Brand Loyalty
Short Description
Loyalty...
Description
1.
INTRODUCTION
1.1 ABOUT THE TOPIC:
Definition: What is a brand? There are several definitions of what a brand is, such as Kotler and Keller (2006); “a name, term, sign, symbol, or design, or a combination of them, intended to identify
The goods or services of one seller or group of sellers and to differentiate them from those ofCompetitors” (Glossary G1).
Lau and Lee (1999) have this definition; “A brand is a name, term, sign, symbol, or design (ora combination) intended to identify a seller’s goods or services and to differentiate them from competitors”. “A brand is a set of mental associations, held be the consumer, which add to the perceived value of a product or service” (Keller, 1998).
Introduction: Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth mou th publici publicity, ty, repetit repetitive ive buying, buying, price price sensiti sensitivity vity,, commit commitment ment,, brand brand trust, trust, custome customer r satisfaction, etc. Brand loyalty is the extent to which a consumer constantly buys the same brand within a product category. The consumers remain loyal to a specific brand as long as it is available. They do not buy from other suppliers within the product category. Brand loyalty loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the brand loyal consumer will stick to his brand. Brand loyal consumers are the foundation of an organization . Greater loyalty levels lead
to less less marke marketi ting ng expend expendit iture ure becaus becausee the the brand brand loyal loyal custom customers ers prom promote ote the brand brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains new competitors in the market. Brand loyalty is a key component of brand equity.
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Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement. Examples of brand loyalty can be seen in US where true Apple customers have the brand's logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly frie ndly menu system used by Nokia phones. Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality . As brand loyalty
incre increase ases, s, custo custome mers rs will will respo respond nd less less to comp competi etiti tive ve mo move vess and actio actions. ns. Brand Brand loyal loyal customers customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always. A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self promote the brand as they perceive that their th eir brand b rand have h ave unique un ique value which is not provided pr ovided by other competitive brands. b rands. Brand loyalty is always developed post purchase. To develop brand loyalty, an organization should know their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product. Why certain consumers are loyal to certain brands and what influences such an adherence? What makes a consumer deviate from the norms? What makes a consumer willingly get bonded to products or services as a result of a deep-seated commitment? A consumer is considered as a brand loyal whenever a consumer perceives that a brand is offering him the right right produc productt feat feature uress and the desir desired ed level level of quali quality, ty, and hence hence repea repeate tedly dly makes makes a conscious or subconscious subconscious repurchase of that particular brand. To get the buyer to that level, a brand has to be positioned very effectively and should have the right marketing mix that can make a consumer get attached to it. The brand when it displays that distinct identity, it is then that it captures the audience’s attention. Through this study let us see how we can use the web to connect with the customers and get them satisfied to the extent of making them brand loyal. How we can identify and acquire our high – valued customers and create an effective strategy to manage their responses and experiences such that it helps us to retain them and build them into loyal customers. How can we identify brand loyalty and what can we do to 2
Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement. Examples of brand loyalty can be seen in US where true Apple customers have the brand's logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly frie ndly menu system used by Nokia phones. Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality . As brand loyalty
incre increase ases, s, custo custome mers rs will will respo respond nd less less to comp competi etiti tive ve mo move vess and actio actions. ns. Brand Brand loyal loyal customers customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always. A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self promote the brand as they perceive that their th eir brand b rand have h ave unique un ique value which is not provided pr ovided by other competitive brands. b rands. Brand loyalty is always developed post purchase. To develop brand loyalty, an organization should know their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product. Why certain consumers are loyal to certain brands and what influences such an adherence? What makes a consumer deviate from the norms? What makes a consumer willingly get bonded to products or services as a result of a deep-seated commitment? A consumer is considered as a brand loyal whenever a consumer perceives that a brand is offering him the right right produc productt feat feature uress and the desir desired ed level level of quali quality, ty, and hence hence repea repeate tedly dly makes makes a conscious or subconscious subconscious repurchase of that particular brand. To get the buyer to that level, a brand has to be positioned very effectively and should have the right marketing mix that can make a consumer get attached to it. The brand when it displays that distinct identity, it is then that it captures the audience’s attention. Through this study let us see how we can use the web to connect with the customers and get them satisfied to the extent of making them brand loyal. How we can identify and acquire our high – valued customers and create an effective strategy to manage their responses and experiences such that it helps us to retain them and build them into loyal customers. How can we identify brand loyalty and what can we do to 2
perceive it? A brand symbolizes symbo lizes a company. It gains the th e customer’s regard when it shows that it gives product or services differentiating it from the competition. Brand Loyalty constitutes a lot to the company in terms of revenue generation and word of mouth advertising. Innovative marketing strategies to imply brand loyalty becomes a must for e-mar e-market keter ers. s. If the comp company any has has to achi achieve eve a higher higher level level of succe success ss then then it becom becomes es mandatory to create a large pool of brand loyalists. The area where an e-marketer needs to put attention atte ntion is towards toward s his approach for SEM. When an e-marketer desires to achieve brand loyalty, he has to completely evaluate and understand his purchase psychology .It is very necessary to understand that sales are the true measure of success in brand loyalty. Usually in the SMM activities, the success is measured in terms of clicks or viewership. Here, it becomes important that the marketing activities have to be so structured and accurate as to result in getting more sales. The factors constituting to loss of a brand loyalist showcases serious concerns for the brand. In the end it can only be said that the more no. of brand loyalists you tend to acquire in your course of business, the more chances of your brand achieving the pinnacle of success increases. The term loyalty is associated with a feeling of devoted attachment and affection. The term ‘brand loyalty’ captures this very essence but from a commercial perspective. Manufacturers and companies are always trying to create niche in the market by constructing their own base of loyal customers, customers, who over the period of time have accepted the product whole heartedly. These brand loyalists would spend their money devotedly to acquire the particular product and would also carry a feeling of immense satisfaction on the purchase. The importance of brand loyalty can be asserted from the fact that it plays a vital role in the company’s advertising appetites. If a particular product is having a good brand loyalty, then the company spends large expends over short periods of time to attract new patrons, but if the brand loyalty is low then companies tend to keep the advertising at a steady pace to attract fresh consumers and to boost sales (Loudon. Pg 567. 2001).Maintaining brand loyalty is the biggest challenge for the company, as it is a very tedious process to acquire a customer and then convert him to carry repeat purchases from the company. The more difficulty part comes in providing the same level of service that a customer will expect in his return to his loyalty.
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1.2
INDUSTRY PROFILE
Industry Overview:
The Fast Moving Consumer Goods (FMCG) sector in India has been growing at a healthy CAGR of 11% over the last decade riding on the back of increasing demand and changing consumer preferences, thanks to higher disposable incomes and the retail revolution, the sector has-been posting double-digit growth over the past couple of years. The industry is volume driven and is characterized by low margins. The products are branded and backed by skilled marketing, heavy advertising, slick packaging and strong distribution networks. Also, raw material prices play an important role in determining the pricing of the final product. Modern retail formats too have contributed in a major way in pushing the growth in the FMCG sector. With rising income levels and the spread of modern retail, the FMCG industry’s future prospects look bright which is expected to further boost sales. Growth in the sector is led by higher urban and rural demand. Going forward, the government’s growing support to agriculture will drive long-term growth in consumption from the rural sector. In our view, amongst all the FMCG segments, the food segment will outperform over the coming years. The Indian food industry is a significant part of the Indian economy, (food constitutes about 36% of the consumer wallet) The Indian food industry is poised to grow by a whopping 63.5% from Rs788, 100crs now to Rs.1, 288,900crs in next 5 years and by 137.8% to Rs.1, 874,100crs in next 10 years, throwing up huge opportunities for investments across the entire value chain1 India faces contrasting problems of having one of the highest malnutrition cases and also being the diabetes capital of the World. In our view, both of these are an opportunities for Food companies. The Health foods segment is likely to see one of the highest growths in the Food segment
To exploit this trend many companies have launched health based productive. Britannia launched Nutrichoice biscuits, DANONE launching robotic yogurt,Dabur introduced a juice with fiber and HUL introduced Soya and multigrain atta, iodized salt, energy drinks. We believe that the demand for these products is going to outpace the overall Food Category growth for the years to come.
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Market Overview:
Fast Moving Consumer Goods (FMCG) goods, popularly named as consumer packaged goods, play a vital role as a necessity and as an inelastic product. The Indian FMCG sector is the fourth largest sector the economy with a total market size of Rs. 167,100crs1the market is estimated to grow to US$ 100 billion by 2025, according tomarket research firm Nielsen In the last decade the FMCG sector has grown at an average of 11% a year; inthe last five years, annual growth accelerated to 17%. The FMCG Industry is characterized by a well-established distribution network, low penetration levels, low operating cost, lower per capitaconsumption and intense competition between the organized and unorganized segments. FMCGs are slowly and gradually positioning and deeply penetrating in the fast-growing rural market. The Rural mindset is open to consumption of newer, more contemporary food categories and as a result, drives consistent growth. Rural India accounts for more than 700 Million consumers or 70% of the Indian population and accounts for 40% of the total FMCG market. The Rural market is a large market space with very low organized player penetration. Across the globe, the Indian rural market is probably the single largest “unit” of opportunity. Also with changing lifestyle and increasing consumer demand, the IndianFMCG market is expected to cross $80 billion by 2026 in towns with population of up to 10 lakh. The sector has a tremendous opportunity for growth in India, with the growing population, the rising incomes, education and urbanization, the advent of modern retail, and a consumption-driven society.
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1.3
COMPANY PROFILE
CORPORATE VISION
"We shall achieve growth by continuously offering unique products and services that would give customers utmost satisfaction and thereby be a role model." PROFILE
Success is a journey not a destination. CavinKare began with a young mind choosing the road less taken. In 1983 with a single product, CavinKare started out as a small partnership firm. The Company that began its journey as Chik India Ltd was renamed as CavinKare Pvt. Ltd (CKPL) in 1998. With innovative Entrepreneur C.K. Ranganathan at the helm, CavinKare emerged into a successful business enterprise. Smart marketing and clear product positioning not only ensured CavinKare's growth but also helped the company broaden its product portfolio extensively. The company now markets ten major brands. Over the years, CavinKare has achieved a competitive edge with sound understanding of mass marketing dynamics. The company offers quality Personal care (hair care, skin care, home care) and Food products borne out of a keen understanding of consumer needs and keeping up company's the values of innovation and customer satisfaction. Today, CavinKare, having established a firm foothold in the national market, is increasing its popularity in the international arena. A dedicated Research & Development centre, equipped with latest equipment and technologies, constantly supports the various divisions in their endeavour. The Company, which primarily relied on contract manufacturing for many years has now set up its own world class plant at Haridwar to cater to the demand of both domestic and international market. CavinKare Group has crossed a turnover of 11000 million INR in 2011-2012. The Company has employee strength of around 3000, an all India network of 5351 Stockists catering to about 25 lakh outlets nationally. CavinKare's astute professionalism, innovative products and consistent quality are results of its significant corporate practice.
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" To succeed we believe that we need total commitment and highest standard of ethical and corporate behaviour in order to provide the best for our consumers, stakeholders and employees".
Values and beliefs Successful organizations are founded on strong value systems. CavinKare has the following 5 Values based on which all interactions within and outside the organisation takes place. Ethical Behaviour
Excellence
Innovation
Ownership
Definition And Actionable Points Of Values & Beliefs
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Stakeholder's Delight
Definition
Actionable Points
The Company values honesty and I will not tolerate any actions of truthfulness in all its interactions dishonesty and will highlight the and shall be fair in all its dealing same to the appropriate person in the with people inside and outside the Company. I will create an environorganization.
We
will
fulfill ment that is conducive for practicing
promises and commitments.
ethical behaviour.
The Company values highly all I will continuously strive to raise the efforts that lead to high standards in performance bar of mine of team every day work and results. We members. I will achieve excellence shall attempt to be the best in class by in everything we choose to work rigor on.
We
shall
encourage
demonstrating in
pro-activeness,
planning,
speed
and
any preservence in my every day work. I
individual or collective effort in will not only achieve what is promoting excellence.
expected of me, in the given time frame but also exceed expectations.
The Company values innovative I will continuously develop unique approaches and innovative solutions and
differentiating
ideas
which
in our regular work life. We will would benefit the stakeholder or always look for newer better ways business.
I
will
develop
break
of doing things; we will seek new through ideas and experiment on a ideas to solve problems; we will regular basis. I will create an experiment with new ideas
and solutions
concepts, environment that will enable idea to
deliver generation.
unique products and services. The Company values the individual I will take responsibility for all my belief of ownership, accountability actions and shall not pass the buck. and achievement orientation. All It is my responsibility to guard and our employees are an integral part protect the interests/ property of my of the Company and have a high Company. I will make myself accoustake in its well-being, as well as in ntable to the outcomes and I also shaping its destiny. Individually or ensure that my team demonstrates collectively,
we
assume the same.
responsibility for all our actions and their
consequences.
We jointly 8 share the company's objectives, and it is onto us to make it happen.
The
Company
values
all I will constantly strive to exceed
stakeholders and believes that all of theexpectation them deserve the best deal from us. stakeholders
of
all
the
(stakeholders-
We shall aim not just to satisfy consumers, customers, employees, them but deliver more than their financial institutions, gov-ernment expectations
to
delight
them. agencies and shareholders).
(Stakeholders include both internal and external consumers, customers, Corporate practices employees,
vendors,
financial
Enjoying work is whatinstitu-tions, working at CavinKare is all about. The work culture at CavinKare government agencies features lots of freedom immense responsibility. Employees are given an opportunity not andand share holders.) only to express their Creativity but also experience Freedom at work. It provides its employees an atmosphere of easy informality, and an absence of restrictive hierarchies or functional boundaries. Communication is encouraged across levels and departments; cross functional teams flourish; the top management to the junior most employees participate in open house sessions; value based management is often a part of the agenda in many meetings; and innovations big and small are applauded. In addition to all this employees are also allowed to purchase our products at a great discount once a month.
Communication among people is the life force of CavinKare's vibrancy and dynamism. Numerous forums exist. There are dialogue sessions, intranets, attitude surveys, off work gatherings, sporting events, Star Performer and idea contests. There are Recreational facilities including a gymnasium for the employees.
We have a well thought out HR philosophy that anchors all these diverse initiatives and activities. Since success is where preparation and opportunity meet we believe in grooming better Managers for today and tomorrow. There is a detailed management policy which ensures a reservoir of talent. Performance management is also ensured to make sure every employee gives and gets the best. It takes great goals and proper management to lead us out from our everyday limits into accomplishing more than we ever thought we could or would and the achievement of one goal should be the starting point of another. We also strongly believe that Rules, be it ethical or organizational, are not meant to be broken.
Community action CK Ranganathan (CMD, CavinKare) always believed that disability is never a handicap and people need to change their attitude to provide opportunities to the physically challenged people to prove themselves.
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CavinKare takes an active interest in supporting organizations working on social issues. CK Ranganathan is one of the founder-members of the Ability Foundation – an NGO working towards the rehabilitation of the disabled. His belief took a firm shape when CavinKare teamed up with Ability Foundation, led by Ms. Jayashree Raveendran, an NGO that is primarily working to integrate persons with disabilities into mainstream society; instituted CavinKare Ability Awards to celebrate the exemplary spirit of rare breed of individuals who have risen above their physical limitations to display that attitude is everything. The annual awards which has been organised for 9 years in succession till date has gained enormous recognition. Many celebrities, social workers, civil servants, and people from all walks of life contribute to the cause by witnessing the awards and also contributing in the manner they desire towards the just cause.
The CavinKare Ability Awards, a total of four awards, are given annually to salute personal triumphs, the extraordinary spirit of achievement and a looking beyond one's own self and physical limitations. The awards are
• The CavinKare Ability Award for Eminence (1 Award) • The CavinKare Ablity Mastery Awards (3 Awards)
Manufacturing plant CavinKare
manufactures
its
entire
portfolio of products through in-house Plant at haridwar (Uttaranchal) and as well through Contract Manufacturing by outsourcing
it
to
Third
Party
Manufacturing Units. The Third party units are located across India in places like Pondicherry, Noida, Assam and Faridabad. These units produce and pack various products under the different CavinKare brands. CavinKare makes sure that quality 10
and consistency is maintained in all of these units as per the R&D specifications and manufacturing standards.
CKPL Plant at Haridwar
CavinKare's own Manufacturing Plant which got commissioned in 2006, is situated in picturesque state of Uttaranchal at Sidcul Industrial Estate, Haridwar with an area of 8 acres with a built up area of around 1 lakh square feet. It is at a distance of 225 kms from New Delhi and 52 kms from state capital Dehradun. The Plant capacity is around 5000 Metric Tons and built with an investment of INR 70 crores. The Plant is environment friendly with effective waste management systems in place. Currently, shampoos, creams, moisturizing lotions and talcum powder are being manufactured here in various sizes and variants. The Company has plans to manufacture hair dyes and herbal powders in near future. The entire machinery in the Plant is imported in order to have the best output, conforming to international manufacturing standards. The Strategic decision of the Company to get into manufacturing for the first time after nearly 23 years of its existence was to have better control over quality and produce consistent supplies. This also helps enhance capacity of production to cater to next three years of Company growth, time management as well as to reduce freight cost. The Plant has vertically integrated manufacturing (manufacturing to packaging) with very minimal human intervention during the process. The Plant has a lean organizational structure consisting of Plant Head, Resource Leaders and Associates. Close to 199 associates are currently employed in the Plant. Most of the associates are locals and freshly passed out students from high school. They undergo CavinKare sponsored course in manufacturing from Dehradun Institute of Technology for 1 month for concept development. The students have an in-Plant on job training for 1 year before they get finally absorbed in Company rolls. High Performance Work System (HPWS) is a specific combination of HR practices, work
structures, and process that maximizes employee knowledge, skill, commitment and flexibility. We have a work culture where you have a “self-motivated team, everyone shares common purpose, business result is priority, self managed team, no superior, no rigid hierarchy and procedures, information is shared, top management will not get involved in day to day operations, employees need not wait for operational decisions, things happen fast and 11
learning is a way of life.
PRODUCT AND SERVICES
For the last two decades CavinKare has been providing the Indian market with a range of high quality beauty products that are backed by modern research and development, a strong distribution network and above all a selection of the safest ingredients for the products.
Personal Care
Raaga Professional
Dairy Products
Food Division
BeveragesMaa Fruit Drink
International Beverages-
Business
Cavin’s Flavored Milk
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2. ABOUT THE STUDY
2.1 REVIEW OFLITERATURE
•
Brand loyalty, a fascinating but in trigging phenomenon has been a subject of study in the Westsinceabout1920s.Since then hundreds of studies concerned with brand loyalty have been undertaken in various countries with different marketing environment. However, for a variety of reasons, studies investigating this critically important aspect of marketing are sporadic in our country. A brief review of such dispersed efforts of research in the field of brand loyalty available with the researcher is attempted in the following paragraphs.
•
An important study relating brand and store loyalty was attempted way back in1956by Cunnigham,R.M.(1956).He attempted to find out whether consumers who are brand loyal area so store loyal. However, the study could not establish a close association between store and brand loyalty.
•
Mitterstaedt, R.
(1959)observed
that brand
loyalty
maybe
the
cause
of
purchasedissonancefeltbytheconsumeratthetimeofpurchaseofacertainproduct `A‘. And such experiences may lead him to repeat purchase of product `B‘.
•
Peesemiers,E.A.,(1959)‘s approach brand switching behavior was based on the price factor. He emphasized the fact that price increase in the most preferred brand relative to the price of the other brands, is instrumental to induce brand- switching behavior in consumers.
•
Cunnigham,R.M.,(1961)undertook a stud combining consumer loyalty to store and brand. He attempted to relate many store and brand loyal lists and tried to measure store loyalty by the concentration of total food products purchased on product by product basis. In all, eighteen product classes were identified and analyzed. Out of the same, only three product classes how statistically significant co-relationco13
efficient.Itwasalsomadeknowninhisstudythathighstoreloyalty did not necessarily contributed to high brand loyalty. When brand loyalty was measured on a product by product basis, significant association was found to exist in high brand loyal families concentrating their purchases in that product class in one store. •
TuckerW.T.,(1964)defined brand loyalty as three successive preference of the same brand in their empirical studies of this concept.
•
Ronald, F. and Harper, B. (1965) conducted a comparative study and indicatedthatsocio-economicvariablescouldnotbedifferentiatedbetweenprivate
and
manufacturers' brand loyal consumers. •
Cunnigham, S.M. (1967) examined the pattern of consumer behavior regarding the selection of one’s favorite brand and
its
non-availability.
He also analyzed
purchasing behavior regarding the number of brands purchased, and the percentage of money spent on most frequently purchased brands by using a brand loyaltyscore.Relationshipbetweenbrandloyaltyandcertainpersonalitymeasures
was
observed in the Study. •
Sheth,J.N.andVeketesan,M., (1968)suggested that perceived risk is a necessary condition for the development of brand loyalty. They tried to relate factors like cognitive dissonance and perceived risk of brand loyalty. They conducted a study in laboratory suggesting that perceived risk is essential for the development of brand loyalty.Thesufficientconditionbeingtheexistenceofwellestablishedbrandswhich the consumer.
•
Seth,J.N.(1968)study on brand loyalty is based on the factor analytic approach which relates to the frequency of purchases of a brand to patterns of these purchases by the consumers and gauge the level of brand loyalty.
•
Simon, J.L.(1969)attempted to analyse the effect of advertising on the sales ofbrand.Theroleofadvertisementsinshapingone'simageandperceptionofbrands
is
known. Many researchers have attempted to study the role of advertisements on brand loyalty. A successful advertisement must be able to transfer its distinctive 14
appeal over to the brand.
•
Carman,J.M.(1970)was able to measure brand loyalty in some specific purchases made by consumers of certain brands during a set period of time. According to him, brand loyalty is closely associated with the consumers shopping pattern and the amount of money spent by consumers in shopping. There is also a close relationship between the amount of money spent on purchases, the brand last purchased, inter purchase time, and store loyalty.
•
Bird,M.,Chanon,C,andEherenberg,A.C.,(1970) in their paper observed that attitudes and usage level vary for different brands. The relationship between the attitudinal change and behavioral change with regard to the same group of people was analyzed and studied by Chanon and Ehrenberg.
•
Newman,J.W.andWebal,R.A.(1973) in their study found that there exists a close relationship between brand loyalty and the satisfaction derived after using the particular brand purchased. Many researchers emphasized the fact that store loyalty wasoneofthemostimportantfactorscorrelatingwithbrandloyalty.Thismay be due to the reason that store loyalty of a customer may restrict his choice to the limited varietyofbrandsavailabletohiminthestoreheisusedtopurchasing.Theduoin theirpaperpo brand satisfaction. They intedouttheknownfactthatbrandloyaltyisthenaturaloutcomeof observed that relatively strong relationship exists between brand loyalty and satisfaction with a present product of that brand.
•
Weinberg, C.B., (1973)in his study pointed out that competing brands occupying themarketshelvescontributetodisloyalty.Thisisbecauseofone‘s
personal experience
and information gained through tryingthesebrands.
•
Shopping-proneness is another characteristic that has been related to brand loyalty. Consumers, who are not shopping prone, shop in relatively few stores. Within thesestores,
they
tendtobeloyaltoasmallnumberofbrandsratherthanmake
15
careful
choices between the values being offered by these stores. When the store in which the shopper normally makes a purchase, undergoes substantial change (such as ownership), it may also affect the buyers loyalty
to the manufacturer‘s brand
purchased from that store earlier. The study undertaken by Norstorm,R.D.andSwan, J.E., (1976)on auto buyers, discloses the above findings. •
Consumerswithrelativelylowerincomedonotindulgeinextensiveshopping
as
their
means are also limited. They also make less use of the shopping alternatives available.Goldman,A.(1976)inhisstudyonfurniturecameoutwiththeabove findings. •
Singh, J .D . and Singh, R., (1981),in their study examined the store patronage behavior of groups and found a positive correlation between brand and store loyalty of the consumers.
•
Some brands have value expressive dimensions, especially, commodities like clothing. Swartz,T.A.(1983) in her study described the brand symbols and message differentiation.
She
c o n c l u de d
that
individuals
had
different
i n t e r p r e t a t i o n s f o r different brands of the same product. The extent to which functional differences.
•
The study made by Agrawal,A.K.,(1983)
on contributory factors ofbrand
loyaltystatusofIndianconsumersrevealedthatconsumersingeneral,havebeen found to be quite loyal to the brands of frequently purchased items. The store loyalty was also observed to be high, though not as high as brand loyalty. Income of the household, size of the family and the age of the household were positively correlated with brand loyalty. •
James, R.P., (1994)in his study examined the brand loyalty and brand switching behavior of cooking
oil consumers and observed the existence of a positive
relationship between age and education of the consumers and their brand loyalty. Television and newspaper advertisements played a significant role in shaping the brand loyalty behavior of the housewives. Mostly out of stock situation (OSS)led to brand switching behavior with the consumers. Besides, store loyalty and brand loyalty of the consumers are positively correlated.
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•
Raut,K.C.andNabi,M.K.,(1998)examinedhowfarthepostpurchase sequentialpattern of favorable post purchase experience, high purchase intentions, brand loyalty, repeat purchases and recommendation to potential buyers in that order holds good in the Indian marketing environment incase of durable productlike television. They concluded that even high level of satisfaction at post purchase stage is not adequate to inculcate strong brand loyalty. In short, brand loyalty behavior of television owners more or less remained fragile suggesting that brand loyalty varied for different types of products/categories.
•
ElifAkagun,HandanOzdemirandNeruettinParilti,(2005) in anarticle published in the Journal of Business and Economics Research–May, 2005, titled brand Loyalty in the Cosmetics Industry: A field study on Turkish women‘sBrandLoyalty among Cosmetics Products, studied the level and pattern of brand loyalty among Turkish women. They have further tried to analyze the relationship between demographic factors like age, education level, city of residence and occupation and brand loyalty; the relationship between factors that cause loyalty for and switching of brands and the Turkish women‘s Brand loyalty behavior. They concluded that firstly, Turkish women do have brand loyalty among the skin care products they use; secondly,thereisnosignificantrelationshipbetweenawoman‘sbrandloyaltyfor skin care products and her age and education level but the city of residence of a womanandbrandloyaltyforskincareproductsarerelatedtoeachother.Thirdly,
when
analyzing the relationship between a woman‘s brand loyalty and the reasons that a particular brand is selected, they found that factors like product advertisements, recommendations of family and friends, wide availability of the product and the brand name‘sreputationhadsignificantrelationshipwithawoman‘sbrandloyalty for skin care products but factors like price of the product, packaging, sales promotion, and product-skin type matching did not. And finally they found out that here is significant relationship between a woman‘s brand loyalty and her behavior that results from being unable to find the desired product while shopping at as tore and when the product is finished in stock. •
PanigrahiRajeshwariandRautKishoreChandra, (2006)inabooktitled―ConsumerandBrandLoyalty.‖have comprehensively
covered
the
Loyalty
Level
and
Pattern 17
of
Brand
BehaviorofconsumersintheIndianMarketingEnvironment. Based on a survey work, the book explores the complexities of brand allegiance behavior ofFMCGbuyers. It attemptsasubjectiveunderstanding of the factors havingadirectbearingontheloyalty levelandpatternofconsumersatthemarket place.
2.2 Objective of the Study
Primary Objective:
A study on brand loyalty for chinnis product at cavin kare ltd
Secondary Objectives:
•
To determine the perception of retailers towards the chinnis brand.
•
To understand the market reality about the chinnis.
•
To analyses the market shares of chinnis among competitiors.
•
To identify the various after brand preferred by retailers.
•
To analyses of what makes customer having brand loyalty.
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2.3 Need For The Study: •
This study would help the marketing department to understand its position through the eyes of the customer.
•
This study would help the organization to sustain itself in the current market situation and in the current market situation and also to understand its strength and weakness, when compares to the competitor brand.
2.4Scope Of The Study: •
The main aim of this project work is to study the brand loyalty about Chinni’s product and also find out various competitive brand preferred by the customer retailer point of view.
•
The sale volume of the Chinnis product would be gradually increased by presenting the research report.
‘
19
2.5Limitations of the Study:
This study is only modest attempt and not be claimed as comprehensive one, further it is to be pointed that data are inebriation for the study and consequently the findings made out of it are reliable to the extent that the respondents have been forthright nourishing the same. During conducting this research I come across the following limitations: -
•
Time is the important limitation. Due to time constraints only limited population is taken for the study.
•
Findings based on this study cannot be used in other organizations.
•
There are chances of misrepresentation responses.
•
The biased view of the respondent is another cause of the limitation
However in spite of these limitations all efforts have been put to make the report correct, genuine, and fulfilling the objectives of the reports.
20
3. RESEARCH METHODOLOGY
Research
The research comprises of defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data, making deductions and reaching conclusion; and at last carefully testing the conclusions to determine whether they fit formulating hypothesis. The research process is carried out to a series of step, which are required to be taken in chorological order. The major marketing research steps are as follows:
Problem identification.
Research design.
Fieldwork.
Data analysis & interpretation.
Report Presentation.
Problem Identification
The first and foremost step in this research is to identify the problem chosen for investigation. The step has very significance, once it is said “A Problem well identified is half way to solution”. On the other hand if the problem identified vaguely, a wrong
problem is identified, or research is not clarified, then the research result may be completely useless for the management, and the research effort of the investigation will be a futile exercise. Research Design
A research design is a master plan or model for the formal investigation. Once the formal investigation is decided, the researcher must formulate the formal plan of investigation. A research design id the specification of methods & procedure, for acquiring the information needed for solving the problem. The formal investigation plan will concentrate on the selection of sources of information and the selection of methods and
21
procedures for gathering the data. Data gathering forms are prepared. Questionnaires are tested, samples for investigations are planned.
There are three basic types of research design:-
Descriptive
Exploratory
Casual
In my research I have used the descriptive research design Descriptive Research Design
Descriptive research is undertaken when the researcher want to know the characteristics of certain groups. The design in such study must be rigid and must focus attention on the following •
Formulating the objectives of the study,
•
Designing the method of data collection,
•
Selecting the sample,
•
Collecting the data,
•
Processing and analyzing the data.
SAMPLING METHOD:
Sampling Design
A sample design is definite plan obtaining a sample from a given populations. It refers to the technique or a procedure, the researcher would adopt in selecting items for the sample.
Sampling method
22
For this research Convenience Sampling is used. As the name implies, convenience sampling refers to the collection of information from members of the population who are conveniently available.
Convenience Sampling
Under this sample the researcher selects the most accessible population member from which to obtain the information. It involves choosing of the samples on the convenience basis. Sample size
The sample size for this study is taken as 120 for the interview and issue questionnaires.
Data collection method
Questionnaire had been prepared to get the response of the people as per guided by the organizational guide. To provide the best end results without any kind of biasness, which can give a brief idea about sampling and would be beneficial for making inferences for tabulations and calculations with research instruments? I made a survey through questionnaire as prepared by me.
DATA SOURCE There are two sources of data collection:
Primary data source
Secondary data source.
Sources of Data Primary Data Primary data are those data, which are obtained for the first time by the investigator himself. In order words, by primary data we mean those data, which are originally, i.e., those in which little or no grouping has been made, the instance being recorded or itemized encountered. The source of primary data used in my project is the questionnaire. Primary are the raw data like raw material. Primary data are according to object of investigation and used without correction. The collection of primary data requires large sum, energy and time. Precautions are not necessary in the use of the primary data.
Secondary Data Secondary data means data that are already available i.e; they refer to the data, which have already been collected and analyzed by someone else. When the researcher utilizes secondary 23
data, then he has to look in to various sources from where he can obtain them. In this cause he is certainly not confronted with the problems that are usually associated with the collection of original data. Secondary data may either be published data or unpublished data.
TOOLS FOR ANALYSIS: STATISTICAL TOOLS ADOPTED FOR THE STUDY The statistical tools adopted in the research are below. This is used to frame a list of findings which is useful to give suggestions. •
CHI – SQUARE TEST
•
TWO WAY ANNOVA
CHI – SQUARE TEST:
The objective of chi-square test is to determine whether the real of significant difference exists among the various groups. Chi – square test involves comparison whether the difference between the two is greater than that might occur by change: The null hypothesis is rejected if the computed value is greater than the tabulated value. The null hypothesis is rejected if the computed value is less than the tabulated value. FORMULA: 2
ψ
= (Oi – Ei) 2 / Ei
Oi = OBSERVED FREQUENCY Ei = EXPECTED FREQUENCY TWO WAY ANNOVA:
The two-way analysis of variance is an extension to the one-way analysis of variance. There are two independent variables (hence the name two-way).
Assumptions: •
The populations from which the samples were obtained must be normally or approximately normally distributed.
•
The samples must be independent. 24
•
The variances of the populations must be equal.
•
The groups must have the same sample size.
TWO WAYANOVA table for an a x b factorial experiment is
Source
SS
df
Factor A Factor B Interaction AB
SS (A) SS (B) SS (AB)
(a - 1) MS (A) = SS (A)/(a-1) (b - 1) MS (B) = SS (B)/(b-1) (a-1)(b-1) MS (AB)=
Error ( N - ab) SSE Total (Corrected) SS(Total) ( N - 1)
MS
SS (AB)/(a-1)(b-1) SSE /( N - ab)
ONE WAY ANOVA
The ANOVA tests the null hypothesis that samples in two or more groups are drawn from populations with the same mean values. To do this, two estimates are made of the population variance. These estimates rely on various assumptions). The ANOVA produces an F-statistic, the ratio of the variance calculated among the means to the variance within the samples. If the group means are drawn from populations with the same mean values, the variance between the group means should be lower than the variance of the samples, following the central limit theorem. A higher ratio therefore implies that the samples were drawn from populations with different mean values. The one-way analysis of variance (ANOVA) is used to determine whether there are any significant differences between the means of two or more independent (unrelated) groups (although you tend to only see it used when there are a minimum of three, rather than two groups). For example, you could use a one-way ANOVA to understand whether exam performance differed based on test anxiety levels amongst students, dividing students into three 25
independent groups (e.g., low, medium and high-stressed students). It is important to realise that the one-way ANOVA is an omnibus test statistic and cannot tell you which specific groups were significantly different from each other; it only tells you that at least two groups were different. Since you may have three, four, five or more groups in your study design, determining which of these groups differ from each other is important. Type of Store Frequency Percentage Petty Shop
16
13.3
Kirana Store
40
33.3
Super Market
48
40.0
Bakery
16
13.3
Total
120
100.0
4.
DATA ANALYSIS AND INTERPRETATION
Percentage Analysis:
Table No: 4.1 – Type Of Store
Chart No: 4.1 – Type Of Store
26
Inference: From the above table and chart it is inferred that 13.3% of respondents states that
their customer holding Petty Shop ,33.3% respondents states that their customer holding Kirana Store are their customers, 40% of their respondents states that their customer holding supermarket and 13.3 % customer holding bakery.
Table No: 4.2 – Various Brand Brand
Frequency
Percentage
Chinnis
32
26.7
Rajas
24
20.0
Rajaram's
48
40.0
Nathans
16
13.3
Total
120
100.0
27
Inference: From the above table and Chart it is inferred that 26.7% of respondents states that
they Purchasing chinni’s,20% 0f the respondents states that they Purchasing Rajas Brand, 40% of the respondent states that they purchase rajarams’s and 13.3% of the respondent state that they purchase Nathans brand.
Table No: 4.3- How do you Know About The Product How do you Know About The Product
Frequency
Percentage
Sales Executive
72
60.0
Other
48
40.0
Total
120
100.0
Chart No: 4.3 - How do you knowabout the Product
28
Inference: From the above table and Chart it is inferred that 60% of respondents states that
they came to know about the product through Sales Executive, while 40% respondents states that they Came to know about the product through others.
Table No: 4.4– Purchasing the Product Often to Purchase
Frequency
Percentage
Daily
72
60.0
Weekly
8
6.7
Monthly
40
33.3
Total
120
100.0
Chart No: 4.4 - Purchasing the Product 29
Inference: From the above table and chart it is inferred that 60 % of respondents states that
they purchase the product daily while 6.7% of respondents states that they purchase product monthly and 33.3% of the respondent states that they purchase the product monthly..
Table No: 4.5 – Type of Product Purchase From this Company Product
Frequency
Percentage
Pickles
16
13.3
Beverages
48
40.0
Snacks
40
33.3
Dairy Product
16
13.3
Total
120
100.0
30
Chart No: 4.5 - Type of Product Purchase from this Company
Inference: From the above table and chart it is inferred that 13.3 % of respondents states that
they purchase the pickles while 40% of respondents states that they purchase beverages, 33.3% of respondents states that they purchase snacks and 13.3% of the respondent states that they purchase dairy product .
Table No: 4.6 – Level Of Satisfaction for Price Satisfaction Price
Frequency
Percentage
Highly Satisfied
40
33.3
Satisfied
56
46.7
Neutral
24
20.0
Total
120
100.0
Chart No: 4.6 - Level Of Satisfaction for Price
31
Inference: From the above table and chart it is inferred that 33.3 % of respondents states that
they highly satisfied with the price while 46.7% of respondents states that they satisfied with the price and 20% of the respondent state that they neutral with the price.
Table No: 4.7 – Level of Satisfaction for quality Satisfaction Quality
Frequency
Percentage
Highly Satisfied
24
20.0
Satisfied
96
80.0
Total
120
100.0
Chart No: 4.7 – Level of Satisfaction for Quality
32
Inference: From the above table and chart it is inferred that 20 % of respondents states that
they satisfied with the quality while 80% of respondents states that they highly satisfied with the quality.
Table No: 4.8 – Level Of Satisfaction for Taste Satisfaction Taste
Frequency
Percentage
Highly Satisfied
48
40.0
Satisfied
72
60.0
Total
120
100.0
Chart No: 4.8 – Level of Satisfaction for Taste 33
Inference: From the above table and chart it is inferred that 40 % of respondents states that
they highly satisfied with the taste while 60% of respondents states that they satisfied with the taste.
Table No: 4.9 – Level of Satisfaction for Packaging Satisfaction Packaging
Frequency
Percentage
Highly Satisfied
16
13.3
Satisfied
80
66.7
Neutral
24
20.0
Total
120
100.0
Chart No: 4.9 - Level of Satisfaction for Packaging
34
Inference: From the above table and chart it is inferred that 13.3 % of respondents states that
they highly satisfied with the packaging while 66.7% of respondents states that they satisfied with the packaging and 20% of the respondent state that they neutral with the packaging.
Table No: 4.10 - Level of Satisfaction for Discount Satisfaction Discount
Frequency
Percentage
Satisfied
40
33.3
Neutral
80
66.7
Total
120
100.0
Chart No: 4.10 - Level of Satisfaction for Discount 35
Inference: From the above table and chart it is inferred that 33.3 % of respondents states that
they satisfied with the discount while 66.7% of respondents states that they neutral with the discount.
Table No: 4.11 – Trust the Brand Trust
Frequency
Percentage
Very Much
88
73.3
Neutral
32
26.7
Total
120
100.0
36
Chart No: 4.11 – Trust the Brand
Inference: From the above table and chart it is inferred that 73.3 % of respondents states that
they very much trust with the brand while 26.7% of respondents states that they very much trust with the brand.
Table No: 4.12 - Brand Name Influence Your Decision Making In Purchasing Decision
Frequency
Percentage
Yes
104
86.7
No
16
13.3
Total
120
100.0
37
Chart No: 4.12 - Brand Name Influence Your Decision Making In Purchasing
Inference: From the above table and chart it is inferred that 86.7 % of respondents states that
they will influence the brand while purchase while 13.3% of respondents’ states that they won’t influence the brand while purchase.
Table No: 4.13 – Period of Purchasing the Brand Period of Purchasing
Frequency
Percentage
Less Than One Year
104
86.7
1-2 Years
16
13.3
Total
120
100.0
38
Chart No: 4. 13 – Period of Purchasing the Brand
Inference: From the above table and chart it is inferred that 86.7 % of respondents states that
they buying the product less than one year, while 13.3% of respondents’ states that they buying the product produc t 1-2 years.
Table No: 4.14 – Distributor Response Distributor
Frequency
Percentage
G o od
80
66.7
Moderate
40
33.3
Total
12 0
1 00 . 0
39
Chart No: 4.14 – Distributor Response
Inference: From the above table and chart it is inferred that 66.7 % of respondents states that
distributor distributor response is good, while 33.3% of respondents’ states that they feel that distributor response is moderate.
Table No: 4.15 – When out Of Stock When Product OutofStock
Purchase Different brand
Chart No: 4.15 - When out Of Stock
40
Frequency
Percentage
1 20
100.0
inferred that 100 % of respondents states that Inference: From the above table and chart it is inferred they purchase different brand when the product is out of stock.
Table No: 4.16 – Alternative Brand Alternative Brand
Frequency
Percentage
Very Unlikely
40
33.3
Un Likely
56
46.7
Fair
24
20.0
Total
1 20
1 00 .0
Chart No: 4.16 – Alternative Brand 41
Inference: From the above table and chart it is inferred that 33.3 % of respondents states that
they buy the alternative brand very unlikely, while 46.7% of respondents’ states that they they buy the alternative brand unlikely, 20% of respondents states that they buy the alternative brand fair.
Table No: 4.17 – Attribution Towards Price Attribution Price
Frequency
Percentage
Good
104
86.7
Average
16
13.3
Total
120
100.0
Chart No: 4.17 – Attribution Towards Price
42
Inference: From the above table and chart it is inferred that 86.7 % of respondents states that
they attribution towards price is good, while 13.3% of respondents’ states that they attribution towards price is average.
Table No: 4.18 – Attribution Towards Quality Attribution Quality
Good Average Total
Frequency
Percentage
112
93.3
8
6.7
120
100.0
Chart No: 4.18 - Attribution Towards Quality
43
Inference: From the above table and chart it is inferred that 93.3 % of respondents states that
they attribution towards quality is good, while 6.7% of respondents’ states that they attribution towards quality is average.
Table No: 4.19 –Attribution Towards Taste Attribution Taste
Frequency
Percentage
Good
80
66.7
Average
40
33.3
Total
120
100.0
44
Table No: 4.19 –Attribution Towards Taste
Inference: From the above table and chart it is inferred that 66.7 % of respondents states that
they attribution towards taste is good, while 33.3% of respondents’ states that they attribution towards taste is average.
Table No: 4.20 –Attribution Towards Packaging Attribution Packaging
Frequency
Percentage
Good
56
46.7
Average
64
53.3
Total
120
100.0
45
Chart No: 4.20 - Attribution Towards Packaging
Inference: From the above table and chart it is inferred that 46.7 % of respondents states that
they attribution towards packaging is good, while 53.3% of respondents’ states that they attribution towards packaging is average.
Table No: 4.21–Attribution Towards Discount Attribution Discount
Frequency
Percentage
Good
40
33.3
Average
80
66.7
Total
120
100.0
46
Chart No: 4.21–AttributionTowards Discount
Inference: From the above table and chart it is inferred that 33.3 % of respondents states that
they attribution towards discount is good, while 66.7% of respondents’ states that they attribution towards discount is average.
Table No: 4.22 – Buying Behaviour Buying Behaviour
Frequency
Percentage
Yes
96
80.0
No
24
20.0
Total
120
100.0
47
Chart No: 4.22 – Buying Behaviour
Inference: From the above table and chart it is inferred that 80 % of respondents states that
their buying behavior is based on brand image price is very important, while 20% of respondents’ states that their buying behavior is not based on brand image.
Table No: 4.23 – Awareness of Chinnis Brand Awareness
Frequency
Percentage
Yes
104
86.7
No
16
13.3
Total
120
100.0
48
Chart No: 4.23 -Awareness of Chinnis Brand
Inference: From the above table and chart it is inferred that 86.7 % of respondents states that
their Aware of chinnis brand, while 13.3% of respondents’ states that their not aware of chinnis based.
Table No: 4.24 – Available of Product Available Of Product
Frequency
Percentage
Always
72
60.0
Sometimes
48
40.0
Total
120
100.0
49
Chart No: 4.24 - Available of Product
Inference: From the above table and chart it is inferred that 60 % of respondents states that
they always get the product, while 40% of respondents’ states that sometime they will get the product.
4.25CHI SQUARE TEST:
NULL HYPOTHESIS: There is no significance difference between Type of shop and
Purchase of various brands. ALTERNATE HYPOTHESIS: There is significance difference between Type of shop and
Purchase of various brands.
Table for Chi Square Test:
50
Particular
Total
Chinnis
Rajas
Rajaram's Nathans
0
0
16
0
16
Kirana Store 8
0
32
0
40
24
24
0
0
48
0
0
0
16
16
32
24
48
16
120
Petty Shop
Store
Brand
Super Market Bakery
Total
Result:
Calculated Value = 215 Table Value =16.919 Degree Of Freedom = 9 Level Of Significance = 5%
Calculated Value > Table Hence Null hypothesis is Rejected Inference:
There is significance difference between Type of shop and Purchase of various brands.
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Table No: 4.26 ONE WAY ANOVA
NULL HYPOTHESIS: There is no significance difference between About the Company
and Customer Trust to the Company. ALTERNATIVE HYPOTHESIS: There is significance difference between About the
Company and Customer Trust to the Company.
Table:4.26
Particulars
Sum of
df
Mean Square
F
Sig.
59.815
1
59.815
35.400
.000
Within Groups
199.385
118
1.690
Total
259.200
119
Squares Between Groups
Result:
Calculated Value = 35.400 Table Value =161.47 Degree Of Freedom 19 Level Of Significance = 5%
Calculated Value < Table
52
Hence Null hypothesis is Accepted Inference: There is no significance difference between About the Company and Customer
Trust to the Company.
5.
Summary Of Findings
5.1 FINDINGS
Cavin Kare has 40% of their customer holding Supermarket.
Most of the respondent states that they Purchase Rajarams’s
Most of respondents states that they came to know about the product through Sales Executive
Most of respondents states that they purchase the product daily.
Most of respondents states that they purchase beverages.
Most of respondents states that they satisfied with the price.
80% of respondents states that they highly satisfied with the quality of the product.
Most of respondents states that they satisfied with the taste of the product.
Most of respondents states that they satisfied with the packaging.
Most of respondents states that they neutral with the discount.
Most of respondents states that they very much trust with the brand. 53
Most of respondents states that they will influence the brand while purchase.
86.7 % of respondents states that they buying the product less than one year.
Most of respondents states that distributor response is good.
Most of respondents states that they purchase different brand when the product is out of stock.
Most of respondents’ states that they buy the other brand unlikely.
Most of respondents states that they attribution towards price is good..
Most of respondents states that they attribution towards quality is good.
Most of respondents states that they attribution towards taste is good.
Most of respondents’ states that they attribution towards packaging is average.
Most of respondents’ states that they attribution towards discount is average.
Most of respondents states that the brand is very important.
Most of respondents states that the design is not important.
Most of respondents’ states that the quality is important.
Most of respondents’ states that the price is Neutral.
Most of respondents states that their buying behavior is based on brand image price is very important.
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Most of respondents states that they aware of Chinnis Brand,
Most of respondents state that they always get the product when it’s needed.
There is no significance difference between About the Company and Customer Trust to the Company.
There is significance difference between Type of shop and Purchase of various brands.
5.2 SUGGESTIONS •
Company should focus on promoting chinni’s particularly in departmental store and kirana shop
•
Company has to advertise in Television to create awareness and improve sales
•
There should be proper distribution of the product which improves the satisfaction level of customers.
•
The Packaging of the product has to be transparent, which helps to attract more customers.
•
The company should focus on the pricing strategies and discount should be given to the customer.
•
The company can conduct special presentation and programs in schools and colleges the awareness of the product.
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5.3CONCLUSION
The main objective of the study is to find out the satisfaction level of the customers which helps in building brand loyalty with reference to CAVIN KARE LTD in CHENNAI. It is found that customer satisfaction level is good. The satisfaction level of customers relating to Cost, Quality, Quantity, packaging were quite good. To be in turn with the changing ties and the rapidly changing technologies CAVIN KARE LTDneeds the right talent with rich ideas and creativity to maintain their leadership position in today’s fast paced global market. This project gives a bird’s eye view of customers’ response and provides some suggestion. Implementation of the suggestion would help the company to retain its presidential status in the industry.
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6. ANNEXURE 6.1 BIBILIOGRAPHY Philip Kotler, Kevin Keller (2009),
Marketing Management (Thirteenth Edition)
Marketing Management, the McGraw-Hill
Company Rajan Saxena (Third Edition)
Research Methodology by Kothari
MAGAZINES: A) OUTLOOK BUSINESS (FEB, 2013) B) BUSINESS STANDARD (JAN, 2013)
WEBLIOGRAPHY www.google.com
www.wikipedia.com www.cavinkare.com
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6.2 QUESTIONNAIRE A STUDY ON BRAND LOYALTY FOR CHINNIS PRODUCT AT CAVIN KARE LTD Personal Detail: Name of the shop: Area: 1. What kind of store do you own? a. Petty shop b. Kirana Store c. Super market d. Bakery 2. Which brand would you prefer to buy packed food product like peanut? a. Chinni’s b. Rajas c. Rajarams d. Nathans 3. How did you come to know about this company a. Sales Executive b. Print Media c. Online Advertising 58
d. Other 4. How often do you purchase from this company? a. Daily b. Weekly c. Monthly d. Rarely e. Fortnightly 5. What type of product do you purchase from this company? a. Pickles b. Beverages c. Snacks d. Dairy Product
6. Please mark your level of satisfaction in accordance to factor when you purchase from your preferred branded company? Factor
Highly
Satisfied
Neutral
Dissatisfied
Satisfied
Price
Quality
Taste
Packaging
Discount
7. How much you trust the brand? a. Very much b. Neutral c. Not at all 8. Does brand name influence your decision making in purchasing? a. Yes b. No 9. How long you have been purchasing this brand? a. Less than one year b. 1-2 years c. 2-5 years 59
d. More than 5 years 10. How do you feel about distributor response? a. Good b. Moderate c. Poor 11. What would you do if the brand of pickle/peanut you wish to purchase is out of stock? a. Purchase different brand b. Delay purchase 12. Will you switch to other alternative brand if they often a similar but cheaper product? a. Very unlikely b. Unlikely c. Fair d. Likely e. Very likely 13. Make your opinion regarding various attribution of this brand?
Attribution
Price
Quality
Taste
Packaging
Discount
Good
Average
14. How would you rank our brand?
Factor
Brand Name
Design
Value
Quality
Price
Rank
15. Do you think the image of the brand can influence the buying behavior? a. Yes 60
Poor
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