BUSN20016 Research: Impacts of Branding on Sales & Development

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This report explores the significant role of branding in the sales and development of Burberry fashion. It addresses the problem of maintaining a competitive edge in the face of increasing competition and substitute products, highlighting the importance of brand value and image. The research aims to identify effective ways to manage unsold products, improve sales, and foster organizational development, including exploring charitable donations, franchise opportunities, and product alterations. The study reviews relevant journals and articles, focusing on the impact of branding on sales and organizational growth, and discusses the challenges in the global fashion sector. Key concepts like brand equity, communication, awareness, and brand association are examined, along with factors affecting brand image and the decision-making process. The research methodology includes data collection and analysis techniques to answer research questions related to Burberry's branding strategies and their effect on business profitability.
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Running head: IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
Impacts of branding in sales and development of Burberry fashion
Name of the student
Name of the university
Author note
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1IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
Table of contents
1.0 Introduction................................................................................................................................3
2.0 Problem statement.....................................................................................................................3
3.0 Aim and objectives/ research question......................................................................................4
4.0 Justification and potential output of the research......................................................................5
5.0 Conceptual framework and hypothesis development................................................................5
5.1 Concept of branding..............................................................................................................5
5.2 Factors affecting the brand equity.........................................................................................7
5.3 Importance of branding in decision making process...........................................................10
5.4 Impact of product branding and sales promotion................................................................11
5.5 Hypothesis development......................................................................................................12
6.0 Research Methodology............................................................................................................12
6.1 Research Approach..................................................................................................................12
6.2 Data Sources............................................................................................................................13
6.3 Data Collection and Data Analysis techniques........................................................................13
6.3.1 Data Collection.................................................................................................................13
6.3.2 Data Analysis Techniques................................................................................................14
6.3.3 Variables and analysis......................................................................................................15
6.4 Organisation of the research study..........................................................................................15
6.5 Budget, Project Activities and Gantt chart..............................................................................16
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2IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
6.5.1 Apprehended Budget for the following research..............................................................16
6.5.2 Project activities and implementation schedule................................................................16
7.0 Reference.................................................................................................................................19
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3IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
1.0 Introduction
According to Baker (2016), brand image plays a significant role in case of creating the
sustainable position in global market. By supporting this Siegert et al. (2015) stated that grand is
necessary to develop a strong reputation so that larger number of people can be attracted. In case
of driving the competitive environment, brand image has become necessary for fashion business.
It cannot be denied that developing the strong brand image, the fashion organizations develops
the marketing program in an effective manner. On the other hand, it has been identified that,
depending on the brand image, the customer marketing can be characterized in an attractive way.
Therefore, it can be said that brand image plays an influential role in case of increasing the sales
revenue of an organization. Brand image is very important in the fashion industry, because brand
helps to develop the strong memorable impression on customers’ mind that can help to deal with
the increasing business opportunities in the market.
2.0 Problem statement
In the fashion sector, branding has become essential in case of gaining the competitive
advantage in the market (Holt 2016). It cannot be denied that with the increasing business
opportunities and rapid growth in the market, it has become tough for the organization to
maintain sustainable position in the market. Analyzing the current fashion market it has been
identified that the fashion brands are trying hard to develop brand value so that the large number
of customers can get attracted. The organizations have decided to develop the strong brand
image in the market so that changing purchasing decision of the customers can bring the sales
improvement. It cannot be denied that Burberry is the leading fashion brand in the market. Due
to increasing numbers of competitors and substitute products, branding has become the major
concern for the company (Okonkwo 2017). Due to the increasing popularity and branding
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4IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
initiatives of the competitors, it has become tough for the company to maintain its sales growth.
It has been identified that the customer marketing industry sector has stopped selling near about
$150 million products for protecting the luxury brand image of the company. As the company is
holding the luxury status in the market, therefore, compromising with the price can create
negative impact on its business reputation. In such cases the controversies among the people and
negative impression on the customers’ perspective, the sales revenue and business development
process can be affected. It is true that branding is very important for an organization so that it
will be able to maintain its sustainable position in the market. Therefore, it can be said that in this
situation, branding has become important for the Burberry fashion for maintaining its position in
the competitive market.
3.0 Aim and objectives/ research question
Aim: The purpose of this research is to introduce the effective way in the workplace so that the
waste management process can be done in the right manner. The study also aims to focus on
analyzing the decision needs so that expensive unsold products can be disposed in an acceptable
manner. The study also aims to find an innovative way, so that the sales and organizational
development will not get affected.
What can be the way to identify the effective way by following which the unsold
products can be given to the charity on behalf of Burberry organization with promotive
marketing?
How to analyze how the old products can be sold through franchise?
How to focus on introducing alteration against the exiting product based on current
trend?
How to improve the lean management for preventing excessive storage for each year?
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5IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
4.0 Justification and potential output of the research
In case of analyzing the research, different journals and articles will be reviewed that can
help to identify the importance of branding for the organization. After the research and
development process, it will focus on identifying how the branding can impact on the sales and
organizational development. On the other hand, the study will also shed light on global fashion
sector and current market challenges. In this research, it will be discussed that how the large
number of unsold products have impacted on the business profitability of the company. In this
study the entire scenario of the fashion industry and its impact on business revenue will be
highlighted. I believe, this study will help the fashion organizations to develop effective branding
strategies, which can be beneficial in case of avoiding the business risks.
On the other hand, it cannot be denied that the research questions which will be answered
through the data collection and data analysis process, will be beneficial for academic purposes.
Depending on the research, the further branding development initiatives can be introduced in
fashion industry.
5.0 Conceptual framework and hypothesis development
5.1 Concept of branding
The term branding indicates the image of an organization which is being established for
grabbing the attention of large number of customers. In another word, Baumeister, Scherer and
Wangenheim (2015) stated that it can be said that branding is about developing an influential
reputation of an organization that can drag the customers attention and influence their decision
making process. It has been identified that the purpose of developing strong brand image is to
help the stakeholders to understand different offers of the company. It is also true that depending
on branding the USP of an organization can be depended (Ahuja 2015). In case of branding,
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6IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
different attractive logo and colorful pictures are being used by the company for grabbing the
attraction. Branding is very important for improving the environment in the workplace. A
company with strong brand reputation is able to convince the customers with new products easily
compared to the other organizations which are less popular. Hence, it can be said that branding is
about gaining the trust of the customers, which is required to develop the strong customer
relationship. The term branding is very small but developing a strong brand image is not an easy
work. Through branding activities a strong motivational message is being send to the customers
(Kim & Hall 2015). Through the message, the mission and value of the company are being
clarified. In other words, it is true that depending on branding the transparency between the
employers and customers can be maintained. Branding can be done through different marketing
tools such as advertising, social media, TV and printing ads. Branding has higher level of
significance in case of influencing the growth rate of the company, however, it cannot be denied
that branding is a complex process because depending on its failure and success, the customer
relation and business revenue are being influenced.
As the study has already discussed that branding is a complex process because depending
on its success and failure the future of the company can be influenced, therefore, developing a
unique brand image is very important. It has been identified that in case of grabbing the attention
of large number of customers, most of the cases celebrity endorsement is being done by the large
organizations (Seo & Buchanan-Oliver 2015). It cannot be denied that there are many
organizations in industry, which invests sound amount for the brand development activities. Not
only for the existing organizations, but also branding is required for those organizations which
are establishing new business. It is important for informing regarding its existence in the field. In
the words of Lueg, Pedersen and Clemmensen (2015), before involving in the branding process,
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7IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
it is more important to understand the concept of brand. Branding is the process in which the idea
or image of an organization can be easily recognized by the customers. Brand popularity can be
achieved when large number of people will be able to identify the certain products and services
among many others organizations. Therefore, it can be said that branding is about setting the
standard and reputation, which make the company different from others. In case of brand
development process, internet commerce pays an influential role. It cannot be denied that
depending on the search engine optimization process and webpages, the organizations get the
chance to develop the strong brand image. Hence, it can be said that branding is the strong
company asset, which helps to develop the good reputation. A company with less reputation
needs to focus on improving its branding process, so that it will help to gain competitive
advantage from the market (Khelladi & Castellano 2018).
5.2 Factors affecting the brand equity
Brand image is being considered as the combination of personality and association of a
company or brand. Therefore, there are various factors that influence the brand reputation of an
organization (D'Souza 2015). It cannot be denied that communication with the customers,
customer relationship, quality of products, efficiency of the employees and many others factors
impact of the brand image in both the direct and indirect manner. On the other hand, it is true
that brand equity is the premium value that is important for assigning the customers towards
knowing the brand name, which is above the benefits and generic featured provided by the
company. It is true that the organizations try to achieve the brand equity in case of developing
the unique brand personality. Different factors that influence the brad equity have been discussed
below
Communication
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8IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
It cannot be denied that a brand success depends of the process of communicating with
the customers. By using the effective communication skills, large number of people will be able
to interact. In this process, the issues and complaints of the customers can be solved in a
sophisticate manner (Keller 2016). Not only for developing strong relationship with the
customers, but also it is very important for the organizations to develop the relationship with
suppliers, so that the uninterrupted supply chain process can be maintained. It is true that in case
of analyzing the increasing needs and demands in the market, effective communication can be
beneficial. It is also true that in case of undertaking the global conglomerate of a small business
with large number of employees, multilingual speaking and writing skill can help to interact with
the investors. With the proper interaction with the investors, it becomes easier to convince them.
Awareness
Awareness among the people regarding rand image is very important. A brand which is
offering exceptional benefits and features but does not done any kind of marketing activities, it
will not be able to generate the sales (Sajjadi et al., 2016). Therefore not only the unique
services, but also the awareness regarding the services among the people is required for its sales.
Therefore, in case of increasing the awareness among people social media can play an effective
role. In the current scenario, people have become habituated with the internet and social media.
Therefore, if the branding campaigns through social media like facebook, Twitter and Instagram
will be able to grab the attention of large number of customers. On the other hand, strong brand
image can also play an influential role for influencing the decision-making process of the
customers. It cannot be denied that depending on the promotional materials, success measuring
materials and different promotional efforts the brand awareness can be increased.
Reputation
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9IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
In the words of Sasmita and Mohd Suki (2015), both the positive and negative impression
of brand can be built through online, which can bring both the success and failure for an
organization. It is true that the brand Reputation can also be destroyed by a person who is
representing the brand through telephone. On the other hand, it is also true that verbal
transgressions or unprofessional body language or verbal transgressions of a person who is
representation a brand can be influenced. It is mentioned in this study that internet plays an
important role in case of developing the trust credibility and brand reputation. However, in the
current business scenario, the online business reviews and social media can bring the negative
impact on brand image within a moment. Brand reputation is also very important for developing
the professional communication as well as customer relationship. Depending on the ability to
present the positive brand image by handling the negative reviews is important for developing
positive brand image.
Strategy
It is very important for a brand to clarify its tactics and objectives for achieving a
strategy. Depending on the branding strategies the process for conducting the branding
development process and market share of the company can be influenced. The branding life
cycle including its growth, introduction, declining stage and maturity can be developed
depending on the strategy which is being followed by the company. Depending on the strategy,
the longevity of the brands and ability for communicating professionally and accurately with the
stakeholders can be affected (Lin 2015). It cannot be denied that depending on the branding
strategies, the ethical behavior, collaboration with the employees are being maintained. Hence, it
can be said that the effective branding strategy is required for bringing the development.
Process of ethical and legal decision making process
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Business ethics are very important to be followed by the business leaders, because
depending on the training and ethical awareness the mission and vision of the company is being
clarified (Mirabi, Akbariyeh and Tahmasebifard 2015). Ethical awareness is very important in
case of reducing the false claims and half-truth claims. It cannot be denied that false claims
create the negative brand impression among the customers’ mind. Due to this reason, some of the
cases the decision making process of the cases can be affected. Therefore, it can be said that
business leaders needs to be aware regarding the ethical and legal decision making process.
5.3 Importance of branding in decision making process
In the words of Sasmita and Mohd Suki (2015), it cannot be denied that strong brand
image impacts on customers mind and influence the sales revenue of an organization. It is also
true that in case of driving the decision making process, the brand image plays an influential role.
It cannot be denied that family and friends are important for riving the purchasing decision of the
customers. It has been identified that if the customers gets to know about the name of and its
services from the close one, the person prefers to abele the products and services. In case of
luxury brands, analyzing the conspicuous consumption capability of people in the 21st century,
people have the tendency to use the luxury brand products for showing off to the society
(Schiebener & Brand 2015). In this case, depending on the brand popularity and its expensive
product ranges, people get attracted towards its services even if the person is using the product
for the first time.
Some of the cases, it has been identified that depending on the packaging of the products
and its attractive logo, customer purchase the products. It is also true that depending on the
information regarding the products and services which are being provided in the packaging can
change the purchasing decision (Xie & Lee 2015). It is true that depending on the offers and
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11IMPACTS OF BRANDING IN SALES AND DEVELOPMENT
compensations which are being provided by the company, the customers can be attracted. In case
of provides the needed products within budget that influence the purchasing decision of the
customers. In case of branding celebrity endorsement plays an effective role. If people see that
their favorite celebrity is involved in the brand campaigns, it increases the customers’ trust on the
product or brand (Mirabi, Akbariyeh and Tahmasebifard 2015). It is also true that the products
with least attraction, will not be able to attract the customers towards it. It has been identified
that old aged and unseen products do not get the chance to attract the customers. On the other
hand, if they chose and attention of the customers will be focused by the company, it can help to
gain their loyalty. Hence, it can be said that depending on the loyalty of the customers towards
the brand, can be influenced by the branding initiatives. In the psychological perspective, it can
be said that depending on emotional attachment of the customers with brand values and
mission, the purchasing decision can be influenced.
5.4 Impact of product branding and sales promotion
The impact of product branding and sales promotion are interconnected with each other.
It has been identified that depending on the product branding, the benefits are being provided to
the customers. Branding helps to develop the cultural values of the customers. It cannot be
denied that depending on the sales promotion, the congruency between the promotion and
product can be identified Mirabi, Akbariyeh and Tahmasebifard 2015. As it helps to increase
awareness regarding the cultural value in a group, therefore, it can be said that using the
standardized strategies the organization gets the chance to promoting its selling products in the
group. By planning the promotional strategies, both the cultural values as well as the sales
growth can be achieved. In this process the sales revenue as well as well as the process of
maintaining the brand image can be done in appropriate manner.
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