Brand consciousness Essay

This look report is to aid Article Circle Limited of Canada in the exporting of diamonds to the Indian market.A strike out is an offering from a know source. Brand Consciousness is lots than simply a preference for scrape names. The term high life was limited to only the rich and the elite, but straightaway in India, disposable incomes and of middle row and upper middle class are increase. The consumers in India are also precise brand Conscious. The scenario beingnessness so in India, this research facilitates Arctic Circle to exploit the hazard by crafting a unique set marketing st estimategies for the Indian market. installationIndia is set for a dramatic expansion of domestic pulmonary tuberculosis that pull up stakes fasten the country one of the largest consumer markets in the world. If overall economic offshoot remains 7 to 8 per cent, as most economists expect, then consumption will increase. It is estimated that real consumption will fetch from Rs 17 gazill ion today to Rs 70 trillion by 2025.This will take India into the prime(a) league among the worlds consumer markets. The primary driver of Indias process as a consumer economy will thus be increasing incomes. Our analysis shows that average real house bandage disposable income is set to grow from Rs 113,744 in 2005 to Rs 318,896 by 2025, a compound annual growth rate of 5.3 per cent. Rising incomes will also create a sizeable and by and large urban middle class is expected to will swell to 583 one thousand thousand people or 41 per cent of the population. magic spell the growth in Indian incomes and consumption will deliver substantial societal benefits with hike up declines in poverty, the growth of a large middle class spells an opportunity for the manufacturers and the invasion of multinational brands is sure to change the dynamics of market phenomena. While the corporate spending on branding is lofty and what kind of market strategies the companies will keep up to craft fo r the Brand Conscious Indian market is the question which is left unanswered.Therefore, the present orbit is an attempt to explore The work on of Brand Consciousness on Indian consumers to buy the diamonds( luxuriousness Product) of Arctic Circle. precondition the understanding of theextant literature this essay is expected to provide directions on the phenomena for practicing coach-and-four on understanding that Indians are more Brand-Conscious. Therefore, the objective of this study is to build a marketing strategy impersonate for the Brand-Conscious Indian Consumers.LITERATURE REVIEWA survey in 2008 indicated that India is among crystalize 5 countries when it comes to Brand Consciousness. A country where savings rate is very high (nearly 36%) and where top 10% percent of people hold 53% of the wealth of this nation and lower 20% own well-nigh 1%, it is hard to believe that brand consciousness is on the rise.A brand becomes a brand after how it is perceived by people, th e check that it projects and the quality and promise to customers which it upholds. Most of the brand names out on that point today bemuse become a symbol of a typical quality which they constitute imbibed in them self, a quality which leaves a consumers mind wondering after its usage.(live mint.com, priyanka mehra)India is an emerging market, being a actuate of a developing economy. The consumers now to a certain extent drive home started differentiating between what every brand of a product has to offer, which tightens the competition because its not only about that little puma on your enc portion outhe or the bitten apple on your phone. Until now the premium brands were catering to the high end consumers and they have carved out their niche in this division of market, but now they are getting aware of the needs of the other segments of the society specifically the middle class.Being the real savers they are being targeted by the premium brands. These brands are now comi ng out with the products holding in mind this segment of market. Indian middle class believes set their money where they can get equivalent and possibly more note value and if the premium brand can facilitate this then the local producers have a competition. So brand consciousness is on rise in Indian market and the premium brand can capitalize on it.(live mint.com, priyanka mehra)Luxury brands are now for the ones that can afford them and India has a lot of potential given the high disposable income of the festering middle class. By knowing how purchasers consider, are affected, pick and utilize theiritems, highlife brands can make products that join straight with purchasers seeks and will, also, be skilled to have a much clearer meaning of what their promoting destinations ought to be keeping in mind the end intent to achieve the potential purchaser.By Understanding shoppers choice making process, organizations can distinguish chances and dangers that may emerge in the comm ercial center. ( Rohit Arora, strategic Planning Director, Bates Pan Gulf (BPG Group), Dubai, UAE) Companies will have to come up with a set of unique techniques which must be a ripple of sponsorships, mold shows, superstar support, publicizing and PR. (Ana Margarida Forja de Macedo de Carvalho).There are eight mainstays of Luxury Brand merchandising, for example Performance, Pedigree, Paucity, Persona, Public figures, Placement, Public relations and Pricing. The 8 Ps of luxury showcasing can give a comprehensive complex body part to extravagance advertisers.( Rohit Arora, Strategic Planning Director, Bates Pan Gulf (BPG Group), Dubai, UAE).Luxury marketers and retailers have proven their resilience in a tough economy by sticking to their USPs impeccable craftsmanship, artisanal, bespoke, exclusivity and razor-sharp service. (4 Luxury market Ideas for 2013 Karen Weiner Escalera, electric chair & political boss strategist at KWE Partners, details four ways in which luxury brand marketers can reinvent their marketing strategies for 2013). 2013 will be the course of study where luxury brands must raise the bar by reinventing and reinvigorating their marketing strategies and saying for new ways to brand and create new profit centres. sensation of the innovative marketing strategies is Themed experiences which direction Retail environments are becoming themed brand stores that serve as temples of socialisation places where people dont however pass through, but immerse in a world where theyll stay, explore, have fun, meet others with the same passion, even learn and do it with style. Secondly, Accessible Customisation which means Traditionally, real luxury delivered individualised products based on a buyers personal preferences, tastes and budget.Last but not the least, Online Stores through which the luxury brands by Creating brand merchandise can strengthen customer committedness and enlist fans to spread your name on the streets. (4 Luxury Marketing Ide as for 2013 Karen Weiner Escalera, president & chief strategist at KWE Partners, details four ways in which luxury brand marketers can reinventtheir marketing strategies for 2013).OBJECTIVE OF THE discoverThe Objective of this study is to build a marketing strategy manikin for the Brand-Conscious Indian Consumers.LIMITATIONS OF STUDYThe study is completely based on lowly research which was undertaken 2 years ago, when the economic conditions of India was far superior than what it is today. So doing a primary research in todays economic conditions in India would help in coming into proper conclusions.CONCLUSIONThis study aimed at devising Marketing Strategies for the Artic Circle, a Canadian based Diamond company to understand the psychology of the Indian Consumers and buying behaviours of the average growing middle class Indian Consumers with increasing disposable incomes. Various articles and research papers suggest that Indians rank trine in the world in terms of Brand-Conscio usness. So there is an opportunity which can be untapped by Artic Circle Diamond Company.Uncovering of the implicit in(p) dimensions of consumer aspirations as it relates to Brand-Consciousness provides managers with the underlying dimensions of fundamental needs of the consumers and therefore provide directions as to make decisions in their offerings in terms of product/services, communication, designing accessibility and pricing the same. The study also provides directions on the decisions on these, given the temporal considerations under which the manager is making the decisions.BIBLIOGRAPHYArora, R. (n.d.). Eight Ps of Luxury Brand Marketing. Dubai. Ashish Mansharamani, F. D. Marketing of Luxury Goods.Carr, T. (2013). The luxury market outlook 2013. Luxury Daily . Carvalho, A. M. (2012). Consumer air in the luxury industry Getting a grasp on consumers,Intrinsic and Extrinsic Motivations. Chaturvedi, D. (2010). India is next luxury goods hub. ET Bureau. Contributor, G. (2010, 1 ). Thebusiness of fashion. Mumbai.Escalera, K. W. (2013). Four Luxury Marketing ideas for 2013. Mumbai, Maharashtra, India. Krawitz, A. (2012, 09 06). Advertising diamonds.Mehra, P. ( 2008. , 3 27). India ranks 3rd in brand consciousness. Mumbai, India. Nielsen. Indians among top three Brand Conscious.Steve Hodgson, M. D. (2007, april). Confidence in Diamonds Mine to market conference.