Marketing Analysis Essay Example | Topics and Well Written Essays - 1250 words - 1

Marketing Analysis - Essay Example Depending on the levels of planning and intensity of auctioning process, the auction can last for a few days or even months. This paper analyses the process of spectrum auctioning and the relevant terms used in the marketing and transfer of the spectrum rights. The paper presents an exploration of the practicality involved in auctioning process to the economy of any nation that involves itself in the process. Spectrum auctions involve the sale of several interrelated spectrum licenses at a single moment in the market. There is no specified theory that guides the process of spectrum auctioning. The procedures of designing the auction involve utilization of scientific skills rather than merely economic theories and approaches. However, in the designing of the auction, there is a need that the developers attach more economic value to the amount of revenues collected against the expenses of running the auction (Maarten, 96). This strategy means that the efficiency of the spectrum auction depends on the amounts of revenues, which governments target at the end of the procedures. The levels of efficiency are specifically important because auctions are a relatively more stable source of revenues for the governments, similar to taxation. There are arguments that relate to the aspects, with some of them proposing that there is no need for the governments to attach much efficiency to the process of spectrum auctioning. However, as economists, there is a need that costs of factors of production be compensated in the amounts of revenues collected. This is the reason for making this topic an area of relevance to the economists. According to Mike (93), open bids give a chance for the bidders to get valuable information from the market as it concerns the valuations. The accessed information helps to enhance effective assignment of

Analysis a case study with reference to Bolman and deal four frames

Analysis a with reference to Bolman and deal four frames - Case Study Example In their work, Bolman and Deal (2003) found out an excellent approach in imparting both academic and entrepreneurial discipline in an individual professional. The balance upon attainment of these techniques results in good management qualities from an individual. The main objective of the skills acquisition is to ensure a smooth transition from clinical practice into new management roles. This study attempts to summarize the Four Frames in order to make a highlight of the distinct qualities that an individual must adopt to perform effective managerial roles. As a practicing clinician, one may feel the burden of moving into a new position of a senior manager since it requires some skills to transform from an ordinary practitioner into a more specialized role of a senior manager. To achieve this new role, Parry and Horton (1999), confirmed that holistic leadership and desired characteristics thereof involves assumption of greater importance to academics. The said leadership requires engagement ability and diverse approach to solve the difficult decision making problem. The tasks and roles that the new manager has to face require enlightenment that will best be suited by the use of Bolman and Deal recommended variety of approaches (Curran et al 2003). As a clinician, to make the relevant transformation, one must change the mindset and adopt the best leadership and management practices as outlined in Bolman and Deal (2003) study. Caution and confidence must be exercised. This is because some conflicts and relationship issues are involved as highlighted below. There are a number of conflicting issues involved as the clinician tries to adapt into the new unfamiliar managerial duties. These challenges have been classified into their respective Bolman and Deal Frames and possible solutions follow in form of qualities to adopt from Bolman and Deal (2003) study. Conservative versus change conflict: the manager

General Principles of Ecology Essay Example for Free

General Principles of Ecology Essay The term ecology refers to the study of abundance and distribution of living organism in an ecosystem, together with the interaction that exists between them and the natural environment. The distribution of organisms is usually influenced by the adaptation of a certain organism to the environment. An adaptation refers to an organism’s ability to exist successfully in a given environment. Therefore, organisms can only exist in environments that they are adapted to. When a given species of animal or plant is adapted in a given natural environment, then it becomes distributed in that environment densely and in high numbers. Those that lack the ability to adapt well are poorly distributed, since they cannot cope with the pressures or stress that emanate from the environmental conditions. Different species of plants can be adapted to low and high –nutrient environments. Plants always try to adapt to the environments in several ways. The plants that inhabit low –nutrient areas grow at a slow rate, as an adaptation to the scarcity of nutrients. These plants also have the ability to recycle nutrients internally. Those in high nutrient areas on the other hand grow fast. They have the ability to control the absorption of nutrients at minimum levels. The breakdown of dead organic matter in the soil undergoes several processes. The first process of breakdown involves the alteration of the organic matter chemical components. This is then followed by another process, whereby the chemical components are split or fragmented. After undergoing these two processes, the organic matter mineral nutrients are then released into the soil and they are then converted into simpler components that can be absorbed by the plants. The day length influences the seasonal activity of plants and animals, because the length of the day length triggers certain changes. These changes include the climatic patterns in an area. Both plants and animals synchronize their behavioral and physiological activities with the seasonal changes. By doing this, they are able to carry out certain activities based on the season of the year. For example, the migration in animals is sometimes synchronized with the seasonal changes. Plants on the other hand, synchronize activities such as pollination with seasons when the activity can be easily facilitated by the pollinators. Temperature conditions in a given natural ecosystem affect the response of both the homeotherms and the poikilotherms. While the homeotherms have the ability to maintain their internal environment temperature at a stable level, the poikilotherms on the other hand cannot regulate their internal environment temperature. Changes in temperature triggers behavioral changes in poikilotherms as they try to regulate their body temperature depending on the external temperature. For example, some poikilotherms may bask out in the sun so as to regulate body temperature by warming their bodies. The homeotherms try to regulate their body temperature using feedback mechanisms in their body systems. For instance, their blood vessels may undergo dilatation or constriction as their bodies try to conserve heat. Climatic changes may trigger an inactive state in animals, especially during the cold season or winter. Hibernation and torpor are two examples behavioral adaptations in animals to very low temperatures. In both, animals go into a state of inactivity and they lower their body metabolism as a strategy of conserving energy . However, there is one major difference between the two. In hibernation, the animals’ body temperature at a significant level. Animals that hibernate become inactive for a long period of time. Torpor on the other hand is whereby animals lower their body temperature but at minimal levels as compared to that in hibernators. Animals that undergo torpor may be inactive but usually wake up several times. The Black Bear is not considered as a true hibernator because its body temperature does not reduce significantly as that of a true hibernator . Furthermore, the bear remains alert and active during the period of â€Å"hibernation†. References Odum, E. P. (1971) . General Principles of Ecology, Third Edition W. B. Suanders Company. Smith, T. M. , and Smith, R. L. (2005). Elements of Ecology. (6th Edition). Benjamin Cummings Publishers

The Ones Who Walk Away from Omelas :: Ones Who Walk Away from Omelas Essays

The Ones Who Walk Away from Omelas "Perhaps it would be best if you imagined it as your fancy bids, assuming it will rise to the occasion, for certainly I cannot suit you all." This is an open invitation for you, the reader, in the short story "The Ones Who Walk Away From Omelas." Ursula K. Le Guin is simply inviting you to become her main character. How might you accept or deny this malicious request? It is quite simple, really. To accept it is to read on, and to deny it is to disembark in the endeavor. The city of joy, your own Omelas, is developing continuously in your head. How sweet it is. The image of the bay surrounded by the mountains with Ursula's white-gold fire enchanting the air. Oh, and one cannot forget the tantalizing orgy custom fit to your most personal delights. Can you even begin to imagine the mere possibility of an association between religion and sexual pleasure without the possible deviance of human authority? It all seems nearly ovenvhelming. The fascination continues with every mom ent of lustful anticipation. One cannot deny their own perversion long enough to stop engaging in a plot that might encourage it. But there is a catch of course, for there is always a catch. This particular one is quite deviant really, for this city is a complete deception. It is a place of lamentation and punishment. It is a prison that simply provokes the archaic smiles described within the sentences. How best can one describe the goal of such a story? I believe I shall attempt to do so by describing the main character, you of course! You are presented with three stages and then you are given three questions. In the end, it will be your duty to determine the final event. Create-a-meal, no my friend, instead you are given the tools to create-a-setting. You are presented with brilliant horses and jubilant music, bright colors and beautiful scenery, a blissful introduction, indeed. Shockingly enough, in the second paragraph it is quickly taken away from you. A dagger penetrates your balloon image. You are told that the smiles and happiness of the city are not genuine. Ursula K.

Belonging: Indigenous Australians and Connected Family Relationship Essay

Belonging is the enlightenment felt when man gains an awareness of themselves, which may or may not include affiliations to others & the wider world. This insight is found in the texts of ‘As You Like It’ by William Shakespeare, ‘The Last Samurai’ directed by Edward Zwick & ‘The Past’ by Oodgeroo Noonuccal. As You Like It initially accentuates familial & political usurpation, injustice, exile & the pain of being made to feel that no one longer belongs in either court or family. The physical level of ‘wrestling’ within the play metaphorically acts as an impulsive level of ‘grappling’ amongst civilisation. This diminishes any sense of connection amid urban society & in effect, the court is seen as a world of division, lack of acceptance & where powerless people such as Orlando do not seem to belong. In the play, belonging, however, develops from the interaction of the characters nature & nurture. For Oliver & Orlando these aspects varied. Oliver is of noble ‘birth’, yet his degenerate nature contrasts to that of Orlando’s. Despite this, Oliver accuses Orlando of being a villain, whilst carrying only hate for him, personifying his soul, â€Å"I hope I shall see an end of him, for my soul†¦ hates nothing more than he†. Henceforth an absence of filial connection existed between the siblings. Nonetheless this insufficiency dwindles as the two venture through Arden, discovering diverse values, emotions & essentially a forced change of nurturing, with Oliver in particular. He experiences brotherly love & sacrifice, evoking an inherent benevolence, in the paradox, â€Å"Twas I, but ’tis not I: I do not shame to tell you what I was, since my conversion so sweetly tastes, being the thing I am.† Oliver now ‘belongs’ in a connected family relationship, & to a ‘self’ that he can now perceive as being different from before. Shakespeare uses Jacques to show how the guise of ‘not belonging’, veneers a desire to find belonging on another level. â€Å"Out of these convertities there is much matter to be heard & learned.† In repelling a return to the court, Jacques endorses a transcended form of belonging, a self-belonging of a philosophical, intellectual & spiritual degree. Ironically, while isolating himself from man, it is through the company of various temporary characters that Jacques cultivates his conceptions about humanity. From the movie ‘The Last Samurai’, the concept of belonging is centred on the idea of kinship & assimilation. Recalling Algren’s initial encounter with the Samurai, a reservoir of fear in the modernised Japanese soldiers is present as they are overwhelmed by their masochistic nature. Zwick’s use of fog concocts an atmosphere of ambiguity & evokes panic amongst the moderns, symbolic of their imbalance in contrast to the kinship of the Samurai. Evidently, Zwick shapes meaning by contrasting two opposing societies & values, allowing the responder to realise the importance of belonging. Zwick’s attempt to provide the responder with an insight into Algren’s mentality is achieved with flashbacks & diary entries. The flashbacks are nightmares of Algren’s shameful past, which creates within him a resent & rage towards all things, the core of his isolation. Likewise the diary entries are an extension on this device in which they keep the responder informed on Algren’s current state. Per contra, a clear breaking of disparity emerges as he writes â€Å"It is here I’ve known my first untroubled sleep† thus gradually assimilating with eastern culture. The entries begin to represent a lack of defiance & a growing curiosity, the idea of acceptance being associated with understanding & comfort ultimately grants Algren refuge & a sense of belonging. The composer’s use of symbolism contributes to the assertion of attaining belonging. The rain is a recurring symbol which represents revelation & growth within Algren & the fire signifies creation & rebirth of a new asylum found with the Samurai. Colour itself is a symbol; the dull darker colours are mostly associated with the westernised area, rendering a disconnected aura. On the contrary, we are introduced to the collation of vibrant earthly colours found at Samurai village, betokening a sense of truth, a place where Algren can develop a conceptual understanding of himself & others. In ‘The Past’, Noonuccal enunciates her sense of belonging to Aboriginal culture with the direct juxtaposition of the past & present; White & Aboriginal ethnology. The importance & connection to the land for Aboriginal Australians is accentuated through metaphoric antiquity, â€Å"But a thousand camp fires in the forest†¦Are in my blood†. The multitudinous campfires insinuates the significant length of Aboriginal history in antithesis with late European settlement & comfortable white culture, â€Å"In easy chair before electric radiator†. Noonuccal differentiates past & present to express how an individual’s unresolved identity can influence their belonging in the present. Noonuccal fails to find association with present, white ethnics due to her inability to relate & attain solidarity. As an Aboriginal Australian, Noonuccal’s belonging lies within her Aboriginal identity & her strong mutuality with nature, the land, her ancestors & the past. Her firm belief in animism expresses the camaraderie she shares with her environment. Personification is employed to communicate the idea of animism, as seen in the third stanza, â€Å"The tall surrounding trees that stir in the wind.† Noonuccal achieves a state of harmony through an intimate alliance with the land that shapes their integrity. Ultimately, through the use of various literary techniques & discussion of the texts, it is prominent that†¦

The Effects of Alcohol on Campus Essay - 1367 Words

Alcohol on campus has always been a problem. Since the beginning of higher education, students have rebelled against the rules and laws of the university and the state. Underage drinking has become a nationwide pandemic. With the legal drinking age now at twenty-one, at least half of the college population is underage, leaving room for more students to engage in binge drinking at fraternities, athletic events, and dorm rooms. The fact that half the students are underage makes them more rebellious and wanting to feel above the law, often ending in underage drinking. The articles that will be reviewed and discussed in this paper demonstrate the importance of substance-free residence halls and a survey taken to analyze the effects of alcohol†¦show more content†¦The campus wants to send the massage to incoming students that the majority of the campus does not participate in binge drinking or drink at all. Many students who answered the survey responded that part of their binge drinking was due to â€Å"trying to fit in† and â€Å"because everyone else does,† (Weitzman, 31). Substance-free residence halls, where substances are not permitted, provide students a safe place to be who are easily influenced by peer pressure to drink and use other drugs (Finn, 2). Beth Wallace, Director of Health Services at Wofford College in South Carolina said, â€Å"By being able to set up an area that is more wellness conscious, we can show that our school supports a wellness norm. We hope the area will grow each year. It is one way in which we can change the whole environment of college to make alcohol a less significant focus of social activity.† When students drink in excess, resulting in intoxication, many participate in reckless behavior, due to the effects on the brain. Often, this recklessness is taken out on buildings or property. Vandalism-related repair expenses are extremely expensive, especially because this problem could be extinguished. At Western Washington University, Nash Hall’s vandalism costs dropped from thousands of dollars to just sixty dollars per year, after the residence hall went substance-free. The university’s other halls’ vandalism expenses remained the same, as they did not become substance-free. At Washington UniversityShow MoreRelatedEffects Of On Campus Housing On College Students Drinking Behavior1565 Words   |  7 PagesEffects of on-campus housing on college students’ drinking behavior: A Literature Review Educational scholars have widely researched the effects of on-campus housing on the behavior of college students and one of the behavioral effects is on drinking behavior. 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Why Profits Of Product Industry Are So High Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 3919 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? As technology has advanced, retailers were able to improve their profit margins despite the prevailing competitive environment. They are well aware of their customers buying patterns and behavior. They know how to satisfy the needs and wants of their customers while saving a sufficient amount of profit margin for themselves. Don’t waste time! Our writers will create an original "Why Profits Of Product Industry Are So High Finance Essay" essay for you Create order The reason why product based industry is so very well able to understand the psyche of their customers and use it as their own advantage is the availability of sufficient tools and theories to understand the market mechanism and its related variables in detail. They are able to devise business strategies in accordance to their goals and objectives, and implement them effectively. If we glance at the service industry in the very same fashion, it is clearly visible that they are not as comfortable with their customers as product based industry. Though they are available with tools and theories to understand their market as well but it certainly is not in as much detail as product based industries. 1.1 Pricing for Banks Pricing is one of the chief variables of strategic marketing and it has the most significant and direct impact on the sales revenue of any organization, and even then there are a very few conceptual researches making precise suggestions about setting prices. According to a research, pricing of services has been even given lesser attention than product pricing. But since service is becoming gradually more important part of the economy, the need to be aware of more about the pricing of services has developed; banking being the most important. There are two pricing challenges unique to service pricing that services are intangible and irreplaceable. (Rob Docters, 2004). Finch identifies some other including inseparability of production and consumption, heterogeneity and perishability. (J.Howard Finch, 1998) Banking being more complex than other services makes it more interesting and to an extent more troublesome as well. Pricing banking services is an art in itself. Iuliana Cetine ( 2010), in her research says that for a bank the price is one of the fundamentals of the marketing mix. The prices ought to be in conformity with the other Ps (product, placement, promotion) and they have to not be taken as a merely financial problem, where they are calculated by adding a margin of profit to the estimated costs; pricing is much more to it. Depositing and lending are two core operations for a bank, pricing these deposits and loans can significantly affect the overall performance of banks; but a research shows that banking executives are not very much able to handle pricing so well. Talking about lending in particular, banks usually are not able to convert their goals and objectives into an effective pricing strategy. Many banks still rely on ancient ways of pricing and handling loans. They have acquired technology for risk-management purposes but acquiring technology for pricing is something banks still have not yet paid attention towards. (Iuliana Cetine, 2010) Frank Rohde, who is a chief marketing officer at Nomis Solutions, claims in one of his interviews to FST that pricing process of retail banks is fundamentally broken. He talks about the US banks and banks all over the world, mentioning about how banks price, he says that pricing executives come up with pricing strategy without any knowledge about the volume and profitability; profitability teams further come up with different sets of rates with a pure subjective judgment about the pricing behavior of the consumers and market fundamentals. They lack of information and proper analysis as they lack tools essential for these purposes, they are not able to set appropriate targets. Even if they do, they are unable to understand the reasons of deviations from the set targets and how exactly can they correct their policies. Pricing technology is necessary to understand the pricing mechanism properly. Pricing instead of taking as a side operation should built as a core competency by the ban ks. It directly influences the targets and revenues of the banks. Mr. Rohde further claims that the basic root of the credit crisis is that banks have not been able to translate their knowledge of market demand and profitability into a practical pricing strategy. (Rohde, 2008) 1.2 Pricing theories with respect to granting Loans As mentioned earlier, depositing and lending are two core areas of banking. This research will primarily focus on the lending part of the banking operations. It will take into account all the pricing strategies banks have been using in the past and the strategies that are still in practices with regard to the pricing of loans. It will identify the areas which are crucial for devising effective pricing strategies and the areas where these strategies lack. It will further identify aspects in which these strategies have affected and still affecting banks till present day. Banks may include retail banks, commercial banks, investment banks, community banks and much more. This study will be focusing more towards the working of retail banks. Retail banks work with consumers and small business enterprises. Investment banks being vast subject in its own will be completely excluded from this research. There a number of theories devised for pricing of banking products and specifically f or granting loans as well. Nora Mihail in her research identifies cost plus profit, taking the cream, price depending on competition, price depending on value and price to penetrate as basic theories for banking products including lending. (Iuliana Cetine, 2010) These terms are self explanatory; Cost plus profit calculates all the relevant costs and further adds a margin of profit to it, taking the cream is for high quality newly introduced products to take the cream demand, price depending on the competition takes the competitors prices as a base criteria, price on the market checks for the already settled prices at the market, price depending on value is based on the value of the service perceived by the customers whereas price to penetrate is charging a low price in the start to gain a substantial share in the beginning. (Iuliana Cetine, 2010) Traditionally flat-rate pricing has been in practice by most of the banks. In flat-rate pricing strategy all customers obtain the loan at the same pre-decided rate set by the bank. As the article published by Bench Mark Consulting International says that flat rate is used by the banks which lack technology to design a sophisticated policy and therefore use a flat rate to to keep it simple (King, 2007). The problem with flat rate loan is that high credit quality borrowers can get loans at cheaper prices because of the regular use of risk- based pricing methods (mentioned in detail later) whereas lower credit quality loans find this rate cheaper and this leads to a very risky equilibrium which prove to be futile for the bank. There is a clear line between the banks who use a thoroughly planned systematic approach to loan pricing and those who just go by the market. Thomas A. Hannagan in his study points out certain questionable practices of the banks. The first one he pointed out is the omission to add any costs related to the risk of the loan leading bad credits to obtain loan at a cheaper amounts. Another practi ce he questioned is baseless assumptions about the costs bank incur to originate and maintain existing borrowers and the third one is when lenders estimate a very large earning from a credit than it actually is. (Hannagan, 2004) Theorists often talk about risk-based pricing when it comes to pricing bank loans. Risk based pricing, in simple terms, is charging higher to the risky entities and lesser to the lower risk entities. It keeps in line, the loan price with the anticipated loan risk. As mentioned by KANSAS on its official website that this method allows the lender to obtain a level of return that is in accordance with the taken risk and it follows the principle of financial theory of risk and return. (KANSAS, 2010). Managers of known banks claim that, despite tough economic conditions, they are able to increase volume by following the risk based pricing. They instead of avoiding risk are opting for a suitable combination of risk and return; this can help them grow. Risk Base d Loan pricing can help in better risk management but there are certain drawbacks or in better words, limitations of risk based pricing. As Robert Phillips says that undoubtedly charging higher for higher is a sensible as well as profitable idea but this obviously is not final in pricing complexity. Risk-based pricing does not take a number of factors into account, one of which is the price sensitivity of customers into consideration. (Phillips, 2005) Bankers usually like this design in which lenders have better understanding of the available pricing options and the respective price is reached quickly. Lender can know in advance about the fee that will be charged to them and they can further look at the benefits of growth in total relationship with the bank. Hannangan says that can also use this loan pricing system to cross sell other fee based services of the bank. This gives rise to Relationship Based Pricing. (Hannagan, 2004) With the passage of time different non-banking f inancial institutions entered the place which was once the territory of banks. Banks faced a tough competition but did not lag behind. A basic rule of marketing any product or service is a differentiating factor. Relationship with the customer was a factor that banks could use as their differentiating factor to compete. Banks generally are likely to have long relationships and associations with their customers. This can build a loyalty factor among customers as well. Relationship pricing strategy takes the relationship with the customer as the basis to set a price. It usually takes into consideration, customers loyalty time, the total amount of business he provides, the frequency and type of transactions he does etc. (Relationship Pricing, 2010) A research on relationship banking supports this type of pricing by adding that the progress of bank-firm relationship can lead to benefits for the lender as well as borrower in terms of cost reduction or increased revenues and reduced ra tes. (Fredriksson, 2007) This kind of pricing takes into account all the services that a particular customer is availing. As mentioned by Thomas Hannagan, this pricing system can let lender receive benefits from the indirect ways such as deposit accounts. He states an example in which a borrower negotiated for a low-rate loan by guarantying to maintain a certain level of deposits in the bank which can help bank improve its return ratios. (Hannagan, 2004) Both the parties can negotiate for mutual benefit. SAP, a German software corporation providing software to support businesses globally, elaborates in its industry briefing about the pricing of banks. According to SAP banks have prospects to perk up their profitability by optimizing their price structure. (SAP, 2009) Bank instead of working on the price they need to sell at should focus on the price customers are willing to buy at. Simple pricing models only take monetary aspect of the transactions into account but advance models take all non price factors to give a true picture of rates and volume. Price optimization can help banks to come up with rates according to their growth strategy. If a bank plans to increase its profits without affecting volume, price optimization model comes up with a rate that bank needs to offer a particular chunk of customers and achieve its goal. Similarly if a bank intends to augment its volume with significant profits, the model calculates a price consumer intends to spend for a product in any area of business; it also shows how the pricing is balanced among loan products to maintain the overall strategy intended by the bank. (SAP, 2009) Pricing optimization allows executives to pull pricing as a core strategic driver of performance. Pricing should not be taken as a secondary function. Pricing should be treated as a core proficiency, it can be used a tool which can quickly and significantly influence the required results of the fiscal year. (Rohde, 2008) Banks can further use what-if analysis to alter the recommended strategy according to what is more feasible and comfortable to the suggested targets. Banks and other non-bank financial service providers who were relying merely on risk assessments have started employing value based approaches to pricing credit. The competitive environment in which banks are working in, value based pricing can help banks to continue with profitable growth. (David Vidal, 2009) A paper identifies certain structural guidelines to implement value based pricing; the steps researcher mentioned are identifying the factors that influence customers willingness to pay, define pricing segments along the structure identified, quantify ability to profitability change your pricing by measuring price elasticities and implementing the selected value based pricing approach using price optimization models. (David Vidal, 2009) Customer Loyalty is something that is extremely important for all the banks; it can be considered as one of the most valuable assets of a bank. Taking into account the aggressive environment, retaining customers is becoming increasingly difficult. Girish P B in his article says that retaining and increasing good business with a current profitable customer is more cost effective than targeting a new customer. Selection of a good pricing strategy can help banks retain profitable customers. (Girish, 2010) Moreover as mentioned earlier as well, pricing strategy has a direct influence on revenues and banking targets of a bank. A suitable pricing strategy can help bank increase its revenues, achieve targets, improve business ratios, increase business effectiveness, amplify its volume, improve on profitability, enlarge its customer base, and plenty of other factors important for a business. All these variables, their influencing variables and their relationship will be comprehended further in this study. INDUSTRY BACKGROUND Banking industry is the backbone of any economy. It is considered fundamental to economic growth. Banking industry alone can affect the entire economy, if banking industry of an economy is not working well; it will directly impact the working of the whole economy and vice versa. Banks in simple terms are described as financial institutions which accept deposits and issue loans. Banks extend loans to corporations and individuals to invest, handle savings and handle transactions. Though banking industry has evolved over time in economic, financial and technological aspects, the loan component of the banking has not advanced as much as the other services provided by banks. Banks have been able to handle their loans very well. Banks which extended credit have encountered loan defaults while other banks did not extend sufficient credit to perform well. Some banking executives and theorists claim the pricing component of the loans to lack. Banks cannot effectively price their loans ; some do not take all the pricing components into account while others which do, are unable to comprehend their behavior. Product based industries are available with sufficient pricing strategies to cater their needs. They are able to implement their strategic goals and objectives and excel in every dimension; as they can effectively translate their business strategies into pricing tactics. Banking professionals also have pricing theories for their assistance which have improved with the passage of time but despite focused considerations banks have not been able to perform up to the mark. This clearly indicates that either the pricing strategies bankers are available with are not enough or they lack in some key areas which still need to be addressed in order to completely understand the key influencing variables. Research Aim The aim of this research is to comprehend the pricing strategies and key influencing variables in pricing of loans, so that the banks are in a position to develop better performing and effective pricing strategies that alignment with their strategic business plans. Research Questions: Research question 1: In what aspects can pricing strategy be important for the banks with respect to granting loans? Research question 2: What factors are taken into account by Banks while devising their pricing strategy? Hypothesis Poor loan pricing strategy is the key factor due to which banks are unable to achieve their strategic business objectives Existing pricing theories cannot help banking loans to perform up to the mark Objectives Comprehend the strategies that banks use for pricing their loans Indentify and elaborate on the aspects that can be influenced by pricing strategies banks adopt for pricing their loans Identification of the most suitable loan pricing strategy and suggestion for further improvement in the weaker areas of existing loan pricing models and theories. METHODOLOGY Business researches, depending on the nature of a research, can usually be classified into three basic categories which are exploratory, descriptive and causal research. Exploratory research is carried out in the beginning stages of decision making when the decision circumstances are vague and management is very unsure about the nature of the problem. Descriptive research is carried out when the management knows about the problem but not completely aware of the entire situation. (Zikmund, 2001) This type of research answers who, what, where and how questions. Causal study is carried out when the problem is very clear, specific and sharply defined. The cause and effect relationship among the variables is identified. (Zikmund, 2001) This study will fall under the causal category of research. The problem of the study is clearly defined and the hypothesis are stated which would be defended further in the research. The problem area is the loan pricing and its causal relationships wit h other variables will be identified to further identify and discuss the areas where current loan pricing strategies lack. It may have a little tinge of descriptive category as well when the pricing strategies that banks have used in the past or are still using will be identified and elaborated upon. This research will primarily be based upon secondary data sources. Different studies of different authors from different corners of the globe will be thoroughly studied and scrutinized in order to get hold of the subject and get a complete understanding of the subject matter. All the direct, indirect, moderating and intervening variables will be identified, a theoretical framework will be designed identifying the relationship among the variables and their significance; they will be studied in detail to reach justifiable conclusions. Dependent variable is the variable of primary interest to the researcher. The researcher analyses the dependent variable to get his answers. Here in this study it may be the volume of the loan, the profitability or the effectiveness of the strategy (this will be dealt further in detail). The independent variable is the one which influences the dependent variable. In this case it may be the interest rates, economic repercussions, loyal relationship etc. A moderating variable has a strong effect on the relationship of direct and indirect variable. The intervening variable is a surface in time when indirect variable starts influencing and the time when its influence is felt. All the relevant literature, studies, theories will be examined. The empirical evidences and regressions run in other applicable studies will also be taken into account to deduce the relationship among variables. The objectives of the research will be kept in mind while examining other studies in order to stay focused. Hermeneutical text analysis will be used in the study to analyze and discuss the strategies used by banks for pricing their loans. Hermeneutic s is a research technique which is followed by an interpretive pattern on text scrutiny. Hermeneutics is widely used in social sciences including researches in economics and business. Hermeneutics is a method of research which allows the researcher to interpret the texts in its background and draw a meaning accordingly. In order to understand something properly, one needs to take it in context and one need to have knowledge about it, and hermeneutics allows the researcher to combine both of these necessary elements to gain complete understanding of the relevant text. Thus hermeneutics makes use of the blend of information and contexts to generate fresh facts and gain additional understanding in research (Cole Avison, 2007); as in order to draw legitimate and justifiable conclusions, it very important to know about the social, political, economic and historical aspects of an event. Hermeneutics comprises of five concepts: the hermeneutic cycle, the hermeneutic horizon, fusion of horizons, rejection of author-intentionality and critique (Mir Prasad, 2002) A research on hermeneutics says that Hermeneutics means the theory of interpretation, i.e. the theory of achieving an understanding of texts, utterances, and so on (it does not mean a certain twentieth-century philosophical movement) (Forster, 2007) Hermeneutics is the research method in the field of text analysis which offers the researcher to interpret texts in their context and therefore derive meaning. As knowledge about something needs both information and context, hermeneutics enable to combine both to gain understanding. In social sciences the historical, political, economic and social backgrounds of phenomena have to be analyzed carefully to draw correct and legitimate conclusions (Mir Prasad, 2002). The major philosophy and concept of hermeneutics is its cycle. The cycle states that the part can only be understood from the whole and the whole can only be understood from the parts. (Mir Prasad, 2002) This means that in order to get the complete understanding of the parts, one need to know about the context and the whole scenario and in order to understand the whole scenario, one need to have a complete understanding of the parts. The social and cultural aspects are also taken into consideration. Not only the research subject is what the analysis will be based on but a separate analysis of the context is also required. While studying loan pricing, not only the directly related variables are taken into account, the environment in which those variables work has also to be taken into account to get an enhanced understanding of the working of actual variables. Timescale The way this research will be carried out is suitably planned; expected time for each part of the study is also determined. Things will take place exactly according to the pre-determined plans as this will help us give appropriate time to each section and as well as finish the study on time. In order to work in a systematic manner, keeping the time constraint in mind, the analysis part of the report is divided into four sub-parts, relevant data collection, analysis of the data collected, further analysis and final deductions. As this study is based on secondary data, analysis and data collection are the cornerstones of this study. Therefore, these stages will be carried out with utmost care. Following table shows how the time divided among different stages of the research: Sr.no. Task No of Weeks 1 Literature review 5 2 Analysis Relevant Data Collection 4 3 Analysis of Data Collected 4 4 Further Analysis and Data Collection 5 5 Analysis Final Deduction 3 6 Final Report write up 4 7 Final Presentation write up 1 8 Presentation Preparation 1 Though the planned will be followed strictly, still a room for delays is kept in mind. Some tasks (most likely analysis and literature review) may require extra time depending on the situation. If such things happen which is not very likely, we can use the room kept for delays or we can reduce time from other stages if they can be completely early without any compromise with the quality of work. Resources This study is not very costly to conduct, since it is relying on secondary sources for data. No primary activities will be carried out at any business locations. Access to Business and Marketing Journals is the major resource needed for this research. Access to quality data is major requirement and something that will significantly influence the quality of this research work. Moreover a computer with an online access to articles is all what is needed.