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Essay: How effective is the power of branding on the following retail stores?

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Introduction
This research project based on branding as well as marketing but mostly concentrated on the power of branding, this research project based on branding is to find out how effective and powerful a brand is on its customers in terms of components of a brand. The niche market is to attract customers. This area of research is being conducted because we find that other brands are more competitive than the others which tend to fall out of market and need to start growing through competitive brands like that of Pick n Pay and ShopRite. The aim of this research is to find out what attract customers to certain brands and not others. In terms of the research I will be comparing of how effective is the power of branding on the customers of Pick n Pay and that of ShopRite. Because a brand is a unique designs that, differentiate a product from that of its competitive in terms of their logos or slogans.
1. RESEARCH QUESTION
How effective is the power of branding on the following RETAIL STORES?
Using Pick n Pay and Shoprite to compare the following: the power of both brands, their strategies, aims, their target market as well as how they both maintain the stability of their brands to appear attractive to their customers and why customers choose to buy their brands. This would be assessed and discussed in terms of customer and loyalty, brand management, in reference as to how unique the brand is. As a result, it contributes to the sustainability of the economy.
1. In reference to my hypothesis the following will be discussed:
-The power of branding
-Their brand strategies
-The aim of branding
-Brand target market
-Brand management
2. What is a brand?
A brand is a unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer’s mind (see positioning). Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is known as a brand name.
Components of a clear branding
Having defined a brand we also tend to look at the components of what gives a brand an identity this brand identity comes with its own components.
Looking at the components of pick n pay compared to that of ShopRite is the logo. The logo is the main thing that attracts customers to the retail stores. Comparing these two brands. Pick n pay appears to be colorful, clear, eye catching and readable to its customers even from a far place, compared to that of ShopRite, because ShopRite basically uses one color of shade which may attract a few customers as well as the quality of their goods. Both these brands are good and appear clear to the people, but this is all dependent on the target market of each store. Therefore, what I see, that makes pick n pay competitive as well as attractive, it’s because it is a well-known brand mostly prepared by many people while ShopRite is a retail store that is there to accommodate less fortunate people within communities. These components of branding are what creates the image of the company as well as make the brand recognizable. Having discussed the components of branding these two retail stores also have to apply the seven Ps of marketing which are as follows:
1. Product: pick n pay and ShopRite has to ensure that they are delivering the products to their consumers on time and willingly.
2. Price: these retail stores need to make sure that the products and services are only worth what potential consumers are willing to pay for them. For example, ShopRite would always consider lower prices for its customers that pick n pay do.
3. Place: were your consumers buy your product, these retail stores need to make sure that the place is convenient and effective. Those products are available at the right place, time and quality while keeping the storage and costs at an acceptable level.
4. Promotion: promotions include branding, advertising, public relations, corporate identity, personal sales management, special offerings and exhibitions there is all about gaining the correct level of attention and appealing to your consumers to choose their stores among that of their competitors.
5. People: it is important to make contact with your consumers because you become an impact on them. The reputation rests in the hands of the people, to make sure that those that make contact with the consumers that they are correctly trained for their jobs, to ensure that there is no gap in between the working place.
6. Process: ShopRite and pick n pay should ensure that all details that are considered by the consumer are given in an appropriate manner for example through a SMS or cellophane number.
7. Physical evidence: this is where the consumer decides to buy tangible or intangible goods via the internet that could be risky however managed by pick n pay on line shopping.(www.studyingbusiness.co.za)
Their target market
These are the product brands that I will be comparing from ShopRite and pick n pay, to compare their qualities as well as their target market.
Specific products and brands
Tissues: The target markets for tissues are schools, households and companies
Books and pens: the target market for books and pens are schoolchildren, parents and companies.
Well these products were chosen to compare customer loyalty as well as the quality of the product, for example many people tend to buy tissues from pick n pay than ShopRite, because tissues from pick n pay are much thicker than tissues from ShopRite, while books from ShopRite are thinner than books from pick n pay. This tells us more about customer loyalty because customers tend to buy products that not of a good quality to serve money and not buy the expensive products from pick n pay.
Advantages and Disadvantages of Co-branding
Co-branding has various advantages, such as – risk-sharing, generation of royalty income, more sales income, greater customer trust on the product, wide scope due to joint advertising, technological benefits, better product image by association with another renowned brand, and greater access to new sources of finance. However, co-branding is not free from limitations. Co-branding may fail when the two products have different market and are entirely different. If there is difference in visions and missions of the two companies, then also composite branding may fail. Co-branding may affect partner brands in adverse manner. If the customers associate any adverse experience with a constituent brand, then it may damage the total brand equity.
3. Motivation as to why this area of research has been selected
This area of research is been selected because the power of brand management has reached a very high standard. I feel that brand competition has become very tough. That some of the well-known brands have to be co-brandings because they were not making its own their own. This section is been selected to compare one of the largest retail stores in South African industries, which produce large profits national and international, to find out what make them so unique and attractive to customers. I find this area interesting because it benefits South Africa as a country and the economy due to the tax contribution of these retail stores. This could be an advantage as well as a disadvantage. It is very interesting and convincing to see how brands over power its loyalty to its customers, with a good example of Pick n Pay.
The aim of the research
The aim of this research is to get an over view of branding strategies and how brands strategize and manage their customer loyalty. It also seeks to gather why some brands remain competitive while others fail due to lack of customer loyalty. In addition to this, we seek to see how strong brands come about.
4. INITIAL LITERATURE REVIEW
According to( source 1), branding is defined as an organization, service or product with a significant personality that is shaped by the perceptions of audience. (http://www.how-to-brand.com) while the business text book states that a brand is a unique character, for instance, a name, term, logo and design all combine to form a set which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors ((www.studyingbusiness.com
In comparison to the definition of branding ‘perception of audience’ (http://www.how-to-brand.com) is based on the component of the brand, the main component of the mark or an icon and the slogan is what attracts customers to your brand. The components of a brand are the same as the elements which ensures that the logo and the slogan of a brand appears colorful, with clear and readable from a far place for the store to be recognized by is customers. The components of a brand give a brand a corporate image, which reflects the values and the aim of the business as a whole. The corporate image of the brands builds the brand and a brand identity, which is based on the visual devices used within a company with guidelines included, to ensure that the identity of the company is kept coherent, which in return allows a brand as a whole to be well recognizable as pick n pay and ShopRite are.
In the business world competition has become so tough that other brands have to be presented by other well-known brands for example pick n pay to represent them to exist, for example at pick n pay they have no name brands as well as ShopRite. So branding comes with brand strategy in order for your brand to be strong. a strong brand can increase awareness of company and its offerings in a way it establishes strong feeling and reactions and a favorable view towards the company as a whole.
Out branding your competitors is a continuous battle for the hearts and minds of your customers. The proposition of your brand strategy makes must be very compelling, attractive and unique among that of your competitor’s offerings. The expectations consumers have for a product or service they buy is stronger than it’s ever been. As (source 2) states, ‘win the hearts and minds of your customers first, then the wallets later’. This means that creating a positive emotional association in your market for your product or services which is the main key. It can create want and desire by the mere mention of your brand, product or service name. that is powerful, good branding practice and a time-tested relationship between you and your customers is based on intrigue, trust, understanding as well as support. http://how-to-brand.com.
When branding you need to know what your brand promises to the people as well as that promise should be valid because if your company’s products and services don’t live up to their brands promise, new customers will become lost customers, and this will lower your customer loyalty. Whatever your brand promises should always be the best. In order to create a promising brand as well as create an emotional connection with your consumers like pick n pay, which we pick up by the slogan ‘inspired by you’ create a warm atmosphere because it phrases that everything that pick n pay does it is because of the customers. Your brand should be grounded in the brands core values, it must be relevant and engaging to your target market, creates a positive attachment being good, adoptable to business climate and must be known and echoed by business partnershttp://www.how-to-brand.com. However, for you to have a strong brand you need to know the meaning of important concepts as well as brand management.
Brand management is developing you promise as well as maintaining it, brand management is an art of creating and sustaining a brand. In addition, make customers committed to your business. A strong brand differentiates your brand from that of your competitors. This includes managing the intangible and tangible brands. Tangible brands are the product itself, the price, packaging while intangible includes the emotional connections with the product/service. According to (source 3) brand, management is about capturing the target market for your product/service and it is about creating a confidence in current and perspective customer’s minds, that you are the unique solution to their problems. For example, ShopRite offers low prices to customers who do not have enough on their pockets (the aim of branding is to convey brand message vividly, create customer loyalty, and persuade the buyer for the product and establish an emotional connectivity with the customer) the primary aim is to create differentiation as (source 2) states. A successful brand like that of pick n pay and ShopRite remain competent by follow upon the brand management system..http://managementstudyguide.com/brand-management.htm.brand management creates customer loyalty because brand loyalty is when the consumer fears purchasing and consuming products from another brand, which they do not trust. Brand loyalty is measuring through the word of mouth publicity, repetitive buying from the same store, price sensitive, commitment, and brand trust and customer satisfaction. Which pick n pay does very well by offering smart shopper cards in which points are earned by the customers (source 11) to show the appreciation of customers? Brand loyalty is the extent to which a consumer constantly bys the same brand within a product category, consumers remain loyal to the brand for as long as it is available. They do not buy from other suppliers within the product category. Brand loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the loyal consumer will stick to his/her brand or provider. According to (source 4) greater loyalty, levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. It restrains new competitors in the market. This is one of the key components of brand equity.
Brand loyalty developed through quick service, ensuring quality products, continuous improvement and wide distribution network, as brand loyalty increases, customers will respond less to competitive moves and actions. Loyal customers remain committed to the brand even I the prices are higher; they remain willing to pay, by doing so they promote the brand. A company having loyal customers will have greater sales, less marketing and advertising costs and best pricing. For example in this scenario, the pick n pay customers will remain loyal to their brand as long as they trust the brand no matter the price. While customers from ShopRite will also remain loyal to their brand because they trust the products as well as it suits their pockets. Therefore, in order for customers to remain loyal to their brands pick n pay as an organization should know their niche market, target them, support their products and offer schemes on their product as to ensure that customers repeatedly purchase the product. http://managementstudyguide.com/brand-loyal.htm.
Through brand loyalty, pick n pay and ShopRite can expand or extend their brands to what is as brand extension, which describes the common practice of using their brands on new products or services for varieties. For example, the pick n pay no- name-brand. However, brand extensions are not always logical or smart as (source 5) states, because they can be confusing. Because they are similar, for example, the Marie biscuits of pick n pay no name brands and those from ShopRite are more or less the same thing. Many people ask why use brand extension? Extending your brand like pick n pay and ShopRite, helps reduce the risk of a new product launch, the risk is shared. Those brand extension that succeed tend to differentiated from the original brand in order to attract new buyers, encourage consumers to choose a variety. To make sure and ensure successful brand extension, pick n pay and ShopRite need to have a compelling benefit that offers customers something relevant, to not accept the increase of unit sales for extended product or service at an expense of the original brand.. http://www.how-to-branding.com/Brand-Extensions.html.
Brand equity is the value and strength of the brand that decides its worth whereas equity is the values of customers. According to (source 6) brand and customer equity have two things in common, both stress significance of customer’s loyalty to the brand and both stress upon the face that value is created by having as many customers as possible, paying as high prices as possible. However, they emphasize on lower line financial value got from customers, brand equity attempts to put more emphasis on strategic issues in managing brands like shopRite.http://managementstudyguide.com/brand-customer-euity.htm.
Co-branding is the combining of two or more brands to make a new product. The ingredient brands help each other to achieve their aims. An example the no-name-brand(source 6) .there are two types of co-branding ingredients which implies using a renowned brand as an element in the production of another renowned brand. The ingredient brand should be unique. Ingredients of co-branding leads to better quality products, superior promotions and more access to distribution channels and greater profit. Then we have composite co-branding which is the use of two renowned brand names in a way that they can collectively offer a distinct product/service that could not be possible individually.(source 7) outlines that the success of composite branding depends upon the favorability of the ingredient brands and also upon the extent on complementarities between them.
Co-branding has various advantages, such as ‘risk-sharing, generation of loyalty income, more sales income, greater customer trust on the product, and wide scope due to joint advertising, technological benefits, and better product image by association with another renowned brand. Although it is not free from limitations.co branding may fail when two products have different market and are entirely different. If there is a difference in visions and missions of the two companies, composite branding may fail. It may also affect partner brands in adverse manner. http://managementstudyguide.com/co-branding.htm.
Brand building takes a greater length of time and measures brand building is about communicating and exposing your brand to your customers as well as to your consumers. There are three types of brands: service brands that are built on knowledge, culture and experience. Retail brands that are built on a mixture of products and service experience however with one specific product.(source 8) in order for you to build a successful brand you need to define your brand either pick n pay and ShopRite , these retail stores have to differentiate and position their brands, expose their brands to the people, personalize their brands for it to be successful and renew their brands. https://smallbusiness.yahoo.com.
You can brand however, you please but remember that your brand is nothing without the satisfaction of customers, the promise or great products using experience without a consumer. Branding helps customers closer to your product not replace or complete the experience. As (source) says, win the hearts, minds, and wallets later. The main thing about branding is the logo so these two retail stores pick n pay and ShopRite. Because the logo helps, customers recognize and identify the brand from the far distance. ‘A good brand cannot save a bad product or service, but imply the message of a good product for sure’ (source 10). http:www.brandxpreaa.net/2011/11/using-brand-the-right-way/.
5. LIST OF POSSIBLE REFERENCES AND SOURCES
-NSC business textbook: www.studyingbusiness.co.za
Contributing author: Zain Stardom
Page: 122, paragraph (1).
Published: 2013/2014
-World dictionary: written by Clarence L. Barnhart and Robert K. Barnhart
Published by: William H. Nault, editorial director and Robert O. Zeleny, Executive Editor
Published by the Inc a Scott fertzer company in 1983
Volume: A_K
-Encyclopedias: the world book
Volume: two (2)
World Book, Inc
A Scott fertzer company
Copy writes c 1983
Page: 125
-pamphlets /flyers: published by pick n pay
Year published 2014-04-03
Methodology
PRIMARY SURVEY
-Interviewing people accompanied by questionnaires.
Sample of questions to asked:
1. Why do you shop at pick n pay or ShopRite?
2. What attracts you to pick n pay or ShopRite?
3. What do you benefit from buying products of these retail stores?
4. What makes you trust these brands?
5. What do you want to see when you enter these retail stores?
QUESTIONS LIKELY TO BE ASKED
1) HOW DO YOU MAINTAIN YOUR BRANDS?
2) WHAT WOULD BE THE STRENGTHS AND WEAKNESSES YOUR BRAND?
3) WHAT ATTRACTS CUSTOMERS TO BUY CERTAIN BRANDS THAN ANOTHER BRAND?
4) WHAT IS UNIQUE ABOUT YOUR BRAND?
METHODOLOGY
The methodology of the project is to simply find out how a specific brand name comes about, why certain brands are more competitive than the others, what makes them unique are are and stand out to its customers. This will entail what the exercise of branding has brought among the well-known retail stores.
I am doing a secondary based research which will show the methods used when collecting the data to analyze branding.
OVERVIEW
My research question is.
How effective is the power of branding on customers?
‘ Define branding
‘ The advantages and disadvantages of co-branding
‘ The importance of branding
‘ Strategies used when branding
‘ How effective branding is
‘ Compare the brand of Pick n Pay with that of Shoprite
‘ Customer loyalty
THE AIM OF THE PROJECT
The aim of this project is to get an overview of branding and why it is important to implement branding. In addition, get ideas of how one can improve their own brands.
CHALLENGES FACE WHEN GATHERING DATA
-Struggled to get relevant sources, access to the internet was hard
-Time management was a challenge
-The good qualitative data took long to arrange.
– Most data was similar.
10 sources gathered to start the project
Branding, Identity & Logo Design Explained (source 1)
http://justcreative.com/2010/04/06/branding-identity-logo-design-explained/
A logo is not your brand, nor is it your identity. Logo design, identity design and branding all have different roles that together, form a perceived image for a business or product.
There has been some recent discussion on the web about this topic, about your logo not being your brand. Although this may be true, I haven’t seen any clarification of the differences between ‘brand’, ‘identity’ and ‘logo’. I wish to rectify this.
What is brand’? The perceived emotional corporate image as a whole.
What is identity? ‘ The visual aspects that form part of the overall brand.
What is a logo? ‘ A logo identifies a business in its simplest form via the use of a mark or icon.
To explain this in more detail, let us start at the top ‘ the brand.
What is branding?
Branding is certainly not a light topic ‘ whole publications &hundreds of books have been written on the topic, however to put it in a nutshell you could describe a ‘brand’ as an organization, service or product with a ‘personality’ that is shaped by the perceptions of the audience. On that note, it should also be stated that a designer cannot ‘make’ a brand ‘ only the audience can do this. A designer forms the foundation of the brand.
Many people believe a brand only consists of a few elements ‘ some colors’, some fonts, a logo, a slogan and maybe some music added in too. In reality, it is much more complicated than that. You might say that a brand is a ‘corporate image’.
The fundamental idea and core concept behind having a ‘corporate image’ is that everything a company does, everything it owns and everything it produces should reflect the values and aims of the business as a whole.
It is the consistency of this core idea that makes up the company, driving it, showing what it stands for, what it believes in and why they exist. It is not purely some colors, some typefaces, a logo and a slogan.
As an example, let’s look at the well-known IT Company, Apple. Apple as a company, projects a humanistic corporate culture and a strong corporate ethic, one, which is characterized by volunteerism, support of good causes & involvement in the community. These values of the business are evident throughout everything they do, from their innovative products and advertising, right through to their customer service. Apple is an emotionally humanist brand that really connects with people ‘ when people buy or use their products or services; they feel part of the brand, like a tribe even. Its the emotional connection that creates their brand ‘ not purely their products and a bite sized logo.
For a more thorough understanding of branding, in simple terms, I recommend Wally Olin’s: The Brand Handbook, which I quote, is ‘an essential, easy-reference guide to brilliant branding’.
What is identity design?
One major role in the ‘brand’ or ‘corporate image’ of a company is its identity.
In most cases, identity design iare based around the visual devices used within a company, usually assembled within a set of guidelines. These guidelines that make up an identity usually administer how the identity is applied throughout a variety of mediums, using approved colour palettes, fonts, layouts, measurements and so forth. These guidelines ensure that the identity of the company is kept coherent, which in turn, allows the brand as a whole, to be recognizable.
The identity or ‘image’ of a company is made up of many visual devices:
‘ A Logo (The symbol of the entire identity & brand)
‘ Stationery (Letterhead + business card + envelopes, etc.)
‘ Marketing Collateral (Flyers, brochures, books, websites, etc.)
‘ Products & Packaging (Products sold and the packaging in which they come in)
‘ Apparel Design (Tangible clothing items that are worn by employees)
‘ Signage (Interior & exterior design)
‘ Messages & Actions (Messages conveyed via indirect or direct modes of communication)
‘ Other Communication (Audio, smell, touch, etc.)
‘ Anything visual that represents the business.
All of these things make up an identity and should support the brand as a whole. The logo however, is the corporate identity and brand all wrapped up into one identifiable mark. This mark is the avatar and symbol of the business as a whole.
What is a logo? To understand what a logo is, we must first understand what it is for.
A logo is for’ identification.
A logo identifies a company or product via the use of a mark, flag, symbol or signature. A logo does not sell the company directly nor rarely does it describe a business. Logo’s derive their meaning from the quality of the thing it symbolizes, not the other way around ‘ logos are there to identity, not to explain. Concisely, what a logo means is more important than what it looks like.
To illustrate this concept, think of logos like people. We prefer to be called by our names ‘ James, Dorothy, John ‘ rather than by the confusing and forgettable description of ourselves such as ‘the guy who always wears pink and has blonde hair’. In this same way, a logo should not literally describe what the business does but rather, identify the business in a way that is recognizable and memorable.
It is also important to note that only after a logo becomes familiar, does it function the way it is intended to do much alike how we much must learn people’s names to identify them.
The logo identifies a business or product in its simplest form.
Summary:
Brand ‘The perceived emotional corporate image as a whole.
Identity ‘ The visual aspects that form part of the overall brand.
Logo ‘ Identifies a business in its simplest form via the use of a mark or icon.
Brand Strategy (source 2)
Standing out amid a massive chorus of competitors is a challenge for any company in today’s business climate. Want evidence? Look at any magazine, TV show or surf the Internet. The number of offers and sales pitches one receives on a daily basis is simply staggering and increasingly ineffective. It is no wonder, then, why businesses are seeking new and more effective ways of increasing the influence of their brand strategy in the marketplace. A strong brand strategy can increase the awareness of a company and its offerings in such a way that establishes strong feelings and reactions and a favorable view towards the company as a whole. To create this sort of ‘brand awareness’ in your market, it takes skillful Brand Strategy expertise.
Successfully out-branding your competitors is a continuous battle for the hearts and minds of your customers. The proposition your brand strategy makes must be very compelling, attractive and unique among competitive offerings. The proposition must also be consistently reinforced throughout all phases of an organization, from senior executives to customer service, research and development, business development and even your business partners.
What entails a comprehensive and effective ‘Brand Strategy process’? That’s a much longer answer than what we have space for here, plus it varies from industry to industry, but here are some very basic guidelines about what makes a good Brand Strategy.
Brand Strategy’what is the big deal?
Brand Strategy is nothing new. Yet, the expectations consumers have for a product or service they buy is stronger than it’s ever been. This is why companies interested in long-term success must create the most promising, targeted brand experience possible.
Whether you know it or not, you already have a brand, and your customers are having a ‘brand experience’ when they interact with you, whether it be with your products and services or the people in your company. In order to craft this ‘brand experience’ in a calculated way that is beneficial for your company, you must have a strong understanding about what exactly a brand is.
Brand is the Alpha and Omega
In other words, brand is the totality of your company and its business.
‘A brand is the sum of the good, the bad, the ugly and the off-strategy,’ says Scott White, one of the nation’s leading branding consultants and a valued expert companies like Sun Life Financial and Franklin Sports rely on. ‘It is your best and worst product. It is your best and worst employee. It is communicated through award-winning advertising as well as those ads that somehow slipped through the approval cracks and sank anything riding on them. It is your on-hold music and the demeanor of the receptionist who puts that valued client or prospect on hold. It is the carefully crafted comments by a CEO as well as negative buzz by the water cooler or in chat rooms on the Internet. Brand is expressed through written, audio and visual content. It is interpreted through emotional filters every human being has’where anything can happen. Ultimately, you can’t control your brand. You can only hope to guide it.’
The Road to Branding Success
Building on the inherent values of a brand should be the core of any branding strategy. If they’re not clear, get a good grip on them first. Is the brand about honesty or integrity? Quality? How about excellent communication and customer satisfaction?
Knowledge of a company’s values, at least in a literal context, is typically an internal matter; yet, those values become evident to everyone in contact with the company, from customers and prospective customers to business-to-business relationships and employee relations. Consistency is the key here. If members of the organization aren’t accurately representing the values of the brand, steps must be taken to rectify the chink in the armor. And unlike a brand’s key business proposition, values should never change even though the landscape in which the company operates and even its products may.
Winning brand strategies starts with top-notch research
With values set, a brand proposition is ready to be established. Objective and comprehensive branding research are the keys here. At a minimum, both must be done to establish clarity on the brand’s strengths and weaknesses, the target audience and the competition. If possible, branding research should also be done on the brand’s industry, its history, the status of the market and possibilities for future expansion.
Your target customer will determine your success
If it’s only possible to do one body of brand research, discover as much as possible about your target customer. Find out who they are and what their needs and desires are. Make it your mission to get as detailed information as possible on their age, gender, income, shopping habits (online and off) and anything else of relevance you can determine. If you’re targeting a business market, these criteria will differ, depending on the industry. Understanding your target market and what they want is key to developing a winning brand. Knowing these things should also give you an idea for what communication medium and content would work to engage your market.
Other research you might want to do is find out what your competitors’ offerings are like. How do your offerings stack up? What can a customer get from your product that they can’t get from anyone else? Find out these things, and you have the seeds for a winning branding strategy, not to mention great fodder for an ad campaign.
What does your brand promise?
The brand statement, often called the brand promise or proposition, is a derivative of branding research. It states the benefit of buying and using your company’s products or services. For clothing, it could be about style or comfort. For a car, it could be about safety or reliability. Whatever it is, it must be clear, engaging and presented in a context relevant to the customer. One example of an effective brand promise is that of BMW’s. It’s stated right in the company’s tagline: The Ultimate Driving Machine.
Your promise should be golden
If your company’s products and service don’t live up to their brand promise, new customers will become lost customers and loyal customers might leave, too. Simply put, your deliverable, what ever that is, must follow through on the promise’in fact, it would be best if it actually over-delivered.
Your promise should be unexpected, but welcome
Don’t reuse something a competitor has already promised even if it works for your product or service, and don’t be vague in trying to position your company favorably against your competitors (such as saying you’re ‘the best pizza in town.’). Be specific because specific is exponentially more memorable. Besides, people expect you to be good. Otherwise, they wouldn’t give you their business.
Hearts and minds first, wallets later
Creating a positive emotional association in your market for your product or service is key. It can create want and desire by the mere mention of your brand, product or service name. Needless to say, that’s powerful. For instance, the mere mention of Ben & Jerry’s conjures up images of numerous unique premium ice cream flavors and with the anticipation for your favorite (in my case, Cherry Garcia). Such positive emotional associations are built over time through good branding practice and a time-tested relationship between you and your customer based on intrigue, trust, understanding and support.
To create a brand promise that creates such emotional connections, it should be:
1. Grounded in the brand’s core values
2. Clearly relevant and engaging to your target market
3. Able to create some sort of positive emotional attachment beyond just being ‘good’
4.Repeated internally and externally within your organization
5.Adaptable to the business climate
6.Continually reinforced
7.Consistent across advertising and marketing mediums
8. Known and echoed by business partner.
Brand Management – Meaning and Important Concepts
Source3 Brand management begins with having a thorough knowledge of the term ‘brand’. It includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business.
Brand management includes managing the tangible and intangible characteristics of brand. In case of product brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product / service.
Branding is assembling of various marketing mix medium into a whole so as to give you an identity. It is nothing but capturing your customers mind with your brand name. It gives an image of an experienced, huge and reliable business.
It is all about capturing the niche market for your product / service and about creating a confidence in the current and prospective customers’ minds that you are the unique solution to their problem.
The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers. Branding forms customer perceptions about the product. It should raise customer expectations about the product. The primary aim of branding is to create differentiation.
Strong brands reduce customers’ perceived monetary, social and safety risks in buying goods/services. The customers can better imagine the intangible goods with the help of brand name. Strong brand organizations have a high market share. The brand should be given good support so that it can sustain itself in long run. It is essential to manage all brands and build brand equity over a period of time. Here comes importance and usefulness of brand management. Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent.
http://managementstudyguide.com/brand-management.htm
Brand Loyalty(source 4)
Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc. Brand loyalty is the extent to which a consumer constantly buys the same brand within a product category. The consumers remain loyal to a specific brand as long as it is available. They do not buy from other suppliers within the product category. Brand loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the brand loyal consumer will stick to his brand.
Brand loyal consumers are the foundation of an organization. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains new competitors in the market. Brand loyalty is a key component of brand equity.
Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love ‘you’ for being ‘you’, and they will minutely consider any other alternative brand as a replacement. Examples of brand loyalty can be seen in US where true Apple customers have the brand’s logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly menu system used by Nokia phones.
Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality. As brand loyalty increases, customers will respond less to competitive moves and actions. Brand loyal customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always. A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self- promote the brand as they perceive that their brand have unique value which is not provided by other competitive brands.
Brand loyalty is always developed post purchase. To develop brand loyalty, an organization should know their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product.
http://managementstudyguide.com/brand-loyalty.htm
Brand Extensions Beware (source5)
Brand extensions, or line extensions, describe the common business practice of using your brand name on a new product or service or new varieties or sizes’usually within the same category. More than half of all new brands brought to market each year are brand extensions. So, for instance, when Pepsi wants to market a diet cola, it ‘extends’ its brand equity’everything that has gone into building the brand that is the Pepsi generation’into the product called Diet Pepsi.
So why the ‘beware’ in the title? Because brand extensions are not always logical or smart.
So why use brand extensions at all?
In some cases, extending your brand into other products will help reduce the risk of a new product launch. Promotional costs, for instance can be combined into the marketing of the single brand name rather than multiple promotions. If your customers and prospects already have an affinity for your brand name, they may follow that brand when it’s attached to another, similar product. And extending your brand in the right way can you give you additional shelf space in a retail environment or additional ‘brand space’ in your prospects’ minds.
But there are some ‘bewares’ here, too. Consider the fact that if the new product’with the borrowed brand name’doesn’t resonate in the marketplace, the core or parent brand could be irreparably damaged. Next, consider brand cannibalization. Bud Light, for instance, has been eroding sales from the parent brand, Budweiser, and has recently overtaken it. Most companies only measure the growth of the extended brand and don’t consider the lost market share of the core brand.
According to a study by AC Nielsen, not all line extensions succeed at their mission of creating incremental sales. Those line extensions that do succeed tend to:
‘ Be supported by incremental rather than ‘borrowed’ marketing support
‘ Be well differentiated from the parent brand in order to attract new buyers
‘ Encourage consumers to ‘upsize’
When you see the How-to-Branding.com Toolbox, it designates that the following content is a tool, exercise, or technique you can use to help develop your affordable brand strategy.
Three steps to ensure an appropriate’and successful’brand extension
1. Make sure your extension has a compelling benefit and that it offers something your customers and prospects can’t get anywhere else. It must be relevant to their lives and be differentiated from other offerings, including your own.
2. Understand the role cannibalization can play. New product launches can chip away at existing brands. Don’t accept the increase of unit sales for the extended product or service at the expense of the parent brand.
3. Is there additional brand equity lurking in the new product or service? Should Volvo, the company that owns the brand known for ‘safety,’ really sell a convertible?
Do the ‘noun test’
Is your organization considering adding a new program, offering, or initiative? Before you extend your brand with something new, do what I call the noun test. Here’s how it works: Since a brand can only stand for one thing in the mind of your supporters or prospects, determine what that one thing is’your noun’and make sure your new program, offering, or initiative WORKS with that noun.
(Brand) is a (Noun)
Here’s an example:
Special K (brand) is a breakfast cereal (noun)
Yet, I Special K has some new products including something called Special K2O’ Protein Water, Special K Waffles, Special K Snack Bites, and Special K Protein Bars. Now, if you could argue that Special K (brand) is a diet and nutrition product (noun), then these line extensions would make sense.http://www.how-to-branding.com/Brand-Extensions.html
Brand Equity & Customer Equity(source6)
Brand Equity is defined as value and strength of the Brand that decides its worth whereas Customer Equity is defined in terms of lifetime values of all customers.
Brand Equity and Customer Equity have two things in common-
Both stress on significance of customer loyalty to the brand
Both stress upon the face that value is created by having as many customers as possible paying as high price as possible.
But conceptually both brand equity and customer equity differ.
While customer equity puts too much emphasis on lower line financial value got from the customers, brand equity attempts to put more emphasis on strategic issues in managing brands.
Customer Equity is less narrow alternative. It can overlook a brands optional value and their capacity effect revenues and cost beyond the present marketing environment.
Just as customer equity can persist without brand equity, brand equity may also exist without customer equity. For instance I may have positive attitude towards brands – McDonald and Burger King, but I may only purchase from McDonald’s brand consistently.
To conclude, we can say brands do not exist without consumer and consumer do not exist without brands. Brands serve as a temptation that utilizes other intermediaries to lure the customers from whom value is extracted. Customers serve as a profit-medium for brands to encash their brand value. Both the concepts are highly co-related.
http://managementstudyguide.com/brand-customer-equity.htm
Co-branding – Meaning, Types and Advantages and Disadvantages ( source 7)
What is Co-branding
Co-branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind. Example of co-branding – Citibank co-branded with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.
Types of Co-branding
Co-branding is of two types: Ingredient co-branding and Composite co-branding.
1. Ingredient co-branding implies using a renowned brand as an element in the production of another renowned brand. This deals with creation of brand equity for materials and parts that are contained within other products. The ingredient/constituent brand is subordinate to the primary brand. For instance – Dell computers has co-branding strategy with Intel processors. The brands which are ingredients are usually the company’s biggest buyers or present suppliers. The ingredient brand should be unique. It should either be a major brand or should be protected by a patent. Ingredient co-branding leads to better quality products, superior promotions, more access to distribution channel and greater profits. The seller of ingredient brand enjoys long-term customer relations. The brand manufacture can benefit by having a competitive advantage and the retailer can benefit by enjoying a promotional help from ingredient brand.
2. Composite co-branding refers to use of two renowned brand names in a way that they can collectively offer a distinct product/ service that could not be possible individually. The success of composite branding depends upon the favourability of the ingredient brands and also upon the extent on complementarities between them.
Advantages and Disadvantages of Co-branding
Co-branding has various advantages, such as – risk-sharing, generation of royalty income, more sales income, greater customer trust on the product, wide scope due to joint advertising, technological benefits, better product image by association with another renowned brand, and greater access to new sources of finance. But co-branding is not free from limitations. Co-branding may fail when the two products have different market and are entirely different. If there is difference in visions and missions of the two companies, then also composite branding may fail. Co-branding may affect partner brands in adverse manner. If the customers associate any adverse experience with a constituent brand, then it may damage the total brand equity.
http://managementstudyguide.com/co-branding.htm
5 Effective Brand Building Strategies to Attract Customers (source 8)
Brand building is an integral aspect of personal and business development. It not only increases the voice and consumer awareness of a brand, but it also gives it an identity and worth. The advent of participatory and interactive platforms has given many businesses the chance to enhance brand awareness and equity. If you have been thinking of building a personal or business brand, then it is important for you to know that brand building takes a great deal of time and resources. In the section that follows, we shall define brand building and also look at different types of brands and the steps to create a successful brand.
What Is Brand Building?
5 Effective Brand Building Strategies to Attract Customers
There is no one definition that actually captures the essence of brand building in its entirety. Many people think that brand building is all about communicating and exposing your brand. That is just one side of it. The best way we can define it is that it is a process of creating value to consumers. It encompasses all things that consumers know, feel, and experience about your business in its entirety.
Having defined brand building, we shall now look at 3 popular types of brands and what they stand for.
‘ Service brand- this brand is built on knowledge, culture, and experience that one has with the service delivering agency/company/people. Think of Geek Squad or Molly Maid.
‘ Retail brand- this brand is built on a mixture of products and service experience. Think of Chick-fil-a, Kroger, or KFC
‘ Product brand- is built on the experience that one has with a specific product. Think of Nike, Ford, or Sony.
Having looked at the 3 popular types of brands, we shall now proceed to look at steps involved in brand building.
1. Define Your Brand
The first stage in brand building is defining your brand. This is a very critical step as it ultimately determines what your brand truly stands for. When defining your business brand, you should create a checklist of its core strengths. Similarly, if you’re defining a personal brand, you should look at the skills and expertise that you possess especially those which stand out. On the same token, you also need to know what your brand stands for and what is important for your brand (brand values). Your values should in one way or another show that you are contributing to environmental, social, and economic well-being of consumers. You may not realize some of these important aspects of brand building immediately, until you look at them objectively.
2. Differentiate and Position Your Brand
Before embarking on brand building, you have to take time to differentiate it so that you can attract attention and stand out from competitors. To differentiate your brand, you have to create a unique advantage in the mind of consumers not merely getting attention by brand building colors or logos or other superficial elements. Once you come up with a unique value proposition, you should use a good branding strategy to position your brand in a way that will help consumers see and appreciate the greater value of your brand over competing ones in the market.
3. Build and Expose your Brand
As I indicated earlier, brand building is not a one off thing. Building a unique and powerful personal or business brand takes time and consistency. To build your personal brand, you have to keep reinforcing your values and skills by taking up new roles and assignments that will give you more exposure. Alternatively, you can use promotional channels, blogs, forums, and social media (LinkedIn, Twitter and Facebook) to create a voice for your personal or business brand.
When building your brand, you should also endeavor to develop brand personality (what people know, think, and say about you). This is what drives or motivates people to identify with and engage with your brand. The truth is; if you execute your brand building strategies consistently, then you will easily establish a pattern that will forever be associated with your brand name.
4. Personalize your Brand
If you want your brand building campaign or brandto be successful, then you have to personalize it. It is important to give your brand an identity. Let consumers see and experience the personality of your brand in its entirety. Look at your brand as something that a consumer wants to identify with pretty much as they would with their favorite cars, cellphones, or computers.
As you engage in brand building, you should also invite customers to be co-creators of brand values so that they can feel that they also own it and relate with it. Top brands encourage consumer-brand interaction by personalizing products to meet the needs and preferences of consumers. When you personalize your brand, you give consumers reason to participate and engage with your brand for a lifetime.
5. Review Your Brand
Your brand is not static; it will go through a range of motions in its lifetime. Depending on your brand strategies, your brand will either grow in strength, or remain dormant, or recede with time. In the brand cycle, new events, changes, and circumstances bring challenges and opportunities to enhance the value of your brand or re-establish it. All these possibilities should give you the impetus to take charge of your brand building activities.
As your brand name grows, so do the responsibilities and expectations to continue with brand building. The best way of ensuring brand growth is reviewing your activities and evaluating your successes through metrics such as levels of brand awareness and levels of engagements. Regular reviews will help you seize and exploit new opportunities while upholding your commitment to remain true to your vision and brand strategy. It will also help you steer your brand in the right direction and keep it relevant as you move into the future.
As you can see, brand building is not a one off thing. You have to define your brand, differentiate, present it, and review what your brand stands for from time to time. It is very important to be clear about your branding strategies and how you’re going to implement them. You should also adopt brand strategies that will add value to your consumers and help them develop the right impression of your company and what it truly stands for.
https://smallbusiness.yahoo.com/advisor/5-effective-brand-building-strategies-attract-customers-130008670.html
5 Benefits of Branding (source 9)
Almost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a brand.
Branding is the process of creating distinctive and durable perceptions in the minds of consumers. A brand is a persistent, unique business identity intertwined with associations of personality, quality, origin, liking and more.
Although most people associate brands with big companies, the smallest of enterprises can use branding techniques with great rewards.
Recognition and Loyalty
The main benefit of branding is that customers are much more likely to remember your business. A strong brand name and logo/image helps to keep your company image in the mind of your potential customers.
If your business sells products that are often bought on impulse, a customer recognising your brand could mean the difference between no-sale and a sale. Even if the customer was not aware that you sell a particular product, if they trust your brand, they are likely to trust you with unfamiliar products. If a customer is happy with your products or services, a brand helps to build customer loyalty across your business.
Image of Size
A strong brand will project an image of a large and established business to your potential customers. People usually associate branding with larger businesses that have the money to spend on advertising and promotion. If you can create effective branding, then it can make your business appear to be much bigger than it really is.
An image of size and establishment can be especially important when a customer wants reassurance that you will still be around in a few years time.
Image of Quality
A strong brand projects an image of quality in your business, many people see the brand as a part of a product or service that helps to show its quality and value.
It is commonly said that if you show a person two identical products, only one of which is branded; they will almost always believe the branded item is higher quality.
If you can create effective branding, then over time the image of quality in your business will usually go up. Of course, branding cannot replace good quality, and bad publicity will damage a brand (and your businesses image), especially if it continues over a long period of time.
Image of Experience and Reliability
A strong brand creates an image of an established business that has been around for long enough to become well known. A branded business is more likely to be seen as experienced in their products or services, and will generally be seen as more reliable and trustworthy than an unbranded business.
Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality.
Multiple Products
If your business has a strong brand, it allows you to link together several different products or ranges. You can put your brand name on every product or service you sell, meaning that customers for one product will be more likely to buy another product from you.
http://www.brandxpress.net/2005/10/5-benefits-of-branding
Using branding the right way(source 10)
Branding itself has no value for neither customer nor product. A logo, a slogan, a promise do not have any value for nobody without the customer satisfaction, without a promise kept, without a great product using experience.
Branding is destined to help remember, to get the customer closer to your already excellent product, not to replace or complete the experience. Your business need a good branding strategy, but if someone imagine that a good branding strategy will replace some missing promises of your product, or an incomplete experience then is in a deep mistake.
The logo or the packaging will definitely help customers recognize your brand, but considerig these as branding is kind of shallow. Branding is way more than the visual part of it, usually associated with the branding process. Brading consist in a more strategic thinking that should be focused on the customer experience, promises made and kept.
A good branding cannot save a crappy product or service, but will amplify the message of a good product for sure.
A article in inc Magazine debates controversially on the subject. But, if you keep in mind the ‘disclaimer’ in the start of the article,
By ‘branding’, I mean the panoply of marketing activities like brand-focused advertising, packaging, marketing materials, logos, taglines, and so forth. In almost every case, money spent on these activities is money wasted.
and read it with that key in mind, it kind of makes sense.
Once customers start thinking your product is garbage, there is no amount of ‘branding’ that can change the perception. In fact, attempting to use ‘branding’ to fix a product problem always backfires. All it does is call attention to the difference between the brand message and what the customer knows is true.
By contrast, if customers love your product, then the brand will reflect that love. Of course, you can use the some of the tools of ‘branding’ to help spread the word, but the keystone is always the customer’s experience
http://www.brandxpress.net/2011/11/using-branding-the-right-way/.
Questionnaire to customers of Pick n Pay
1. Why do you shop at Pick n Pay?
2. Where did you hear about Pick n Pay?
3. What attracts you toPick n Pay?
4. What type of brand do you buy from Pick n Pay, no name or the other?
5. Do you think that pick n pay has reasonable prices?
6. Does Pick n Pay provide you with good quality products?
7. Would you say that Pick n Pay meets your expectations as a buyer?
8. Would you consider Pick n Pay changing the way they market their brand?
9. Do you have a smart shopper card?
10. As an individual would you advise someone to have a smart shopper card? If so why.
11. Do you ever consider shopping else were rather than Pick n Pay?
12. What do you think about Pick n Pay as a retail store?
Questionnaire to customers of ShopRite
1. Where did you hear about ShopRite?
2. Why do you shop at ShopRite?
3. What attracts you to ShopRite?
4. Do you think that ShopRite has reasonable prices?
5. Does ShopRite provide you with good quality products?
6. Would you say that ShopRite meets your expectations as a buyer?
7. Would you consider ShopRite changing the way they market their brand?
8. As an individual would you advise someone to have a smart shopper card? If so why.
9. Do you ever consider shopping else were rather than ShopRite?
10. What do you think about ShopRite as a retail store?
11. Does ShopRite help you save money?
Questions to the CEO of Pick n Pay
1. How do maintain your brand?
2. How do you describe your brand?
3. How do you describe your customers?
4. What does your brand promise to the people?
5.
6. How do you keep in contact with your customers?
7. How successful has the smart shopper card come about?
Questions to the CEO of ShopRite
1. How do maintain your brand?
8. How do you describe your brand?
9. How do you describe your customers?
10. What does your brand promise to the people?
11. How do you keep in contact with your customers?
12. How do you accommodate your customers in terms of prices?
Reference
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Analysis, interpretation, and discussion of findings
Processing of findings based on the customers of Pick n Pay
1. Why do you shop at Pick n Pay?
The loyal customers at Pick n Pay said that they shop at pick n pay because pick n pay provide them with good, and high quality goods and services at the right place, at the right time with reasonable good and affordable prices, which they believe that other stores would not be able to provide them with, the same qualitable products. Others shop at pick n pay because they say that the goods of pick n pay is cheap, which is good if customers see things the way the company planned.
2. Where did you hear about Pick n Pay?
Amongst the ten interview that I have interviewed said that, they heard about Pick n Pay on television through advertisements, which attracted them to Pick n Pay and others said that they heard about pick n pay through the word of mouth, which tells us a lot that pick n pay provide satisfying products, which customers like and the loyal customers tend to spread the word of mouth to others and the others hear about pick n pay from their parents, because they trust the product and believe others would also fall in line with joining pick n pay.
3. What attracts you to pick n Pay?
A lot of loyal customers of pick n pay said that the quality of goods and services that pick n pay provide them, attracts them to the brand, which brings us to the fact that pick n pay is not just a retail store but can also be considered as a bank because when customers goes into a pick n pay store, the customers can withdraw money from an ATM in pick n pay, pay bills like electricity or pay DSTV or even buy the prepaid electricity, petrol, all these services attract people to pick n pay, because you can get all you need in the pick n pay store ‘an all in one’ store instead of travelling far distances, which also in return helps its customers serve money. Because it is said that ‘win the hearts and minds of your customers first then wallets later’ which is what pick n pay does as one of its strategies.
4. What type of brand do you buy from pick n pay, no name or the other?
Many customers say that they buy both products either the no-name brand or the other because they all consider them as good products.
5. Do you think that pick n pay has reasonable prices?
Majority of the customers answered yes to this question, as they included by saying that as long as pick n pay provide them with satisfying goods and services, there is nothing to complain about when it comes to the pricing issues. In this case, the customers outlined that, the prices of pick n pay are very much reasonable depending on the quality of goods and services that they provide.
6. Does pick n pay provides you with good quality products.
Customers said yes, for the fact that pick n pay is one of the largest stores in south Africa and other African countries, people say that pick n pay does provide good quality products, which are hygienic, with the way it is processed as well as the way the goods are being packaged, which is nothing to complain about, as well as the new package bags that pick n pay has created and make it simple for the customers to identify the items easier with a see through side. Which I saw when I enter into a pick n pay store.
7. Would you say that pick n pay meets your expectations as a buyer?
All the customers said yes, and included by saying firstly that of all the employees of pick n pay attend to their needs in a kind and respectful way, which is what every customer’s expectation which gives them a welcoming atmosphere. Secondly the products, whenever a customer enters into pick n pay, they can never walk out empty handed because pick n pay always has all that a customer needs at all times and also as a customers, they said, if you think that the product does not satisfy them, they can always take it back in return for a new item, this rule is also stipulated in the consumers protection act.
8. Would you consider pick n pay changing the way they market their brand?
The loyal customers answered no, because they love the way pick n pay reach for its customers simply through the flyers as well as the adverts on televising.
9. do you have a smart shopper card?
Many said yes that they do have the smart shopper card which was proved by the cashiers on the counters who serve the customers daily and also still encourage others to have it due to the benefits that it brings to the pick n pay customers.
10. as an individual would you advise someone to have a smart shopper card? If so why?
Many answered yes although others were doubtful, however amongst those whom had doubts there were those that considered others to have a pick n pay smart shopper card. Many said that they advise those who are loyal customers to pick n pay to have a smart shopper card, because it’s everyone who is interested to gain points in return to have more items. The more you buy and spend the more points you would earn.
11. Do you ever consider shopping else were rather than pick n pay?
Many said no however, others said yes in the case of an emergency considering pick n pay being very far from them.
12. What do you think about pick n pay as a retail store?
Customers consider pick n pay as a very successful brand that offers very good services and products to its customers and should continue to do so because it serves them better.
Processing of findings on ShopRite
1. Where did you hear about ShopRite?
Many said that they heard about ShopRite from friends and others by word of mouth, while others through reading newspapers as many news papers contains a section which has ShopRite advertising about their products.
2. Why do you shop at ShopRite?
Loyal customers of ShopRite said that they shop at ShopRite because of the cheap prices that ShopRite offers, because it is the only large store that seem to have affordable goods to satisfy their needs.
3. Do you think that ShopRite has reasonable prices?
Without any further questions, it was a definite question as ShopRite offers lower prices affordable for every individual.
4. Does ShopRite provide you with good quality products?
People said yes, and also included by saying that many people tend to say that ShopRite offers lower prices because the quality of goods are not satisfying which many emphasized on being false, because they said that you would find the same product with the same quality being sold cheap in ShopRite but expensive in others stores which is good.
5. Would you say that ShopRite meet your expectations as a buyer?
Customers said yes, because ShopRite does not only provide affordable goods and services to its customers but also helps them save, what more can a customer ask for unless if change is demanded.
6. Would you consider ShopRite changing the way they market their brand?
Many said no because ShopRite reach out for poor communities in far destination.
7. Do you ever shopping else were rather than ShopRite?
Many said yes unless there is change in there residential area were ShopRite is not yet established but would always remain loyal customers to pick n pay.
8. What do you think about ShopRite as a retail store?
Many think that it is a store that has being there to serve those that are less fortunate to be able to manage and feed their families, by winning the hearts and minds of its customers and wallets later.
9. Does ShopRite help you serve money?
The majority answered yes because even the poor can manage to buy food.
Conclusion
Based on the processing of findings in relation to my literature review in comparison to pick n pay and ShopRite, is that branding has become the most effective component of many retail stores such as pick n pay and ShopRite. These stores have been able to strategize and I line with their mission and vision statement to capture the attention of customers through the power of branding. Pick n pay and ShopRite have been able to expand rather stretch their brands to customers by making their brands unique compared to that of their competitors. These stores have also been able to consider using the triple bottom line through economic prosperity by employing the unemployed, by encouraging social responsibility through partnership with other organizations and considering environmental sustainability by encouraging communities to develop gardens that would be sustainable as well as skills.
Branding has become the main tool for these stores to make in terms of operating locally or even in other African countries because these stores have recognized that through the components of branding, can the customer recognize the store from that of you competitors and through branding, can your customers become loyal. In terms of branding, pick n pay and ShopRite have achieved that goal and in return coroneted with my hypothesis that was my main aim of this research task. In return, the customers felt welcomed by the slogans of both these retail stores. In the case both stores have managed to win the hearts and minds of their customers firstly and their wallets later. Through conducting this research I found that what maters the most to the customers is the quality of the products and the reasonable prices because without customers there will be no business.
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