CONSUMER PERCEPTION OF GLOBAL AND LOCAL BRANDS : COSMETIC INDUSTRY

Abstract

Whenever we say a brand, we think about establishing a name, some symbol or any unique design that can help identify and differentiates the product offering of that brand from other products in the market such that it is effortlessly identified by the individuals. The aspiration of any brand is to set the product or service offered by it to be different from others of its category, and eventually succeed in influencing the consumers to hand-pick the product over similar products solely because of its associations. Brands available in market can be of local or global origin. Every consumer adjudges his/her perception on brands based on the deets they receive from many sources. Consumer perceptions, for marketeers of these brands, is means of knowing people’s psychology that comprises of general awareness and consciousness with reference to a company and the products proffered by the company as well. As it is gleaned from their own perceptions or perceptions of those close to them that consumer make purchase decision. Not only this, it is these perceptions that plays a consequential role in consumer’s usage regarding Global or local branded products which at the denouement has an impact on the business decisions of the brands. Global brands with their branding and marketing efforts routinely focussed on sales in developed nations since those with high per capita income has encompassed for the lion’s share of consumer demand. However, with the rising economies resulting in double-digited growth of developing nations such as India and China, the gallantry of most global brand managers is being allured towards them. Such is also the case with Indian cosmetic market which is valued at USD 11.67 billion and is projected to be one of the fastest growing across the world. In such business opportunity it is natural for global together with local brands to be vying to influence customer purchase decision. v The cardinal purpose of this research paper is to identify the influence of various factors that may affect consumer perception of global as well as local brands in Indian cosmetic industry. The paper also attempts to determine the awareness level of consumers on various brands & allegiance status of consumers. To fashion the conclusions from the study exploratory & descriptive research designs are used. Primary data is collected with the help of questionnaire method & then data is analysed with the help of variegated statistical techniques. Conclusions of this paper help in clarifying the changing consumer perceptions in cosmetic industry.