Project Report On Brand Equity Pdf
Brands have a large impact on the perceived risks consumers associatewith the consumer purchase decision-making process. Product features and its benefit is what influence consumer to prefer that particular product. The image surrounding a companys brand is the principal source of itscompetitive advantage and is therefore a valuable strategic asset. Retail outlet image and its location are important. Yet another economic risk consumer might consider, is the opportunitycost of seeking out alternative products, and should the selected one failto satisfy their needs and wants.
Apart from that, it also becomespossible for the marketing people to generate intelligence informationabout the brands popularity and also what people exactly want from thebrand owning company. Fashion brands need to pay more attention to this consumer segment as they are the future of the marketplace.
Thisproject is also a part of it. All have been profoundly instrumental in making theproject undertaken the source of knowledge providing all the supportand necessary guidance.
Thedevelopment of positive attitudes towards brands can lead to not only thesustaining of competitive advantage, but in the bettering of the financialhealth of a company. Which of the following fashion brands are you aware of? However, if brands aremismanaged, the results can be damaging. Consumer behavior is habitual because habits are safe andfamiliar. Sehiffman and Leslic lazan Kanuk.
One solution is jointdistribution or by adopting direct marketing. The domesticmarket too presents immense opportunities with consumer spending onthe rise and organized retailing growing. You just clipped your first slide!
This chapter also serves the purpose of justifying and authenticating theresearch procedures employed in order meet the set objectives andanswers the main research question of this Project. The aim of this report is to put into perspective the functional values of branding as well as assess its role in the consumer purchase decision-making process. The Report aimed at comprehensiveliterature review on branding, brand loyalty, brand awareness, brandequity and brand perceptions, cost accounting pdf free price sensitivity and willingness to pay. Richa Gupta for their extended support during the study and preparationof the report.
In the field of marketing, thebrand name plays an important role as it helps the people to promote thebrand name and its merits quite easily. They wouldhave to move towards a low-margin, volume-driven business. Leading brand enjoys some edge over others. It should be remembered that positioning is more a reflection of a product and that it stifles the rich meaning of the brand without taking into account all its potentialities.
The primaryadvantage of branding is that it is safeguarded from unlawful activitiesand at the same time, it is also a way of developing a good reputation inthe market. The consideration and development of brand equity is vital as itsbenefits are wide reaching. Using the financial perspective, one measures brand equity bydetermining how much more consumers are willing to pay in directrelation to the brand name.
Please check one box for each statement to indicate the extent to which you agree or disagree with each statement. Between the s and s, criminals were branded again literally as a form of punishment and identification.
Now customize the name of a clipboard to store your clips. Please check one box for each statement toindicate the extent to which you agree or disagree with eachstatement. This perspective operates under the assumption that the consumer hashad extensive experience with the product in question. The perception of brands is crucial to both the marketer and thecustomer. Perception is crucial in the decision-making process.
So according to their lifestyle andprofession, the buying behavior of people differs from one another. Raymondstepped in and acquired the brand. The following section of this literature review will seek to enlighten theimpact branding has on the consumer decision-making process.
A Study on Brand Equity and Media Efficiency MBA Project
Differential advantage allows companies toshowcase their offer in respects to other competitors in the samemarketplace. It has been found that the learning process discussed above acts as acatalyst in creating emotional and evaluating responses. Once consumers start topurchase product, others will vicariously learn from them.
Competition is likely to hot up and keep domestic players on their toes. Lifestyle is an indicator of how people live and express themselves on the basis of their activities, interests, and opinions.
Which of the following brands of Denim are you aware of? Importance of Branding in BusinessFrom the point of view of a business, the process of branding involvesmaking of a trademark and a good name. People can also have a personal brand. This is the most effective way to insure consumers positively perceive the brand and product.
Thismight cause the consumer to initiate complaint behavior and spreadnegative word-of-mouth concerning that particular product. Branding can be done for anything that can be promoted in theconsumers market, may it be a simple label, a family of products or anumbrella brand. Consumers form attitude towards a brand on the basis of their beliefs about the brand. It is not just aprocess of getting a trademark and logo, but it is process of evolving as awell reputed name on the market and field. Brands do notcompete in the product area but compete for the mind space of thecustomer.
The retail landscape is changing, and the traditional distribution strategyof apparel players is in for an overhaul. Needs and desires to be satisfied range from hunger and thirst to love, status, or even spiritual fulfillment. Companies should identify the requirements and pack commodities according to demand. Branding is an effective marketing strategy tool that has been used withfrequent success in the past. Figuring out which price point tooperate in is yet another challenge for an apparel maker.
Apart from that, schemes such as free gifts anddiscounts often boost the sales as the brand is an important icon of themarket. The advantage is that, people are bound to purchasethe new products out of curiosity.
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