3BM280: Brand awareness has been a marketing approach for a long time and has been a key strategy to increase the rate of attention of customers towards a particular product: Applied Business Research Assignment, YSJ, Singapore

Introduction

Brand awareness has been a marketing approach for a long time and has been a key strategy to increase the rate of attention of customers towards a particular product. Puma is facing a brand awareness problem and we are finding ways to create awareness about the products, a company focuses on developing market strategies and marketing analysis (Świtała et al. 2018). In Singapore, there are several brands that have gained advantages from their brand awareness skills, and it has been visibly affecting the buying behaviour of the customers.

This Report will focus on the advantages of increasing brand awareness for puma and the impact on consumer buying behaviour in the Singaporean market. The literature review section of this report will discuss the topic in brief, the methodology section will conduct the research using a suitable method, and the report will proceed with the findings and their discussion. Some suitable recommendations will also be provided in this report, along with a befitting conclusion.

1.1The rationale of the Study

The recent years have been very challenging for the entire world, and the global market has seen some crashes. The factors of unemployment and economic downfall have greatly impacted the companies within the global market (Handoko, 2021). The consumers’ thinking and buying behaviour has also changed. The need for brand awareness, in this case, has become extremely important in this. There are several advantages of brand awareness, and the companies that have expanded their businesses in the global market, especially in the Singaporean market, have resorted to this marketing feature.

In the global market, advertising has become a way of creating brand awareness among the consumer market to find the products they would need from the market. The brands have gained a competitive mindset from this increasing spread of brand awareness and advertising and have understood that the more unique the advertisement is, the more it will be effective in the market and will grab the attention of the consumers (Zia, Younus and Mirza, 2021). Therefore, it is important to research and analyse the said topic to understand the importance and advantages of increasing brand awareness in the global market and in the Singaporean market to gain the attention and favour of the consumers.

1.2 Research Objectives

The need for brand awareness in the global market has increased rapidly within the last two years. Brands across the world, especially in the Singaporean market, have gained adequate knowledge regarding marketing and have been implementing this in their companies individually. This has created a significant increase in the market in terms of brand awareness.

The objectives of this research for Puma:
To understand the concept of brand awareness within the global market in order to spread product awareness among the consumers.
To identify the advantages of a company that effectively uses brand awareness as a marketing strategy over the companies that do not use the same.
To identify the popularity of the concept of brand awareness in the Singaporean market and its significance in gaining consumer attention in Puma.
The main contribution of the research objectives is to research various methods for increasing brand awareness for PUMA in Singapore for consumers.

1.3 Research questions of the study

What is brand awareness, and how is it advantageous for different companies at large in the global market?

How has the Singaporean market developed its marketing strategy and has included brand awareness to affect consumer buying behaviour?