The Impact of Internal Branding on Consumers Behaviour
CHAPTER ONE
CHAPTRER ONE
OBJECTIVES OF THE STUDY
- To determine the nature of branding and branding strategies
- To determine the nature of consumer behavior
- to determine affective branding strategies that would impact on consumer behavior
- To investigate the impact of branding on consumer behavior
- To investigate the impact of branding on consumer behavior in Diamond Bank Plc.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
INTRODUCTION
The topic of consumer behaviour is one of the massively studied topics by the researchers and marketers in the past and still being studied. Researchers show different reasons as to why consumer behaviour has been the topic of many academics and researchers. One of the common views is that understanding consumer behaviour has become a factor that has a direct impact on the overall performance of the businesses (Kotler and Keller, 2012). Another view suggests that understanding consumer behaviour has become crucial especially due to fierce competition in retail industry in the UK and worldwide (Lancaster et al, 2002). This chapter will introduce some other areas of research background of consumer behaviour addressing the works of researchers and marketers. Moreover, consumer decision making process, in particular, five stages of consumer decision making process will be discussed in detail.
It is worth noting that consumer buying behaviour is studied as a part of the marketing and its main objective it to learn the way how the individuals, groups or organizations choose, buy use and dispose the goods and the factors such as their previous experience, taste, price and branding on which the consumers base their purchasing decisions (Kotler and Keller, 2012).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
This chapter shows how the study was carried out. The procedures and methods employed in the conduct of this research is discussed under the following headings:
Research design
Sources and methods of data collection
Population and sample size determination
Instrument design and administration
Method of data analysis
CHAPTER FOUR
DATA PRESENTATION ANALYSIS AND INTERPRETATION
INTRODUCTION
In this chapter the focus is on method of data collection presentation and analysis.
Questionnaire administration
The analysis of the data consists of the statistic calculations performed with the raw to provide answer to the questions initiating the research
The analysis of the data collected through questionnaire is done with simple percentages.
Forty (40) questionnaire were distributed to the respondents. The researchers were able to collect thirty (30) questionnaire back and all the thirty questionnaires were manually processed and the data were reported in table with the response to the questions in percentage.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to the impact of training and development on high productivity.
In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of associated with inadequate training of the personnel of the organization and its impact on productivity.
SUMMARY OF THE STUDY
Consumer behavior involves the psychological processes that consumers go through in recognizing needs, finding ways to solve these needs, making purchase decisions (e.g., whether or not to purchase a product and, if so, which brand and where), interpret information, make plans, and implement these plans (e.g., by engaging in comparison shopping or actually purchasing a product). Sources of influence on the consumer. The consumer faces numerous sources of influence. Often, we take cultural influences for granted, but they are significant. An American will usually not bargain with a store owner. This, however, is a common practice in much of the World. Physical factors also influence our behavior. We are more likely to buy a soft drink when we are thirsty, for example, and food manufacturers have found that it is more effective to advertise their products on the radio in the late afternoon when people are getting hungry. A person’s self-image will also tend to influence what he or she will buy—an upwardly mobile manager may buy a flashy car to project an image of success. Social factors also influence what the consumers buy—often, consumers seek to imitate others whom they admire, and may buy the same brands. The social environment can include both the mainstream culture (e.g., Americans are more likely to have corn flakes or ham and eggs for breakfast than to have rice, which is preferred in many Asian countries) and a subculture (e.g., rap music often appeals to a segment within the population that seeks to distinguish itself from the mainstream population). Thus, sneaker manufacturers are eager to have their products worn by admired athletes. Finally, consumer behavior is influenced by learning—you try a hamburger and learn that it satisfies your hunger and tastes good, and the next time you are hungry, you may consider another hamburger. Problem Recognition. One model of consumer decision making involves several steps. The first one is problem recognition—you realize that something is not as it should be. Perhaps, for example, your car is getting more difficult to start and is not accelerating well. The second step is information search—what are some alternative ways of solving the problem? You might buy a new car, buy a used car, take your car in for repair, ride the bus, ride a taxi, or ride a skateboard to work. The third step involves evaluation of alternatives. A skateboard is inexpensive, but may be ill-suited for long distances and for rainy days. Finally, we have the purchase stage, and sometimes a post-purchase stage (e.g., you return a product to the store because you did not find it satisfactory). In reality, people may go back and forth
CONCLUSION
Conclusion In conclusion we have to stress the fact that brand is the factor which has an impact on consumer purchase decision-making process. Brands provide information about products and create associations that affect the mind of the consumer in purchase process. Very important category of consumer behavior research is brand awareness. Suitable forms of marketing activities as a whole can create a positive brand associations and start a purchase action of positively seen brands. Brand represents a certain value in the mind of consumer. Without the psychological linkage would be a product or a service indistinguishable from each other. Our survey was aimed on impact of a brand on consumer behavior. More than a half the amount of respondents chooses their products or services by a brand. Participated survey respondents stated that the quality is the key factor in their decision-making process of purchasing a brand. A higher quality of products, national pride, support of the Slovak economy, support of domestic producers was the most mentioned reason for purchasing Slovak brands. Current edification in Slovak republic conducted by national education project of social responsibility “Quality from our regions” aimed at supporting macroeconomic stability in Slovakia has proven very useful by purchasing Slovak brands. Previous studies have shown that brand management helps enterprises to protect their image and that a strong brand has a high market share. The actual or prospective purchaser of products or services (AMA, 2015) – customer – is an important category in brand management. A brand can be successful if the brand management system is competent and as a result of relevant marketing activities can be seen loyal and satisfied customer/consumer. Consumer behavior is influenced by a variety of factors interacting in complex ways. With better understanding of customer’s perceptions; companies can determine the actions required to meet the customer’s need (Shende, 2014). Due to the current global conditions, the marketplace is becoming a place of a super-saturation of products resulting in brand loyalty disappearance. These conditions can be avoided when companies create loyalty relationships with their customers. Therefore it is necessary that the value proposition of the offered brands meet consumers’ values and desires.
RECOMMENDATION
The study recommends that the commercial banks in this part of the country should carry out thorough hand reliable marketing research to determine the places that will be viable to establish their branches. Considering the dispersed nature of the customers in the state, bank should adopt more personal selling method by permitting their marketers to reach-out to the prospective banks customer that are still outside the banking net and make the banking services more inclusive without generating unreasonable capital cost of establishing branches to the places remote to where the branches are available. The study recommends that the commercial banks should utilize the advantages of the newly introduced cashless policy of CBN by engaging more of their customers and prospective customers to use the Point of Sales machine, to carry out their transactions which will go a long way in reducing the risk associated with the cash handling and the cost of physical transportation to the banks location. The study also proffers the prescription that the bank should sensitize and train their customers on how to make effective use of the telephoning banking to avoid unnecessary stress associated with petty transactions that do not justify the stress and cost. More so, the commercial banks in this part of the country have been beleaguered with complacent, hence leaving part of the benefit due to them unexploited as far as banking is concerns. Consequently, the rivalry institutions that are not insured and are unguided like saving and loan institutions take on these people and exposed them to fiscal danger and harassment. These informal economic participants that have no time to visit banks are left unattended to. The study recommends that commercial banks should plan and ensure that this class of people is integrated into banking world. Ultimately, customers ‟satisfaction should be watchword of these commercial banks as the study reveals that customers‟ satisfactions have significant positive impact on commercial banks performance.
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