To evaluate the impact of branding in sales for Woolworths, Australia
Verified
Added on 2023/06/09
|8
|1464
|366
AI Summary
This research evaluates the impact of branding on sales for Woolworths, Australia. The study aims to identify the impact of branding on buying behaviors, evaluate approaches to enhance brand image, assess ways in which branding influences purchasing power, and recommend necessary measures for successful branding.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head:RESEARCH IN BUSINESS Research in business Name of student Name of University Author note
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
1RESEARCH IN BUSINESS Table of Contents 1. Introduction..................................................................................................................................3 Problem statement........................................................................................................................3 2. Research aim and objectives........................................................................................................3 3. Research methodology.................................................................................................................4 3.0 Comprehensive literature review...........................................................................................4 3.1 Quantitative and qualitative data............................................................................................5 3.2 Survey research......................................................................................................................5 3.3 Experiment.............................................................................................................................5 References........................................................................................................................................6
2RESEARCH IN BUSINESS Title: To evaluate the impact of branding in sales for Woolworths, Australia 1. Introduction The topic introduces the concept of branding and promotions done for influencing the purchasing behaviors of the consumers, which has increased the sales of products and services for Woolworths, Australia. The advertising and promotional activities are important aspects that promote effective branding, enhance the brand image and exposure to draw the attention of consumers (Solomon et al., 2014). This not only promotes the brand, but will also facilitate influencing the buying behaviors of consumers, which can increase the company sales and revenue generation too. Problem statement The main problem is the lack of marketing and promotional activities, which often makes the brand left out and experience lack of awareness among the clients, due to which the sales level fall gradually resulting in loss faced by the company. This often leads to lack of revenue generation and decline in sales too for the company within the retail sector of Australia (Bryman & Bell, 2015). It has become the main focus of the organization to enable effective branding and enhance the brand awareness among people, so that their buying behaviors are influenced and the sales of products increase with time to generate higher revenue (Goh, Heng & Lin, 2013). 2. Research aim and objectives The aim of the research is to evaluate the impact of branding on the sales achieved at Woolworths, Australia.
3RESEARCH IN BUSINESS Objectives: To identify the impact of branding on the buying behaviors and its influence on the sales of products at Woolworths, Australia To evaluate the approaches to enhance the brand image and identity of Woolworths To assess the ways in which branding influences the purchasing power of the customers and the sales are increased To recommend necessary measures for ensuring that the branding is successful for raising the sales level through more purchases made by the customers 3. Research methodology The research methodology represents the various research methods, approaches and strategies along with the data collection procedures that will be followed for conducting the research appropriately. 3.0 Comprehensive literature review Branding is one of the most important in business that enables the brand to gain instant recognition and establish itself in a sustainable position for influencing the mindsets of the consumers and ensure that they purchase products on a consistent manner to improve the sales of the company. The branding perspective not only influences the buying decisions of consumers, but also has combined the various components of human psychology with the use of marketing components (Malik et al., 2013). Brands are promoted through marketing and promotional approaches and nowadays, internet marketing has played a vital role too for enhancing brand awareness among the customers. This influences the customers to make purchases of the
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4RESEARCH IN BUSINESS products consistently which further improves the sales of the business organizations. The quality and features of products in respective of the brand, when delivered properly, has created trust and loyalty among customers, which has maintained a positive brand value and the customers have managed to buy the products, thus resulted in increasing the sales and profit level too (Oliver, 2014). 3.1 Quantitative and qualitative data The quantitative data and qualitative data are considered as the primary data while the secondary data are collected from sources like journals, articles, newspapers and internet websites that consist of information and data related to the impact of branding on the buying behaviors of consumers (Tuškej, Golob & Podnar, 2013). The qualitative data are the responses of managers of the organization whereas the quantitative data will be obtained by conducting survey process where survey questionnaire are distributed to the respondents considered as part of the samples (Neuman, 2013). Thus, the mixed methodology is suitable here for conducting the research, because of the significance of collecting both qualitative and quantitative data for conducting the research efficiently. The collected data and information will be analyzed and interpreted for making any prior assumptions and predict the future as well. Rather than determining the ‘why’, the research will be conducted by evaluating the ‘what’ and ‘how’, which shall allow the research to be conducted in much more details, furthermore fill the missing gaps too. This will ensure that the dependent andindependentvariablesareconnectedandpositiveoutcomesareobtained.Thus,the descriptive research design will be the most suitable. The analysis of data will be done with the
5RESEARCH IN BUSINESS use of SPSS tool and also by representing the numerical data and information in the form of graphs and tables with the use of Excel sheet for ease of understanding by the researcher. 3.2 Survey research The survey research will be conducted by providing survey questionnairesto the respondents and those will be presented as question answer format for easy understanding by the respondents. The survey will be conducted by selecting the sample size and then obtaining data based on demographics like age, gender, location, etc (Buil, De Chernatony & Martinez, 2013). 3.3 Experiment To determine the impact of branding on the sales level achieved within the retail sector, an experiment will be done for comparing the results obtained from intervention groups with the information related to the branding aspects such as marketing, promotions, advertising, etc. Based on the nature of topic, the experiment will likely be controlled properly considering the right sample size and maintaining the ethics too for ensuring that purpose of research is known to the population and that is solely for academic purposes, and not for any commercial benefits (Romaniuk & Nenycz-Thiel, 2013).
6RESEARCH IN BUSINESS References Bryman, A., & Bell, E. (2015). Business research methods. Oxford University Press, USA. Buil, I., De Chernatony, L., & Martinez, E. (2013). Examining the role of advertising and sales promotions in brand equity creation. Journal of Business Research, 66(1), 115-122. Fowler Jr, F. J. (2013). Survey research methods. Sage publications. Goh, K. Y., Heng, C. S., & Lin, Z. (2013). Social media brand community and consumer behavior:Quantifyingtherelativeimpactofuser-andmarketer-generatedcontent. Information Systems Research, 24(1), 88-107. Malik, M. E., Ghafoor, M. M., Iqbal, H. K., Ali, Q., Hunbal, H., Noman, M., & Ahmad, B. (2013). Impact of brand image and advertisement on consumer buying behavior. World Applied Sciences Journal, 23(1), 117-122. Neuman, W. L. (2013). Social research methods: Qualitative and quantitative approaches. Pearson education. Oliver, R. L. (2014). Satisfaction: A Behavioral Perspective on the Consumer: A Behavioral Perspective on the Consumer. Romaniuk, J., & Nenycz-Thiel, M. (2013). Behavioral brand loyalty and consumer brand associations. Journal of Business Research, 66(1), 67-72. Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer behavior: Buying, having, and being (Vol. 10). London: Pearson.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7RESEARCH IN BUSINESS Tuškej, U., Golob, U., & Podnar, K. (2013). The role of consumer–brand identification in building brand relationships. Journal of business research, 66(1), 53-59.