A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory , ProQuest, U.S.A., EBSCO Publishing, U.S.A., Cabells Directories of Publishing Opportunities, U.S.A. as well as inOpen J-Gage, India [link of the same is duly available at Inflibnet of University Grants Commission (U.G.C.)] Registered & Listed at: Index Copernicus Publishers Panel, Poland Circulated all over the world & Google has verified that scholars of more than 1388 Cities in 138 countries/territories are visiting our journal on regular basis. round !loor" Buildin# $o% &'(&-)-&" Devi Bhawan Ba*ar" JAAD+RI , &-. ''-" /a0unana#ar" +aryana" I$DIA www%i1rc0%or#%in VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in ii CONTENTS CONTENTS CONTENTS CONTENTS Sr. No. TITLE & NAME OF THE AUTHOR (S) Page No. 1% INTANGIBLE VALUE ACCUMULATION IN CULTURAL AND CREATIVE INDUSTRIES DR. SHULIEN CHANG 1 2% STRATEGIES IN MANAGING BARRIERS TO CUSTOMER SATISFACTION DR. ANTHONY .A. IJEWERE & EDITH .O.ODIA 8 3% A STUDY ON CONSUMER ATTITUDE TOWARDS DEPARTMENTAL STORES IN COIMBATORE CITY, TAMILNADU DR. J. GOPU & T. GIRIJA 15 4% FACTORS DETERMINING CONSUMER PREFERENCES FOR BRAND ETENSIONS DR. NANJUNDARAJ PREM ANAND 2! 5% ENFORCING THE INTERNATIONAL FINANCIAL REPORTING STANDARDS WORLDWIDE ENAHORO, JOHN & NDAYIZEYE GERVAIS 2" #% ASSESSING THE IMPACT OF THE GLOBAL FINANCIAL CRISIS ON AFRICAN MICROFINANCE INSTITUTION PERFORMANCE$ EMPIRICAL EVIDENCE FROM EAST AFRICA TILAHUN AEMIRO TEHULU 32 "% SOME HIDDEN TRUTHS ABOUT MANAGEMENT OF WOR%PLACE ENVIRONMENT MUHAMMAD RIZWAN, SYED USMAN ALI GILLANI, DIL JAN KHAN, FAWAD SABOOR & MUHAMMAD USMAN 3" 8% INVESTORS& PERCEPTION IN MUTUAL FUND INVESTMENTS 'A STUDY IN SELECTED MUTUAL FUND ORGANI(ATIONS IN VISA%HAPATNAM) B. MURALI KRISHNA, K. RAKESH & P.V.S. SIVA KUMAR 43 *% GREEN FINANCIAL INITIATIVES + CURRENT TRENDS AND FUTUTURE OPPORTUNITIES SWETA KUMARI, GAGANDEEP NAGRA, DR. R .GOPAL & DR. RENU VERMA 48 1!% A STUDY ON EFFECT OF DEPRECIATION METHODS ON NET PROFIT OF BUSINESSES DR. SURENDRA GOLE & ABHAY INGLE 52 11% STRATEGIC HUMAN RESOURCE MANAGEMENT FOR HIGH PERFORMANCE ORGANI(ATIONS AJIT KUMAR KAR 54 12% THE MAR%ETING PROBLEMS OF CARDAMOM GROWERS IN TAMIL NADU AND %ERALA , A COMPARATIVE STUDY P. SELVAMANI & DR. M. SYED ZAFAR #! 13% THE EMPIRICAL RELATIONSHIP BETWEEN TRADING VOLUME, RETURNS AND VOLATILITY DR. BAL KRISHAN & DR. REKHA GUPTA #* 14% IMPACT OF EMPLOYEE SATISFACTION AND UNION + MANAGEMENT RELATION ON ENHANCED CUSTOMER SATISFACTION, REGRESSION ANALYSIS -A STUDY OF ANDHRA PRADESH STATE ROAD TRANSPORT CORPORATION 'A.P.S.R.T.C)/ A. R. VIJAYA CHANDRAN & DR. V. M. PRASAD "4 15% MAR%ETING STRATEGIES IN HEALTHCARE DR. SOMU.G "# 1#% MANAGEMENT OF TRANSLATION EPOSURE$ A COMPARATIVE ANALYSIS OF MNCS IN INDIA DR. MANISHA GOEL 8! 1"% DIFFERENT RELATIONSHIPS BETWEEN PERCEPTIONS OF DEVELOPMENTAL PERFORMANCE APPRAISAL AND WOR% PERFORMANCE DR. VENKATESH. J, VIVEKANANDAN. K & BALAJI. D 8" 18% A COMPARATIVE ASSESSMENT OF RURAL AND URBAN CONSUMERS& ATTITUDE TOWARDS THE PRACTICE OF MAR%ETING CONCEPTS BY MAR%ETERS DR. DEBASIS BHATTACHARYA & DIPAK SAHA *1 1*% RELEVANCE OF TPM IN INDIAN INDUSTRIES$ LITERATURE REVIEW DR. A. K. GUPTA & NARENDER *" 2!% CAPITAL STRUCTURE ANALYSIS IN TATA STEEL LIMITED DR. ASHA SHARMA 1!! 21% AN ANALYTICAL STUDY ON EFFECTS OF CORPORATE GOVERNANCE DISCLOSURE TO FINANCIAL PERFORMANCE PAYAL THAKAR, JAIMIN H. TRIVEDI & CHHAYA PRAJAPATI 1!8 22% A STUDY OF IMPACT OF WOR%ING CAPITAL MANAGEMENT ON FIRM&S PERFORMANCE$ EVIDENCE FROM CEMENT INDUSTRY IN INDIA FOR THE PERIOD 2!!",2!11 ZOHRA ZABEEN SABUNWALA 115 23% INDUSTRIALISATION IN HIMACHAL PRADESH$ PROBLEMS, PROSPECTS AND ALTERNATIVE STRATEGIES 'A CASE STUDY OF %ANGRA DISTRICT) CHAMAN LAL 121 24% INTERNAL BRANDING AS A MANAGEMENT STRATEGY$ A CASE OF ORGANI(ED RETAIL SECTOR GIRISH MUDE, SWAPNIL UNDALE & VRUSHALI DAIGAVHANE 12# 25% FINANCIAL REPORTING FRAMEWOR% FOR CARBON CREDIT ACCOUNTING TULIKA SOOD 13! 2#% A STUDY OF INFLUENCES ON CONSUMER PRE PURCHASE ATTITUDE ANILKUMAR. N 133 2"% CONSUMPTION PATTERN OF BUYERS OF BA%ERY PRODUCTS$ A STUDY CONDUCTED IN %ERALA NEMAT SHEEREEN S 141 28% GLOBAL FINANCIAL CRISIS , PERSPECTIVE 2!!" TO DATE & BEYOND 'LEADERSHIP OF INDIA&S FINANCIAL SYSTEM) AMIT GUPTA 14# 2*% PERFORMANCE APPRAISAL OF INDIAN BAN%ING SECTOR$ A COMPARATIVE STUDY OF SELECTED PUBLIC AND PRIVATE SECTOR BAN%S SAHILA CHAUDHRY 155 3!% A STUDY ON INTERACTIVE MEDIA&S INFLUENCE ON PURCHASE DECISION OF YOUTH JATIN PANDEY 1#5 RE0UEST FOR FEEDBAC% 1"! VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in iii CHIEF PATRON CHIEF PATRON CHIEF PATRON CHIEF PATRON PROF. %. %. AGGARWAL )hancellor" 2in#aya3s 4niversity" Delhi !ounder 5ice-)hancellor" uruobindSin#hIndraprastha4niversity" Delhi 67% Pro 5ice-)hancellor" uruJa0bheshwar4niversity" +isar
PATRON PATRON PATRON PATRON SH. RAM BHAJAN AGGARWAL 67%State Minister for +o0e 8 9ouris0" overn0ent of +aryana 5ice-President" Dadri 6ducation Society" )har:hi Dadri President" )hinar Synte7 2td% ;9e7tile Mills<" Bhiwani
CO CO CO CO- -- -ORDINATOR ORDINATOR ORDINATOR ORDINATOR DR. SAMBHAV GARG !aculty" M% M% Institute of Mana#e0ent" MaharishiMar:andeshwar4niversity" Mullana" A0bala" +aryana
ADVISORS ADVISORS ADVISORS ADVISORS DR. PRIYA RANJAN TRIVEDI )hancellor" 9he lobal Open 4niversity" $a#aland PROF. M. S. SENAM RAJU Director A% )% D%" School of Mana#e0ent Studies" I%%$%O%4%" $ew Delhi PROF. M. N. SHARMA )hair0an" M%B%A%" +aryana)olle#e of 9echnolo#y 8 Mana#e0ent" =aithal PROF. S. L. MAHANDRU Principal ;Retd%<" Mahara1aA#rasen)olle#e" Ja#adhri
EDITOR EDITOR EDITOR EDITOR PROF. R. %. SHARMA Professor" Bharti 5idyapeeth 4niversity Institute of Mana#e0ent 8 Research" $ew Delhi
CO CO CO CO- -- -EDITOR EDITOR EDITOR EDITOR DR. BHAVET !aculty" M% M% Institute of Mana#e0ent" MaharishiMar:andeshwar4niversity" Mullana" A0bala" +aryana
EDITORIAL ADVISORY BOARD EDITORIAL ADVISORY BOARD EDITORIAL ADVISORY BOARD EDITORIAL ADVISORY BOARD DR. RAJESH MODI !aculty" /anbuIndustrial)olle#e" =in#do0 of Saudi Arabia PROF. SANJIV MITTAL 4niversitySchool of Mana#e0ent Studies" uruobindSin#hI% P% 4niversity" Delhi PROF. ANIL %. SAINI )hairperson ;)R)<" uruobindSin#hI% P% 4niversity" Delhi
VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in iv DR. SAMBHAVNA !aculty" I%I%9%M%" Delhi DR. MOHENDER %UMAR GUPTA Associate Professor" P%J%2%$%overn0ent)olle#e" !aridabad DR. SHIVA%UMAR DEENE Asst% Professor" Dept% of )o00erce" School of Business Studies" )entral 4niversity of =arnata:a" ulbar#a MOHITA !aculty" /a0una Institute of 6n#ineerin# 8 9echnolo#y" 5illa#e adholi" P% O% adhola" /a0unana#ar
ASSOCIATE EDITORS ASSOCIATE EDITORS ASSOCIATE EDITORS ASSOCIATE EDITORS PROF. NAWAB ALI %HAN Depart0ent of )o00erce" Ali#arh Musli0 4niversity" Ali#arh" 4%P% PROF. ABHAY BANSAL +ead" Depart0ent of Infor0ation 9echnolo#y" A0ity School of 6n#ineerin# 8 9echnolo#y" A0ity 4niversity" $oida PROF. V. SELVAM SS2" 5I9 4niversity" 5ellore DR. N. SUNDARAM Professor" 5I94niversity" 5ellore DR. PARDEEP AHLAWAT Reader" Institute of Mana#e0ent Studies 8 Research" MaharshiDayanand4niversity" Rohta: S. TABASSUM SULTANA Associate Professor" Depart0ent of Business Mana#e0ent" Matrusri Institute of P%% Studies" +yderabad
LEGAL ADVISORS LEGAL ADVISORS LEGAL ADVISORS LEGAL ADVISORS JITENDER S. CHAHAL Advocate" Pun1ab 8 +aryana +i#h )ourt" )handi#arh 4%9% CHANDER BHUSHAN SHARMA Advocate 8 )onsultant" District )ourts" /a0unana#ar at Ja#adhri
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PLEASE USE THE FOLLOWING FOR STYLE AND PUNCTUATION IN REFERENCES$ BOO%S Bowerso7" Donald J%" )loss" David J%" ;&JJF<" K2o#istical Mana#e0ent%K 9ata Mcraw" +ill" $ew Delhi% +un:er" +%2% and A%J% >ri#ht ;&JF-<" K!actors of Industrial 2ocation in OhioK Ohio State 4niversity" $i#eria% CONTRIBUTIONS TO BOO%S Shar0a 9%" =watra" % ;E''H< 6ffectiveness of Social Advertisin#B A Study of Selected )a0pai#ns" )orporate Social Responsibility" 6dited by David )rowther 8 $icholas )apaldi" Ash#ate Research )o0panion to )orporate Social Responsibility" )hapter &." pp EHI--'-% JOURNAL AND OTHER ARTICLES Sche0enner" R%>%" +uber" J%)% and )oo:" R%2% ;&JHI<" Keo#raphic Differences and the 2ocation of $ew Manufacturin# !acilities"K Journal of 4rban 6cono0ics" 5ol% E&" $o% &" pp% H--&'(% CONFERENCE PAPERS ar#" Sa0bhav ;E'&&<B KBusiness 6thicsK Paper presented at the Annual International )onference for the All India Mana#e0ent Association" $ew Delhi" India" &J,EE June% UNPUBLISHED DISSERTATIONS AND THESES =u0ar S% ;E'&&<B K)usto0er 5alueB A )o0parative Study of Rural and 4rban )usto0ers"K 9hesis" =uru:shetra 4niversity" =uru:shetra% ONLINE RESOURCES Always indicate the date that the source was accessed" as online resources are fre?uently updated or re0oved% WEBSITE ar#" Bhavet ;E'&&<B 9owards a $ew $atural as Policy" Political >ee:ly" 5iewed on January '&" E'&E httpBAAepw%inAuserAviewabstract%1sp VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in &EF INTERNAL BRANDING AS A MANAGEMENT STRATEGY$ A CASE OF ORGANI(ED RETAIL SECTOR
GIRISH MUDE ASST. PROFESSOR MIT SCHOOL OF MANAGEMENT PUNE
SWAPNIL UNDALE ASST. PROFESSOR MIT SCHOOL OF MANAGEMENT PUNE
VRUSHALI DAIGAVHANE STUDENT ARIHANT INSTITUTE OF BUSINESS MANAGEMENT PUNE
INTRODUCTION s the concept of lar#e retail stores #ains #round in India" the practice and concept of internal brandin# is li:ely to #row e7ponentially% In the western countries internal brandin# receives hi#hest priority in co00ercial plannin# of a product and 0ar:etin# activities% As seasons chan#e" the brandin# techni?ues too chan#e in a retail store% 9raditional belief about brandin# and the bi##est 0yth in the world of business continues to be that brandin# is for e7ternal purposes" for co00unicatin# to consu0ers and that it is the e7clusive preserve of the 0ar:etin# function% 9hen era ca0e the belief that advertisin#" PR" database and direct 0ar:etin#" interactive 0edia 0ust all create a consistent i0pression" and thus was born inte#rated brandin#" -F'-de#ree brandin#" total brandin# and what have you% $ot to 0ention PR a#encies" direct 0ar:etin# a#encies and interactive a#encies% But you 0ay notice" that there arenLt" as yet" or#ani*ations that speciali*e in what is called internal brandin#% Retail industry is the sector that has #rown in the last few years by leaps and bounds% 9here is a hu#e de0and for internal brandin# and retail 0ana#e0ent wor: profiles now-a-days% Despite the #rowin# interest in internal brandin#" there has been li0ited research conducted into the processes re?uired to encoura#e brand-supportin# behavior% Moreover" parado7ical to the need to understand e0ployees" the e7istin# insi#hts have #enerally ste00ed fro0 research with 0ana#e0ent" brand practitioners3 and even custo0ers3 perspectives% 9herefore" this paper ai0s to unearth the role of internal brandin# and contribution of the e0ployees who deliver brand values to the custo0er% Bein# at the interface of the internal and the e7ternal world of the brand" custo0er facin# e0ployees e7ert a certain de#ree of influence on custo0ers3 and other sta:eholders3 perceptions about the brand and A or the or#ani*ation" which deter0ines the success of brand positionin#% 9heir distinctive s:ills can create a co0pany3s co0petitive advanta#e that 0ay be difficult to be 0atched% Such a differential advanta#e reduces the ris: of bein# perceived as co00odities% +owever" Cas 0uch as the hu0an factor is the co0pany3s 0ost tenuous co0petitive feature" it can also be the 0ost vulnerable one3% 9hat is" they are as 0uch a valuable asset as they are a challen#e to a service or#ani*ation% 9he creation of a stron# brand and the deliverance of perceived service ?uality are pre0ised by e0ployees3 ability to deliver on custo0er e7pectations% 9hus" adoption of internal-oriented initiatives" directed at e0ployees i0provin# service ?uality and brin#in# the brand to life" is advocated% 9his paper" therefore" e7plores the effect of initiatives of internal brandin# in retail stores% Many leadin# retailers are levera#in# their vast custo0er bases to build profitable relationships with custo0ers by focusin# brandin# 0ar:etin# and custo0er service offerin# into a powerful" inte#rated brand offerin#% Retailers offerin# better custo0er service will build interactive relationship which helps to crate custo0er loyalty% 9his initiative lies at the heart of sustainable co0petitive advanta#e in the 0odern retail industry%
CONCEPTUAL FRAMEWOR% OF INTERNAL BRANDING Internal Brandin# is the set of strate#ic processes that ali#n and e0power e0ployees to deliver the appropriate custo0er e7perience in a consistent fashion% Internal brandin# refers to the activities e0ployed by a co0pany to ensure intellectual and e0otional staff buy-in ;9ho0son et al%" &JJJ< into not only the corporate culture" but also the specific brand personality invo:ed within this culture% As the definition of brand chan#es" the process of brandin# and brand 0ana#e0ent 0oves forward as well% Alon# with e7ternal brand buildin#" traditionally the 0ain brandin# concern" 0any co0panies have 0ade internal brandin# a top priority to counteract short-ter0 perspective and lac: of understandin# and appreciation of brands within an or#ani*ation ;=eller E''H" ---<% ettin# e0ployees to sell pro0ises instead of products is especially i0portant in hi#h technolo#y 0ar:ets where product functionality and features are not enou#h to provide a source of differentiation any0ore ;>ard" 2i#ht 8 oldstine &JJJa<% Dra:e et al% ;E''." &H&< state that en#a#in# e0ployees in i0ple0entin# pro0ise-based business 0odel re?uires an incentive syste0 to reward the0 for e7ceptional support of the brand strate#y% Rewards and reco#nition serve as a #ood 0otivational tool as lon# as the funda0entals of the pro#ra0 are co00unicated before the pro#ra0 is launched ;Dra:e et al% E''." &H&<% 9he 0ost effective on-brand rewards and reco#nition are ade?uate" sincere" and ti0ely" and coincide with the e7ecution of the internal brandin# pro#ra0 ;Davis E''." E-J<% A VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in &EI RETAIL INDUSTRY OF INDIA 9he Indian retail 0ar:et" over the last decade" has shown #reater acceptance for or#ani*ed retailin# for0ats% Do0estic retailin# is e0er#in# fro0 a 0ultitude of unor#ani*ed fa0ily-owned businesses to or#ani*ed 0odern retailin#% Rapid urbani*ation" chan#es in shoppin# pattern" de0o#raphic dividend and pro-active 0easures by the overn0ent are abettin# the #rowth of the retail sector in India% Indian retail sector accounts for EEM of the countryLs DP and contributes to HM of total e0ploy0ent Indian retail business values at around 4SN ..' billion as of now and about four per cent of it accounts for the or#ani*ed sector% A report by Boston )onsultin# roup ;B)< has revealed that the countryLs or#ani*ed retail is esti0ated at 4SN EH billion with around I per cent penetration% It is pro1ected to beco0e a 4SN EF' billion business over the ne7t decade with around E& per cent penetration% A report by )II-A9 =earney revealed that 2u7ury brands 0ar:et in India #rew at a healthy E' per cent durin# E'&' reachin# a si*e of 4SN .%H billion% It further stated that the Indian lu7ury 0ar:et stood at a value of 4SN (%IF billion in E''J and is anticipated to be worth 4SN &(%I billion by E'&.% 9he worldLs lar#est retailer >al-Mart will open an innovation lab in Ben#aluru by the end of E'&&% 9he lab would be tas:ed to drive the 4SN (EE-billion co0panyLs ne7t #eneration innovations that i0pact shoppin# behavior a0on# the custo0ers%Real estate 0a1or D2!Ls subsidiary D2! Brands has struc: a deal with )hica#o-based )laireLs Stores Inc to brin# the latter to India and open its I. stores over E'&&-&F% )laireLs is a specialty retailer which tar#ets youn# #irls throu#h over -"''' stores #lobally% !ro0 E''' to E'&'" Indian retail attracted about N&%H billion in forei#n direct invest0ent" constitutin# &%.M of total invest0ent flow into India% India has topped the A%9% =earney3s annual lobal Retail Develop0ent Inde7 ;RDI< for the third consecutive year" 0aintainin# its position as the 0ost attractive 0ar:et for retail invest0ent% Arvind Brands" Madura ar0ents" Spy:ar 2ifestyle and Royal )lassic Polo are :nown for Indian apparel retailers" levera#in# opportunity fro0 Indian 0ar:et% !uture roups" RP-San1iv oen:a roup Retail" 9he 9ata roup" Reliance Retail" = Rahe1a )orporation" 2ifestyle International" 5ishal Retail are pro0inent players in Indian retail 0ar:et accountin# 0a1or 0ar:et share of or#ani*ed retail in India
PURPOSE OF THE STUDY 9his research ai0s to reveal use of internal brandin# in retail business and #ain co0petitive advanta#e in co0ple7 business scenario% Also paper e7a0ines the essential role that internal brandin# plays in doin# successful business% !ro0 our literature review" we derive several research ?uestions to #uide our study% Insi#hts into these research ?uestions help us develop the Internal brandin# concept further% RO&B >hat are opinions of sa0ple e0ployees re#ardin# internal brandin#P ROEB >hat benefits these or#ani*ations achieved in adoptin# internal brandin#P RO-B >ho are responsible for conductin# internal brandin# in sa0ple retail or#ani*ationsP
RESEARCH DESIGN !or this study case study approach was adopted which included ?ualitative and ?uantitative research% 9he ?ualitative research consisted of eleven in-depth interviews conducted with e7ecutivesA0ana#ers that are responsible for developin# internal brandin# strate#ies within their or#ani*ations% 9hese in-depth interviews revealed an e7panded concept of internal brandin# and answered second ;ROE< and third ;RO-< research ?uestions% Subse?uently to answer first ;RO&< research ?uestion" the ?uantitative research portion of this study was 0ana#ed throu#h structured ?uestionnaires survey of -F respondents across industries who were e0ployees involved in dealin# custo0er directly% Sa0ple retail store ;>ith na0e of the retailer and Place< for study were Bi# Ba*aar ;=othrud<" Reliance Mart ;!ati0a $a#ar<" Me#a Mart ;Dapodi<" Pune )entral ;4niversity Road and Bund arden<" Shopper Stop ;)a0p<" 2ifestyle ;=ore#aon Par:< and )ro0a ;+adapsar< fro0 various part of Pune city% !or sa0ple purpose" we thou#ht that senior 0ana#e0ent typically develops brand strate#y while the actual brand e7perience is 0ost often delivered by the least-infor0ed and lowest paid service associates or front line e0ployees% Also" to further co0plicate 0atters" these front line associates are often part-ti0e% Best practices in internal brandin# can build that crucial brid#e between strate#y and e7ecution%
FINDINGS AND DISCUSSIONS Internal brandin# focuses on what should be done in-house so that it translates into the co0panyLs desired results outside% And this study revealed e7actly how internal brandin# creates i0pact on overall i0a#e of or#ani*ation% Brand in itself is a powerful word-evo:in# e0otions plu##ed with a particular product% >hile 0assive efforts are underta:en to pro1ect the co0panyLs ri#ht i0a#e in front of the public" they stand 0eanin#less if these are not applied towards the internal custo0ers" na0ely e0ployees of the co0pany% If e0ployees are happy" it would transpire into better clientele% Benefits that revolve around internal brandin# are 0anifold% 6ffective internal brandin# 0echanis0 #ives the co0pany an ed#e over its co0petitors as brand e0ployers are :nown for their reputation" #ood retention tactics" less attrition levels" who value e0ployees and their individuality" who breed a cohesive culture" provide #rowth and develop0ent opportunities" and there is inclusive #rowth and overall or#ani*ational develop0ent% 9he #oal of an internal brandin# ca0pai#n is very si0ilar to that of an e7ternal ca0pai#n to create an e0otional connection to your co0pany that transcends any one particular e7perience% In the case of e0ployees" co0panies also want the connection to infor0 the way they approach their 1obs" even if they don3t interact with custo0ers% )o0panies always want the0 to have the brand vision in their 0inds and to consider whether or not they are supportin# the brand in every decision they 0a:e% 9he effectiveness and overall success of internal brandin# pro#ra0 is dependent on an in-depth :nowled#e and understandin# of the internal as well as the e7ternal environ0ent of the or#ani*ation" while 0ar:et research provides such infor0ation ;Berry and Parasura0an" &JJE@ Mitchell" E''E@ Schult*" E''E@ Bea#rie" E''-<% !or study findin#s" research ?uestions were analy*ed respectively and outco0es are discussed in detail%
VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in &EH FIGURE.1. EMPLOYEES& OPINION REGARDING INTERNAL BRANDING IN SAMPLE ORGANI(ATION
RO&B !irst research ?uestion sou#ht to :now the opinions about internal brandin# fro0 conducted sa0ple e0ployees in various retail stores of Pune% !ro0 above ;!i#ure%&< we found that 0ost of respondents were aware about internal brandin# and they a#reed that internal brandin# helps in better custo0er e7perience ;I-M<" and help to stren#then bond between custo0er and e0ployee ;FHM<" increases perfor0ance of e0ployees ;FIM<" create value ;FFM< for custo0er are subse?uent opinions and perceptions about internal brandin# in sa0ple or#ani*ations% Apart fro0 that en#a#e0ent of e0ployee in internal brandin# and internal brand is e7pensive were considerably a#reed opinions fro0 sa0ple% Output of this research ?uestion would help to understand different perception and opinion of e0ployees related to internal brandin# and its e7ecution%
FIGURE.2. BENEFITS ACHIEVED FROM INTERNAL BRANDING
ROEB 9he overall results in ;!i#ure%E%< indicate that" there are several benefits of internal brandin# but accordin# to study" better custo0er service ;IEM<" perfor0ance of e0ployee ;FJM< and e0power e0ployee ;FHM< were pro0inent benefits out of internal brandin#% +owever sa0ple respondents answered positively re#ardin# other benefits of internal brandin# which include i0proved or#ani*ational culture" stron# internal co00unication" build loyalty" pride within or#ani*ation" increased profit and i0proved reputation of or#ani*ation% Internal brandin# leads to an increase in efficiency and productivity levels of e0ployees" which in turn 0a:es custo0ers happier% 6ffective internal brandin# 0echanis0 #ives the co0pany an ed#e over its co0petitors as brand e0ployers are :nown for their reputation" #ood retention tactics" less attrition levels" who value e0ployees and their individuality" who breed a cohesive culture" provide #rowth and develop0ent opportunities" and there is inclusive #rowth and overall or#ani*ational develop0ent%
FH I- FF FI .& .F &E H EF &F EJ -E ' E' (' F' H' &'' Internal Brandin# help to stren#then bond between custo0er and e0ployee Internal Brandin# helps in better custo0er e7perience Internal Brandin# creates value Internal brandin# increases perfor0ance of e0ployees Internal brandin# is e7pensive Internal brandin# is act of e0ployee en#a#e0ent P7;<7241>7 O F 5 2 5 9 2 C
9 8
E 6 F ? 9 3 7 7 C
A#ree Disa#ree E- FF (F IE FH FJ (& -H F& ' &' E' -' (' .' F' I' H' Improved Image and Reputation Improved Organizational Culture Increased Profits Better Customer Experience Empower Employees Performance of Employees Reduce Attrition/Increase Retention Build loyalty , Pride within the Organization Strong Internal Communication/Marketing Percentage B e n e f i t s
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I n t e r n a l
B r a n d i n g VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in &EJ FIGURE.3$ RESPONSIBLE PERSONNEL&S FOR CONDUCTING INTERNAL BRANDING IN SAMPLE ORGANI(ATIONS
RO-B !or0ulation and i0ple0entation of internal brandin# practices are crucial tas:s in any or#ani*ation and person who is responsible could play 0a1or role in creatin# better brand i0a#e in 0ar:et% Our study revealed that Mar:etin# Depart0ent ;I-M<" )orporate )o00unicationA PR Depart0ent ;.&M<" and )6O ;-.M< 0ost often 0ade internal brandin# related decisions% Many or#ani*ations in sa0ple had +u0an Resource Depart0ent" Senior Mana#ers and Board of Directors as decision 0a:ers for internal brandin#% 9his result would help to construct internal brandin# strate#ies for or#ani*ations%
IMPLICATIONS AND LIMITATIONS OF THE RESEARCH 9he research is relevant as it addresses issues of internal brandin# and its i0plications in retail business% Brand develop0ent is the business strate#y and internal brandin# help to drive a business forward in co0ple7 environ0ent% Study indicates that Mar:eters would learn how to effectively inte#rate and levera#e internal brandin# and 0ar:etin# to i0prove the short-ter0 and lon#-ter0 success of your or#ani*ation% Research only related to retail sector fro0 Pune city% I0plications on other sectors of businesses can be different% 67tended research can be beneficial for strate#y for0ulators who would deal with Internal Brandin#%
CONCLUSIONS >hat 0a:es internal brandin# such a co0pellin# proposition is the fact of co0poundin# benefits% A stron# internal brand supports the hu0an resource #oals of total rewards% >ith talented" 0otivated" co00itted people wor:in# in the or#ani*ation the e7ternal brand pro0ise" and the business itself" are stren#thened% Internal brandin# is the connected of any corporate brand% Internal brandin# stren#thens a corporate or#ani*ation3s position in a co0petitive 0ar:et place as well as enhances or#ani*ation3s effectiveness% Internal brandin# is i0portant because li:e every other brandin# strate#y" internal brand is a for0 of an atte0pt to #ain further control of niche throu#h shapin# internal audience identities% 9he essence of internal brandin# is to help e0ployee internali*e and truly represent the brand identity desired by corporate brand%
REFERENCES &% Bal0er" J % and >il:inson" A % ;&JJ&< CBuildin# societiesB )han#e" strate#y and corporate identity3" Journal of eneral Mana#e0ent" 5ol% &I" $o% E" pp% E' , --% E% Bea#rie" S% ;E''-<" L+ow to %%% influence e0ployee behaviour throu#h internal 0ar:etin#L% Personnel 9oday" Au#ust" P--. -% Berry" 2%2% and A% Parasura0an ;&JJE<" LServices 0ar:etin# starts fro0 withinL% Mar:etin# Mana#e0ent" vol% i" no% i" pp% E(--(% (% Bharadwa1" S% %" 5aradara1an" R% P% and !ahy" J% ;&JJ-< CSustainable co0petitive advanta#e of service industriesB A conceptual 0odel and research propositions3" Journal of Mar:etin#" 5ol% .I" pp% H- , JJ% .% Davis" S% E''.% Buildin# a Brand-Driven Or#ani*ation% )hapter &E in =ello## on Brandin#B 9he Mar:etin# !aculty of the =ello## School of Mana#e0ent% 6ds% 9ybout" A%" )al:ins" 9% $ew JerseyB Jon >iley 8 Sons% Accessed on - October" E'&'% +ttpBAAboo:s%#oo#le%esA F% Day " % S % and >ensley " R % ;&JHH< CAssessin# advanta#eB A fra0ewor: for dia#nosin# co0petitive superiority3" Journal of Mar:etin#" 5ol% .E" pp% & , E'% I% Dra:e" S%" ul0an" M% 8 Roberts" S% ;E''.<% 2i#ht 9heir !ireB 4sin# Internal Mar:etin# to I#nite 60ployee Perfor0ance and >ow /our )usto0ers% Dearborn 9rade" A =aplan Professional )o0pany% Accessed on - October" E''J% +ttpBAAwww%1a0:%fiA:ir1asto" $elli-portaali" 6brary% H% httpBAAwww%ibef%or#AindustryAretail%asp7 ;Accessed on '.!ebruary E'&E< J% Joseph" >% B% ; &JJF < Internal 0ar:etin# builds service ?uality 3 " Journal of +ealth )are Mar:etin# " 5ol% &F " $o% & " pp% .( , .J % &'% =eller" =% ;E''H<% Strate#ic Brand Mana#e0ent , Buildin#" Measurin#" and Mana#in# Brand 6?uity% -rd ed% $ew JerseyB Pearson International 6dition% &&% 2in#s" I % $ % ;E''(< C Internal 0ar:et orientationB )onstruct and conse?uences 3 " Journal of Business Research " 5ol% .I " $o% ( " pp% ('. , (&- % &E% Mitchell" % ;E''E<" LSellin# the brand insideL% +arvard Business Review" vol% H'" no% i" January" pp% JJQ&' &-% Pa#diwalla =ash0ira" ;E''I< Intas Biophar0aceuticals 2i0ited" ;IBP2<" C9he 0a#ic of Internal Brandin#3 Available at httpBAAwww%e7pressphar0aonline%co0AE''I&&&.Aphar0alife'&%sht0l Accessed on &E October" E'&'% &(% Research and Mar:etsB Retail Sector in India E'&& - Indian Retail Sector Accounts for EEM of the )ountryLs DP httpBAAwww%reuters%co0AarticleAE'&&A'.A&&Aid4SEJJF-R&&-May-E'&&RB>E'&&'.&& ;Accessed on &' Dece0ber E'&&< &.% Sa0li " A % and !rohlich " ) % ;&JJE< CServiceB 9he co0petitive ed#e in ban:in#3" Journal of Services Mar:etin#" 5ol% F " $o% & " pp% &. , EE % &F% Schult*" D%6% ;E''E<" LStudy internal 0ar:etin# for better i0pactL% Mar:etin# $ews" vol% -F" no% Ei" October" pp% H-J% &I% Susan +unt S Sun 2ife !inancial with Rob 2andry S Ma#na International" T9he I0portance of 60ployer Brandin# &H% 9ho0son" =%" 2% de )hernatony" 2% Ar#anbri#ht and S% =han ;&JJJ<" L9he buy-in bench0ar:B how staff understandin# and co00it0ent i0pact brand and business perfor0anceL% Journal of Mar:etin# Mana#e0ent" vol% &." no% H" $ov%" pp% H&J--.% &J% >ard" S%" 2i#ht" 2% 8 oldstine" J% ;E''J< a% >hat +i#h 9ech Mana#ers $eed to =now About Brands% +arvard Business Review article search% Accessed on &J $ove0ber" E'&'% +ttpBAAhbr%harvardbusiness%or#A&JJJA'IAwhat-hi#h-tech-0ana#ers-need-to:now-about-brandsAarA&% E'% >itt:e-=othe" )% ;E''&< CInternet Mar:enf U hrun# Q 5eran:erun# der Mar:enidentit V t i0 Mitarbeiterverhalten 3" Deutscher 4niversit V tsverla# 0b+" >iesbaden% I- EI -- .& E& -. ' &' E' -' (' .' F' I' H' Mar:etin# Depart0ent Senior Mana#ers +u0an Resource Depart0ent )orporate )o00unicationA PR Deppt% Board of Directors )6O P7;<7241>7 R 7 C F 9 2 C 5 J ? 7
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C 4 9 ; 7 C VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in &-' REQUEST FOR FEEDBACK
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VOLUME NO. 3 (2012), ISSUE NO. 6 (JUNE) ISSN 0976-2183 INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories www%i1rc0%or#%in I