Archers Organic Foods Essay Download Pdf - Free Essay Example

Sample details Pages: 7 Words: 2174 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Report Did you like this example? I. Introduction Archers Organic Foods plc is a producer and distributor of organic foods. The company is looking to expand the business by acquiring a farm in the North of England. Don’t waste time! Our writers will create an original "Archers Organic Foods Essay Download Pdf" essay for you Create order This report analyses the financial viability of two farms by using a number of investment appraisal methods. The two farms differ in their initial investments, sales and costs. The freehold of option 1 farm will be acquired at the beginning of the project. The farm in option 2 will be taken on a 10-year lease with deposit and annual rent payments. The report makes a recommendation on the final selection of a farm by evaluating the results, strengths and weaknesses of four investment appraisal methods. The four investment appraisal methods used in this report are the Accounting Rate of Return (ARR), payback period, Net Present Value (NPV) and Internal Rate of Return (IRR). The results of the four investment appraisal methods may not be similar because of differences in their approaches and calculations. Hence, it is beneficial to use more than one investment appraisal method and understand the benefits and limitations of each method before making a final decision. II. Investment appraisal methods The four investment appraisal methods can be classified into two main categories. The ARR and payback period are non-discounting methods whereas the NPV and IRR are discounting methods. The ARR method measures the accounting profit rate by dividing the average income by the average investment (Hansen and Mowen, 2007, p. 568). The method is simple to use but has major limitations. It ignores the time value of money which is a major drawback in case of projects with long lives. Also, a benchmark rate is required for comparison. The payback period calculates the time required to recover initial investment from the operating cash flows of a project (Brigham and Houston, 2007, p. 373). Shorter payback period projects are preferred as they generate cash equal to initial investment in a shorter duration and this can be viewed as a proxy of risk. However, the payback period method ignores the time value of money (Kinney Raiborn, 2011, p. 655). It also ignores the cash flows after th e payback period which could result in a selection of a project that adds less value. The NPV method calculates the net value of a project by discounting the cash flows at a rate which reflects the risks of those cash flows. The discounting of the future cash flows is a major advantage of the NPV method over the non-discounting methods. This is very important for valuing the two alternatives as cash flows are spread over 10 years. The drawback of the NPV method is that it assumes constant gearing to maintain same cost of capital. This rarely happens as cash inflows over the period change the gearing. A company will have to issue debt regularly to maintain same gearing (Delaney, 2008, p. 37). This is difficult to do due to administrative issues and costs. It is also not easy to calculate cost of capital that is used for discounting cash flows (Howe, 1992, p. 34). Finally, the NPV method is not useful on its own when a company faces capital rationing. The profitability index may have to be used along with the NPV to evaluate investments in a capital rationing scenario. IRR method also discounts the future cash flows and gives the cost of capital at which the NPV would be zero. This gives an idea about the margin of safety that is available in terms of possible decline in the rate of return before it equals cost of capital. The limitation of the IRR method is that it can give two IRRs for same set of cash flows if the pattern of cash inflows and outflows reverses more than once during the life of a project (Brigham and Daves, 2009, p. 421). It also assumes that cash inflows during the life of a project will be reinvested at the IRR which may not be true as the firm may not have similar opportunities to invest in. The investment appraisal methods have their pros and cons and it is useful to use more than one method to get a better picture. III. Results of investment analysis The first option is the freehold acquisition of a farm at  £1,500,000. The calculations and results of the investment appraisal methods of option 1 are shown in appendix I. It is assumed that the farm will be sold for  £1,500,000 at the end of 10 years. It implies that the average investment over the period will be  £1,500,000. ARR = Average profit / Average investment =  £313,000 /  £1,500,000 = 20.83% The cumulative cash flows turn positive for the first time in year 6. Payback period = 5 + (245,000/360,000) = 5.68 years. The NPV of option 1 is  £739,000 and the IRR is 19.43%. The second option is to lease a farm for 10 years. A down payment of  £300,000 will be made at the beginning of the 10-year period. It is assumed that the down payment will be returned at the end of 10 years. The average investment will be  £300,000. The calculations and results of the investment appraisal methods of option 2 are shown in appendix II. ARR = Average profit / A verage investment =  £190,000 /  £300,000 = 63.33% The cash flows are adjusted to reflect the fact that annual rents will be paid in advance. The rent for year 1 will be paid at the beginning and hence shown in year 0. The rent for year 10 will be paid at the end of year 9 and hence  £150,000 cash is added back to the profits of year 10. The cumulative cash flows turn positive for the first time in year 5. Payback period = 4 + (160,000/190,000) = 4.84 years. The NPV of option 2 is  £623,000 and the IRR is 27.48%. IV. Analysis of results The ARR of option 1 is 20.83%. There is no benchmark available for comparison but it is significantly more than the cost of capital of 12% and hence the ARR method approves investment in option 1. The payback period is 5.68 years. Though the payback period is significantly lower than the 10-year life of the project, it does not meet the 5-year cut-off period set by the finance director. Hence, the investment in option 1 is not approved under the payback period method. The NPV of option 1 is very high and positive  £739,000. Purchase of the farm will increase the net value of the firm by  £739,000 over a period of 10 years and hence the investment is approved under the NPV method. Finally, the IRR of 19.43% is also higher than the cost of capital of 12% which again approves the purchase of firm. The ARR of option 2 is 63.33% which is substantially higher than the cost of capital of 12% and hence the ARR method approves investment in option 2. The payback period is 4.84 yea rs and it meets the 5-year cut-off period set by the finance director. The investment in option 2 is also approved under the payback period method. The NPV of option 2 is positive  £623,000. Option 2 is also approved under the NPV method. Finally, the IRR of 27.48% is also higher than the cost of capital of 12% which again approves the purchase of firm. Option 2 is preferred over option 1 by the ARR, payback period and IRR methods. However, the option 1 is preferred over option 2 by the NPV method because the NPV of option 1 is more than that of option 2. The difference results under the various investment appraisal methods are not unexpected. The ARR and payback period methods do not discount the future cash flows. This is a major drawback in this case as cash flows are spread over a long life of 10 years. Also, the cost of capital is a high 12% and not discounting the cash flows does not reflect the risk of the investment. In view of the above arguments, the results of the ARR and payback period methods should be viewed with caution. The NPV method favours option 1 as its NPV is  £116,000 higher than the NPV of option 2. However, option 1 uses higher initial investment and this is reflected in its IRR which is lower than that of option 2. The company should opt for option 1 as it adds the maximum net value to shareholders. However, if funding is restricted than option 1 should be preferred because it adds higher net value per unit of investment. The net value per unit investment is  £2.08 for option 2 as compared to  £0.49 for option 1. In addition to the above analysis, the investment decision should take into account few other but important points into consideration. Firstly, in the analysis of option 1, it was assumed that the farm will be sold for  £1,500,000 after 10 years. However, the prices of land and farms have increased in the recent years. The table below shows the sensitivity of the NPV to the changes in price of the farm. An annual farm price inflation of 6% over a 10-year period would substantially increase the NPV to  £1,121,000. This is a significant jump. Even if the annual farm price inflation is -2%, the NPV is still positive. On the other hand, the changes in farm prices would not have any impact on the NPV of option 2. The possible significant benefit from purchase of a farm should also be included in final decision making. Secondly, the evaluations are also sensitive to changes in cash flows. Projections are rarely met in practice (Arya et al., 1988, p. 499). It is difficult to accurately predict cash flows over a 10-year period because of a number of factors. The demand may change due to economic-wide changes. The costs of raw materials and labour may rise faster than anticipated. Adverse weather may also play havoc on the production. Hence, it is beneficial to do a sensitivity analysis of cash flows. It is assumed that the variable costs will move in direct proportion to the changes in revenues. The tables below show the sensitivity of the NPVs to changes in sales and variable costs. The above tables show that option 2 is more sensitive to the changes in sales and variable costs. At 80% of the base case sales and variables costs, the NPV of option 1 is significant positive but that of option 2 is marginally positive. The option 2 will turn into a negative NPV investment if actual cash flows are just less than 80% of the projected cash flows. Thirdly, the NPV is also sensitive to changes in the cost of capital. The tables below show the sensitivity of the NPVs of two options to changes in the cost of capital. Option 1 is more sensitive to changes in the cost of capital. The company should analyse the likely increases in the cost of capital over 10 years before making a final decision. In addition to the above-discussed points, the company should also analyse some of the key non-financial matters to ensure that the investment will yield positive results. It should analyse whether there would be local demand for organic foods in case of each option. Organic foods are sold at a premium to inorganic foods. The buying power of consumers is linked to the general overall economic conditions. The UK economy is passing through a tough phase with consumers concerned about government cuts in public expenditure. This may make it difficult for the company to sell its produce in the local region. The company should also consider the resources that would be involved in effective monitoring of the farm in the North as opposed to current operations in the South. Monitoring and control is important for success of an investment and long-distance could hamper it. V. Conclusions The results of four investment appraisal methods did not match and there is no unanimous choice. Option 2 is preferred on the basis of the ARR, payback period and IRR methods. Option 1 is the preferred option because of its higher NPV and the possibility to gain from an increase in farm prices. The NPVs of two options are also sensitive to a number of factors like cost of capital and changes in sales and variable costs. The NPV of option 2 is more sensitive to changes in cash flows whereas the NPV of option 1 is more sensitive to changes in the cost of capital. VI. Recommendations The recommended option is option 1 because of its higher NPV and also the potential to reap even higher benefits due to increase in value of farm over 10 years. If the project does not meet sales expectations, the company will have the option to sell the farm and exit early in option 1. On the other hand, the company will end up paying lease rent for 10 years in option 2. References Arya, A., Fellingham, J.C., and Glover, J.C., 1988. Capital budgeting: Some exceptions to the net present value rule. Issues in accounting education, Vol. 13, No. 3, pp. 499-508. Brigham, E.F., and Daves, P.R., 2009. Intermediate Financial Management. 10 edn. South-Western Cengage Learning. Brigham, E.F., and Houston, J.F., 2007. Fundamentals of financial management. 11 edn, Thomson Higher Education. Delaney, C.J., Rich, S.P., and Rose, J.T., 2008. Financing costs and NPV analysis in finance and real estate. Journal of Real Estate Portfolio Management, Vol. 14, Issue 1, pp. 35-40. Hansen, D.R., and Mowen, M.M., 2007. Managerial accounting, 8 edn. Thomson South-Western. Howe, K.M., 1992. Capital Budgeting Discount Rates Under Inflation: A Caveat. Financial Practice Education, Vol. 2, Issue 1, pp. 31-35. Kinney, M.R., Raiborn, C.A., 2011. Cost Accounting – Foundations and Evolutions. 8 edn, South-Western Cengage Learning, Mason.

Can You Cool a Room by Opening the Refrigerator

Can you cool a room by opening the refrigerator? It might be tempting to open the refrigerator door to cool off when its hot, but will it really help? The answer depends on a few different factors relating to your refrigerator. Use an Air Conditioner You can fan yourself with the door to cool yourself down, but you cant actually lower the temperature of the room. This is because refrigeration is not a perfectly efficient process. More heat enters the room through the exhaust vent than is extracted from the inside of the refrigerator. Now, if youre desperate to cool a room with the refrigerator, you can... but only if the refrigerator is off and youre using the chilled contents already inside the box, sort of like a giant ice cube. Alternatively, you can use a refrigerator to cool a room if the heat vents for the fridge are in a different room.

Summary Of Iris Marion Youngs Five Faces Of Oppression

In Iris Marion Young’s article Five Faces of Oppression, Young explicitly explains that there are five specific factors of oppression that affect many people in their day to day lives. Those five faces are exploitation, marginalization, powerlessness, cultural imperialism, and violence. Exploitation is the act towards the usage of labor of a specific social group to benefit another group. Marginalization is commonly the exclusion of people of a third world such as racially marked groups, unemployed, disabled, elderly, etc. Powerlessness is the concept how people of power often profit from the labor of others. Cultural imperialism is the idea of a dominant group becoming a norm of society thus making non-dominant groups behaviors as†¦show more content†¦This is why exploitation is a form of oppression because those who are exploited in the workplace, like sweatshops; are treated less than human. The second face of oppression, marginalization, is the exclusion of people of a third world such as racially marked groups, unemployed, disabled, elderly, etc. This kind of act usually assumes that a particular individual does not have certain traits or characteristics that make them equal within society. Individuals who are marginalized are often discriminated and even excluded from social gatherings and activities because some might think they are not qualified to attend. An example of marginalization is how a person with a disability like those who are paraplegic, often are secluded from any type of physical sports because some might think that they are not capable of being good at a physical sport, such as baseball, while you are paraplegic. Another example of marginalization is how women are not expected to be hired in executive or managerial positions because it is seen that the men are more dominant and powerful in order to obtain and withhold positions of such demand and leadership. Because of this assumption, women who might be more qualified in specific areas are often not considered for certain jobs with a higher standing because they are seen as less dominant than a man. The

Ethics In Advertising And Consumer Psychology

Question: Discuss about the Ethics In Advertising And Consumer Psychology. Answer: Literature Review It is the scholar paper which includes the current knowledge about the topic and also the contributions of different authors. This includes the data from secondary sources. Literature Review Scope The scope of this literature review is wide as it considers the works of different authors and is a part of the complete research. The research is done on Ethics in advertising and consumer psychology which is a wide topic and need to be covered properly. The basic idea of the research revolves around the role of ethics in advertising and consumer psychology. There are various views on the ethics in advertising and Consumer psychology which clears up the idea on the topic. Different authors have different opinion and viewpoints on Ethics in advertising and consumer psychology. Literature Review Objectives This literature review analyses the relationship between the ethics in advertising and consumer psychology. The main objective is to compare and contrast the contributions given by different authors on the topic. It will help the marketers and advertisers in designing their advertisements by considering ethics. Literature Review comparative analysis: Advertising Advertising is known as the non-personal paid form of communication which connects the consumer with the advertiser. The significance of advertising is increasing considerably in the modern society. It has great influence on the society and communities and shape their attitudes and behaviours. Advertising can be simple or can be complex. It can be commercial, political or in social form. So, advertising has to be real which do not distort the actual message of the communication. It has powerful impact on the society which creates a need of advertisements to be ethical. Ethics, on the other hand, are the principles which guide an individual to make a comparison and difference between rights or wrong (Schlegelmilch berseder, 2010). Consumer Behaviour According to Adhikary (2014), consumer behaviour is how the consumers take decisions to spend their resources wisely to make consumption. The consumers pass through five different stages before making any decision to make a final purchase. These stages include Need recognition, Information search, alternative evaluation, purchase decision and post purchase evaluation. Advertising plays a major role in influencing the individuals in making a final decision of purchase. Advertising basically influences the decision making processes of the consumers. The author reflects on the idea that it is the duty of the advertisers to communicate real information about the product or service so that it influences the consumer behaviour in the ethical way. Advertising, consumer psychology and Role of Ethics In the words of Gilaninia, Taleghani and Karimi (2013), Information and communication technologies have placed itself as a strong player in the world of advertising. It aims at connecting with the wide audience and tries various ways to attract the mass population. Various research studies shows that peoples attitudes and beliefs are used to evaluate the benefits of internet advertising. The consumers make their decisions after the proper analysis and this is how internet advertising works. Maintaining ethics in internet advertising is equally important because the brands often claim falsely on internet which is easily believed by the customers. Also, there are lot of issues on the internet like directing the user to the fake site or misleading them with the pop ups which is unethical. According to Fatima Lodhi (2015), advertisements and buying behaviour are connected. When advertisements create awareness and frame perception of the customers for the products or services, it influen cesthe buying behaviour of the customers. The consumers are motivated through advertisements which stimulate the sales of the product or services of the company. In the views of Suguna (2014), Unethical advertising or ethical advertising, more or less depends on the views or perceptions of the customers. The research conducted by the author and the data collected stated that ethics are needed in the society. These are the principles which bring favourable changes in the society. The study is reliable and valid as the data collected showed that negative, unethical or fake advertising dissatisfies the customers and the brand may lose the customers in the longer term. It is also dependent on the individual perception or group perceptions where the particular advertisement is ethical or unethical. As per Martin (2010), there are some ethical considerations which impact the buying behaviour of the consumers. As per the research conducted, over 60 per cent of people said that they consider ethics while purchasing clothes while 80% of them consider ethics while purchasing groceries. Window dressing the real facts can lead to the damage to the reputa tion of the company and can also lose its customers. In the views of Vlasceanu (2013), there are series of aspects which determine the advertisement and consumers psychology and influence the decision behaviour of the consumers. Consumers psychology is the study of the behaviour of consumers in relation to psychological, physiological and decisional perspectives. The advertise psychology suggests that the advertisement has a purpose, a message to convey and the success of the sales of the organisation depends on how well the advertisement elaborates its characteristics and features. The advertisements focus on triggering the emotions of the consumers so that the urge of buying the product or service arises. In order to get publicity the advertisements uses the content sometimes which is not acceptable by the society. In the views of author, the advertisements need to be made by keeping in mind the values and ethics which are acceptable by the society. The advertisements with erotic content and sexual appeal get more views and responses but have negative effects on society. These negative effects can be premature sexual behaviours, controversies and wrong effect on children. Some of the authors are of the view that the sexual advertisements are created for attracting more publicity but lacks in ethical and cultural behaviour. These types of advertisements are offensive. The advertisements are ethical when they fulfil their basic criteria that is informing the potential customers about the product or service and shaping the attitude of the customer towards the brand. But involving the offensive contents just to increase the attractiveness towards the advertisement is purely unethical (Nooh, 2012). In the views of Rodrigo (2012), it is believed that the consumer behaviour is influenced by different types of promotional techniques. Advertisements determine whether the customers will accept the product or reject it. The marketers uses different types of techniques through advertising which helps in them in grasping the maximum share of market. But the main issue is that how ethical these advertisements are and what effect they have on the psychology of consumers. The author focuses on how the company uses every possible technique to increase their sales through advertisements. These tactics may also include unethical ways which have negative effects on the society. It is seen in the research that some advertisements have emotional and negative attitudinal reaction by the untargeted customers and therefore the drop in the sales was seen. It is very important for the business organisations and advertisers to understand that what impact their advertisements can make on the customers . The impact can be positive or negative which is to be kept in mind for successful future business. The study shows that every customer has different perception towards every advertisement. The companies should try to fulfil the expectations of the potential customers ensuring that these customers have ethical perception towards the advertisements which do not let the sales of the company drop. Rodrigo (2012) explained that ethics of advertising is something which ensures that no harm would be produced to the society and consumers. There are many researches carried out which showcases the relationship between the ethics in advertisements and in the consumer psychology. On the other hand, Rosenthal (2014), in his article believes that many of the successful marketers use psychology so that they can appeal the consumers well. They use psychology so that they can make a place in the hearts and minds of the consumers. These marketers use legal, ethical and genuine content to engage customers and to compel them to make purchase of their products or services. The marketers use psychology to gain competitive advantage in the market and to feel closer to the customers. Many studies have shown that the marketers use emotions and psychological appeal to get engaged with the customers. They involve emotions and also sometime highlight the flaws so that the customer could connect to them because of their genuineness. The marketers focus on trying to make people important and work on their exclusive features. This is how the marketers take care about the psychology of the consumers and try to avoid the concepts which are unethical. In the views of Anastasia (2015), Business ethics is one of the most complex subjects and this is very tough to decide that what the ethical way to sell things is. The ethical consideration is an issue because the marketers do not consider what is right or wrong for the society. It is often realised that if the companies will focus on being more ethical in their advertising practices, it will give its positive effects on each and every area of the business. Ethical advertising is when the companies or marketers promote their products or services honestly and with fairness. It is very tough to decide what is ethical and what is not because it is a subjective judgement todecide about right or wrong. Ethical marketing have some principles which are the general guidelines to maintain ethics in the activities of the organisations. These principles include maintaining truth and honesty, maintaining personal ethics as well, transparency is maintained, the government rules and regulations ar e complied with and the customers privacy is not compromised (Anastasia, 2015). For maintaining strong relationships with the customers for the long term, the companies should focus on being ethical while designing the advertisements otherwise it will lead to failure. Ethical marketing directly appeals customers and have impact on the customers psychology. The customers feel valued and entire thing works positively for the company (Smart, Barman Gunasekera, 2010). Unethical advertising can be the one which is against laws, making false claims about the quality and features of the product or service, puffing up on products, unverified claims, exploiting children or women and making false comparisons with other brands. In support to the above views and thoughts, Sidhu, et al. (2015) believes that ethics in advertising plays a pivotal role in the success of the advertisement. Advertisement is like a vehicle which drives the psychological forces of a consumer to buy the particular product or service. But at times, the advertisements go beyond the fair line of true information and involve unethical practices with a view to attract most of the customers. Especially young population of the society are influenced by these unethical means. But for the culture and values of the society, the advertisements should be designed keeping in mind the ethical values. The companies have to follow some regulations and laws made by the countrys government for maintaining ethics in the advertisements ad to avoid any misleading activities. There are codes and guidelines given by Advertising Codes and Regulations (ACCC) which is to be followed by the advertisers (Australian Government, 2016). In the views of Singal Kamra (2012), the scope of advertising is huge and provides competitive advantage to the brands but looking at a global perspective, there are some regulatory requirements which look into the subject matter of advertisement and the meaning. For e.g. In Europe, the sponsorship for the children programs is not allowed under the age of twelve. It also clears that 5 minutes before and after children program cannot be aired on television. In UK, no advertisement of tobacco can be aired in television or placed at billboards. This shows that the advertisementregulatory look for the clear and faithful advertisements and does not allow any advertisement which is manipulating, misguiding and have misleading information. If advertisements affect the buying behaviour of the consumers by using incorrect means and methods, it is unethical. Ethics helps in proper guidance of the customers and also maintains trust and faith between the advertiser and the consumer. Quality and currency of the Literature source: Quality of paper The Quality of the literature sources is good and all the sources are relevant and genuinely referred. Most of the resources are the journal articles and online articles by the authors which provide accurate information on the topic. The document from Austrian governments website is also referred for considering the legal obligations. All the matter is valid and researched properly. The sources are referenced properly which shows that they are credible. Currency of paper All the sources which are considered in the literature review are published in or after the year 2010. The sources are latest and not out of date for the research on the topic. The latest articles are given more preference than the ones which are older. The sources considered present a clear and direct knowledge on the topic Ethics in advertising and consumer psychology. It is always best to use current sources for literature to increase the credibility of the literature. Validity and Reliability The information provided from the literature sources is reliable and valid. All the sources are genuine and are read carefully to answer the research question. The purpose of the information was to answer the research question which has been done effectively. Different articles are been considered in order to compare and contrast the views of different authors and that is why different articles are been referred so that the views of these authors can be compared. These contents are not firsthand but they all are original and verified. All the references are cited in the literature so that credibility can be maintained. Research gap contribution Research gap can be referred to the non answered research question. This is what helps in publishing the research. The contribution made in the research is through the study of different articles and analysing them for reach8ing the conclusion for the research. The research gaps are that what role ethics play in advertising and how it is related to the consumer psychology. The gap is between the understanding of the link between the advertising ethics and consumer psychology and how it can make business more effective. Conclusion of Literature Review It can be concluded that different authors have different views on the ethics in advertising and consumer psychology but collaboratively, all the authors agree on the maintenance of ethics in advertisements for restoration of the values and culture of the nation and to make their important place in the life of the consumers. Being genuine and honest will create goodwill for the advertiser in the market and people could feel connected with these brands. Unethical advertisements could provide short term benefits of attracting more number of customers and high sales but it is not suitable for longer term. In longer term, people avoid the false advertisers and unethical content. So, this shows that ethics plays a pivotal role in the advertisements and in making impact on the psychology of the customers. References Adhikary, A 2014, Advertising: A Fusion Process between Consumer and Product, Procedia Economics and Finance 11 ( 2014 ) 230 238. Anastasia, 2015, Social Responsibility Ethics in Marketing, Cleverism. Australian Government, 2016, Legal obligations of Marketing. Retrieved from https://www.business.gov.au/info/plan-and-start/develop-your-business-plans/marketing/legal-obligations-of-marketing. Drumwright, M E, 2012, Ethics and advertising theory, Advertising Theory, pp.463-479. Fatima, S Lodhi, S 2015, Impact of Advertisement on Buying Behaviours of the consumers: Study of Cosmetic Industry in Karachi City, International Journal of Management Sciences and Business Research, Vol-4, Issue 10. Gilaninia, S, Taleghani, M and Karimi, H 2013, Internet Advertising and Consumer Behavior in the Purchase of Products, Journal of Research and Development, Vol. 1, No.1. Martin, P 2010, Consumer attitudes and perceptions on sustainability, The Guardian. Nooh, M N 2012, Advertising ethics: A review,The Journal of Commerce,4(3), p.33. Rodrigo, 2012, Buying behavior, TV advertisements, ethical and unethical., the Write Pass Journal. Rosenthal, R 2014, 5 Psychological Tactics Marketers Use To Influence Consumer Behavior, Fast Company. Schlegelmilch, B B and berseder, M, 2010, Half a century of marketing ethics: Shifting perspectives and emerging trends, Journal of Business Ethics,93(1), pp.1-19. Sidhu, L S, Sharma, J, Shiny Shivani, 2015, Ethics in Advertising An Indian Perspective, International Advanced Research Journal in Science, Engineering and Technology, Vol. 2, Issue 5. Singal, R Kamra, G 2012, Ethical Issues in Advertising, International Journal of Engineering, Science and Metallurgy. Smart, V, Barman, T Gunasekera, N 2010, Incorporating ethics into strategy: developing sustainable business models, Chartered Institute of Management Accountants. Suguna, T 2014, Customers perceptions on Unethical Advertising- A study on Reliability and Validity, International Journal of Economic and Business Review, Vol-4, Issue 10. Vlasceanu, S 2013, Psychology of the consumers and the advertise in terms of factors that leads to consumers decision making, Romanian Journal of Experimental applied psychology. Vol. 4, Issue 1.