Central Queensland University Project Proposal on Brand Value

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Central Queensland University, Australia
Term – 3, 2018
BUSN20019 Assessment 1 Step 2
Unit Coordinator:
Lecturer:
Assessment: PROJECT PROPOSAL
Prepared by:
Student name:
Student ID:
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Table of Contents
Introduction................................................................................................................................3
Research aim and objectives......................................................................................................4
Research Questions....................................................................................................................4
Literature review........................................................................................................................5
Methodology..............................................................................................................................7
Data collection.......................................................................................................................7
Data analysis..........................................................................................................................7
Action plan and Gantt chart.......................................................................................................8
References................................................................................................................................11
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Introduction
The assignment is designed in the form of a research proposal in which the researchers are
showing their idea of conducting a research. The research is based on the impact of brand
value on the profitability of Woolworths. In this era of competition it is becoming very
important for the firms to maintain their brand value or brand equity in the firm and precise
manner. The deliverables of the assignment will help in highlighting the objectives of the
research and the methodology that is selected by the researchers for conducting the research
in effective manner.
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Research aim and objectives
The key aim of the research is to analyse the impact of brand value on the sales and the
profitability of Woolworths. Some of its objectives are as follows:
 To evaluate the importance of brand equity in this era
 To analyse the negative and positive impact of brand equity on the goodwill and
position of a firm (Luo, Raithel & Wiles, 2013).
Research Questions
Evaluate the Relationship of Brand value and Profitability in regards of Retail industry
(Woolworths)?
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Literature review
In this period of modernisation and globalisation it is very important for the firms to maintain
the brand value in order to resist the competition. In this period of time a number of firms are
taking over the market, hence for securing their identity the organization have to undertake
steps for enhancing the level of brand equity.
Brand value or Brand equity
With regards to (), brand equity actually refers to the value of the product in front of its actual
customers. By enhancing the brand equity the firm are able to enhance the level of customer
awareness and recognition regarding that particular product. Along with this with high level
of brand equity the consumers are able to attract the customers towards their organization.
Benefits of high Brand Value
With regards to the study of Crass, Czarnitzki & Toole, (2019), it is analysed that brand value
holds a great utility for the development of the organization. In the period of competition all
the consumers are aware of the rights and the different brands available in the market. The
customers tend to purchase the products from the firm that have high brand value. They try to
give more attention to the firms that are highly renowned in the market. The firms with high
brand value are considered to be providing high quality products and this is the cause that
they attract the majority of customers (Crass, Czarnitzki & Toole, 2019).
Apart from this with respect to Luo, Raithel & Wiles, (2013), it is highlighted that brand
value is directly related to the prestige. The customers feel it prestigious to buy goods from a
heavy brand like Apple and so forth. This is one of the most effective reason because of
which all the organizations are trying to develop their brand name in the market. Brand name
is associated with the sustainability of the company. With enhanced brand name the sales and
profitability likewise increases this enhances the scope of sustainability in the firm (Luo,
Raithel & Wiles, 2013).
With the help of effective branding strategy the companies are able to maintain consistency in
the market. With the help of sound brand name the firm doesn’t feel the need of making
changes in its marketing policy (Crass, Czarnitzki & Toole, 2019). In this manner they can
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maintain consistency and can likewise reduce the cost of their marketing operations. This
directly impacts the profits of the firm in positive manner (Trudeau & Shobeiri, 2016). Hence
it is very essential for the managers of Woolworths to enhance their branding game and
initiate actions to enhance their brand name in the market.
According to Trudeau & Shobeiri, (2016), Brand value helps in enhancing the level of trust
among the customers regarding the organizations. This benefits the organizations in long run.
The organizations are able to create a set of potential and loyal customers. Effective branding
strategy can help in enhancing the marketing game of the organizations and can help them in
joining hands with new stakeholders or customers. Effective brand name likewise helps in
improving the employee retention rate of the organization. All the individuals prefer to work
with an organization that has such renowned name in the market. They will try to achieve the
criteria of organization by enhancing their skills and this will result in enhancing the
efficiency of the organization (Trudeau & Shobeiri, 2016).
Brand value and profitability
Brand value is basically refers to the value or position of the firm in front of its customers. It
represents its recognition among the customers. Therefore brand value is interlinked with the
profitability of the organization in direct manner.
With the consent of Zhang & Luo (2016), it is highlighted that the firm with high brand value
or brand equity are able to attract the customers in the most effective manner. Branding has a
lasting impact on the financial value or financial assets of the firm. The company with strong
brand name can claim for their future and can promote the trust of their services among the
consumers (Zhang & Luo, 2016). The investors are likewise attracted towards the firm that
have sound brand name. They desire to invest in such firm with a motive to earn high profits
in future.
With the study of above content it can be analysed that brand equity is very important for the
existence of organizations in this era. With the help of string brand identity Woolworth can
attract the consumers and can enhance its market area. It can expand the boundaries of the
business to the global market. With effective branding strategies Woolworth will be able to
gain a competitive advantage in the market. It can satisfy the will of the customers and can
help the customers in getting the quality services in most prestigious and effective manner
(Zhang & Luo, 2016).
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Methodology
Data collection
Methodology is one of the most important parts of the research. It is very important for the
researchers to evaluate effective techniques of data collection and data analysis that can help
in concluding the most significant result. With desirable and authentic information the
researchers can claim their point in the most reliable and scalable manner. For the respective
research the researchers are trying to make use of the secondary data. They will try to collect
the data from online sources from different articles and journals. The concerns of different
authors will help them in understanding the importance of branding in this era and how it
impacts the profits of Woolworth. Along with this the annual reports of Woolworths will
likewise be evaluated in order to make a estimation of the position of the firm in the market
and how it is impacted by the power of branding. The annual reports of the firm will help in
making the research paper more authentic and will help in enhancing the reliability of the
research. This will help in involving the real data for conducting the research in most
advanced manner (Osakwe, Chovancova &Ogbonna, 2016). The data extracted from the
annual reports of the firm will help in estimating the profits of the firm and likewise help in
analysing its decline and increase with the impact of brand value or brand equity. Along with
the researchers will try to collect both qualitative and quantitative data for the research that
will help in enhancing the scope of the research.
Data analysis
After the collection of secondary data the second step is to analyse it and make is relevant to
the research. Both the qualitative and qualitative data of the research will be analysed in
different manner. In order to analyse the qualitative data the technique named as
Observation will be used by the researchers. In this technique the researchers will try to
observe the data and then will try to evaluate the significant information that is related to the
research or is beneficial for the same. Along with this the researchers will try to analyse the
quantitative data with the use of graphs and figures that will make the procedure of data
analysis a lot easier and reliable (Osakwe, Chovancova &Ogbonna, 2016).
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Action plan and Gantt chart
The researchers will take about a time of 1 month to plan and prepare a action plan for the
research. This much time is required for concluding the most significant result of the
research. They will try to build an action plan for the project that will help them in providing
a guideline and will help in saving their time and resources. The Action plan for the
concerned research paper is as follows:
Activity Start date End date Description
Planning 1st Aug 3rd Aug In this period of time
researchers will try to
plan the future
activities
Scheduling 4th Aug 6th Aug In this period the
schedule of the
research will be
determined
Research aim and
objective
7th Aug 10th Aug The researchers will
try to decide the aim
of the research and
will set its objectives
Research questions 11th Aug 15th Aug The research
questions will be
determined that will
be the base of the
research
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Methodology 16th Aug 18th Aug In this segment
methodology will be
decided that will help
in data collection
process
Data collection and
analysis
19th Aug 21st Aug The data is collected
from online sources
and will be analysed
with the help of
observation method
Evaluating and
research
22nd Aug 23rd Aug The data is observed
and the research is
made. The annual
sheets Woolworth
will be analysed for
the same.
Literature review 24th Aug 28th Aug Literature review will
be written that is
giving a answer to
the research question
and will help in
concluding a result
for the research.
Project proposal 29th Aug 29th Aug A proposal for the
project is prepared
for final submission
Submission 30th Aug 30th Aug Proposal submitted
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References
 Chahal, H., & Bala, R. (2017). Role of Customer Retention Equity in Creating and
Developing Brand Value. Journal of Relationship Marketing, 16(2), 119-142.
DOI: 10.1080/15332667.2016.1242397
 Crass, D., Czarnitzki, D., & Toole, A. A. (2019). The dynamic relationship between
investments in brand equity and firm profitability: Evidence using trademark
registrations. International Journal of the Economics of Business, 26(1), 157-176.
https://www-tandfonline-com.ezproxy.cqu.edu.au/doi/full/10.1080/13571516.2019.15532
92
 Franzak, F., Makarem, S., & Jae, H. (2014). Design benefits, emotional responses, and
brand engagement. Journal of Product & Brand Management, 23(1), 16-23.
DOI: 10.1108/JPBM-07-2013-0350
 Lin, Lobo, & Leckie. (2017). The role of benefits and transparency in shaping consumers’
green perceived value, self-brand connection and brand loyalty. Journal of Retailing and
Consumer Services, 35(C), 133-141. DOI: 10.1016/j.jretconser.2016.12.011
 Luo, X., Raithel, S., & Wiles, M. (2013). The Impact of Brand Rating Dispersion on Firm
Value. JMR, Journal of Marketing Research, 50(3), 399-415.
 Osakwe, C. N., Chovancova, M., &Ogbonna, B. U. (2016). Linking SMEs profitability to
brand orientation and market-sensing capability: A service sector
evidence. PeriodicaPolytechnica Social and Management Sciences, 24(1), 34-40.
http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=1&sid=6d4227bb-557d-
401b-a22b-651fdcb2ffd2%40pdc-v-sessmgr04
 Punjaisri, K., &Balmer, J. (2016). Brand value co-creation with employees through the
Leader-Member Exchange theory: the case of a corporate brand.
 Sustain your profits using Chanel’s strategic brand secrets. (2018). Strategic
Direction, 34(3), 7-9. DOI: 10.1108/SD-12-2017-0187
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 Trudeau H, S., & Shobeiri, S. (2016). The relative impacts of experiential and
transformational benefits on consumer-brand relationship. Journal of Product & Brand
Management, 25(6), 586-599. DOI: 10.1108/JPBM-07-2015-0925
 Zhang, M., & Luo, N. (2016). Understanding relationship benefits from harmonious
brand community on social media. Internet Research, 26(4), 809-826.
DOI: 10.1108/IntR-05-2015-0149
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