Gain Laundry Detergent Assignment Example | Topics and Well Written Essays - 750 words

Gain Laundry Detergent - Assignment Example A true market segment has the same response to market stimulus and is reachable by market intervention. Market segmentation is necessary for any product to sell. However, it is necessary for a company to use unique bases of segmentation to make sure that its product sells well. Among the different bases that will be employed to segment a market, include geographical which is to be based on states, nations, and cities among others. Using this type of segmentation, the largest distribution store will be placed on a region with highest level of consumption of Gain Laundry detergent. Demographic segmentation is another type of market segmentation that will be based on age, gender, family size and income. Areas with high-income earners will receive special attention during distribution where the distributors will even be asked to deliver products at doorsteps of consumers (Porter, 1998). The other type of market segmentation is psychographic segmentation that is to be based on social class, lifestyles of people and personality characteristics. Gain Laundry detergent will be supplied to high social class individuals at special prices and this will be done using special designated cars. These cars will be known even to the clients being supplied to so as to close the loop of misconduct from suppliers as well as developing rapport on the consumers. Finally, there will be behavioral segmentation to be based on peoples’ behavior with reference to detergent consumption. Gain Laundry detergent will be distributed to some regions based on occasions, benefits sought for the product, rate of using and brand loyalty. Gain Laundry detergent is a competitive product and has several target markets to focus on. Women are first customers being targeted by the company distributing Gain Laundry detergent. This is mainly because women control most of households’ chores that

The popular crowd (summary and response) Assignment

The popular crowd (summary and response) - Assignment Example According to his study of Narcissism Personality Index it is revealed that American teenagers are highly narcissist. He also explores BIGR ( bask in reflection glory) in relevance to life of a personal assistant to celebrity Annie Brent well. In final section the author travels to Pittsburgh where he meets diehard fans of Rod Stewart and realizes the obsession for fame has taken over the country. It is unfortunate to understand the impression the celebrities can have on growing children. In adolescence their psyche is tender enough to be manipulated and obsession with celebrities can bring about adversities in youngsters. The media has a big hand in such a narcissist attitude among American teenagers as it consistently promotes celebrity- oriented shows. The society conveys to the children that being popular make life easy .Such social conditioning is dangerous and can hamper the life of teenagers. The parents and school authorities need to create awareness among children to be realistic about their future and have set goals. The author has been justifiable in his discussions and celebrity obsession is a fact among American

Gatorade Sport Drinks Essay Example for Free

Gatorade Sport Drinks Essay Gatorade is a brand of flavored non-carbonated sports drinks manufactured by PepsiCo and distributed in over 80 countries. [1] It was first developed in 1965 by researchers at the University of Florida, as a means of replenishing the fluid, carbohydrates and electrolytes that are divested from the body during physical exertion. Its name was derived from the school’s football team, the Gators. Originally produced and marketed by Stokley-Van Camp, the Gatorade sports drink brand was purchased by the Quaker Oats Company in 1983, which was acquired by PepsiCo in 2001. As of 2009, Gatorade is PepsiCo’s 4th-largest brand, on the basis of worldwide annual retail sales. It primarily competes with Powerade and Vitaminwater worldwide, as well as Lucozade Sport in the United Kingdom. Within the U. S. , Gatorade accounts for approximately 75 percent market share in the sports drink category. [2] PepsiCo Inc. (NYSE:PEP) is a global manufacturer, distributor, and marketer of food and beverages, owning many well-known brands including Pepsi, Frito-Lay, Tropicana, Gatorade, and Quaker Oats. [1] PepsiCo operates in over 200 countries, with its largest markets in North America and the United Kingdom. [2] In 2009, the companys revenues were $43. 23 billion with net income of $5. 95 billion. [3] Unlike its major competitor, the Coca-Cola Company (KO), the majority of PepsiCos revenues do not come from carbonated soft drinks. [4] In fact, beverages account for less than 50% of total revenue. [4] Additionally, over 60% of PepsiCos beverage sales come from its key noncarbonated brands like Gatorade and Tropicana. [5] PepsiCos diverse portfolio can mitigate the impact of poor conditions in any one of its markets. Strong demand growth in international markets the company serves 86% of the worlds population and international sales account for 48% of revenue is helping to offset a sluggish domestic market and provided the company with opportunities for continued expansion. [6] [7] PepsiCo is highly exposed to raw materials costs. Prices for the most important input materials, aluminum, PET plastic, corn, sugar, and juice concentrates fluctuate widely. For example, aluminum prices have fallen nearly 60% from their 2008 highs of $1. 50/pound to less than $0. 90/pound. [8]. PepsiCo has benefitted from lower input prices after the collapse of the commodities super spike of 2008. Contents 1 Company Overview 1. 1 Quarterly Earnings 1. 2 Bottlers 1. 3 Operating Segments 2 Trends Forces 2. 1 PepsiCo Must Survive a US Slowdown While Capturing International Growth 2. 2 Commodity Costs are Pressuring Margins 2. 2. 1 Pepsi Must Face a Declining Demand for Carbonated Soft Drinks 2. 2. 2 The Dollar Affects International Performance 3 Competition 3. 1 Beverages 3. 2 Snacks and Convenient Foods 3. 3 Coke vs. Pepsi 3. 3. 1 Global Footprint 3. 3. 2 Diversified Product Offering 4 References On April 20, 2009, PepsiCo made an offer to acquire its two largest bottlers, Pepsi Bottling Group (PBG) and Whitman (PAS), for $6 billion in a combined cash and stock deal. The deal was turned down, forcing PepsiCo to make a sweetened $7. 8 billion offer on August 4, 2009. PepsiCo hopes to streamline manufacturing and distribution through the acquisitions, allowing it to bring new products to market more quickly and efficiently. The company expects to gain full control of 80% of its North American market and increase pre-tax profit by $300 million, increasing eps by $. 15. [9] The deal adds $4 billion in debt to PepsiCos balance sheet. According to PepsiCo CEO Indra Nooyi, the acquisition is necessary to consolidate profit as there is not enough total profit in the North American beverage industry to support investments in several different companies. [10] The acquisition closed on March 1, 2010. [11] With the purchase of Pepsi Bottling Group (PBG) and Whitman (PAS) in 2010, company executives have said that it will lead to increased joint marketing that will bundle the companys snack and beverage offerings together. [12]. In December 2010, PepsiCo announced the purchase of 66% of Wimm-Bill-Dann Foods, a Russian food and beverage company, for $3. 8 billion. After completing this acquisition, the company is planning to buy the remaining 34%. [13] Wimm-Bill-Dan is the leading producer of dairy products in Russia and they also have a large market share for juice; the purchase significantly expands Pepsis presence in Eastern Europe and Central Asia. The addition of Wimm-Bill-Dann moves Pepsi closer to their goal of creating a global nutrition business worth $20 billion by 2020. [14] The acquisition comes three months after the Coca-Cola Companys purchase of Nidan Juices, a leading Russian juice manufacturer. [15] Company Overview PEP Revenues by Segment[16] PepsiCo is the largest snack and non-alcoholic drink producer in the United States, with 39% and 25% of the respective market shares. [16] Although the carbonated soft drink market in the US has gradually declined since the mid-2000s, PepsiCo has been able to grow revenues and net income through product diversification and international expansion. In 2008, the company posted revenues of $43. 3 billion, a 9. 6% increase from 2007; net income fell by 9% to $5. 1 billion. [17] The increase in revenues was primarily driven by higher sales volumes in the key European and Asian markets as well as company wide price increases. [18] The fall in net income was attributable to two reasons. First, PepsiCo recognized a $346 million mark-to-market loss on derivatives used to hedge its commodity exposure. [19] Next, the company incurred restructuring costs of $543 million in relation to its Productivity for Growth program. [20] PepsiCo expects to record another $30-60 million charge in 2009 to complete the program, which will close six plants in an effort to streamline PepsiCos global supply chain. [20] Quarterly Earnings Q1 2009 In the first quarter of 2009, PepsiCo posted revenues of $8. 263 billion, a 1% decrease from Q1 2008 figures; net income fell less than 1% to $1. 135 billion. [21] Although net pricing across PepsiCos product line increased by 7% during the quarter, the company was negatively impacted by a 7% foreign exchange loss due to the strengthening US dollar, as well as a 2% net decrease in sales volume. [22] Q2 2009 In the second quarter of 2009, PepsiCo posted revenues of $10. 592 billion, a 3% decrease from Q2 2008 figures; net income fell less than 1% to $1. 66 billion. [23] PepsiCos volumes remained roughly constant between the quarters, with snack gaining 1% and beverages losing 1%. The decrease in net revenues was due to a weakening of the companys US beverage operations, which decreased by 9%, in addition to the strengthening dollar, which adversely affected revenues by 8. 5%. Ignoring these changes, revenues would have grown by 5. 5%, driven by gains in the the Latin America Foods and Asia/Middle East/Africa divisions. Net income remained roughly constant as input costs fell in line with net revenues. Ignoring currency fluctuations, Earnings Per Share (EPS) would have grown by 8%. [23] Q3 2009 In the third quarter of 2009, PepsiCo had revenues of $11. 08 billion, a 1. 5% decrease from Q3 2008; net income increased 12% to $2. 23 billion. [24] The increasing value of the US Dollar negatively affected net income by 7% and the company had $9 million in costs associated with its merger with PBG and PAS, its two largest bottlers. [25] Worldwide, beverage volume increased 0. 5% while snack volume increased 2%. Frito-Lay North America, the largest division of PepsiCo, grew net revenue by 5% and increased volume by 3%. [26] Through the first three quarters of 2009, Frito-Lay was the fastest growing consumer goods company in North America. [27] The second largest division, PepsiCo Americas Beverages, saw net revenues decline by 9% and total volume decline of 6%. [28] Both Gatorade and Aquafina had double-digit volume declines; discussing Gatorade, executives attribute the decline to casual consumers budget worries and insist that the core consumer, athletes, are still buying the brand. [29] In Latin America and Europe, net revenue declined 10% and 2% respectively, driven primarily by foreign currency weakness compared to the US Dollar. [30] Q4 2009 In the fourth quarter of 2009, PepsiCo had revenues of $13. 3 billion, a 4. 7% increase from Q4 2008; net income increased 99% to $1. 43 billion. [31] Operating income for the quarter was $2 billion. [32] Pepsi American Foods net revenues increased 4%, with a 5% revenues decrease for Quaker Foods being offset by 2% revenue growth for Frito-Lay and 10% revenue growth for Latin American Foods. Pepsi American Beverages net revenues decreased 2% as a result of a 5% decrease in volume. Pepsi Internationals net revenues increased 5%, supported by 4% revenue growth in Europe and 7% growth in AMEA. Volumes for AMEA increased 13% in the quarter while volumes for Europe decreased 3%. [33] AMEAs strong quarter was based on a 13% increase in snack sales and 5% increase in beverage volumes, with 21% growth in beverage volume in India. [34] However, Chinas beverage volume decreased, which implies a market share loss to Coca-Cola Company (KO), whose China volumes grew 29% during the same period. [35] Q1 2010 In the first quarter of 2010, PepsiCo had revenues of $9. 4 billion, a 13. 4% increase from Q1 2009; net income increased 26% to $1. 4 billion. Operating income for the quarter decreased 47% to $840 million. [36] On February 26, PepsiCo completed the acquisition of its two largest bottlers for approximately $12. 6 billion; charges related to the merger in this quarter were approximately $282 million . [37] Worldwide snack volume for the quarter increased 1% while beverages volume dropped 0. 5%. Frito-Lays operating profit increased 10%, primarily as a result of increased sales of variety product packs and the decreased cost of cooking oil. [38] Quaker Foods revenue decreased 1% because of declines in ready-to-eat cereals and oatmeal, which were partially offset by substantial growth in the Roni brand; operating profit declined by 12% mainly as a result of insurance recoveries related to last years flood at Cedar Rapids. [39] In Latin America, favorable net pricing and a 1% increase in volume resulted in a 13% increase in revenues; however unfavorable currency exchange rates in Venezuela (19% decrease) accounted for a 12% decline in operating profit. [40] In Europe, favorable currency exchange rates offset 4% declines in snack and beverage volumes, for net revenues increase of 5% and operating income increase of 16%. [41] Double-digit growth in snacks and beverages volumes for India and China drove net revenues up 23% and operating income up 17% for the Asia, Middle East, and Africa segment. [42] The companys Americas Beverages segment saw volumes slip 4% (despite a 2% gain from a recent distribution agreement with Dr Pepper Snapple Group (DPS)) with a double-digit decline in Aquafina volume. However, net revenues increased 32% while operating income decreased 83% as a result of the completed merger with PepsiCos two largest bottlers. [43] The merger makes comparisons to previous quarters very challenging, however the Americas Beverages segment is in the process of de-emphasizing less-profitable products in favor of higher end offerings, such as Gatorade, which saw nearly 10% volume gains in the quarter. [44] Q2 2010 In the second quarter of 2010, PepsiCo had revenues of $14. 8 billion, up 40% from Q2 2009; net income decreased 3. 4% to $1. 6 billion. Operating income increased 12. 3% to $2. 46 billion. [45] The primary reason for the discrepancy in revenues and net income was the ongoing costs associated with the companys purchase of its primary bottlers. In Q2 2010 charges related to the restructuring decreased income by $155 million. [46] Worldwide volume increased 7% with an 11% increase in beverages and 1% increase in snacks. Frito-Lay pound volume fell 3% but net income increased 2%. The segment also benefited from lower commodity costs, in particular lower prices for cooking oil. Quaker Foods North Americas revenue fell by 4% with a 2% decline in volume that was primarily attributable to a decrease in cereal volume. [47] Latin America Foods net revenue increased 12% with a 2% increase in volume. However, operating profit fell by 5% after an unfavorable court settlement decreased profits by 5% and unfavorable currency exchange rates added another 5% to the decrease. The companys Americas Beverages increased revenues by 112% as a result of the merger with its major bottlers; volume for the quarter increased 13% with 8% coming from the acquisition of bottling operations in Mexico and 6% from PepsiCos contract with Dr. Pepper Snapple Group. [48] In Europe, net revenues increased 47% with snack volumes growing at 2% and beverage volume growing at 10%. Sales improved in most of Western Europe and Russia but declined slightly in Eastern European countries such as Romania and Ukraine (with the one exception of double-digit beverage growth in Turkey). [49] In Asia, Middle East, and Africa, where the company has recently invested significant funds in increasing manufacturing capabilities, net revenue grew 22%. Snack volume grew 16% and beverage volumes increased by 8%. India saw double-digit growth in both categories, while snack volume in the Middle East and China grew more than 10%. [50] Q3 2010 In the third quarter of 2010, PepsiCo had revenues of $15. 5 billion, up nearly 40% from Q3 2009; net income increased more than 11% to $1. 9 billion. Operating income increased by 25% to $2. 8 billion. [51] The companys volume and revenues increased worldwide for both food (+2. 5%) and beverages (+11%). Quaker Foods was the companys only division that failed to grow its operating income from 2009 with the largest gains posted by North American beverages, Europe, and Latin America Foods. [52] PepsiCo Americas Beverages operating profit grew nearly 80% for the quarter with the majority of this growth related to the companys purchase of its main bottlers in Q1 2010. However, volume grew by 13% during the quarter reflecting 8% growth in Mexico (operations in Mexico were included in the bottling merger), 6% volume growth due to the companys new contract with Dr Pepper Snapple Group (DPS), and a 4% decline in carbonated beverages in North America that was more than offset by a 5% increase in non-carbonated beverages. The success of the latter was due primarily to a double-digit increase in volume for Gatorade; water sales continued to fall during the quarter. [53] In Europe, volume growth related to the bottling merger accounted for a 7% increase, while double-digit growth in Russia, the UK, and Turkey pushed volume up 17% in total. Snack volume for the quarter grew by 3%, again supported by Russia, the UK, Turkey, and France. Both beverages and snack volume fell by more than 10% in Romania during the quarter. [54] Latin America Foods operating profit grew by 22% as a result of a double-digit volume increase in Brazil and nearly 10% increase in volume for the Sabritas brand in Mexico. [55] Operating profit for Quaker Foods decreased by more than 5% as a result of a 1% decline in volume, especially for Roni and Oatmeal brands. For Frito-Lay North America, pound volume declined 2% as a result of overlap with the companys 20% More Free promotion; sales of Sun Chips fell by more than 10% forced the company to abandon its compostable, albeit noisy, packaging. [56] In the Asia, Middle East, and Africa segment snack volume grew by 16% and beverage volume grew by 4%. Snack volumes grew significantly in the Middle East, China, India, and Australia while only China exhibited strong single-digit beverage growth. [57] Bottlers *Note Pepsis acquisition of Pepsi Bottling Group (PBG) and PepsiAmericas (PAS) was completed on March 1, 2010 PepsiCos beverage division manufactures concentrated syrup forms for all of Pepsis beverage brands. PEP sells these concentrates to bottlers for production, packaging, and distribution of the final products. PepsiCo grants bottlers the use of Pepsi trademarks and other brand rights within certain geographic regions. In August 2009, Pepsi made a $7 billion offer to acquire Pepsi Bottling Group (PBG) and PepsiAmericas (PAS). As the US carbonated beverage market shrinks from 60% of all nonalcoholic beverages in 1999 to 35% in 2009 PepsiCo hopes to consolidate the earnings of the three companies for shareholders. [9] Additionally, PepsiCo believes the acquisitions will streamline company-wide distribution through economies of scales. Three companies distribute 60% of PepsiCos North American beverage volume:[58] The Pepsi Bottling Group (PBG) is the largest of PepsiCos bottlers. PepsiCo has a 33% stake in Pepsi Bottling Group (PBG), and claims its share of income under the equity method of accounting. [59] PepsiAmericas (PAS) is the second-largest bottler in the Pepsi system. PepsiCo has a 43% stake in PepsiAmericas (PAS), and claims its share of income under the equity method of accounting. [60] Pepsi Bottling Ventures is the third-largest domestic bottling company within the Pepsi system. The company was formed in 1999 when five of Pepsi’s bottling companies consolidated to form PBV. Operating Segments PepsiCo operates in six divisions: Frito-Lay North America (29% of Revenue, 43% of Operating Income)[61] manufactures, markets and sells branded snacks. Popular products include Lays Potato Chips, Doritos Tortilla Chips, Cheetos, Rold Gold Pretzels, and SunChips. [1] Following the companys purchase of Pepsi Bottling Group (PBG) and Whitman (PAS), company executives have said that it will lead to increased joint marketing, bundling the companys snack and beverage offerings. [62] Quaker Foods North America (4% of Revenue, 8% of Operating Income)[61] manufactures, markets and sells cereals, rice, pasta and other branded products. Popular products include Quaker Oatmeal, Aunt Jemima mixes and syrups, Cap n Crunch cereal, Rice-A-Roni, and Life cereal. [1] Latin America Foods (14% of Revenue, 13% of Operating Income)[61] manufactures, markets and sells a number of leading salty and sweet snack brands. Popular products include Gamesa, Doritos, Cheetos, and Ruffles. [4] PepsiCo Americas Beverages (25% of Revenue, 29% of Operating Income)[61] manufactures, markets and sells beverage concentrates, fountain syrups and finished goods, under various beverage brands. Popular products include Pepsi, Mountain Dew, Gatorade, Tropicana, and Izze. [4] United Kingdom Europe (15% of Revenue, 10% of Operating Income)[61] manufactures, markets and sells a number of leading salty and sweet snack brands. Popular products include Lays, Walkers, Doritos, and Cheetos. [4] Middle East, Africa, and Asia (13% of Revenue, 8% of Operating Income)[61] manufactures, markets and sells a number of leading salty and sweet snack brands. Popular products include Lays, Smiths, Doritos, and Cheetos. [63] Trends Forces PepsiCo Must Survive a US Slowdown While Capturing International Growth Soaring food and energy prices[64], the housing slump[65] and a weakening job market[66] are putting the breaks on consumer spending in North America, even in the typically recession proof drinks and snacks market. Emerging markets such as China, India, Eastern Europe and Latin America present strong growth opportunities for Pepsico. In December 2010, Pepsi announced their purchase of Wimm-Bill-Dann Foods, a Russian food and beverage company, for $5. 4 billion[67]; the purchase followed Coca-Colas purchase of a Russian juice company for $300 million in summer 2010. [68] Wimm-Bill-Dan is the leading producer of dairy products in Russia and they also have a large market share for juice; the purchase significantly expands Pepsis presence in Eastern Europe and Central Asia. The company had sales of $2. 6 billion in 2010 and serves approximately 280 million customers in Eurasia. [69] In addition to making international acquisitions, PepsiCo is investing significant resources in expanding their manufacturing capabilities in developing markets. The company has pledged to invest $3. 5 billion in China through 2013, mainly through the construction of 10 to 12 new manufacturing facilities (in addition to the 27 it currently operates). In China, Pepsi is also pursuing a strategy of buying back stakes in its Chinese operations from local partners. These acquisitions will give the company greater control over its operations while increasing profits. Unlike the saturated North American market, Chinas carbonated drink market is growing at almost 20% annually. [70] In late August 2010, PepsiCo announced its plan to invest $250 million in new manufacturing plants in Vietnam further expanding its footprint in the region. In the past two years, the company invested in two other manufacturing plants in Vietnam, and it currently operates five plants in the country. [71] In Latin America, the company has pledged $3 million over the next three years to create an agriculture research center in Peru, which will focus on the discovery of new potato and other vegetable varieties. [72] Pepsis expects their global nutrition business will be worth $20 billion by 2020. [73] Commodity Costs are Pressuring Margins 2007-2009 PET resin prices, ? /pound [74] PepsiCos profitability can be affected directly and indirectly by the costs of various production inputs. PEP is responsible for purchasing the raw materials used to make its products in all its markets and also acts as an agent for the purchase of its bottlers raw materials. Some of the raw materials used by PEP include grains such as corn, wheat flour, oats and rice; fruit and vegetable products like oranges, potatoes, and juice concentrates; sugar; and vegetable and essential oils. For example, aluminum prices have fallen more than 60% from their 2008 highs of $1. 50/pound to less than $0. 65/pound. [8] Changes in the prices of such raw materials could impact total production costs and the company’s profit margins. Changes in bottlers production input costs can also indirectly impact PEPs profits. If a bottlers raw materials become more expensive, it might pass on the increase to customers, which could lead to a loss of market share as customers switch to more affordable alternatives. The primary raw materials used by bottlers are high fructose corn syrup, which is used as a sweetener, aluminum, used to make cans, and PET Resin, used for plastic bottles. In an effort to insulate itself from market forces, PepsiCo has invested $29. 3 million in five farms in China, making it one of the countrys largest agricultural companies. [75] The farms primarily produce potatoes for the companys potato chip brands and by 2005, the company was the largest private potato grower in the country. [76] In her 2008 visit to China, CEO Indra Nooyi said that the company is planning to invest $1 billion in China by 2012. [77] In addition to its farms in China, Pepsi has 12,000 contract farmers in India growing potatoes on 16,000 acres of land. In addition to potatoes, the company is hoping to expand its contract farming initiative to include oats in the near future. [78] Pepsi Must Face a Declining Demand for Carbonated Soft Drinks Consumer demand for CSD has been negatively affected by concerns about health and wellness. Since 1999, carbonated soft drinks have dropped from 60% to 35% of total US beverage volume. [9] Rising health and wellness concerns can be attributed to increasing concern for obesity as well as education campaigns on the part of the FDA as well as non-profit groups. Public campaigns to ban sales of soft drinks and fatty snacks in schools have also negatively impacted demand for sugary sodas. These factors have driven a shift in consumption away from CSD to healthier alternatives, such as tea, juices, and water. Even within the CSD segment, consumers have been moving away from the sugared drinks, opting instead for diet beverages, which do not generally contain any sugar or calories. In response to this shift in consumer demand, PEP has increased its development of both diet CSD and non-CSD beverages. With its popular Tropicana and Gatorade brands, PepsiCo is much better situated than Coca-Cola Company (KO) to react to these changing trends. Facing lower Gatorade sales in 2010, Pepsi developed a social marketing department to track the brands performance and online reputation. By tracking user discussions online and Gatorade groups on Facebook, the company has been able to quickly respond to consumer demands. The results of Pepsis new marketing initiative is inconclusive because the brand rose 2. 4% during the first half of 2010 but this is compared with low sales in 2009. [79] The Dollar Affects International Performance Changes in the strength of the dollar compared to foreign currency could impact the company by decreasing both costs and revenue in dollars. As the strength of the dollar increases, all sales made in foreign currency end up being worth less because the amount of US dollars the company gets per sale decreases. On the other hand the cost of foreign inputs (food and other commodities that go into PepsiCo products) sold in foreign currencies would decrease with the strengthening dollar. Since over half of PepsiCos sales are in international markets, the increasing value of the dollar could be a significant factor driving revenues down overseas. Specifically the company primarily deals with the British Pound, Euro, Australian dollar, and Canadian dollar. Between July and December 2008, the dollar regained nearly all its 2007 losses against foreign currencies, and has continued this trend through 2009. [23] Competition 2008 U. S. non-alcoholic beverage market by volume[80] Beverages In the domestic beverage market, the Coca-Cola Company (KO) is PepsiCos main competitor. In 2008, Coca-Cola had a 23% share of the U. S. non-alcoholic beverage volume, while PEP held a 25% share. Coca-Cola Company (KO) has a higher worldwide share of carbonated soda beverages, but PepsiCo has a more diverse product line and leads the industry in non-carbonated soft drink innovations. [81] PepsiCos revenues are also substantially higher than Coca-Colas, due to PepsiCos snack and convenient foods business, a market in which KO does not participate. PepsiCos presence in the snack and convenient food industries, as well as its industry-leading innovations in the non-carbonated soft drink segment, gives it a somewhat more balanced portfolio than Coca-Cola and provides the company with some protection against further declining demand for CSD. Pepsi also pays the Dr Pepper Snapple Group (DPS) for the rights to sell its products, along with Coca-Cola Company (KO). In December 2009, Pepsi agreed to pay Dr Pepper Snapple Group (DPS) $900 million for the continued rights to sell Dr. Pepper products following the companys acquisition of its North American bottlers. [82] This deal was similar to a contract signed by Coke and Dr. Pepper in June 2010, worth $$715 million, that gave Coke similar distribution rights following their acquisition of Coca-Cola Enterprises (CCE). [83] Snacks and Convenient Foods 2008 U. S. Snack Market by volume[80] PepsiCos Frito-Lay and Quaker brands compete in various parts of the larger food industry. Its snack foods manufactured by the Frito-Lay segment hold a commanding share of the U. S. market, accounting for around 39% of domestic snack food sales in 2006. PepsiCos main competitor in the food market overall is Kraft Foods (KFT). Krafts products include snacks, cheese, diary, and cereal products, which puts it in competition both with Frito-Lay and Quaker products. Much like the Coca-Cola Company (KO), Kraft does not participate in both the food and soft drink markets, giving PEP the advantage of having a more diverse offering of products. Coke vs. Pepsi For decades now, Coke and Pepsi have battled for our hearts and minds but what about our capital? Which company will add the best flavor to your investment portfolio? Although both companies share powerful brand names and global franchises, there are two important distinctions between Pepsico and Coca-Cola that any investor should consider before choosing between these comestible titans: Global Footprint When it comes to international presence, Coca-Cola easily trumps Pepsico. In 2009, Coca-Cola generated 74% of its revenue overseas compared to 48% revenue for Pepsico. [84][85] Coca-Colas impressive global footprint puts it in a better position to benefit from strong growth across the globe, particularly in the developing world. Furthermore, because Coke generates so much of its revenue abroad, it stands to benefit greatly from the continuing weakening of the dollar as sales denominated in foreign currencies are suddenly worth more dollars back home. At the same time, Pepsicos heavy dependence on North America makes it much more susceptible to a slowing US economy. Diversified Product Offering. Another important distinction between the two companies is their product offering. While KO is essentially a one-product company that focuses on beverages, Pepsico has a much broader product base that includes beverages, foods and snacks. Coca-Colas heavy dependence on beverages, particularly carbonated beverages, makes it more susceptible than Pepsico to a growing aversion to soda which is perceived as fattening and unhealthy. On the other hand, Pepsicos extensive portfolio of beverages, foods and snacks puts it in a better position from the trend to healthier eating.

Neuroimaging Research To The Understanding Of Psychopathology Psychology Essay

Neuroimaging Research To The Understanding Of Psychopathology Psychology Essay Over the last ten years, neuroimaging techniques has been employed to an ever increasing extent in the investigation of the biological substrates of psychopathology (Malhi and Lagopoulos 2008). Non-invasive brain imaging techniques such as PET and fMRI have been successfully applied in the localization of sensory functions (van Eijsden et al. 2009). For more complex psychological processes such as language, fMRI is now used to guide surgical decisions regarding hemispheric dominance in patients with refractory epilepsy (van Eijsden et al. 2009). Although still in its infancy (Crowe and Blair 2008), neuroimagings existing contribution has been hailed as significant (Linden 2008, Radaelli et al. 2008). Reliable biomarkers are not known for most, if not all psychiatric disorders (Linden 2008). Limited knowledge concerning the aetiological mechanisms underlying disorders thwart efforts at primary prevention and hamper secondary prevention due to the lack of reliable, comprehensive prognostic markers (Glahn et al. 2008). The lack of pathognomic neural markers, difficulties achieving clinical consensus regarding diagnostic definitions and symptom heterogeneity within the existing diagnostic entities have encouraged neuroimagings pursuit of biomarkers and endophenotypes (Malhi and Lagopoulos 2008); (Pan et al. 2009). The research agenda for DSM V underscores this theme working towards an aetiological and pathophysiological based diagnostic system rather than the current symptom and syndrome based approach (Pan et al. 2009). Neuroimagings contribution may be through refining, validating and augmenting existing diagnostic classifications or replacement of the existing phenomenologically d erived system with neuroanatomically defined biomarkers (Malhi and Lagopoulos 2008). Neuroimagings contribution may be constrained by limited knowledge regarding interregional connectivity and interactions within the brain (Honey et al. 2002). Furthermore, the pathways by which genetic and environmental risk factors interact and impinge upon behaviour ultimately manifesting as pathological symptoms is largely unknown (Glahn et al. 2008). Complexity is increased further by consideration of the points of discontinuity between psychopathology and normal variation (Glahn et al. 2008). To date, the majority of neuroimaging research has attempted to correlate functional, structural and chemical abnormalities of the brain with the presence and/or severity of symptoms (Radaelli et al. 2008). Critics argue that neuroimaging research encourages a segregationist approach to psychopathology, attempting to map complex functions onto discrete, localized brain areas (Honey et al. 2002). This tendency has been influenced by assumptions within cognitive psychology (van Eijsden et al. 2009), namely that mental functions are comprised of modules with identifiable, specific cognitive content processed by a computer like brain (van Eijsden et al. 2009). Thus, elements of psychological function are assumed to activate specific, reproducible brain regions, a model known as massive modularity(van Eijsden et al. 2009). Traditionally, neuroimaging techniques have been categorized according to their data acquisition methodology, focusing upon structure, function, connectivity, electrophysiology or underlying chemistry (Pine 2006). Recent advancements in multimodal imaging (MMI) enables an admixture of approaches attempting to integrate the strengths of different techniques (Malhi and Lagopoulos 2008). Rather than detecting actual neural transmission, fMRI relies on the paramagnetic properties of deoxyhaemoglobin, providing an indirect measurement of the coupling between neural activity and blood flow (Malhi and Lagopoulos 2008). Similarly, PET is an indirect measurement of neural activity measuring blood flow, metabolism or ligand-receptor interactions of particular neurotransmitters (Zimmer 2009). Compared with SPECT, PET offers increased spatial and temporal resolution and permits imaging of a greater range of brain activity than SPECT tracers (Malhi and Lagopoulos 2008). However, it does not offer equivalent spatial resolution to fMRI. DTI tractography images neural tract trajectories, enabling the modelling of white matter fibres localization, orientation, connectivity and integrity within the brain (Malhi and Lagopoulos 2008); (Honey et al. 2002); (Thai et al. 2009). Neuroimaging research can adopt either a whole brain or region of interest (ROI) approach (Malhi and Lagopoulos 2008) with important implications for interpretation. As ROI approaches examine fewer brain regions than whole brain univariate approaches such as VBM, they offer increased statistical power with a concomitant decrease in explanatory power (Ecker et al. 2010). In contrast, techniques such as VBM offer increased explanatory and moderate statistical power due to the necessity of multiple comparison corrections. Therefore, mass univariate approaches may be too conservative to detect subtle neuroanatomical abnormalities particularly with small samples (Ecker et al. 2010). Additionally, neuroimaging studies can be contrasted in terms of experimental design ranging from block, factorial to the most recently developed event-related designs. Event-related designs permit randomization of experimental conditions throughout scanning (Honey et al. 2002), allowing the response to a sing le event to be examined in a context-independent manner (Friston et al. 1998). This paper will evaluate the possible applications of neuroimaging research to the understanding of psychopathology in terms of its existing contribution and developments which may arise due to further technological innovations in the future. Initially, it will provide a brief introduction to a number of methodological considerations associated with neuroimaging research. Following this discussion, it will primarily focus upon neuroimagings contribution to aetiological research of psychopathology. In addition, it will evaluate the application of neuroimaging techniques to diagnosis, prognostic considerations and treatment. The paper will conclude with a review of recent technological developments within neuroimaging and evaluate the extent to which these innovations may further increase neuroimagings application to the understanding of psychopathology. Methodological and Technological considerations Critiques of neuroimaging research as The New Phrenology in its attempts to locate complex psychological phenomena in discrete brain regions have been described as the localization fallacy. The complexity of conducting research with patient groups and interpretation of associated results is emphasised when patient characteristics are considered (Honey et al. 2002). Psychiatric conditions are heterogenous in their presentation and difficult to define as discrete and homogenous entities. This increases the difficulty in obtaining a clinically homogenous sample for research purposes. Disorder and symptom heterogeneity manifesting as inconsistent neuroimaging findings may be a result of different aetiological pathways, variability in compensatory processes, chronicity of illness or the patients unique symptom profile (Honey et al. 2002). These inherent difficulties have been demonstrated by conflicting findings of hypofrontality in Schizophrenia (Keshavan et al. 2008) and led to the foll owing conclusion as long as we are not able to disentangle the heterogeneity question at the clinical level, it is not likely that heterogeneity at the aetiological and pathophysiological levels can be resolved (Peralta and Cuesta 2000). If a well matched sample is obtained, their symptomatic profile may be a manifestation of the final common pathway of disorder rather than representing a group matched for common aetiological mechanisms (Honey et al. 2002). To counteract these issues, many neuroimaging studies have adopted a symptom level approach, for example exclusively examining AVH (Honey et al. 2002). Critics have argued that symptom provocation studies may be imaging interference processes, compensation for diminished performance or other co-occuring symptoms (Honey et al. 2002). If the assumption that symptoms occur in isolation is correct, their location within discrete brain regions may over overly simplistic, it is more likely they are an element of complex, dynamic neural activity (Honey et al. 2002). The phenomenon of pure insertion asserts that a phenomenon of interest can be identified or manipulated in isolation from other mental processes (Honey et al. 2002). For example, linear increases in cognitive load (task demand) may not be associated with linear increases in neural activity. Furthermore, is it conceivable that ruminations in OCD can be isolated from other processes such as memory, attention and speech? (Honey et al. 2002). The subtraction technique is the most commonly employed method to identify brain areas that are active relative to one another; therefore, experimental task pairs should only differ in terms of one parameter. This is based on the assumption that by changing one parameter, that only one aspect of processing is altered (Nair 2005). Neuroimaging results may thus be misinterpreted as the cause of disorder or the disorder itself (Fuchs 2006). Thus, there are a number of important issues to consider when interpreting neuroimaging results such as whether differences reflect a symptom profile, a diagnostic entity and whether differences within these groups relate to state related phenomena or underlying aetiological differences at the genotype level (Honey et al. 2002). These ambiguities have led some researchers to question neuroimagings utility to aetiological research advocating a focus upon diagnostic imaging (Honey et al. 2002). Recent shifts towards a focus upon systems level, dynamic connectivity within the brain appears to be counteracting neuroimagings characterisation as the new phrenology (Zhou et al. 2009). The complexity of neuronal function has important implications for the analysis and interpretation of neuroimaging results. It is necessary to quantify both the relationship between neuronal activity and indirect measures of it via the haemodynamic responses and the associated temporal delay (Honey et al. 2002). It has been shown that BOLD signals are more responsive to increases rather than decreases in blood flow, known as the haemodynamic rectification effect (Keri and Gulyas 2003). These matters become increasingly complex when the contribution of neurotransmitter release and reuptake, receptor binding and electrical activity to rCBF, metabolic changes and behaviour are considered (Keri and Gulyas 2003). For example, low levels of neuronal activity may not be accompanied by rCBF changes, in a PET experiment, the lack of activation in this area does not exclude the area from being involved in the response under examination (Keri and Gulyas 2003). In contrast to sustained stimulati on, rapid changes in the brains functional state result in a brief uncoupling of perfusion from oxidative metabolism (Keri and Gulyas 2003). Imaging procedures must also model the effect of major blood vessels draining activated brain regions (Honey et al. 2002). Existing technology does not offer equivalent spatial resolution across the whole brain, there are also inherent difficulties differentiating between excitatory and inhibitory activation when using the proxy of the haemodynamic response (Honey et al. 2002). The complexity is further increased when the impact of experimental design is considered. fMRI images particularly those based on block designs frequently are static representations of haemodynamic activity averaged over time (Nair 2005). Furthermore, activity in some regions may only be detectable with more sophisticated event-related rather than block designs (Fusar-Poli et al. 2007). However, it has been shown that even in event-related fMRI paradigms that short inter stimulus intervals result in an overlap of haemodynamic responses to individual events (Ecker et al. 2008), thereby precluding confident analysis of condition specific activity. It has also been demonstrated that path co-efficients within SEM fMRI reflect changes in the temporal characteristics of the HFR induced by experimental design (Ecker et al. 2008) emphasising the effect of experimental design on effective connectivity studies. Recent developments In recent years there has been increased interest in furthering understanding of interactions between brain regions known as connectivity analysis (Sato et al. 2009b). Functional connectivity refers to the dynamic relationships between brain regions typically based upon correlational analyses (Thai et al. 2009). Effective connectivity studies infer causal or modulatory relationships between brain regions or networks and their directional, temporal interactions (Thai et al. 2009). SEM and DCM are the most commonly employed methods to investigate connectivity within fMRI data (Sato et al. 2009b). In SEM, the strength of an interaction is provided by a path co-efficient measuring the average influence of one ROI on another in a specified time period (Ecker et al. 2008). For example, using effective connectivity, it was demonstrated that the sACC and pACC had a strong directional influence on the right amygdale during an emotional processing task (Zhou et al. 2009). Rather than occurring as functionally distinct, feedforward sequential processing stages, it was shown that mental rotation performance includes both feedforward and feedback connections with indirect evidence of parallel processing (Ecker et al. 2008). Machine learning and pattern recognition methodologies, such as SVM are powerful techniques for the classification and prediction of mental states so called brain reading or decoding (Sato et al. 2009a); (Sato et al. 2009a). SVMs are used to identify statistical properties of imaging data which discriminate between groups of participants or brain states (Sato et al. 2009b), essentially, whether a new observation belongs to a training data set or otherwise. Not only do they offer the potential to categorize, their ability to anatomically localize discriminative information generated by the classification process presents the possibility of brain mapping (Sato et al. 2009a). Potentially, this methodology could be used to describe a healthy population, measuring the distance of subsequently tested participants from normative fMRI data (Sato et al. 2009b). For example, SVMs ability to distinguish between visual and auditory stimulation was 95.34% +/- 18.77 (Sato et al. 2009a). ANN and SV M based tools have employed in the identification and classification of pathology of patients with Alzheimers or Parkinsons disease from control participants (Bose et al. 2008). The development of imaging genetics offers the possibility of mapping the biological pathways and mechanisms whereby individual differences in brain function emerge and potentially predispose individuals to risk of psychological dysfunction (Viding et al. 2006). It enables the evaluation of the functional impact of brain relevant genetic polymorphisms with a view to understanding their impact on behaviour (Viding et al. 2006). For example, studies of healthy adult 5-HTTLPR S allele carriers found increased amygdala activation, reduced grey matter volume of the perigenual ACC and amygdale and altered functional connectivity of the pACC and amygdale relative to the LL genotype. Furthermore, 30% of variance in behavioural harm avoidance scores during this fMRI challenge paradigm was predicted by amygdala pACC functional connectivity (Viding et al. 2006). Aetiology Significant ambiguity remains surrounding the pathogenesis of schizophrenia (Keshavan et al. 2008). Although the majority of psychological disorders are thought to be multifactorial in origin (Glahn et al. 2008), genetic factors appear to exert a significant aetiological influence on the major psychoses, twin studies estimating heritability at 80% (van Os and Kapur 2009). Structural MRI studies have revealed reductions in whole brain and grey matter volume as well as increases in ventricular volume (Keshavan et al. 2008; van Os and Kapur 2009). Reductions have been observed in temporal lobe structures (in particular the hippocampus, amygdala and the superior temporal gyrus) and the prefrontal cortex, thalamus, AC and corpus callosum. There is evidence of a relationship between superior temporal gyrus volume and positive symptoms; medial temporal lobe reductions correlating with memory impairment. Qualitatively similar but less marked structural changes have been observed in the affec tive disorders. Whilst structural abnormalities may be consistently found in Schizophrenia, they are diagnostically non-specific and may be common amongst patients across diagnostic classifications. Evidence of progressive brain changes during the course of schizophrenia suggests that structural abnormalities may be a result of early and later developmental dysfunction (Karlsgodt et al. 2008). The onset of frank symptoms has been associated with progressive changes. Using longitudinal research designs, deviations from normative development can be examined (Serene et al. 2007). For example, longitudinal studies of early onset schizophrenia demonstrated progressive grey matter loss across the lateral surface of the brain, with treatment refractory patients displaying the most pronounced and rapid cortical grey matter loss. However, the explanatory power of progressive brain structural changes as the primary pathophysiological process within schizophrenia is diminished due to the prese nce of potentially confounding factors secondary to the illness such as symptom profile, severity, medication history and status and the duration of illness (Karlsgodt et al. 2008). Furthermore, structural changes are generally subtle and of relatively small effect sizes (Keshavan et al. 2008). Inconsistency has mired findings of hypofrontality in Schizophrenia, functional imaging meta-analysis have calculated moderate effect sizes for activated and resting state conditions. Conversely, once performance differences are controlled for, patients have shown increased prefrontal activation relative to controls perhaps indicative of an inefficient frontal response to task demands. There have been similarly inconsistent findings regarding other brain regions. Functional imaging research has found alterations in prefrontal and occasionally temporal lobe function (Shergill et al. 2007), with speculation regarding a specific abnormality in the reciprocal modulatory interaction of frontal areas and the hippocampus (van Os and Kapur 2009). Hyper- and hypoactive network responses have been demonstrated depending on experimental paradigm (van Os and Kapur 2009). Inconsistencies in the functional imaging literature may be a result of the diverse experimental designs employed, non-uniform standardization of resting state conditions, lack of control for performance differences, typically small sample sizes and medication confounds which curtail the interpretability of these results (Keshavan et al. 2008). MRS studies have corroborated regions implicated by structural and functional imaging results demonstrating reductions in neuronal and membrane integrity in at risk and early schizophrenic groups. However, it can be concluded that many of schizophrenias putative biomarkers are of less than robust effect sizes, non-specific and too time consuming or expensive to consider implementing as potential diagnostic biomarkers (Keshavan et al. 2008). It is proving difficult if not impossible to explain the features of this disorder and its associated functional deficits in terms of selective, focal abnormalities (Fusar-Poli et al. 2007). The disconnectivity hypothesis of the pathophysiological basis of vulnerability to psychosis implicates abnormal interaction/disconnectivity of the prefrontal cortex, temporal lobe and subcortical regions (Fusar-Poli et al. 2007). Findings of disturbed functional connectivity of the medial prefrontal, thalamic and cerebellar regions in relatives of patients with schizophrenia have provided support for this view (Fusar-Poli et al. 2007). Although evidence for disconnectivity in schizophrenia is strong, its relationship to aetiology, pathophysiology and implications for symptomatic behaviour remain unclear (Stephan et al. 2009). AVH have been found to activate a wide network of language areas in the frontal and temporal lobes and limbic areas such as the amygdale and hippocampus (Vercammen et al. 2009). The subjective intensity of AVH has been correlated with activation of the primary auditory cortex. Schizophrenic patients who experience AVH have been found to activate differential brain areas relative to healthy controls and non-hallucinating patients with schizophrenia, displaying altered activation of the anterior cingulate and superior temporal regions bilaterally (Mechelli et al. 2007; Shergill et al. 2007). DTI studies have demonstrated differences in the orientation of white matter fibres relative to patients without AVH and healthy controls. Examining the effective connectivity of AVH using DCM demonstrated a specific impairment of functional integration between the left superior temporal cortex and the dorsal part of the ACC during the evaluation of self and alien generated speech in patients with AVH (Mechelli et al. 2007). This implies a relationship between impaired functional integration and AVH experiences, Mechelli et al, speculate that a similar impairment in effective connectivity may diminish patients ability to process their own inner speech. Furthermore, a whole brain DTI study illustrated that propensity to experience AVH was associated with increased fractional anisotrophy (FA) within lateral aspects of the superior longitudinal fasciculi bilaterally, the main connection area between Wernickes and Brocas areas (Shergill et al. 2007). Similar differences in FA have been reported in at risk and first episode patients. However, it is possible that these connectivity changes may be a result of experiencing AVH rather than being causative in nature. Increased frequency of AVH may enhance connectivity in these regions. Studies conducted during the prodromal phase permit the prospective investigation of the pathophysiological processes underlying vulnerability and development of the disorder (Fusar-Poli et al. 2009; Pantelis et al. 2003).Neuroimaging studies have demonstrated qualitatively similar abnormalities to those evident in established schizophrenia and bipolar to those present in first episode psychosis and individuals without psychosis but with a strong familial risk (Pantelis et al. 2003). At risk individuals who subsequently developed psychosis had smaller grey matter volumes in the right medial temporal region, including the hippocampus and parahippocampal cortex, in a right lateral temporal region encompassing the superior temporal gyrus, a right inferior frontal region including the orbital portion of the inferior frontal gyrus and adjacent parts of the insula and basal ganglia and a cingulate region including the anterior and posterior cingulate gyrus bilaterally which mimics findings in probands of MZ twin pairs discordant for schizophrenia, first degree relatives of patients with psychosis and people with schizotypal personality disorder. Longitudinal examination of patients who transitioned to psychosis, showed a significant bilateral reduction in grey matter volume between baseline and follow up in the cingulate gyri, the left parahippocampal gyrus, left fusiform gyrus and left OFC (Pantelis et al. 2003). This study demonstrated that pathophysiological anomalies predate the onset of overt psychosis but that further grey matter volume changes are associated with the first expression of frank symptoms. It is unclear however, whether these changes represent a cause or effect of psychosis. Pantelis et al conclude that MRI may in the future prove a valuable tool in the identification of ultra high risk individuals. Neurochemical PET and SPECT studies investigating the dopamine hypothesis of schizophrenia with 18 F-dopa and 11 C-raclopride have shown that schizophrenia in its acute psychotic state is associated with an increase in dopamine synthesis, dopamine release and resting state dopamine concentration (van Os and Kapur 2009). Research has also demonstrated pre-synaptic dopamine overactivity in schizophrenic patients and first episode patients (Fusar-Poli et al. 2009) Studies of prodromal patients have demonstrated elevated Striatal 18 F-dopa uptake with levels approaching those of Schizophrenic patients (Howes et al. 2009). 18 F-dopa uptake in the ARMS was directly correlated with symptom severity and the degree of neuropsychological impairment. The most pronounced dopaminergic abnormality was found in the associative subdivision of the striatum in both schizophrenic patients and individuals with an at risk mental state (Howes et al. 2009). Thus, it has been suggested that pre-synaptic striatal dopamine function may be a worthwhile target for novel drug development and that these findings may provide a neurophysiological rationale for the introduction of anti-dopaminergic preventative intervention in high risk individuals (Howes et al. 2009). Multimodal studies of a verbal fluency task during the ARMS demonstrated an association between altered prefrontal activation and striatal hyperdopimergia (Fusar-Poli et al. 2009). Controlling for performance differences, there was increased activation of the left inferior frontal gyrus and the right middle frontal gyrus suggesting reduced efficiency or a compensatory process to achieve a similar behavioural response as controls. Improvement in prodromal symptoms has been associated with a normalization of the exaggerated inferior frontal response during a verbal fluency task. Previous findings linking the degree of elevation of striatal hyperdopimergia with symptom severity suggest that striatal hyperdopaminergia may underlie both symptoms and neurocognitive dysfunction although it is possible that another pathway is responsible. The observed correlation may represent the effect of prefrontal cortex on striatal dopamine or vice versa. Crucially, this study demonstrates that abnormal ities which were heretofore regarded as key pathophysiological features of Schizophrenia are correlates of vulnerability rather than sufficient for development of the disorder (Fusar-Poli et al. 2009). Interpretation of ARMS findings is difficult due to uncertainty regarding the degree to which they reflect trait or state factors, that is, psychosis liability or prodromal symptoms (Fusar-Poli et al. 2007). Thus, neuroimaging findings indicate changes in gray matter structure indicative of connectivity deficits at the level of synaptic connections and neuropil allied with white matter changes indicative of large scale deficits in connections between cortical regions (Karlsgodt et al. 2008). Although several biological abnormalities have been replicated (abnormally large ventricles, abnormal dopamine concentration and altered P300) they are not sensitive enough (usually only seen in 40-50% of patients) or not specific enough (seen in only 30% of first degree relatives) to be of diagnostic influence (van Os and Kapur 2009). Anxiety Disorders Neuroimaging research of anxiety disorders have implicated brain areas involved in the stress response as being associated with anxiety symptoms, including the prefrontal cortex, hippocampus and amygdala (Engel et al. 2009). However, potential brain structures implicated in the pathophysiology of anxiety disorders are extremely difficult to image due to their sizes and locations these include the amydala, brainstem nuclei and periaquaductal gray (Engel et al. 2009). Neuroimaging of PTSD highlights many of the complexities involved in conducting this research. Complexities relate to symptom presentation in terms of their variable content and emotional arousal in particular during the retrieval of traumatic memories (Peres et al. 2008). Symptomatic heterogeneity is extremely difficult to control for, additional potential confounds include nature of the traumatic experience (s) and the length of time since its occurrence. It is questionable whether it is appropriate to generalize from i maging results based on a sample of war veterans to survivors of childhood abuse (Peres et al. 2008). However, the results of neuroimaging studies appear to offer support for two broad subtypes of PTSD, one being primarily dissociative, the other characterised by intrusions and hyperarousal (Malhi and Lagopoulos 2008). Structural studies have demonstrated reduced ACC and hippocampal volumes in studies across a variety of traumatic experiences. Increased amydala activation has also been observed (Crowe and Blair 2008). Impaired hippocampal function has been speculatively linked to the memory fragmentation process observed in PTSD (Peres et al. 2008). However consistent findings of structural or functional change, they do not necessarily imply a causative relationship. Depression Research investigating the pathophysiology of depression have highlighted decreased anterior paralimbic and cortical activity in both major and bipolar depression (Malhi and Lagopoulos 2008). These decreased activation patterns are found to reverse with successful treatment. For example, in studies of major depression it has been observed that diminished activation of the dorsalateral prefrontal cortex can be increased following effective treatment. PET studies of the serotonin transporter SERT have demonstrated increased thalamic SERT in depressed patients relative to controls. Across the affective disorders, findings of hyperamydala and hypofrontality have led to speculation that these abnormalities may represent a critical pathway or potential predictive biomarker for those at risk of future development of psychopathology (Viding et al. 2006). However, it remains unclear as to whether these findings represent state or trait related function. The search for trait related biomarkers offers the potential to uncover early warning signs of impending psychological disorder as they may be present prior to symptom onset (Malhi and Lagopoulos 2008). The clarification of state related changes affords the possibility of monitoring differential responses to treatment over time (Malhi and Lagopoulos 2008). Cautious interpretation of existing neuroimaging findings is advised due to the complexity of emotional networks and lack of understanding regarding their integration with higher cognitive processes (Malhi and Lagopoulos 2008). Diagnosis As of yet there are a limited number of neuroimaging studies attempting to classify or categorize disorder (Glahn et al. 2008). Ongoing research endeavours to uncover pathophysiological biomarkers complements the development of diagnostic imaging systems. The discovery of biomarkers of schizophrenia may assist in early diagnosis and haveprognostic value (Bose et al. 2008). Initial diagnostic research efforts focused on measurement of striatal D2 receptor levels. Although it appears that striatal D2 receptor levels are elevated in schizophrenia, inconsistent and variable PET and SPECT results (possibly related to samples tested) have precluded its use as a diagnostic variable (Bose et al. 2008). Machine learning and pattern recognition techniques provide methods for analysing imaging data that may improve the sensitivity and specificity of diagnosis (Bose et al. 2008). Using ANN modelling of striatal [18F] fluro-L-DOPA influx constants, it was found that an ANN model correctly classified 84% of schizophrenic patients and 74% of controls (Bose et al. 2008). Sensitivity analysis revealed that the posterior putamen and anterior caudate nucleus were the most important areas within the ANN classification. The addition of multiple risk facto rs to the ANN classifier such as neuropsychological, genetic or structural imaging results may improve the ANN classifiers accuracy further (Bose et al. 2008). Bose et al, 2008 suggest the potential util

Les Miserables :: Les Miserables

Les Miserables Throughout peoples lives they will be influenced due to other people and events. There are many ways people can be influenced. In the book Les Miserables by Victor Hugo, three different people influence Jean Valjean. The first influence on Jean was by the bishop. Another influence on Jean was Cosette. A third influence on Jean was Javert. Each of these are people who play a large role in Jean's life. The bishop was one of Jeans first and most important influences involving kindness and forgiveness. The first way that the bishop shows kindness to Jean is by inviting him into his home for dinner and a place to sleep, even though he is an ex-convict and no one else would help him. "Monsieur, sit down and warm yourself: we are going to take supper presently, and you bed will be made ready whil you sup." (Page 26) The next and most powerful act of kindness and forgiveness that the bishop shows to Jean is, when he tells the police that the silver which Jean had actually stole was a gift, and that he had forgotten to take his gift of candlesticks. When the bishop says, "Ah there you are! I am glad to see you, but I gave you the candlesticks too, which are also silver and will bring you two hundred francs"(Page 38). When the bishop say's this, Jean Valjean is filled with surprise and disbelief, and did not know what to do. From that day on Jean would remember the bis hop and his kindness towards him, and use this memory to help others. Javert has many different types of influences on Jean. One way that Javert influences Jean is by sending him to the galleys for the first time even though he was just stealing to feed his family. Jean was turned cold and cruel by this, he thought that the whole world was as cruel as Javert seemed to be. This cruelty only leads Jean into more trouble. "See, there is where he got out; he jumped down Cochefilet lane. The abominable fellow! He has stolen our silver!" (Page 37) This shows that even after Jean was released from the galleys he was hardened from the influences and still was a thief. The second way that Javert influences Jean is by testing Jeans new side of kindness and gratitude by sending him to the galleys a second time, for saving a wrongfully accused man.

Nontraditional Traditions :: essays research papers

Nontraditional Tradtions We live in an age in which it is hard to spend time together as a family. Many families today wonder if having quality time together is a thing of the past. We are inordinately busy, for one thing, whether household bread-winners or college students. Also, the definition of family has changed. We are dealing with new definitions and characterizations of the idea of family. Some of us have traditional families. Some families have divorced, single, and/or remarried parents, creating a rather confusing family tree. Some people choose to live their lives alone, but may still be close enough to some friends to consider them family. Whatever the circumstances, many of us honestly don't know how to celebrate together. We may even see the word "tradition" as something stultifying and old, having no meaning for or application to us personally; something usually being forced upon us by someone who smells funny and is only seen on holidays. What all of this means is that we can no longer simply follow the examples of old. It is up to us to create new family traditions. Celebrating is not hard. We all know about celebrating and have some ways of doing it. The only challenge is to find new ways. Why do we need to celebrate tradition? It gives us something to look forward to and makes a formal statement that there are some things in life to be grateful for. The notion of honoring tradition is unsettling for some people; let alone creating new ones. We understand that we need something to add a sense of order and stability to our lives. But we are not sure about how to create our own traditions. We seem to think that traditions must be heavy and complex ideas that had been around for hundreds of years and will be around for a hundred more. In my opinion, this is not true. It need not be big or religious at all. I believe a tradition is something that you do once that feels good, so you do it again and again. The tale in Frost's "Mending Wall" can be viewed as an impromptu tradition. The two neighbors needing to repair the wall after the winter chill, find time to converse with each other about what's on their minds. For example, every Sunday my dad makes tea and puts out two cups, his and mine. I am used to this. If I had to reach in the cupboard to get my own cup, something would be wrong. As it is, I get up out of my bed, I go into

The price elasticity of demand ad supply

IntroductionThe rule of snap aid to understand how the market works. Elasticity varies among merchandises because some productsA may be more indispensable to the consumer. Merchandises that are necessities are more insensitive to monetary value alterations because consumers would go on purchasing these merchandises despite monetary value additions Conversely, a monetary value addition of a good or service that is considered less of a necessity will discourage more consumers because the chance cost of purchasing the merchandise will go excessively high. Sometimes a concern demands to hold a good thought of what portion of a demand curve looks like if it is to do good determinations. Suppose you are the proprietor of Rick ‘s Pizza.You are sing raising the monetary values by 10 per centum, and you wonder how the consumers will respond and what will go on to the grosss? The reply depends on how consumers will react. Will they cut back purchases a small or a batch? ( Robert Schenk, 2007 ) . In my sentiment I think it ‘s really of import to find the monetary value snap of demand. It help us to understand the market more clearly and besides do more exactly and efficient pricing determinations in given clip of period.PRICE ELASTICITY OF DEMANDPrice snap of demand measures the consequence of monetary value alterations onA measure demanded. Peoples will purchase more goods at a lower monetary values and purchase less goods at a higher monetary values. For illustration, people might purchase several braces or several bundles of socks on sale alternatively of merely a brace. A individual with a higher income is thought to hold higher monetary value snap, since he can afford to pass more. However, even a consumer with low monetary value snap is normally willing to pay higher monetary values if there is a high demand of goods. . ( Tricia Ellis-Christensen and O. Wallace, 2010 ) . Demand remains changeless in malice of high monetary values in the status of no replacement. It ‘s besides true for gasolene and H2O which have a few or no replacements. demand was therefore considered inelastic. Normally, competition in the market place keeps monetary values lower and more flexible. Generic equivalents of certain points have lowered the demand for trade name name points, therefore take downing their monetary value. . ( Tricia Ellis-Christensen and O. Wallace, 2010 ) .Elasticity of demand can be quantified and be illustrated in a expression:Elasticity of demand The more sensitive clients are to monetary value, the larger in the monetary value snap of demand. In other words, a larger monetary value snap of demand indicates a merchandise whose demand is more elastic. In the short term demand is normally more inelastic because it takes clip to happen options. The monetary value snap of demand will be used to cipher merchandising monetary value that maximizes the net incomes of the company. + Demand is elastic if a alteration in monetary value leads to a bigger % alteration in demand, the monetary value snap of demand will hence be greater than 1. The undermentioned features of goods which are elastic tend to hold They are luxury goods They are expensive and a large per centum of income.For illustration, athleticss autos and vacations Goods with many replacements and a really competitory market. For illustration if Simsbury ‘s put up the monetary value of its staff of life there are many options, so people would be really sensitive to the monetary value They are bought often + Demand is inelastic if a alteration in monetary value leads to a smaller % alteration in demand ; the monetary value snap of demand will hence be less than 1. Goods which are inelastic tend to hold some or all of the undermentioned characteristics: They have few or no close replacements, for illustration: gasoline, coffin nails. They are necessities They are habit-forming They cost a little per centum of income or are bought infrequently Demand is unitary elastic if a alteration in monetary value have no consequence to a alteration in demand ; the monetary value snap of demand will be 1. ( Tricia Ellis-Christensen and O. Wallace, 2010 ) . There are many factor act uponing the monetary value snap of demand: 1. Number of close replacements within the market: The more ( and nearer ) possible replacements available in the market the more elastic demand will be in response to a alteration in monetary value. In this instance, the permutation consequence will be rather strong. 2. Degree of luxuries or necessities: luxury goods and services tend to hold greater snap whereas necessities tend to be more inelastic. 3. Percentage of income spent on a good: merchandises necessitating a larger part of the consumer ‘s income tend to hold greater snap. 4. Habit organizing goods – Goods such as coffin nails and drugs tend to be inelastic in demand. They have habitually consumed and have a small consequence on the monetary value alterations. 5. Time period under consideration – Demand tends to be more elastic in the long tally because consumers have more clip to set their behaviour to the monetary value alterations ( 2007 ) .PRICE ELASTICITY OF SUPPLYPrice snap of supply measures the consequence of monetary value alterations onA measure supplied. Peoples will offer more goods at a higher monetary values and offer more goods at a lower monetary values. The expression for the monetary value snap of supply is: Elasticity of supply = Percentage alteration in measure supplied / Percentage alteration in monetary value ( Mike Moffatt, 2009 ) . Factors that Affect Price Elasticity of Supply: + Spare production capacity If there is plentifulness of trim capacity so a concern should be able to increase its end product without a rise in costs and hence supply will be elastic in response to a alteration in demand. The supply of goods and services is frequently most elastic in a recession, when there is plentifulness of trim labor and capital resources available to step up end product as the economic system recovers. + Stocks of finished merchandises and constituents If stocks of natural stuffs and finished merchandises are at a high degree so a house is able to react to a alteration in demand rapidly by providing these stocks onto the market – supply will be elastic and frailty versa. + The easiness and cost of factor permutation If both capital and labour resources are occupationally nomadic so the snap of supply for a merchandise is higher than if capital and labor can non easy and rapidly be switched + Time period involved in the production procedure Supply is more monetary value elastic the longer the clip period that a house is allowed to set its production degrees ( 2007 ) .MARKETS AND ADJUSTMENT OVER TIMEPrice outlooks and guess:Look at two graphs above, we can see that monetary values ever change, they do non remain at the same. They can travel up or come down. Due to monetary values be given to alter in the hereafter, it will impact on the demand and supply now. For illustration, it is now, iPhone 3GS have merely look, you are believing of purchasing a new iPhone 3GS, you might to make up one's mind to wait until the monetary value of iPhone 3GS autumn somewhat when iPhone 4G is sold on the market. On the other manus, if the monetary value of iPhone 3GS come down in the short tally, you might good purchase it now because they fear that the monetary value will hold gone up by so. When people believe that the monetary value will travel up, it causes them to purchase now, in contrast, when people believe that the monetary valu e will come down, it causes them to wait. For marketer, if they are believing of selling their stocks, while monetary values are falling, they will desire to sell it every bit shortly as possible. On the other manus, if monetary values are lifting bit by bit, they will desire to maintain it every bit long as possible in order to acquire the best monetary value. Thus a belief that the monetary value will travel up or come down will do people to sell or wait. Guess is the behaviour of looking into monetary value in the hereafter and impacting purchasing and merchandising determinations based on their expectancies. Guess is applied in many markets such as the stock exchange, the foreign exchange market, the gold market and the lodging market, ECT. Harmonizing to John Sloman, guess can either support to cut down monetary value fluctuations or do them acquire worse: it can be stabilising or destabilizing.Stabilizing guess:When providers and demanders believe that a alteration in monetary value occurs merely in short tally, guess wil tend to hold a stabilising consequence on monetary value fluctuations. For case, an addition in demand is the ground why monetary value rise. In the graph above, demand has shifted from D1 to D2. Equilibrium has moved from point a to B, monetary value has increased from P1 to P2. Peoples believe that monetary value will lift merely in impermanent, before monetary value autumn once more, providers bring their goods to market now. Therefore displacements from S1 to S2. In contrast, demanders will wait until monetary value does fall once more. Demand displacements from D2 to D3. The equilibrium moves to indicate degree Celsius, and monetary value falling to P3. ( Sloman 2007, p69 )Destabilizing guess:When providers and demanders believe that a alteration in monetary value outlooks similar alterations to come, guess will be given to hold a destabilizing consequence on monetary value fluctuations. For illustration, an addition in demand is the ground why the monetary value does lift. In the graph, demand curve has moved from D1 to D2, monetary value has risen from P1 to P2. In this clip, monetary value have tend to lift, providers want to wait until the monetary value rise further. Therefore, supply moves from S1 to S2. In contrast with providers, demanders buy now before a rise in monetary value is higher. Demand move from D2 to D3 and monetary value rise to P3. ( Sloman 2007, p69 )Market WHERE PRICES ARE CONTROLLEDEquilibrium means a province carnival or a province of balance between market demand and supply. Without a alteration in demand and / or would supply no alteration in market value. In the diagram above, demand and supply at monetary value P1 is equal. At any monetary value above P1, supply exceeds demand and at a monetary value below P1, demand exceeded supply. In other words, the monetary value where supply and demand are out of balance points is called disequilib rium. ( Jacks, John,2007, p57 ) Changes in the conditions of demand or supply alterations on demand or supply curves. This will do alterations in the equilibrium monetary value and measure in the market Price floor is a legal lower limit on the monetary value at which a good can be sold. Price ceiling is a legal upper limit on the monetary value at which a good can be sold.Minimal Price ( Price floor ) :An uneffective monetary value floor, below equilibrium monetary value. A monetary value floor can be set above the free-market equilibrium monetary value. In the graph above, monetary value floor set below the free-market monetary value. In this instance, the floor has no practical consequence. The authorities has mandated a minimal monetary value, but the market already bears a higher monetary value. An effectual monetary value floor, doing a excess ( supply exceeds demand ) . Conversely, in the graph Monday, dashed green line represents a monetary value floor placed on the free market monetary value. In this instance, the floor monetary value is a mensurable impact on the market. It certain monetary values stay high for the merchandise can go on to be made. ( Jackson, John, 2007, p84 )Consequence on the marketA monetary value floor set above the equilibrium monetary value the market has some side effects. Consumers now find they must pay higher monetary values for the same merchandise. The consequence, they cut down their purchases or bead out of the market wholly. Meanwhile, sellers are certain to happen a new higher monetary value before they were charged. As a consequence, they increase production. Taken together, these effects mean there is now an extra supply ( known as a excess ) of the merchandise in the market. To keep the monetary value floor over the long term, the authorities may necessitate to take action to take it.Minimal payA historical and current illustration of the floor monetary value is the minimal pay jurisprudence, the jurisprudence specifies the lowest rewards a company can pay an employee ( employees are providers of labour and company as a consumer ) . When the lower limit pay is set higher than the equilibrium market monetary value for unskilled labour, unemployment is created because many people are looking for occupations than there are occupations available. A minimal pay above the equilibrium pay will do employers hired fewer workers every bit good as doing more people to come in the labour market, ensuing in a excess in the sum of labour available. Workers a pay equilibrium will depend on the employee ‘s accomplishments with market conditions. ( Robert 2006, p262 ) For illustration: This is common in agribusiness. Often the authorities wants to keep high monetary values of agricultural trade goods to maintain a big figure of husbandmans working. To restrict redundancy, nevertheless, authoritiess frequently must pay some husbandmans non to works harvests, which may be known as a subsidy cheque.Maximal Price ( Price ceiling ) :A monetary value ceiling set below the market monetary value of freedom is more effectual. Suppliers find they can non be responsible for what they were. As a consequence, some providers drop out of the market. This decreased supply. Meanwhile, consumers find they can now purchase merchandises for less, so demand additions. Two causes of action exceed the supply demand, which causes a deficiency of distribution-unless the consumer or other controls are enforced. It can besides take to other signifiers of non monetary value competition to provide can run into demand. ( Jackson, John, 2007, p83 ) Reduced Quality To provide demand in lawful rates, the most obvious attack is lower cost. However, in most instances, lower costs mean lower quality. During World War II, for illustration, the nutrient operation by cut downing the size of the ceiling and used cheaper stuffs ( e.g. , fat, flour, etc. ) . It can besides be seen in the care of decrease of rent-controlled flat Some bookmans, nevertheless, suspect that one set monetary value ceilings drive quality down in instance of a monopoly. They argue that with few viing companies lower the ceiling, a company ‘s low-end market must happen ways to accomplish better quality without increasing cost.Black MarketGoods purchased illicitly take one of two rates: They may be cheaper than the legal market. Suppliers do non hold to pay for production costs or revenue enhancements. This is normally the instance in the belowground economic system. Criminals to steal goods and sell them under the legal market monetary value, but no grosss, warrants, and so on. They may be more expensive than legal market monetary values. This merchandise is hard to obtain or bring forth, unsafe to manage or non easy available lawfully, if at all. If goods are illegal, such as certain drugs, their monetary values can be immensely higher production costs. Black markets can organize portion of the commercial boundary line near the boundary line of neighbouring legal powers surround control with small or negligible if there are different revenue enhancement rates, or in instances where goods are steps on one side of the boundary line but non on others. Merchandises like these are frequently smuggled, including intoxicant and baccy. However, all boundary line trade is non illegal. ( Jackson, John, 2007, p84 )CAUSE THE REAL ESTATE MARKET OF VIET NAMAs we know, each state ‘s population is increasing. In Viet Nam, the one-year population addition of about 1,1 million people. While land resources are limited. Therefore, the demand of existent estate market is increasing and people need to happen a comfy adjustment, modern substructure and peaceable life environment. This is chief ground to consequence of existent estate Market in Viet Nam. Typical is the cardinal issue of existent estate market in Ho Chi Minh metropolis and we are trav eling to happen out the grounds. Price Expectation and Destabilizing guess The grounds stated on the description of the existent estate should be investors expect the monetary value is ever increasing in the hereafter so they want to wait the best monetary value and best net income. This is the ground to do of the febrility in existent estate from 2007 to 2009.What cause â€Å" Fever †There are three basic cause taking febrility in existent estate market. First, Viet Nam ‘s population increased about 1,1 million people and income of about people to high accelerated and to do demand of house to increase. Second, at the stock market. Stock monetary value Index after day of the month of 6 August 2007 was 883,9 point and to lift well over 1,100 point on 3 October 2007 so investors has boosted gross revenues and many investing financess have been net income for over a month. Then they were intended to travel capital investing into existent estate market. Last of all, lodging policies for abroad Vietnamese and aliens were committed more unfastened and about of Bankss create were chance of borrows in existent estate for investing. ( vnEconomy 2007 ) As a consequence, there were strong guesss for investing or provider in existent estate since 2007. â€Å" The fact that, land and house in urban countries like The Manor and Phu My Hung are lifting â€Å" febrility † and â€Å" combustion in † . Owner or investors, who still need a great bought. The individual who populating The Manor said, types of flats from 106-206 M2, invitees were wanted. This type of apartment sale monetary value had increased by 50 % -60 % up from 1000 USD/m2 to 1,650 USD/m2 † ( VnEconomy 2007 ) With the fact merely mentioned, the existent estate is ever unstable and tends to travel up strong demand and provide support to each other. Covering with uncertainly and hazard Because about of Banks have easy loans in existent estate from 2007 to 2008. Therefore, it made the State Bank of Viet Nam has issued directives 10259/ NHNN- CSTT to limited rising prices on the existent estate market and recognition loaners and get downing execution since 2008 ( sbv.gov. neodymium ) Furthermore, entire capital investing Bankss in existent estate in 2009, was about 166,500 billion VND to about 9, 10 billion USD ( 18,279 VND exchange rate/ USD ) Ho Chi Minh metropolis has approximately 51 % the belongings outstanding and Ha Noi capital has approximately 15 % .That is the grounds the authorities made the determination to cover with uncertainness and hazard when the existent estate is in the febrility period ( Doanh nhan 360, 2009 ) In we view of existent estate market is immense net income and market chance for participle investors. So it has created a moving ridge of guess and monetary value outlook of speculator. Besides that, the factors of population growing. There are easiness for Bankss ‘ loan in existent estate market and lodging policy for abroad Vietnamese and aliens have formed a new market supply and demand monetary value in the belongings market in Viet Nam today.DecisionElasticity refers to the reaction or response of the consumers to alter in monetary values of goods and services. Elasticity of demand besides may depend on the comparative alteration in measure and monetary value. Buyers may be given to cut down their purchases as monetary value additions, and tend to increase their purchases when monetary value lessenings. The alteration in monetary value is non the lone factor that may alter the reaction of consumers. The nature of the merchandise ( similarity to what he uses ) and the pecu liar demands of the consumer ( whether of import or non ) may besides impact the alteration in the reaction or response of consumer. Demand may be elastic or inelastic. Demand is likely to be elastic when: privation is non pressing, close replacements are available, goods is lasting or repairable, goods has multiple utilizations. On the other manus, demand is likely to be inelastic when: privation is pressing, good replacements are unavailable, wanted jointly with some complementary point. ( Anna C. Bocar, 2008 ) The monetary value snap of supply reflects the jurisprudence of supply relation between monetary value and measure. An elastic supply means that the measure supplied is comparatively antiphonal to alterations in monetary value. An inelastic supply means that the measure supplied is non really antiphonal to alterations in monetary value. Harmonizing to the jurisprudence of supply, higher supply monetary values are related to larger measures supplied. As such, the numerator and denominator of this expression ever have the same marks — if one is positive, the other is besides positive. If the supply monetary value additions and the per centum alteration in monetary value is positive, so the measure supplied additions and the per centum alteration in measure supplied is besides positive. When calculated, the monetary value snap of supply, hence, is ever positive. There are four chief factors that influence the Foot: Spare production capacity, Stocks of finished merchandises and constituents, The easiness and cost of factor permutation, Time period involved in the production procedure. ( Pepijn van Eck, 2009 )