Introduction
In this day and age, individuals have a demanding way of life.Their busy schedules occupy them every minute, and they cannot think of wasting time thinking about how they feel about any product. The variety of intentions buyers have when purchasing any product can stress them and make them unsure about the product they want. They may even confuse the seller with their demands.As per the findings in the sample research proposal for MBA, once in a while, consumers look for someone who can help them with a proposal of a product without involving their perspectives about the type of product they want.In such instances, brand awareness is necessary (Bella, 2000)
The extent to which a consumer can remember or identify a brand is called brand awareness.As per the findings in the sample research proposal for MBA, awareness about a brand concerns brand identities in a consumer’s mind. It can be calculated by the consumers’ memory to recollect the product under any circumstance.The primary brand asset for a company is its brand awareness, which raises the value of the product, company and service. Therefore, a company can build sustainable competitive advantage and long-term value for its products or services by investing more resources in developing brand awareness.
The internet has created a medium for businesses and consumers to meet their needs. It permits businesses to get hold of their clients from across the world, and it allows consumers from all age groups to look at different products and services and then make a selection.Therefore, the internet must be exploited by both consumers and business houses for their benefit. In this day and age, all business houses are promoting their brand awareness through different channels beginning from traditional media to modern media (Bella, 2000). As per the findings in the sample research proposal for MBA, these channels include newspapers, television, magazines, print advertising, billboard, radio, and online sites. They also promote their products and services on their websites and as well as on online shopping websites.
Research objectives
• Pinpoint the importance of brand awareness for products
• Determining enhancement of market success rate through brand awareness
• Establishing the connection between brand awareness and the behavior of consumers while making a purchase decision
Research questions
• What factors impact the consumer’s behavior while purchasing a product or service?
• Apart from brand awareness, which factors in an unknown surrounding influence the selection of a brand for the first time?
• What type of strategies can be adopted by cooperatives to enhance brand value and brand image?
Literature review
Researchers and academicians have invested their time studying and researching branding, launching new products in the market and brand awareness. A student looking for a sample research proposal for MBA can find a significant amount of content on this topic.The advantage of a popular brand is that it can build a strong association with its consumers compared to brands which are not so popular.It helps businesses to accumulate more profits and build a sustainable name for it (Biel and David, 2013).The precondition to buying any product or service is its brand image. Businesses can generate additional profits if they manufacture goods and services which are of high quality and which can attract more buyers.With the aid of advertising, the brand can develop its relationship with the consumers as a brand association, and attitudes towards a brand develop when it is represented well.The brand can add new features or improve its existing products to bank upon the brand value it has created among the consumers.According to the sample research proposal for MBA, consumers can gain added value from existing products.Launching new products in the market and employing different advertising methods can enhance its presence among consumers.Businesses using the line technique to advertise and promote their products using traditional mediums can have a better hold in the market. Still, it can also lead to high expenditure when launching a new product (Biel and David, 2013).Hence, many businesses use the line technique to innovatively introduce their brands. They are going personal while marketing their brands which attracts consumers and makes them feel connected with the products. It also helps to reduce the overall costs employed in creating a brand.Media strategies like adopting internet and network marketing through mobile-based applications are a few of the latest strategies businesses utilize.
Consumers are motivated to purchase a product when they know the value and benefits it will add to their lives. Several factors help make a purchasing decision for consumers, and one of them is satisfaction. When consumers are satisfied with their previous purchase from a particular brand, they tend to repurchase the same product from the same brand. A brand’s position in the market is also determined by the degree of satisfaction that a consumer has after purchasing its product. It lays the way for the next purchasing decision of the consumers (Biel and David, 2013).
The essence of this sample research proposal for consumers is to investigate consumers’ purchasing behavior and establish the connection between brand awareness and several brand results.
Brand equity
Brand equity is a brand’s total assets and liabilities, including the name, trademark, etc. In contrast, the brand difference is the value the consumers, the product or the company puts forward.Assets and liabilities can only affect the company’s brand equity when connected with its name or symbol. But if the company changes its name or the trademark, it affects the assets and liabilities either positively or negatively. There is also a possibility that these effects can also be seen on the new name or trademark. Brand equity for a company can vary depending upon several factors apart from the assets and liabilities (De Souland Wallace, 1999).As per the sample research proposal for MBA, the factors may be brand name, brand loyalty, the perception of the consumers about the quality, and the patent or trademark of the company.
A few researchers have mentioned that brand image is one of the crucial assets that a company possesses (Truscott, 2004). One of the factors that can enhance the worth of the brand is brand equity.The brand owner can account for its value in the market by assessing its brand equity.The components that help assess the brand equity are margin of profit, market share, recognition of its log and trademark, brand association, the viewpoint of consumers about the quality, brand value, etc.
Implications of marketing of brand awareness
Advertisements are not the only source of information from which consumers can discover different products and brands. To make an informed decision before purchasing, consumers look through additional information from different sources. When consumers search for a category of product, they come across different brands providing the same category of products under different brand names. The awareness about several brands is known as the awareness set. Conversion is the process of sifting consumers from brand awareness to having a positive attitude about the brand, which is reflected in sales. Advertising is not enough to create awareness and brand attitudes among consumers towards a product. Still, there are other components in the marketing plan that helps in the actual selling of the products.Telemarketing is one of the promotional ideas that can generate more sales than traditional marketing (De Souland Wallace, 1999).As per the sample research proposal for MBA, the message being reflected from an advertisement is another component that can enhance direct sales of the products.Messages form part of the integrated communications strategy of a brand. A consumer’s interest in a brand or a product can be changed to sales by adding some additional value. To increase sales, the company can develop special price offers, attractive trade discounts, unique promotional offers, guarantees, etc.The businesses launching new products, their ideal motive must be to advertise and make consumers aware of their products.When the business reaches the requisite awareness level, it can shift its advertising strategies to stimulate interest and want to purchase the product among consumers (Shelly, 2000).
Generating continuous brand awareness
To thrive in the industry, a company must build solid consumer trust. Customer base and sales cannot be increased if the consumers lose their trust in the brand or move on to another brand.All in all, brand trust is something a consumer relies on before making a purchase.As per the findings in the sample research proposal for MBA, brand trust can come from the opinion of people who have already tried the product or from research.Repeated purchase from a consumer signifies that they have instantly connected with the brand, and in no way will they think twice while purchasing the same product in future (Jenkins, 2206). The repeated purchases interrelate trust and loyalty.
It is vital to build a brand name as early as possible to enhance the possibility of the product being accepted by consumers.As per the sample research proposal for MBA, marketers try out different marketing campaigns when launching their products to gain more awareness. First, they intensively market their products to attract more attention.Once the brand reaches a point of awareness where it believes it has the intention of the entire market, it can shift its focus from intensive marketing to reminder marketing (Newmen, 1999).Reminder marketing is performed to keep the consumer’s attention intact and to hold back their interest.
These days, influencers are a great source for building brand awareness and sales for a company.They blog about different products and services, including food, clothing, electronic items, cosmetics, etc., and it is also found that companies are using these influencers to endorse their products.Influencers as product endorsers are more in demand compared to celebrities.Consumers easily get influenced by reviews and social media posts of several influencers.
ResearchMethodology
For this sample research proposal for MBA, qualitative research methodology wasselected. The method will help guide prospective results and valid information. The sample research proposal for MBA does not concentrate on numerical data instead, it relies on observations of different researchers and interviews.The intention behind conducting a qualitative study is to discover the extent of a condition in the form of numbers. Qualitative research can be described as stories, characterizations, visual portrayals, interpretations, etc. The sample research proposal for MBA has considered qualitative research as it concentrates on building online brand awareness among consumers while making their purchasing decisions. It tries to establish that understanding brand awareness is important to market the products and increase sales (Zikmund, 2009). The telephonic interview helps to collect instant information which is reliable and can be used as a good source for a sample research proposal for MBA. With the aid of interviews, we determine the extent of brand awareness among the consumers and how marketing helps to turn the awareness into a desire to purchase.
Gantt chart
Limitations
Though for this sample research proposal for MBA, a quantitative research strategy could have worked better, the decision to conduct a telephonic interview led to the adoption of a qualitative research methodology. The paucity of time was another factor that restricted the researcher from conducting a face-to-face interview. The consumers for the sample research proposal for MBA were chosen from the UK, creating a geographical limitation. The conclusions are based on the observations and findings from the interviews.
Ethical considerations
It was vital to consider ethics before and at the time of writing the sample research proposal for MBA. It was also essential to maintain ethics while conducting the telephonic interview. No personal or confidential information about the consumers has been published. Before interviewing this sample research proposal for MBA, proper approval was taken from them.
Conclusion
Several mediums are used so that companies can improve and build their brand awareness. The sample research proposal for MBA has discussed various techniques to turn brand awareness into actual sales. One of the techniques is an internet marketing and hiring influencers for digital marketing. A consumer can come across a product using different mediums like viewing videos, social media sites, video games, watching television or talking with others.
The research in the sample research proposal for MBA tries to establish a positive connection with the consumers’ brand awareness and preferences along with the marketing campaigns’ results.The main idea behind building a promotional campaign is to make consumers aware of a specific product in the market.
References
Bella, J.R. (2000). Marketing and Promotion Management. McGraw-Hill. https://marketing.org/wiki/Brand_awareness
Biel, L. and David A. (2013). Brand Equity.
De Soul, L., and Wallace, E., (1999). Forming meaningful brands, Routledge. https://absar.com/journals/Vol_6_No_1_Januaryr_2015 Jenkins, K., (2006), Culture: Collision of old and new media, NY Press.
Newmen, M (1999). The Brand Gap: Bridging the Distance between design and business Strategy, CA: New Riders Publishing.
Shelly, M. (2000). Models for brand measurement. Social Science Studies, 3(3), p. 967-981.
Truscott D (2004) Practice: ethics and dilemmas in qualitative research. Sci Ed.
Zikmund, W(2009), “Business research methods” The Dryden Press.
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