MKT202 Marketing Research Proposal Assignment Sample : The impact of brand personality on buying decision
Here’s the best sample of MKT202 Marketing Research Proposal Assignment : The impact of brand personality on buying decision, written by the expert.
Industry Review
In respect to study the impact of brand personality over the people buying decision, there is need to firstly identify that what challenges retail industry is facing when it comes to branding the product (Albert and Merunka, 2013). This is because product branding demands lot of proper researching activities and appropriate management strategies. Thus, it is important to understand that what all factors that affect the industry in terms to brand the product properly.
The frequent changing customer expectation is a challenge which retail industry is facing as it is found that customer taste and preferences changes year-by-year and accordingly the retailer keep with the seasonal trends as well as consumer behavior. The change on customer taste put pressure on retailer to add some different elements on product and develop different strategies to attract the consumers. Thus, this area prove to be challenging for retailer as creation of new image demands lot of activities such as collect market information, hiring of human resources and develop the strategies and investment of high budget. So, this becomes the concern area for the industry.
However, the maintaining of customer loyalty is also considered as a critical issue for creation of product branding. This is because brand loyalty is achieved by the brand only when customer feels satisfied otherwise, brand struggle for the customer attentions (Pérez et al. 2013). Moreover, the personalization factor is something which majorly influences the consumer perception. So, the creation of customization on product as per every customer needs and wants become difficult for retailers.
At the same time, it can be stated that digital disruption is the major factor behind the failure of branding. This is because e-commerce’s platform has major influences over the consumer behavior and attitude. Likewise, individuals usually used internet to compare the brands then take buying decision. This area clearly stated that e-commerce’s growth become a threat to retailers.
Moreover, the poor market research is another factor within which branding development become a challenging task for retailers. Likewise, there are various research firm which fails to collect the accurate facts about the consumer behavior due to scattered responses of individuals. Thus, this area affect directly to retailers in terms to fail to cater the right need of consumer and attract them towards the product.
Hence, these are the factors that become a cause behind the failure of branding.
Management Problem
Branding is an important aspect for every management as brand image is the one which prove to be useful for appealing the target audiences toward the product. But the success of branding is largely depending upon the market research of management (Rai, 2013). In concern to market research, there are various problems that management faces in current scenario.
It involves the incompetence’s of workforces within which management become helpless to bring innovation on frequent basis. This occurs due to update of technology on frequent manner and it is not important that every individual is competent enough to understand and deal with the technology. This affects the management capability to implement the right branding strategy. The development of brand personality becomes a tedious task as now people want their brand to be on digital market as well as offline. This put pressure on firm to manage their brand on both the platforms. Other than that, the poor leading style can also be reason behind the failure of market research. This is because leader plays a major role in term to guide the team-members so if haven’t get the proper guidance’s then they definitely unable to perform their task properly. This act clearly reflects on the management failure in term to undertake the right market research (Meenaghan, 2013). However, the internal staff conflicts are another management issues which are quite common on current situation where due to existences of diverse culture employees, the misunderstanding and language barrier always there and it results on conflicts. This practice directly affect the work performances like market research as if there is no proper coordination lie between the team-members then they won’t able to contribute better results to management. Therefore, these are the management problem that affects the market research.
Research Problem
On the basis of management problem, it is identified that there are various research problem get occurred. Likewise, if the staff is not competent enough to address the customer taste and preferences then they won’t influences the consumer perception on positive manner. This area directly affects the consumer buying decision. However, the management poor strategies and low skilled workforces not support the organization to develop right brand personality within which consumer not able to relate with the brand and it results into the failure of market research (Hashem et al., 2015). Other than that, the increasing competition put pressure on the management to develop right branding so that consumer able to appeal with it but the improper strategies usually leads to moving to another brand by the consumers. It results on failure of brand.
In addition to this study, it is also found that internal conflict becomes a major management issue. So this problem becomes a concern area for performing the market research. It is because if people not ready to work on team then they won’t perform the task with proper coordination. This leads to failure of influencing the consumers (Schwab, 2013). It affects the individual buying decision. Thus, the poor management affects the research on negative manner.
Research Objectives
In respect to the research problem, there is need to develop the research objective in order to achieve the right solution for addressing the given problem. The objective for the research is as follows:-
- To study about the concept of brand personality
- To identify the factors that affects the consumer perceptions
- To find out the challenges that retailer faced while development of brand personality
- To suggest the solutions to address the challenges
On the basis of these objectives, the researcher able to figure the area within which retailer can influences the consumer on positive way through develop the right branding strategy.
References
Hashem, I.A.T., Yaqoob, I., Anuar, N.B., Mokhtar, S., Gani, A. and Khan, S.U., 2015. The rise of “big data” on cloud computing: Review and open research issues. Information systems, 47, pp.98-115.
Meenaghan, T., 2013. Measuring sponsorship performance: challenge and direction. Psychology & Marketing, 30(5), pp.385-393.
Pérez, A., del Mar García de los Salmones, M. and Rodríguez del Bosque, I., 2013. The effect of corporate associations on consumer behaviour. European Journal of Marketing, 47(1/2), pp.218-238.
Rai, N., 2013. Impact of Advertising on Consumer behaviour and attitude with reference to consumer durables. International Journal of Management Research and Business Strategy, 2(2), pp.2-8.
Schwab, D.P., 2013. Research methods for organizational studies. USA: Psychology Press.
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