The Innocent Man

The Innocent Man is non-fiction examining several particularly unjust criminal convictions in the Oklahoma justice system. But as non-fiction, you will not believe how innocent people can be railroaded onto death row on almost no evidence whatsoever, coerced confessions and unscrupulous prosecutors who want someone's head on a stick without truly looking for the killer. The main target in the book is Ron Williamson, who has a humble beginning as the son of a door to door salesman, then to a career as a professional baseball player, drafted by the Oakland A's.But like many promising baseball players, he bounced around the minor leagues for years before retiring in his mid-20's. . After his short sports career that took him no higher than the minor leagues, Williamson returned home to Oklahoma. He developed a mental illness and a drinking problem and when a young woman in his neighborhood was stabbed to death, poor Ron was the obvious suspect since no one liked him anyway.You might thi nk this all happened in less enlightened times, but it took place in the 1980's. Ron and Dennis Fritz spent years in jail as they exhausted their appeals and finally convinced a federal judge that the conviction was an outrage, based on almost no evidence and the fact that Ron was mentally-ill. The judge overturned the conviction on a Habeas Corpus petition by Ron's lawyers only a few days before his execution. For years, Ron was screaming in his jail cell that he was innocent.The Innocence Project, a New York City organization that works to free the wrongly-convicted, took his case and won his freedom. What happened to Ron Williamson could happen to anyone. The guy he was convicted with was probably sent to jail because he was merely friends with Ron. You could be arrested tomorrow for being in the wrong place at the wrong time. A jury of your â€Å"peers† could convict you on with no evidence simply because the prosecutor told them you committed the crime.We learn that inno cent men are sometimes sent to Death Row. We learn that this innocent man barely escaped execution. There may be many people who still believe that all lawmen are honest, government officials never make mistakes, and innocent men are never put to death. But, I think it is easy to say that there are bad apples in every crowd and yes, even bad people in some of the most respectable positions in the world. The Innocent Man The Innocent Man is non-fiction examining several particularly unjust criminal convictions in the Oklahoma justice system. But as non-fiction, you will not believe how innocent people can be railroaded onto death row on almost no evidence whatsoever, coerced confessions and unscrupulous prosecutors who want someone's head on a stick without truly looking for the killer. The main target in the book is Ron Williamson, who has a humble beginning as the son of a door to door salesman, then to a career as a professional baseball player, drafted by the Oakland A's.But like many promising baseball players, he bounced around the minor leagues for years before retiring in his mid-20's. . After his short sports career that took him no higher than the minor leagues, Williamson returned home to Oklahoma. He developed a mental illness and a drinking problem and when a young woman in his neighborhood was stabbed to death, poor Ron was the obvious suspect since no one liked him anyway.You might thi nk this all happened in less enlightened times, but it took place in the 1980's. Ron and Dennis Fritz spent years in jail as they exhausted their appeals and finally convinced a federal judge that the conviction was an outrage, based on almost no evidence and the fact that Ron was mentally-ill. The judge overturned the conviction on a Habeas Corpus petition by Ron's lawyers only a few days before his execution. For years, Ron was screaming in his jail cell that he was innocent.The Innocence Project, a New York City organization that works to free the wrongly-convicted, took his case and won his freedom. What happened to Ron Williamson could happen to anyone. The guy he was convicted with was probably sent to jail because he was merely friends with Ron. You could be arrested tomorrow for being in the wrong place at the wrong time. A jury of your â€Å"peers† could convict you on with no evidence simply because the prosecutor told them you committed the crime.We learn that inno cent men are sometimes sent to Death Row. We learn that this innocent man barely escaped execution. There may be many people who still believe that all lawmen are honest, government officials never make mistakes, and innocent men are never put to death. But, I think it is easy to say that there are bad apples in every crowd and yes, even bad people in some of the most respectable positions in the world.

Internshp on Performance Evaluation of Exim Bank Ltd

Internship REPORT ON EXPORT IMPORT BANK LIMITED TOPIC: Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division Department of Business Administration Submitted by www. AssignmentPoint. com Date of Submission: 17th May2012 LETTER OF TRANSMITTAL 17th May2012 To Lecturer Department of Business Administration Subject: Submission of the BBA Internship Report. Dear Madam, It is a great Pleasure for me that I have the opportunity to submit the Internship Report on performance evaluation of Export Import Bank of Bangladesh Limited special focus on foreign exchange division.The internship program gave me an opportunity to have an exposure to the working environment and on the job experience. I have acquired a good understanding on distribution channel of this multinational. I have tried my level best to put meticulous effort for the preparation of this report. Any shortcomings or fault may arise as my unintentional mistakes' I will wholeheartedly welcome any clarifi cation and suggestion about any view and conception disseminated through this report. Sincerely yours www. AssignmentPoint. com †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. SUPERVISOR’S CERTIFICATIONThis is to certify that student of department of BBA and major in Finance, has completed the Internship Report titled â€Å"Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division† successfully under my supervision. I wish her every success in life. Supervisor †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Lecturer Department of Business Administration Acknowledgement Allah is Almighty to mock internship report of my port of study of BBA Program. The accomplishment and completion of this report would not have been viable without the contribution of some people who took the time and effort to guide me in my report work.I deeply appreciate and value their suggestions and recommendations through the entire course of my report work. I would like to extend my heartiest thanks and my sincerest gratitude to all those who directly/ indirectly contribute to the compilation of report. I am especially grateful to my teacher, my internship supervisor. I could not prepare my Internship Report without her proper guidance and inspiration. Last but not least, I would like to give my thanks to all the members of EXIM Bank Ltd. , Panthapath Branch because working with them was such a wonderful experience in my life that I will never forget.TABLE OF CONTENTS Particular Page No |Executive Summary |VIII | | | | |CHAPTER-1 Introduction |1 | |1. 1 |Origin of the Report: |2 | |1. 2 |Objective of the Report: |2 | |1. |General objective of the Report: |2 | |1. 4 |Specific objective of the Report: |3 | |1. 5 |Scope of the Report: |3 | |1. 6 |Limitations of the Report: |4 | |1. 7 |Methodology of the Study: |4 | |1. |Sources of Information: |5 | | | | | |CHAPTER-2 Economic Conditions In Bangladesh |6 | | | | |CHAPTER - 3 Industry Analysis | | | | |CHAPTER-4 Company Analysis |12 | |4. 1 |Historical Background Of The Exim Bank |13 | |4. 2 |Vision |13 | |4. 3 |Mission |13 | |4. 4 |Objective |14 | |4. |Strategy |15 | | | | | |CHAPTER-5 The General Banking Division |16 | | | | |CHAPTER-6 Loans And Advances Department |24 | | | |25 | | | |29 | | | | | |CHAPTER-7 Foreign Exchange Department |39 | | | | |CHAPTER-8 Competitive position of Export Import Bank of Bangladesh limited with Premier Bank limited |45 | | | | |CHAPTER-9 SWOT & Financial Analysis |51 | | Swot Analysis | | |Ratio Analysis | | |CHAPTER-10 Recommendation & Conclusion |70 | |10. 1 |Findings |71 | |10. 2 |Recommendation |72 | |10. 3 |Conclusion |73 | | | | | Appendix |74 | |Bibliography |78 | Executive Summary Bank is a service oriented business organization. The prime goal of this organization is earning profit as another business organization. Customer service is core product of the bank. According to Bank Company Act 199 1 clause 5(3) Banker means that person or institute of accepting for the purpose of lending or investment of Deposit of money from public, repayable on demand.To know your customer is the main slogan in new modern Banking System providing customer services. EXIM Bank Limited has earned a good reputation around Bangladesh. Despite competition among banks operating in Bangladesh both local and international, EXIM Bank has made remarkable progress, practically in every sphere of its activities. Export Import Bank of Bangladesh Limited is a third generation private commercial bank in the country with commendable operating performance. This study is mainly based on performance evaluation of EXIM Bank Ltd. Special focus on foreign exchange division. In order to make foreign the report more meaningful and presentable, use both the primary and secondary sources of collection information. EXIM Bank Ltd. as already established a favorable reputation in the banking industry of the country. At is one of the leading private sector commercial banks in Bangladesh. The bank has already shown a tremendous growth in the profits and deposits sectors. To get competitive advantage and to deliver quality service management can establish training institute and credit car should be introduced. The over all performance of the bank is very good according to its competitive position. Within a near future EXIM bank will be a market leader among the banks. 1. Introduction: 1. 1 Origin of the Report: In today's world only academic education does make a student perfect to become competitive with the corporate & Global business world.By doing an internship program, a student can get the opportunity to learn facing about real business world. Internship is highly needed to gain idea knowledge and experience. I am a BBA graduate from Private University in Bangladesh. It has designed its curriculum of the BBA Program such a way that the international standard graduates will be produced. After co mpleting my 139 Credit hours I Need to go for further professional experience through Internship program in a Business organization EXIM Bank Ltd. is a place where I have learned the business dealings. This organization has created a positive image to the customer's mind by providing better service specifically I am telling about the Panthapath Branch.This branch has introduced an exclusive modern banking system that has got high market sharing and rating in the prominent business & banking avenue in Panthapath Bank way. As an BBA Internee Office I have tried to maintain the pace with the competitive business environment on official Activities Culture Philosophy Norms & Styles. It should be reflect the best at any field of my Professional life; The Vice President & Manger is my overall Guide Philosopher & Superior. By receiving his all sorts of cordial support I have been availed the opportunity to work with this branch for three months from 10th January 2010 to 9th March 2010. I ac quired idea about real business and corporate world. 1. 2 Objective of the Report: Prime objects to a large-scale study on Banking System. 1. 3 General objective of the Report:The report specification based on the overall banking performance evaluation and special focus on foreign exchange division of EXIM Bank Ltd. 1. 4 Specific objective of the Report: ? To apply theoretical knowledge in the practical field. ? To make a bridge between the theories and practical procedures of banking day-to-day operations. ? To know the different modes of scheme, in EXIM Bank. ? Trend analyses of the different scheme. ? To know the financial activity of bank. ? An overview on the major financial activity and practices of EXIM Bank ? To identify the strategies for EXIM Bank Limited, implementing in constant prosperity of the company ? Analyzing the performance trends of EXIM Bank. To give some idea about its management and organization structure ? To present and overview of EXIM Bank Ltd. ? Compare the different mode of scheme of Exim Bank with other similar bank. 1. 5 Scope of the Report: First the report presents about the current economic condition of Bangladesh and the present condition of the banking sector of our country and next it gives some ideas about EXIM Bank Ltd. Then it analyzes the performance of the bank based on financial analysis and SWOT analysis. After that, it emphasizes or foreign exchange division. By reading this report one can easily have some ideas about the performance and foreign exchange division of EXIM Bank Ltd. 1. 6 Limitations of the Report:Although there were sincere co-operation from employees of EX1M Bank Limited, Panthapath Branch, they could not manage enough time to provide the necessary information for the completion of the report. During the preparation of the report the following problems occurred that may be termed as the limitation or shortcomings of the study. Some of the limitations faced in preparing this report are: ? Confidentia lity the Bank's policy restricts disclosing some data ? Data about the performance of the bank of the year 2008 have not yet been disclosed by the bank. ? The study of such a short course of time is not free from limitation. ? The data relevant for the analysis report writing sometimes could not be collected due to excessive year-ending workload at the branch. It is too much difficult to comment and suggest based on only the annual report and information collected from written documents. ? As some assumptions were made with the help of limited information, there may be some personal mistake in the report ? It was very difficult to collect the information from various incumbents for the job restriction. 1. 7 Methodology of the Study: Although there were so many limitations, it was tried to use both the primary and secondary sources of collecting information to make the report presentable with as less abstraction as possible. 1. 8 Sources of Information: Two sources (i) Primary & (ii) Secondary A.Primary data: Primary data is always known as survey data. This type of data is collected from the respondent. For this personal Interview with the offices and customers have been conducted. B. Secondary Data: Data that were published before for some other reason can be collected using internal and external sources. i) Internal secondary data: To furnish the report properly some papers has been collected from the officials of EXIM Bank Ltd. Information from annual reports journals, newspapers and other published documents have been used besides other published information about the organization, depth interview of the branch manager and second branch manager have also taken. i) External Secondary data: For better interpretation some data has been collected from Bangladesh Bank. Internet Browsing is also one source of external Secondary data. 2. ECONOMIC CONDITIONS IN BANGLADESH Bangladesh has an agrarian economy with 32% of GDP coming from the Agriculture Sector. Major agricultural products are rice, jute, wheat, potato, pulses, tobacco, tea and sugarcane. . The country is the largest exporter of jute and jute goods in the world. Readymade garments are among the most exportable items. Tea, frozen shrimp, fish, leather goods and handicrafts are also major exportable commodities. The country has under gone a major shift in its economic philosophy and management in recent years.At Bangladesh's birth, the country embraced socialism as the economic ideology with a dominant role for the public sector. But, since the mid-seventies, it undertook a major restructuring towards establishing a market economy with emphasis on private sector-led economic growth. During the nineties, the country has completed a major stabilization program which has reduced inflation as well as fiscal and current account deficits and established a healthy foreign exchange reserve position with low and sustainable debt-service liabilities. With modest economic growth, the basic in dicators related to health, education and poverty have all shown sustained improvement.According to a World Bank estimate, Bangladesh has the 36th largest economy in the world in terms of GNP based on the purchasing power parity method of valuation, and the 55th largest in terms of nominal GNP in U. S. Dollars. Bangladesh economy grew on an average at above 6. 0 percent in the last four years up to FY07 . According to the provisional estimates of the Bangladesh Bureau of Statistics (BBS),real GDP recorded a strong growth of 6. 5 percent in FY07,which is marginally lower than 6. 6percent recorded in FY06 . This growth was commendable as it was achieved in challenging environment marked by high and volatile oil price ,phasing out of the MFA quota, labour unrest in the garment industry and confrontational political situation of the country in the first half of FY07. With reasonable support from agriculture sector, the 6. percent real GDP growth was underpinned mainly by industry sector and services sector. The expansion was broad based, registering positive growth by all sectors and sub-sectors of the economy. Spurred by a robust 9. 5 percent growth in industry sector and 6. 7 percent growth in services sector, GDP growth during the year was also aided by 3. 2 percent growth in the agriculture sector. The domestic savings-investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07 from 4. 4 percent in FY06 reflecting higher savings growth. The domestic savings investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07.The rising trend of inflation of FY06 as measured by CPI continued in FY07 mainly due to higher prices of oil and some other imported goods in the international market, distortion in the supply side factors and demand pressure generated from excess money supply . Slower import of consumer necessities pulling their domestic prices heightened the price pressures. Annual ave rage CPI (base FY96) inflation as of end June 2007was 7. 20 percent, compared to 7. 16 percent as of end June 2006. There was notable increase of food prices component of CPI inflation from 7. 8 percent as of end June 2006 to 8. 1 percent as of end June 2007. Maintaining a favorable investment environment and a sound macroeconomic management are important to strengthen private sector investment in the economy.In view of medium term outlook of sustainable economic growth and low inflation for world and south Asian economies and assuming continuation of prudent policies and progress in advancing structural reforms, the near and medium term economic prospects of Bangladesh appear favorable. 3. INDUSTRY ANALYSIS Bank plays an important role in this modern world. The development of industries and business sectors of a country mainly depends on good banking system. The industries and businessman are taking short and long term loan from banks. In the modern world international businesses a re fully depended on banks. Without sound banking system no country can develop in international trade. Bank constitutes an important segment of the financial infrastructure of any country. The economic history of many countries reveals that economic development and growth of financial infrastructure go hand in hand.Financial system of a country is the heart of a country’s economic system as it connects suppliers of the funds and demanders of fund, which is needed to produce economic goods. It also provides a large arena of employment opportunity. As Bangladesh is containing a bank base economy, its economic development is largely depended on the development of banking sectors. Bangladesh appeared as a new nation on the world map in the year 1971. After independence financial institutions, especially banks played a vital role in re-constructing the war-torn economy of Bangladesh. Bangladesh Bank is the central bank of the country and is in charge of monetary policies of the G overnment and controls all commercial banks. Development and growth of our banking system may be divided into three parts. The performance of our banking system during 1972 to 1982 was commendable in respect of expending network and providing easy credit to the socially desirable sectors but equally frustrating with regard to maintaining validity and customer services. The second phase from 1983 to 1989 was characterized by denationalization and privatization of banking system without broad-basing the prudential and information regulatory framework; however, these measures of denationalization and privatization could not bring the viability and operational efficiency of banking system.Under the above circumstances and with the recommendation of World Bank, a Financial Sector Reform Project (FSRP) was undertaken in 1989 by the government, which can be identified with third phase of the development of our banking system. The government of Bangladesh has also enacted some important act s namely financial institutions act 1993, Securities and Exchange Commission act 1993, the companies’ act 1994 and recently Bankruptcy act 1997. The present day banking structure has evolved over several decodes. The far-reaching program of economic reform is being carried out at present towards efficient utilization of scare resources and the development of private entrepreneurship. Banks are financial service firms, producing and selling professional management of the public's fund as well as performing many other roles in the economy.Banks are those financial institutions that offer the widest rang of financial functions of any business firm in the economy. Competition is strengthened by the entry of new and innovative provides of financial services, through the development of Money market and Capital market. Money market is designed for the making of short-term loans where individuals and institutions with temporary surplus of funds meet borrowers who have temporary cash shortages. Capital market is deigned to finance long-term loans where individuals and institutions with temporary surplus of finds meet borrowers who have temporary cash shortages. Capital market is designed to finance long-term investments.Private sector commercial banks are private companies operate under the legislative framework, which covers both Company Act, and Banking Company Act, under the ongoing financial liberalization, EXIM Bank emerges as a new Bank in private sector to operate at the Banking arena of Bangladesh It is committed to provide high quality financial services/ products to contribute to the growth of GDP of the country through stimulating trade and commerce, accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth , poverty alleviation, raising standard of living of limited income group and overall sustainable socio-economic development of the country. 4. COMPANY ANALYSIS 4. 1 HISTORICAL BACKGROUND OF THE EXIM BANK EXIM Bank- Export Import Bank of Bangladesh Ltd. was named at first as BEXIM Bank BEXIM stands for Bengal Export Import of Bangladesh. This new commercial Bank was opened in August 03, 1999 with some new innovative visions in customer services.The Bank received the certificate of incorporate no. C-37864 (2164)/99 under the commencement of the business on the same day by the section 150(2) under companies Act. A part from the head office in Dilkusha C/A, it stared its first local branch in Motijheel C/A simultaneously in order to provide all kinds of Banking support to the clients. On December 02, 1999 the second branches both in Dhaka City and other cities. Now it has twenty-five branches in the country. 4. 2 VISION The gist of EXIM bank vision is ‘Together Towards Tomorrow'. Export Import Bank of Bangladesh Limbed believes in togetherness with its customers, in its march or the road to growth and progress with services.To achieve the desired goal, there will be pursuit of excellence at all stages with a climate of continuous improvement, because, in EXIM Bank, they believe, the line of excellence is never ending. Bank's strategic plans and networking will strengthen its competitive edge over others in rapidly changing competitive environments. Their personalized qualities services to the customers with the trend of constant improvement will be cornerstone achieve their operational success. 4. 3 MISSION The bank has checked out the following corporate objectives in order to ensure smooth achievement of its goals- ? To be the most caring and customer friendly and service oriented bank. ? To create a technology base most efficient banking environment for its customers ? To ensure ethics and transparency in ail levels To ensure sustainable growth and establish full value of the honorable shareholders and ? Above all, to add effective contribution to the national economy Eventually the bank also emphasize on: ? Provide high quality financia l services in export and import trade ? Providing efficient customer service ? Maintaining corporate and business ethics ? Being trusted repository of customers’ money and their financial adviser ? Making its products superior and rewarding to the customers ? Display team spirit and professionalism ? Sound Capital Base ? Enhancement of shareholders wealth ? Fulfilling its social commitments by expanding its charitable and humanitarian activities 4. Objective Bangladesh is now integral part of global market. As such there is an urgent requirement for Bangladesh to place the traditional banking pretties in harness with the global trades of a free market economy by following international banking customs, practices and standards. Today clients of a bank in Bangladesh are exposed as well as international markets. They have to stay update with their practice and standards to meet the demands of achieving harmony in the high standards of a free economy. EXIM Bank fully appreciates the importance and implication of the rapidly emerging competition in the banking and finance sector of Bangladesh.It intends financing its customer suited to his or her place in the market. In this regards EXIM Bank emphasizes in its employment the software aspects of human resource capability. It also emphasizes competence among its banking professional to cater to vary customer requirements to the modern time. The objectives of EXIM BANK is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the person of alt level, to the businessman, industrialist specially who are engaged in establishing large-scale industry by consortium and the agro-based export oriented medium and small scale industries by self inspiration.EXIM BANK is always ready to maintain highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethic through its established commitment and heritage. EXIM BANK is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking area. 4. 5 Strategy In order to reach the goal it is important to build strategy and follow the policies. If it can select the appropriate strategy and choose the right policy, it will be very easy to touch its desired position.The distinguishing attribute of policy is to set the over all boundaries for activities. According to this system when the bank was started it has to decide what kind of business it is going to be in. The Bank also has to decide on its growth and communicate through am system of major objective of the business is to reach the goal, to reach the desired position from the current status. There might be a number of ways to reach there and its has to be decided which path would be easier to reach the objective. So the authority has no decided wh ich path they select to proceed. The following figure can be explained clearly. Slogan of the EXIM Bank: â€Å"Local Bank Global Network†The world EXIM implies the meaning of its operation. Through it is a new type of Bank in Bangladesh; it is familiar with so many countries in the world such as Export Import Bank of the United States, Export Import Bank of Japan. Despite it is a local Bank, It has spread of its operation in the whole world through foreign Banking. To achieve the desired goal, it has intention to pursuit f excellence at stages with a climate of continuous improvement. Because it believes, the line of excellence is never ending. It also believes that its strategic plans and business networking will strength its competitive edge over in rapidly changing competitive environment.It motto I to provide quality service to the customers all over the world so, the slogan of the Bank â€Å"Local Bank Global Network† is completely adjustable with its operation. T HE GENERAL BANKING DIVISION Internship has provided the opportunity to coordinate the theoretical knowledge that one has gathered in MBA Class with the practical field. Although three months is not a very long period to learn the whole thing that usually occurs in an organization. The supervisor divided this report into three parts. 1) The general banking department 2) The Investment department 3) The foreign Exchange department. Learning experience from General Banking Division:The main business of this Division is dealing with Deposit. There are two types of Deposit in this Branch and General Banking division as the following section: 1. Deposit section 2. Account Section 3. Remittance section 4. Clearing section 5. Customer Service section 6. Cash section and 7. Information Technology section Task I Handled in this Division is 1. Opening Accounts 2. Opening Monthly saving scheme, 3. Modaraba Term Deposit Account Current 4. Deposit foreign current Deposit Account 5. Modarada short notice Deposit (STD). 6. Fixed Deposit, Steady Money. 7. Demand Draft (D. D) 8. Telegraphic Transfer (T. T) 9. Payment Order (P/O) 10. Travelers Check (T. C) 1. Issuing Check. Pay Order (PO): Pay order is one kind of unconditional promissory note or instrument that is issued by the Bank to the customer. The difference between check and pay order is the mode of encasement. Demand Draft: Demand Drafts are made for the transfer of money from one place to another in the form of cheques through a particular Bank, which can be ensued right way. The Bank issues DD for their outer district branches. Telegraph/ Telephone Transfer: When a certain amount of money is asked by the client to transfer from one branch to another than it is called telegraph/ telephone transfer. For TT, there is a particular from.When the form is filled up properly and deposits the amount by the applicant, the authorized officer issued a cost memo to the application for their confirmation. lssuing cheques Books: Che ckbook issue is a very sensitive because most of the fraud occurs through this checkbook. Customer requiring check books to fill out requisition ship. For saving accounts 10 pages check book issued and CD/SOD/ CC accounts issued 25 and 50 pages checkbook. Cash Section: In clearing section the work is to clear the cheques, DD's and PO's through Bangladesh Bank that are submitted for cash collection. Everyday morning House another in the evening called return house.In the hose all the Banks representative sit together and exchanges their money receive instrument of their particular bank to clear the paper and transfer to money the paper partlcular accounts. Type of Clearing: There is two type of clearing 1) In-Ward 2) Out –Ward In- ward: Those Cheques or instrument of EXIM, which are submitted to other banks for collections are called In – Ward Clearing. Out- Ward: The cheques of other banks that are submitted to the EXIM for collections are called out-ward Clearing. Cas h Section: Cash is the main element of all financial activities. The cash section of any branch plays very significant role. It's very sensitive place of the branch, because it deals with most liquid assets. The EXIM Bank Mirpur Branch has an equipped cash section.This section receives cash from depositors/Client and pays cash against cheques draft, payment order and pay to slip over the counter This section deals with all type as of negotiable instruments and in includes volt. Used as the store of cash instrument, the main functions of the sections are cash receipt and cash disbursement. Accounts Opening Section: This section deals with opening of different types of accounts. It is also deals with issuing of books and different deposit boos to the different accounts opener. A customer can open different types of accounts through this department such as: l. Current Account 2. Saving Account 3. Fixed deposit account (FDR) 4.Short term Deposit (STD) 5. Monthly saving Scheme (Money Gro ver) 6. Monthly income scheme (Steady money) 7. Smart saver Scheme 8. Multi plus saving Account 9. Super saving scheme 10. Education saving scheme EXIM Bank gives special importance various deposit schemes are: l. Monthly saving Scheme (money Grower) 2. Monthly income scheme (Steady Money) 3. Multi plus savings A/C 4 Super saving scheme 5. Double benefit Scheme 6. Smart saver Scheme 7. And Education saving Scheme Types of Accounts with Terms and Conditions Current (CD) Account: Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account.It is basically justified when funds are to be collected and money is to be paid at frequent interval. Some Important Points are as follows- †¢ Minimum opening deposit of TK. 1000/- is required; †¢ There is no withdrawal limit. †¢ No interest is given upon the deposited money; †¢ Minimum Tk. 1000/= balance must always maintain all the time. Savings (SB) Account: The bank provid es savings account services for the ease of its clients. It offers both personal and corporate Savings Account to its clients in every branch. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some Important Points are as follows- Minimum opening deposit of Tk. 5000/= is required; †¢ Minimum Tk. 1000/= balance must always maintain all the time; †¢ Withdrawal amount should not be more than 1/4th of the total balance at a time and limit twice in a month. †¢ If withdrawal amount exceed 1/4th of the total balance at a time no interest is given upon the deposited money for that month. †¢ The current rate on deposit amount is 6%. †¢ Closing of saving accounts will cost 300tk to a customer. Short Term Deposit (STD) Account: Normally various big companies, organizations, Government Departments keep money in STD account. Frequent withdrawal is discouraged and requires prior notice.The deposit should be kept for at least seven days to get interest. The interest offered for STD is less than that of savings deposit. Interest is calculated based on daily minimum product and paid two times in a year. Interest rate is 4. 50%. Call Deposits (Money at Call): Sometime the banker secures funds from the money markets usually from other bankers against receipt to meet his purely tepmorary shortage of funds. These debts are repayable immediately at call. When the money market is tight such derosits attract higher rate of interst and then to be treated as banker’s borrowings as call loans. Account opening: To dill with the bank individuals need to have an account first.The particulars are essential for identification of the account holders individually so that the banker can discharge his obligations to every one correctly and to the extent due. Documents required for opening account ? Individual / Joint Account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Identity (copy of passport). 4. Joint Declaration Form (For joint a/c only). 5. Employee’s Certificate (in case of service holder). ? Partnership account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed). 4. Partnership Deed duly certified byNotary public. 5. Registration (If any). 6. Updated Trade license. ? Proprietorship account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Valid copy of Trade License. 4. Rubber stamp. 5. TIN number certificate. 6. Identity (Copy of passport). 7. Permission letter from DC/ Magistrate (in case of newspaper) 8. ? Limited company: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the Introducer. 3. Valid copy of Trade License. 4. Board resolution of opening A /C duly certified by the Chairman/Managing Director. 5. Certificate of Incorporation. 6.Certificate of Commencement (In case of Public limited company). 7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director. 8. List of directors along with designation & specimen signature. 9. Latest certified copy of Form – xii (to be certified by register of joint stock companies) (In case of Directorship change). 10. Rubber Stamp (Seal with designation of each person) 11. Certificate of registration (In case of Insurance Company – Obtained from department of Insurance from the Peoples Republic of BD). ? Club / societies account: 1. Introduction of the account. 2.Two photographs of the Signatories duly attested by the introducer. 3. Board Resolution for Opening A/C duly certified by President/ Secretary. 4. List of Existing Managing Committee. 5. Registration (if any). 6. Rubber Stamp. 7. Permiss ion letter from Bureau of N. G. O. (In case of N. G. O. A/C). Savings Scheme; †¢ Monthly Income Scheme †¢ Multiplus Savings †¢ Smart saver †¢ Super Saving Scheme †¢ Monthly Savings Scheme (Money Grower) †¢ Hajj Scheme Finance/Loans: †¢ Corporate Finance †¢ Industrial Finance †¢ Lease Finance †¢ Hire Purchase Finance †¢ Commercial Loans †¢ Project Finance †¢ Syndicate Loans †¢ Retail Loans †¢ Mortgage Loans †¢ Loan against Share and Securities †¢ Account Opening Procedures: Step 1 | | | |The account should be properly introduced by Any one of the following: | | |An existing Current Account holder of the Bank. | | |Officials of the Bank not below the rank of an Assistant officer. | | |A respectable person of the locality well known to the Manager/Sub-Manager of the Branch concerned. | |Step 2 | | | |Receiving filled up application in bank’s prescribed form mentioning what type of account is de sired to be | | |opened. |Step 3 | | | |The form is filled up by the applicant himself / herself | | |Two copies of passport size photographs from individual are taken, in case of firms photographs of all | | |partners are taken | | |Applicants must submit required documents | | |Application must sign specimen signature sheet and give mandate | | |Introducer’s signature and accounts number – verified by legal officer | |Step 4 | | | |Authorized Officer accepts the application | |Step 5 | | | |Minimum balance is deposited – only cash is accepted | |Step 6 | | | |Account is opened and a Cheque book and pay-in-slip book is given | Account Sections: Daily function: The routine daily tasks of the accounts department are as follows: 1. Recording the daily transactions in the cash book 2. Recording the daily transactions in general and subsidiary ledgers 3. Preparing the daily position of the branch comprising of deposit and cash 4.Preparing the daily statement o f affairs showing all the assists and liability of the branch as per ledger and subsidiary leader separately. 5. Making payment of all expenses of the Branch 6. Recording inters branch fund transfer and providing accounting treatment in this regard. 7. Checking whether all the vouchers are correctly passed to ensure the Conformity with the Activity Report; if otherwise making it correct by calling the respective official to rectify the voucher. 8. Recording of the vouchers in the Voucher Register 9. Packing of the correct vouchers according to the debit voucher and the credit voucher. Periodical Tasks: The routine periodical tasks performed by the department are as follows. 1. Preparing the monthly salary statements for the employees 2.Publishing the basic data of the branch 3. Preparing the weekly position for the branch this is sent to the Head Office to maintain Cast Reserve requirement 4. Preparing the monthly position for the branch, this is sent to the Head office to maintain statuary liquidity requirement. 5. Preparing the weekly position for the branch comprising of the break up of sector wise deposit, credit etc. 6. Preparing the weekly position for the branch comprising of the denomination wise statement of cash in tills. 7. Preparing the budget for the branch by fixing the target regarding profit and deposit so as to take necessary steps to general and mobilize deposit 8.Preparing an Extract' which is a summary of all the transactions of the Head Office account with the branch to reconcile all the transaction held among the accounts of all the branches. General Account: General account is important one, which has to be maintained by each branch. Indeed general account is are record of Oregonian and responding transactions among inter- branches of the same bank. All types of assets and liabilities of one branch with another one are settled through this account. Branch can know how much the bank is liable with Head Office. The debit and credit balance shows assets and liabilities of the respective branch. Statement or Affairs:Accounts section prepares the statement of affairs for finding the profit/ loss as well as amount of assets and liabilities of concerned branch per day Theoretically, it is called financial statement and has tow parts: 1. Income and Expenditure Account 2. Statement of Assets and Liabilities Amortization and Depreciation: Amortization is the allocation of the cost of an intangible asset to expense for example, prepaid expenditure, prepaid insurance and good will etc Amortization schedule is determined by the decision of management. Establishment: This section deals with employee's salary, much type of internal expenses such as purchase of pen, paper equipment, machinery and payment of labor Cost and employee conveyance. In cause of leave of absence employee collects prescribed from this section. LOANS AND ADVANCES DEPARTMENT Introduction:Banking is essentially a business dealing organization with money and c redit like all other business activates. Banks are profit-oriented organization. A bank invites its find many ways to earn more and more profit and most of its income is derived from loans and advances. Bank makes loans and advances to traders, Businesspersons, industrialists and many other persons against security of some cautions policy and sound lending principle in the matter of lending. EXIM Bank is a lending bank in loans and advances and it grant loans in various sectors especially in industry, trade and commerce. Types of loans and advances: There may be different types of loans and advance given from the commercial banks such as EXIM Bank Ltd. Of our country.Loans and advances may be in the following types: 1. Cash credit 2. Overdraft 3. House Building loan (General and Staff) 4. Transportation (Car) loan (only for senior staff) 5. Consumer credit Scheme 6. Loan against Imported Merchandise (LIM) 7. Loan Bills purchases Documentary (LBPD) 8. Loan against Other Securities (L AOS) 9. Term Loan Brief Idea about the different types of loans and advance: Cash Credit (CC): Cash credit is an arrangement by which the customer is allowed to borrow May up to a creation limit. This permanent arrangement and the customers need not to draw the sanctioned amount of money at a time. The borrower can draw the money when required.The borrower can put back any surplus, amount, which he/she may he affect frequently. Intersect is charged only to the amount with drawn and not he whore amount sanctioned cash credit arrangement is usually divide into two ways such as: 1. Cash credit pledge 2. Cash credit hypothecation Cash Credit Pledge: In case of cash credit pledge possession of the goods dealings to bank and ownership of the of the goods belongs to borrower and bank the possessions of the goods as primary security. The goods storied in go down under lock and key by direct supervision of the bank. If the borrower wants to sell any potion of the pledged goods he/she permiss ion of bank with returning the value of the loan amount.It is therefore regarded as the most secured type of advance. Cash Credit hypothecation: In case of cash Credit hypothecation possession of the goods not transferred to the bank and therefore such and advance is no better than a clean loan, such an advance can thus only be granted to a person in whose integrity the barked has full confidence cash credit in the form of Hypothecation is normally accompanied with mortgagee of immovable properties. The pray/ borrower possesses the lock and key of the down. The Formalities of opening cash Credit: There intending cash credit holder should submit the following documents and being fill up properly: 1. Stock repot, rend receipt 2. Trade license 3.Up to date income tax clearings certificate 4. Charge documents 5. Letter of Continuity 6. Letter of arrangement 7. DP (Demand Promissory) note 8. Letter of guarantee 9. Letter lien 10. Limit sanction advice 11. Non-Encumbrance Certificate Obse rving the documents the bank authority prepares a cc proposal from that contains the following information: 1. Nature of business 2. Banking with EXIM 3. Transition with CD account by the client 4. Allied deposit with SB/STD account. 5. Number of adjustment (s) how many times the CC holder made his/her Account nil that means debit balance equal to credit balance. 6. Recycling it is ration of total credit summation to the limit.If the ratio is Higher it is better from banker's points of view. 7. Turn over in the account 8. By the encasement authority the bank holds the power to encase the FDR the encasement authority at any time in case borrower's failure to repay the loan amount with interest in due time. Based in the above-mentioned information the dealing officer of the loans and advances department prepares recommendation about the prospect of granting the CC loan to the client. Overdraft: Overdraft is an arrangement between the banker and the customer by which the letter is allo wed to withdraw over his/her credit balance in the current account up to an agreed limit.The borrower is permitted for draw and repays any number of times, provided he total amount overdrawn dose not exceeds the agreed limit. Here the interest is charged only for the amount withdrawn over the limit. Not for the whole amount. Overdraft is divided into tow categories:  ¦ Secured overdraft (SOD)  ¦ Temporary overdraft (TOD) Secured overdraft: It is allowed against the full security (i. e. FDR, ICB unit Certificates). Temporary Overdraft: It is allowed to the customer for a very short period of time. But EXIM bank deals only secured overdraft. Car Loans: This is a special type of loan, which is only provided for the staff of EXIM Bank.Usually AVP and above level officers get this kind facility. This loan is reimbursed on instrument basis and repayable after each month. House Building loan (General and Staff): General house building loan is providing into two sectors:  ¦ Generally  ¦ Staff Naturally house building loan is paid for the construction of commercial building, and owners etc, procedures for sanctioning house- building loan as follows:-  ¦ Application for sectioning loan  ¦ Application properly filled up for credit facilities supplied by the bank.  ¦ Personal net worth statement each director  ¦ Enquiry form Required papers for sanctioning HB loan:  ¦ Copy of general power of attorney  ¦ Copy of material certificate Copy of engineer's estimate  ¦ Copy of projected cash flow Loan (General): In case of loan the banks sanction some of money for a certain period of time. The enter amount is one time disbursement and paid in cash or credit loan A/C. The interest is charged on full sanctioned amount @16%. The bank generally sanctions loan to establish industry. These types of loan are granted for capital expenditure such as purchase of land, constriction of factory building, purchase of new machinery and modernization of plant. The borrowe r cannot withdraw this type of loan once repaid in full or in part again. Formalities for extending project loan: Loan application form:After receiving the loan application from the borrower the branch scrutinizes the application whether it is viable or not. Loan application from contains the following particulars amongst other detail below:  ¦ Particular description of the Project.  ¦ Nature of the Project  ¦ Detail information about the borrower  ¦ Statements of assets and liabilities of the borrower with declaration  ¦ Detail information about proposed products, machinates and manpower etc  ¦ Project cost and source of fund.  ¦ Market for the proposed project. Feasibility report: This report is provided by the borrower, which includes the following aspects of the project:  ¦ Marketing aspect  ¦ Technical aspect financial aspect  ¦ Managing aspect  ¦ Socio-economic aspect 1) Classification Procedure 1.Categories of Loans- At first all loans and advances will be grouped into four categories for the purpose of classification, such as- (a) Continuous Loans (b) Demand Loans (c) Fixed Term Loans and (d) Short Term and Agriculture & Micro Credit. (a) Continuous Loans : The loan A/C in which transaction may be made within a certain limit and have an expiry date for full adjustment will be treated as continuous loan. Exp CC, OD etc. (b) Demand Loans: The loan that becomes repayable by the party on demand by his bank will be treated as demand loans. If any contingent or any other liabilities are turned into forced loan will also be treated as demand loan. Exp. LIM, PAD, FBP, IBP etc. (c) Fixed Term Loans: The loan which is repayable with in the specific time period under a pacific repayment schedule will be treated as Fixed Term Loans. d) Short Term Agriculture & Micro Credit: Short Term Agricultural Credit will be as per list issued by Agricultural Credit and Specialized Programmers Department (ACSPD) of Bangladesh Bank under the Agricultural C redit Programmed. Credit in the Agricultural sector repayable within 1(one) year will also be included herein. Short Term Micro Credit includes any micro credit not exceeding TK. 25,000. 00 and repayable within 12 months. 2) Basis for Loan Classification: (A) Objective Criteria (1) Past due/ over due: In this point we saw four factors those are; a) Any continuous loan if not repaid / renewed within the fixed expiry date for repayment be treated as past due/ overdue from the following day of the expiry date. ny demands loan if not repaid/ rescheduled within the fixed expiry date will be treated as past due/ overdue from the following day of the expiry date. b) In case any installment of a fixed term loan (repayable within fives) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue (defaulted instilment) from the following day of the expiry date of the particular installment. c) Incase of any installment or part installment of a Fixed Term Loan (repayable over five years) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue after 6(six) months of the expiry date of that particular installment. ) The Short Term Agriculture & Micro Credit if not repaid within the fixed expiry date for repayment will be considered as past due/ over due (defaulted instilment) after 6(six) month of the expiry date. (B) Qualitative Judgment; If any uncertainty or doubt arises in respect of recovery of any continuous, Demand or Term Loans the same will have to be classified as Sub- Standard or Doubtful or Bad/ Loss. Considering the merit of the A/C on the basis of qualitative judgment be it classified or not on the basis of objective criteria. The Bank will classify on the basis of qualitative judgment and can be- classify loans if qualitative improvement does occur.But if a loan classified by Bangladesh Bank inspection Team, the same can be de- classified with the approval of the Board of Directors of the Banks. CIB Report: Before making credit report to the head office the lending branch takes the credit information to the borrower from the CIB (credit Information Bureau) of Bangladesh Bank and other financial institutions. For obtaining this report the branch sends Inquiry form' to CIB duly filled in particulars of the borrower. The report id divided into 5 segments. Project appraisal: It is the reinvestment analysis done by Banker before a project is approved. Project appraisal in the Banking sector is needed for following reasons:  ¦To ensue repayment of the Bank finance To achieve the organizational goals  ¦To establish industrialists in a country. The main tasks of the project appraisal is to justify the soundness of an investment by the Banker by means of a capital and systematic of the different elements of the Project For this purpose Banks use two types of analysis:  ¦Lending Risk Analysis (LRA)  ¦Spread Sheet Analysis (SSA) Lending risk analysis: Lending risk analysis is modern methodologies, which describes how to access the risks that are inherent any credit extension and how to access the likelihood that the customer will repay a loan. The LRA form contains 16 pages to analysis different categories of Risks.The Financial Sector Reform project introduces the lending Risk analysis format in 1993. LRA is a standardize format for analyzing the credit worthiness of a borrower and the likelihood that the borrow will repay. Bangladesh bank issued a letter number BCD (p) 611/13/290 dated 17-07-1994, which now makes it mandatory for the commercial Banks to implement the LRA approach to credit analysis prior to extending credit facilities to a Borrower. The modern concept of lending is purpose and production oriented and not security oriented. The emphasis should be given not any security rather on he likelihood of repayment, the credit worthiness of the customer soundness and viability of the business etc. Lending PrinciplesThe Principle of lending is a collection of certain accepted time tested standards, which ensure the proper use of Investment fund in a profitable way and its timely recovery. Different authors describe different principles for sound lending. 1. Safety 2. Security 3. Liquidity 4. Adequate yield 5. Diversity Process of Investment |Heads |Characteristics | |Application |Applicant applies for the Investment in the prescribed form of the bank describing the types | | |and purpose of Investment. |Sanction |Collecting credit information about the applicant to determine the credit worthiness of the | | |borrower. Sources of information | | |Personal Investigation, Confidential Report from other bank, Head Office/Branch/Chamber of | | |Commerce. | | |CIB (Central Information Bureau) report from Central Bank. | | |Evaluation of compliance with its lending policy. | | |Evaluating the proposed security. | | |LRA is must for the Investment exceeding one crore – as ord ered by Bangladesh Bank. | |If everything is in accordance the Investment is sanctioned | |Documentation |Then bank prepare a Investment proposal which contains terms and conditions of Investment for | | |approval of H. O. or Manager. | | |Takes the necessary papers and signatures from borrower | |Disbursement |An Investment Account is opened. Where customer | | |A/C—————————————————————————————Dr. | | |Respective Investment A/C —————————————-Cr. |FOREIGN EXCHANGE DEPARTMENT Introduction: One of the largest businesses carried out by the commercial bank is foreign trading. The trade among various countries fills for close link between the parties dealing in trade. The situation calls for experti se in the field of foreign exchange operations. The bank, which provides such operations refereed to as rending international Banking operation. Mainly trisections with overseas countries are respects of import, export and foreign remittance come under the preview of foreign exchange transaction, and international trade demands a flow of goods from seller to buyer of payment from buyer to seller.In this case the Bank plays a vital role to bridge between the buyer and seller. Foreign Exchange Mechanism in Flow Chart: Sales/Purchase contract Issues L/C Forward Forward documents Makes payment Makes payment Foreign Exchange department of EXIM Bank is department of all departments. This department handles various types of activates by three separate sections: 1. Import Section 2. Export section 3. Foreign Remittance. Import Section: The functions are of the section is mainly to deal with various components such as  ¦ Letter of Credit (L/C)  ¦ Payment against Document (PAD)  ¦ Payme nt against Trust Receipt (PTR)  ¦ Loan against Imported Merchandise (LIM) Letter of Credit (L/C): Definition:A letter of credit can be defined as an arrangement where in a Bank Guarantee on behalf of these customers to make payments to the beneficiary upon presentation of documents specified in the credit. Parties involved in L/C: Opener/ Buyer/Importer: The person who opens the L/C is known as opener/ buyer/importer of the L/C. The buyer and the seller conclude a sales contract providing for payment by documentary credit. 0pening Bank: The Bank issuing the L/C in favor of exporter is known as opening Bank. The opening bank opens L/C on request of importer according to application of the importer. Advising Bank: The Bank through L/C is advised their agent (correspondent Bank) abroad.The duty of the advising Bank is to authenticate the message so that is to the seller can act on it without any fear of forgery etc. Beneficiary: Seller and exporter in whose favor the L/C are opened. The beneficiary is normally the seller of good who receive payment under documentary credit. If has compiled with terms and conditions thereof. Negotiating Bank: The Bank that is authorized to handle (purchase) the documents under the L/C in the exporting country is known as negotiating Bank. L/C will stipulate either a notified bank to negotiate (restricted L/C) or any bank can negotiate in the seller’s country (unrestricted L/C). Reimbursing Bank: The Bank that is (by the L/C issuing Bank) to effect reimbursement is known as reimbursing bank.Reimbursing Bank authorized to honor the reimbursement claims in settlement of negotiation/ accepting/ payments lodged with its by the paying/ negotiating/ accepting Bank. Confirming Bank: A Confirming Bank is one which adds the guarantee to the credit opened by another bank. Therese undertaking the responsibility of payment/ negotiating/ acceptance under the credit in addition to that of the issuing Bank. A confirming Bank normally doe s so it requested by the issuing Bank. Types of L/C: – Revocable/ irrevocable L/C – Confirmed/ unconfirmed L/C. – Transferable L/C – Back to back L/C – Acceptance L/C – Revolving L/C – Red clause L/C – Green close L/C The EXIM Bank basically deals with irrevocable L/c. which can not be amended or cancelled by the issuing Bank at any moment and without prior to the beneficiary.It also deals back to back L/C, which is the letter of credit, provided by the exporter to the import the raw materials from abroad in order to produce the exportable commodity for the importer. Procedures for opening L/C: Application for opening L/C: An importer who is desirous to import goods from foreign country will apply Issuing Bank for opening a L/C. The importer will provide an application mentioning the following aspects: 0 Full particulars of applications Bank account. 0 Types of business 0 Historical background 0 Amount of required L/C limit 0 A mount of L/C margin. 0 Term of payment 0 Name of imported goods 0 Repayment schedule and source of fund Document schedule and source of fund.An importer or L/C opener has to submit the following documents 0 Application from (provided by the Bank) 0 Import registration certificate 0 Pro-forma invoice 0 Four sets of IMP from 0 Insurance cover not 0 VAT registration number 0 Tex registration number 0 Letter of credit authorization form Examination for opening L/C: Application must be carefully checked by the concerned officer considering the facts mentioning below: ? The terms and conditions of L/C applications are consistent with exchange control and import trade resolution UCPDC 500. ?Illegibility of imported goods ?The L/C must be opened in favor of importer ?That is signed by the importer and agreed with the terms and conditions. Indenting registration number ?Goods are not of Israel and vassals to be used are not of Israel ? Insurance cover note with date of shipment. ?Whether RC is up to date or not ?Whether IMP form is duly filled up and singed ?The imported goods are marketable After scrutinizing all thee legal aspects necessary entry is given to the margin register and charge, commission and margin in realized. Transmitting the L/C: The L/C is transmitted to the advising Bank for advising the L/C to he beneficiary. L/C is generally transmitted through tested Telex of Fax. Before transmission of final examination of the L/C contents is

Ojt Experience

INTRODUCTION On the job training or OJT is one method by which students is given chance to apply the theories and computations that they have learned from the school. It also helps the students to acquire relevant knowledge and skills by performing in actual work setting. Colleges and universities require their students to  undergo such  training within  a  specific  number  of  hours  as  part  of  the curriculum.For the students, an OJT or internship program provides opportunities togo  through  the  actual  methodologies  of  a  specific  job  using  the  real  tools, equipments and documents. In effect, the workplace becomes a development venue for a student trainee to learn more about his chosen field and practice what he has learn from academy. On the  other hand, an effective OJT program also benefits the companies who accept trainees.First OJT or intern provides additional manpower for lesser labor cost than a regular employee. Most of them are all eager to learn the ropes so chances are high that they will cooperate. Employers can use this internship strategy as a method in recruiting new employees. Since the trainer or the supervisor can follow the trainees’ progress, he can gauge based on performance, behavior and attitude if the trainee will make a good recruit after the completion of his internship.OJT’s can bring fresh ideas  into the organization. Given the opportunity to speak  their  minds  freely  and  without  fear,  they  maybe  able  to  contributesignificantly in brainstorming sessions or research and eventually help improve the organizations productivity. While training the interns, employers are in fact also teaching their employees to process of guiding the trainees stretches their  patience, develops teaching skills and makes them more sensitive to the needs and mind set of the younger generation.The course of supervision also teaches them how to sh are what they know and be receptive to questions. Hence, theinternship  also  becomes  an  avenue  in  training  for  future  managers  of  thecompany. Accommodating on-the-job trainees can truly be beneficial not only to the trainees but also to the companies that provide opportunities for this type of  learning. There is wisdom in the front lines. Such training can be

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A Midsummer Night's Dream - Assignment Example Another instance that people make decisions for others is Demetrius wants to marry Helena but since his father has asked him to marry Hermia then he has to obey. Another situation is where the decision to love is placed on a cupid. In the play there is a quote â€Å"Cupid painted blind. Nor hath loves mind of any judgment taste†¦ Because of the choice, he is so oft beguiled. The writer of the play has bestowed the decision to love or not to love on Cupid. This might not be a person making a decision for another but rather leaving this to fate. Theseus makes a comment in the last scene that says that people let fear distort people’s senses and make people see things that do not exist. In a literal sense allowing fear make decisions for you is a sense of control. This quotes shows it â€Å"Or in the night, imagining some fear, How easy is a bush supposed a bear?†.

Qualitative Research Problem and Design Essay Example | Topics and Well Written Essays - 1500 words

Qualitative Research Problem and Design - Essay Example The main methods for collecting qualitative data include individual interviews, focus groups, observations and action research. Many factors were considered in deciding the appropriate research methodology. A qualitative approach is effective in solving the problem in this case because it can create new theories. As the researcher attempts to understand the topic, he or she will have to interact with the participants. In addition, the researcher will have to study existing information about the topic. The practice may lead to the discovery of a new theory. Qualitative research is important when addressing a new phenomenon in the society or examining an important issue in the country (Jamshed, 2014). The possibility of discovering a new theory is important because it could result in a better understanding of student performance in mathematical subjects. In addition, qualitative analysis is likely to explain the relationship between things and demonstrate their effect in that situation. As a result, it contributes towards the development of a better understanding of the issue. Furthermore, the method is characterized by observation or reading information. The researcher is expected to respond to the insights learned from this approach through writing. Consequently, it contributes towards the growth of the existing body of knowledge about a topic. Qualitative research is based on a theoretical framework (Bendassoli, 2013). As a result, it shall be addressing an important issue in the society that is important for the well-being of the society. Addressing the high failure rates will enable the country to enhance its competitiveness. Furthermore, qualitative research is flexible. Instead of applying a rigidly defined framework, research method and data collection style, a flexible approach is important in developing a holistic understanding of an issue. The method involves the collection of data using observational

Epidemiology of Bio-Terrorism Essay Example | Topics and Well Written Essays - 500 words

Epidemiology of Bio-Terrorism - Essay Example Terrorism donned a new role and it took the form of bio-terrorism in which hazardous chemicals were used to attack people. Anthrax was the first material used in bio-terrorism. (Grey, 2006). The article provides a complete picture of the stages in which anthrax affects a person. But the article fails to explain the methods adopted by the terrorists who perform this task. The epidemiological framework consists of various methods and modules. During the 1800’s and 1900’s, people in America were affected by Bacillus Anthracis. People who were in direct contact with the animal products and its related industries were the only victims. (Jernigan, 1996). In the mid-1900’s, America saw the first case of inhalational anthrax. In this case, anthrax was purposely used to attack a person. People who came in direct contact with it were affected by this bacterium. People who worked in the postal department were most prone to getting affected by this disease. The patient’s clinical data was collected and tested and the reports confirmed that these people were affected by inhalational anthrax. (Koehler, 2003). It is one of the epidemic diseases and each of the affected patient’s exhibited different symptoms but most of them had fever, chills and fatigue. The patients were treated with median incubation after which they were given certain antibiotics. Pleural effusion was the common problem in all the patients who were affected by anthracis. Though antibiotics were given, some of them showed no signs of improvement. (Guillemin, 2004).The complication depended on the case history of the patients. Inhalational anthrax affected the chest of the person who inhales it. It was a common phenomenon and chest x-ray of the patients revealed certain abnormalities in the chest. Though the counts of white blood corpuscles of most of the patients were normal, they showed some

The Go-Between Essay Example for Free

The Go-Between Essay The short story †The Go-Between† is written by Ali Smith in 2009, to celebrate the 60th anniversary of the United Nations’ adoption of the â€Å"Universal Declaration of Human Rights†. The declaration consists of thirty rights, which symbolise all the rights we, as human beings, should be obligated to have. Smith has found her inspiration in Article 13, the right to freedom of movement. The story takes place in Morocco in North Africa, and partly in Europe. Throughout the story, we follow a 33-year-old man – who is the protagonist. We never hear the name of this man, but he speaks of himself as â€Å"Professor me†. Our main character is a so-called â€Å"border crosser† – he helps refugees cross the border between Morocco and Spain – and he is also a â€Å"messenger† between the refugees in Morocco and the French Doctors in Spain – you could call him the â€Å"go-between†. He helps the French doctors heal all the wounded people; a man whose legs had been broken under a train, a woman who had been raped and a little boy who was dying – all mentioned to make the reader sympathize even more for these people. He is a former microbiologist and has worked in a university – this shows that he has gained a lot of knowledge and is indeed a clever man. His education is what has enabled him to get help to those who need it once they cross the border, by being able to speak the language of the French doctor, who he says can be Italian, Spanish, French, English; he says â€Å"I speak these and also some others†. (p. 2, l. 32) He describes his physical self with the following characteristics â€Å"I’m a small, slight man. I’m not a big man. I’m lean and slight†. (p. 4, l. 120) I think he is describing his physical self in this way because it humanizes him. The reader may begin to think that he is some kind of super hero, helping all of these refugees cross- but he is just a normal person, doing what he can to help. The 33-year-old man is definitely a very â€Å"Determined Professor Me†, when it comes to helping people across or under the border as he is willing to go as far as losing the top of his ear as well as his 3rd finger. Despite the fact that it is dangerous to cross the border, our main character jokes about it; â€Å"I lost the top part of my ear on the fence. The top part of my ear is in Europe†. (p. 1, l. 3) This makes him seem quite like The Joker, but despite his jokes, he is actually quite scared of losing more body parts, which is shown in the nightmares he gets, when he sleeps. It is very obvious that the story is meant to show how horrible refugees used to be treated. If we read between the lines, we can tell that the main character has had a rough past. As a â€Å"Go-between†, not only has he seen, but also experienced horrible thing. â€Å"They slashed the tents so they were useless when it rained. They burned the blankets () they took all the food. They collected up some of the people from the camp when they went into the bush to get food, and drove them to the desert in a truck, and left them there.† (p. 2, l. 54 – 58) I believe this is one of the reasons why the main character is so passionate about helping people – he wants to stand up against the police, and this is his way of doing so – regardless to his own feelings about Europe of course. Despite his hate towards the police, he still dreams about Europe – about â€Å"walking down the big streets of Madrid with their fine stately buildings†. (p. 4, l. 112) Not only in this section, but also throughout the whole story, the main character shares his passion and confusion for Europe. â€Å"You see those lights across the bay? That’s Europe! You see that fence? The other side of it is Europe.†. (p. 1, l. 2) For him, Europe is a symbol of freedom, hope, greatness and possibilities. And yet, he would still like to back to where he came from, but he can’t. â€Å"My blindness is for whats behind me, I would like to go back. I want to go back. But I have to go forward. I can’t go back. Backs not possible for me. (p. 3, l. 74 – 76) – perhaps going back isn’t possible for him anymore, because he has nothing to go back to. Nothing except a shirt, the Cameroon team colors! It seems like the fence – and helping refugees cross it, is the only thing he has left. In the end, when he’s finally on the Spanish side of the border, he just stays very close to the fence, instead of getting as far away as possible; to maintain the â€Å"connection† he has with the fence. He’s also trying to hide his previous self, so nobody will notice him when he walks down the street, so he keep his ears covered and his hand folded so that no one will notice the loss in it: â€Å"I wear my hat down over my ears. I keep my hand folded so no one sees the loss in it.† (p. 4, l. 124 – 125) The story is a written in a first person point of view and the go-between is the narrator. The story is told in a very special way – and it can be read two different ways. Either the narrator is telling the reader about his experiences as a border crosser like a conversation. E.g. I was telling you about.. (p. 3, l. 81) Or he has simply gone insane from all the horrors he has seen, and is talking to himself – he also repeats his words quite often; â€Å"we had our own law system, and our own police. We had our own police!. (p. 2, l. 60) It is very confusing for the reader, because it almost seems like it’s his stream of thoughts we read, because they are very unstructured and messy. The story definitely shows how tough the conditions were for the refugees, before the Universal Declaration of Human Rights. We are told how cruel and unfair the refugees were treated, and how dangerous and literally life threatening their everyday life could be. We also get an insight of the inhumanity that were shown to those who tried to â€Å"escape† their unsafe homes. Moreover, the author outlines the importance of the Universal Declaration of Human Rights. All humans are born free and equal, and they should be treated so. The Universal Declaration of Human Rights is probably one of the most important documents ever written, in my opinion. This story is not only a fight, but also a piece of history, written to ensure basic human dignity. Ali Smith uses humour throughout the story, to illustrate the cruelty of the borders – they way humour and irony is used in the story, will for sure leave a smile on your face.

Brand Placement in the Indian Film Industry

Brand Placement in the Indian Film Industry Churning out nearly 1,000 films a year, the Indian film industry is the largest in the world. Now, aided by technological advancements, the industry is set to take a further leap across production, exhibition and marketing. In such a scenario, product placement in mainstream films deserves a renewed focus because as a marketing communication tool, it is fast emerging as the medium with maximum potential to capture and covert audiences to potential consumers. This is especially relevant in a world where traditional media vehicles are increasingly failing to reach the consumers for various reasons.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Brand/product placement is a promotional tactic used by marketers in which a real commercial product is used in fictional media, and the presence of the product is the result of an economic exchange, it is an advertising technique in which the companies pay a fee or provide service in exchange for a prominent display of their product. Product placement occurs in plays, films, television series, music videos, video-games and books. The objective of such brand communication is to expose the audience to a brand, whereby the effect can be maximized in terms of increased awareness and higher recall, so that the customer will buy the brand which has maximum recall; and to satisfy the customer to optimum level.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This research paper looks at the rationality of brand placement, the possible congruity that can be built in the story, as indicators of success of effective brand placement in films and if so, as variables in bringing desired change in consumers attitude. The paper highlights the basic reasons for placing products and brands in Mainstream Hindi films and the effectiveness of these placements as a tool for enhancing the recall value of brands in long run brands in the films. This paper also gives insight as to how audiences react to product placement, do they think it as an effective alternative media, if it has any impact on them and if they find it ethical.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research incorporated case studies of four mainstream Hindi films, selected on basis of their box office fate and the amount of brand placement. These films are then anaysed in terms of effectiveness of the variety of placements in bringing the desired recall and recognition values. The four films selected include Om Shanti Om, Goal, Chak De! India, and Lage Raho Munna Bhai. The research concludes with suggestions regarding areas for future research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Product placement has come as a blessing in disguise for both, the brand and the filmmaker. Through it, the brand managers get the clutter breaking opportunity to look beyond the 30 sec TV commercial and the filmmaker gets to earn huge revenues by just showing the brand being used by protagonist or let it exist in the background. The deal is just perfect for both of them. But the most important person in the deal is the consumer who is vigilant and smart enough to notice whats served to him and has reservations against in your face placements. Surely he does not want more intrusion in his life. Hence, product placement has arrived and here to stay. But a word of caution is to be always kept in mind, by both the brand and the filmmaker- if as communication purveyors they are looking for better and innovative means of reaching the consumer, the consumer himself is already bombarded with marketing tactics from all over and in the three hours of movie, he would want to forget about all these intrusions, including advertising. Thus overdose of brand placement will only drive away the consumers from the cinema halls, resulting in a flop film and a failed marketing endeavor. INTRODUCTION BACKGROUND The Concept of Product Placement Product Placement in Movies Types of Product Placement Brand Placement is Different from Celebrity Endorsement The Opportunity of Brand placement, Consumer Information processing and Issue of Brand Congruity WHAT IS PRODUCT PLACEMENT? A product placement is the inclusion of a product, package, signage, a brand name or the name of the firm in a movie or in a television programme for increasing memorability of the brand and instant recognition at the point of purchase. Placements can be in form of verbal mentions in dialogue, actual use by character, visual displays such as corporate logo on a vehicle or billboard, brands used as set decorations, or even snatches of actual radio or television commercials. The objective of this communication strategy is to expose audience to a brand, whereby the effect can be maximized in terms of increased brand awareness and higher recall, so that the customer will buy the brand which has the highest recall; and to satisfy the customer to optimal level. Because of proliferation of advertisements and the consequent difficulty in getting commercial messages to reach and influence potential customers, product placement appears as an interesting alternative to traditional marketing communication tools. Basically, there are three ways product placement can occur: It simply happens. Its arranged, and a certain amount of the product serves as compensation. Its arranged, and there is financial compensation. Sometimes product placement just happens. A set dresser, producer, director, or even an actor might come across something he thinks will enhance the project. Usually this has to do with boosting the level of credibility or realism of the story being told. Example can be use of Tata Indigo car in movie Aaja Nachle. The car has been used to as mode of transport for the lead actress both when she arrives from abroad and when she goes back. Interestingly the vehicle is widely used as commercial luxury vehicle in many Indian towns. So use of this car added a touch of realism in the movie. However, when contacted, the representatives of the car company denied being approached about the use of their product. Arranged product placement deals fall into two categories: Trade-off of integration or placement for a supply of product Financial compensation for placement or integration The most common type of deal is a simple exchange of the product for the placement. Example, lets say the production team wants lead actor to display a quirky affinity for a particular type of beverage. This will come across rather strongly over the course of the program which means the chosen product could get a lot of air time. It turns out that someone on the crew knows someone who works for that beverage. The production people approach the beverage company folks with a proposal and a deal is made; in exchange for the airtime, the cast and crew are provided with an ample supply of the beverage at work. Example: the movie Krish where the lead actor drinks a lot of Bournvita. Sometimes, a gift of the product isnt an appropriate form of compensation, so money powers the deal. Imagine that the marketing team at Tag Heuer has heard about this project and feels that, given the star power of the actor playing lead, this project would be a great vehicle for showcasing its product. Someone from Tag Heuer approaches the set dresser with a financially lucrative proposal. Eventually, they come to an agreement and the wristwatch casually appears in several scenes. Before product placement really saw a surge in the mid 1990s, it was pretty much a do it yourself effort. Now there are specific corporate positions and entire agencies that can handle the job. Some larger corporations will dedicate personnel to scout out opportunities for product integration or placement within films, television shows and even games and music. Good example would be Madisons specialized division for in-film branding, MATES. PRODUCT PLACEMENT IN MOVIES Every frame in a movie has an opportunity for branding. With that intent, a number of marketers are now using movies to project the core values of their brands. In-film advertising, in its most effective form, is about a brand being a part of cinemas content. Many global brands are now turning to this medium for the sheer impact that a movie can make on its audiences. Product placement in movies has gained momentum all over the world. The practice of using branded products in Hollywood movies started as casual process since 1940s. The earliest example would be 1945 movie Mildred Pierce with film star Joan Crawford drinking Jack Daniels bourbon whiskey. The current Hollywood movies feature a plethora of products ranging from telecommunications (Motorola, Nokia), automobile (Audi, BMW, Chrysler, Jeep, Lada and Mercedes) to other products like FMCG goods, Tobacco etc. Good examples are James Bond movies. Indian mainstream Hindi films, popularly known as Bollywood the world over, caught up with the trend in 1970s with Rajkapoor using Rajdoot in his movie Bobby. Popularity of movies as medium for product placement grew because of the increasing difficulty of using television as an effective medium to target audiences. The film medium provides an excellent message reach and message life and an effective method of popularizing and immortalizing brands. One of the key drivers for movies becoming a popular medium for product placement has been the increasing difficulty of using television as an effective medium to target audiences. The advent of cable and satellite television has meant that audiences have become more fragmented and tend to demonstrate a greater level of ad avoidance. By contrast, the film medium provides an excellent message reach and message life and an effective method of popularizing and immortalizing brands. The movie-goers vicariously experience the brand as they make a connection between the film, the actor, the product and its consumption, and argue that product placement acts as a perceptual clue which directs behavior to purchase a product to satisfy a need or reinforce a social status. Movie product placement is viewed as a cheaper and more effective alternative to traditional marketing communications, despite its inflexibility, but as a result of the establishment of specialist placement agencies, and thro ugh increased brand exposure through cable, satellite, video and DVD, a typical movie with international distribution can reach over one hundred million consumers from box office to TV. There seem to be three reasons why marketers consider product placement in movies as interesting communication strategy. First watching a movie is high attention and involving activity. The particular exposure context associated with movies in theatres (lights off, minimal noise and distraction possibilities, large screen, difficulty in moving around, no zapping) is bound to lead to a high level of consumer attention as opposed to, say, listening to television. In addition, movie goers expend some significant effort (choosing a movie, driving to the theatre, finding a parking space, staying in line, finding a seat) and money (transportation, parking, tickets) in order to go to a movie and therefore quite involved during the show. Second, successful movie attract large audiences. A blockbuster movie like Om Shanti Om for instance has been seen by millions of people, and this does not include video purchases and rentals, and eventual television broadcast. Therefore from a strict cost per viewer point of view, a product placement in a movie is a real bargain. Finally product placement represents a natural, non aggressive, non persuasive way of promoting brand or a firm. Hence it may lead to less counter arguing and internal zapping from consumers. Such success stories firmly establish the importance of product placement. The use of feature films as a strategy for introducing new products has grown increasingly sophisticated. Savvy marketers now build elaborate marketing communication plans cross-promoting films and brands. For example, Audi used 2004s Babul, a film by Ravi Chopra, as an integrated element for introducing a new model, the Audi A6. It was judged the most successful promotion of 2004. Subhash Ghai was one of the early filmmakers to do product placement on a real large scale. Bollywood insiders say Ghai recovered production cost from Coke and other products even before the release of films like Yaadein and Taal. In future 40% of a films revenue will accrue from streams like TV, online rights, product placements and digital downloads. Video-on-demand, IPTV and DTH are already fetching handsome returns. Then, of course, there is the overseas market, which is expanding fast. In 2007 alone, at least a dozen Hindi Mainstream films have crossed a US $ 1 million mark in the UK an US. As successful marketing efforts incorporating motion pictures continue to mount, the casual use of brands as props will diminish. While current practice does not require filmmakers to identify brands placed in films, viewers can reasonably assume that prominently featured brands have offered some compensation or other consideration in exchange for the appearance. TYPES OF PRDUCT PLACEMENT In films, product placement can be divided into three broad categories: Implicit Mode: in this the star appears in a situation and is seen openly stating that he is using the product/brand. For example, in the movie Chalte Chalte, Shahrukh Khan is seen asking his worker to fill Castrol in his truck. Imperative Mode: In this the star would ask his friend/co-worker/peer to use the product. For example, in the movie Koi Mil Gaya, Hritik Roshan is seen recommending Bournvita to Priety Zinta and her mother in the film. Co-present Mode: in this, the star appears in some kind of setting with the product or he or she could be seen consuming or using the product. In the movie Diljale, love is the ulterior theme, and Sonali Bendre, the lead actress is shown expressing her love through Archies cards, thus revolving around the social expression feel of the Card makers. BRAND PLACEMENT IS DIFFERENT FROM CELEBRITY ENDORSEMENT The celebrities endorse product and brands with commercial reasons, which normally come in the breaks in television programmes or in cinema halls. The phenomenon of zipping and change in television usage behavior due to surfing during the commercial breaks has reduced effectiveness of television commercials. Similarly commercials of cinema hall are found to be of low involvement as audience takes them as blocks between the reasons of visiting the cinema hall and the time available to them for entertainment. So the brand communication and the entertainment product are viewed differently from the audience of both media. Brand placement provides an opportunity where the involved audience gets exposure to the brands and products during the natural process of narration of movie or television commercial. THE OPPORTUNITY OF BRAND PLACEMENT, CONSUMER INFORMATION PROCESSING AND ISSUE OF BRAND CONGRUITY   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Of late there have been attempts by Indian producers and brand managers to come together and place the brand in a situation where the audience is captive and more prone to show high level of retention. Many consumers and researchers are of the view that this method is excessive commercialization of media and intrusion in life of viewer.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The viewer does not necessarily go there to see the brands; rather he is going to the cinema hall to escape from the realities of life. Brand managers are using different type of placements to make the brand look obvious at the point of emergence. They are also integrating the brand presence with the plot of the cinema, so that the audience does not feel the brand to be out of context. The brand should also be reflective of the class of user of character in the film. If the plot connection is missing and the brand is not reflective of the characters class of usage, then probably the whole brand placement exercise will be futile. The success of Indian movies is not based on sound fundamentals which is evident from the number of feature films flopping every year. So if the vehicle in which the brand is placed does not have the required viewership, then the tariff charged to bring brand at some point of the story will also go in drain .   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Films are selected as context of research for various reasons as explained below.   Compared to television, movie viewing has higher involvement. While watching a television programme, the viewer can do multifarious work at home setting, which may affect the attention degree span of the audience and hence, reduce the overall effectiveness of the medium for enhancing brand retention. In opposition to this argument, is the movie going behavior where the viewer makes a voluntary choice for viewing (exposure) a specific film (product) at a cost (time, financial, opportunity cost) for the purpose of wholesome entertainment. So he is more receptive to brand communication provided to him in the movie hall while watching the movie of his choice.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It has been observed from research that brand recall for commercials shown during the television programmes with higher level of TRPs are very poor due to the channel switching behavior. High level of media clutter, similarity of programming across channels, channel switching behavior are the factors responsible to generate sufficient level of research interest in researchers at the practice of brand placement in movies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Brand placements are used to increase the level of brand knowledge among consumers as in every advertising medium. The uniqueness of the medium is found in the process of exposure and congruity of brand in the story. There is no competitive exposure in the same medium at the same time, unlike television of newspapers. This is significant as it may increase the level of brand knowledge. Brand knowledge is conceptualized as brand node in memory to which a variety of associations are linked. So it is important to identify the properties of the brand node and brand association.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The factors important for product placement include the level of abstraction and qualitative nature of the brand memory effect and the congruity among brand associations affects the favorability, strength and uniqueness of the brand associations. The factors being: Brand awareness: It is the strength of brand node or trace in the memory as reflected by consumers ability to identify the brand under different conditions. Brand image: It is the set of perceptions, held in the consumers memory, as reflected by brand associations. Are the other informational nodes linked to the brand node in memory and contain the meaning of the brand for the consumers? Brand Attitudes: they are the overall evaluation of the brand by the consumers. They often form the basis of consumers choice. Other variables affecting Brand placement are- Favorability of Brand Associations: Associations differ according to how favorably they are evaluated. The success of a marketing program largely depends on the ability of the marketing program in creating the trust among consumers that the attributes and associations benefits are there in the brand talked about in communications. The Strength of Brand Association: It depends on how the information enters consumers memory (encoding) and how it is retained as part of brand image (storage). Strength is a function of both the amount or quality of processing information received at encoding (how much the person thinks about the information) and the nature or quality of the information at the encoding end (the manner in which the person thinks about the information). Congruence of a Brand: the congruence of the brand with the story of the film and presentation in the film is another measure. Congruence is defined as the extent to which the brand association shares the content and meaning with other brand associations. This explains how easily one existing brand association can be recalled and how additional associations can be linked to the brand node in memory. Brand Leverage: Compares the characteristics of the secondary associations with those of primary brand associations. The secondary associations are derived out of the usage of the brand by the character in the film. Example in the film Taal, the hero uses the bottle of Coke as a symbol of exchange of love and this contextual placement increases the strength of association of the brand. Earlier researches have shown the importance of a strong link between the brand and the film. The stronger the link, the greater is the impact between the brands image and the attitude towards the brand sponsor.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Increase in product placements and institutionalization of the industry indicate that advertisers are using the technique to sway consumers brand attitudes. The type of placements should look natural to the narration, as consumption symbols are often used to enrich the plot, theme and characters of popular culture texts. Some consumers may feel that the use of brand names in popular culture simply reflects the increased commercial content of a culture or the producers efforts to enhance the realism of their film. However, in case where the brand takes a major role in the story of the film as in the movie Friends, or where its presence in the movie might look suspect as in the movie Yaadein, the audience may realize that it was placed there to affect their judgments and they may counter argue them just as they do to the traditional advertising messages. Advertising gurus claim that in-film advertising is a very shaky business and most marketers have a tendency and temptation to go overboard with the result that the film would end up becoming a long advertising commercial. Others say that since marketers always tried to stretch their advertising rupee in order to obtain the maximum bang for their buck with the result that brand suffered. However, most advertising professionals vouch for the fact that films, by virtue of being quite engaging, are one of the cost-effective and effective mediums for advertising. If a consumer watches a particular scene and the advertisement is well embedded into that, it will remain, they say. This can be referred to the fact that the girls beating the boys fighting sequence in Chak De has been referred to as the McDonalds fight scene merely because it takes place in one of the outlets. Again, there is no mention of McDonalds in the entire film as it has been seamlessly embedded. Film content of any kind can be used to build brands. The last one year has been rather active in terms of in-film placements and branding through films. However, the placement of brands such as Ultra Tech poses a big challenge especially considering that there is no obvious benefit in sticking to stereo-types and force-fitting the Brand in films theme or storyline, he said Literature survey in the Indian context was more disheartening despite the fact that brand placement is used more and more in Indian films these days. There are hardly any evidences of work carried out on brand placement in Indian Movies.   The Indian Hindi film industry id the largest in the world in terms of number of movie produced. Yet the success rate of the movies in Indian film industry is very less. If a proper research on brand placement can be done, it can guide the producers, brand managers and academicians to develop and effective brand placement strategy in which the risk of the film making and failure will come down substantially in the Indian market. The producers can charge a price for the brand placement and cover a production cost; the brand managers will find a platform to communicate with the audience about their brands in more effective manner than conventional television advertising. PROMINNENT EXAMPLES OF SUCCESSFUL PRODUCT PLACEMENTS IN SOME MAINSTREAM FILMS (In Recent Times) SOME FAILURES TOO SUCCESSES Bollywood has finally discovered branding. In 2007, according to industry estimates, brand cameos earned around Rs 200 crore, and as a result, even small-and medium-budget movies as well as animated films are hoping to cash in on this new and lucrative revenue stream. Indeed, media analysts and industry watchers expect that figure to climb to Rs 800 crore by 2010. Some of the select successful instances of brand placement in recent times are cited below: Rang De Basanti: Rakyesh Omprakash Mehras Rang De Basanti was probably the most successful Bollywood branding in 2006 with its limited edition RDB Coca-Cola bottle, and cameos of Airtel, LG, Berger and Provogue in the film. Coke, in a first of its kind attempt, launched Coca-Cola bottles branded with the RDB title and Amirs picture and produced a movie trailer that was a montage of shots from the film and Cokes Piyo Sar Uthake campaign. Just the right kind of media partners, the films marketing ensured good and effective publicity and both the brands and the movie generated a lot of mileage from each other. Krrish: Rakesh Roshans Krrish, now a case study of Indian Institute of Management, Indore, prominently featured Singapore Tourism Board, Sony, John Players, Bournvita, Tide, Hero Honda, Boro Plus, Lifebuoy, HP Power, Acron Rangeela, Hansaplast and Lays chips, followed by merchandising of Krrish masks, lunch boxes, water bottles. Its merchandising sold like hot cakes among children. Krrish made 12 crores out of product placement. Don: Farhan Akhtars Don promoted Tag Heuer watches, Motorola, Garnier, Citibank and, of course, Oakley sunglasses as well as Louis Philippe outfits. The placement ensured that the viewer noticed dons phone, his laptop, his watch, hia sunglasses and the brand names were the focus of the camera work. But it was still done in a subtle way and did not come across as being imposed on viewer. Dhoom 2: Sanjay Gandavis Dhoom 2 promoted Coke, Pennzoil, Pepe, Sony, Disney channel, Sugar Free, McDonalds, Speed, and Suzuki Zeus. The movie was quite an opportunity for Coke, for both the brand ambassadors of Coke were starring in the movie together for the first time. The cool couple drinking the always coolest drink, perfect for Coke! The cola company had a special campaign for Dhoom 2 where Hrithik Roshan encouraged youngsters to take a swig and go dhoom. Main Hoon Naa: Farah Khans first movie Main Hoon Naa featured the following brands- Reebok, Cafà © coffee day, Frito Lays, Levis, LML. MHN was an example of optimum utilization of branding in a film. The story of the film revolved around youth hence it gave us the scope of using lifestyle and youth centric brands. The brands that were involved were the ones keeping the modern day college goers in mind, for which using brands is just a way of life. The brands were woven into the screenplay in a manner where it looked like a modern day college going youth was using the product natural yet conspicuous. Baghban: One of the clear cases of effective placement in recent times was BR films family drama Baghban. The movie creatively integrated five brands in it. The brands included were ICICI Bank, Tata Tea, Archies, Ford and Tide. Baghban truly depicted the craft of product placement. And these are not mere stating of the brands featured. These placements result in stupendous impact in consumers as delineated by the sales figures of the featured brands, before and after product placement. After Bournvita featured in Krrish, it reported a increase in sales by 15% and intention to use brand by 9%*. Domios registered greater footfall in its outlets after its placement in Phir Hera Pheri. Garnier recorded a product recall of 46% after it got featured in the movie Chup Chup Ke. Lays got an additional endorsement from Priyanka Chopra after she was shown munching on the snack in Krrish, thus re-establishing Lays as cool snack.   After Reebok featured in key scenes in Viruddh, the brand boasted of having got verbal endorsement of Amitabh Bacchan, and extensive reach through multiple showcasing of the film on multiple vehicles. Tanishq recorded a average minimum revenue of 1.45 crore from its Paheli collection. And as if that was not all, they recorded a increase in purchase intent by 13% and favorability of the brand by 10%!!! That says a lot about the success of brand placements. FAILURES There is always the other side of the coin! Academicians from Universities say that currently, embedded advertising still needs to grow in India. It is like a deranged marriage, the brand most often does not fit into the film the way in which it should. The reason is that most filmmakers still do not think of it as a revenue stream, they say. So apart from the huge successes, there were some bad failures as well. Few of them are: Ta Ra Rum Pum: After you see drivers and cars layered by brands of their sponsors, Ta Ra Rum Pum a film on racing cars would seem like the perfect avenue to showcase such similar branding. After all seeing these brands is what weve come to expect, but corporate honchos didnt seem happy just with being there. So they mustve insisted on special close-ups and zooms for their brands. As a result we get a good dose of Castrol, Goodyear and Chevrolet periodically through this film. Salaam E Ishq: Salaam E Ishq was another product-friendly movie. With such an extensive star cast and lavish set designs the director mustve felt the need for corporations to cover up costs. Of the many placements there was one that stood there screaming for attention. John Abraham and Vidya Balan play a couple in love so on the day of their anniversary John decides to gift his lady love with a diamond set. For those curious about the brand, it was Ira Jewellery and the makers give more than a glimmer to those who wonder. To make things worse, the camera decides to zoom more on the brand than the jewels. Victoria 203:   If youre one of the few people that watched the remake of Victoria 203, youd probably be gripped by the urge to buy diamonds, more specifically Gitanjali Diamonds. Thats because Gitanjali has been constantly mentioned throughout the first half an hour. The makers go to the extent of giving the viewers an unwanted history lesson about the Choksi family that owns the company and their legacy. VirruddhFamily Comes First: In terms of product placements, Viruddh went to the extent of shoving their branded products down audiences throats. What made this blatant promotion unbearable was that Virruddh was made as a serious film about a grieving family and their dead son. Obvious instances were where Sanjay Dutt posed with a can of Elf Oil in his garage and John Abraham praised how great the services of Western Union Brand Placement in the Indian Film Industry Brand Placement in the Indian Film Industry Churning out nearly 1,000 films a year, the Indian film industry is the largest in the world. Now, aided by technological advancements, the industry is set to take a further leap across production, exhibition and marketing. In such a scenario, product placement in mainstream films deserves a renewed focus because as a marketing communication tool, it is fast emerging as the medium with maximum potential to capture and covert audiences to potential consumers. This is especially relevant in a world where traditional media vehicles are increasingly failing to reach the consumers for various reasons.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Brand/product placement is a promotional tactic used by marketers in which a real commercial product is used in fictional media, and the presence of the product is the result of an economic exchange, it is an advertising technique in which the companies pay a fee or provide service in exchange for a prominent display of their product. Product placement occurs in plays, films, television series, music videos, video-games and books. The objective of such brand communication is to expose the audience to a brand, whereby the effect can be maximized in terms of increased awareness and higher recall, so that the customer will buy the brand which has maximum recall; and to satisfy the customer to optimum level.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This research paper looks at the rationality of brand placement, the possible congruity that can be built in the story, as indicators of success of effective brand placement in films and if so, as variables in bringing desired change in consumers attitude. The paper highlights the basic reasons for placing products and brands in Mainstream Hindi films and the effectiveness of these placements as a tool for enhancing the recall value of brands in long run brands in the films. This paper also gives insight as to how audiences react to product placement, do they think it as an effective alternative media, if it has any impact on them and if they find it ethical.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research incorporated case studies of four mainstream Hindi films, selected on basis of their box office fate and the amount of brand placement. These films are then anaysed in terms of effectiveness of the variety of placements in bringing the desired recall and recognition values. The four films selected include Om Shanti Om, Goal, Chak De! India, and Lage Raho Munna Bhai. The research concludes with suggestions regarding areas for future research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Product placement has come as a blessing in disguise for both, the brand and the filmmaker. Through it, the brand managers get the clutter breaking opportunity to look beyond the 30 sec TV commercial and the filmmaker gets to earn huge revenues by just showing the brand being used by protagonist or let it exist in the background. The deal is just perfect for both of them. But the most important person in the deal is the consumer who is vigilant and smart enough to notice whats served to him and has reservations against in your face placements. Surely he does not want more intrusion in his life. Hence, product placement has arrived and here to stay. But a word of caution is to be always kept in mind, by both the brand and the filmmaker- if as communication purveyors they are looking for better and innovative means of reaching the consumer, the consumer himself is already bombarded with marketing tactics from all over and in the three hours of movie, he would want to forget about all these intrusions, including advertising. Thus overdose of brand placement will only drive away the consumers from the cinema halls, resulting in a flop film and a failed marketing endeavor. INTRODUCTION BACKGROUND The Concept of Product Placement Product Placement in Movies Types of Product Placement Brand Placement is Different from Celebrity Endorsement The Opportunity of Brand placement, Consumer Information processing and Issue of Brand Congruity WHAT IS PRODUCT PLACEMENT? A product placement is the inclusion of a product, package, signage, a brand name or the name of the firm in a movie or in a television programme for increasing memorability of the brand and instant recognition at the point of purchase. Placements can be in form of verbal mentions in dialogue, actual use by character, visual displays such as corporate logo on a vehicle or billboard, brands used as set decorations, or even snatches of actual radio or television commercials. The objective of this communication strategy is to expose audience to a brand, whereby the effect can be maximized in terms of increased brand awareness and higher recall, so that the customer will buy the brand which has the highest recall; and to satisfy the customer to optimal level. Because of proliferation of advertisements and the consequent difficulty in getting commercial messages to reach and influence potential customers, product placement appears as an interesting alternative to traditional marketing communication tools. Basically, there are three ways product placement can occur: It simply happens. Its arranged, and a certain amount of the product serves as compensation. Its arranged, and there is financial compensation. Sometimes product placement just happens. A set dresser, producer, director, or even an actor might come across something he thinks will enhance the project. Usually this has to do with boosting the level of credibility or realism of the story being told. Example can be use of Tata Indigo car in movie Aaja Nachle. The car has been used to as mode of transport for the lead actress both when she arrives from abroad and when she goes back. Interestingly the vehicle is widely used as commercial luxury vehicle in many Indian towns. So use of this car added a touch of realism in the movie. However, when contacted, the representatives of the car company denied being approached about the use of their product. Arranged product placement deals fall into two categories: Trade-off of integration or placement for a supply of product Financial compensation for placement or integration The most common type of deal is a simple exchange of the product for the placement. Example, lets say the production team wants lead actor to display a quirky affinity for a particular type of beverage. This will come across rather strongly over the course of the program which means the chosen product could get a lot of air time. It turns out that someone on the crew knows someone who works for that beverage. The production people approach the beverage company folks with a proposal and a deal is made; in exchange for the airtime, the cast and crew are provided with an ample supply of the beverage at work. Example: the movie Krish where the lead actor drinks a lot of Bournvita. Sometimes, a gift of the product isnt an appropriate form of compensation, so money powers the deal. Imagine that the marketing team at Tag Heuer has heard about this project and feels that, given the star power of the actor playing lead, this project would be a great vehicle for showcasing its product. Someone from Tag Heuer approaches the set dresser with a financially lucrative proposal. Eventually, they come to an agreement and the wristwatch casually appears in several scenes. Before product placement really saw a surge in the mid 1990s, it was pretty much a do it yourself effort. Now there are specific corporate positions and entire agencies that can handle the job. Some larger corporations will dedicate personnel to scout out opportunities for product integration or placement within films, television shows and even games and music. Good example would be Madisons specialized division for in-film branding, MATES. PRODUCT PLACEMENT IN MOVIES Every frame in a movie has an opportunity for branding. With that intent, a number of marketers are now using movies to project the core values of their brands. In-film advertising, in its most effective form, is about a brand being a part of cinemas content. Many global brands are now turning to this medium for the sheer impact that a movie can make on its audiences. Product placement in movies has gained momentum all over the world. The practice of using branded products in Hollywood movies started as casual process since 1940s. The earliest example would be 1945 movie Mildred Pierce with film star Joan Crawford drinking Jack Daniels bourbon whiskey. The current Hollywood movies feature a plethora of products ranging from telecommunications (Motorola, Nokia), automobile (Audi, BMW, Chrysler, Jeep, Lada and Mercedes) to other products like FMCG goods, Tobacco etc. Good examples are James Bond movies. Indian mainstream Hindi films, popularly known as Bollywood the world over, caught up with the trend in 1970s with Rajkapoor using Rajdoot in his movie Bobby. Popularity of movies as medium for product placement grew because of the increasing difficulty of using television as an effective medium to target audiences. The film medium provides an excellent message reach and message life and an effective method of popularizing and immortalizing brands. One of the key drivers for movies becoming a popular medium for product placement has been the increasing difficulty of using television as an effective medium to target audiences. The advent of cable and satellite television has meant that audiences have become more fragmented and tend to demonstrate a greater level of ad avoidance. By contrast, the film medium provides an excellent message reach and message life and an effective method of popularizing and immortalizing brands. The movie-goers vicariously experience the brand as they make a connection between the film, the actor, the product and its consumption, and argue that product placement acts as a perceptual clue which directs behavior to purchase a product to satisfy a need or reinforce a social status. Movie product placement is viewed as a cheaper and more effective alternative to traditional marketing communications, despite its inflexibility, but as a result of the establishment of specialist placement agencies, and thro ugh increased brand exposure through cable, satellite, video and DVD, a typical movie with international distribution can reach over one hundred million consumers from box office to TV. There seem to be three reasons why marketers consider product placement in movies as interesting communication strategy. First watching a movie is high attention and involving activity. The particular exposure context associated with movies in theatres (lights off, minimal noise and distraction possibilities, large screen, difficulty in moving around, no zapping) is bound to lead to a high level of consumer attention as opposed to, say, listening to television. In addition, movie goers expend some significant effort (choosing a movie, driving to the theatre, finding a parking space, staying in line, finding a seat) and money (transportation, parking, tickets) in order to go to a movie and therefore quite involved during the show. Second, successful movie attract large audiences. A blockbuster movie like Om Shanti Om for instance has been seen by millions of people, and this does not include video purchases and rentals, and eventual television broadcast. Therefore from a strict cost per viewer point of view, a product placement in a movie is a real bargain. Finally product placement represents a natural, non aggressive, non persuasive way of promoting brand or a firm. Hence it may lead to less counter arguing and internal zapping from consumers. Such success stories firmly establish the importance of product placement. The use of feature films as a strategy for introducing new products has grown increasingly sophisticated. Savvy marketers now build elaborate marketing communication plans cross-promoting films and brands. For example, Audi used 2004s Babul, a film by Ravi Chopra, as an integrated element for introducing a new model, the Audi A6. It was judged the most successful promotion of 2004. Subhash Ghai was one of the early filmmakers to do product placement on a real large scale. Bollywood insiders say Ghai recovered production cost from Coke and other products even before the release of films like Yaadein and Taal. In future 40% of a films revenue will accrue from streams like TV, online rights, product placements and digital downloads. Video-on-demand, IPTV and DTH are already fetching handsome returns. Then, of course, there is the overseas market, which is expanding fast. In 2007 alone, at least a dozen Hindi Mainstream films have crossed a US $ 1 million mark in the UK an US. As successful marketing efforts incorporating motion pictures continue to mount, the casual use of brands as props will diminish. While current practice does not require filmmakers to identify brands placed in films, viewers can reasonably assume that prominently featured brands have offered some compensation or other consideration in exchange for the appearance. TYPES OF PRDUCT PLACEMENT In films, product placement can be divided into three broad categories: Implicit Mode: in this the star appears in a situation and is seen openly stating that he is using the product/brand. For example, in the movie Chalte Chalte, Shahrukh Khan is seen asking his worker to fill Castrol in his truck. Imperative Mode: In this the star would ask his friend/co-worker/peer to use the product. For example, in the movie Koi Mil Gaya, Hritik Roshan is seen recommending Bournvita to Priety Zinta and her mother in the film. Co-present Mode: in this, the star appears in some kind of setting with the product or he or she could be seen consuming or using the product. In the movie Diljale, love is the ulterior theme, and Sonali Bendre, the lead actress is shown expressing her love through Archies cards, thus revolving around the social expression feel of the Card makers. BRAND PLACEMENT IS DIFFERENT FROM CELEBRITY ENDORSEMENT The celebrities endorse product and brands with commercial reasons, which normally come in the breaks in television programmes or in cinema halls. The phenomenon of zipping and change in television usage behavior due to surfing during the commercial breaks has reduced effectiveness of television commercials. Similarly commercials of cinema hall are found to be of low involvement as audience takes them as blocks between the reasons of visiting the cinema hall and the time available to them for entertainment. So the brand communication and the entertainment product are viewed differently from the audience of both media. Brand placement provides an opportunity where the involved audience gets exposure to the brands and products during the natural process of narration of movie or television commercial. THE OPPORTUNITY OF BRAND PLACEMENT, CONSUMER INFORMATION PROCESSING AND ISSUE OF BRAND CONGRUITY   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Of late there have been attempts by Indian producers and brand managers to come together and place the brand in a situation where the audience is captive and more prone to show high level of retention. Many consumers and researchers are of the view that this method is excessive commercialization of media and intrusion in life of viewer.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The viewer does not necessarily go there to see the brands; rather he is going to the cinema hall to escape from the realities of life. Brand managers are using different type of placements to make the brand look obvious at the point of emergence. They are also integrating the brand presence with the plot of the cinema, so that the audience does not feel the brand to be out of context. The brand should also be reflective of the class of user of character in the film. If the plot connection is missing and the brand is not reflective of the characters class of usage, then probably the whole brand placement exercise will be futile. The success of Indian movies is not based on sound fundamentals which is evident from the number of feature films flopping every year. So if the vehicle in which the brand is placed does not have the required viewership, then the tariff charged to bring brand at some point of the story will also go in drain .   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Films are selected as context of research for various reasons as explained below.   Compared to television, movie viewing has higher involvement. While watching a television programme, the viewer can do multifarious work at home setting, which may affect the attention degree span of the audience and hence, reduce the overall effectiveness of the medium for enhancing brand retention. In opposition to this argument, is the movie going behavior where the viewer makes a voluntary choice for viewing (exposure) a specific film (product) at a cost (time, financial, opportunity cost) for the purpose of wholesome entertainment. So he is more receptive to brand communication provided to him in the movie hall while watching the movie of his choice.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It has been observed from research that brand recall for commercials shown during the television programmes with higher level of TRPs are very poor due to the channel switching behavior. High level of media clutter, similarity of programming across channels, channel switching behavior are the factors responsible to generate sufficient level of research interest in researchers at the practice of brand placement in movies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Brand placements are used to increase the level of brand knowledge among consumers as in every advertising medium. The uniqueness of the medium is found in the process of exposure and congruity of brand in the story. There is no competitive exposure in the same medium at the same time, unlike television of newspapers. This is significant as it may increase the level of brand knowledge. Brand knowledge is conceptualized as brand node in memory to which a variety of associations are linked. So it is important to identify the properties of the brand node and brand association.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The factors important for product placement include the level of abstraction and qualitative nature of the brand memory effect and the congruity among brand associations affects the favorability, strength and uniqueness of the brand associations. The factors being: Brand awareness: It is the strength of brand node or trace in the memory as reflected by consumers ability to identify the brand under different conditions. Brand image: It is the set of perceptions, held in the consumers memory, as reflected by brand associations. Are the other informational nodes linked to the brand node in memory and contain the meaning of the brand for the consumers? Brand Attitudes: they are the overall evaluation of the brand by the consumers. They often form the basis of consumers choice. Other variables affecting Brand placement are- Favorability of Brand Associations: Associations differ according to how favorably they are evaluated. The success of a marketing program largely depends on the ability of the marketing program in creating the trust among consumers that the attributes and associations benefits are there in the brand talked about in communications. The Strength of Brand Association: It depends on how the information enters consumers memory (encoding) and how it is retained as part of brand image (storage). Strength is a function of both the amount or quality of processing information received at encoding (how much the person thinks about the information) and the nature or quality of the information at the encoding end (the manner in which the person thinks about the information). Congruence of a Brand: the congruence of the brand with the story of the film and presentation in the film is another measure. Congruence is defined as the extent to which the brand association shares the content and meaning with other brand associations. This explains how easily one existing brand association can be recalled and how additional associations can be linked to the brand node in memory. Brand Leverage: Compares the characteristics of the secondary associations with those of primary brand associations. The secondary associations are derived out of the usage of the brand by the character in the film. Example in the film Taal, the hero uses the bottle of Coke as a symbol of exchange of love and this contextual placement increases the strength of association of the brand. Earlier researches have shown the importance of a strong link between the brand and the film. The stronger the link, the greater is the impact between the brands image and the attitude towards the brand sponsor.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Increase in product placements and institutionalization of the industry indicate that advertisers are using the technique to sway consumers brand attitudes. The type of placements should look natural to the narration, as consumption symbols are often used to enrich the plot, theme and characters of popular culture texts. Some consumers may feel that the use of brand names in popular culture simply reflects the increased commercial content of a culture or the producers efforts to enhance the realism of their film. However, in case where the brand takes a major role in the story of the film as in the movie Friends, or where its presence in the movie might look suspect as in the movie Yaadein, the audience may realize that it was placed there to affect their judgments and they may counter argue them just as they do to the traditional advertising messages. Advertising gurus claim that in-film advertising is a very shaky business and most marketers have a tendency and temptation to go overboard with the result that the film would end up becoming a long advertising commercial. Others say that since marketers always tried to stretch their advertising rupee in order to obtain the maximum bang for their buck with the result that brand suffered. However, most advertising professionals vouch for the fact that films, by virtue of being quite engaging, are one of the cost-effective and effective mediums for advertising. If a consumer watches a particular scene and the advertisement is well embedded into that, it will remain, they say. This can be referred to the fact that the girls beating the boys fighting sequence in Chak De has been referred to as the McDonalds fight scene merely because it takes place in one of the outlets. Again, there is no mention of McDonalds in the entire film as it has been seamlessly embedded. Film content of any kind can be used to build brands. The last one year has been rather active in terms of in-film placements and branding through films. However, the placement of brands such as Ultra Tech poses a big challenge especially considering that there is no obvious benefit in sticking to stereo-types and force-fitting the Brand in films theme or storyline, he said Literature survey in the Indian context was more disheartening despite the fact that brand placement is used more and more in Indian films these days. There are hardly any evidences of work carried out on brand placement in Indian Movies.   The Indian Hindi film industry id the largest in the world in terms of number of movie produced. Yet the success rate of the movies in Indian film industry is very less. If a proper research on brand placement can be done, it can guide the producers, brand managers and academicians to develop and effective brand placement strategy in which the risk of the film making and failure will come down substantially in the Indian market. The producers can charge a price for the brand placement and cover a production cost; the brand managers will find a platform to communicate with the audience about their brands in more effective manner than conventional television advertising. PROMINNENT EXAMPLES OF SUCCESSFUL PRODUCT PLACEMENTS IN SOME MAINSTREAM FILMS (In Recent Times) SOME FAILURES TOO SUCCESSES Bollywood has finally discovered branding. In 2007, according to industry estimates, brand cameos earned around Rs 200 crore, and as a result, even small-and medium-budget movies as well as animated films are hoping to cash in on this new and lucrative revenue stream. Indeed, media analysts and industry watchers expect that figure to climb to Rs 800 crore by 2010. Some of the select successful instances of brand placement in recent times are cited below: Rang De Basanti: Rakyesh Omprakash Mehras Rang De Basanti was probably the most successful Bollywood branding in 2006 with its limited edition RDB Coca-Cola bottle, and cameos of Airtel, LG, Berger and Provogue in the film. Coke, in a first of its kind attempt, launched Coca-Cola bottles branded with the RDB title and Amirs picture and produced a movie trailer that was a montage of shots from the film and Cokes Piyo Sar Uthake campaign. Just the right kind of media partners, the films marketing ensured good and effective publicity and both the brands and the movie generated a lot of mileage from each other. Krrish: Rakesh Roshans Krrish, now a case study of Indian Institute of Management, Indore, prominently featured Singapore Tourism Board, Sony, John Players, Bournvita, Tide, Hero Honda, Boro Plus, Lifebuoy, HP Power, Acron Rangeela, Hansaplast and Lays chips, followed by merchandising of Krrish masks, lunch boxes, water bottles. Its merchandising sold like hot cakes among children. Krrish made 12 crores out of product placement. Don: Farhan Akhtars Don promoted Tag Heuer watches, Motorola, Garnier, Citibank and, of course, Oakley sunglasses as well as Louis Philippe outfits. The placement ensured that the viewer noticed dons phone, his laptop, his watch, hia sunglasses and the brand names were the focus of the camera work. But it was still done in a subtle way and did not come across as being imposed on viewer. Dhoom 2: Sanjay Gandavis Dhoom 2 promoted Coke, Pennzoil, Pepe, Sony, Disney channel, Sugar Free, McDonalds, Speed, and Suzuki Zeus. The movie was quite an opportunity for Coke, for both the brand ambassadors of Coke were starring in the movie together for the first time. The cool couple drinking the always coolest drink, perfect for Coke! The cola company had a special campaign for Dhoom 2 where Hrithik Roshan encouraged youngsters to take a swig and go dhoom. Main Hoon Naa: Farah Khans first movie Main Hoon Naa featured the following brands- Reebok, Cafà © coffee day, Frito Lays, Levis, LML. MHN was an example of optimum utilization of branding in a film. The story of the film revolved around youth hence it gave us the scope of using lifestyle and youth centric brands. The brands that were involved were the ones keeping the modern day college goers in mind, for which using brands is just a way of life. The brands were woven into the screenplay in a manner where it looked like a modern day college going youth was using the product natural yet conspicuous. Baghban: One of the clear cases of effective placement in recent times was BR films family drama Baghban. The movie creatively integrated five brands in it. The brands included were ICICI Bank, Tata Tea, Archies, Ford and Tide. Baghban truly depicted the craft of product placement. And these are not mere stating of the brands featured. These placements result in stupendous impact in consumers as delineated by the sales figures of the featured brands, before and after product placement. After Bournvita featured in Krrish, it reported a increase in sales by 15% and intention to use brand by 9%*. Domios registered greater footfall in its outlets after its placement in Phir Hera Pheri. Garnier recorded a product recall of 46% after it got featured in the movie Chup Chup Ke. Lays got an additional endorsement from Priyanka Chopra after she was shown munching on the snack in Krrish, thus re-establishing Lays as cool snack.   After Reebok featured in key scenes in Viruddh, the brand boasted of having got verbal endorsement of Amitabh Bacchan, and extensive reach through multiple showcasing of the film on multiple vehicles. Tanishq recorded a average minimum revenue of 1.45 crore from its Paheli collection. And as if that was not all, they recorded a increase in purchase intent by 13% and favorability of the brand by 10%!!! That says a lot about the success of brand placements. FAILURES There is always the other side of the coin! Academicians from Universities say that currently, embedded advertising still needs to grow in India. It is like a deranged marriage, the brand most often does not fit into the film the way in which it should. The reason is that most filmmakers still do not think of it as a revenue stream, they say. So apart from the huge successes, there were some bad failures as well. Few of them are: Ta Ra Rum Pum: After you see drivers and cars layered by brands of their sponsors, Ta Ra Rum Pum a film on racing cars would seem like the perfect avenue to showcase such similar branding. After all seeing these brands is what weve come to expect, but corporate honchos didnt seem happy just with being there. So they mustve insisted on special close-ups and zooms for their brands. As a result we get a good dose of Castrol, Goodyear and Chevrolet periodically through this film. Salaam E Ishq: Salaam E Ishq was another product-friendly movie. With such an extensive star cast and lavish set designs the director mustve felt the need for corporations to cover up costs. Of the many placements there was one that stood there screaming for attention. John Abraham and Vidya Balan play a couple in love so on the day of their anniversary John decides to gift his lady love with a diamond set. For those curious about the brand, it was Ira Jewellery and the makers give more than a glimmer to those who wonder. To make things worse, the camera decides to zoom more on the brand than the jewels. Victoria 203:   If youre one of the few people that watched the remake of Victoria 203, youd probably be gripped by the urge to buy diamonds, more specifically Gitanjali Diamonds. Thats because Gitanjali has been constantly mentioned throughout the first half an hour. The makers go to the extent of giving the viewers an unwanted history lesson about the Choksi family that owns the company and their legacy. VirruddhFamily Comes First: In terms of product placements, Viruddh went to the extent of shoving their branded products down audiences throats. What made this blatant promotion unbearable was that Virruddh was made as a serious film about a grieving family and their dead son. Obvious instances were where Sanjay Dutt posed with a can of Elf Oil in his garage and John Abraham praised how great the services of Western Union