Impact of Brands on Consumer Involvement in Buying of High Value and Low Value Product

Abstract

Market dynamics are continuously changing, the consumers expectations and aspirations from the brand are increasing day by day due to cut thought competition in the market. Every big giant wants to dominate other giant and want to establish and scratch the market of the competitor s brand. As a brand is an integral part of holistic marketing and now more important than it ever was. In the present era, big organizations invest in research and development and try to retrieve the attention of the customers. In order to create a competitive brand, they need to pay attention to their customers constantly. In current retail environment, consumers are overwhelmed with plenty of brands and products market conditions are constantly changing, therefore it is concluded that change is inevitable hence producers have to take up challenges in a positive way and undergo the production processes as per the latest trend and lifestyles of the people. Indian economy, despite slowing growth and macroeconomic challenges like inflation, falling investment and fiscal deficit, is still among the fastest growing economies in the world. As we all know that one of the major reasons for the down fall on these days are due to COVID 19. CRISIL report concludes that- Fiscal 2021 year was very tough year in the history of Indian economy, although Indian economy was going through a very challenging pace even before the pandemic also. Although, the economy is showing some positive signals but these are very small glow of hope and uneven also. The GDP, gross domestic product is anticipated to reach up to 8% by end-of the fiscal year. CRISIL again predict that, our country gross domestic product, GDP growth to bounce back to 11% in the year 2022. In reality, though the economy will end up only 2% above the fiscal 2020 level, it will be a sharp 10% lower than its trend level. Fiscal 2022 is also seen emerging as a story of two halves. The first half will be characterized by a base-effect-driven recovery amid the challenge associated with the resur