This paper explains a Brand Choice model using Multinomial Logistics Regression(MNL), Bayesian Inference and Markov Chain Monte Carlo (MCMC) Simulation method. The model enables a marketer to forecast probability of choosing a particular brand by a consumer at a purchase occasion. Three hundred and twenty households in one tier (Mumbai, Pune), two tier (Kolhapur, Nasik, Nagpur), and three tier (Parbhani, Latur, Amravati) cities/towns of Maharashtra participated in the survey. Data were collected on three leading detergent brands – Surf, Ariel and Rin. The basis for our brand choice model is the multinomial logistics regression which was then converted into a software program. The parameters of the model are then estimated with the help of WinBUGS (Windows Version for Bayesian Inference Using Gibbs Sampling) software that uses Bayesian Analysis and Markov Chain Monte Carlo method. The utility function in the model used five attributes – a dummy term for brand2 and brand3 each, price term giving the price in rupees, a “feature’ term (advertisement) that was “1” when the respondents were exposed to the advertisement between two purchases, otherwise a “0” was assigned, the promotion term taking values “1” or “0” when the product was specially promoted/not promoted. The calculated parameters are further used to estimate the probability for a brand which is priced at Rs. 55. A marketer can thus forecast the probability of purchase of a brand at different price levels.

Large format recession has been a growing international trend in corporate sector over the last decade, with companies. HRM strategies & innovations providing a wide selection of employees, employers, customers, suppliers etc. in all ranges. This paper outlines the transformation of HRM strategies and innovations in Asia. Beginning with its inception, the paper is progresses towards its various HRM functions like recruitment and selection of employee, training and development, compensation and benefits, growth of Human, communication, HR front office and competitive HRM strategies to establish and strengthen its presence in the whole Asia. This paper also highlights HRM strategies to counter intensified competition and external conditions like global economic recession, the resultant credit crunch and its impact on employee performance. Further aim of this research is to find out measurement of performance, challenging industrial and economic conditions, what are the growth options to ensure future growth sustenance and profitability?