CHAPTER – III CONCEPTUAL FRAMEWORK OF THE STUDY 3.1 Introduction Brand loyalty implies that consumer have a good attitude towards a particular brand over other competing brands. Brand loyal consumers may be willing to pay more for a brand because they perceive some unique value in the brand that no alternative can provide (Oliver1993) . Brand loyalty, long a central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a changes, either in price or in product features. As brand loyalty increase, the vulnerability of the customer base to competitive action is reduced.
According to Herbig & Milewicz (1993); Janiszewski & Van Osselaer (2000); Turley & Moore (1995) brand name offers a symbol that can assist consumers to identify service providers and to predict service results; as a consequence, brand awareness will affect purchase decision through brand association, and when a product owns a positive brand image, it will help in marketing activities (Keller 1993). According to Stryfom et al. (1995) the marketers can create brand awareness among their target audience by repetitive advertising and publicity. Macdonald & Sharp (2000) also reveals that brand awareness plays an important role on purchase intention because consumers tend to buy a familiar and well known product. According to Chaudhuri, & Holbrook (2001), brand awareness and brand image to be ascendant to brand
The goal of working strategically with brand image is to ensure that consumers hold strong and favorable associations of the brand in their minds the brand image typically consists of multiple concepts, perception, because the brand is perceived cognition, because that brand is cognitively evaluated; and finally attitude, because consumers after perceiving and evaluating what they perceive form attitudes about the brand. 3.2.8 Brand Loyalty Achieving a high degree of loyalty is an important goal in the branding process. Loyal consumers are valuable consumers because it is much more expensive to recruit new customers than nursing and keeping existing ones. Brands are important vehicles when building consumer loyalty as they provide recognizable fix points in the shopping
• Product concept: - any consumer when want to buy a product, they are always looking for quality and performance of the product and what features of this product is having, so the organization always should devote their energy to improve the product. • Selling concept: - when companies do a lot of promotions for their product so the consumer will buy more of their product and the sell of the company will increase due of that actions. • Marketing concept: - in this concept to achieve the organization goals they have to know what the consumer looking for and what his/her needs, also by thinking and feeling about what the customers way of thinking and feeling, so by this way they can delivering the desired satisfaction to the consumer better than competitors. • Societal marketing concept: - the idea of this concept, that the company should related their marketing activities for the welfare of the society, also focusing on wants/needs of targeting marketing and delivering a great value to the consumer better than the competitors.
“A competitive advantage is an advantage gained over competitors by offering customers greater value, either through lower prices or by providing additional benefits and services that justify similar or possibly higher prices”- (Cole Ehmke, M.S). Competitive positioning is concerned with how an organisation, mostly a business varies its products to create a value for its market. It is always good to know your position, this being business associated and in one’s personal life. If you know your competitive position, it is then possible for you to make efficient goals or set effective operating procedures that will help improve business performance. A recent article (Understand your competitors) states that you can benefit by realising new
Advertisement is an important aspect in the Modern Business world, the strategy to keep the company profitable and to make maximum customers and to expand the market segment. The advertisement plays an important role. Advertising is a form of marketing communication that is used to persuade an audience to take or continue some purchase action, usually with respect to a commercial offering, or political or ideological support. It has been argued that for fast moving consumer goods advertisement plays a very important role and it also helps in developing the brand and creates a positive behavior to the brand. Advertising messages are usually paid for by sponsors and viewed via various media forms including mass media such as newspaper, magazines,
Theme 3 “Consumer Satisfaction”: Consumer satisfaction is the perhaps the most important element of understanding the response of a customer and it forms a major pillar and a key to relationship marketing. If the satisfaction level is identified of a customer in the most generic form it becomes some what easy for any company to strengthen the bond with the customer in the long run and create an impact of loyalty in the minds of a consumer, depending on the satisfaction level. As defined by Mittal and Frennea, A customer's post-consumption evaluation of a product or service” determined by the perceived discrepancy between prior expectations and the actual performance is what it is that helps the company to evaluate the level of Customer satisfaction
Lately, corporate social responsibilities (CSR) has progressively come to be viewed as a decent vital advertising apparatus. There are two purposes behind this developing hobby in CSR. From one perspective, consumers are requesting from firms something more than a top quality item at a low cost, and they incline toward brands that are socially rumored at the point when assessing comparable items. Then again, a firm may acquire aggressive preferences by concentrating on non-financial components. CSR could be an advantage for building a better brand image and making consumers' inspirational disposition so it is an imperative wellspring of competitive advantages (Porter & Kramer, 2006).
This is important for brands, which have only minor physical differences and consumed in a social setting where the brand can create a visible image about the consumer itself. According to Kohli and Thakor (1997), brand name is the creation of an image or the development of a brand identity and is an expensive and time consuming process. The development of a brand name is an essential part of the process since the name is the basis of a brand’s image. Brand name is important for the firm to attract customers to purchase the product and influence repeat purchasing behavior. Consumers tend to perceive the products from an overall perspective, associating with the brand name all the attributes and satisfaction experienced by the purchase and use of the
CRM is viewed as the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. The aim of CRM is to build long-term, mutually satisfying relations with customers in order to earn and retain business by delivering high quality products and services at reasonable prices over the time. In other words, instead of trying to maximize profits from each and every transaction, CRM focuses on maximizing profits over the lifetime value of the customer by creating and maintaining relationships. Benefits of