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Brand Equity

Brand Equity



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Published by jitendra jaushik

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Published by: jitendra jaushik on May 16, 2010
Copyright:Attribution Non-commercial


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The term Brand Equity refers to the inherent in a well-known brand name fromcustomer perspective. Brand Equity is the added value bestowed on the product by the brand name.The research conducted revealed lot of insights about the branded petroleum fuels and itsmarket potential. The study on Brand equity emphasized a lot in knowing the Premium branded petroleum customers
This research is conducted behalf of India's first 91 Octane petrol
Xtra Premium
reinforced with Multifunctional Additives for,
 Super Mileage and Super Pick-up Enhances cleaning of engines Minimizes exhaust emissions Restores peak engine power and acceleration and Reduces maintenance cost…
Building Brand equity has become increasingly important for companies. BrandEquity is derived from many things including a reputation for Quality & high brandawareness, but the key element in the association that are evoked in the consumer by the brand name, symbol and packing. These associations can be ‘hard’ or functional (plant &machinery), as well as ‘soft’ or symbolic. Thus, just as people have individual personalities, brands too can develop personality like association if the advertising for these brands identifies and develops a consistent image that is reinforced overtime.Here research was conducted to know all about Indian Oil Xtra premium fuel, thatmight be helpful for the company to develop their strategy for the special brand called
Xtra premium.
The research conducted for the project work titled
“Brand equity of Indian Oil Xtrapremium fuel”
for the partial fulfillment of 4 sem MBA. The study was conducteddirectly on the field in the south zone of Bangalore. The primary data was collected fromspecific spots like petrol pumps, parking spots and near shopping malls. The studyrevealed many insights about the branded fuels and its acceptably in the market.Moreover the research conducted made me enable to know the petroleum and the oilsector markets and its challenges.In the present scenario a lot of close competitive branded fuels has made Indian Oil tointroduce premium fuels like Xtra premium and many innovative promotional activitieslike extra reward cards. The core objective of the study was to determine the brand equityof Xtra premium fuel from Indian Oil.The study is descriptive in nature. The purpose of descriptive research is to provide anaccurate snapshot of some components of 
, such as consumer awareness, brand quality, brand value, brand loyalty and brand potentiality of thecompany’s braded fuel called EXTRA PREMIUM. The principal survey options werequestionnaires and personal interviews.Research simply means a search for facts - answer to question and solution to problems.It is a purposive investigation. It seeks to find explanation to un-explained phenomenon,to clarify the doubtful facts and to correct the misconceived facts. The encyclopedia of social science defines research as “the manipulation of generalizing to expand, correct or verify knowledge”.
Research design is the detailed blue print used to guide a research towards itsobjectives. This is a part of marketing research. Marketing research is systematic design,collection, analysis and reporting data and finding relevant to a specific marketingsituations facing by the company.Marketing research is likely to provide a fuller appraisal of the brands strength;character and uniqueness than the brand owner may possess through his/her ownexperience and collection of anecdotes. It can certainly compare and contrast the brandwith competitors in an objective way.The primary focus of the study was to measure & assess consumer perception of different premium brands and preference over other premium brands along with specificdimensions of Brand Equity- brand loyalty, awareness, perceived quality and value. Theresearch design employed for the purpose of the study was directive in nature and asample survey was conducted for the purpose of the generation.
The term Brand Equity refers to the inherent in a well-known brand name fromcustomer perspective. Brand Equity is the added value bestowed on the product by the brand name. It can be conceptualized from the three different perspectives-At the firm level, it is the incremental cash flow arising from the use of the brand name.At the trade level, it is the leverage from the use of the brand name.At the consumer level, it occurs when the consumer is familiar with the brand and holdssome favorable, strong and unique associations in memory.

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