Consumer Brand Perferences towards Beverage Industry in Bangladesh” A study on: Acme Agrovet and Beverages Ltd.
Rahman, Md. Mahmudur
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Consumer brand preference is an indispensable step to comprehend consumer choice behavior, and has therefore always received great concentration from marketers. Brand preferences reveal the type of attributes a brand possesses, to strengthen its position and increase its market share. Moreover, it forms a critical input in developing a company’s successful brand strategy, and gives insight for product development. From a business standpoint, the challenge is that customers could change their favorite brands by trying products of other brands because they are exposed to a variety of attractive brands. That is, customers tend to seek better brands of products or services, so their brand preference can change. For businesses to reduce that risk, they must identify what affects brand preference and how consumers’ build their brand preference. Thus, understanding brand preference is important, especially in developing successful brand strategy. The main purpose of the research is to conduct a simple survey to measure the brand preferences of the ACME juice of The ACME Agrovet and Beverages Ltd as I have done my internship in this company. Our local market is well aware of the branding in consumer products, such as Shezan, Starship, Arong, Danish, Pran, ACME etc. But with this study I would be able to find out their preferences towards ACME juice by examining the extent of relationship among the factors (e.g. Price, Brand image, Availability, Appearance, Quality and Brand knowledge and experience etc.) affecting the consumers’ brand preferences and how far does their preference differs from that of the other branded goods. To achieve the aim of this study, a sequential mixed-method methodology combining both qualitative and quantitative research was adopted. The aim of the first qualitative phase is exploratory, using focus groups, to refine the proposed model and generate items for questionnaire development. The second phase, quantitative research, is the analysis of data gained from survey conducted using selfadministrated questionnaires. For selecting respondent from the market, convenience sampling is used. The multiple regression analysis is used to analyze the data. A hundred of respondents from Daffodil International University were given the questionnaire so that they can give their valuable opinion. The study surveyed how factors affecting brand preferences are correlated and after analysis it is appeared that these factors have significant influence on consumers’ brand preferences.
- Journal of law