Influence of Brand Name on Consumer Decision Essay

In the present developing and modern day world, consumerism has dominated all the aspects of life. The life in the society follows the pattern of the capitalist culture where the human values have a different measure, ‘you are known by what you have not by what you are’. This naturally leads to the life in a society where everyone wants to have a unique place in the society, by possessing the things which sets them apart from the rest of people in the society. In present society and living way, the Brands not only represent the symbol of the company or product but to a larger extent define the general life of a person. What the person uses can reflect his taste of life, his status in the society, his economic background and many other things. This makes a deep connection between the company and its brand, with the consumer. In this two way relation both are dependent on each other for various different reasons. In today’s time customers are very deeply connected to the brands. When they purchase any product like a car, mobile, items of daily need, brand name influence the consumer’s choice. Some customers purchase the specific branded things just due to the brand name. Customers believe that brand name is a symbol of quality. I found this interesting and wanted to find out whether brand name influences the consumer choice when they go for purchasing any product. I chose to for the specific product because  this is one of the products which got my attention because of many reasons. Initially the car production was dominated by few companies and one or two countries. With the time, the market started to grow and once considered to be luxurious commodity, cars became a need  rather than a choice. This increased the demand and with that many more  companies entered the arena to have their share of profit and exploit the growing market. This made the companies to put more efforts and money to creating brand awareness of their product. With the Huge sum of money and effort invested by the companies to create the awareness of their brand in the market, many questions arise; does this really affect the purchasing decision  of the customer? Does the brand awareness somehow influence the sale of the product? Etc. On the basis of these questions, I formulated my problem as follows: The purpose of this thesis is to create deeper consideration of what influence a brand name can have, when people go for purchasing, choose the products between different brands in automobile industry. Further I want to identify, if there is a connection between brands and the consumer decision making process. I conducted this study based on theories and surveys. I analyzed the result of the survey in order to be able to draw conclusions and find answers to my problem. I came to the conclusion that when consumer purchases a car, brand names influence his choice. Customers choose the well known branded car among other brands which are new or not so known. The study shows that branded cars have a great place in consumer mind, when customers go for purchasing a car, they prefer to purchase a well known branded car. Customers do not want to try new or unknown branded cars because they have no much information about the  lesser known brand. Usually, people purchase well known branded cars because they might have heard before about brands or they have some information about them from other sources. This makes customer feel more comfortable during the time of decision making as they are not so confident about the knowledge they have gathered about the other brands. The consumers are very conscious about branded and unbranded cars because they have the view that branded cars are more reliable than unbranded car. This study also explains that customers trust the branded cars’ quality. Before purchasing a car people do not consider the lesser known brand car, as people are very attached to some specific brands. Some people are loyal to specific brands, over time they want to purchase the same branded car because the specific brand has satisfied the customer’s needs and in turn has gained the trust in the brand name. I feel that the purpose of this study has been fulfilled to some extant. The theory describe that brand name has a power, which attracts the customers towards branded products. The reason  is that customer gets special connection with specific brands product and become the loyal with brand.

The Management of Emotions

Managing emotions adequately is vitally important in practically every area of live. Children learn this skill first from the example of their parents. These skills are transferred to society as the child grows and broadens his or her connections with the outside world. Emotional management skills become increasingly important as the human being moves through life. In the workplace, both managers and employees need to adequately manage their emotions in order to successfully accomplish their diverse tasks. In personal life, emotional management is important in the home in order to raise healthy, balanced individuals who will in their turn function well in the workplace. Emotions are an integral part of humanity. The management of emotions is therefore a task that faces every person in every stage of life daily. It is unfortunate that emotional management is not a topic consciously dealt with at either the home or learning institutions. The result of strong, badly managed emotions is often conflict, according to the Conflict Research Consortium (1998). Emotional and conflict management are closely connected. Once the conflicting parties realize this, it is easier to focus on the steps necessary towards a resolution of the conflict. There are many professionals offering advice on adequately managing emotions. The Conflict Research Consortium for example focuses its advice on the issue of emotions and conflict. Conflict is more easily resolved, according to this premise, when the emotions involved are explored and understood. Once each party understands the other's emotions, the issue of conflict becomes simpler and indeed could be eradicated entirely. This is especially so in personal relationships. Parties involved in romantic or family relationships will most often benefit from exploring the emotion involved in conflict. Emotions are also frequently both the cause and result of interpersonal relationships in the workplace. The emphasis on increasing profits and remaining at the top of the business world can cause extreme stress for managers. This stress, if not adequately managed, often find an outlet in inadequately managed emotions. Employees suffer as a result and in turn are the victim of emotional outbursts and conflicts. Hence, the initial cause of badly managed emotions is stress. In workplace relationships, emotional management should therefore be integrated with several other elements to understand the inherent cause-and-effect relationships in each individual case. Ironically, emotional outbursts resulting from profit-related stress has exactly the opposite of the desired effect. According to Gerson (2002), a manager who makes a habit of berating and shouting at employees is unlikely to see a favorable profit margin. Gerson therefore recommends that a program be implemented to handle work-related stress and its concomitant emotions. Emotions are part of human life. So is change. The extreme and rapid changes in the world today adds to stress both in business and in general life. This increases the danger of emotions that manifest in unacceptable ways. In extreme cases, the failure to recognize the need for managing emotions may lead to crimes such as rape or even murder. This makes it clear that emotional management in today's fast-changing world has become of extreme importance. Learning to adequately handle emotions should first and consciously be taught at home and afterwards in learning institutions. This would benefit not only business, but also personal relationships and general society. In terms of business, employees who feel they are valued will perform better, work harder and create the revenue sought by managers. Managers therefore need to handle their emotions adequately to achieve this, as seen above. Children who never learn to manage their emotions are more likely to engage in criminal activities. Society benefits more greatly from stable, productive individuals. In order to achieve this, emotional management is of greatest significance in early home life and education.