Clever Marketing for Luxury Goods in the Fashion Industry - Essay Example

5.3 Demographics The first portion of the questionnaire looked into the demographical information of the respondents of the study. The results with regard to the demographics of the respondents are summarized in Table 1(in Appendix B). It first looked into the number of years that the number of years by which the latter are working as members of the marketing industry within the luxury fashion industry. Seven respondents (11.7%) reported to have been in the luxury fashion industry for less than five years. Meanwhile, twenty two (36.7%) said that they have been employed by the said industry for five to six years. In the same manner, fifteen (25.0%) noted to have been working in such for seven to ten years. Finally, sixteen (26.7%) said that they are within the luxury fashion industry for more than ten years. Aside from determining the number of years that the respondents have stayed within the luxury fashion industry, the researcher also determined which among of the three groups being studied are they a member of. Since this research is aimed towards ensuring the proper representation of the three groups (LVMH, Gucci Group and Richemont), twenty respondents (33.3%) were obtained from each. These results are graphically presented in Table 2 (see Appendix B). 5.3.2. The Need for Members of the Luxury Fashion Industry for Marketing Strategies As established in the previous chapters of this study, the era wherein fashion was characterized as super exclusive and could only be afforded by the elite has ended (Agins, 2000). In fact, designers are now taking their cues from consumers from the mainstream and creativity has been channeled to the mass-marketing clothes. As a result, members of the industry were seen to have joined financial groups that have aided them in manufacturing, retailing, licensing, image making and financial support in order to ensure their survival during the era of intense competition. Taking this fact into consideration, the researcher seeks to determine the perceptions of the industry’s members in order to validate the different reasons with regard to their need of marketing strategies such as the abovementioned. In analyzing this need, the researcher, as stated, made use of four statements which the respondents rated based on their actual experience using a Likert-scale with 5 (strongly agree) being the highest and 1 (strongly disagree) as the lowest. The first statement is about the changes in the luxury fashion industry as brought about by changes in the demand; the following results were obtained: (1) twenty four (40.0%) strongly agreed; (2) thirty two (53.3%) agreed; and (3) four (6.7%) were neutral (refer to Table 3, in Appendix B for a tabular representation of these figures). These responses then produced a mean of 4.33 and a standard deviation of 0.60 showing that in general, the respondents relatively agreed with regard to the influence of the changes in the demand to their need for marketing strategies (see Table 7, Appendix B). The researcher also looked at whether the unprecedented growth of luxury goods had been the one of the reasons why the members of the industry have deemed the use of marketing strategies necessary. The following were the responses to this item: (1) thirty two (53.3%) strongly agreed, (2) twenty three (38.3%) agreed; and (3) only five (8.3%) were neutral (see Table 4, in Appendix B for a tabular representation of these figures). These responses then yielded a mean of 4.45 and a standard deviation of 0.65, thus revealing that in general, the respondents agreed with regard to the influence of the unprecedented growth of luxury goods to the luxury fashion industry’s need for marketing strategies that shift away from super exclusivity. The researcher also looked into the need for marketing strategies as brought about by contemporary designers’ reinforcement of the fashion association of luxury products. With regard to this item, the following were the responses obtained from the survey participants: (1) twenty four (40.0%) strongly agreed, (2) twenty one (35.0%) agreed; and finally, (3) fifteen (25.0%) were neutral (refer to Table 5, in Appendix B for a tabular representation of these figures). These responses then produced a mean of 4.15 and a standard deviation of 0.80, thus showing that the respondents relatively agree to the need for marketing strategies as brought about by the reinforcement of the fashion association made by contemporary designers (see Table 7, Appendix B). Finally, the researcher looked into the need for the marketing strategies as brought about by the rise of counterfeited products which prompted its members to reinforce their brand image in order to show their customers that these are indeed, of significant value (refer to Table 6, in Appendix B for a tabular representation of these figures). A mean of 4.83 and a standard deviation of 0.38 were then obtained from these responses, showing that the subjects agreed to the need for the members of the luxury fashion industry to reinstate the value of their products due to the rising number of counterfeited goods (see Table 7, Appendix B). 5.3.3. The Financial Group’s Ability to Enhance the Brand Image of Respondents This section then looked into the ability of the financial groups to enhance the brand image of the companies to which the respondents belong. This was taken into consideration due to the fact that these has been pointed out as the reasons why luxury goods shifted away from promises of super exclusivity and to strategies concerning mass marketing and retailing. Just like the previous section, five statements were rated by the respondents using the Likert-scale in order to analyze this. The first statement is concerned with the ability of the financial groups to provide the best technological innovation to the companies, thereby fueling their research and development which in turn, ensured the quality of their products. The following results were obtained: (1) twenty nine (48.3%) strongly agreed; (2) nineteen (31.7%) agreed; and lastly, twelve (20.0%) were neutral (see Table 8, Appendix B). These then produced a mean of 4.28 and a standard deviation of 0.78, showing that the respondents agreed that the financial groups were able to grant them research and development facilities that help them in ensuring the quality of their products (see Table 13, Appendix B). Aside from this, the researcher also looked into the ability of financial groups to stimulate creativity and innovation that leads to the further development of their products. The following were the results obtained by the researcher: (1) nineteen (31.7%) strongly agreed; (2) twenty four (40.0%) said they agree to this statement; and finally, (3) only seventeen (28.3%) were neutral (see Table 9, Appendix B). These then produced a mean of 4.03 and a standard deviation of 0.78, thus showing that the respondents generally agreed to this particular statement (see Table 13, Appendix B). The ability of the financial groups to ensure the quality of their products was also measured and the following responses were obtained: (1) twenty two (36.7%) strongly agreed; (2) twenty seven (45.0%) agreed; (3) seven (11.7%) were neutral; and finally, (4) four (6.7%) disagreed (see Table 10, Appendix B). These, in turn, produced a mean of 4.12 and a standard deviation of 0.86 thus reveal that the respondents agreed with regard to this particular benefit that they received from their connivance with financial support groups (see Table 13, Appendix B). The ability of the financial groups to help them with they layout and location of the stores, which is also of vital importance to the luxury fashion industry was also analyzed. The respondents reveal the following results: (1) thirty eight (63.3%) strongly agreed while (2) twenty two (36.7%) agreed (see Table 11, Appendix B). A mean of 4.63 and a standard deviation of 0.49 were also obtained thus showing that the respondents generally agree with regard to this statement (see Table 13, Appendix B). Finally, the researcher analyzed the perceptions of the respondents with regard to the ability of the financial groups to help them with the provision of quality customer service. The following responses were obtained: (1) twenty two (36.7%) strongly agreed; (2) thirty four (56.7%) agreed; and last, only four (6.7%) were neutral (see Table 12, Appendix B). These then produced a mean 4.83 and a standard deviation of 0.38, thus showing that the respondents agreed to the statement with regard to the ability of the groups to help them in providing quality customer service. 5.3.4. Over-all Capacity of Financial Groups to Enhance the Brand Image of its Members The researcher then looked into the over-all capacity of the financial groups to enhance the brand image of its members. This was analyzed through the use of a statement wherein the respondents were asked to base their actual experience through the use of a Likert-scale (5- very apparent being the highest and 1- weakly experienced the lowest). The following responses were then obtained: (1) forty seven participants (78.3%) said this was very apparent; and (2) thirteen (21.7%) said it was apparent (see Table 14, Appendix B). These then produced a mean of 4.78 and a standard deviation of 0.42, showing that the respondents, in general find the ability of financial groups to enhance the brand image of its members apparent in their experience (see Table 16, Appendix B). 5.3.5. The Ability of Financial Groups to Establish Brand Loyalty of Customers towards its Members Finally, the researcher also obtained the perceptions of the respondents with regard to the ability of the financial groups to establish the brand loyalty of customers towards its members. Similar to the previous section, this statement was also analyzed using the Likert-scale. The following, then were the results obtained by the researcher: (1) seventeen (28.3%) find this very apparent; (2) twenty seven (45.0%) said this was apparent; and (3) sixteen (26.7%) were neutral (see Table 15, Appendix B). These then produced a mean of 4.02 and a standard deviation of 0.75, thus showing that the respondents find the ability of financial groups to establish brand loyalty of customers towards its members apparent. The results discussed in 5.3.2. and 5.3.3. shall then be correlated with those presented in 5.3.4. and 5.3.5. in order to properly test the hypotheses. 5.4. Hypotheses Test: Correlation In order to test the hypotheses of this study, the researcher correlates the different reasons why members of the fashion luxury industry undertake marketing strategies and the actions undertaken by the financial groups with the over-all ability of the latter to enhance their brand image and their ability to ensure the brand loyalty of their customers toward their products. 5.4.1. The Need to Undertake Marketing Strategies and the Ability of Financial Groups to Enhance the Brand Image of its Members: A Correlational Research Table 1 (in Appendix C) shows the researcher’s conduction of Pearson’s Correlation in order to determine the relationship between the need of members of the luxury fashion industry to undertake marketing strategies as well as the ability of the financial groups to enhance the brand image of its members. At the 0.01 level (*), only the unprecedented growth of luxury goods was positively correlated with the ability of the financial groups to enhance the brand image of its members. On the other hand, no reason behind the adoption of marketing strategies recorded a positive correlation with the said ability regarding the enhancement of the brand image at the 0.05 level (**). 5.4.2. The Actions of Financial Groups and their Ability to Enhance the Brand Image of its Members: A Correlational Research Table 1 (in Appendix C) shows that no correlation was recorded between the actions of the financial groups and their ability to enhance the brand image of its members at the 0.01 level (*). However, only the ability of the group to provide the best technological innovation that fuels research and development to improve the quality of the product recorded to be positively correlated with the over all capability of the latter to enhance brand image at the 0.05 level (**). 5.4.3. The Need to Undertake Marketing Strategies and the Ability of Financial Groups to Guarantee Brand Loyalty of Customers towards its Members: A Correlational Research Table 2 (in Appendix C) also shows the researcher’s conduction of Pearson’s Correlation in order to analyze whether a link exists between the need to undertake marketing strategies as well as the ability of financial groups to guarantee the brand loyalty of customers. Apparently, only the unprecedented growth of luxury products was seen to be positively correlated at the 0.01 level (*). On the other hand, no positive correlation was recorded at the 0.02 level (**). 5.4.4. The Actions of Financial Groups and their Ability to Guarantee the Brand Loyalty of Customers towards its Members: A Correlational Research Table 2 (in Appendix C) then shows that at the 0.01 level (*) and 0.05 level (**) no actions of financial groups are positively correlated with their ability to guarantee the brand loyalty of the customers toward their members. 5.5. Content Analysis As previously mentioned, the researcher employs the use of content analysis in order to examine the vision, mission and strategies of LVMH, Gucci and Richemont which help in determining the current status of the luxury fashion industry as well as the manner by which they conduct their businesses, a shift away from their super-exclusivity. 5.5.1. LVMH Group: Moet Hennessy, Louis Vuitton The LVMH Group is the world leader in luxury. It basically has over sixty prestigious brands in its portfolio and currently operates in five different sectors; these are: (1) wine and spirits; (2) fashion and leather goods (3) perfumes and cosmetics; (4) watches and jewelry; and finally, (5) selective retaining (LVMH, 2008; Thomas, 2007; Gooderham and Nordhaug, 2003; Twitchell, 2002). The LVMH group is most notable for its brand development strategy and the expansion of its international network which is considered to be the reason behind its dynamism. The mission of this group is to ensure the representation of the most refined qualities of the so-called Art de Vivre around the world (LVMH, 2008). It seeks to continue the embodiment of elegance and creativity. It is in line with this then that they give utmost importance to the following priorities: (1) creativity and innovation, (2) the aim for product excellence; (3) the bolstering of the image of their products with passionate determination; (4) their role as entrepreneurs; and (5) the strive to become the best in all that they do (LVMH, 2008). In lieu with the priority they have given to creativity and innovation, the member companies of the LVMH group show determination in order to nurture and develop their creative resources. Basically, it is through their combination of creativity and technological innovation that they have become relatively successful (LVMH, 2008 Gooderham and Nordhaug, 2003). This is because of the importance they have given to attracting the best creative talents and encouraging them to produce remarkable designs that become central to the survival of their group. In the same manner, they also ensure the advancement of their equipment in order to aid their research and development teams, thereby ensuring the quality of their products (Twitchell, 2002; Thomas, 2007). The group has also produced strategies in order to achieve their aim towards product excellence. Basically, their members pay close attention to every detail to guarantee the products’ perfection. In fact, the group continues to ensure that the products they produce embody the nobility and perfection of a traditional craftsmanship (Twitchell, 2002; Thomas, 2007; LVMH, 2008). It is then in this regard that they also focus not just on the products but the layout and location of their stores, in order to ensure that their customers only experience quality from them. The LVMH group also dedicates itself to the enhancement of their member brands. It is because of this that they strictly control every detail of the brand, including the manner by which they advertise them to the public (LVMH, 2008; Thomas, 2007). Aside from this, another strategy employed by the company is their possession of entrepreneurial executive teams in each company in order to ensure that values of hard work, pragmatism, efficiency and the ability to motivate people are embedded in each employee to meet the goals of the company. Finally, as stated in their website, LVMH strives to be the best in all that they do (LVMH, 2008). As a result, they state that it is a part of their strategy that they always ensure the constant improvement of their brands and products. 5.5.2. Gucci Group The Gucci Group, like LVMH is also one of the leaders in the luxury fashion industry. It also makes use of a clear brand strategy as well as different initiatives that contribute to their competitive advantage (Gucci Group, 2006; Thomas, 2007; Bruce, Moore and Birtwistle, 2004; Tungate, 2005). Generally, the group was able to develop and strengthen their brand portfolio, the range of their products and their geographical presence worldwide which are then attributed to their success. Basically the group employs successful creative talents in order to ensure the design of their products (Gucci Group, 2006; Bruce, Moore and Birtwistle, 2004). 5.5.3. Richemont Group The third and last group that this research seeks to study is the Richemont Group. It basically operates in five specific areas: (1) jewelry, (2) watches, (3) writing instruments, (4) leather and accessories; and finally, (5) clothing (Richemont, 2009; Thomas, 2007; Chevalier and Mazzalovo, 2008). One of the main strategies employed by this group is to ensure that shareholders obtain growing value over the long term. In the same way, they also recognize the Maisons as the most important assets of their group (Richemont, 2009). Hence, the recognition of this distinct culture has been central to the development of their products through reinvention and innovation. 5.6. Conclusion of Findings The abovementioned findings obtained by the researcher through the use of surveys as well as the analysis of the official websites of LVMH, Gucci and Richemont, all point out to the changes made with regard to the structure of the luxury fashion industry. Without a doubt, this particular industry has encountered changes in demand. In the same manner, the results all prove one thing: that the luxury fashion industry is no longer characterized by having stores that are run by one man or one woman. Rather, it has become involved in mass-marketing and retailing with the rise of groups that help designers with marketing especially in areas of licensing, financing, retailing and brand imaging. The responses of those people employed by the marketing department of those companies who are part of the three groups all reveal that there is indeed a need for them to have marketing strategies. In the same manner, they further note that their membership in their groups is essential in order to ensure their brand image as well as to establish brand loyalty amongst their customers. On the other hand, the websites that had been analyzed by the researcher point to the fact that these financial groups have recognized the importance to dominate not just one aspect of the industry (i.e. clothing) in order to ensure their success. Hence, these groups boast of their presence in different industries such as clothing, perfume and cosmetics, jewelry, wines and liquors, and the like. These groups also further note of the importance of developing the quality of their products to ensure the survival of their brands despite the presence of intense competition. CHAPTER 6: DISCUSSIONS AND CONCLUSIONS 6.1. Research Conclusions Reiterated throughout this research was the luxury fashion industry’s shift away from super exclusivity to reliance on marketing strategies. In the same manner, this research also focused on the rise of financial groups that help members of the industry with retailing, mass-marketing, brand enhancement and the like. Basically, the research was able to successfully meet its five objectives. First, it was able to look into the so-called concept of clever marketing as well as the implications and impacts that it has provided for the luxury fashion industry. With regard to this particular objective, this dissertation was able to point out the tendency of luxury brands to establish financial groups that could help in keeping the brand alive. More or less, these brands aim to make themselves present in almost every sector. LVMH, for example is present in five sectors, including wines and spirits, perfumes and cosmetics, fashion and leather goods, watches and jewelry and lastly, selective retailing. Their continued presence in many sectors allow these financial groups to target the masses through the introduction of affordable accessories considering the fact that not all people may be able to afford their products that are priced at very high levels. In the same manner, these groups involve themselves in brand enhancement and imaging efforts in order to ensure the proper marketing of their products that may lead to profitability for it could somehow reach the psychological aspects of their patrons, thus leading to brand loyalty. The second objective met by the researcher was concerned with the examination of the brands’ strategies in order to target mass markets through the sale of accessories and perfumes. As previously stated, financial groups make themselves dominant in every sector possible in order to reach more customers who otherwise would not have the means to purchase their products whose prices never mark down. In the same manner, the research was also able to point out the effects of the marketing strategies to the members of the groups. As stated, this was supposed to enhance their brand image and the brand loyalty of their customers. Nonetheless, the correlational research proved the opposite by clearly stating that no correlation exists between the image enhancement and brand loyalty with the different strategies employed by financial groups from the perspective of the respondents. The researcher was also able to examine the strategies and visions for success of three financial groups (LVMH, Gucci and Richemont). Of these three, it is the LVMH who is considered to be the most successful. This is because of, as the examination performed by the researcher revealed, their ability to focus on the brand enhancement of their companies. In fact, it is basically because of this that their customers tend to be loyal to their products, thus coming back for more transactions. Finally, the research was able to point out how marketing can change the future of the luxury fashion industry. Apparently, this research has proven the fact that luxury fashion industry must continue to appeal to the psychological aspect of the customers through brand enhancement. It is then through this that they will gain sustainability, competitive advantage and of course, profitability. 1.2. Managerial Implications and Recommendations 1.3. This research was able to point out how brand imaging and enhancement can eventually lead to successes for members of the high fashion industry. Considering the ability of luxury fashion to appeal to the psychological senses of its patrons, the researcher believes that it is through this that the marketing strategies of its members should be firmly anchored upon. Market researcher must then be able to determine the importance of considering the need for brand imaging and enhancement in order to ensure sustainability, profitability and competitive advantage for the companies whether inside or outside the luxury fashion industry. 6.3. Limitations and Further Research One of the limitations of this study is seen on its inability to determine the differences between the perceptions of customers to the brands being studied. In the same manner, it also failed to look into the other members of the luxury fashion industry aside from the three groups examined (LVMH, Gucci and Richemont). Moreover, it also was not able to touch on the branding aspect form the perspective of the customers. 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THE NEED FOR MEMBERS OF THE LUXURY FASHION INDUSTRY FOR MARKETING STRATEGIES 1. On a scale of 1-5, with 5 being the highest (strongly agree) and 1 (strongly disagree), the lowest, rate the following statements with regard to your company’s need for marketing strategies. a. The change of the luxury fashion industry has changed due to demand Actual Experience 5 Strongly Agree 4 Agree 3 Neutral 2 Disagree 1 Strongly Disagree b. Luxury goods have shown an unprecedented growth Actual Experience 5 Strongly Agree 4 Agree 3 Neutral 2 Disagree 1 Strongly Disagree c. Contemporary designers have reinforced the fashion association of luxury products Actual Experience 5 Strongly Agree 4 Agree 3 Neutral 2 Disagree 1 Strongly Disagree d. The rise of counterfeited products prompted members of the luxury fashion industry to reinforce their brand image, to show that their products’ value are reinforced Actual Experience 5 Strongly Agree 4 Agree 3 Neutral 2 Disagree 1 Strongly Disagree 2. On a scale of 1-5, with 5 being the highest (very apparent) and 1 (not experienced at all), the lowest, rate the following statements with regard to the ability of the financial group to which you belong to in enhancing your brand image. a. They provide the best technological innovation that fuels our research and development, thereby ensuring the quality of our product Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All b. They stimulate creativity and innovation which is important to our products Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All c. The quality of our product is ensured Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All d. The layout and location of our stores, which is important to the luxury fashion industry, has been taken cared of Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All e. The provision of quality customer service Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All C. PLEASE RATE THE OVER ALL CAPACITY OF YOUR GROUP MEMBERSHIP TO ENHANCE THE POWER OF YOUR BRANDS Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All WAS THE FINANCIAL GROUP HELPFUL IN TERMS OF ESTABLISHING THE BRAND LOYALTY OF YOUR CUSTOMERS? Actual Experience 5 Very Apparent 4 Apparent 3 Neutral 2 Weakly Experienced 1 Not Experienced at All APPENDIX B. RESULTS Table 1. A Frequency Percent Valid Percent Cumulative Percent Valid 1.00 7 11.7 11.7 11.7 2.00 22 36.7 36.7 48.3 3.00 15 25.0 25.0 73.3 4.00 16 26.7 26.7 100.0 Total 60 100.0 100.0 Table 2. B Frequency Percent Valid Percent Cumulative Percent Valid 1.00 20 33.3 33.3 33.3 2.00 20 33.3 33.3 66.7 3.00 20 33.3 33.3 100.0 Total 60 100.0 100.0 Table 3. MarkI Frequency Percent Valid Percent Cumulative Percent Valid 3.00 4 6.7 6.7 6.7 4.00 32 53.3 53.3 60.0 5.00 24 40.0 40.0 100.0 Total 60 100.0 100.0 Table 4. MarkII Frequency Percent Valid Percent Cumulative Percent Valid 3.00 5 8.3 8.3 8.3 4.00 23 38.3 38.3 46.7 5.00 32 53.3 53.3 100.0 Total 60 100.0 100.0 Table 5. MarkIII Frequency Percent Valid Percent Cumulative Percent Valid 3.00 15 25.0 25.0 25.0 4.00 21 35.0 35.0 60.0 5.00 24 40.0 40.0 100.0 Total 60 100.0 100.0 Table 6. MarkIV Frequency Percent Valid Percent Cumulative Percent Valid 4.00 10 16.7 16.7 16.7 5.00 50 83.3 83.3 100.0 Total 60 100.0 100.0 Table 7. FinI Frequency Percent Valid Percent Cumulative Percent Valid 3.00 12 20.0 20.0 20.0 4.00 19 31.7 31.7 51.7 5.00 29 48.3 48.3 100.0 Total 60 100.0 100.0 Table 8. FinII Frequency Percent Valid Percent Cumulative Percent Valid 3.00 17 28.3 28.3 28.3 4.00 24 40.0 40.0 68.3 5.00 19 31.7 31.7 100.0 Total 60 100.0 100.0 Table 9. FinIII Frequency Percent Valid Percent Cumulative Percent Valid 2.00 4 6.7 6.7 6.7 3.00 7 11.7 11.7 18.3 4.00 27 45.0 45.0 63.3 5.00 22 36.7 36.7 100.0 Total 60 100.0 100.0 Table 10. FinIV Frequency Percent Valid Percent Cumulative Percent Valid 4.00 22 36.7 36.7 36.7 5.00 38 63.3 63.3 100.0 Total 60 100.0 100.0 Table 11. FinV Frequency Percent Valid Percent Cumulative Percent Valid 3.00 4 6.7 6.7 6.7 4.00 34 56.7 56.7 63.3 5.00 22 36.7 36.7 100.0 Total 60 100.0 100.0 Table 12. OverI Frequency Percent Valid Percent Cumulative Percent Valid 4.00 13 21.7 21.7 21.7 5.00 47 78.3 78.3 100.0 Total 60 100.0 100.0 Table 13. OverII Frequency Percent Valid Percent Cumulative Percent Valid 3.00 16 26.7 26.7 26.7 4.00 27 45.0 45.0 71.7 5.00 17 28.3 28.3 100.0 Total 60 100.0 100.0 Table 14. Descriptive Statistics N Minimum Maximum Mean Std. Deviation MarkI 60 3.00 5.00 4.3333 .60132 MarkII 60 3.00 5.00 4.4500 .64899 MarkIII 60 3.00 5.00 4.1500 .79883 MarkIV 60 4.00 5.00 4.8333 .37582 Valid N (listwise) 60 Table 15. Descriptive Statistics N Minimum Maximum Mean Std. Deviation FinI 60 3.00 5.00 4.2833 .78312 FinII 60 3.00 5.00 4.0333 .78041 FinIII 60 2.00 5.00 4.1167 .86537 FinIV 60 4.00 5.00 4.6333 .48596 FinV 60 3.00 5.00 4.3000 .59089 Valid N (listwise) 60 Table 16. Descriptive Statistics N Minimum Maximum Mean Std. Deviation OverI 60 4.00 5.00 4.7833 .41545 OverII 60 3.00 5.00 4.0167 .74769 Valid N (listwise) 60 APPENDIX C. CORRELATIONAL RESEARCH Table 1. OverI MarkI Pearson Correlation -.045 Sig. (2-tailed) .731 N 60 MarkII Pearson Correlation .305(*) Sig. (2-tailed) .018 N 60 MarkIII Pearson Correlation -.003 Sig. (2-tailed) .985 N 60 MarkIV Pearson Correlation .199 Sig. (2-tailed) .127 N 60 FinI Pearson Correlation .452(**) Sig. (2-tailed) .000 N 60 FinII Pearson Correlation .075 Sig. (2-tailed) .569 N 60 FinIII Pearson Correlation -.164 Sig. (2-tailed) .210 N 60 FinIV Pearson Correlation .104 Sig. (2-tailed) .431 N 60 FinV Pearson Correlation -.145 Sig. (2-tailed) .269 N 60 OverI Pearson Correlation 1 Sig. (2-tailed) N 60 * Correlation is significant at the 0.05 level (2-tailed). ** Correlation is significant at the 0.01 level (2-tailed). \ Table 2. OverII MarkI Pearson Correlation .063 Sig. (2-tailed) .633 N 60 MarkII Pearson Correlation -.295(*) Sig. (2-tailed) .022 N 60 MarkIII Pearson Correlation -.203 Sig. (2-tailed) .120 N 60 MarkIV Pearson Correlation -.231 Sig. (2-tailed) .075 N 60 FinI Pearson Correlation -.153 Sig. (2-tailed) .243 N 60 FinII Pearson Correlation -.088 Sig. (2-tailed) .503 N 60 FinIII Pearson Correlation -.108 Sig. (2-tailed) .412 N 60 FinIV Pearson Correlation -.030 Sig. (2-tailed) .823 N 60 FinV Pearson Correlation .219 Sig. (2-tailed) .093 N 60 OverII Pearson Correlation 1 Sig. (2-tailed) N 60 * Correlation is significant at the 0.05 level (2-tailed). ** Correlation is significant at the 0.01 level (2-tailed). Read More