Brand awareness is considered as an essential indicator of the knowledge of the consumers regarding the brand, its strength in its presence in the mind of the consumers and the process of retrieving that knowledge easily from memory (Perreault, Cannon and McCarthy 2013). Brand awareness is the most useful factor for promoting the products that are commodity related as these products have lesser numbers of factors that can differentiate one product from its other competitors. The present study focuses on the research question that highlights the influence of the brand awareness on the consumer loyalty, especially of the organization Woolworths.
The general objective of the research is to critically evaluate the influence of brand awareness on the loyalty of consumers of Woolworths.
The specific objectives of the present research study are:
It is the possibility that customers will simply be familiar with the subsistence as well as availability of all the product or services of the company. However, the customer loyalty can be considered as a measure of the degree to which customers are loyal to a specific brand, which stresses a dependable repurchase. Again, customer loyalty also leads to different results that can lead to emotional attachment with a brand. The emotional attachment of the consumers with the brand can be essentially directed by both commitment as well as affection of the consumers. However, the consumer thereby develops immense affection for the brand in a particular way that can be associated to friendship. Again, the contemporary marketplace is inundated with an extensive variety of different brands of products. As a result, harmonizing with this flood of different brands in the market place can help in generation of the customer loyalty. The growing of consumer awareness can help the customers to select to purchase their familiar as well as encouraging brand. As a result, in case if the businesses intend to rise above their rivals, they need to make customers admire to buying the products in addition to brands.
As rightly put forward by Kotler (2012), the researchers agree that branding delivers different variety of significant advantages to the industry. In particular, the brand identity assists marketers to differentiate the offerings of the company from its competitors. Consequently, the successful branding also helps corporations to lessen the costs of advertising by raising the brand awareness. The third factor involved in branding that can help the company to attain the position of a leader among different competitors in a similar category. Therefore, as a result the desirable identity of the brand helps in raising the profit margin resulting from the desirability of the consumer to make payments for a premium for different products as well as services. This might lead to profitable extension of the brand in a similar or else a dissimilar market. In the end, there is certain nature as well as characteristics of the process of branding that aid the firm to safeguard different product features of the corporation.
As rightly put forward by Czinkota and Ronkainen (2013), the process of branding delivers three different benefits that include the risk reduction, efficiency of information as well as self- expression. However, Perreault, Cannon and McCarthy (2013) put forward the argument that branding assists the customers to lessen the possibility of selecting a specific product that might not function well or else meet up the expectations of the consumers. Therefore, the process of risk reduction can be attained by providing strong assertion as regards the consistent quality. Branding might also assist customers to identify with and to become aware of different offerings in a particular category of the product.
De Mooij (2013) opine that the nature of scientific theory is primarily founded on conceptualization of theory. This concept essentially refers to the systematic set of different statements counting certain laws such as the generalization based on three different categories. The three categories of generalization include the systematic connections; inter related laws like the generalization as well as empirical process of testing. In order to generate a love mark, a specific brand needs to provide the customers three different elements of experience that comprises of the mystery, sensuality in addition to intimacy. However, in the view of Best (2012), a love mark can be regarded as a combination of high love for brand and respect. There can be discrimination between the love marks as well as the brands, different products in addition to fads founded on different levels love and respect that consumers experience.
The brand awareness can be regarded as significant part of the purchase intention as the consumers tend to purchase a familiar as well as a well-recognized product. As righty put forward by Kotler (2012), the perceived quality is an outcome of the subjective judgment of consumers on a particular product.
As correctly mentioned by Jobber and Ellis-Chadwick (2012), the factors that affects the perceptions of the consumers as regards a brand include quality, price, influence of other people, advertising, packaging and convenience.
The present section of the research methodology analyses different procedures that can be utilized in carrying out the research study. This section primarily outlines the research design, sample and population, sampling technique, method of data collection, interpretation of the data as well as limitations that can be observed during the process of the study (Terpstra, Foley and Sarathy 2012).
The learner intends to carry out a survey and case study based research. Therefore, the learner can apply both qualitative as well as quantitative data research technique in order to complement one another as both the techniques have benefits (Wilson et. al 2012).
The population of the study will be essentially restricted to all the customers and the customers of five different retail outlets of Woolworths in Australia. The total sample size of the research will be 100 respondents from the total population of the survey that consists of consumers of Woolworths.
As rightly put forward by McDonald and Wilson (2011), a definite sample is essentially a deliberate choice of the total number of respondents selected from a given population. The researcher intends to utilize the process of non-probability sampling for drawing a sample from a particular population.
The researcher intends to collect the requisite data for the research study by utilizing both the primary as well as the secondary data collection method. The learner intends to collect primary data from the results of the survey that is through a formally structured questionnaire containing pertinent questions regarding the customer decision-making procedure and the customer loyalty (Malhotra 2011). The learner intends to collect the secondary data from different published materials available in the print as well as the electronic media, significant journals as well as publications.
The process of data analysis involves the process of lessening as well as structuring the data, synthesizing and searching for considerable patterns. Different statistical tools as well as mathematical techniques include tables, graphs as well as pie charts (Lovelock 2011).
|
Activities/ Time |
Week 1-4 |
Week 4-6 |
Week 6-8 |
Week 8-11 |
Week 11-14 |
|
Area of Research, import and Research Question |
ü |
||||
|
Literature Review |
Ø |
ü |
|||
|
Research Design: Data type and Source, Methology |
Ø |
Ø |
ü |
||
|
Analysis, findings, and Discussion |
Ø |
Ø |
Ø |
ü |
|
|
Format of the Proposal, referencing |
Ø |
Ø |
Ø |
Ø |
ü |
Source: Developed by Roshana Raut
The whole business research report is divided into five activities which is clearly demonstrated in above Gantt Chart. The brief description of each of the activities is given below:
At the first stage of conducting research, the researcher needs to identify a business research topic and discuss about the business significance of the topic. Similarly, the researcher has to present a brief literature review on the research topic and write on background information on the research topic. It also contains research questions for the identified problem or opportunity. Meanwhile, there must be the description on appropriate research methodologies and techniques, research process, data collection and analysis methods and expected research outcome to use for the research project. Then after, the researcher must present a project plan using a Gantt Chart which clearly define the activities of the whole Business Project Report.
Literature review consist of developing a comprehensive literature review chapter for the business research proposal. The researcher has to identify a business research topic, describe the literature on the research topic and provide hypotheses based on the literature for the research questions.
It is a special form of information gathering where the researcher present the known body of knowledge relevant to the issues or problem which the researcher is addressing. The literature review is NOT just a string of authors, names, pages and references. It is structured as if the researcher is developing an argument explaining the need to undertake the research. Possibly, the researcher might point to: a gap in the literature, or an issue or question that needs more evidence or research.
In this stage of conducting research, the researcher needs to provide an introduction to data collection and analysis. The Data Sampling Method contains:
The Data Analysis includes:
The researcher must provide clear conclusion to data collection and analysis to end up this section of the project.
This part of the research contains the discussion on hypothesis for illustrations: Was your hypothesis supported or rejected? Give the reason. Similarly, the researcher has to describe on literature and research results as well as shows the implications of findings for the theory base, for the background, or relevant literature and provide recommendations.
It is a conclusion part of the business project which consists of the brief summary connecting business research topic to the research results and the exploration of suggestions to make further research on the topic.
The topic of “Impact of the Brand Awareness on Customer Loyalty” had been considered for the research analysis. The sales and operations of business organizations have been largely influenced by the use of branding and customer awareness. The loyalty of the customers is largely influenced by the good branding of the organization (Rubera and Droge 2013). The following literature has considered 4 topics related to the impact of brand awareness on customer loyalty. They are customer satisfaction, decision making process, branding strategy, and value added services. These four topics would be critically evaluated and analyzed for forming the literature review on the mentioned topic.
According to Leekha Chhabra and Sharma (2014), the branding strategy is a long term plan made for successful development of the specific goals for achievements. A well defined executed strategy would be helpful for the direct connection and linking of the various processes of the organization. The branding strategy is made after analyzing the consumer needs, competitive environment and emotions (Rubera and Droge 2013). Woolworths had set some specific goals and functions for dealing with the competitive issues from other super markets. The branding strategy had been used for making their sales processes for customers more effective and viable. The branding strategies followed by Woolworths include providing their own services, including various commodities of recognized brands and promoting their products with the help of various tools like broadcasting and social media sites. The branding strategies have a deep impact on the organizational sales of Woolworths. The branding strategies have some common aspects for promoting brand without highlighting the sales of products (Strebinger 2014). In spite of that, the customers are drawn to buy from the organization due to the branding strategies. The deployment of the smart strategies for the business processes had helped in easing the increment of the sales. The formation of the most systematic and concise processes had helped in developing the sales of the organization. For example, the brand split of Hero Honda into Hero Motocorp and Honda in India had seen a considerable decrease in sales (Seo and Jang 2013). Most of the customers have grown insecurity due to the brand split and started selecting some other companies for buying two wheelers.
However, some scholars have pointed out that although the branding strategies have significant importance with the organization’s operations, it cannot be concluded that the strategies have complete impact on the organization’s sales. The branding strategies have little or no effect on the sales of the company. For example, in 2013, McDonalds had implemented some new strategies for focusing on the targeted market of young kids by developing more kid’s friendly items and processes (Rubera and Droge 2013). The organizations have formed the strategies for dealing with the issues in their operations.
According to Kelley, Cranor and Sadeh (2013), decision making process is another important factor that is largely affected by the brand awareness. For the customers, the decision making process is very important as the selection of the products are largely initiated and ablated by the brands. The decision of customers for selecting the organization and their services is largely invoked by the brand. It is natural that the organization that has some renowned products and services would be selected from any other organization (Van Solinge and Henkens 2014). Woolworths had been providing the services not only to Australia but the whole world across the globe. The people had chose the organization due to its brand value as it has been serving his customers and making them happy with the services since the last few decades.
Woolworths is one stop for most of the items of general or everyday needs and it has become famous for providing its own made products and commodities at the most optimum price and cost. The customer’s selection of products and services are largely affected by the company providing them. For example: Most of the customers are fascinated and prefer watched and perfumes from Giorgio Armani (Hunink et al. 2014). It has become a brand that symbolizes and explicitly shows the classy and stylish looks and fragrance. Even if automobile cars are considered, some brands like Ferrari, Porsche, BMW, and Mercedes stand at top from other brands. People prefer bikes from Ducati, Kawasaki, and Yamaha companies.
However, many authors have claimed that the decision making process of the customers for selecting any specific brand is largely influenced by other factors rather than just its brand. The various functions of organization like marketing strategies, product’s prices, and discounts options also influences the decision of the customers. According to Kemper et al. (2013), the operations of the organization would be helped by the key decisions made by them. The decision making for the organization has been helpful for deciding their prospects for future. The organization has been using the concise and optimized price for attracting more customers.
The other factors have played some role for developing and attracting customers for buying from the store. The sales, discounts and offers have played a vital role for bringing the customers to the organization and making them use their existing products and services (Van Solinge and Henkens 2014). However, it is evident that the brands have a significant value for tending people to choose the services of the organizations. Woolworths provide the products of globally renowned brands and it has helped the people for getting various products of other countries at a single stop of Woolworths.
According to Pomeranz (2015), the value added services are helpful for attracting more customers to the organization. The organizations have been using some the benefits of some other services for attracting more customers towards the organizations. The deployment of the value added service has provided the ease of faster and compatible methods for promoting the operations and sale of the organizations (Chetty, Friedman and Rockoff 2014). Woolworths have deployed discounts and loyalty cards for attracting more customers towards the organization. The development of the new factors would be helpful for making more people use the services of the organization. The deployment of the discounts and loyalty cards have made people utilize services of Woolworths more specifically. The value added services are helpful for providing the most suitable development of the organizations and formation of the better services for the customers (Johnson 2014). The function of the value added services is used for attracting the customers so that they can get more sales in the company.
However, the deployment of the value added services had also resulted in diminishing the advent of the customers. A number of value added services are not acceptable by the customers. For example: there are many people who do not want the application of the several value added services from their telecom providers (Koopman, Wang and Wei 2014). The deployment of the value added services would make their operational functions more complex and uneasy for utilization. The customers of Woolworths like the various discounts and loyalty cards. However, the implementation of such facility had increased the number of footsteps in the shop. The management of so many people might result in some glitches and flaws that could hamper the overall functions of the organization (Chetty, Friedman and Rockoff, 2014). The other factors have played some role for developing and attracting customers for buying from the store. The sales, discounts and offers have played a vital role for bringing the customers to the organization and making them use their existing products and services.
The customer satisfaction deals with the analysis of the customers for finding out whether they are happy or not with the kind of services and products they are getting from the organization (Karna 2014). The customer satisfaction is based on many criteria such as price of the products or commodities, quality of the products or services, product or service delivery, and query solving communication means. The high prices of the commodities and services have a negative impact on the customer’s satisfaction. The optimum prices of commodities have been kept by many organizations for providing their customers with customer satisfaction. The deployment and consideration of the customer satisfaction has been helpful for forming better sales of the customers (Saeidi et al. 2015). The customer satisfaction is also influenced by the quality and deliverance of the products and services.
The organizations have been largely using successful customer satisfaction for making their brand more recognizable among other potential customers (Fornell, Morgeson III and Hult 2016). The converse statement that brand awareness plays a very significant role for increasing the satisfaction of the customers also holds true. The customer satisfaction is also dependent on the brand awareness and reputation of the organizations. The bigger brands and organizations have been deploying most suitable customer satisfaction for the employees. For example: The brands like Apple, Samsung etc have been largely benefited in terms of customer satisfaction and sales due to their brand recognition. The Brand reputation has been helpful for keeping the loyal customers stick to the brand for long (Blut et al. 2015). A specific group of customers such as business men have been glued to the brand Blackberry devices for the facilities of organizing their commerce related operations.
However, the collateral influence of the brand awareness on the customer satisfaction has not been seen in many cases too. There are various big brands and organizations that have been overlooked by customers due to lack of good quality of products and services (Fornell, Morgeson III and Hult 2016). The growth of despair among the people against any company or the reason behind leaving the services or any organization can be due to the increased prices too. For example: the growth in prices of hamburgers and burgers at McDonald had tended to discourage many customers for dining at the joint. Instead they started going to other places like Wendy, Burger king, etc.
There are many brands available for same services and products such as Alibaba, Amazon, Flipkart, etc (Saeidi et al. 2015). They have been supplying various products from different dealers and retailers to the customers through their ecommerce websites. The MNC and organizations with larger brand equity had been deploying most suitable services and products that have helped them for achieving better customer satisfaction. The brand value of the company has been helpful for performing global operations and achieving customer’s satisfaction.
Conclusion of the literature review
The literature review had consistently analyzed four points related to the main topic of the research paper that is “Impact of the Brand Awareness on Customer Loyalty”. The four points are Branding Strategy, Decision Making Process, Value Added Services, and Customer Satisfaction. The well defined executed strategy would be helpful for the direct connection and linking of the various processes of the organization. The deployment of the smart strategies for the business processes had helped in easing the increment of the sales. The deployment of the value added service has provided the ease of faster and compatible methods for promoting the operations and sale of the organizations.
However, the branding strategies have significant importance with the organization’s operations and for dealing with the issues in their operations. The sales, discounts and offers have played a vital role for bringing the customers to the organization and making them use their existing products and services. However, it is evident that the brands have a significant value for tending people to choose the services of the organizations. There are many brands that have been supplying various products from different dealers and retailers to the customers through their ecommerce websites. The brand value of the company has been helpful for performing global operations and achieving customer’s satisfaction.
For the analysis of the impact of the brand awareness on the customer loyalty, the analyst has considered the application of both quantitative and qualitative studies. In addition to that, the author has limited the research to the customers of Woolworths. For the identification of the impact of the brand awareness on the customer loyalty, both quantitative and qualitative data has been collected from the various sources. Smith, (2015) illustrated that the use of both qualitative and quantitative data helps in evaluating the undertaken topic with detailed analysis. According to Mertens (2014), the use of the secondary data sources is useful for evaluating and relating the impact of brand awareness from the theoretical aspect. On the other hand, the use of the primary data helps in providing statistical results to the undertaken study. According to Bryman and Bell (2015), the data helps in evaluating the research topic in a detailed and standard method. The application of the raw data allows evaluating the underlying and sensitive information about the undertaken topic. The secondary data can be obtained from the past studies and journals. The secondary data is used with the application of various theories and researches based on past studies. The source of secondary data is found to be various journals, and past studies on the similar topic. On the other hand, the source of primary data can be considered as the raw data obtained from direct interviews, survey and questionnaires.
In this particular study, the researcher has considered the detailed literature review as the secondary data for analyzing the impact of the brand awareness on customer loyalty. On the other hand, online survey has been conducted with the customers of Woolworths for collecting the raw data about the impact on the customer loyalty.
During the collection of the raw data from the survey, the analysts has selected retail sector for analyzing the impact of branding strategy. Considering the retail sector, the time limitation of the study has limited the analyst in considering one organization for conducting the study. Therefore, the research has considered the customer of Woolworths as the appropriate sample for collecting the feedback on the impact of branding strategy on the customer loyalty.
Online survey has been collected from the feedback taken from the customers of Woolworths. The analyst has selected the feedback form using the Google Form for obtaining the raw data. On the other hand, the analyst has use Microsoft Excel to record the feedback observation.
In this study, the sample for obtaining the raw data is much smaller compared to the criteria required for analyzing the impact of the brand awareness on the customer loyalty. The people who are involved with the study, wither indirectly or directly is considered as the population. Due to the time limitation and cross-sectional characteristic of the study, the analyst has limited the ample with the customers of one organization – Woolworths. In addition to that, since it was not possible for consider all the customers, the researcher has used a small sample of entire customers for conducting the study. The analyst has selected “Simple Random Sampling Techniques” for selecting the sample required. Therefore, for collecting the raw data, 100 customers of Woolworths have been selected randomly.
For ensuring the validity and accuracy of the information provided for the data analysis, the researcher has ensured no pressure has been exerted on the customers for participating on the survey. In addition to that, the analyst has considered only the feedback of the customers with a sense of voluntary participation.
The researcher has selected the statistical techniques of “multiple regression analysis model” for determining the validity of the developed hypothesis.
The use of “multiple regression model” helps in evaluating the acceptance criteria for the developed hypothesis. The regression model helped in determining the value of F, Significant F, ANOVA, regression statistics and co-efficient. According to the theory of Regression analysis, the acceptance criteria of the hypothesis has been identified by the value of Significant F. If the value of significant F is obtained less than 0.05, the NULL Hypothesis will be rejected, else the alternative hypothesis will be deemed true.
Conclusion to Data Collection and Analysis
The techniques and process mentioned in this particular chapter helps in in depth analysis of the impact of the branding strategy on the customer loyalty. Following the detailed process will help in minimizing the errors conducted due to manual analysis of the data.
The analysist has collected the raw data through the questionnaire and applied the “multiple regression model” for analysis. Through the application of the regression model, the analyst has aimed to identify the impact of the brand awareness of Woolworth on retaining the customer loyalty. The value of Regression Statistics has been utilized for identification of the factor impacting the loyalty of the customers of Woolworths. Apart from that, four significant area has been identified in the literature review namely customer satisfaction, customer’s decision making process, branding strategy of Woolworth and value-added service. For the evaluation of the validity of the identified factors, the analyst has developed four significant hypotheses.
In this particular section, the analyst has aimed at determining whether the customer satisfaction of the shopper is impacted by the brand value of Woolworths. For the analysis, the analyst has identified the two main factors impacting the customer loyalty of the customers, that are product price of products and advertisements. For this hypothesis, the customer loyalty has been considered as the dependent variable and the product price and advertisement as the independent variable. After applying the statistical tool, the regression model looks like:
Customer loyalty = A + B * advertisement + C * product price
Where A is considered as the Intercept,
B = the co-efficient of advertisement;
C = The co-efficient of product price;
The analyses of the first hypothesis with the obtained raw data looks like the following:
|
Regression Statistics |
|
|
Multiple R |
0.375831995 |
|
R Square |
0.141249689 |
|
Adjusted R Square |
0.123543497 |
|
Standard Error |
0.912245046 |
|
Observations |
100 |
|
ANOVA |
|||||
|
df |
SS |
MS |
F |
Significance F |
|
|
Regression |
2 |
13.27747073 |
6.638735366 |
7.97741766 |
0.000620219 |
|
Residual |
97 |
80.72252927 |
0.832191023 |
||
|
Total |
99 |
94 |
|
Coefficients |
Standard Error |
t Stat |
P-value |
Lower 95% |
Upper 95% |
Lower 95.0% |
Upper 95.0% |
|
|
Intercept |
1.028525669 |
0.276444871 |
3.720545316 |
0.000333195 |
0.479859125 |
1.577192 |
0.479859 |
1.577192 |
|
advertisement |
0.487211657 |
0.129942562 |
3.749438607 |
0.000301403 |
0.229311642 |
0.745112 |
0.229312 |
0.745112 |
|
price |
-0.056143649 |
0.09280578 |
-0.604958535 |
0.546619192 |
-0.240337433 |
0.12805 |
-0.24034 |
0.12805 |
(Alternative Hypothesis) H1: The customer loyalty is affected by the branding strategy used by Woolworths
(Null hypothesis) H0: The customer loyalty is not affected by the branding strategy used by Woolworths;
The value obtained from the analysis are used in the developed regression model:
Customer loyalty = 1.028525669 + 0.487211657 * advertisement + (-0.056143649) * product price;
After the analysis of the hypothesis, the obtained value of Significant F was found to be 0.000620219 that is much less than 0.05. Therefore, after analysis, the null hypothesis has been rejected. Therefore, the alternative hypothesis developed “The customer loyalty is affected by the branding strategy used by Woolworths” was obtained to be true for the study.
In this section, the analyst has identified that the brand image and availability of the products impacts the decision making process of the customer. The analyst has developed the hypothesis for evaluating whether the rate of customer retention is impacted by the decision making process. for this hypothesis, customer retention has been identified as the depended variable and the brand image and product availability has been identified as the independent variable. After applying the statistical tool, the regression model looks like:
Customer retention = A + B * availability of products + C * brand image
Where A is considered as the Intercept,
B = the co-efficient of availability of products;
C = The co-efficient of brand image;
The analyses of the second hypothesis with the obtained raw data looks like the following:
|
Regression Statistics |
|
|
Multiple R |
0.351987776 |
|
R Square |
0.123895395 |
|
Adjusted R Square |
0.105831382 |
|
Standard Error |
0.926499797 |
|
Observations |
100 |
|
ANOVA |
|||||
|
df |
SS |
MS |
F |
Significance F |
|
|
Regression |
2 |
11.7750183 |
5.887509149 |
6.858686278 |
0.001636682 |
|
Residual |
97 |
83.2649817 |
0.858401873 |
||
|
Total |
99 |
95.04 |
|
Coefficients |
Standard Error |
t Stat |
P-value |
Lower 95% |
Upper 95% |
Lower 95.0% |
Upper 95.0% |
|
|
Intercept |
1.238120425 |
0.291034541 |
4.254204402 |
4.83892E-05 |
0.660497424 |
1.815743 |
0.660497 |
1.815743 |
|
availability |
0.423190188 |
0.138242589 |
3.061214272 |
0.002851821 |
0.148816915 |
0.697563 |
0.148817 |
0.697563 |
|
brand_image |
-0.10647301 |
0.085806638 |
-1.240848176 |
0.217654547 |
-0.276775434 |
0.063829 |
-0.27678 |
0.063829 |
(Alternative Hypothesis) H2: The customer retention of Woolworths is affected by decision making process of customers;
(Null Hypothesis) H0: The customer retention of Woolworths is not affected by decision making process of customers;
After obtaining the value of the co-efficient from the regression analysis, the developed model looks like:
Customer retention = 1.238120425 + 0.423190188 * availability of products + (-0.10647301) * brand image
After the analysis, the Significant F’s value is observed as 0.001636682. The value analyzed is much less than 0.05. Judging from the value, the null hypothesis has been rejected and the validity of the alternative hypothesis that is “The customer retention of Woolworths is not affected by decision making process of customers” is found to be true.
In this section, the researcher has aimed at determining whether the value added services provided by Woolworths in attracting new customers. For this hypothesis, the “attracting new customers” has been determined as the dependent variable and the loyalty cards and discounts has been identified as the independent variable for analysis. After applying the statistical tool, the regression model looks like:
Attracting New Customers = A + B * Discounts + C * Loyalty Cards
Where A is considered as the Intercept,
B = the co-efficient of Discounts;
C = The co-efficient of Loyalty Cards;
The analyses of the third hypothesis with the obtained raw data looks like the following:
|
Regression Statistics |
|
|
Multiple R |
0.374408032 |
|
R Square |
0.140181374 |
|
Adjusted R Square |
0.122453155 |
|
Standard Error |
0.88740492 |
|
Observations |
100 |
|
ANOVA |
|||||
|
df |
SS |
MS |
F |
Significance F |
|
|
Regression |
2 |
12.4537133 |
6.226856652 |
7.907245153 |
0.000658767 |
|
Residual |
97 |
76.3862867 |
0.787487492 |
||
|
Total |
99 |
88.84 |
|
Coefficients |
Standard Error |
t Stat |
P-value |
Lower 95% |
Upper 95% |
Lower 95.0% |
Upper 95.0% |
|
|
Intercept |
1.041368396 |
0.260652623 |
3.995234669 |
0.000125917 |
0.524045091 |
1.558692 |
0.524045 |
1.558692 |
|
discounts |
0.448155873 |
0.119257651 |
3.757879426 |
0.000292674 |
0.211462448 |
0.684849 |
0.211462 |
0.684849 |
|
loyalty_cards |
-0.073628827 |
0.087917737 |
-0.837474094 |
0.404384845 |
-0.248121197 |
0.100864 |
-0.24812 |
0.100864 |
(Alternative Hypothesis) H1: The value-added services provided by Woolworths helps in attracting new customers
(Null Hypothesis) H0: The value-added services provided by Woolworths does not helps in attracting new customers
After obtaining the value of the co-efficient, the regression model looks like:
Attracting New Customers = 1.041368396 + 0.448155873 * Discounts + (-0.073628827) * Loyalty Cards
After conducting the analysis, the value of Significant F is observed to be 0.000658767. Since the observed value of Significant F is lower than 0.05, the analyst has rejected the Null Hypothesis. Therefore, the alternative hypothesis that is “The value-added services provided by Woolworths helps in attracting new customers” has been proved to be true.
In this section, the author has identified the brand equity impacts the customer satisfaction. On the literature review, the author has identified that the brand equity is impacted by the after sales service and the on-shop assistance provided by the Woolworths. The researcher has determined customer satisfaction as the dependent variable whereas the after sales service and on-shop assistance as the independent variable. After applying the statistical tool, the regression model looks like:
Customer Satisfaction = A + B* On-Shop Assistance + C* After Sales
Where A is considered as the Intercept,
B = the co-efficient of On-Shop Assistance;
C = The co-efficient of After Sales Service;
The analyses of the fourth hypothesis with the obtained raw data looks like the following:
|
Regression Statistics |
|
|
Multiple R |
0.35744363 |
|
R Square |
0.127765948 |
|
Adjusted R Square |
0.109781741 |
|
Standard Error |
0.986334472 |
|
Observations |
100 |
|
ANOVA |
|||||
|
df |
SS |
MS |
F |
Significance F |
|
|
Regression |
2 |
13.82299796 |
6.911498979 |
7.104341416 |
0.00132039 |
|
Residual |
97 |
94.36700204 |
0.972855691 |
||
|
Total |
99 |
108.19 |
|
Coefficients |
Standard Error |
t Stat |
P-value |
Lower 95% |
Upper 95% |
Lower 95.0% |
Upper 95.0% |
|
|
Intercept |
0.896286512 |
0.273185229 |
3.280874724 |
0.001438577 |
0.354089454 |
1.438484 |
0.354089 |
1.438484 |
|
after_sales |
0.549744253 |
0.145870879 |
3.768704609 |
0.000281831 |
0.260230938 |
0.839258 |
0.260231 |
0.839258 |
|
assistance |
-0.01890469 |
0.102108388 |
-0.185143356 |
0.853503167 |
-0.221561574 |
0.183752 |
-0.22156 |
0.183752 |
(Alternative Hypothesis) H4: The customer satisfaction is affected by the brand equity of Woolworths
(Null Hypothesis) H0: The customer satisfaction is not affected by the brand equity of Woolworths
After obtaining the value of regression co-efficient, the regression model looks like the following:
Customer Satisfaction = 0.896286512 + 0.549744253 * On-Shop Assistance + (-0.01890469) * After Sales
In addition to that, the value of Significant F for the fourth hypothesis is observed to be 0.00132039. Since the value observes is much less than the value 0.05, the null hypothesis has been rejected by the analysts. Therefore, the alternative hypothesis, that is “The customer satisfaction is affected by the brand equity of Woolworths” is proved to be true.
The literature review on the topic had been helpful for critically evaluating the role and impact of brand awareness and equity on the customer’s satisfaction. The literature review had been done for critically analyzing four topics and they are branding strategy, decision making process, value added services, and customer satisfaction. The final conclusion of the literature review had shown that these factors have strong impact on the development and the increment of sales numbers for the organization.
The research results had shown that the value of Significant F is approximately 0.00132039 and it is very low than the null hypothesis. Hence the hypothesis that the customer satisfaction is affected by the brand equity of Woolworths has been considered true from the analysis.
The research has shown that the study can be affiliated for signifying the impact of the brand awareness on the customer satisfaction. Some recommendations for the customer satisfaction and brand awareness are,
Well defined brand strategies: The well defined executed strategy would be helpful for the direct connection and linking of the various processes of the organization. The deployment of the smart strategies for the business processes had helped in easing the increment of the sales.
Various offers and brand value: The sales, discounts and offers have played a vital role for bringing the customers to the organization and making them use their existing products and services. The brand value of the company has been helpful for performing global operations and achieving customer’s satisfaction.
Conclusion and Future Work
Conclusion
The findings on the data analysis had shown that Woolworths had engaged on the use of brand awareness for increasing and improving the customer satisfaction for the organization’s services and products. The use of some of the branding strategies would help in the improvement of the business operations and increasing the customer’s experience for performing the operations of the business movements. The engagement of the customers for using the services and the products of Woolworths has been largely developed for the commercial operations of the organizations. The suggestions have been given for the improvement of the customer satisfaction and brand awareness at Woolworths.
The study has shown that there are several constraints and factors that have affected the completion of the research. The operations of the Woolworths have been largely impacted by the use of the brand awareness and branding strategies. The study has highlighted the impact of the branding strategies and awareness among the customers of Woolworths. The future work would be largely dependent on the evaluation and identification of the involvement of the business performance of Woolworths. Hence, it can be said that there are future scope for study left for the Woolworths organization.
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