BRAND AWARENESS OF CHAPTER 1 INTRODUCTION 1. 1 INTRODUCTION OF THE STUDY Brand awareness is the probability that consumers are familiar about the life and availability of the product. It is the degree to which consumers precisely associate the brand with the specific product. It is measured as ratio of niche market that has former knowledge of brand. Brand awareness includes both brand recognition as well as brand recall. Brand recognition is the ability of consumer to recognize prior knowledge of brand when they are asked questions about that brand or when they are shown that specific brand, i. , the consumers can clearly differentiate the brand as having being earlier noticed or heard. While Brand recall is the potential of customer to recover a brand from his memory when given the product class/category, needs satisfied by that category or buying scenario as a signal. In other words, it refers that consumers should correctly recover brand from the memory when given a clue or he can recall the specific brand when the product category is mentioned. It is generally easier to recognize a brand rather than recall it from the memory. There are two types of brand awareness: 1.
Aided awareness- This means that on mentioning the product category, the customers recognize your brand from the lists of brands shown. 2. Top of mind awareness (Immediate brand recall)- This means that on mentioning the product category, the first brand that customer recalls from his mind is your brand. PRODUCT PROFILE AMWAY Amway is an American multinational direct-selling company that uses multi-level marketing to sell a variety of products, primarily in the health, beauty, and products, Jewellery, electronics, Nutrilite dietary supplements, water purifiers, air purifiers, insurance and cosmetics. 2 OBJECTIVE OF THE STUDY The main objective of the project is to To know how many people are aware of Amway. To understand the concept of Brand Awareness of Amway. To find out the reasons for the retention of the Amway. To know the customer preferences. To compare the service of “Amway’ with that of the other market players. ??? find the awareness strategies of the Amway brand. 1. 3 NEED FOR THE STUDY TO The study was conducted to know the brand awareness regarding Amway of different cellular service providers. This project totally revolves around the opinions and feedback from the users.
An opinion survey with the help of questionnaire was conducted to know the users’ view on the Amway. The study was also done to estimate the performance of the Amway, and to whether the customers know about different services provided by the Amway. 1. 4 SCOPE OF THE PROJECT This helps to find the impact of the brand name among the customers. ??? To find how far people are aware and attracted towards the brand names of particular product. ??? To find the relationship between the quality of the product and its brand names. 1. 5 RESEARCH METHODOLOGY Primary data is collected by preparing Questionnaire.
Questionnaire was prepared and administrated by taking a sample of 100 consumers, which contains different categories of consumers like students, employees etc. ??? By Systematic sampling, questionnaire was distributed. The sample size was comparatively very small compared to the population and there are chances that it may not represent the whole population. ??? The time and cost factors affected the size of the sample. ??? A few of the questions asked were ranking based and hence there was every possibility of biased user opinion. ?? There were only three open ended questions, which were comparatively low when ompared to the number of the number of closed ended questions in the questionnaire keeping in the respondent’s precious time. ??? Many of the respondents gave oral complaints, but hesitated to write those complaints in the complaints column. CHAPTER 2 LITERTUREREVIEW Review of literature shows the previous studies carried out by the researcher in this field. Previous studies are reviewed in order to gain insight into extent of research.
The research problem can be more understood and made specific referring to theories, reports, records and other information made in similar studies. This will provide the researcher with the knowledge on what lines the study should proceed and serves to narrow the problem. The main objective of the study is to measure Brand Awareness of Amway products among the people and the reviews are as follows: Brand A traditional definition of a brand was: “the name associated with one or more items in the product line that is used to identify the source of character of the item” (Kotler, 2000).
The American Marketing Association (AMA) definition of a brand is “a name, term, sign, symbol, or design, or a combination of them, intended to identify the oods and services of one seller or group of sellers and to differentiate them from (Rooney, 1995) defines brand equity as a set of assets and liabilities linked to a brand’s name and symbol that adds to or subtracts from the value provided by a product or service to a customer. However, many factors can be attributed to the value of the brand for example awareness, recall and recognition.
Brand equity as a differentiating factor that can influence consumers’ response to brand’s marketing activities. In an attempt to define the relationship between customers and brands, he term brand equity in the marketing literature emerged There have been different perspectives or considering brand equity; the customer-based perspectives, the financial perspectives and combined perspectives. The first perspective of brand equity is from a financial market’s point of view where the asset value of a brand is appraised (Farquhar, 1991). Customer-based brand equity is evaluating the consumer’s response to a brand name (Keller, 1993).
While this study focus on the customer based perspectives. Brand Awareness Aaker (1991) defines brand or name awareness as “the ability of a potential buyer to ecognise or recall that a brand is a member of a certain product category. ” Therefore it is important that a link between product class and brand is implicated because the scope of brand awareness is very wide, ranging from an unsure sensation that the brand name is recognised, to a conviction that it is the only one in the product class. Brand awareness refers to the strength of a brand’s presence in the consumer’s mind.
It is a measure of the percentage of the target market that is aware ofa brand name. Marketers can create awareness among their target audience through repetitive advertising and publicity. Brand awareness can provide a host of competitive advantages for the marketer. These include the following: ??? Brand awareness renders the brand with a sense of familiarity. ???Name awareness can be a sign of presence, commitment and substance. ??? The salience ofa brand will decide if it is recalled at a key time in the purchasing process. ??? Brand awareness is an asset that can be inordinately durable and thus sustainable.
Brand awareness is measured according to the different ways in which consumers remember a brand, which may include brand recognition, brand recall, top of the mind brand and dominant brand. Brand recognition: It related to consumers’ ability to confirm prior exposure to that brand when given the brand a cue. It requires that consumers can correctly discriminate the brand as having been previously seen or heard. 0 Brand recall: Brand recall relates to consumers’ aptitude to retrieve the brand from memory given the product category, the needs fulfilled by the category or a purchase or usage situation as a cue.
It requires consumers to correctly generate the brand from memory when given a relevant cue. 0 Top-of-mind brand: This is the brand name that first comes to mind when a onsumer is presented with the name ofa product classification. 0 Dominant Brand: The ultimate awareness level is brand name dominance, where in a recall task; most consumers can only provide the name of a single brand. According to Aaker (1996), for new or niche brands, recognition can be important. For well-known brands recall and top-of-mind are more sensitive and meaningful.
Brand knowledge and brand opinion can be used in part to enhance the measurement of brand recall. CHAPTER 3 ANALYSIS Number of samples collected: 100: 3. 1 GENDER OF THE RESPONDENTS Out of the samples chosen, maximum respondents were female and minimum espondents were male. ??? All the respondents were in the age group of 20-55 years.. SEX NO OF RESPONDENTS MALE 22 FEMALE 78 1. TABLE SHOWING THE GENDER OF THE RESPONDENTS ??? From the tale it is incident that the numbers of female respondents who are considered for the survey are 78%. ?? It is incident that 22% of the respondents were male. 1. CHART SHOWING THE GENDER OF THE RESPONDENTS 3. 2 OCCUPATION OF THE RESPONDENTS Maximum number of respondents were students Occupation Number of Respondents 67 Public Sector Employee 15 Private Sector Employee 10 others 5 Business people 3 2. TABLE SHOWING THE OCCUPATION OF THE RESPONDENTS From the table, the survey regarding the occupations of the respondents: i. the respondents belong to “Public Sector”. it. 10% of the respondents to the “Private Sector”. iii. 3% of the respondents are “Business Men”. 5% of ‘v. 67% of the respondents belong to “Student Community’. v. 5% of the customers are comprised with the other type of category. 2. CHART SHOWING THE OCCUPATION OF THE RESPONDENTS 3. 3AMWAY IN INDIA IS BOON OR BANE the respondents said that the Amway in India is bane BOON 62 BANE 38 NO OF RESPONENTS 3. TABLE SHOWING THE AMWAY IN INDIA IS BOON OR BANE From the table the following factor are observed regarding Amway in India is Boon or Bane: i. 62% of the respondents answered that Amway in India is Boon. it. 38% of the respondents answered that Amway in India is Bane. . CHART SHOWING THE AMWAY IN INDIA IS BOON OR BANE 3. 4 FAMILIARITY Out of 100 respondents, many of them use it only sometimes FAMILIARITY NO OF RESPONENTS Use it only sometimes 54 I am aware but have never used it 30 Use it on a regular basis 1 1 Never heard of it 5 4. TABLE SHOWING THE USAGE OF AMWAY PRODUCTS i. 54% of the respondents answered “Use it only sometimes”. it. 30% of the espondents answered “l am aware but have never used it”. iii. 11% of the respondents answered “Use it on a regular basis”. iv. 5% of the respondents answered “Never heard of it”. 4.
CHART SHOWING THE USAGE OF AMWAY PRODUCTS 3. 5PRODUCT FAMILIARITY Out of 100 respondents, Maximum respondents are aware of Nutrilite. PRODUCTS NO OF RESPONENTS Nutrilite 69 Satinique 50 Amla 49 Attitude 44 Personna 40 Dishdrops 23 Dyamite 13 L. O. C 10 Zoom 5 5. TABLE SHOWING THE USAGE OF AMWAY . 69% of the respondents are aware of Nutrilite . 50% of the respondents are aware of Satinique 49% of the respondents are aware of Amla iii. ‘v. 4% of the respondents are aware of Attitude 40% of the respondents are aware of Personna v. v’. 34% of the respondents are aware of Artistry vii. 3% of the respondents are aware of Dishdrops 13% of the respondents are aware of Dyamite ‘x. 10% of the respondents are aware of L. O. C x. 5% of the respondents are aware of Zoom 5. CHART SHOWING THE USAGE OF AMWAY 3. 6BRAND RECALL Out of 100 respondents, Maximum of 46 people is able to recall at least 2 products BRAND RECALL NO OF RESPONENTS 2 46 More than 3 31 1 17 None 6 6. TABLE SHOWING THE BRAND RECALL i. 46% of the respondents are able to recall at least 2 products li. 1% of the respondents are able to recall more than 3 products iii. 7% of the respondents are able to recall at least 1 products lv. 6% of the respondents are able to recall at least 1 products 6. CHART SHOWING THE USAGE OF AMWAY 3. 7MODE OF PROMOTION Out of 100 respondents, Maximum respondents are aware of Amway through Magazine MODE OF PROMOTION NO OF RESPONENTS Magazine 45 Television 41 Internet 10 Bill boards 4 of Amway by means of Magazine it. 41 % of the respondents are aware of Amway by means of Television iii. 10 % of the respondents are aware of Amway by means of Internet ‘v. % of the respondents are aware of Amway by means of Bill boards 7.
CHART SHOWING THE MODE OF PROMOTION 3. 8RATlNG THE QUALITY OF AMWAY Out of 100 respondents, Maximum respondents answered that quality of the Amway Good QUALITY NO OF RESPONENTS Good 48 Very Good 34 poor 10 Satisfactory 8 8. TABLE SHOWING THE QUALITY RATING i. 48% of the respondents answered that quality of the Amway is Good i’. 34% of the respondents answered that quality of the Amway is very Good iii. 10% of the respondents answered that quality of the Amway is poor ‘v. 8% of the respondents answered that quality of the Amway is satisfactory . CHART SHOWING THE QUALITY RATING 3. AWARENESS OF PRODUCT SERVICE AND OFFERS Out of 100 respondents AWARE OF PRODUCT SERVICE AND OFFERS NO OF RESPONENTS yes 63 NO 37 9. TABLE SHOWING THE AWARENESS OF PRODUCT SERVICE AND OFFERS i. 63 % of the respondents are aware of Amway products and service li. 37 % of the respondents are aware of Amway products and service 9. CHART SHOWING THE AWARENESS OF PRODUCT SERVICE AND OFFERS 3. 10 FACTORS INFLUENCE THECHOICE FOR AN AMWAY Out of 100 respondents, maximum respondents answered that factor influence the choice for an Amway “Product quality’. FACTORS NO OF RESPONENTS
Product quality 45 style 34 Advertisement/promotion 1 1 pnce 5 10. TABLE SHOWING THE FACTORS INFLUENCE THE CHOICE FOR AN AMWAY i. 45 % of the respondents answered that factor influence the choice for a Amway “Product quality’. i’. 34 % of the respondents answered that factor influence the choice for a Amway “Style”. iii. 11% of the respondents answered that factor influence the choice for a Amway “Advertisement/promotion”. ‘v. 5% of the respondents answered that factor influence the choice for a Amway “Price”. 3. 12PRlClNG OF AMWAY PRODUCTS Out of 100 respondents, Maximum respondents are answered that pricing of
Amway products is” Very High” PRICING NO OF RESPONENTS Veryhigh49 High 30 Middle 16 Low 5 1 1 . TABLE SHOWING THE PRICING STRATEGY OF AMWAY PRODUCTS i. 49 % of the respondents are answered that pricing of Amway products” Very High” it. 30% of the respondents are answered that pricing of Amway products”High” iii. 30% of the respondents are answered that pricing of Amway products”Middle” lv. 30% of the respondents are answered that pricing of Amway products”LoW’ 1 1 . CHARTS SHOWING THE PRICING STRATEGY OF AMWAY PRODUCTS 3. 12 PREFERENCE TO THE PRODUCTS WHICH ARE ADVERTISED AND ENDORSED BY
CELEBRITIES out of 100 respondents PREFERENCE TO THE PRODUCT, ENDORSED BY CELEBRITIES NO OF RESPONDENTS YES NO 66 12. TABLE SHOWING THE PREFERENCE TO THE PRODUCTS WHICH ARE ADVERTISED AND ENDORSED BY CELEBRITIES i. 34% of people are prefer the product, which advertised and endorsed by celebrities it. 66% of people do not prefer the product, which advertised and endorsed by celebrities 12. CHART SHOWING THE PREFERENCE TO THE PRODUCTS WHICH ARE ADVERTISED CHAPTER 4 4. 1 FINDINGS ??? Many of the respondents answered that AMWAY in India is boon. ???Most of the respondents were aware of Amway but less aware of Amway products. ? Many of the respondents were able to recall at least 2 Amway products. ??? Many of the respondents answered that they aware of Amway only by means of magazines. ??? respondents feel that price of Amway product is very high ???It also founded that product quality influence the choice for buying ??? Many of the respondents are not aware of product service and offers 4. 2 SUGGESTION From the Survey reports the suggestions that can be made are: Awareness programs: Still more awareness programs have to be implemented in order to attract more customers like:- ??? Increase advertisement campaigns.
Increase Electronic media usage for the awareness programs. ??? Establishment of Hoardings in rural areas also. Bringing awareness through issue of pamphlets in the newspapers ??? Price of Amway products can be made affordable to the people ??? Creating awareness about products available in Amway and their importance ???Creating awareness about product services and offers Amway has to increase the customer care centers in order to concentrate more on the customer’s queries and their problems. 4. 3 CONCLUSION BIBLIOGRAPHY 1) MARKETING MANAGEMENT – by Philip Kotler 2) RESEARCH METHODOLOGY – by C. R. Kothari 3) STATISTICS FOR MANAGEMENT