Impact of Advertising on Brand

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<p>(A Central University)</p> <p>Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city.By</p> <p>KARTIK BHATTACHARJEEMBA, 3rd SEMESTER ROLL NO - MBA 15 REGISTRATION NO 000119 OF 2006-2007 SCHOOL OF MANAGEMENT TRIPURA UNIVERSITY1</p> <p>SURYAMANINAGAR</p> <p>DECLARATIONI hereby declare that the project entitled, Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city Is an original piece of work done by me in partial fulfillment of the requirement of MBA degree, offered by the department of MBA, School Of Management, Tripura University, Suryamaninagar. The project report is completed under the supervision and kind guidance of Mr. Bijit Debbarma, faculty member, School Of Management, Tripura University, Suryamaninagar. I further declare that this report has not been submitted, in full or part, to any other institution, organisation or university.</p> <p>Date : 13 01 - 2011</p> <p>Kartik BhattacharjeeRoll - MBA - 15</p> <p>Place : Agartala. School Of Management Tripura University</p> <p>2</p> <p>PREFACEThe project entitled, Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city Is an original piece of work done by me in partial fulfillment of the requirement of MBA degree, offered by the department of MBA, School Of Management, Tripura University, Suryamaninagar. The world is speeding into the information age. Style is taking a seat next to substance &amp; the language is shifting to images &amp; perceptions from nuts &amp; bolts. Brands are bigger than ever but it is also true that more than ever is expected of them. Advertising provides the necessary support during the purchase decision of a consumer. Advertising reduces the feeling of discomfort by providing information on products attributes. Here my project report tries to measure the Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city. An effort has also been made to present the report in a comprehensive manner to make simplified and organized so understandable.</p> <p>Kartik Bhattacharjeebhattakartik13@gmail.com</p> <p>3</p> <p>ACKNOWLEDGEMENTAt the outset I would like to express my humble gratitude to Dr. Haradhan Debnath, Co-ordinator, School Of Management, Tripura University, Suryamaninagar whose constant guidance and unhesitating help enabled me to formulate this project. I would like to express my humble gratitude to Mr. Bijit Debbarma, faculty member, School Of Management, Tripura University, Suryamaninagar who provided all possible support, guidance and all sorts of valuable inputs during my entire course of study. I would like to thank all the Respondents for their co-operation and diligent efforts in fulfilling the schedules while carrying out the project. I am also thankful to all of my Friends (MBA) for their continuous co-operation and encouragement through out the study. Finally, I shall be failing in my duty if I do not express my gratitude to my Parents and other Family Members for their constant moral support and encouragement during the entire course of study.</p> <p>Kartik Bhattacharjee</p> <p>4</p> <p>EXECUTIVE SUMMARY1. PROJECT TITLE :Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city 07 Days</p> <p>2. DURATION :</p> <p>3. PROJECT GUIDE :</p> <p>Mr. Bijit Debbarma Faculty Member School Of Management.</p> <p>4. OBJECTIVE :</p> <p>To measure brand awareness&amp; consumer preference</p> <p>5. RESEARCH METHODOLOGY :</p> <p>Primary Data Collection (Through Schedules) &amp; Secondary Data Collection (From Internet, Books Etc.)</p> <p>6. SCHEDULE :</p> <p>A Structured Schedule (Database) Was Made To Collect Information From Respondents.</p> <p>5</p> <p>INDEXCHAPTER 1 Overall Introduction &amp; General Idea CHAPTER 2 Introduction To The Topic CHAPTER 3 Research Methodology CHAPTER 4 Data Analysis &amp; Interpretation CHAPTER 5 Suggestions CHAPTER 6 Limitations CHAPTER 7 Schedules Used For The Project CHAPTER 9</p> <p>Bibliography</p> <p>6</p> <p>CHAPTER 1OVERALL INTRODUCTION &amp; GENERAL IDEA</p> <p>1.1</p> <p>Definition of Advertisement. Definition of Brand. Definition of Brand Awareness. Definition of Brand Preference.</p> <p>1.2</p> <p>1.3</p> <p>1.4</p> <p>1.5 What is Brand Management? 1.6 Impact of advertising on brand awareness.1.7</p> <p>Challenges associated with Brand-Objectives.</p> <p>7</p> <p>1.1</p> <p>DEFINITION OF ADVERTISEMENT :</p> <p>It is any paid form of non-personal presentation of any idea, goods or services and to promote it by an identified sponsor. ------- AMA (American Marketing Association), 1963 1.2 DEFINITION OF BRAND :A name, term, sign, symbol or design or combination of them intended to identify the goods &amp; services of one seller or group of sellers and to differentiate them from those of competitors.</p> <p>------- AMA (American Marketing Association) 1.3DEFINITION OF BRAND AWARENESS :</p> <p>It is consumers ability to identify the brand under different conditions, as reflected by their brand recognition or recall performance.</p> <p>1.4</p> <p>DEFINITION OF BRAND PREFERENCE :</p> <p>The deliberate decision to choose one particular brand over another.</p> <p>1.5</p> <p>WHAT IS BRAND MANAGEMENT ?</p> <p>Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This can result from a combination of increased sales and increased price, and/or reduced COGS (cost of goods sold), and/or reduced or more efficient marketing investment. All of these enhancements may improve the profitability of a brand. In this regard, Brand Management is often viewed in organizations as a broader and more strategic role than Marketing alone. The annual list of the worlds most valuable brands, published by Interbrand and Business Week, indicates that the market value of companies often consists largely of brand equity. Research by McKinsey &amp; Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, this means that brands seriously impact shareholder value, which ultimately makes branding a CEO responsibility.8</p> <p>1.6</p> <p>IMPACT OF ADVERTISING ON BRAND AWARENESS :</p> <p>Now, it is well known that since brands are coming in by dozens, it is only advertisement which forms a vast superstructure with an autonomous existence and immense influence. Advertisement is one of the most important cultural sign systems that reflect and mould our lives. It is an inevitable part of anyones life. Even if one does not read newspaper or watches T.V it is impossible to escape from the advertising images that prevade our surroundings. Thus, together with the product or brand, price, channel or distribution and personal selling advertisement attempt to achieve the marketing objectives.</p> <p>1.7</p> <p>CHALLENGES ASSOCIATED WITH BRAND-OBJECTIVS :</p> <p>There are several challenges associated with setting objectives for a brand or product category. Brand managers sometimes limit themselves to setting financial and market performance objectives. They may not question strategic objectives if they feel this is the responsibility of senior management. Most product level or brand managers limit themselves to setting short-term objectives because their compensation packages are designed to reward short-term behavior. Short-term objectives should be seen as milestones towards long-term objectives. Often product level managers are not given enough information to construct strategic objectives. It is sometimes difficult to translate corporate level objectives into brand- or product-level objectives. Changes in shareholders' equity are easy for a company to calculate. It is not so easy to calculate the change in shareholders' equity that can be attributed to a product or category. More complex metrics like changes in the net present value of shareholders' equity are even more difficult for the product manager to assess. In a diversified company, the objectives of some brands may conflict with those of other brands. Or worse, corporate objectives may conflict with the specific needs of your brand. This is particularly true in regard to the trade-off between stability and riskiness. Brands are sometimes criticized within social media web sites and this must be monitored and managed. Only when these conflicts and tradeoffs are made explicit, is it possible for all levels of objectives to fit together in a coherent and mutually supportive manner.</p> <p>9</p> <p>CHAPTER 2Introduction To The Topic</p> <p>2.1 Title of the topic. Vital Statistics of the state Tripura.</p> <p>2.2</p> <p>2.3 Salient features of Agartala city. 2.4 Relevance of the study. 2.5 Objectives of the study.</p> <p>10</p> <p>2.1</p> <p>TITLE OF THE TOPIC :</p> <p>Impact of advertising on brand awareness &amp; consumer preference with special reference to mens wear in Agartala city.2.2</p> <p>VITAL STATISTICS OF STATE TRIPURA : Area : Capital : Altitude : Population : Temperature : Clothing : 10,492 sq km Agartala 12.80 metres 3191168 (Provisional census-2001) Summer : 20 to 36 degree C, Winter : 7 to 27 degree C. Summer Cotton, Winter Woolens.</p> <p>2.3</p> <p>SALIENT FEATURES OF AGARTALA CITY :</p> <p>Commercial hub of Tripura, main big market, having organised retailers &amp; catering to other suburbs &amp; districts. More or less all the leading newspapers in english &amp; bangali are circulated here regularly. The city has Doordarshans local transmission along with three-four local channels. A large no. of households are using cable T.V or dish T.V services. There are a hundreds of hoardings spots in the city. The study is focused on menswear, there are about 13 big branded outlets in the city. They are Cotton County, John Players, Bombay Dyeing, Kuotons, Lee, Monte Carlo, Park Avenue, Peter England, Moustache, Sheriff, Belmonte, Reebok, Wrangler etc.</p> <p>11</p> <p>2.4</p> <p>RELEVANCE OF THE STUDY :</p> <p>The study is associated with mens wear, gives an insight that whether advertising is able to gauge the attention &amp; interest of the prospects and thus helping them to select right brands that match their needs &amp; personalities.</p> <p>2.5</p> <p>OBJECTIVES OF THE STUDY :</p> <p>a)</p> <p>To study the impact of advertising on consumers brand awareness. To study the relationship between the brand awareness and its impact on consumers preferences. c) To study the brand awareness in different demographic groups &amp; their final preference &amp; choice. d) To study the impact of other factors in brand preference of readymade garments. e) To study the tendency of brand switching among consumers.</p> <p>b)</p> <p>12</p> <p>CHAPTER 3RESEARCH METHODOLOGY</p> <p>3.1 Research methodology. 3.2 Importance of research methodology. 3.3 Research process. 3.4 Research procedure carried out for this project. 3.5 Sampling plan. 3.6 Research problem. 3.7 Research objective.</p> <p>13</p> <p>3.1 RESEARCH METHODOLOGY : Research can be defined as a scientific &amp; systematic search for pertinent information on specified topic. A methodology used for the Research is called research methodology. Research methodology is used to search answers of research questions. 3.2 IMPORTANCE OF RESEARCH METHODOLOGY :</p> <p>The study of research methodology gives the student the necessary training in gathering materials &amp; arranging them, participation in field-work when required &amp; also training for the collection of data appropriate to particular problems, storing it out &amp; interpreting it. In fact, the importance of research methodology stems from the following considerations -----(a)For one who is preparing himself for a career of carrying out research, the importance of knowing research methodology &amp; research techniques is obvious since this constitute the tools of his trade. (b)The knowledge of research methodology provides good training specially to the new research worker &amp; enables him to do better research. It helps him to develop disciplined thinking &amp; to observe the field objectively. (c) The knowledge of research methodology is helpful in various fields such as government or business administration, community development &amp; social work where peoples are increasingly called upon to evaluate &amp; use research results for action. (d)It enables us to make intelligent decisions concerning problems faced in practical life. Thus the knowledge of research methodology provides tool to look at things in life objectively.</p> <p>14</p> <p>(e)The knowledge of research methodology helps the consumer to avail the research results, evaluate them &amp; take rational decisions.</p> <p>3.3</p> <p>RESEARCH PROCESS</p> <p>:</p> <p>PROBLEM FORMULATION</p> <p>RESEARCH DESIGN</p> <p>SAMPLE DESIGN</p> <p>DATA COLLECTION TECHNIQUES</p> <p>FIELD WORK</p> <p>ANALYSIS &amp; INTERPRETATION</p> <p>RESEARCH REPORT15</p> <p>(A)</p> <p>PROBLEM FORMULATION : The first step in research process is to define the</p> <p>problem for investigation. This is the single most important step to be performed since it is said, A well defined problem is half solved.</p> <p>(B)</p> <p>RESEARCH DESIGN : The fundamental to the success of any formal research</p> <p>project is sound research design. There are three types of research design. They are (1)Exploratory, (2)Descriptive &amp; (3)Caused. I have used exploratory research design in my project.</p> <p>(C)</p> <p>SAMPLE DESIGN : A sample design is a definite plan for obtaining a sample</p> <p>from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample. There are many sample designs from which a researcher can choose.</p> <p>(D)</p> <p>DATA COLLECTION TECHNIQUE : Once the appropriate sample design is</p> <p>selected the task is to look for type &amp; sources of data. The type of data available to the research are -----(1) Primary data &amp; (2) Secondary data.</p> <p>(E)</p> <p>FIELD WORK : Here a structured schedule is used for collection of primary</p> <p>data. While doing the field work of fulfilling the schedules we must keep two things in mind --(1) Objective of the research project &amp; (2) The respondents point of view.</p> <p>(F)</p> <p>ANALYSIS &amp; INTERPRETATION : In order to extract meaningfull information</p> <p>from the data collected data analysis is carried out. From the analyzed data researcher can make interpretation necessary for the preparation of the report.16</p> <p>(G)</p> <p>RESEARCH REPORT : Based on the above results researcher try to formulate</p> <p>the project report. 3.4 RESEARCH PROCEDURE CARRIED OUT FOR THIS PROJECT :RESEARCH TYPE : Exploratory Research. DATA SOURCES : Primary Data as well as secondary data. RESEARCH INSTRUMENT : Schedule. TYPE OF SCHE...</p>

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