Essential Branding Activities of a Company-Sample for Students

Question: Discuss aout the essential branding activities that the Company has carried out over the years and the impact of poor brand image. Answer: Background The background of the research is about increasing brand awareness of a well-known brand Myer. It will show the impact that high brand awareness has on the company as well as on the consumers (myer.com 2017). Increased awareness of the brand helps the organization to attract good traffic and retain the old customers as well. Brand awareness of Myer will have a direct impact on the consumers of Australia. It has been seen that the company has always carried out an effective branding channel to attract the customers of Australia. While carrying out their branding strategy the company has targeted various market segments by good and influential understanding of the customers purchasing their products. It has also carried out effective marketing as well as promotional strategy and that has helped the company to improve the image of their brand over time (Hakala et al. 2012). The research will focus on the essential branding activities that the company has carried out over the years and t he impact of poor brand image. The following research has put forward the rational that in the absence of strong brand awareness the company will be unable to create a strong connection with the customers and thus experience a decrease in its sales. Losing customers and not being recognized by the customers will make it tough for the company to survive in the scenario of strong competition. Thus, a research on this ground is essential to make the company realize about the importance of branding and enhancing the image and name of the brand. This will as a direct impact on the behavior of the customers (Huang and Sarigll 2014). Objective Objective of the research helps the researcher to plan out the research proposal in a better manner as it structure out the exact result that the researcher is seeking to reach. Similarly, the aim of the research is to analyze the important and effect of increasing brand awareness on the organization Myer in Australia and the changing behavior of the consumers (Hutter et al. 2013). The wide coverage of the objectives of the research that can be realized from the research aim is: To analyze brand awareness and its impact on the behavior of the consumers because of lack of information about the organization To indentify the approaches that can be used by Myer to enhance their brand recognition and image To summarize the impact of an effective branding activity on the consumers to recognize the organization effectively To propose various measures that can be adopted by the company to enhance its branding activities in order to increase its profit and sales Study Design The design of the study states the methods that have been chosen to collect the data required to reach the objective of the research. It is essential as it increases the accuracy of the result obtained to fulfill main objective of the research. A deductive type of research approach has been chosen as one of the most appropriate way to reach the result of this research. The research will use exploratory research design to explore the information and data required for the research (Mertens 2014). This type of design is also used to explain the data in a detailed manner. Moreover exploratory research design also helps in filling up the gap in the research and does not make any unnecessary assumptions. A non-probability sampling method is being used to gather information with the help of questionnaires. Whereas an interview will also be conducted with the managers of Myer to know their branding positions. For sampling purpose, 200 samples have been chosen among which 150 will be used for quantitative research and 50 will be kept for qualitative research. 150 will considered for filling up the questionnaire by the customers and 50 will be filled by the repose given by the managers. A secondary data research will also be used from past literatures about the importance and impact of brand awareness and the press releases and website of Myer (Creswell 2013). Areas of Questioning The researcher will move forward with the research by analyzing the following questions that is to be answered. Assuming the result of the research four important questions has been put forward to offer a complete solution of the research and meet its objectives: What impact does the brand awareness of Myer puts on the buying behavior seen in the customers? How would have Myer undertaken the various approaches that has been put forward for brand awareness in order to improve its brand position? What are the positive impacts a strong brand image has on the company as well as on the consumers? What are the important measures that a company can take to improve its existing brand image and generate more sales for the company? These question swill help the researcher to cover all the desired objectives it was aiming to fulfill from the survey. Data Analysis Research analysis is yet another important factor of a research that comes after the data has been collected from all sources. However, different data can be analyzed in different manners depending on the result the researcher is aiming to depict. Analysis is very important and is the last step of the research activity after all other works are done. In this research data will be analyzed both n descriptive as well as in a mathematical manner using various tools. The responses given by the managers and the consumers of the open-ended questions will be analyzed by using a descriptive type documents in order to explain all kinds of issues and variables observed in those questions. This will help the researcher to cover a wide range of ideas and thoughts. On the other hand, close-ended questions will be analyzed using the SPSS tool. In this tool, the data that has been collected by the respondents will be presented in a graphical format in order to make it understandable to the normal p eople easily. On the other hand qualitative data analysis will be structured in a format that will answer each research question separately. Further he research will also use the Likert scale that offers a desired analysis of the data and a positive outcome of the research (Schabenberger and Gotway 2017). Personnel Involved Personnel of the research are the people that actively take part in the research for various activities and help in completing the research. The important personnel of this research will be the supervisor of the researcher, the consumers and managers used to fill the questionnaires and the team members. Some of the team member will take part in structuring the report and data collection, while other will analyze the data and write the outcomes. Specifications Specifications are essential for the research as it helps the researcher to decide the cost and time of the research. The credentials that are mentioned in the specifications will be used to formulate the cost required for particular things. Some of the specifications of the research are: Number of interviews conducted: 50 Number of questionnaires filled by the consumers: 150 Average length of each interview: 15minutes Number of questions in the questionnaire: 20 Number of open-ended questions: 5 Average completion rate: 0.50 part completed per hour Assumed incidence: 25 percent Sampling type: non probability sampling Two statistical table banners put on the word format Descriptive analysis of the interview Report Editing of final presentation Services Services is yet important specifics of a research that states the type of services that the researcher is offering during the research that will help him in successful completion. Services are of various types and each of it plays a crucial role in the completion of the task. Some of the services of this research are: Developing the questionnaire with both open and close-ended questions and a total of 20 questions will be set Choosing of sampling within the Myer company and in and around the target area of the company Structuring of the survey Management of the project Monitoring of the interview with the managers Processing of the data, calculation of the survey and presentation of statistical tables Analysis of the data and setting up of the final report Cost The cost of the research is the expenditure required to complete every specifications of the research. The cost required to conduct this survey is $60,000 and some other contingency fees that will be kept for emergency purpose. For data collection activities in the area of Myer company. The cost estimate given here does not include any kind of travelling charge incurred by the researcher. Time Last is the formulation of the time, which is yet another important thing to decide in a research. A research without any proper timeline fails to reach the objectives on time. Selection of topic- 1 month Collecting data from secondary sources- two months Construction of research- one month Literature review- one month Development of research plan- one month Selection of appropriate research techniques- one month Primary data- two months Analysis and interpretation- one month Conclusion-two months Draft development-one month Final report- one month References Creswell, J.W., 2013.Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications. Hakala, U., Svensson, J. and Vincze, Z., 2012. Consumer-based brand equity and top-of-mind awareness: a cross-country analysis.Journal of Product Brand Management,21(6), pp.439-451. Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Hutter, K., Hautz, J., Dennhardt, S. and Fller, J., 2013. The impact of user interactions in social media on brand awareness and purchase intention: the case of MINI on Facebook.Journal of Product Brand Management,22(5/6), pp.342-351. Mertens, D.M., 2014.Research and evaluation in education and psychology: Integrating diversity with quantitative, qualitative, and mixed methods. Sage publications. myer.com. 2017. Myer. [online] Available at: https://www.myer.com [Accessed 28 Aug. 2017]. Schabenberger, O. and Gotway, C.A., 2017.Statistical methods for spatial data analysis. CRC press.