Tracking of Brand Perception, Positioning and Performance for Sharp Lifestyle Electronics Products in Chennai

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1 Tracking of Brand Perception, Positioning and Performance for Sharp Lifestyle Electronics Products in Chennai S.Vidhya MBA Student, School of Management, SASTRA University Dr. S. Selvabaskar Associate Professor, School of Management, SASTRA University Thanjavur, Tamil Nadu, India ABSTRACT A brand is a brand, irrespective of the number of products the company produces or manufacturers, with a unique, reliable and well-recognized personality. The originality can come either from an actual product or from its image. The reliability comes from the consistency of its quality and efficiency, but it is likewise presented in the marketing and product publicity. The purpose of the research is to find out the consumers views and their perception of Sharp s brand s position, image, and visibility level. In this case, the respondents were individuals, households, and consumers in Chennai. The researcher used tools such as Chi-Square test, ANOVA, and Regression analysis.granting to the analysis researcher found that there is a significant relationship between Positioning and Brand factors viz., Offer & Discounts, Visibility, Varieties, Advertising, Popularity, and Image. Keywords: Brand Tracking, Brand Attributes, Brand Metrics, Brand Positioning, and Consumer behavior. I. INTRODUCTION Sharp was established in 1912 by Mr. Tokuji Hayakawa. Since the time that, Sharp's philosophy is to fix at no other time seen products and Make products that others need to portray. Its mission as a manufacturer has been to create products that never existed, along these lines helping society and social order. The organization has an across the country deals & administration system blanket even the remotest areas of India. Intriguing data is that they are utilizing inventive innovation as a part of lifestyle hardware products, for example, LED, LCD, and Inverter A/C. Sharp recognizes India to be a great vital business sector for its products. It is a measure of this strong belief in the Indian market. The development in India's customer business sector will be essentially defined by a good populace organization and climbing disposable wages. The contender portrays the position, identity and guarantee of the brand. The brand review incorporates the quality, shortcoming, dangers and open door examination. Understandably, each one organization is well experienced in promoting exercises, for example, notice, business sector distributed shows and promotion. According to ibef.org, In consumer electronics markets, especially in TV market share, Sony is in a high position holding 27% of the market, follows Samsung and LG holding 23% and 21% respectively. The consumer market in Chennai is very competing. The players of lifestyle electronics products in Chennai are Samsung, Sharp, Panasonic, Sony, Hitachi, and LG. The trends indicate that the lifestyle electronics market is in a rapid evolution phase and the manufacturers are under tremendous competitive pressure to be first-to-market with unique and differentiated products. The need of the study is to improve their brand among the society and to increase their market share. The study can be useful to monitor their lifestyle electronics brand in terms of consumer s perception and helps to satisfy their future outlook. IRJBM ( ) May Volume No V Page 46

2 II. REVIEW OF LITERATURE Kraus, Paul John, 2000, conducted a study of Competitive brand differentiation. This research analyzes the circumstances that impact views of analytic under each of these alternative difference techniques and provide important ideas into the process that makes an efficiently classified product. The subject determines that each factor isthe indecisiveness of choices for the distinguishing feature, the degree of recognized reliability between the central feature and the distinguishing product, and the differentiator's costs compared to competing producers. Agrawal, D P. 2006, conducted a study of Brand Positioning, this study detailed about the moral and cross-cultural issues in product positioning. Five basic factors of product placement - Brand Identification, Brand Image, Brand Character, Brand Awareness, and Brand Interaction are recognized. This paper is based on the core idea that values can be used as a product differentiator and can create an ideal advantage. The framework comes out as the core research study is important from the managing perspective as it offers a detailed template to position the brand in a significant way. Xiao Tong. 2006, conducted a study of exploring the relationship between marketing activities and the creation of brand equity in the Chinese clothing market. The result shows that store image, event sponsorship, target marketing, and Web advertising expenditures have a strong combined effect on the brand equity creation in China. Frequent price promotions have negative effects on the brand quality level and brand image. The outcomes of the study suggest that cultural differences mediate the effect of marketing efforts on brand equity creation. Renata Žvirelienė, Ilona Bučiūnienė, 2008, conduct study of the relationship marketing aspects. The study describes Relationship marketing is also called as New marketing to fulfillment of customer needs and building of long-term relationships with customer. The main aim towards this study is to diversity of client needs and regular changes thereof, found out the requisite for a fresh approach to the development of operations. From the interpretation, the result of the study comments on the significance of the company s relationships with business partners, and the main relationship marketing dimensions (empathy, communication, cooperation, satisfaction, trust and commitment) with customers was sufficiently strong and in turn determined closeness of these relationships. Gitana Dudzevičiūtė, Valentina Peleckienė. 2010, conducted a study of the importance of the marketing strategy and strategic planning in organization for continuing successful growth. Further, it attempts to make a comparative analysis of the marketing strategy, processes proposed by various authors. The study describes to make a quantitative analysis of the customers satisfaction, referring to the particular example of the company. The outcomes of the study describe the extra attempts and resources are necessary to make successful organization. Bai, X.-S. 2010, conducted a study of tracking system of agricultural products' quality and safety is to avoid security issues and control to observe farming items process which is an efficient means to ameliorate the top quality of farming items and create farming items brand. The analysis tests the efficiency from the maturation of the monitoring program of farming products' top quality and safety. As a consequence, the analysis points out the current problems and modified factors and gives some referential recommendations on the judging program, standardization, technology and policy. Gordon, Brian S. 2010, conducted a research on Consumer-based product value model depending on Keller's product value chart that explains how the customer s views influence product resonance. The consumer-based product value scale was consists of five constructs related to product equity: brand awareness, product organizations, product brilliance, product impact, brand resonance. This finding revealed that two attitudinal constructs (brand brilliance and product affect) played an important function in the product association-brand resonance relationship. Catherine da Silveira, Carmen Lages, CláudiaSimoes, 2011, conducted a research on Brand construction and development demand rethinking viewpoint to increase the powerful environment. This report looks forward to advance the recognized conceptualization of name recognition by changing the definition and suggesting brand identification as powerful.this article has made IRJBM ( ) May Volume No V Page 47

3 supporting the socially constructed nature of individuality; the authors offer an innovative managing framework that challenges recognized approaches of label identification. Ranchhod, Ashok; Gurau, Calin; Marandi, Ebi. 2011, this author conducted a research along the effect of nation of source picture on customer views of an effective tea product dissonance between the nation of source and the product name to positioning brand name globally.the results indicate that a beneficial state of reference effect can have a beneficial effect on an international product picture transcending any negative associations that a product name may have, as in realistic effects provide useful ideas for teachers and experts regarding the success factors of the marketing technique in worldwide markets Nancy J. Sirianni, 2011, conducted a research on investigating the product positioning across a company to include personal communications between Frontline workers and clients to increase customer-based product value.outcomes indicate that staff's brand-aligned actions are most important in forming different brands' value when these manufacturers execute efficiently, and on the other hand, most significant in forming acquainted brands' value when these manufacturers don't succeed customers.this has effects for the hiring of employees who credibly fit with the product character, as considerably as the purpose of inner marketing applications that can help product supervisors tactically place service manufacturers from the inside out. Jordan McClain. 2011, conducted a research on Contribute to mass communication theory and our understanding of media in society to analysis of brand coverage positioning. The findings of the study identified five frames and four sub frames used to portray Phish and found they are an entity that defines standard molds and they makes for an extraordinary and fruitful positioning. III.OBJECTIVE OF THE STUDY i. To profile the users of Sharp consumer electronics brand in Chennai. ii. To find out the impact of demographic variable on brand performance iii. To find out the positioning of Sharp brand among the users iv. To construct a moral to explain the influence of brand perception and performance on brand positioning for Sharp. IV. SCOPE OF THE STUDY This study mainly focuses on customer, competitor and current brand audit analysis to measure and analyze the Sharp s brand. The survey is to go after the customer and consumer s perception, hence that it helps to design the future products based on their expectation of the clients. The study is to assess the customer and consumer s real opinion, which aids to meet their future expectation in turn that will increase their Brand level among the society. It facilitates the organization to understand their brand positions and location among the social club, though they can alter and design their brand visibility among the customers in the future. V. RESEARCH VARIABLES 1. Age profile of the respondents 2. Annual income of the respondents 3. Positioning 4. Brand attributes a. Quality b. Performance c. Product reliability d. Product durability e. Service response IRJBM ( ) May Volume No V Page 48

4 f. Service ability g. Customer relationship 5. Brand reach a. Advertisement b. Image c. Visibility d. Popularity e. Varieties f. Offer & discounts VI. DATA ANALYSIS AND DISCUSSION From the primary data the researchers infer that the age profile of the respondents, 29.6% are in the age group of 21 to 30 years, 48.8% are in the age group of years, 19.2% are in the age group of years, and 2.4% are in the age group above 51. The respondents of 14.4% are earning less than per annum, 64.8% are earning between to , 15.2% are earning between to and 5.6% are earning above Table 1 Chi-Square test analysis of brand attributes Factor Sig Result Customer relationship Accept Service effectiveness Reject Service ability Reject Service response Accept Product durability Accept Product reliability Accept Performance Accept Quality Accept From the above table 1 the researcher infer that if the p value for the calculated is p > 0.05, accept your hypothesis. 'The deviation is small enough that chance alone accounts for it. A p value of customer relationship is 0.075, means that there is a 7.5% probability that any deviation from expected is due to chance only. This is within the range of acceptable deviation. If the p value for the calculated 2 is p < 0.05, reject your hypothesis, and conclude that some factor other than chance is operating for the deviation to be so great. For example, a p value of service effectiveness is means that there is only a 0.4% chance that this deviation is due to chance alone. Therefore, other factors must be involved. The same can suitable to other factors. From the primary datathe researcher infers that 73 respondents are satisfied, 33 are neutral, and 14 are highly satisfied with customer relationship. In service effectiveness, 72 respondents are satisfied, 34 are neutral, and 16 are highly satisfied. With service ability, 72 respondents are satisfied, 34 are neutral, and 16 are highly satisfied. In service response, 69 respondents are satisfied, 42 are neutral, and 14 are highly satisfied. With product durability, 74 respondents are satisfied, 38 are neutral, and 13 are highly satisfied. With product reliability, 81 respondents are satisfied, 34 are neutral, and 10 are highly satisfied with their brand use. 80 respondents are satisfied with the brand performance, 28 are neutral and 17 are highly satisfied with the performance. 79 respondents are satisfied with the quality, 23 respondents are highly satisfied and another 23 are neutral with the brand quality. IRJBM ( ) May Volume No V Page 49

5 Regression analysis on Positioning and Predictors: Offer & Discounts, Visibility, Varieties, Advertising, Popularity, Image Model Summary Std. Error of the Model R R Square Adjusted R Square Estimate 1.922a a. Predictors: (Constant), Offer & Discounts, Visibility, Varieties, Advertising, Popularity, Image R square is the total amount of independent variables which listed in predictors above. The value of R Square is Thus 85% of variants explained by six variants. The difference of Adjusted R square and R square is low. Thus the study of the independent variables towards dependent variable is valid. Significant F-test of H0: that R²=0 calculated manually as, R² / k F = (1 - R²) / (N - k - 1).850/ 6 = = ( ) / 118 F (6,125,.01) =.000 a Table 2 ANOVA Model Sum of Squares Df Mean Square F Sig. Regression a Residual Total a. Predictors: (Constant), Offer & Discounts, Visibility, Varieties, Advertising, Popularity, Image b. Dependent Variable: Positioning Hypothesis: Ho, the null hypothesis is rejected at 5%. From the above Table 2, F value of is the indication of significant value for regression. As sig is.000 (< 0.05), there is a significant relationship between those variable. As sig p value < 0.05, thus there is a significant relationship between these two variables. Table no 3 Coefficients Model T Sig. Result Advertising Reject Image Reject Visibility Accept Popularity Reject Varieties Accept Offers, Discounts Reject IRJBM ( ) May Volume No V Page 50

6 Table no 3 Coefficients Model T Sig. Result Advertising Reject Image Reject Visibility Accept Popularity Reject Varieties Accept Offers, Discounts Reject a. Dependent Variable: Positioning From the above table no 3, the standardized coefficient of Advertising and offers & discounts is higher than all other independent variable. In t value, Advertising and offers & discounts are higher than the other as this t value calculated from the B and Std. Error of Advertising (B=.321, Std. Error=.051); Offers& discounts (B=.277, Std. Error=.055). Thus the independent variables of advertising and offers and discounts are more contributing towards Positioning of consumer electronics. VII. FINDINGS The major findings based on demographic variables, the majority of the respondents are in the age group of 31 to 40 earning an annual income in the range of to as we clearly infers that the study includes the major consuming class of the society and their responses are valid and reliable. Since this study focuses on lifestyle consumer electronics products. The majority of the respondents are satisfied with all brand attributes, especially performance and quality of the brand. This clearly indicates that Sharp is perceived to be a brand of performance and quality at which they can very much penetrate in the market by identifying the right marketing strategies to attract the major consuming class of the respondents. The regression analysis indicates that the dimension called advertisement is highly contributing towards positioning of Sharp consumer electronics. Already they are very much presence in the major players and also they come out with many points of sales and advertisements. This will strengthen the brand and further reinforce the positioning statement of the brand (Refer Table 3). VIII. RECOMMENDATIONS Brand image has been further improved among the consumers in the market. This can be done by suitable altering the marketing mix, namely product, price, promotion and place. So that they can very well be the position as an aspirational brand among consumers. This can be done only with the help of proper planning and execution of marketing strategies. Further, they have to concentrate more on channel sales because the dealer plays a vital role in providing a last mile advantage to brand and sale. So the company should concentrate on the driving the dealers and growing the professional salesman. So that they can easily convince the customer in better results at the showroom. In addition to this Sharp can concentrate on delivering value to the customer at the step-in to buy sharp consumer electronics. In a single brand outlet it is very much possible, but in multi brand outlet it is very prominence of sharp brand in one area where they have to concentrate. IRJBM ( ) May Volume No V Page 51

7 Also try to capture the top of the customers mind brand awareness. This can be done by proper promotion. IX. CONCLUSION Though the study has given a detailed view about Sharp consumer electronic products in general, a further study can be made to understand more about the company s product and understand the company s outlet across the nation. X.REFERENCES 1. Agrawal, D P Framework of Ethical Brand Positioning: A Case Study of Anchor, Sagar, Mahim; Singh, Deepali. Journal of Management Research 6.2: 72-83, 2. Bai, X.-S.2010.Research on tracking system of agricultural products' quality and safety, Article number , Pages Category number E3997; Code Catherine da Silveira, Carmen Lages, CláudiaSimoes, 2011, Re-conceptualizing brand identity in a dynamic environment, Journal of Business Research: 2011 revised. JBR-07311; No of Pages 9 4. Dr. R.Amudha, Dr.S.T.Surulivel, Dr.C.Vijayabanu An impact of intermediaries behavior on customer satisfaction in an Indian Private Sector Bank. International Journal of Engineering and Technology. Volume 5, Issue 6, Dec 2013-Jan 2014, pp: Gitana Dudzevičiūtė, Valentina Peleckienė Marketing Strategy Process: Quantitative Analysis of the Customers Satisfaction. Business: Theory and practice. 11(4): Gordon, Brian S.2010.The impact of brand equity drivers on consumer-based brand resonance in multiple product settings. The Florida State University, ProQuest, UMI pages 7. Jordan McClain Media Framing as Brand Positioning: Analysis of Coverage Linking phish to the Grateful Dead, Publisher: Temple University Libraries. Pages: Kraus, Paul John Competitive brand differentiation: What makes differences valuable Northwestern University, UMI Dissertations Publishing, 2000, Nancy J. Sirianni Understanding Branded Customer Service, Publisher: Arizona State University, 322 pages. 10. Ranchhod, Ashok; Gurau, Calin; Marandi, Ebi Brand Names and Global Positioning.Marketing Intelligence & Planning Renata Žvirelienė, Ilona Bučiūnienė The Role of Relationship Marketing Dimensions in the Customer Retention. Business: Theory and practice. 9(4): S.Selvabaskar M.Senthil Consumer Durable Retailing- How durable the strategies are? 'Annamalai Business Review', the bi-annual Journal of Department of Business Administration, Annamalai University. July-December 2008, pp Xiao Tong Creation of Brand Equity in the Chinese Clothing Market Vol. 13 Iss: 4, pp IRJBM ( ) May Volume No V Page 52