Task:
Literature review
1.1 Introduction
As per Snyder (2019), literature review supports the study to address all the issues of study while understanding previous or existing researches on the research matter. It also helps in resolving the research questions. This section aims to examine the traditional and modern approaches towards brand development concerning marketing strategies. Also, it will critically give an understanding regarding the role of consumer buying behaviour on brand development.
1.2 Importance and benefits of brand development
Considering the study of Fournier, Breazeale, & Avery (2015), strong brands are irreplaceable and help in reaching the customer base, increases customer loyalty and builds recognition. It is significant for small, medium, large, and all kinds of the business to develop their brand as it supports the business to fulfil long-term goals.
In support of this, Giovanis & Athanasopoulou (2018) stated that branding techniques are considered as the long-term plan which is a critical long-term investment in the business. This makes the business competitive and helps in generating future sustainability.
The uncertainty in the business environment, increasing competition, growth in the global economy in relevance with the technology and modern techniques, and growing importance of services – forces organisations to search out the sources for increasing the competitive advantages (Rosa & Mendes, 2015).
Significantly, as per Cvetanovic & Grujic (2021), there are various benefits of branding such as increasing the motivation of employees, higher customer loyalty, increasing profit, support product launches, customer recognition, competitive advantages, and brand identity.
1.3 Impact of traditional and modern marketing strategies in enhancing brand development
As per the opinion of Aljumah, Nuseir, & Alam (2021), traditional marketing strategies aim at the product’s marketing for acquiring more profit. This mode of marketing is where offline promotional campaigns and advertisements are being used for targeting potential customers. For example, direct sales, advertising through radio, magazines, TV, newspapers, direct mails, etc. These techniques support the business and help in reaching the potential market which has a direct impact on enhancing the brand development.
On contrary, Saura, Palacios-Marques, & Ribeiro-Soriano (2021) stated that this world is now digital-dominant, where modern marketing is supporting the businesses for satisfying the needs of customers more effectively. In comparison to traditional marketing, it focuses on the wants and needs of the consumers instead of a product. Additionally, the purpose of modern marketing is customer satisfaction rather than earning profit. It supports the business more for developing their brand.
On the other hand, Mirzaei et al. (2012) observed that there are some basic strategies followed by the traditional marketing i.e., understanding the behaviour of customers, using conventional techniques, outdoor selling, printing, telemarketing, and many more which engages the customer’s interest at large portion – which generates value brand as well.
In contrast to this, modern marketing has digital platforms, such as SEO, social media, internet ads, e-commerce websites, etc. for reaching customers. It has been examined that 93% of online communication begins with the support of SEO and more than 77 thousand internet users searches on Google each second (Humans & Robots, 2021). For instance, these techniques effectively support the business for developing a brand.
1.4 Role of consumer buying behaviour on the brand development
As per the views of Ebrahim et al. (2016), customers are the most significant stakeholders of a business and their behaviour has a direct impact on the business of the company. The area of responsibility of any organisation is to fulfil customer satisfaction.
In support of this, Zekiri & Hasani (2015) stated that it is essential to know about the likes and dislikes of the customers – as it supports the marketers to increase the customer loyalty, engagement, and satisfaction.
Furthermore, targeting the potential customers increases the customer base which has a direct impact on the maximum purchase of a product.
For instance, if the new launch is for children, the target audience should be the parents on priority. Kids are unable to buy expensive products. It influences the buying behaviour of customers which further results in developing a strong brand (Ebrahim et al., 2016).
Assume you are interested in pursuing postgraduate studies at another university in the field of your liking (related to SQ1, Lit Review and SQ2). You are required by the university to submit a mini-research proposal in which you will present a plan for research in the area of marketing, advertising and communications.
The goal of your proposal is to convince the panel of selection that you are capable of successfully conducting the proposed research project. The proposal is a research report that you will write and present before beginning research. As such, the proposal should describe the rationale for the problematic behind the research question you are proposing (SQ1), offers a literature review (Lit Review) and provides a detailed account of the techniques, methods that will be used (SQ2), and why they are appropriate.
