Brand and It’s effect on Consumer Behaviour.
Author: Ashwini Shinde
MMS/B Roll. No.116
Business Research Methods
Kohinoor Business School
Literature Review
1. Sustainability Brand and its Role:
Anca Cristina Stanciu Adina Burghelea (2020) mentioned that brands are powerful and powerful tools for change consumers around the world. Companies with successful brands and legions of loyal consumers have the power to change consumer lifestyles and behaviours. Therefore, eco-branding should be considered as an element of a sustainable marketing strategy, the implementation of which requires changes in the way companies are managed. So, the hardest task for marketing and brand managers is to make consumers interested in your product. The studies have shown that sustainable brand performance involves developing a brand/product or service with sustainability criteria in mind. This means that social and environmental compatibility standards must be adhered to throughout the product life cycle.
2. Aligning the Brand Identity and Brand Image After Rebranding:
Catalin Mihail BARBU (2016) says that Brand identity and brand image are two important concepts for any company. The company can implement the rebranding for various purposes e.g., increase in sales, goodwill, business growth. Rebranding is not easy for any company. They try to create new image of their company. The success of rebranding lies with the Brand identity and Brand image. Marketing Communication, Product traits and Internal brand management influences brand image and company identity positively. Whereas Past consumers’ experience and Attitude affects brand image and brand identity negatively. The companies have to consider consumer experience for their rebranding process.
3. Branding In Sport:
Barbu Mihai Constantin Răzvan And Popescu Marius Cătălin (2018) state that sport marking has prompted the improvement of the brand from a nearby scale to a really worldwide scale lately, media and innovation being quite possibly of the main consider this turn of events. The study’s primary objective is to establish a connection between athlete and brand image. In modern times, branding through sport sector becomes new mode to communicate with the people. A personal brand not only focused on monetary benefits, but also to developing unlimited connections through branding. Social Media through personal branding can achieve transparency in sport sector, connecting athlete to his fans. The personal brand of an athlete contains various elements like emotions that they want to share with their fans, sharing their passions. Sport branding is innovative and ever-changing field.
4. Impact of Branding on Consumer Behaviour:
According to Thangamani (2019) Liberalization, globalization and privatization policies affected all over demographic trends, lifestyle and culture of the people in India by various brands and their impacts. Customer behaviour is very important aspect for the brands. The research paper’s primary goal is to examine the factors that influence consumer behaviour. In terms of both internal and external influences, brands are influenced by a variety of factors. Outside impacts incorporate societies, subcultures, family designs, and gatherings that significantly affect the person. Inner impacts incorporate individual contemplations and sentiments, including insight, self-idea, way of life, inspiration, feeling, perspectives and aims. Because of the constantly changing market conditions brand management is very crucial.
5. Brand Attachment on Service Loyalty in Banking Sector:
Mohammad Javad Taghipourian & Mahsa Mashayekh Bakhsh (2016) mentioned that the aim of the study is to examine the effects of brand attachment on service loyalty to the services provided by financial sector. Various strategies are used for attracting consumers leads increasing in competition in market. Hence, many companies try to improving their loyalty of their current customers. The fact is that the customers’ expectations are constantly changing and banks are trying to satisfy their needs. Due to this, banks change their focused on satisfying customers by creating loyalty through branding. Brand attachment is an extensive emotional connection between the consumer and company. Strong connections can be leads to positive results in term of loyalty.
6. The Brand Effect – Living the Brand in Negotiations:
Anne Maria Stefani (2017) suggested that Branding in the industrial sector has only lately been recognised by B2B marketing research as a viable method of establishing a connection with the intended business client. Furthermore, these studies have demonstrated that emphasising brand values results in a stronger emotional bond between the client and the brand. A precise branding strategy is essential, especially when the client may directly experience the brand as part of the brand-customer interaction. These clear connections between the consumer and the brand can happen in both B2C and B2B transactions.
Recent studies may have confirmed the relationship between the direct engagement with the salesperson and the perception of the brand experience. The brand humanization strategy was also used by researchers in a service scenario.
7. CSR Influence on Brand Loyalty in Banking: The Role of Brand Credibility and Brand Identification
According to Mobin Fatma & Imran Khan (2023), this study seeks to understand the key precursors of consumer brand loyalty by examining possible CSR indicators, i.e., economy, Indian banking sector Environmental and ethical indicators. Furthermore, previous studies have not assumed this role Mediating Factors of the Relationship Between Brand Credibility and Brand Identity Corporate social responsibility and brand loyalty. The study recommends testing research models taking into account the impact The Effect of Corporate Social Responsibility on Brand Loyalty Through the Mediating Role of Brand Identity and Brand Credibility. This study aims to understand the relationship between consumer perception of CSR and brand loyalty in the banking business.
8. Corporate Social Responsibility and Brand Advocacy among Consumers:
Many research literature reports found a positive relationship between CSR and positive word of mouth. Perceive corporate social responsibility has a direct and indirect impact on consumers’ willingness to actively express themselves. CSR encourages word of mouth and is a result of intrinsic motivation for companies to engage. This has another significant impact on brand representation in CSR activities. It was also found that consumers’ perceived beliefs about CSR activities have a positive impact regarding behaviour in brand advertising. As a result, CSR activities boost consumer ratings firm, leading to positive relational outcomes.
9. Brand Awareness and Success In The Market:
Maia Seturi (2017) state that in the modern environment, product is considered the most important element in marketing theory and practice. Branding plays an important role in the commercial success of a product in the market. The use of branding helps companies draw the attention of consumers to their products and gain a strong foothold in the market. One of the hottest topics in marketing theory and practice is the issue of dominant brands. The key to a brand’s success is to create its positive image and ensure its visibility and popularity. Brand image has a significant impact on consumers’ product purchase decisions. The higher the popularity of a brand, the higher the acceptance of the brand by consumers. When a consumer is satisfied with the consumption and use of a particular brand, he gradually becomes a loyal buyer. Therefore, achieving and maintaining positive results in brand building is directly related to the company’s unremitting efforts in this direction.
10. Brand Experience in Banking Industry: Direct and Indirect Relationship to Loyalty:
Nuri WULANDARI (2015) says that in banking industry the competition for customers services has always been excellence in term of quality. There is indirect relationship between brand experience and loyalty is hypothesized in the study. Also, the study found out that there is direct relationship between brand experience and brand loyalty. It suggested that brand experience creates satisfaction and its further results in their commitment to the bank. The findings of this study have at least three consequences for business practises in the banking sector. According to the study, brand experience and loyalty have direct, significant, and favourable links. This is a significant conclusion since it suggests that efforts to develop experiences will directly affect bank clients’ levels of customer loyalty.
Conclusion:
The success of the branding can be derived by taking proper actions such as improvement in product, new positioning and straightening brand management. Branding plays a vital role in shaping consumer behaviour. It creates a perception of quality, reliability, and trust among consumers towards a particular product or service. A strong brand identity helps a consumer in identifying a product and differentiating it from its competitors. It builds a sense of loyalty and trust among consumers, making it easier for them to choose a particular brand over others.
Branding also affects the purchasing behaviour of consumers. Consumers are willing to pay a higher price for branded products, as they perceive them to be of higher quality. Consumers are more likely to purchase a product based on its brand image and reputation, rather than just its functionality or features. A strong brand identity can also increase the emotional connection that consumers have towards a product, leading to repeat purchases and brand loyalty.
Moreover, branding influences the decision-making process of consumers. The brand image and reputation contribute to the consumer’s perception of a product, which in turn affects their decision to purchase or not. Consumers are more likely to trust a brand that they are familiar with, and this can lead to repeat business and advocacy. A positive brand reputation can also assist in attracting new customers and expanding the reach of a brand.
In conclusion, branding has a significant impact on consumer behaviour. It contributes to the perception of a product and helps in building brand loyalty and trust among consumers. A strong brand identity can also assist in the decision-making process by influencing consumer’s perceptions and preferences towards a particular brand. In today’s competitive market, it’s vital for businesses to invest in their brand identity to create a loyal consumer base and stand out from their competitors.
References:
Anca Cristina Stanciu & Adina Burghelea (CocoÈ™), 2020. “Sustainability Brand and its Role,” Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 781-784, August.
Anne Maria Stefani, 2017. “The Brand Effect – Living the Brand in Negotiations,” Journal of Emerging Trends in Marketing and Management, The Bucharest University of Economic Studies, vol. 1(1), pages 210-215, October.
Barbu Mihai Constantin Razvan & Popescu Marius Catalin, 2018. “Branding In Sport,” Annals – Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 35-41, October.
Catalin Mihail BARBU, 2016. “Aligning The Brand Identity and Brand Image After Rebranding,” Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(2), pages 180-187, November.
Maia Seturi, 2017. “Brand Awareness and Success In The Market,” Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 11(1), pages 424-432.
Mobin Fatma & Imran Khan, 2023. “CSR Influence on Brand Loyalty in Banking: The Role of Brand Credibility and Brand Identification,” Sustainability, MDPI, vol. 15(1), pages 1-14, January.
Mobin Fatma & Imran Khan, 2023. “Corporate Social Responsibility and Brand Advocacy among Consumers: The Mediating Role of Brand Trust,” Sustainability, MDPI, vol. 15(3), pages 1-10, February.
Mohammad Javad Taghipourian & Mahsa Mashayekh Bakhsh, 2016. “Brand Attachment on Service Loyalty in Banking Sector,” International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 8(5), pages 146-156, October.
Nuri WULANDARI, 2016. “Brand Experience in Banking Industry: Direct and Indirect Relationship to Loyalty,” Expert Journal of Marketing, Sprint Investify, vol. 4(1), pages 1-9.
Thangamani, 2019. “Impact of Branding on Consumer Behaviour,” Shanlax International Journal of Management, Shanlax Journals, vol. 6(3), pages 74-79, January.