Affect of Branding on Consumer Purchase Decision

MBA Business Marketing Dissertation Ideas, Economics Projects Topics Thesis Ideas and Abstracts in PDF, DOC, PPT

Affect of Branding on Consumer Purchase Decision

Postby Anup V » Tue Aug 07, 2012 11:21 pm

Brand recognition and other reactions are created by the use of the product or service and through the influence of advertising, design, and media commentary. A brand is a symbolic embodiment of all the information connected to the product and serves to create associations and expectations around it. A brand often includes a logo, fonts, color schemes, symbols, and sound, which may be developed to represent implicit values, ideas, and even personality. Brand equity measures the total value of the brand to the brand owner, and reflects the extent of brand franchise. The term brand name is often used interchangeably with "brand", although it is more correctly used to specifically denote written or spoken linguistic elements of a brand. In this context a "brand name" constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services. A brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration.

Marketers 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 image may be developed by attributing a "personality" to or associating an "image" with a product or service, whereby the personality or image is "branded" into the consciousness of consumers. A brand is therefore one of the most valuable elements in an advertising theme. The art of creating and maintaining a brand is called brand management. 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. One goal in brand recognition is the identification of a brand without the name of the company present. 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. "DNA" refers to the unique attributes, essence, purpose, or profile of a brand and, therefore, a company. The term is borrowed from the biological DNA, the molecular "blueprint" or genetic profile of an organism which determines its unique characteristics

Objectives

Primary Objectives

The main objective of research is to analysis how the brand effects the customer purchasing decision in FMCG goods and durable goods

Secondary Objectives

The sub objective of research is to understand the choice of the customer is branded or non-branded goods

Branding can be viewed as a tool to position a product or a service with a consistent image of quality and value for money to ensure the development of a recurring preference by the customer. It is common knowledge that the consumer's choice is influenced by many surrogates of which the simplest one is a brand name. Although there may be equally satisfying products, the consumer when satisfied with some brand does not want to spend additional effort to evaluate the other alternative choices. Once he or she has liked a particular brand, he or she tends to stay with it, unless there is a steep rise in the price or a discernible better quality product comes to his/her knowledge, which prompts the consumer to switch the brand.

Companies spend a lot of money and time on the branding and thus it needs a careful evaluation on the effect of branding on consumer buying behavior.
Anup V
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