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SSUUMMMMAARRYY OOFF FFIINNDDIINNGGSS,, CCOONNCCLLUUSSIIOONNSS AANNDD
RREECCOOMMMMEENNDDAATTIIOONNSS “Brand equity is the sum of all the hearts and minds of every single person that comes into contact with your company." - Christopher Betzter
5.1 Introduction
The modern concept of marketing considers the consumers’ wants and
needs as the guiding force and focuses on the delivery of customer satisfaction
through integrated marketing efforts to make positive customer purchase
behaviour. The main aim of all effort is to earn profit through maximisation of
customer satisfaction. This implies that if the customers are satisfied they will
continue to purchase and many new customers will be added. This will lead to
increase in sales and profits. Similarly in global competition one of the
important aspects of modern marketing is to create a strong brand. Branding is
one of the fundamental decisions in marketing products in which an
organisation uses a name, phrase, symbol or combination of these to recognise
its products and separate them from those of rivals. Brands reflect consumers’
perceptions and feelings about a product and its performance. Brands are in the
minds of consumers. Hence the actual value of a strong brand is its power to
get consumer choice and faithfulness, ie., customer-based brand equity.
Therefore the concept and measurement of brand equity is important in today’s
marketplace to develop, maintain and to acquire a certain level of competitive
advantage. Building customer- based brand equity demands the creation of a
brand that has strong and unique brand associations, satisfaction, attachment,
trust and loyalty. This can be done through efficient marketing programmes.
The impact of branding on the customer purchase behaviour and
customer-based brand equity of consumer products is examined in this study.
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From the analysis and interpretation, it is found that brand advertisement, brand
sales promotion, brand awareness, brand knowledge, brand pricing, perceived
quality and brand image have a significant impact on the Brand Purchase
Behaviour (BPB) of the customers. It is further found that these factors have
the greatest impact on the BPB of the customers of speciality goods.
The analysis part of the study reveals that brand association, brand
satisfaction, brand attachment, brand trust and the brand loyalty are the main
building blocks and contributors of creating Customer-based Brand Equity
(CBE). This study also reveals that customer-based brand equity has great
impact on customer’s willingness to accept brand extension.
The study aims at identifying favourite consumer product brands in
Kerala, ascertaining the factors determining selection of brands and
establishing its relationship. The research also focuses on establishing the
influence of demographic variables on various components of branding and
brand purchase behaviour of the customers. It also innovatively measures
various dimensions of customer-based brand equity and its degree of impact to
the building of brand equity.
The main objectives of the study were:
1. To identify the favourite brands of different categories of consumer
products
2. To analyse the factors motivating the customers to choose branded
consumer products
3. To examine the factors affecting the purchase behaviour of the
customers of branded consumer products
4. To evaluate the effect of brand satisfaction, brand attachment, brand
trust and brand loyalty on the customer-based brand equity
5. To analyse the impact of customer-based brand equity on brand
extension of consumer products.
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For this purpose, a descriptive and analytical research design was
applied in this study, where primary and secondary data were used. A pre-
structured interview schedule was administered to 60 household customers for
the collection of data relating to brand purchasing behaviour of the customers
of different categories of branded consumer products. The sample size for the
pilot survey among the households was 60. But after the pilot study and the
analysis of the variations of data, the sample size of the customers for
examining the impact of branding was fixed at 675 respondents. Multi-stage
stratified random sampling method was applied for the selection of the
customers of different categories of consumer goods for this study.
The scheme of report was prepared in six chapters as follows:
� Introduction
� Review of Literature
� Theoretical Framework
� Analysis of Data (Impact of Branding on BPB and BE)
� Summary of Findings, Conclusions and Recommendations.
The major findings are reported below:
5.2 Demographic Profile of the Customers Selected
As many as 45.6 per cent of the customers belonging to the urban area,
and customers of semi-urban and rural areas formed more or less equal
minorities. Respondents’ gender wise differences were only small, but more than
74 per cent of the customers were married and very few customers were
unmarried. Similarly, most of the customers were highly educated and they were
well employed with high income also. Considering the age of the customers, the
majority had an age of 21-55. As many as 63 per cent of the customers were
chief wage-earners of the family and most of the respondents hailed from
families having 4-6 members. It is clear from the profile that the customers had
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no priority over any class of goods, i.e., they had no close association with
convenience or shopping or speciality goods.
5.3 Favourite Brands of Different Categories of Consumer Products
1. Customers of convenience goods category showed a product preference
for personal care products, soaps and detergents products, with 37 per
cent support for each product in the convenience goods category. And,
they showed a brand preference for “Colgate” with 27 per cent customer
support, followed by “Lux” with 12 per cent customer support.
2. A large majority of shopping goods customers preferred home
appliances with 81.8 per cent backing and they showed a brand
preference for Samsung with 18.2 per cent customer support followed
by Sony with 12.8 per cent.
3. In the speciality goods category, majority of customers expressed their
preference for “passenger car” with 78.2 per cent, and 23.3 per cent of
customers chose “Maruti”, and only 17 per cent chose “Toyota” as their
preferred brand.
4. Considering the brands of consumer products as a whole, it was found
that “Colgate” was the most preferred brand with 27 per cent overall
customer support, followed by “Maruti” with 23.3 per cent, “Samsung”
with 18.6 per cent, “Toyota” with 17 per cent, and “Sony” with 12.8 per
cent customer support. The next fifteen brands preferred by the
customers were Lux, Hyundai, Dove, Tata, Pears, Nokia, Philips, Hero
Honda, Mahindra, Cadbury, LG, V Guard, Royal Enfield, Preethi and
Titan respectively.
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5.4 Influence of Different Variables on Marketing of Branded Consumer Products
1. Brand advertisement, brand sales promotion, brand awareness, brand
knowledge, brand pricing, perceived quality, brand image, brand
purchase behaviour, brand association, brand satisfaction, brand
attachment, brand trust, brand loyalty, brand equity and brand extension
had more significant influence on the marketing of motor cycles than on
other consumer products. This was validated by highest mean score and
observing the F-value in the one - way ANOVA, which was statistically
significant in all these cases at 5 per cent level of significance
(p=.000<0.05).
5.5 Brand Consciousness of the Customers
1. A majority of customers pertaining to different categories of consumer
products were found brand conscious. The binomial test reveals that 615
(91.1 per cent) customers out of 675 respondents were brand-conscious
and only 60 (8.9 per cent) customers were not found brand-conscious
and this proportion was significant at 5 per cent level of significance
(p=.000<0 .05).
2. There was a close association between the place of customers selected
and the brand consciousness. Urban and rural customers were found
more brand conscious than semi-urban customers, as 93.5 per cent urban
customers, 93.6 per cent rural customers and 84.4 per cent semi-urban
customers were found brand conscious. The Pearson Chi-square
supported this association, as the value of the Chi-square was
statistically significant at 5 per cent level of significance (value of the
Chi-square 13.721 with p= 0.001< 0.05).
3. When the customers were analysed product-wise, no significant
association was found between the customers of each category of the
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consumer products selected and their brand consciousness. Though 91
per cent of convenience goods customers, 91.9 per cent of shopping
goods customers and 90.5 per cent of speciality goods customers
expressed themselves as brand conscious, the Pearson Chi-square did
not support this association, as the value of the Chi-square was
statistically not significant at 5 per cent level of significance (value of
the Chi-square. 310 with p= 0.857>0.5).
5.6 Major Purchase Decision Maker in the Family
1. It was understood that purchase decisions makers in the families of
Kerala customers in different places were the Chief Wage Earner
(CWE) followed by CWE and Spouse jointly. But the spouse alone of
the CWE was rarely found to be the decision maker. The Pearson Chi-
square supported this association, as the value of the Chi-square was
statistically significant at 5 per cent level of significance (value of the
Chi-square 26.818 with p= 0.001< 0.05)
2. The majority of the customers of all categories of consumer products
opined that the CWE was the major decision maker, followed by the
CWE and spouse jointly. There was also a close association between the
customers of various categories of consumer products selected and the
purchase decision maker. The Pearson Chi-square supported this
association, as the value of the Chi-square was statistically significant at
5 per cent level of significance (value of the Chi-square 31.626 with p=
0.000< 0.05).
5.7 Purchase Outlets Chosen by the Customers
1. It was indicated in general that a greater part (63.3 per cent) of
customers were purchasing branded products from exclusive showrooms
and only a minority from shopping malls (15.9 per cent), super markets
(11 per cent), factory outlets (5.2 per cent),other options (4.3 per cent)
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and internet options (4 per cent) in the case of branded products. The
area-wise categorical analysis showed that 63.3 per cent of urban
customers, 63.7 per cent of semi-urban customers and 62.8 per cent of
rural customers were purchasing branded products from exclusive
showrooms. The Pearson Chi-square did not support this association, as
the value of the Chi-square was statistically not significant at 5 per cent
level of significance (value of the Chi-square.17.167 with p=
0.071>0.05). Hence it is concluded that there was no significant
association between the customers of each area selected and the
purchase outlets of branded products.
2. The product wise analysis of customers categorically revealed that 63
per cent of convenience goods customers were purchasing branded
goods from supermarkets and 19 per cent of the customers from
shopping malls, while 17 per cent were using other options for branded
convenience goods.
3. Regarding shopping goods customers’ preponderance, 46.9 per cent of
them use exclusive show rooms, while a reasonable number of
customers (34.1 per cent) chose their required products from shopping
malls. Only a marginal number of customers opted for other alternatives.
4. The vast majority of speciality goods customers (96.5 per cent) were
purchasing branded products from exclusive showrooms and only a
small number of customers (3.5 per cent) used other options. There was
a close association between the customers of each category of consumer
products selected and the purchase outlets of branded consumer
products. The Pearson Chi-square also supported this association, as the
value of the Chi-square was statistically significant at 5 per cent level of
significance (value of the Chi-square.630.780 with p= 0.000<0.05).
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5.8 Reasons for Selecting Purchase Outlets
1. A majority of customers (50.5 per cent) choosing for outlets were found
to buy branded products owing to standard price and quality. Almost an
equal proportion of customers considered service & hospitality of the
seller (16.1 percent) and availability of goods (15.6 per cent) as their
criteria for choosing purchase outlets. Other notable criteria were as
follows: 15.6 per cent took into account availability of goods, 6.1 per
cent looked for credit facility, 5.5 per cent for nearness and 6.2 per cent
selected shops on account of popularity of the shops.
2. Categorically, 50 per cent of rural customers, 53.7 per cent urban
customers and 48 per cent of semi-urban customers were considering
standard price and quality for selection of shops. Close association
between the customers of each area selected and the selection of the
outlets for purchase of branded products was found from the analysis,
the Pearson Chi-square also supported this association, as the value of
the Chi-square was statistically significant at 5 per cent level of
significance (value of the Chi-square.26.462 with p= 0.003<0.05).
3. The product wise analysis revealed that the mainstream of convenience
goods customers (47 per cent) looked for availability of goods, whereas
46.1 per cent in the case of shopping goods and 58.4 per cent in the case
of speciality goods were considering standard price and quality for
selection of shops.
4. Surprisingly, the customers were least bothered about the service and
hospitality of the seller (2 per cent) and popularity of the shop (3 per
cent) for convenience goods and nearness of the shop (5.8 per cent) for
shopping goods and credit facility (zero per cent) for speciality goods. A
close association was found between the customers of each category of
products selected and the selection of outlets for purchase of branded
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products. The Pearson Chi-square test also supported this association, as
the value of the Chi-square was statistically significant at 5 per cent
level of significance (value of the Chi-square.178.133 with p=
0.000<0.05).
5.9 Year wise Use of the Most Favourite Brands by Customers
1. A major section of customers (31.9 per cent) used their favourite brands
for 5-7 years, 25.3 per cent for 2-5 years, 22.1 per cent for 7-10 years,
14.1 per cent for a period of up to 2 years, and 6.7 per cent for more than
10 years.
2. It was also found that the mainstream of the urban and semi-urban
customers (31.5 per cent and 38.5 percent respectively) used their
favourite brand for 5-7 years. But 29.8 per cent of the rural customers
used a brand for 2-5 years. Though a reasonable brand loyalty to the
brand was reflected among the customers, there was no close association
between the customers of each area selected and the duration of their
brand usage. The Pearson Chi-square did not support this association, as
the value of the Chi-square was statistically not significant at 5 per cent
level of significance (value of the Chi-square.14.622 with p=
0.067>0.05).
3. Apropos to the customers of different categories of consumer products
selected, a large number (43 per cent of the convenience goods
customers and 30.6 per cent of the shopping goods customers) were
found to use their favourite brands for a period of 2-5 years and 40.4 per
cent of the speciality goods customers used them for 5-7 years. A good
number of convenience goods customers (31 per cent) used their brand
for 0-2 years, while 29.1 per cent of shopping goods customers used a
brand for 5-7 years and 31.9 per cent of speciality goods customers used
their desired brand for 7-10 years. A strong brand loyalty was seen
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among the customers of each category of consumer products as there
was a close association between the customers of each category of
consumer products selected and the duration of their brand usage. The
Pearson Chi-square test also supported this association, as the value of
the Chi-square was statistically significant at 5 per cent level of
significance (value of the Chi-square 110.839 with p= 0.000<0.05).
5.10 Brand Switching among the customers
1. The binomial test revealed that a mammoth number of 477 respondents
(70.7 per cent) out of 675 respondents changed their brand preference
but only 198 (29.3 per cent) did not change their brand preference at any
point of time, and it was observed that this proportion was statistically
significant at 5 per cent level of significance, (p=.000<.05).
5.11 Reasons for Brand Switching
1. The customers changed their brand preference as follows: 22 per cent
changed their preference due to the reduction in quality of the product,
21.2 per cent due to the attractive sales offers, 18.4 per cent due to
advice of favourite persons, 17 per cent changed their brand for just for
change, 13 per cent customers changed on account of intensive
advertisements and 8.4 per cent due to the price volatility.
2. Area wise analysis also confirmed that reduction in quality, attractive
sales offers and advice of favourites were the prime factors for brand
switching, as 24.3 per cent of urban customers changed their brand
preference due to the reduction in quality, 26.4 per cent of the semi-
urban customers also considered reduction in quality for the change in
brand preference, and 27.9 per cent of rural customers on account of
sales offers. A close association was found between the customers of the
areas selected and the reason for the change in brand preference. The
Pearson Chi-square also supported this association, as the value of the
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Chi-square was statistically significant at 5 per cent level of significance
(value of Chi-square.38.175 with p= 0.000<0.05).
3. Product wise customer analysis reconfirmed that reduction in quality,
attractive sales offers, just for change and advice of favourites were the
predominant factors of brand switching. It was also found that 29.1 per
cent of convenience goods customers and 26.3 per cent shopping goods
customers changed their brand preference due to reduction in quality,
but 24.5 per cent of speciality goods customers changed their
preference on account of sales offers, and 24.1 per cent of the
convenience goods customers changed their brand preference just for
change, while 19.1 per cent shopping goods customers considered sales
offers and 23 per cent speciality goods customers changed their
preference due to the advice of favourite persons. There was clear
association between the customers of each area selected and the reasons
for the change in brand preference. The Pearson Chi-square test also
supported this association, as the value of Chi-square was statistically
significant at 5 per cent level of significance (value of Chi-square
20.737 with p= 0.023<0.5).
5.12 Dominant Elements of Brand Mystique among Customers
1. From among a number of elements of brand mystique considered, the
most significant elements were brand quality and brand popularity
followed by green image (ecological and health friendliness) of the
brand, and brand uniqueness to the customers of convenience goods,
shopping goods and speciality goods. This was validated by the highest
positive co-efficient in the MDS (Alscal) models.
5.13 Factors Motivating Customers to Choose Brands
1) Customers of convenience goods, shopping goods and speciality goods
were all found to be influenced by the quality and performance of the
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279
product to choose brands. The variation in the ranking of the
motivational factors was found to be statistically significant at 5 per cent
level of significance by observing the value of the Friedman test for
ranking these variables.
2) The MDS (Prefscal) model showed that the most significant and
influencing factor for the purchase of brands by the convenience goods
customer was its ease to use in one dimension and attractive
advertisement in the other dimension, as was evident from the highest
positive co-efficient in the MDS co-efficient matrix. Similarly, from the
two dimensions of MDS, the shopping goods customers considered the
ease to use and better after-sales service at the time of purchase. But
quality and performance of the product and the value for the money are
the factors influenced the customers to buy a speciality goods brand. All
these factors were found valid in the MDS coefficient matrix for each
category with high positive values.
5.14 Source of Brand Awareness
1. The majority of customers (46.1 per cent) had got brand awareness and
information from television, while a good percentage of customers (21.5
per cent) were using the press and print media for brand awareness, 3
per cent were using radio, and 8.9 per cent were using websites, The
source for 8.7 percent was displays and 11.9 per cent were informed by
word of mouth.
2. Customers’ analysis by area also revealed that 41.2 per cent urban
customers, 45.3 per cent semi-urban customers and 54.8 per cent rural
customers had got brand awareness and information from television,
while 23.4 per cent urban customers, 20.7 per cent semi-urban
customers and 19.1 per cent rural customers were using the press and
print media. There was also a close association between the customers
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280
of each area selected and the source of brand awareness. The Pearson
Chi-square also supported this association, as the value of the Chi-
square was statistically significant at 5 per cent level of significance
(value of the Chi-square 27.627 with p= 0.002<0.05).
3. Product-wise analysis reconfirmed that customers of convenience goods,
shopping goods and speciality goods were also relying upon television
and press and print media for their brand awareness. Word of mouth was
also found notable. The association between the customers of different
classes of the consumer goods selected and the source of brand
awareness was also supported by the Pearson Chi-square test, as the
value of the Chi-square was statistically significant at 5 per cent level of
significance (value of the Chi-square 30.877 with p= 0.001<0.05).
5.15 Responses to Sales Promotional Offers
1. A significant number of customers (44.9 per cent) were attracted by the
sales promotional offers of ‘price discounts’, 22.5 per cent by the ‘free
service’, 11 per cent by ‘cash refund’, 9 per cent by ‘gifts’, 8.6 per cent
by ‘combi offers’ and 4 per cent by ‘free sample’. ‘Price discounts’ were
found the most appealing sales promotional offer for majority of
customers.
2. Price discounts and free service were found more appealing to the
highest majority of customers from urban, semi-urban and rural areas.
Close association was found between the customers of the different
areas selected and the most appealing sales promotional offers. The
Pearson Chi-square test also supported this association, as the value of
the Chi-square was statistically significant at 5 per cent level of
significance (value of the Chi-square 30.981 with p= 0.001<0.05).
3. Correspondingly, the mainstream customers of the convenience goods,
shopping goods and speciality goods were attracted by the sales
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promotional offer of ‘price discounts’. A good number of speciality and
shopping goods customers were also attracted by ‘free service offer' and
convenience goods customers by ‘free samples’. The association
between the customers of each consumer product class selected and the
most appealing sales promotional offers was also supported by the
Pearson Chi-square test, as the value of the Chi-square was statistically
significant at 5 per cent level of significance (value of the Chi-square
206.815 with p= 0.000<0.05).
5.16 Level of Brand Purchasing Behaviour of Customers
1. The responses on brand purchase behaviour were found high and more
positive among the customers of speciality goods than among the
customers of shopping goods and convenience goods, as the mean score
of the responses on the speciality goods customers in this regard was
much higher than that of other categories of customers. Since the area
wise observed mean variation was statistically not significant in the
estimated marginal mean table, the area wise and product category wise
interaction model of Two-way ANOVA was applied and from the
interaction model it was found that mean variation was statistically
significant at 5 per cent level of significance in the interaction effect of
the test of between subjects effects in the cases of consumer goods class
as P=0.000<0.05 and the interaction of area and consumer goods
category, as P=0.001<0.05. Therefore, it was confirmed that the
customers of speciality goods staying in rural areas had high brand
purchasing behaviour, which reflected the effect of branding of the
consumer products launched in the rural market.
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5.17 Factors Affecting Brand Purchasing Behaviour of Customers
1) Brand Advertisement and Brand Purchasing Behaviour - Brand
advertisement had more influence on the customers of speciality goods.
The interaction effect of area and consumer goods category exposed that
brand advertisement influenced the purchasing behaviour of speciality
goods customers from rural area as the observed mean scores for the
responses of these customers varied significantly over the different
categories of customers. This observed mean score variation of different
categories of consumer goods and interaction of area and CGC was
statistically significant at 5 per cent level of significance in the Two-way
ANOVA General linear model(p=.001<0.05). Moreover, in the Dummy
Variable Regression Model, the beta coefficient showed that brand
advertisement affected the brand purchasing behaviour of customers, and
based on the intercept at different levels and the associated significant t
values of the model (p=0.000<0.05), it was found that brand
advertisement had an impact on the brand purchasing behaviour of
customers of speciality goods and this model was found more valid and
applicable to these customers than to the customers of other categories.
Therefore it is confirmed that brand advertisement has high influence on
the rural customers of speciality goods and BA has more impact on BPB
of the speciality goods customers.
2) Brand Sales Promotion and Brand Purchasing Behaviour – Semi-
urban customers and customers of speciality goods responded positively
towards brand sales promotion offers, as the mean score of the responses
of the selected customers in this regard was higher than that of other
categories of customers. This was tested by the estimated marginal mean
variation and the significance level of F test in the ANOVA model. It was
found that the mean variation is statistically not significant at 5 per cent
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283
level of significance in the test of between subjects effects in the cases of
area as P=0.104>0.05. But the mean variation is statistically significant at
5 per cent level of significance in the test of between subject effects in the
cases of consumer goods class as P=0.000<0.05 Therefore, it is
confirmed that the speciality goods customers irrespective of their area of
residence were responding highly towards brand sales promotion.
Similarly, the impact of the responses of the customers towards the brand
sales promotion on the brand purchasing behaviour of the customers was
examined by applying the Dummy Variable Regression Model. From this
model, it was found that brand purchasing behaviour of the customers
was affected by their attitude towards brand sales promotion in the
market. This was further validated by the beta coefficient and the
significant associated t values in the model with p=0.000<0.05. At the
same time, based on the intercept at different levels, this model was more
valid and applicable to the customers of speciality goods irrespective of
their area. Therefore it is confirmed that the speciality goods customers
irrespective of their area of residence were highly influenced by brand
sales promotion and BSP has more impact on the BPB of the speciality
goods customers.
3) Brand Awareness and Brand Purchasing Behaviour - The level of
brand awareness was found high among the customers of speciality
goods. This was validated in the Two-way ANOVA General Linear
Model with statistically significant observed mean score variation based
on the category of consumer goods they purchased and the associated F
values. Though the level of brand awareness was high among the
customers of semi-urban areas also, the mean variation was statistically
not significant at 5 per cent level of significance in the test of between-
subjects effects in the cases of area. Similarly the Dummy Variable
Multiple Regression Model indicates that brand awareness affected the
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284
brand purchasing behaviour of the customers of speciality goods more
than the brand purchasing behaviour of other categories of customers.
Based on the intercept of the model at different levels, this was validated
by the beta coefficient and the associated significant t values (with
observe p=.000<.05 in all cases). Therefore it is confirmed that the
speciality goods customers irrespective of their area are showing more
brand awareness and brand awareness has the highest impact on the BPB
of the speciality goods customers.
4) Brand Knowledge and Brand Purchasing Behaviour - The brand
knowledge of the customers of speciality goods is found to be more
positive than that of the customers of convenience goods and shopping
goods. At the same time, rural customers of the consumer products also
had a positive attitude towards the brand purchase behaviour. This could
be confirmed with the highest observed mean score of the responses of
the customers according to the category of consumer goods they
purchased and their area of residence. The variation in the observed mean
score of the former in this regard was statistically significant in the Two-
way ANOVA General Linear model with p=000<0.05. But the variation
in the observed mean scores of the latter in this regard was not
statistically significant in the Two-way ANOVA General Linear model
(p=.796>0.05). Moreover, this positive brand knowledge of the customers
affected their brand purchasing behaviour very much, as the Dummy
Variable Multiple Regression Model was valid and the associated beta co-
efficient and the t values were statistically significant (p=0.000<0.05).
Based on the intercept in the model at different levels, this model was
found more valid and applicable to the customers of speciality goods than
to the customers of other categories of goods. Therefore it is confirmed
that the speciality goods customers have more brand knowledge
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irrespective of the area and BK has more impact on the BPB of the
speciality goods customers.
5) Brand Pricing and Brand Purchasing Behaviour - The expectation of
the brand pricing policy of consumer products is very high among the
customers of speciality goods than among those of other product category
formats. The area wise observed mean variation was statistically not
significant in the estimated marginal mean Table (P=0.539>0.05). At the
same time, the mean variation was statistically significant at 5 per cent
level of significance in the test of between subject effects in the cases of
consumer goods, as p=0.000<0.05. Further, the expectation of brand
pricing and its impact on the brand purchasing behaviour of the
customers was measured by applying the Dummy Variable Regression
Model in which the beta co efficient and the t values of each predictor
variable were found statistically significant at 5 per cent level of
significance (p=0.000<.05). This showed that the brand purchasing
behaviour of the customers of the consumer products industry was
affected by their expectation on the brand pricing policies of the
companies. Based on the different levels of intercepts in this model, it was
also found that this model was more valid and applicable to the customers
of speciality goods. Therefore it is confirmed that the speciality goods
customers are more brand price sensitive irrespective of their area and
also BP has more impact on the BPB of the speciality goods customers.
6) Perceived Quality and Brand Purchasing Behaviour - The perception
of customers about brand quality was examined. By taking the variable
product category wise, the perceptions of the selected customers about the
brand quality were examined and it was found that the perception of the
customers of speciality goods about their quality was very high and
positive when compared to the perception of other categories of
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customers. This could be validated by observing the statistically
significant Two-way ANOVA test and the significance level of each
variable in the test of between-subjects effects according to the category
of consumer goods (p=0.000<0.05). Though the brand quality perception
of semi-urban customers was found higher than other areas, the mean
variation was statistically not significant at 5 per cent level of significance
in the test of between-subject effects in the case of area as p=0.449>0.05.
Therefore, it is confirmed that the brand quality perception was high in
the case of speciality goods customers irrespective of their area of
residence. In addition to this, the perception of the selected customers
about quality and its impact on their brand purchasing behaviour was
estimated by applying a Dummy Variable Regression Model in which it
was found that the beta coefficient of each variable and the associated t
values were statistically significant at 5 per cent level of significance (p <
0.05 in all cases). At the same time, based on the intercepts of the model
at different levels, it was also found that this model was more valid and
applicable to the customers of speciality goods than to other categories of
customers. Therefore it is confirmed that the speciality goods customers
irrespective of their area have more perception on brand quality and PQ
has more impact on BPB of the speciality goods customers.
7) Brand Image and Brand Purchasing Behaviour – While considering the
influence of brand image of consumer products in the minds of the
customers it was found that the customers of speciality and the customers
of rural areas showed a higher level influence of brand image of the
consumer products launched by different companies than other categories
of customers. This could be found valid in the Two-way ANOVA with
statistically significant value for observed mean variation in the estimated
marginal means table according to the category of consumer goods (p=0.
000<.05). But the mean variation was statistically not significant at 5 per
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cent level of significance in the test of between-subject effects in the case
of area as p=0.489>0.05. In addition to this, the impact of brand image on
the brand purchasing behaviour of the customers was examined with
Dummy Variable Regression Model and from the model it was found that
the brand image of a product affects the brand purchasing behaviour of the
customers except in the case of the customers of convenience goods and
this was validated by the beta coefficients and the associated significant t
values in the model. Further, based on the intercepts of the model at
different levels this model was found more valid and applicable to the
customers of speciality goods than to the other categories of customers.
Therefore it is confirmed that the speciality goods customers irrespective of
their area of residence have more sensitivity on brand image and it has
more impact on the brand purchase behaviour of the speciality goods
customers.
5.18 Level of Brand Equity Perception of Customers
1) Semi-urban customers showed somewhat better brand equity perception
than the customers of urban and rural areas, as the mean score is high in the
mean table (36.252). But, the mean variation is statistically not significant
at 5 per cent level of significance in the test of between-subjects effects in
the case of area as p=0.055>0.05. The speciality goods customers were also
showed high brand equity perception, as the mean scores are very high in
this regard (40.951) and the mean variation was statistically significant at 5
per cent level of significance in the test of between-subjects effects in the
case of consumer goods category as P=0.000<0.05. Therefore, it is found
that the speciality goods customers irrespective of their area of residence
showed high brand equity perception.
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5.19 Factors Affecting Customer-based Brand Equity
1) Brand Image and Customer-based Brand Equity - The brand equity of
speciality goods customers was found to be affected highly by the brand
image. This is found statistically valid by observing the positive beta
coefficients and the associated t values in the Dummy Variable Multiple
Regression Model and based on the intercepts of the model at different
levels. This model was found more valid and applicable in the case of
rural customers and the customers of speciality goods than among the
customers of other categories. Therefore it is found that BI has more
impact on the customer-based brand equity of speciality goods.
2) Brand Association and Customer-based Brand Equity - Urban
customers had more brand association than the customers of the other two
regions, as the mean score was very high in the mean table. Similarly,
speciality goods customers also showed high brand association, as the
mean scores were very high in this regard. This was found valid in the
Two-way ANOVA as the mean variation was statistically significant at 5
per cent level of significance in the test of between subject effects in
respect of area as p=0.043<0.05, and the mean variation was statistically
significant at 5 per cent level of significance in the test of between-
subjects effects in the case of consumer goods class also as p=0.000<0.05.
Therefore it was confirmed that the speciality goods customers residing in
urban area had more brand association. In addition to this, the brand
association of selected customers and its impact on their brand equity is
estimated by applying a Dummy Variable Regression Model in which it
was found that the beta coefficient of each variable and the associated t
values were statistically significant at 5 per cent level of significance. At
the same time, based on the intercepts of the model at different levels, it
was also found that this model was more valid and applicable to the
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customers of speciality goods than to other categories of customers.
Therefore it is confirmed that the speciality goods customers from urban
area have more association with brand and brand association has more
impact on the customer-based brand equity of speciality goods.
3) Brand Satisfaction and Customer-based Brand Equity – In respect of
the level of brand satisfaction of consumer products in the minds of the
customers, semi-urban customers showed higher brand satisfaction than the
customers of other two regions, as the mean score was comparatively high
in the mean table. Similarly, speciality goods customers showed high brand
satisfaction, as the mean scores were very high. But the mean variation was
statistically not significant at 5 per cent level of significance in the test of
between-subjects effects in respect of area as p=0.594>0.05, but the mean
variation was statistically significant at 5 per cent level of significance in
the test of between-subjects effects in the case of consumer goods class as
p=0.000<0.05. Therefore it was confirmed that the speciality goods
customers had more brand satisfaction irrespective of their area. Further,
the impact of brand satisfaction on brand equity was tested by applying the
Dummy Variable Regression Model, which revealed that the beta co-
efficient of each variable and the associated t values were statistically
significant at 5 per cent level of significance based on the intercept of the
model at different levels. This model was more valid and applicable to the
speciality goods than to the other categories. Brand satisfaction was found
to have more impact on the customer-based brand equity of the speciality
goods. Therefore it is confirmed that the speciality goods customers
irrespective of their area have more brand satisfaction and also found that
the brand satisfaction has great impact on the customer-based brand equity
of the speciality goods.
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4) Brand Attachment and Customer-based Brand Equity - From the
Two-way ANOVA model applied for testing the mean score variations of
the responses of the selected customers about the level of brand
attachment, it was found that the customers of speciality goods had more
attachment towards the brands of the consumer products they purchased,
as the mean score variation was found statistically significant in the
model. This was validated with p=0.000<0.05. From the Dummy
Variable Regression Model, it was found that brand attachment had more
impact on brand equity among the speciality goods customers since the
beta coefficient of each variable and the associated t values were
statistically significant at 5 per cent level of significance based on the
intercept of the model at different levels. Therefore it is confirmed that
the speciality goods customers irrespective of the area have more brand
attachment. It is also found that brand attachment has more impact on the
customer-based brand equity of the speciality goods.
5) Brand Trust and Customer-based Brand Equity – As per the
application of Two-way ANOVA model for testing the mean score
variations of the responses of the selected customers about the level of
brand trust, it was found that the semi-urban customers and the customers
of speciality goods had more trust towards the consumer product brands,
as the mean score variation was found statistically significant in the
model. This was further validated by the F values with p=0.009<0.05 in
respect of area and P=0.000<0.05 in the test of between-subjects effects
in respect of the consumer goods class. The impact of brand trust on
brand equity was also examined by applying the Dummy Variable
Regression Model and it was found significant, with t value at 5 per cent
level. Therefore it is confirmed that the semi-urban customers of
speciality goods have more trust on brand. It is also found that brand trust
has more impact on customer-based brand equity of speciality goods.
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6) Brand Loyalty and Customer-based Brand Equity - With regard to the
brand loyalty of the different categories of the selected customers, it was
found that the semi-urban customers and the customers of speciality
goods had more loyalty towards their consumer product brands, as the
area wise and product wise observed mean score variation of the
responses of the customers was statistically significant in the Two-way
ANOVA General Linear Interaction Model. It could also be observed
from the Dummy Variable Regression Model that the regression was
fairly good with 61 per cent explanation of the variation in BE and this
explanation was statistically valid as the associated F value is significant
(p < 0.05). All the coefficients were also significant as the associated t-
values were significant (p < 0.05 in all cases). These findings clearly
explained the relationship between BL and BE and such a relationship
was seen to exist at different levels. The model was more applicable and
valid in the case of customers of speciality goods followed by the
customers of shopping goods and convenience goods. Brand loyalty has
more impact on brand equity among speciality goods customers.
Therefore it is confirmed that the semi-urban customers of speciality
goods show high brand loyalty and the BL has more impact on the CBE
of speciality goods.
5.20 Customers’ Willingness to Accept Brand Extension
1. The responses on brand extension was higher among the customers of
speciality goods than among the customers of shopping goods and
convenience goods, as the mean score of the response of the speciality
goods customers in this regard was higher than that of other categories of
customers. Semi-urban customers also expressed more willingness to
accept brand extension than the customers of urban and rural areas. The
mean variation was found statistically significant at 5 per cent level of
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significance in the interaction effect of the test of between-subjects
effects in the cases of consumer goods class as p=0.000<0.05 and the
interaction of area, as p=0.013<0.05. Therefore it was confirmed that the
customers of speciality goods staying in semi-urban areas had more
willingness to accept brand extension of consumer products which
reflected the branding effect of the consumer products launched in the
market.
5.21 Impact of Customer-based Brand Equity on Brand Extension
The impact of customer-based brand equity on customers’ willingness to
accept brand extension of the selected consumer products was estimated by
applying a Dummy Variable Regression Model, which showed that the
beta coefficient of each variable and the associated t values were
statistically significant at 5 per cent level of significance (p=0.000<0.05).
At the same time, based on the intercepts of the model at different levels, it
was also found that brand equity had impact on customers’ willingness to
accept brand extension and this model is more valid and applicable to the
customers of speciality goods than to other categories of customers. It was
confirmed empirically that customer-based brand equity has more impact
on customers’ willingness to accept brand extension of speciality goods.
5.22. Effect of Change of CBE, on the Change of BS, BA, BT and BL
1) The change in the probability of BSAT, BATTACH, BT, and BL shown
by the different categories of customers was affected by the change in the
probability of CBE. This could be validated by observing the significant
chi-square values obtained in the Omnibus test of model coefficients,
Nagelkare R square, Chi-square value in the Hosmer Lemeshow test and
significant beta co-efficients and Exp (B) in the Logistic Regression Model.
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5.23 Testing of Hypotheses
1. There is no difference between observed distribution and binomial
distribution of consumer opinion about the brand consciousness with
parameter.5
This hypothesis was tested with binomial test and the sig value was found
statistically significant at 5 per cent level of significance with
p=0.000<0.05. Therefore, this null hypothesis is rejected with the
conclusion that there is difference in observed and binomial distribution
of consumers’ opinions on brand consciousness with parameter .5.
2. There is no association between the selection of purchase outlets by
customers and their area of residence
This hypothesis was tested with the Chi-square, but the Pearson Chi-
square did not support this association, as the value of the Chi-square was
statistically not significant at 5 per cent level of significance with p=
0.071>0.05. Therefore, this hypothesis is accepted and there is no
significant association between the selection of purchase outlets by
customers and their area of residence.
3. There is no association between the reasons for customers brand
switching and their area of residence
This hypothesis was tested with the Chi-square, and the value of the Chi-
square was found significant at 0.5 per cent level of significance with
p=0.000<0.05. Therefore, this hypothesis is rejected with the conclusion
that a close association was found between the reasons for customers
brand switching and their area of residence.
4. There is no difference across the preferences of the customers of different
categories of products associated with the factors that motivate them to
purchase consumer goods.
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The Friedman’s test for several related samples was used to test the
difference in preferences of the customers associated with the twelve
factors that motivated them to purchase different types of brands. The
Chi-square statistics provided different values for different categories of
selected customers, which were significant at 5 per cent level of
significance with p=0.000<0.05 in all cases. Therefore, this null
hypothesis is rejected with the conclusion that there is significant
variation in the factors that motivate the customers to purchase brands, ie.,
the motivating factors to purchase of brands are different for different
categories of customers.
5. The brand purchase behaviour of the customers of all the categories of
consumer products is not affected by the brand image.
The Dummy Variable Multiple Regression Model was constructed to
prove this hypothesis and from the validity of the model, the model was
found valid and the associated t values of each predictor variable that
explains the brand purchasing behaviour was statistically significant with
positive beta coefficients. At the same time, the different levels of
intercepts of the model showed that the brand image affecting the brand
purchase behaviour of the customers of all the categories of consumer
products. This conclusion is made by rejecting the null hypothesis.
6. The change in the Brand Satisfaction, Brand attachment, Brand Trust and
Brand Loyalty does not make any change in Customer-based Brand Equity
The Logistic Regression Model was applied to test this hypothesis. Based
on the significant values of Chi-square in the Omnibus test of model co-
efficients, Nagelkare R square, Chi-square value in the Hosmer Lemeshow
test and the significant beta coefficients and Exp (B) model, this hypothesis
is rejected with the conclusion that BE is always affected by the
BS,BATTACH, BT and BL of the customers and that any change in the
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BS,BATTACH, BT and BL changes the CBE of the customers
correspondingly.
7. The customers’ willingness to accept brand extension is not affected by the customer-based brand equity.
The Dummy Variable Multiple Regression Model was constructed to prove
this hypothesis and from the validity of the model, the model was found
valid and the associated t values of each predictor variable that explains the
brand extension was statistically significant with positive beta coefficients.
At the same time, the different levels of intercepts of the model showed
that the customer-based brand equity affecting the customers’ willingness
to accept brand extension of different categories of consumer products.
This conclusion is made by rejecting the null hypothesis.
5.24 Conclusions
The consumer product industry is the biggest and most highly dynamic and
growing industry in the world with a large number of customers of different
categories of products who change their preferences frequently. Their taste, need,
behaviour and purchasing style are always different. These customers are highly
sensitive to the purchase and use of their products, especially the customers of
convenience goods. At the same time, this industry is the one which faces more
competition than any other industry in the world. As the customers are more brand
conscious, the consumer goods companies have to look into the brand purchasing
behaviour of the customers for creating satisfaction, attachment, trust and loyalty
in the minds of the customers that these companies are fulfilling their
responsibility by designing, developing, producing and launching brands.
The brand purchase behaviour of branded consumer goods is built by the
basic fundamental building blocks of brand awareness, brand knowledge, brand
price, perceived quality and brand image. The customer-based brand equity is
based on the blocks of brand association, brand satisfaction, brand attachment,
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brand trust and brand loyalty. The outgrowth of brand loyalty also emerges in the
form of customer-based brand equity as a marketing transformation of brand
association, brand satisfaction, brand attachment and brand trust. The predominant
factors of these elements bring out the elementary regulations in the process of
customer perceptions, attitudes and preferences of consumer goods.
In all the consumer behavioural aspects, success or failure of brand trust
and loyalty decides the marketing prominence of any product. The measure of
customer-based brand equity is indispensable to identify the trait prominence of a
brand as well as its volume of sales. The customer-based brand equity is vital in
the study as a powerful estimator to predict the effects of brand extension also. In
this context, the following conclusions have been made from the data collected
and analysed, and from the findings of the study.
1) The analysis of area wise, age wise and other profiles of the customers in
Kerala revealed that the customers in Kerala gave no priority to any class
of goods, ie., convenience goods or shopping goods or speciality goods.
2) Customers of convenience goods showed a product preference of personal
care products and soap and detergents, and their favourite brand was
Colgate. The shopping goods customers indicated their product affinity
with home appliances with brand preference of Samsung and the speciality
goods customers revealed their product preference for passenger car with
Maruti as their favorite brand. But colgate proved to be the most favourite
brand while considering the whole categories of goods.
3) The selected variables have significant influence on motor cycles than on
any other consumer products.
4) Customers of different categories of consumer goods in Kerala are brand
conscious, particularly rural and urban customers shown more brand
consciousness. But there was no significant association between customers
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of each category of consumer products selected and their brand
consciousness.
5) Area wise and product category wise analysis indicated that the chief wage
earner was taking major purchase decisions in the family, followed by
CWE and spouse in the families of Kerala
6) No significant association has been found between customers of each area
and the purchase outlets to buy branded consumer products, but customers
of each category of products showed their preference over purchase outlets
significantly. Customers of convenience goods found their place for
branded products in supermarkets, shopping goods customers bought their
brands from exclusive showrooms and malls. However, the speciality
goods customers dealt with exclusive showrooms for their brands.
7) The standard price and quality and availability of goods are the factors
considered by the urban, semi-urban and rural customers in deciding their
purchase outlets. The customers of convenience goods also considered
availability of goods and the customers of shopping and speciality goods
considered standard price and quality for the selection of purchase outlets.
8) There is no close association between the customers of different areas of
Kerala and the duration of their brand usage. But the customers of different
categories of products showed a significant association with the duration of
brand usage. The customers of convenience goods used a brand up to 5
years and those of shopping goods used their favourite brand up to 7 years
and the speciality goods customers used their preferred brand up to 10
years. This indicates a strong brand loyalty of customers to their brands.
9) Customers are tempted to change their brand preference at any point of
time. Reduction in quality, attractive sales offers and advice of favourites
are considered as the major factors for brand switching by rural, urban and
semi-urban customers of convenience, shopping and speciality goods.
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10) Brand quality and the brand popularity followed by green image of the
brand and brand uniqueness are the elements which give mystique
(strength) to brands in two dimensions of the customers of convenience
goods, shopping goods and speciality goods.
11) Quality and performance of the product are the major factors that motivate
customers to choose a brand, as per the Friedman Test. But MDS (Prefscal)
model indicates that ease to use and attractive advertisements are the
factors that motivate customers of convenience goods and ease to use and
better after sales service are the motivating factors for shopping goods. But
the quality and performance and value for money influenced customers of
speciality goods to buy their speciality goods brands.
12) Television is the major source of brand awareness of the customers
irrespective of their area and product categories, followed by print and
press, word of mouth etc. Sources like radio, websites and displays are
found trailing to capture the minds of customers.
13) The most appealing sales promotional offer is price discounts for customers
of various places and for different categories of products. Free service
offers and cash refund offers are also found appealing to the different
customer categories. Gifts, comby offers and free samples are found not
appealing.
14) The BPB is high and positive among the customers of speciality goods
staying in rural areas, which reflects the effects of branding of speciality
consumer products in the rural market.
15) The impact of various identified factors such as BA, BSP, BAWRE, BK,
BP, PQ and BI on BPB is measured and it is revealed that all the factors
have a significant impact on BPB of the customers of specialty goods.
16) The effect of the identified factors on customers is also measured. BA has
high influence on rural customers of speciality goods. The customers of
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speciality goods from urban area have more BASSN and semi-urban
customers of speciality goods have more BT and BL. The customers of
speciality goods irrespective their area of residence has high level of
BAWARE, BK, BS and BATTACH and the factors such as BSP, BP, PQ,
and BI have more influence on speciality goods customers irrespective
their area of residence.
17) The customers of speciality goods irrespective their area of residence
showed high level of brand equity perception and the identified factors
such as BI, BASSN, BS, BATTACH, BT and BL have a significant impact
on CBE of speciality goods.
18) Customers are willing to accept the extension of brands of those having
more brand equity. The customers of speciality goods living in semi-urban
area expressed more acceptance on brand extension than did the customers
of convenience goods and shopping goods.
19) Any change in the BS, BATTACH, BT and BL of the customers of the
consumer goods will affect their CBE correspondingly. The probability of
change in these predictor variables may affect the probability of the change
of CBE considerably.
5.25 Recommendations
1. Brands must be constantly refined through the use of techniques like
introducing variants, regular quality checkups, product modification and
change in the design of packages. The effect of updation in the branding
techniques can be measured using marketing research. Since the
availability of goods, quality and standard price also play a key role in the
selection of purchase outlets, the manufacturers should ensure that quality
products are made available to the customers as and when required.
Promotion also has a marginal role and this should not be neglected,
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especially in the light of the growing influence of the whole family in the
shopping of consumer products.
2. Customers switch their brand preference mainly due to reduction in quality
of the brand. Hence, manufacturers should take every effort to maintain
their brand quality by strengthening quality assurance department along
with appealing sales promotional offers to exert a pull on the minds of the
customers which in turn makes for popularity of the brand. Then the
customers will advise and recommend others to buy the brand. Though
offers like price discounts, free service and cash refund are the most
appealing sales promotional practices, such promotions should be used
very cautiously as frequent discount offers affect the brand image and trust
negatively and ultimately resulting in erosion of brand equity.
3. The dimensions of brand purchase behaviour and brand equity have more
impact on the customers of passenger cars and motorcycles. The companies
engaged in branding of convenience goods such as soaps & detergents,
personal care products, food & beverages, other essentials and shopping
goods such as home appliances, personal service products, etc., have to
give more attention to appealing advertisements through popular media and
intelligent sales promotional offers at proper timings to create good
awareness and knowledge and maintain superior quality and standard price
to boost brand image, so as to create a brand purchase behaviour to build
brand association, satisfaction, attachment, trust and loyalty. Further, the
use of good brand names, packages, sensory and emotional appeals
ensuring perceived quality conditions by way of dynamic distribution
management is recommended.
4. All the efforts that the companies make for branding in modern marketing
must be directed primarily to the ultimate consumers. Periodic market
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surveys must be made to understand the changing consumer trends and
preferences before implementing any branding activities.
5. Nowadays, most of the commodities are packed in polythene or packaging
which is not eco-friendly. In highly populated countries like India, it
creates heavy pollution. Since the green branding concept is emerging in
our country, there is a need to change the packaging materials used by
manufacturers and marketers. Instead of polythene packaging, they can use
some other materials like paper, toughened card board, etc.
6. Selling the commodities of less quality with huge promotional offers is
common during festive seasons. Since the customers are much brand
conscious, a little disagreement may tempt the customers to switch their
brand preferences. The manufacturers and marketers should take due care
to prevent such activities in the market. It will build the image of the brand
and the company also.
7. Manufacturers should concentrate on eco-friendly and health friendly
products; because in the changing environmental scenario such as
emerging green consciousness, resistance to pollution, global warming etc.,
there is need to avoid products which are not eco-friendly. It is observed
from the respondents that the chemical-based products such as soaps &
detergents, personal care products, other essentials consist of pain balms
and antiseptic lotions etc., are creating health problems on its long usage
and also home appliances, passenger cars and motor cycles make energy
loss and pollution. As it is essential to protect the future generation, the
manufacturers should create and stimulate a research and development
department for inventing environment-friendly products. The government
also can consider providing some kind of relaxation like tax incentives and
business tax credits, reduced duties, tariffs, green business loans
(subsidised funding) for manufacturers of eco-friendly products.
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8. The information provided by the manufacturers in the labels and
advertisements should be very genuine and reliable. There is a need for full
fledged information which is essential for the building of more brand
equity to facilitate the extension of their brand.
9. In the case of convenience goods, the customers have to identify the
medical fitness of the products used by them because it is observed from
the respondents during the survey that some commodities are not suitable
for some kind of people on medical grounds. They should be very careful
in selecting and changing of brands. If they want to change a particular
brand which is used by them for a long period, it needs medical advice to
protect them from allergy and other medical problems.
10. The customers should be very cautious in selecting the brands. They have
to buy a brand which is most appropriate for them because most of the
goods are frequently purchased and every purchase requires investment. It
is essential to collect information about the various brands available in the
market and find the most suitable one. It will be helpful for them in
avoiding fake goods. While purchasing commodities they have to verify
the dates of manufacturing and expiry also.
11. Presently most of the manufacturers are offering toll-free phone numbers or
prepaid envelopes attached to the product packaging for the customers to
express their opinions, views and suggestions freely. The customers should
improve the habit of expressing their opinions to the manufacturers. It will
be helpful for the manufacturers to improve the product quality according
to the requirements of the customers and render better service.
12. The companies interested in extending their brand to other product
categories and finding the ways of stimulating the users of a brand to
recommend it to others should pay special attention to the customer-based
brand equity dimensions linked with the brand image, brand association,
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brand satisfaction, brand attachment, brand trust and brand loyalty. The
development of these dimensions therefore offers a firm means of
generating positive communications towards the brand. Managers of
brands should therefore manage and seek to maximise customer-based
brand equity. The natural, long term outcome of this would be increased
profitability.
5.26 Scope for Further Research
1. Brands are the key players to attract consumers in the modern marketing
world. The consumers are willing to buy anything and pay more if it is
branded. So the customer-based brand equity concepts may be tested in
other consumer non durables also.
2. The current study is based on the customer-based perspective of brand
equity. The financial perspective and brand extension approach of brand
equity may be tested in the FMCG.
3. Various brands of different products are selected for the present study. So
there is wide scope for measuring the brand equity from the customer
perspective of some specific brands.
4. The present study is built upon three product categories for research. An
elaborate study on customer-based brand equity can be conducted in each
particular product category.
5. The concept of customer-based brand equity can be extended and this type
of study can be made in the service sectors such as financial institutions,
hotels and so on.
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