,76% 19,71% -3,60% 12 Cost Allocation: †¢ DM&DL: SQxSP Valves Prod. Units 7500 DM costs 16 DL costs 12. 35 Pumps 12500 20 16. 25 Flow Contr. 4000 22 13 †¢ OH: Activities Set up hrs Machine hrs Receiving& control hrs Packaging & Shipment hrs Engeneering hrs Pr Units x DLhrs Mhrs+set up hrs(machine) (75’/60) x production runs (50’/60’) x #ship + (8’/60’) x pr. Units Eng hrs Valves 2850 3850 25 1. 033,33 60 Pumps 6250 6850 125 1750 240Flow contr 1600 39 00 281,25 700 600 Total hrs used 10700 14600 431,25 3483,33 900 Capacity Costs Production workers 32,5 Indirect workers 30 Machines 81,25 Engineers 22,5 13 Q3. b Product costs and profitability with new cost assignment ? old cost assignment DL cost DM cost Man OH cost (185%) Std Unit cost Target selling price Planned gross margin Actual selling price Actual Gross margin Actual gross margin% Valves Pumps $12,35 $16,25 $16,00 $20,00 $22,85 $30,06 $51,20 $66,31 $78,77 $102,02 35% 35% $79,00 $70,00 $27,80 $3,69 35% 5% Flow C $13,00 $22,00 $24,05 $59,05 $90,85 35% $95,00 $35,95 38% ? new cost assignment:DL cost DM cost Man OH cost Std Unit cost Target selling price Planned gross margin Actual selling price Actual Gross margin Actual gross margin% Valves $12,35 $16,00 $16,87 $45,22 $78,77 43% $79,00 $33,78 43% Pumps $16,25 $20,00 $19,95 $56,20 $102,02 45% $70,00 $13,80 20% Flow C $13,00 $22,00 $63,42 $98,42 $90,85 -8% $95,00 -$3,42 -4% †¢ †¢ – Valves more profitable: 35%( old) vs (43%) No changes in expectations Lower cost allocated: less activities dedicated to their production(std products, large lots) Pumps No meet expectations, but still profitable 20% Lower cost allocated: less activities dedicated to their production (std products) – Flow controllers No profitable: -4% Higher cost: many activities and people used in their production Q3. B 14 †¢ The shift is caused by the Time-driven ABC method: – Costs are allocated to product lines which absorb more costs: more detailed and long production process for flow controllers †¦Ã¢â‚¬ ¦.. 15 Q4. What actions should the management take to improve Sippican’s profitability? Flow Controllers †¢ Flow controllers not profitable as expected $253. 87,8 $27. 000,0 $87. 750,0 $60. 750,0 $8. 437,5 $21. 000,3 $48. 750,0 †¢ High setup costs (148000) compared to the other overheads TOH* Machine related expenses Setup labor Setup Machine R&P Control P&S Engeneering Potential s olutions: – Impose a minimum quantity order to lower set up costs Gross margin -3,6 (how to convince customers to buy a minimum quantity? ) – Production process improvement, with lower set up times 16 Q&A

Diversity and Inclusion in Work with Children Essay

Equality, diversity and inclusion in work with children and young people Assignment 1 Within a school, equality, diversity and inclusion is very important. It is their duty to make sure all children have equal access to the curriculum. Whether they are a different race, culture, gender or have a special need or disability, it is important that they are supported and have a right to participate and be treated equal; this is known as inclusion. As part of this it is important that schools and other professionals support and promote cultural diversity in schools and the wider society, breaking down any discriminatory barriers to learning. (1. 2) In a school participation means that everyone has to be involved and this involves the inclusion of the children. The Government is committed to children’s rights and participation. Under Article 12 of the United Nations Convention on the Rights of the Child (UNCRC), children and young people have the right to express their views, and for these to be respected by adults when making decisions on matters that affect them. This means that the schools have to involve the children in the planning, delivery and evaluation of the curriculum on a daily basis, asking children what they think, what works and what they think could be better. Children should be given opportunities to express their opinion in matters that affect their lives. Effective participation gives children and young people the opportunity to make a positive contribution to their learning and to develop the skills, confidence and self-esteem they will need for the future. Every child has the right to access the curriculum, Equality of access. This means that children can work to the best of their ability and be treated equally within their learning. The schools have a duty to support these rights and they must be reflected through their policies and procedures and must comply with current legislations and codes of practice. The Equality Act 2010, UN Convention on the Rights of the Child 1989, Children Act 1989/2004, SENDA 2001 and SEN Code of Practice 2002 are the relevant legislations that give guidance on how to understand the children’s rights to participation and equality of access. Promoting participation and equal access makes sure that the school is meeting the 5 outcomes of ECM/HCAM and will therefore provide children with the best possible opportunities to to achieve to the best of their ability within the curriculum and their school life. (1. ) Cultural diversity provides a framework to bringing children together who would otherwise be naturally separated by cultural barriers. Pupil’s cultural development involves pupils acquiring an understanding of cultural traditions and an ability to appreciate and respond to a variety of aesthetic experiences. They acquire a respect for their own culture and that of others, an interest in other’s ways of doing things and curiosity abo ut differences. They develop the knowledge, skills, understanding, qualities and attitudes they need to understand, appreciate and contribute to culture. Schools have to promote cultural diversity and follow legislations relating to equality and discrimination, it is the law not to discriminate and this is set out in the Equality Act 2010. There are many ways that a school can promote acceptance and respect of different cultures throughout the school, this could be through teaching in the classroom where the pupils can explore varied cultural backgrounds, learning about celebrations that different cultures participate in for example multicultural festivals that take place different times throughout the year. Also many schools now have ‘welcome’ signs which are written in languages that pupils within the school speak, displays are also used with work of the children these are a brilliant way of showing the pupils understanding of others cultures and provides information for all within the school. All staff must act as role models and promote cultural diversity this helps reduce prejudice and discrimination and if staff are putting this in place then it will influence pupils to be tolerant of other cultures and with this helps the children understand the diverse society to which they belong. Pupils who understand cultural diversity will be more likely to participate and those of different cultures will feel more involved as they can help with the learning of their culture, with this it will help children in schools and outside in the wider society. In conclusion, schools who promote equality and inclusion through participation and a value of cultural diversity are encouraging children to ave respect for others and not to discriminate and promotes independence for the children. Children’s rights to equal access has to be supported by quality teaching, school policies and procedures. Children’s rights are protected by the law but if the schools follow the laws and provide the vital information through learning, children are more likely to respect others and appreciate their responsibilities to others.

Operative Report on Russell Jones

OPERATIVE REPORT Jones, Russell 8004320 Kurt Brockton, MD May 17, 2013 SURGEON: Kurt Brockton, MD PREOPERATIVE DIAGNOSIS 1. Primary hyperparathyroidism. 2. History of lung cancer. POSTOPERATIVE DIAGNOSIS 1. Primary hyperparathyroidism. 2. History of lung cancer. PROCEDURE Subtotal parathyroid resection. ANESTHESIA General. PROCEDURE IN DETAIL With the patient in the supine position after adequate prepping and draping of the neck, a standard collar incision was made. Hemostasis was obtained with a cautery. The platysma muscle was elevated from the underlying strap muscles to the thyroid notch superiorly and the sternal notch inferiorly.Strap muscles were dissected free of the midline. The right thyroid lobe was exposed. The middle thyroid vein was divided between three 0 silk ties. The gland was reflected anteromedially. Upon reflection of the gland there appeared to be an enlarged parathyroid gland attached to the lateral aspect of the lower pole. The gland was reflected more anterio rly, and the right upper gland was found posterior to the middle portion of the gland. The left thyroid gland was exposed, and the middle thyroid vein was divided between three 0 silk ties. The gland was reflected anteromedially.A right lower gland was found attached to or adjacent to the lateral aspect of the lower pole corresponding to the position of the lower gland on the right side. The gland was reflected more anteromedially, and the right upper gland was found on the posterior side of the midportion of the thyroid gland but not as medial as the one on the right side. Biopsies were taken of the left upper, left lower, and right upper glands. The right lower gland was removed in toto. The path report revealed the right lower gland to be an adenoma, and the remainder of the glands appeared normal.Only a small amount of parathyroid tissue was seen in the left upper gland, but the cut surface appeared to be parathyroid and bled as it would do. Hemostasis was obtained with a cauter y where necessary. Some Surgicel was placed over the cut end of the left upper gland. Strap muscles were then closed with 3-0 Vicryl, the OPERATIVE REPORT Patient Name: Jones, Russell Hospital No. : 8004320 May 17, 2013 Page 2 subcutaneous and platysma with 3-0 Vicryl, and the skin with skin staples. A dressing was applied. The patient tolerated the procedure well and was sent to the recovery room in stable condition. Kurt Brockton, MD

Moderate Sedation by K2N Assignment Example | Topics and Well Written Essays - 500 words

Moderate Sedation by K2N - Assignment Example As K2N points out, everyone will be brought up to the same level of education in Capnography readings and waveforms, and this will include a full listing of the training modules, including PowerPoints, which will be made available, presumably, on the center’s Intranet. K2N, however, does not present a specific initial method of disseminating the information, such as in a roundtable, for the initial overview. Center Leadership should always be included in the first output of dissemination of the information regarding the program, including the Financial Officer, who must make a financial determination of the cost in using this tool more often, and what it will cost to maintain it accordingly. Accordingly, if current staff members, who are already knowledgeable in how to use the apparatus, will be required to conduct the training, then a schedule may need to be designed to allow for such training, so no one person is teaching more than another one (Melnyk & Fineout-Overholt, 201 1).As K2N points out, everyone will be brought up to the same level of education in Capnography readings and waveforms, and this will include a full listing of the training modules, including PowerPoints, which will be made available, presumably, on the center’s Intranet. K2N, however, does not present a specific initial method of disseminating the information, such as in a roundtable, for the initial overview. Center Leadership should always be included in the first output of dissemination of the information regarding the program, including the Financial Officer, who must make a financial determination of the cost in using this tool more often, and what it will cost to maintain it accordingly. Accordingly, if current staff members, who are already knowledgeable in how to use the apparatus, will be required to conduct the training, then a schedule may need to be designed to allow for such training, so no one person is teaching more than another one (Melnyk & Fineout-Overholt, 2011). This plan looks to be a very promising addition to the function of the emergency department, albeit that there are some wrinkles that will need to be smoothed out before implementation. The plan, in dissemination of the information, is a bit vague, but implementation will be an important addition to the emergency department. There should also be a review after a certain number of weeks, maybe two, to determine how the program is working, relative to the success in the emergency department, and how finances are affected by the changes.  

Interprofessional team working in healthcare delivery Essay

Interprofessional team working in healthcare delivery - Essay Example For this research, the case that will be analysed is the Case of Tom. This case has been chosen because of the following reasons. First, it puts into question the concept of patient–centeredness. In concrete experiences of patients, what does patient-centeredness means? Is it simply a mantra that we continuously repeat, but do not act upon or is it a reality for some patients and not for all? Second, because of the vagueness of the idea of patient-centeredness, the case highlights the wide divide between health policy and health care plan and that no matter hard policy makers think of coming up with ways that may theoretically realise patient centeredness of health care if it is not implemented in real cases, it is worth nothing. Third, it brings to the fore the issue of decision-making in cases of patients that are incapacitated in making the decisions for themselves. Fourth, it emphasises the unclear position of parents in decision-making when it comes to their child who is vulnerated by multiple learning disabilities. Fifth, it presents a stark contradiction to the ideal of interprofessional teamwork to achieve the best quality health care that can be provided to the patients. Finally, sixth, it brings us back to the basics of humanity – rights, dignity, respect, and human integrity. With these reasons, it will focus on the concept of interprofessional teamwork. The idea of patient-centred is the core of health care plan and interprofessional teamwork in health care services. ... These are 1. The issues pertinent to the autonomy, integrity, and dignity of Tom. 2. The ethical concern regarding decision-making in cases where in the patient is incapacitated to make an autonomous decision. 3. The issue of double standards in care vis-a-vis neglect in providing care. 4. The ethical issue of duty of people who are primarily responsible in providing the necessary care for Tom’s condition and 5. The ethical issue of malfeasance as a result of the negligence of the primary health care providers of Tom. All of these ethical issues are manifested by the failure of the health care team to assess, address and treat the expressions of pain by Tom, which is repeatedly re-affirmed by his parents. In this failure, the entire team failed to recognise and respect the dignity and integrity of Tom as a patient (Gaskell & Nightingale 2010). Tom is in a vulnerated condition of profound and multiple learning disabilities, which places him in a constant situation wherein his d ignity and integrity as a person is injured. In this context, treatment should be made available and accessible indiscriminately (Kottow 2010). In his condition, dignity in disease should not be equated with ‘dignity in uprightness’, but it is a differing dignity where â€Å"it is not so important whether we are sick or healthy; what matters is to be sick in a healthy way, and not healthy in a sick manner. In the question of autonomy, it is apparent that Tom is incapable of making an autonomous decision. As such, in his behalf, his parents have consistently shown that they are advocating for their child. Beauchamp and Childress (2009) have explained that the norm in disregarding parental decision in terms of treatment is when the decision is refusal of treatment that is

Capstone Research Paper Example | Topics and Well Written Essays - 2250 words - 2

Capstone - Research Paper Example Other than this, by presenting the products at a competitive price, the reliability and loyalty of the customers enhanced over the organization of Wal-Mart that amplified its profitability and market share among other contenders (Wal-Mart, 2014). Apart from mission, the vision statement of Wal-Mart is to work in a coordinated way so as to lower the total cost of living of that target customers. Then, the customers might live a better life by spending lower amount on purchasing varied products. Such a vision proved extremely effective for Wal-Mart thereby expanding itself in more than 27 countries with over 11,000 stores. As a result of which, its total assets increased by US$ 204.751 billion in the year 2014. In addition, the objectives and views of both the internal and external stakeholders such as employees, board of directors, customers, suppliers and lenders are entirely similar to that of the mission statement of the organization of Wal-Mart. This means, the stakeholder’s desire to live a better life by paying less matches with organizational mission and so it acted as a boon for the organization by amplifying its opportunities and dominance. In addition, high respect and fair wage rate of the employees, also ac ted as another key factor that lead to the success of the organization in this age of competitiveness among others (Wal-Mart, 2014). Hence, it might be revealed from the above information that the vision and mission statement of the organization of Wal-Mart helped it to increase its strengths and opportunities that reduced its threats of substitute products, change of preferences of the customers etc. Bargaining power of the customers: the bargaining power of the customers is extremely high. This is mainly due to the presence of numerous rival players such as K-Mart, Dollar General, Lowe’s Food, CVS, Wal-greens and Sears etc. Therefore, in order to

Monopolies Essay Example | Topics and Well Written Essays - 500 words

Monopolies - Essay Example The demand curve of a monopolistic seller is the same as that of market demand, as the firm forms the entire industry. In the picture below (fig 1), the D represents the market demand for the product which is the same as the monopolistic seller’s demand curve. In a perfect competition, a particular seller takes up the price set by the market. Hence the demand is horizontal, in the case of this purely competitive seller. However, this line is determined by the market demand and supply curves. This difference in the demand curves of the two types of market structures is very significant. From fig. 1, it is clear that when the monopolistic seller raises the price of the product, the seller may lose some of its buyers. However, the firm will not lose its revenue. In the case of a purely competitive seller, the price is set by the market and hence any price above this will result in buyers switching to other sellers who offer the same product at the market price. All firms in any market maximise their profits when their marginal cost equals the marginal revenue (MR = MC). In the case of a purely competitive seller, the marginal revenue is the same as that of the firm’s demand curve. However, in the case of a monopoly, the marginal revenue curve falls twice as that of the firm’s demand curve (starting form the same point). Hence the marginal cost intersects the marginal curve at a very low value in the case of monopoly. Hence the monopolists maximise their profits by producing lower quantities at higher prices. The main phenomenon to be noted in the case of monopolistic demand curve is that, it is not typically purely inelastic. In the case of a purely inelastic demand, the demand for a product is not affected by the price changes at all. However in the case of a pure monopolistic seller, as said earlier, when the price is raised, the firm loses some of its buyers. The buyers generally buy a

International Contract jurisdiction hypothetical Essay

International Contract jurisdiction hypothetical - Essay Example breach of contract committed in Queensland, regardless of where the contract was made and whether or not the breach was preceded of accompanied by a breach...rendering impossible the performance of a part of the contract that ought to be performed in Queensland† (Uniform Civil Procedure Rules 1999 (124)(1)(i)). In this case, the rules probably will not give the court jurisdiction. The contract was not made in Queensland – the contract was executed in England. It also states that service is permitted if the contract is governed by the law of Queensland. The contract did not state which law governed, so this clause does not have effect. So, now the other two clauses must be examined – that service would be permitted if the breach of contract was committed in Queensland. Was the breach of contract committed in Queensland? Probably not. The breach occurred in England, as the consignment was packed in England, and the packing of the consignment was the cause of the damage. The other clause is that service is permitted when the contract is made by one or more parties carrying on business or residing in Queensland. The contract was executed by Global Freighting in England, and they do not reside in Queensland. However, they are carrying on business in Queensland, so this might be a basis for service. However, the term â€Å"carrying on business† is kind of vague – is it enough that Global Freighting made a contract with a Queensland company – would this be considered to be â€Å"carrying on business?† If this is not a basis for jurisdiction, then we need to look at other connecting factors. They are residence, domicile or presence of defendant in the courts jurisdiction (Akbarali v. Brent LBC). In this case, none of these connecting factors are present – defendant does not reside in Queensland, is not domiciled and has never been to Queensland. Therefore, connecting factors would not give Queensland jurisdiction either. Plus, the doctrine of

Features of population genetics Essay Example | Topics and Well Written Essays - 750 words

Features of population genetics - Essay Example Consequently, the species is more likely to become extinct if environmental conditions change, even minimally. One such virus that can induce genetic changes is the West Nile virus (WNv), and it has the capacity to change the genetic sequencing of animal species, predominantly birds. WNv can be passed to humans and other mammals via mosquitoes and causes mild to severe illness, and in some cases death. The investigators presented data that supported a phylogenetic conclusion that the MNv epidemic of North America already reached an epidemiological plateau. The conclusion that peak prevalence has been passed was based on the decline in the population growth of WNv in recent months. Snapinn et al.'s method of trying to quantify the emergence of MNv in the USA contrasts with that of previous research, such as Hull et al. (2006) and Naugle et al. (2004) who observed antibody rates of birds to identify the prevalence of WNv infection. The results for Hull's study showed that antibodies to WNv were found across all raptor groups across two geographical regions. This supports the conclusion that many of the wild raptors had survived a WNv infection. In contrast, Naugle and colleagues observed that their sage-grouse sample did not exhibit WNv antibodies, suggesting that the species lacks resistance to infection. For both studies it appears that the summer months are times of increased infections, perhaps due to the increase in mosquito populations. These conclusions were drawn from evidence of statically different antibody rates across summer and winter regions used in each sample. Method Statistical methods were used to track the WNv population, estimating a set of parameters; rate of evolutionary change; sequences divergence time; and rate of viral population growth. These factors were based on the changes observed in gene sequence data. This method of modeling estimates the level of new infections across all species that can be host to WNv. This is a reasonable conclusion given that a virus leaves an epidemiological 'history' on gene sequences.The limitation of this study was that the statistical estimates used a viral sample from only one species - birds (corvids and raptors), and from only one geographical region - northeastern USA. It may be that species differences affect the lifespan of the virus, and that such a narrow geographical sample does not reflect random sampling of the entire population (which exists across the entire nation), and so is not representative. There may be confounding variables such as climate, pesticides, food availability or predators that impact on the health of the birds in this region that make them more resistant to MNv. Such a case would be of interest in developing a vaccine to the virus, but does not illuminate the true state of affairs with regard to the population growth, stagnation or decrease of MNv.Hull's study drew plasma specimens from Red-tailed Hawks (Buteo jamaicensis), Red-shouldered Hawks (B. lineatus), and Cooper's Hawks (Accipiter cooperii) was Whilst Naugle and colleagues collected the serum of 112 radio-marked sage grouse (Centrocercus

Literature Review and Empirical Essay Example for Free

Literature Review and Empirical Essay From the early eighties to the nineties, the Standard Rate increased modestly, but is still below its mid-seventies level. While researchers have identified many reasons for the low UI recipiency rates over the past twenty years, many questions remain as to the causes behind the low rate and steps that policy and program officials might take to increase it. While the Standard Rate is the most commonly used measure to evaluate the effectiveness of the UI program, researchers have developed alternative UI recipiency rates to address some of the limitations of the standard measure. The standard measure is expressed as the ratio of the insured unemployed (i. e. , the number of regular UI claimants) to the total number unemployed. Alternative measures have been designed to better capture the effectiveness of the UI program by including the full range of UI programs available to the unemployed (beyond the regular program) and by more accurately defining the UI target population (a subset of unemployed workers). Purpose and Methodology The purpose of this report is to examine why the Standard Rate, as well as alternative recipiency rates, declined sharply in the early eighties and continued to remain well below their midseventies level in the early nineties. We critically reviewed the findings from the research literature to explore the factors others have identified to explain the drop in the UI recipiency rate. The literature review enabled us to identify factors for inclusion in our empirical analysis and to assess the effects of factors that could not be included in our own analysis. Our empirical analysis is based primarily on the methodology used by Burtless and Saks (1984) and focuses only on changes in the UI recipiency rate over recessionary periods. It is important to compare similar economic periods because the UI recipiency rate is higher during recessionary periods and lower during periods of economic expansion. We first replicated the analysis from Burtless and Saks, estimating the effects of various factors that influenced the rate used in their original analysis from the seventies recession (1975-76) to the eighties recession (1981-83). We then extended their earlier analysis by testing the effects of additional factors during that period. Next, we updated the analysis to include data from the most recent recessionary period in the nineties (1991-92). We chose the period in the nineties to be consistent with the periods of rising unemployment rates selected by Burtless and Saks. Finally, we extended their analysis by using the Standard Rate and two additional measures of UI recipiency selected to measure the performance of the UI programs during recessionary periods. Our conclusions about the effects of various factors on the UI recipiency rate are based on the findings from both the critical review of the literature and our empirical analysis. We also present evaluation design options to address some of the limitations of current knowledge. The Lewin Group, Inc. E-1 156059 Executive Summary C. UI Recipiency Rate Measures Four UI recipiency rate measures were selected for the empirical analysis. Standard Rate: number of weekly claims for regular program unemployment insurance benefits, as a proportion of all unemployed workers;1 All Programs Rate: number of weekly claims for all program (regular, extended and federal) unemployment insurance benefits, as a proportion of all unemployed workers; Standard Short-term Rate: number of weekly claims for regular program unemployment insurance benefits, as a proportion of job losers unemployed less than 27 weeks; and All Programs Job Loser Rate: number of weekly claims for all program (regular, extended and federal) unemployment insurance benefits, as a proportion of all job losers. The final three UI recipiency rates deviate from the Standard Rate by changing the definition of UI claimants, unemployed workers, or both. Because the All Programs Rate and the All Programs Job Loser Rate include all UI program claimants, Wandner and Stengle (1996) argue that they are generally better measures of UI coverage during recessionary periods when extended benefit programs are provided. The All Programs Job Loser Rate differs from the All Programs Rate because it targets a subset of unemployed workers (i. e. , job losers) who would be most likely to qualify for UI benefits. The Standard Short-term Rate only includes regular program claimants and the general â€Å"target population† for the regular state program, job losers unemployed less than 27 weeks. This final measure was used in the original Burtless and Saks analysis. All three alternative rates are larger than the Standard Rate because they use either a more expansive definition of UI claimants and/or a more restrictive definition of unemployed workers. From the seventies to the eighties, all four recipiency rates declined sharply (Exhibit 1). The largest reductions are for the All Programs Rate and the All Programs Job Loser Rate. These rates declined by more than the Standard Rate because of the large cutbacks in the extended benefit programs that were implemented in the early eighties. From the eighties to the nineties, the Standard Rate increased slightly. There is not, however, a large change in either the All Programs or All Programs Job Loser rates over this period, due to the small number of extended claimants. If, however, the analysis were extended to periods following March 1992, there would be an increase in both of these rates because of the extension of benefits through the Emergency Unemployment Compensation (EU3) program. 2 The Standard Short-term Rate follows the same general pattern as the Standard Rate, though there is a much sharper drop-off in the Standard Short-term rate in the early eighties that corresponds with fewer short term job losers receiving regular program benefits.

The Welfare Effects Of A Government Policy Economics Essay

The Welfare Effects Of A Government Policy Economics Essay For the purpose of this paper demand and supply analysis is used to show how it can be applied to a wide variety of economic problems. In the first section consumer and producer surplus is better defined and explained to understand the welfare effects of a government policy. In other words, consumer and producer surplus can evaluate who gains and who loses from a given policy, and also by how much. Also note that these two concepts of surplus can also be used to demonstrate the efficiency of a competitive market. In the sections to follow minimum prices, price supports, and related policies will be discussed in more detail. To assist the theory, demand-supply analysis will be used to understand and assess these policies. Consumer and Producer Surplus To understand consumer and producer surplus better the principles of price ceilings and floors will be discussed. As opposed to price floors, a government-imposed price ceiling means that the price is set at a lower level than the price in the prevailing market. Likewise, price ceilings will cause the quantity of a good demanded to rise. This happens because at lower prices consumers want to buy more. On the other hand, the quantity supplied will fall because producers are not willing to supply as much at lower prices. As a result of this a shortage will occur, which also indicates excess demand. Note that those consumers who can still buy the good will be better off because they now pay less. However, supply will fall, forcing producers to provide less of their goods. The following section provides a more detailed explanation of the welfare gained or lost by both consumers and producers, should certain prices be imposed. For the purpose of this section the assumption follows that consumers and producers buy and sell at the prevailing market price in an unregulated, competitive market. However, for some consumers the value of the good in question exceeds the prevailing market price. This also means that the consumer would be willing to pay more for the good if it was expected. Therefore, consumer surplus is the total benefit that consumers receive beyond what they pay for the good (Pindyck and Rubinfeld, 2005:300). For example if the market price of a product is R7, but the consumer is willing to pay R10 for it, then his net benefit will be R3. Consumer surplus can also be explained with the assistance of demand and supply curves. In this respect consumer surplus can be interpreted as the area between the demand curve and the market price. Pindyck and Rubinfeld (2005:300) also states that consumer surplus measures the net benefit to consumers in the aggregate, therefore, this analysis can be used to better understand the gains or losses induced from government interventions. On the other hand, producer surplus is the equivalent measure for producers (Pindyck and Rubinfeld, 2005:301). If goods were to be produced at a price lower than the market price, then more could be produced. Therefore, producers will enjoy a benefit, or rather a surplus, from selling those units. This surplus is the difference between the market price the producer receives and the marginal cost of producing the units. It can also be better explained as the area above the supply curve up to the market price. Essentially consumer and producer surplus is used for economic analysis to evaluate the welfare effects of a government intervention in the market. It assists with anticipating who will gain or lose from the intervention, and also by how much. To do so the concepts of price ceilings and price floors will be explained in more detail. Price Ceilings Price ceilings occur when production (supply) is decreased and the quantity demanded is increased (Pindyck and Rubinfeld, 2005:301). Price ceilings tend to cause excess demand, or rather shortages, to occur. Figure 1: Graphical Presentation of a Price Ceiling The following section provides a theoretical explanation of Figure 1 and the effects of price ceilings on consumers and producers respectively: Consumer Surplus (Pindyck and Rubinfeld, 2005:302; and Perloff, 2005:274, 296, 297): Consumers are better off as they can buy the good at a lower price. Thus, the consumers that still buy the good enjoy an increase in consumer surplus, which is resembled by rectangle A. On the other, those consumers who can no longer buy the good lose surplus. Their loss is represented by triangle B. Therefore, the net change in consumer surplus which is a positive result is: à ¢Ã‹â€ Ã¢â‚¬  CS = A B Producer Surplus (Pindyck and Rubinfeld, 2005:303; and Perloff, 2005:278, 280, 297): With price controls, some producers will stay in the market but will receive a lower price for their output. Thus, they have lost the producer surplus represented by rectangle A. Other producers may however leave the market. This means that total production will also drop, which is represented by triangle C. Therefore, the change in producer surplus, which is a negative result, is: à ¢Ã‹â€ Ã¢â‚¬  PS = (-A) C Deadweight Loss (Pindyck and Rubinfeld, 2005:304; and Perloff, 2005:280, 281): Price controls will result in a net loss, which is also referred to as deadweight loss. Therefore, combining the change in both consumer and producer surplus will bring along a total change in surplus as follows: Deadweight Loss = (A B) + [(-A) -C] = (-B) C In essence, deadweight loss results in an inefficiency caused by price controls. In summation, a price ceiling is that price held below the prevailing market price. It merely means that too little is produced and, at the same time, that consumers and producers in the aggregate are worse off (Pindyck and Rubinfeld, 2005:306; and Mohr, 2004:162, 163). Price Floors In contrast to price ceilings, price floors indicate what happens when government requires for the price to be above the market price. Although producers would like to produce more at this higher price (indicated on the supply curve at P2) consumers will now buy less. If we assume that producers only produce what can be sold, then the market output level will be at Q1. Once again there is a noted net loss of total surplus (Pindyck and Rubinfeld, 2005:306, and Perloff, 2005:293): Triangles B (a loss of consumer surplus) and C (a loss of producer surplus) represents the deadweight loss. Rectangle D represents the transfer from consumers to producers, who now receive a higher price. Figure 2: Graphical Presentation of a Price Floor In fact, the deadweight loss gives an optimistic assessment of the efficiency cost of policies. The reason for this assumption is that some producers may still however increase prices after the price floor have been incorporated. This would, in turn, result in unsold output. However, should the producer receive more importance with regard to applicable policies, then government might buy up the unsold output to maintain production at Q0. In both cases, the total welfare loss will exceed the areas of triangles B and C (Pindyck and Rubinfeld, 2005:307). The Efficiency of a Competitive Market As discussed already, consumer and producer surplus can be used to evaluate economic efficiency in the aggregate. In the previous section it was shown how price controls create a deadweight loss. Thus, the policy imposes an efficiency cost on the economy (Pindyck and Rubinfeld, 2005:306). Both consumer and producer surplus are reduced by the amount of the deadweight loss. This does not mean that such a policy is bad. It may however achieve other objectives that policymakers and the public consider important. Many researchers argue that if the only objective is to achieve economic efficiency, then a competitive market would be better left alone. This means that no interventions should occur. However, in some cases market failure will occur because prices fail to provide the proper signals to consumers and producers. Also, the unregulated, competitive market could be inefficient. These indications of market failure may occur because of two instances (Pindyck and Rubinfeld, 2005:306): Externalities: Sometimes the actions of either consumers or producers will result in a cost/benefit that does not show up as part of the market price. Such a cost/benefit can also be referred to as externalities because they are external to the market. An example of this is the cost to society of environmental pollution by a producer of industrial chemicals. Lack of Information: When consumers lack information about the quality or nature of a product and can therefore not make a utility-maximising purchasing decision. If these two instances (externalities and/or the lack of information) are absent in a market then that unregulated, competitive market will essentially have no obstacles, and an economically efficient output level can be reached. Minimum Prices For the purpose of this section we will refer back to Figure 2. From the graph we can see that if producers can correctly anticipate that they can sell only the lower quantity Q1, then the net welfare will be given by triangles B and C. However, as mentioned before, producers may not limit their output to Q1. Incorporating Figure 2 to illustrate minimum prices, the following notations has to be made (Pindyck and Rubinfeld, 2005:310): P2 denotes a minimum price set by the government. Q2 denotes the quantity supplied, and Q1 denotes the quantity demanded. The difference between Q1 and Q2 represents excess supply, or rather, unsold supply. Therefore, Consumer Surplus (Pindyck and Rubinfeld, 2005:310): Those consumers who still purchase the good must now pay a higher price (Rectangle D). Some consumers will also drop out of the market (Triangle B). Therefore, consumer surplus remains the same as before and indicates that consumers are actually worse off as a result of this policy: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B Producer Surplus (Pindyck and Rubinfeld, 2005:311): Producers, on the other hand, receive a higher price for the units they sell, which results in an increase of surplus (Rectangle D). Rectangle D can also be better described as the transfer of funds between consumers and producers. But, the drop in sales from Q0 to Q1 actually results in a loss of surplus which is represented by triangle C. Also remember that the supply curve is a representation of the additional cost of producing each incremental unit. Thus, the area under the supply curve from Q1 to Q2 is the cost of producing quantity Q2 less Q1. This area is represented by trapezoid E. Unless producers respond to unsold output by cutting production, the total change in producer surplus will be: à ¢Ã‹â€ Ã¢â‚¬  PS = D C E Minimum prices is merely one of the ways to raise prices above the prevailing market level through the direct intervention and regulation of the government simply make it illegal to charge a price lower than a specific minimum level. As a result, this form of government intervention can reduce producers profits because of the cost of excess production. Another example of this is a minimum wage law. In other words, a wage rate at a level higher than the market price will result in those workers who can find jobs and earn a higher payoff. However, some people who want to work will be unable to, which will result in a policy that brings about unemployment (Pindyck and Rubinfeld, 2005:311). Price Supports and Production Quotas Besides imposing a minimum price, the government can also increase the price of a good in other ways. In agricultural policy the system is mostly based on price supports, but prices can also be increased by restricting production, either directly or through incentives to producers (Pindyck and Rubinfeld, 2005:314). In this section these policies will be examined in more detail as to show how consumers, producers and the government budget are affected. Price Supports: In general, price supports aim to increase the prices of dairy products, tobacco, peanuts, etc. This is done with the intention that the producers of these types of products earn higher incomes. This basically entails that the government sets the supporting price and then buys up whatever output is needed to keep the market price at this level. The resulting gains/losses will be as follows: Figure 3: Government Price Supports Consumers Surplus (Pindyck and Rubinfeld, 2005:315): At price P2, the quantity demanded falls to Q1, and the quantity supplied increases to Q2. To maintain this price and avoid inventories having to pile up, the government must buy the quantity Qg = Q2 Q1. Because the government adds its demand to the demand of the consumers, producers can sell all they want at price P2. Therefore, the consumer surplus will be calculated in the same way as with minimum prices: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B Producers Surplus (Pindyck and Rubinfeld, 2005:315): Price support policies are implemented with the intention to increase the gains that producers receive because producers are now selling a higher quantity (Q2) at a higher price (P2). Therefore producer surplus will be as follows: à ¢Ã‹â€ Ã¢â‚¬  PS = D + B + F Government Welfare (Pindyck and Rubinfeld, 2005:315): However, there is also a cost to government, which in essence is paid for by taxes. Thus, ultimately this is actually a cost indirectly related to consumers. This amount is represented by the rectangle that makes up BCEFG. This cost may be reduced if the government can dump some of its purchases, for example, selling them abroad at a low price. However, doing so hurts the ability of the domestic market to sell in foreign markets. The total welfare cost of this policy could be defined as: à ¢Ã‹â€ Ã¢â‚¬  CS + à ¢Ã‹â€ Ã¢â‚¬  PS Cost to Gov = D (Q2 Q1)P2 If the objective is to give producers an additional income equal to D + B + F, it is far less costly to society if government were to give them this money directly rather than via price supports. This can be supported by the fact that price supports are costing consumers D + B anyway. If government pay producers directly, then society will save the large rectangular area BCEFG less triangle F (Pindyck and Rubinfeld, 2005:316). However, price supports are in use most likely because they are a less obvious giveaway and, therefore, politically more correct. Production Quotas: The government can also cause the price of a good to rise by reducing supply. Government can do this by setting quotas on how much each firm can produce. With appropriate quotas, the price can then be forced up to any arbitrary level. An example of this could be the control of liquor licenses by the government. By requiring any bar or restaurant to have a liquor license and, at the same time limiting the number of licenses, will result in limited entrants into that market. This also allows those with licenses to earn higher prices and profit margins. The welfare effects of production quotas will be explained in the following section (Pindyck and Rubinfeld, 2005:317): The government restricts the quantity supplied to Q1, rather than at the market level of Q0. Thus the supply curve becomes the vertical line S at Q1. As a result consumer surplus is reduced by rectangle D plus triangle B. On the other hand, producers gain rectangle D less triangle C. Thus, once again, there is a deadweight loss that occurs which is represented by B + C: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B à ¢Ã‹â€ Ã¢â‚¬  PS = D C + (Payments for not producing) However, the cost to the government is a payment sufficient enough to give producers an incentive to reduce output to Q1. That incentive must be at least as large as (B + C + F), because that area represents the additional profit that could have been made if the quota was not applicable. Also remember that the higher price (P2) give producers incentive to produce more even though the government is trying to get them to produce less. Thus, the cost to government is at least B + C + F and the total change in producer surplus is: à ¢Ã‹â€ Ã¢â‚¬  PS = D C + B + C + F = D + B + F à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-D) B + D + B + F B C F = (-B) C Figure 4: Supply Restrictions via Production Quotas This is the same change in producer surplus as with price supports therefore, producers should in essence be indifferent between the two policies because they end up gaining the same amount of money from each. Likewise, consumers end up losing the same amount of money (Pindyck and Rubinfeld, 2005:318). It can also be noted that, once again, the society will clearly be better off in efficiency terms if the government simply gave the producers (generally in the agricultural sector) D + B + C, leaving price and output alone. Producers would then gain D + B + C and the government would lose this profit for a total welfare change of zero, instead of a loss of B + C. However, economic efficiency is not always the objective of government policy. Import Quotas and Tariffs Many countries use import quotas and tariffs to keep the domestic price of a product above world levels and thereby enable the domestic industry to enjoy higher profits than it would under free trade. However, the cost to taxpayers from this protection can be relatively high. Without a quota or tariff, a country will import a good when its price is below the price that would prevail domestically, were there no imports (Pindyck and Rubinfeld, 2005:321, 322; and Perloff, 2005:298, 299). Figure 5: The Affect of an Import Tariff/Quota on Imports S and D represent the domestic supply and demand. Because the world price (P1) is below domestic demand and supply, it gives domestic consumers an incentive to purchase from abroad if imports are not restricted. If that is the case then domestic price will fall to the world price at P1. At a lower price, domestic production will fall to Q1 and consumption will rise to Q2. So imports will be the difference between domestic consumption and production (Q2 Q1). Now suppose the government, bowing to pressure from the domestic industry, eliminates imports by imposing a quota or a tariff at Q0. This will forbid any importation of the good in question. With no imports allowed the domestic price will rise to P0. Consumer Surplus: As a result, consumers who still purchase the good will now pay a higher price and will lose the surplus represented by trapezoid A and triangle B. In addition, some consumers will no longer buy the good which results in a further loss represented by triangle C. Therefore, the total change in consumer surplus will be: à ¢Ã‹â€ Ã¢â‚¬  CS = (-A) B C Producer Surplus: In concern with producers, output is now higher (Q0 instead of Q1). Output is also sold at a higher price (P0 instead of P1). Producer surplus therefore increases by the amount of trapezoid A: à ¢Ã‹â€ Ã¢â‚¬  PS = A à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-B) C Combining both à ¢Ã‹â€ Ã¢â‚¬  CS and à ¢Ã‹â€ Ã¢â‚¬  PS to obtain the total welfare effect merely indicates once again that there is a deadweight loss. This loss indicates that consumers lose more than what producers gain. Imports could also be reduced to zero by imposing a sufficiently large tariff. The tariff would have to be equal to or greater than the difference between P0 and P1. With a tariff of this size there will be no imports and, therefore, no government revenue from tariff collections. Thus, the effect on consumers and producers would be the same as with a quota (Pindyck and Rubinfeld, 2005:323). However, government policy is more often designed to reduce, but not eliminate, imports (as shown in Figure 6. Again, this can be done with either a tariff or a quota (Pindyck and Rubinfeld, 2005:323; and Perloff, 2005:300, 301): When imports are reduced, the domestic price is increased from P1 to P0. Trapezoid A is again the gain to domestic producers. The loss to consumers is A + B + C + D. Thus, if a tariff is used, the government will gain rectangle D, the revenue from the tariff. Therefore, the net domestic loss will be B + C. If a quota is used instead, then rectangle D becomes part of the profits of foreign producers, and the net domestic loss will be B + C + D. Figure 6: The General Case with an Import Tariff or Quota The Impact of a Tax or Subsidy The burden of a tax (or the benefit of a subsidy) falls partly on the consumer and partly on the producer. In this section it will become clear that the share of a tax accepted by consumers depends on the shapes of the demand and supply curves and, in particular, on the relative elasticities of demand and supply (Pindyck and Rubinfeld, 2005:326). The Effects of a Specific Tax A specific tax can be better defined as a tax of a certain amount of money per unit sold. This is in contrast to an ad valorem tax which is a proportional tax. However, the analysis of an ad valorem tax is roughly the same and yields the same qualitative results (Pindyck and Rubinfeld, 2005:326). Examples of specific taxes are sin taxes on cigarettes and liquor. Suppose the government imposes a tax of t cents per unit. This means that the price the buyer pays must exceed the price the seller receives by t cents. Figure 7 illustrates this accounting relationship and its implications (Pindyck and Rubinfeld, 2005:326): Figure 7: The Effects of a Specific Tax Here, P0 and Q0 represent the price and quantity before the tax is imposed. Pd is the price that buyers pay and Ps is the price that sellers receive after the tax is imposed. Therefore, Pd Ps = t. Here the burden of a tax is split evenly between buyers and sellers. Buyers lose A + B, while sellers lose D + C. On the other hand, the government earns A + D in revenue. Thus, the deadweight loss is once again B + C. The solution is therefore to find the quantity that corresponds to a price of Pd and Ps so that t = Pd Ps. This quantity is shown as Q1. As seen from Figure 8, the burden of the tax is shared roughly evenly between buyers and sellers. It can also be stated that the price that buyers pay rises by half of the tax, and the price that sellers receive falls by roughly half of the tax. As Figure 7 and 8 shows, market clearing requires four conditions to be satisfied after the tax is in place (Pindyck and Rubinfeld, 2005:327, 328). These four conditions can also be written and distinguished as four different equations that must always be true: The quantity sold and the buyers price must lie on the demand curve, because buyers are interested only in the price that they must pay. Qd = Qd(Pd) The quantity sold and the sellers price must both lie on the supply curve, because sellers are only concerned with the price they are to receive. Qs = Qs(Ps) The quantity demanded must equal the quantity supplied (Q1). Qd = Qs The difference between the prices of buyers and sellers must equal t. Pd Ps = t There is a change in consumer and producer surplus, as well as in government revenue can be summarised as follows (Pindyck and Rubinfeld, 2005:328; and Perloff, 2005:289, 290): à ¢Ã‹â€ Ã¢â‚¬  CS = (-A) B à ¢Ã‹â€ Ã¢â‚¬  PS = (-C) D à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-A) B C D + A + D = (-B) C From the above information we have seen that the burden of a tax is shared almost evenly between buyers and sellers, however, this is not always the case. If demand is inelastic and supply is relatively, then the burden of the tax will fall mostly on the buyer. Demand will work in the opposite way. It can also be determined if the burden of a tax falls more on the buyer or the seller (Pindyck and Rubinfeld, 2005:328): Pass-through fraction (Buyer) = Ed / (Es Ed) This equation thus stipulates what fraction of the tax is passed-through to consumers (buyers) and producers (sellers) in the form of higher prices. So, if the demand is totally inelastic (when Ed = 0) so that the pass-through fraction is 1, then all the tax is borne by the consumers (Pindyck and Rubinfeld, 2005:328). Similarly, when demand is totally elastic, the pass-through fraction is zero and producers bear all the tax. Therefore, the equation basically indicates that a tax falls on the buyer if Ed / Es is small, and on the seller if Ed / Es is large. The Effects of a Subsidy A subsidy can be analysed in much the same way as a tax. In fact, a subsidy can be better defined as a negative tax. With a subsidy, the sellers price exceeds the buyers price and the difference between the two is the amount of the subsidy. Thus, the effect of a subsidy on the quantity produced and consumed is the opposite of the effect of a tax, which also means that the quantity will increase (Pindyck and Rubinfeld, 2005:329). Figure 8: The Effects of a Subsidy In general, the benefit of a subsidy accrues mostlyto buyers if Ed / Es is small, and to sellers if Ed / Es is large. Also, the same four conditions needed for the market to clear, apply for a subsidy as it did for a tax. The only difference is that now the difference between the sellers price and the buyers price is equal to the subsidy (Pindyck and Rubinfeld, 2005:329): Qd = Qd(Pd) Qs = Qs(Ps) Qd = Qs Ps Pd = s Conclusion From this paper the evidence shows that simple models of demand and supply can be used to analyse a wide variety of government policies. These include price controls, minimum prices, price supports, production quotas, import tariffs and quotas, and taxes and subsidies. In each case, consumer and producer surplus are used to evaluate the gains and losses to consumers and producers. These gains and losses can be quite large. Evidence have also indicated that when the government imposes a tax or subsidy, price usually does not rise or fall by the full amount of the tax or subsidy. Also, the incidence of a tax or subsidy is usually split between consumers and producers. The fractions that each group ends up paying/receiving depend on the relative elasticities of demand and supply. It is important to remember that government intervention generally leads to a deadweight loss, even if consumer and producer surplus is weighted equally. In some cases this deadweight loss will be small, but in other cases (price supports and import quotas) it is large. This deadweight loss is a form of economic inefficiency that must be taken into account when policies are designed and implemented. In summation, government intervention in a competitive market is not always bad. Government, and the society it represents, might have objectives other than economic efficiency. There are also situations in which government intervention can improve economic efficiency. Examples are externalities and cases of market failure.

Models of Age and Disability

Models of Age and Disability Aging and disability Sonia STRENGTH BASED MODEL:- Strengths based practice is an approach to support that has a strong focus on the identification of people’s abilities, interests and capabilities and on their strengths and potential. Strengths based practice is largely founded on the work of Charles Rapp from the United States who founded the strengths model in relation to case management within the mental health sector. The main objective of this model is to analysis the health problems and issues of a client, support to a person in an appropriate way, find the needs of a client and the weaknesses of a client. More focus on the strengths of an individual. STRENGTHS:- Focus on the health and well-being of an individual It focuses on the client’s interests, skill and support systems. Identify the needs of an individual. Improve the quality of life. Builds the self-esteem and sense of competition WEEKNESSES:- Unrealistic goals. About only positive things. The weakness of the strength based model is that existing and potential abilities became the basis of classification and not the aspirations of individual. It is sometimes difficult to establish individual aspirations since it requires effective communication and not readily assessable. Many critics of the strength based approach points out the limitation to which abilities define the capability of the person to participate in the community. ASSESSMENT:- It focuses on people’s abilities and resiliencies and set their own goals, ambitions and solutions to difficult situations. Individual strengths and resources such as their passions, skills and interest in their relationships and environments. The goal of a comprehensive needs assessment is to determine an individual’s current abilities, resources, goals and needs. PLANNING:- Set their goals. Specific methods for setting up individual goals. Make a plan how to achieve their goals. Supports goals with resources from the individual and environment. CO-ORDINATION:- Improve availability, access and adaption of resources in the community. Professional/carer link up individual with available environment. The weakness of the strength based model is that existing and potential abilities became the basis of classification and not the aspirations of individual. It is sometimes difficult to establish individual aspirations since it requires effective communication and not readily assessable. Many critics of the strength based approach points out the limitation to which abilities define the capability of the person to participate in the community. Case Management Model In this model an imparted procedure of evaluation, arranging, assistance and promotion for choices and administrations are utilized to meet a customers all encompassing wishes through correspondence and existing assets to empower quality expense – successful results. This model has been utilized within an extensive variety of environment which incorporates however is not restricted to group administer to the matured, and individuals with inability and mental wellbeing issues. It requires an association to convey a far reaching scope of administrations based on the full appraisal that is utilized to create an administration plan. This model likewise concentrates on the decisions and inclination of the customers and the arrangement is produced upon it. Case administrators make arrangements and expert exercises that spill out of specific setting, project and customer populace. Normally center procedures to case administration are as per the following: screening, evaluation/hazard administration, forethought arranging, executing administrations course of action, observing, checking/assessment and promotion. Assessment There are a couple of similarities between the case administration model and the quality based model as it both respects the needs of the customers. On the off chance that organization show the essential focus is in the preoccupations of the customer as the case administrators urge the customers to go to relative activities and develop it so the inspiration driving the treatment is accomplished in the midst of gathering time. This model in like manner looks on the customers ability to do things in some degree and will endeavor to keep up their way of life however much as it can as they had it before the contamination and keep an element identity and bodies to the degree that could sensibly be required to help in the headway of the treatment. On the other hand there are various potential blocks in this model as the customers wellbeing may lessen due to wellbeing condition and poor environment conditions. Likewise the game plan will need to be changed in view of the conditions went up against by the customers and questionable circumstances. Planning The plan in this model is usually fixed unlike in strength based model because the client’s hobbies and preference are fixed and stable. Therefore the plan will be made for a long term goal to be achieved and it hardly be changed and the plan is not very detailed, it’s just as optional orientation. Coordinating In this model the coordination is between the case manager and the client as well as the relationship between other clients who participate in the same activity. Other consideration should be given to such as the client’s physical ability, elements like economy, climate, and etc. therefore the arraignments should be made in advance. Strengths and weaknesses of the case Management model This model is not difficult to be executed as it is focused around the necessity of the clients exercises as per their hobbies. It is great instrument to use to create both the psyche and the physical improvement of the client. The shortcoming of this model is that it could be effortlessly affected by the components like instability of the atmosphere and general physical state of the client and whatever possible individual issues on the clients part. Additionally this model cant be upgraded as it comes and it can influence the clients wellbeing and lessening the wellbeing state of the client. About whether as the clients wellbeing abatements a period will come when the client wont have the capacity to take an interest in the exercises as the arrangement is not being changed as per the advancement of the client. Perspective o the disability people It is one of the easiest models to use and it can be carried out easily in the client’s life because it is based on the client’s hobbies and preferences. This model will be continuingly developed during the practice in reality. It plays an important role in the recovery or dealing with the disabled people. The potential of the client will be found during the process of the treatment so there is a bright future of this model. Summary of the expected outcomes for the disabled In this model the clients life is intriguing notice satisfied than before as it focused around the distractions and the inclination of the client. It additionally creates the mental piece of the client. This model can additionally be utilized to make plans to the active recuperation. Then again this model will make the clients rely on upon the others for backing as it wont support clients in discovering an occupation to get by upon. Comparisons of the two models The quality built model primarily centers with respect to the customers qualities and capacities and makes an arrangement based upon that while case administration model concentrates on the leisure activities and inclination of the customers and sways them to go to relative exercises so the motivation behind the treatment is accomplished amid the group time. Then again case administration model is a bit like the quality based models as it both regards the needs of the clients. At the point when contrasting the arrangements in the models, the arrangement in the event that administration model is altered upon customers side interests and inclination though in quality based model the arrangement progressions as indicated by the advancement of the treatment. There are contrasts in the coordination part also. The quality based model will require a high coordination between the customer and case director while the case administration model obliges a decent coordination between the customer , case supervisor and alternate customers who are taking an interest in the movement. Customers with a mental objective can utilize quality based model and customers with physical needs can utilize case administration model.

Brown vs. Board: The Brown Sisters Speak :: papers essays

Brown vs. Board: The Brown Sisters Speak I remember heading over to Foellinger Auditorium with Jessica saying to myself, I have no clue what this event was going to be all about. All Jessica had said to me was that the Brown sisters were going to be speaking. We entered the auditorium to find the first floor surprisingly alive with people talking among each other and seats quickly becoming full. We decided that it would be better to observe from above so we took the stairs up to the balcony and found seats right along the edge. From above, I could see the many people who came out for the event. The crowd contained many scholars and professors as well as a good group of students. I received a call from my friend, who spotted me from her seat in the first floor. She said that she was there to take notes for a class assignment as well. So, I think many students were also there because, just like, had an assignment to accomplish. It was at this point that I had finally put two and two together and realized that the Brown sisters were the daughters of the Reverend Oliver Leon Brown, who is the same person involved in the infamous Brown v. Board case. Jessica laughed at me for my slowness. I, however, began to get excited because this was truly rare and special occasion. I had wished that more people attended the event but looking at the crowd a second time, I was pleased to see the varying ages of the people in the crowd. There were people that looked older than the Brown sisters to young grade school students who came in as a class. Somehow, we were all connected because in one way or another, whether we are young or old, the decision that was passed down by the Supreme Court on Brown v. Board changed many lives. There were many things said by the Brown sisters that ranged from the historical context of the case to what it did for their lives. But one quote stood out in my head, and it was made by Dr.

Essay example --

Fetal Alcohol Syndrome through Minority Populations Prevalence of this problem is to understand if there is a safe or acceptable level of alcohol consumption for pregnant women and to understand the role of culture with these issues. Culture refers to a scheme of living in a particular environment that have evolved among a particular group of people and transmitted within and between generations. Darwin believes that environmental pollutants cause epigenetic changes natural selection or survival of the fittest to the genetics shaping human pregnancy and the risks of babies developing diseases in the next generation. Ones we learn to see culture as dynamic rather than static we will understand the ecological context. Watson and Bandura hold similar philosophy, at best, conceptualized culture as a tool kit from which strategies for action drawn from specific purpose, poverty (Sigelman & Rider, 2013, 2009). There are several reasons for the uneasiness evoking cultural explanations, first being, to those who construe culture as a distinctive product of a particular group of people, culture can be described and interpreted because such explanations cannot be considered objective. Second, conceptual, and methodological issues that confront scientists who are will to consider culture as an explanatory variable. It is difficult to define culture, conceptually and operationally, even when its different components. Disaggregated into it is various components. Even when precise definitions are possible, social variables operate in a highly complex context, often interacting with a host of other influential variables such that it is difficult to isolate is effect. Finally, there are cultural sensitivities to consider. A search fo... ... alcohol dependence: Obstetricians and gynecologic implications, 496. (2011). Reaffirmed 2013. Retrieved January 13, 2014, from http://www.acog.org/Resources_And_Publications/Committee_Opinions/Committee_on_Health_Care_for_Underserved_Women/At-Risk_Drinking_and_Alcohol_Dependence_-_Obstetric_and_Gynecologic_Implications Hand, L. (2013). Fetal alcohol syndrome:Prevalence high in child care systems. Retrieved January 13, 2014, from http://www.medscape.com/viewarticle/810622 May, P. A., & Gossage, J. P. (2001). Estimating the prevalence of fetal alcohol syndrome: A summary, 25, 3, 159-67. Retrieved January 15, 2014, from https://login.libproxy.edmc.edu/login?url=http:/search.proquest.com.libproxy.edmc.edu/docview/222393485?accountid=34899 Sigelman, C. K., & Rider, E. A. (2013, 2009). Life-span human development (7th ed.). Belmont, CA: Wadsworth, Cengage Learning.

Study of Maruti Suzuki Alto

SDM INSTITUTE FOR MANAGEMENT DEVELOPMENT| STUDY OF MARUTI SUZUKI ALTO SDM IMD| REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF POST GRADUATE DIPLOMA IN MANAGEMENT| | | Submitted to, Dr. H GAYATHRI Submitted by, Anuja Rani (12128) Harish K P (12140) Namratha Subramani (12152) Roshan V Shetty (12158) Sriharsha V (12170) Contents ACKNOWLEDGEMENT3 INDIAN AUTOMOBILE INDUSTRY4 Historical Background4 Trends in Production6 Drivers of Indian Auto Industry8 Growth forecasts for Indian auto industry10Current industry scenario10 MARUTI SUZUKI INDIA LIMITED12 VISION13 Manufacturing Excellence13 Maruti Suzuki and Motor Sport14 FINANCIAL PERFORMANCE OF MARUTI SUZUKI INDIA LIMITED14 SALES AND SERVICE NETWORK16 ALTO – Let’s GO19 Alto Variants19 SALES GROWTH OF MARUTI ALTO20 STUDY OF ALTO IN THE CONTEXT OF MARKETING21 SWOT ANALYSIS21 STRENGTHS21 WEAKNESSES21 OPPORTUNITIES22 THREATS22 MARKETING MIX23 PRODUCT23 PRICE23 PROMOTION24 PLACE24 SEGMENTATION, TARGETI NG AND POSITIONING24 ?Segmentation24 ?Targeting25 ?Positioning25 COMPETING PRODUCTS26 Hyundai Motor India Limited26 Models26 Hyundai EON27 Tata Motors27Models27 Tata Nano27 General Motors India Private Limited28 Models28 Chevrolet Spark28 COMPARISON WITH COMPETITORS29 References30 Figures and Tables Figure 1: Category-wise automobile production4 Figure 2: Production Trend6 Figure 3: Percentage change in production7 Figure 4: Trends in production, sales and exports of automobiles8 Figure 5: Key drivers of Indian Auto Industry9 Figure 6: Sales growth of MSIL14 Figure 7: Profit after Tax and Sales Value15 Figure 8: Company Networth over Years15 Figure 9: Growth in Sales Network16 Figure 10: Market share of Passenger car segment. Source SIAM, 12/200917Table 1:Category-wise sales and production of automobile in India7 Table 2: Indian pockets growing deeper9 Table 3: Maruti's Competitors across various segments18 Table 4: Variants of Maruti Alto20 Table 5: Pricing of Maruti Alto Variants2 3 Table 6: Comparison of Alto with Competitors Products29 ACKNOWLEDGEMENT The successful completion of this project would not have been possible without the help and constant support of many involved directly or indirectly. The team is grateful to Dr. H Gayathri, Dean – Administration and Professor, SDMIMD, Mysore for giving us an opportunity to conduct this study.The Management and administration of SDMIMD, Mysore has supported and guided us throughout and no amount of words can express our gratitude towards them. Last but not the least; the team is thankful to their parents and family members for their constant support. Group VIII, Section C PGDM 2012-14 INDIAN AUTOMOBILE INDUSTRY Indian automobile industry is one of the fastest growing in the world. It is one of those manufacturing industries which have grown significantly since the liberalization of India’s economy in 1990s. The industry is also known for many innovations.In 2010, India has emerged as the second fa stest growing car market in the world next only to China. Sales of two wheelers crossed 10 million units during the year, a first, with all major two-wheeler manufactures registering high double digit growth. India in 2010 is the largest tractor manufacturer, second largest two wheeler manufacturer, fifth largest commercial vehicle manufacturer and the eleventh largest car manufacturer in the world. Figure 1: Category-wise automobile production Historical Background Since its establishment, the Indian automobile industry has undergone constant evolution.Some of the famous car that was manufactured in those times was Ambassador, Fiat 500 and Fiat 1100. In 1953, the government of India modified the regulatory framework and ensured that only those companies which have a manufacturing program in India would be allowed to operate. Seven companies including Hindustan Motors, Premier Automobiles Ltd. and Tata Engineering and Locomotives Company received approval to operate in Indian market . During the decade of 1960s, the three wheeler industry was established in India. In decade of 1980s, Maruti Udyog Ltd. as established and this catalysed the growth of automobile industry significantly. The introduction of Maruti 800 models led to the purchase of more and more vehicles by Indian Consumers. MUL (later named as Maruti Suzuki India Ltd. ) has a technological tie-up with Suzuki Motors of Japan which ensured substantial up-gradation of technology in the Indian car industry. Several multinational players like Mercedes-Benz, Ford, GM, Hyundai, Peugeot and Volvo and Global auto-component firms have also established their bases in India with the view to catering to the demand of not only the domestic market but also to the export markets.Later half of 1990s and early part of 21st century saw the Indian automobile industry making the extensive leap forward. Since then Indian companies have been emerging globally competitive. They have been making significant strides outside the boundaries through mergers and acquisitions. The evolution of Indian auto component industry is closely associated with the trends in the automobile industry due to strong inter-industry linkages. India started manufacturing components locally by establishing tie-ups with multi-national players for technological up-gradation.Hence India became major outsourcing destination for the auto majors of the world. The growth of automobile industry was aided by increased economic activity and infrastructure development, growing middle class population with disposable incomes and availability of consumer finance facilities. India’s turnover and exports have surged over the years. Industry has started establishing manufacturing and marketing base abroad. Since 1991, the number of manufacturing facilities in India has grown significantly.There are around 15 manufacturers of passenger cars and multi utility vehicles, around 10 manufacturers of commercial vehicles, around 15 of 2/3 whe elers. The Indian automobile industry accounts around 5% of the national GDP. The turnover of the automobile industry was around US $ 35 billion and that for components industry was at US $ 18 billion in 2007-08. The total investment in automobile and auto components sectors which was estimated to be at Rs 50,000 crores in 2002-03, has gone up to Rs 80,000 crores by the year 2007-08.The saturation of traditional automobile markets of Europe, USA and Japan has led to the increasing growth of automobile market in India. About two decades ago, Indian automobile market was supply driven with few vehicular models, which has changed now to a demand driven market catering to the cross section of the society with more than 150 models and variants. Trends in Production Over the last few years there has been an increase trend in the production of vehicles both in value and quantity terms.The only lean patch in production was during the year 2000-01 and recently in 2007-08 during which the gro wth in absolute number declined marginally. The momentum in the production may increase further with India being considered favourably as a outsourcing destination. Figure 2: Production Trend From the above graph, it can be seen that the production of automobiles is increasing gradually every year but it has reduced in 2007-08 due to recession. The figure 3 shows the percentage change in production of vehicles ever year. Figure 3: Percentage change in production Category| 2003-04| 2004-05| 2005-06| 2006-07| 2007-08| |Production| Sales| Production| Sales| Production| Sales| Production| Sales| Production| Sales| Passenger Vehicles| 989560| 902096| 1209876| 1061572| 1308913| 1143076| 1545223| 1379979| 1762131| 1547985| Commercial Vehicles| 275040| 260114| 353703| 318430| 391078| 351041| 519982| 467765| 545176| 486817| Two Wheelers| 5622741| 5364249| 6529829| 6209765| 7608697| 7052391| 8466666| 7872334| 8026049| 7248589| Three Wheelers| 356223| 284078| 374445| 307862| 434424| 359920| 55 6126| 403910| 500592| 364703| Grand Total| 7243564| 6810537| 8467853| 7897629| 9743112| 8906428| 11087997| 10123988| 10833948| 9648094| Table 1:Category-wise sales and production of automobile in India Figure 4: Trends in production, sales and exports of automobiles The production, sales and exports of automobiles have registered continuous growth from 2002 to 2007 except the year 2007-08. Exports as a percentage of production have also increased during the analysed period. The improvement in the export as a percentage of production from 4. 89% in 2001-02 to 11. 3% in 2007-08 shows the growing capability of the Indian automobile industry to meet the international norms and standards and increasing acceptance of automobiles manufactured from India in the global market. Drivers of Indian Auto Industry The growth of the Indian Auto industry is catalysed by various factors. * The passenger car penetration in India is at 8. 5 vehicles per thousand people absolute terms. It is among the l owest in the world. As per capita GDP of a society grows, mobility needs for its population rapidly increase. * The proportion of young people, who are economically active, is rising in the overall population. This has led to increasing urbanisation and the need for mobility which translates into a higher demand for two and four wheelers in India. Relatively good availability of money and a favourable interest rate regime has also been a strong contributor to sustained demand. * The Indian auto industry is expected to get a boost from the road development programmes that the country has undertaken (Golden Quadrilateral and NSEW corridors). Changing Lifestyle Changing Lifestyle Key Drivers Driversdr Key Drivers Driversdr Exchange of Cars Exchange of Cars Low Car Penetration Low Car Penetration Poor Public Transport System Poor Public Transport System Favourable Duty Structure Favourable Duty Structure Rising Family Income Rising Family Income Improved Infrastructure Improved Infrastr ucture Finance Availability Finance Availability Figure 5: Key drivers of Indian Auto Industry Annual Income in ? No of households in 2010(millions)| Expected household in 2015(millions)| More than 10 lakh| 1. 2| 3. 3| 5 -10 lakh| 2. 4| 5. 5| 2-5 lakh| 10. 9| 55. 1| 90 thousand-2 lakh| 91. 3| 106| Less than 90 thousand| 101. 1| 74. 1| Total| 206. 9| 244| Table 2: Indian pockets growing deeper From the table 2, it can be observed that Annual Income of the households is expected to grow at higher rate. By 2015, it is estimated that the number of households with Annual Income Rs 2-5 lakhs will be around 55 million. Growth forecasts for Indian auto industry * The Passenger Vehicle market of India will even cross Japan by selling about 5 million Vehicles by 2017-18. The Indian auto exports will be up to $5. 62 billion in the year ending march 2011 and the same will grow to $ 17. 64 billion in 2015-16. * India’s share in global auto exports may also triple by 2016. * India’s passenger vehicle production projections: * By 2015 – 5. 1 million vehicles * By 2020 – 9. 7 million Experts state that in the year 2050, India will top the car volumes of all the nations of the world with about 611 million cars running on its roads. Predictions made by Ernst and Young have estimated that the Indian passenger car market will have a growth rate of about 12 per cent per annum over the next five years to reach the production of 3. 5 million units by the year 2014. The analysts have further stated that the industry’s turnover will touch $155 billion by 2016. This achievement will succeed in consolidating India’s position as the seventh largest automobiles manufacturer on the globe, eventually surging forth to become the third largest by the year 2030 behind China and the US. Current industry scenario At present major Indian, European, Korean, Japanese automobile companies are holding significant market shares. In commercial vehicle, Tata Mot ors dominates over 60% of the Indian commercial vehicle market. Tata Motors is the largest medium and heavy commercial vehicle manufacturer.Among the two-wheeler segment, including scooters and mopeds- motorcycles have major share in the market. Hero Motocorp contributes 50% motorcycles to the market while Honda holds 46% share in scooter and TVS makes 82% of the mopeds in the country. In the three wheeler industry in India, Piaggio holds 40% of the market share. Bajaj is the leader by making 68% of the three-wheelers. Car manufacturers in India dominate the passenger vehicle market by 79%. Maruti Suzuki is the largest car producer in India and has 52% share in passenger cars and is a complete monopoly in multi-purpose vehicles. In utility vehicles Mahindra holds 42% share. Hyundai and Tata Motors are the second and third largest car manufacturers in India.MARUTI SUZUKI INDIA LIMITED Maruti Suzuki India limited (MSIL, formerly Maruti Udyog Limited) is a subsidiary of Suzuki Motor Co rporation of Japan. Maruti Suzuki is a leading manufacturer of passenger vehicles in India. It is lovingly referred to as people’s car maker, over the past three decades. Maruti Suzuki has changed the way people in India commute and travel. The Company has two manufacturing facilities located at Gurgaon ; Manesar, south of New Delhi, India. Both the facilities have a combined capacity to produce over a 1. 5 million vehicles annually. The company plans to expand its manufacturing capacity to 1. 75 million by 2013.The Company offers 15 brands and over 150 variants ranging from people's car Maruti 800 to the latest Life Utility Vehicle – Ertiga. The portfolio includes Maruti 800, Alto, Alto K10, A-star, Estilo, WagonR, Ritz, Swift, Swift DZire, SX4, Omni, Eeco, Kizashi, Grand Vitara, Gypsy and Ertiga. In an environment friendly initiative, in August 2010 Maruti Suzuki introduced factory fitted CNG option on 5 models across vehicle segments. These include Eeco, Alto, Estil o, Wagon R and Sx4. With this Maruti Suzuki became the first company in India to introduce factory fitted CNG vehicles. In terms of number of cars produced and sold, the Company is the largest subsidiary of Suzuki Motor Corporation.Cumulatively, the Company has produced over 10 million vehicles since the roll out of its first vehicle on 14th  December, 1983. Maruti Suzuki is the only Indian Company to have crossed the 10 million sales mark since its inception. In 2011-12, the company sold over 1. 13 million vehicles including 1,27,379 units of exports. The Company employs over 9000 people (as on 31st March, 2012). Maruti Suzuki's sales and service network is the largest among car manufacturers in India. The Company has been rated first in customer satisfaction in the JD Power survey for 12 consecutive years. Besides serving the Indian market, Maruti Suzuki also exports cars to several countries in Europe, Asia, Latin America, Africa and Oceania VISIONThe Company believes that thei r core values drive them in every endeavour * Customer Obsession * Fast, Flexible and Fast mover * Innovation and creativity * Networking and Partnership * Openness and Learning Manufacturing Excellence Maruti began its operations in 1983, with the first the Maruti 800 rolling out from its Gurgaon plant. Over the next two decades Maruti Suzuki car models led by Maruti 800 brought about a revolution in the Indian car market. As the automobile market grew so did the company’s production capabilities, production process and infrastructure. Its scale and manufacturing today is completely different from when it began.Today Maruti Suzuki’s plants are comparable with the best in the world in terms of quality, productivity and operational efficiency. Exports In recent years, the company has expanded its presence in the overseas markets. It is not uncommon to find a Suzuki badge car in countries as different as Algeria, Netherlands, Chile, Sri Lanka, France and Italy. The Compa ny has exported over one million units cumulatively. Some leading overseas markets for the Company include advanced Western Markets such as Netherlands, Germany, France and Italy and U. K beside non-European markets like Australia, South Africa, Algeria, Chile, Indonesia, Sri Lanka and Nepal.Today, Maruti Suzuki exports models such as A-star, Alto , Estilo, Ritz, M-800 across to over 125 countries. In 2011-12 the Maruti Suzuki exported over 127,300 units. For its sustained efforts in developing new international markets Maruti Suzuki won the Business world International Business Award 2012 (In Exports Auto and Engineering Category). Maruti Suzuki and Motor Sport Maruti Suzuki has been actively promoting motorsports in the country for over a decade now. To popularize action sport, the Maruti Suzuki motorsport calendar is packed with exciting motoring events. Be it for a motorsport enthusiast, an amateur or a professional, there are events that offer the thrill and joy of motorsport t o one and all.The events include Autocross, Treasure Hunt and professional rallies including Maruti Suzuki Raid-de-Himalaya, Maruti Suzuki Desert Storm and Maruti Suzuki Dakshin Dare. These events provide rallying thrills as well as promote safe driving habits. For families, there are events like Women's Fun Drive and Treasure Hunt throughout the year, across cities. This year we will be organizing the fourth edition of Maruti Suzuki Autocar Young Driver contest, a nationwide search for India's best young driving talent. FINANCIAL PERFORMANCE OF MARUTI SUZUKI INDIA LIMITED The performance of Maruti Suzuki India Limited has been showing continuous growth in terms of Sales value and sales volumes. The company has been able to maintain its momentum by adopting to the changing environment.The below graph shows the sales of Maruti Suzuki India Limited Figure 6: Sales growth of MSIL The below graph shows the Sales achieved and the Profit After tax of MSIL over the past 5 years. Figure 7: Profit after Tax and Sales Value The Company’s NETWORTH over the years has continuously increased. The growth in the company’s Networth is depicted in the chart below. Figure 8: Company Networth over Years SALES AND SERVICE NETWORK Maruti Suzuki boasts of the largest Sales and Service network in Indian Passenger Vehicles Market. The company has a Sales Network of 1100 in 801 cities across the country. The Company also has over 2,900 service points pread across 1408 cities across the country. The graph below depicts the growth in the sales network of Maruti Suzuki Figure 9: Growth in Sales Network MAJOR COMPETITORS Maruti Suzuki enjoys a market share of 45% in the Indian Passenger Car Market. However it has been facing stiff competion from other market players such as Hyundai with a market share of 16%, Tata Motors with a market share of 14%, Mahindra with a market share of 8%, Chevrolet with a market share of 4%, Toyota with a market share of 3 % among others. A breaku p of the market share of various players in the passenger car segment is shown below. Figure 10: Market share of Passenger car segment. Source SIAM, 12/2009It may be observed from the above chart and the sales growth of Maruti Suzuki, that the company has been facing stiff competition. The company being the Market Leader has been able to tide through the tough challenges effectively by employing various strategies. The company’s enormous service base and dealer network has enabled it to maintain its stronghold in the Passenger car market. Companies such as Hyundai, Tata Motors and Chevrolet have been launching products targeting the entry level car segment. However Maruti has been able to hold on to its customer base. Various challenging products launched by its competitors are given in the following table. Sl.No| Segment Description| MSIL Products| Competitors Products| 1| Passenger Cars: Mini| M800, A Star, Wagon-R, Alto| Chevrolet Spark and Beat, Tata Nano and Indica, Hyun dai Eon| 2| Passenger Cars: Compact| Swift, Estillo, Ritz| Hyundai i20, Volkswagen Polo, Skoda Fabia, Ford Figo, Fiat Punto, Nissan Micra, Renault Pulse, Honda Brio, Toyota Etios Liva| 3| Passenger Cars: Super Compact| DZire| Tata Indigo, Manza, Mahindra Verito, Hyundai Accent, Chevrolet Optra| 4| Passenger Cars: Mid-Size| SX4| Honda City and Civic, Hyundai Verna, Chevrolet Cruze, Ford Fiesta, Fiat Linea, Nissan Sunny, Toyota Corolla, Renault Fluence| 5| Passenger Cars: Executive| Kizashi| Hyundai Sonata, Honda Accord, Volkswagen Jetta, Skoda Laura, Toyota Camry| 6| Utility Vehicles| Gypsy, Ertiga, Grand Vitara| Toyota Innova, Tata Safari, Sumo, Mahindra Xylo, Scorpio, Renault Duster| 7| Vans| Omni, Eeco| | Table 3: Maruti's Competitors across various segments Even with the kind of competition, Maruti has been able to hold on to its position with its revolutionary products such as the Alto and Swift. Alto has been continuously the highest selling Passenger Car. Swift enjoys a high m arket share in the Compact Hatchback segment.With its presence in 801 cities across the country with over 1300 authorised service centers, Maruti has been able to hold on to its customers. Maruti also faced competition from the used car sales market, for which the company found a novel solution by launching True Value outlets for used cars. ALTO – Let’s GO Maruti Suzuki launched ALTO in the Indian market in 2000. Alto was launched in the entry level Hatchback segment alongside Maruti’s own M800 which was launched in 1983 and since then had revolutionised the Automobile market in India. Alto stood generations ahead of the M800 in terms of technology and interior space. Alto showed the industry what a mass car could offer. It was also the first car that showed that car sales in India could log high sales volumes.Alto achieved cumulative sales of 20 lakhs during March 2011, the highest for any Indian Car. It also recorded the highest ever number of sales for any In dian Car in March 2011 by selling 38,065 units. As of July, 2012, Maruti Suzuki Alto stands at the no 1 position with 17,422 units sold during the period with a share of 9% of overall passenger car sales. It is worth mentioning that the top three spots are all held by Maruti’s Products. Second position is held by Swift at sales of 11,421 units and DZire at sales of 11,413 units. Maruti Alto was also the world’s highest selling small car of the year in 2010. Major Achievements of Maruti Suzuki Alto: 1. World’s Largest Selling small car for two consecutive years. 2.Second Maruti Suzuki brand to sell over 2 million, with the first being Maruti 800. 3. Crossed the 20 lakh sales mark in just 11 years 9 months in June 2012 4. Only car brand in India to cross the 3,00,000 unit sales mark in a single financial year. 5. First Indian Car to successfully pass a 24hrs endurance test. 6. Has been the highest selling car brand in the domestic market consecutively for the past 7 years. Alto Variants Maruti Suzuki launched the Alto brand in various variants such as Standard, LX, LXi. VX and VXi. The table below gives a brief outline of the various variants and the features that it offered Sl. No| Variant| Features offered| 1| Standard| Introduced as the basic model.Had an advantage over M800 in that it had more space and introduced the 5th gear for cruising at high speeds| 2| LX| Model Introduced along with Air Conditioning| 3| LXi| Model Introduced along with Air Conditioning and Power Steering features| 4| VX| This model sported a 4 cylinder V engine along with Air-Conditioning| 5| VXi| This model sported a 4 cylinder V engine along with Air-Conditioning and Power Steering feature| 6| Alto K10| This model was recently launched in 2010 with a powerful 1000cc engine| Table 4: Variants of Maruti Alto Alto has been highly performing in the market and forms the major sales generating cars for Maruti Suzuki.The company’s effective positioning of the br and enabled it to gain the market leader position in a short period of time. With huge growth of the Brand, MSIL slowly and in a phased manner closed down several of its production lines of M800. Thus Alto allowed MSIL to cannibalise its own product. Alto’s Brand name made Suzuki market A-Star under the Alto brand in Europe. Recent Developments: Recently Alto has been facing stiff competition by players such as Chevrolet (GM), Tata Motors and Hyundai. Launch of Tata Nano was expected to eat into the sales of Alto. Chevrolet launched Spark and Eon’s launch by Hyundai have been expected to eat into Maruti Alto’s sales.However the company has adopted aggressive marketing strategies to combat the same. The company launched the Maruti Alto Xplore feature with a number of additional features. Alto K10 introduced in 2010 also helped the company combat some combination, which helped it to maintain combined sales of 20,000 units per month. The company is also expected to launch a new 800cc car to be named as Alto 800, with a price in the sub 2 lakh range making it around 40,000 cheaper than the regular Alto. This may be the company’s answer to Nano from Tata Motors. Maruti’s Alto 800 will replace the Iconic M800 and is likely to cash in on the 28-year legacy that the car has created.Also Maruti is expected to launch the model during the 2012 Indian Festival season to push up sales volumes. SALES GROWTH OF MARUTI ALTO Alto since its inception in 2000 has been posting increasing sales. The sale of Alto in FY 2009 was 212,000 units and grew to 235,000 units in FY 2010. FY 2011 saw sales of 347,000 units and during FY 2012 the brand recorded a sales of 308,000 units. STUDY OF ALTO IN THE CONTEXT OF MARKETING In the course of this work an attempt has been made to study Maruti Alto in the context of Marketing by applying various marketing techniques and models. An effort has been made to apply relevant models to study the success of the bra nd.We start with studying the brand in the context of 4 P’s, make a SWOT analysis on Maruti Alto and discuss the Segmentation, Targeting and Positioning. SWOT ANALYSIS The Strengths, Weaknesses, Opportunities and Threats for Maruti Alto as a brand is analysed below STRENGTHS Company Reputation: Maruti enjoys a very good reputation in the Indian Passenger Car Market. The company has built on the reputation from its M800 which revolutionised the market. As a brand Maruti Alto enjoys a similar reputation as the most selling small car. Market Share: Maruti being the market leader in the Passenger car segment enjoys a large market share of over 40%. Alto also enjoys a huge market share in terms of volume sales at around 9% of the overall passenger car sales.Customer Satisfaction: Maruti Suzuki is Ranked No. 1 in J D Power Customer Satisfaction Index consecutively for 12 years. Distribution Effectiveness: Maruti has a vast distribution and service channel. This has helped the compa ny penetrate into the whole geographical reach of India. The company has a total sales network of 1100 dealers and has covered 801 Indian cities. It has over 1305 Dealer workshops and around 1653 authorised service centres spanning 1408 cities. Geographical Coverage: The Company has covered the width and breadth of the Indian Subcontinent. With its huge sales and service network the company has been able to maintain a strong foothold in the market. WEAKNESSESTechnical Manufacturing Skills (Diesel Car Segment): Maruti Suzuki has by far been the best performing company in the passenger car segment in the petrol variants. Its major sales have been in the Petrol variants. However the company lacks experience in the diesel cars manufacturing and is relatively new to the segment. However with the introduction of the diesel versions of Swift and Swift DZire the company has alleviated the absence in this segment. However Alto completely misses out in this segment. The company has recently r eported that it is planning to launch a car with an 800 cc diesel engine. Workforce: Maruti Suzuki has a large workforce; however most of this workforce has been contract personnel.The company has been witnessing regular strikes by the workforce. A recent turmoil at the companies Manesar Plant is evident of the volatile workforce of the company. Export Market: Maruti Suzuki has been the leader in domestic sales; however the company lags behind in exports. Hyundai its closest competitor in the domestic front holds the leader position in exports. Though Alto has made a name in European roads, the company has not been able to capitalise on the same due to lack of experience. OPPORTUNITIES Purchasing Power: The growing purchasing power and Income of the Indian Middle Class family is an opportunity that the company can capitalise upon.Diesel Car Segment: Though Maruti Suzuki and Alto as a brand suffer from their relative absence in the diesel car market, the diesel car segment is a lusci ous opportunity for the company to cash upon. With subsidised diesel prices and better diesel engine technologies in the market, many customers are willing to try diesel cars. Therefore a growing diesel car market segment is an opportunity for Maruti. THREATS Competition from Foreign Players: Maruti Suzuki faces a major challenge from the new players entering the Indian Market from foreign countries. This was already witnessed after the launch of Chevrolet (General Motors) in India. Competition from Second hand / Used Cars Market: Many first timers tend to buy used cars. This eats into the sales of Maruti Suzuki’s products.However the company has been able to alleviate it with the launch of its very own True Value outlets selling used cars. MARKETING MIX An attempt is made to analyse the Brand with reference to the 4 P’s of marketing: Product, Price, Promotion and Place. PRODUCT Large Portfolio of products: Maruti Suzuki has a large variety of products as shown in tabl e 3. Apart from this the company also has a variety of products under its various brands. Maruti launched Alto in a number of variants such as Standard, LX, LXi, Vx and VXi (referred in table 4) Design: Maruti Alto was so designed to increase the interior space of the car in comparison with the M800. Also the car featured a fifth gear which was absent in the erstwhile leader M800.Features: Feature additions have been taking place as per the requirements of the customers. Features such as power windows are now a part of the new models K10 and Xplore. Warranty: MSIL offered a warranty of 2 years or 40,000 kms of running whichever is earlier from the date of delivery to its first owner for all of its cars. Also MSIL provides extended warranty services on payment of a premium. The warranty can be extended to 3 or 4 years (60,000 kms or 80,000 kms). PRICE Various variants of Maruti Alto is priced as per the table below: Sl. No| Model| Price (non Metallic) in Rs| Price (Metallic) in Rs| 1 | Alto Standard| 2,49,477. 98| 2,52,745. 62| | Alto LXI| 3,01,249. 97| 3,04,517. 61| 3| Alto LX| 2,82,489. 77| 2,85,757. 42| 4| Alto K10 LXI| 3,24,319. 31| 3,27,587. 10| 5| Alto K10 VXI| 3,37,736. 80| 3,41,004. 92| Table 5: Pricing of Maruti Alto Variants MSIL has been recently adopting Aggressive pricing to capture higher market share and to counter the attack by other manufacturers such as Hyundai with the launch of EON. Maruti During the initial days of launch of Alto had put Alto under the A2 segment. The A1 segment had only 1 Brand, the M800. The A2 segment contained 3 brands viz. , Alto, Zen and Esteem. Thereby Maruti scaled down the Alto LX model to Alto Standard priced at over 2. 4 Lakhs.This enabled Maruti to play 2 brands in the A1 segment which earlier had only one car. Also it may be noted that Alto initially priced the Alto in the A2 segment as most of the components were imported. Efforts of Import Substitution led to increase in the local content and Maruti was thus a ble to reduce the prices of the models. Maruti is seen adopting aggressive pricing recently. It is reported to be planning the Alto 800 in the sub 2 lakh Rupees segment, cheaper by almost Rs 40,000 than the regular Alto. PROMOTION Maruti Suzuki adopted various sales promotion and Advertising efforts. They target the market with taglines such as â€Å"Ghar Ghar me Maruti†, â€Å"Mera Sapna Mera Maruti†, â€Å"India comes home in a Maruti†.Ads telling Maruti Alto – Lets Go stressed on the fuel efficiency of the cars. Maruti’s Advertisements were targeted at the mileage savvy Indian consumer. Ads in which people would ask a guide â€Å"Kitna Deti Hai† were clearly targeted at the Indian Consumer. The ads noted in the end that â€Å"For a Country Obsessed with Mileage, Maruti makes the most fuel efficient cars†. Maruti also offered discounts during festival seasons to increase its sales volumes. Maruti choose many channels for its promoti on. It advertised on the print media, broadcasted its advertisements and also advertised over the Internet. Alto was promoted everywhere as a fuel efficient Brand. PLACESales Channels: Maruti expanded from a sales network of 375 in 227 cities in 2005-06 to 801 cities in 2011-12 with a total sales network of 1100. The company has a service network spread across 1408 cities. Coverage: Maruti has been able to launch its products across all states of the country. Its sales network presence in 801 cities indicates to the fact that Maruti has been able to launch its products across the Indian Subcontinent. SEGMENTATION, TARGETING AND POSITIONING * Segmentation: Maruti Suzuki segmented the market on the basis of income and age. In this way they employed demographic segmentation. * Income: For high income groups models like SX4, Kizashi, Swift Dzire and Ertiga were launched.For middle income groups models like Alto, A Star, Ritz, Wagon-R and Swift under premium hatchback segment were launch ed. * Age: Maruti Alto was targeted at the Indian Youth. The company launched AD campaigns which showcased it as a car for the youth. However the car appealed for all the age segments. * Targeting: Maruti Suzuki targeted the Indian youth and the middle income group. The company looked at the vast population who were looking to switchover from two wheelers to four wheelers. * Positioning: Maruti Suzuki positioned Alto as the car for the youth along with their existing position as a fuel efficient brand. Their advertisements depicted Alto as a fuel efficient small car for the youth.This can be also known from the Maruti Suzuki’s note on Alto as â€Å"Epitomising freedom and independence, the Alto offers high fuel efficiency and is easy on maintenance. The Alto is the perfect option for the ever-mobile youth of today†. COMPETING PRODUCTS Ever since its Launch Maruti’s Alto has been clocking large sales. The company capitalised on the growing Income of the Indian Ho usehold and targeted the Indian Youth. It may be noted that as mentioned earlier, 27% of Alto’s sales came from youth under the age of 29. This was noticed by other major players in the Indian Sector. Thus most of them launched products challenging the position of Maruti Alto. Hyundai, General Motors and Tata Motors came up with products supposed to challenge Maruti Alto.Below a brief discussion is made about these companies and their competing products. Hyundai Motor India Limited Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the largest car exporter and second largest car manufacture in India. HMIL presently markets models of passenger cars across different categories. HMIL’s manufacturing plant is located near Chennai with the total capacity of 600000 units per annum. It claims to have the most advanced production, quality and testing capabilities in the country. To support its growth and expansion plans, HMIL currently has a 336 strong dealer and 721 strong service points across India.Models The following are the models available currently from the HMIL. 1. Hyundai Accent Executive(Launched 2003) 2. Hyundai Santro Xing(Launched 2003) 3. Hyundai Uber Cool i20(Launched 2008) 4. Hyundai Next Gen i10(Launched 2010) 5. Hyundai Fluidic Verna(Launched 2011) 6. Hyundai EON(Launched 2011) 7. Hyundai Santa Fe(Launched 2010) 8. Hyundai Sonata(Launched 2012) Among these models, Hyundai EON is the nearest competitor for Maruti Alto. It is priced between Rs 2. 7 lakhs to Rs 3. 7 lakhs and gives the Maruti Alto a strong competition. Hyundai EON Maruti is facing stiff challenge from its direct competitor Hyundai Motors after the launch of EON.There was slight slowdown in Alto’s booking and sales ever since HMIL announced the launch of its new product EON. Hyundai EON was also targeted at the same segment of Indian Youth which was the major segment generating revenues for Maruti Alto. EON achieved bookings of 6315 units during October 2011 during which period the sales of Alto clocked 15,197 units. Tata Motors Tata Motors is the India’s largest Automobile manufacturing company, world’s 4th largest truck manufacturer and 2nd largest bus manufacturer. It is ranked 3rd in the passenger car segment. It has auto manufacturing and assembly and assembly plants in Jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad and Pune.It has also operations in the UK, South Korea, Thailand and Spain through subsidiaries. It has sold over 6. 5 million vehicles in India since 1954. Models Under passenger cars division of Tata Motors, the following are the models available currently. 1. Tata Sumo / Grande / Gold 2. Tata Safari 3. Tata Indica / Vista 4. Tata Indigo / Marina / Manza 5. Tata Nano 6. Tata Xenon XT 7. Tata Aria Among these models, Tata Nano is the significant competitor for Maruti Alto. It is priced very aggressively around Rs 1. 5 lakhs. Tata Nano The Nano was a household name even before its launch. The launch of Tata Nano expanded the Indian car market by 65% (according to CRISIL). At present, the Nano comes with a 4 years / 60000 km warranty.The launch of Nano lessened the price gap between the two wheelers and the four wheelers. The Nano was expected to be a major challenge for the Alto and was expected to eat into the sales of Alto. During October 2011 Nano recorded a sales of 3868 units against Alto’s sales of 15,197 units. General Motors India Private Limited General Motors India Private Limited is the fifth largest automobile manufacturing company in India after Maruti Suzuki, Hyundai, Tata Motors and M&M. In 1996, GM launched its first model Opel Astra. General Motors India manufacturing plant is located at Halol, Gujarat and they entered the Indian Auto market with total investment of US $ 252 million.In 2003, the company entered the MUV segment by launching the Chevrolet brand in India through Forester. In 2004, the comp any launched another MUV model, the Tavera. The Tavera was quite successful in capturing the attention of tours and travels operators after the exit of Toyota Qualis. Following this the company launched various models in different categories under Chevrolet brand. Models GM India motors discontinued all the models under the Opel brand in 2006 and replaced by Chevrolet. The following are the current models available under the Chevrolet brand. 1. Chevrolet Optra (Launched 2003) 2. Chevrolet Tavera(Launched 2004) 3. Chevrolet Aveo / U-VA (Launched 2006) 4. Chevrolet Spark (Launched 2007) 5.Chevrolet Captiva (Launched 2008) 6. Chevrolet Beat (Launched 2010) 7. Chevrolet Cruze (Launched in 2007 and upgraded in 2012) Chevrolet Spark GM launched Chevrolet Spark in 2007 targeting the entry level segment with a price tag between Rs 3. 14 – Rs 3. 68 lakhs. . Chevrolet Spark was also launched on the same platform as that of Alto targeting the youth. Chevrolet introduced additional featu res such as airbags to its variants in Spark. Chevrolet also offered a 3 year / 100000 km warranty for Spark while Maruti offered only a 2 years / 40000 km warranty for Alto. During October 2011 Chevrolet Spark Clocked a sales of 1782 units as against Alto’s sales of 15,197 units.COMPARISON WITH COMPETITORS In the previous section the close competitors of Maruti Suzuki Alto were discussed. Here an attempt is made to compare the brands on various aspects. The table below shows the comparison. Factor of Comparison| ALTO| HYUNDAI EON| TATA NANO| CHEVROLET SPARK| Company Reputation| High| High| High| Good| Brand name| High| High| Good| Good| Product Quality| Good| Good| Good| High| Product Features| Less| Good| Less| Good| Market Share| High| Low| Low| Low| Product Variants| Good| Less| Less| Less| Table 6: Comparison of Alto with Competitors Products It may be noted that Maruti Suzuki Alto stands ahead of its competition.However, during recent times it is seen that the market sh are of the company and the brand has reduced due to other promotional strategies employed by its competitors as well as the features and services offered. Various strategies that may be adopted by Maruti Suzuki to help retain its market share are given below: 1. Product Reformulation: Maruti may adopt various product reformulation strategies to increase its image. The interiors of Alto have been noted to be boring and less spacious. Maruti should work towards improving the interiors of Alto and also to increase the leg space. 2. Feature Additions: Maruti Alto suffered a setback to Hyundai Eon as Eon sported Airbags among other safety features. Maruti can also introduce features such as Airbags, Anti-Lock Braking system and Power Windows. 3.Product Quality Improvement: Maruti Alto was reported to have hard gears in comparison to Hyundai cars. Maruti may work on the same to improve the quality of the cars. References [1] | M. Goyal, â€Å"How Maruti keeps meeting India's demand ; wha t makes Swift and Dzire so popular,† The Economic Times, 19 August 2012. | [2] | â€Å"www. ibef. org/industry/automobiles. aspx,† [Online]. | [3] | â€Å"http://amitbiswal. blogspot. in/2011/08/market-share-analysis-of-indian-car. html,† [Online]. | [4] | S. R. Anjan Ghosh, â€Å"Indian Passenger Vehicle Industry: Growth Momentum To Continue†. | [5] | M. M. Mr. S. Prahalathan, â€Å"Indian Automotive Industry:At The Crossroads,† Quest Publications, 2008. [6] | Maruti Suzuki India Ltd, â€Å"Annual Report 2011-2012†. | [7] | â€Å"http://en. wikipedia. org/wiki/Maruti_Suzuki,† [Online]. | [8] | M. Singh, â€Å"Maruti Adapts Aggressive Marketing Strategy For Alto To Combat EON Effect,† Caredekho. com, 20 October 2011. | [9] | â€Å"http://bestsellingcarsblog. com/category/india/,† [Online]. | [10] | â€Å"http://management-punditz. blogspot. in/2012/04/indian-automobile-statistics-fy-2012. html,† [Online]. | [11] | â€Å"http://www. marutisuzuki. com/,† [Online]. | [12] | N. S. Gupta, â€Å"Maruti may position Alto in the A segment,† The Economic Times, 23 April 2004. | [13] | â€Å"http://en. wikipedia. org/wiki/Automotive_industry_in_India,† [Online]. |