69 Fox Business Journal THE BRAND COMPETITION OF CONSUMER PRODUCTS IN CAMBODIA Mik Saphanaret* Brand marketing has a distinct historical context irrespective of the levels of development of the countries. Most of the experience was built around the Fast Moving Consumer Goods (FMCGs) business of Multi-National Companies (MNCs) with its own unique products, market and company policy imperatives. However, it can be said that all successful efforts in brand making have not been by MNCs, as local companies too have been successful in many countries in this regard. A brand is the personification of a company. It is a source of a promise to its customers. It promises relevant differentiated benefits. It does so not only to place itself into the purchase consideration set, but even more importantly, to be the brand chosen from that purchase consideration set. This is also referred to as the brand’s unique value proposition. Whether it is called a unique value proposition or a promise of relevant differentiated benefits, it is very important that the promise or proposition be delivered consistently at each point of customer contact, time after time. Thus, a brand is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image. Branding is when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product. Thus, branding is an important part which allows companies to build their reputations as well as expand beyond the original product and service, and add to the revenue generated by the original brand. Branding is also a way to build an important company asset, which is a good reputation. In addition, branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place. Thus, brand allows the consumer to shop with confidence, and they provide a route map through a bewildering variety of choices. The brand and consumers’ appreciation of the underlying appeals drive the purchase decision. BACKGROUND The real power of successful brands is that they meet the expectations of those that buy them. As such, they are a contract between a seller and a Fox Business Journal www.foxbusinessjournal.com [2013] buyer. If the seller keeps to its side of the bargain, the buyer will be satisfied; if not, the buyer will in future look elsewhere. Therefore, the value to businesses owing strong brands is incontestable. Brands that keep their promise attract loyal buyers who will return to them at regular intervals. The benefit to the brand owner is that forecasting cash flows becomes easier, and it becomes possible to plan and manage the development of the business with greater confidence. In the present competitive world, the asset value of brands is widely recognized by both brand owners and investors. Brands as realized can generate high quality earnings that can directly affect the overall performance of the business and thus influence the share price. The durability of brands, the quality of their earning power and their widespread appeal make them highly desirable properties. Hence, a brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. Brand recognition is most successful when people can state a brand without being explicitly exposed to the company’s name, but rather through visual signifiers like logos, slogans, etc. The recognition and perception of a brand is highly influenced by its visual presentation. A brand’s visual identity is the overall look of its communications. Hence, effective visual brand identity is achieved by the consistent use of particular visual elements to create distinction. Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/ service. Typically, sustainable brand names are easy to remember, transcend trends and have positive connotations. Thus, brand identity is fundamental to consumer recognition and symbolizes the brand’s differentiation from competitors. However, over time, a product’s brand identity may acquire, gaining new attributes from consumer perspective but not necessarily from the marketing communications an owner percolates to targeted consumers. Therefore, brand associations become handy to check the consumer’s perception of the brand. A brand image has both a direct effect on sales and a moderating effect on the relationship between product life cycle (PLC) strategies and sales. Finally, a brand image is not simply a perceptual phenomenon affected by the firm’s communication activities alone. It is the understanding consumers derive from the total set of brand-related activities engaged in by the firm. Thus, unless effects on the brand image also are considered, the 70 Fox Business Journal implementation of PLC strategies may cause a decline in long-run market performance (Park, et al., 1986)1. In consumer behavior research, a considerable amount of attention has been given to the construct of brand personality, which refers to the set of human characteristics associated with a brand (Aaker, 1997). Researchers have focused on how the personality of a brand enables a consumer to express his or her own self (Belk, 1988), an ideal self (Malhotra, 1988), or specific dimensions of the self (Kleine, Kleine, and Kernan, 1993) through the use of a brand. Practitioners view it as a key way to differentiate a brand in a product category (Halliday, 1996) as a common denominator that can be used to market a brand across cultures (Plummer, 1985). Despite the important relationship between a brand’s image and its market performance, limited research has been carried out in small emerging markets. Further, research on personality and the symbolic use of brands more generally has remained limited due to the lack of consensus regarding what brand personality really is. LITERATURE REVIEW BRAND COMPETITIVENESS Brand competitiveness is considered as a basis for long-term survival of an enterprise and can bring long-term interests for enterprise. Brand competitiveness enhances market share, increase profits, enable organizations to charge higher price, create customer loyalty, or even help override occasional failures in the eyes of the consumers. Organizations develop brands as a way to attract and keep customers by promoting value, image, prestige, or lifestyle. They may enjoy a trust or customer loyalty if they able to differentiate the brand from the competitor. A weak brand cannot able to retain the customers. Many researchers believe that brand competitiveness is affected mainly by two dimensions. The first dimension is the basic strength of corporate, such as product quality or service, technology, business skills, management capacity, human resources; the second dimension is the effectiveness of brand communication which mainly includes the consumers’ perception of brand images and the channel capacity of providing products and services to customers. Yang et al. (2008) provide that the brand value, brand innovation, brand quality control, brand marketing and brand communication constitute the five aspects of brand competitive factors. Dali et [Type a quote from the document or Fox Business Journal the summary of an interesting point. www.foxbusinessjournal.com You can position the text box anywhere in the document. Use the [2013] al. (2007) reveal that brand competitive effects by four elements. These are basic elements which composed of product performance, quality and other indicators; form factor, which refers to the name, trademarks, etc.; support elements which include management capabilities, financial strength, human resources, etc.; and strengthen elements which include public relations, advertising and after-sales service. Recently research in this direction is more concerned about the brand itself, focusing on the brand continuity and development factors. Among them, the brand culture is the most important one. Pengli and Furong (2008) sum up the factors as brand market power, brand innovation, brand culture and brand leadership. Brand culture emphasizes the integration of business outlook, values, and aesthetics into the brands. Further, Xueme (2009) emphasizes on the link between brand and corporate image, and the brand elements summarized as brand strength, brand management, brand development and brand sales force. Jinping (2009) consider cultural competence as the dominant factor which emphasizes that an enterprise must establish a distinctive brand philosophy, brand image and brand personality. To enhance the competiveness of the brand several business strategies are required. These are (i) developing a good quality management system and have good crisis manage capacity, (ii) effectively engage in marketing campaigns, while focusing on the customer’s evaluation after purchase, and (iii) strengthening brand operations along with enhancing brand value. Liuxiang (2002) points out good brands need good quality management system as a safeguard and there are three elements to establish a good quality management system. The first part should begin from the raw materials, grasp the purchase channel, strict implementation of quality standard; the second part from the production process control, strict manufacturing processes for processing in accordance with the production, strict control of the defect rate and the failure rate; and the third part links quality testing and quality inspection, which must not be over looked. Companies wishing to build their brand bigger and stronger cannot be too short-sighted in quality inspection link pushing boundaries. Enterprises should make full use of various marketing initiatives to strengthen their brand image. Advertising, public advocacy, promotion and celebrity effect can become effective measures. Marketing campaigns make a brand famous but it can never solve the problem of maintaining the brand, as such establishment of brand image is far more than that. The key to maintain a good brand is to put more emphasis on the consumer’s evaluation, particularly the 71 Fox Business Journal evaluation after the purchase. Such thinking not only can maintain good customer satisfaction, but also helps improve product performance, better brand recognition and customer loyalty (Yang and Tang, 2008). The profitability of the brand is the most fundamental part of the core business ability. In order to enhance brand value, the enterprise should start from the brand’s profitability, which is not just a guarantee, but the essential part for the continuation of the brand. Brand profitability is the outward manifestation of the brand competitiveness; it refers to the ability to profit in the market. Brand development capacity reflects the ability of the persistence of a brand; it is subject to many factors. Branding capabilities explain whether a brand’s image in the consumer consciousness is achieved the desire or not. Brand support capacity emphasizes on the resources needed to maintain the brand conditions. Brand awareness capacity shows whether the target brand on the market won the social acceptance and customer satisfaction. Fast Moving Consumer Goods (FMCGs) Fast Moving Consumer Goods (FMCGs) are products that are sold quickly at relatively low cost. Though the absolute profit made on FMCG products is relatively small, they generally sell in large quantities and as such the cumulative profit on such products is large. These products get replaced within a year. Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, teeth cleaning products, shaving products and detergents, as well as other nondurables such as glassware, light bulbs, batteries, paper products and plastic goods. FMCG may also include pharmaceuticals, consumer electronics, packaged food products and soft drinks, tissue paper, chocolate bars, although these are often categorized separately. Subsets of FMCGs are Fast Moving Consumer Electronics which include innovative electronic products such as mobile phones, MP3 players, digital cameras, Laptops, etc. These are replaced more frequently than other electronic products. White goods in FMCG refer to household electronic items such as Refrigerators, TVs, Music Systems, etc. Some of the best known examples of Fast Moving Consumer Goods companies include Colgate-Palmolive, Unilever, Nestle, Procter & Gamble, Marks, Spencer, CocaCola, Carlsberg, Pepsi, etc. FMCG industry provides a wide range of consumables and accordingly the amount of money circulated against FMCG products is also very high. This industry, alternatively called as Consumer Packaged Goods (CPG) industry primarily deals with the production, distribution Fox Business Journal www.foxbusinessjournal.com [2013] and marketing of consumer packaged goods. Consumers generally put less thought into the purchase of FMCG than they do for other products. Today the competition among FMCG manufacturers is growing very fast and as a result of this, investment in FMCG industry is also increasing. FMCG industry also engaged in operations, supply chain, production and general management. The main segments of the FMCG sector are: Personal Care: oral care; hair care; skin care; personal wash (soaps); cosmetics and toiletries; deodorants; perfumes; paper products (tissues, diapers, sanitary); shoe care. Household care: fabric wash (laundry soaps and synthetic detergents); household cleaners (dish/ utensil cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides and mosquito repellants, metal polish and furniture polish). Branded and Packaged Food and Beverages: health beverages; soft drinks; staples/ cereals; bakery products (biscuits, bread, cakes); snack food; chocolates; ice cream; tea; coffee; processed fruits; vegetables and meat; dairy products; bottled water; branded flour; branded rice; branded sugar; juices, etc. Spirits and Tobacco: An exact product-wise sales break up for each of the items is difficult. Thus, the products belonging to the FMCG segment generally have the following characteristics: • They are used at least once in a month • They are used directly by the end-consumer • They are mostly non-durable • They are sold in packaged form • They are branded A SWOT analysis of FMCG sector shows that the sector enjoys several strengths, such as low operational cost, presence of established distribution networks in both urban and rural areas in countries and presence of well-known brands in this sector. The weaknesses show lower scope of investing in technology and achieving economies of scale, especially in small sectors and presence of illegal mimic of labels of the established brands, which narrows the scope of FMCG products in rural and semi-urban market in several economies in the world. However, FMCG sector has tremendous opportunities to grow which include presence of untapped rural market in many countries, possibilities of rising demand due to increasing purchasing power of consumers, export potential and high consumer goods spending. In spite of tremendous presence of opportunities, the sector faces few threats, such as presence of tax and regulatory structure in many economies along with slowdown in demand in rural areas. In addition, removals of import restrictions in many 72 Fox Business Journal economies result in high competition and in many cases replace the domestic brands. In several low income economies in the world increased focus on farm sector boosts rural incomes and provides better growth prospects to the FMCG companies. In addition, better infrastructure facilities in many economies improve their supply chain. FMCG sector is also likely to benefit from growing demand in the market. Because of the low per capita consumption for almost all the products in the low income economies, FMCG companies have tremendous possibilities for growth. In addition, if the companies are able to change the mindset of the million consumers, i.e., if they are able to take the consumers to branded products and offer new generation products, they would be able to generate higher growth in the near future. Some of the advantages of FMCG industry which made this industry as a potential one are low operational cost, strong distribution networks, and presence of renowned FMCG companies. Moreover, population growth is another important factor responsible for the success of FMCG industry. A major portion of monthly budget of each household is spent on FMCG products. The introduction of sachets made rural people who are traditionally not accustomed for bulk purchase, to buy branded FMCG products like shampoo, detergents, cleaning powders and liquids, toothpastes, etc. This changed the pattern of buying from traditional products to branded products. Thus, the Fast Moving Consumer Goods (FMCG) sector is the corner stone of every economy. This sector touches every aspect of human life. The FMCG producers have realized that there is enough opportunity for them to penetrate into the rural market of several economies in the world. Today the shift towards branded FMCGs in rural areas is a result of socioeconomic changes. The socio-economic and political changes taken place around the world have contributed to a great extent for changes in the life styles of countryside people who patronized branded FMCG products. STUDY OBJECTIVES The objectives of the study were: To Identify the key competitive of the Consumers products brands in Cambodia Market and the perception of consumers regarding the usefulness of dominant attributes on brand evaluation; To find out the role of advertisement in the buying decision of consumers towards selected brands of FMCGs; and Fox Business Journal www.foxbusinessjournal.com [2013] To analyze the brand identity of selected brands of FMCGs among the consumers in the study area. METHODOLOGY The type of analysis carried out in the present study is both descriptive as well as quantitative in nature. To achieve the objectives and test the hypotheses, the study has collected primary data through direct personal interview method with the help of a structured questionnaire. The primary data have been collected from 400 selected respondents in the city of Phnom Penh. Besides, relevant secondary data have also been collected from several sources. Both descriptive and quantitative analysis has been carried out in the study. Several statistical tools, such as average, percentage and Multidimensional Scaling (MDS) have been used in the study. The study has also carried out both tabular and graphical analysis to analyze the data collected as per the objectives of the study. In addition, relevant statistical tools are used in the study to accomplish the objectives. Weighted Aggregate Score is carried out to rank the attributes affecting the buying decision of the consumers. The Weighted Aggregate Score calculated as per the formula given below: Weighted Aggregate Score = ∑Wi Xi is Where, Wi = Weight of ith item X Xi = Value of ith item X To understand the preference level of the respondents so far different brands of toothpaste, detergent powder and shampoo is concerned, the Multidimensional Scaling (MDS) has been used. This particular technique is well suited and was originally developed for measuring human perceptions and preferences. Multidimensional Scaling is used to identify the product attributes that have importance to consumers and to measure their relative importance. This technique tests the brands which compete most directly with each other. MDS is a set of techniques used to understand and measure the variety of human responses. MDS tackles basically two problems: i. dimensions involved for consumer perception of objects (Products, Services, Brands, Companies, etc.), and ii. Configuration of points (of objects) in that dimensionality. As regards dimensionality, the number can be two or more. However, only two most important dimensions are chosen so that the resultant configuration can be shown graphically. The outputs of MDS are the location of objects on 73 Fox Business Journal the relevant dimensions as is termed as “Perceptual Mapping”. Thus, the perceptual map technique has also been used to identify the underlying dimensions that differentiate customer perception of products and the position of existing products on the dimensions. The following method has been used to find out the number of dimensions and configuration of that dimensionality. The similarity matrix from response matrix has been found out by the following formula: Where N is total sample size, i = row and j = column. The distance between each brand is found out by using Euclidean distance formula: [2013] market. The competitive analysis of various brands of toothpaste is presented in Table 5.2.3. Table No. 5.2.3 Identification of Best Brand of Toothpaste on the basis of Selected Attributes Attributes Brand Colgate Pepsodent Total 128 (32.00) 152 (38.00) 92 (23.00) 104 (26.00) 88 (22.00) 84 (21.00) Closeup 108 (27.00) 96 (24.00) 88 (22.00) Oral-B Cleanliness 60 (15.00) 64 (16.00) 136 (34.00) 400 (100.00) 400 (100.00) 400 (100.00) 124 (31.00) 112 (28.00) 108 (27.00) 128 (32.00) 120 (30.00) 104 (26.00) 80 (20.00) 92 (23.00) 88 (22.00) 108 (27.00) 112 (28.00) 96 (24.00) 68 (17.00) 76 (19.00) 100 (25.00) 84 (21.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) Protection of gum & teeth Freshness Price Advertisement Packaging Brand Image Note: Figures in the parentheses indicate percentage to row total. Where Xik, Xjk are the projections of points i and j on dimension k (k = 1, 2, …….., r) The stress value is calculated as a badness of fit at 10 per cent. So any value below the value of allowable badness of fit is acceptable. Thus, MDS is carried out to help understand people judgments of the similarity of members of a set of objects. The pairs of brands are taken to study the superiority of the brand through the ordinal scale. Respondents are required to give their preferences for the different brands and finally, the perceptual map is drawn to know the Euclidian distance among the different brands. To meet the objectives of the study, 400 respondents are taken into account for carrying out the field survey in the capital city of Cambodia, i.e., Phnom Penh. BRANDS COMPETITION Competitive Analysis of Various Brands of Toothpaste Considering certain attributes, such as cleanliness, protection of gum and teeth, freshness, price, advertisement, etc., the competitive analysis of various brands of toothpaste is taken into account. For this purpose, the study has considered the brands like Colgate, Close up, Pepsodent and OralB. The other brands of toothpaste have not been taken into account with the simple assumption that these brands are not effective players in the Fox Business Journal www.foxbusinessjournal.com Table 5.2.3 reveals the fact that considering the attributes, such as cleanliness, protection of gum and teeth, price, advertisement and brand image, Colgate was considered by the highest number of respondents as the best brand. So far as the freshness and packaging are concerned, Oral-B and Close up were considered respectively by the respondents as the best brand. In a number of attributes, such as cleanliness, protection of gum and teeth, advertisement and brand image, the brand Close up had secured the second position. However, the brand Oral-B had secured the lowest position in all the attributes taken into account except freshness and packaging.Figure5.2.5presented below shows clearly the competitive analysis of various brands of toothpaste considering several attributes. 74 Fox Business Journal Marketing Implications The analysis made earlier with regard to factors influencing buying of toothpaste and choosing of a brand to be the best considering the attributes reveals the following marketing implications. i. One of the significant attribute influencing the buying decision of toothpaste is the protection of gum and teeth as revealed from the analysis. Considering the brand which meets the above criteria, it is found that Colgate was considered to be the most effective brand. Hence, to further strengthen the market, Colgate should give more emphasis on the above attribute. The other brands, such as Pepsodent and Close up should also seriously think of their product value in terms of cleanliness to pose a serious threat to the brand Colgate. ii. It is also revealed that freshness as one of the important attributes in buying the toothpaste. Data show that maximum number of respondents favoured Oral-B as the best brand in meeting the above criteria. Thus, it can be inferred that to gear up its demand and to fight with the brand Oral-B, Colgate, Close up and Pepsodent should consider raising their freshness value in the product. iii. Very few respondents consider advertisement as one of the important factor in buying toothpaste. However, Colgate had secured the first position so far the advertisement is concerned. To promote the brand and to strengthen the market position, the brands like Pepsodent, Close up and Oral-B should develop more appealing advertisement to create new demand in the market. iv. Considering the attributes, such as cleanliness and protection of gum and teeth, it can be stated that the competing brands of Colgate, such as Pepsodent, Close up and Oral-B should add value to their brands for strengthening their base in the market in the long run. v. So far the attributes price and brand images are concerned, Colgate was rated as the best brand. Therefore, it can be inferred that the brands, such as Pepsodent, Close up and Oral-B should consider the pricing and develop certain criteria for building up brand image to meet the growing market challenge in the present environment. 5.2.7 Perception of Toothpaste – Colgate Brand Understanding the level of perception of consumers of the brand Colgate is essential in a study of brand personality as a competitive advantage. Knowing the level of perception of the consumers helps to build the brand image and to Fox Business Journal www.foxbusinessjournal.com [2013] rightly position the brand in the competitive market. The level of perception of the consumers so far the Colgate brand of toothpaste is concerned is summarized below in a 1 – 5 scale. Further, the table shows the Weighted Aggregate Score which is found out by assigning 5 points to 5 and 1 point to 1. The analysis has considered the use of Weighted Aggregate Score to assess the perception level of the consumers on the basis of the selected attributes. Table No. 5.2.4 Perception Level of the Consumers on Brand Colgate Scale Attributes Cleanliness Protection value Freshness Packaging Price Advertisement Brand Image Number of Responses 5 4 3 (High) 88 156 136 140 124 112 116 120 32 92 32 112 92 136 28 132 68 156 116 56 216 2 8 20 132 160 140 36 8 1 (Low) 12 4 0 4 4 8 4 Weighted Aggregate Score 1500 1576 1420 1248 1372 1480 1472 Table 5.2.4presented above shows that respondents perceived the protection value of the Colgate brand with regard to gum and teeth as the most important attribute. The Weighted Aggregate Score has shown that next to the protection value, cleanliness was perceived as the next important attribute. The other attributes which are perceived by the consumers as important were respectively advertisement of the product, brand image, freshness, price and packaging. Further, it is to note that more than 60 per cent of the respondents perceived the Colgate brand as high with regard to cleanliness, protection value and freshness. Marketing Implication Analysis made above on the perception of Colgate brand by the consumers clearly shows that Colgate had acquired a good brand image due to some of its attributes, such as protection value, cleanliness, freshness, etc. Hence, for the other brands in the market to compete with the Colgate brand, it can be inferred that they should highlight their Unique Selling Proposition (USP) on these attributes. Competitive Analysis of Various Brands of Detergent Power A comparative analysis is made in this sub-section by considering various brands of detergent powders, such as Viso, Tide, Lix and Breeze on the basis of a number of attributes. The main aim is to assess the best brand on the basis of the given attributes. Looking to the nature of the product, the various attributes selected are whiteness, better foaming, cloth friendliness, safe on hands, price, packaging, storing for a long period, advertisement and brand image. The study is restricted within the four brands with the assumption that these brands 75 Fox Business Journal are considered by the consumers as important. By knowing the best and the least brand on the basis of the given attributes, marketing strategies may be planned accordingly. As found earlier, all the respondents were in use of detergent powder though their preferred brands vary from one to other. Moreover, some of the respondents after a certain period changed their brand due to some reasons. Hence, the study on different brands on given attributes helps to know the reason of a brand as accepted by the consumers. The comparative analysis of various brands of detergent powder is presented in Table 5.3.3. [2013] study is limited within four brands of detergent powder and nine attributes but, in most cases Viso was found to be the best rated brand. The analysis is further supplemented by the figure presented below. Table No. 5.3.3 Consideration of Best Brand of Detergent Powder on the basis of Selected Attributes Attributes Whiteness Better foaming Cloth friendliness Safe on hands Price Packaging Storing for a long period Advertisement Brand/company image Brand Viso 133 (33.25) 107 (26.75) 117 (29.25) 107 (26.75) 102 (25.50) 98 (24.50) 106 (26.50) 117 (29.25) 110 (27.50) Tide 104 (26.00) 89 (22.25) 98 (24.50) 104 (26.00) 87 (21.75) 112 (28.00) 101 (25.25) 93 (23.25) 104 (26.00) Lix 92 (23.00) 112 (28.00) 84 (21.00) 87 (21.75) 137 (34.25) 68 (17.00) 89 (22.25) 112 (28.00) 89 (22.25) Breeze 71 (17.75) 92 (23.00) 101 (25.25) 102 (25.50) 74 (18.50) 122 (30.5) 104 (26.00) 78 (19.50) 97 (24.25) Total 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) Note: Figures in the parentheses indicate percentage to row total. Keeping in view the number of attributes, Viso was found as the best brand compared to Tide, Lix and Breeze by a large number of respondents. In the earlier analysis whiteness was revealed as the most important factor influencing the buying decision of detergent powder. Considering whiteness as a factor, around 33 per cent respondents viewed Viso as the best brand followed by Tide (26 per cent), Lix (23 per cent) and Breeze (18 per cent). In case of other attributes, such as cloth friendliness, safe on hands, power of storing for a long period, advertisement and brand image, Viso was considered as the best brand in the market as rated by around 29 per cent, 27 per cent, 26.5 per cent, 29 per cent and 28 per cent of the total respondents respectively. In case of attributes, such as better foaming and price, the brand Lix occupied the first position as found from the percentage of respondents. Considering the attribute packaging though it was found that around 31 per cent respondent were in favour of Breeze as the best brand, close to that 28 per cent respondents considered Tide as the next best brand. The brand Lix was considered as the best one by 34 per cent respondents in case of price as attribute, whereas, Viso was considered the next best by 26 per cent respondents. Thus, though the Fox Business Journal www.foxbusinessjournal.com Marketing Implication The analysis made earlier confirmed that the demand for detergent powder depends much on its ability to clean the clothes rather than other factors and further it is revealed that about 33 per cent respondents opined in favour of Viso for providing better cleanliness to the clothes. Thus, compared to the other brands, Viso was found to be the best due to the above factor. So to enhance the demand for the detergent powder in the market, the other competing brands should give more emphasis of bringing whiteness to the clothes. This simply means that the demand for the product much depends on its functional utility. Knowing this the marketer of the detergent powder should consider the same to gain a better market share. While ranking the different brands on the basis of a given set of attributes it is found that the competing brands had occupied different positions with respect to the attributes. Mostly, it is found that Viso was considered to be the best by higher number of respondents on the basis of its whiteness, cloth friendliness, safe on hands, power of storing for a long period, advertisement and company image. Considering this it is found that the brands like Tide, Lix and Breeze were favoured by limited number of respondents. Hence, for the other competing brands, it is most important to raise their functional values to get a better position in the market. In case of some attributes, such as, better foaming, price and packaging compared to the brand Viso, other brands got better position. Hence, to compete 76 Fox Business Journal in the market and attract the customers, Viso should relook its strategy with regard to these attributes. Competitive Analysis of Various Brands of Shampoo Considering certain attributes, such as removing hair dandruff, controlling hair fall, caring hair damage, providing extra moisturizing to hair, making hair long and shining black, packaging, price, advertisement, brand image, etc. the competitive analysis of various brands of shampoo is taken into account. For this purpose, the study has considered the brands like Pantene, ClinicClear, Head & Shoulder, Sunsilk, Palmolive, Dove, Rejoice and others. The other local brands of shampoo have not been taken into account with the simple assumption that these brands are not very effective players in the present market. The competitive analysis of various brands of shampoo is presented in Table 5.4.3. Table No. 5.4.3 Consideration of Best Brand of Shampoo on the basis of Selected Attributes Brand Attributes Removing hair dandruff Controlling hair fall Caring hair damage Providing extra moisturizing to hair Making hair long Shining black Packaging Price Advertisement Brand/company image Total Pantene 83 (20.75) 107 (26.75) 102 (25.50) 74 (18.50) ClinicClear 91 (22.75) 89 (22.25) 78 (19.50) 62 (15.50) Head & Shoulder 56 (14.00) 63 (15.75) 84 (21.00) 83 (20.75) Sunsilk 52 (13.00) 43 (10.75) 41 (10.25) 63 (15.75) Palmolive 47 (11.75) 39 (9.75) 40 (10.00) 46 (11.50) Dove 42 (10.50) 32 (8.00) 38 (9.50) 51 (12.75) Rejoice 29 (7.25) 27 (6.75) 17 (4.25) 21 (5.25) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 51 (12.75) 56 (14.00) 76 (19.00) 53 (13.25) 78 (19.50) 81 (20.25) 44 (11.00) 52 (13.00) 65 (16.25) 72 (18.00) 79 (19.75) 68 (17.00) 62 (15.50) 78 (19.50) 58 (14.50) 56 (14.00) 56 (14.00) 61 (15.25) 51 (12.75) 82 (20.50) 51 (12.75) 61 (15.25) 73 (18.25) 52 (13.00) 53 (13.25) 40 (10.00) 20 (5.00) 88 (22.00) 23 (5.75) 45 (11.25) 75 (18.75) 25 (6.25) 89 (22.25) 24 (6.00) 62 (15.50) 52 (13.00) 64 (16.00) 67 (16.75) 41 (10.25) 46 (11.50) 29 (7.25) 41 (10.25) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) 400 (100.00) Note: Figures in the parentheses indicate percentage to row total. Table 5.4.3 reveals the fact that considering the attributes, such as controlling hair fall, caring hair damage and brand image, Pantene was considered by the highest number of respondents as the best brand. So far as other attributes, such as removing hair dandruff and advertisement are concerned, Clinic Care was considered by the majority of respondents as the best brand. In case of providing extra moisturizing to hair, Head and Shoulder was considered by most as the best brand. The brand Dove was taken by others as the best for making hair long and better packaging as compared to others. So far as the price of shampoo is concerned, Palmolive was considered by majority as the best brand. For the other attribute, such as shining black while Sunsilk was the most preferred brand, Head and Shoulder was the next preferred one. However, the brand Rejoice had secured the lowest position in certain attributes taken into account except making hair long, shining black, packaging, price, advertisement and brand image. Figure 5.2.6 presented below shows clearly the competitive analysis of various brands of shampoo considering several attributes. Fox Business Journal www.foxbusinessjournal.com [2013] Marketing Implications The analysis carried out above with regard to the factors influencing buying of shampoo and choosing of a brand to be the best considering the attributes reveals the following marketing implications. i. The significant attributes influencing the buying decision of shampoo is the controlling of hair fall and caring for hair damage as revealed from the analysis. Considering the brand which meets the above criteria, it is found that Pantene was considered to be the most effective brand. Hence, to further strengthen the market, Pantene should give more emphasis on the above attributes. The other brands, such as Clinic Clear, Head and Shoulder, Dove and Sunsilk should also seriously think of their brands value in terms of the above attributes to pose a serious threat to the brand Pantene. ii. It is also revealed that removing hair dandruffis one of the important attributes in buying the shampoo. Data show that maximum number of respondents favoured Clinic Clear as the best brand in meeting the above criteria. Thus, it can be inferred that to gear up its demand and to fight with the brand Clinic Clear, Pantene and others should consider raising their removal of hair dandruff value in the brand. iii. Similarly, most of the respondents considered Head and Shoulder as the most preferred one for providing extra moisturizing to hair. Likewise, Dove was considered for making hair long while Sunsilk was taken by most as providing shining black to hair. Considering these findings, the reputed brands, such as Pantene and Clinic Care should promote these attributes effectively in their brands. iv. Very few respondents consider advertisement as one of the important factors in buying shampoo. However, Clinic Care had secured the first position so far the advertisement is concerned. To promote the brand and to strengthen the market position, the other brands should develop more appealing 77 v. vi. Fox Business Journal advertisement to create new demand in the market. While respondents had taken Dove as the most preferred brand for packaging, Palmolive was considered as the best for pricing. Thus, it can be stated that the other competing brands should add value to their brands for strengthening their base in the market in the long run on these attributes. So far the brand image is concerned; Pantene was rated as the best brand followed by Clinic Clear. Therefore, it can be inferred that the brands, such as Head and Shoulder, Sunsilk, Dove, Palmolive, Rejoice and others should develop appropriate measures to build their brand reputation. SUMMARY AND CONCLUSION A brand is a central node of an associative network constituted by consumers’ learned connections between the brand and a variety of cues, benefits, user types, and symbolic meanings. The foregoing analysis aims to provide a clear explanation on several conceptual issues relating to brand. In addition, it reviews the empirical findings on brand personality and competiveness. Further, an analysis is made on profiles of selected products and brands. From the review of literature it is found that though a good amount of studies has been carried out on issues relating to branding, brand image, brand performance, brand personality, brand competitiveness, etc. but very few studies on those issues relating to brand performance are taken up in small emerging as well as poor economies in the world. Understanding consumers’ awareness and knowledge about presence of several brands in the market and their perception levels for different products and brands in small economies are important. The analysis made in the present chapter clearly shows the competitive advantage enjoyed by the specific brands, such as Colgate, Viso and Pantene of the selected FMCGs. In case of all the selected three FMCGs, majority of respondents were aware of the presence of several brands in the market. A larger percentage of respondents were found in use of Colgate brand of toothpaste, Viso brand of detergent and Pantene brand of Shampoo. Respondents had considered several attributes for selecting the specific products as well as their preferred brands. The analysis has also clearly found a larger preference of customers in favour of these three brands of selected products over a longer period of time. It was found that in general, advertisement plays an important role in not only selecting the product but also the brand. Majority of the respondents in all the specific three brand Fox Business Journal www.foxbusinessjournal.com [2013] cases remembered the advertisement in some way or other and recognized that these brands by themselves were enough for sale. This reveals the brand identity enjoyed by the selected brands, i.e., Colgate, Viso and Pantene among others. As these brands are recognized by the respondents as household brands, they were perceived as having the highest preferred brands as against other competing brands. The important marketing implications derived from the analysis would be quite helpful for the respective brands as well as their competitors to develop appropriate marketing strategies. REFERENCES Aaker D. & Biel A. (1993): Brand Equity & Advertising: Advertising’s Role in Building Strong Brands,: Lawrence Erlbaum Associates Publishers, Hillsdale.. Aaker D. & Joachimsthaler E. (2000): Brand Leadership, The Free Press, New York. Aaker, D. (1991): Managing Brand Equity, The Free Press, New York. Aaker, D. (1996): Building Strong Brand, The Free Press, New York. Aaker, J.L. (1997): “Dimensions of Brand Personality”, Journal of Marketing Research, 34, pp. 347-356. Alkaratna, S. (1998): Characteristics of a Powerful Brand. Management Review, 10(4), Oct. – Dec., pp. 122. Balasubramaniam, V. (1998): Characteristics of a Powerful Brand. Management Review, 10(4), Oct. – Dec., pp. 122. Belk, R.W. (1988): Possessions and the Extended Self. Journal of Consumer Research, 2 (September), pp. 139-168. Biel, A. (1993): “Converting Image into Equity. Paper Presented in Brand Equity and Advertising”, NJ, Lawrence Erlbaum Associates, Hillsdale. Bijoor, H. (1998): Characteristics of a Powerful Brand. Management Review, 10(4), Oct. – Dec., pp. 122. Boshoff, C., Schlechter, C. & Ward, S.J. (2011): “Consumers’ perceived Risks Associated with Purchasing on a Branded Web Site, the Mediating Effect of Brand Knowledge”, South African Journal of Business Management, 42(1), pp. 45-54. 78 Fox Business Journal [2013] Brassington, F. and Pettitt, S. (2000): Principles of Marketing. Second Edition, Harlow: Prentice Hall. Marketing Intelligence and Planning, 19(7), pp. 482-492. Chiu, K.K.S., Hsu, M.K. & Chen, K. (2010b): “Brand Personality, Brand Preferences and Customer Perceived Value” Journal of International Academia-Industry Cooperation and management, 1 (3), 31-43. Keller, K.L. (1993): “Conceptualizing, Measuring, and Managing Customer-based Brand Equity”, Journal of Marketing, 57, pp. 1-22. Davies, G. and Chun, R. (2003): The Use of Metaphor in the Exploration of the Brand Concept. Journal of Marketing Management, 19(1/2), pp. 45-71. Davis, S.M. (2000): Brand Asset Management. Jossey-Bass Inc. Davis, S.M. (2000): Brand Asset Management. Jossey-Bass Inc. Dent-Read, C.H. and Szokolszky, A. (1993): Where Do Metaphors Come From? Metaphor and Symbolic Activity, 8, pp. 227-242. Diller, S., Shedroff, N. and Rhea, D. (2006): Making Meaning: How Successful Businesses Deliver Meaningful Customer Experiences. New Riders, Berkeley, CA. Ericksen, M.K. (1996): Using Self-congruity and Ideal Congruity to Predict Purchase Intention, an European Perspective. Journal of Euro-Marketing, 6(1), pp. 41-56. Fennis, B.M. & Pruyn, A.T.H. (2007): You are what you wear, Brand Personality Influences on Consumer Impression Formation. Journal of Business Research, 60, pp. 634-639. Gardner, B.B. and Levy, S.J. (1955): The Product and the Brand. Harvard Business Review, 33(2), pp. 33-39. Graeff, T.R. (1996): Using Promotional Messages to Manage the Effects of Brand and Self-image on Brand Evaluations. Journal of Consumer Marketing, 13 (3), pp. 4-18. Grubb, E.L. and Grathwhol, H.L. (1967): Consumer Self-Concept, Symbolism and Market Behavior: A Theoretical Approach. Journal of Marketing, 31, 22-27. Halliday, J. (1996): Chrysler Brings Out Brand Personalities with ’97 Ads. Advertising Age, 30, pp. 3. Jamal, A. & Goode, M. (2001): Consumers and Brands, a Study of the Impact of Self-image Congruence on Brand Preference and Satisfaction. Fox Business Journal www.foxbusinessjournal.com Klaus, P. & Maklan, S. (2007): The Role of Brands in a Service-dominated World. Journal of Brand Management, 15, pp. 115–122. Kleine, R.E., Kleine, S.S. & Kernan, J.B. (1993): Mundane Consumption and the Self, a Socialidentity Perspective. Journal of Consumer Psychology, 2(3), pp. 209-235. Kleine, R.E., Kleine, S.S. & Kernan, J.B. (1993): “Mundane Consumption and the Self, a Socialidentity Perspective” Journal of Consumer Psychology, 2(3), pp. 209-235. Kunde, J. (2002): Unique Now or Never: The Brand is the Company Driver in the New Value Economy. Financial Times/ Prentice Hall, London. Malhotra, N.K. (1988): “A Scale to Measure Selfconcepts, Person Concepts and Product Concepts”, Journal of Marketing Research, 23, pp. 456-464. Mehta, A. (1999): ‘Using Self-concept to Assess Advertising Effectiveness”, Journal of Advertising Research, 39, pp. 81-89. Moran, 1973; Moran, W.T. (1973): Why New products Fail. Journal of Advertising Research, 13, 5-13. Neumeier, M. (2004): The Dictionary of Brand. ISBN 1-884081-06-1. Oglivy, D. (1983): Oglivy in Advertising. Orbis Publishing, London. Ouwersloot, H. and Tudorica, A. (2001): Brand Personality Creation through Advertising. MAXX Working Oxenfeldt, A.R. and Swann, C. (1964): Management of the Advertising Function. Belmont, CA: Wadsworth Publishing Co. Parasuraman, A. & Grewal, D. (2000): “The Impact of Technology on the Quality-value-loyalty Chain, a Research Agenda”, Journal of the Academy of Marketing Science, 28(1), pp. 168\ Park, W.C. et al. (1986): Strategic Brand ConceptImage Management. Journal of Marketing, 50, pp. 135-145. 79 Fox Business Journal Phusavat, K. & Kanchana, R. (2008a): “Competitive Priorities for Service Providers, Perspectives from Thailand”, Industrial Management & Data Systems, 108, pp. 5-21. Phusavat, K. & Kanchana, R. (2008b): “Future Competitiveness, Viewpoints from Manufacturers and Service Providers”, Industrial Management & Data Systems, 108, pp. 191-207. Plummer, J.T. (1985): Brand Personality, a Strategic Concept for Multinational Advertising, Paper Presented at Marketing Educators' Conference. New York, Young and Rubicam. Plummer, J.T. (1985): Brand Personality, a Strategic Concept for Multinational Advertising, Paper Presented at Marketing Educators' Conference. New York,Young and Rubicam, pp. 1-31. Reynolds, T.J. and Gutman, J. (1984): Advertising as Image Management. Journal of Advertising Research, 24, 27-38. Shivakumar, D. (1998): Indian Brands: Quo Vadis. Management Review, 10 (4), October-December, pp. 90. Shocker, A.D. and Srinivasan, V. (1979): Multiattribute Approaches for Product Concept Evaluation and Silverstein, M.J. and Fiske, N. (2005). Trading Up. New York, NY: American Management Association. Sirgy, M.J. et al. (1997): Assessing the Predictive Validity of Two Methods of Measuring Self-Image Congruence. Journal of the Academy of Marketing Science, 25(3), pp. 229-241. White, I.S. (1959): The Functions of Advertising in Our Culture. Journal of Marketing, 23, 8-14. Wind, Y. (1973): A New Procedure for Concept Evaluation. Journal of Marketing, 37, pp. 2-11. Zalthman, G. (1997): Rethinking Market Research: Putting People Back. Journal of Marketing Research, 32, pp. 424-437. Fox Business Journal www.foxbusinessjournal.com [2013] Yu Ming Yang and Lou Wenjun, (2008), Brand Competitiveness, Wuhan University Press. Hu Dali and Chen Feilong, (2007), “The Origin and Formation Process of Brand Competitiveness,” Economic Management, (8): 40-44. Shi Pengli and Han Furong, (2008), “Brand Competitive Power Analysis of DNA Model,” Journal of Beijing University of Technology, (2): 23-27. Jin Xuemei, (2009), “The Analysis and Strategic Measures based on Obstacle Factors of Enterprise’s Brand Competitiveness of China,” Journal of Liaoning Vocational College of Economics, (01). Jiang Jinping, (2009), In the Era of New Economy Brand Theory: Based on Ontological Perspective Study on Brand Competitiveness, Beijing: China Social Sciences Press. I Liuxiang, (2002), “The Weak Formation of Brand Competitiveness in China,” Finance and Trade Economics, National Academy of Economic Strategy, China Academy of Social Sciences. Yang Limao and Tang Xuan, (2008), “Research on Collaborative E-Commerce System based on the Rosetta Net Standard,” Seventh Wuhan International Conference on E-Business. * H.E. Mik Saphanaret is a Senior Government officer located in Phnom Penh, Cambodia. He holds a Bachelor’s Degree in Agriculture, a MBA and a PhD candidate in Business Administration. Prior to entering academic life H.E. Saphanaret was active in Government officer; he remains the Indirect Managing Director of Hout Meng Rita Company, a company he founded in 2006. He is also a qualified Professor. These days he teaches Agriculture, Management, Marketing and Sales subjects to undergraduates students. He may be reached at hong.ams@gmail.com