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Impact of advertising on brand awareness & consumer preference with special reference to men’s wear in Agartala city.
By
KARTIK BHATTACHARJEE MBA, 3rd SEMESTER
ROLL NO - MBA 15 REGISTRATION NO – 000119 OF 2006-2007
SCHOOL OF MANAGEMENT TRIPURA UNIVERSITY
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SURYAMANINAGAR
DECLARATION
I hereby declare that the project entitled, “Impact of advertising on brand awareness & consumer preference with special reference to men’s 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.
Date : 13 – 01 - 2011 Kartik Bhattacharjee Roll - MBA - 15Place : Agartala. School Of Management
Tripura University
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PREFACE
The project entitled, “Impact of advertising on brand awareness & consumer preference with special reference to men’s 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 & the language is shifting to images & perceptions from nuts & 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 & consumer preference with special reference to men’s 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.
Kartik Bhattacharjee [email protected]
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ACKNOWLEDGEMENT
At 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.
Kartik Bhattacharjee
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EXECUTIVE SUMMARY
1. PROJECT TITLE : Impact of advertising on brand awareness & consumer preference with special reference to men’s wear in Agartala city
2. DURATION : 07 Days
3. PROJECT GUIDE : Mr. Bijit Debbarma Faculty Member School Of Management.
4. OBJECTIVE : To measure brand awareness & consumer preference
5. RESEARCH METHODOLOGY : Primary Data Collection (Through Schedules) & Secondary Data Collection (From Internet, Books Etc.)
6. SCHEDULE : A Structured Schedule (Database) Was Made To Collect Information From Respondents.
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INDEX
CHAPTER 1
Overall Introduction & General Idea
CHAPTER 2 Introduction To The Topic
CHAPTER 3
Research Methodology
CHAPTER 4
Data Analysis & Interpretation
CHAPTER 5
Suggestions
CHAPTER 6
Limitations
CHAPTER 7
Schedules Used For The Project
CHAPTER 9
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Bibliography
CHAPTER 1
OVERALL INTRODUCTION & GENERAL IDEA
1.1 Definition of Advertisement.
1.2 Definition of Brand.
1.3 Definition of Brand Awareness. 1.4 Definition of Brand Preference.
1.5 What is Brand Management?
1.6 Impact of advertising on brand awareness.
1.7 Challenges associated with Brand-Objectives.
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1.1 DEFINITION OF ADVERTISEMENT :
“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), 19631.2 DEFINITION OF BRAND :
“A name, term, sign, symbol or design or combination of them intended to identify the goods & services of one seller or group of sellers and to differentiate them from those of competitors.” ------- AMA (American Marketing Association)
1.3 DEFINITION OF BRAND AWARENESS :
It is consumers’ ability to identify the brand under different conditions, as reflected by their brand recognition or recall performance.
1.4 DEFINITION OF BRAND PREFERENCE :
The deliberate decision to choose one particular brand over another.
1.5 WHAT IS BRAND MANAGEMENT ?
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 world’s 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 & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands
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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.
1.6 IMPACT OF ADVERTISING ON BRAND AWARENESS :
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 anyone’s 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.
1.7 CHALLENGES ASSOCIATED WITH BRAND-OBJECTIVS :
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.
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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.
CHAPTER 2
Introduction To The Topic
2.1 Title of the topic.
2.2 Vital Statistics of the state Tripura.
2.3 Salient features of Agartala city.
2.4 Relevance of the study.
2.5 Objectives of the study.
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2.1 TITLE OF THE TOPIC :
Impact of advertising on brand awareness & consumer preference with special reference to men’s wear in Agartala city.
2.2 VITAL STATISTICS OF STATE TRIPURA :
Area : 10,492 sq km
Capital : Agartala
Altitude : 12.80 metres
Population : 3191168 (Provisional census-2001) Temperature : Summer : 20 to 36 degree C, Winter : 7 to 27 degree C.
Clothing : Summer – Cotton, Winter – Woolens.
2.3 SALIENT FEATURES OF AGARTALA CITY :
Commercial hub of Tripura, main big market, having organised retailers & catering to other suburbs & districts. More or less all the leading newspapers in english & bangali are circulated here regularly. The city has Doordarshan’s 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.
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2.4 RELEVANCE OF THE STUDY :
The study is associated with men’s wear, gives an insight that whether advertising is able to gauge the attention & interest of the prospects and thus helping them to select right brands that match their needs & personalities.
2.5 OBJECTIVES OF THE STUDY :
a) To study the impact of advertising on consumers’ brand awareness.
b) To study the relationship between the brand awareness and its impact on consumers’ preferences.
c) To study the brand awareness in different demographic groups & their final preference & 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.
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CHAPTER 3
RESEARCH METHODOLOGY
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.
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3.7 Research objective.
3.1 RESEARCH METHODOLOGY :
Research can be defined as a scientific & 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 : The study of research methodology gives the student the necessary training in gathering materials & arranging them, participation in field-work when required & also training for the collection of data appropriate to particular problems, storing it out & 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 & 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 & enables him to do better research. It helps him to develop disciplined thinking & to observe the field objectively.
(c)The knowledge of research methodology is helpful in various fields such as government or business administration, community development & social work where peoples are increasingly called upon to evaluate & use research results for action.
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(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.
(e)The knowledge of research methodology helps the consumer to avail the research results, evaluate them & take rational decisions.
3.3 RESEARCH PROCESS :
PROBLEM FORMULATION
RESEARCH DESIGN
SAMPLE DESIGN
DATA COLLECTION TECHNIQUES
FIELD WORK
ANALYSIS & INTERPRETATION
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RESEARCH REPORT
(A) PROBLEM FORMULATION : The first step in research process is to define the problem for investigation. This is the single most important step to be performed since it is said,
“A well defined problem is half solved.”
(B) RESEARCH DESIGN : The fundamental to the success of any formal research project is sound research design. There are three types of research design. They are –
(1)Exploratory,(2)Descriptive &(3)Caused.
I have used exploratory research design in my project.
(C) SAMPLE DESIGN : A sample design is a definite plan for obtaining a sample 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.
(D) DATA COLLECTION TECHNIQUE : Once the appropriate sample design is selected the task is to look for type & sources of data. The type of data available to the research are ------
(1) Primary data &(2) Secondary data.
(E) FIELD WORK : Here a structured schedule is used for collection of primary data. While doing the field work of fulfilling the schedules we must keep two things in mind ---
(1) Objective of the research project &
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(2) The respondents’ point of view.
(F) ANALYSIS & INTERPRETATION : In order to extract meaningfull information from the data collected data analysis is carried out. From the analyzed data researcher can make interpretation necessary for the preparation of the report.
(G) RESEARCH REPORT : Based on the above results researcher try to formulate 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 SCHEDULE : Structured.
TYPE OF QUESTIONS : Closed as well as open handed.
3.5 SAMPLING PLAN :
SAMPLE SIZE : 50
SAMPLING PROCEDURE : Simple Random Sampling with Replacement.
CONTACT METHOD : Direct One On One.
3.6 RESEARCH PROBLEM :
“Impact of advertising on brand awareness & consumer preference with special reference to men’s wear in Agartala city.”
3.7 RESEARCH OBJECTIVE :
3.7.1 PRIMARY OBJECTIVE : To ascertain brand awareness & consumer preferencefor advertisement in men’s wear.
3.7.2 SECONDARY OBJECTIVE : To get a knowledge about the followings --------
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c) The impact of advertising on consumers’ brand awareness.
d) The relationship between the brand awareness and its impact on consuners’ preferences.
c) The brand awareness in different demographic groups & their final preference & choice.
d) The impact of other factors in brand preference of readymade garments.
e) The tendency of brand switching among consumers.
CHAPTER 4
Data Analysis & Interpretation
4.1 Demographic profile of the respondents.
4.2 Diagrammatic representation of the data.
4.3 Overall ranks based on the analysis.
4.4 Findings.
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4.1 DEMOGRAPHIC PROFILE OF THE RESPONDENTS :
Age No. of Respondents Percentage (%)
Less than 18 05 10
18 – 24 25 50
25 – 35 15 30
40 + 05 10
Total 50 100
Monthly income No. of Respondents Percentage (%)
Less than 10,000 08 16
10,000 – 20,000 27 54
20,000 – 30,000 12 24
30,000 + 03 06
Total 50 100
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30
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4.2 DIAGRAMATIC REPRESENTATION OF THE DATA :
1. You prefer ……
a) Readymade garments, b) Tailor switched garments, c) Both.
2. Which one is primarily responsible for your purchase of ready-to-wear Garments ?
a) Movies & T.V channels, b) Growing income, c) Growing popularity of readymade garments, d) Drawing the attention of opposite sex.
Educational qualification No. of Respondents Percentage (%)
Under graduates 10 20
Graduates 22 44
Post graduates 18 36
Total 50 100
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22
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a) b) c)
Resp
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a) b) c)
Resp
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3. Your verdict to buy a particular brand depends on …… a) Scrupulous advertising, b) Exclusive choice, c) Seeing others using the brand.
4. To what extent advertising leads your fondness in buying ready-to-wear garments?
a) Always, b) Not always, c) Never.
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a) b) c) d)
Resp
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5. Which one provides enough information & shows the desired no. of variants about ready-to-wear garments?
a) T.V, b) Hoardings, c) Newspapers & Magazines, d) Others.
6. For information about new ready-to-wear garment’s brands you depend by & large on ……
a) Friends & colleagues, b) Advertisements, c) Internet, d) Retail outlets.
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4.3OVERALL RANKS BASED ON THE ANALYSIS :
Brands available in Agartala city
Brand Awareness
Brand Preference
1. Monte Carlo 47 32
2. Peter England 38 27
3. Sheriff 37 25
4. kuotons 35 25
5. Reebok 35 18
6. Belmonte 32 18
7. Cotton County 28 16
8. Lee 25 14
9. John Players 20 15
10. Moustache 20 12
11. Camaro 17 12
12. Mayfair 15 10
13. Wrangler 08 05
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4.4FINDINGS :
Ready-to-wear garments are becoming popular even in micro cities like Agartala & predominantly with youths.
Provocation of advertising was the foremost factor for buying of ready-to-wear garments.
The youth were found to be more eager to wear new garments as soon as they bought them.
Both, pre-deciding the brand to be bought or deciding at the point of purchase were found in practice.
It was a general feeling that rigorous advertising is primarily responsible for popularising ready-to-wear garments.
It was a general attitude that even men preferred to see a good no. of arrays & variants before finally selecting the garment.
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Audio-visual & print media was found to be most effective.
Growing brand patronage was found to be the prime reason for the growing popularity of exclusive show-rooms even in micro cities like agartala.
CHAPTER 5
Suggestions
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SUGGESTIONS
The most important suggestion from the analysis is that the new age consumers equipped with the effectual tool of advertising seeks more conception about the product, its features & its uses.
If advertising is presented in an efficient & inspired manner, it creates a perpetual notion on consumers’ mind about brands & may even amend his acuity of what he needs.
Advertisers should convey the massage simply & with unmistakable clarity.
To be successful the advertisement must be creative, i.e. it should contain an innovative idea. It will increase brand awareness.
Advertisers as well as marketers put emphasis especially on audio-visual & print media as they have maximum reach.
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CHAPTER 6
Limitations
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LIMITATIONS
1. The size of the sample is small compared to size of population which may create a change in overall impression.
2. It is difficult to extract all the relevant information because of the busy environment of the retail outlets & associated people.
3. The duration of the project is small thinking to the wide spectrum of the area.
4. Since it is a self financed project, the cost associated with it also worked as a limitation.
5. Central tendency of human being is also a problem to come up with unbiased response from the respondents.
Still I tried my level best to minimize the limitations & to
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come up with accurate information.
CHAPTER 7
Schedules Used For The Project
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Name : …………………………………………………………………...
Age : …….. , Occupation : …………… , Contact No. ………………
1. You prefer ……
a) Readymade garments, b) Tailor switched garments, c) Both.
2. Which one is primarily responsible for your purchase of ready-to-wear Garments ?
a) Movies & T.V channels, b) Growing income, c) Growing popularity of readymade garments, d) Drawing the attention of opposite sex.
3. Your verdict to buy a particular brand depends on ……
a) Scrupulous advertising, b) Exclusive choice, c) Seeing others using the brand.
4. To what extent advertising leads your fondness in buying ready-to-wear garments?
a) Always, b) Not always, c) Never.
5. Which one provides enough information & shows the desired no. of variants about
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ready-to-wear garments?
a) T.V, b) Hoardings, c) Newspapers & Magazines, d) Others.
6. For information about new ready-to-wear garment’s brands you depend by & large on ……
a) Friends & colleagues, b) Advertisements, c) Internet, d) Retail outlets.
CHAPTER 9
Bibliography
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BIBLIOGRAPHY
BOOKS AUTHORS & PUBLISHERS
1. Marketing Management Philip Kotler, Kevin Lane Keller, Abraham Koshi & Mithileshwar Jha.
Prentice-Hall India.
2. Research Methodology C R Kothari. Wishwa Prakashan.
3. Advertising Management Jaishri Jethwaney. Shruti Jain. Oxford
4. Advertising Promotion Marla R. Stafford & Ronald J. Faber. And New Media Prentice-Hall India.
5. Advertisement & Sales Promotion Kazmi & Batra. Excell Group.
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WEBSITES
1. www.Google.com
2. www.indiantelevision.com
3. www.montecarlo.com
4. www.brandking.Com
5. www.moustache.Com
6. www.tripurainfo.Com
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