Vol-9 Issue-3 2023 IJARIIE-ISSN(O)-2395-4396

A STUDY ON THE EFFECT OF BRANDING

ON PRODUCT MARKETING IN HOME FIRST
FINANCE COMPANY, NAMAKKAL.
Kavin R1, Rajesh Kumar K2,
Department of Management studies 1,M. Kumarasamy college of Engineering1, Karur ,Tamilnadu
Department of Management studies 2,M. Kumarasamy college of Engineering 2, Karur ,Tamilnadu
Correspondence email: [email protected] ,

ABSTRACT

Branding plays a critical role in product marketing as it can significantly impact consumer perceptions,
attitudes, and behaviors towards a product. A strong brand can help establish a product's identity,
differentiate it from competitors, and create emotional connections with consumers. A well-developed brand
can increase consumer loyalty, enhance trust and credibility, and ultimately drive sales. Consumers are often
willing to pay a premium for products associated with a strong brand, as they believe that the brand
represents high quality, reliability, and consistency.

Keywords: Brand loyalty, Customer satisfaction, Consistency, Credibility, Trust

I. INTRODUCTION

Branding plays a significant role in the success of a product's marketing. It involves creating a unique and
recognizable identity for a product or service that sets it apart from its competitors. A brand is not just a logo
or a name; it is the entire experience that customers associate with a particular product or service. A strong
brand can help a product stand out in a crowded market, build customer loyalty, and increase sales. When
introducing a new product, branding can help create buzz and generate interest. A strong brand can create a
sense of excitement and anticipation, making people eager to try the new product. A well-known brand can
also attract new customers who are already familiar with the company's other products and trust its
reputation. Branding can also help establish a product's value proposition. By creating a unique brand identity
that communicates the product's features and benefits, customers can quickly understand what sets the
product apart from its competitors. This can make it easier for customers to make purchasing decisions, as
they can quickly identify the product that best meets their needs. Effective branding can also enhance brand
loyalty, increase brand recognition, and generate positive word-of-mouth marketing. On the other hand, poor
branding can hinder product marketing efforts and lead to lower sales and market share. Thus, understanding
the effect of branding on product marketing is essential for businesses looking to succeed in today's
competitive marketplace.

OBJECTIVES OF THE STUDY

Primary Objectives

 To establish a unique and recognizable identity for a product or company.

 To create a strong and positive perception among consumers, differentiate the product from
competitors, and build customer loyalty.
Secondary Objectives

 Branding helps increase the visibility and recognition of a product or company among the target
audience, leading to higher levels of awareness and familiarity.

20287 ijariie.com 1506

Vol-9 Issue-3 2023 IJARIIE-ISSN(O)-2395-4396

 Through branding, companies can cultivate a positive brand image, reputation and emotional
connection with consumers.

SCOPE OF THE STUDY

 To study will depend on the specific research question, objectives, and hypothesis being
investigated.
 To study would examine how branding influences consumer attitudes, preferences, and buying
behaviour.
 To study would investigate how branding can create a competitive advantage for a product or
company.
 To study would focus on how branding fits into an overall marketing strategy.

NEED FOR THE STUDY

In the current trend, customer satisfaction plays a major role in all parts of the marketing. This research work
is used to predict the over-all customer satisfaction and dissatisfaction with financial services with help of
loan services, deposits, insurance services and value added services and how gender and income influence
the kind of loans offered by Home First Finance Company. An assessment was made to understand the
relationship between income and changes recommended to commonly accepted services. This study helps to
identify the customers' preferences and product marketing.

LIMITATION

 The perceptions and expectations of customers are limited to the time period of the study.
 The perceptions of the firm are limited only to the place of study.
 The inferences apply only to the respondents of Namakkal Town and are not applicable to another
place and cannot be generalized.

II. REVIEW OF LITERATURE

Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. Free Press. This
book examines how branding can create value for companies and consumers through brand equity.
Ambler, T., & Styles, C. (1997). Brand development versus new product development: toward a process
model of extension decisions. Journal of Product Innovation Management, 14(3), 201-215. This study
examines the relationship between brand development and new product development and proposes a process
model for making extension decisions.
Atwal, G., & Williams, A. (2009). Luxury brand marketing: The experience is everything! Journal of Brand
Management, 16(5-6), 338-346. This article examines the role of the luxury brand experience in creating
value for consumers.
Balmer, J. M. T. (2013). Corporate brand management and its subsequent impact on organizational behaviour
and employer attractiveness. Journal of General Management, 39(1), 5-26. This study explores the
relationship between corporate branding and organizational behaviour and employer attractiveness.
Biel, A. L. (1992). How brand image drives brand equity. Journal of Advertising Research, 32(6), 6-12. This
article examines the role of brand image in creating brand equity.

III. RESEARCH METHODOLOGY

Research methodology is a way to analytically solve the research problem.
METHOD OF DATA COLLECTION
There are two types of data collection.

20287 ijariie.com 1507

Vol-9 Issue-3 2023 IJARIIE-ISSN(O)-2395-4396

Primary Data
Primary data refers to the pure and the fresh data which are collected for first time. The primary data are
collected from the T&I project limited.
Secondary Data
Secondary data refers to the data that are already collected by some researchers in the past and is available in
published or unpublished form. The secondary data for this study has been obtained.
SAMPLE SIZE
The sample size of the study is 120.
TOOLS FOR DATA ANALYSIS

 One way Annova

 Chi-Square

IV. DATA ANALYSIS AND INTERPRETATION

Data analysis is the process of uncovering patterns and trends in the data. Data interpretation is the
process of assigning meaning to the data. It involves explaining those discovered patterns and trends in the
data chronology. Data analysis comes first, followed by data interpretation.
CHI- SQUARE TEST
HYPOTHESIS STATEMENT
HO: There is no significant relationship between Gender and Brand image & Customer experience.
H1: There is a significant relationship between Gender and Brand image & Customer experience.

Table 4.1
Gender × The brand reflects my personality

Particulars Value df Asymptotic Sig. (2-tailed)

Pearson Chi-Square 23.27 4 .000

Likelihood Ratio 25.73 4 .000

Linear-by-Linear Association 20.31 1 .000

N of Valid Cases 116

Inference
From the above table, the calculated Pearson Chi-Square significant value is **, that significant value
is Below than the 0.05 (5% level of significant). Hence H0 is Rejected. H1 is Accepted. Therefore, it is inferred
that there is a significant relationship between Gender and the brand reflects my personality.

ONE WAY ANNOVA

HYPOTHESIS STATEMENT
HO: There is no significant difference between Gender and Brand image & Customer experience.

20287 ijariie.com 1508

Vol-9 Issue-3 2023 IJARIIE-ISSN(O)-2395-4396

H1: There is a significant difference between Gender and Brand image & Customer experience.

Table 4.2
How happy are you with our service?

Sum of Squares df Mean Square F Sig.

Between Groups 1.69 1 1.69 .97 .327

Within Groups 199.00 114 1.75

Total 200.69 115

Inference

From the above table, the calculated significant value is .327, that significant value is More than the
0.05(5% level of significant). Hence H0 is Accepted. H1 is Rejected. Therefore, it is inferred that there is a no
significant relationship between Gender and the service.

V. FINDINGS OF CHI SQUARE

There is a significant relationship between Gender and the brand reflects my personality.
FINDINGS OF ONEWAY ANNOVA
There is a no significant relationship between Gender and the service.

VI. SUGGESTIONS
Unlike in the past, all banking operation gradually came to be measured in terms of thus ability
to generate possibilities of social banking for their meaningful survival & growth. Therefore, there should
be a shift in the bank objective from bank growth.

 The banks should follow the modern marketing strategies for not only increasing the number
of customers but also increasing the revenue.
 Introducing innovative administration in information and technology which reduce costs,
increases volumes and facilities customized products of banks.
 The banks should not only depend on interest income but also to generate non-interestincome
 Investment made by banks should be made rationally.
 The establishment expenses, which constitute the largest item of the total
expenditure of banks, needs to be monitored regularly.
 The credit- deposit proportion should be maintained properly.

VII. CONCLUSION
The banks by earning at least a nominal profit, have to serve the economy through extension of
advances and safeguard the interest of their investors by providing the expected rate of return on their
investment in banks. These forces banks not only to increase their earnings but also to create surplus out of their

20287 ijariie.com 1509

Vol-9 Issue-3 2023 IJARIIE-ISSN(O)-2395-4396

banking activities. The financing system faces several difficult challenges. Therefore, the banks have to re-orient
their strategies in the light of their own strengths and the kind of market in which they are likely to operate.

REFERENCE
[1] M. Mouawad and B.Kleiner, “New Developments in Customer Service Training,” Managing
ServiceQuality,Vol.6,No. 2, 1996, pp. 49-56.http://dx.doi.org/10.5539/ijbm.v6n12p222
[2] A.Caruana,“ServiceLoyalty:TheEffectsofServiceQualityandtheMediatingRoleofCustomerSat
isfaction,”EuropeanJournalofMarketing,Vol.36,No.7,2002,p811-
828.http://dx.doi.org/10.1108/03090560210430818

[3] T. K. Panda, “Creating Customer Lifetime value through Effective CRM in Financial
Services Industry,” Journal of Services Research, Vol.2,No.2, 2003, pp.157-171.
[4] C. Lymperopoulos, L.E. Chaniotakis and M. Soureli,“The Importance of Service Quality in
Bank Selection for Mortgage Loans,” Managing Service
Quality,Vol.16,No.4,2006,pp365379.
http://dx.doi.org/10.1108/09604520610675702
[5] T. J. Levesque and G. H McDougall, “Determinants ofCustomer Satisfaction
inRetailBanking,”InternationalJournalofBankMarketing,Vol.14,No.7,1996,pp.12-
20.http://dx.doi.org/10.1108/02652329610151340

20287 ijariie.com 1510