Contemporary Business Studies - Academy of Knowledge Process ...

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International Journal of Contemporary Business Studies Vol: 3, No: 1. January, 2012 ISSN 2156-7506 Available online at http://www.akpinsight.webs.com Table-6 : Coefficient Unstandardized Standardized t Sig. Model Coefficients B Std. Coefficients Beta (Constant) -1.783 Error 4.730 -.337 .741 X1 .815 .354 .540 2.506 .035 X2 .497 .363 .356 2.197 .043 X3 .789 .318 .405 1.487 .293 X4 0.126 .339 .322 .249 .213 a Dependent Variable: Y The Standardized Beta Coefficients in table-6 give a measure of the contribution of each variable to the model. A large value indicates that a unit change in this predictor variable has a large effect on the criterion variable. The t and Sig (p) values give a rough indication of the impact of each predictor variable – a big absolute t value and small p value suggests that a predictor variables having a large impact on the criterion variable. Quality of new brand has the highest beta value (0.815), current fashion has the second highest beta value of (0.789), price and new in the market have the values 0.497 and 0.126. Error variance is explained by a constant by (4.730), followed by Price (0.363), Quality of new brand (0.354), New in the market (0.339) and Current fashion (0.318). Sample t-test correlates positively for quality of new brand (2.506), price (2.197), and current fashion (2.487) with the percentage of looking for a new brand of fairness cream. The multiple regression equation is as follows. Y = -1.783 + 0.815X 1 + 0.497X 2 + 0.789X 3 + 0.126X 4 3. Factors influencing to purchase a brand of product The peer group and the advertisements have different influences across the stages of decision-making. Studies have shown that opinion, advice and the values of the reference group are the effective behavioural determinant of the people. The behaviour of an individual towards a particular brand is significantly influenced by the advertisement.Table-7 is formed on the basis of the information collected to rank the factors influencing to purchase a particular brand of fairness cream. Table-7: Ranking of factors Influential factors Rank Rank sum(SR) Rank sum(SR)2 Family 2 195 38025 Friends 3 295 87025 Word of mouth 4 340 115600 Neighbours 5 370 136900 Advertisement 1 140 19600 Total 1340 397150 Now by Kendall’s’ coefficient we can estimate the relationship and test whether the different respondents are in agreement or not, as given below. H 0 : The respondents have disagreement in ranking. H 1 : The respondents have agreement in ranking. Test statistic Kendall’s coefficient of concordance is given by the following rule S W = , n = no. of attributes ranked=5, k =number of respondents =200 1 2 3 k n − n 12 ( ) 50 Copyright © 2012. Academy of Knowledge Process
International Journal of Contemporary Business Studies Vol: 3, No: 1. January, 2012 ISSN 2156-7506 Available online at http://www.akpinsight.webs.com 2 Where, S ( SR ) − n( SR ) 2 W = 1 12 k 2 = ∑ = 38030 S 3 ( n − n) = 0.095075 2 Kendall's Coefficient of Concordance approximately follows χ = k (n-1) W= 200*4*0.095075 = 76.06 with (n-1) d.f 2 2 χ (cal) = 76.06 > χ (tab with 4 d.f and at 5% level of significance) = 9.48773 So, H 0 is rejected and H 1 is accepted. Interpretation: The most influential factor of choosing a brand of fairness cream is the advertisement, where family and friends occupy the second and the third places respectively. And word of mouth and the neighbours are placed 4 th and 5 th positions. Kendall’s’ coefficient test strengthened the hypothesis that the respondents have the nearest approach to the same ranking with respect to the most influential factor to choose a particular brand of fairness cream. 4. Value of the brand Branding is an act of occupying the mind space of the consumer. The consumers create an image about the brand when they purchase the product. A positive impression will be created automatically in the mind of the consumers if, they can derive the value for the brand. The value may be in terms of money or social acceptability or self satisfaction. Table-8 depicts the value of the brand in general collected from the respondents. Value of Brand Response Table-8: Brand value Value for money Social acceptability Satisfaction Total Yes 45 69 38 152 No 18 17 13 48 Total 63 86 51 200 The basic purpose of forming the table is to test the association between the value of the brand and the purchase decision making process using chi-square test. Null hypothesis H 0: Value of the brand is not associated with the purchase decision making process. Test statistic: x 2 (Chi-square) = ∑ [(O- E) 2 /E]= 1.627601, Tab. Val of x 2 (0.05) at 3 d.f is 4.541 As, x 2 cal < x 2 tab , H 0 is accepted and H 1 is rejected Interpretation: The purchase decision making of fairness cream is associated with the value of the brand. It is also observed that the value of the branded fairness cream for the people is mostly ‘social acceptability’ and the ‘value for money’. Respondents have given the least preference to ‘satisfaction’ for the value of the brand 51 Copyright © 2012. Academy of Knowledge Process
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