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No. Table Of Contents Page No. 1 Executive Summary 6 2 Introduction 7 3 Brand management 11 4 Elements of a Brand 14 5 Characteristics of Brand 16 6 World Famous Brands 22 7 How Does Branding Fit into Corporate Strategy 26 8 Brand Compostion 28 9 Principal of Building Successful Brands 30 10 Will Indian Brands Survive 35 11 Celebrity Endorsements of Brands 36 12 Do Brands have Power 44 13 Brand Loyalty 46 14 Research and Analysis 48 15 Conclusion 67 16 Foreword 69 17 Bibliography 70 1 1. EXECUTIVE SUMMARY Today consumers want more than just the product. They want to know why they should buy it from you, given that they could buy it from fifteen other places. So you have to bring some brand character to the advertising, promotion and positioning you do. 'Customer is King' is an overused statement today. Today 'Customer is QUEEN' with wide variety of choices and hence branding seems to be the BUZZWORD today. With volatile and cut throat competition and so many competitors mushrooming in, it has become really important for any product or service to differentiate itself from relative ones and help the customer in providing with a clear cut differentiation. Celebrities endorsing not only brands but services today The Primary objective of the research project was to study the following: Forms and reasons for Celebrity endorsements of brands. To study brand loyalty leading to celebrity endorsements of brands. The Secondary objective of the research project was to study the following: To find out brand loyalty among college students wearing different brands of jeans. To find out effect on brand loyalty with increase in price. All the above objectives are being met in the project but the most important objective of me doing this project is that, I wanted to know about the real power and influence of brand in the minds and hearts of consumers and this has broaden my knowledge and it would be of immense benefit for me in the near future. 2 2. Introduction Brands are an ever-present part of our lives- from the clothes we wear, to the food we eat; from the toys our children play with, to the drinks we consume; from our mobile phones to our cigarettes. We read about brands in our carefully branded newspapers. Brands are even newsworthy- on a typical day early in 1995 someone in the West Midlands named their baby son after a brand, Nike. If you look around you now, how many brands can you see? Try to imagine a life without brands. Walking into a shop would pose a massive challenge to your powers of communication; instead of simply ordering a particular item, you would have to describe it in detail every time. Brands are driven by the consumers. They are psychological, as, well as physical. Brands enable consumers to identify products or services, which promise specific benefits. They arouse expectations in the minds of customers about quality, price, purpose and performance. Branding just isn't part of how merchants traditionally think; they (retailers) buy stuff and sell stuff. Their focus is on items and the price of those items. That's their world. That world, however, is changing. Shoppers today have much more choice than they used to. The same item can readily be purchased at roughly the same price from any number of different retailers. In such an environment, a strong brand becomes a key-differentiating factor. Why buy khakis from Shoppers Stop, rather than any of the other stores that sell more or less the same pair of pants? Well, one reason might be that those cool TV spots with the shimmying dancers communicate something about the Shopper Stop brand that appeals to your personal sensibilities. 3 2.1 Research Methodology Methodology is a way to systematically solve the research problem. For every research work, before it is carried out and even at the time of implementation, it is very important how it is carried out. Methodology helps us to understand what care has to be taken while preparing the report. The methodology adopted here is as follows: Develop Research plan: A research plan was developed to gather the needed information. The steps involved: Collecting data. Finalize research approaches. Finalizing research instruments. Making sampling plan. Implementation 1. Collection of Data: The research data were of two types Primary data collection. Secondary data collection. Primary data was collected through personal interviews with respondents where as Secondary data was collected through magazines, journal, newspaper, websites and books. The purpose behind collecting the primary data was to get first hand information from the consumers. 2. Finalize Research approaches: All relevant data was collected by conducting a survey. The purpose behind choosing the survey was to test the brand loyalty of jeans among college students. 3. Finalizing Research Instruments: The research instrument used in collecting primary data was Questionnaire. The questionnaire was designed in such a way to cover as many aspects of consumer behaviour as possible. 4. Making the Sampling plan: After deciding on the research approach and instruments, the sampling plan was design. The sampling plan was designed taking into three decisions: Sampling Unit: The main purpose of the sampling unit is to know whom to be surveyed. In this survey, the sampling units were college students wearing jeans. Sample Size: Total 89 contacted were contacted and interviewed. Out of these, 14 questionnaires were rejected due to incompleteness, conflicting answers etc. Therefore, the final sample size was of 100. 4 Sampling Procedure: The sample size was collected from students of various colleges. The respondent was contacted at his/ her workplace through an appointment through telephonic conversation 5. Implementation: Before starting the actual research, I prepared a questionnaire for pilot study. I interviewed a random sample of 10 respondents. Through the pilot study, I came to know which questions were wrongly worded, which were ambiguous, which needed to be added or to be subtracted and modified, etc. On the basis of feedback of this study, I modified the questionnaire. The modified questionnaire was then showed to my secondary project guide, Prof. Mr. Vikram Shrotri for his suggestions. After giving a due consideration to Prof. Shrotri's suggestions, I prepared the final questionnaire in accordance with the objective of the research. The final questionnaire was used in the research after getting Prof. Shrotri's approval. I selected different from different colleges of the city to do study so that the place bias could be reduced to the best possible extent. I contacted respondents personally and got the information as per the questionnaire. Sometimes it happened that respondents told lie, when asked about their regular brand, total expenditure on their regular brand, etc. So I have discarded their questionnaires. To reduce the magnitude of this problem, I selected respondents whom I saw wearing jeans of brand mentioned in my questionnaire so that correct information can be verified. Many of my questions were designed to cross check the answers of the respondents. I tried to make the questionnaire as comprehensive as possible to cover various aspects related to my research. The questionnaires were handed over only to those respondents who showed desire to fill up them on themselves, whereas in most cases we have filled up the questionnaires as per their answers. So that they might not feel boredom or confusion in filling up the questionnaires. 2.2 Limitations Every research is conducted under some boundations and this research is not an exception. Limitations of this project are – The sample size of 75 is too small to project the buying pattern of students and to come to a very accurate conclusion. There might have been tendencies among the respondents to amplify or filter their responses under the testing conditions. 5 Since the study involved sampling method, 'Drop in' or 'Go through' error might have crept in. Since the results have been drawn on the basis of the information provided by the respondents, chance of response error might have crept. Buying behavior is an attitudinal, which needed specialised knowledge of the area, so there is chance for interpretational error. The biggest constraint was the time factor; the no. of days available to complete the project work was very less. There is a shortage in the amount of information available. Many of the Respondents vaguely answered stating that in their case their policy procedure was wholly undertaken by the agents. Some respondents who filled the questionnaire unwillingly, their response might have been different than their opinions. The project may lead to many contradictions in ideas. Besides the questionnaire being more of a closed-ended type it is very much possible that someone might have a thought otherwise but having some options, selected one of those. Though best efforts have been taken to provide accurate results, but accuracy level might have affected due to personal barriers while processing a data. 6 3. Brand Management Brand Management is the systematic and continuous process of building and sustaining a brand's long-term competitive advantage. Effective brand management demands constant monitoring and interpretation of consumer attitudes and behaviour, and of competitive operations. All aspects of brand activity must be managed to reflect consistent brand positioning, and to secure the brand's long-term future as well as short-term business results. 3.1 What's a Brand? Brand is a broad term used to describe product identification by word, name, symbol, or design, or a combination of these. The marketing guru Philip Kotler in his classic textbook Marketing Management defines brand as 'a name, sign, term, symbol or design, or a combination of these, which is intended to identify the goods or services of one group of sellers and differentiate them from those of competitors.' Richard Koch in his book The Financial Times A-Z of Management and Finance defines a brand as 'a visual design and/or name that is given to a product or service by an organisation in order to differentiate it from competing products and which assures consumers that the product will be of high and consistent quality.' Management thinkers today strongly believe that customer is King. But truly speaking he is not King. He is Queen with wide choices. The single most important job in marketing is the job of creating and also retaining a customer. Numerous studies across the world have proven that the best way of creating and retaining customers is by building strong brands. Now what are brands? Products? Enhanced products? Products with names? In a simple equation: BRAND = PRODUCT + IMAGES + ADVERTISING 3.2 Introduction to brands John Stuart, President of Quaker Oats Company once said, "If this business were to be split up, I would be glad to take the brands, trademarks and goodwill, and you could have all the bricks and mortar-and I would fare better than you". Such is the confidence of people on strong brands. 7 Brands are an integral part of the product policy. The most distinctive skill of marketers is their ability to create, maintain, protect and enhance brands. Brands are long-term investments made by the companies for their future to be certain. Companies spend huge amounts of money for the creation of a powerful brand. A strong brand sure does drive the sales of a company. An estimated 21,000 brands were launched all over the world in the year 1999. 3.3 Brand Defined "A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors." "The brand name is a distinguishing mark which identifies the product in a unique and different manner from other similar products." "A brand is a distinguishing name and/or symbol (Such as a logo, trademark, or package design) intended to identify the goods or services of either one seller, or a group of sellers, and to differentiate those goods or services from those of competitors." For example: PEPSI and COCA-COLA are two different brands. A brand thus signals to the customer the source of the product, and protects both the customer and the producer from competitors who would attempt to provide products that appear to be identical. There is evidence that even in ancient history names were put on such goods as bricks in order to identify their maker. A brand is much more than the mere products it stands for. A brand is the amalgamation of the physical product and national images that go with the brand when we recall a brand, not only do we recall the physicality of the product but also the image of the conjures. Example: Sundrop = Sunflower Oil + (Healthy family + Happy Children + Loving mother + Tasty food +…) Piyush Pandey of Ogilvy & Mather (O&M), leading advertising firm, says that: "We work not for ourselves, Not for the company, Not for the clients…. We work for brands…." A brand exists in the mind of the consumer. It is a unique set of perceptions, triggered by the distinctive name, symbol and design appearing on the product(s) and service(s) of the seller. 8 These perceptions are a result of both functional characteristics and non-functional values. To the consumer, they must 'add value' to the basic product offering, and form the basis of differentiation and long term preference over competition. A product is not the same as brand: a product is what the manufacturer makes; it comes off the production line with features and functions but with no 'relationship' to consumers. Once it has acquired a distinctive name, symbol, design, packaging, advertising, etc., begins the transformation from product to brand. It is a unique combination of perceived functional characteristics and non-functional values which constitutes a brand. A brand is a product that provides functional benefits plus added values that some consumers value enough to buy. Brands do differ from each other but distinctiveness over and beyond this is highly desirable. Brand is the proprietary visual, emotional, rational, and cultural image that we associate with a company or a product. When we think Volvo, we might think safety. When we think Nike, we might think of Today, businesses are fighting out their marketing warfare not merely at the product attributes level or at the advertising campaigning level, but it is also happening at several other levels. It is at the totality of the image that their brands create in the minds and hearts of their customers. Marketers are concentrating on building brand values, images, power and authority centered on customers - their self esteem, their dreams and aspirations - whether the fight is between Coke and Pepsi, HLL and P&G, Siemens and L&T. To sum up we can say, "BRANDING IS IMAGE BUILDING" 9 4. Elements of a Brand What is a Brand? A slogan An identity A source of information A company An advertising image An added extra A product A logo An image A service A person 4.1 Elements of the brand – FROOTI Slogan: 'Just like that' Product: A mango drink. Logo: Simple and distinctive. Means of Identification: We can easily identify the pack of Frooti among the other packs of juice. It is highly recognizable. Advertising Image: Linked to the slogan; just like that. Person: Frooti is linked with Digen Verma, however the identity of Digen Verma is not revealed. Image: The image of Frooti is reliable, high quality, traditional etc… Identity: This includes the appearance of the pack that has the distinct colour combination of orange and green. 10 4.2 What makes up a Brand identity? Brand identity includes brand names, logos, positioning, brand associations, and brand personality. A good brand name gives a good first impression and evokes positive associations with the brand. A positioning statement tells, in one sentence, what business the company is in, what benefits it provides and why it is better than the competition. Brand personality essentially adds emotion, culture and myth brand identity by the use of a famous spokesperson, a good example of which is the DSP Merrill Lynch bull. Brand associations are the attributes that customers think of when they hear or see the brand name. A brand identity is the public image of a product, line, or service. It is a visual connector from the company to the individual customer. A good brand identity stands out from its competitors, as it demands attention and more effectively markets to its audience. A good brand identity communicates directly and indirectly. It consciously and subconsciously draws a consumer to a product, line, or service…. and to the company. A good brand identity is a primary contributor to the bottom line of increased revenues. 11 5. Characteristics of a Brand The Brand states ownership At its simplest, branding is a statement of ownership. Everything in today's commercial world is branded, from the clothes we wear to the water we drink. Branding can be traced back to trademarks placed on Greek pots in the seventh century BC and later, to medieval tradesmen on their products to protect themselves and buyers against inferior imitations. The brand is a product In the beginning came the product and then the brand. Branding was a mark on the product-a signature or a symbol – signifying its origin or ownership. The product stands alone; the brand exists within corporate ether. The product comes first and the brand does little more than make it clear which company made the product and where. Brand Product 12 The Brand as a Product The brand provides information The point of brand is, and always has been, to provide information. The form of the information varies from market to market, and from time to time. Some products make a visible statement about their user's style; modernity or wealth-example includes clothes, cars and accessories. There is the physical information and there is the abstract information. If you don't believe that brands can be informative take a pack of Frooti; information comes in variety of forms; the packaging tells us something about the product. The brand is a rich mixture of the standard ingredients; the packaging- manageable size; physical appearance and our feelings and expectations. PHYSICAL TRADITION APPEARANCE SENTIMENTS CONTENTS FROOTI ADVERTISING BOLD COLOURS The Frooti Brand The brand is an experience Increasingly, people's perception of what constitutes a brand is widening. Instead of being sacrosanct and untouchable, the product is beginning to be regarded as one element of the brand. The product is now recognized as only part of what the consumer experiences of the total brand. 13 5.1 The Role Of The Brand A brand is a necessity for a business and – whether the manager likes it or not – a business will have a brand profile. Working actively with the brand, rather in the classical business sense leaving it to the customers to work out what to think about the company, will give the organisation some distinct advantages. The advantages can be summarized in two categories, first it is financially beneficial for the company, and second it gives the employees a sense of purpose. While the former aspect is well recognised it is worth considering what a well-defined brand can do to a company. A brand that the employees can be proud of, and feel a sense of belonging to, can have considerable positive effect on the morale in a company. Brands often represent continuity which is important in the sense of keeping customer relations; brands are often much older than the companies handling them. It is apparent that the brand is a strategic business activity. It is not privilege of the marketing department; as it is fundamental to the business success it must be the concern of top management. 5.2 Basic Brand Structure Relevant Benefits Features (Branding) and Attributes Fig-1 (Core product) Above figure typifies brands that emphasize functional characteristics. Companies using this approach concentrate on promoting their brands on the basis of the function features and competencies the brands possess. An example of this would be the brands built by the companies such as Sony Corporation. The features define the core product while quality, reliability, service aspects, and reputation form the relevant brand benefits. Brand Core Features Values and Attributes (Personality) (Core product) 14 Another alternative approach to brand building is to center the brand around its core values, usually personality characteristics, and then build product (service or company) features, attributes or benefits as illustrated in the above figure. 5.3 BRAND DIMENSIONS What is it? How do people feel about it? What is it for? What does it do? Do they respect it? ESSENCE 4.4 How Brands Work Brands work by facilitating and making more effective the consumer's choice process. Every day an individual makes hundreds of decisions. Countless products and messages competing for attention besiege him or her. To make life bearable and to simplify this decision – making process, the individual looks for short – cuts. The most important of these short – cuts is How is it better? What the past. to rely on habit – buy brands that have proved satisfactory in does the This does not mean that company stand for? 15 How is it different? What are their aims? people are totally brand loyal, since most of them know that many brands will satisfy their needs. Most people ask for Frooti but they are not too disappointed when they are offered Maaza. But this habit rule is not just based upon experience of use; it can also be based upon longstanding perceptions. People can have quite strong brand preferences even though they have never brought the products. Successful brands are those, which create the image or personality. They do it by encouraging customers to perceive the attributes they aspire to as being strongly associated with the brand. These objectives may be real and objective (e.g. quality, value for money), or abstract and emotional (e.g. status, youthfulness). 4.4 Why Do Consumers Like Brand? People are always talking about brands. Even young children discuss their favourite brands. Why then do the majority of consumers prefer to buy branded products and services as opposed to commodity type goods and services? There are several reasons for this: Brands generate choice Brands provide consumers with a means of choice. The mere existence of brand name makes it easier to differentiate one product from another. Over the years, the power of the consumer in terms of knowledge and rights has risen while the broadening range of brands facilitates the freedom of choice, which is valued so highly. Customers have better knowledge of branded products and services than they do of commodity types. As such, customers are able to choose easily from among branded products and services than unbranded, unfamiliar, and similar offerings. Brands simplify decisions First, brands make shopping easier because branded packaging facilitates quick recognition of a product. Living in a fast-paced world, people are constantly looking for ways to make their lives les frustrating. Second, branding often helps arriving at a purchase decision more quickly. This aspect is particularly important to people who are buying technical products, as they do not always understand all the specifications and jargon fired at them by sales staff and promotional leaflets. Brands offer quality assurance and reduce risk 16 When customers repeatedly buy a certain brand, they quickly get a feel for the quality and value for money they can expect from that brand. For example, stepping into a Mc Donald's outlet anywhere in the world, one knows precisely the quality of food to expect. This expectation helps a customer avoid risk associated with buying untried products and services. Most customers are risk averse and avoid the unknown, but brands offer them security and reduce worry and fear. In addition, if a brand fails to live up to its acceptable level of quality, customers have recourse to the manufacturer. Companies, as a result, try harder to maintain quality standards and their reputations. Brands help self-expression An important reason why most people prefer brands is that brands provide an avenue for self- expression. Such psychological need is often at the heart of a purchase decision because brands become the means through which people can express their personality, aspirations, and achievements. By using or wearing a particular brand, customers can express something about themselves that normally they might not be able to or willing to do. In India, it is common to find successful people expressing their wealth or success through their Mercedes-Benz cars or Rolex watches. Consumers buy expensive and prestigious brands of goods because possession of these outward expressions of success differentiates them from other people, and gives them the opportunity to stand out from the crowd. Prestige brands are world famous, and there is no shortage of people waiting to buy them. Brands offer friendship and pleasure Brands offer psychological benefits that far outweigh the practical benefits of the product. In some cases, consumer form strong associations with a brand, leading to friendship and dependency. The value of logos and names increase as brand association becomes more indelible in the psyche of the consumers. Logos and names become triggers that, upon recognition, recall memories and feelings associated with the brand. Brands therefore create intense emotion and pleasure. 17 6. Brand Stories – World Famous Brands The origin of branding goes back a long way. Brands were originally distinguishing marks placed by one means or another by owners on their products and animals. Brands still fulfill the basic function of differentiation today, but the techniques of branding have progressed enormously. Branding is now a sophisticated process that puts together and sustains a complex mixture of attributes and values, many of which are intangible. The objective of branding is to produce a unique and attractive offering that meets both the rational and the emotional needs of customers in a better way than the competition. Some brands fail, while others succeed. It is difficult to analyze the determinants in each case; such is the complexity of the art of branding. Even companies that have developed famous brands will not be able to give a precise answer or show a grand plan road -mapping their success. In the end, it is the consumer that chooses. Perhaps our inability to pinpoint why the brand is amazingly successful while other remains mediocre is a reflection of our inability to discover what drives human behaviour and how people make their choices. It is this mystery that makes branding both intriguing and exciting. 18 6.1 Some of the world famous brands are as follows: XEROX From a makeshift laboratory in Queens to becoming one of the most well-known products in the world, Xerox stands as an artifact of American history. WRIGLEY The most popular gum in the world GOODYEAR It all began in a converted strawboard factory on the banks of a little river in Ohio…no one would have guessed that this company was on its way to worldwide market domination BLAUKPUNKT A brand with more than 70 years of tradition, Blaukpunkt has sold more than 70 million car radios throughout the world and has become the market leader in its category DOMINO'S This pizza giant overcame some great adversities in its time…only to become one of the leading names in pizza, the world over. BACARDI 3,500 pesos bought Don Facundo Bacardi Masso a small distillery and a colony of fruit bats…armed with a secret rum formula and the bat as its trademark, Don Facundo introduces a special spirit to the world. BOSE Representing the best in acoustic equipment, Bose products have been technically and aesthetically, a cut above the rest. DR PEPPER Sold for the first time in 1885, this carbonated drink soon became a favourite amongst Americans for its unique flavour. 19 ADIDAS One of the most popular sporting brands, adidas was founded by Adi Dassler, a German cobbler who overcame his limitations and came to be known to the world as the 'Equipment manager of the world. ATTORDS 'The curiously strong mint' CHIVAS REGA Scotland's prince of whiskies VOLKSWAGEN The people's car ROLEX The finest in watches ROLLS ROYCE Rolls Royce, the car of cars, and the name is synonymous with motoring excellence. It is a tradition of quality that has made it one of the world's most celebrated marques. LEVIS Probably the greatest name in Denim, Levis has become the quintessential garment all over the globe, especially with the youth. ZIPPO Maker of the world famous windproof lighter with the Lifetime guarantee, Zippo has produced about 325 million lighters till now and are still going strong. PEARS Clear, pure and transparent, Pears, the preferred soap retains its original composition, even today. AMUL Quality and reasonable prices have made AMUL a household name for dairy products in millions of homes in India and 20 across the world. BAND-AID This wonder strip known as band-aid, which completed 75 Years n 1996 reigns supreme as the leading brand in its category today. NOKIA Global mobile phones giant, Nokia has an interesting history, which started, in a Finnish paper mill in the 19th century. TIMEX Timex started with making timekeeping affordable for working class Americans...but this giant soon became one of the markets leaders of this planet. NEROLAC Adorning the walls of numerous homes all over the country, Nerolac was born in 1920, as the whole world experienced the aftermath of the world war. KENWOOD It has brought the best in audio to people the world over. What began in a small way in the year 1961 is now one of the top players in the global marketplace. 21 7. How Does Branding Fit Into Corporate Strategy? Branding has made marketing more strategic than it was two decades ago. The marketing mix is now seen more as an arsenal of tactical weapons, with the brands playing the big guns. Top brands have their own vision, mission, financial and marketing objectives, and a whole array of strategies to achieve these ambitions. The top brands are run as corporate entities in their own right, right down to their profitability and equity valuation. Companies possessing strong international and global brands can achieve huge rewards. In some cases, the brand is the company and the company is the brand. From this viewpoint, brands are a vital part of corporate strategy. Much has been said about globalization and competing in a borderless world with international goods and services both in the domestic and international markets. It is hastily assumed that the competition will be between products- judges on quality, service, and supply. In fact, Asian goods, still viewed and promoted as products, will come up against not just other products but established brands. For Asian companies, the branding route is undoubtedly the one to travel. Companies are unlikely to attain world-class financial performance or global recognition without building at least one strong brand, whether corporate or product. Branding is strategic and should be a permanent item on boardroom agendas. Companies' visions and missions are often defined, and strategies are put in place to help achieve them. Brand and corporate strategies are extremely close. A strong brand platform (the way in which a brand is positioned and given personality) becomes the raw material for product development and differentiation meaningful to the consumer. A clear brand strategy provides the foundation for image development-"glue" that binds all strategic activities in a co-coordinated and synergistic way. Internally, a strong, well-defined brand strategy will help assist employee understanding of the company's strategic marketing objectives and their roles in achieving these objectives. Branding is a powerful message that speaks to who we are, what we want and who we wants to be. Brands humanize the product or service and give it a personality all its own. 22 7.1. Branding – Getting More And More Importance While branding as a set of activities has been around for a very long time, increasing attention has been given to the process in recent years. There are several reasons for this, the main one being as follows: A tremendous amount of commercial message In major countries with a commercial infrastructure the average person will have atleast 1,000-2,000 commercial messages beamed at him / her every day. One hundred years ago it might have taken a year to get to the same level and only on the local market day would the people have got close to the cascade of messages we experience every day. Product and brand proliferation Twenty years ago the average supermarket carried 3,000 – 5,000 items, today an average supermarket carries some 20,000-25,000 items. In other words, the average consumer is exposed on his/ her shopping trip to four to eight times as many offerings as twenty years ago and needs ways to cope with identifying all the different items on offer. Decrease product differentiation Although the trend towards product nivellation is much slower than most experts predict and there are still many ways of making one product or service better than another, the facts remains that the difference between the 'poor' and the 'good' alternative in most market sectors has narrowed significantly. The bad products are not as bad as they use to be. The tangible aspects of the product or service are becoming more similar, the intangible aspects, the abstract values, are increasing in importance. 23 8. BRAND COMPOSITION BRAND COMPOSITION RATIONAL EMOTIONAL SENSUAL APPEAL APPEAL APPEAL Rational Appeal These relates to the physical features that are embedded in the brand Ex: 4 stroke engine (Hero Honda) Emotional Appeal These relates to the images or the associations a customer displays with respect to the brand. That is to say emotions about the brand Ex: Raymond (The complete Man) 24 Sensual Appeal These relate to the feelings – sensous image the brand stands for the consumer. It should trigger a feeling Ex: Liril (Freshness) 9. Benefits of a Strong Brand Better Customer Attention 'TATA' products draw better customer attention Commands higher price 'Sony' TV/Handicam or any product is always higher priced in its category Improves Customer Loyalty 'Times Of India' loyalists prefer reading only 'TOI' Increases Sales Customers prefer to purchase 'Amul' butter to others Creates barriers to competition 'Johnson & Johnson' has prevented competitors in their Baby Product Category worldwide Improves Share Price Strong brands like 'Nestle' improve company share price Improves reputation/goodwill People trust few cos. With strong brands, which enjoy their goodwill like Reliance Industries Limited (RIL) Motivates employees Rated as the best Indian employer, 'HLL' attracts students from Premium Business Schools Creates grounds for launching new products It became easier for 'Britannia' to launch their butter because of the customers impression of their biscuit brand 25 9. Principles Of Building Successful Brands A successful brand is built around 4 principles: Quality Product meeting or exceeding continuously the functional needs. An attractive Wrap-around to differentiate and enhance appeal. Delighting customers with additional products or services to augment basic appeal and Ensuring origin of trials leading to repeat-buys. Brands Built Over A Period Brand building process takes place over time & is a continuous process. If the product idea has an intrinsic USP, establishing a brand is much easier. Brand Building By Taking Advantage Of World Famous Events Like World Cup (Cricket) Surf Excel's advertising during the world cup was talked about. The brief was to link Surf Excel with cricket and at the same time brings out the brand's functions and benefits like stain removing. The advertising highlighted the core benefit of the brand -- removal of stains. That is why the client bought the idea immediately, even though the idea was not typically Lever. This ad. Campaign is an example of how a company can build its brand image by keeping a close watch on events taking place all around the world. Brand Building Through Shift In Ad Strategy Onida's brand image was being threatened by umpteen brands. It wanted an advertising strategy, which could communicate its contemporary, youthful premium brand image with an aim of cheeky arrogance. This arrogance stems from the fact that their TV is the best. This time they changed their familiar and successful devil, as they believed that the core of the brand is more important than symbols like the devil. So the new ad with the airplane. This is case of changing the brand image through advertising. Reinforcing The Brand Image 26 Kelvinator has reinforced it's 'the coolest one' image with a series of ads. For example, in one of its advertisements a man sings attuned but gains appreciation when he feels cold and sings in his shivering voice once the refrigerator is opened. Despite Kelvinator's ownership being shifted from Whirlpool to Electrolux, the consumers' still associates Kelvinator with 'the coolest one'. The ads were basically meant to bring Kelvinator back to top of mind consciousness. The idea came from rustic reasoning and the ads are being aired on star sports and Sony. This case endorses the fact that advertising can play a vital role in fixing the brand's image in people's minds. Building Brand Image Keeping The Competitors In Mind LG Electronics Fridge Sub branded PN System (preserve nutrition), was positioned as nutrition preserver. The ads said "from today, all other refrigerator become history; drawing attention to something that pushed their one benefit further towards the consumer. The advertising aimed at both the head and the heart. CTV It was positioned as the right set for wrinkle free vision, nothing terribly 007-ish in it. The CTV's eye adjusts itself to lighting conditions. This was there in other CTV's also, so LG used preemptive advertising strategy to build its brand image. Washing Machine For this, feature positioning was used. Their washing machine was called the 'chaos punch +3' and the feature highlighted was that the punch detangles clothes before washing them. 27 A collection of such advertisements on products from the same company are proof that LG is presenting itself as a quality brand which can provide customers with top class products for their home. Advertising Using A Unique Theme BPL, as is talked about, is the only brand that has not compromised on quality so far. It has invested a lot of time, money and effort on brand building. The 'Believe in the Best' campaign was able to establish BPL as an Indian brand with international quality products. And that is one of the chief reasons why it is still at the top. Its April 99 market share was 19.7% compared to Videocon's 13.8% and Onida's 11%. One can use a theme to project its image and it is fairly understood that no one will copy it. It can be used again and again in different contexts but reinforcing the same idea to ingrain the brand in the minds of the consumer. Branding Against Competitors Whirlpool The company is currently building vehemently on its brand. With ads like Whirlpool Quick Chill and Whirlpool Washing Machine it is placing its durables as the ultimate machine to be had in a household. Attributes like faster ice formation, agitator wash are highlighted specifically in ads placing the brand in a high pedestal and giving it a highly polished image. Branding An Industrial Hi-Tech Product INTEL It is the world's tenth most valuable brand. It is targeting the mainstream market, with a special accent on home pc market, along with office use. Its global advertising sees the blue door opening- the viewer is sucked down a flash whirl, virtual town. The shear technical wizardry of the ad spots gelds the aura of a very high tech product and in this case well becomes the message itself. It also links it to the excitement of surfing the Internet. It has positioned the brand as the Internet dream machine. Emotions In Brand Building 28 Wheel detergent powder was advertised using the emotion anger. Although it sounds negative, the trick clicked as the angry lady was calmed when she used the detergent, which brought award to her husband. A successful campaign fixing the brand as a household middle class product with the customer can identify. This is absolutely different Maggi Maggi tomato ketchup is illustrated as, 'Sauce ka big boss'. The tag line of Tomchi is 'not too hot, not too sweet, tastes just right.' Appears to be a direct hit at Maggi's 'its different' hot and sweet sauce. The communication is based on positioning of 'tomchi' as a sauce, which has a perfect balance of tomatoes for sweetness and spice of chilies. The Maggi sauce campaign with its famous actor Ajit jokes-'Lily, don't be silly' or 'Boss has gone for a toss', was path breaking. It has made the brand memorable. There is a new ad now, which explains the expansion advertising strategy Maggi is continuously following upon. But whatever be the product, Maggi has remained and will remain etched in the customer's mind as a dependable and quality brand. Building Brand Through Corporate Advertising ICICI ICICI has been building its identity over the last couple of months and the impact is that now a common man knows what ICICI stands for. In the common parlance it denotes trust and confidence. The new identity has given ICICI extra mileage in everything and the advertisements have built trust in the group name thus helping leverage each product through cross-synergies, seamlessly. This trust has been built at a lower cost. The communication device used is very interesting as it educates the common man about his own money. This is a financial brand in the offing. (Currently their ad. campaign has again undergone a change. Now they are focussing on "hassle free banking".) 29 DeBeers The Debeers advertising has rocketed this non-traditional brand from 1995 and its market has grown stupendously by 19.4% in 1997. The ratio advertising to incremental sales was 1.2:100. The Debeers Consolidated Mines manages consumer demand using advertising, publicity and trade. The brand plank was: diamonds are more modern and aspiring as compared to gold. Communications had two options: the woman as a self-purchaser buying with and without her husband's approval or the husband surprising the wife. The second was preferred and thus the product was positioned as a highly emotionally charged surrogate for status. In TV there were two spots – 'Architect' and 'Hotel spot'. Print advertising focussed on creating identification with women portrayed and directly compared costs with that of familiar objects. Diamond-testing information below the ad addressed the 'knowledge issue'. These efforts changed the attitudes of viewers against diamonds. In 1997, diamonds were seen as more personal gift. Nevertheless, diamonds had an upper hand on god only in terms of beauty and status. In 1997 only, major change was in media when recall leapt up. The new wedding strategy was used and the new international 'shadows' execution looked stylish and elegant. Infomercials were run which addressed price, confidence and knowledge issues, the channel thus enabled them to get a long, complex message into a medium having greatest reach and impact. No wonder DeBeers is now a name in itself. Vicco It took Vicco 27 years to carve out a niche for itself. After five unsuccessful years of trying to sell Vicco Turmeric, it decided to use a fresh strategy. Other than packaging, communication of the brand was an important aspect used. Using the traditional 'haldi' ceremony, it positioned the product in the minds of the Indian women category. The core theme rekindled memories of tradition and happiness but also insisted upon 30 daily application of the cream. It also came up with a vanishing cream formulation and after extensive advertising in over a thousand movie halls and the television, the brand began to gain acceptance. Fair and Lovely's introduction did not dent Vicco's sales while Sangeeta Bijlani endorsed the brand. With continuous harping on the natural benefits of turmeric cream, Vicco went ahead unfaltered by fairness creams and came to be known as a nationally recognized turmeric cream. 11. Will the Indian Brands survive? A product is what a company makes. A brand is what a consumer buys. A brand is a set of perceived values, which the customer develops for a particular product. It is not the product, but its source, its meaning and its direction which defines its identity on time and space. In the light of the above mentioned, during the post liberalization period, the Indian brands have not done too badly. Look at Telco, Onida, Vicco, Dabur, Dey's Medical etc. who have been able hold their own against multinational brands in their own ways. At the same time some of the MNC brands such as Ray Ban, Kellog's, and Sony had initially fallen victims either to Indian customer's equations of value for money or fake rivals or the engrained consumer's habits. On the other hand, local brands have one common advantage - their intuitive understanding of the local markets. Some of their winning strategies are indigenous engine research and development (Telco), leveraging ethnic connections (Dabur and Vicco), capturing niches (Dey's medical with Keo Karpin), encashing on the large-scale consumption of commodity items (Tata Tea, Tata Salt, etc.) Strategic alliances (Titan with Timex for plastic watches), consistent promotion (Amul, Frooti, Rasna etc.). To understand whether a brand will survive, one has to go to the core-beyond the great product and the core benefits, the continuous improvements per changing needs of the consumers, the continuous additions of distinctiveness through effective communication; the image of the company behind it and not least of all the people behind running the company and the brand. Effective Branding is the continuous process of wrapping distinctiveness and add values around products and services that are highly appealing, themselves, to offer consumer's quality, delight and feelings of faith and confidence in meeting their aspirations. Finally it is only the fittest brands that survive isn't it? The secret lies in invigorating and rejuvenating to keep the Brands in a fit condition. More than a century old Brands like Coke, Levi's etc. are still young and kicking. Aren't they? 31 12. Celebrity Endorsement Of Brands Once upon a time in the era of DD, advertising was a simple affair - you simply employed a "model" (any reasonably good looking ordinary man, woman, child) that stood in front of the camera and told you why you should buy "SHINE IT" powder as opposed to " SCRUB-IT". Those were the days when India was a sellers market - if you wanted a car you had to buy an Ambassador or Fiat, if you wanted to fly down to your native place you had to fly the "Indian Airlines". Simply put you did not have a choice then. Fast forward now to the present - You want to buy a car, which one will it be - you first answer the question whether you are looking for a small, medium or a big car? Then you have choices in each range - Maruti 800, Santro, Matiz or Ford Ikon, Esteem or Lancer, Honda City - the list is endless. After a long search you narrow down your search to a Santro or Matiz. You come home at 9.00 p.m from work and switch on the T.V, on comes Shahrukh Khan (your all time favorite actor) driving a pretty young thing in a Hyundai santro to a wedding. Miss Pretty young thing cannot take her eyes off Shahrukh and the car. In that instant you decide which car you will buy - the Santro, but, of course! Why? Simply because your favorite star drives it. Ladies and Gentlemen welcome to the world of brand endorsement. As it is discussed earlier that a brand is a name, a sign, or a symbol such as a trademark or logo that identifies a product or service and differentiate it from similar products or services. It is different from a product, in that the product performs a task for the user while the brand adds value and covers the source of the product protecting the customer, producer from competitors who would attempt to provide products that seem to be identical. What is in a name, Shakespeare said once. Contemporary marketers and advertisers would however debate our learned scholar by saying, "What's not in a name"; a belief that reinforces every time a celebrity endorses a brand. Once the name is obtained, the brand attributes can always be matched to the brand. For the advertiser, what counts is how much Sachin or Hrithik can sell and how quickly. Marketers use a whole lot of tactics to draw the consumer's attention to their brand - one of these is getting celebrities to endorse the products. A celebrity may be the embodiment of the company's image. When celebrities endorse a brand, customers become aware of the product/service such that they totally believe and trust that the purchases will meet their requirements and expectations but all this provided there is a proper fit between the chosen celebrity and the brand. A well - chosen celebrity can draw attention to a brand e.g. Tiger Pataudi, the dashing Nawab endorsing the range of premium suiting Gwalior. A celebrity can transfer his / her 32 mystique, social standing to the brand e.g. Amitabh Bachchan, the badshah of cinema is worshipped by the millions in the country. Getting him to advertise the firm's services of ICICI lends credibility to their product. Subconsciously investors feel that a product endorsed by the Big B will be safe, they will get back their money. Let us look at some brands endorsed by celebrities: PEPSI Shahrukh Khan, Sachin Tendulkar COCA-COLA Aishwarya Rai, Aamir Khan, Hrithik Roshan LUX Top Indian actresses TISSOT Mohammad Azharuddin DABUR OIL Karishma Kapoor THUMS UP Salman Khan LONGINES Aishwarya Rai. When celebrities such as Kapil Dev and Sachin Tendulkar endorse a product like boost (a malted drink targeted towards children) cricket-crazy children fans of both the players feel all I have to do is to drink boost and I can play cricket like Sachin and Kapil. Similarly women feel that if they used LUX they will look as pretty as Karishma, Madhuri etc. Then what goes into getting the celebrities to market the product by a company? Celebrities give the perception of quality products and services. Once quality branding is in place, brand extensions are possible i.e. customers might easily be persuaded to try their other products and services. Another factor that requires a thought is the media to be used to advertise the product/service. In today's era the company has the option to choose between online media – Internet, e- commerce etc. The strategy used in this case is "Target, deliver message, wait and interact" Offline media – print, radio, T.V billboards, demos, free samples. The strategy followed is "Target, Deliver message and wait". 33 Companies should keep in mind that the narrower the media focus & target market size, greater the influence of the advertising medium and vice versa. Depending upon the target market the company can decide its strategy. For mass marketing, content is important and for niche marketing, media itself is important. How is brand endorsement done? After deciding on the product, marketing strategy, medium of advertisement etc the company gives a thought to the choice of the celebrity is critical. The celebrity should have high recognition, high positive effect and high appropriateness to the product. E.g. Amrish Puri has high recognition but a negative effect on the masses, simply because people are used to seeing him play villainous roles. The celebrities like sportsmen; entertainers are more visible and worshipped than businessmen and politicians. Athletes are particularly an effective group for endorsing athletic products, beverages and apparel. The premier athletic endorser in this case is Michael Jordan former star of Chicago bulls. Jerry Reinodarf bought a 56% stake in Chicago bulls, which approximated to 9.2 million dollars. The year after Jordan arrived in 1998 his investments sky rocketed to 200 million dollars (a 1000% increase!!) Jordan is best known for his endorsements of sneakers, clothes, Nike footwear, apparel, videos etc. He also starred in the movie "Space Jam" (230 million dollars). Studies show he generated 53.2 million dollars for the Bulls during the period 91-92. It was because of him that ticket sales increased. Lady Diana is also a classic example of global celebrity. The fervor of Dianomonics still reins the minds and shall continue to do so. But using celebrities as brand icons have their own repercussions. Research indicated that Air Jordan's generated revenue sales of 130 million dollars in the first year. The sales dropped miserably in the second year when Jordan missed 62 games due to a broken foot. Another main worry of the advertisers is that their celebrity endorser would get caught in a scandal or an embarrassing situation. Let's see what aspects of brand endorsement the companies have to keep in mind: Incorrect brand linkage is the probable factor, which most reduces potential advertising effectiveness. Integration of the brand with execution and message. This is more important than how many times the brand is shown. It is vitally important that the creative idea be linked properly with the brand. 12.1 Forms of celebrity endorsement A celebrity can be endorsed in different forms based on the purpose, the advertisement media and the appeal to be generated. Following types of endorsement forms have been identified to be heavily in use at present: 34 As spokespersons, e.g., Amitabh Bachchan in KBC. In print and electronic advertisements, e.g., Shah Rukh Khan in Omega and Pepsi. In outdoor media like hoardings, e.g., Aishwarya Rai in Lux (Sunscreen) and Nakshatra jewellery in some parts of North India. As brand ambassadors, e.g., Fardeen Khan in Provogue, and finally The use of brands by celebrities in movies, e.g., Hero Cycles, Paas Paas and Coke in Yaadein. 12.2 Reasons for Celebrities Endorsements The following four categories of needs have been identified for a brand to use a luminary: When the concerned brand has close substitutes available. When there is a need to create a clear differentiation. When a brand has to make an entry into the market and the life cycle of the brand is feared short. In such cases the rationale is to make quick money and exit. All said and done let us now look at the reasons for endorsing celebrities. This can be better understood by visualizing a triangle. The brand (or corporate), the celebrity and the customer form the three vertices of a triangle. Each side of the triangle is the communication or the advertisement, which forms the necessary link between each of these three corners. Let us first see why a company goes about endorsing a celebrity. A celebrity helps short hand a brand; in other words makes a brand stand out. Celebs facilitate instant awareness and immediate attention. Celebrity values define and refresh the brand image and a celebrity adds dimension to it. A Celebrity adds new dimensions to the brand image. Next, let us look at why the celebrities themselves would like to endorse products. Primarily three reasons have been identified: The first reason that most celebrities would endorse a product for, is the huge compensation involved with it. 35 Second reason why celebrities wish to endorse is to get an enhanced level of acknowledgement. KBC and Movers and Shakers helped stabilize the fast declining careers of their hosts by providing strong audience recognition. Finally, endorsement breeds endorsement. Not only does the subject end up getting better offers but the avenues in related and unrelated fields also open up. Most of the cricketers for example have already been made to walk the ramp and a lot of models have already made way into the movies. Finally, let us look at the set of principles that makes the customers accept the celebrities. Messages delivered by well-known celebrities achieve a high degree of attention and recall for consumers. Celebrity Expertise perceived relevant: Expertise is the knowledge that the communicator seems to possess to support the claims made in the advertisements. A well-known face would obviously speak for more expertise than an ordinary one. For example a Reebok would always be better advertised by a Sachin Tendulkar. Celebrities are perceived Trustworthy: Trustworthiness refers to the customer's confidence in the source for providing information in an objective and honest manner. People are more likely to trust the quality of a trustworthy celeb endorsed brand over a non-endorsed one. Ambitious psyche: People ape the celebrities in their day to day activities and many even dream to become like a celebrity some day. Some know they wouldn't become as good as the celebrities but sharing common belongings makes them feel better. Physical Attraction: Consumers tend to perform positive stereotypes about such people. Physically attractive people are more successful in changing beliefs than non-attractive people. 12.3 A Brand Called SACHIN & SHAHRUKH We all have encountered this term at some point of time in our lives and have even been subject to the complexities of this term. The term am referring to, is a word called 'Brand'. A small yet all-enveloping powerful term, which is one of the cornerstones of the discipline of Marketing. Next few paragraphs will give you a very close insight into the imponderables of this term in a manner which the reader will find an enjoyable, entertaining, closer to reality and at the same time allow him to get a grip over the nitty-gritty's of the term in question. Let me bring into focus a game that through the sheer magnitude of following in the country has ceased to remain a game. Indeed, cricket in India is not just a game; it is a religion, an obsession that has spared few in the country and the entire Indian subcontinent. Behind all the 36 hype and razzmatazz associated with this game turned religion turned mania turned fanaticism lies a great marketing success story. The saga begins somewhere in the late 70s or early 80s when television entered the Indian life and since then has become an indispensable accouterment of the average Indian psyche. With television in our drawing rooms, the game which every Indian has played at some point of time at Ranji trophies, Clubs but more often than not in some obscure maidan or deserted street caught the fancy of millions across the nation. Kerry Packer had done his bit to initiate the commercialisation of the game worldwide but beyond any shadow of doubt what gave the game a critical mass of following was the advent of cricket mania in the Indian subcontinent. With increased viewership what followed were a plethora of endorsements, advertisements and a never ending queue of corporates ready to sponsor any tournament taking place in unheard of places like Toronto, Sharjah and even Nairobi. Cricketers like Gavaskar, Ravi Shastri, Kapil Dev suddenly became household names and role models having godlike status for youngsters, not just for their feats on the field but also for the millions they made through endorsements The game which school boys in distant towns of India wearing torn trousers carrying broken wooden pieces as makeshift bats had got as a legacy from their imperial masters had become a booming industry. It is in the backdrop of this mammoth of an industry that I wish to one man, or rather one brand – Sachin Tendulkar. As a student of management I learned that a brand encompasses the entire gestalt of physical and psychological characteristics of a product, this involves the entire psychological process the user or would be user of a brand undergoes when he considers himself with reference to the brand. In recent times Sachin has captured the imagination of marketers like no other contemporary Indian sportsman. For any brand to succeed it needs the right balance of aspiration and connection. Aspiration being what the individual would like to become like to be seen as or would like to feel when associated with a brand. Connection refers to how close a brand is to the individual's present state of affairs. A classic case of aspiration-connection imbalance is Nike in India. Some of the early ads of Nike in India featured Michael Jordan indulging in 'Just do it'. This brand scored highly on the aspiration count but missed out on the connection front. The average Indian perceived Nike to be a brand for the selfish go-getter who stops at nothing to gain his ends. This theme perception pitted it against the traditional Indian values of selflessness, generosity and magnanimity. It becomes very difficult for the average Indian to relate to this brand. In case of Sachin the brand the balance was perfect, not least because of his fairy tale advent on the Indian and subsequently International Cricket scenario. The 16-year-old schoolboy not yet out of school making his debut against arch rivals Pakistan in Pakistan and within no time taking the international cricket scene by storm. If any contemporary Indian sportsman inspired awe, he was the one. Of course the millions he made on and off the field also contributed to the apirational value of the brand. Result the brand had scored a near perfect ten on aspiration. The 37 connection of the brand is a bit more complex; it refers to a particular aspect of the individual being present in the brand that the target audience can relate to. Here is where the killer punch of Sachin as a brand lay; televisions beamed images of a short chubby youngster with a boyish smile successfully endorsing everything from toothpaste to cold drinks and in the process endearing him to one and all. Mothers found him resembling their sons, young girls found him 'cute' and he was definitely the media's darling. In fact a lot of credit for the brand building goes to the media. Unlike comparable sportsmen of a different era, all his feats were captured on camera and beamed across millions of living rooms across the subcontinent. All the fairy tales were for everyone to see, when he single-handedly demolished Australia at Sharjah on his 24th birthday and in the process won the trophy, the whole of India wished him a long life. When he scored a century against Kenya immediately after his father's death and then dedicated his century to his dear departed father, every Indian had a tear. He was every Indian's secret fantasy come true because he made white men run all over the park. Yet despite all his achievements the brand has never changed much over the years, always the well behaved, usually conservatively dressed and on most occasions clean-shaven, he represented the a feeling of reassurance that you could be cool without being unduly flashy. He was a freak because of the way he played the game but due the quality that made it possible for every Indian to relate to him, he was a wholesome freak. Fiat Palio roped him along with Formula One driver, Germany' Michael Schumacher to endorse for their Palio range. Today in the new millennium this 'wholesome freak' is the most powerful brand in the Indian sporting horizon. Because of his universal appeal across most demographic segment he is the corporates' coveted endorser. For the numerous reasons mentioned in previous paragraphs one has no reservations in pronouncing him as one of the most powerful brand ambassador in recent times. On the other hand is Shahrukh Khan, an undisputed king of Hindi Cinema. He is brand ambassador of Hyundai Santro. Nine out of ten will recall santro because Shahrukh endorse it. This is known as Brand Power. He had also endorsed for Pepsi alongwith Kareena Kapoor, Clinic's All Clear Dandruff shampoo. Recently he also endorsed for Airtel, competitor to BPL and Orange. In this era of tremendous competition, increasing consumer awareness and uncertainties about the future brand endorsement is just another way to stimulate demand with the hope of earning a few bucks. This certainly helps companies in the short run. Celebrities generate business agreed, but if a company depends only upon its strategy of brand endorsement without catering to product development, distribution channels, marketing strategies etc then even a Shahrukh or a Sachin cannot make the customers say "Yeh Dil mange more". Both 'S' are very strong brands. Sachin, badshah of cricket and Shahrukh, badshah of Bollwood are both celebrities in their own term. Both are brands within themselves. Recently tennis legend, Boris Becker was in India to endorse for S.Kumars and even Australian cricket hero Steve Waugh for undisclosed product. No one ever thinks that how much 38 these stars are paid but one thing is certain that they are here to stay…. not only in the minds of customers but in their hearts…. 12.4 Sachin Vs Shahrukh In the Sachin vs. Sharukh battle, the end results are just out. And the winner is...err well you guessed it right. There is no winner. But only losers. And that award goes to us CONSUMERS!!! Both these guys charge huge endorsement fees, which come back like a boomerang at us, once these products have become household names!!! We end up paying for all this. SILLY POINT to really argue about. 12.5 Brands & Bollywood Brands and Bollywood are closely associated with each other. We can say that both are interdependent. In fact brands can't do without Bollywood. Not only are the products endorsed by the celebrities but also the services. Bollywood Superstar Amitabh Bachhan endorsed for ICICI bank. Also Hrithik Roshan, Shahrukh Khan and Sachin Tendulkar for controversial Hometrade. No one knows what Hometrade is but one can easily recollect the stars associated with it. The overall presentation of the advertisement of hometrade showing Hrithik mania became very famous. CEO of hometrade is arrested for duping several investors and advertisement vanished suddenly but even today people can easily name the stars who endorsed for it. These stars have been paid several lakhs of rupees, even crores but no one ever thinks of it. Hometrade may have been disappeared from the minds of people but certainly not these stars. These celebrities are brands in their own terms. They are walking talking brands. 39 13. Do Brands have power? Now we will look at the value of branding with the use of user imagery .The brand managers have to understand the changes being brought through the advertising in our contemporary society in building distinctive brand image. Now look at two successful campaigns of Indian brands - 'The Unshakable' and 'Kuchh Kar dikhana hai' campaign reflecting the present generation youth and associating them with the brands for marketing success) This is a question which is haunting brand managers for a long time. The answer to this is not as simple as it seems. Brand valuation as an approach has succeeded in calculating the financial aspect of a brand. Yet it is not all of branding! Similarly the communication experts have gone beyond miles in explaining the power of a brand as a tool for identification and recall. Yet the ability of researchers to look at brands defying the conventional wisdom to explain the reason of naming a product is still questioned. The brand has an ability to associate the product with the psycho-graphic of the customers and customers tend to feel the brand as their own or simply a reflection of their being in all forms and levels. The underlying concept of branding has not changed that is it still asserts ownership! The brand other than providing differential advantage has started reflecting the mindset of a nation. In fact all forms of communication are the bearer of the happenings and Alma matter of a generation in a country. Brand power is no more looked upon as a financial power that a company has in the market. It is no more a reflection of the strength of a brand on parameters like consumer loyalty; repeat buying rate, faster adoption rate and higher shareholder value for a firm. Advertising is creating a different kind of brand relationship with customers. Though this has been already there in the west but for us it starts as a new approach towards looking at brands and advertisement altogether. The ability of a brand to create an emotional bondage, to explain the mind set of a generation and to reflect the very essence of the life style is well reflected in the Indian Market place. Can these brands be able to achieve the commercial objectives of their creation? The American corporate history stands testimony to this level of brand association with life style through the success of brands like Harley Davidson Motorcycles. Till date Harley Davidson has maintained a consistent brand personality based largely on the macho, American and western folk hero associations, it has been successful at broadening its user imagery by drawing on the freedom value. While there was a Japanese onslaught in the American auto market, Harley Davidson withstood the taste of time with this kind of distinct brand association. When most of the Japanese brands were doing feature-based promotion Harley expressed the real macho image of American Youth and stayed in the market as a successful story. Are we experiencing a similar kind of situation in Indian Market? The answer is yes but the reflection has been bit different. Let's look at Bajaj Kawasaki Caliber bikes the unshakable campaign. What do they reflect? Are they expressing Indian youth's power of perseverance; their 40 ability to accept failure as it comes in life and reflects the unshakable call of the country where the youth has to sacrifice the personal happiness for the country. In the first campaign he accepts his failure and the marriage of his girl friend and comes out happily from the girls house (Are Indian Youths Ready for this kind of personal setbacks?) In the second case it is the longish return of the military man to spread happiness on the face of the family members; yet he gets a call and has to report back for the war. In his return also he glorifies the happiness and commitment he keeps for the family and country. Bajaj associates its brand in each of this glorification of Indian Youth. This kind of emotional bonding does not talk about the product features, the fuel efficiency, and the price tag or for that matter any kind of so called marketing communication that helps in marketing brands like the major leader in the market who talks about fuel efficiency, value for money proposition! Why can't they think of such kind of Indian origination of associating brand ownership with life style of Indian youth through their campaign? Of course this kind of personification is not new to Indian market. Do you remember Lolitaji in the Surf Ad campaign that brought a drastic change to the Indian Middle class housewife's mindset in the 70s and 80s? She came out of the house and entered to the market place and talked about making an independent choice of her own! This was a real surprise to the Indian middle class segment during that time. But those studying the social influence of advertising at macro level will agree that it was a probably a forecast of the future for the Indian middle-class woman. Subsequent period has seen the emergence of a strong working out going middle-class women of India now making their own independent choices in many things including edible oil for the ailing and stressed husband to the very personal sanitary napkin of various sizes for herself and for the growing daughter. If Lolitaji is any indicator of forecasting of an emerging behavioral pattern then the current campaign is reflection of a growing and psychologically stable Indian Youth. Indian Youth has always been projected as not too serious and not so much adventure seeking. The ultimate goal of an average youth has long been a decent job and no to many so- called vices like boozing. But the story is changing. May I remind you the campaign of 'Kuchh Khona hai Kuchh paana hai, pal pal ke jatan se kuchh kar dikhana hai'? This is a campaign reflecting the changing mindset of Indian Youth where they are moving out to unconventional area, be it music or opening a garage. Every body understands the risk of venturing in to this kind of occupations but Indian Youth is ready for this. There is a realization in this campaign different than that of the unshakable campaign. Where as in unshakable it was a reflection of accepting the failure the apna label... Campaign is an expression of struggle and success where you stay back with the brand and people with whom you have grown. 41 If sociologist studying on advertising impacts has anything to do with this, they can realize that the brain that goes in creating the campaigns understands the value of brand association with the life style. He also foresees the advantages of it in building a brand image, which is difficult to build by feature and value propositions. Brand personality can easily be created by the application of user imagery. It is based on either typical users (people you see using the brand) or idealized users (as portrayed in advertising and elsewhere). User imagery is a powerful driver of a brand personality in a country like India. In these cases the user is already a person reflecting the aspirations, failures and successes of people for whom the brand is targeted. The easy going youth in The Unshakable campaign or the struggler in the kuch kar dikhana hai campaign are reflections of the change of the mind set and life style of Indian Youth. They are key indicators for a more matured, risk taking generation of young customers of emerging India. 14. Brand Loyalty Brand Loyalty is one of the important aspects of Brand Equity. It is a crucial goal and result of successful marketing programs, sales initiatives and product development efforts. There are many benefits and importance of brand loyalty. At the core of every successful brand is a nucleus of loyal customers. These "true believers" understand the brand better, purchase more often and recommend the brand to others. Loyalty is a core dimension of brand equity and is a way to gauge the strength of a brand. It represents a barrier to entry, a basis for a price premium, and time to respond to competitive innovations 14.1 Concept of Brand loyalty Brand marketing is not concerned with making one-off sales. A long-term preference is the aim of all branding. Few consumers will be 100 percent loyal to one brand. But a strong brand is always included in the consumer's repertoire of acceptable brands, and will enjoy a high percentage of consumer's purchases within the relevant category. The brand loyalty of the customer base is often the core of a brand's equity. If customers are indifferent to brand, and buy with respect to features, price and convenience, with little concern to brand name, there is little equity. If, on the other hand, they continue to purchase the brand even in the face of competitors with superior features, price, and convenience, substantial value exists in the brand and perhaps in its symbol and slogans. Brand loyalty, long central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features. As brand loyalty increases, the vulnerability of the customer base to competitive action is reduced. It is one indicator of brand equity, which is demonstrably linked to future profits, since brand loyalty directly translates into future sales 42 14.2 Why Seek Brand Loyalty Loyal customers can be and should be the foundation for marketing strategy. Beyond the profit they generate, loyal customers provide the basis for brand development and improvement. The brand that loses sight of its loyal customers has lost its direction, and is vulnerable to losing market share. As a brand's percentage of loyal customers goes up, market share increases and the brand becomes more profitable. Share rises because those customers who become repeat purchasers are no longer lost to the competition. In addition, repeat customers are more profitable than new customers - attracting new customers involves investing far more marketing and promotional funds. Raising your percentage of loyal customers improves growth and market share. Loyal customers buy your product over and over, while non-loyal customer simply defects to your competitors. Defection lowers your market share and loyalty raises your market share. 14.3 Who Does This and how? To some extent, brand loyalty is being developed and managed by all successful brands. But in many cases loyalty itself is considered simply the result of well-executed marketing programs. Customer loyalty is the number one priority of Brand Managers. The best way to achieve greater brand loyalty is by managing the brand loyalty process. This involves: Treat the customer right Keep in touch Measure/manage customer satisfaction Create barriers to shift Reward loyalty directly Freebies and discounts 14.4 Value of Loyalty Reduces marketing cost: It is cheaper to service an existing customer than attract a new one. Provides trade leverage: Provides for preferred shelf space Attracts new customers: Loyal customers while gaining reassurance from the product also provide assurance to new customers. Allows time to respond to competitive threats: 'Colgate Gel' 43 15. Research and Analysis Analysis of the Questionnaire The questionnaire was divided into two sections for better understanding and analysis. The first section was about the personal information about the respondents. The second section included the general information regarding different brand of jeans available and the buying behaviors of the respondent. Seventy-five students were surveyed from different colleges among different age groups. Main Objectives Western culture is looming very fast. Today's Generation X is not clad to formal shirts and pants. Gone were the days when one used to go to colleges in their traditional 'dhotis' and 'kurta's'. This has been replaced by 'JEANS'. In order to gain some insight into the problem, some firsthand research was needed and that is why the first stone to build the presented research was laid here. Main objective of conducting the survey was: 1. To study the changes in the brand loyalty in response to change in price and also to find out price elasticity. 2. One more thing that goes along with the change in price is brand loyalty. Many a times change in price comes out to be swift in brand loyalty. So the objective was to measure change in brand loyalty too. 3. To study the change in brand loyalty in response to change in income. As my survey was among college students, income, which depicts either their pocket money or a part/full time job and both. This is the crucial factor in determining buying behaviour. Change in income changes the buying behaviour of a consumer and so do the brand loyalty. Hence my objective was to study this change. 4. To study the effect of freebies scheme on brand loyalty. 5. To study the aggregate effect of all the factors discussed in questionnaire on brand loyalty. 6. To study the importance buyers attach to various attributes like price, advertisement, varieties, etc.) while buying. 44 7. To study the effectiveness of a good advertisement of a new brand in terms of its ability to attract consumers loyal to other brands. Supplementary Objectives 1. To study the effect of non-availability of regular brand on the brand loyalty of buyers. 2. To study the impacts of new brand (price of which may be less than, equal to or more than the price of their regular brand) on the brand loyalty of buyer. 3. To study the reasons for starting wearing jeans. 4. To know the role of reference groups in selection of a particular brand of jeans. Assumptions 1. Brand loyalty is not affected by change in price. 2. There is no significant difference in brand loyalty among the various income groups due to change in price (price increases by 25%). 3. Brand loyalty is not affected by change in income. 4. Brand loyalty is not affected by scheme of free gift introduced by other brand. 5. There is no significant difference in brand loyalty between regular buyers and occasional buyers. 6. People give more importance to price as compared to other attributes. 7. Good advertisement of the new brand help in switching the brand loyalty One cannot make such assumptions without any strong basis. To justify brand loyalty among college students wearing jeans, I have undertaken a small survey. The survey also throws light on the college students, which influence them in making decision regarding the purchase of jeans and reasons for buying. To facilitate my purpose, I have formed a questionnaire and got it filled by 75 respondents. 45 Analysis of Questions Source of Income Tabular representation of the diagram Pocket Money Part/Full time job Both 63 8 4 Data Interpretation Above 84% of the students surveyed depends on pocket money, 11% do part/full time jobs while 5 % students depends on both. Analysis of data It can be analysed from above that most of the students surveyed are dependent on their parents i.e. pocket money, which is their major source of income. 46 How often do they wear jeans Tabular representation of the diagram Regularly (Daily) Occasionally 57 18 Data Interpretation Above 76% of the students surveyed wear jeans regularly while 24% wears occasionally. Analysis of data Jeans is highly popular among college students. Most of the students wear jeans regularly (daily). While some prefer to wear on some occasions. 47 Do they wear the same brand every time Tabular representation of the diagram Yes No 59 16 Data Interpretation Above 79% of the student's surveyed wears same brand of jeans every time while 21% wears of different brands occasionally. Analysis of data It has been seen that in the present scenario each and every people prefer branded products irrespective of their background. In today's scenario people are more attracted towards branded products irrespective of the brand price. It has been found that people see branded goods as a status symbol and go for it. Thus people have changed their perspective towards the product and every one prefers branded products compared to others. Since most respondents wear same brand every time itself reflects their loyalty towards that particular brand 48 Brand people prefer the most Tabular representation of the diagram Yes No 59 16 Data Interpretation Above 79% of the student's wears jeans as it it's a symbol of prestige. 21% wears out of curiosity and durability, 17% wears by seeing the respective advertisement while 12 % wears just for gradual transformation. 49 Why do student wear jeans Tabular representation of the diagram Status & Durability Advertisement Out of Just for gradual Prestige Curiosity transformation 21 16 16 13 9 Data Interpretation Above 29% of the student's wears jeans as it it's a symbol of prestige. 21% wears out of curiosity and durability, 17% wears by seeing the respective advertisement while 12 % wears just for gradual transformation. Analysis of data From the above table, we can conclude that status and prestige symbol is the main reason behind starting wearing jeans. Advertisement has very little impact on the respondents to start wearing 50 jeans, so advertisement is not the boost factor at the initial stage. It has been found that majority of the student's wears jeans because it symbolizes prestige and status. Some goes for its durability and advertisement while some wear out of curiosity and for gradual transformation i.e. just for a change. Prestige is the important factor followed by its durability and advertisement for buying and wearing the jeans. Thus jeans reflect the symbol of owners' pride. People like most about their regular brand Tabular representation of the diagram Varieties Colour Advertisement Price 27 27 15 6 Data Interpretation It can be seen that 36% of the student's like different varieties available & colour in their regular brand. 20% like advertisement while 8% voted for price. Analysis of data 51 After the survey it has been found that most students like varieties and colour available in their regular brand. Advertisement is also another aspect, which is looked upon while price plays a very negligible role. Today people are willing to pay heavy price if they are getting quality products alongwith varieties. They are quality conscious and don't want to compromise on quality. The above chart shows that the most important factor in buying the jeans is varieties and its weightage is around 36% and colours and advertisement are secondary factors. Thus, we can conclude that variety is more important than all the other attributes. Price has very little impact on the respondent How come they know about their regular brand Tabular representation of the diagram Friend Circle Shop Owner Advertisement 43 22 10 52 Data Interpretation It can be seen that 58% of the student's came to know from their friends about their regular brand. While 29% came to know about it from shop owners and 13% are aware because of the advertisements Analysis of data The above table shows that 58% of respondents came to know their regular brand from their friends. Only 13% of the respondents have selected the brand after looking its advertisements. In short, reference group (friends and shop owners) has strong effect on the selection of the brand. One can say that buying behaviour of today's youth is driven by their peers and reference groups. Advertisement plays a secondary role in knowing about a particular brand. Are they aware of any other brands 53 Tabular representation of the diagram Yes No 71 4 Data Interpretation From the above table it can be seen that 95% of students are aware of the brands other that their regular brand while 5% of students are not aware of any other brand. Analysis of data Around 98% respondents answered positively. This means that they are aware of the advertisements of other brands but still prefer their regular brand. This shows that they have knowledge about various brands but their buying decision is not affected by the advertisement of other brands. Most of the respondents were able to recollect the advertisements of other brands. It can be analysed that majority of the students are aware of the advertisement of brands other than their regular brand. Even though they prefer to wear specific brand, they are aware of the different brands available in the market. 54 Most influencing factor in their regular brands Tabular representation of the diagram Varieties Celebrities/Models Advertisement Punchline/Logo 29 21 19 6 Data Interpretation It can be seen that 39% of the student's are influenced by the varieties available in their regular brand. The celebrities and models that endorse for that particular brand while 25% and 8% contributes to advertisement and punchline/logo respectively influence 28%. Analysis of data From the above figure it is clear that most of the students are influenced by the varieties available in their regular brand. Also the celebrities and models endorsing that brand mainly influence youngsters. Today's teenagers associate the brands with the celebrities endorsing it. They can easily recall the name of brands because of their favourite star endorsing it. Very few of the respondents influenced by the punchline and logo of the brand. Mainly, the respondents who opted for logo or punchline tried to match their personality with the model or slogan. So it is a psychological effect of advertisement on the respondents. 55 If they come across an advertisement of new brand, which has influencing factor, would they Tabular representation of the diagram Ask/Inquire for it Ignore it Try it 52 13 10 Data Interpretation From the above table it is clear that 70% of the student's will ask or inquire about the new brand, 17% will ignore it while rest 13% will try it. Analysis of data It can be analysed that most students will inquire about the new brand having features of their regular brands but it won't ultimately decide their buying behaviour. There are some students who will totally ignore other brand thus reflecting their brand loyalty while some students would still love to try it. This shows that today youths are more trendy and adventurous and like to try new things. They think twice before buying any specific brands. Even though new brand may have all the factors which they wanted in the advertisement, they will not switch to the new brand only for the reason that its advertisement is good. So the good advertisement of the new brand does not significantly attract the respondents to switch their brand. 56 If the price of their regular brand is increased with the price of other brands remaining the same, what would be their reaction Tabular representation of the diagram Use same brand Shift to some other brand 62 13 Data Interpretation It can be seen that 83% of the student's will use the same brand even if the price of their regular brand is increased with respect to some other brand while 17% will shift to some other brand. Analysis of data From the above statistics it can be analysed that majority of the students are loyal to their brand. Even though the price of their regular brand is increased they won't switch to some other brand. While in some cases there is probability of shifting to some other brand. Loyalty increases with the increase in the age group. Since most of students surveyed were wearing jeans since school days, they were aware of the particular brand and also loyal to the brand which they were wearing. 57 How much do you spend on your regular brand yearly Tabular representation of the diagram Less than 1000 1000-3000 3000-5000 5000 or more 27 24 13 11 Data Interpretation It can be seen that 36% of the student's spends less than Rs.1000 yearly on their regular brand, 32% spend in between 1000-3000, 17% spend in between Rs.3000-Rs.5000 and 15% spends more than Rs.5000. Analysis of data From the above statistics it can be analysed that students spends on their regular brand on the basis of their source of income. The more income means more spending on the regular brand yearly. Since income of the most respondents is pocket-money, it's not possible for them to spend lavishing even though on their favourite brand. 58 If your source of income increases what would be your reaction Tabular representation of the diagram Buy more jeans of No change Shift to some other same brand higher quality brand 37 29 9 Data Interpretation It can be seen that 49% of the student's will buy more jeans of same brand if the source of their income is increased, while 39% said that there will be no change in their buying behaviour and 12% will shift to some other higher quality brand. Analysis of data If the source of income is increased by any means than they will tend to buy more jeans of same brand. While there are respondents who said that there will be no change in their current buying pattern. They will buy as per their needs. It's something like if the price of salt is decreased than people wont intake salt in more quantity. 59 If they find a new brand at a shop what will they do Tabular representation of the diagram Ask/Inquire about it Ignore it Try it 37 29 9 Data Interpretation It can be seen that 49% of the student's will inquire about the new brand, 39% will ignore it while 12% will love to try it. 60 If they don't find their regular brand at a particular Shop, what would they do Tabular representation of the diagram Postpone buying at that time Buy another brand 61 14 Data Interpretation 81% of the student's will postpone buying if they don't find their regular brand while 19% will buy another brand. Analysis of data This shows that non-availability of a favorite brand has much effect on the youngster to switch their brand. Overall picture shows that around 19% of respondents go for another brand of jeans, means switching their brand. There are also respondents who either buy other brand or postpone buying at that time because they do not want to switch the brand. Availability of favorite brand is most important for the respondents. If it is not available then around 19% will go to another brand and around 81% who are brand loyal but may be dissatisfied with the non-availability of their favorite brand. So it's very difficult to say how many respondents are strong brand loyal with respect to availability of jeans at a shop. 61 If the brand other than their regular brand introduces some discount scheme, what will be their reaction Tabular representation of the diagram No change in current buying pattern Shift to that brand 61 14 Data Interpretation It can be seen that there will be no change in the current buying pattern of 89% of the student's while 11% of students will shift to that particular brand. Analysis of data Here, respondents who opted for no change in the current buying pattern will be considered as the brand loyal. From the table itself, we can directly conclude that scheme is ineffective for switching the brand loyalty of irrespective of their age group and income group. 62 16. Conclusion In today's volatile and competitive environment, which is very, dynamic and changing very fast, it is quite difficult to suggest the concrete frame work with regarding to consumer buying behaviour which is also an ever changing phenomenon. Research can only help to certain extent. This study was aimed to test loyalty among college students wearing jeans by judging their buying pattern. Out comes were as follows- Brand loyalty has no direct relationship with the age group Number of brand loyal rises with the increase in the age group. Brand loyalty is low in age group 15-18 because they are new to any particular brand, so they tend to try various brands keeping price in mind. While in age group 18-24, it is high as compared to 15-20 age groups, because they are habituated to a particular brand to some extent. People give more importance to varieties and brand name as compared to other attributes I wanted to know the most preferred attribute in jeans among the respondents. I found out that for all the income groups as well as age groups variety is the most important attribute. Its durability and price is emerged as the second important factor. But however students whose income is below 1000 Rs. are more price conscious than other age groups and income groups. The advertisement of new brand does not help in switching the brand loyalty Attractive advertisement of the new brand does not influence respondents to switch their brand. Eventhough the most attractive model(s) or overall good presentation of advertisement is provided by new brand, they will stick to the regular brand. So it fails to attract the significant respondents of other brand. 63 Overall we can conclude that: Advertisement does not have much impact on the respondents who do not wear jeans to start wearing it. Friend circle is the main reason behind starting wearing the jeans. Reference group (friends and shop owners) has strong effect on the selection of particular brand. A respondent will not shift from one brand to another on finding the advertisement of the other brand more attractive. Availability of favourite brand is of utmost importance for a respondent. If it is not available, then around 19% of the respondent will switch to other brand and 81% will postpone their buying or may be dissatisfied with the company. So the delivery of the cigarettes on time to various outlets (shops) is very important. Variety is more important for the entire age group and income group. Youngsters and low-income group respondents are more price conscious than other age group and income group people. A respondent will not shift from one brand to another on finding the advertisement of the new brand attractive. Brand loyalty is affected by change in price. Brand loyalty is affected by change in income. Brand loyalty is not affected by scheme of freebies and discounts introduced by the other brand. There is no significant difference in brand loyalty between regular and occasional buyers. Youngsters are more influenced by the advertisement than other age groups. Thus, strong brands are important to both marketers and customers as they: Provide relatively higher return on sales. Have longer life. Creates entry barriers for others into the category. Have better leverage with the trade. Can bounce back after a mistake. 64 17. Foreward "No study is fully complete in itself" – said the elders. Even then, not taking opportunistic shelter in this proverbial saying, I am fully aware of the many lacunas in this piece of survey, presented in the foregoing pages. Firstly, the sample size should have been much larger in each category of students sampled. Secondly, some more intriguing questions must have been addressed to the individuals. Had these two deficiencies been not there, the outcome of this survey should have been more interesting and fruitful than what it is in the present form. Alas! The master factor for these two deficiencies was paucity of time. As this is only a pilot survey of small sample size, the same can be expanded to a more efficient and highly useful study. As the 'proof of the pudding is in eating', we sincerely hope and wish that this pudding will prove tasteful and informative to me in the near future. 65 18. Bibliography: The books referred to develop the theoretical part for the report were as follows: Marketing Management - By Philip Kotler Brand Management - By Y.L.R Moorthy Market Research - By Naresh Malhotra Other literature referred were magazines and marketing journals. Webliography: www.indiainfoline.com www.wikipedia .com 66
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From the PublisherEmmet Fox on Florence Scovel Shinn One secret of her success was that she was always herself...colloquial, informal, friendly, and humorous. She herself was very spiritual...and taught by familiar, practical, and everyday examples.
Dr. Norman Vincent Peale The Game of Life is filled with wisdom and creative insights. That its teachings will work I know to be fact, for I've long used them myself.

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text: Somewhere over the high-definition rainbow, the remastered WIZARD OF OZ marks the 70th anniversary of the film's original release. Along with introductory stories by Turner Classic Movies' Robert Osborne, the nationwide screening also includes "To Oz! The Making of a Classic," featuring interviews with the Munchkin actors, home footage and audio from the set, and rare musical outtakes. $10. 7 p.m. In area theaters. www.fathomevents.com.