Consumers' Attitude toward Brand Extensions Dissertation

Consumers' Attitude toward Brand Extensions - Dissertation Example I would first like to thank my tutor who offered valued and constructive advice on how to put this piece of work together. I would like to thank my family for allowing me the space to work and contributed through support for this endeavour. I would also like to thank the University for contributing significantly to my education to get me the point of being able to complete this work. Contents Contents Contents 5 Figures 7 Abstract 8 Chapter One: Introduction 9 1.1 Background 9 1.2 Aim and Objectives 10 1.2.1 Aims 10 1.2.2 Objectives 10 1.3 Research Design 11 1.3.1 Theoretical Frameworks 11 1.3.2 Purpose of the Study 12 1.4 Structure of Study 12 Chapter Two: Literature Review 14 2.1 Introduction 14 2.2 Brand 14 2.2.1 Brand Equity 15 2.2.2 Brand Mythology 18 2.2.3 Global Brand Power 20 2.2.4 Brand Extensions 21 2.3 Consumer Behaviour 23 2.3.1 Attitude Theory 25 2.3.2 Expectancy Value Theory 26 2.4 Summary 26 Chapter Three: Methodology 28 3.1 Introduction 28 3.2 Research 29 3.2.1 Resear ch Questions 29 3.2.2 Secondary Research 30 3.2.3 Primary Research 30 3.2.4 Questionnaires/Surveys 31 3.2.5 Sampling 32 3.2.6 Pilot Study 33 3.3 Research Study 34 3.3.1 Research Subject 34 3.3.2 Data Analysis 34 3.3.3 Limitations 35 3.4 Ethics 36 3.5 Summary 36 Chapter Four: Results and Discussion 37 4.1Introduction 37 4.2 Quantitative Research 38 4.2 1 Demographics 38 4.2.2 Questionnaire Results 39 4.3 Qualitative Research 45 4.3.1 Group Interview 45 4.3.2 Observation 49 4.4 Discussion 50 4.5 Summary 51 Chapter Five: Conclusion 52 5.1 Introduction 52 5.2 Motivating Consumers 53 5.3 Decision Making Process 55 5.4 Responses to New Products 56 5.5 Reputation 56 5.6 Consumer Types 58 5.7 Consumer Attitudes 59 References 61 Appendixes 63 Appendix 1: Questionnaire 63 Appendix 2: Interview Questions 66 Figures Fig. 1 Stakeholder Journey (Fisher-Buttinger and Valaster 2003: 206) Fig. 2 Brand Extension Longevity from Originating Product (Kapferer 2008: 334) Fig 3 Male to Female Ratio compar ed to Male to Female Brand Buying Habits Fig. 4 Trust in a Brand Fig 5 Meaning Associated with using a Brand Name Fig 6 Comparison of Trust and Meaning of a Brand Name Abstract The following paper has been written in order to explore the nature of consumer attitudes towards brand extension. The research has been conducted through a mixed methodology with quantitative research conducted through a questionnaire format, and qualitative research conducted through both a group interview format and a period of observation on the response to brand extensions within a retail venue. The results show that while consumers wish to believe that each product is assessed purely on its own merits, the truth of their experience is that they will more likely try a new product that is brought onto the market by a trusted brand than one that has a brand name that is unfamiliar, even if it is the same product. As well, a product that merely carries a brand name, but without attributes of any of the prod ucts that are carried by that brand, will be suspect and will not have the same power. It is the conclusion of this research that a brand extension provides a powerful resource for expanding a business if done with the power and equity built by that brand in consideration of relatable attributes.