Legal institutions in the financial market - Free Essay Example

Sample details Pages: 8 Words: 2476 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Legal Institutions and rules are essential to building up strong and vibrant financial markets. Do you agree? As has been acknowledged by many writers, financial markets rely on laws and regulations to ensure that financial transactions occur in predictable ways. This is important for the efficient functioning of markets, as the more confident the participants in said markets are in the laws governing transactions, the more likely they will be to invest, and the more significant their investments. Indeed, given that any free market economy is dependent on the repeated actions and interactions between buyers and sellers of goods and services, some legal protection for both will be vital to ensure that markets remain stable in the long term. However, the generally accepted view is that the law has historically needed to be well developed and consistently applied in order to generate this long term stability. Indeed, as early as the 18th century, Adam Smith (1776) argued that, in order to function properly, markets needed to be guided and regulated to avoid exploitation. Whilst Adam Smith is often cited as promoting minimal outside interference in markets, he nevertheless realised that the à ¢Ã¢â€š ¬Ã‹Å"Invisible Handà ¢Ã¢â€š ¬Ã¢â€ž ¢ needed a strong legal framework and basis in order to be effective. However, Chase (1971) argues that there are numerous laws and regulations which actually interfere with the efficient operation of many intermediaries in financial markets. Whilst Chaseà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1971) work mainly focuses on laws affecting the depositing of funds, the laws as a whole place significant restrictions on new firms entering financial markets, place restrictions on mergers and acquisitions, restrict investment portfolio regulations, and often include mandatory, and inefficient, insurance programs to reduce the risk to external participants. Whilst supporters of these laws claim that they reduce the tendency for interna l participants to take excess risks with external participantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ investments, Chase (1971) argue that they also reduce competition and innovation, thus acting to redcue the performance of markets. Hence, whilst they may increase the security and reliability of transactions, this is not necessarily good for investors who wish to voluntarily sacrifice security for additional performance. Further to this, Strahilevitz (2007) argues that laws and legal interventions can actually pose a threat to the development of more advanced forms of market activity, such as social production. Indeed, this argument is based on the fact that the existing legal and institutional framework actually acts to maintain the status quo, hence reducing the chance that initiatives such as social production will increase market participation and help reduce the gap between the rich and the poor. However, Walker (2000) makes the point that, whereas traditional markets involve exchanging goods o r services for payment, financial markets are fundamentally based on exchanging money in expectation of future rewards. These rewards may be interest, potential capital appreciation, or a right to future corporate earnings, but the key factor is that the promised returns must be creditable. As such, legal rules and frameworks such as bankruptcy provisions and loan securities, together with recourse to the courts should there be a dispute over a debt or a contract, are vital for ensuring this credibility. In particular, Walker cites and analyses the Asian financial crisis as an example of how inadequate security and creditworthiness in the global financial market triggered a major crisis. However, whilst Walker (2000) argues that the legal and regulatory framework should develop with the market, in order to support ongoing financial stability; this is often not what occurs in real life. Instead, regulations such as Basel II and Sarbanes-Oxley were created and enacted only in response to issues, such as the Enron fraud, as said issues arose. Indeed, there are growing arguments in favour of embracing the concept of the social market economy, whereby the market is regulated by social cohesion, with only a basic framework of legal rules and regulations. As such, the normalisation of transactions in the market is driven by shared cultural values and common interpretations of fairness and reliability. There is still recourse to the courts for any major issues encountered in the markets, but the spirit of the agreements between buyers, sellers and intermediaries is considered, rather than the letter of the agreements. As such, the market has more of a constitutional status than a legal and regulatory focus (Ebner, 2006). Whilst this type of market will likely require more conceptual development before it can be made viable on a large scale, it offers the chance to move away from constricting and reactive legal and regulatory frameworks and towards a more holistic m odel of the market. However, in the short term, it is clear that legal rules are still a vital component of a well functioning market economy. Gianetti (2003) argues that legal rules, along with firm characteristics and financial development, are vital factors in the raising of corporate finance; which in itself is a vital part of any financial market. As part of this argument, Gianetti (2003) demonstrates that rules providing a good level of protection for creditors increase the flow of capital within the market, particularly for unsecured loans or firms operating in volatile sectors. This is particularly important in developing nations, where their stock market is less advanced; as the majority of firms will unlisted and thus will need to raise more finance from debt, rather than equity. In addition, providing legal rules which support the rights of creditors, and provide functioning enforcement mechanisms, tends to increase the amout of long term debt available to firms (Giann etti, 2003). However, Bar-Gill and Fershtman (2004) argue that legal rules have a more important role than simply incentivising markets; rather the rules actually change participantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ preferences and behaviours. As such, given that free markets invariably encourage participantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ self interests, it is necessary to understand how laws and regulations affect preferences and behaviour, as well as how they affect outcomes. As such, Bar-Gill and Fershtman (2004) argue that legal rules must be created to address all individual concerns, particularly their concerns around being treated fairly, in order to encourage efficient and productive behaviour by market participants. As such, legal rules such as enhancing the remedies available to participants for breaches of contract will likely reduce the equilibrium preferences for fairness, as the participants seek contracts which are more advantageous for themselves. However, Kerwer (2005) argues that the e fficient regulation of financial markets needs to move away from rigid legal rules, and towards more voluntary and alternative options such as best practice rules and standards. This is based on the claim that, where these standards can be agreed, they can be highly effective in moderating behaviour, to a greater extent than rigid legal rules. In particular, standards have influence because they are based on the knowledge and expertise of the market participants, rather than being driven by outside institutional agencies, and will thus be more acceptable for states which want to maintain their regulatory autonomy. For example, the Sarbanes-Oxley legislation was passed by the US Senate, and thus creates problems for firms looking to do business in the United States, whilst being based in a nation which has not adopted the Sarbanes-Oxley requirements. In addition, Kerwer (2005) argues that global standard setters can often be held more accountable than regulatory institutions setting legal rules, as the standard setters will answer to the market, not to the government. This implies that standards could play an important future role in market regulation. Rodrik and Subramanian (2003) argue that institutions are vital to the development, regulation and maintenance of stable financial markets. However, they acknowledge that there is no one institutional framework which will be suitable for all settings, with many different nations having different institutional frameworks with varying degrees of success. Indeed, this is supported by Stephen et al (2005) who argue that whilst institutions are important in promoting entrepreneurial activity in both developing and developed nations, nations need to take a contingent approach to the development of said institutions. Stephen et alà ¢Ã¢â€š ¬Ã¢â€ž ¢s (2005) work supports the fact that legal rules and institutions need to protect creditors and investors, in order for financial markets and economies to grow. However, th ere are no such prescriptive solutions for the nature of the institutions needed to support this growth. This argument is further developed by Teubner (2002) who argues that the process of globalisation is deconstructing the traditional framework of legal and institutional norms; making pluralism a driving force in formation of global markets. As such, a new framework for legal and regulatory institutions is required if said institutions are to remain relevant in the modern global economy. A similar argument has led Ramirez (2007) to argue that the legal structure underlying corporate governance standards in the United States, and the wider world, needs to be altered to reflect this changing nature. In particular, the inherent nature of corporate governance implies that it should be based upon the verdicts and influence of the market. This implies that corporate governance best practice and à ¢Ã¢â€š ¬Ã‹Å"scienceà ¢Ã¢â€š ¬Ã¢â€ž ¢ should be used to largely replace the current ins titutional framework, as these institutions are largely driven by political concerns and are thus poorly equipped to impose relevant standards (Ramirez, 2007). In spite of the growing backlash against the institutional dominance of the financial markets, many academics continue to argue that legal and regulatory institutions are essential to maintain strong financial markets. This is largely due to the fact that institutions set up to protect investors have been shown to increase the strength of markets by reducing and controlling information asymmetries (Black, 2001). In addition, Musacchio (2008) argues that institutions are vital in ensuring continued creditor protections and the enforcement of financial contracts such as bond contracts. However, Musacchio (2008) also argues that institutions are somewhat constrained by past legal traditions, and thus have an inherent tendency to be backwards looking when attempting to regulate markets. Oà ¢Ã¢â€š ¬Ã¢â€ž ¢Driscoll and Hoskins (2006) also recognise this backwards looking tendency, however they argue that this is largely restricted to government institutions. As such, they claim that markets are characterised and governed by both prices, and by market rules and institutions, with government institutions often undermining the existing system of market based regulation. However, it is important to recognise that some institutions do not always act to support the economy; rather they use the legal frameworks and existing institutions to act against the market for their own self interest. By far the most well known of these institutions are the trade unions, who have been argue to both promote and reduce levels of economic efficiency and social welfare in markets (Kaufman, 2005). This is because the trade unions are well versed in the rigid legal rules and regulations, and thus are able to use them to their advantage by arguing that the laws they are using are designed to increase social welfare. They also take advantage of the fact that many lawyers will be systematically optimistic about their ability to use the legal frameworks to their advantage in court. As such, they will frequently use the threat of litigation, and its associated costs, to force any opponents into a favourable settlement (Bar-Gill, 2006). This is argued to be due to the current design of the legal and institutional framework, which serves to support any court action against market participants, thus arguably decreasing the efficiency of the markets and placing a financial burden on participants. As such, it is clear from both sides of the argument that legal rules and institutions are essential components of a strong market. Without them, unscrupulous participants would be able to operate with impunity, breaking contracts and failing to repay loans. Whilst internal market regulations could impose penalties on these participants, without the backing of legal rules and institutions, there would be no effective way of enforcing these penalties. However, whilst there is a strong argument in favour of a strong, basic legal framework to protect creditors and enforce contracts, there is also an argument that any further regulation is better performed by market based institutions, rather than legal rules and government institutions. In particular, critics of legal regulation argue that the Sarbanes-Oxley Act in the United States has damaged the American financial markets, whilst the market based Financial Services Authority in the UK has helped increase the UK marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitiveness by providing a more market based form of regulation (Bloomberg and Schumer, 2007). This market driven regulation also helps reduce the occurrence of corporate lawsuits in the UK, thus further reducing the burden on market participants. As such, whilst legal rules and institutions are vital parts of strong, stable markets, it is important to recognise that they should only form part of the overall market framework, and should not be used to the exclusion of other factors such as best practice, market standards and market based institutions. References Bar-Gill, O. (2006) The Evolution and Persistence of Optimism in Litigation. Journal of Law, Economics Organization; Vol. 22, Issue 2, p. 490-507. Bar-Gill, O. and Fershtman, C. (2004) Law and Preferences. Journal of Law, Economics Organization; Vol. 20, Issue 2, p. 331-353. Black, B. S. (2001) The Legal And Institutional Preconditions For Strong Securities Markets. UCLA Law Review; Vol. 48, Issue 4, p. 781. Bloomberg, M. R. and Schumer, C. E. (2007) Sustaining New Yorkà ¢Ã¢â€š ¬Ã¢â€ž ¢s and the USà ¢Ã¢â€š ¬Ã¢â€ž ¢ Global Financial Services Leadership. City of New York / United States Senate. Chase Jr., S. B. (1971) Financial Structure and Regulation: Some Knotty Problems. Journal of Finance; Vol. 26, Issue 2, p. 585-597. Cranston, R. (2003) Principles of Banking Law: 2nd Edition. Oxford: Oxford University Press. Ebner, A. (2006) The intellectual foundations of the social market economy. Journal of Economic Studies; Vol. 33, Issue 3, p. 206-223. Giannetti, M. (2003) Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices. Journal of Financial Quantitative Analysis; Vol. 38, Issue 1, p. 185-212. Kaufman, B. E. (2005) Historical Insights: The Early Institutionalists on Trade Unionism and Labor Policy. Journal of Labor Research; Vol. 26, Issue 1, p. 1-32. Kerwer, D. (2005) Rules that Many Use: Standards and Global Regulation. Governance; Vol. 18, Issue 4, p. 611-632. Musacchio, A. (2008) Can Civil Law Countries Get Good Institutions? Lessons from the History of Creditor Rights and Bond Markets in Brazil. Journal of Economic History; Vol. 68, Issue 1, p. 80-108. ODriscoll Jr., G. P. and Hoskins, L. (2006) The Case For Market-Based Regulation. CATO Journal; Vol. 26, Issue 3, p. 469-487. Ramirez, S. A. (2007) The End of Corporate Governance Law: Optimizing Regulatory Structures for a Race to the Top. Yale Journal on Regulation; Vol. 24, Issue 2, p. 313-359. Rodrik, D. and Subramanian, A. (2003) The Primacy of Institutions. Finance and Development; Vol. 40, Issue 2, p. 31-34. Smith, A. (1776) An Inquiry Into The Nature And Causes Of The Wealth Of Nations. London: The Adam Smith Institute. Stephen, F. H. Urbano, D. and van Hemmen, S. (2005) The impact of institutions on entrepreneurial activity. Managerial Decision Economics; Vol. 26, Issue 7, p. 413-419. Strahilevitz, L. J. (2007) Wealth Without Markets? Yale Law Journal; Vol. 116, Issue 7, p. 1472-1516. Walker, J. L. (2000) Building the Legal and Regulatory Framework. Building an Infrastructure for Financial Stability, Conference Series No. 44, Rosengren, E. S. and Jordan, J. S. (Eds) Paper presented at the Conference of the Federal Reserve Bank of Boston; June 2000, p. 31-66. Don’t waste time! Our writers will create an original "Legal institutions in the financial market" essay for you Create order

Business Opening - 811 Words

Opening up a business may be one of the hardest things one can do. There is a great amount of effort that goes into creating a business and even greater effort to make it successful. Before opening a business, owners are obligated to keep fresh, open ideas, have good management, and being able to financially sustain their business. Even this may not be enough to create a striving, successful business. There are many factors that go into whether a business is successful or a failure. One of the main reasons why small businesses fail is because of the owners/entrepreneurs themselves. This mainly goes for poor management skills that bring businesses to their demise. Owners who are stubborn, greedy, and self-righteous often don’t do what’s†¦show more content†¦Also, all successful businesses must know how to give the people what they need. Social networking is a great way of finding out what consumers need and what they are mostly looking for. It is also a great way to advertise products/services that they are offering and persuading the people to buy from them. Blockbuster has come a long way since its beginning in 1985. They were once the leading competitor in the movie distribution business, but came to a downfall due to some mistakes. In theory, Blockbuster was bound to fail due to technological advances that would hurt them. Blockbuster was not able to adapt to these changes, and continued to invest more money into this declining business. According to the article â€Å"Blockbuster Bankruptcy: How bad business Led to Demise†, the company filed for bankruptcy just weeks before its 25th birthday. Instead of getting out while they could’ve, their managers decided to waste more money on schemes to attempt to keep the business alive. Netflix is one of the most popular movie franchises in the world, if not the most. Something as simple as renting movies has been able to become a multi-billion dollar business in a matter of years. It may seem like it all happened overnight, but in reality it took Netflix years to become as successful as it is today. According to the â€Å"Secrets of my success: Netflix† article, the genesis of the Netflix idea came in 1997. It started off as a movie-rental business in the mail and quicklyShow MoreRelatedOpening a Business in Singapore462 Words   |  2 PagesThe law allows any person above the age of 18 to register a company in Singapore. Types of company formations Before you can dream of registering your company you must know the different types of Singapore company formations and know the requirements needed for each and every type of formation. There are several types of company formations including sole proprietorships, partnerships, public companies and limited companies. Different types of companies have different sets of laws governing theirRead MoreEntrepreneurship Is The Process Of Opening A New Business741 Words   |  3 PagesEntrepreneurship is the process of opening a new business; typically the company offers an innovative product, process or service. As per Carton et al, entrepreneurship is all about the identification of an opportunity, creation of new organization, and pursuing new ventures. There are many various studies based on entrepreneurship (directly as well as indirectly) like building and promoting a business, applying creativity to make an existing business more productive, external skills required inRead MoreEssay O n Opening A Business1548 Words   |  7 PagesConstruct force. Longing for propelling a business will just get you up until this point. You need to follow up on your vision eventually. Make sense of something that will constrain you into movement, says Holdford. That could be going to systems administration occasions or, in case youre unemployed, taking a between time work that will get you once more into the routine of working. Never let the law of inactivity grab hold. On the off chance that you sit home sufficiently long, that latencyRead MoreBusiness Writing Portfolio1103 Words   |  5 PagesBusiness Writing Portfolio Jordan Pappas COM/285 February 27th, 2011 Randi Plante Business Writing Portfolio Part I: Business Writing Steps. Audience: Store Manager Store Employees Customers and the public Message Format: Business Letter- Store Manager Business Memo- Store Employees Email Message- Customers and Public Part II: Portfolio Letter: 1456 Duke St. Alexandria, VA 22314 February 27, 2011 Dear Store Manager, Due to rising gas prices store policy on employeeRead MoreThe Room - Original Writing884 Words   |  4 Pagesfront of an empty room. I figured there must have been a reason for it being there so I walked inside and started to search around. As I was searching I heard a faint voice. It sounded like a young woman. Get out of this place you fool. You have no business here. The voice loudly whispered (Oxymoron). whoa, who was that? Mom, is that you? I stuttered. I spun my head both ways over and over again. Fine, if you want to stay here I guess I will let you. The voice said greedily. Huh? This reallyRead MoreSkadurz Pro1376 Words   |  6 Pagespossible disadvantage of keeping the New Sudbury location would mean that sales may decrease due to the competition of a large retail chain opening across the street from Skadurz Pro. In the end I think the benefits outweigh the possible disadvantage to the company and I think Skadurz Pro should remain at the new Sudbury location where the c ompetition West 49 is opening and close the South End location. By doing so St. Marseille would not need to hire a new manager and would not have the operating expensesRead MoreEffects Of Opening The Catering Business992 Words   |  4 Pages Introduction In order to understand the effects of opening the catering business, I looked at variable and absorption costing to figure out which method would be better suited for internal and external reporting in the past and future. In addition, I delved deeper to understand the cost breakdown of the new products which helped identify a capital budget that will help us determine the validity of opening the catering business. Inventory Effect on Net Income For November, there was anRead MoreSwot Analysis : Opening A Business1144 Words   |  5 PagesOpening a Business is no easy task and deciding to open one will present many challenges. Some of the things to figure our before you can get proper investors would be a business plan and probably a Strengths Weaknesses opportunities and threats analysis, Long for the SWOT analysis. Investors will most likely not entertain your business unless you have a drawn out plan on how things will operate and how revenue will be made after your analysis research. Knowing how to make and how to read an analysisRead MoreEffects Of Opening The Catering Business991 Words   |  4 PagesFindings In order to understand the effects of opening the catering business, I looked at variable and absorption costing to figure out which method would be better suited for internal and external reporting in the past and future. In addition, I delved deeper to understand the cost breakdown of the new products which helped form a capital budget that will help us determine the validity of opening the catering business. Inventory Effect on Net Income For November, there was an ending inventoryRead MoreEssay On Opening A Business In New Zealand1177 Words   |  5 PagesAre you interested in opening a business in New Zealand? Great, New Zealand is an opportune place for both investors and entrepreneurs alike! According to the 2016 World Bank Doing Business survey, New Zealand is both the, â€Å"The easiest place in the world to start a business†, and, â€Å"The easiest country in the world to do business in.† When considering taking your business global, there are many factors to take into consideration and New Zealand tops the list in all of them. New Zealand recently

Comparing Composed Upon Westminster Bridge by William...

Comparison between William Blake and William Wordsworth’s Views of London William Blake grew up in the slums of London and this is shown in his poem, he wrote his poem in the slums and back alleys of London as he never had very much money. He describes London as being â€Å"charter’d†, this gives us the impression that everything has rules and boundaries in London, and that there is no mystery to be discovered. Also chartered means on a map, almost as if it is owned, by the king perhaps. The line in which the word is on, â€Å"I wander through each charter’d street, near where the charter’d Thames does flow,† makes us feel as if every thing is owned and nothing is natural, like all the people in London are prisoners of society The ending†¦show more content†¦This could also have two meanings, as it could mean that the harlots could catch a deadly sexually transmitted disease, or it could also mean that they had little means of contraception, and this would lead to childbirth which was very dangerous at the time. In the final line of the poem Blake uses a shocking line as he says, â€Å"And blights which plagues the marriage-hearse.† This ties in with the previous line as this is a reference to a new life, â€Å"marriage† and death, â€Å"hearse† this could be linked to the fact that, if the â€Å"harlot† were to give birth, then there is a very real chance she could die while she is giving birth to the child, which is the new life. I will now discuss William Wordsworth’s view of London and his background. William Wordsworth did not grow up in London, so he did not know the hardships of growing up there. Wordsworth grew up in the Lake District and moved to London when he was an adult, he was also a lot richer than Blake so he moved to the higher class part of London. He did not see London though the same eyes as Blake. William Wordsworth talks about London in a very different way than Blake, as this is how he sees it. Wordsworth almost describes London as if it were a lady, rather than a city. â€Å"This City now doth, like a garment, wear†, the reason he used this phase, is to create a vision in our head of the magnificent view of London’s landscape, this vision is also created by the line, â€Å"Ships, towers, domes, theatres,Show MoreRelatedComparing the Poets Use of Language To Present Their View of London in Composed Upon Westminster Bridge by Wordsworth and London by Blake1571 Words   |  7 PagesComparing the Poets Use of Language To Present Their View of London in Composed Upon Westminster Bridge by Wordsworth and London by Blake London was, is and undoubtedly always will be, a city of enormous interest and controversy, especially for those employed in the field of writing. The two poems, Composed Upon Westminster Bridge, 1802, by William Wordsworth and London, 1794, by William Blake, demonstrate this through their opposing views. The intention of both WilliamRead MoreWilliam Blake And William Wordsworth1099 Words   |  5 Pagesthose poets are William Blake and William Wordsworth. Although Blake was a contemporary of the era, he had a little in common with Wordsworth. Religion is the focus of Blake’s visionary works, which does not exist in any other Romantic poetry. William Blake uses satire in most of his work to criticize the corrupting influence of religion on imagination. For Wordsworth, nature was like a religion. He talks about his own spiritual life when he refers to nature. According to Wordsworth, being alive meantRead MoreEssay on Compare London and Composed upon Westminster Bridge2519 Words   |  11 PagesCompare London by William Blake and Composed upon Westminster Bridge, September 3rd 1802 by William Wordsworth. As a part of my coursework for GCSE English, I will be comparing two poems written about London in nineteenth century. The two poems I have chosen to write about are: London by William Blake and Composed upon Westminster Bridge, September 3rd 1802 by William Wordsworth. Both poems give their own, different accounts of London at around the same period. One is written with a

What is Enlightenment by Immanuel Kant - 607 Words

In this paper I will be talking about the article â€Å"What is Enlightenment† by Immanuel Kant. In this paper I will be answering the question that was given at the end of the article. I will talk about what enlightenment and what it entails. What tutelage is according to Kant? Also explain what Kant thought about the subject. What are the conditions for the gradual spread of enlightenment in the community? These are some of the questions that I will be answering in the essay and also give my opinion of the article. This is article is about Enlightenment and what enlightenment entails. He answers the question in the first sentence of the essay. According to Kant â€Å"Enlightenment is mans release from his self-incurred tutelage† which mean that man has to dare to able to learn. The main argument of the article is that immaturity and being lazy as the main reason for not reaching enlightenment and not lack of understanding. This is what he called tutelage (Kant, 1). According to Kant tutelage is mans lack of ability to make use of his or her understanding without direction from another person. He understands that most people are very content of following the guideline set by people such as the Church or the Royals in that are in charge. They are so content with this that does want to throw off their naivetà © due to the lack of wanting to be independent. This is why he thinks it hard for individuals to accomplish enlightenment (Kant, 1-3). Kant gives many reasons why people areShow MoreRelatedThe Nature of Existence and the Existence of Nature Essay examples1643 Words   |  7 Pagesof reason helps man understand why and not just what? This concept stemmed mainly from philosophers during the Enlightenment. Learning something for the first time that is accepted to be true, for example mathematics and various proofs, usually ends with us adding that to our plethora of knowledge to ace the next test. However, before the Enlightenment many people believed that through learning, or experience, something comes to exist. Immanuel Kant ended up to be the most influential philosopherRead MoreThe Enlightenment : The Greatest Impact Of The Enlightenment945 Words   |  4 Pageswould be very different if the Enlightenment did not occur in the 18th century. With people like Immanuel Kant, Baron de Montesquieu, and John Locke, the Enlightenment was one of the most revolutionary events to ever occur. For example, Immanuel Kant exp lored human experiences, Montesquieu believed that there should be three branches of government, and John Locke believed in the social contract and the ability to own life, liberty and property. The ideas of the Enlightenment drastically changed the worldRead MoreKant : The Father Of Enlightenment1071 Words   |  5 PagesStanford Marquis Essay 2 Kant: The Father of Enlightenment The 18th Century is referred to as the Age of Reason or Enlightenment as it was during this period that reason and individualism was advocated as a means of power. Science and reason were revolutionizing society by challenging the facts deeply rooted in tradition. This new rational way of thinking used logic to arrive at conclusions. Immanuel Kant, a German philosopher, was one of the primary figures of this era that cultivated reason andRead MoreThe Ideal Ruler Of Kant s Ruler1070 Words   |  5 Pagesproposed by an Enlightenment writer, Immanuel Kant. Although Niccolà ² Machiavelli and Immanuel Kant lived 250 years apart, both views have advantages and disadvantages in leading a country, Kant s ruler is a early model of a democratic ruler while Machiavelli s ruler was an ideal model for a absolute monarch. Immanuel Kant s view of an ideal leader is more beneficial to the European society during the Enlightenment since it reflect the characteristics of a democratic ruler. The idea l ruler Kant describesRead MoreThe 18th Century Enlightenment1487 Words   |  6 Pages Upon analyzing the contemporaries of the 18th century enlightenment period, it is important to note that the idea of â€Å"change† caused unease and anxiety to settle in. The enlightenment was a European philosophical movement led by philosophers, Kant, Voltaire, Rousseau, Hobbes, and Locke. These thinkers began to question the way of life in the contemporary world and discussed the potential of â€Å"man†. Immanuel Kant hypothesized that man is immature and has yet to find his true potential. QuestioningRead More Was The Enlightenment Really The Age of Reason? Essay1569 Words   |  7 Pagesof insight to another† Immanuel Kant. Kant’s opinion of reason is that it is a force, which is ever-evolving and constantly building on previous insights. The Enlightenment is a historical period referring to the intellectual movement that swept across Europe in the 18th cent ury. To tackle this question, I will be looking at two texts. The essays, ‘An Answer to the Question: What is Enlightenment’ by Immanuel Kant, an 18th century philosopher, and ‘What is Enlightenment’ by Michel Foucault, a 20thRead MoreEssay on Immanuel Kant (1724 - 1804)1093 Words   |  5 PagesImmanuel Kant (1724 - 1804) Author of Foundations of the Metaphysics of Morals (1785). The Enlightenment was a desire for human affairs to be guided by rationality than by faith, superstition, or revelation; a belief in the power of human reason to change society and liberate the individual from the restraints of custom or arbitrary authority; all backed up by a world view increasingly validated by science rather than by religion or tradition. (Outram 1995) In the eighteenth centuryRead MoreFrench Revolution Vs. Immanuel Kant1265 Words   |  6 PagesDWC 201, Dr. Moffett Allison Lancaster Essay #1 French Revolution vs. Immanuel Kant In 1614, France’s Population changed dramatically. The citizens were placed in three classes of rank in society. These classes consisted of the Nobels, who were born of royal blood, the Aristocrats, who were independently wealthy, and then the rest of the population who were less fortunate in life. These non-aristocratic members made up 98 percent of the Third Estate, but even so, could still be outvotedRead MoreThe Future Of Enlightenment996 Words   |  4 PagesFuture of Enlightenment Balpreet Palha 214985881 Submitted in partial fulfillment of the requirements of HUMA 1910, York University Mark Terry, TA†¨ Tutorial # 3 Enlightenment was a prevalent topic in the 18th century. In 1784 Kant, Immanuel wrote An Answer to the Question: What is Enlightenment?. In which Kant sheds light on the distinction between public and private reason using many different instances. Kant proposes that public use of freedom is essential for enlightenment, but saysRead MoreThe French Revolution And The Enlightenment1601 Words   |  7 PagesThe Enlightenment was an extensive intellectual, philosophical, and cultural movement that spread throughout Europe, predominantly England, France and Germany during the 18th century. The Scientific Revolution, which began in the 16th century, gave way to a new and revolutionary way of thinking. It encouraged independent thought, the capacity to ask questions, and a progressive attitude. Additionally, the enlightenment arose during a time when there was absolute monarchy and an extremely powerful

A DollS House Argumentative Essay Example For Students

A DollS House Argumentative Essay A Dolls house, by Henrik Ibsen has set out some serious questions which must be taken into account before judging Noras character. Nora, being the main character in the play represents the doll that makes such trivial decisions, and giving us (the readers) the impression that she is immature. Many questions have been raised regarding the rights a woman should be given, but I would be particularly discussing my viewpoint on feminism, freedom and society. However, there are many other related questions which may also be of greater significance. The first question which I found as a reader was Would The Dolls House be considered as a feminist play? I would rather call it too feminist because it has been outlined in many ways. There are many examples in the play where Torvald treats Nora badly and insults her feminist nature, but this is not seen directly. For example, he calls her pet names such as squirrel and skylark. He also uses the word little, a connotation showing her child-like nature that emphasizes the fact that she is fragile. Torvald always says this in a loving manner, but Nora does not realize until the end of the play that she has just been treated like an obedient pet. She also has no importance in the house; we see this when she hesitates to make trivial decisions. For example, she asks Torvald what she must wear and prepare for the ball. This is because her husband never talked to her like an adult, not letting her decide upon things and more importantly playing with her like his pet doll. At the end of the book, Torvald, says thats just like a woman. Were women useless at that time? I personally believe that all individual has equal rights, or at least the opportunity to be independent. Torvald, like every other husband believed that all women were capable of doing nothing, but spending money which was why he called her a spendthrift. Another question raised by this play is: How does Noras character have an impact on the role of women? The role of women was self-sacrificial, mainly depending on their marital status. Married women were treated differently than single women. This is seen in many instances. However, Ibsen believes that all women must have equal rights and this statement has been highlighted appropriately. He thought marriage was a trap, and it could be seen through Noras character. Nora was a typical woman of the olden times who had all the characteristics of a doll until the end, when she realizes that she must consider growing up and create her own identity. Nora was her husbands pet and he wanted her to stay just because he was concerned about his reputation. We see this clearly when Nora says you werent concerned about me but only what might happen to you- and when all danger was past, you acted as though nothing had happened. Arent women allowed to be given individuality? Women were rather uneducated, hence not allowed to borrow money or take a loan; it was against the societys norms. They needed the authority of the man who owned them; this also emphasizes the fact that it was a male dominant society. They were also restricted to stay at home; taking care of their children. Nora had identical roles to those of the women at that time. On the other hand, single woman like Miss linde had the opportunity to work but was forced to do low-paid and boring jobs. My final question would be: Was it a male dominant society? Ibsen reflects this viewpoint in many ways, such as the relationship between Mr. and Mrs. Helmer. In their little home, Torvald is the superior member, who makes all the decisions and keeps very little to Nora and not sharing serious talks. He treats her like his fancy doll, and is concerned about her attractive appearance rather than her happiness. He is merely living on the societys conditions and wants to be respected. We also see this when he refuses to give Krogstad his job back; people would think he has been influenced by his wife. Although he had an argument with Nora, he wanted her to stay (after receiving the I.O.U) because he was worried that people might not respect him as mjch as before. But Nora learns to be independent from this experience, and realizes her self esteem needs. She knows that her life is restricted to being a wife and a mother in a male dominant society, which is why she leaves. Torvald does not even show love and attention when she leaves whereas he is concerned about his status. This is how Ibsen emphasizes the rights of a woman in a male dominant society. .uaa52d155e30312b5ee4943353c8f7a7d , .uaa52d155e30312b5ee4943353c8f7a7d .postImageUrl , .uaa52d155e30312b5ee4943353c8f7a7d .centered-text-area { min-height: 80px; position: relative; } .uaa52d155e30312b5ee4943353c8f7a7d , .uaa52d155e30312b5ee4943353c8f7a7d:hover , .uaa52d155e30312b5ee4943353c8f7a7d:visited , .uaa52d155e30312b5ee4943353c8f7a7d:active { border:0!important; } .uaa52d155e30312b5ee4943353c8f7a7d .clearfix:after { content: ""; display: table; clear: both; } .uaa52d155e30312b5ee4943353c8f7a7d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uaa52d155e30312b5ee4943353c8f7a7d:active , .uaa52d155e30312b5ee4943353c8f7a7d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uaa52d155e30312b5ee4943353c8f7a7d .centered-text-area { width: 100%; position: relative ; } .uaa52d155e30312b5ee4943353c8f7a7d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uaa52d155e30312b5ee4943353c8f7a7d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uaa52d155e30312b5ee4943353c8f7a7d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uaa52d155e30312b5ee4943353c8f7a7d:hover .ctaButton { background-color: #34495E!important; } .uaa52d155e30312b5ee4943353c8f7a7d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uaa52d155e30312b5ee4943353c8f7a7d .uaa52d155e30312b5ee4943353c8f7a7d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uaa52d155e30312b5ee4943353c8f7a7d:after { content: ""; display: block; clear: both; } READ: Review two scenes, which are particularly moving to prove "For never was a story of more woe than this of Juliet and her Romeo." EssaySome readers might argue on the points that I have made on these questions, but it altogether outlines the conflicts of women at that time. Playwrights do not give very accurate answers, instead throws out such questions that have enlightened several readers.

Evaluation of Current Integrated Marketing Communications Practice

Question: Discuss about critical evaluation of current integrated marketing communications practice? Answer: Introduction: The role of integrated marketing communication is very vital factor of the present times for all the business organizations following of the integrated marketing communication process in the effective manner is very vital in order to gain competitive advantage. In the era where the business world has become all the more competitive in nature this is very vital for the business organizations to make use of more effective business policies that would enable the business to stand out despite of the prevailing competitions in the market and prove it as the market leader. The process of integrated marketing communications process is followed by the business organizations as the effective strategies for the improvement of the brand perception in the market and also to meet with the other effectiveness of marketing. Therefore, this report has dealt with the study of the role of global integrated marketing communications in the emerging global marketplace and also would deal with the discussions of the theory which are associated with the concept of integrated marketing communication and in this respect the case study of Mercedes Benz group has been considered. TheMercedes Benz is one of the pioneers among the car manufacturers of the world and the this paper has dealt with the study of the factor that how effectively the chosen car manufacturer has been following of the integrated marketing communication process and how the process has been effective enough in helping the business to meet with the fundamental objectives of the business, on the whole. Definition of marketing communication: Marketing communication could be defined as a complex and fundamental part of every business organization. Marketing communication is used as a tool in order to reach prospect customers in the market by penetrating other competitors. Marketing communication involves various kinds of elements such as trade shows, sponsorships, sales presentations, promotional activities, printed materials, online marketing, packaging, branding, direct marketing, advertising, and many more (Ravishankar, 2011). Definition of marketing mix: The marketing mix could be defined as a set of actions that are conducted by an organization in order to promote their product or brand in the market. There are four elements of marketing mix and they are product, price, promotion, and place. In the recent times, there is several other marketing mix elements included in the marketing mix and they are packaging, positioning, and people and they are considered as vital elements of marketing mix. The marketing mix involves various strategies in order to promote product in the market (Pickton, and Broderick, 2009). Therefore, in order to stay ahead in the market, Mercedes Benz had launched Instagram competition so as to grab attention of online customers. They named the campaign as take the wheel and used it as marketing tool in their digital marketing strategy. The main target of the company was to grab the attention of young youth. With the rise in competition in the automobile industry in the international market, the company had understand that in order to meet international competitive challenges they have to make strong presence in the online marketing media. As Toyota has invested in providing value added products along with low prices, it had become potential threat to Mercedes Benz in order to stay ahead in the international market (Chen, 2011). Evaluation of the IMC practices employed by car manufacturers like Mercedes Benz to reach a specific target market within the two countries UK and United Arab Emirates The Mercedes Benz group has been one of the leaders in the segment of manufacturing luxurious cars in all over the world and the car manufacturing company is also considered to be developed business and is continuing with effective business moves consistently. The success of the business is no doubt due to the products of the business but at the same time this is also important for the Company to make use of the business strategies in the most effective manner that would help the business to continue to be the leader in the market, among all the business strategies considering the marketing strategies from time to time of the business is also very vital. However, there are other competitors in the market such as BMW and other who are posing to be the tough competitors of the Mercedes Benz group by the way of presenting high end cars from the angles of designs and use of technology also, therefore, this is all the more crucial for the Mercedes Benz, to make use of most effective marke ting strategies that would help the business to continue to be one of the leaders in the automobile sector of the world (Stephen Zoeller's Marketing Blog, 2014). Thus, in order to be in the competition the Mercedes Benz group is trying to gain the attention of the younger generation this is true that the business class people has also been the main target of the luxurious car manufacturing company but at present they are making use of innovative designs and are also trying to the incorporate the sporty look of their car series in order to attract more of the younger consumers. Generation X is the main target of the company and they are making use of their integrated marketing communication processes as one of the most effective tools in order to get the attention of the generation who are within the age of 20 year to 40 year of age group and in this respect the group is following the strategies which are being followed by the mass market car manufacturers (Ravishankar, 2011). Thus, be it is the market of United Kingdom or the United Arab Emirates the group is following the universal theme in order attract the target market of the business, su ch as the use of the slogan C for yourself, used by the group when they launched the new C class in the market(Automotoportal.com, 2015). This is considered to be one of the effective methods that the brand projected itself and the use of the star image in their product campaign and also the use of a variety of channel which are instrumental with the launch of the new series have further enabled the business to decide the medium of effective communication with the target market and thus, appeal to the customers in the positive manner. The main motive with which the campaign has been conducted by the group in the UK as well as in the United Arab Emirates is to be able to influence the customers regarding the series of usefulness of the possessing the cars offered by the Mercedes Benz group to them and how their products can bring in change in the driving experience of their customers along with the use of high end designs, meeting with the safetyrequirements, the comfort and the agility. The primary tool which has been used by the group of Mercedes Benz in order to communicate directly to the potential buyers of the mar ket and also the customers of the business is by the way of number of campaign conducted in most of the countries of the world including UK and United Arab Emirates also(Marketing Week, 2011). The management has decided to directly communicate with the customers and all the communications strategies are being shaped according to this very motive moreover, they also make use of the advertisements with the help of multimedia in order to reach to the wider section of the consumer market. The advertisements are also framed incorporating the factor of direct communication with the market. Mainly for countries like the United Kingdom and United Arab Emirates the management of Mercedes Benz group makes use of the exclusive driving events in order to directly appeal to the customers and potential buyers of the business. At the same time the Mercedes Benz group follows the integrated campaign program for the purpose to promote their cars of different series by the use of innovative tools the management has been able to communicate more effectively with the customers or the consumers of the market(Pickton, and Broderick, 2009).The use of the innovative platforms such as the Mobile Marketing Special, interactive short films and presentation within Second Life such as in the case of promoting the range of C class models of Mercedes Benz have further making it prominent that how effectively the business is making use of the new technology and integrated marketing campaign in order to establish direct link and channels of communication with the customers and the target market of the business(indivirtualdubai.com, 2015).Moreover, for the countries of the Middle East including UAE the management of Mercedes Benz is making use of their digital partner in order to improve the online presence of the entire group and they are also planning the information architecture in order to communicate better and enhance their hold in those countries also. Therefore, it is apparent that in most of the countries of the world be it Germany, UK or the Unites Arab Emirates the management of Mercedes Benz group is making use of the effective and similar modes of integrated marketing communication modes that further enables the business to improve the brand perception in the market(Ewing, 2009). However, this is only for the case of the Middle East countries that the management of Mercedes Benz is emphasizing on the on the factor of online digital strategy, more in order to prove the business to be one of the leading car brand in the United Arab Emirates and also in other Middle East countries (Stuart, and Kerr, 1999). From the company report this is apparent that the business has projected sound and continued growth and in terms of the operations and also financial terms also, therefore, on the basis of such growth report this can be fairly stated with the help of communication strategies the business has been able to meet with some of the main objectives of the organization. Moreover, this has also been opined in the reports by some of the managerial head of Mercedes Benz that by the use of the integrated communication strategies the business has been able to understand the tastes and preferences of their customers and at the same time the customers have also been able to access the company in case of any assistance or in case of any information required (Schultz et al.2009).This has further enabled the group to bridge the gap the company and its customers and thus, this has further enabled the business to improve the customer relationship, as evident from the reports of the business. Identification the key challenges of practicing IMC and discussion to what extent there is evidence of IMC being practiced For the purpose to determine the affectivity or the extent to which the Mercedes Benz group has been able to make use of the Integrated Marketing Communication method the organizational SWOT or the internal environment of the business has been analyzed with respect of the business and at the same time from the theoretical perspective there are two main model which are being used in the following section of the report. SWOT Analysis of Mercedes Benz The main strength of the business is its brand image and the demand of the Mercedes Benz cars in different parts of the world (Chen, 2011). This business has been one of the leaders in the car manufacturers and therefore this is considered as one of the main strengths of the business. Moreover, the use of the new technology in the process of designing the high end cars and the also the safety factors implemented by the business during the production of the cars have further enabled the business to reach this high. Therefore, if the business is making use of the integrated marketing communication process in the more effective manner this would be further beneficial for the business, to hold the positing in UK and to cement itself in the UAE (Henley,2001). The main weakness of the business is that the products are not meant for the masses but they are mainly for the classes when it comes to the pricing of the cars offered by Mercedes Benz group, and at the present times there are other car manufacturers in the market who are trying to the provide high end car qualities at the cheaper price and this is considered to be one of the main weaknesses of the business. Therefore, from that prospect the use of this communication process would help the business to hold its market and appeal to the wider section of the target market (Automotoportal.com, 2015). The main opportunity that the business would get from the effective use of integrated marketing communication method is that it would help the business to continue its appeal to the wider section of the market and provide better service to the consumers by the way of establishing direct contact with the market. The main threat for the business at the present times is definitely the growing competitions in the sector; therefore, in order to be the leader the business needs to meet with the more innovative and strategic market communication methods for the purpose to hold the existing position of the business (Grein, and Gould, 1996). Therefore, if the business is making use of the integrated marketing communication process in the more effective manner this would be further beneficial for the business, to hold the positing in UK and to cement itself in the UAE. The use of Reinold and Tropp model The models of Reinold and Tropp of integrated marketing communication are being used to determine the affectivity with which the business is making use of the process to meet with the organizational objectives.The basic principle of the model, is an integrated measurement approach that considers all different communication disciplines e.g. media advertising, direct marketing, PR, mobile media, etc., (Reinold Tropp 2012). The implementation of the model can be done with the help of three main stages, the survey, determination or the calculation of the metrics and the finally the analysis. From the use of this very model this is apparent that the Mercedes Benz has been effectively meeting with this very factor effective communication on the level of marketing and at the same time this is further evident that from the survey that has been conducted by the business organization that, with the use of effective marketing communication system the business has been able to enhance its reach to the customers and has been able to appeal to the target consumer of the market (Moarref et al. 2013). The use of the calculation of the metrics which are being considered the growth of the financial outcomes of the business and also on the basis of the customer feedback this has been further evident by the way of analysis that the business has been successfully meet with the factors of effective integrated market communication processes(Mulhern, 2009). This is further apparent from the use of the different theories that the model of Reinold Tropphas been all the more productive in nat ure and with the use of the model the business management or the analysts would be able to judge the affectivity with which the business organization is making use of this model to determine the performance level of the business with respect to the marketing method followed by the business (Journal of Marketing Communications, 2009). The use of Nowak and Phelps model On the other hand the use of the Nowak and Phelps model can also be utilized to determine the usefulness of the integrated marketing communication method and also to determine the how the method can prove to be profitable for the business and also how affectively the business has been able to meet with the factors so as to help meet with the organizational objectives of the business on the whole(Nowak and Phelps, 1997). The use of the Nowak and Phelps model can be further analyzed with the help of the following figure Integrated Market Communication Model. With the help of this very model it would be able to analyze the affectivity of the campaigns which are being used by the business organizations from time to time in order to meet with the marketing objectives and also to address to the wider section of the market(Nowak, 2011). This is further apparent from the marketing methods which are being used by the Mercedes Benz group by the way of using the campaigns and the use of the innovative modes for the purpose to promote their products and at the same time meet with the factor of appealing the target market, has been very productive for the business (Clow and Baack ,2004) . Generation X is the main target of the company and they are making use of their integrated marketing communication processes as one of the most effective tools in order to get the attention of the generation who are within the age of 20 year to 40 year of age group and in this respect the group is following the strategies which are being followed by the mass marke t car manufacturers. Thus, be it is the market of United Kingdom or the United Arab Emirates the group is following the universal theme in order attract the target market of the business, such as the use of the slogan C for yourself, used by the group when they launched the new C class in the market(Automotoportal.com, 2015). Recommendations on further use of the tools or media by the business Moreover the use of the advertisement and the short films with respect to the launch of the product or the car models is the market has further helped the Mercedes Benz group to appeal to the wider section of the market. With the help of using the marketing data base model on the methods which are being applied by the Mercedes Benz group, it can be said that the with the growing competition the business has been able to implement more useful methods to the gain the attention of the target market and make its mark and thus they are able to continue with the existing hold over the market and at the same time this is further expected that by the way of following more effective marketing communication processes the business would be able to further enhance its market in different parts of the world. So to say it is implied that the use of media and the tools that have been mentioned above are indispensable components for any successful marketing and business related endeavor. Conclusion: From the report this is apparent that the Mercedes Benz group is making use of integrated marketing communication process in the most effective manner, as evident that how the business is trying to establish the direct link with the target customers and with the market, by the way of providing the exclusive driving event and other methods in the UK and other countries also. Moreover, for the countries of the Middle East the business is trying to make its online image more appealing for the customers, thus, this is evident that how effectively the business has been effective in meeting with fundamental objectives and goals but by the way of following the recommendations this is expected that the business would be able to further improve its performance in the market. References Automotoportal.com, (2015). Mercedes-Benz launches integrated marketing campaign for the new C-Class. [online] Available at: https://www.automotoportal.com/article/mercedes-benz-launches-integrated-marketing-campaign-for-the-new-c-class [Accessed 2 Jun. 2015]. indivirtualdubai.com, (2015). Mercedes-Benz Web Design Case Study - Indivirtual Dubai. [online] Available at: https://www.indivirtualdubai.com/web-projects-clients/mercedes-benz-middle-east [Accessed 2 Jun. 2015]. Marketing Week, (2011). Mercedes hopes to attract younger fans. [online] Available at: https://www.marketingweek.com/2011/09/05/mercedes-hopes-to-attract-younger-fans/ [Accessed 2 Jun. 2015]. Moarref, R., Sharma, A., Tropp, J. and McKeon, B. (2013). Model-based scaling of the streamwise energy density in high-Reynolds-number turbulent channels. Journal of Fluid Mechanics, 734, pp.275-316. Nowak, G. and Phelps, J. (1997). Direct marketing and the use of individual-level consumer information: Determining how and when ?privacy? matters. J. Direct Mark., 11(4), pp.94-108. Nowak, K. (2011). Cellular Automata Multiscale Model of Creep Damage for Metals. KEM, 488-489, pp.339-342. Reinold, T. and Tropp, J. (2012). Integrated marketing communications: How can we measure its effectiveness?. Journal of Marketing Communications, 18(2), pp.113-132. Stephen Zoeller's Marketing Blog, (2014). How Mercedes-Benz Uses Marketing Segmentation - Stephen Zoeller's Marketing Blog. [online] Available at: https://www.stephenzoeller.com/how-mercedes-benz-and-german-luxury-car-brands-use-marketing-segmentation/ [Accessed 2 Jun. 2015] Chen, C. (2011). Integrated Marketing Communications and New Product Performance in International Markets.Journal of Global Marketing, 24(5), pp.397-416. Clow, K. and Baack, D. (2004).Integrated advertising, promotion marketing communications. Upper Saddle River, N.J.: Pearson Prentice Hall. Ewing, M. (2009). Integrated marketing communications measurement and evaluation.Journal of Marketing Communications, 15(2-3), pp.103-117. Grein, A. and Gould, S. (1996). Globally integrated marketing communications.Journal of Marketing Communications, 2(3), pp.141-158. Henley, T. (2001). Integrated Marketing Communications for Local Nonprofit Organizations: Developing an Integrated Marketing Communications Strategy.Journal of Nonprofit Public Sector Marketing, 9(1-2), pp.141-155. Journal of Marketing Communications. (2009).Journal of Marketing Communications, 15(5), pp.374-375. Mulhern, F. (2009). Integrated marketing communications: From media channels to digital connectivity.Journal of Marketing Communications, 15(2-3), pp.85-101. Pickton, D. and Broderick, A. (2001).Integrated marketing communications. Harlow: Financial Times Prentice Hall. Ravishankar, P. (2011).Integrated marketing communications. Delhi: Pacific Publication. Schultz, D., Tannenbaum, S. and Lauterborn, R. (1993).Integrated marketing communications. Lincolnwood, Ill., USA: NTC Business Books. Stuart, H. and Kerr, G. (1999). Marketing communication and corporate identity: are they integrated?.Journal of Marketing Communications, 5(4), pp.169-179.