Damini verdict Delhi gangrape: All four convicts will Hang

Delhi gang-rape convicts get death

Damini rape case accused | Delhi Gangrape | Accused hang till death |  Nirbhaya gang rape convict | Delhi gang rape Damini Nirbhaya |  December 16 Delhi gangrape case |

All four men convicted of raping and murdering a 23-year-old woman in Delhi were sentenced to death on Friday, nine months after a crime whose savagery triggered furious protests across India and rare national debate about violence against women.

"Everybody got the death penalty," defence lawyer A.P. Singh told reporters outside the Delhi courtroom, where dozens of police had formed a barricade to keep crowds back.

One of the four men sentenced to death by hanging, gym instructor Vinay Sharma, was dragged out of the court crying.

The victim, who was raped for an hour and tortured with an iron rod on a moving bus, became a symbol of the dangers women face in a country where a rape is reported on average every 21 minutes and acid attacks and cases of molestation are common.

The special court that convicted the four accused in December 16 Delhi gangrape case  has reserved its order on the quantum of punishment for Friday.

In the course of arguments spread over nearly three hours on Wednesday, the prosecutor demanded the death penalty in order to assuage "society's conscience", while the counsel for defence sought mercy on grounds of the young age and extreme poverty of the convicts.

Delhi gangrape: All accused held guilty of rape, murder

"Society today feels that no woman in this country is safe... Now it is up to the court to decide and change this," special prosecutor Dayan Krishnan said in conclusion to his arguments.

Advocate V K Anand, counsel for Mukesh Singh, the younger brother of alleged ringleader Ram Singh who was found dead in his Tihar cell in March, invoked the tragedy of the men's mother.

"Main iski ma ki taraf se aapse daya ki bheekh mangta hoon," Anand said. "His mother has already lost a son. Like the victim's mother, she too is asking for justice." Besides, Anand argued, "Mukesh was driving the bus, how could he know what was happening?"

'Advertising Budget'

Question: What ia an 'Advertising Budget'? What are the factors to be taken into consideration before preparing 'Advertising Budget'?

'Advertising Budget'

An Advertising Budget is an estimation of a company's promotional expenditures over a period of time. An advertising budget is the money a company is willing to set aside to accomplish its marketing objectives. When creating the advertising budget, a company must weigh the trade-offs between spending one additional advertising dollar with the amount of revenue that dollar will bring in as revenue.

The advertising budget of a business is typically a subset of the larger sales budget and, within that, the marketing budget. Advertising is a part of the sales and marketing effort. Money spent on advertising can also be seen as an investment in building up the business.

An estimation of a company's promotional expenditures over a period of time. An advertising budget is the money a company is willing to set aside to accomplish its marketing objectives. When creating the advertising budget, a company must weigh the trade-offs between spending one additional advertising dollar with the amount of revenue that dollar will bring in as revenue.

The advertising budget of a business is typically a subset of the larger sales budget and, within that, the marketing budget. Advertising is a part of the sales and marketing effort. Money spent on advertising can also be seen as an investment in building up the business.

In order to keep the advertising budget in line with promotional and marketing goals, a business owner should start by answering several important questions:

1. Who is the target consumer? Who is interested in purchasing the product or service, and what are the specific demographics of this consumer (age, employment, sex, attitudes, etc.)? Often it is useful to compose a consumer profile to give the abstract idea of a "target consumer" a face and a personality that can then be used to shape the advertising message.

2. What media type will be most useful in reaching the target consumer? These days, a small or mid-sized business will not only consider print, radio, and television ads, but -- more importantly, perhaps -- the Internet as a way of reaching customers.

3. What is required to get the target consumer to purchase the product? Does the product lend itself to rational or emotional appeals? Which appeals are most likely to persuade the target consumer?

4. What is the relationship between advertising expenditures and the impact of advertising campaigns on product or service purchases? In other words, how much profit is likely to be earned for each dollar spent on advertising?
Answering these questions will help to define the market conditions that are anticipated and identify specific goals the company wishes to reach with an advertising campaign. Once this analysis of the market situation is complete, a business must decide how best to budget for the task and how best to allocate budgeted funds.

BUDGETING FOR ADVERTISING

To be successful, advertising should carry messages that appeal to your customers when they want to buy and reach them through the media they use. It's amazing how many ad campaigns are based on trying to resolve a business problem -- i.e. clearance sales designed to reduce inventory using such slogans as "Everything Must Go" or "Must Reduce Overstocks." The U.S. Small Business Administration advises businesses that the main ingredient for successful advertising is to pitch your products or services to resolve a customer's problem. Given this, the SBA suggests that your advertising budget should be based on the following criteria:

• Time your ad campaign for when the customer wants to buy, not based only upon when you want to sell.

• Advertise items that will be popular with customers, instead of basing this decision on what items you want to get rid of.

• Ads should be written to tout customer benefits.

• Choose your advertising medium based on the ability to reach prospective customers.

Usefulness of Consumer Oriented Sales Promotion in FMCG

What is FMCG?

FMCG refers to Fast-Moving Consumer Goods (FMCG) or Consumer Packaged Goods (CPG). FMCGs are products that are sold quickly and at relatively low cost.

Fast Moving Consumer Goods (FMCG), also known as Consumer Packaged Goods (CPG), are products that have a quick turnover, and relatively low cost. Consumers generally put less thought into the purchase of FMCG than they do for other products. Although the absolute profit made on FMCG products is comparatively small, they are generally sold in large numbers. Hence profit in FMCG goods generally scales with the number of goods sold, rather than the profit made per item.

The FMCG product category generally includes a wide range of frequently purchased consumer products including toiletries, soaps, cosmetics, teeth cleaning products, shaving products and detergents, as well as other non-durables such as glassware, bulbs, batteries, paper products and plastic goods. FMCG may also include pharmaceuticals, consumer electronics, packaged food products and drinks, although these are often categorized separately.

Characteristics of FMCG Products

•  Individual items are of small value. But all FMCG products put together account for a significant part of the consumer's budget.

•  The consumer keeps limited inventory of these products and prefers to purchase them frequently, as and when required. Many of these products are perishable.

•  The consumer spends little time on the purchase decision. Rarely does he/she look for technical specifications (in contrast to industrial goods). Brand loyalties or recommendations of reliable retailer/dealer drive purchase decisions.

•  Trial of a new product i.e. brand switching is often induced by heavy advertisement, recommendation of the retailer or neighbors/friends.

•  These products cater to necessities, comforts as well as luxuries. They meet the demands of the entire cross section of population. Price and income elasticity of demand varies across products and consumers.

Consumer Oriented Sales Promotion in FMCG

In ever changing world scenario hyper competition has become a regular phenomena. Today the markets are full of competition and every organization has to strive very hard for survival and growth. Because of very rapid industrialization all over the world the demand for the managerial skilled employees, officers and the administrative personnel has increased. The perfect study of Management involves both the theoretical as well as practical aspects. To survive in this highly competitive market “Practical Knowledge” is as relevant as the Theoretical. The significance of MBA Degree is that the Theoretical aspects, which a student learns throughout the year in the class sessions, can be practically applied through different projects, which one undertakes. Keeping in tune with this doctrine, we have tried to apply theoretical aspects throughout the project, which we learned under the course of management. In this project more emphasize given to the various tools of sales promotion and its impact on consumers buying decisions.

Actually in recent trend to some extent this technique also become victim of clutter, even though it can be eliminated by generating innovative and more attractive tools to lure the customers. Now a day most of the FMCG companies considering sales promotion as an important part of their marketing strategy. From the analysis of survey it becomes clear that consumers do response to the sales promotion campaign, but there are customers who strongly prefer to stick to brand name.

The term FMCG (fast moving consumer goods), although popular and frequently used does not have a standard definition and is generally used in India to refer to products of everyday use. Conceptually, however, the term refers to relatively fast moving items that are used directly by the consumer. Thus, a significant gap exists between the general use and the conceptual meaning of the term FMCG.

Further, difficulties crop up when attempts to devise a definition for FMCG. The problem arises because the concept has a retail orientation and distinguishes between consumer products on the basis of how quickly they move at the retailer's shelves. The moot question therefore, is what industry turnaround threshold should be for the item to qualify as an FMCG.

Promotion is one of the important elements of marketing mix. There are so many elements of promotion such as …

• Advertising;
• Direct Marketing
• Public Relations
• Sales Promotion

Traditionally, sales Promotions have been used by marketer to increase sales in the short term. However, in the last few decades this communication tool has evolved and now is considered from a strategic point of view. For this reason, it is necessary to realize new studies in this area and study how consumers evaluate sales promotions.

Sales promotions have grown in both importance and frequency over the past few decades. Although an accurate estimate for total sales promotions expenditures does not exist, we can be sure that the trend is up.

Sales promotion serves three essential roles: It informs, persuades and reminds prospective customers about a company and its products. Even the most useful product or brand will be a failure if no one knows that it is available. As we know, channels of distribution take more time in creating awareness because a product has to pass through many hands between a producer and consumers.

Therefore, a producer has to inform channel members as well as ultimate consumers about the attributes and availability of his products. The second purpose of promotion is persuasion. The cut throat competition among different products puts tremendous pressure on their manufacturers and they are compelled to undertake sales promotion activities. The third purpose of promotion is reminding consumers about products availability and its potential to satisfy their needs.

Doctrine of Indoor Management Under Indian Company Law

The Doctrine of indoor management is a presumption on the part of the the people dealing with the company such as the shareholders that the internal requirements with regard to the articles of association and memorandum of association have been complied with.

The doctrine of indoor management helps in protection of external members from the company and states that the people are entitled to presume that the internal proceedings are as per the documents submitted with the registrar of companies.

They are not allowed to go into the procedural aspect, such as the fact that the internal proceedings might not happen regularly, or what are the proceedings before the directors, in an extraordinary general meeting.

The Doctrine of indoor management is an exception to the rule of constructive notice. It imposes an important limitation on the doctrine of constructive notice. According to this doctrine "persons dealing with the company are entitled to presume that internal requirements prescribed in memorandum and articles have been properly observed". A transaction has two aspects, namely, substantive and procedural. An outsider dealing with the company can only find out the substantive aspect by reading the memorandum and articles. Even though he may find out the procedural aspect, he cannot find out whether the procedure has been followed or not. For example, a company may have borrowing powers by passing a resolution according to its memorandum and articles. An outsider can only found out the borrowing powers of the company. But he cannot find out whether the resolution has in fact been passed or not. The outsiders dealing with the company are presumed to have read and understood the memorandum and articles and to see that the proposed dealing is not inconsistent therewith, but they are not bound to do more; they need not inquire into the regularity of the internal proceedings as required by the memorandum and articles. They can presume that all is being done regularly.

Exceptions to the Doctrine of Indoor Management

The doctrine of indoor management is subject to the following exceptions of limitation:-

1. The rule does not protect any person who has actual or constructive notice of the want of authority of the person acting on the behalf of the company.
2. The rule cannot be invoked in favors of a person who did not in fact consult the company memorandum andarticles and consequently did not act in reliance of those documents.
3. If an officer of the company act in a manner, which could not ordinarily be within his powers, the person dealing with him must make proper enquiries and satisfy himself as to the officer authority. If he fails to make enquiry, he cannot rely on the rule Anand Biharilal v. Din Shaw and co
4. The rule does not apply where a person relies upon a document that term out to be forged since nothing cans valid ate forgery. Ruben v Great Fingall Consolidated Ltd.
5. The rule does not apply to transactions which are illegal ar void-ab-intio.

Agricultural Marketing in India

Agricultural Marketing 

Agricultural marketing can be defined as the commercial functions involved in transferring agricultural products consisting of farm, horticultural and other allied products from producer to consumer. Agricultural marketing also reflect another dimension from supply of produce from rural to rural and rural to urban and from rural to industrial consumers. In the olden days selling of agricultural produce was easy as it was direct between the producer to the consumer either for money or for barter. It brief, it was selling not marketing. In the modern world it became challenging with the latest technologies and involvement of middlemen, commission agents who keep their margins and move the produce further. As it is well known more the number of mediators more will be the costs as each transaction incurs expenses and invites profits. Ultimately when it comes to the producer the cost of the produce goes up steep. In the entire process of marketing the producer gets the lowest price and the ultimate consumer pays the highest as the involvement of more middlemen in the entire distribution process.

Market information is an important aspect of Agricultural Marketing. The importance of sound agricultural marketing policies for ensuring fair returns to the farmers can hardly be over-emphasized. It, therefore, becomes necessary on the part of regulatory agencies to ensure remunerative prices to the farmers for the sale of their produce, to boost up their efforts for increasing and sustaining the agricultural production. A number of measures have been taken by the Government to protect and safeguard the interests of farmers, like regulation of markets, grading of agricultural produce, cooperative marketing etc. Still the benefits are not percolating down to the farmers, as they are unable to plan their strategies for sale of their produce at remunerative prices, in the absence of correct and timely market information and advice about arrivals, prices, market trend, etc.

AGRICULTURAL SCENARIO

Indian agricultural has set new mile stones in its progress. Tremendous strides have been made in recent past . All time high record of production of 209 million tonnes of food grains in 1999-2000 and 137 million tonnes of fruits and vegetables etc reminds us of reviewing the past and the strategies to be conceptualized keeping in view the future and fast changing scenario. The increased trend in production has brought in its wake new challenges to handle in terms of huge marketable surplus. A strong and efficient marketing systems is the core content of agricultural Marketing in the country keeping in view thee management of Marketable surplus. It is also noteworthy to find the markets overseas keeping in view the policy of liberalization .

What are Agribusinesses ?

ASF defines Agribusinesses as “all enterprises that assemble, process and transform raw agricultural commodities into final products for distribution to local and international consumers”

ASF works in the following Agribusiness Sub-Sectors

Fresh Horticulture (All fruits & vegetables – Processed to increase shelf life)

Floriculture (ornamental) products
Processed horticultural products (frozen, canned, dehydrated, freshly cut, in brine etc)

Processed dairy products

Processed Meats & Livestock Products

High Value Agricultural products suited to small farms (high quality wood, vanilla, black pepper, saffron & other spices).

Channels involved in Agricultural Marketing

Most of the Agricultural produce is indirect channels ( different agents and retailers) because of lot of care is required and money is invested by different stake holders, while transport, keeping in view of perishableness. the highest wastage is agricultural produce when compare to other non - agricultural produce. with in agricultural produce again two different kinds, perishable and non-perishables ( grains pulses etc.) the perishable agricultural produce is Fresh fruits and vegetables (ffv). 

Direct marketing channels for Agricultural produce is apanimandi and rythubazaars etc. in this, there is no middlemen are involved, direct grower/producer and consumer or customer interpace. These innovations are taken place for the benefit of both farmer and consumer after amendments of APMC act

What are the challenges thrown up by the growing influence of these agribusiness firms, and how can their monopoly and unfair practices be regulated? 

Global corporations now control one-third of the world's productive assets and three-quarters of all world trade. Agribusiness firms have matured steadily over the last several decades, with the result that small processors and small agricultural producers have become a shrinking part of the landscape. The increased consolidation of agribusiness firms in the food industry has led to a more imperfect market.

Farmers are at a disadvantage because they are numerous, while processors are few. They turn up as price-takers with invariably no bargaining power. Firms wielding immense market power squeeze farmers from both sides. The market power of retailers, processors and grain companies dominates the agri-food chain and takes a larger and increasing portion of the producer's surplus, making windfall gains. They win both ways -- when prices fall as well as when they peak. On the other hand, farmers always bear the brunt, losing out during times of bumper production as well as low yields. 

The following methods could be used to regulate the unfair practices of Agricultural Marketing (agribusiness firms):

Introduce fairness in trade: All transactions should be done in a fair and transparent manner wherein farmers are made aware of the prevailing market price and receive a fair margin of the market share.

Strengthen cooperatives: Most developing countries have a large number of small farms and a collective mechanism of marketing and delivery of input through the cooperative movement. This goes a long way in providing a congenial atmosphere and mitigating the risks of marketing.

Public scrutiny of mergers and acquisitions (M&As): Most cartels exist on account of lack of effective regulation mechanisms and a review of competition policies. Stronger regulation and civil society participation in the review of M&As between companies could reduce imperfections in the market.

Strict auditing of food and trade flows: On account of lopsided trade rules and a restriction of State intervention in the marketplace, the role of transnational and multinational corporations is set to increase in the production and trade of food articles in developing countries. To regulate speculation, cartelisation and malpractice, strict auditing of food balances and trade flows needs to be carried out. Only such strong action will help check speculation as well as exploitation of natural resources.