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Learning Team - 2 Marketing Mini Project.docx (1)
Learning Team - 2 Marketing Mini Project.docx (1)
19 Pages 1.2MB
Mar 17, 2024 6:21 PM GMT+5:30 Mar 17, 2024 6:22 PM GMT+5:30
Summary
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Study on Consumer Based Brand Equity of SWIGGY INSTAMART
Introduction:
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Customer-based brand equity (CBBE) is built on the concept that to build a strong brand – it is
important to understand how the customers think and feel about your product. For a customer
to love your product, you must build pleasant experiences around your brand. If they
experience positive thoughts, opinions, feelings, and perceptions about your product, then it
signals positive brand equity.
Customer-based brand equity shows the power of a customer’s attitude towards a brand, and
how it can lead to the success or failure of a brand. It emphasizes laying a strong foundation
that can create a positive attitude towards a brand.
Customer‐based brand equity is built on five important elements: value, performance, trust,
social image, and commitment. It is important to understand that these elements are in the
minds of customers, and hence, brands should build strategies to build these permanently in
the minds of customers. It should start by establishing a relationship with the customer’s needs
and the product offering. When a customer feels that the product is the best for his needs, the
relationship starts. This can be built to be raising awareness about your product.
Once the customer knows about your product, it is important to deliver quality and reliable
performance every time. This is important to get deep-rooted imprint about your brand in the
customer’s mind. Once this is achieved, it can be further enhanced by using attractive packing,
excellent customer service, a colorful logo, and visual advertising.
The final stage is to create an emotional bond with the customers by giving special offers and
discounts. This increases emotional response, thereby creating a strong relationship with the
brand.
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This study is an attempt to know the CUSTOMER BASED BRAND EQUITY (CBBE) of
SWIGGY INSTAMART.
COMPANY PROFILE
5
Swiggy has been synonymous with the on-demand delivery of food from your favorite
restaurants. Launched in August 2020, Swiggy Instamart was an extension of Swiggy’s mission
to enable unparalleled convenience, just the way we have with food. Swiggy Instamart was
born in the middle of the pandemic, in August 2020 and has led the way in creating this category
in the country. Today, Instamart is present in 28 cities and counting.
LITERATURE REVIEW
7
The concept of customer-based brand equity, or CBBE, has gained popularity in the ever-
changing marketing landscape as a key factor influencing consumer choices and brand
performance. CBBE clarifies the inherent value that brands possess in competitive markets by
capturing the combined effects of brand awareness, connections, perceptions, and loyalty upon
consumer decision-making processes. The CBBE conceptual framework, which has its roots
in the foundational writings of marketing theorists like Aaker and Kevin Lane Keller,
emphasizes the role that brand salience and resonance play in influencing consumer preference,
intent to buy, and long-term commitment to the brand.
Scholars have put forth a number of conceptual frameworks and models in the academic
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discourse to explain the dynamics of CBBE. These models and frameworks range from Aaker's
Brand Equity Ten to Keller's Brand Equity Model, and each provides a different perspective on
the mechanisms that underlie brand-consumer relationships. In addition, measuring CBBE
poses a methodological difficulty that necessitates the use of both qualitative and quantitative
methodologies in order to adequately represent the multidimensional character of brand equity.
Scholars have worked to build accurate metrics for evaluating brand strength, prominence, and
equity across a range of contexts and businesses. These metrics range from brand audits and
feedback from consumers to advanced statistical analysis.
RESEARCH MODEL
A thorough grasp of the dynamics involved in creating and using brand equity is encompassed
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by the study model presented in this overview of the literature on the conceptualization,
measurement, and management of customer-based brand equity. Fundamentally, the paradigm
outlines three interconnected parts: CBBE management, measurement, and conceptualization.
First, scholars have offered a range of theoretical frameworks to comprehend the basic
processes behind brand equity; these frameworks need to be combined in order to grasp CBBE.
Keller's Brand Equity Model (1993) provides a foundational framework that elucidates
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how awareness of a brand, associations, perceived quality, and loyalty influence consumer
reactions to companies. Our understanding of the complexity of CBBE has enhanced as a result
of subsequent research that have added components like emotional branding, authenticity, and
brand personality to this model.
Second, in order to properly evaluate various aspects of brand equity, the evaluation of CBBE
requires the application of both qualitative and quantitative approaches. Customer surveys,
brand monitoring studies, and brand audits are well-known methods for determining the
strength and salience of a brand across a variety of marketplaces and consumer segments. In
addition, a wide range of metrics are used to measure consumer attitudes and perceptions of
brands, such as Net Promoter Score (NPS), recall, recognition, and purchase intention.
Nonetheless, difficulties continue to arise in formulating all-encompassing metrics that
adequately depict the comprehensive character of CBBE, therefore requiring more
improvement and verification of measurement methodologies.
KEYS CONCEPTS
BRAND KNOWLEDGE
In the world of marketing, a brand's ability to succeed depends on its brand expertise. It
includes all of the different connections, interpretations, and encounters that customers have
with a specific brand. Based on Kotler's (1991) description of a brand, which includes
designation, term, indicate, symbol, or design, understanding a brand is the entirety of these
elements and their relationships.
Alba, Hutchinson, with Lynch (1991) assert that comprehension of brand knowledge is
essential since it directly affects how consumers make decisions. This influence is especially
noticeable in how customers react to brand-related marketing initiatives. Through an
understanding of the composition and substance of knowledge about a brand, marketers are
able to influence consumer attitudes and actions toward their brands. The association network
memory model is a commonly recognized paradigm for comprehending memory organization
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and its connection to brand knowledge (Anderson had, 1983; Wyer was and Srull, 1989).
According to this model, semantic memory or information is represented as a network of nodes
that are connected to one another to varied degrees of connection strength. Through a process
called spreading activation, the triggering of one node in the system might cause related nodes
to also activate.
When it comes to brands, this means that when customers are exposed to stimuli connected to
a brand—like packaging, advertising, or product experiences—their memories of that brand
are activated. For instance, because of its close ties to the soft drink sector, consumers may
immediately think of the brand "Pepsi" when considering soft drinks.
BRAND AWARENESS
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One of the most important aspects of brand knowledge is brand awareness, which is crucial to
customer decision-making. This section will examine brand awareness, including its elements
and importance in influencing consumer behavior. It will do so by referencing pertinent
literature as well as Rossiter and Percy's (1987) research.
Elements of Brand Recognition:
Brand Recognition: Using the company name as a cue, customers can verify that they have
previously encountered a brand. Put more simply, it indicates that the customer can recognize
the company's name as familiar when they come across it. For example, customers are able to
reliably identify a brand when they see or hear its logo.
Brand Recall: When consumers are given cues like the product category, particular demands,
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or other pertinent prompts, they should be able to recall the brand from memory. In contrast to
brand recognition, people must recall the brand name by memory. For instance, when asked to
name soft drink brands, people who, when prompted, automatically say "Coca-Cola" or "Pepsi"
exhibit brand recall.
BRAND IMAGE
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Although there is disagreement about the exact definition of brand image, it has long been
recognized as a key term in marketing (Dobni and Zinkhan, 1990). Based on the work of
Herzog (1963), Stanford (1957), and the association-based recall framework for knowledge of
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a brand, brand image is the representation of a brand that customers have of it in their memories
through brand associations.
Brand Image's Significance in Brand Equity
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Important aspects of brand knowledge that have a big impact on brand equity are favorability,
courage, and distinctiveness of brand associations, especially in high-involvement decision
contexts. These factors, which include customer preferences, perceptions, and purchasing
intents, influence the distinct response that the brand elicits.
To summarise, the body of literature pertaining to Customer-Based Branding (CBBE)
comprises an extensive range of notions, models, and empirical studies that are designed to
comprehend and manage the importance of brands from the viewpoint of their customers.
Keller's CBBE model provides a fundamental framework for researching brand equity, and
empirical research offers insightful information on the causes, effects, and managerial
implications of brand equity in various contexts and industries.
REFERNCES
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Lassar, W. M., Mittal, B., & Sharma, A. (1995). Measuring customer‐based brand equity.
Journal of Consumer Marketing, 12(4), 11–19. https://doi.org/10.1108/07363769510095270
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Keller, K. L. (1991). Conceptualizing, measuring, and managing customer-based brand equity.
Keller, K. L. (1993). Conceptualizing, measuring, and managing Customer-Based Brand
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Equity. Journal of Marketing, 57(1), 1. https://doi.org/10.2307/1252054
Lassar et al. (1995)
Primary objective:
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To study the consumer based brand equity of SWIGGY INSTAMART
3
SOURCES OF DATA: Data collection is the term used to describe a process of preparing
and collecting data. Primary Data – Questionnaire given to 50 respondents in google forms
Secondary Data - Websites and online journals, Published reports & Review of literature from
published articles.
3
SAMPLING TECHNIQUE
Convenience sampling method : A convenience sample is one of the main types of non-
probability sampling methods. A convenience sample is made up of people who are easy to
reach.
ANALYTICAL TOOLS:
3
1.Bar graphs : It is a chart or graph that presents categorical data with rectangular bars with
heights or lengths proportional to the values that they represent. The bars can be plotted
vertically or horizontally. A vertical bar chart is sometimes called a column chart. A bar graph
shows comparisons among discrete categories. One axis of the chart shows the specific
categories being compared, and the other axis represents a measured value. Some bar graphs
present bars clustered in groups of more than one, showing the values of more than one
measured variable.
3. Pie charts: A pie chart is a circular statistical graphic, which is divided into slices to
illustrate numerical proportion. In a pie chart, the arc length of each slice is proportional to the
quantity it represents. While it is named for its resemblance to a pie which has been sliced,
there are variations on the way it can be presented.
Brand Identity of Insta mart
Swiggy Instamart, as the grocery destination under the Swiggy umbrella, has carefully crafted
its brand identity to resonate with everyday users and make grocery shopping a personal,
easy, and efficient experience. Let’s delve into the key aspects of Instamart’s brand identity:
1. User-Centric Approach: Instamart recognizes that grocery shopping is not just a transaction;
it’s an everyday affair with emotional significance. Unlike traditional in-store experiences,
online grocery shopping lacks the serendipity of discovering new products while strolling
through aisles. Instamart aims to bridge this gap by understanding users’ needs and
preferences.
4. Business Impact:
o Rebranding Success: Swiggy’s rebranding efforts have been fruitful. From its humble
beginnings in 2014, serving a few neighborhoods in Bangalore, Swiggy has now raised
over USD 2.4 billion in venture funding from prominent investors.
Sophisticated Technology Vibe: The brand’s visual language evokes sophistication and
technology through:
Multi-Platform Brand Campaign: Instamart has intensified its reach through a brand
campaign called “Healthy Disses”, featuring popular southern stars Simran and R.
Madhavan3.
4
Bold Move: Swiggy’s product, design, and engineering team managed to pilot Instamart in
just a month, demonstrating their agility and commitment to innovation
4
The leaflet that accompanies an Instamart order says, “Swiggy redefined the way you order
food. Now, we are redefining the way you order groceries.”
4
All cloud groceries solve for the frustration of outdated inventory and non-availability of
items in brick-and-mortar stores. Swiggy is aware that its offering and value proposition need
to be sharply differentiated. Based on the insight that households order a limited subset of
products every day, Swiggy Instamart promises to deliver your order within 45 minutes, from
7 am to 1 am. The promise of this high-convenience model is backed by ‘dark stores’ and a
hub-and-spoke configuration of micro-fulfilment pods.
2
The structure of the Instamart landing page follows a ‘3i’ framework that maps to these three-
user need-states: Intent, Indulgence and Inspiration.
2
1. Enabling Intent
The first half of the Instamart landing page has the familiar ‘Frequently bought items’ and
‘Shop by category’. This is where users are expected to quickly buy the essential items they
need.
2. Tempting Indulgence
‘Must try this week,’ is the next section on the landing page. It offers interesting finds —
from exotic fruit ice-creams to a variety of chips and specialties like a coconut-aloe drink.
Tempting the user to discover and indulge are sections like ‘Chocolate Love’ and ‘Monsoon
Treats.’ Careful thought has gone into curating the items in each section — for instance, a
berry-flavoured yogurt and peanut chikki find their way into a ‘Sweet Cravings’ section,
alongside more typical sweets, and desserts.
There is also a brands partnership widget that lets you explore a set of curated, ‘cool brands.’
3. Driving Inspiration
The last part of the page, with its endless scroll, is where the Instamart difference really
shines through. ‘Stir up a Party’ has the mixers and munchies you would need if friends were
dropping by for drinks. ‘The Weekend Chef’ has a selection of pasta and noodles, with
accompanying sauces. The idea is to inspire you to try something different, with the
convenience of all products available in one place and delivered in less than an hour.
From the above Bar Diagram, It is interpreted that 75% of the data collected are from
Bengaluru/Bangalore, 5% are from Guntur, AP. And remaining 20% are from various places in
india such as Sikkim, Indore, Kolhapur, Rohtak, Kharagpur, Mandsaur.
2.
From the above bar diagram, it is interpreted that Customers are most aware of the grocery
shopping brands like Blinkit, Zepto, bigbasket. And some Customers are aware of Amazon
fresh, Jio mart, Walmart, Flipkart grocery, Dunzo etc. Very few people mentioned swiggy
instamart.
3.
From the above pie-chart, we can interpret that 98% of the customers we heard of the brand
Swiggy instamart, only 1 person mentioned that he is not heard of swiggy instamart. From this
we can say that Instamart has good customer reach.
4.
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From the above pie-chart, we can interpret that 42% of the customers choose online grocery
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stores like Instamart when they need groceries urgently, 40% of the customers choose online
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grocery stores like Instamart because they don’t have the time to go to offline stores and 12%
choose because of the heavy crowds in Grocerry Stores. And 6% choose because to complete
a small top-up Groccery store.
5.
From the above pie chart , we can interpret that 38% use the grocery delivery app like instamart,
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Few times a month , 24% once a month, 22% Once a week, 10% several times a week, 6%
never uses every month.
7.
From the above bar diagram we can interpret that 52% of the customers gave 5points as they
11
feel that it is easy to use swiggy instamart app to place an order, 32% of the customers gave 4
points , 14% of the customers gave 3 points, 2% of the customers gave 2 points and no one
feels hard to place an order in instamart.
8.
From the above bar diagram we can interpret that 24% of the customers felt that instamart offer
vide variety of Grocerry items so they gave 5 points and 48% gave 4 points for vide variety of
Grocerry items, 4% feel that threre are less varirty of grocery items.
9.
From the above pie-chart, we can interpret that 50% of the customers felt that swiggy instamrt
offer better value of money compared to physical stores. 42% of the customers felt they might
be getting better value of money, and only 8% of the customers felt that it was not better value
of money compared to physical stores.
10.
From the above bar diagram we can interpret that, 80% of the customers described instamart
as Time saving , 32% of the customers described instamart as convenient, 26% of the customers
described instamart as easy to use, 22% of the customers described instamart as Reliable, 20%
of the customers described instamart as Affordable, 19%of the customers described instamart
as wide selection, 17% of the customers described instamart as Eco- Friendly Packing, 10% of
the customers described instamart as high Quality products.
11.
From the above bar diagram we can interpret that, 36% of the customers felt that Instamart is
Fast delivery, 25% of the customers felt that Instamart has Special Deals and offers, 21% of
the customers felt that Instamart has secure Payment system, 19% of the customers felt that
Instamart has variety of groceries.
12.
From the above pie-chart, we can interpret that, 52% of the customers sees the advertising for
swiggy instamart in Social media plat forms, 38 % of the customers sees the advertising for
swiggy instamart in Swiggy app, 6% of the customers sees the advertising for swiggy instamart
in Billboards of urban areas,2% of the customers sees the advertising for swiggy instamart in
emails and p2p marketing.
13.
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From the above bar diagram we can interpret that, 58% of the customers feels it is most
important that grocery delivery service should use eco-friendly packing. 30% of the customers
16
feels it is important that grocery delivery service should use eco-friendly packing. 8% of the
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customers feels that grocery delivery service should use eco-friendly packing.4% of the
18
customers feels it is less important that grocery delivery service should use eco-friendly
packing. And no one feels that eco- friendly products are not important.
14.
From the above pie-chart, we can interpret that, 24% of the customers feels that swiggy
instamart is good option for all of their grocery needs, 26% of the customers feels that swiggy
instamart isbetter for specific situations, 50% of the customers feels that swiggy instamart is
for both.
15.
10
From the above pie-chart, we can interpret that, 52% of the customers are most likely to
10
recommend Instamart to others, 34% of the customers are somewhat likely to recommend
10
Instamart to others, 14% of the customers are very likely to recommend Instamart to others.
16.
From the above bar diagram we can interpret that, 26% of the customers felt that Instamart is
8
most convenient to use when compared to other grocery delivery apps, 42% % of the customers
8
felt that Instamart is very convenient to use when compared to other grocery delivery apps,
8
15% % of the customers felt that Instamart is convenient to use when compared to other grocery
delivery apps and only 2% of the customers felt that Instamart is less convenient to use when
8
compared to other grocery delivery apps and no one feels that instamart is not covinient.
17.
From the above pie-chart, we can interpret that, 76% of the customers felt that Relieved by
using Instamart for grocery shopping, only 6% of the customers felt NOT Relieved by using
Instamart for grocery shopping, and 18% ware not sure that they are relived that they don’t
have to go grocery shopping.
18.
From the above pie-chart, we can interpret that, 98% of the customers felt a sense of satisfaction
when instamart groceries arrive on time, and only 2% of the customers doesn’t feel the same.
19.
From the above pie-chart, we can interpret that, 16% of the customers are Very likely to choose
instamart over others for next order, 48% of the customers are Likely to choose instamart over
others for next order, 32% of the customers are Neutral to choose instamart over others for next
order, 4% of the customers are Unlikely to choose instamart over others for next order.
20.
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From the above pie-chart, we can interpret that, only 30 % of the customers are willing to pay
23
premium for fast delivery, Majority of customers 48% were not willing to pay premium for fast
delivery to instamart. And 22% of the customers are not sure to pay or not for the instamart
premium.
Brand Equity Enhancement Strategies:
6
Swiggy Instamart is an instant grocery delivery service powered by Swiggy, delivering
6
groceries to your doorstep in just 15-30 minutes. With over 3000 products from popular to new-
6
age brands, it caters to your mid-week grocery runs, emergency supplies, and even those
midnight cravings!
Strengthening Brand Associations:
Brand Extensions: Exploring related services or diversifying into new product categories
can broaden Swiggy Instamart’s brand reach. For instance, it could expand beyond groceries
to include household essentials, personal care items, or even specialty products.
Responsive Customer Service: Swiggy Instamart should prioritize prompt and helpful
customer support. Addressing queries, resolving issues, and handling returns efficiently
contribute to positive brand perception.
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Implementing Loyalty Programs and Engagement Initiatives:
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Loyalty Rewards: Introducing a loyalty program where customers earn points for every
purchase can foster repeat business. These points can be redeemed for discounts or exclusive
offers.
TOP SOURCES
The sources with the highest number of matches within the submission. Overlapping sources will not be
displayed.
clootrack.com
1 6%
Internet
sist.sathyabama.ac.in
3 5%
Internet
thehardcopy.co
4 4%
Internet
blog.swiggy.com
5 2%
Internet
play.google.com
6 <1%
Internet
stars.library.ucf.edu
7 <1%
Internet
Sources overview
Similarity Report ID: oid:15918:54630368
etd.lis.nsysu.edu.tw
9 <1%
Internet
repository.unipr.it
12 <1%
Internet
research.brighton.ac.uk
15 <1%
Internet
Sources overview
Similarity Report ID: oid:15918:54630368
core.ac.uk
27 <1%
Internet
www2.mdpi.com
28 <1%
Internet
universititeknologimara on 2024-02-01
32 <1%
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