1.1.Background
Now a days the world truth has become to be more vigilant and more attractive to something stimulating anything which shows them their status or personality or morals. Towards get perceived individual choose that brand which they think that more comfortable with it. The efforts which marketing manager stood and building a decent attempt to accomplish and they have succeeded in a few courses by carrying quality to satisfy their need. By taking this step many companies are on offering promotions of their products and goods to create brand loyalty. An arrangement of brand brand property and liabilities joined to a brand , its name and quality that upgrade or take away from the quality gave by a thing or organization to a firm
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As a standout among the most prominent and visual component of brands encourages a customer to purchase product and increase loyalty. A brand is measures as an old brand when shopper start to disregard it. This is not the ground that the brand items need quality , but rather just on ground that they taste, sound or look old contrasted with the new one. Brands were the subject of a lots of examination, including the ideas of brand identity, brand equity, advertising and sales promotions and lastly brand loyalty. Once the customer is fulfilled by the quality then it converts a customer into a loyal customer. Brand loyalty is the add on or deep assurance to a brand. Brand loyalty strength be conceived is different subjects, for example see around an collaborative point of interest, that attentive repetition gaining conduct. More established brands hint at short coming when their image information structures starts to dissolve : brand awareness and brand loyalty deteriorated (eg positive affiliations lose their quality and/or uniqueness: negative affiliation are connected to the brand ). These credits join to develop brand name and once it is effective then it makes brand equity for the brand. (kumar, desh and pawar , 2013) (mullar , locher and cretaz 2013 …show more content…
This study has been significantly impact for the fast food chains in Pakistan in order to gain insightful findings about brand loyalty and overall brand equity.
1.3. Research Objective
The main objective of this research is to explain the determinants of brand equity for local and international fast food chains operating in Karachi Pakistan to help current and potential fastfood chains on how to maximizing brand equity and how to be more beneficial from them. This will be an easy and effective way for the current and potential fast food chains currently in Pakistan or planning to start their operations in Pakistan that what factors should be focused in order to increase their profits.
1.4. Research Question
The question for this research is:
• What are the determinants of brand equity in international fast food chains in Karachi
Mise, J. K., Nair, C., Odera, O., & Ogutu, M. (2013). Determinants of Brand Loyalty and Product Quality of Soft Drink Consumers. Asian Journal of Business and Management , 1 (1), 8-13.
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
The source of the brand features is in a connection between customers and companies that sell services or products. Consumers who choose a specific company fundamentally acknowledge to prefer that brand more than other brands rooted from the recognition of the brand’s worth.
...of brand equity in an organizational-buying context. Journal of Product & Brand Management, Vol. 6(6), pp. 428-437.
The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers. The third step involves invoking positive brand response while the fourth one involves engaging the customers so as to build a brand affiliation aimed at enhancing active brand loyalty. However, some building blocks are requisite in order to achieve these steps. These...
The area under discussion of the project researched is to understand the relationship between how Hamburgers are served and how will it affect brand (fast food restaurants) image in the eyes of customers, focusing on customer traffic and sales. The action standard for the market research is placed at 80 percent or above to go. This research is conducted primarily on a living human being who likes to eat hamburger on any traditional time by asking questionnaire personally and collecting primary data to make better decision for the given objective. Subsequently, starting from the beginning two demographic segmented audiences were being surveyed depending on their age and gender. There were two age groups specifically targeted for the survey which
It helps to know the practical applicability of theories studied in class room. This helps to narrow the bridge between the classroom and real business situation. The study is concerning on the co- relation between brand equity and consumers buying behavior with respect to the maruti Suzuki car brands in Bangalore.
Even with commodities, there are quite a few parameters which brands can use to position themselves to capture a place in the consumer’s memory and consequently in their shopping basket. A few of the more widely accepted of them are: Consistency of Product Quality, Customization of the product to the extent possible, Providing a wider range of products, Identifying the most profit generating segments of the market and modifying or adding an offering to cater to their specific needs, Unique packaging, Emotional Branding and even basing branding on building a unique image to the extent of professing to have a brand personality. In fact focusing on getting consumers to build an emotional identification with the brand and its personality has a far longer lasting effect and builds far greater loyalty than focusing on just functional and utility attributes which a competitor would also able to easily match if not surpass.
3] Keller, K.L. (1993) Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing 57, 1–22.
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
This definition has clearly depicted that customer loyalty is directly related to rebuild or re-patronizes a service due to having a better experience in the preceding consumption. Here, the effects of promotion and marketing of others may turn into ineffective on the loyal customers (Uncles et al., 2003). Loyal customers usually prefer brands and once the loyalty has been established, based on the brand value
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
Rahmani, Z., Salmani Mojaveri, H., & Allahbakhsh, A. (2012). Review the Impact of Advertising and Sale Promotion on Brand Equity. Journal of Business Studies Quarterly, 4(1), 64-73.
Overall impact of brand on consumer behavior is moderate Brand name, brand loyalty, after purchase service, verification of the product; symbolic mean...