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We have given the topic related to the impact of Logos and symbols of a particular brand
on the customer’s mind and to what extent all these logos and symbols attracts a
customer to visit a retail store. But before discussing all these things we should know
what a brand is and what are its functions?
So we should try to know that can a brand attract a customer to visit a retail store and if
yes than to what extent. This is what we have tried to know in our project.
OBJECTIVE
Primary objective-
To know that how logos, symbols of a particular brand impact on customer’s mind
and how it attract the customers to visit a retail store.
In this context we have to say that it can really helps to customer in good product
selection and good brands give satisfaction, confidence. These things really help to retain
customer and helps a good long term relationship.
Secondary objective-
We also want to know that how these things affect on the market competition.
HYPOTHESIS :
As the topic is given to us, we assumed some points which are as follows:
1 We assumed that logo, symbol of a brand will help to the customer to choose to buy
the brand from particular retail store.
2. We also assumed that pride of association in which customers believe they are valued
and respected for the business they provide, reflected in the form of courtesy, special
treatment and more importantly, respect.
3 Starbucks is a perfect example: loyalists of the coffee chain will tell you that they can't
imagine life without its coffee. They will walk five blocks to get their daily dose of
caffeine from a starbucks outlet rather than settle for a cup from the nearby café. There's
a sense of pride as well as passion about such brands.
To accomplish this project we have visited a few of the Retail stores in Delhi like –
Ebony, Shoppers stop, Big-jois etc.
During our visit we have seen that some of the stores are specialty stores but few of them
are not. Like Ebony we have seen that in this retail store they keep shirts, trousers of
different brands like Arrow, Van-Heusen, Monticello, Givo, Reymonds, parks etc.
So we have talked to the people visiting the retail store and asked them about their reason
to visit the store. And we tried to know that have they got influenced by the logos and
symbols of the brands present in the store or what.
We have also tried to know the perception of the store keepers about their experience that
what they think about the impression of the logos and symbols of a particular brand. And
does it attract the customer to visit the store.
We have given our result in the finding part of the project report.
In this part we have given our result store by store that what we have found in each store
was there any difference in the perception of the customer as the product got changed in
different store. Like for Shirts and trousers the customers are visiting the store just by
getting influenced by the logos and symbols of brand and in other products like FMCG
the customer are again visiting the store by getting influenced by the brands of the
product.
FINDINGS
Many factors determine a consumer’s perception of a product’s quality and price. This
study explores how the presentation of a coupon’s discount can influence a consumer’s
judgment of a product’s price and quality. The author conducts three experiments in
which participants evaluate perceived quality, the value of a promotion, and purchase
intentions.
When planning coupons, promotion managers should realize a coupon’s discount amount
has a communication effect that influences consumers’ perceptions of both product
quality and price. When a large face value is used, it is best to provide information on
regular prices to minimize the likelihood that consumers will infer that the product’s
regular price is high.
Price tolerance is the degree to which consumers accept price increases without
expressing measurable resistance. Price tolerance is important for promotion pricing
because frequent price promotions sometimes lead consumers to establish reference
prices that are below a brand’s regular price. When price tolerance is high, setting prices
at the regular price level, or higher, does not dissuade consumers from purchasing the
brand.
So Price v/s good brand is always a matter of discussion but we can easily say that if a
product has a good brand image than it can charge higher prices than its competitor
because a good brand image means that the product has good quality and perception in
the mind set of customer.
1. We have visited few retail store in Delhi. We had talked with the customers in the
retail store. The most important part we had found that their were multiple brands
present in the retail store.
2. During the visit in ebony we found that most of the customers were coming for
formal & fashionable garments and for the brands like Arrow.
3. There are variable numbers of formal cloths of brand available in the retail
outlet that’s why professional peoples visit the outlet frequently.
4. We found that mass number of customer came at the evening time& we found
that their was good management in the retailer outlet.
5. We found that the retail outlet was well decorated with lights to attract the
customers.
6. We found that many retail outlets provided many facilities to the customer .for
example garden, parking facilities.
7. We found that customers get every kind of things easily whether it is a personal,
household & daily uses product.
8. During the visit, we have talk to the customer about that why they are come in
these retail outlets. They said that because of the presence of that brand.
9. During the visit we asked to the teenaged girl’s why they are visiting the outlet
.they said that availability of cosmetic brand like – Loreal, Ele -18, Granier etc. in
the shopper’s stop.
10. We found that not only the gents& ladies were buying the goods but they was
good brands for kids was present in the store also .It means for kids thing
purchases the parents visited the retail outlets.
11. We have found that many of the people visiting the store were there because of
the discounts and different schemes offered by the retailers.
CONCLUSION –
(1) The Brands have a great impact on the customer’s mind and they are very much
influenced by these brands.
(2) Most the people visit the retail store just by getting influenced by the brands
present in the store. Like – if one is very much impressed by the brand of Arrow
shirt and that’s why he was visiting the retail store of Ebony. So it shows that this
brand has attracted the customer to visit the retail store.
(3) But some people are also there who was visiting the store by getting influenced by
the location and decoration of the retail store.
(4) Many of them were also visiting the retail store because of some discount offers,
offered by the retail store like a few days before there was a huge sale on the
product of Woodland shoes and around 75% of the people were visiting the retail
store just because of this offer.
(5) But still we can say that brands do have great impact and it really attract the
customer to visit the retail stores.
RECOMMENDATION –
(1) We do have retail stores only for the premium segment. And these brands are
targeting only to this target market and there is not any retail store for middle
class segment so we would like to recommend that there should be brands
specially targeting to the middle class people and simultaneously there should be
retail stores of these brands also.
BIBLIOGRAPHY –