The Impact of Emotional Marketing on Brand Awareness and Brand Loyalty in The Food Industry: A Study based in India
The food industry is one that has potential for high growth with a promising future in the form of multiple platforms for selling. At a standalone point, it accounts for about 70% of retail sales and is also a backbone to the agri-business industry. With an array of products and services offered through various channels, the need for visibility is a critical factor with the abundance of multiple players, not to mention the domination of the giants in the industry. The key factor that binds the consumers to their preferred brands creating brand loyalty, brand recognition and recall is nothing but emotions. With each marketer developing their own strategies only to have competition to follow suit for the same, this researchstudies if emotional marketing is the approach for companies to have their own share of dominance in the Indian food industry. Three brands commonly found in the Indian market were studied, using a sample of 384 respondents tounderstand their views and response to the same. Regression analysis was performed to measure the impact of the different components that create value to a consumer, further deciding whether brand attachment or brand loyalty is affected more. This determines if emotional marketing is going to be the prime focus of the food industry as a strategy to gain competitive advantage. The study highlights different emotions stated by the respondents, further concluding that brand attachment is impacted more than brand loyalty.
Keywords - Emotional Marketing, Attachment, Loyalty, Emotions, Competition