Impact of branding strategy on customer buying behavior
Impact of branding strategy on customer buying behavior
6 Pages 1605 Words2533 Downloads
1.1 Background of the study
In the globalized economy, most of the companies’ desires to expand their operations worldwide, however, differences in people needs and wants makes it essential for the establishments to analyze their market requirement first and determine the factors which may drive success to the organization. In the 21st century, a significant shift and changes can be seen in the marketing strategies of the firm as now-a-days, commercial organization pay extensive focus towards their advertisement, marketing and promotional policies to become highly competitive and sustainable (Treen and et.al., 2016).
With the dynamic and suddenly changing external environment, it became inevitable and important decisions of the organization to retain competiveness and get rid of turbulent marketing conditions. Now-a-days, the success of the company greatly depends upon how effectively it gathers and analyzes enough set of information about their market in which it transacts and operates. Marketers need to research and investigate about user requirements, desires, buying preferences and purchasing habits as well. In order to ensure sustainability and better survival, business units are greatly interested in creating and building strong branding position, so that, long-lasting relationships can be maintained with the final users. In this respect, firms inject enough time and resources to study the sociological and behavioral aspects so as to get deeper insight towards buying pattern of the consumers (Patha and Lim, 2016).
With the changing period, branding has emerged as vital and key elements of corporation’s marketing strategies and represents corporate reputations and image in the mind of customers. In order to build a good reputation and image, companies often employ various branding theories, concepts and strategies, so that, a unique preposition can be developed in customers to build loyalty and competitive strengthening (Hayran and Gürhan-Canli, 2016). With the shift and movement in marketing paradigm, business units give high focus towards marketing research so as to underpinning the key variables that affect buyer’s decisions such as attitude, preferences, perception, cognition, learning, spending pattern, likes and dislikes & so on. In the competitive market, it becomes important for the marketers to determine that what consumer expects and what are the unsatisfied need and wants, how they make purchase decisions and prefer a particular brand over others and so on (Gürhan-Canli, Hayran and Sarial-Abi, 2016). With this, they will be able to set appropriate plans and policies like production, goods quality, pricing policies, logistic supply, designing, packaging and labeling to drive success. Supply of desired quality goods exactly in which it user expects leads to strongly satisfy their requirement, boost sales, maximize repetitive buying and make them loyal towards specific brand (Olbrich, Jansen and Hundt, 2017).
Apple Inc. is an American public limited company traded on NASDAQ and founded by Steve Jobs in the year 1976. Headquarter of the business is established in California, US and operates in consumer electronics industry. It is the leading supplier and distributor of latest technological products and devices around the globe. It has an superb goods portfolio comprising variety of items such as iPod, iPhone, Operating System, TV, iPad, Watch and many others. It transacts and deliver its services in number of countries such as UK, US, Canada, Spain, Germany, Hong Kong, Sweden, Brazil, Switzerland, China & others. Its Operational management (OM) policies such as quality management, better design, process & capacity development, layout designing, supply chain management (SCM) and others are the main reasons behind the success of the business.
The target of the present thesis is to determine various branding strategies and concepts that are being available to Apple Inc to influence audiences positively. The report will also critically examine that how branding ways will enable managers to strengthen competitive position & promote success to the firm. Along with this, the dissertation will also analyze the usefulness of branding theories and concepts in the context of Apple Inc to affect buying preferences and purchasing decisions of the people positively to satisfy them, build loyalty and create superb corporate image.
1.2 Rationale of the study
In the current complex and competitive corporate world, though many companies have excellent and superior quality product portfolio and able to deliver better products and/or services to the customers, but still, they fails and unable to survive and gain competitive edge just due to poor branding operations. However, in the current era, only that company can run operational activities successfully and ensure stability that have excellent competitive strength, in such regards, strong & well-established brands have full potential and capacity to generate loyal customers and retain them for a longer duration (Khan and et.al., 2016).
It will eventually leads to maximize business sales, net return, market share and drive competitive benefits also. Further, in the turbulent era, corporations face significant number of challenges to manage their brand, henceforth; the report will bring attention of the readers towards critical evaluation of the branding policies along with its impact towards buyer’s decisions. With this, marketers will be able to make smarter choices and selection to combat threatening and challenges and assure success (Haffar and et.al., 2016).
1.3 Research aims and objectives
Aim the present study is to analyze the influence of branding strategy on the buying behavior and decision making aspect of customers. In accordance with such aim following objectives have been drafted are as follows:
To identify the various types of branding strategies.
To assess the significance of branding strategy in the context of Apple.
To evaluate the impact of branding strategies on buying behavior and decision making aspect of customers.
To recommend effective strategies to Apple for making improvement in business position and performance.
1.4 Research questions
Q.1 Which kinds of branding strategies can be used by Apple to strengthen its position in the market? Q.2 How branding strategies might be prove as a useful and successful way to achieve success in the competitive market place? Q.3 How various types of branding strategies influence people behavior and their purchasing decisions? Q.4 What are the best theories and approaches available to Apple to develop an excellent branding policies for the performance enhancement?
Research topic and its outcome are highly significant for the firms which lay more emphasis on employing branding strategies. In the present era, each and every company employ branding strategy with the aim to develop awareness among the customers about the products or services offered by it (Haffar and et.al., 2016). Hence, in this, such thesis will help Apple and other companies in understanding the extent to which branding strategies and framework has high level of impact on the buying behavior of customers. In this way, such study will help companies in developing highly competent and strategic framework.
Further, other scholars can also use such study to develop understanding about branding strategies and its impact on purchasing decision of customers. Thus, by gaining deeper insight about such aspects scholar can develop suitable hypothesis for future study. Further, by evaluating the outcomes of such study scholar can identify suitable research topic for future study. In addition to this, new entrants can also undertake such study for getting information about the market trend and consumer behavior. In this way, by taking into consideration all such aspects new player can enter in the market with highly competent framework. This in turn helps entrepreneur in attaining success in new market to the significant level. do my assignment
1.6 Structure of dissertation
Chapter 1: Introduction
Introductory chapter of dissertation presents the aim and objectives in accordance with the research issue or problem. Besides this, researcher also mentions significance, rationale and background of the study by considering the research issue and aim.
Chapter 2: Literature review
In the second chapter, scholar will evaluate several academic sources with the aim to gain deeper insight about the extent to which branding strategies influence buying behavior of customers. In this way, brief thesis will be prepared by scholar by considering books, journals and articles which are related to it.
Chapter 3: Research methodology
This chapter of chapter of dissertation clearly presents the tools and techniques which have been employed by scholar during the whole study. Further, in this, research makes selection of suitable research approach, philosophy, data collection and analysis by taking into consideration the issue which is going to be investigated.
Chapter 4: Data analysis and findings
Such chapter of thesis is highly significant which clearly presents the findings of study in a highly structured manner. In this, researcher makes analysis of gathered data set by taking into account the technique which is identified in the methodology section. Along with this, researcher also presents graphs on the basis of findings which in turn facilitate better understanding about outcome of research issue.
Chapter 5: Conclusion and recommendations
In the fifth chapter of dissertation, researcher concludes all the findings according to the aims and objectives. Further, researcher will also recommend suitable ways to Apple which in turn helps it in enhancing and strengthening brand image.
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