CONSUMERS’ PREFERENCE OF BRANDED CHOCOLATE WITH SPECIAL REFERENCE TO HYDERABAD CITY

Abstract

In marketing, brand management is a process of analysis and planning on how that brand is identified in the market. Growing a good relationship with the target market is crucial for brand management. Tangible components of brand management include the price, look, the packaging etc. The intangible elements are the observation of that the consumer has had with the brand and also the bond that they have with that brand. Beyond just a logo, superior branding increases the value of the company, provides personnel with direction and motivation, and able to acquire new customers easily. The stronger the brand, the more probably the marketer to be recommended by the customers. Anyhow the probability of customer endorsement is low when one brand is not significant enough to be remembered. Trusted and strong brands like Hershey’s, Cadburys and Nestle are comfortable to ask more for their products, knowing customers are willing to pay. It’s because customers are very desperate to eat chocolate all the time. A company’s brand is a huge deciding factor of business success. From the customers point of view brand is a reflection of one’s company and an indication of what to expect. Hence this article is purely based on brand management in food product- chocolates with special reference to Kukatpally, Hyderabad.