SYNOPSIS ON EFFECT OF BRANDING ON CONSUMERS PURCHASING DECISION

INTRODUCTION
Almost every business has a trading name, from the smallest market trader to the largest multinational corporation. Only a minority of those businesses however, have what could be classed as a brand or a brand name. Branding is a word commonly referred to by advertisers and marketing people, but what does it actually mean, how can you get it, and most importantly; how will it benefit your business?

What is Branding?
There are many different definitions of a brand, the most effective description however, is that a brand is a name or symbol that is commonly known to identify a company or its products and separate them from the competition. A well-known brand is generally regarded as one that people will recognise, often even if they do not know about the company or its products/services. These are usually the businesse s name or the name of a product, although it can also include the name of a feature or style of a product. The overall branding of a company or product can also stretch to a logo, symbol, or even design features (e.g. Regularly used colours or layouts, such as red and white for Coca Cola.) that identify the company or its products/services.

How Can Branding Benefit The Business?

Recognition and Loyalty
The main benefit of branding is that customers are much more likely to remember your business. A strong brand name and logo/ image helps to keep your company image in the mind of your potential customers. If your business sells products that are often bought on impulse, a customer recognising your brand could mean the difference between no-sale and a sale. Even if the customer was not aware that you sell a particular product, if they trust your brand, they are likely to trust you with unfamiliar products. If a customer is happy with your products or services, a brand helps to build customer loyalty across your business.

Image of Size
A strong brand will project an image of a large and established business to your potential customers. People usually associate branding with larger businesses that have the money to spend on advertising and promotion. If you can create effective branding, then it can make your business appear to be much bigger than it really is. An image of size and establishment can be especially important when a customer wants reassurance that you will still be around in a few years time.

Image of Quality
A strong brand projects an image of quality in your business, many people see the brand as a part of a product or service that helps to show its quality and value. It is commonly said that if you show a person two identical products, only one of which is branded; they will almost always believe the branded item is higher quality. If you can create effective branding, then over time the image of quality in your business will usually go up. Of course, branding cannot replace good quality, and bad publicity will damage a brand (and your businesses image), especially if it continues over a long period of time. For example: The Sunny Delight drinks brand was one of the biggest in the UK just a year after its launch. Doxycycline buy on line However, constant bad publicity about the quality of the product has severely damaged the image of the brand, and sales have dropped for each of the past several years.

Image of Experience and Reliability

A strong brand creates an image of an established business that has been around for long enough to become well known. A branded business is more likely to be seen as experienced in their products or services, and will generally be seen as more reliable and trustworthy than an unbranded business. Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality.

Multiple Products
If your business has a strong brand, it allows you to link together several different products or ranges. You can put your brand name on every product or service you sell, meaning that customers for one product will be more likely to buy another product from you. VPXL Online For Example: Sony sells televisions, music equipment, consoles, camcorders, DVD players, video players, and etc all under the Sony brand name. You can also create separate brand names for your product ranges, allowing people to see your brand name, and then use the range brand name to work out what they wish to buy.

OBJECTIVE:This project is mainly concerned with the branding, its concept and factors relating to the successful branding & how does the brand use to affect the purchase decision of the consumer while they are going in the market for purchasing a product. This paper use to about analyze & try to develop the relation between the branding & its affect on the consumer buying behavior, whether the consumer use to be influenced by the branding of the product or not & what all factor use to affect the buying behavior of the consumer which influence the buying decision. An important part of the marketing process is to understand why a customer or buyer makes a purchase. Without such an understanding, businesses find it hard to respond to the customers needs and wants. Marketing theory traditionally splits analysis of buyer or customer behavior into two broad groups for analysis Consumer Buyers and Industrial Buyers There are various factors which use to affect the consumer buying behavior & which I would be research upon like:1. 2. 3. 4. Psychological Factors. Personal factors Social factors Cultural Factors.

AIM OF THE TERM PAPER:To understand the different concept of brand & branding & to analyze how the branding affect the consumer buying decision. The presentation will bring about the detail analyses what are the factors which affects the purchase decision making of the customer & to what extent.

PRIMARY OBJECTIVE:The primary objective of the study is to find out what are the various factors taken in to consideration by the prospective customer in regards to his preference in selection of an products as per the various factors which use to affect his buying decision. Even to find out what strategies should be implemented to make the branding more appealing & unique so that the consumer would be easily be able to recognize the brand among various alternative brands. The study will help the existing as well as potential customers so as to recommend measures to be taken in order to make the brand more appealing on the various affecting factors . This study analyze on quality of service that customers expect from brands. It also aims at creating sense of awareness regarding various new products and services offered.

RESEARCH METHODOLOGY:In carrying out this research I will be taking the interview as well as getting the questionnaire filled by the people of different age group & different brackets of the society. I will be distributing the questionnaire among the students, working class & other. I will also collect the details of the various branding strategies which use to be taken by the company in order to make their brand a breakaway brand.

QUESTIONNAIRE
Name.. Place Sign.. Date. DECLERATION:- The information collected by the means of this questionnaire will be kept confidential & would purely be used for the research purpose & for nothing else. The research is being done for fighting the menace of the counterfeit & refilled cartridge market & making the customer aware about the ill effects of the same. 1* Is a brands character (brand image) important for you when buying clothes?

e.g. if no what is other than brand image is important? Yes No 2* please specify:

Are your character and personality (self image) important when you purchase a product? Yes No

3*

Is your attachment to a brand important when buying ? yes no

4*

Do you think there are some factors which influence consumer puchasing behaviour? yes no

5*

How often do you go for purchasing per month? More than twice a month Twice a month Once a month Less than once

6*

How does it affect you if a brand that you usually purchase doesnt exist anymore? Dont care Feel sorry Undecided Feel very sorry

When 1= strongly agree, 2= agree, 3 = undecided, 4 = disagree and 5 = strongly disagree 7*When I buy I consider the brands reputation8*If a brands characteristics (quality) no longer favourable I quit buying it.9*If a brand creates an image in my mind, I buy that brand.12345 12345 12345

10*If I have to decide among many brands, I choose the one with an effective brand image. 12345 11*The factor "positive word of mouth" about a brand affects my buying behaviour in a positive way.12345 12*The price of the product doesn't affect me if the brands characteristics match to my personality12345 13*While I am purchasing a product i ask others ideas who have similar self images like me12345 14*I like to buy products reflecting my personality12345

15*If I buy a product which is inconsistent with my behaviour and personality I feel unhappy.12345 16*If my characteristics match the brands characteristics I buy that brand12345

17*If a brand that I have a connection with no more meet my personality needs, I no longer buy that brand18*It is important for me to buy the brand that I am used to12345 12345

19*If a brand stops selling a product line that I used to buy I try to find the similar product of the same brand20*If I am attached to a brand I usually buy that brandDemographics Information 21* What is your gender? Male Female 12345 12345

22* In which age group are you? 20 and below 21-30 31-40 41 and above

23* What is your education level? e.g. Please define -High School -Masters degree - College -Other please specify - University

24* Which of the following shows your income? (Indian Rupee per year) Less than 1lac 4lacs to 5 lacs - 1lac to 2.5 lacs - More than 5lacs -2.5 lacs to 4 lacs