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Impact of Advertisement on Brand Awareness - Bread Talk

   

Added on  2019-09-30

46 Pages9274 Words195 Views
Running head: IMPACT OF ADVERTISEMENT ON BRAND AWARENESSIMPACT OF ADVERTISEMENTON BRAND AWARENESSBread Talk (Singapore Based Food & Beverages Company)

1IMPACT OF ADVERTISEMENT ON BRAND AWARENESSTable of ContentsIntroduction....................................................................................................................................2Advertising...................................................................................................................................3Advertising and Customer Behavior............................................................................................3Advertising and Brand Awareness/Preference............................................................................4Research Aim...............................................................................................................................5Research Objective......................................................................................................................6Research Question........................................................................................................................6Literature Review..........................................................................................................................6Methodology.................................................................................................................................14Research Philosophy..................................................................................................................14Research Approach....................................................................................................................15Research Design/Strategy..........................................................................................................15Data Collection Method.............................................................................................................17Sampling method.......................................................................................................................18Accessibility Issues....................................................................................................................19Data Analysis and Interpretation...............................................................................................20Survey Method...........................................................................................................................20Findings........................................................................................................................................33Discussion.....................................................................................................................................35Conclusion....................................................................................................................................37References.....................................................................................................................................39Appendix.......................................................................................................................................43

2IMPACT OF ADVERTISEMENT ON BRAND AWARENESSIntroductionIn recent years, the increasing customer consciousness is making the customers to buy theirfavorable and familiar brands. Thus, if the business desires to defeat the competitors, they mustmake their consumers forced to purchase their brands and products (Shapiro, 1999). Sharp adMacdonald (2000) states that though customers are willing and familiarize to buy the product,the awareness for the brand is considered as a significant factor for influencing the decision topurchase. When the customers desire to purchase a product and any brand name clicks in theirmind, it shows that the product has great brad awareness (Valette-Florence et al., 2011). Theconsumers’ decision to purchase a product is influenced with a higher awareness for brand whichexplains the reason for product with high brand awareness to have a high share in the market anda better evaluation of the quality (Allen, et al., 1989). This perceived quality may aid thecustomer to own a subjective opinion over the aggregate quality of product which makes theproduct to hold differentiation as well as become a chosen brand in the mind of customers.Besides, the business must develop a brand loyalty. Few research states that the expenses forattracting a new customer is five times more than maintaining the customer loyalty (Allen, et al.,1989).In this research paper, the company chosen was Bread talk Group which is Singaporebased Multinational beverage and food corporate whose headquarter is in Singapore. Thus, themain purpose of this research involves:To discover the impact of brand loyalty, perceived quality and brand awareness over theeffect of purchase intention. The impact of perceived quality over the brand loyaltyWhether the perceived quality as well as brand loyalty intercedes the relation betweenpurchase intention and brand awareness

3IMPACT OF ADVERTISEMENT ON BRAND AWARENESSAdvertisingAdvertising is defined as a tool for mass communication for the purpose of marketing.According to Ayanwale et al (2005), the tool for mass communication gives an opportunity forcommunicating similar message to a huge customer at minimal cost instead of personal mode ofselling. As per Richards (2002), the advertising is persuasion process, socio-economic,marketing process and communication process at same time. The view so Philip Kotler says thatadvertising is a non-personal promotion and presentation of products and services of paidFormby any known sponsor. The AMA (American Marketing Association) is having the sameviews.Brand Equity and Brand AwarenessBendixen et al. (2004) states that all business aspires to get high level of loyalty from theircustomers as keeping and retaining the present customers is considered to be highly valuable forthe organizations and is cheap comparative to the recruiting and attracting of new customers. Thebuyers usually rely over their prior experience which they had with the product while choosing itinstead of buying any substitute of that (Avanwale, et al., 2005). For instance, many peopleprefer to buy Nike shoes as compared to all other brands if any new range of their products areavailable. In this scenario, the Nike establishes the preference of brand in the mind of thecustomers (Kurtz et al., 2009). Vallette Florence et al (2011) cited another author Marc Globe(2001) in their book showing that all good brands emotionally connect with their customers bymaking engaged the customers through multifaceted sensory attitude and deep emotionalexperience.

4IMPACT OF ADVERTISEMENT ON BRAND AWARENESSAdvertising and Customer BehaviorAccording to Ayanwale et al. (2005), advertisers make a lot of investment to advertise theirproducts and make their access to all potential buyers as well as influence their level of behavior,attitudes and awareness of buying along with maintain their interest in the products (Baker,1999). They also cited another author’s views in the same document that all advertisers mustcollect the market data as well as study the behavior of customers to satisfy wants and needs ofthe people who buy their products.Advertising and Brand Awareness/PreferenceThe awareness and preference for brand can be observed as an attachment level which the buyerhas for a particular brand along with creation of loyalty for the brand that makes the customersbuy the goods repeatedly. In a research conducted by Malik et al (2013), he expressed thatadvertisements are used for retaining the present consumers instead of acquiring new ones. Alsothey think that present consumers are well inclined towards their brands and repeatedadvertisements helps only to make stronger their preference and increase their awareness towardsthem. Also, it reinforce their loyalty and attachment towards brand by portraying positiveexperience, pride, strong imagery and satisfaction. According to Pand (2016), if the productalready has a preference for brand in the customer’s mind, it needs a simple reminder orawareness through advertisements. However, if there is no preference for that brand incustomers’ mind, then advertisement may help in developing the awareness of brand amongthem. The main mission of an advertiser is to reach out to the potential customer and impact theirlevel of buying behavior, attitudes and awareness (Bendixen et al., 2004). They incur a lot ofexpense to keep the markets engaged and interested in their products. In order to get success intheir working, they must understand the factors that influence the behavior of customers

5IMPACT OF ADVERTISEMENT ON BRAND AWARENESS(Bendixen, et al., 2004). The objectives of the advertisers are to collect enough information frommarket data for creating accurate buyers profiles to identify the common symbols and group forthe communications. Estimation of sales is the initial point for profit planning or budgeting formost of the organizations. Today, achieving and establishing of a powerful and strong brand isconsidered as the priority for all organizations as it follows many advantages (Boone and Kurtz,2009). A strong brand name provides opportunities for the company to set themselves in market.It also helps in avoiding the organization from any kind of danger through competitive actions.In this paper we will discuss how advertising impact in development of brand awareness whichleads to competitive advantage. Research AimThe aim of this study is to help the companies understand and learn the significance ofadvertising. Also, it will help them to structure their brand and adverts to appeal the customersfor improved sales and maintain the competitive advantage. As this study will provide a clearinsight in how the advertisement may impact the brand awareness, many organizations will bemotivated to use the adverts for marketing their goods. When the companies will start taking theadvertorial mode to publicize their products, the Singapore Economy will be enhanced as morerevenue from the tax may get accrued to the government of Singapore (Pand and Gui, 2016).

6IMPACT OF ADVERTISEMENT ON BRAND AWARENESSResearch ObjectiveThe following are the main objectives of tis research:To identify the factors which motivate the brand loyalty in customersTo identify the impact of advertising on Brand awarenessTo determine the impact of brand awareness on competitive advantageResearch QuestionThe following questions for research were formulated to attain the objectives associated with thestudy:How advertisement helps in influencing the brand equity and brand awarenessHow brand awareness among customers helps in leading to the competitive advantageHow it helps in the growth of company as well as brandLiterature ReviewBrand commitment and advertisement is the significant form of communication which isinstantly required in the market that induces the customers to continue some process that makesuse of the electronic media or print. It is generally paid the form of the communication. (East,2013). Evidently, it has been found that advertisement, especially which includes media that isaligning to the mass which plays a crucial role for the companies to meet their long-termobjectives (Poh& Adam, 2007). According to the studies which were conducted by the Teixeirain 2014 reveals that there are three components that are rapidly required for preparing theadvertisement that are persuasion, Ad and content attractiveness. There are so many mediumsthat could be used intensively for advertisement. Generally, TV is the fastest means oftelecommunication medium that is being worn across the various boundaries. According to thestatistics that are being evaluated by the (Sonkusare, 2013) Social media is one of the active or

7IMPACT OF ADVERTISEMENT ON BRAND AWARENESSconcerned media where the marketers are playing the game of targeting their customers in orderto augment their profit. By targeting the customers they expect that their customers will directlyor indirectly ask their friend or families on social media by posting the links (Corcoran,2009).The other effective tool for advertisement is the magazine and magazine impact thedecision making a power of the customers? Magazine assists in establishing a relationshipbetween the buyer and seller. The magazine bridges the gap between the sellers and the buyers(Consterdine, 2009). Additionally, an outdoor advertisement is one of the intensive methods thattarget the whole population of the country by designing the attractive poster or banners.Basically, it is the written form of communication or the aesthetic picture that generally revealthe whole story to the customers. The story explores that whether the product or service iseconomically viable or not. It also reveals if the customers start using the particular product thenthey can't switch to another one (Lichtenthal et al., 2006). Although, brand commitment is thattechnique through which customer's valued their relationship with the brand. The advertisementis the mass media that disseminates the information to the customers (Lacy, 2007). According tothe statistics that have been conducted by Moorman in 1992 reveals that it takes meticulous careof its customers so that their interest of the customers are not harmed. Researchers have definedthat commitment is bifurcated into several categories that are effective commitment andContinuance commitment (Bansal et al. 2004). The study of the Morgan & Hunt, 2014 revolvesaround the deep analysis of affective commitment. Affective commitment consists of the desireof the customers so as to maintain the anticipation of the value of any brand that is associatedwith the product. The continuous commitment is derived from the calculation that is generallycost based and the results come in commitment when the cost of switching is too high (Allen &Meyer, 1990). Liking or disliking the advertisement somewhere adversely impact the consumer

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