A study on building a brand for cotton through marketing research
- Importance and need of branding
- Major uses of cotton fibers
- Global scenario
- Market influencing factors
- Processing of cotton
- Analysis of the results of the questionnaire
- Date interpretation and research
- Comparing responses
- The 10 C's to make a strong brand
- Recommendations and suggestions
- Learnings and findings from the study
A product is a physical structure, but a brand is a perceptual entity that lives in the people's minds.
The first question that strikes our mind is ?why branding is necessary?? As the products fail to generate competitive superiority, the need for the brand arises.
Though essentially the product is a key for any company to enter the market, it does not guarantee the success of every product. The success of a product in a particular market does not just come from market participation. The only way to survive in the market, today, is when the consumer prefers our product over others. Influencing or attracting customers to one's products or services and against the competitors is critical to success of any business. So, branding aims at attaining such favor from the consumers. But one should always keep in mind that success always comes from creating value to customer from one's offerings in the market.
?The customers do not perceive the world as it is. Their internal mental image of the world, at times, differs from the external physical world. The reality for an individual is perceived. ?The objective reality of a product matters little; what matters is the customer's perception of a product or a brand.? Perception is the process by which the customers make sense out of world. Customers translate the external physical world into internal subjective world.?9
Strong brands are important both for the companies and for the consumers. Strong brands add value and increase revenues and also magnify the image of the companies. Thus they are important to the companies. For consumers, strong brands act as a source of quality certification and thus show them a product they can trust on.
A strong brand will allow you to influence the purchase decisions of the buyer and figure out perceptions held not only by your customers but also the prospects. It helps command a premium price and build customer loyalty through emotional association. It makes purchase.
[...] Besides traditional uses and as a result of different finishing processes that have been applied to the cotton fiber, cotton is made into specialty materials suitable for a great variety of uses. Cotton fabrics with specialty applications include, for example, fire-proof (flame resistant) apparel, which is suitable for professional uses and provides effective protection against potential risks associated with high temperature and particularly flashover. Flame resistant cotton fabrics are treated with chemicals. Without chemical treatment, cotton would burn up releasing very strong heat, just like the major part of synthetic fibers, which melt when they are exposed to high temperatures. [...]
[...] And so they are now want to be successful in introducing a brand to their cotton Connected A strong brand is well connected to different people or groups or communities. It means having a network of employees, partners or alliances and also having good links to the entire supply chain. It all means being connected with the society in general though undertaking socially responsible activities. All these help in building successful brand image and thereby building brand loyalty which in turn extends the sales of the company. [...]
[...] So, we can conclude that branding cotton will sure help in gaining a premium over the market price which helps for a better marketing. Q4. Can consistency in quality be achieved after branding? The results are statistically summarized as below: Table 4.4 Response No. Of Percentage Respondents Diagram 4.4 In the above statistics 50% of the respondents say that consistency couldn't be achieved after branding cotton. A competing 37% say that consistency is not a fruit on high branches, where as 13% couldn't say anything. [...]