Brand Analysis
This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA
Overview
Download & View Brand Analysis as PDF for free.
More details
- Words: 1,078
- Pages: 35
Minor Project: Critical Analysis of Consumer Brand Preference for apparels & accessories Project Guide: Mr. Amit Aggarwal
Research & Compiled by: Akansha Choudhary M/FMS/08/03 Bhavik Gandhi M/FMS/08/10 Sunil Kerketta M/FMS/08/31 FMS Department National Institute of Fashion Technology - Mumbai
Introduction
“Consumers are evolving entities. Their aspirations & expectations are continuously changing. Today’s shoppers are more intelligent, discerning & tuned to their individual preference. They are increasingly fashion and brand conscious and select labels which define who they are or who they want to be. The biggest challenge for all the brands is to create loyal consumer who love them.” – Shopper’s Stop Ltd’s
About Brand & Branding Brand according to (American Marketing Association) is ‘ A name, term, sign, symbol, or design, or combination of them, intended to identify the goods and services of one seller or group sellers and to differentiate them from those of competitors’ Branding thus is a means to distinguish one product from another and these differences may be functional, rational, or tangible – related to product performance of the brand. Brand equity is added value endowed to products and services. Brand knowledge consists of all the thoughts, feelings, images, experiences, beliefs, and so on that become associated with the brand. In particular, brands must create, strong, favorable, and unique brand associations with customers.
Brand Equity Model Brand Resonance The brand resonance model also views brand building as an ascending, sequential series from bottom to top.
Brand Equity Model
“Building a strong brand requires careful planning and a great deal of long term investment. At the heart of great brand is a great product or service backed by creatively designed and executed marketing” – Kotler & Keller
“Fashion begins and ends with the customers” – Stephen Frings
Marketing Communication applied to fashion Products
Brand Image in Market Communication process
Store Image in Market Communication Process
Consumer Confidence – AC Nielsen Report 2008
Consumer confidence worldwide has fallen to lowest level
Consumer Confidence – AC Nielsen Report 2008
World’s avid savers are from Asia & one in every three consumer (32%) chooses to buy new clothes from saved money.
Consumer Confidence – AC Nielsen Report 2008
79% of consumers in India are confident about positive change in the economic situation.
Consumer Market : KPMG report 2005
Increase in middle class (consumer group) played key role for the growth of consumer market in India
The Global Retail Apparel Index 2008 – ATKearney Report Rank
Country
Absolute market size
Growth prospects
Consumer affluence
Score
1
Brazil
45
33
42
48
2
China
74
22
36
47
3
India
57
37
31
47
4
Turkey
29
37
59
46
5
Chile
22
47
44
46
6
Romania
21
54
34
45
7
Argentina
21
44
39
41
8
Thailand
22
25
57
40
9
Russia
52
22
39
39
10
UAE
31
42
28
38
Apparel is India’s second largest retail category (behind food & grocery), representing 7 - 10% of retail market. Projected to reach $ 37 billion for 2008, apparel will be among the highest growth categories, with a CAGR of between 12 to 15%.
Consumer Buying Pattern – E&Y Report 2006
Clothing (7%) is the second largest segment in terms of retail sales.
McKinsey Report ‘07 – Consumer Brand Preference
In India, the youths have rated 4.3 out of 6 for the trustworthiness of National Brands & regarding the quality of foreign and local brand they are indifferent as per survey.
McKinsey Report ‘07 – Consumer Brand Preference
The survey indicates average spending on clothing of 6 months for India is Rs. 3045 in 2007. Indians do shopping during special occasions like marriage, festivals etc and with family and friends.
McKinsey Report ‘07 – Consumer Brand Preference
Comparing Indian consumer preference with that of Brazil, Russia & China. Indians prefer to buy branded clothes for special occasions, then all purpose use (Undergarments, Socks) and home wear.
Primary Data Analysis • Number of Samples – 116 • Male – 65 Female – 51 • Employed – 82 Unemployed – 34 • Places where survey conducted – Mumbai & Navi Mumbai
Primary Data Analysis Distribution of population as per occupation, gender and age using SPSS
Primary Data Analysis How often people go for shopping……..
Primary Data Analysis
Primary Data Analysis Average Spending during shopping………..
Primary Data Analysis Relation between Average Spending and Frequency of Shopping using SPSS
Primary Data Analysis
Primary Data Analysis SPSS Population Pyramid Graph
Primary Data Analysis
Celebrity endorsement includes – promotion of brands by actors, models, sport star, designer etc, promotion in movies, songs using celebrity.
Primary Data Analysis Relative Preference of consumer while selecting garment and accessories
Primary Data Analysis
Primary Data Analysis
Primary Data Analysis
Primary Data Analysis
Conclusion • In India the branding in the garments and accessories is in the growth phase. •Consumers have started identifying and preferring branded products over unbranded products & local and international brands due to growth in retail sector. • Another observation is that Indian consumer is quality and price conscious rather than brand conscious which means there are very few brand loyal customers. •Thus proper category management and catchment can improve branding and brand loyalty in India.
Reference • Consumer Confidence concerns, Spending and attitude to recession, a global Nielsen report – June 2008. (www.nielsen.com) • Conumer Markets in India –the next big thing? – KPMG report – September 2005. (www.kpmg.com) • Emerging opportunities for Global Retailers – The 2008 AT Kearney Global Retail Development Index (www.atkearney.com) • The Great Indian Retail Story – Ernst & Young Report – 2006 ( www.ey.com/india) • The Mckinsey Quaterly – How half the world shops: Apparel in Brazil, China, and India. 2007 (www.mckinsey.com) • Marketing management – Kevin lane Keller & Phillip Kotler, 12th Edition, Chapter 9 Page No 273 • Marketing management – Kevin lane Keller & Phillip Kotler, 12th Edition, Chapter 9 Page No 274 onwards • Strategic brand management – Richard Elliot & Larry Percy, Indian Edition, Chapter 6 Auditing and Measuring Brand equity, Page no. 110
Reference • Fashion – From consumer to concept – Stephen Frings, 6th Edition chapter2 page no.31 • Paper - Branding of Fashion product : a communication process, a marketing approach, by Graca Guedes, Universidade Do Minho (Portugal), Paula da Costa Soares, Instituto Politecnico do Porto – ESIEG (Portugal). • Annual report of Shopper’s www.shoppersstop.com & page 17
Stop
Ltd
is
available
on
• The global branding report – 2007 by Stacy Backer, chapter 1 – Introduction
Research & Compiled by: Akansha Choudhary M/FMS/08/03 Bhavik Gandhi M/FMS/08/10 Sunil Kerketta M/FMS/08/31 FMS Department National Institute of Fashion Technology - Mumbai
Introduction
“Consumers are evolving entities. Their aspirations & expectations are continuously changing. Today’s shoppers are more intelligent, discerning & tuned to their individual preference. They are increasingly fashion and brand conscious and select labels which define who they are or who they want to be. The biggest challenge for all the brands is to create loyal consumer who love them.” – Shopper’s Stop Ltd’s
About Brand & Branding Brand according to (American Marketing Association) is ‘ A name, term, sign, symbol, or design, or combination of them, intended to identify the goods and services of one seller or group sellers and to differentiate them from those of competitors’ Branding thus is a means to distinguish one product from another and these differences may be functional, rational, or tangible – related to product performance of the brand. Brand equity is added value endowed to products and services. Brand knowledge consists of all the thoughts, feelings, images, experiences, beliefs, and so on that become associated with the brand. In particular, brands must create, strong, favorable, and unique brand associations with customers.
Brand Equity Model Brand Resonance The brand resonance model also views brand building as an ascending, sequential series from bottom to top.
Brand Equity Model
“Building a strong brand requires careful planning and a great deal of long term investment. At the heart of great brand is a great product or service backed by creatively designed and executed marketing” – Kotler & Keller
“Fashion begins and ends with the customers” – Stephen Frings
Marketing Communication applied to fashion Products
Brand Image in Market Communication process
Store Image in Market Communication Process
Consumer Confidence – AC Nielsen Report 2008
Consumer confidence worldwide has fallen to lowest level
Consumer Confidence – AC Nielsen Report 2008
World’s avid savers are from Asia & one in every three consumer (32%) chooses to buy new clothes from saved money.
Consumer Confidence – AC Nielsen Report 2008
79% of consumers in India are confident about positive change in the economic situation.
Consumer Market : KPMG report 2005
Increase in middle class (consumer group) played key role for the growth of consumer market in India
The Global Retail Apparel Index 2008 – ATKearney Report Rank
Country
Absolute market size
Growth prospects
Consumer affluence
Score
1
Brazil
45
33
42
48
2
China
74
22
36
47
3
India
57
37
31
47
4
Turkey
29
37
59
46
5
Chile
22
47
44
46
6
Romania
21
54
34
45
7
Argentina
21
44
39
41
8
Thailand
22
25
57
40
9
Russia
52
22
39
39
10
UAE
31
42
28
38
Apparel is India’s second largest retail category (behind food & grocery), representing 7 - 10% of retail market. Projected to reach $ 37 billion for 2008, apparel will be among the highest growth categories, with a CAGR of between 12 to 15%.
Consumer Buying Pattern – E&Y Report 2006
Clothing (7%) is the second largest segment in terms of retail sales.
McKinsey Report ‘07 – Consumer Brand Preference
In India, the youths have rated 4.3 out of 6 for the trustworthiness of National Brands & regarding the quality of foreign and local brand they are indifferent as per survey.
McKinsey Report ‘07 – Consumer Brand Preference
The survey indicates average spending on clothing of 6 months for India is Rs. 3045 in 2007. Indians do shopping during special occasions like marriage, festivals etc and with family and friends.
McKinsey Report ‘07 – Consumer Brand Preference
Comparing Indian consumer preference with that of Brazil, Russia & China. Indians prefer to buy branded clothes for special occasions, then all purpose use (Undergarments, Socks) and home wear.
Primary Data Analysis • Number of Samples – 116 • Male – 65 Female – 51 • Employed – 82 Unemployed – 34 • Places where survey conducted – Mumbai & Navi Mumbai
Primary Data Analysis Distribution of population as per occupation, gender and age using SPSS
Primary Data Analysis How often people go for shopping……..
Primary Data Analysis
Primary Data Analysis Average Spending during shopping………..
Primary Data Analysis Relation between Average Spending and Frequency of Shopping using SPSS
Primary Data Analysis
Primary Data Analysis SPSS Population Pyramid Graph
Primary Data Analysis
Celebrity endorsement includes – promotion of brands by actors, models, sport star, designer etc, promotion in movies, songs using celebrity.
Primary Data Analysis Relative Preference of consumer while selecting garment and accessories
Primary Data Analysis
Primary Data Analysis
Primary Data Analysis
Primary Data Analysis
Conclusion • In India the branding in the garments and accessories is in the growth phase. •Consumers have started identifying and preferring branded products over unbranded products & local and international brands due to growth in retail sector. • Another observation is that Indian consumer is quality and price conscious rather than brand conscious which means there are very few brand loyal customers. •Thus proper category management and catchment can improve branding and brand loyalty in India.
Reference • Consumer Confidence concerns, Spending and attitude to recession, a global Nielsen report – June 2008. (www.nielsen.com) • Conumer Markets in India –the next big thing? – KPMG report – September 2005. (www.kpmg.com) • Emerging opportunities for Global Retailers – The 2008 AT Kearney Global Retail Development Index (www.atkearney.com) • The Great Indian Retail Story – Ernst & Young Report – 2006 ( www.ey.com/india) • The Mckinsey Quaterly – How half the world shops: Apparel in Brazil, China, and India. 2007 (www.mckinsey.com) • Marketing management – Kevin lane Keller & Phillip Kotler, 12th Edition, Chapter 9 Page No 273 • Marketing management – Kevin lane Keller & Phillip Kotler, 12th Edition, Chapter 9 Page No 274 onwards • Strategic brand management – Richard Elliot & Larry Percy, Indian Edition, Chapter 6 Auditing and Measuring Brand equity, Page no. 110
Reference • Fashion – From consumer to concept – Stephen Frings, 6th Edition chapter2 page no.31 • Paper - Branding of Fashion product : a communication process, a marketing approach, by Graca Guedes, Universidade Do Minho (Portugal), Paula da Costa Soares, Instituto Politecnico do Porto – ESIEG (Portugal). • Annual report of Shopper’s www.shoppersstop.com & page 17
Stop
Ltd
is
available
on
• The global branding report – 2007 by Stacy Backer, chapter 1 – Introduction
Related Documents
Brand Analysis
June 2020 5
Brand Image Analysis
May 2020 7
Bacardi Brand Analysis
April 2020 4
Risk Analysis In Brand Valuation
June 2020 5
American Express Blue Brand Analysis
December 2019 56
