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The American Marketing Association defines a brand as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name." A brand can take many forms, including a name, sign, symbol, color combination or slogan. For example, Coca Cola is the name of a brand make by a particular company. The word branding began simply as a way to tell one person's cattle from another by means of a hot iron stamp. The word brand has continued to evolve to encompass identity — it affects the personality of a product, company or service. It is defined by a perception, good or bad, that your customers or prospects have about you. In the automotive industry, the terms marquee or make are often used to denote a brand of motor vehicle. A concept brand is a brand that is associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity. Got milk? Is an example of a commodity brand? Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and how it relates to key constituencies: customers, staff, partners, investors etc. Some people distinguish the psychological aspect, brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand, of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The brand experience is a brand's action perceived by a
person. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the company(ies) providing them. People engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand is therefore one of the most valuable elements in an advertising theme, as it demonstrates what the brand owner is able to offer in the marketplace. The art of creating and maintaining a brand is called brand management. Orientation of the whole organization towards its brand is called brand orientation. The brand orientation is developed in responsiveness to market intelligence. Careful brand management seeks to make the product or services relevant to the target audience. Brands should be seen as more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. Brand recognition is most successful when people can state a brand without being explicitly exposed to the company's name, but rather through visual signifiers like logos, slogan's, and colors. For example, Disney has been successful at branding with their particular script font (originally created for Walt Disney's "signature" logo), which it used in the logo for go.com. Consumers may look on branding as an important value added aspect of products or services, as it often serves to denote a certain attractive quality or characteristic (see also
store-branded product). branded products or services also command higher prices. . but one of the products has no associated branding (such as a generic. people may often select the more expensive branded product on the basis of the quality of the brand or the reputation of the brand owner. From the perspective of brand owners.brand promise). Where two products resemble each other.
a lack of viable alternatives. Brand loyalty is a result of consumer behavior and is affected by a person’s preferences. Customers may repurchase a brand due to situational constraints (such as vendor lock-in). This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices. or out of convenience.THEORY RELATED TO TOPIC The American Marketing Association defines brand loyalty as: 1. regardless of convenience or price. samples and free gifts). if Joe has brand loyalty to Company A . True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior. they may cost less to serve. or other positive behaviors such as word of mouth advocacy. however. be it is through loyalty programs (i.e. In a survey of nearly 200 senior marketing managers. Otherwise stated. Brand loyalty is more than simple repurchasing. Such loyalty is referred to as "spurious loyalty". When consumers become committed to your brand and make repeat purchases over time. brand loyalty. Companies will often use different marketing strategies to cultivate loyal customers. Loyal customers will consistently purchase products from their preferred brands. The situation in which a consumer generally buys the same manufactureroriginated product or service repeatedly over time rather than buying from multiple suppliers within the category (sales promotion definition). consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service. For example. 69 percent responded that they found the "loyalty" metric very useful. and can bring new customers to the firm. 2. in marketing. The degree to which a consumer consistently purchases the same brand within a product class (consumer behavior definition). rewards programs) or trials and incentives (ex.
Customers' perceived value. constantly looking for bargains or 'vanity prone'. 4. Philip Kotler.moving from one brand to another. again. . This claim had not been empirically tested until recently. Fred Reichheld. looking for something different). Brand loyalty is viewed as multidimensional construct. Switchers . Recent research found evidence that longer-term customers were indeed less sensitive to price increases. loyalty to the brand — in terms of consumer usage — is a key factor. and commitment are found to be the key influencing factors of brand loyalty. one of the most influential writers on brand loyalty. Hard-core Loyals . Among the benefits from brand loyalty — specifically. 3. Shifting Loyals . 2. customers' satisfaction. brand trust. however.with no loyalty (possibly 'deal-prone'.loyal to two or three brands.who buy the brand all the time. From the point of view of many marketers. Factors influencing brand loyalty It has been suggested that loyalty includes some degree of pre-dispositional commitment toward a brand. defines four patterns of behaviour: 1. Loyalty A second dimension. and brand trust. repeat purchase behaviour. It is determined by several distinct psychological processes and it entails multivariate measurements. longer tenure or staying as a customer for longer — was said to be lower sensitivity to price. is whether the customer is committed to the brand.he will purchase Company A's products even if Company B's are cheaper and/or of a higher quality. Split Loyals . Commitment and repeated purchase behaviour are considered as necessary conditions for brand loyalty followed by perceived value. claimed that enhancing customer loyalty could have dramatic effects on profitability. satisfaction.
The first is that those who are clear brand leaders are especially well placed in relation to their competitors and should want to further the inertia which lies behind that stable position. often because they simply want a change. The concept also emphasises the need for managing continuity. 'brand penetration' or 'brand share' reflects only a statistical chance that the majority of customers will buy that brand next time as part of a portfolio of brands they favour. Influencing the statistical probabilities facing a consumer choosing from a portfolio of preferred brands. compared with the — much simpler — one traditionally described of recruiting and holding dedicated customers. often over decades — sometimes centuries — rather than over months. This stability has two very important implications. Market inertia One of the most prominent features of many markets is their overall stability — or inertia. still demands a continuing pattern of minor changes to keep up with the marginal changes in consumer taste (which may be minor to the theorist but will still be crucial in terms of those consumers' purchasing patterns as markets do not favour the over-complacent). then of the London Business School said that consumers buy 'portfolios of brands'. is a very different role for a brand manager. which is required in this context. Portfolios of brands Andrew Ehrenberg.Industrial markets In industrial markets. They switch regularly between brands. This. It does not guarantee that they will stay loyal. organizations regard the 'heavy users' as 'major accounts' to be handled by senior sales personnel and even managers. in their essential characteristics they change very slowly. however. These . whereas the 'light users' may be handled by the general sales force or by a dealer. Thus. Thus.
to repurchase a brand continually. It occurs because the consumer perceives that the brand offers the right product features. and what type of factors influence these allegiances. Consumer behavior is habitual because habits are safe and familiar. Brand Loyalty's Influence on Consumer Behavior In today's highly competitive environments. and the environment must be constantly scanned for signs of these. or level of quality at the right price. help them acquire new habits. The new millennium is not just a new beginning.minor investments are a small price to pay for the long term profits which brand leaders usually enjoy. improving consumers' loyalty to brands permits marketers to maintain a comfortable and lasting position in the marketplace. Just because we have entered a new era does not mean we have to start from scratch when it comes to interpreting why certain consumers are loyal to certain brands. sudden changes can still occur. is that someone who wishes to overturn this stability and change the market (or significantly change one's position in it). massive investments must be expected to be made in order to succeed. The image surrounding a company's brand is the principal source of its competitive advantage and is therefore a valuable strategic asset. it is a continuation of trends in human behavior that have been following cyclical patterns throughout our country's history. Brand Loyalty is the consumer's conscious or unconscious decision. and reinforce those habits by reminding consumers of the value of their purchase and encourage them to continue purchasing those products in the future. In order to create brand loyalty. . Unfortunately. The second. expressed through intention or behavior. clear message that not only distinguishes their brand from the competitors'. Even though stability is the natural state of markets. The challenge for all brands is to avoid the pitfalls of portraying a muddled or negative image. many companies are not adept at disseminating a strong. but distinguishes it in a memorable and positive manner. image. advertisers must break consumer habits. and more important.
create a broad brand vision or identity that recognizes a brand as something greater than a set of attributes that can be imitated or surpassed. Here are six things to consider when building brand loyalty: . ―87% of businesses do not ask their customers for more business. That means you need to build brand loyalty among these customers.‖ That means existing customers are more profitable than new ones. a company should view its brand to be not just a product or service. Six Tips For Building Brand Loyalty They say the success of our businesses often depends on the frequency at which we keep in touch with our customers. You may be wondering who ―they‖ are.and instead. The good news is you can build brand loyalty for your company or your personal brand. A brand needs more than identity. A strong symbol or company logo can also help to generate brand loyalty by making it quickly identifiable. those mythical beings that impart wisdom on the rest of us. it needs a personality. In fact. but as an overall brand image that defines a company's philosophies. yet your customers are 3 times more likely to do business with you. Just like a person without attention-grabbing characteristics. In this case. a brand with no personality can easily be passed right over. the identity of ―they‖ is not as important – because ―they‖ are right! According to Jordan Media.
so I opted out. He hadn’t done anything wrong when we worked with him on our first home loan. and weren’t planning to do again for at least five years) and refinancing (at higher interest rates than we currently had). Sure. If his newsletter had been about home decorating. . or resolving disputes with neighbors. Keeping in touch doesn’t build brand loyalty on its own though. You see. I would have gladly stayed on the list. He constantly sent us information about purchasing a home (which we had already done. but the information he was sending wasn’t useful to us. Naturally. he should have thought about what we.Brand loyalty is not just about keeping in touch The mortgage broker who helped my husband and me purchase our house kept us on his email and direct mailing lists for 2 years after the closing. most unobtrusive way to stay connected to customers. One day. or changes in home insurance policies for my area. Instead. as new home owners. Social media lets customers connect with brands on the terms Sometimes social media is the best. because they can opt-in. my mortgage broker wasn’t thinking about anything more than keeping in touch with the customer so that the next time we needed a home loan. as opposed to constantly emailing or direct mailing them. needed. social media how lower response rates than email. I finally emailed him and asked to be removed from the lists. but it’s a better vehicle for building relationships that could be more profitable in the long run. he asked if he had done something wrong. he could help us.
It costs me energy to switch to another source for personal branding advice. Brand loyalty depends on high switching costs Creating higher switching costs is an easy way to keep customers from going to a competitor. They will come to you first.We live in a world of happenstance. Even if I only read a fraction of what he puts out. or even three months from now. tomorrow. He shares the best. they will remember that you give lots of coupons. I am not advocating that you take the same stance as the cell phone industry by any means. with exorbitant contract cancellation fees. but when they need the product or service you are offering. Your fans may not purchase today. take Dan Schawbel. How can you introduce switching costs to your personal brand? . I couldn’t stop following him on Twitter and Google Reader if I tried. but make sure you do it right! The most notorious industry for high switching costs is the cell phone industry. where we can’t constantly be monitoring everything relevant to us at all times. But I do think you can create high switching costs no matter what your product or service is. He is simply THE authority in personal branding. most comprehensive content about personal branding today. or share lots of useful and relevant information. We’re friends. or have lots of people who like your updates. I’m fairly up-to-date on what I need to be doing to manage my career in the social age. Social media is a better way to connect with customers because it keeps the brand at the top of their minds without bombarding them with so much information they opt out. That’s a switching cost. but even if we weren’t. For example.
the authors explain why one American in ten tells the other nine how to vote. where to eat. Here are some ideas: sharing coupons with fans and followers on certain social media accounts emailing special promotion codes to customers who purchase a certain amount hosting giveaways specifically for repeat customers celebrating a holiday like Alice is doing with Earth Day providing a special free report in your subscriber footer These programs also don’t have to be expensive. And why not? True fans want more of what you already have. Wouldn’t you like to get your products and services into the hands of these people? . as many companies do.Brand loyalty means rewarding your customers One easy way to create brand loyalty is a customer reward program. You can offer products and services you already have as incentives. The program doesn’t have to be anything fancy. Talkative brand loyalists are the most valuable asset any company can have In the book The Influentials. and what to buy.
you can create buzz and gain new customers. Louis put coupons for 15% off in the weekend paper. promotions. . and often are the best people to share their experiences with your company. It’s not enough just to have influencers. Their customers became accustomed to discounts. a percentage of your customers are already influencers in your category. and discounts. Those are merely vehicles to get your fan base talking or give your fan base a reason to stop back. This even gives customers more incentive to follow you on social media outlets. such as a gift card when you refer a friend. Brand loyalty is not just about discounts. you also need to give them a conversation starter and a place to have that conversation. and stopped purchasing anything at full price! Brand loyalty is not just about coupons. For example. every single weekend. many companies offer brand loyalty incentives.Well. One retail chain in St. it’s about training your fan base to visit regularly When companies continuously give coupons to their loyal customers. By giving your loyal customers reasons to talk about you. you just need to find them and activate them. If you plan to use discounts to create brand loyalty. it effectively lowers the price of the product. It’s not just about giving everything away for free on your blog. make sure your promotions are irregular and unpredictable. chances are. Your most loyal customers are your fan base.
of respondent 10 67 23 100 Percentage % 10 67 23 100 Age of respondent 80 70 60 50 40 30 20 10 0 Less than 20 years 20-30 years age group 30-40 years 10 23 No.Data Analysis & Interpretation 1] Age of the respondent. of respondent 67 Interpretation:From above graph it is seen that the age of respondent are between 20 to 30 years. Table No: 1 Age of respondent Less than 20 years 20-30 years 30-40 years Total Graph No: 1 No. .
of respondent. 2 Qualification SSC HSC Graduation Post. . Table No.2] Qualification of the Respondent. of respondent 3 20 53 20 5 100 Percentage % 3 20 53 20 5 100 qualification of respondent 60 50 40 No.graduation Other Total Graph No. 2 No. 30 5 20 10 0 SSC HSC Graduation qualification Postgraduation Other Interpretation:Above graph shows that most of respondent are graduate by education.
of respondent 32 40 10 10 0 8 100 Percentage % 32 40 10 10 0 8 100 Graph No: 3 No. of respondent 8% 10% 10% 32% Student Service Profession Businessmen Pensioner 40% Housewives Interpretation:Above graph shows that 50% respondent are of student and 22% & 13% are servicemen and profession as an occupation respectively. . Table No: 3 Occupation Student Service Profession Businessmen Pensioner Housewives Total No.3] Occupation of the Respondent.
.4] Brand trust. of respondent Interpretation:From above table & graph it is seen that 55% respondent have trust in brand & 25% respondent has not trust in brand & others are neutral. Table No: 4 Brand trust Strongly agree Disagree Neither disagree nor agree Total No. of respondent 55 25 20 Percentage% 55 25 20 100 100 Graph No: 4 Trust in Brand 60 50 40 30 20 10 0 Strongly agree Disagree Neither disagree nor agree No.
of respondent Percentage % 8 13 10 9 40 20 33 25 22 100 Ratio for Branded to unbranded 14 12 10 8 6 4 2 0 20-80 50:50:00 60:40:00 Other Ratio No. of respondent Interpretation:Above graph shows that 35% respondent said that the ratio of branded to unbranded is of 50:50 & 25% said that ratio is 60:40 in their house. .5] Proportion of Branded to unbranded Table No: 5 Proportion of Branded to un branded 20:80 50:50 60:40 Other Total Graph No: 5 No.
Table No: 6 Experiments with different Brands Yes No Sometime Total No.6] Experiments with different Brands. of respondent Percentage % 65 20 15 100 65 20 15 100 Graph No: 6 Experiment with different Brands 15% Yes 20% 65% No Sometime Interpretation:Above pie shows that 65% respondents experiment with different brands due to many reasons. .
7] Price of Brands. . of respondent 10 20 4 6 40 Percentage % 25 50 10 15 100 Graph No: 7 Prices of Branded product 15% 10% 50% 25% As per your expectation More than expectation Less than expectation Can’t say Interpretation:From above table & graph it is seen that 50% respondent says that the prices of branded product are more than their expectation & 25% says that prices of branded product as per their expectation & 15% says that prices are less than expectation. Table No: 7 Price of Brands As per your expectation More than expectation Less than expectation Can’t say Total No.
of respondent Mediums Interpretation:Above table & graph 55% respondents said that they know about branded product through the medium of television.8] Source of Product brand Information Table No: 8 Source of Product brand Information Family Members Peers TV ads Point of Sales Websites Total Graph No: 8 No. of respondent 10 10 47 13 20 100 Percentage % 10 10 47 13 20 100 Medium of information 50 40 30 20 10 0 No. .
of respondent Interpretation:Above graph shows that 40% respondent said that. . Table No: 9 Criteria To the tallest extent More than 80% 50-80% Less than 50% Can’t say Total Graph No: 9 No. of respondent 12 25 38 15 10 100 Percentage % 12 25 38 15 10 100 Extent of need 40 35 no.9] Needs meet by Branded product. of respondent 30 25 20 15 10 5 0 To the More 50-80% Less thanCan’t say tallest than 80% 50% extent No. branded product meets their needs up to 50 to 80 % & 30 % said that branded product meets their need more than 80%.
10 Market mix Rank Least low Average high Higher Total Product Price Place Promotion 5 6 5 5 10 20 10 15 22 45 20 15 23 20 30 20 40 9 35 45 100 100 100 100 Graph no. . Table no.10 Marketing mix 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10 5 Product 22 20 6 Price 20 10 5 23 45 30 20 15 15 5 40 20 9 35 45 Higher high Average low Least Place Promotion Interpretation: From above graph we can say that the rank of satisfaction for product. promotion is higher and for price is average so we can say that marketing mix is helpful in branding.10) Rank the satisfaction level of market mix for branded product. place.
11] Stick to product if increase the price. . of respondent Percentage % 55 15 30 100 55 15 30 100 stick to the product if price increase 30% 55% 15% Up to certain limit Yes No Interpretation:Above pie chart shows that 55% respondent stick to the product up to certain limit of increase in price & 30% respondent said that they did not stock if price increases. Table No: 11 Stick to product if increase the price Up to certain limit Yes No Total Graph No: 11 No.
Table No: 12 Help to build good brand image Quality Communication strategies Competitive pricing Good VAS Free samples & discount Other Total Graph No: 12 No. of respondent 53 15 12 10 10 0 100 Percentage % 53 15 12 10 10 0 100 Factor to build good image 10% 10% Quality Communication strategies 13% 52% Competitive pricing Good VAS 15% Free samples & discount Interpretation:From above graph we can say that quality is the most important factor to build image of brand. .12] View about Brand image matter while purchasing product.
Table No: 13 Brand image Agree Disagree Cannot say Total No.13] Brand image matter while purchasing product. but 20% said brand doesn’t matter while purchasing product. of respondent 65 20 15 100 Percentage % 65 20 15 100 Graph No: 13 Brand image matter while purchasing product 70 60 50 40 30 20 10 0 Agree Disagree view Cannot say No. . of respondent Interpretation:65% respondent said that brand image matter while purchasing product.
cotton king Clothes FMCG Cold drinks shoes Colgate. Brand image a lot while purchasing product Mostly used Branded product are Product Brands lee. Peps coca cola. .7 up Reebok. cotton Country. santoor. Raymond’s. siyaram. customer will look for another product. Nike. Lux. Adidas. dettol. leather. pepsodent.Findings & Suggestions Findings Most of the respondent having age between 20-30 & most of them are student & graduate by education Many respondent has trust in brand many Respondent experiment with different brands Prices of branded product is more than the customers’ expectations Rank of satisfaction level of market mix is higher Quality is most important factor to build image of the product Customer will purchase the branded product up to certain limit in price increase further increase in price. action. thumps-up. pro -voke.
sex. Company may use the marketing mix strategy for brand There is no compromise in quality in branded product . occupation.Suggestions Company may choose television medium for advertisement. Prices of branded product may be up to certain limit. Branded product may be as per age. and segment. Availability of branded product should be at various places.
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