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: 08VWCM6057 TITLE: A Study on the Brand Loyalty of the Consumers towards FMCG Products Statement of the Problem
Brand loyalty of Products in the case of FMCG Industry is quite volatile in nature. Consumers shift from One Brand to another due to the various reasons like Price, Product Benefits, Influence of advertising etc. The research will study the characteristics of Brand Loyal Consumers and the Shifters.
Loyalty A second dimension, however, is whether the customer is committed to the brand. Philip Kotler, again, defines four patterns of behaviour: 1. Hardcore Loyals - who buy the brand all the time. 2. Softcore Loyals - loyal to two or three brands. 3. Shifting Loyalty - moving from one brand to another. 4. Switchers - with no loyalty (possibly 'deal-prone', constantly looking for bargains or 'vanity prone', looking for something different). Factors Influencing Brand Loyalty It has been suggested that loyalty includes some degree of pre-dispositional commitment toward a brand. Brand loyalty is viewed as multidimensional construct. It is determined by several distinct psychological processes and it entails multivariate measurements. Customers' Perceived value, Brand trust, Customers satisfaction, Repeat purchase behavior and Commitment are found to be the key influencing factors of brand loyalty. Commitment and Repeated purchase behavior are considered as necessary conditions for brand loyalty followed by Perceived value, satisfaction and brand trust. Frederick Reichheld, one of the most influential writers on brand loyalty. Sources:
1. www.wikipedia.com 2. www.scribd.com 3. www.business-standard.com
4. www.brandchannel.com 5. Kothari, C.R, Research Methodology, Revised Second Edition , New Age International, Publisher, New Delhi, 2006 6. Kotler Philip, Marketing Management, Eleventh Edition. Pearson Education 7. Indian Journal of Marketing, Volume XXXIX, Number 9, September 2009 8. Mathur, U.C, Product and Brand Management, First Edition, Excel Books
9. Journal of Marketing and Communication, Volume 3, Issue 2 10. Havaldar, K. Krishna, Industrial Marketing, 4th Edition, Tata Mc-Graw Hill
Research Methodology
1. Constructive Research 2. Collection of Primary and secondary data. 3. Source of primary and secondary data 4. Collect the data by simple random survey 5. Sampling Unit- 100 Samples
2. The Sample Size taken is small due to constraints in time. 3. The Sample Size taken is not very large due to constraints in Cost. 4. The Study is limited due to lack of sources and communication