Thesis: Branding Affects the Buying Decision

Pages: 18 (5784 words)  ·  Bibliography Sources: 18  ·  File: .docx  ·  Level: Doctorate  ·  Topic: Business - Advertising

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[. . .] Then, the telephone numbers of fifteen hundred people was randomly generated from the national directory. Telephone interviews were conducted with three hundred and eight people, deeming a response rate of 20%. (Weiping, 2008)

A highly structured questionnaire was designed to decrease time spent on the phone for both the interviewer and the respondent. This allowed the interviewer to take notes accurately whilst letting the person on the other end relax and answer questions comfortably. A statistical analysis was done to ascertain the validity of the gathered results. The independent variables included brand trust, brand loyalty and product familiarity. The dependent variable was the future purchase intention. The 7 point Likert scale was applied for data collection. The analysis illustrated a support for the direct, positive co relation between brand trust, loyalty and between the consumer reciprocity and future purchase intention. However, there was no relationship between product familiarity and personal reciprocity. The reason for this could be that printers is still an infant industry and the respondents were young in age and therefore, had not experienced many other brands. These are the two main limitations of the study at hand.

The most optimal research methodology to this author appears to be the conjoint analysis applied in the English market. It was developed to extract concealed thoughts, opinions and ideas from peoples' heads and to understand the value each attribute is assigned. Strategic insights can lead to the launch or product development of a new, innovative and fresh concept. It gives a snapshot of the consumer's mental buying process and how they relate the trade off variant price levels with the characteristics of the brand they want most. Conjoint analysis can assist in more accurate targeting of the "right" customer profile as by questioning the importance of the features of the products segment by segment. Therefore, this is one that would be selected.

Bibliography

Brands: Kotler on Marketing. (n.d.). Retrieved March 2012, 2012, from Mars: http://www.marsdd.com/entrepreneurs-toolkit/articles/brands-kotler-on-marketing

Halliday, J. (2010, July 29). How Branding and Labelling Impact Purchase Decisions. Food Navigator .

Keith Walley, P.C. (2007). The importance of brand in the industrial purchase decision: a case study of the UK tractor market. Journal of Business and Industrial Marketing, 383-393.

Mason, S. Branding Matters.

Olfa Bouhlel, N.M. (2011). Brand Personality's Influence on the Purchase Intention:. Brand Personality's Influence on the Purchase Intention: .

Rence, E. (2006, April). What Drives Consumer Behavior. Let's Talk Business .

Weiping, T.C. (2008). Does consumers' personal reciprocity affect future. Journal of Marketing Management, 345-360.

DBA Comp Question 2 (Core)

Strategically, managers of for-profit organizations strive to maximize revenue. By contrast, advocates of corporate social responsibility (CSR) suggest managers should not maximize revenue at the expense of society. Citing academic literature, develop three positive and three negative points for the for-profit approach and three positive and three negative points for the CSR approach to maximizing revenue. Then develop a strategic direction for the CEO relative to maximizing revenue and CSR, and provide support for that direction citing academic literature.

DBA Qs 2 Answer

Corporate social responsibility considers how business entities incorporate values, ethics and the welfare of the surrounding community into its operational activities. Keeping a balance between shareholder objectives, managerial resolutions and external regulatory bodies can become a highly intricate, complex process. Communication technologies are constantly on the increment and transforming the way the world works; transparency in the global corporate realm is now a norm. With the advent of the internet, information technology has gone through a revolution and changed how people interact with each other. This has increased the flow of data and made it timelier as well as accurate. This has all led to consumer behavior being more dynamic in nature and morphed the way consumers perceive goods they consume. It is generally known that those brands that are more socially oriented tend to resonate with the target market. The traditional corporate goal of revenue maximization is no longer the average manager's dilemma. An optimal mix of CSR practices with profit rate has to be achieved.

There are diverse schools of thoughts addressing this global issue. The writer Sabadoz states that the foremost difficulty faced is in the definition of the scope of Corporate Social Responsibility. He quotes Caroll's model which is based on CSR as being composed of four constitutes that are legal, economic, ethical and "discretionary expectations." However, it is an extremely conceptual framework and needs further refinement. Given the versatile actors involved such as governments, stakeholders, other bodies etc.; it is being questioned whether CSR is an "umbrella term for disparate normative and non-normative theories." It is such a broad and ambiguous designation that it becomes confusing what dimensions to place under it. It can range from environmental standards not being met to labor exploitation

The second issue related to CSR is the incapacity of managerial sources to maintain equilibrium between profit generation and communal responsibility. The simplest manner to address this dilemma is to start at the base. The firm in question should ask itself the purpose of incorporating CSR philosophy into its business practices. It should prioritize its monetary objectives against its social ones. As this is an intangible mental process, biases can interfere with an optimal allocation of resources. (Sabadoz, 2011)

Vast discrepancies are prevalent amongst global managers regarding corporate social responsibility. The writers Yusuf Sidani and Dima Jamaii discuss the classical viewpoint on CSR as well as the "modern paradigm." The supporters of the classical theory perceive the existence of the corporation as a legal phenomenon that is to subsist within boundaries painted by the law. This includes producing maximum profit and enforcing an ethical code of conduct in its culture, workforce and vision. The latter school of thought identifies the organization as a network of individuals striving for a common target. This implies that it acts as a unit that should embody the principles of good citizenship and concern for others. Therefore, it will "bear its duties" on a "corporate scale." It is expected of them to conduct themselves with decency, responsibility, and veracity and have a wider vision for the prospective progress that the nation or local society it operates in can make. Quazi and O'Brian (2000) suggested a 2D model for CSR which integrated deviations amongst perceptions concerning social accountability with costs vs. benefits. This study was tested in Australia and Bangladesh empirically. A similar methodology was adopted for one hundred and nineteen managers from versatile fields in Lebanon. A cluster analysis indicated that 18% of the respondents followed the classical theory of management. This group did not see itself having any duty to fulfill in terms of social welfare. 20% of the respondents employed the modern perspective of CSR in their general decision making strategies in business. It believed that corporate social responsibility and business decision making was an interactive, mutually beneficial procedure. (Sidani, 2008)

A third negative factor concerning corporate social responsibility is to do with those companies that think they follow the modern view of management; yet in essence, are not. Aneel Karnani challenged the intentions of Unilever in India and Hindustan Lever Limited. As stated previously, it was imperative for a company to ask itself why it should engage in CSR services. Unilever and HLL openly declared their commitment to the cause for societal welfare as being part of their "corporate purpose." Such entities claimed to be socially aware as well as profitable. One means of being lucrative in terms of revenue as well as socially inclined is to sell to the "bottom of the pyramid." The "doing well by doing good" concept is disputed in this paper with the case of Fair and Lovely in India. It was the largest whitening skin cream in the world and has been dominating India since 1975. It was created by the internal research department at HLL and claims to whiten the skin of women. Indian culture perceives fairer women as more attractive and capable. HLL stated that it was serving a social need by manufacturing an affordable solution to solve the plight of poor Indian women. Hammond and Prahalad (2004) lauded HLL for this by sharing the instance of a poor Indian sweeper who "expressed pride in using a fashion product" that would protect her skin. However, this was questionable. As Fair & Lovely was promoted as a cosmetic brand and not a pharmaceutical product; it did not have to provide evidence of its "product efficacy." It stressed on the declaration from dermatologists that fairness creams cannot truly perform their purpose without containing skin bleaching chemicals. And some of them could be harmful. Another reason that Fair and Lovely's purpose appears to be dubious is due to the nature of marketing communication techniques it was employing. It painted the poor, average "dark" Indian female as economically deprived and depressed. She had no opportunity to work her way up in the world until she commenced utilizing Fair and Lovely. The effect on her skin makes her more "desirable" to others. This sort… [END OF PREVIEW]

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