SUMMER INTERNSHIP PROGRAM

PROJECT REPORT ON

TITLE:- STUDY OF THE RELATIONSHIP

BETWEEN BRANDAWARENESS,
BRAND ASSOCIATION,
PERCEIVED QUALITY, AND
BRAND LOYALTY IN EMPRESS CITY

PROJECT GUIDE:
Mr. Parag Pawar
(Sales Manager)

Submited To:
Prof.Geeta Naidue

Submitted By:
Miss.Swati Jaiswal
S.B.Jain Institute Of Technology , Management And Research
Batch-2009-2010

CONTENTS
 1. Acknowledgement ………………………………………… (3)
2. Declaration ………………………………………………….. (4)
3. Executive Summary ……………………………………….. (5)
4. Introduction ………………………………………………….
A.1- About Real Estate Industry In India ………………. (9)
A.2- About KSL and Industries ………………….. (15)
A.3- About Empress City …………………………. (25)
5. Board of Directors …………………………………. (27)
6. Main Competitors ………………………………….. (28)
7. Research Methodology …………………………… (44)
8. Analysis ……………………………………………… (46)
9. Conclusion …………………………………………. (48)
10.Limitation and Recomdation …………………….. (49)
11. Bibliography ……………………………………….. (50)

ACKNOWLEDGEMENT

There are many people who have been of enormously help in the preparation
of our Project on Marketing, we are specially thankful to Mr.Junid Sheikh

2|Page
Assistant Vice President of Empress City, who have given us this
opportunity to undertake our project.

We are thankful to Mr.Parag Pawar, Sales Manager of Empress City and

his team members for giving their remarkable contribution and special
thanks to our faculty in charge, Prof. Geeta Naidu Mam who has permited
us and encourage us to work and gain practical knowledge in Empress City.
We are specially thankful to Mr. Parag Pawar who not only explained the
topics very well but also thrown a good insight at the practical aspect too.

DECLARATION

3|Page
The research work presented in this project has been carried out under the
supervision of Mr.Parag Pawar(Sales Manager) .The subject matter of the
project is my original work and no such work has been done by anyone or
published anywhere or has been submitted to any university or Institute for
the award of any Degree / Diploma.
The Project is the result of my bonafide work and the sources of literature
used and all assistance received during the course of investigation have been
duly acknowledged.
I further declare that the information presented here is
completely based on my observation and true to best of my knowledge.

Place : Nagpur Signature o f

Date: Student

( Swati Jaiswal )
SBJITMR,
Batch- 2009- 2010

EXECUTIVE SUMMARY

4|Page
This research investigated direct and indirect relationship between brand equity
constructs which includes brand awareness, brand association, perceived quality, and
brand loyalty in Empress City. The finding showed that there is a significant and positive
direct effect between brand awareness toward brand associations, and brand association
toward perceived quality and brand loyalty. We argue that brand association plays as a
suppressor in our model that leads to inverse relation between brand awareness and
perceived quality. With respects to the mediating effect of perceived quality to the
relationship between brand awareness towards brand loyalty and brand association
towards brand loyalty, our finding showed that perceived quality does not play as a
mediator role in this study. On the other hand, we find that brand association is a very
important variable which mediate the relationship between brand awareness toward brand
loyalty.

INTRODUCTION

A.1: About Real Estate Industry In India

5|Page
SIZE

Real Estate and Construction is a US$16-billion (2006) industry in India

There has been a rapid growth in the industry in the past few years

Real estate share in total FDI increased from 10% in 2004-05 to over 25% in
2006-07 (estimated at over US$5 billion)

High-demand growth has led to prices doubling over 3 years in many cities

STRUCTURE

Fragmented sector with relatively few organized players of scale

o Large corporations beginning to show active interest

o Margins are higher in India (>20%) as compared to the developed markets

(5-6%)

Active participation of institutional finance in real estate

o Real estate venture funds permitted: Prominent Indian corporates like Tata
Group, ICICI Bank, SBI and HDFC have promoted real estate venture funds

o Real estate Investment Trusts (REITs) expected to be set up shortly.

o Several Private Equity firms have specific funds for real estate
investments. Real estate fast displacing IT/ITeS as the top private equity
investment sector in India

Various foreign real estate and finance companies such as GE Commercial

Finance, Tishman Speyer, Ascendas and Farallon Capital, Goldman Sachs,
Lehman Brothers etc. have entered the Indian market

POLICY

6|Page
 100% FDI is allowed in real estate development subject to minimum scale norms
of either:

o 25 acres in case of serviced plots or integrated townships; or

o 50,000 sq. mtrs. of built-up area for construction development projects

Initial investment is locked-in for a 3 year period

Top Players in the Real Estate & Construction industry

Company Sales
Turnover
(2007, US$
million)
Unitech 784
DLF Ltd. 590
HDIL 286
Ansal
190
Properties

OPPORTUNITY

7|Page
Commercial and office complexes mushrooming in major Over 25 million new housing units required in 7 years
Indian metros
 

OUTLOOK

o The real estate market is projected to grow to US$60 billion by 2010 at a CAGR
of 40%

o Real estate companies have been successfully tapping the country’s booming
capital markets for funds

o Companies have also raised equity internationally at the AIM in London

o Tier 2 cities (non-metros) likely to experience faster growth in the future

POTENTIAL

8|Page
 o Several factors are expected to contribute to the rapid growth in real estate

o Large demand-supply gap in affordable housing, with demand being

fuelled by tax incentives and a growing middle class with higher savings

o Increasing demand for commercial and office space especially from the
rapidly growing Retail, IT/ITeS and Hospitality sectors

o The recently announced JNNURM expected to provide further impetus

o Investment opportunities exist in almost every segment of the business

o Housing: about 25 million new units expected to be built in 7 years

o Office space for IT/ITES: 150 million sq. ft. across urban India by 2010

o Commercial space for organised retailing: 220 million sq. ft. by 2010

o Hotels and Hospitality: Over 100,000 new rooms in the next 5 years

o Investment opportunity of over US$75 billion in the next 5 years

o Major foreign institutional investors including Morgan Stanley, Goldman Sachs,

Merrill Lynch, AIG, Blackstone and Calpers have invested or are in the process
of investing in Indian real estate

A.2: About KSL and Industries

9|Page
The Company has recently converted the tradable warrants, issued with Equity Shares in
February 1995, into equity shares as envisaged inthe Prospectus. The proceeds of the
issue will be deployed for financingthe expansion plans and in other profitable ventures.

2002 - The company name has been changed from Krishna Texport Industries
Ltd. to KSL & Industries Ltd.

2005-Delist securities from Vadodara Stock Exchange Ltd (VSE) w.e.f

March, 2005.

2007 - The company name changed from KSL & Industries Ltd. to KSL Realtyand
Infrastructure Ltd.

2008 - Once again the company name changed from KSL Realty and
Infrastructure Ltd. to KSL and Industries Ltd.

2010- KSL & Industries Ltd has appointed Shri Utpal Mukhopadhyay as an
Additional Director of the Company.

10 | P a g e
Milestone:-

1975- Krishna Mills is established as a partnership firm

1983- Krishna Mills is converted into a Private Limited Company.

1992- Krishna Mills is converted into a Public Limited Company.

1995- The Company goes public with an IPO and is listed on the Bombay Stock
Exchange

2003- Adopted the inorganic route of expansion by acquiring fixed assets of Surat Co-
operative Mills.

2003- Adopted the inorganic route of expansion by acquiring assets of Kalameshwar

Textile Mills, Nagpur.

2004- Diversified into the real estate business by acquiring assets of the historic Empress
Mills (the first venture by Sir Jamshedji Tata in India).

2005- Underwent expansion and modernisation of its existing textile mills.

Undertook a massive expansion program post quota regime.

2005- Forayed into real estate development through Reward Real Estate Company Ltd.
(100% subsidiary).

2006- Acquired property of Deccan Co-operative Mills in Kolhapur.

2007- Development of real estate properties in process.

11 | P a g e
BENCHMARKING (INTRODUCTION)

The flagship Company of Saurabh Tayal Enterprise, KSL and Industries Limited
(formerly known as KSL Realty and Infrastructure Limited) is an industrial conglomerate
engaged in two of India’s fastest growing businesses - Textiles & Real Estate.

From an integrated textiles company – spanning the entire range of textile spinning,
knitting, processing and garment manufacturing activities, coupled with exports of
specialty knitted fabrics – KSL and Industries Limited has expanded into a diversified
operation, encompassing the fast-growing realty space development segments. Our 100%
realty subsidiary - Reward Real Estate Company Limited – is today engaged in
developing 15 realty projects, including integrated townships, hotels, IT parks &
commercial complexes, and malls & multiplexes across key cities in Maharashtra, Punjab
and the Union Territory of Dadra & Nagar Haveli.

The real estate story in India is growing bigger by the day. Industry experts believe that
Indian real estate has huge demand potential in almost every sector especially
commercial, residential and retail.

After establishing a firm foothold in the textile business KSL forayed into the realty
business through a 100% subsidiary Reward Real Estate Co. Limited. The rationale
behind the foray is to maximize shareholder value. This decision was a result of the
Company’s three-decade exposure to India’s textile industry, offering a rare insight into
mills with distressed financials but large real estate assets. The Company leveraged this
insight to invest in such distressed properties with the objective to transform them into
valuable assets.

12 | P a g e
Today, real estate action is no longer limited to the large metropolises of India but has
now permeated to the burgeoning smaller towns and cities which have emerged as hot
destinations for real estate development.

We acquired a mix of premium and upcoming locations across Mumbai, Punjab, Tier-II
and III urban centers of Nagpur, Kolhapur, Amritsar, Kalameshwar and Silvassa. This is
a suitable mix; while up market locations will provide us with lucrative margins in tested
markets, the Tier-II cities will enable us to earn realizations higher than the prevailing
average in relatively emerging locations

With developments plans in place for 15 projects which are a mix of residential,
commercial, retail, IT park, hospitality and warehousing we are geared to create world-
class properties.

13 | P a g e
KSL & Reward Real Estate unveils Empress
City

KSL and Industries Ltd (BSE code 530149), the flagship company of Saurabh Tayal
Enterprises has ventured into realty business and will develop an ambitious integrated
township project christened, "Empress City" which is spread over 25 acres in the heart of
Orange City, Nagpur The "Empress City" project will be implemented by Reward Real
Estate Company Private Ltd. a Wholly owned Subsidiary of KSL and Industries Ltd.
 
To give the city of Nagpur, its first truly international Standard township, Reward Real
Estate has joined hands with Reputed Architect, Hafeez Contractor, Shapoorji and
Pallonji, the renowned Construction group, Site Concepts, Well Known Singapore based
Company for landscaping and Trammel Crow Meghraj for property management
Consultancy globally known.
 
Said Mr. Saurabh Kumar Tayal, chairman - KSL & Industries Ltd., "With a population of
over 40 Lakhs, Nagpur is the ninth largest city in the country. It makes strategic business
source for us to initiate one of our first projects in realty here."
 
Ms. Meghana Goenka - Senior Executive -Trammel Crow Meghraj (Marketing Agent),
added "Realty boom has moved into Tier II and Tier III cities like Nagpur in a big way.
We value our association with the "Empress City" projects, which has a history, attached
with it. It will redefine Commercial and residential landscape of Nagpur.
 
Mr. Vinayak Puranik, Senior General Manager - Shapoorji Pallonji, further added "This
is our first major partnership with the Tayal Group and there will be many more to come.
The "Empress City" project is of a lot of commercial and emotional value for us. It will
be our endeavor to built the township confirming to global Standards".
 

14 | P a g e
Mr. Prasad, Senior Associate, Hafeez Contractor, " The project is of significance to us.
With its distinctive design, Empress City will prove to be a landmark for the city of
Nagpur."
 
KSL and Industries acquired the erstwhile Tata textile unit, Empress Mills that is now
developed as an integrated township project. Bookings for the residential portions have
already commenced. The project would be completed by December 2007.
 
The facility comprises of state of the art Information Technology Park, a 400 room five
star hotel, largest and state of the art shopping mall, multiplexes and 600 luxury
residential apartments. In addition there will be facilities like a club house, swimming
pools, health club, jogging park, playgrounds, indoor games complex, community halls,
temple, maintenance free buildings, emergency post, tele-communication, video phones,
high security and much more.
 

15 | P a g e
A.3:About Empress City

Nagpur! The Best Opportunity to grow your investment in Real Estate industry.

Empress City – Nagpur

 Contemporary external façade design in a combination of glass and aluminium
composite panels
 Typical floor plate of approx. 150,000 sq. Ft.
 High speed passenger elevators and service elevators
 Flat slab design leading to greater visibility and openness
 Infrastructure provision for utilities, service enabling systematic approach to
interiors and service areas
 Provision of DG Sets
 State-of-the-art fire detection and fire fighting systems
 CCTV and advanced security measures
 Well-designed , spacious internal and lift lobbies
 Clear height of 4.5 M (slab to slab)
 Minimum 5 M passage size in width ranging upto 9 M on food court.

General Highlights

 Planned development, contemporary design, consisting of six zones viz, Shopping

Mall, 5-Star Hotel, IT Park, Luxury apartments, Commercial centre and Natural
zone
 Magnificently landscaped gardens with water features
 Ample car parking space
 Professionally managed by KSL Uninterrupted and stable power supply
 Round-the-clock physical security
 Electronic surveillance systems at strategic locations
 Three sided open plot; ideally located with no construction zone on three sides

16 | P a g e
 The whole project of Empress City is divided into 5 stages as under:
1. Corporate Tower
2. Empress shopping mall
3. Residential Tower
4. Hotel Taj
5. Empress Trinity

17 | P a g e
EMPRESS CORPORATE TOWER

KSL and Industries Ltd., a flagship company of Krishna Group, one of the fastest
growing conglomerates in the country presents an exclusive Corporate Park with plush
offices for corporate and entrepreneurs , aptly christened- “EMPRESS CORPORATE
TOWER”.
EMPRESS CORPORATE TOWER is in located in the heart of Nagpur, the largest city
in Central India and the second capital of Maharashtra. Nagpur is known as “Orange
City” of India and now with EMPRESS CORPORATE TOWER, it will also be known as
the largest business city in India.
Nagpur is an ideal location for Large corporate, Multi-nationals, Banks, Insurance Cos,
FMCG & White goods manufacturers to setup their Central India office which also has
easy access to other nearby cities like Hyderabad, Indore, Raipur, Bhopal, Jabalpur etc.
The advantage of good infrastructure, connectivity by road, rail and air, good schools and
hospitals and the availability of educated manpower due the very high number of

18 | P a g e
professional institutions based in the city make it an ideal match for progressive
organizations.
The entire township is called EMPRESS CITY which also includes residential flats, 2
lakh sq ft of garden and club house, mall & multiplex (Mc Donald’s, Lifestyle, Reliance,
Cinepolis, Globus, pantaloon and big bazaar are some of the prominent tenants) , the first
real 5 star hotel of Nagpur by the Taj group is also part of the same project.
EMPRESS CORPORATE TOWER Advantages:-
 Just 5 minutes from Nagpur railway station
 It is the centre of Nagpur, and from any corner of corporation limit, travel time is
not more than 10 minutes
 Connects to 5 national highways and 3 state highways
 15 minutes from Nagpur International Airport
 Ample parking of over 400 vehicles, something which is the biggest problem in
Nagpur
 High Speed lifts and service lifts for higher efficiency
 Exclusive Food court and toilet blocks to get better efficiency in your workplace
 100% power back up available, so there is no loss of work time
 Offices available from 2000 sq ft to 70000 sq ft area

EMPRESS CORPORATE TOWER Infrastructure :-

 Ground + 9 storied with ultra-modern building with floor plates of 70000 sq ft
 Clear height of 17.06 sq.ft. from ground to 2nd floor & 13.78 sq.ft for 3rd to 9th
floor (slab to slab)
 Contemporary external façade design in combination of glass and aluminum
composite panels along with Designer entrance lobbies and lift lobbies
 Spacious parking (basement & ground level)
 Impressive landscaping and greenery
 Earthquake – resistant design
 High security gadgets like CCTV, Fire alarm and Fire fighting system available

19 | P a g e
  Perimeter protection
 Recreation facilities and Leisure programmers’ for staff
 Adjacent to shopping mall, multiplex and hotel

The project has been conceived and Designed by master architect Hafeez
Contractor and Constructed by Shapoorji Palonjji & Co.Ltd. All the equipment has
been sourced from market leader to provide a world class facility which will remain
young even in years to come.

20 | P a g e
Empress Mall – Nagpur

The whole construction of Empress Mall has been done in 10 lacs. Sq.ft
 Basement +Ground +4 storied with ultra-modern building with floor plates of
1080000sq ft.
 Ground Floor –Jewelers , watches &Main Anchor.
 1st Floor - Men’sapperials
 2nd Floor –Ladies apparels
 3rd Floor – Refreshment zoon , Cenipolies (Maxicum company)
 4th – Banquet hall, Bud jet hotel
 Spacious parking (basement & ground level)
 High security gadgets like CCTV, Fire alarm and Fire fighting system available
 Perimeter protection

Prominent Alliances

For Shopping Mall / Multiplex already signed up:

 Pantaloons Retail Zodiac
 Big Bazaar Levi’s Strauss
 Adlabs Film Ltd Benet ton
 McDonald's Fab India
 Lifestyle Spykar Jeans
 Madura John Players
 Galaxy Entertainment Bossini
 Wills Lifestyle Kappa

21 | P a g e
Residential Tower

The whole construction of Empress Mall has been done in 7 lac. Sq.ft
Residential area is divided into 2 parts
 Royale
 Dreamz

Royale –The flats in royale have 2 side:-

 Front sides facing the Land scape view.

 Rare side facing the Raman science view.

 2 BHK- 1600 sqft.

 3 BHK – 1975 sqft.
 4 BHK – 2435 sqft.

22 | P a g e
Dreamz – The flats in dreamz have 2 side:-

 Front sides facing the Land scape view.

 Rare side facing the Raman science view.

 2 BHK- 1020 sqft.

 3 BHK – 1320 sqft.

Amenities’:-
 Power Back – up
 Covered parking
 Dedicated guest Parking
 Club House
 3 Swimming Pools
 Temple
 Aromatic garden
 Tennis Court
 Amp Theater

23 | P a g e
Hotel Taj

The construction area of Hotel Taj is 6 lac.sqft.

20 stories building
300 rooms

24 | P a g e
Empress Trinity
Basement + Ground +12 floors
Basement – parking
G + 12 – Retail shop , Convenient shop
3 rd floor- weeding suit/ refreshment zoon
4 to 12 – service apartment

On chargeable rates:-
On Out rate-
Ground floor- Rs.12500 per sq ft.
1st floor – Rs.10500 per sq ft.
2nd floor – Rs.8500 per sq ft.
4 to 9th floor- Rs. 6500 per sq ft.

On lease-
Ground floor- Rs. 125 per sq ft
1st floor – Rs. 105 per sq ft
2nd floor – Rs.85 per sq ft.
4 to 9th – Rs.65 per sq ft.

25 | P a g e
BORED OF DIRECTORS

MANAGEMENT TEAM:-

Saurabh Tayal – Chairman

Mr.Saurabh Kumar Tayal, is the Chairman of the Company. With a Bachelor’s degreein
Commerce and a Master of business Administration, he has five year of administrative
and technical experience in setting up and running textile units, taking over and reviving
sick units through inorganic growth. He also expertise in procurement and development
of real estate projects.

Gopal Aggarwal – Managing Director

Mr. Gopal Aggarwal, aged 35, is the Company's Managing Director. With a Bachelor's
degree in commerce he has seven years of experience in the textile industry with
expertise in manufacturing operations. Mr. Aggarwal manages all operations within the
Company, including Human Resource Development and ensuring quality control
measures at every stage of production.

Samir Antani – Director

Mr. Samir Antani, aged 30, is an independent director. With a Bachelor's degree in
Electrical Engineering he has over five years of experience in forming new textile units.

Romil Aggarwal – Director

Mr. Romil Aggarwal, aged 33, is an independent director. With a Bachelor's degree in
Mechanical Engineering he has over seven years of experience in handling textile
projects and in administration.

S N Dubey – Director

26 | P a g e
Mr. S.N. Dubey, aged 36, is an independent director. With a Bachelor’s degree in arts he
has over seven years of experience, specializing in the erection and servicing of the
specialized yarn process. He also has the expertise of setting up an entire textile plant &
machinery system, right from spinning to garmenting.

Harinder Kumar – Director

Mr. Harinder Kumar, aged 34, is an independent director. With a Bachelor's degree in
commerce he has over five years of experience in excise and income tax accounting. He
brings to the Company in-depth knowledge pertaining to various government policies and
taxation matters.

Mahendra Patel – Director

Mr. Mahendra Patel, aged 52, is an independent director. With a degree in textile
technology he has over 25 years of experience in double yarn spinning processes. He also
contributes on issues pertaining to modernisation of the plant & machinery of the
Company.

Rajshekhar S. Ganiger – Director

Mr. Rajshekar Ganiger, aged 40, is an independent director. With a Bachelor’s degree in
science as well as a diploma in textile technology he has over 10 years of experience in
the textile industry.

27 | P a g e
MAIN COMPETITORS

Empress City is situated in the heart of orange city. It is the only project which is just 5
minutes from Nagpur railway station. It is the centre of Nagpur, and from any corner of
corporation limit, travel time is not more than 10 minutes. Connects to 5 national
highways and 3 state highways15 minutes from Nagpur International Airport.
Because of these advantages it is the unique project in the Nagpur City.
The main competitors of Empress City are:
 Poonam Chambers
 Eternity Mall
 Emperial Mall
 Land Mark
 Sahara City

28 | P a g e
RESEARCH METHODOLOGY

PRIMARY DATA SOURCES

 Observation method, and

SECONDARY SOURCE

 Internet
 Newspaper
 Others

OBJECTIVES

 To study the level of customer satisfaction.

 To study the different factors of satisfaction & dissatisfaction of the recent mall in
the city.
 To study the service provided by the Empress Mall to the customer.
 To study the loyalty of the customers towards the Empress Mall.
 To study the relationship between brand awareness, brand association, perceived
quality, and brand loyalty.

29 | P a g e
RELATIONSHIP BETWEEN BRANDAWARENESS, BRAND
ASSOCIATION, PERCEIVED QUALITY, AND BRAND LOYALTY IN
EMPRESS CITY.

INTRODUCTION

The issue of brand equity emerge as one of the most crucial topics for marketing
management in 1990s and its concept and measurement has interested academicians and
practitioners for more than one decade. There have been three different perspectives for
considering brand equity; The customer- based perspectives, the financial perspectives
and combined perspectives. While this study focus on customer based brand equity.
In recent years, customer-based brand equity has garnered considerable
attention. Operationalization of customer based-brand equity usually fall into two groups:
consumer perception and consumer behaviour, e.g. Mahajan, Rao, and Srivastava (1991)
claimed that a customer-based brand equity could be measured by the level of consumer
perception. While Farquhar (1990) claimed that brand equity is reflected by the change
of consumer attitude while purchasing a product. Later researchers, beside using two
approach: consumer perception and consumer behaviour, some combined the two
approach and some were related brand equity to other variable as antecedents and
consequences of brand equity, e.g. Keller (1993, 2001) mentioned about brand
knowledge as combination between brand awareness and brand image, Lassar et al.
(1995) evaluate only perceptual dimensions, Blackston (1995) study about the concept of
brand meaning which include objective brand (personality characteristic, brand image)
and subjective brand (brand attitude), Dyson et al (1996) using brand loyalty and brand
attitude, Motameni and Shakroki (1998) proposed concept of global brand equity using
brand strength and Prasad and Dev (2000) using brand performance and brand awareness
to develop brand equity index. While Aaker’s (1991, 1996) incorporated the
measurement, suggested measure four dimensions of brand equity: brand awareness,
brand association perceived quality, and brand loyalty.

30 | P a g e
 Considering its comprehensiveness, this study based on the concept of brand
equity by Aaker (1991, 1996) who established the four dimensions model of consumer
based brand equity which the dimensionality has been tested by some researchers: (Cobb
Walgren et al, 1995; Yoo & Donthu, 2001; Washburn and Plank, 2002; Pappu et al, 1998,
2005; Atilgan, 2005; and Kim and Kim, 2005).
Consistent with Aakers conceptualization, Cobb-Walgren et al. (1995) and Pappu
et al (2005) found four dimensions of brand equity, while contrasted with findings of Yoo
and Donthu (2001,2002) and Washburn and Plank (2002) that also based on Aaker’s
conceptualization, but observed only three brand equity dimensions.
While previous studies tested and found associative relationship among the
dimensions of brand equity, beside testing the dimensionality, this present research tested
the direct and indirect causal relationship among comprehensive dimensions of brand
equity which included brand awareness, brand association, perceived quality and brand
loyalty. By doing so, we also could find which dimensions has influenced brand loyalty.
In addition, although numerous local or global different product categories have been
employed to measure the brand equity, literature on brand equity within the hospitality
industry still relatively limited (e.g. Kim and Kim (2005) using luxury hotel and chain
restaurant; Atilgan (2005) using beverage industry; even Pappu et al. (2005) using car
brands and television brands
This research would provide manager and researcher a conceptual framework to describe
the relationships between the brand equity constructs and a more thorough understanding
of consumer behaviour that implies for marketing strategist for making better strategic
decision about target market definition and product as well as better tactical decisions
about specific marketing-mix actions.

31 | P a g e
LITERATURE REVIEW

Brand Equity

The issue of brand equity has emerged as one of the most crucial topics for marketing
management since 1990s( Leuthesser,1988; Keller,1993; Cobb-Walgren, Ruble, &
Dontu, 1995: Lassar, Mittal & Sharma, 1995; Aaker, 1996; Dyson, Farr, and Hollis,
1996; Faircloth et al. 2001, Esch et al, 2006; Ramos & Franco et al. 2005.
Brand equity has been considered in many context: the value added to the product (Jones,
1986; Lethesser 1988; Farquhar, 1990; Aaker,1991,1996,1999; Keller, 1993,1998, 1999;
Kapferer, 1997); value of the firm (Aaker, 1991; Kim & Kim, 2005); value of the
customer(Aaker1991; Martensen & Gronholt, 2003); brand preference, purchase
intention (Lattin, 1987; Zeithaml 1988; Hardie et al 1993; Cobb-Wagren 1995); brand
loyalty, brand awareness perceived quality, brand associations (Aaker, 1991;
Keller,1993; Gralpois 1998, Pappu et al, 2005; Atilgan et al, 2005); differential effect of
brand knowledge of consumer response to the marketing of brand (Keller,1993);
incremental utility (Simon & Sullivan, 1993); consequence of marketing efforts (Ramos
& Franco, 2005).
There have been three different perspectives for considering brand equity; The customer-
based perspectives, the financial perspectives and combined perspectives. While this
study focus on the customer based perspectives.

Customer- Based Brand Equity.

The advantage of conceptualizing brand equity from the Customer- based
perspective is that it enables managers to consider specifically how their marketing
programs improves the value of their brands in the minds of consumers.
Within the marketing literature, operationalization of customer based-brand
equity usually fall into two groups (Cobb-Walgren et al. (1995); Yoo & Donthu (2001)):

32 | P a g e
consumer perception (brand awareness, brand associations, perceived quality ) and
consumer behaviour (brand loyalty, willingness to pay a high price).
Mahajan, Rao, and Srivastava (1991) claimed that customer-based brand equity
could be measured by the level of customer’s perception. Also operationalized by Lassar
et al. (1995) as an enhancement of the perceived utility and desirability that a brand name
confers on a product. According to them, costumer- based brand equity indicates only
perceptual dimensions, not including behavioural or attitudinal such as loyalty or usage
intention, which differs from Aaker’s (1991) who suggested to measure brand equity
including behavioural and attitudinal dimensions. Farquhar (1990) maintained that brand
equity is reflected by the change of consumer attitude while purchasing a product. Aaker
(1991) incorporated definitions, the four dimensions of brand equity namely brand
awareness, brand association perceived quality, and brand loyalty.
Customer- Based Brand Equity is defined as “a set of Brand assets and liabilities linked
to a brand, its name and symbol that add to or subtract from the value provided by a
product or service to a firm’s consumers (Aaker, 1991)”.
On the other hand, some researcher related the customer based brand equity with
other construct, e.g. Farquhar and Ijiri (1991) proposed a model by judging the
corporation’s marketing efforts on its brand directly. While Lassar et al (1995) focused
on relationship between customer based and financial/ market based brand equity
measurement. Customer-based brand equity in this respect, is the driving force for
incremental financial gains to the firm.

Table 1. Main different concepts:

Main Concept
contributor
Mahajan Rao Measure customer based brand equity by the level of customer’s
(1991) perception
Farquhar -Brand equity is reflected by the change of consumer attitude
(1990) while purchasing a product.

Aaker ( 1991) Measuring the four dimensions of brand equity: brand awareness,

33 | P a g e
 brand association perceived quality, and brand loyalty.
Keller (1993) Adopted two basic approaches (direct and indirect ) to measure
customer- based brand equity emphasizing two constructs: brand
awareness and brand image. The indirect approach to identify
potential sources of costumer- based brand equities The direct
approach focuses on consumer response to different elements of
firm’s marketing program.
Farquhar & Judging the corporation’s marketing efforts on its brand directly.
Ijiri
(1991)
Lassar et al, Relationship between customer based and financial/ market based
1995 brand equity measurement. Customer-based brand equity in this
respect is the driving force for incremental financial gains to the
firm.

Hypothesis

Relationships between Brand Awareness and Brand Associations.

Aaker (1991, 1996) argued that brand equity is a multidimensional construct,
which consists of brand loyalty,
Customer based brand awareness, perceived quality, brand loyalty and brand
awareness and brand associations. Brand equity occurs when the consumer has a high
level of awareness and familiarity with the brand and holds some strong, favourable, and
unique brand association memory.
Fiske and Taylor (1995) contended that brand associations could be recalled in
customer’s mind as emotional impressions. Brand awareness influences consumer
decisions making by affecting the strength of the brand associations in their mind.
(Keller,1993,1997). Pitta and Katsanis (1995) also pointed out that there are several
dimensions of brand awareness with brand associations. They further indicated that brand
associations of the product can be stored in consumer’s minds after brand awareness of
the product are already in their memory.

34 | P a g e
 Brand awareness and brand associations were found to be correlated (Atilgan et
al 2005; and Pappu et al 2005). Moreover, high levels of brand awareness positively
affect the formation of the product’s brand image (association) (Ramos and
Franco,2005). Esch et al (2006) also found that brand awareness affects brand image
(association). These literature review leads to hypotheses H1

H1: Brand Awareness has a positive direct effect to Brand Associations.

The Relationship between Brand Awareness, Brand Association and Brand Loyalty

Yoo, Donthu and Lee, (2000) researched about brand awareness with brand
associations and brand equity. These researchers indicated that brand awareness with
brand association has a significant positive effect on brand equity.
While brand loyalty can be defined as combination of elements including the
degree of customer satisfaction and the positive of brand associations. Thus it can be seen
that if customers had higher brand associations and brand awareness, brand loyalty would
increase. Similarly in Atilgan’s (2005) study, the more favourable associations consumers
have towards a brand, the more their loyalty and vice versa.
These literature review leads to hypotheses H2, H3
H2: Brand Awareness has a positive direct effect to Brand loyalty
H3 : Brand Association has a positive direct effect to Brand Loyalty

The Relationship between brand awareness, brand association and perceived quality.

As studied by Aaker (1991), Keller (1993) and Pappu et al (2005), consumer who
hold favorable associations towards a brand are also likely to develop favorable
perceptions of quality and vice versa. Brand awareness in their study has been defined as
consumer’s ability to recall that a brand is a member of product category. Consumers
brand awareness is likely to be high when they have strong associations for the brand and
when they perceived the quality of the brand to be high and vice a versa.

35 | P a g e
These literature review leads to hypotheses H4 and H5:
H4: Brand Awareness has a positive direct effect to Perceived Quality.
H5: Brand Associations has a positive direct effect to Perceived Quality.

The Relationship between Perceived Quality and Brand Loyalty.

For several studies found that brand loyalty is related perceived quality (Mc
Connel, 1968, Shapiro, 1970 Szybiloo and Jacoby, 1974) as reviewed by Lau and Lee
(1999).
Atilgan et al. (2005) studied the relationship between the dimensions of brand
equity and brand equity itself. They concluded that brand loyalty is the most influence
dimension of brand equity. Even their study did not give enough support to the existence
of a direct causal relationship between the three dimensions brand awareness, brand
association, and perceived quality and brand equity However, observed pair-wise
comparison suggested that there is a correlation between brand loyalty, brand
awareness, and perceived quality. As a result they suggested that concentrating brand
loyalty, should not undervalue the effect of brand awareness and perceived quality to
brand loyalty.
As Pappu et al’s study (2005) is envisaged that consumer’s perception of
quality will be associated with their brand loyalty. The more brand loyal a consumer is,
the more he or she is likely to perceived the brand as offering superior quality and vice a
versa.
These literature review leads to hypotheses H6
H6 : Perceived Quality has a positive direct effect to Brand Loyalty

The Mediating Effect of Perceived Quality

Brand awareness has been defined as consumer’s ability to recall that a brand is
a member of product category (Aaker, 1991). Consumers brand awareness is likely to be
high when they have strong associations for the brand and when they perceived the
quality of the brand to be high and vice a versa. Similarly, consumers’ perception of

36 | P a g e
quality of a brand is likely to be high when they have strong association with the brand
and vice versa Pappu et al. (2005). According to Aaker (1991) while brand awareness
builds the familiarity liking sight and is a signal of substance/commitment, perceived
quality acts as a differentiation tools.
These literature review leads to hypotheses H7, H8
H7: Perceive Quality is mediating the relationship between Brand Awareness and
Brand Equity.
H8: Perceived Quality is mediating the relationship between Brand Association and
Brand loyalty.

The Mediating Effect of Brand Association.

Brand awareness influences consumer decisions making by affecting the

strength of the brand associations in their mind.(Keller,1993,1997). Pitta and Katsanis
(1995) also indicated that brand associations of the product can be stored in consumer’s
minds after brand awareness of the product are already in their memory. Later Atilgan et
al; and Pappu et al (2005) found that brand awareness and brand associations were
correlated. These literature review leads to hypotheses H9
H9: Brand Association is mediating the relationship between Brand Awareness and
Brand Loyalty.

37 | P a g e
Research Map
To illustrate the relationship between brand equity dimensions and the relationships with
another construct based on literature review, we present a research map shown in Figure
2.

Marketing
Efforts Yoo et al (2005)
Yoo et al, (2000) Atilgan et al (2004)
Yoo at al (2000)
Price deals Brand Equity
Yoo et al (2000)
Aaker,1991
Store image Bauldauf et al (2003)
Pappu et al (2005)
Ramos &Franco (2005)
Distribution Ramos &Franco (2005) Proposed Hypotheses Pappu et al (2005)
intensity Gralpois 1998 Value of
the firm
Advertising Ramos & Franco (2005)
Aaker 1991
Pappu et al ( 2005) Aaker( 1991)
Spending Brand Keller1993
Kim and Kim (2005)
Faircloth et al 2001
Atilgan Awareness Aaker (1991)

Aaker (1991)
Keller (1993) Yoo et al (2000)
Keller (1993)
Value of the
Pappu et al (2005)
Yoo at a l(2000) Martensen & Gronholdt customer
2003
Pappu et al (2005) Keller (1993,1995) Aaker (1991)
Pitta and Katsanis (1995) Proposed Hypotheses Pappu et al 2005 Chaudori 1999
Dyson et al (1996)
Pappu et al (2005) Aaker (1991)
Keller (1993) Perceived Proposed Hypothesis Aaker,1991
Franz Rudol Each et al(2005) Mc Connel,1968) Brand Loyalty Keller 1993 Brand
Ramos & Franco (2005)
Ramos & Franco (2005) Quality Shapiro, (1970)
Atilgan et al (2005)
Yoo, et al 2000
Szyybiloo and Jacoby,(1974) Yoo et al (2000)
Faircloth et al 2001 attitude
Aaker (1991)
Potential Proposed Hypothesis
Aaker (1991) Pappu ( 2005) Cobb-Walgren(1995)
Drivers Cobb-Wagren
Keller (1993)
et al (1995)
Consumer Drivers Pappu (2005) Tsoukatsos & Rand
(2006) Zeithaml, (1988) Brand
Risk Aversion
Variety seeking Proposed Hypothesis
Bauldauf et al(2003) Martensen& Gronholts
Lattin 1987 Preference
Pappu et al (2005) Hardie et al 1993
2003
Aaker 1991;Keller 1993, Farquhar ( 1990)
Brand Drivers Faircloth et al (2001) Faircloth et al 2001. Gounaris &Stathakopoulus
Brand (2004)
Brand Reputation
Association Pappu et al(2005) Purchase
Availability of Intention
Substitute Brand
Tsoukatos & Rand
Franz Rudolf et al (2006) (2006)
Gounaris & Stathakopolous Atilgan et al (2005)
(2004) Word of
Social Drivers ProposedHypothesis
Mouth
Gralpois 1998 Comunication
Social group -
influence
Peers
recommendation
Faircloth et al (2001)
Affect
Brand
Inter-relation Satisfaction Maxham & Netmeyer (2002)
Franz Rudolf et al(2006)

Main construct
:

FIGURE 1. Research map

METHOD.

38 | P a g e
 This research examined the relationship among the four most important
dimensional constructs of brand equity which is includes brand awareness, brand
associations, perceived quality and brand loyalty

Research Framework

Based on literature review and research hypotheses as illustrated in the last chapter, this
study develop the conceptual framework of this research as shown in Figure 3

Model
Brand H2
Awareness
H4
H7

H1 Perceived H6
Model Brand Loyalty
Quality

H5 H8

Brand H3
Association

H9

FIGURE : The Research Framework

The proposed research framework present the relationship between four construct of
customer based brand equity namely Brand awareness, brand association, perceived
quality and brand loyalty.

39 | P a g e
Measures
Measures of brand equity consist of the four construct of customer based brand
equity. This study employed a five point Likert scale anchored from 1 (strongly
disagreed) to 5 (strongly agreed) which were adopted from Atilgan (2005) and Kim and
Kim (2005).

Brand awareness:-
Empress City is the project of KSL and Industries, which is situated in the heart of orange
city. This project is distributed in five phase Empress mall, Resident tower, Co-operate
tower, Hotel Taj, Empress Trinity. The five phase of Empress City is designed to assess
their ability to recognize and recall the brand as a member of a certain project category.
Brand awareness means how much the customer knows about the specific brand name.
Lets take the Empress mall in which more focus is given on main anchors like Life style,
Pantaloon’s, Big Bazaar, Mac Donald’s, etc..as these brands are more appraciated by the
customers and it also the sign of status.Thus, Empress City is known for its collection of
various brand name together at one place.

Brand Associations:-
For the association of brand the main attraction of Empress city is its shopping mall as it
is one of the biggest shopping mall in the central India.As in Empress Mall main focus is
on quality of goods, service provide,security etc.Empress Mall provides big brand, it’s a
symbol of status, good quality good is available at affordable price ,service is promt, its
location,the footcourt also contains a lot of brand,the main attraction is Mac Donald,
Lifestyle, Pantaloons, big Bazar which occupies a large space, it is very different from
other malls in Nagpur. All these things mentioned above makes the Empress mall
associates with its customer.

Perceived Quality:-

40 | P a g e
Whenever the customer visits any shop he/she first see the quality of the product, service
provide, the staff of the shop, their behavior towards their customer. in Empress Mall
more efforts are made to maintain the quality and relation with customer. In Empress
Mall there are all big brands are situated no local brand is present which is the main
strength of empress mall. Empress Mall has provided with good physical facilities (e.g
building, sign, room décor, illumination) are visually appealing, well trained staff
members, good brands wssssith persised quality, at one place all needs of customer is
fulfild,prompt service is provided. Because of these the customers are pulled to
Empress Mall.

Brand Loyalty:-
Brand loyalty means customers are not moved to another brand they are loyal to their
respective brand. In Empress Mall because of the collection of all big brands together at
one place, the quality ,and the service provide the customer are more loyal o it. The
loyalty of customer is seen by regular visit to mall, intend to visit the mall again, usually
tis mall is first choice, customers satisfaction, recommendation to others, not switching to
another mall.

The Structural Model

The main purpose of this study is to analyze the causal relationships, including the
mediating effect between brand awareness, brand associations, perceived quality and
brand loyalty. From the structural model we got the result as follows:

. Direct Effect.
Path Paramet Standard T- Standard Hypothese Result
er error value solution s
estimate
BAW->BL γ 0s.14 0.14 0.97 0.14 Positive Not
11 supported

BAW-> PQ γ -0.19 0.08 -2.25 -0.19 Positive Not

21 supported

41 | P a g e
 BAW->BA γ 0.51 0.10 5.25 0.51 Positive Supported
31
BA->BL β 1.02 0.47 2.17 1.02 Positive Supported
12
PQ-> BL β -0.45 0.39 -1.15 -0.45 Positive Not
13 supported
BA -> PQ β 0.98 0.17 5.73 0.98 Positive Supported
23

The Direct Relationship

Table 6 shows the path coefficient from brand awareness ( BAW) to brand loyalty (BL)
is positive but not significant: ( γ 11 = 0.14, T-value 0.97 p> 0.05) this not support the
hypotheses ( H2) that brand awareness has a positive direct effect to brand loyalty. The
path coefficient from Brand awareness ( BAW) to Perceived Quality (PQ) is significant
even inverse: ( γ 21= -0.19, T-value -2.25 p< 0.05) this not support the hypotheses (H4)
that brand awareness has a positive direct effect to perceived quality. We argue that
brand association plays as a suppressor in our model that leads to inverse relation
between brand awareness and perceived quality.
The path coefficient from Brand awareness (BAW) and Brand Association (BA) is
significant( γ 31= 0.51 T- value 5.25 p < 0.05), thus the hypotheses that brand
awareness has a positive direct effect to brand association (H1) is supported. The path

coefficient from Brand Associations ( BA) to Brand Loyalty ( BL) is significant( β

12= 1.02, T-value 2.17 p< 0.05) thus the hypothesis that Brand association has a positive
direct effect to brand loyalty (H3) is supported. The path coefficient from Perceived

Quality (PQ) to Brand loyalty (BL) is not significant even inverse ( β 13= -0.45, T-
value -1.15 p>0.05) this not supported the hypothesis (H6) that Perceived quality has a
positive direct effect to Brand loyalty. sThe path coefficient from Brand Association

42 | P a g e
(BA) to Perceived Quality ( PQ) is significant ( β 23=0.98, T- value 5.73 p< 0.05) thus
the hypothesis that Brand Associations has a positive direct effect to Perceived Quality
(H5) is supported.

TABLE . The Total and Indirect Effect

Endogenous
Brand Associations Perceived Quality Brand Loyalty
Effect T value Effect T value Effect T value
B. Awareness
Direct .51*** 5.25*** -.19 -2.25* .14 0.97
Exogenous
Indirect -- -- .50*** 4.63*** .38*** 2.76**
Total .51*** 5.25*** .31*** 3.65*** .52*** 4.84***
B. Associations
Direct .98*** 5.73*** .58 *** 4.15***
Endogenous
Indirect -- -- -- --
Total .98*** 5.73*** .58 *** 4.15***
P. Quality
Direct -.45 -1.15
Endogenous
Indirect -- --
Total -.45 -1.15
∣T ∣≧1.96 ，*p 0.05 level；∣ T≧2.58 ，at **p 0.01 level and ∣ T∣≧3.29 ，at ***p
0.001 level。

Indirect relationships ( Mediating Effect)

Table shows the existence of mediating effect on the structural model.

43 | P a g e
Fully mediation ( only indirect effect) is found in the relationship between Brand
awareness and Brand Loyalty via mediator, Brand Association. Fully mediation is also
found in the relationship between Brand awareness and Perceived Quality because there
is an inverse direct relationship between Brand awareness and Perceived quality but there
is an indirect effect between Brand Awareness and Perceived Quality via Brand
Association.
We find that perceived quality is not mediate the relationship between Brand
Awareness( BAW) toward brand loyalty (BL) and between Brand Associations (BA)
toward Brand Loyalty (BL) this not support the hypothesis H7 and H8.

In this case we find that Brand Association( BA) mediate the relationship between Brand
Awareness(BAW) and Perceived Quality (PQ) and between Brand awareness (BAW)
toward Brand Loyalty, thus the hypothesis H9 is supported .

X1  4  .68  5  .51  6  .47  7  .41  8  .52  9  .73

Y4 Y5 Y6 Y7 Y8 Y9
 1  .37 BAW 1
X 11  .79 PQ 3 PQ5 PQ6 PQ7 PQ8 PQ 10
X2 Y 62  .73 Y 82  .69
Brand
 2  .17 BAW2 Y 42  .56
X 21  .91Awareness Y 72  .77
1 Y 52  .70 Y 92  .52


11
1

 3  .82 X2 X 31  .43 = .14

Y1
BAW 3   .72
BL1 1
 21  .19 * Brand Y11  .53
 10  .70 Y10 Perceived Loyalty
BA1  31  .51 Y2  2  .51
Quality  12 = -.45 1 Y 21  .70
 11  .47 Y11 Y 10.3  .55 2 BL2
BA2 Y 31  .66 Y3
 3  .57
Y12 Y11.3  .73  23= 0.98* BL4
 13  1.02 *
 12  .66 BA5
Y 12.3  .58 Brand
 13  .65 Y13
Association
BA6 Y13.3  .53 3
 14  .72 Y14 Y 14.3  .59
BA7

Note: BAW : Brand awareness, BL: Brand Loyalty, PQ : Perceived Quality, BA : Brand
Association
Figure 3. Result of proposed model in Lisrel

Common method variance

According to the technique of Harman’s one factor test, if a single factor emerge from the
factor analysis or one factor accounts for more than 50 % of the variance in the variable,
common method variance is present (Matilla and Enz, 2002). Our analysis revealed 3
factor structure with no general factor present ( the 1 st factor account for 34 % variance).

44 | P a g e
It does provide support for the absence of such general bias in the finding ( Matilla and
Enz, 2002).

ANALYSIS

The analysis has been done in two ways

1. SWOT Analysis
2. BCG matrix

SWOT Analysis deals with the strengths, weakness, opportunities and threat of the
Empress Mall.It helps to collect the proper information about the mall and if the result us
negative than it also helps to take proper action over it.

SWOT ANALYSIS

STRENGTHS WEAKNESSSES

1. Big brands (lifestyle,Pantaloons,Big 1. Saturday market

Bazar,Mac Donald’s) 2. Street Hawkers
2. Prompt service 3. Near by locality
3. Central India’s biggest shopping 4. Santra market
mall
4. Too near to railway station, bus
stop,etc

45 | P a g e
 OPORTUNITIES THREAT

1. Capture the market 1. Marketing is not proper

2. Attract the customer 2. Competitors
3. Late opening

BCG Matrix

STAR CASH COW

EMPRESS MALL RESIDENTIAL TOWER

QUESTION MARK PROBLEM CHILD

COORPERAT TOWER HOTTLE TAJ

EMPRESS TEINITY

46 | P a g e
CONCLUSION

From this research we could present some contribution and managerial implication, as
well as its limitation and suggestion for future research.

Contribution and Implications

One of the contribution of this research is that the result established that four
dimensions model of consumer based brand equity is the distinct dimension/construct
consistent with the conceptualization of Aaker’s (1991, 1996) that was similar to Cobb-
Walgren et al. (1995) and Pappu set al (2005), while contrasted with findings of Yoo
and Donthu (2001,2002) and Washburn and Plank (2002) that also based on Aaker’s
conceptualization, but observed only three brand equity dimensions. Another contribution
is that this present research enriched the consumer based brand equity measurement by
tested and found that there are direct and indirect causal relationship among dimensions
of brand equity, while previous studies tested and found associative relationship among
dimensions of brand equity.
In this study, we found that brand association is the most important variable
which affect brand loyalty. We also found that brand awareness affect brand loyalty via
brand associations. This has been indicated by Pitta and Katsanis (1995) that brand

47 | P a g e
associations of the product can be stored in consumer’s minds after brand awareness of
the product are already in their memory. Thus brand association is mediate the
relationship between brand awareness toward brand loyalty support our hypothesis. We
also found that brand association plays as a suppressor in our model that leads to inverse
relation between brand awareness and perceived quality, and perceived quality toward
brand loyalty that against our hypothesis.

Finding shows that brand association becomes a very important dimension to

affect brand loyalty. It has implication that manager have to maintain or strengthen their
effort upon the Brand association as: to keep their clean-lines, cheerful atmosphere, good
taste and price, and friendly staffs. Even Empress Mall targeting a diverse market ranging
from children to elderly people, manager have to be aware about customer’s
characteristic relevant with their age and individual habit toward the mall. The
descriptive statistic of demographic characteristic and information about individual habit
of the consumer in this research may could be considered, or become an example for the
manager to get information from their customer.

48 | P a g e
LIMITATIONS

This research describe the causal relationship between brand equity constructs
without relate them to their antecedents like marketing efforts and with their
consequences like value of the firm, that might be more useful for the marketing
strategies.

There are certain limitations to this mall it is as follows:-

1. Week Marketing of the mall

2. Santra market
3. Phule Market
4. Cotton Market
5. No support of locality
6. Saturday Market
7. Hawkers on roadside

49 | P a g e
RECOMMENDATIONS

1. It is essential to increase the marketing strategies.

2. Declare the nearby area of mall as no hawker zone.
3. Proper training must be given to the employees and also the employees must have
good communication skill.
4. Traffic must be control.

BIBLIOGRAPHY

1. Aaker, A, David, 1992. The value of Brand Equity, Journal of Business Strategy.
Vol 13.

2. Aaker, A. David, 1996. Measuring Brand Equity Across Products and Markets,
California Management Review, Spring.

3. Philip Kotler 12th edition Marketing Managem.s

4. www.ksl and industries.com
5. www.google.com

50 | P a g e