Definition: Rebranding is the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market. Description: There are several reasons for a company to go for rebranding. One prominent factor is to connect with customers. Rebranding is good for the business, but at the same time it may be risky. There is always a possibility that the consumers do not like the new brand. There are two types of rebranding: one is Proactive rebranding and the other is Reactive rebranding. Proactive rebranding is done when a company recognises that there is an opportunity to grow, innovate, tap into new businesses or customers, and to reconnect with its users. Let’s understand with the help of an example – Titan Industries rebranded itself in 2013 and changed the logo as well as the name to Titan Company. The new logo highlighted the company’s commitment to "create value, innovate, and maintain highest global standards". Reactive rebranding is done in a situation when the existing brand has be discontinued or changed. Possible reasons for such a action could be mergers & acquisitions, legal issues, negative publicity such as fraud, aiming to beat the competition, or create your own niche. Let’s understand with the help of an example. Following the revelation of 2009 fraud, Satyam Computer Service was pushed to the brink of bankruptcy. The company was sold to Tech Mahindra. The whole process was overlooked by government authorities and Tech Mahindra then rebranded the company as ‘Mahindra Satyam’ and in the year 2013, it merged itself with Satyam Computer Services.Read More
Sampling Methods Essay
2036 Words9 Pages
Sampling is the framework on which any form of research is carried out. A suitable sample that meets the inclusion and exclusion criteria of a research design must be chosen from a given population to carry out studies. In this essay comparison is made between stratified random sampling and convenience sampling. The population on which the researcher is interested in carrying out his or her research may be too large, therefore a suitable sample which can represent the population in correct proportion must be chosen. Restraints such as limitation of time, resources and many other factors necessitate the selection of a sample for research purpose so that better quality data is obtained from it and that the researcher can make statement about…show more content…
The methodological strength and weaknesses of this two sampling methods is discussed in terms of identifying the samples for research, the representativeness it possesses to the general population, the methods and the outcome.
Stratified random sampling is a probability sampling where the selection of sampling unit is left to a random process, all units in the sample has an equal and non-zero chance of being selected on a probability ground or chance and not on the choice or judgement of the researcher (Sim,J and Wright,C. 2000,). Convenience sampling is an example of non probability sampling where the selection of the units is not by chance, rather it is dependent on the researcher’s judgement, the researcher decides the samples to be included in the study which may be subject to availability, time, individual preferences etc. The probability of selection of a particular sampling unit may or may not be known.
Stratified random sampling is commonly done in quantitative researches. When the samples reflect the characteristics of the target population in the same proportion; assumptions can be made on generalizing the data acquired from these samples provided it has been done correctly, since it is statistically representative (Sim,J and wright,C.,2000) but sampling error