Brand Loyalty of Cigarette Smokers
Brand Loyalty of Cigarette Smokers - Introduction : This project discusses the "BRAND LOYALTY OF CIGARETTE SMOKERS". Today, the primary capital of many businesses is their brands. For decades the value of a company was measured in terms of its real estate, then tangible assets plants and equipment. However, it has recently been recognized that a company’s real value lies outside the business itself. in the minds of potential buyers.
The distinction between brand and product is fundamental product are what the company makes; what the customer buys is a brand. The same is true of services. In paying very high prices for companies with brands, buyers are actually purchasing a position in the minds of potential customers, be it in the stalls or in the royal circle. Awareness, image trust and reputation all painstakingly acquired over the years, are the best guarantees of future earnings. These justify the high prices paid. The value of a brand ...view middle of the document...
They draw their value from their capacity to reduce risk and uncertainty. In a world in which everything is changing brands possess a rare quality of stability.
Brand Image : Brands are the real capital of business. A brand is not a product: it is the product’s source, its meaning and its direction and it defines its identity in time and space. Too often brands are examined through their component parts: the brand name its logo design or packaging advertising or sponsorship, or image and name recognition or very recently in terms of financial brand valuation. Real brand management, however, begins much earlier with a strategy and a consistent, integrated vision. Its central concept is brand identity, not brand image. This identity must be defined and managed. It is the heart of brand management. It calls for new means of thought of thought and investigation.
The objective of the study, is to explore Brand Loyalty under different Buying Situations in FMCG - Cigarette industry in respect of:
• The change in the brand loyalty in response to change in price of cigarette brands and income level of consumers.
• To study the effect of non-availability of favorite brand on the brand loyalty of smokers.
• To study the impacts of new brand (price of which may be less than, equal to or more than the price of their favorite brand) on the brand loyalty of smokers.
• To know the role of reference groups in selection of brand of a cigarette.
• To study the importance that cigarette smokers attach to various attributes (price, taste, filter, etc.) while buying.
• To study the effectiveness of a good advertisement of brand in terms of its ability to attract consumers loyal to the competitor brand.
• To know the most preferred brand of cigarette smokers.
Table of Contents of Project Report:
1. Executive Summary
• What in a brand?
• Positioning of brand in the minds of customer
• Brand loyalty
• Consumer Buying Behavior
3. Objectives of the project
4. Scope of the project
5. Research Methodology
• Type of research
• Data collection approach
• Sample design
• Data analysis techniques
6. Industrial Scenario – ITC Ltd., GPI Ltd. & VST Ltd.
7. Findings and Analysis