Published on Feb 03, 2016
Results of a controlled experiment on the role of brand awareness in the consumer choice process showed that brand awareness was a dominant choice heuristic among awareness-group subjects. Subjects with no brand awareness tended to sample more brands and selected the high-quality brand on the final choice significantly more often than those with brand awareness.
Thus, when quality differences exist among competing brands, consumers may "pay a price" for employing simple choice heuristics such as brand awareness in the interest of economizing time and effort. However, building brand awareness is a viable strategy for advertising aimed at increasing brand-choice probabilities.
Brand awareness can be measured by showing a consumer the brand and asking whether or not they knew of it beforehand. However, in common market research practice a variety of recognition and recall measures of brand awareness are employed all of which test the brand name's association to a product category cue, this came about because most market research in the 20th Century was conducted by post or telephone, actually showing the brand to consumers usually required more expensive face-to-face interviews (until web-based interviews became possible). This has led many textbooks to conceptualize brand awareness simply as its measures, that is, knowledge that the brand is a member of a particular product category. Brand awareness consists of both brand recognition , which is the ability of consumers to confirm that they have previously been exposed to your brand, and brand recall , which reflects the ability of consumers to name your brand when given the product category, category need, or some other similar cue.
Aided awareness occurs when you show or read a list of brands and the person expresses familiarity with your brand only after they hear or see it.
Top-of-mind awareness occurs when you ask a person to name brands within a product category and your brand pops up first on the list.
Objectives of the Project
Primary objective: To research whether Brand awareness in Branded PC's affects the sales or helps the Retailer in making a sale.
The following point would be addressed:
1. Brand Awareness for Branded PC's in consumer minds.
2. Effect on sale.
Secondary objective: To research and see which Brand is ahead in "Top-of-the-Mind Awareness" among Branded PC's.
The Following points would be addressed:
To check which Brand enjoys the top spot in 'Top-of-the-mind' Brand Awareness.
Impact of the same on sales.
Scope of study
Is to check that does Brand Awareness among Branded PC's affects the sales or creates a specific image about the brand which helps the Brand in gaining an advantage over the competitors. As the Research Methodology used for this research would be Personal Interview or Telephonic Interviews of the Targeted Masses using a set of questionnaires designed to get the response which would help in achieving the objective of the research. The Limitations faced in this research would be that it would be constituted on the data gathered from an already decided Target audience, which would be very small (namely 30-50 consumers). Hence we would not be able to come to a strong recommendation as the number of the responses would be limited.
However, on the other hand the data gathered would be very accurate and not vague, which would help us come to conclusion which in turn will help us to reach the objective of this research. The importance of this market research would be, that it will help us to determine which computer Brands enjoy different benefits due to their Brand Awareness in the mind of the consumers. Our research work will help us define how does brand awareness helps the customer to pick or choose that specific brand and get a clear picture as in is Brand Awareness really important part of the marketing strategy or is it just a burden on the marketing system.
Brand awareness is an important way of promoting commodity-related products. This is because for these products, there are very few factors that differentiate one product from its competitors. Therefore, the product that maintains the highest brand awareness compared to its competitors will usually get the most sales, our research findings will help us in determining those factors.
We would also be able to gauge which brand enjoys the top spot in "Top-of-the-Mind Awareness" among Branded PC's Sources and Tools of Data Collection
The data collection phase of marketing research is generally the most expensive and themost prone to error. In the case of surveys, four major problem arise. Some respondents will not be at home and must be contacted again . Other respondents will refuse to cooperate. Still others will give biased or dishonest answers. Finally some interviewers will be biased or dishonest. Getting the right respondent is critical.
Analyze the Information
The next to last step in the process is to extract finding from the collected data. The researcher tabulates the data and develop frequency distribution. Averages and measures of dispersion are computed for the major variables. The researcher will also apply some advanced statistical techniques and decision models in the hope of discovering additional findings.
Present the Finding
As the last step, the researcher presents the findings. The researcher should present Finding that are relevant to the major marketing decisions facing management.
Make the Decision
A growing number of organizations are using a marketing decision support system to help their marketing managers make better marketing decisions.
In our research we would be using the Research Approach of 'Survey Research' with the help of the Research instrument in the form of 'Questionnaires' and the Contact Method used will be 'Personal Interview' . Data Analysis
As for growth verticals, education and e-governance were the hot segments for PC penetration and volumes. In an effort to drive volumes, vendors should adopt Brand Awareness by penetrating the consumer minds through different marketing channels and also by low-cost pricing policies in these sectors.
Top 5 Recommendations:
• Companies should use multiple marketing channels to create Brand Awareness among the targeted segments.
• Retailers should have through knowledge about the Brands and the products they deal in(sometimes retailers do not provide complete info about the product which in turn drives the customer to different brand and that creates a negative impact on the Top-of-the-mind Brand Awareness towards that product).
• Having Live Demos for the particular Brands which do not have enough Brand Awareness among the masses to make them aware what that Brand offers.
• Retailers should be aware which market audiences their Brands target and should focus all of their marketing strategies on the same.
• Companies should try and use low-cost pricing policies as cost-effectively as they can.