Branding is the single most important aspect of any marketing strategy. The purpose of the proposed research is to determine the ways in which branding strategies can be utilized to alter consumer behavior to the benefit of retail outlets. Retail businesses need to understand the factors so that their branding strategies are developed in a way that contributes positively to profitability. The proposed research aims to provide the necessary tools to assist retailers in implementing the appropriate brand strategy. The research design will be a combination of both qualitative and quantitative methods. The qualitative aspect of the research will involve a review of the literature currently existing on the topic of branding's influence on consumer decisions. The quantitative aspect of the proposed research will involve 25 participants who will complete a 15 part questionnaire that utilizes the Likert scale. The research design will allow the researcher to gauge the actions of consumers based on both secondary and primary research. By combining both qualitative and quantitative methods the researcher will investigate the actions of consumers while also providing concrete statistical evidence to support the claims. It is hypothesized that retail branding has a profound effect on what consumers' purchases.
Introduction
Branding is an essential aspect of having a successful product or services. Businesses all over the world spend a great deal of money annually to introduce and/or secure their brands. The proposed research will focus on the manner in which branding influences consumer decisions as it relates to retail purchases. The purpose of the proposed research is to determine the ways in which branding strategies can be utilized to alter consumer behavior to the benefit of retail outlets.
Relevance of the Proposed Research
The information contained in the proposed research is essential to understanding the branding factors that will influence consumer decisions. Retail businesses need to understand the factors so that their branding strategies are conducted in a way that can contribute positively to profitability in the retail sector. Possessing the proper branding strategy increases the likelihood that the brand will have longevity and be successful well into the future.
Key Research Studies and Relevant Bodies of Theory
There are several studies that have been conducted involving the importance of retail branding in consumer decision making. For instance, Ries (2011) points out the ways in which brand power can be achieved and the significance of brand power to consumers. The author names four ways in which brand can attain power in the eyes of consumers: Be First, Be First in Mind, Be Different and Be Focused (Ries 2011,p.38). Each of these ways of attaining brand power places a company at a competitive advantage and secures their ability to attract consumers.
Branding enables a company to gain consumer recognition and when consumers are familiar with a brand they are more likely to purchase products or services related to the company. According to Hatch & Schultz (2001) as an aspect of marketing," branding and corporate identity studies, we find a growing awareness that corporate brands can increase the company's visibility, recognition and reputation in ways not fully appreciated by product-brand thinking. The corporate brand contributes not only to customer-based images of the organisation, but to the images formed and held by all its stakeholders (p. 1042)."
Retail branding has specific attributes that must be understood and correctly implemented if a company is to enjoy success (Sayman et al., 2002). Ailawadi & Keller (2004) explain that retailer brands differ from other product brands so much that the application of the accepted branding principles can differ greatly. For instance retailer brands tend to be "more multi-sensory in nature than product brands and can rely on rich consumer experiences to impact their equity. Retailers also create their brand images in different ways, e.g., by attaching unique associations to the quality of their service, their product assortment and merchandising, pricing and credit policy, etc. (Ailawadi & Keller 2004, p. 332)." With these things understood retail companies must make a concerted effort to develop branding strategies that are uniquely situated to meet the needs of retailer and dictate consumer decisions.
Companies that have invested in defending their brand and managing the customer experience outside of their website have seen great returns. Within the travel industry, for example, companies such as InterContinental Hotels Group and Royal Caribbean Cruises have both extended their reach to manage the customer experience on partner sites with a very high degree of success. In each instance, their efforts have resulted in an improvement in the
Branding and Communication There has been significant criticism leveled against the branding practices of companies, and most particularly those of multinationals, which have been raised. Drawing on the academic literature this work will identify the primary arguments used in these critiques and will critically examine those arguments and discuss their implications for branding in the age of globalization. This study will further answer the question of how branding has changed under
Branding in the global marketplace "Brands should be viewed as markers in a global system of symbolic differences" (Cayla, 2008, p. 106). Julien Cayla and Eric. J. Arnould assert in their Abstract that scholars in the field of international marketing need to "revise some key premises and foundations" and think more along the lines of the being "culturally relative" and "contextually sensitive" when approaching global branding (Cayla, et al., 2008, p.
This stage provides comprehensive information for use in marketing and promotional plans. Dave (2002), puts it that "The Brand Equity measure summarizes consumer perceptions on five dimensions: Familiarity, Uniqueness, Relevance, Popularity, and Quality." From this, it is apparent that the promotion point and reputation of any company and products is hinged on the brand equity. Why companies fail in brand equity All it takes to shrink a brand in today's hyper-linked global
This level of the maturity model is a transitory one and is focused more on either small, incremental gains from the first level, which is Reacting. In the Reacting layer of this proposed Branding Maturity Model, the majority of brand departments have a decidedly "every department for itself" approach to process maturity and have information flow that is purely dependent on personal productivity applications only. That is to say
Brand Equity and Customer Purchasing Behavior Taking into account the numerous modifications witnessed in the marketing milieu- viz. The accessibility to plethora of knowledge through various electronic devices, the emergence of modern methods of buying, the ability of the companies to use technology to target consumer more specifically, getting a feel of customer tendencies is still more difficult. Purchasing activities is the sequence of choice and actions of individuals occupied
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