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Financial Reporting (Tribhuvan Vishwavidalaya)
Studocu is not sponsored or endorsed by any college or university
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CONSUMER BEHAVIOR RELATED TO GOLDSTAR FOOTWEAR
BRAND IN LOCAL MARKET
A Project Work Report
Submitted By:
Exam symbol No. :
TU Registration No. :
Model Campus Damak
Damak, Jhapa
Submitted to:
The Faculty of Management
Tribhuwan University
Kathmandu
In Partial Fulfillment of the Requirements for the Degree of
BACHELOR OF BUSINESS STUDIES (BBS 4th year)
Model Campus Damak, Damak, Jhapa
Magh 2077
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Declaration
I hereby declare that the project work entitled “CONSUMER BEHAVIOR RELATED TO
GOLDSTAR FOOTWEAR BRAND IN LOCAL MARKET” submitted to the Faculty of
Management, Tribhuwan University, Kathmandu is an original piece of work under the
supervision of Mr. Yubraj Baral, faculty member, Model Campus Damak, Damak, Jhapa.
And is submitted in partial fulfillment of the requirements for the award of the degree of
Bachelor of Business Studies (BBS). This project work work report has not been submitted to
any other university or institution for the award of any degree or diploma.
_________________
Signature
S..
Date: 2077/09/
ii
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Supervisor’s Recommendation
The project work report entitled
“CONSUMER BEHAVIOR RELATED TO
GOLDSTAR FOOTWEAR BRAND IN LOCAL MARKET” submitted by s…. of Model
Campus Damak, Damak Jhapa is prepared under my supervision and guidance as per the
procedure and format requirements laid by the Faculty of Management, as partial fulfillment
of the requirements for the award of the degree of Bachelor of Business Studies (BBS). I,
therefore, recommend the project work report for evaluation.
Signature:
Mr. Yubraj Baral
Model Campus Damak
Date:
iii
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Endorsement
We hereby endorse the project report entitled “CONSUMER BEHAVIOR RELATED TO
GOLDSTAR FOOTWEAR BRAND IN LOCAL MARKET” submitted by S… of Model
Campus Damak, Damak Jhapa in partial fulfillment of the requirement for award of the
Degree of Bachelor of Business Studies (BBS) for external evaluation.
Signature:
Signature:
Mr. Yubraj Baral
Mr. Mahendra Timsina
Supervisor
Chairman
Date:
Research Committee Model Campus
Date:
Campus Chief
Krishna Prasad Timsina
v
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Acknowledgement
This project work has been prepared to fulfill the partial requirement for the degree of
bachelor of business studies. While preparing his project work, I got a lot of co-operation and
suggestion from different persons.
I am thankful to Mr. Yubraj Baral (Supervisor), Mr. Mahendra Timsina (Head of the research
committee, Model Campus Damak). I am also indebted to my respected teachers, librarian of
campus, and my friend Mr. Manish Kharel for helping me to prepare this project work report.
I would like to express heartly thanks towards all the members of my family and my froend
who provided regular inspiration and continuous help for my success.
Researcher
s…
TU Regd, No.:
Exam Roll No.:
vi
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CHAPTER I
INTRODUCTION
1.1 Background of the Study
Consumer’s buying behavior is divergent and situational. For durable product, such behavior
got different dimensions again. To make the study simple ad informative, color television is
being used to represent the consumer durable markets. Television, as a product, is getting the
status of essential commodity all over the world. The potential of TV market is indeed quite
enormous. The Nepalese consumers were indifferent in choosing the brand since a lot of
close substitutes were available in the market. However, they have changed ever since the
Nepal liberalized its economy. Choosing the right brand of television is difficult enough
when there were half a dozen brands and all of these claimed to give excellent picture quality.
Marketing managers are interested not only in the product but also the behavior of the
consumers because it gives them right orientations for product development and positioning.
The level of consumer’s satisfaction provides the scope for repeated purchases and brand
loyalty that lead to optimum profitability. This research finds that consumers’ perception on
buying color television is mostly affected by the factors, such as, structural add-ons, words of
mouth, technical features, durability, ground reality etc.
Consumer is nerve center of the modern marketing, understanding his behavior is quite
essential for efficient and effective marketing management. Customers may state their needs,
wants but act otherwise. They may not be in touch with their deeper motivations. Nepalese
consumer market is riding the crest of the country’s economic boom. Driven by young
population with access to disposable incomes and easy finance options, the consumer market
has been throwing up staggering figures. Marketing problem enhancing from the customers’
behavior has a greater degree of similarity behavioral problems relating to the consumer
durables.
1.2 Profile of the Organization
The Goldstar footwear was launched by Universal Group. Operating under the name of
Modern Slipper Industry Pvt. Ltd. & Kiran shoes manufacturers. Since its inception, the
group has established itself as the biggest footwear producing group in Nepal. In 1990, it
launched a mid-priced, value for money brand called Goldstar to service more price
conscious markets. Goldstar is a robust brand made with genuine materials and modern
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technology. Goldstar is now sold in all over Nepal and gradually it is gaining popularity in
other countries too. Goldstar shoes are recognized all over the country for its style and
durability. It has always prioritized what consumers want. It has formed strong relationships
to its suppliers and distributors all over the country. It has gain national recognition as a
progressive and extremely well managed business through best exporter award and best tax
payer in export category. Currently more than 3000 people are employing directly in five
different operating units in Kathmandu, producing more than 75000 pairs everyday.
1.3 Statement of the Problem
Nepal has been the market will full Low Price Products that are sold in an open market. The
products that we found in the market are even sold stating that they are high copy of the
products. Any products that are introduced in an international market are immediately copied
through the Chinese producer and then imported in Nepal. Goldstar is facing that problem
too. So it is getting negative impact by those duplicate products as they are sharing the same
name but low quality. Hence this study will try to analyze how customer perceived about the
low price products.
➢ How Low Price Products determine the perception of customer against the High Price
Products?
➢ What are the factors which affect the buying behavior of the consumer towards Low
Price Products?
1.4 Objectives of the Study
The main objective of the study aims at partial fulfillment of the requirement of the BBS
level. Other major objectives of the study are as following:
➢ To determine the perception about the Goldstar footwear.
➢ To analyze the factors which affect the buying behavior of the consumer towards
Goldstar footwear.
1.5 Rationale of the Study
It can provide platform for the further study regarding perception of customer towards:
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•
The findings and the recommendation can be useful for the other researchers and
organizations. It can help media and policy makers to adopt better strategies.
1.6 Limitations of the Study
The main focus of the study is concentrate to evaluate the buying behavior of the customer.
Basically this study is subject to following limitation.
❖ Since this study deals, mostly with the product of Goldstar Footwear, the conclusion
derived from the study may or may not be applicable to other similar company.
❖ The company policy on keeping some matters confidential such as details of the
customers, their purchase history and other made it difficult for further analyze.
❖ Only limited number of people are taken as population sample so the conclusion of
this report may not applicable to the other peoples.
1.7 Literature Review
1.7.1
Review of related Literature
Brand image refers to the perception of a certain brand in the mind of the consumer when a
brand name is mentioned (Keller, 1993), whereas brand awareness measures the customer’s
ability to recognize the brand when seeing the brand name, logo, symbol etc. Building up a
strong brand is not easy but if a brand could build a better image than its competitors’, then it
would enjoy a degree of protection (Cheverton, 2002). With high brand image, a business can
gain greater perception of the brand among customers, customer loyalty, high profit margins,
less negative attitude to price fluctuations and less vulnerability compared to competitors.
In the 1980s, the conception of brands changed enpurmously, when the management started
to understand the importance of a brand as an asset of the business (Kapferer, 1997).
Nowadays, brands are seen more than just symbols and names. Brands are major assets of a
company due to the fact that “A brand represents everything that a product or service means
to consumer.” That is the reason why brands should be carefully developed and managed.
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However, very often firms consider brands just as a tool for advertising, but that is not the
case. “Good brands don’t just sell, they act!” Due to the present competitive environment,
every firm attempts to generate favorable and positive associations about their brand which
result in a positive image of the brand. Companies should understand the fact that building up
a positive brand image depends on possessing high brand awareness, because when a brand is
well established in the memory it is easier for associations to be created and attached. In other
words, this means that before customers can create an image of a brand in their minds they
have to get to know and be aware of the brand first.
To sum up, nowadays brands are considered to be the key element when developing
relationships between companies and consumers. (Kotler, 2009) brands are the key to
winning position in the marketplace because they deliver unique benefits and build deep
connections with customers. In addition, customers are the most critical, though, very
important group to take into consideration because customers can always choose from where
they buy. Consequently, they will buy from the manufacturer that provides the most value.
In order to accurately define the term “Brand” we selected to use up-to-date definition of J.
Pallister & J. Law. According to Pallister and Law (2009), the term “Brand” can be defined
as ‘a name of a brand that identifies a certain product, manufacturer or distributor. In
comparison to a brand, a strong brand is a product, service, person or place that can be
identified and improved in the way that the customer or buyer gains essential, unique added
values which meet their needs in the best possible way.’ In addition, ‘success of a brand
results from being able to maintain added values in spite of competitors’ actions. (De
Chernatony, McDonald, 1992)’ On the other hand, American Marketing Association defines
brand as ‘a name, term, design, symbol, or any other characteristic that clearly makes an
attribute or quality of a goods or service distinguishable or recognizable.’ According to
Nicholas Ind (1997), ‘brand can be described as a feature of a plain idea of product or
service, and it includes the definition or a view of the values that go deeper in the functional
performance.’
To gain a wider perspective and deeper understanding of term brand, we also used other
sources of information outside of scientific articles and books. According to Welingkar
Institute of Management Development and Research, “a brand is a promise to the buyer of a
product of a certain amount of benefits, services or attributes.” WIMDR says brand to reflect
in four different ways. First, it reflects to values, Such as TATA that stands for quality.
Second, it reflects culture, for example Coca-Cola as an icon of American Culture. Third,
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brand reflects to personality, for example Charlie Chaplin as a person and fourth, it reflects to
user, many sports lovers like Ferrari cars, for instance.
Consumer behavior or buying behavior has attained increasing importance in a consumer
oriented marketing planning and management. The study of consumer behavior is an attempt
to understand what the consumer want, why they want. Clear understanding of the buying
behavior of consumer has become a great necessity in modern marketing system, because
success or failure ultimately depends upon the buying behavior of the target customers
considered individually or a group.
Therefore in order to undertake the marketing programmed among different segment markets,
the marketing management must find out the various factors that influences in buying
decisions of the consumer. The subject of buying behavior is relatively a new discipline of
the study of marketing. It has now become the central topic of modern marketing since the
ultimate aim of marketing is consumer satisfaction and profit making.
Consumer behavior can be defined as “The decision making process and physical activity
involved in acquiring, evaluating, using and disposing of goods and services.” According to
the Webster, “Buying behavior is all psychological, social and physical behavior of potential
customers as they become aware of evaluate purchase consume and tell other people about te
product and services”. In other words of Walter and Paul, “Consumer behavior is the process
whereby individual decide what, when, how and from where to purchase goods and services.”
Thus the buyer behavior may be defined as that behavior exhibited by people in planning,
purchasing and using economic goods and services in the satisfaction of their wants.
Characteristics of Buyer Behaviour
o Buyer behavior comprise mental and physical activities of a buyer when they wants to
buy goods and service to satisfy their needs.
o It includes both visible and invisible aspects of buyer. The visible activities refer to
physical activity like going to the market place, buying the product and consuming
them. The invisible activities on the other hand, refer to the mental activities like
thinking about the product, deciding to buy or not buy that product, to buy one brand
instead of another etc.
o Buyer behavior is complex and dynamic also. It is constantly changing requiring the
marketing management fails to make such adjustments, it would certainly lose its
market.
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o An individual buying behavior is also influenced by internal factors such as needs,
habits, instincts, motives, attitudes etc. and also by outside or environmental factors
such as family, social, groups, culture, status, positions, economic and business
conditions.
In narrow sense consumer behavior is the act when he is engaged in buying and consuming a
goods or a service.
After the consumer has actually purchased the products/ brands he will be satisfied or
dissatisfied with it. This satisfaction or dissatisfaction will result in certain consequences. If
he is satisfied with the product, he would regularly buy the brand and develop a loyalty. If he
is dissatisfied with the product he may stop buying more products of that brand and may also
spread bad words about that brand. This negative feeling which arises after purchasing
causing inner tension is called cognitive dissonance. A marketer therefore, understands the
correct buying process of customers and decided on marketing activities accordingly rather
than by their income alone. The social class is based on income, education, occupation,
family history and social status. Sociologists divide most societies into three classes- upper,
middle and lower. Shopping pattern, savings, spending habit and leisure time activities differ
in different social classes. The upper class buys products of high quality irrespective of price.
Middle class buys items to show their status in the society.
Factors affecting buying decision of consumers:
Technology/ Quality:
Consumer durables are technology driven. The latest models, innovative features and
improved features are a definite attraction for the customer. The consumers’ choice today
depends on the premium quality and technology provided.
Marketing Campaigns:
Advertisement plays a greater role in influencing the purchasing decisions made by
consumers. They are even known to bring about a great shift in market shares of competitive
industries by influencing the purchasing decisions of consumers.
Economic Conditions:
Consumer spending decisions are known to be greatly influenced by the economic situation
prevailing in the market. This holds true especially for purchases made of vehicles, houses
and other household appliances. A positive economic environment is known to make
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consumers more confident and willing to indulge in purchases irrespective of their personal
financial liabilities.
Personal Preferences
At the personal level, consumer behavior is influenced by various shaded of likes, dislikes,
priorities, morals and values. In certain dynamic industries such as fashion, food and personal
care, the personal view and opinion of the customers pertaining to the style and fun can
become the dominant influencing factor. Though advertisement can help in influencing these
factors to some extent, the personal consumer likes and dislikes exert greater influence on the
end purchase made by the consumer.
Group Influence
Group influence is also seen to affect the decisions made by the consumer. The primary
influential group consisting of family members, classmates, immediate relatives and the
secondary influential group consisting of neighbours and acquaintance are seen have greater
influence on the purchasing decisions of a consumer. Say for instance, the mass liking for fast
food over home cooked food or the craze for the SUV’s against small utility vehiclr are
glaring examples of the same.
Purchasing Power
Purchasing power of a consumer plays an important role in influencing the consumer
behavior. The consumers generally analyze their purchasing power before making a decision
to buy goods and services. The product may be excellent, but it if fails to meet the buyers
purchasing ability, it will have higher impact on its sales.
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1.8 Research Methods
1.8.1
Research Design
This study describes the perception of consumer towards Goldstar footwear. The research
design is basically exploratory and descriptive in nature.
1.8.2
Population and Sample
Total of 100 individuals are taken as the sample population. The sample population will be
selected randomly with irrespective of their age group, economic level and gender.
1.8.3
Sources of Data
The set of questionnaire will be used to collect the primary data from the sample population
for the study. Information regarding their view would collected through questionnaire. Other
information’s like about the Goldstar Shoes will be collected through the secondary sources
like journals, articles, different websites, newspapers etc.
1.8.4
Data Collection Procedure
Both primary and secondary data will be used for the study. To receive in-depth knowledge
on the costumer’s satisfaction and its theory, it is required to consult and review existing
literatures, reports, information bulletins, booklets etc. published by various institutions and
personnel working in this field.
1.8.5
Methods of Data Analysis
All the data/ information will be entered in the computer software like MS-Word, MS-Excel
etc. for report preparing. Qualitative approaches will be used to analyze the collected
information. Different diagrams and graphs will be used as applicable.
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CHAPTER II
DATA ANALYSIS AND PRESENTATION
There are two principal markets for trademark- and copyright infringing products. In the first
(the primary market), Goldstar and pirate infiltrate distribution channels with products that
are often substandard. Consumers unwittingly purchase these products thinking that they are
genuine.
The secondary market involves consumers who, under certain conditions, are willing to
purchase Goldstar or pirated products that they know are not genuine. Consumers who
knowingly purchase such products are also aware that they are supporting the parties
producing and supplying them, although he true nature of those parties may not be apparent
to the consumer. The size of the secondary market also depends on the characteristics of the
product involved. For example, the willingness to knowingly buy a low-priced Goldstar
product is likely to be far less than the willingness to purchase a low-priced pirated CD.
Finally, demand is also affected by socio-economic factors, which differ among economies.
One of the most important and most complex problems faced by international companies is
fraud phenomenon, and Goldstar in countries. Product Goldstar Staring is growing
dramatically in terms of volume, sophistication, range of goods, and countries affected. Most
of the global companies are more concerned about Goldstar, because this phenomenon can
reduce their sell and disrupt their pricing and distribution strategies. On the other hand,
destabilization of prices, damaging the marketing and distribution channels, disruption of
brand reputation and brand image, are among the problems that have been reported by
managers of international brands.
Global trends of Goldstar show that cautionary growth in the field of production, distribution,
and consumption of non-genuine goods is happening. Goldstar merchandise trade estimate
over $500 billion a year worldwide with a growth rate of 1000 percent in the last 20 years.
However, this growth is largely due to the increasing demand of consumers.
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2.1.1
Data Presentation
Table 2.1
Demographics of the Respondents
Age
15-20
24
20-30
50
30 above
26
Sex
Female
30
Male
70
Economic Status
10000-20000
25
20000-30000
45
30000 above
30
Source: Field Visit
The above table shows that most of the study population was from the age group of 20-30
years. Most of them are male i.e. 70. Maximum of them were earning from 20000-30000
monthly which shows most of the people were of moderate economic status.
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2.1.1 Attitudes towards Goldstar
Attitude is “a learned predisposition to behave in a consistently favorable or unfavorable
manner with respect to a given object” or attitudes refer to the degree to which person has
a favorable assessment of a questionable behavior and are an immediate indicator with
which an intention of him/ her for doing particular behavior can be predicted. Attitude is a
learned tendency to replay to a topic through a desired path or adverse continually and
plays a very important role in consumer behavior.
Table 2.2
Attitude towards Goldstar
Attitude toward Goldstar
Number
Bad
25
Good
55
Very Good
20
Source: Field Visit
Attitude
Bad
Good
Very Good
From the above table and chart most of the people(50) has found it good to buy the
Goldstar footwear. While 25 of them found it bad to purchase Goldstar. And only 20 of
them found it very good attitude towards Goldstar product.
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2.1.2
Conspicuous Consumption
Table 2.3
Conspicuous Consumption
Conspicuous Consumption
Number
Yes
65
No
25
No idea
10
Source: Field Visit
70
60
50
40
Conspicuous
Consumption
30
20
10
0
Yes
No
No idea
From the above table and graph 65 respondents found it conspicuous, 25 did not find
conspicuous and 10 has no idea about it.
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2.1.3
Purchase Intention
The link attitude-behavioral intention has been extensively examined in the marketing
literature. According to the Theory of Reasoned action, attitude is positively correlated
with behavioral intentions, which in turn is an antecedent of the real behavior. Indeed,
research has found support on this relationship.
Different explanations can be suggested for the link between the attitude of consumers
and their actual purchase behavior. Attitudes toward an action affect behavioral intentions
positively and previous studies represented that consumer’s attitudes can affect the
probability of buying Goldstar.
Table 2.4
Purchase intentions
Purchase intention
Number of respondents
High intention
60
Moderate intention
25
Low intention
15
Source: Field Visit
70
60
50
40
30
Purchase Intentions
20
10
0
High Inention Moderate
Intention
Low
Intention
Most of them have high intention to purchase Goldstar, while only few have low intention
on buying the Goldstar footwear
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2.1.4
Personal Gratification
The majority of Goldstar goods are not comparable to the original goods in terms of
quality and consumers who purchase Goldstar are aware that the Pirated Goldstar do not
provide similar level of quality as the original they are willing to accept such
compromise. Personal gratification concerns the need for the sense of accomplishment,
social recognition, and to enjoy finer things in life and the result of their study showed no
significant influence of personal gratification on consumer attitudes toward Goldstar.
Table 2.5
Personal Gratification
Personal Gratification
No. of respondents
Generally benefit
70
Nothing wrong
18
Better choice
12
Source: Field Visit
Most of them found that it benefit to purchase the products, while few i.e. 12 people
found that buying Goldstar is better choice for a footwear
80
70
60
50
40
Personal Gratification
30
20
10
0
Generally
Benefit
Nothing
Wrong
Better Choice
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2.1.5
Social Status
Social status is “The motivational process by which individuals strive to improve their
social standing through conspicuous consumption of consumer products that confer or
symbolize status for both individuals and surrounding others.” Since branded products
help consumers to communicate an image to those who surround them, there is no
surprise that the willingness to purchase Goldstar is associated with social status.
Table 2.6
Social Status
Enhancement on Social Status
No. of respondents
Yes
75
No
15
No idea
10
Source: Field Visit
80
70
60
50
40
Enhancement on
Social Status
30
20
10
0
Yes
No
No idea
From the above table and chart it is clear that 75 people found that wearing the footwear
of Goldstar brand improved their social status where 15 people found it doesn’t improve
their social status and 10 has no idea about it.
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2.1.6
Price
Consumers want to buy genuine products but only some of them can afford them. Price is
one of the key factors that the consumers will buy the product or not. Some of the
consumer may find the price of the product to be expensive whereas some of them find
the price is low and some of them find it reasonable.
Table 2.7
Price
Price
No. of Respondents
Expensive
60
Reasonable
25
Low Price
15
Source: Field Visit
70
60
50
40
Price
30
20
10
0
Expensive
Reasonable
Low Price
Out of 100 respondents 60 found that the Goldstar Footwear to be expensive while 25 of
them found it is reasonable and 15 found that the product is low priced.
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2.1.7
Accessibility
Easy accessibility of product motivates the consumers to buy them. Consumers want to
buy the product which is easily accessible and has to do less effort to buy them. Goldstar
are sold at open markets which makes it easily accessible to buy it. Some deceptive
Goldstar can be found at supermarkets or open market as retailers are mostly unaware
about the illegal nature of these deceptive Goldstar Footwears.
Table 2.8
Accessibility
Accessibility
No. of people
Less effort
80
Found Everywhere
15
No Legal Problem
5
90
80
70
60
50
Accessibility
40
30
20
10
0
Less Effort
Found Everywhere No Legal Problem
Most of the respondents stated that Goldstar are found everywhere and has less to do less
effort to buy it.
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2.1.8
Past experience
Based on the assumptions that consumer behavior is the result of learning, there is an
argument among the researchers that consumers’ past behavior can provide improved
predictions of behavioral intentions. Goldstar buyers are different from non-buyers,
the former take such purchases less risky, not viewing this purchase as unethical and
trusting the stores for prior Goldstar purchase. Research has found that Goldstar
buyers poles apart from non-buyers and past experience to enhance attitudes towards
Goldstar product. Majority of consumers who had never bought Goldstar product did
not choose Goldstar products, also they did not express any positive intention to buy
Goldstar product in future when they were offered the opportunity to purchase the
Goldstar.
Table 2.9
Past Experience
Past Experience
No. of Respondents
Yes
35
Will buy
55
Better Choice
10
Source: Field Visit
Past Experience
60
50
40
30
Past Experience
20
10
0
Yes
Will Buy
Better Choice
Most of the respondents will purchase the Goldstar in future and few of them also
stated that the respondents found it better choice products.
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2.2 Major findings:
➢ Most of the people(55) found it good to buy the Goldstar. While 25 of them found
it bad to purchase it. While only 30 respondents found it very good to attitude
towards Goldstar product.
➢ Most of found it conspicuous about while 65 found it right.
➢ Most of them have high intention to purchase Goldstar. While few of them have
low intention on buying the Goldstar.
➢ Most of them found that it benefit to purchase the product, while few i.e. 18
people found that buying Goldstar is nothing wrong to the consumer.
➢ People buy Goldstar shoes because of its low price and reasonable price, but some
of them are not buying it because they find it expensive.
➢ Most of the respondents found that Goldstar footwear are found everywhere
making it easily accessible hence has to do less effort to purchase it.
➢ Most of the respondents will purchase the Goldstar in future and few of them also
stated that the respondents found it better choice products.
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CHAPTER III
SUMMARY AND CONCLUSION
3.1 Summary
‘Low Price’ is frequently mentioned as one of the major product attributes
affecting purchase intention of these goods. The price of a Goldstar fashion
item is mostly set as a fraction of the price of the matching genuine item. It
is this low-pricing strategy that attracts consumers’ attention on purchasing
Goldstar product. However, because of the rise of the so-called supercopies,
prices of these high quality Goldstar has risen too. It is interesting to
investigate whether consumers use real price and quality cues of CLFI as an
indicator of perceived quality, as is sometimes the case with genuine items.
To the authors’ best knowledge, no research has yet been conducted that
integrates the possibility of consumers encountering relatively high prices
for the Goldstar.
3.2 Conclusion
Most of the people has found it good to buy the Goldstar while some of them
has bad experiences and some has very good attitude towards Goldstar that
they are willing to buy the same brand again. Most of the consumers are
wearing it due to its low cost and high quality that makes the respondents’
intention high towards the Goldstar product but some are not intending to
buy it in future as they are having bad experiences. Most of them are having
good experience using this product because they find it least experience,
comfortable and easily accessible. In general people have found this product
moderately good.
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Implications
Brand owners must act quickly to identify and deal with any Goldstar goods.
To that end, brand owners should adopt the following strategies to protect
themselves and their brand:
Make sure their rights are in order. Manufacturers and brand owners have
the ability to create value in their products through utilizing intellectual
property rights (“IP rights”). By having a sound IP rights strategy, brand
owners can use the law as a tool against Goldstar to enforce their rights in
their products, logo, deigns, inventions, know-how and brands.
Devise a strategy of dealing with this goods. By this we mean, a brand owner
should know what they want to achieve; what range of tools you have to
achieve these (and which are appropriate for the infringer at hand); their
target list (i.e. are there any Goldstar that are a priority?); nd now they wish
their brand should be perceived while doing it.
Generally, brands should monitor the infringements wherever they occur in
order to be able to react swiftly and decisively against them. Brands should
keep a record of their activities in order to be able to see which measures are
working and which are not.
In addition, brand owners should educate their customers. In this way, the
consumer will be deterred from purchasing a Goldstar product as they will
know the drawbacks of Goldstar goods and how to spot them. Ideally,
customers should also be made aware of how to inform the brand ownerleveraging the power of customers as the brands’ own “Eyes and Ears” as to
where Goldstar duplication is occurring.
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Bibliography
Cheverton, P & Malcolm, M (2002) How Come Your Brand Isn’t Working Hard
Enough?: The Essential Guide to Brand Management. London: Kogan Page
Leslie, D.C. & Malcolm H.B. (1992). Creating Powerful Brands. Oxford & Boston:
Butterworth-Heinemann
Ind, N. (2003). Beyond Branding: How the New Values of Transparency and Integrity
are changing the World of Brands, London : Kogan Page.
Kapferer, J.N. (1997). Strategic Brand Management: New Approaches to Creating
and Evaluating Brand Equity. London: Kogan Page, 2 Sub edition
Keller, K.L. (1998). Measuring Customer-Based Brand Equity, in Perspectives of
Modern Brand Management. Ed. Dr. Franz-Rudolf Esch
Kotler, D. (2009) Principles of Marketing, 13th Edition
Law, J. & Pallister, J. (2009) A Dictionary of Business and Management, 5th edition.
Oxford: OUP.
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Appendix
This project work is based on primary data most of which are collected by field visit
through direct interview and questionnaire. Some data are collected through
observation also. They are discussed below:
➢ Questionnaire:
Primary data can be collected through questionnaire. This requires field work.
Involvement of researcher is required to collect reliable data. It requires list of
question to ask and investigate a problem in which the project is based.
➢ Observation:
Another method of collecting primary data is observation. Observation
requires more time to study and analyze the problems of particular
organization. Observation is time consuming and costly. It requires
involvement of researcher.
➢ Interview
Primary data can also be collected through interview. This is one of the
reliable methods of collecting primary data. Here researcher himself ask
questions face to face and can take data and ask question that is required to
fulfill his project work. This technique is widely used all over the world.
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