The rules of the secret trusts - Free Essay Example

Sample details Pages: 7 Words: 2193 Downloads: 6 Date added: 2017/06/26 Category Law Essay Type Analytical essay Did you like this example? 107633 Introduction The secret trusts include fully secret trusts and half secret trusts. They are mechanisms whereby estate can be disposed of without the details of the beneficiary becoming common knowledge. Rules for testamentary dispositions are strict and this is necessarily so since the testator is no longer able to provide evidence of intention. Don’t waste time! Our writers will create an original "The rules of the secret trusts" essay for you Create order Despite arising from a historic need, felt acutely, when expectations of society were such that individuals felt compelled to conform despite having aspects of their lives they wished to conceal and still provide financially for their mistresses and illegitimate children after death. So the secret trusts arose as a means of à ¢Ã¢â€š ¬Ã…“breaking the rulesà ¢Ã¢â€š ¬Ã‚  surrounding the writing of wills but unfortunately they also break the rules for trust law. It is therefore not surprising that their legal justification is so much in doubt. The rules of the secret trusts Inspection of the will reveals nothing about the existence of a secret trust and no details about the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s identity in the case of a half secret trust. In a secret trust the testator tells the legatee that he is a secret trustee and what he must do with the property; Ottaway v Norman [1971].[1] Alterations to the details of a fully secret trust can be made by the testator right up until the time he dies. Although there are similarities between the two types of secret trust there are also important differences. Communication of a secret trust may be in a sealed envelope; Re Keen [1937].[2] The secret or half secret trustee must accept the trust; this may be express or implied Wallgrave v Tebbs [1972][3] or by silence; Moss v Cooper (1861)[4] or conduct; Ottoway v Norman [1972].[5] An essential element is an obligation which must be legally binding; McCormack v Grogan.[6] There are some important differences between the two types of secret trust as outlined and justified by Wilde, 1995. The testator must have communicated a fully secret trust to the secret trustee before he, the testator, dies; Moss v Cooper (1861)[7] otherwise the trust fails and the secret trustee will hold the property for himself absolutely; Re Gardner [1920].[8] If the secret trustee dies before the testator a fully secret trust will fail; Re Maddock [1902][9] because according to th e will the secret trustee is only a beneficiary and a beneficiary must survive a testator. However if the trustee of a half secret trust dies before the testator à ¢Ã¢â€š ¬Ã…“equity will not allow a trust to fail for want of a trusteeà ¢Ã¢â€š ¬Ã‚  and another trustee will be appointed ; Re Smirthwaite (1861).[10] In the case of a half secret trust the trust must be communicated to the half secret trustee before the will is made; Blackwell v Blackwell [1929][11] Reference to instructions after the will is made invalidates the trust; Re Batemanà ¢Ã¢â€š ¬Ã¢â€ž ¢s Will Trusts [1970].[12] A half secret trustee may witness a will by which he clearly does not benefit therefore s.15 Wills Act 1837 is inapplicable; Creswell v Cresswell (1868).[13] The practical and legal problems The legal requirements in relation to wills confers protection against fraud in the situation where the testator is no longer able to protect his wishes. A will must comply with certain formalities and t his is interpreted strictly. S.9 Wills Act 1837 states that to be valid a will must be in writing and signed by the testator in the presence of two independent witnesses who must also sign the will. Formalities are also required for alterations; Re Edwards [1948].[14] However the secret trusts are having the effect of handing over property after death and failing to comply with these requirements despite the fact of the will the detail required by statute is just not there. S.25 Wills Act 1837 states that a beneficiary must outlive the testator yet the secret trust is created before the testator dies and the beneficiaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s estate may benefit; Re Gardner (No 2) [1923][15] but, defying s.25 Wills Act 1837 there is benefit to the estate upon the death of the testator. The anomaly here is that the testator could have changed his will right up until the time of his death. A fully secret trust contravenes s.53(1)(c) of the Law of Property Act 1925 since nothing need be in writing at the time of transfer during the effect of the will since at this point the legal and equitable interests are fused; Gold v Hill [1999].[16] A beneficiary under a will cannot witness that will; s.15 of the Wills Act 1837 yet the fully secret beneficiary (but not the fully secret trustee) can; Re Young [1951].[17] If it were to be accepted that the secret trusts operate outside the will then the law of trusts should apply to them. Yet they disregard trust law in many respects. For instance expectancy cannot usually be the subject matter of a trust yet this happens for the secret trusts; the secret beneficiary not acquiring the property until the death of the testator. The secret trustee commits fraud if he breaks his promise to the testator and instead keeps the property for himself. The fraud would actually be committed against the testator and also against the secret beneficiary. Lord Viscount Sumner stated in Blackwell v Blackwell [1929][18], à ¢Ã¢â€š ¬Ã… “the proposed donee [secret trustee] encourages him to bequeath the money in the faith that his intentions will be carried out.à ¢Ã¢â€š ¬Ã‚  An extension of the fraud is where the secret beneficiary has mischievously encouraged the testator to set up the secret trust in the first place. This fraud either cannot occur or is exceedingly difficult in the case of a half secret trust since the fact of the trust and the identity of the half secret trustee are both readily available from inspection of the will. Whether it is a sufficient justification for the acknowledgment of both fully secret and half secret trusts The fully secret trust may well work because of the effects of the equity maxim à ¢Ã¢â€š ¬Ã…“equity will not allow a statute to be used as an instrument of fraud.à ¢Ã¢â€š ¬Ã‚ [19] If this doctrine was not in existence then if the secret trustee committed fraud by keeping the property he could argue that according to s.9 Wills Act 1837 the will, not complyi ng by not being in writing, negated the trust. It is up to the secret beneficiary to make the challenge; Re Snowden [1979].[20] The court will not allow the secret trustee to retain the property because the statute relating to formalities has not been adequately met. The Statute of Frauds 1677 was incorporated into the Law of Property Act 1925 and the Wills Act 1837. These statutes cannot be used by the unscrupulous to fraudulently retain trust property; McCormick v Grogan (1868)[21] LR 4 HL 82. The existence of the half secret trust depends in part upon the mechanism of avoidance of this fraud whereby the secret trustee has to complete the personal obligation that he owes the testator.[22] The court of conscience about which Lord Viscount Sumner spoke in Blackwell v Blackwell [1929][23] is equity; meaning that the fraudulent behaviour would be unconscionable and that in this context this doctrine à ¢Ã¢â€š ¬Ã…“seems to be a perfectly normal exercise of general equitable jurisd iction.à ¢Ã¢â€š ¬Ã‚  The unconscionability and the fraud theory are closely linked. Lord Viscount Sumnerà ¢Ã¢â€š ¬Ã¢â€ž ¢s view in Blackwell v Blackwell [1929] is very likely to amount to sufficient justification for the existence of the fully secret trust. However there are difficulties in applying this theory to the half secret trust. Whilst the unconscionablity is still relevant here the possibility and likelihood of fraud is very much less since the will displays the trust situation for all to see. Partly for this reason the fraud theory has been extended; the fraud being the general fraud on the testator and on the beneficiary; Hodge (1981). An alternative and more recent view is that the secret trusts are operating outside the will (this is also known as the dehors the will theory); Re Snowden [1979].[24] This approach was considered in Blackwell v Blackwell [1929].[25] By this mechanism the secret trusts should not fail because the details were not in writing. Secret tr usts are described as being inter vivos trusts. The point of communication and acceptance between testator and secret trustee marks the point of creation of the trust and this trust is only properly constituted when the testator dies. This approach has had some subsequent support for instance in Re Young [1951][26] a secret beneficiary by being able to witness the will illustrates that the arrangement was not confined to the written requirements of a will, specifically s.15 of the Wills Act 1837. In the half secret trust to which the fraud theory does not apply and the unconscionability doctrine becomes less applicable there is uncertainty about how such a trust can exist. The nature of the requirement for the communication of a half secret trust being required before the will is made[27] might be connected with the concept of à ¢Ã¢â€š ¬Ã…“incorporation by referenceà ¢Ã¢â€š ¬Ã‚  of a document that already exists; Johnson v Ball (1851).[28] However if a future document is referred to for incorporation the trust will not comply with the Wills Act 1837 and will therefore fail. The dehors the will theory can be criticised because if a secret trust is not within the will and is therefore not within the constraints of the law of wills or propate then the secret trust must instead be subject to the rules of trust law; Challinor, 2005. There are however a number of important was in which the secret trusts are not compatible with trust law either. When property is not yet acquired but is the subject of the secret trust this is contrary to trust law. An expectancy cannot be the subject of a valid trust. The dehors the will theory is supported in Re Gardner (No 2) [1923][29] but not in Re Maddock [1902].[30] In the latter case a secret trust failed because the secret beneficiary died before the testator. This failure illustrates that the rules relating to a will were still having an effect on the secret trust. The dehors the will theory does not provide a c omprehensive explanation of the secret trusts; Kincaid, 2000. Regarding trust law if the secret trusts are operating outside the will there is still the perplexing issue of what types of trusts these are. The majority view as described by Moffat, 2005[31] is that both types of secret trust are express trusts. However Sheridan, 1951 classes fully secret trusts as constructive. If the secret trusts are express then they ought to comply with trust law regarding s53(1)(b) and s.53(1)(c) Law of property Act. A half-secret trust concerning land has to be evidenced in writing Re Baillie (1886).[32] Clearly the fully secret trusts do not comply with this requirement and therefore they are more likely to explained as implied trusts. There remains a lack of clear distinctions as to when these trusts are constituted and when they take effect; Ottoway v Norman [1972][33] and Re Gardner (No 2).[34] Conclusion The secret trusts remain a facility now used more by the indecisive when makin g a will rather than by those who require secrecy. The present arrangement whereby a fully secret testator need not detail the trust before the will is made may be some encouragement to the testator who is slow to make up his mind; Moffat, 2004).[35] This problem could be eliminated by using the rule in the half secret trust whereby the trust must be detailed before the will is made. The justification for the existence of these trusts has long presented difficulty. Classifying the different types of secret trust as one has contributed to the problem. Whilst there are a number of theories they all encounter inconsistencies with recognised principles of law. The functioning of these trusts does defy the strict rules of the Wills Act 1837 and whatever justification is accepted for this it still contravenes the basic concept that the details of a will must be evidenced in writing. Bibliography Books Hayton DJ 2004 Hayton Marshall Commentary and Cases on The Law of Trusts an d Equitable Remedies 11th edition London Thomson Sweet and Maxwell Moffat G 2004 Trusts Law Text and Materials 3rd edition Cambridge, Cambridge University Press Articles Challinor E Debunking the myth of secret trusts 2005 Conveyancer and Property Lawyer 2005 492 Hodge, Secret Trusts: The Fraud Theory Revisited 1981 Conv 341 Sheridan 1951 67 LQR 314 Kincaid D The Tangled Web: The Relationship between a Secret Trust and the Will 2000 Conveyancer and Property Lawyer 420 Wilde D Secret and Semi-secret Trusts: Justifying Distinctions Between the Two 1995 Conveyancer and Property Lawyer 366 1 Footnotes [1] Ottaway v Norman [1971] 3 All ER 1325 [2] Re Keen [1937] Ch 236 [3] Wallgrave v Tebbs [1972] 2 K J 313. [4] Moss v Cooper (1861) 1 JH 352 [5] Wallgrave v Tebbs [1972] Ch 698 [6] McCormack v Grogan (1869) LR 4 HL 82 [7] Moss v Cooper (1861) 1 S H 352 [8] Wallgrave v Tebbs (1855) 2 K J 313 [9] Re Maddock [1902] 2 Ch 220 [10] Re Smirthwaite (1861) LR 11 EQ 251 [11] Blackwell v Blackwell [1929] AC 318 [12] Re Batemanà ¢Ã¢â€š ¬Ã¢â€ž ¢s Will Trusts [1970] 1 WLR 1463 [13] Creswell v Cresswell (1868) LR 6 EQ 69 [14] Re Edwards [1948] Ch 440. [15] Re Gardner (No 2) [1923] 2 Ch 330 [16] Gold v Hill [1999] 1 FLR 54 [17] Re Young [1951] Ch 344 [18] Blackwell v Blackwell [1929] A.C. 318 [19] McCormick v Grogan (1869) LR 4 HL 82 [20] Re Snowden [1979] 2 WLR 654 [21] McCormick v Grogan (1868) LR 4 HL 82. [22] Lord Westbury in McCormick v Grogan (1869) LR 4 HL 82 [23] Blackwell v Blackwell [1929] A.C. 318 [24] Re Snowden [1979] 2 All ER 172 [25] Blackwell v Blackwell [1929] AC 318 [26] Re Young [1951] Ch 344 [27] Blackwell v Blackwell [28] Johnson v Ball (1851) 5 De G Sm 85 [29] Re Gardner (No 2) [1923] 2 Ch 330 [30] Re Maddock [1902] 2 Ch 220 [31] p 119 [32] Re Baillie (1886) 2 TLR 660. [33] Ottoway v Norman [1972] Ch 698 [34] Re Gardner (No 2) [1923] 2 Ch 330 [35] p 124

Conflict With Israel And Palestine Conflict Essay

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Annotated Bibliography of Articles Related to Oral Feeding...

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Essay about Actual and Symbolic Barriers in Robert...

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Art Of The Ancient Christians Essay Example For Students

Art Of The Ancient Christians Essay Similar to the Greeks and the Hellenes, sculpture of the Republican period employed the use of marble to naturalistically represent the human. They were more realistic, like the Hellenes than the idealized naturalism that governed the Classical Greek period. The purpose and subject matter didnt really change much from the Hellenes. The Republican period Roman sculpture glorified generals, prominent figures, ancestry, and the gods to an extent. (Usually when the gods were represented the intent was to show a lineage.) The patrons of the time were mostly noble men who wanted to prop up and parade their ancestry to glorify their genealogy for all their friends and slaves. The portraits of prominent Roman Republican figures seem to be literal reproductions of faces complete with scars, wrinkles and sometimes crooked or unsymmetrical noses or ears. Usually the person depicted was an older male who wasnt smoothed out in the marble, so to speak, but were rather veristic (insanely realistic) with every facial surface, both flattering and non represented. A famous bust of this sort is the Head of a Roman patrician from Otricoli (ca. 75-50 BCE). While the Romans favored naturalism for the heads, a bit of the idealism that governed Classical Greek art slipped into the representation of figures bodies. For the Portrait of a Roman general from the Sanctuary of Hercules (ca. 75-50 BCE), an old mans head is propped atop the idealized younger body, complete with washboard abs. His drapery responds to gravity, similar to the Greeks and he is almost nude. This tactic seems to immortalize the character, preserving his image as powerful, youthful and strong physically while still being a wise wrinkled patrician. The references to Greek art make him seem more cosmopolitan (which as a general, indicated by his cuirass, he probably would have traveled the empire) yet covering his nudity makes him (or just his patron) modest. Continuing with the idea of preserving ones romanticized image is the Portrait of Augustus as a general (early 1st century CE). Although thought to have been physically weak in real life, Augustus is depicted with ki ller biceps and amazing Pecs in idealized naturalism. His drapery responds to gravity and his breastplate is elaborate, complete with symbolism as well as an agenda. The purpose of the sculpture is to demonstrate the military power of Augustus (after all, he is displayed as a general), display his lineage, introduce a golden age in Rome and return to the Greek Classical period in art. The sculpture is based closely on Polykleitos Doryphoros (quote from text book) with the shape and features of the head emulating that style. Augustus has cupid riding a dolphin at his feet to proclaim his divine ancestry and his familys connection with Venus. With his right arm raised as if addressing the people, Augustus is attempting to be portrayed as an orator and a diplomat, and his breastplate has Atlas on it. Every part of this statue has an agenda as was the case for Roman Republican Art. As the patrons in almost all cases were men from distinguished families with an agenda of immortalizing their lineage, wisdom and other romanticized attribute, the faces were often displayed with every unflattering detail and bodies were youthful and idealized.

Impact of Advertisement on Sales of a Product

Question: Discuss about the Case Study for Impact of Advertisement on Sales of a Product. Answer: Introduction Advertisement can be defined as a means of non-personal presentation in promoting ideas or goods and services by a company to its customers. Advertisements are always paid for since a media has to be used in conveying the message. Advertisement can be divided into three different errors including the pre-marketing error, dating back to the mid eighteenth century where buyers and sellers only met in private places. During this period, means such as taverns were used to advertise a product. The mass communication error was then introduced in the mid 1700. This made advertising quite easy since a large population was able to get the information faster through broadcast media. The latest advertising method has been introduced in the research era; this method is able to reach the narrowly targeted group. Here, every group has its message thats basically intended for it. Advertising is a popular concept in marketing practice in the sphere of commerce. It connotes marketing communication ai med at promoting the sale of a product, majorly in a business context. Brand equity has become a major issue in most organizational environments; therefore a lot of research has been put in place to manage, increase and quantify branding (Keller and Lehmann, 2006). This study works on advertising features such as non- monetary promotions and what exactly is contained in the advert. Some of the frameworks used to identify the consumers taste about a brand include; loyalty of the brand and its associations, brand awareness and its perceived quality. However, some factors have to be considered while advertising a brand to a consumer; country of origin, age of the brand, likely risks of the brand and the market size among others. (Simon and Sullivan, 1993) The study investigates the association of two marketing elements i.e sales promotion and advertising. Specifically, my research focuses on advertising of new brands in a quantitative and qualitative manner. The study also aims at showing how advertising is important in influencing brand equity dimensions by improving the consumers awareness. The proposal will focus on the various aspects of research including the Problem Statement, Research Objectives, the project Justification/rationale, anticipated/expected research result or Output, Research Hypothesis, Conceptual Framework, Organization and Methodology of the Study. The project timeline, listing the budget estimates and the Gantt chart, will also be dealt with. Problem Statement Currently, the marketing era has become competitive, therefore many managers in different business organizations have to employ and adopt latest branding and advertising promotional tools in order to sell their products. Advertising therefore remains the major tool in information dissemination to the market whenever a new product is to be introduced. This makes the consumers aware of the new product hence they gain the interest to purchase and use the products. The relevant statement of the research is the impact of advertising and branding on the sales of a new product in a business organization. However, even with the above and many more advantages of advertising in impacting sales and organizational success, not much research have been conducted to unveil the holistic impacts of the undertaking. There is not sufficient research-oriented evidence that links advertising and branding to world economies directly or through proxies (Lake, 2016). Effectively, therefore, the research seeks to fill these gaps. It seeks to explore and evaluate the impacts of proper advertising and branding policy and practice on the pace of growth and expansion of an organization and its general marketing success in the long run. Research Objectives The main objective underlying all advertising is building primary demand and increasing awareness among consumers of a new product. Its also clear that companies spend a lot of money on advertisement with the aim of increasing profitability and reputation of the company. As is conventional, the answers to these research questions will help meeting the requirements of the objectives stated above. The will help bring out the aspects of advertising and branding under consideration. Other broad objectives are: To increase market share through advertising. To build brand performance and recognition through advertising. To develop overseas market. Justification of the project This study properly researched and supervised will enable groups such as supermarkets, policy makers, practitioners, experts and other scholars in conveying a lot of information in decision making and operations when advertising and branding a product. In addition, other officials responsible for marketing in various companies more so those involved in consumer production sector will be well conversant will the advantages and disadvantages of advertising. Despite all the above being put into consideration, consultancies involved in promotion and other researchers still need more information to successfully carry out their study. The commercial message with sound quality overwhelms the consumers when they see or hear it. Researching in this area to make such facts bare and accessible is fundamental in contributing to the best marketing practice and organization development. Moreover, the focus on the impacts of the advertising on the sales volume most addresses the positive aspects on ly. However, in this research, the focus is not only on its positive effects but also on the negative effects. The research will also delve on the entirety of the spectrum in the sense of its effect on the companys marketing practice and organizational success (Landau, 2015). Expected Research Output / Outcomes In markets, business activities are characterized by global competition and changes in technological developments or consumers preference and taste and other market forces that lead to decreased product life cycle within the market environment (McAlister, 2007). Due to such uncertainties, business persons must strategize to offer services that their competitors do not offer; this is achievable by having a positive reputation. These services should as well be long term, this links to the branding concept (Mizik, 2008). To gain sustainable competitive advantage, one can promote branding and branding equity in a wider perspective. This research expects to clearly bring out the following elements. The practical benefits of active and proper advertising and branding and how it has led to marketing and organizational success in specific case stories. Working methodologies of promoting branding and advertising to achieve greater heights of organizational success. The proposal will also highlight the negative impacts of the practice, showing how the negative cases came about. It will then highlight the methods of overcoming the negative aspects. The above mentioned outcomes define the scope of work of the proper research so that the relevant apparatus will be directed accordingly (Buholaiqah, 2009). Conceptual Framework To understand a brand, one has to go beyond the logo, image or the tagline on the product. However, a consumer should look at a set of relationships and expectations from a product. After all, its the customers view about a product that determines whether he or she will purchase the product. There are some slight differences that a sales manager has to be will conversant with; for example, a product is always in the shop of a retailer whereas a brands is an imagination on the consumers mind, its so difficult to copy a brand as compared to copying a product by your competitor and finally, a brand last for long time periods compared to a product that quickly gets outdated. (Batey, 2008). Its also clear that consumers do not have a close association with a product as compared to a brand that has a set of promises with it. Therefore good brands stick for long in the consumers mind hence increasing their purchasing power thus promoting the companies name. Despite having a strong brand pro file, advertisement communication to the buyers is paramount to ensure the quick sale of the brand, otherwise if the communication is weak then the brand will definitely fail. To build a strong brand, a manager has to understand the competitors taste. Even though developing strong brands take a very long time, new brands need to be relevant and appealing to the buyers hence need to change over years to adapt with the changing consumers taste (Batey, 2008). Research Hypothesis As is conventional in research the hypotheses holds the positions that will be proved or questions that will answered by the outcomes of the research process. Accordingly, null and alternate hypotheses are often about the same principles. H 0(a): Advertising serve as communication gadgets by companies to its customers. H 1(a): Advertisement does not increase the revenue stream to the company leading to an increased and widened profit margin. H 0(b): Advertising has an Impact of increased revenue stream to the company. H 1(b): Advertising has no impact of organizational success to the company. H0 (c) Advertising has the impact of causing organization success to the company . Methodology In undertaking the research to test the above hypotheses, various methodologies will be employed, some of which involves the consumers whiles others engage the records of the company. In this regard, in investigating the effects (positive and negative) of advertising on the companys revenue stream and profitability, model companies will be selected. Six companies that practice active advertising in their marketing mix will be randomly sampled to help in the study and analysis. Those with exceptional result in profitability and revenue stream will be used as control. Their financial statement with the same trading year will be analyzed in terms of rate of stock turn over, revenue stream, profitability or losses among other financial analysis parameters. Further, the movement path of the product of the model companies will be followed for the most advertised product vis--vis the less advertised one to demarcate the effect of advertisement. This will ensure practical observation of the product movement through the market chains is achieved. This in turn will help explain the difference between the practices of advertisement in terms of product performance in the market. The other methods of obtaining information will include using key informant interviews using the Sales executives, financial controllers and the CEOs of the respective companies sampled. The conversation with the officials of the companies will focus on the advertisement implementation schemes of their companies and the effects on the balance sheet over the one year financial year. The use of questionnaires and surveys will be used in data gathering. In conducting the research on advertise, the following fact of the path of commodity movement in the channel must be understood. The product being advertised passes through the following stages in the hands of the consumer; (Naik, 2003) Introduction Stage: consumers are for the first time introduced to a new product in the market. This is the earliest stage in advertisement and the sales here for the product are very low but a lot of money is used in advertising the product. This is majorly because most consumers arent aware of the new product therefore advertisement is critical. Growth Stage: A good number of customers are well informed of the new product through advertising and the sales start to increase. Consumers buy more of the product after theyre convinced that this is the good or service they really need. The company starts making profits at this stage since less is spent on advertisement of the new product. Maturity Stage: Advertisement of the new product is still on though most customers are aware of the product. At this stage, total profits are still high though it continues to decline since the product is accepted by most of the buyers. Decline Stage: Most consumers exhaust the product or service under subject and tend to shift to the new products in the market. The sales and profits made here start to decline at a faster rate. The research will be conducted to evaluate the likely effects of advertising on the benefits the company and also the consumers view about the concept of labeling. The major focus is to obtain how and advertising shapes the customer perception of the product in question and how this translates into sales. (Naik and Raman, 2003). The consumers on the other hand must go through other additional processes including; Awareness Stage: At this stage, the consumers do not have information about the product but they are made aware of the new product being introduced by the company. Interest Stage: Consumers develop interest in the new product and start being inquisitive, the advertising sector of the company therefore comes in to describe the new product to the buyer. Evaluation Stage: The consumer compares the new product with the other initially used, he/she weighs the advantages and the disadvantages and finally makes the decision to try the product or not. Trial Stage: Consumers give the new product a trial over a period of time then compares the taste to the products initially used. Adoption Stage: Consumer finally decides and uses the good or service on a regular basis. Post-Adoption Confirmation Stage: This is the last stage where the consumer gets the assurance that he made the right decision to using the good on a regular basis. (Heaton, 2015). Data Analysis: Both quantitative and qualitative methodologies will be employed in this research. The data collected through the surveys and the questionnaires will be collated and statistically analyzed through the authentic packages. Thereupon, the analyzed data will be subjected to metaphysical and logical critiquing and reasoning to ensure the most probable conclusion. Qualitative Analysis: This analysis seeks to establish a causal link between the data generated from the collection and the expected happening to firm up the reasoning. The literary concepts are engaged to come up with an origin for forming a united association based on the learning from the online discussions and research. Alternative methods popular in this regard include FGD(focus groups discussion), thorough interviews, key informant interview and checking of documents. Inductive investigation and reason is particularly popular with this method to formulate a theory or hypothesis. Statistical tests are not engaged. (Nfs Gov., 1997). Quantitative Analysis: Statistical operations are used in this case. Items like tables, figures, excel sheets, pie charts and statistical functions are used. The collected data are manipulated in the process of statistical and mathematical modeling to produce patterns displayed in graphs to better explain the situation. Tools such as frequency distribution, regression analysis and central tendency measurement which are in the domain of descriptive statistics are used in this case. In analyzing the thesis, several tools which will tend to analyze whether the contemplated hypothesis are to be accepted or declined. In this research, just as has been mentioned, both the methods above will be complementarily engaged to develop the solution in handling the stated problem. Data realized through the questionnaires, interviews, survey and secondary sources will be organized in an orderly manner to enable seamless deployment of the two methods. Study Framework My study is expected to test the validity of the works done previously by other researchers in relation to my study. The existing theory will be used as a means of understanding the conflicting ideas among researchers. This research will be executed in a stepwise and organized fashion. The framework will include handling every segment in differentiated but linked chapters in the final report. Accordingly, the various segments will be assigned various time limits complete with the proposed budget. This will enable proper accounting for every resource used and the remaining bits. (Leighton, 2012). Timeline The time budget for the research operation can be mapped using the Gantt chart as shown below: Week Task 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Identification of Topic Finding Background Information Literature Review Collection Evaluation of Findings Research Design Data Collection Data Analysis a Expected outcome Identification Submission of Report Gantt chart: Proposed Budget and Its Justification The proposed cost for this study is $5800- $7800. All arrangements will be made to ensure that the various activities are carried out during the specified time frames as shown in the Gantt chart. The budget has taken care of the cost of acquisition of the resource documents from government departments and other organizations. It has also taken care of any unplanned activity and that is why the approximation is wide enough. The proposed cost will include the elements below: Review of the Literature will incorporate different resources such as textbooks, journals and online among other sources for the purpose of acquisition of data. The assigned cost is approximated to be $1300- $1600. The Data Collection method will involve; preparation and printing of questionnaires, their collection and distribution, facilitation of research assistants while researching and creating of mails. The budget for this will be $1800- $2500. Miscellaneous such as visiting government libraries for documents could also require some fee. This is budgeted for at $700-$1000. Data Analysis which will account for $2000- $2700. My parents will sponsor the whole of my project in case it goes through the proposal stage. The total budget for the operation is estimated to be in the range of $5800- $7800. The breakdown is shown below. Purpose Approximated Cost Literature Review $1300 - $1600 Data Collection $1800 - $2500 Data Analysis $2000 - $2700 Miscellaneous $700 - $1000 Total $5800 - $7800 References Batey, M. (2008), Brand Meaning, Taylor Francis Group, New York Buholaiqah, A. (2009). Employment Branding:The Impact of Company Image and Training. California State University. Retrieved from https://web.csulb.edu/colleges/cba/honors/thesis/documents/Ahmed_Thesis.pdf Dolatabadi, H. R., Kazemi, A., Soltani, N. (2012, November). The Impact of Brand Personality on Product Sale through Brand Equity (Case Study: Cosmetic Products Retailers). International Journal of Academic Research in Business and Social Sciences, 02(11), 1-16. Retrieved from https://www.hrmars.com/admin/pics/1320.pdf Heaton, J. (2015). Invisible Consequences: How Branding Impacts B2B Sales. Invisible Consequences. Retrieved from https://www.tronviggroup.com/invisible-consequences/ Keller KL, Lehmann DR. 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