{"id":1038,"date":"2016-08-30T08:05:22","date_gmt":"2016-08-30T08:05:22","guid":{"rendered":"http:\/\/projecthelpline.in:\/myblog\/?p=1038"},"modified":"2021-11-18T07:32:33","modified_gmt":"2021-11-18T07:32:33","slug":"mba-project-synopsis-for-marketing","status":"publish","type":"post","link":"https:\/\/projecthelpline.in:\/myblog\/mba-project-synopsis-for-marketing\/","title":{"rendered":"MBA PROJECT SYNOPSIS FOR MARKETING"},"content":{"rendered":"
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  1. TITLE OF THE PROJECT:<\/u><\/strong><\/li>\n<\/ol>\n

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    A STUDY TO INCREASE PENETRATION LEVEL & BRAND LOYALTY AMONG EXISTING CONSUMERS OF BHOLASONS JEWELLERS<\/a><\/h3>\n

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    1. INTRODUCTION<\/u><\/strong><\/li>\n<\/ol>\n

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      Degree to which a consumer repeatedly purchases a brand, for advertisers to achieve their ultimate goal of brand loyalty, the consumer must perceive that the brand offers the right combination of quality and price. Many factors influence brand loyalty, such as consumer attitudes, family or peer pressure, and friendship with the salesperson. The advertiser must consider all such factors. The degree of brand loyalty-that is, the brand’s market share-is known as the brand franchise. Brand loyalty is stronger on established products than on new products.<\/p>\n

      Brand loyality has been proclaimed by some to be the ultimate goal of marketing. In marketing, brand loyalty consists of a consumer’s commitment to repurchase the brand and can be demonstrated by repeated buying of a product or service or other positive behaviors such as word of mouth advocacy. True brand loyalty implies that the consumer is willing, at least on occasion, to put aside their own desires in the interest of the brand.<\/p>\n

      Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints, a lack of viable alternatives, or out of convenience. Such loyalty is referred to as “spurious loyalty”. True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior. This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm For example if Joe has brand loyalty to Company A he will purchase Company A’s products even if Company B’s are cheaper and\/or of a higher quality. From the point of view of many marketers, loyalty to the brand – in terms of consumer usage – is a key factor:<\/p>\n

      Usage status<\/p>\n

      Philip Kotler<\/strong> groups ‘users’ into a number of categories: non-users, ex-users, potential users, first-time users and regular users.<\/p>\n

      Usage rate<\/strong><\/p>\n

      \u00a0<\/strong>Most important of all, in this context, is usually the ‘rate ‘ of usage, to which the Pareto 80:20 Rule applies. Kotler’s `heavy users’ are likely to be disproportionately important to the brand (typically, 20 per cent of users accounting for 80 per cent of usage — and of suppliers’ profit). As a result, suppliers often segment their customers into `heavy’, `medium’ and `light’ users; as far as they can, they target `heavy users’.<\/p>\n

      Loyalty<\/strong><\/p>\n

      \u00a0<\/strong>A third dimension, however, is whether the customer is committed to the brand. Philip Kotler, again, defines four patterns of behavior:<\/p>\n

      Hard Core Loyal – who buy the brand all the time?<\/p>\n

      Soft Core Loyal – loyal to two or three brands.<\/p>\n

      Shifting Loyal – moving from one brand to another.<\/p>\n

      Switchers – with no loyalty (possibly `deal-prone’, constantly looking for bargains or `vanity prone’, looking for something different).<\/p>\n

      Branding today is a blend of art and science and the topic is of interest to both academics and practitioners. Huge amount of money is being spent by marketers to develop brands, with a conviction that brand building, will create brand differentiation. While the intrinsic value with regard to functionality is created by the marketer through the offering, consumer psyche plays a vital role with regard to short and long term effects of brand associations. Besides brand associations, cultural dimensions plays an important role with regard to both branding associations and how consumer\u2019s mind adapts to the development of brand associations<\/p>\n

       <\/p>\n

      COMPANY PROFILE: <\/strong><\/p>\n

      \u00a0<\/strong>For a century now, Bholasons has stood for a lifetime of faith. Faith in knowing that our gold and diamond jewellery, kundan and polki, and everyday ensembles all bear the highest global standards of purity, excellence and design.<\/p>\n

      Not surprisingly, faith in Bholasons has now crossed international barriers and reached the United States of America, the United Kingdom, Canada, the Middle East and South East Asia. And generation after generation of women continue to cherish the experience of feeling \u2018preciously different\u2019, only with Bholasons.<\/p>\n

       <\/p>\n

      Awards<\/p>\n