1.1.Background
Now a days the world truth has become to be more vigilant and more attractive to something stimulating anything which shows them their status or personality or morals. Towards get perceived individual choose that brand which they think that more comfortable with it. The efforts which marketing manager stood and building a decent attempt to accomplish and they have succeeded in a few courses by carrying quality to satisfy their need. By taking this step many companies are on offering promotions of their products and goods to create brand loyalty. An arrangement of brand brand property and liabilities joined to a brand , its name and quality that upgrade or take away from the quality gave by a thing or organization to a firm
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As a standout among the most prominent and visual component of brands encourages a customer to purchase product and increase loyalty. A brand is measures as an old brand when shopper start to disregard it. This is not the ground that the brand items need quality , but rather just on ground that they taste, sound or look old contrasted with the new one. Brands were the subject of a lots of examination, including the ideas of brand identity, brand equity, advertising and sales promotions and lastly brand loyalty. Once the customer is fulfilled by the quality then it converts a customer into a loyal customer. Brand loyalty is the add on or deep assurance to a brand. Brand loyalty strength be conceived is different subjects, for example see around an collaborative point of interest, that attentive repetition gaining conduct. More established brands hint at short coming when their image information structures starts to dissolve : brand awareness and brand loyalty deteriorated (eg positive affiliations lose their quality and/or uniqueness: negative affiliation are connected to the brand ). These credits join to develop brand name and once it is effective then it makes brand equity for the brand. (kumar, desh and pawar , 2013) (mullar , locher and cretaz 2013 …show more content…
This study has been significantly impact for the fast food chains in Pakistan in order to gain insightful findings about brand loyalty and overall brand equity.
1.3. Research Objective
The main objective of this research is to explain the determinants of brand equity for local and international fast food chains operating in Karachi Pakistan to help current and potential fastfood chains on how to maximizing brand equity and how to be more beneficial from them. This will be an easy and effective way for the current and potential fast food chains currently in Pakistan or planning to start their operations in Pakistan that what factors should be focused in order to increase their profits.
1.4. Research Question
The question for this research is:
• What are the determinants of brand equity in international fast food chains in Karachi
Mise, J. K., Nair, C., Odera, O., & Ogutu, M. (2013). Determinants of Brand Loyalty and Product Quality of Soft Drink Consumers. Asian Journal of Business and Management , 1 (1), 8-13.
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
...of brand equity in an organizational-buying context. Journal of Product & Brand Management, Vol. 6(6), pp. 428-437.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
The main concept of brand loyalty has been approached from three different factors which is behavioral, attitudinal and composite loyalty. The researchers have their own assumption or known as behavioral view which they assume that the loyalty of a guest toward a brand is based on the repeat transactions occur. The study of O’Malley (1988) show that this approach provides a more realistic picture on how well the brand is performing compare to other competitors. However, this approach have been criticized because unable to differentiate between spurious loyalty and true loyalty.
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
The area under discussion of the project researched is to understand the relationship between how Hamburgers are served and how will it affect brand (fast food restaurants) image in the eyes of customers, focusing on customer traffic and sales. The action standard for the market research is placed at 80 percent or above to go. This research is conducted primarily on a living human being who likes to eat hamburger on any traditional time by asking questionnaire personally and collecting primary data to make better decision for the given objective. Subsequently, starting from the beginning two demographic segmented audiences were being surveyed depending on their age and gender. There were two age groups specifically targeted for the survey which
The review of relevant literature is to identify what's brand awareness and how to carry out in strategic marketing, and consumers' behavior. The study prove that the significant factors on brand awareness as a perception of product, service, and image of the company and has a tremendous effect on consumers’ evaluation of system results. From reading all of the relevant journals, it is understandable that the significant factors on building a successful brand image and awareness is consumers and their relationship with the brand, company, service and the product. Brand awareness is the vital importance to marketing strategy and marketing communications because it links customer behavior to firms’ financial metric. Keller (2001), noted, customers’ reaction toward brand awareness is associated profitably brand equity.
The source of the brand features is in a connection between customers and companies that sell services or products. Consumers who choose a specific company fundamentally acknowledge to prefer that brand more than other brands rooted from the recognition of the brand’s worth.
Marketing cost is a major expenditure for the firms. In order to attract new customers the firms need extensive marketing strategies and tool, such as; cost of advertising, the cost of a promotional campaign, the cost of personnel selling to entertain new prospects, and cost of inefficient dealings during the customers’ learning process and so forth (Graham, 1995). In contrast, for loyal and older customers efficiency and effectiveness achieved due to less marketing issues. The loyal clients usually do not much care about the product or service promotion rather they focus on the caliber. Thus, through maintaining quality and satisfaction the firms can retain the loyal customers for long time and thus, the loyal customers ensure the sustainability of the
By communicating a new value proposition, brand management aims to change the brand’s former brand percep-tion and link the new brand image to the new position. Of course, also within re-positioning, new attributes have to demonstrate points of difference and superi-ority. By emphasizing the brand’s uniqueness, management enables the cus-tomer to perceive higher brand value in their mind (cf. Friis 2009, p. 19). If the brand elements are not relevant for the target audience or the brand proposition was not chosen correctly, brand identity will not be perceived as credible and communication will fail. Therefore, companies have to analyse their target groups accurately before choosing new attributes, which they want to communicate. Management has to find out what are the target audience’s needs, wants and desires and what do they believe in. The organizations values should in best case overlap with the values of the audience. New brand attributes have to follow specific communication objectives, which are focussed on changing the custom-ers’ perception (cf. Feddersen 2013, p.
This article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers. The third step involves invoking positive brand response while the fourth one involves engaging the customers so as to build a brand affiliation aimed at enhancing active brand loyalty. However, some building blocks are requisite in order to achieve these steps. These...
The customer-base potency is achieved by creating a brand image and customer loyalty, which is considered as the core dimension of brand equity. The competitive potency is gained by creating a unique brand trend, support by bringing innovativeness to the product or service and protection of the brand image by connecting with the people. The analysis of global potency enables companies to determine differences between local and global market and bring changes accordingly to create a unique brand identity (Gobe, 2010). Today relational branding has gained significant importance wherein brand equity is created by their efforts in connecting with their customers in every aspect. Gummesson (2002) states that the common belief that relationships occur explicitly only between human beings cannot be justified since the relationships can involve symbols, objects and other immaterial phenomena. This type of branding emphasizes on importance of relationship with various aspects of the company and are considered important in branding since they directly have an impact on the image of a company. The image is created by impersonal factors such as company name, famous personalities in the company, brand, logo etc (Cijo, 2014). Today consumers define brand relationship form individual perspective and are much personalized in the mind of the consumers. The brand equity, brand image and loyalty is created by individual relationship based on their perception of brand value and their experiences (Gobe, 2010). The customer thus, creates and promotes a brand from the communications he/she makes across multiple