The Theoretical Research Proposal Brand Management
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 2618 words||✅ Published: 25th Apr 2017|
In the corporate world firms recognized the strategic role of brand extensions. Most of the firms capitalize on the brand equity and brand extensions. Parent brand helps in brand extensions. Brand extension involves the use of a brand name established in one product class to enter another product class. Brand extension plays major role in bringing awareness of parental brand and leads to rise in the sales of the product. The worth of brand extension from the parental brand has been extensively accepted in all the markets. The brand extension is an effective tool which will enhance the brand image of the parental brand. Brand extension is the best way of capitalising on a brand to sell new products or services and acquires new customers to the brand.
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This research proposal is based on the conceptual-theoretical Research method and the final research will attempt to test the hypotheses that have been derived from the review of literature. The dissertation will be an attempt to investigate the association of parent brand in the brand extensions. Brand its perceptions, value and role there are many questions arises when we have a look at the market place. These questions are not only important from consumer’s point of view but it also has a keen importance from marketer point of view. All the manufacturing and service organisations have been found to struggle in achieving the first priority of their consumers in term of their selection criteria to purchases. Understanding brands and brand extension are challenging an activity which enable the organisations to create effective marketing strategy in targeting the existing and potential consumers and leads to achieve the profit margins and other competitive advantages in the market place.
The idea of marketers behind brand extension is to satisfy the customers by taking an upper hand in the competitive world. There are some companies which extend their brands within the same category but of different flavours. All the marketers extend their brands in the same line updating the trends in terms of tastes and preferences of the customers .Brand extensions mostly targets a particular market segment considering the needs and tastes of the consumers. But sometimes to target the market the products may change based on psychological or geographical factors (Kotler, 2006). Therefore segmentation should also consider the type of product before choosing the target market (Diamantopoulos. A et al, 2005) .A “good” brand extension strategy is one where the brand name aids the extension, while a “very good” brand extension also enhances the brand name (Aaker, 1991). The successful brand extensions are initially influenced by the parent brand .To build strong brands, companies have to pursue the uniqueness and also they have to be posses different from the competing brands, it will make easier to extend into the other categories (Keller, 1998).
When brand extensions are made Parent brand are associated. Consumer perceptions are effected when the parent brand is associated with the brand extensions “the more similar the extension is to a parent brand, the more likely are consumers to infer the parent brand characteristics in the extension” (Bhat and Reddy,2001, p. 13). Parent brand associations can influence the consumer buying behaviour .Consumer will accept when the extensions fits with the parent brand. These will transform the positive effect on the brand associations and the brand extensions. Good fit is considered to be important for positive consumer evaluations (i.e. enhancement) of the core brand (Aaker and Keller, 1990; Keller and Aaker, 1992; Sunde and Brodie, 1993; Bottomley and Doyle, 1996). In brand extensions strategy brand quality plays an important role. Dawar and Andersen (1994) showed that undertaking brand extensions in a consistent direction also increased purchase likelihood. (Seltene .M and Brunel,2008) In context brand extensions may exhibit poor levels; it may create damage the parental brand image. Brand personality is the key component of the brand image.
Mainly brand extensions strategy done in two forms: vertical and horizontal. In a horizontal brand extensions , for the new product existing brand name is applied .It can be either a related product class or it could category which is new to the firm. (Keller and Aaker, 1992; Sullivan, 1990).In vertical brand extensions, there are two possible ways of extensions: step up and step down. When the brand extension is introduced at a lower price and in cheaper price than the parental brand (step -down) or at higher price than the parent brand (step – up). In vertical extensions a descriptor is usually introduced along with the parent brand, to resemble the link between the parent brand and brand extension. By the commitment – trust theory in relationship marketing, the primary variables for maintaining successful relationships between the customer and the brand is trust and commitment. Product evaluation can be influenced by the consumer trust towards the brand. (Chen.K and Liu.C , 2004). Erdem and Swait (2004) observed that brand credibility (trustworthiness and expertise) increases the probability that a brand will be considered and selected, because the consumers’ trust in particular exerts a great influence on purchase intent. Consumer transfer parent brand trust to the brand extensions. However it can be perceived that the brand product as being without risk, there will be positive relationship exists between the parent and the acceptance of the brand extensions. Consumer perceptions on the parent brand can impact the feelings towards the brand categories extensions and there is better transfer of perception toward extension product categories with stronger rather than weaker category-dominant brand affect.( Chen.K and Liu.C 2004).
Most of the brand extensions are based on the association of the parent brand .By the strong associations between the parent brand and brand extension will add a positive point from the competing brands (Keller, 1998). Meyvis and Janiszewski (2004) also proposed evaluating the success of brand extension for broad and narrow brands from the perspectives of accessibility, diagnosticity and similarity, where accessibility is the degree to which a piece of information can be retrieved from memory for input into a judgment and diagnosticity is the degree to which that piece of information is relevant to a given determination. (Wu.C and Yen.C.Y,2007)When different brand breadths have equally desirable associations, the benefits associated with the broad brand are more accessible than those associated with the narrow brand; when brands with different breadths have equally desirable and accessible beneficial associations, consumers prefer the products. (Thorbjornen. H,2005),
NEED AND JUSTIFICATION OF STUDY
Numerous marketing concepts emerge in the consumer market and whereas the brand extension play important role in the market place. Effective brand extension will improve the sales. There is a need for a greater understanding of the brand extension with the international market and the factors responsible for success or failure of the brand. In particular, there is a need to identify the role of brand extension within the consumer market. It will help the companies who are trying to extend their brands.
To find how parental brand is associated in the brand extensions
To find the importance of the parental brand in brand extensions
To find the impact of the brand extensions on brand image
Why the brand extensions matters to the firms?
To what extent the parent brand is associated in brand extensions?
How the brand extensions influences on consumer?
DEFENITION OF TERMS
BRAND EXTENSION : A new brand in the name of existing brand.
SUB BRAND : A new combined with the existing brand.
PARENT BRAND : A pre-existing brand giving rise to sub brand.
LIMITATIONS OF THE RESEARCH
It will involve time taking of brand managers of different multi-national organisations who are busy in with their responsibilities. It also requires consumption of valuable time business man and even the customers. It also involves cost factor as it wastes the valuable time of managers and the marketer’s .Getting time to fill the questionnaires and obtaining the feedback from different business man is also difficult and sometimes can lead to the decrease the accuracy of primary data collected. Time constraints and hectic schedule at work are only limiting factor for the primary research. It may sometimes create problems in collecting qualitative answers and feedback
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Formulating and clarifying the research topic:
It the important part of the Research. Researching a topic uses various techniques to generate and refining search ideas. It’s important that there should be a use of logical thinking and critical thinking techniques. The ideas which are generated that should be easily integrated consequently such as working up and tapering down .Research should be purely based on literature review. Research is depends on theory. Organise the ideas while the writing a research. Research text should be very clear to the reader that what u want to do, why you want to do, what you are trying to achieve and how to plan and achieve it. (Saunders.M et al 2007)
Literature review to understand and a vision of the previous research and its objectives. Review will helps to get an outline of a research, key points of the research and that can be presented in a logical way .It will create a new insight points. It will create a research report. It will help in the tapering down on the research question s. While planning a literature review Objectives should be clearly defined, parameters of research should be explained, create the key words and search words. These leads to a relevance tree .While evaluating the literature objective and research question should be define clearly. (Saunders.M et al 2007)
Ethics are essential aspect for a research. Practicability should be accepted as an important aims how to undertake a research and what to choose a research. It refers to the suitability to the right of those, who became subject of the research or effected by the research. Ethical research should be considering the outset of the research. It concerns in all the stages of the research such as collecting the data, data accessing or analyzing the data .it associated with the power relationship between the researcher and those who accessed the data (Saunders.M et al 2007)
Sampling techniques are depends upon on the possibility and sensibility of the data collection to answer the research questions and its objectives. Characteristics of a sample should be estimated statically from a provided sample. It does not require any generalisations. It should be make use of non probability techniques alternatively. Probability sampling is time consuming when compared to non probability techniques. In probability techniques it requires sampling frame. When it not possible to construct the sampling technique we can go for a non probability technique. Non probability techniques also provide the opportunity to select the sample. (Saunders et al 2007)
Using the secondary data and primary data:
Data that have already been collected for some other purpose, perhaps processed and sub sequent stored, are termed as secondary data (Saunders 2007). These data can be used in many ways such as to provide set of a data, to provide the time series data, to provide the research finding. It may require detective work for a secondary data it may involve in sort of data is available. Research questions and objectives should be access to secondary data to make sure the sustainability of the data .secondary data should be evaluated to precise sustainability. Measurement bias and sustainability should be included when the data is evaluated. (Saunders et al 2007)
Primary data collection basically the data collected by the researcher itself. In the primary data observation play an important role in collection of data. Participant observation and structured observations are the two types of approaches in observation techniques. Adopt a particular method to collect the data. Identify the reliability and threats by the two types of techniques. (Saunders et al 2007)
Secondary data Sources
Secondary data is easy to access and its cheap .it plays a vital role in a research process. It can be use backdrop information. Internet source can be accessed to the different sites can be useful to collect the secondary data. Researcher can subscribe to online magazine can be used as secondary information. Journals of marketing , Journal on the customer marketing relationship , Mintel market Intelligence Published by the Mintel and Journals by the Emerald can explore to collect the data .Data can be collected from the Reports on customer marketing relationship, Loyalty Schemes . To explore more there are basic books to require to follow the research work and it consistency and the foundation of supportive theories and concepts such as Customer Relationship Management, Strategic Market relationships. (Saunders.M et al 2007)
Researcher data will be in raw form. These data have to be comprised and analysed .The data will be confined by presentations, summary. Data confine of presentation, summary and analyses. Analyzing the data will conducted by the numerical and standardised data. Percentage, ratio or quality of respondents against the question can find out by researcher through the quantitative research. Observational methods, survey methods and experimental methods majorly there are three techniques followed in the quantitative research to collect the data. Survey methods can be used by the researcher. (Saunders.M et al 2007)
Qualitative research consists of non numerical data. Data consists of both written and spoken words by different persons. In generally involves in summarising, categorising and structuring the data. It includes the interviews, observation and document summaries Researcher have to analyze and relate to either a deductively or an inductively based approach. (Saunders et al 2007)
Techniques in data analyzing
A set of questionnaires is given to the managers and to the Customers. By asking those to respond to the same set of the questionnaires .It can be used as a survey strategy. The questionnaires will be influenced by the research question and its objectives. The questionnaires must meet the objectives and research questions the responsive rate depends upon on the questionnaires prepared. It should meet the reliability and validity of the data .The collected data speaks about the attributes, opinions and behaviours. The final results can be discussed in the other section. By using the different data techniques to understand the comparison with sampling frame to the responses to the questionnaires that how customer is acting towards to the loyalty schemes. . (Saunders et al 2007)
A detailed research plan with time scale plan
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