The Sony Television and Panasonic Television - Case Study Example

THE INVESTIGATION ABOUT THE BRAND VALUE OF SONY TELEVISION AND PANASONIC TELEVISION Submitted by: XXXXXXXXX Number: XXXXXX of XXXXXXXXX Subject: XXXXXXX Subject Code: XXXXXX Tutor’s Name: XXXXXXX Date of Submission: XX – XX – 2010 Abstract The study in focus here is an investigation into the brand value of Sony Televisions and Panasonic televisions. The main research aims and objectives have been clearly defined and it is clear that the study will focus on detailing the impact of the brand value on customer loyalty as well as on the other factors that impact the brand value. The study also aims at differentiating between the brand value of Sony and Panasonic televisions. The research method used here will be a qualitative one and the techniques used will be in – depth interviews and focus groups. The main objectives of the research will lead to development of recommendations and policies which can be adopted by companies to help improve their brand value Table of Contents Abstract 1 Table of Contents 2 Statement of Problem: 3 Aims and Objectives: 4 Research Questions: 4 Literature Review: 5 Methodology: 7 Bibliography 8 Introduction: Brands and brand value is an essential aspect of every business. In the current period, with the intense competition that is present in almost every industry, the brand value is slowly becoming a major focus of attention for most businesses. Marketers realise the importance of brand value and there have been numerous theories and literature that is available on this topic. This paper aims to develop a research proposal on the topic of brand value and to investigate the brand value of Sony televisions and Panasonic televisions. The proposal includes a statement of the problem, the aims and objectives of the research; a brief intended literature review and research methodology. The proposal also outlines the philosophical and theoretical approaches taken in this research, as well as the research methodology. Statement of Problem: Brand Value is a growing concept and is becoming a major part of every company to help the company retain its competitive advantage in the markets. Branding of a company or a product is based on the product itself as well as a number of other aspects. The main issue here is to investigate the two brand names and to analyse why the brand value of each is different from each other, also the factors that influence the change in the brand value. Need for the Study This study will prove to be very beneficial as it will help analyse two major brands and analyse the factors that impact the brands and will also permit understanding the impact of these factors on brands. This is essential to be able to achieve a link between the most essential aspects of a business, i.e. brand equity, product features, price, brand value and the overall customer loyalty. Aims and Objectives: The main aim and objectives of this research is to investigate the brand value for two extremely huge brands, i.e. Sony and Panasonic. The paper aims at discussing the two brands and to analyse the brand values of these brands. A brief comparison of the two brands has also been made to identify the major differences between the two brands and thereby the value of the brands. Research Questions: The research aims at answering the following questions: a) Analysing the impact of various factors on the brand value b) Understanding the difference between the brand value of Sony Television and Panasonic Televisions c) Understanding the impact of the brand value on customer loyalty d) Understanding the impact of brand equity, product features and prices on the brand value Literature Review: According to the AMA (1960) brand can be defined as, ‘A name, term, sign, symbol, or design, or a combination of them which is intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors’ (Armi – Marketing, 2009). Branding plays a major role in building a positive experience for the customers. The literature review of this study will include the measurement and the management of brand values for companies. It is essential to understand that brand equity and value go hand in hand. Also brand equity also includes a number of intrinsic values. These measurable benefits will be analysed to gain an insight into the benefits of the products and services. The intrinsic equities that have been discussed above include a number of elements like, “the image imparted to the purchaser, advertising quality, advertising quantity, trust, and long term reputation for reliability, customer support, social responsibility, and so forth (SDR Consultants, 2010). The literature review will include a detailed analysis of Sony and Panasonic and a various aspects of the two company televisions will be discussed. Also, areas affecting customer loyalty will also be discussed to gain a clear view of the impact the brand value has on customer loyalty. The various factors of branding and brand value will also be discussed. These are as seen in the figure 1 below. A number of books, websites and academic journals will be used to gain the information. The financials of the two companies will also be used in brief to gain a better understanding of the impact of brand value on the overall revenues and sales of the companies. This will also provide a clear idea on the levels of customer loyalty as well. The main idea is to analyse the relationship of the following elements in terms of the two businesses and to identify how the brand value is impacted by the same (See figure 2). Figure 1: Factors Impacting Brand Value (Tutors, 2010) Figure 2: Brand Value Model (SDR Consultants, 2010) A brief list of the books and journals that will be used for this study has been included in the reference list below. Methodology: This part of the paper provides an insight into the research methodology that will be adopted for the study. This research aims at using the qualitative research method. A phenomenological paradigm is used for this research and various techniques like focus groups and in – depth interviews. Here the focus is on “understanding the human behaviour from the participant’s own frame of reference” (Collis & Hussey, 2003, p. 53). This method focuses on the facts that have happened or an event that was witnessed. This method can also be beneficial to “construct new theory to explain the phenomenon” (Collis & Hussey, 2003, pp. 56-57) or also to use the existing theories. Here a focus is “on the quality and depth of data” (Collis & Hussey, 2003, pp. 56-57). A combination of in – depth interviews and focus groups will be used to collect data and to gain a clear idea of the brand value of the two companies. Secondary data will also be used to detail the briefly the financial aspects of the two companies and the impact of brand value on the overall business. The questionnaire for the in – depth interview and the focus groups will be designed once the literature review is completed to get a more rounded and focused view on the issue. In conclusion, the research questions will be answered on the basis of “an informed academic judgement, adopting the conceptual world-view of a perspective or theory and evaluating competing perspectives and theories through the ‘lens’ of this world-view” (Redman, 2006, p. 29). The main objective of the research will lead to development of recommendations and policies which can be adopted by companies to help improve their brand value. Bibliography Bearden, W. O., & Laforge, R. W. (2003). Marketing, Principles and Perspectives: Principles and Perspectives. Irwin Professional Pub . Collis, J., & Hussey, R. (2003). Business Research: A practical guide for undergraduate and postgraduate students. London: Macmillan Press Ltd. Dick, A. S., & Basu, K. (1994). Customer Loyalty: Toward an Integrated Conceptual Framework. ournal of the Academy of Marketing Science , 99-113. East, R., Wright, M., & Vanhuele, M. (2008). Consumer Behaviour: Applications in Marketing. Sage Publications Ltd. Hakansson, H., & Waluszewski, A. (2005). Developing a New Understanding of Markets: Reinterpreting the 4Ps. Journal of Business and Industrial Marketing , p110-117. Hope, E. V., Casey, S., & Design, N.-I. (2008). Mastering Niche Marketing: A Definitive Guide to Profiting From Ideas in a Competitive Market. Globalnet Publishing. Jobber, D. (2004). Principles and Practice of Marketing. Berkshire: McGraw – Hill. Jobber, D. (2009). Principles and Practice of Marketing. McGraw Hill Higher Education. Kotler, P. (1999). Kotler on Marketing: How to Create, Win, and Dominate Markets . Free Press. Kotler, P., & Keller, K. (2008). Marketing Management. Prentice Hall. Malhotra, N. K. (1999). Marketing Research. An Applied Orientation. London: Prentice Hall. Noel, H. (2009). Basics Marketing: Consumer Behaviour . AVA Publishing. Perner, L. (2010). Consumer Behavior: The Psychology Of Marketing. Retrieved April 26, 2010, from http://www.consumerpsychologist.com/ Redman, P. (2006). Good Essay Writing. London: Sage Publications. Rudelius, W. (2008). Marketing 9th Edition. McGraw-Hill Higher Education -A. SDR Consultants. (2010). Measuring Brand Value. Retrieved September 28, 2010, from http://www.sdr-consulting.com/branding3.html Tutors. (2010). What factors are important in building brand value. Retrieved September 28, 2010, from http://tutor2u.net/business/marketing/brands_building_brands.asp Read More