Impact of Branding on Customer Buying Behaviour in Fashion Sector
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This study aims to analyze the impact of branding on the buying process of consumers in the fashion industry and provides an in-depth understanding of branding and consumer behavior.
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
Title: To analyse the impact of branding on customer buying behaviour within fashion sector: A study on Next Plc INTRODUCTION Nowadays, brand is considered as a status symbol but why question arises. It can be anything quality, features or benefits. Branding is the marketing tool used by the organizations for building a strong brand image of the product or services and increasing the awareness of it in the mind of the consumers in such a way that every time they think of purchasing something, that particularbrandcomestotheirmind.Brandinghasbecomeanintegralpartofevery organization. This study aims at analysing the impact of branding on the buying process of the consumers in the fashion industry. Along with that, this study provides an in depth knowledge and understanding about the key concept of branding and the consumer behaviour. MAIN BODY Theme 1: Understanding the concept of branding Products are made by the companies but the consumers buy the brand. Thus, the business organizations go for branding with the objective of differentiating their products and services from their competitors. According toKVASHNINA and BORTNIK (2017), branding helps in building a relationship with the customers and companies differentiating strategy in case the products cannot be easily differentiated in terms of their features. As described by Kotler, the concept of brand has the capability of conveying six different levels of meanings to the specific target audience and it is called “Six Dimensions of the brand”. First is attributes, each brand communicates a specific set of attributes like prestige. Second is branding strengthens the attributes of the products by highlighting their core benefits which makes it more attractive. Third is value, the brand describes the core values and beliefs attached with the product and services. Forth is culture, which shows the target group of audiences which is completely based on the socio cultural characteristics. The last two are personality and users, in which the brand tries to represent the behavioural personality patterns of the target group of customers. Branding is basically the set of marketing strategies which is being used by the organizations for differentiating their products and services from its competitors and crating a long lasting impact over the minds of the customers. It creates a unique name and identity in the
mind of the consumers through various marketing advertisements. Branding is a combination of several other concepts. There are four concepts of brand as proposed by Aaker. Illustration1:BrandequityinAakermodel.(Sources:Relationshipbetweenthe Integratedness Criteria of Marketing Communication Tools and Consumer Based Brand Equity (CBBE) in Iran’s Food Industry. 2015) According toTanveer and Lodhi (2016), an important part of branding is brand equity, which mainly refers to the asset and liabilities in relation to the brand which also includes name and symbols which has a huge impact over the values which is arising from the particular product or services. It signifies the unique marketing effects on the particular brand. The positive side of brand equity is that there are times when the consumer is willing to pay more for the same quality because of the attractiveness and the attribute attached to that product. But it is also very important to manage the brand equity properly otherwise it can have a negative impact on the brand and its products. The Aaker model of brand equity highlights the core value associated with the brand equity. First is brand awareness, which is one of the major determinant of brand equity. It reflects the ability of the consumer in recalling and recognizing the brand linking it with its corresponding products. It is very important for the consumers to be aware of the product so that it can be added in the purchasing choices. As perSu (2016),perceived quality, it refers to the customer's perception about the overall quality of the product and services. It is a kind of intangible thing which relates to the overall feelings and attachment towards a brand. It can help in generating values that could provide a reason to buy and along with differentiation the brand
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positioning. Third is brand association, which refers to what people feel when they come across a brand. It reflects the feelings of the customers while seeing the advertisement for the product or also during the buying process. Last is brand loyalty,under the influence of brand loyalty, it becomes difficult for the consumers to switch to another brand irrespective of their superior features. The more the customers are loyal towards a particular brand, the less vulnerable will be the customer base. Brand loyalty plays an important role in enhancing brand image of the company. Theme: 2 Analysing the effect of brands on consumer behaviour in fashion industry According toRehman and et.al (2017), consumer behaviour can be positive or negative which is completely dependent upon the outcome of their evaluation process. The customer attitude is the major part in conducting the market research. The positive attitude of the consumers can result into not only sustaining the competitive advantage but it is will also help in improving the financial health of the organization. Branding plays a key role in influencing the behaviour of the consumers. There are certain factors that forms negative attitude. The major reason is that an overly priced product policy which might have an opposite impact over the positive attitude of the consumers towards the product as well as the brand. Illustration2: Consumer decision making process.(Source:What is Consumer Decision Making Process.2018)
There are five stages being involved in the consumer buying process which considers before, during and after purchase processes. First is problem recognition, under this, the consumer identifies and becomes aware of the dissatisfaction or the problem. It is the most important stage in decision-making as without recognizing the needs an individual will not seek to buy goods and services. There are several reasons that may cause recognition of problems such as depletion of stock, environmental changes, changes in financial situations and so forth. Second is information search, after identifying the need, the consumer will try to solve the problem or satisfy the need. As defined byPanwar and et.al (2019), the information is divided into two, which is, internal and external. In internal, the search is initiated by the consumers which is completely dependent upon the culture and prior shopping experience while in external search, the relevant information is being gathered from the external environment. Next stage is alternative evaluations, in this, the consumer evaluates the alternatives based on the number of dimensions, features, characteristics and so forth. The product features along with its benefits are the factors that influence the consumers decision to buy the particular product. After conducting proper evaluation, the consumer will take decision with respect to which product to be purchase from the alternatives available. Fourth stage is purchase action, this stage involves the procedure which includes complete selection of the brand and the outlet from where to purchase the required product. The consumer mainly prefers to go nearby for purchasing low value items while will prefer to go far places for purchasing higher value products which involves high price sensitivity. Thus, after all these selections, the consumer finally makes the final purchase. The last stage is related to the post purchase actions. This also an important part which leads to increasing the satisfaction level of the consumers. Mostly consumers tend to compare their product with another on the basis of features and characteristics.Sudha and Sheena, (2017), states that if the perceived value is lower than what was expected then the product and the brand fails to meet the customer's satisfaction level which will have a serious consequence which means that the consumer might not consider that brand in their future purchasing. This will result into spreading negative things about the brand through word of mouth. Thus, all these stages has a huge impact over the buying behaviour of the consumers which the organizations are required to consider for the purpose of effectively branding their product and services and positively influence the customer's behaviour.
CONCLUSION It can be summarized that brand is a guarantee and an assurance which defines the quality of the product. Branding is a strategy which is being used by the organizations for the purpose of achieving higher success. If the business organization manages its brand effectively especially in fashion industry, it will result into substantial payoffs. On the other hand, if it is mismanaged, it will be very harmful for the brand and reputation of the organization. There are various factors that affect the buying behaviour of the consumers such as cultural factors, social factors and other internal and external factors. Future research based on a specific organization and how it has dealt with the branding and it impact should be carried out. From, the research, it can be concluded that branding has an impact on the consumer minds in different ways and even the fashion industry brands have a huge impact.
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REFERENCES Books and Journals KVASHNINA,K.andBORTNIK,I.,2017.BRANDINGASAFORMOFPR- ACTIVITIES.EUROPEAN AND NATIONAL DIMENSION IN RESEARCH.p.130. Panwar, D. and et.al, 2019. Consumer decision making process models and their applications to market strategy.International Management Review.15(1). pp.36-44. Su, J., 2016. Examining the relationships among the brand equity dimensions.Asia Pacific Journal of Marketing and Logistics. Sudha, M. and Sheena, K., 2017. Impact of influencers in consumer decision process: the fashion industry.SCMS Journal of Indian Management.14(3). pp.14-30. Tanveer, Z. and Lodhi, R. N., 2016. The effect of brand equity on customer satisfaction: An empirical study based on David Aaker's Brand Equity Model.IUP Journal of Brand Management.13(3). p.43. ur Rehman, F. and et.al, 2017. Determinants of personal factors in influencing the buying behaviorofconsumersinsalespromotion:acaseoffashionindustry.Young Consumers.