Background and Significance
There is research in business purpose is assigned here. The assignment is on the topic -“Effect of the product branding on organisational growth”. The assignment is to study the effect of the product branding. The performance and the growth of an organisation depend on its product branding. An organisation launches a product in the market and to publish the newly launched product they give advertisements and promotions. The product branding varies the promotion and the demotion of the organisation. In this case, it also reveals that how the branding will influence the customers. They could know the performance and current position of the organisations by the research (Geuens, 2011). The product branding of an organisation decides that whether the ranking of the organisation should go higher or lower. The product branding of an organisation is so much important that the organisation publishes its position in the competition market.
There are many types of research these present the idea of product branding. In this way, product branding raises the significance to improve the organisational growth and performance of the business. The product branding of the modern age is used as a tool in the market for advertising products. It rises the performance of an organisation. The branding of the internet is providing entirely raw images that will be existent in the practical world more than that of the real one. It is right in saying that the brands such as Google, Yahoo, Bing, etc. exist practically. In most of the researchers, it is approved that the fact is the success of an organisation depends completely on their ability for marketing themselves as the brands (Hammadi, van Riel and Sasovova, 2011).
There is some research based questions appear in this case. When researching on the topic “the effects of the product branding on organisational growth”, some research related questions appeared (Ginsberg, 2014). The questions are presented as follow:
- What are the importance of the product branding among the clients for an organisational growth?
- How does the product branding effect in the market for an organisational growth?
- What is the maintenance required for product branding for an organisational growth?
The main features of this group are presented as below:
- To analyse the importance of the product branding among the clients on an organisational growth.
- To design the process for analysing the product branding effects in the market for an organisational growth.
- To find out the maintenance required for product branding for an organisational growth(International heliophysics year: background and objectives, 2007).
Nowadays, the brands are the original capital of the companies. Product branding is essential to the companies for business purpose. The value of a company is measured regarding its real estate, equipment, assets and products. Though, the real value of accompanying lies outside business itself, in the mind of potential customers. A brand is both, visible and invisible, tangible and intangible, symbolic and practical under terms and conditions. These are economically practical for the company. The insistent difference over the long run builds up the brands. A brand is a signature on a creative, continually renewed process which produces various products. As products are introduced, they live and disappear, but brands withstand. The dependability of this original action gives a brand its content, meaning. To create a brand needs time and identity. This research will explore the customer’s behaviour under the influence of the brand equity. The literature that concerned with the roles of the brand and brand equity are reviewed to provide a theoretical framework for the analysis.
Research Questions
A brand permits organisations to differentiate their business strategy from their competitors in the current market. A brand helps to create customer reliability. This is more important in the modern era. Companies achieve higher levels by making business strategies, by having a brand. This more helps to promote the companies. Companies have to create a name, a logo or business model. Building a brand is about to create a new identity. It separates one company from the others. This helps the particular company to receive a good positive response from the customers. Customers find various attractive features in a brand following their requirements. If a company makes a product worth that requirements, customers would rather pick other products of the same brand of the company. When the products are sold to customers in a huge amount, the company gets the profit in the business. Thus a product falls effect on organisational growth (Review of periodical literature published in 2015, 2016).
Nowadays, product branding concepts have become more about how people recognise business. Thus, there is so much attention on how brands can improve their position in sales, consumer base and business.
Confidence is needed in a product, business or service. A 24-hour convenience brand store can be based on customers’ confidence, trust on the product that it will be open all the day. The emotional response of the customer varies for purchasing a product or service. A brand builds a unique and exclusive personality for business purpose. Customers are attracted in this way. Product branding is mostly centred on delivering the expected emotional response and constantly rewarding the confidence. For example, a renowned sports company named ‘NIKE’ can build its brand of product successful if the customers are satisfied with the products after using. The customers believe that they are using the best sports company products. Thus, the product creates its strong position in the market. In this way, the product branding falls effect on the organisational effect (Shinozawa, 2007).
Brands are not formed overnight. The brand identity is created by assessing the business. The assessment has to be realistic and be based on the following points:
Companies should work out on the product, business or services. These are what they achieve for their customers (Lindstrom, 2005).
Companies must know their customers’ likes and dislikes. This will grow a healthy relationship with the customers (Karney, 2010).
Companies should find out the feelings of the customers and the employees about the products and the business. The responses from the customers and the employees will form the basis of the company’s brand message.
Branding in Modern Age
High-perceived quality products give the company a platform to grow. Low-perceived quality products would damage the image and would restrict the business. Every company should work on that.
The organisational growth is critically influenced by the marketing strategies of the organisation. On the other hand, most of the organisation are applying various marketing strategies to improve brand esteem. Also, the organisational growth and product branding both are inter-related. Along with that, the growth of the organisation is influenced by the product branding. Besides that, to branding the product, the management of the organisation needs to focus one some marketing strategies such as product promotion and online marketing strategies. Along with that, the promotional strategy is one of the effective business tools which is used by many companies. Besides that, the organisational growth can be boosted with the help of promotional strategies. Aside from that, the online marketing is also very effective for the organisational growth and product branding.
Promotion and advertisement: to attract the customers, promotional strategies are playing an essential role. Along with that, a discount strategy is a segment of the promotional strategy which can increase the brand value of the organisation. On the other hand, most of the customers are price sensitive, and they want high-quality products in low price. Apart from that, the organisation and the management needs to apply the discount strategy to attract the customers who are looking for value product at low price. Besides that, an advertisement is another important segment which includes basic significance. In other words, with the help of advertisement, the organisation can attract aware the customers about products. Also, the customers can also be attracted by the discount offers which is an effective marketing strategy of an organisation.
Online marketing: the online marketing is a huge platform to aware most of the people. In other words, with the help of the online marketing strategy, the management of an organisation can attract and notify many valuable customers about specific products and services. On the other hand, most of the customers are looking products and service through online, and many online shopping websites offer high-quality products to the customers. Moreover, online marketing is an effective method or business strategy which can increase the profit of the organisation. Along with that, the management of the organisation can offers products details by using the internet. In other words, with the help of e-mail chatting, the customers can directly approach the organisation.
Factors in Building a Brand
Research methodology is an important part of the research project. In other words, methodology plays an important title role in the study project. According to this, it helps the person who researches for the project, to collect profitable assumption and help them to research the project in an authentic and suitable way. Some measurement parts or basics are involved in the research methodology. These parts or basics are dignified as considering, introduction recommendation and conclusion. In this way, a research project always needed perfect and suitable information and that information come from different types of research methodology. Along with this, for making a project real, observes and real policies are included with that collective information. On the other side, through research methodology, the researcher can be able to examine individual parts of the particular project. For this reason, the researcher can form a dignified exploration by those collective significant aspects, and these are quantified in newly circulated studies. According to these, sampling methodology is a part of the research methodology which included the opinion of business experts and customers. The researcher will choose the survey process, and the necessary data and collective evidence through research need to be analysed. Along with these, survey strategy which is an inimitable technique included in the research methodology. However, the research methodology gives an imperious tactic just because of determining the combined information. In this way, the process can help to get success on research survey. The descriptive research design can develop the survey field. Also, the field survey is generated by the amount of primary data collection. According to these, Secondary Data Collection gathered information from web, newspapers, books, journals, articles and courses. Also, there is some important part of the research methodology which helps to deliver an appropriate configuration to the complete research. These essential parts are research approaches, research philosophy, research design, data collection method, research method, sampling method. These are discussed in below,
Types of investigation play an important role in the research methodology. According to these, a researcher needs to know some important methods of a research project to get success in a research project. In this project, there are discussed the vital parts like research approaches, research philosophy, research design, data collection method, research method, sampling method, etc. Therefore, it is noticed that every fragment of research methodology is important to make the research project successful.
Many important theories are included in the research approaches which are needed to do the research project. Along with this, some important firm techniques are also contained within research approaches, and it is needed for transformation, collection and analysis. Research approaches divided into two parts such as inductive approach and deductive approach. The qualitative research is process included in the deductive approach, and the information of quantitative approaches are managed by the deductive approach. For leading the research successfully, the researcher of the project needs to give preference to a sensible research along with a definite goal and object. The inductive approach has a link with the relic of association and examines daily data. All these are collected from web, magazines, newspapers, etc. According to research, it is noticed that deductive approaches are easy then inductive approaches because it is rational to separate the most required information.
Marketing Strategies for Organisational Growth
Research philosophy is also essential as research approaches. It plays an important role in research methodology. Like research approaches, there are two types of research philosophy such as positivism and interpretive. The overall research h will be depending on the interpretivism philosophy to understand and interpret the process of research. Depending on that, the research will significantly analyse the evidence which will be gathered from the interview and survey. However, the positivism is also a great part of the research. In many cases, the researchers take the positivist philosophy to undertake their research. Both the approaches are opposing each other in their aspects. Depending on the interpretivism, it is a social science and also supports the quantitative data collection method in the research. However, the positivism is a process of legal aspects which always refers to how the research undertakes with data experience and also it is a process of self-recognition of the evidence. Thus, the research will be undertaken according to the interpretivism process to undertake qualitative and quantitative data collection method precisely.
The research design is based on three main aspects of research. The research designs are: explanatory, exploratory, and descriptive. The descriptive research design is based on the explaining the research evidence, and also it is an explanation of the overall report. Exploratory is a design which explores the research processes. In this research project, the descriptive design is very much important to take into consideration for the research progress. This is an unmistakable design which supports the researchers to undertake the research to a top level to make the research more specific to the research topic. Depending on the research progress, the researcher will gather better evidence and data which will support the research in future. Thus, the importance of descriptive research approach is very important for the project.
This research is based on the quantitative research method which includes interviews, questionnaire, and market research technique. Moreover, both types of research methods are already explained by the researcher. On the other hand, the result of the research showed that most of the respondents supported the product branding which directly influences the organisational growth. In other words, according to the primary data, most of the customers or respondents agreed that the organisational growth is affected by the product branding. Along with that, the collected primary information also defined that, the organisation should pay more attention to various marketing strategies which can enhance product branding and organisational growth. Moreover, the researcher strongly recommends that the management of the organisation should apply the discount and online strategies to increase the growth of the organisation. On the other hand, the organizational brand value is also influenced by product branding and promotions.
Conclusion
This research is based on organisational growth and product branding which are influenced by primary research method. Along with that, the researcher explained the significance of research objectives and research questions in the introduction segment. Besides that, the researcher also explained the significance of marketing strategy and product branding in the literature review segment. Also, the researcher also evaluated how organisational growth is influenced by the product branding with the help of proper arguments and justification. Besides that, the researcher also explained various types of research methods in the research methodology segment which is an essential part of the research project. Along with that, the researcher conducted a successful primary research and got fruitful conclusion which defined the significance of product branding to improve organisational growth. Moreover, according to primary research method, most of the customers preferred that the organisation should provide discount offers for customer retention. In other words, with the help of discount offers, the organisational growth will happen. Moreover, most of the customers are looking products and service through online, and many online shopping websites offer high-quality products to the customers. On the other hand, online marketing is an effective method or business strategy which can increase the profit of the organisation. Thus, the organisation should focus on the online marketing to improve organisational growth. Also, with the help of online marketing, the management of an organisation can maintain a good relation with their customers.
References
Geuens, M. (2011). Where does business research go from here? Food-for-thought on academic papers in business research. Journal of Business Research, 64(10), pp.1104-1107.
Ginsberg, H. (2014). The 2013 ACC/AHA Guidelines on the Treatment of Blood Cholesterol: Questions, Questions, Questions. Circulation Research, 114(5), pp.761-764.
Hammedi, W., van Riel, A. and Sasovova, Z. (2011). Antecedents and Consequences of Reflexivity in New Product Idea Screening*. Journal of Product Innovation Management, p.no-no.
International heliophysical year: background and objectives. (2007). Space Research Today, 168, pp.40-41.
Karney, B. (2010). A Science of Healthy Relationships Is Not a Healthy Relationship Science. Journal of Family Theory & Review, 2(1), pp.42-46.
Lindstrom, M. (2005). Broad sensory branding. Journal of Product & Brand Management, 14(2), pp.84-87.
Review of periodical literature published in 2015. (2016). The Economic History Review, 70(1), pp.275-322.
Shinozawa, Y. (2007). The Effect of Organisational Form on Investment Products: an empirical analysis of the UK unit trust industry. Corporate Governance: An International Review, 15(6), pp.1244-1259.
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