An Empirical Study of Brand Image, Usage and Familiarity among Indian Users: A Factor Analytic Approach

Abstract

This paper is to analyze and compare the branding strategies followed by various manufacturers. The core objectives of the study are to find out the factors that makes brand name familiar and also to examine the relationship between brand image and brand usage. Based on the literature review, various statements have been designed to reach the set objectives. Database of 250 respondents have been selected on the basis of judgmental cum random sampling technique. Factor Analysis has been used for the data reduction and factors have been described in detail. This study depicted the impact of the different variables on consumers perception towards brands. The factors with more value of variance had a high impact and vice versa. Further this study showed the same matching results as of Leo Bogart and Charles Lehman (1973)- a positive correlation between a good class product and its purchase frequency. The paper offers insights for designing branding strategies when branding a product/service. This study adds value to the growing body of literature on branding strategies by identifying a more comprehensive and simplistic list of branding strategies.

Keywords: Brand, Family Brand, Factor Analysis, Branding Strategies

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