Weed Concerning to College Athletes - Free Essay Example

The question of college athletes using marijuana in college has stirred up a great controversy in todays society. The topic is controversial because in some states the drug is legal, but it is still illegal at the federal level. It also is said to give athletes some benefits and non-benefits that can affect the athlete. The main reason why college athletes arent allowed to use marijuana is because even though weed is legal at the state level, it is not legal at a federal level. This means if the federal government wants to hold charges against a college for allowing their athletes to use marijuana, there can be serious consequences and ramification for that college. This scare and discourages a lot of colleges, athletic programs, from promoting use of the drug, because most colleges receive a substantial amount government funding, which would be in jeopardy, if they allowed marijuana use. There can be various consequences for marijuana use, such as a college athlete losing their scholarship or the chance to play college sports period. Using marijuana, as an athlete, is something you dont want to play with if youre dream is to (one day) make it into the big league. Some people say marijuana should be allowed for college athletes because of the benefits. Some of the many benefit that marijuana can give an athlete is muscle relaxation, which can help athletes recover from workouts quicker allowing them to work out more often. Marijuana also can help an athlete gain weight if needed. Marijuana also can be used as a pain reliever/softener if an athlete was injured. Its also said to protect the brain from concussions and trauma. Meaning it can help football players sustain hits to the head more often. The drug also can help the student athletes cope with depression and anxieties to help them become focused in their studies and sports. Marijuana also can stop muscle spasms and cramps that occur during competition and working out. It is said that marijuana can also stop headaches caused from strenuous workouts. The drug can also help with responses allowing you to do things quicker and more efficient. It also allows an athlete to get better sleep whic h can improve energy and recovery of the body. Marijuana is said to improve vision and concentration allowing athletes to focused in on the game. It also allows athletes to forget previous traumatic experiences related to the activity such as hits, falls and injuries. Marijuana is also said to make people happier in which athletes will begin to have fun with the sport instead of being stressed about it. It is a fact that marijuana doesnt have to be just smoked to gain some of the same benefits. Marijuana come in many different forms liquid and edibles that will give you the same effects without the pressure of causing harm to the lungs. Meaning that you dont get the disadvantages of the smoke such as the smell and the long-term effect on the lungs. These advantage alone can give an athlete an upper hand over others when it comes to competing and getting better at their sport. Many argue that Marijuana should not be allowed for college athletes because of the non-benefits. Many people believe that the drug doesnt give an athlete the upper-hand but it takes away from the athlete ability by taking away their time and education readiness to be eligible to play, which give them a disadvantage at the start. They say things like the drug is addictive and can cause athletes to spend most of their time getting high. Its also said the that the drug can kill brain cells and make an athlete not as smart making them unable to pass classes to be eligible to play. The National Institute on Drug Abuse states that 9 percent of all user of marijuana will become dependent, whereas 17 percent of people who start using during their teens are more likely to be dependent on it. One study conducted by the journal Drug and Alcohol Dependence in 2011, said that 42 percent of users who tried to quit experienced withdrawal symptoms, such as a loss of appetite and increased levels of irritation. The THC in the weed could mess with your balance if too much is consumed at once, can cause one to stumble and fall. Marijuana can also cause psychosis, if too much is consumed, causing people to hallucinations, to be delusional, and to their sense of personal identity. If too much THC is consumed it can also cause dizziness or lightheadedness. Also, the smoke in weed can make you develop a chronic cough or a respiratory illness, due to the weed smoke. The smoke in weed can lead to a medical condition called Cannabinoid Hyperemesis that can lead to nausea and vomiting. These disadvantages can harm an athlete and cause them to their skills in their sport. The question of college athletes using marijuana in college has stirred up a big controversy in todays times. Its controversies include both state and federal legal oppositions, as well as the many pros and cons on the effect that marijuana has on an athlete. Overall, both arguments give great examples on, whether or whether not, marijuana should be used by college athletes. However, the big question remains, should or shouldnt college athlete use marijuana? The verdict is still out!

What Are Interest Rates Finance Essay - Free Essay Example

An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. Interests rates are fundamental to a capitalist society. Interest rates are normally expressed as a percentage rate over the period of one year. Interest rates are also a tool of monetary policy and are taken into account when dealing with variables like investment, inflation, and unemployment. In traditional actuarial investigations, the interest rate is assumed to be deterministic and hence there is only one source of uncertainty, the mortality uncertainty, to be considered. Concerns about the effects of including a stochastic interest rate in the model have been growing during the last decade. The literature has tended to focus on annuities and the model adopted to describe the interest rate uncertainty, in a continuous framework, has usually involved the use of a Brownian motion (Beekman and Fuelling,1990- 1991), (Dufresne, 1990), (De Schepper et a l, 1992), (Parker, 1994), (Perry and Stadje, 2001), (Perry et al, 2003). When the market rates are high, volatility is expected to be high or when interest rates are low, volatility will be low. (Brennan Schwartz, 1980; Chan et al., 1992; Cox et al., 1985; Nowman, 1997; NowmanStaikouras, 1998) A derivative which has as an underlie the ability to pay or receive a given amount of money at a given interest rate. Interest rate derivatives are the most popular kind of derivative, and include interest rate swaps and forex swaps. Features of interest rate swaps and forex swaps are swap of fixed-for-floating interest rate, a master agreement for fixed rate interest, a floating or variable rate which is reset periodically, a set-off exercise at every reset time to swap a fixed-for-floating interest rate and floating interest rate is to based on a certain benchmark (Dr. Mohd Daud Bakar, 1971) Interest rate swaps is an exchange of interest payments on a specific principal amount. This i s a counterparty agreement, and so can be standardized to the requirements of the parties involved. An interest rate swap usually involves just two parties, but occasionally involves more. Often, an interest rate swap involves exchanging a fixed amount per payment period for a payment that is not fixed (the floating side of the swap would usually be linked to another interest rate, often the LIBOR) an interest rate swap, the principal amount is never exchanged; it is just a notional principal amount (D. K. MalhotraIn, 1998). Background research Richard J. Rendleman, Jr. (1949) is a composer whose works have been performed by The North Carolina Symphony, The South Carolina Philharmonic Orchestra, The United States Navy Band and a number of other orchestras, chamber groups and choral ensembles. His compositions have been recorded by the Seattle Symphony, The Warsaw National Philharmonic, The Czech National Symphony, The Slovak Radio Orchestra and the St. Stephens Chamber Orchest ra. Rendleman is also Professor of Finance at the Kenan-Flagler Business School of the University of North Carolina at Chapel Hill. Rendleman married Nancy Sherwin in 1974, received his Ph.D. from UNC in 1976, and taught at Northwestern University before moving back to his home state to take a teaching position at Dukes Fuqua School of Business. Although his academic career was moving along Rendleman still couldnt shake his desire to make something happen with his music. (Melinda S. Stubbee, 1996) Rendleman began composition studies with Robert Ward, and for the first few years thereafter composed mainly for piano in 1981. Later, his compositions expanded into chamber, vocal and orchestral works. Prior to studying with Ward, Rendlemans music training consisted of five years of piano lessons as a young child followed by four years of junior high and high school band. Some of Rendlemans earliest compositions were instrumental pieces written in 1966-1967 for Rhythm and Blues band , Soul Inc., known by many in the Salisbury, North Carolina area as Carolinas Finest Show and Dance Ensemble. Rendleman is also Professor of Finance at the Kenan-Flagler Business School of the University of North Carolina at Chapel Hill. He is best known for his work in derivative securities markets, particularly implied volatility and two-state (or binomial) option pricing and for his work on the relationship between stock returns and quarterly earnings surprises. For better or worse, his work on earnings surprises in the early to mid 1980s has contributed significantly to Wall Streets sensitivity to quarterly earnings during the 1990s ( Richard Rendleman, 2009) Literature Review The literature review is based on a Rendleman Bartter model developed by Yeliz Yolcu [2005]. Rendleman bartter models are the first short rate models being proposed in the financial literature. As they said before, drift and diffusion terms contain constant parameters. Moreover, they produce an endog enous term structure (current term structure of rates is an output rather than an input of the model) of interest rates in that initial term structure of rates need not to match the observed market data no matter how the parameters are chosen. Rendleman-Bartter model (1980) formulate as drt = rtdt + rtdWt; where; are nonnegative constants.When they look at roughly, we think that Dothan and Rendleman-Bartter have the same formulation. However, in the original paper of Dothan he aimed to present a valuation formula for default free bonds for a certain class of tastes when the rate follows a geometric Wiener process and so he started with his work by the above formulation (3.1.10) under the objective probability. Since, they are dealing with the risk neutral valuation, they change directly this formulation to risk neutral framework. Moreover, without doubt the analytic expression of this model is the same as that Dothan Model. Indeed, they will give the intuition of constructing this k ind of model. Rendleman and Bartter assume that the short-term interest rate behaves like a stock price less than ideal. One important difference between the stock price and and interest rate is interest rate appeared to be pulled back to some long run average level over time (mean reversion) due to economic facts. (Rogers, 1995) Unlike Vasicek, they do not corporate with the mean reversion. Michael D. Goldberg [2000] The simplest models of the short-term interest rate are those in which the interest rate follows arithmetic or geometric Brownian motion. For example, they could write dr = adt + ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢dZ (24.23).In this specification, the short-rate is normally distributed with mean r0 + at and variance ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢2t. There are several objections to this model. First, the short-rate can be negative. It is not reasonable to think the nominal short rate can be negative, since if it were, investors would prefer holding cash under a mattress to holding bonds. Second, the drift in the short-rate is constant. If a 0, for example, the short-rate will drift up over time forever. In practice if the short-rate rises, they expect it to fall; example, it is mean-reverting. Thirdly, the volatility of the short-rate is the same whether the rate is high or low. In practice, they expect the short-rate to be more volatile if rates are high. Rendleman and Bartter model, by contrast assumes that the short-rate follows geometric Brownian motion: dr = ardt + ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢rdz (24.24) While interest rates can never be negative in this model, one objection to equation (24.24) is that interest rates can be arbitrarily high. In practice they would expect rates to exhibit mean reversion; if rates are high, they expect them on average to decrease. The Rendleman-Bartter model, on the other hand, says that the probability of rates going up or down is the same whether rates are 100% or 1%. In the Rendleman-Bartter model, interest rates could not be neg ative because both the mean and variance in that model are proportional to the level of the interest rate. Thus, as the short-rate approaches zero, both the mean and variance also approach zero and it is never possible for the rate to fall below zero (Richard J. Rendleman, Jr., 1980). In the Vasicek model, by contrast, rates can become negative because the variance does not vanish as r approaches zero (Oldrich Vasicek, 1977). Professor Landsman reviews research on both the relevance and reliability of reporting fair values for loans and other financial instruments (Landsman, 2005). Accounting standard setters define fair value as the amount that would be paid or received for the item being valued in an arms length transaction between knowledgeable parties (FASB, 2004a). This is a market value definition and the standard setters have indicated that, if available, a current market price for the item is said to be the best estimate of its fair value. Relevance means that the fair va lue is capable of making a difference to financial statement users decisions. Reliability means that the reported fair value represents what it is purported to represent (Barth et al, 2001). Professor Landsman concludes that the evidence on fair value reporting supports its relevance. On reliability, he suggests there is some uncertainty, using evidence from Barth, Landsman, and Rendleman (1998) based on testing a pricing model for corporate bonds. He further discusses banks use of their private information in determining loan fair values and consequences of model valuation errors on earnings volatility. Short Title: Rendleman-Bartter Model In the context of finance the The Rendleman-Bartter model is a very important theory. The Rendleman-Bartter Model could be called a short rate model. This model deals with rates of interest. The Rendleman-Bartter Model tries to explain the growth of rates of interest and is among the earliest models that dealt with rates of interest for a s horter period of time. It applied the random process that had been used to explain the movements of the basic prices of stock options. According to the model, the instantaneous rate of interest changes in accordance with the geometric Brownian motion, which is also called the exponential Brownian motion. The geometric Brownian motion is an uninterrupted random process. In the Rendleman-Bartter Model, market risk is the sole factor that is responsible for the changes in the rates of interest. This is why the Rendleman-Bartter Model could also be called a kind of one factor model In this model Wt is nothing but a Wiener process. It models the risk factor involved in random markets. ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢ is the drift parameter of the Rendleman-Bartter model. ÃÆ'Ã… ½Ãƒâ€šÃ‚ ¸ is the standard deviation parameter of the Rendleman-Bartter model. The drift parameter of the Rendleman-Bartter model stands for the extent of fluctuation in the rate of interest. This rate is normally fixed, anticipated and instantaneous. The standard deviation parameter of the Rendleman-Bartter model ascertains the unpredictability of rates of interest. (Richard  J Rendleman and Brit  J Bartter,1979) Market risk is the risk that the value of a portfolio, either an investment portfolio or a trading portfolio, will decrease due to the change in value of the market risk factors. The four standard market risk factors are stock prices, interest rates, foreign exchange rates, and commodity prices. The associated market risk are equity risk, interest rate risk, currency risk and commodity risk (Y Amihud, 1992). Equity risk is the risk that ones investments will depreciate because of stock market dynamics causing one to lose money. The measuring of risk used in the equity markets is typically the standard deviation of a securitys price over a number of periods. The standard deviation will delineate the normal fluctuations one can expect in that particular security above and below the mean, or average. However, since most investors would not consider fluctuations above the average return as risk, some economists prefer other means of measuring it (E Dimson, 2002). Interest rate risk is the risk borne by an interest-bearing asset, such as a loan or a bond, due to variability of interest rates. In general, as rates rise, the price of a fixed rate bond will fall, and vice versa. Interest rate risk is commonly measured by the bonds duration. Asset liability management is a common name for the complete set of techniques used to manage risk within a general enterprise risk management framework (George J. Hall, Thomas J. Sargent, 2010). Currency risk is a kind of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are not hedged. Transaction risk is the risk that exchange rates will change unfavora bly over time. It can be hedged against using forward currency contracts. Translation risk is an accounting risk, proportional to the amount of assets held in foreign currencies. Changes in the exchange rate over time will render a report inaccurate, and so assets are usually balanced by borrowings in that currency. The exchange risk associated with a foreign denominated instrument is a key element in foreign investment. This risk flows from differential monetary policy and growth in real productivity, which results in differential inflation rates (Gunther Schnabl, 2006). Commodity risk refers to the uncertainties of future market values and of the size of the future income, caused by the fluctuation in the prices of commodities. These commodities may be grains, metals, gas, electricity etc. A commodity enterprise needs to deal with price risk, quantity risk, cost risk, political risk (DF Larson, 1998). The Wiener process in mathematics a continuous-time stochastic process nam ed in honor of Norbert Wiener. It is often called Brownian motion, after Robert Brown. It is one of the best known Levy processes (cadlag stochastic processes with stationary independent increments) and occurs frequently in pure and applied mathematics, economics and physics. The Wiener process plays an important role both in pure and applied mathematics. In pure mathematics, the Wiener process gave rise to the study of continuous time martingales. It is a key process in terms of which more complicated stochastic processes can be described. As such, it plays a vital role in stochastic calculus, diffusion processes and even potential theory. It is the driving process of Schramm-Loewner evolution. In applied mathematics, the Wiener process is used to represent the integral of a Gaussian white noise process, and so is useful as a model of noise in electronics engineering, instrument errors in filtering theory and unknown forces in control theory (N Dohi, 1993). The Wiener process has applications throughout the mathematical sciences. In physics it is used to study Brownian motion, the diffusion of minute particles suspended in fluid, and other types of diffusion via the Fokker-Planck and Langevin equations. It also forms the basis for the rigorous path integral formulation of quantum mechanics (by the Feynman-Kac formula, a solution to the Schrodinger equation can be represented in terms of the Wiener process) and the study of eternal inflation in physical cosmology. It is also prominent in the mathematical theory of finance, in particular the Black-Scholes option pricing model (MJ Hinich, 2010). The limitation of Rendleman-Bartter Model The assumption that the short-term interest rate behaves like a stock price is a natural starting point but it is less than ideal. One important difference between interest rates and stock price is that interest rates appear to be pulled back to some long-run level over time. This phenomenon is known as mean reversion . When r is high, mean reversion tends to cause it to have a positive drift. The Rendleman and Bartter model does not incorporate mean reversion. There are compelling economic arguments in favour of mean reversion. Hen rates are high, the economy tends to slow down and there is low demand for funds from borrowers. As a result, rates decline. When rates are low, there tends to be a high demands for funds on the part for borrowers and rates tend to rise (Y YOLCU, 2005). Other examples of short-rate model 1. Particular short-rate models Vasicek model Vasicek model is a mathematical model describing the evolution of interest rates. It is a one type of one-factor model as it describes interest rate movements as driven by only one source of market risk. The model can be used in the valuation of interest rate derivatives, and has also been adapted for credit markets, although its use in the credit market is in principle wrong, implying negative probabilities (Oldrich Vasicek, 1 977). Ho-Lee model Ho-Lee model is a short rate model to predict future interest rates. It is the simplest model that can be calibrated to market data, by implying the form of ÃÆ'Ã… ½Ãƒâ€šÃ‚ ¸t from market prices. Ho and Lee does not allow for mean reversion (T.S.Y. Ho, S.B. Lee, 1986). Hull-White model In financial mathematics, Hull-White model,which also called the extended Vasicek model is a model of future interest rates. In its most generic formulation, it belongs to the class of no-arbitrage models that are able to fit todays term structure of interest rates. It is relatively straight-forward to translate the mathematical description of the evolution of future interest rates onto a tree or lattice and so interest rate derivatives such as bermudan swaptions can be valued in the model. The model is still popular in the market today (John C. Hull, Alan White, 1990). Cox-Ingersoll-Ross model In mathematical finance, the Cox-Ingersoll-Ross model (or CIR model) de scribes the evolution of interest rates. It is a kind of one factor model and short rate model as it describes interest rate movements as driven by only one source of market risk. The model can be used in the valuation of interest rate derivatives. It was as an extension of the Vasicek model (John C. Cox, Jonathan E. Ingersoll, Stephen A. Ross, 1985). Black-Karasinski model In financial mathematics, the Black-Karasinski model is a mathematical model of the term structure of interest rates. It is a one-factor model as it describes interest rate movements as driven by a single source of randomness. It belongs to the class of no-arbitrage models, i.e. it can fit todays zero coupon bond prices, and in its most general form, todays prices for a set of caps, floors or European swaptions ( Fischer Black, Piotr Karasinski, 1991). Black-Derman-Toy model Black-Derman-Toy model (BDT) is a popular short rate model. It is a one-factor model, that is, a single stochastic factor the s hort rate determines the future evolution of all interest rates. It was the first model to combine the mean-reverting behaviour of the short rate with the lognormal distribution, and is still widely used. It was first developed for in-house use by Goldman Sachs in the 1980s and was published in the Financial Analysts Journal in 1990. A personal account of the development of the model is provided in one of the chapters in Emanuel Dermans memoir My Life as a Quant. Under BDT, using a binomial lattice one calibrates the model parameters to fit both the current term structure of interest rates (yield curve), and the volatility structure for interest rate caps (usually as implied by the Black-76-prices for each component caplet). Using the calibrated lattice one can then value a variety of more complex interest-rate sensitive securities and IRDs ( Fischer Black, Emanuel Derman, Bill Toy, 1980). 2. Multi-factor short-rate models Longstaff-Schwartz model Longstaff-Schwartz model is a two-factor model of the term structure of interest rates. It produces a closed-form solution for the price of zero coupon bonds and a quasi-closed-form solution for options on zero coupon bonds. The model is developed in a Cox-Ingersoll-Ross framework with short interest rates and their volatility as the two sources of uncertainty in the equation (Longstaff, Francis and Eduardo Schwartz , 1992). Chen model The Chen model is a mathematical model describing the evolution of interest rates. It is a type of three-factor model of short rate model as it describes interest rate movements as driven by three sources of market risk. It was the first stochastic mean and stochastic volatility. In an authoritative review of modern finance, Chen model is listed as a major term structure model. Different variants of Chen model are still being used in financial institutions worldwide. James and Webber devote a section to discuss Chen model in their book; Gibson et al. devote a section to cover Chen model in their review article. Andersen et al. devote a paper to study and extend Chen model. Gallant et al. devote a paper to test Chen model and other models; Cai devotes her PhD dissertation to test Chen model and other competing models (Lin Chen, 1994). Conclusion The Rendleman-Bartter model for pricing interest rate options makes the assumption that the probability distribution of an interest rate, a bond price, or some other variable at a future point in time is lognormal. They are widely used for valuing instruments such as caps, European bond option, and European swap option. The Rendleman-Bartter Model is analytically tractable and relatively simple to implement, however this model has limitation as it does not provide a description of how interest rates evolve through time. Consequently, it cannot be used for valuing interest rate derivatives such as American-style swap option, callable bonds, and structured notes. To overcome the limitation of this model , alternative approaches are build ,such as building of what is known as term structure model. This model describing the evolution of all zero-coupon interest rates. In conclusion, each interest rate modeling approach has its own advantages and disadvantages, selecting the suitable model to be used in each interest rate derivatives in very important as it will bring out different outcome.

Critical Opinion On Critical Thinking - 1401 Words

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Organic Foods Saving Yourself And The Environment

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Accounting And Its Impact On Business Success - 2129 Words

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The Supply and Demand of Energy and Oil - 2866 Words

Thomas Edison invented the light bulb in 1879. The first oil well was drilled in Pennsylvania in 1859. Since those two historic discoveries, technology and industry have exponentially grown to a point of absolute necessity today. The requirement of energy and oil throughout the world grows with advancement. As developed countries, like the United States, Japan, China, and Canada, progress and grow in population, more demands for energy and fuel are created. Likewise, as less advanced countries bring themselves into the global economy, they will also have increased energy and oil demands. So then the question begs, where are the resources for these demands coming from and what options will there be for future demands? Given current needs†¦show more content†¦Perceived standards of living will be reduced by lowering thermostats in winter and raising them in the summer. People will reconsider how necessary it is to drive somewhere or buy products affected by the rising oil pric es. 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Malaysian Airlines - Marketing Planning and Communications Free Sample

Questions: 1. What is meant by the term Integrated Marketing Communications (IMC) and the relevance to the Malaysian Airlines plan for a restoration project and their brand?2. What are the main components of the IMC mix and explore how they have been used by Malaysian Airlines, giving consideration to short term and long term promotional strategies?3. How agencies in marketing communications were used by Malaysian Airlines in the restoration? Answers: Introduction to Malaysian Airlines Malaysian Airlines (MAS) was developed from the venture of Imperial Airways and the Ocean Streamship Company of Liverpool. The pioneer company for airlines industry in Malaysia is known as Malaysian Airlines and it had successfully been the major player in international airlines industry on 12th October 1937. The company possesses strong and excellent service records since its formation. It is ranked among 88 contenders that measure the financial viability of an airline. The company has its outstanding and remarkable, high quality services and it focus on strong growth to become the leading multinational companies in airlines industry. It operates with the excellent flying experiences and the services are offered to meet the needs of the consumers. The target market of MAS involves the customers from high end to low end. Thus, this strategy had been successful with the introduction of sales promotion and media sources. Due to higher number of competitors, MAS concentrates to remain competitive. It also has created the strong growth of image and quality in different markets. The mission of the company is to offer the air travel and transport services that deal in terms of safety, comfort and discipline. It focuses on continuously innovate the areas of business and its relevance to reach the motto i.e. Go beyond expectation and it creates sustainable values for its stakeholders to meet the high quality services with respect to its customers. The major objectives of the company are as follows: The major objective is to create the profitable air transport system that could develop the place strategy in the world. It had played an important role in involving the economical and social approach of the nation and it promises to plan as to increase the market penetration with the proper volume of aircraft type and its resources. (Blackburn, et.al, 2000) 1. Integrated marketing communications and the relevance to the Malaysian Airlines plan IMC (integrated marketing communication) is a management strategy that concentrates on strong optimization of values for stakeholders. It is the proper integration of marketing tools and approaches that increases the impacts on the mind of consumer to increase the profits. The major aim is to focus on consistency. IMC is important to create awareness among consumers and generates high amount of sales. Through IMC approaches, the company would be able to provide correct and authentic information to its customers and it will help the company to succeed for long term. (Bennis, 2003) The relevance to the Malaysian Airlines for the restoration project and their brand includes: Corporate logo: The name used by Malaysian Airlines describes the form of quality of services. It also denotes the significance of quality of services. The company has a unique logo that resembles the best characteristics of the company with the blue and red color used in the logo. Brand positioning: The positioning used by Malaysian Airlines develops best services and quality that increases the price. Malaysian Airlines focus on applications that are useful to frequent passengers and also provides updated information via online about booking services. Thus, it becomes convenient and easy for customers to continue with the same brand. The company divides its product into different classes such as first class, business class and economy class. Malaysian Airlines has different segments of target customers such as students, business professionals, high and low income people and many more. It also offers special holidays and benefits for customers in selective choices and packages. (Bartel Saavedra, 2000) The major competitor includes Singapore Airlines and the high intensity impacts the business of Malaysian Airlines. The logo and unique trademark of Malaysian Airlines is its cultural symbol. It is recognizable by people with respect to symbols and is a well known symbol. Brand equity: Malaysian Airlines have to think for new strategies of promotion to maintain the records of customers and their loyalty. Air Asia is the competitive company and people exchange between the prices, quality, services and brands. To increase the brand equity by shifting the customers motivation, it is important to focus on people to fly with them. Malaysian Airlines focused on their strengths to manage the confidence level to consumers. (Cameron Quinn, 2006) 2. Main components of the IMC mix and short term and long term promotional strategies Keeping in view the dynamic environment of todays business, the marketer focus on creating high skills to meet the needs and demands of the customer, it ensures high availability to the customers. Communication is the process through which the messages are transferred to the desired goals. The communication with the target market is called as promotion. Various uses of communication and promotion tools include advertisement, personal selling, sales promotion, marketing (Direct) and public relations to achieve the goals and objectives of the company. (Bryson, 2004) Integrated marketing communications is a major approach that helps the company to integrate with the communication sources such as personal selling, advertisements, sales promotion and direct marketing etc. It helps to deliver the message and transform the volume of sales. Different approaches that lead to integrated marketing communications There are different factors that relate to integrated marketing communications such as: Mass marketing: The strategy of mass marketing concentrates on the consumer needs and it provides one type of product, one strategy of pricing, one promotion program and one distribution. The strategy of mass marketing leads to the increase of new market segment with distinct needs and requirements. Media: Media sources help to create awareness and the advertising is important to develop strong sources of exposure in the market. New technologies: The technologies impact the daily lives and allows creating a strong control over the communication among customers. Global market: With the emergence of technology, the culture also emerges. It is important to understand the promotional strategies and the target market. There is a need to focus on advertisement and other sources to deal with the mass media. Digital media and approaches: With digital media, consumers have special control over the information and network. It helps to deal with major options of innovation. There were high visibility among consumers with social media approaches and Malaysian Airlines were successful to spread awareness among consumers. The Company also focused on developing strong chances of success with social media. (Bridges, 2003) IMC tools also offers proper planning to execute the programs and to maintain the long term relationships with the customers. This helps to generate strong loyalty. Competitive advantage: The major tools of organization are useful as competitive advantage. It is the skill that allows superior values to the consumers and it focuses on single and the most powerful brand equity. Brand equity: IMC strategies are vital to the strategic brand management as it increases the strategy of the organization and also measures the brand image of various offerings. Online advertisement: It is the most powerful tool of IMC that develops online advertisement as people spend most of their times online and with the strong versatility of internet, it is important to gain the target market. Online campaign and advertisements will allow new skills to reach the target market, to develop the relevance and to increase the efficiency of ROI. (Chisholm, 2008) Market positioning: The positioning is an important factor that supports the relevant and innovative efforts of marketing. It is due to the fact that consumer habits are diverse and lead to strong IMC budgets. Direct marketing: This is the most effective and efficient way to deal with the target market and changing needs of consumers and to remain successful, direct marketing is helpful for targeting. Its success is based upon the skills to determine the right audience and to design the direct marketing campaign to achieve the goal. Advertising: The advertising is segmented into TV commercial advertising and it leads to major goals and objectives with the help of advertising. Sales promotion: It provides a tangible and value added strategy to motivate the consumers. There are two types of sales promotions called as the consumer as well as the trade promotions. With respect to the sales promotions, there is a need to implement consumer promotions. (Chandy Linn, 2011) IMC approaches focused by Malaysian Airlines with respect to branding for long term: Television and newspapers, magazines and newspapers and other sources are known well to increase the methods of advertisement. MAS also have been developed these steps to promote the information and offers. Newspapers and magazines and travel magazines, TV ads and commercials will be strongly focused by local channels. (Mohrman, 2002) MAS should also develop the location that could attract major number of customers is known as railway station and bus stations etc. These locations are the destination where huge number of people boards their transportation. Thus, the company attains success with huge attention and appears in the mind of the customers. (Chisholm, 2008) Trade offers and buying allowances: The Company has mixed travel agencies to buy and sell the tickets that are convenient to customers. Advertisement allowances: MAS focus on newspaper and magazines or billboards to help the consumer learn and know the latest price rates for the air tickets. Online booking: MAS ensures that their service will be the best and it designs the online booking system that helps the consumer to deal with the booking and it is convenient. Lower price rates: The Company also offers low price rates to motivate the people to travel. Marketing oriented public relations: With respect to promotion and advertisements, the public relations play a greater role to spread the information to the consumers through magazines, news channels, online commercials etc. Online advertisements develop the consumers in providing them with huge information. There are clear idea and image of the company that creates best services to consumers and MAS deals with them through the options of emailing. (Cummings Worley, 2001) Short term market strategies Short term market strategies mainly consider the four Ps of business such as product, place, price and promotion that are important for the business. These features attain the business to achieve the future plans and actions of the business and help the business to improve on many things such as whether to introduce the new product in the market or not etc. In case of Malaysian Airlines, the short term market strategies help to ensure the maximum sales and it becomes possible to achieve success for the restoration project of Malaysian Airlines. (Dannemiller, 2000) Short term promotional plans help to increase the momentum of sales and it could be gained with offers discounts, advertising, etc. Malaysian Airlines believe on providing RM1 for flight tickets to offer luxury services to its customers and it ensures that it offers its customers the convenience and high comfort. The important facility of internet booking also helps the customers to increase the best travel experiences. With internet booking, the company provides discounts and offers to the repeated customers. Long term market strategies The long term market promotional strategies include majority of internet and the information is available broadly through the presence of internet. It helps to understand the customers and to generate the long term quality. Malaysian Airlines engages in more promotional events to develop awareness and to offer a comfortable journey. It also generated the program known as frequent flyer programs to attract the potential customers. This way, the company promoted its website and emphasized hospitality. (Davis, 2001) 3. Agencies in marketing communications used by Malaysian Airlines in the restoration Malaysian Airlines focused on strong promotion techniques with respect to the PR agencies to deal with the communications. Thus, there was huge pressure in the minds of agencies. The social communication channels and advertising, sales promotion and other digital media supports promoting the company and increase high level of profitability in the restoration. With restoration activity, the company concentrated on business strategy with two elements such as to focus on premium segment and to compete in the market. (Dubois Rothwell, 2004) With respect to advertisements and social media campaigns, the company developed the branded experience for customers and changed the experience for customers. This way, it also recognized the importance of branding and positioning and achieved huge success for the company. Marketing and advertisement campaigns successfully developed to meet the success and to engage the customers with the transformation of proper message conveyed to them. Malaysian Airlines was in a unique position with the help of PR and marketing efforts to deal with the environment. To achieve the long term corporate image and the growth of the company, the company needed to re-enter the communications and campaigns that is also known as a long term strategy for customers. (Galbraith, et.al, 2002) Thus for the restoration strategy, the company will focus on rebranding strategies and this way, it will differentiate the characteristics and attributes to the product or service. It will also be able to communicate the values and promises with respect to the branding and unique as well as corporate logo design. Strong and corporate brands are authentic and emotive. Thus, Malaysian Airlines will understand the perceptions of consumers and increase its strategy on rebranding. This way, it will be able to help people achieve the best thing and the company will also be able to perform with the same identity. This will also help the company to re-communicate with its customers. With corporate structure and activities of promotion, Malaysian Airlines will deal with the structural activities and it will also support the important ways of advertising. It will encompass issues associated with the female empowerment, gender, age and other issues of organizational structure. (Kohl and Ngozi, 2005) Thus, Malaysian Airlines took the help of advertising agencies to rebrand its strategy and to increase the awareness among consumers and develop the positive image in the minds of consumers. It will be able to develop the understanding and create the fast culture. The company has thus communicated with the customers and families through major activities and sources of communication channels and social media. It also generated strong amount of face book users for restoration. This way, the company generated strong social media networks and abilities. It also developed the innovative and creative approaches and it also generated creativity and it also ensures other zones of comfort and other issues to deal with the challenges. (Kotter, 2002) Corporate brands have to deal with identity and proper personality with respect to the employees, activities and products and services and customers with respect to the organization. The brand is more than a logo and strong corporate brands are reliable and authentic with respect to the market changes. It also deals with the development and it initiates with respect to the company and its target with respect to the perceptions of customer. (Lakoff, 2002) The MAS brand has been developed with respect to the strong amount of national identity and pride. It develops clear message among people and processes that is important. This is driven by social media and advertising. This way, Malaysian Airlines focused on strong advertising and branding agencies. Through this approach, it would be able to involve the professionalism and emotion and focused on creativity with respective to deal with culture. (McCoy, et.al, 2002) Conclusion To conclude, marketing communications deal with proper business and communications. The Malaysian Airlines focused on different branding and cultures with respect to the communication and other strategies. References Bartel,C.A. Saavedra, R. (2000).The collective construction of work group moods.Administrative Science Quarterly.v45n3, 197-231. Bennis, W, 2003. On Becoming a Leader. New York: Perseus Press, 2003. Blackburn, J Chambers R, and Gaventa J, 2000. Mainstreaming Participation in Development. Operations Evaluation Department (OED) Working Paper Services No. 10, World Bank, 2000. https://wordbank.org/html/oed. Bridges, W, 2003. Managing Transitions: Making the Most of Change. Cambridge, A:DaCapo Press Brinkerhoff, D. and B. Crosby. Managing Policy Reform: Concepts and Tools for DecisionMakers in Developing and Transitioning Countries. Bloomfield, CT: Kumarian Press, Inc., 2002. Bryson, M, 2004. Strategic Planning Set. 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