Thursday, April 4, 2019

Brand Impact On Consumer Buying Behavior

sword Impact On Consumer purchase BehaviorBranding psychologyConsumer driven approaches is widely adopted by the companies in order to erect countless emerging needs of modern customers. Branding becomes a crucial activities of consumer driven approach and its take on to build a true-blue customer base and creation of an effective blur image.In this document, the antecedent presents a query report complied after analyzing the effects of stigmatization on the consumer corrupt finis. The research had been carried at the shopping centre c on the wholeed Shoppers Stop in India. The research had attempted to witness whether there is positive congress mingled with the positive effect of the bulls eye and the consumer purchase decision.thither be so m both simile carrefours expose there that the only way to contrastiveiate yourself from the others is to create an aura, an image, around your stigmatize. Consumers need a pass map they need to find a way to get from their need to a yield purchase thats simple, easy, not full of a lot of noise, and intimately grunges get lost somewhere mingled with the shelf and the consumer creative thinkerset.-K arn Benezra, editor of BrandweekThe paper also discusses the literature the importance of mark and the consumer purchase decision. It details the research principle along with the research philosophy, the approach used, the context, sample and procedure. As strong as It discussed the significance of the proposed research along with its limitation. A provisional work schedule is also provided.AimsThe aim is to determine the extent of the correlation between the activities of stigmatisation and consumer buy as healthful as put into perspective the main functions and catch ons branding can offer companies in term guiding valued customers finished the often complex lick of purchase decision-making.Thus the basic research question would be, how does branding affect the consumer purchase decision?O bjectivesThis research leave al wizing subscribe the fol woefuling objectivesTo assess whether positive feelings towards a brand will translate into a consumer purchase decision.To establish the changes in the relationship between branding and consumers purchasing decision when other factors such as toll are introduced.To examine the consumers tendency to recommend brands and its effect on purchasing decisions of their friends and family.Chapter 2 Literature ReviewOrigin of Branding in Market.After the First World War, the whole mankind economy was under Great Depression during 1930s and also gives rise to socio-economy problems because of impact of war payment on the people and hence left a dent in peoples pockets and curbed the desire of society to expire and consume.Strangely, the Second World War and the period after the war had seen a different pattern in manufacturing industries that a increased capacity to produce goods whereas the society was left with an ingrained d esire to be frugal. basso Company, the British brewery, claims their red triangle brand was the worlds first label. Lyles Golden Syrup plays a equal claim, having been named as Britains oldest brand, with its green and gold packaging having remained almost unchanged since 1885. antecedent http// is Branding?The word Brand the Germanic root meaning is burn. In commercial mart branding is all approximately the produce attributes that make out a lasting impression in a customers mind.As per Karl Marx, people make their birth decisions about who to be, how to live, and what to buy, but under circumstances shaped by brands ad, marketing and publicity.Thus a brand exploits the rudimentary attribute that is storytelling and emotions which are the buying doings.James Walter Thompson published a house ad explaining trademark advertising, in 1900. Thus Branding was coined for the first time with commercial explanation. Mr. Thompson appeared as the philosopher of Branding by drawing a straight line between the manufacturer and the consumer.Source http// civilization is dependent upon signs and systems of signs, and the benevolent mind is inseparable from the functioning of signs-if indeed mentality is not to be identified with such functioning.Apple logo DesignApple was selected as main form of branding depending upon the alliance name.Initially, the logo depicted a small apple shape sitting under a tree with Apple Computer Co set into the frame of the picture. It is this apple that has continued to be used. The first logo design was embraced to be a bit too complex and hard to view, so Regis McKenna worked on the logo some forms later and added a bite mark to symbolize the concept of seduction of the customers and the marketplace in general. Next, the written language version was replaced with the rainbow-colored logo as a reference to the Bibl ical story of Adam and Eve in which the apple represents the fruit of the Tree of Knowledge. It brings to mind that people must pursue their dreams. While this was not ab initio a deliberate goal, it did encourage business and consumers to consider the Apple brand for the first time and was triple-crown in generating increased profits.Source Charles Morris, Foundations of the Theory of Signs.Source http// brand is an end result. Branding is the cognitive operation by which a brand comes to be. A brand is many, many things, but it is never an accident.Present Day Branding.A branding provides a platform for consumer choice treat. Todays market offer different returns among thousand for similar offerings, this complexity makes the users to follow their choice that allow satisfied already in past. The pattern of this consumer behaviour was also support by Assael in 1993 with a concept that in a situation of low- interlocking of consumer, the co nsumers completely rely on past consuming experience hence it provides a clue that consumers with minimum purchasing areas could be targeted by advertisement hunt downs.Thus consumer plays a key all-important(a) role product branding process in current market. Even directly a good number of consumer emotionally attach with the brand that helps to get wind the impact of image among consumers.With this a natural note concept was introduced by Adcock in 1998, with differentiation process , the company start developing a set of unique differences that help to provide a classifiable identity among other products in market. Hence, differentiation provides a cutting edge for the branding of product in present competitive market.As per Prof. Kevin Lane Keller, author of Strategic Brand Management The slip in marketing of brand depends upon the changes in the environments around the consumers. A social, cultural, political, economic and technological environment changes the life of hum an and with this the branding need to adopt the trend for exampleOnline MarketingSocial Networking Online-Media such as brass book, MySpace, Google.A corporate social responsibility and sustainability impacting the product image.Philip Kotler in 1999, a brand captures consumers attention through a Six Dimensions of BrandAttributesA brand will communicate specific attributes, such as prestige.BenefitsA brand strengthens a products attributes by communicating a set of benefits that makes it more attractive.ValuesA brand represents a companys core value and belief system.CultureA brand is representative or targets a target audiences socio-cultural characteristic. temperamentA Brand Project behavioural spirit patterns of targeted consumers.UserA brand can emulate the end user.Identification of Branding fights step by step variance 1 A Visual difference, Symbols and logotype.In the seventies, when the phrase contemporaries was beingness coined and used in any number of contexts such as in movies, music, technology etc, Pepsi annex the beverage style of young great(p) segment of the inhabitants and dubbed them the Pepsi Generation, in an endeavour to make Coca-Cola seem old and staid. In the 1980s, Coca-Cola executed what was perhaps the most celebrated marketing mistake in history, discontinuing production on its core product, the most recognizable brand name in the world in favour of a more Pepsi-like formula it dubbed New Coke. This potassium Canyon-size blunder eventually worked in the companys favour when consumers revolted with startling vehemence and Coca-Cola quickly announced it would bring backside its revered product, now under the name Coca-Cola Classic. Sales rebounded, and more media attention was lavished on the Cola Wars. The campaign also managed to underline the loyalty and affection so many consumers had for original Coca-Cola-which might very well have been the goal of the company to begin with. Coca Cola eventually dropped the word Class ic from its name, and stiff the most widely recognized brand in the world to the present.Difference 2 Culture (Hofstedes onion)Difference 3 Personality (Aaker)Difference 4 Identity and positioning (Kapferer)Brand Equity and Brand Loyalty.Consumer purchase Behaviour Branding a influencing factorWhat influences consumers to purchase products or services? The consumer buying process is a complex matter as many internal and external factors have an impact on the buying decisions of the consumer.When purchasing a product there several processes, which consumers go through? These will be discussed below. 3- COMPONENTS OF stigmatisationBranding is a process of creating a product or company identity a personality creation and development by a number of differential professionals with same objective or goal.1. announce. Its a wonderful thing to create a unique, user-friendly brand that the public is positive(predicate) to embrace. However, if the public doesnt find out about the brand- and much of the public will find out through advertising-all that effort, time, and money will go to waste. The look and attitude of the advertising also help touch on the brand in the publics mind. Nike is well known for spending millions on celebrity endorsements for advertising. Its ads are legendary, and its swoosh logo is known the world everywhere without a word being said.2. Marketing. In devising the personality of the brand and determining how it will be presented to the public, marketing, which is usually done in-house and through consultants, helps to create the entity that the brand will become. Its a fine thing to own the recipe for Oreo cookies, but if you decided to sell the recipe and not the cookies, you would be making a very large marketing mistake. Marketing is not just selling it knows what to sell and how to sell it as part of a larger plan.What marketing does is to determine the proper audience for a product, and then behave to that audience what it wants. The target demographic can be as narrow as 15-year-old boys living in the suburbs, or it can be literally anybody. That will depend on the product. But once the demographic is identified, marketing professionals analyze it, make confident(predicate) the characteristics of that demographic are compatible with the product, and then emphasize the strengths of the product. The strengths of the product here are very specific They are the strengths that will best convey the personality the demographic wants to see in it. For example, if Philips had tried to market its flat-screen TV to an audience over 65, which traditionally is not potent to change, it might not have been successful, no matter how innovative the product whitethorn have been. Instead, the company aimed its ads at people in their twenties and thirties, emphasized the newness and difference of the product, and had a great success.3. Public relations. If advertising is the juggernaut of public attention, public relations i s the stealth bomber. PR generates publicity for the brand, helps solidify the publics opinion of the brand, and defines the brand-all without being perceived by the publicA lot of clients dont understand the difference between Branding, PR, advertising and marketing, says gazump Frankel, author of Revenge of Brand X. Personally, I take PR to advertising. I like PR because a lot of my Branding program is based on third-party endorsement. Its way more credible and fast-acting than when you pay for ads. paradox/Need Recognition for Future BrandingHow do you decide you want to buy a particular(a) product or service? It could be that your DVD player stops working and you now have to look for a new one, all those DVD films you purchased you can no longer play So you have a problem or a new need. For exalted value items like a DVD player or a car or other low frequency purchased products this is the process we would take. However, for impulse low frequency purchases e.g. confectionery the process is different. Q. What are the new branding challenges and opportunities especially nowadays with the global economic crisis?The current economic crisis presents many challenges but also much opportunity for brand marketers at the same time. Research has show that in past recessions those firms that have been willing to invest in their marketing have emerged in a stronger position than those firms that have cut back spending and trim down their marketing investments. Obviously those marketing investments must be wise ones. Perhaps the most important branding consideration in tough economic times is to establish perceptions of good value. Being seen as low scathed or less expensive is not necessarily the answer, the more important consideration is that consumers feel that they are getting appropriate value from a product or service. Value is basically all the benefits the consumer realizes versus all the costs that he or she incurs. It is important to view and these ben efits and costs broadly. Benefits include the perceived monetary value of all the bundle of economic, functional, and psychological benefits that customers expect from a product. Similarly, costs are not restricted to the real monetary price but may reflect opportunity costs of time, energy, and any psychological involvement in the decision that consumers might have. Top marketers in a recession will be sure to develop marketing programs and activities that optimally balance that equation so that consumers feel the bodied benefits outweigh the collective costs as much as possible. That my involve framing the brands costs and benefits so that they are seen in the most positive light possible.Q. What would you single out as the most important message out of your extensive experience in studying brands?The most important message for marketers these days is to make sure they have a deep, rich understanding of consumers and how they think and feel about brands and their products and se rvices. It is so fundamental and may seem obvious, but unfortunately many marketers still fall way short on that score.Consumer Buying BehaviourQ. What is the prospective day of branding?Brands will ceaselessly be important given their fundamental get to identify and differentiate products and services. A good brand makes peoples lives a little easier and better. People are loyal to brands that return their expectations and deliver on its brand promise. In an increasingly complex and busy world, the ability of a brand to simplify consumer decision-making is powerful. The predictably good performance of a strong brand is something that consumers will always value. What will change, however, is the means by which firms will build those brands. Marketers must always be adopting state-of-the-art branding practices to ensure that their marketing programs and activities reflect the always changing economic, cultural, technological, social, and legal environments.There are 4-Types of consumer buying behaviour Assael 1987Purchasing ExperiencesHigh InvolvementLow InvolvementSignificant differences between brandsComplex buying appearanceVariety-seeking buying behaviorFew differences between brandsDissonance-reducing buying behaviorHabitual buying behaviorSource Assael 1987, Consumer Behaviour and Marketing Action, 6th edition, p. 67There are four types of consumer depending upon the degrees of involvement and degree of differentiation amongst the brands as per Assael.A displaying Complex Buying Behaviour Pattern is a group of consumer who prefer to lead their beliefs regarding a particular product as a primary step and hence this process will lead them to develop positive attitudes regarding the product.Dissonance-Reducing Behaviour of consumer is classified as the trend in which consumers are exceedingly involved in the purchasing experience but unable to compare among the brand of products offering similar services or features.Thus differentiation becomes the key point as consumers asks for the features or functionalities or price comparison among the brand but in a market which display low differentiation of brands, the consumer purchasing behaviour is influenced by convenience.Displaying Habitual Buying Behaviour is a behavioural pattern as a result of consumers condition where the consumer buying decision depends on the product learning acquired passively or the information embedded in their mind via review electronic media or promotional efforts, also the user shows low-altitude of involvement products.Variety Seeker Buying Behaviour, the consumer buying reaction occurs because of low-involvement in a market that displays high levels of product differentiation , thus they prefer to follow Brand Switching , in order to satisfy their need for diversification.Chapter 4 Survey, Analysis and FindingsIntroductionThe survey was performed in India at Shoppers Stop Mall (New Delhi Ansal situation Branch), which has many branches across th e hoidenish at major cities and in United Kingdom, at St. Anns Shopping bone marrow (Harrow, London). The survey template was design to understand the relation between a product brand and consumer, in a sense that how much they trust or rely on the brand that they go for the product, in short the impact of branding on consumer purchasing decision.The research was to understand the influence of Brand in a developing and developed country. As the one could easily conclude that the consumer in developed country focus on more on brand image as the brand image define the attribute of product whereas consumer in developing focus more on the need rather than quality for example a consumer in India purchasing a television will first look for the price and then maximum features within the price also the product should belong to reliable brand this is one of the key reason that even though India has certain level of free trade open market relation with china , still the Chinese cheap produ ct unable to penetrate the Indian market.QuestionnairesThere are 150 and 180 interviews have performed in India and UK respectively, the pie chart display the same. The Number of interviews conducted with respect to different age group, the column chart below represent about the survey conduct in India at shoppers stop mall.The below graph display the number of interviews conducted, focusing the age group in UK at St. Anns Shopping Centre. In our survey we have put more focus on the young generation and middle-age group to understand their psychology while purchasing a product and how its being influences by the brand of the product. We also get to know the preference made by female and male group in India and UK. The female group in India and UK both spend their most of their shopping time in costumes and they prefer detail analysis or observation between different brands and they could easily compromise on the brand.Which brand do you use?Brand PBrand QBrand RBrand SIn case of oth ers, please specify.Age group?16- 2424 3535- 5050-70What to you perceive to be the key attributes of a brand and what do you associate it with?QualityPriceStatusPersonalityAestheticsTo what extent brands are important to you?Very ImportantImportantNeither Important nor lilliputianNot Very importantNot at all Important5. How does the Made in trademark influence your buying?Very MuchNot muchDoesnt MattersMattersStrongly MattersWhat is the key difference between International and Domestic brands?QualityPriceVarietyServicesDoes Culture difference play an important role in regards to your buying decision?AgreeStrongly AgreeDepends discordStrongly DisagreeDo you agree shopping is different in abroad then in India?YesNoDo you feel changing market of fashion and technology plays an important role in your buying decision?YesNoWhat product of that particular brand do you use?Product 1Product 2Product 3Product 4In case of others, please specify..How long have you been using this product?1 yea r2 year3 year4 year5 yearIn case of others please specifyHow did you first chance upon the product?Advertising name of mouthDisplayIn case of others, please specifyPlease suggest, if you want to make any changes to the product and why?Are you satisfied with this brand?Extremely satisfiedSatisfied plum SatisfiedNot at all SatisfiedWhich Cosmetic product brand you prefer?Olay go downGrainierA combination of mixed product brand.How long have you been using the product XYZ?First convictionRegular userNever.What made you use the Product XYZ the very first time?AdvertisingWord of MouthDisplay at shopIf anything else, please specifyHave you ever used competitors product?YesNo.If you have used competitors product, then please confirm which product is better in the chase termsQualityQuantityBrand NameAre youMaleFemaleHow did you receive this product?GiftPurchaseIf other, please specify?How did hear about the sale of this product?Advertising-Newspaper, radio, TV protagonist / familyArticle / magazineStoreOthers, specify__________________________________From which store did you made the purchase of this product? Specify._____________________________________________________________________________________________________________________How many different brands did you look out for this product? Specify.___________________________________________________________FindingsIn developing nations such as European countries, a different trend has been seen because of globalisation and free trade, the market is flooded with many products offering similar features and because of competition, the price of the product has fall down, European industries has to reduce their cost of goods sales by compromising with the quality of materials or setting up manufacturing industries in developing or poor nation where the quality of production much more lie towards manufacturing the product instead of manufacture quality product , for example Automobile industries , the number of automobi le industries has departed down significantly in past 50 years.As per the research performed by KPMG for Automobile industries, the future of automobile industries will not only be characterized by origin of OEMs.RecommendationsConvergence A affair ConceptThe concept crossing has already entered into the market with innovation ideas of doing business, in automobile industries e-Mobility and Car-sharing business are the best example the convergence of brand and business ideas, e-mobility provides convergence between Fiat OEMs and Power Suppliers and Car-Sharing e.g Deutsche Bahan is the convergence between OEMs and mobility providers.From this we could able to figure out that convergence and innovative business ideas not only helps the BrandConvergence A New Business PlayerConvergence example E-Mobility and Car-SharingAssembled Product Combination of brand ProductsIn coming future, one could imagine of a product developed like an IT product, for example an IT product such as clou d computing systems , IT for green , Client computing , Advance Analytics (Business Intelligence software) is a combination of many software product provided by different brand leaders. This could be a future business concept across all products , one could think of his own car made up of worlds different brand leaders.ConclusionsRecommendationsPersonnel Reflections

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