Factors Influencing Brand Performance in the Technology Sector Report

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This report delves into the factors influencing brand performance within the technology industry, focusing on a case study of Andor Technology. The study identifies critical elements such as brand loyalty, brand commitment, brand identity, and job satisfaction, and their impact on overall brand performance. It examines the effects of brand investment on credibility and awareness, emphasizing the importance of brand reputation in the technological sector. The research also assesses the influence of brand performance on consumer loyalty, highlighting the need for companies to understand and manage these factors to succeed in a competitive market. The report includes a literature review, research methodology, data analysis, and conclusions, providing a comprehensive overview of the subject and offering recommendations for businesses aiming to enhance their brand performance. The report emphasizes the need for businesses to understand consumer behavior and adapt their strategies to maintain a competitive edge. This report is valuable for understanding how brand performance can be improved within the technology sector.
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Factors influencing brand performance
within the technology industry
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Table of Contents
CHAPTER 1: INTRODUCTION...................................................................................................1
1.1 Background.......................................................................................................................1
1.2 Problem statement............................................................................................................2
Aim : To assess the factors influencing brand performance within the technology industry – a
case study on Andor technology.............................................................................................3
Objectives :.............................................................................................................................3
Research questions :...............................................................................................................3
1.3 Significance of study........................................................................................................3
1.4 Dissertation structure........................................................................................................3
CHAPTER 2: LITERATURE REVIEW.........................................................................................5
2.1 Introduction......................................................................................................................5
2.2 Factors that influence brand performance within technology industry............................5
2.3 Effects of brand investment upon brand credibility and awareness.................................7
2.4 Importance of brand reputation in the technological sector.............................................8
2.5 Influence of brand performance on consumer loyalty......................................................9
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................12
3.1 Introduction....................................................................................................................12
3.2 Research philosophy.......................................................................................................12
3.3 Research design..............................................................................................................13
3.4 Research approach..........................................................................................................13
3.5 Research strategy............................................................................................................14
3.6 Data collection................................................................................................................15
3.7 Sampling.........................................................................................................................15
3.8 Data analysis...................................................................................................................16
3.9 Ethical consideration......................................................................................................16
3.10 Validity and reliability..................................................................................................16
CHAPTER 4: DATA ANALYSIS................................................................................................18
4.1 Introduction....................................................................................................................18
4.2 Analysis..........................................................................................................................18
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CHAPTER 5: CONCLUSION AND RECOMMENDATION.....................................................32
5.1 Conclusion......................................................................................................................32
5.2 Recommendation............................................................................................................33
REFERENCES..............................................................................................................................35
Appendix........................................................................................................................................38
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CHAPTER 1: INTRODUCTION
1.1 Background
Brand performance is the outcome that is achieved as a result of profitability and
desirability in a brand. It means that the brand has made a contribution that can be measured in
the success of an organisation. As the emphasis on corporate branding has increased, the team
for managing brand is becoming more diversified and larger because the representatives of
corporate brand influence the perception of consumers regarding corporate brand. It is important
for the staff to have congruent perception regarding identity of brand, so that a consistent
corporate brand can be projected to the consumers successfully (Luxton, Reid and Mavondo,
2015). With the evolving time, it is necessary to modify organisational strategies to be
competitive and sustain in the turbulent market. In this context, brand managers are instituted,
constant research is conducted on the performance of brand and consumer behaviour. It is
essential to evaluate the brand performance of a company within a technology industry. As the
technologies are emerging at a fast pace and to combat the competition in the technology sector,
it is vital to measure and monitor the performance of brand of the organisation. Andor
Technology Ltd is a manufacturing company that is engaged in developing high performance
light measuring solutions i.e. scientific digital cameras.
It is not easy to measure the contribution of brand in the accomplishment of business
results. It is imperative to strictly supervise the results in accordance with the funds used for
maintenance and promotion of brand. Marketing funds should be used directly for the benefits of
brand only and should not flow in the structure of conditions. The investments to be made in
brand should be designed for long term (Rowe, 2012). The plans of marketing should be
developed in such manner that it is possible to ascertain the return on investment and there is
proper allocation of investment to the brand. For this, it is important to follow discipline and
have comprehensive knowledge of marketing performances and brand. It requires know how
about components of a brand and efforts and knowledge are needed for determining return of
brand value. Brand is considered as a type of concealed asset in several businesses but it is not
the case.
Internal branding involves various strategic processes and methods that coordinate in
creating good experience in customers from the brand (Zairi, 2012). This process includes
various factors such as training, internal communication, leadership programs, recruitment,
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bonuses etc. The organisation assimilates strategies that tends to provide guidance to the staff for
fulfilling the brand promise (Trong Tuan, 2012). Internal branding ensures customer experience
and compliance expectations as it influences the performance and motivation of employees.
There is no universal or comprehensive method to evaluate a brand performance as this
can be a function of organisational or environmental strategies, mental mode of management or
function of market. In the context of employees, brand performance can be influenced by various
factors such as brand commitment, brand loyalty, brand identity, job satisfaction.
Brand commitment can be determined as an obligation that is felt by employees in
transferring the brand promise to the customers. They also have a sense of commitment to
increase the awareness about the brand of the organisation. Brand identity means employees
have a sense of belonging towards the organisation and they consider the success of organisation
as their own success. Brand loyalty means that the employees are loyal towards the brand of the
organisation which assures that in addition to being familiar with the brand, they match with the
most of the work environment (Hankinson, 2012). They act as defenders of brand by establishing
single integrated experience for the customers. When the employees feel content and have a
positive emotion towards the job, it is known as job satisfaction and it depends on the experience
of an individual. The positive emotions and feel of satisfaction is good for both employees as
well as organisation. A favourable climate is reflected due to high job satisfaction in the
organisation that helps in attracting and retaining employees.
1.2 Problem statement
The major problem that is faced by the organisation is there is no universal and
comprehensive criteria for evaluation of brand performance. Different factors such as brand
loyalty, brand commitment, brand identity, job satisfaction, customer satisfaction etc. are to be
considered for measuring the performance of a brand. In general, there is no awareness about the
brand value and corresponding brand value return (Rahbek Gjerdrum Pedersen and Sudzina,
2012). Usually, the brand value lists publishes the value of brands on a yearly basis or in case
where business is being sold and purchased. Moreover, the figures published in those lists by
different institutions are quite divergent. The financial statements of brand owners that are listed
on the stock exchange projects such value of brands that seem to be unrealistic with the
justification that adequate yield is not received by the business due to its brand value (Urde,
Baumgarth and Merrilees, 2013). Moreover, it is not easy to come with a valid statement
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regarding the quantum of contribution of the brand to the results of the business. Thus, it
becomes imperative for the organisation to strictly monitor the funds that are used for promotion
and maintenance of brands towards the result and are required to be displayed in the calculation
of products. In addition, marketing funds should be considered as investments and not as
expenses (Hollebeek, Glynn and Brodie, 2014). They should be directed for the utilisation of
brand products and must be used for the benefits of brand only even if the cash flows are not
good.
Aim : To assess the factors influencing brand performance within the technology industry – a
case study on Andor technology
Objectives :
To identify the factors that influence brand performance within technology industry.
To analyze effects of brand investment upon brand credibility and awareness.
To ascertain the importance of brand reputation in the technological sector.
To assess the influence of brand performance on consumer loyalty.
Research questions :
What are the factors that influence brand performance within technological industry?
How brand investment affects brand credibility and awareness within technological
firms?
What is the significance of brand reputation within technical industry?
What is the influence of brand performance upon loyal customers?
1.3 Significance of study
Main significance of the current study is that helps in providing usefulness to different
researchers and thus identify the importance of brand performance within technology industry.
However, present study could also be used by Phd scholars in order to assist them within their
work. Further, different businesses and managerial level people working within technological
industry refer to the thesis in order to enhance their knowledge about different factors that
influence brand performance. It also helps in clarifying different concepts and improve
knowledge regarding present topic.
1.4 Dissertation structure
The structure of dissertation is as follows-
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Chapter 1 Introduction- In the first chapter of dissertation, researcher aims to identify the
background of current research topic and thus identifies the details about the particular
topic so that research could be carried out in an effective way.
Chapter 2 Literature review- Later in this chapter of thesis it helps in conducting research
on different literature topics through using different articles, journals and websites.
Chapter 3 Research methodology- Here, using different tools and techniques it helps in
carrying out the research so that desired outcomes could be attained. Here, researcher
aims to conduct qualitative analysis using questionnaire method so that responses could
be collected from respondents about different factors that influence brand performance in
technological industry.
Chapter 4- Data analysis and findings- Here, researcher aims to analyse the collected data
and thus obtain results of the study. Thus, using thematic analysis helps in evaluating the
information obtain by scholar.]
Chapter 5 Conclusion and recommendation- It is the last chapter, in which researcher
analyses the bet possible outcomes and thus concludes the dissertation in order to obtain
best results.
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CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
It is the most crucial chapter that helps in carrying out in-depth analysis of different
literature and thus reviews the study conducted by scholars to deeply understand the topic and
related concepts. However, several authors have carried out research upon the selected topic
(Uddin, Parvin and Rahman, 2013). Through this research it helps in obtaining information from
different secondary sources and thus use different journals, articles, websites and literature of
different authors. With the help of this literature review it assists in identifying the research gap
and thus focus upon the same in order to carry out study. Hence, it helps in developing proper
research so that evaluation could be made easily.
2.2 Factors that influence brand performance within technology industry
As per the view of Parveen, Jaafar and Ainin (2015), each and every businesses aims to
maintain its brand performance in market and thus enhances the sales and profitability. It is
essential for technical industry to maintain its brand performance so that it helps in influencing
target audience and thus raise the business performance in market. There are various factors that
influences brand performance i.e. brand loyalty, demographic profile of consumers, client
preference and satisfaction level of consumers etc, All such factors helps in influencing brand
performance within technology industry and thus satisfies the needs of consumers by providing
them quality products or services. However, Kabadayi and Price (2014), argued that technology
industry needs to produce quality products or services for consumers in order to make them loyal
customers and thus ultimately it increases the brand performance in market. It also helps in
giving tough competition to rivals so that they could be satisfied from the products delivered by
firm. Brand loyalty is one of the crucial factor that encourages customers to make the brand
popular in market. Business is required to identify the several factors that influences brand
performance within technological industry so that large number of customers could be attracted
towards business and thus raise their performance in market.
Further, it is essential for businesses to undertake effective factors that carry out business
towards success. Also, it involves customer loyalty which is one of the best way to enhance
brand performance in market. It is significant for technological industry to influence customer
towards firm and thus overcome competition in market. Sethuraman and Gielens (2014), stated
that implementing all such factors helps in exploring the brand performance and influence
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potential users. With the advancement of technology it is essential for business to undertake
effective communication channel and thus invent innovative products in regard to improve brand
performance. Also, it helps in changing consumer attitudes and buying behavior and thus
enhance brand performance in market through attracting large number of customers. However, it
is essential for business to carry out effective research and development about the product so that
innovative technology could be introduced and thus improves buyer behavior.
Further, brand commitment is another factor that helps in encouraging customers towards
particular brand so that they can remain loyal towards firm and thus influence customers to
purchase products from company. As per the view of Ansari and Riasi (2016), customers also
need to have a sense of commitment and thus increases awareness among clients so that desired
targets could be attained. Thus, such factors influences brand performance and attracts target
customers towards firm and thus enhances the sales and profitability of firm. Thus, it is
significant for technological businesses to undertake effective practices and thus helps
consumers to remain brand loyal and committed so that best results could be attained. Also,
improving brand identity results in increasing commitment of loyal customers towards firm and
thus attains desired success. Through such way it results into gaining significant aspect of
individual and thus performs them efficiently towards success.
According to the view of Gao and Bai (2014), it is essential for business to raise its brand
performance through raising its promotion and thus encourages customers to improve brand
loyalty among target consumers. Therefore, technological businesses are required to carry out
effective marketing strategies and thus raise their product image in market and thus improve
brand loyalty among potential users. Brand identity helps employees to obtain a sense of
belongingness about the brand of firm. Hence, it is the best way through which workers possess a
sense of belongingness and thus it helps in raising the performance of workers towards loyal
customers. Brand loyalty is terms as the way that helps in encouraging loyal customers towards
the particular brand in regard to ensure that desired results have been carried out by business.
However, it is one of the effective factor and thus helps in influencing brand performance so that
sales and profitability of firm could be improved. Through empowering customers it results in
providing the best products or services to consumers and thus improve firm's performance in
market.
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2.3 Effects of brand investment upon brand credibility and awareness
As per the view of Durrani, Godil and Sajid (2015), investigates the effective of brand
investment upon brand credibility and awareness so that trustworthiness could be maintained.
Company needs to improve its brand investment and thus carries out effective brand credibility
and awareness so that consumers purchase intention could be identified. However, brand
awareness and brand image plays a moderate role in building effective relationship so that it
influences upon customer brand purchase intention. Also, brand image and awareness are
considered as positively moderate the relationship between brand credibility and consumer brand
purchase intention. Further, research also assesses that brand awareness is essential among
consumers and in order to maintain that, company needs to bring innovation within its
technology so that success can be attained. Organizations spends lot of amount upon brand
investment so that it positively influences customers brand purchase intention. However, brand
image and awareness are considered as effective in order to form relationship between brand
credibility and brand purchase intention so that best practices can be carried out in an effective
way. However, (Dhurup, Mafini and Dumasi, 2014) argued that investment made upon brand in
order to improve its performance helps in identifying various factors that develops strength so
that best results could be attained. Brand image is considered as the set of brand associations
which influences consumers retain in their memory for long time. Hence, through improving
brand performance in market it helps firm to retain loyal customers within firm for long term.
According to the opinion of (Barroso and Giarratana, 2013), brand image is considered as
one of the effective characteristics of strength, favorability and uniqueness of brand associations
so that consumers are influenced towards the firm and raise business performance. Company
aims to invest more upon different factors such as technology advancement, uniqueness etc. so
that it helps in raising product image in the minds of consumers. Also, firm aims to identify
brand image of business through adopting effective credibility and awareness among market so
that large number of customers could be influenced towards firm. Therefore, it is significant for
organization to adopt effective strategies in regard to overcome competition in market and thus
undertake the best strategy so that customers could be retained within firm for long time.
Wu and Chen (2014), stated that different factor identifies in relation to influence brand
image that helps in influencing brand performance within technology industry. Thus, businesses
are required to identify different factors in relation to make effective decision making so that
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appropriate improvement within the field of technology could be attained. Also, raising brand
value of firm assists in creating consumers attention and thus obtain varied information regarding
products or services in relation to attain desired results. Further, developing brand image results
in making effective investment so that sale of firm could be enhanced. Also, it is crucial for
consumers to bring enhancement in its product or service and thus raise its standard so that
competitors could be avoided. Also, undertaking effective strategy results in enhancing firm's
performance and thus identify purchase intention so that brand value of firm could be created.
However, there are different ways through which brand performance within technological
industry could be improved. Thus, it helps in raising credibility and brand awareness among
consumers and thus become loyal clients within firm (Forslund, 2014).
2.4 Importance of brand reputation in the technological sector
As per the view of (Carah, 2014) brand reputation is considered as effective in regard to
grow business in an effective way. Also, developing positive brand reputation aids in building
loyal customers so that sales and growth of firm could be attained effectively. However, in
today's competitive environment, it is essential for firm to build brand reputation management
that has become bigger priority for companies especially when online conversations about brand
take place in regard to especially obtain the results when online convenience is being provided to
clients. There are different platforms such as social media, blogs, news websites and search
engines etc. so that it helps in developing brand to be the prominent and positioned as
knowledgeable industry that is leading resource and solution to clients. Further, there are
different initiatives which are taken by businesses in relation to obtain effective brand reputation
in the technological industry so that customers could be attracted towards firm. These are as
follows- Public relations- It is essential for business to obtain strong relations with public so that
products or services could be promoted in an effective way. Also, developing effective
relationship with public results into generating trade relations with customers and thus
obtain customer opinion in regard to develop best results. Search engine optimization- As per the view of (Xie, Zhang and Zhang, 2014)
developing effective strategy in regard to adopt effective brand reputation so that
customers are required to search for different resources and solutions in order to manage
the problems timely. Developing effective brand reputation in technological industry
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results into performing the desired actions and thus improve the reputation of firm in
market. Social media- (Yeoh, 2014) stated that social media is another crucial area that helps in
improving brand reputation of business in technology market. However, companies are
required to adopt such method in order to promote its products or services so that brand
loyalty among customers could be enhanced. Thus, promoting products through social
media results into enhancing business performance and thus raises its capabilities so that
desired results can be attained.
Website development- Further, it is another crucial aspect that helps in developing
website in order to navigate features and thus enjoy the experience of using the product.
However, within technological industry, it is crucial for business to maintain its website
and thus update it accordingly so that customers could be reviewed accordingly and thus
results in performing the desired actions and improve loyalty among clients (Lee, Lee and
Park, 2013).
It can be stated that brand reputation is considered as crucial aspect that helps in
improving business performance and thus raise firm's productivity in market. However, (Kemp,
Jillapalli and Becerra, 2014) argued that enhancing brand reputation is significant for
organization so that large number of customers are attracted and thus it raises brand performance
of business in market. Through reviewing company's position or reputation it helps in promoting
the products or services as compared to competitors. Hence, it is essential for every technological
industry to enhance its reputation in market so that wide range of customers could be attracted.
While, the main disadvantage is that it requires huge amount to be spent upon promotion and
thus it increases overall cost of product. Enhancing brand reputation aids in improving business
performance so that customers could be attracted towards firm and thus build desired results in
market.
2.5 Influence of brand performance on consumer loyalty
As per the view of (Durrani, Godil and Sajid, 2015) it can be stated that influence of
brand performance upon customer loyalty is high and thus is essential for business to identify
performance of brand in order to raise customer loyalty. It is essential for technological industry
to undertake effective practices so that performance of brand could be raised in terms of
improving financial performance as well as raise loyalty among clients. It helps business to
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