It is concluded that purchase decision of the consumer mainly depends on the value of brand in monetary terms. Baba and Aziz (2014) in their thesis analyzed the impact of brand on the brand in influencing consumer decision making process and throws some light on the theories of consumer behavior and further analyzed the correlation between brand and behavior of consumer in regard to purchase decisions. It found that consumers are very enlightened about various brands. Further, a family, friends, and reference group plays a major role in affecting purchase decision making. Singh, Kumar, Goel and Chawala (2014) in their study investigate the influence of brand name on consumer decision behavior.
These insight can be gathered from consumer surveys, both qualitative and quantitative in nature, which can help the company to gather data on the strength and weakness of the brand and product attributes that are associated with frequency of purchase and usage of the product. Moreover these consumer insights help companies optimize their marketing budget, where in case of Pillsbury same advertising that was shown in
Ailawadi, Lehmann & Neslin (2003) define brand equity as “outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name” positing that, the advantages a product attains as a result of the power it’s brand name has. Yoo et al. (2000) also describe it as “the difference in consumer choice between the focal branded product and an unbranded product given the same level of product features”. Yoo and Donthu (1997) further tended to the estimation question by making and testing the psychometric properties of an arrangement of scales trying to gauge customer based brand equity. Aaker (1991) defines it “as a set of brand assets and liabilities linked to a brand, its name and symbol that add to or
The Engel, Kollet, Blackwell model sees consumer decision making process as creating a need then making sense of the need taking into consideration personal characteristics and external factors. The Howard-Sheth model is like the previous model however instead of just taking into consideration the import of the need consumer also looks at brand choice and if there is any negativity associated with the brand before the purchase is made. Avinash Kaushik came up with his model known as: See, Think, Do and Care (STDC). This is where the consumer becomes aware of a need or want, then thinks about solutions in acquiring that need, after which the consumer is looking to purchase. The final stage is where companies show how much they value their loyalty in purchasing a product more than once.
Brand attributes and brand benefits are the two factors that affect the strength and recall ability of a brand association and they are formed in the mind of consumers in many different ways. Brand attributes are those they descriptive features that characterize a product or service and brand benefits are the personal values and meaning that customers attach to the product or service attributes (Kevin Lane Keller, Strategic Brand Management, Building, Measuring, and Managing Brand Equity, 2013,
The American Marketing Association defines brand equity as ―The value of a brand. From a consumer perspective, brand equity is based on consumer attitudes about positive brand attributes and favorable consequences of brand use. Branding expert David Aaker defined brand equity as ―A set of assets and liabilities linked to a brand, its name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or to that firm‘s customers.Brand Equity was the one coined by David Ogilvy, when he said many years ago: A brand is the consumer 's idea of a product. Thus many researchers focus on brand image for measuring brand equity,since it can be manipulated by associations and attitude(that is brand image).Keller defines customer-based brand equity as ―the differential effect of brand knowledge on consumer response to the marketing of the brand. David A. Aaker, discusses that the four dimensions of brand equity are brand loyalty, brand awareness, perceived quality and brand associations.
Brand recognition is defined as consumers’ capability to confirm their prior exposure to the brand when given the brand as a cue; brand recall refers to whether consumers can retrieve the brand from memory when given the product category as a cue (Keller, 1993). The depth of brand awareness concerns the likelihood that the brand can be recognised or recalled and the breadth of brand awareness relates to the variety of purchase and consumption situations in which the brand comes to mind. (Keller 1993, 3; Keller 1998).Brand awareness affects consumer decision making by influencing the formation and strength of brand associations in the brand image. (Keller 1993). In a study, respondents were asked about ads, using a cue.
Customer loyalty is reflected in behavioral consequences, including repurchase behavior, spread positive word of mouth to communication, the resistance to against persuasion and lower product category searches. Decided to perceived behavioral control measures have been included the model to account for purchase occasion when the decision is not entirely will (exit costs, monetary restrictions, etc.) (Dickinson, (2014) “Customer loyalty: a multi-attribute approach”). This paper aims to examine how NESTLE managers take advantages of this powerful model as a template to optimize loyalty in competitive
This literature review would try to analyse and review previous related literature. It would review the communication process, marketing communication and decision making process of the consumer that is important for success in a market. Thus, the success of an organization depends on their ability to accurately communicate to consumers, which would help their decision making process. More importantly, this chapter would also explain the theoretical framework for this study. It starts with introducing the communication process, marketing environment in general and marketing communication.
In this chapter, we are going to explain brand awareness and brand image. Customer-based brand equity occurs when the consumer has a high level of brand awareness and familiarity with the brand and holds some strong, favorable, and unique brand associations in memory; and to establish a positive brand image in consumer memory, we need to create brand awareness and brand image to build customer-based brand equity. 2.1 What is brand awareness, and how do we achieve it? Brand awareness consists of brand recognition and brand recall performance. Brand recognition is consumers’ ability to confirm prior exposure to the brand when given the brand as a cue.