In the present developing and contemporary day world, consumerism has dominated all the aspects of life. The life in the society follows the pattern of the capitalist culture where the human values have a various measure, ‘you are understood by what you have not by what you are’.
This naturally leads to the life in a society where everyone wishes to have a distinct place in the society, by possessing the things which sets them apart from the rest of individuals in the society.
In present society and living way, the Brands not only represent the sign of the business or item but to a larger extent specify the basic life of an individual. What the person utilizes can show his taste of life, his status in the society, his financial background and many other things. This makes a deep connection in between the business and its brand name, with the customer. In this two method relation both are reliant on each other for various different factors.
In today’s time clients are very deeply connected to the brands. When they purchase any item like a vehicle, mobile, products of everyday need, trademark name influence the consumer’s choice.
Some clients purchase the specific top quality things just due to the trademark name. Consumers believe that brand name is a symbol of quality.
I discovered this fascinating and wished to learn whether brand affects the customer choice when they choose purchasing any item. I picked to for the particular product because this is among the products which got my attention due to the fact that of lots of factors.
Initially the cars and truck production was controlled by few business and a couple of countries. With the time, the market began to grow and as soon as considered to be elegant commodity, automobiles ended up being a need rather than an option. This increased the demand and with that lots of more business got in the arena to have their share of revenue and make use of the growing market. This made the business to put more efforts and cash to developing brand awareness of their item.
With the Substantial sum of cash and effort invested by the business to produce the awareness of their brand in the market, many concerns arise; does this truly impact the buying decision of the consumer? Does the brand awareness in some way affect the sale of the item? Etc
On the basis of these questions, I formulated my problem as follows:
The purpose of this thesis is to create deeper consideration of what influence a brand name can have, when people go for purchasing, choose the products between different brands in automobile industry. Further I want to identify, if there is a connection between brands and the consumer decision making process.
I conducted this study based on theories and surveys. I analyzed the result of the survey in order to be able to draw conclusions and find answers to my problem.
I came to the conclusion that when consumer purchases a car, brand names influence his choice. Customers choose the well known branded car among other brands which are new or not so known.
The study shows that branded cars have a great place in consumer mind, when customers go for purchasing a car, they prefer to purchase a well known branded car. Customers do not want to try new or unknown branded cars because they have no much information about the lesser known brand. Usually, people purchase well known branded cars because they might have heard before about brands or they have some information about them from other sources.
This makes customer feel more comfortable during the time of decision making as they are not so confident about the knowledge they have gathered about the other brands.
The consumers are very conscious about branded and unbranded cars because they have the view that branded cars are more reliable than unbranded car. This study also explains that customers trust the branded cars’ quality. Before purchasing a car people do not consider the lesser known brand car, as people are very attached to some specific brands. Some people are loyal to specific brands, over time they want to purchase the same branded car because the specific brand has satisfied the customer’s needs and in turn has gained the trust in the brand name.
I feel that the purpose of this study has been fulfilled to some extant. The theory describe that brand name has a power, which attracts the customers towards branded products. The reason is that customer gets special connection with specific brands product and become the loyal with brand.
Cite this essay
Influence of Brand Name on Consumer Decision. (2016, Oct 13). Retrieved from https://studymoose.com/influence-of-brand-name-on-consumer-decision-essay