The impact of brand equity on consumer’s buying behaviour: an analysis of Apple Executive summary The relation between brand and customer is known as brand equity. Brand equity has become a crucial part of every successful organization. It influences the stages related with customer’s buying behaviour. The purpose of this research paper is to gain proper understanding of my future profession and a project proposal topic related to my future profession. Previous literature shows brand equity and customer’s buying behaviour are very crucial for the marketing professionals. The scope of this project proposal is to analyse whether or not brand equity of Apple creates impact of consumer’s buying behaviour. The structure of this research paper starts with project context and project proposal including working title with background and justification. Then project aim, objective, research question followed by critical literature review is conducted on the basis of secondary source of data. At last milestone deliverable table with Gantt chart provides a conclusion that brand equity of Apple influences customer’s decision making process. Table of Contents Number Description Page Number Title page i Executive Summary ii Table of contents iii Table of Figure iv 1.0 Introduction 1 2.0 Project context 1 3.0 Project proposal 3 3.1 Working title of the project 3 3.2 Background and definition of the problem 3 3.3 Justification of the problem 4 4.0 Project Aim, objective and research questions 4 4.1 Project’s proposed aim 4 4.2 Objectives 4 4.3 Research questions 4 5.0 Critical literature review 5 5.1 Gaps in literature 6 6.0 Project plan 7 6.1 Proposed data collection method 7 6.2 Approaches to analysis data 8 6.3 Milestone and deliverable table 8 6.4 Gantt chart schedule 9 7.0 Conclusion 9 8.0 Reference List 10 Table of Figures Figure Description Page Number Figure-1 Brand equity affecting consumer buying behaviour 6 Figure-2 Apple’s worldwide revenue 2004 - 2016 7 1.0 Introduction The project context and proposal focuses on the marketing profession and issues related to it. As a Master of Marketing graduate my future profession would be related to marketing sector. Gummesson (1979) mentions that in every level of the organization marketing function are important. It pervades the organization. Marketing professionals can choose any industry and are privileged to be still in demand in the job market. There has been a considerable rise in demand for marketing professional (IDG Communications, 2017). It is one of the fastest developing occupations. Over the last five and two years it is seen that there has been an increase of 13.3% and 18.1% growth in marketing profession compared with all other profession which was about 6.9% and 3.8% (Department of Employment, 2012). 2.0 Project context Profession means a formal educational qualification with expanded training which results as a paid occupation. It is understandable that profession includes collaboration of renowned educational qualification and constant training (Buhai, 2012). Again, Gummesson (1979) says that marketing profession has special education requirements to understand the market and customer’s buying behaviour. Marketing profession has become one of the fastest growing professions in the job market. The Master of Marketing course according to the Australian Marketing Institute (AMI) is the first stage of being a qualified marketing professional. Career as a marketing professional for a multinational company in future would be a great star as a Master of Marketing Graduate. Marketing is that part of management that deals with identification, anticipation awareness and satisfaction of the consumer’s requirements (Ekpo, et al., 2015). Marketing professional plays a vital role in examining the modern business process. It is quite impossible to overstate the importance of a professional. It is their responsibility to generate higher recognition, awareness and profitability for the organizations in today’s dynamic economic environment (Webster, 1992). It is the marketing professionals aim to create a strong brand image of the products or services in accordance with the needs and wants of the customers to establish positive brand equity (Enright, 2006). Again, Enright (2006) says there are numerous theories, skills, strategies and policies that need to be cultured to become a qualified marketing professional. It requires interpersonal skills and creativity to deal with customers and market the product or service to create a strong brand image. It is important to develop a successful framework that would help in planning and setting adequate reliable unique strategies to develop brand image and understand consumer’s buying behaviour. It is important for a marketing professional to analysis every step related to consumers decision making process to create unique branding strategies. Marketing professional has to deal with the national and international responsibilities to boost sales and increase profit in the competitive environment. These activities distinguish them from others such marketing manager or executives (Enright, 2006). Further, Pefanis and Harich (2010) explain professionals must have extraordinary communication skills to coordinate marketing campaigns and develop marketing strategies according to the company’s objectives. Strong brand identity, recognition, awareness and loyalty among customers to build a strong brand image in consumer’s mind that would result into strong brand equity. They have to change with the new trend and technology to knock into the heart and mind of the target audience due to rapidly changing field. Towards an organization a marketing professional has many responsibilities. Organizations requires some aspects from a professional such as they must be well-organized, capable in satisfying customers, promote brand, build strong brand identity and create the ability of delivering value proposition to consumers. It is their responsibility to analyse the current market situation that would help to structure the future plan to frame marketing strategies. The strategies should be efficient enough to generate brand recognition among customers while making purchase decision (Pefanis and Harich, 2010). Analysing my profession it is seen that marketing professional has to maintain a renowned standard according to AMI. It consist of systematic process that would include understanding the market, structuring marketing strategies, analysing marketing programs, implementing plans and creating brand equity and most important analysing customer’s buying behaviour (Vomberg et al., 2015). The industry requires marketing professionals to ethically raise demand of the brand in the market, increasing sales revenue along with focusing towards consumer satisfaction which ultimately results in strong brand equity (Walker et al., 2009). Future profession as a marketing professional would help me to differentiate the brand, acknowledge customer’s buying behaviour and learn integrated marketing objectives. This would provide me incentive to act in a proper manner that would be quite appropriate in fulfilling the objectives of my role. 3.0 Project proposal 3.1 Working title of the project The impact of brand equity on consumer’s buying behaviour: an analysis of Apple 3.2 Background and definition of the problem Branding has become a vital part of today’s business world. Brand equity plays a significant role in consumer’s buying behaviour. Strong brand equity helps to gain competitive advantage over other competitors. The problem statement of this research proposal is: Does the brand equity of Apple create impact on consumer’s buying behaviour? The problem statement will help to understand how brand equity affects consumer’s buying behaviour. Brand equity is derived from the consumer’s awareness of the brand name of a particular product or service, rather than from the product itself. The aspect of brand is considered as more meaningful than just maintaining focus on the products. Yet, brand equity is considered as one of the most important aspect that would be explained by the emotions and relationships of the firm with the consumers (Buil et al., 2013). Consumers buying behaviour is the combination of consumer’s likings, attitude, intention and choice while purchasing a product or service (Erdem & Swait, 2016). It is important for Apple to develop strong brand image to raise brand awareness and loyalty aspects among customers which would develop brand equity. Brand equity positively affects consumers buying behaviour by recognizing the brand name during their need reorganization. As a result customers purchase decision gets influenced by Apple’s strong brand equity (Rani, 2014). 3.3 Justification of the problem Apple deals in the production of electronic devices among various other competitors globally. Apple uses emotional strategies to generate certain beneficial aspects that could be effective enough to generate customer satisfaction and brand loyalty among customers (Ezeh & Al-Azzawi, 2012). Further, Heracleous, (2013) explains Apple uses planned effective branding strategies to create strong brand image to develop brand equity in customers mind. So to satisfy their need customers feel the need of the particular brand. As a result customers of Apple are influenced by brand equity at the time of making purchase decision. Marketing professional have to create strong brand equity and be aware of customer’s decision making process to implement branding strategies to manipulate consumers buying behaviour. 4.0 Project Aim, objective and research questions 4.1 Project’s proposed aim The aim of this project proposal is to analyse the importance of brand equity and how Apple’s brand equity creates impact on the consumer’s buying behaviour. 4.2 Objectives The objectives of the project proposal are:  To understand the purpose of building brand equity.  To identify branding strategies that is followed by Apple in order to create brand equity among consumers.  To analyse how brand equity of Apple influences consumer’s buying behaviour. 4.3 Research questions The research questions for this project proposal are:  RQ-1 What is the purpose of creating brand equity?  RQ-2 What are the branding strategies followed by apple in order to create brand equity among consumers?  RQ-3 How consumer’s buying behaviour is influenced by the brand equity of Apple? 5.0 Critical literature review The purpose of this literature review is to critically analyse the scholarly literature related to the research questions. Brand equity deals with the information regarding the brand from a receiver’s perspective or how consumer would absorb the marketing message of the firm (Davcik et al., 2015). The added value endowed to the product or service is known as brand equity. Brand equity provides value to customers through increasing confidence in purchase decision. Brand equity is the commercial value that has been perceived from the consumers through their perception towards the product (Buil et al., 2013). According to marketing literature brand equity is the relationship between brand and customer. Brand equity starts to response during the formation of a brand. The response of the consumer could be analysed with their willingness to pay for the product. If there has been a raise in their willingness to pay for the product, hence, it helps in initiating consumer behaviour towards the product (Wood, 2000). The process aids in understanding the formation of brand equity and its complexity. Farhana, (2012) explains the mindset of consumers is one of the most complex parts of brand equity that consists of brand awareness and brand image. Brand awareness deals with the memory of consumer in being able to recognize the product whereas, brand image deals with the perception of the brand based on associations. Consumer’s preferences, attitudes, behaviour and intentions make up consumer’s buying behaviour while purchasing a product or service. Understanding consumers buying behaviour has always been in attention of marketers. Customers purchase decision consists of 5 stages: need recognition, information search, evaluate options, purchase and post purchase behaviour. Marketers can influence customer’s purchase decision stages and can diminish some stages while making a purchase decision. Brand equity influence customers buying behaviour due to being satisfied and loyal to the particular brand they make purchase decision after need recognition (Babu et al., 2010). The following model describes the elements of brand equity such as brand awareness, brand loyalty, perceived quality and brand association influencing the steps of consumer buying behaviour process (Akkucuk & Esmaeili, 2016). Figure-1: Brand equity affecting consumer buying behaviour. Source: (Akkucuk & Esmaeili, 2016). 5.1 Gaps in the literature This research only focuses on how brand equity creates impact on consumer’s buying behaviour and how their purchase decision is influenced by Apple’s brand image. There are also many other indicators such as brand loyalty, price and quality of the product which highly interfere with customer’s buying behaviour (Farhana, 2012). 6.0 Project plan 6.1 Proposed data collection method The aim of this research is to analyse the impact of Apple’s brand equity on consumers buying behaviour. Secondary source of information will be used for this research proposal that is publicly available for use. To be more precise, Apple Inc. website, annual report, Australian Bureau of Statistics (ABS) report and published journal articles will be reviewed for identifying Apple’s marketing strategies to create brand equity. Previous research papers on brand equity and consumer’s buying behaviour will help to categorize factors influencing buying behaviour. Annual report of Apple will assist to identify its growth in revenue due to strong brand equity. Figure-2: Apple’s worldwide revenue 2004 – 2016. 6.2 Approaches to analysis data The appropriate research methodology for this research would be a mixed-method methodology. Majority of secondary qualitative data and to support quantitative data will be used for this research. Qualitative research is the only way to focus on consumer buying behaviour getting influenced by brand equity (Madhavaram et al., 2005). To support quantitative research will focus on annual report for Apple’s revenue growth. Welsh (2002) explain, for qualitative data analysis NVivo software is effective. 6.3 Milestone and deliverables table The milestone and deliverables for the project proposal is shown in the following table: 6.4 Gantt chart schedule 7.0 Conclusion In conclusion it can be said that this research paper consists of two parts project context and project proposal. The project context provides a critical understanding of my future profession as a marketing professional. The topic for project proposal is the impact of brand equity on consumer’s buying behaviour: an analysis of Apple. This research will be completed by using secondary source of data for critically analysing literature review with major milestones and Gantt chart schedule to determine how brand equity of Apple creates impact on consumer’s buying behaviour. 8.0 References lists Akkucuk, U., & Esmaeili, J. (2016). The Impact of Brands on Consumer Buying Behavior: An Empirical Study On Smartphone Buyers. 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