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youth. These celebrities are treated as role models and trend setters for the
youngsters and Pepsi has tried to make use of these desired qualities to project
its brand. Its youth focus can also be observed from the change in its brand icon
from Sachin Tendulkar to Mahinder Singh Dhoni. The success of the Indian cricket
team in the recent times (specially the World Cup) has gone a long way in
strengthening its brand value in the minds of the consumers.
Brand equity is outcome that accrue to a need/want satisfier when the brand
name is added on. It is the incremental contribution (Money) per year obtained
by the brand in comparison to the underlying product (or service). The
incremental contribution is driven by the individual customers incremental
choice probability for the brand in comparison to his or her choice probability for
the underlying product with no brand-building efforts. The method provides
what-if analysis capabilities to predict the likely impacts of alternative strategies
to enhance a brands equity. Brand equity is one of the more popular concepts in
marketing today. It is also one of the most used terms in marketing research, and
the subject of much fuzzy thinking. In fact, there are several definitions of brand
equity, all of which stem from the concept of 'brand.' A useful definition is that a
brand is the sum total of all that is known, thought, felt and perceived about your
company, service or product. Branding, then, is the process of making products
and companies into brands - the consistent and disciplined way a company
communicates a brand's essence to the public. Consumers' response to the
brand revolves around the brand's image. This makes the concept an essential
input into marketing strategy since a positive, strong brand image will
presumably lead to choosing a particular brand. Achieving strong brand
differentiation is absolutely fundamental to building a compelling brand
relationship with customers. Brand equity can be thought of as the differential
effect of brand knowledge on consumer response to the marketing of the brand.
Fundamentally, high levels of brand awareness and a positive brand image
should increase the probability of brand choice. That is the fundamental goal of
managing one's brand. Brand equity only exists as a function of consumer
choice in the marketplace. And although marketing and communications efforts
can create and change brand images, brand equity comes into being when a
consumer chooses a product or service.
Findings of Pepsi Brand Equity Pepsi as a brand has done reasonably well in the
parameter Brand Knowledge by securing third position and in Brand
Leveragability by securing second position. Thus we can infer that the
respondents can differentiate Pepsi as a brand from other brands and could
easily relate it to other products as different as Cars and Shampoo. However in
the parameter Brand Vitality Pepsi is the last among the total brands indicating
that the respondents see the brand Pepsi as a brand which is very low in
Relevance, where as in the parameter buying behaviour where we had checked
the loyalty of the respondents towards the brands where the brand Pepsi again
was the last indicating that although the respondents are able to distinguish the
brand, they dont see the brand as a need/want satisfier. In Brand Association
where we had chosen four other factors besides the product attribute, Pepsi was
ranked third among the other brands, this indicates that the brand has got
promise in terms of the overall brand image and respondent still associate good
qualities with the brand name.
To assess the strength of the brandTo measure the equity of the brand Pepsi we will come up with a model that
brings out the overall perception of the consumer towards the brand which
influences their purchase, since the base product we were dealing with was cold
drink, where the prices of all the brands are the same thus a model defining the
premium that a brand can charge was not that relevant.
Brand Equity of a brand is one of the most important aspect if the company
wants to know how well the brand overall is being perceived by the consumer
and what are the deciding factors in consumers purchasing the product
From the study so far, we have observed that Pepsi enjoys reasonable amount of
Brand Knowledge as it stands among top 3 brands besides Thumbs Up and Coke.
According to the Attribute association, flavour and fizz are the most wanted
attributes by the consumers. As per the Brand association, Coca Cola is the
leader, which is then followed by Pepsi.
Suggestions:
Pepsi would need to reposition itself as a brand promising the most important
attribute respondent associate with any cold drink which would in turn increase
the repeat purchase of the brand.
It can leverage its name to other products like Beer, Condom Shampoo &
Apparels if it is considering to diversify.
Majority of the respondents associate Pepsi as a brand as very innovative, thus it
would do well to keep up to that positioning.