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PROJECT REPORT
ON
EFFECT OF BRANDING ON CONSUMER BUYINGBEHAVIOR - A STUDY IN RELATION TO FASHION
INDUSTRY
Submitted in partial fulfilment of the requirement for the award of the
degree of
BACHELOR OF BUSINESS ADMINISTRATION
2008-11
Submitted To: Submitted By:
Mrs. Astha Sharma and Sudhanshu Leekha
Dr. Richa Gupta BBA (Gen.) 6th Sem.
Faculty Guide 0501341708
IDEAL INSTITUTE OF MANAGEMENT AND TECHNOLOGY
(Affiliated to Guru Gobind Singh Indraprastha University
16x Karkardooma Institutional Area, Delhi)
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CERTIFICATE
This is to certify that Sudhanshu leekha pursuing Bachelor of Business
Administration from Ideal Institute of Management and Technology has
completed this project under my supervision and guidance. He has taken
care of all necessary aspects and shown interest and sincerity during the
completion of the project report on Effect Of Branding On Consumer
Buying Behavior to my full satisfaction.
I certify that this project is up to my expectations as per the guidelines
laid down by Guru Gobind Singh Indraprastha University.
Mrs. Astha Sharma and
Dr. Richa Gupta
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ACKNOWLEDGEMENT
Management is a profession wherein no work can be accomplished
without the help and assistance of a large number of people, be it your
superiors or subordinates. A good manager is the one who knows how to
get the work accomplished with the help of his colleagues. As future
managers, we are taught to practice such behavior at every step. This
project is also a part of it.
I would like to thank Ideal Institute of Management and Technology for
providing me with this great opportunity to work on this report andchoosing my own topic of interest.
Further I would also like to thank everyone in Ideal Institute of
Management and Technology with whom I have come in contact during
the preparation of this dissertation.
I wish to express my sincere gratitude to Mrs. Astha Sharma and Dr.
Richa Gupta for their extended support during the study and preparation
of the report. All have been profoundly instrumental in making the
project undertaken the source of knowledge providing all the support
and necessary guidance.
SUDHANSHU LEEKHA
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EXECUTIVE SUMMARY
Brand is a Guarantee, an assurance for a defined standard of quality for
the first time and for every time but not the vice versa. Brand is name or
logo that plays the role in the mind of the customer. Brands do notcompete in the product area but compete for the mind space of the
customer. A brand once established in the mind of the customer
becomes indelible when customer identifies itself with that particular
Brand.
Branding is an effective marketing strategy tool that has been used with
frequent success in the past. Branding can be an effective and powerful
tool for all types of business organizations. If brand owners use their
product correctly, the payoffs can be substantial. However, if brands are
mismanaged, the results can be damaging.
This report is aimed to investigate the effect of brand on consumer
buying behavior. How much consumers are prepared to pay for branded
products, how important they consider price, brand or other factors
during their purchasing decisions. The Report aimed at comprehensiveliterature review on branding, brand loyalty, brand awareness, brand
equity and brand perceptions, price sensitivity and willingness to pay.
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TABLE OF CONTENTS
1. Chapter 1 Introduction 01-06
1.1 Introduction 02
1.2 Project Aims & Objectives 03
1.3 Limitations of the Project 06
2. Chapter 2 Literature Review 07-20
2.1 Understanding Branding 08
2.1.1 History of Branding 11
2.1.2 Branding in todays Markets 13
2.1.3 Importance of Branding 15
2.1.4 Development of Brand Equity 18
2.1.5 The Competitive Advantage of Brand Loyalty 19
2.2 Understanding Consumer Buying Behavior 21
2.2.1 Factors Affecting Consumer Buying Behavior 22
2.2.2 Consumer Buying Decision Process 25
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2.3 Brandings Influence on Consumer Purchasing Behavior 28
2.3.1 Impact on the Consumer Learning Process 31
2.3.2 Impact on Consumers Perception of Brands 32
2.3.3 Impact on Consumers Attitudes towards Brands 36
2.4 Positioning 37
2.4.1 Usefulness of Positioning 37
2.4.2 Brand Positioning 38
2.4.3 Elements of Positioning 39
3. Chapter3 - Research Methodology 41-43
3.1 Introduction 42
3.2 Research Approach 42
3.2.1 Secondary Data 42
3.2.2 Primary Data 43
3.3 Data Collection Tools 43
4. Chapter 4 - Findings & Analysis 44-73
4.1 Secondary Research Findings 45
4.1.1 Current Consumer Trends 48
4.1.2 Top Brands in India 51
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4.2 Primary Research Findings 57
5. Chapter 5 - Conclusions & Recommendations 74-79
5.1 Conclusions 75
5.2 Recommendations 77
Bibliography 80
Annexure 81-87
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CHAPTER-1
INTRODUCTION
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CHAPTER 1: INTRODUCTION
1.1 Introduction
Brands are like human beings. They are born, fed and nurtured, made
strong and responsible so that they can be faithful friends of the people
(customers), form mutually beneficial and satisfying relationships with
them and become their companions for life. Such brands, make their
parents (organization or corporate) proud of them. The best brands are
the ones who help in forming and sustaining strong long term parent-
brand-people relationships. These brands form the potential for presentgrowth and future expansion. They help the organizations conquer peaks
at the time of booms and stay afloat and swim at times of depression.
We come across a number of brands in our daily lives. Our morning
starts with using a toothpaste (Colgate, Pepsodent or Close-up), using a
bathing soap (Lux, Fairglow or Cinthol) and shampoo (Clinic All Clear
or Vatika), wearing clothes ( Allen Solly, Levis or Raymonds), breakfast
bread (Britannia or Modern) and butter (Amul) or jam (Kissan), lunch
and dinner (Nature Fresh or Pillsbury flour and Safal vegetables),
morning and evening tea and coffee (Tetley, Nescafe or Bru), going out
in a car (Hyundai Santro, Honda Accord or Mercedes Benz).
Talking on the cell phone (Motorola, Nokia, Siemens or Samsung),
watching television in the evening (LG, Sony or Philips) or listening to
music (Philips or Apple) etc. But how often do we think of what all a
company does to put a positive imprint (fight for a shelf space) in the
mind of the customer?
Today nearly all the companies are focusing more and more on building
strong brands. The concept of brand equity and its management has
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come to the fore like never before. More and more companies are
refocusing on select strong brands.
This project is thus a timely stuffy of the importance of brands, what it
takes to build them, what benefits do they give to different stakeholders(organization, distributors and customers), how can they be leveraged,
what is the impact of modern technology on branding, branding on the
web, branding in mergers and acquisitions etc. examples have been
given and cases discussed at every suitable point to bring out an
application oriented understanding of building and managing brands.
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1.2 Project Aims and Objectives
Importance of understanding branding and its impact on modern day
markets is vital to the health and growth of most industries. The aim of
this report is to put into perspective the functional values of branding aswell as assess its role in the consumer purchase decision-making
process.
Understanding the concepts of branding and consumer behavior.
To study the effect of brands on consumer buying behavior in
relation to Readymade garments.
To analyze the branding strategies adopted by some of the
companies in the readymade garments to woo the consumers into buying
their products.
To do a comparative study of the branding strategies adopted by
the companies in the readymade garments.
EFFECT OF BRANDING ON CONSUMER BUYING
BEHAVIOUR-A STUDY IN RELATION TO FASHION
INDUSTRY
In order to fully answer this research question, the following objectiveshave been set:
Set a valid and sustainable research question in order to achieve a non-
bias and accurate understanding on the topic in question;
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Present the key concepts behind branding, its values and its usage in
modern day marketing campaigns by reviewing current literature
pertaining to the subject matter;
Determine whether a correlation between consumer identities andperceived brand identities is present;
Determine the impact of branding on the consumer purchase decision-
making process
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1.3 Limitations of the Project
This project is limited due to time constraint as it involves a lot of
complex variables which require a detailed study over a period of
time.
The project did not cover the effect of branding on a very large
scale. Only a small population was studied, which may not be
enough to show correct picture.
The consumers were very reluctant to answer the question and theresponse may be biased.
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CHAPTER- 2
LITERATURE REVIEW
CHAPTER 2: LITERATURE REVIEW
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2.1 Understanding Branding
BRAND
The word Brand owes its origin to the Norwegian word brand which
means to burn. Farmers used to put some identification mark on the
body of the livestock to distinguish their possession. Products are what
companies make, but customers buy brands. Therefore marketers
resorted to branding in order to distinguish their offerings from similar
products and services provided by their competitors. Additionally, it
carries an inherent assurance to the customers that the quality of a
purchase will be similar to earlier purchases of the same brand.
A brand is a name, term, sign, symbol or design or a combination of one
seller or a group of sellers and to differentiate them from those of
competitors.
BRANDING
Branding is a process, a tool, a strategy and an orientation.
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Attributes A brand will communicate specific attributes, such as prestige
Benefits A brand strengthens a products attributes by communicating a
set of benefits that makes it more attractiveValues A brand represents a companys core values and belief system
Culture A brand is representative or target a target audiences socio
cultural characteristics
Personality A Brand can project behavioral personality patterns of
targeted consumers
User The brand, in some cases, can emulate the end user
From the consumers perspective, brand names are as fundamental as the
product itself in the sense that they simplify the purchasing process,
guarantee quality and at times, form as a basis of self-expression. Hence,
should a company market a brand name as nothing more than
just a name; it would be missing the entire purpose of product
branding. The challenge lies in developing a deep set of meanings for
the brand. Once a target market segment can visualize all six dimensionsof the brand, it will have established a strong rapport within the
consumers purchase decision-making process.
2.1.1 History of Branding
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Brands in the field of marketing, originated in the 19th century with the
advent of packaged goods. Industrialization moved the production of
many household items, such as soap, from local communities to
centralized factories. These factories, generating mass-produced goods,needed to sell their products in a wider market, to a customer base
familiar only with local goods. It quickly became apparent that a generic
package of soap had difficulty competing with familiar, local products.
The packaged goods manufacturers needed to convince the market that
the public could place just as much trust in the non-local product.
Many brands of that era, such as Uncle Ben's rice and Kellogg's
breakfast cereal furnish illustrations of the problem. The manufacturerswanted their products to appear and feel as familiar as the local farmers'
produce. From there, with the help of advertising, manufacturers quickly
learned to associate other kinds of brand values, such as youthfulness,
fun or luxury, with their products. This kick started the practice we now
know as "branding".
We tend to think of branding as a modern day phenomenon. Certainly,
during the late 1990s and the early 2000s, branding emerged as asignificant area of emphasis not only for companies and their products,
but also for municipalities, universities, other non-profit organizations
and even individuals. Branding became ubiquitous. Many of us also
know that Proctor & Gamble and other consumer product companies
began branding their products in earnest in the mid-to-late 1800s. But
more interesting to me is how far back in time branding goes. For
instance, companies that sold patented medicines and tobacco beganbranding their products as early as the early 1800s. Around the same
time, some fraternities and sororities branded their pledges (literally)
during initiation rites as a form of identification and bonding, a practice
that has long since been identified as hazing and therefore abandoned.
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But that is still recent history -- relatively.
Between the 1600s and 1800s, criminals were branded (again literally)
as a form of punishment and identification. For instance, in England,
they branded an S on a person's cheek, while in France; they branded afleur de lis on the shoulder. As repugnant as it may be to us today,
slaves were also branded roughly during the same time period to connote
ownership. In the 1200s, England required bread makers, goldsmiths
and silversmiths to put their marks on goods, primarily to insure honesty
in measurement. In the Medieval times, printers also used marks as did
paper makers (watermarks) and various other craft guilds.
But branding goes back even further. As far back as 1300 BC, potter's
marks were used on pottery and porcelain in China, Greece, Rome and
India. Branding of cattle and livestock go back as far as 2000 BC. And
archaeologists have found evidence of advertising among Babylonians
dating back to 3000 BC. So, how far back does branding go? At least
5000 years.
What is more interesting to me are underlying needs from which
branding originated: to insure honesty, provide quality assurance,
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identify source or ownership, hold producers responsible, differentiate,
as a form of identification and to create emotional bonding.
Interestingly, people value brands for many other same reasons today.
Clearly, history provides some insight and perspective on modern daybranding.
2.1.2 Branding in Todays Markets
A central function of branding is the facilitation of the consumer choice
process. Due to the complexity of having to select a product amongstthousands of similar offerings, consumers will instinctively attempt to
simplify their choice process by selecting brands that have satisfied them
in the past. Thus, one can conclude that pleasant past experiences is
highly conducive to consumers associating benefits to a brand. One can
conclude that a central function of branding is its ability to negate the
need for a consumer to seek out information when a need or a want has
been recognized, but rather, lead him to a brand that has been satisfying
in the past.
One must acknowledge however, that frequent purchasing of a brand
cannot always be linked to previous experiences, but can alternatively be
formed by embedded perceptions. A consumer might strongly favour a
brand with no prior purchasing experience. This type of consumer
behavior is based on stimulus provided by direct exposure to advertising
campaigns, a companys PR efforts or even a high concentration of local
distribution in an area that is in close proximity to a consumer.
In terms of companies views on branding, it can induce the natural
differentiation of their offerings, which ultimately, will produce a state
of competitive advantage. Differentiation can only allow for competitive
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advantage if the cost of differentiating is significantly lower than the
revenue earned by the sales. Differential advantage allows companies to
showcase their offer in respects to other competitors in the same
marketplace.
2.1.3 Importance of Branding
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brand in the market, they can use the pre-earned goodwill and reputation
for the new launch. The advantage is that, people are bound to purchase
the new products out of curiosity.
Importance of Branding in Marketing
Marketing primarily involves the study of demand in a market and
creating a response in the form of supply. In the field ofmarketing, the
brand name plays an important role as it helps the people to promote thebrand name and its merits quite easily. Apart from that, it also becomes
possible for the marketing people to generate intelligence information
about the brands popularity and also what people exactly want from the
brand owning company. As a result of a brand loyal group of consumers,
it also becomes easier for marketing department to asses regular and
promised demand. Apart from that, schemes such as free gifts and
discounts often boost the sales as the brand is an important icon of the
market.
Importance of Branding in Advertising
Advertising is often considered to be a part of marketing however;
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branding a particular product helps the advertisers to provide catchy
logos and advertisements. As a brand name can never be copied,
advertisers face lesser heat from unauthenticated advertisements,
effectively, their advertisement creation gets protected. Apart from thatadvertisers can initiate fearless and independent advertising as due to the
process of branding, the consumers are already well aware of the
product, its identity and nature.
In short, the importance of branding can be summed up in simple words
'successful branding is a process that generates revenue that cannot be
counted, it creates a reputation that is felt not seen, and it is an asset that
one cannot show on a balance sheet.
2.1.4 Development of Brand Equity
The amount of clout controlled by different brands will vary. Some are
deeply embedded in global culture and are thus, highly recognizable,
whilst other are virtually unknown to consumers. When attempting to
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place a value on a brand, one refers to brand equity. Chay (1991)
defines brand equity as a set of associations and behaviors on the part
of a brands customers, channelmembers, and Parent Corporation
that permits the brand to earn greater volume or greatermargins than
it could without the brand name and that gives the brand a strong,sustainable, anddifferential advantage over competitors. This
explanation creates a clear link between a products values, be it
financial or intangible, and a brand name.
Using the financial perspective, one measures brand equity by
determining how much more consumers are willing to pay in direct
relation to the brand name. This gives marketers essential insight into
the financial value of the brand. When viewing brand equity from this
perspective, one must naturally consider overhead, such as costs of
advertising.Using the consumer-based perspective entails considering how the
attitude strength of consumers is directly influenced by the brand name.
This perspective operates under the assumption that the consumer has
had extensive experience with the product in question.
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The consideration and development of brand equity is vital as its
benefits are wide reaching. One can consider brand equity as an asset, as
it can increase cash flow via the widening of a companys market share
and the allowance of higher pricing policies.
2.1.5 The Competitive Advantage of Brand Loyalty
There is a palpable correlation between the efficient branding of a
product or service, and the display of brand loyalty in consumer
purchasing patterns. In this instance, loyalty is defined as a deeply heldcommitment to re-buy or re-patronize a preferred product/service
consistently in the future, thereby causing repetitive same-brand or
same brand-set purchasing, despite situational influences and
marketing efforts having the potential to cause switching behavior".
Brand loyalty is a direct consequence of the ability to better satisfy the
desires of a customer that main competitors do. It now becomes clear
that a modern day marketers principal objective is to build sustainableforms of loyalty between a company and its consumers, instead of
focusing solely on the individual sale of products.
Brand Loyalty is the consumer's conscious or unconscious decision,
expressed through intention or behavior, to repurchase a brand
continually. It occurs because the consumer perceives that the brand
offers the right product features, image, or level of quality at the right
price. Consumer behavior is habitual because habits are safe and
familiar. In order to create brand loyalty, advertisers must breakconsumer habits, help them acquire new habits, and reinforce those
habits by reminding consumers of the value of their purchase and
encourage them to continue purchasing those products in the future.
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The image surrounding a company's brand is the principal source of its
competitive advantage and is therefore a valuable strategic asset.
Unfortunately, many companies are not adept at disseminating a strong,
clear message that not only distinguishes their brand from the
competitors', but distinguishes it in a memorable and positive manner.The challenge for all brands is to avoid the pitfalls of portraying a
muddled or negative image, and instead, 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. In fact, a company should
view its brand to be not just a product or service, but as an overall brand
image that defines a companys philosophies. A brand needs more than
identity; it needs a personality. Just like a person without attention-
grabbing characteristics, a brand with no personality can easily bepassed right over. A strong symbol or company logo can also help to
generate brand loyalty by making it quickly identifiable.
2.2 Understanding Consumer Buying Behavior
Definition
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Consumer behavior refers to the mental and emotional process and the
observable behavior of consumers during searching, purchasing and post
consumption of a product or service
Consumer behavior involves study of how people buy, what they buy,
when they buy and why they buy. It blends the elements from
psychology, sociology, socio psychology, anthropology and economics.
It also tries to assess the influence on the consumer from groups such as
family, friends, reference groups and society in general.
Buyer behavior has two aspects: the final purchase activity visible to any
observer and the detailed or short decision process that may involve theinterplay of a number of complex variables not visible to anyone.
2.2.1 Factors Affecting Consumer Buying Behavior
Consumer buying behavior is influenced by the major three factors:
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These are internal to an individual and generate forces within that
influence her/his purchase behavior. The major forces include motives,
perception, learning, attitude and personality.
Example:
Attitude is an enduring organization of motivational, emotional,
perceptual and cognitive processes with respect to some aspect of our
environment. Consumers form attitude towards a brand on the basis of
their beliefs about the brand. For example, consumers of Sony products
might have the belief that the products offered by Sony are durable; this
will influence those customers to buy Sony products due to this attitude
towards the brand.
3. Personal Factors
These include those aspects that are unique to a person and influence
purchase behavior. These factors include demographic factors, lifestyle,
and situational factors.
Example:
Lifestyle is an indicator of how people live and express themselves on
the basis of their activities, interests, and opinions. Lifestyle dimension
provide a broader view of people about how they spend their time the
importance of things in their surroundings and their beliefs on broad
issues associated with life and living and themselves. This is influenced
by demographic factors and personality.
E.g. - A CEO or Manager is likely to buy more formal clothes, ties and
shoes or PDAs and less informal clothes like jeans as compared to a
Mechanic or Civil engineer. So according to their lifestyle and
profession, the buying behavior of people differs from one another.
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2.2.2 Consumer Buying Decision Process
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Consumer buying decision process is the processes undertaken by
consumer in regard to a potential market transaction before, during and
after the purchase of a product or service.
Consumer decision making process generally involves five stages:
A. Problem Recognition
Purchase decision making process begins when a buyer becomes aware
of an unsatisfied need or problem. This is the vital stage in buying
decision process, because without recognizing the need or want, an
individual would not seek to buy goods or service.
There are several situations that can cause problem recognition, these
include:
Depletion of stock
Dissatisfaction with goods in stock
Environmental Changes
Change in Financial Situation
Marketer Initiated Activities
Its when a person recognizes that she cannot make a call from her
mobile phone thats when she recognizes that her phone has been
damaged i.e. the phone has hardware problems and needs to be repaired
or buying a new piece.
B. Information Search
After the consumer has recognized the need, he / she will try to find themeans to solve that need. First he will recall how he used to solve such
kind of a problem in the past, this is called nominal decision making.
Secondly, a consumer will try to solve the problem by asking a friend or
goes to the market to seek advice for which product will best serve his
need, this is called limited decision making.
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Sources of information include:
Personal sources
Commercial Sources
Public sources
Personal experience
C. Alternatives Evaluation
Consumers evaluates criteria refer to various dimension; features,
characteristics and benefits that a consumer desires to solve a certain
problem. Product features and its benefit is what influence consumer toprefer that particular product. The consumer will decide which product
to buy from a set of alternative products depending on each unique
feature that the product offers and the benefit he / she can get out of that
feature.
D. Purchase Action
This stage involves selection of brand and the retail outlet to purchase
such a product.
Retail outlet image and its location are important. Consumer usually
prefers a nearby retail outlet for minor shopping and they can willingly
go to a far away store when they purchase items which are of higher
values and which involve higher sensitive purchase decision. After
selecting where to buy and what to buy, the consumer completes the
final step of transaction by either cash or credit.
E. Post-Purchase Actions
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Consumer favorable post-purchase evaluation leads to satisfaction.
Satisfaction with the purchase is basically a function of the initial
performance level expectation and perceived performance relative to
those expectations. Consumer tends to evaluate their wisdom on the
purchase of that particular product. This can result to consumerexperiencing post purchase dissatisfaction. If the consumers perceived
performance level is below expectation and fail to meet satisfaction this
will eventually cause dissatisfaction, and so the brand and/ or the outlet
will not be considered by the consumer in the future purchases. This
might cause the consumer to initiate complaint behavior and spread
negative word-of-mouth concerning that particular product.
2.3 Brandings Influence on Consumer Purchasing Behavior
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The preceding section of this literature reviewed has sought to define the
term branding and explain its functions and values as an instrumental
marketing tool used in attaining differential and competitive advantage.
The following section of this literature review will seek to enlighten theimpact branding has on the consumer decision-making process.
First however, one must gain clear insight into the definition of
consumer buying behavior in order to understand the impact branding
has on it. In defining consumer buying behavior, one may refer to
Assael (1987) who distinguishes four types of consumer buying
behaviors. He bases these four consumer types on the varying degrees of
involvement and the degree of differentiation amongst the brands inquestion.
Consumers who are described as displaying complex buying behavior
will expand their beliefs regarding a particular product as a starting
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point. This stage will eventually lead them to develop positive attitudes
regarding the product. These intermediary stages lead them to the final
stage of their behavioral pattern, where they consciously make the
choice of purchasing the product. Referring to the Assaels model; one
will notice this type of consumer engages in highly involved purchasingexperiences being fully aware of the range of brands available and their
levels of differentiation.
Assael (1987) classifies consumer who exhibit Dissonance-reducing
behavior as consumer who are highly involved in the purchasing
experience, however see few differences between brands. For this
reason, the consumer will seek information on the differentiation of the
product offerings and will not be particularly price sensitive whenseeking functionality. In the event that this consumer finds him or
herself in a market that displays low levels of differentiation, the
consumer might result to purchasing influenced by convenience. Like
consumers who display complex buying behavior, consumers with
dissonance-reducing behavior will seek to establish personal beliefs
regarding the product. If fostered adequately, these beliefs with
eventually transform into attitudes regarding the product offerings.
These attitudes, if favourable, will lead to a thoughtful purchase.
Assael (1987) considered consumes displaying habitual buying behavior
as consumers who did not experience the same sequence as the previous
two behavioral types. Instead of basing their decision-making process on
seeking product information pertaining to functionality or
characteristics, this type of consumer will purchase based on information
gathered passively, via the companys promotional efforts, by it through
the medium of television, radio or print advertising. This behavioral
type, as can be seen on Assaels (1987) model, with low-levelinvolvement products. Differentiating this consumer type is the fact that
they being the process with beliefs already embedded in their mind,
which they have learnt passively, rather than actively.
Variety-seekers are the last behavioral type contained in Assaels (1987)
model. Their typical buying situation is summarized by low-level
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involvement in a market that displays high levels of product
differentiation. Common to this type of consumer, is brand switching,
in order to satisfy their need for diversification.
In order to fully ascertain the effects that branding has on the consumerdecision making process, the Howard-Sheth Decision-making model by
Howard and Sheth (1969) is used that explains not only the process of
consumer decision-making during purchasing activities, but one that
facilitates the understanding of pre and post purchasing activities as
well.
The models core assumption lies in that the key to determining behavior
exhibited by consumers is to fully understand the consumer thought
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It has been found that the learning process discussed above acts as a
catalyst in creating emotional and evaluating responses. These responses
are embedded in the consumers memory span, which will be recalled
when faced with a purchase decision-making process. Thus,
understanding the learning process is the key to marketers who seek toefficiently use promotional methods to influence consumers, because the
imprints they create in the mind of consumer will later on be recalled
when selecting a product or brand.
2.3.2 Impact on Consumers Perception of Brands
One may refer to Foxall (1980), where Engel defines perception as the
process whereby stimuli are received and interpreted by the individual
and translated into a response. At this point, it is important to note that
this process is unique to each individual, as perception is highly
dependent on a consumers individual beliefs structure.
Perception is crucial in the decision-making process. In a market where
branding is used, products are no longer only purchased for theirfunctional characteristics, but primarily for the social or in some cases,
psychological identity they express.
Building on these concepts, One can elaborate on these concepts by
outlining two determinants that influence a consumers perception of
brands. These two factors are stimulus discrimination and stimulus
generalization.
Whether a consumer has the ability to discriminate between thevarious methods used to stimulate a consumer? When a customer is
introduced to a brand, whether this is done via advertising, packaging,
word of mouth marketing or any other form of stimuli that affected them
during their decision-making process, their levels of awareness of the
brand will gradually increase via their ability to learn. Once their level of
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brand awareness has increased, their purchase decision-making process
will be influenced by their perception of the brand in question.
The perception of brands is crucial to both the marketer and the
customer. If one considers that frequency of purchases varies fromconsumer to consumer, one can understand that the influence of
perception is vital. By providing relevant information for the consumer
market, marketers enable the creation of symbolic links between the
consumer and the brand image. Thus, consumers will have the relevant
tools needed to distinguish between the brands on offer and therefore be
persuaded in their selection. In the event that a consumer is a new user
with no product experience, he or she will not be able to make relevant
decisions based on the actual product. Thus, the brand image again,becomes vital in directing the consumer to a specific product.
In order to better understand the relevance of branding on the consumer
purchase decision making process, four key factors that are responsible
for directing a potential consumer towards a particular brand are
referred.
Perceived Quality In time, consumer will have faith in abrands integrity via their perceived
quality of the brand in question
Building Excellent Service When a company implements excellent
after service sales, this endorses the
perceived quality of the brand and
facilitates activities in the pre and post
purchase moments of the decision-
making process. As discussed previously,this is key in the creation of loyal
customers
Standing Out in the
Consumers
By striving to differentiate ones brand
from another, companies hope to become
embedded in the users culture and mind.
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This is the most effective way to insure
consumers positively perceive the brand
and product. This eventually leads to
extremes forms of competitive advantage
Investing in Differential
Markets
When one seeks to establish a brand, it is
essential to select a market in which it is
possible to create differentiation.
Otherwise, the concepts of branding will
not be possible.
Brands have a large impact on the perceived risks consumers associatewith the consumer purchase decision-making process. There to be six
risks that are perceived by consumers during all aspects of the decision-
making process and further outlines how brands can appease the
consumers mind in regards to these perceived risks.
The first perceived risk a consumer might encounter is one of a
functional nature. The consumer might worry whether the product will
meet his or her expectations. In the creation of a trustworthy brand,marketers seek to raise the level of perceived quality in order to
specifically address this risk.
Consumer might also perceive a physical and/or psychological risk that
might dissuade them from continuing the purchasing decision-making
process.
A fourth possible risk that might be perceived by the consumer is one of
an economic nature. Price sensitive consumers will question whether theproduct is in fact properly valued at the quoted asking price. Again,
marketers will strive to counter this by highlighting the perceived value
of a product in the branding process. If properly done, consumer can
become price insensitive by forming a strong bond to a brand and
therefore isolating him or herself from competitors.
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Socially speaking, a fifth risk a consumer might perceived to be
detrimental to the buying process is whether his or her selection of a
brand will cause embarrassment in a social setting, amongst his or her
peers. Marketers address this issue in the creation of the brand image.By emulating current market trends and fashions, marketers strive to
identify and differentiate their products as being the selected choice of
revered people.
.
Yet another economic risk consumer might consider, is the opportunity
cost of seeking out alternative products, and should the selected one fail
to satisfy their needs and wants. Reflected in a loyal consumer base, is a
brands ability to deliver on the satisfaction guarantee. Thus, one canunderstand that branding is the key in addressing this issue in the
consumers mind.
2.3.3 Impact on Consumers Attitudes Towards Brands
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An attitude can be considered to be either positive or negative,
depending on the outcome of their learning and evaluating process.
The evaluation of consumer attitudes towards brands has quickly
become a major part in conducting marketing research. Thedevelopment of positive attitudes towards brands can lead to not only the
sustaining of competitive advantage, but in the bettering of the financial
health of a company.
Branding has been found to be a key in formation of positive attitudes
towards products, especially those involving low-levels of consumer
involvement. However it has been noted that there are factors that might
negate the effects of the formation of positive attitudes. One being thatthe effects of positive attitudes can dissipate should the consumer not
purchase the product within a certain timeframe. Another factor that
might negate the effects of positive attitudes might be an overtly high
pricing policy, which might have a contrary effect to the consumers
positive attitudes towards the brand and result in a non sale.
In considering attitudes towards brands, one must ponder whether these
attitudes all remain at a conscious level, or whether branding caninstigate attitudes at a sub-conscious level. Sigmund Freuds theory that
individuals are rarely aware of how their own psychology shapes their
visual behavioral patterns which suggests that at an unconscious level,
consumer might have beliefs that shape their attitudes towards products.
By acknowledging Freuds theories, one can conclude that branding can
be used to target sub-conscious desires that rest at a primal level.
2.4 Positioning
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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.
Positioning applies to the process of emphasizing the brands distinctiveand motivating attributes in the light of competition.
It is based on the analysis of response to the following four questions.
POSITIONING
Why?
For whom?
When?
Against whom?
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4. The Consumer: - It should be reiterated that positioning is essentially
based on consumer perception rather than factual evaluation. Hence, it
becomes necessary to examine how the consumer views a product. Here,
it becomes necessary to examine how the consumer views a product.Here, the consumers self-perception comes into play along with his
cognitive & connotative factors.
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CHAPTER- 3
METHODOLOGY
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CHAPTER 3: METHODOLOGY
3.1 Introduction
In order to understand the methodology used to compile this Project, this
chapter is included in order to clarify how an effective methodological
philosophy can to contribute the successful production of a un-bias and
critically Project, as well as comprehend the process underwent to reach
the pertinent conclusion outlined in chapter 5.
This chapter also serves the purpose of justifying and authenticating the
research procedures employed in order meet the set objectives andanswers the main research question of this Project.
3.2 Research Approach
3.2.1 Secondary Data
Articles in Newspapers, Magazines and Internet
Study Reports from Internet
Desk Research under the guidance of my guide
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CHAPTER- 4
FINDINGS & ANALYSIS
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CHAPTER 4: FINDINGS & ANALYSIS
4.1 Secondary Research Findings
Consumer Behavior is the study of the processes involved when
individuals or groups select, purchase, use, or dispose of products,
services, ideas, or experiences to satisfy needs and desires. Consumers
take many forms, ranging from an eight-year-old child begging her
mother for Pokemon shoes to an executive in a large corporation
deciding on a multimillion-dollar computer system. The items that are
consumed can include anything: Gucci handbags, a massage, democracy,rap music, or hoopster rebel Dennis Rodman. Needs and desires to be
satisfied range from hunger and thirst to love, status, or even spiritual
fulfillment. Consumer behavior is the study of the processes involved
when individuals or groups select, purchase, use, or dispose of products,
services, ideas, or experiences to satisfy needs and desires.
A consumer may purchase, use, and / or dispose of am product, but
these functions may be performed by different people. In addition,
consumers may be thought of as role players who need different
products to help them play their various parts.
Fashion terminology is often used by consumers in overlapping
ways. A style of apparel is defined by distinctive attributes that
distinguish it from others in its category, such as different types of skirts;
a fashion is a style that has been accepted by many people; high fashion
consists of new, expensive styles offered by upper-end designer. A trend
is a general direction that may lead to a fashion. Merchandise
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classifications include designer, bridge, better, moderate, and budget
prices.
Fashions tend to follow cycles. The two extremes of fashion
adoption known as collective selection. Perspectives on motivations for
adopting new styles include psychological, economic, and sociological
models of fashion.
Marketing activities exert an enormous impact on individuals.
Consumer behavior is relevant to our understanding of the dynamics of
popular culture.
The Internet is transforming the way consumers interact with
companies and with each other. Online commerce allows us to locate
obscure product from around the world, and consumption communities
provide forums for people to share opinions and product
recommendations. The benefits are accompanied by potential problems,including the loss of privacy.
The field of consumer behavior is interdisciplinary; it is composed
of researchers from many different fields who share an interest in how
people interact with the marketplace. These disciples can be categorized
by the degree to which their focus is micro (the individual consumer)
versus macro (the consumer as a member of a group or of the larger
society).
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be the biggest buyers for themselves. Brands need to focus on this
consumer as he will be the next big thing The Man.
Teenage Power
Teenage consumers influence the purchase patterns of many
different age groups.
They are the offspring of the baby boomers and represent over 14
per cent of the total population.
Typical teenagers room now includes a TV, a stereo, a DVD
player, a computer and perhaps even a microwave oven.
Each room is a highly personalized environment that can be
custom tailored and personalized as a centre for entertainment.
42 per cent of all Indian teenagers, 18 and over, have their own
credit card and increasing another 14 per cent to have access to the
credit cards.
Fashion brands need to pay more attention to this consumer segment as
they are the future of the marketplace. Increased income levels and
exposure to television makes them the consumer with the buying power,
especially with the phenomenal growth in the BPO sector where dress
codes are essential and thus increasing the opportunities for brands to
market themselves and sell to this segment.
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The Company acquired from Acme Global the entire business of export
of textile; textile machinery and textile related chemicals and operates
these businesses as its division under the name Acme Global.
Louis Philippe
Louis Philippe's range of superbly crafted garments makes an exclusive
fashion statement that is accepted as a status symbol, recognized by its
distinctive icon 'The Upper Crest'.
Van Heusen
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LEVIS FASHION BRAND
In the list of top market players in the fashion industry, the most shining
name is Levis fashion brand. Levi Strauss & Co. (LS&CO) was named
after its founder Levi Strauss in 1853. Since then the journey of its
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women. Wills Lifestyle has also introduced Wills Signature designer
wear designed by the leading designers of the country.
UNITED COLORS OF BENETTON
The United Colors of Benetton (UCB) is changing hues in India. Flush
with plans of capturing 80,000 sq ft of retail space across the country
before the year ends, coupled with a stringent fabrication and
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merchandising exercise, United Colors of Benetton is aiming to shore up
volume and value sales, while also presenting a larger-than-life facet of
its retail look.
4.2 Primary Research Findings
Which of the following fashion brands are you aware of?
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Which of the following brands of Denim are you aware of?
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How often do you change your readymade garments?
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Factors you consider while purchasing a readymade garments
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about modest prices and
wearability.
I prefer to buy well-
known designer labels
rather than take a
chance on something
new.
6 4 40
I am confident that I
have good taste in
clothing.
10 18 22
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Who influence you to purchase the brand?
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In which media you have seen the advertisement of these brands?
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Which of the following would affect you choice of readymade
garments?
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When you buy a readymade garment during a promotional
campaign, will you by the product after the campaign?
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Which media do you prefer more for fashion ads (in order of your
preference)?
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If magazine, is it because of
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If Newspaper / pamphlets, if it because of
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Chapter 5 CONCLUSIONS & RECOMMENDATIONS
5.1 Conclusions
Readymade garment is really becoming big business. The domestic
market too presents immense opportunities with consumer spending on
the rise and organized retailing growing. But should a garment player go
global or sell at home?
Some players such as Raymond and Zodiac Clothing have chosen to beaggressive in both markets. Even as they plan to improve their retail
presence over the next three years, both are expanding their
manufacturing facilities in Bangalore to cater to the expected rise in
international demand.
Interestingly, major export players such as Ambattur Clothing (Color
Plus) and Acme Clothing (Provogue) have, in the past, placed their bet
on the domestic market.
These companies quickly managed to give bigger players a run for their
money. But, as Color Plus discovered, further growth could come only
from a wider distribution network, which needs deep pockets. Raymond
stepped in and acquired the brand.
Operating in the domestic market poses an entirely different set of
challenges from that of the export market. It requires more thanmanufacturing expertise and a heightened fashion-consciousness.
Established names, however, do not have it easy either. The entry of
international brands such as Tommy Hilfiger into the Indian market is
likely to be followed by more players.
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Competition is likely to hot up and keep domestic players on their toes.
The retail landscape is changing, and the traditional distribution strategy
of apparel players is in for an overhaul. Figuring out which price point to
operate in is yet another challenge for an apparel maker. Challenging,but interesting, times are ahead for the readymade garment industry.
Apparel retailers, with little retail expertise, had to build their own
network, at considerable expense. The rapid growth in recent years of
various retail formats, such as departmental stores and malls, has given a
fillip to the industry.
A boost to the industry would come from allowing foreign direct
investment in retailing, which would increase space considerably and
also bring international practices to India. This may also encourage
newer entrants, once the distribution costs decline.
Private labels tend to do well during recessions. Retailers enjoy better
margins on their own labels, and are also able to price them lower.
Players such as Madura Garments, which have a presence in the segment
through Allen Solly, believe that once women try out private labels andget more accustomed to Western wear, they are likely to upgrade to a
more expensive brand.
But players may still find it tough to cater to this market. They would
have to move towards a low-margin, volume-driven business. This
would also need a far larger distribution network than what exists today.
Few retail formats in India operate on a truly large scale. Giants such asWal-Mart and Carrefour, which have the ability to drive volumes, are
what the industry would need.
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5.2 Recommendations
1. Rural market. Knowing the huge size of rural population of India it
is natural that the rural market is attractive to marketers. Company
should study purchasing power, life styles, buying habits, optimal usage
level. Brooke Bond for instance could capture the crux of the challenge
when they started marketing Re 1 tea packets.
2. Understanding role of children. Marketers should study the role of
children in buying decision as influencers and decision makers.
However, the challenge remain how does one communicate with
children? Advertising recalls being more in the case of children-one
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BIBLIOGRAPHY
Kevin Lane Keller (2004), Strategic Brand Management, 2nd
edition, Pearson Education, New Delhi
Consumer Behavior, 6th Edition, by Lean G.Sehiffman and Leslic
lazan Kanuk.
Consumer Behavior, 6th Edition, by Hawkins, Best ad Coney.
Brand Equity (Economic Times)
www.google.com
www.wikipedia.com
www.levis.com
www.peterengland.com
www.raymonds.com
www.excalibure.com
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Monthly Household Income:
20000
1. Which of the following fashion brands are you aware of?
Levis Dockers Color Plus
Parx Blackberrys Zodiac
Provogue Park Avenue Louis philippe
Van Heusen Peter England Excalibur
Arrow Others(please specify)
2. Which of the following brands of Denim are you aware of?
Lee Black Levis Strauss
Wrangler Numero Uno Pepe
Monte Carlo Lites Lee Cooper Others (please specify)
3. How often do you change your readymade garments?
Frequently Occasionally
Never
4. How often do you purchase clothes?
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Once a week Once in a month
Once in 3 months Once in 6 months
5. Factors you consider while purchasing a readymade garments?
RANK THEM ACCORDING YOUR PRIORITY:
Cloth type Color Brand
Fashion/Trend Price Availability
6. Listed below are statements about shopping behavior for clothes and
clothing fashions. Please check one box for each statement to indicate
the extent to which you agree or disagree with each statement.
Agree Neithe
r
AgreeNor
Disagr
ee
Disagr
ee
I buy clothes I like, regardless of
current fashion.
I buy new fashion looks only when
they are well accepted.
I am not as concerned about
fashion as I am about modest prices
and wearability.
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I prefer to buy well-known
designer labels rather than take a
chance on something new.
I am confident that I have goodtaste in clothing.
7. Who influence you to purchase the brand?
Family
Friends
Advertisement
Self Other
8. In which media you have seen the advertisement of these brands
TV Magazine
Newspaper Internet
Other
9. Which of the following would affect you choice of readymade
garments?
No effective at all Affecting the most
Cloth Type
Price
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Promotional
campaigns
10. When you buy a readymade garment during a promotional
campaign, will you by the product after the campaign?
Yes
Likely
Dont Know
I will most likely written over to my previous brand
I will switch over to previous brand
11. Which media do you prefer more for fashion ads (in order of your
preference)?
TV Magazines
Newspaper / pamphlets Radio Hoardings / bill boards
Any other (specify)
12. If TV, is it because
It is an audio - visual medium Entertainment value
Overall presentation
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13. If magazine, is it because of
It is a good source of latest trends Overall presentation
Longevity of message
Any other (specify)
14. If Newspaper / pamphlets, if it because of
Inexpensive source of Information Mass coverage
Available in many languages Any other (specify)
15. If Radio, Is it because
Audio medium Entertainment value
Medium for travellers and car riders Any other (specify)
16. If Hoardings, is it because
It is an attention gaining medium Conveys direct message
Colorful and attractive Any other (specify)