The Influence of Brand Awareness on ASDA's Sales and Profitability

Verified

Added on  2020/11/12

|14
|2174
|91
Report
AI Summary
This research project investigates the influence of brand awareness on ASDA's sales and profitability. The report begins with an introduction to brand awareness and its significance, followed by a discussion of the research's aims, objectives, and research questions. A literature review provides context for the study. The methodology section details the research evaluation techniques and methods used, including primary data collection through questionnaires. The results are presented, analyzing customer perceptions of brand loyalty, price sensitivity, and the impact of brands on purchasing decisions. The report concludes with recommendations for ASDA to enhance its brand awareness and improve its business performance, emphasizing the importance of maintaining brand quality, building customer trust, and effective communication strategies. References and questionnaires are included.
Document Page
RESEARCH PROJECT ON BRAND
AWARENESS IN ASDA
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
CHAPTER 1....................................................................................................................................1
1.1 Aims and Objectives.........................................................................................................1
1.2 Factors contribute in the progress of research project .....................................................2
1.4 Project specification.........................................................................................................2
CHAPTER 2 : Literature Review....................................................................................................4
1.3 Undertaken the critical review of key references based on the Literature Review..........4
CHAPTER 3 : Research methodology............................................................................................5
2.1 Research evaluation techniques and method ..................................................................5
2.2 Undertaking the research project......................................................................................6
CHAPTER 4 ...................................................................................................................................6
2.3 Recording and collecting relevant data...........................................................................6
3.1 Appropriate research evaluation techniques ....................................................................9
3.2. Interpretation and analysis...............................................................................................9
CHAPTER 5..................................................................................................................................10
3.3 Recommendation and justification for further consideration ........................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
APPENDIX 1.................................................................................................................................12
Document Page
CHAPTER 1
1.1 Aims and Objectives
Introduction
Brand awareness is an extent to which customers are familiar with the image or qualities
of a specific brand of products or services. It can be referred to a major consideration in
advertising management, consumer behaviour, brand management and strategy development.
The customer's ability to recall or recognize a brand is a main element that plays an important
role in purchasing decision of a consumer. This research project is in context to ASDA, a leading
company in United Kingdom. The research will analyze impact of Brand awareness on business
functions of a company or organization. The project includes aim and objectives, effective
research on Brand awareness and its effects on ASDA. The two research techniques primary and
secondary are conducted in this report along with a brief literature review on the topic.
Background of the study
Brand is a most essential assets of every business or organization, it refers to the logo,
name, design or symbol which is utilized as an identity for products or services. It also helps in
differentiating a particular product or service from its substitutes or competitors. The purpose of
this study is to identify the impact of brand awareness on ASDA.
Rational of the research
The main concept of conducting this research is to determine the ways in which brand
awareness influence business performance and profitability of ASDA. The company is failing to
develop a good brand image or value in the market. The management of ASDA needs rebranding
its brand image in the market and attract new customers for increasing its sales.
Aim
To identify the influence of brand awareness in increasing sales and profit of an
organisation : A study on ASDA
Objectives
To understand the conception of Brand Awareness
To evaluate role of brand awareness in increasing sales and profit of ASDA
To identify the relationship between brand awareness and sales or profit.
To recommend methods of increasing sales and profit in ASDA through brand
awareness.
1
Document Page
Research Questionnaires
1. What is the relationship between company's sales or profit and brand awareness?
2. What is the concept of Brand awareness?
3. What are the benefits of brand awareness in increasing sales and profit for
ASDA?
1.2 Factors contribute in the progress of research project
There are various factors that contributes in the selection of the research project, these
elements are describes as below -
1. Area of interest – I have a great interest in the topic which is selected for the research,
ASDA is a leading brand all round the world in order to understand its branding and other
strategies I chosen this topic. This research project will help me to understand what is the
significance of brand awareness in a business.
2. Experience and Knowledge – This research will help me to enhance my understanding
with respect to various issues faced by a company in developing its brand image and
value in the market.
1.4 Project specification
The research study is extremely fundamental for customers and in addition for
organization as in light of the fact that it helps in making arrangements particularly with regards
to mark mindfulness. In this investigation of research, the examination specialists will make
utilization of hopeful research rationality which help in acquiring the focused on objectives and
goals. The data is gathered from both the sources i.e. essential and optional. There is no
speculation show in this momentum explore report. The whole research depends on certainties
and reality. The fundamental point of leading this examination is to fathom the issues coming in
the association in mark mindfulness. In addition, the supervisor of the association is giving
corrected data identified with this exploration examine. Every last information gathered are taken
as it seems to be, there are no progressions or change stamped. In gathering the data, there are
gifted and full information analysts as they probably am aware how to characterize the report
according to its reliability. Examiner is additionally filled by clients to recognize their
perspectives with respect to the items and administration of ASDA (Husted, Henriques and
Crane, 2017)
2
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Activity 1th
We
ek
2nd
Wee
k
3rd
We
ek
4th
We
ek
5th
Week
6th
Week
7th
Wee
k
8th
Week
9th
Week
10th
Week
To determine
research Topic
Literature
Review
Mapping up
methodology
Completing
Proposal
pilot research
and designing
question
Recording
Research and
carry out
Developing
graphs and data
Analysis
Discussion and
Conclusion
Editing and
Completing
final report
3
Document Page
CHAPTER 2 : Literature Review
1.3 Undertaken the critical review of key references based on the Literature Review.
Concept of Brand Awareness
According to Molinillo and et.al, (2017), the degree of awareness in consumer regarding
particular brand is referred as brand awareness. In order to sustain in the competitive
environment, it is essential and rudimentary for the management of business organisation to
construct robust brand status. Strong brand image attracts large number of customers towards the
organisation. Brand awareness is significant especially when firms attempts to launch a new
products and services in the market. In the world of innovative products, those organisations who
fails to provide new and innovative products and services to their customers fails to sustain in the
market. Wang, Ghalih and Porter (2017) said that products and services that maintains high
degree of brand awareness are likely to generate more sales. For instance, soft drink industry in
which numerous soft drinks are indistinguishably similar, companies such as Coca Cola and
Pepsi use their brand to showcase their products and enhances their sales. Romaniuk, Wight and
Faulkner (2017), argued that for developing strong brand image, management of business
organisation needs to focus on three main aspects which are quality, quantity and price.
Customers in United Kingdom tends to be more quality oriented which implied that they require
products with effective quality. Lee, O’Cass and Sok(2017) elucidated that companies have
employed strategies to raise brand awareness among customers which have directly translated
into higher sales. This higher rate of brand awareness typically serves as an economic moat
which prevents competitors from gaining additional market share.
Relationship between brand awareness and company’s sales and profitability
Trapp, Pinar and Girard(2017) elaborated that companies that have effective and efficient brand
image able to sustain in the competitive environment. There is direct relationship between brand
awareness and company's sales and profitability. Consumers tends to purchase products and
services from those organisations who have effective and efficient brand image. The brand
awareness increases within the consumers through various marketing strategies which are used
by the management of business organisation. Lambert-Pandraud and et.al, (2017), argued that
company's sales and profitability is directly proportionate to the degree of brand awareness. But
for company's who work in monopolistic environment, this statement can not be considered as
true. Such company's does not bother about the level of brand awareness as they know that
4
Document Page
customers have to purchase the products and services irrespective of price, quantity and in some
cases quality. For example, railways, postal services, etc. Pegoraro, Scott and Burch (2017)
elucidated that company's with robust brand awareness able to gain competitive advantages in
the market economy and thus, able to enhance their profitability and productivity. In order to
that, the management uses strategies like promoting their products and services through
marketing campaigns, social media marketing, distributing samples, etc.
Effectiveness of brand awareness in raising sales and profitability
Novansa and Ali, (2017) proposed that brand awareness is the method through which
customers got aware of the particular brand or organisation. Organisation manufactures products
and services for customers in order to earn profits and revenue. Brand awareness plays
prominent and significant role in enhancing the sales and profitability of the organisation.
Through brand awareness, company's able to increase the number of customers. This is essential
as well as crucial for those companies who frequently launches new and innovative products in
the market. McConville, (2017) said that in present competitive era, making customers loyal
towards particular brand becomes challenge to the management and organisation. In order to
that, the management needs to devise particular strategies and plans which helps them in
attracting more and more customers towards the organisation. Litosseliti, (2017) argued that
business organisations and management needs to formulate and devise precise strategies which
helps in enhancing the customer base so that the profits and sales of the company can eventually
increase.
CHAPTER 3 : Research methodology
2.1 Research evaluation techniques and method
Research Design: It is a sort of method which empowers the precise process through
which one can accomplish research aim or goals. In this unique circumstance, distinct
research as it empowers to make the examination more specific with effective collection
and analysis of data. Moreover, it likewise evaluates research to have cooperation with
customers of ASDA.
Research reasoning: This empowers research to complete the investigation particular
way. According to the present research, researcher will demonstrate utilization of
positivism approach. This causes the researcher to make emphasis over the research aim.
It will empower the to decide the relationship among deals and workers execution.
5
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Research approach: Positivism research approach will be utilized by the researcher.
This kind of research approach is chosen as there is no speculation used to complete the
research. Inductive approach will empower to accomplish the goals of research in a
successful way as it uses scientific method for collecting and analysing the data.
Data collection : This is the most critical part in leading examination. It empowers one to
think of proper conclusion over the examination. In this unique situation, to decide the
role of employees in raising sales at ASDA will be finished with the assistance of both
primary and secondary information. Survey will be utilized to gather essential
information and to assemble auxiliary information, researcher will make utilization of
articles, books, monetary articulation of association, and so forth.
Sampling : Sampling is an important part of in any kind of research, it is used for
choosing a group people as sample in data collection. Random sampling technique will
be utilized as it will be useful in thinking of fitting result through survey. 20 respondents
will be selected and they will be customers of ASDA. They have appropriate learning
with respect to the execution of workers in raising deals.
Data Analysis : keeping in mind the end goal to dissect the gathered data, researcher will
make utilization of topical strategy, this will be useful in exploring the exploration based
on Qualitative research. The data collected by responses of various customers through a
survey and will be graphically present along with interpretation. This helps in converting
data into more meaningful information.
2.2 Undertaking the research project
In this research study, researcher is going to make impelling enquiry over the whole
research. Researcher is utilising inductive enquiry program of approach. In order to maintain the
validity and reliableness, investigator is making use of specification and processes. To reach the
stage of conclusion, it is very necessary that investigator analysis the collected data. The data
collected is from authentic sources which bring reliableness and vitality in the information. The
recommendation presented in this research project is appropriate and systematic.
CHAPTER 4
2.3 Recording and collecting relevant data
Theme 1: Attracted to branded products
Are you attracted towards branded products? Frequency
6
Document Page
Yes always 6
Never 5
Only when quality is important 4
Rarely 5
Theme 2: Brand loyalty and Brand awareness
Do you believe that brand awareness build
brand loyalty?
Frequency
Yes always 10
Never 6
Maybe 4
7
Yes always
Never
Only when quality is
important
Rarely
Yes always Never Maybe
0
2
4
6
8
10
Column B
Document Page
Theme 3: Price sensitivity
Are you sensitive with respect to pricing of the
brand?
Frequency
Yes 10
No 8
Not sure 2
Theme 4: Brand affecting customer's purchasing decision
Do you believe that brand influence the
purchasing decisions?
Frequency
Yes 12
No 6
Not sure 2
8
Yes
No
Not sure
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
3.1 Appropriate research evaluation techniques
With the assistance of specific source, all the related information are amassed. In this
exploration study, supervisor inside ASDA organization would aid rendered with the shape
which will incorporate request and this will prompt change to come to the indifferent. There are
numerous workers who has done there exercises in much exact way. Besides, with the help of
particular sources, distinctive methods and plans can be inspected. Next to this, with the help of
particular sources and plan of activity can be discovered which will empower or enhance open
introduction level and improving deals.
3.2. Interpretation and analysis.
Theme 1: Attracted to branded products
Interpretation – The above questionnaire concluded that 6 out of 20 customers are attracted to
branded products, 5 customers are not at all attracted towards brands, 4 customers responded that
they buy branded products when they need quality products. The remaining 5 customers said that
they get attracted to branded product rarely. This shows that customers trust on brands and are
highly attracted towards branded products.
Theme 2: Brand loyalty and Brand awareness
Interpretation – The above questionnaire was developed to identify the relationship between
brand awareness and brand loyalty. 10 out of 20 customers said that Brand awareness develop
Brand loyalty, 6 customers disagreed that brand awareness has no relationship with brand
loyalty. 4 customers were confused. This concluded that Brand awareness can help ASDA to
develop brand loyalty.
Theme 3: Price sensitivity
Interpretation – The above questionnaire was developed in order to know the response of
customers to pricing strategies by ASDA. 10 out of 20 customers said that they are price
9
Yes
No
Not sure
Document Page
sensitivity, 8 customers said that they do not get influenced by price of the products. 2 customers
were confused. It concludes that customers are very price sensitivity with regards to purchasing
any product or service.
Theme 4: Brand affecting customer's purchasing decision
Interpretation – The above questionnaire concluded that brand influence purchasing decisions of
the customers. 12 out of 20 customers agreed that brand affects purchasing decisions of
customers, 6 customers said no brand does not influence customer's purchasing decisions and 2
customers were confused. This shows that brand image or value affect the purchasing decisions
of customers.
CHAPTER 5
3.3 Recommendation and justification for further consideration
According to the finding in this examination, It can be reasoned that administration of
ASDA should make keep up and extends its image as we realize that marking is a consistent
procedure. Promote it was analysed that brand mindfulness among the gathering of people or
clients bring the deals and benefit of organization to abnormal state. There is an immediate
connection between mark mindfulness and organizations benefit and deals, in this way, the
administration of ASDA needs to make and keep up the nature of items. Brand is the passionate
association with clients. Once the trust break at that point organization won't ready to come up in
the commercial center. In this unique situation, the administration of organization ought to know
about nature of items. In building the brand, quality, situating, repositioning, correspondence and
long haul observation assumes indispensable part in building the brand. There are five different
ways by which organization can make compelling brand administration which are organization
ought to make web based life profile, the item ought to be extraordinary, form association with
imperative sources and correspondence ought to be legitimately done.
CONCLUSION
The above report concluded that brand plays an important role in an organization or
company to increase sales and profit. The customers are attracted towards branded products and
services such as products sold by ASDA. The report also concluded that brand awareness helps
to develop brand loyalty. The research study identified customer's thoughts with regards to
various elements and areas of brand awareness.
10
chevron_up_icon
1 out of 14
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]