Contents

Contents..................................................................................................................... 1 Introduction............................................................................................................. 2 Background of the study..........................................................................................2 Significance ............................................................................................................3 Problem Statement ................................................................................................4 Problem Justification................................................................................................ 4 Objectives of the study............................................................................................4 Chapter II.................................................................................................................... 4 Literature review......................................................................................................4 Brand.................................................................................................................... 5 Brand Personality..................................................................................................5 Brand Loyalty........................................................................................................9 Chapter III................................................................................................................. 11 Conceptual framework...........................................................................................11 Independent Variable.............................................................................................11 Chapter IV................................................................................................................. 12 Methodology..........................................................................................................12 Research approach.............................................................................................12 Research Strategy ..............................................................................................12 Population and Sampling.....................................................................................13 Data Collection Method.......................................................................................14 Limitations of the Study......................................................................................15 Findings and analysis..........................................................................................15 Chapter V .................................................................................................................17 Conclusion............................................................................................................. 17 Chapter VI................................................................................................................. 18 Recommendation...................................................................................................18

Introduction
Topic: A study on Brand Personality Dimensions and Brand Loyalty towards Cola Brands in Sri Lanka

Background of the study

In developing brand value perception is more important than reality (Duncan and Moriarty, 1998). Further, what is provoked to see in a brand is more effective than what its strength actually is to capture the minds of the consumers to gain brand loyalty. Brand management should be in accordance with the art of mind to get a better stand in the competitive market. In the present world Brands has turned out to be warriors in the business world. To retain or how to retain a valued customers interest to a certain brand for a considerable period is a mysterious and uneasy task. Therefore, Brand managers should never the less; maintain the satisfaction of the customers in terms of product performance as well as perception. The success of any brand depends on the strategy it uses to maintain customer retention. Therefore, customer retention plays a vital role in creating successful brands. Brand loyalty has become an area of interest for marketing researches and practitioners since then. An acceptable number of marketing researchers point out that loyal customers spend more, or a less price sensitive than non loyal customers in acquiring goods/services, and also act as advocates of a brand in positive word of mouth, in the brand they have faith in. (Krishnamurthi and Raj, 1991). Brand Loyal customers are willing to purchase products at any cost with no hesitation of the brand they favour in. Loyal customers are at the heart of the companys most valuable customer group (Ganesh et al., 2000p. 65; Zeithaml et al., 1996). Therefore, the company saves a huge sum of marketing cost when it has valued customers and need not hesitate to fund in a large scale to keep its loyalty of the customers satisfied at all times, but need to be in the watch out to avoid customer frustration over customer service and all. Similar to focusing on terms of brand loyalty higher observation should be made on brand personality since, it is a rich and more important concept to understand and manage brands in order to gain consumer loyalty. Brand personality is understood as the key to brand identity, and approved empirical study has been conducted to prove this point. Even though, very limited in depth study has been performed on brand personality and its dimensions. In the limited researches done on brand personality Cattle, Norman Evsenck, Guiford and Wiggins are few of the researchers who Page | 2

emphasised on the term brand personality, and have pointed out the importance of brand personality in building a competitive advantage in gaining brand loyalty. Aaker (1997) developed a brand personality scale where thereafter, a proper stream of researches though on this subject was born. Most of the research papers are initially based on Aakers personality scale even though there are pros and cons in it. Aakers personality scale is the foundation for research on brand personality to be conducted. Brand personality is generally understood as the unique characteristics of a brand. Its personality traits are personified and molded in to the likeness of human characteristic traits that adds up to Brand loyalty, which in turn becomes the first preference, attachment, partialness and so on of a consumer.

Significance
Brand loyalty has become a vital role in the current competitive business world. Keen interest and practical marketing strategies should be implemented to create successful brands. Many researchers are in the process of further, investigating the path to brand loyalty by studying the art of brand personality. And many researchers are in the process of investigating the impact brand personality has on brand loyalty. It is expected of brand managers to look into the context and the connection of brand personality has with customer loyalty. Loyal customers are less dependent on the company and its employees for assistance and information of products and services the company offers. Aaker (1997) hypothesis confirms through this scale that soft drinks such as Pepsi Cola is often perceived by consumers as more young, coke as more real and honest Dr. Pepper as more non-conformist and fun. The significance of this study aims to investigate the consumers loyalty in connection to cola brands in local and foreign context with the help of brand personality dimensions created by Aaker (1997). Through this study it covers a number of aspects such as to find justification of whether brand personality has an influence on gaining brand loyalty of the consumers. The conceptual part of the study of brand personality and brand loyalty will be in favor of gaining a better understanding to academicians as well as businessmen. Furthermore, the consequences, the practical aspect and the research implications will also be in favour of the businessmen and academicians to understand to a certain extent how carbonated beverages manipulates different age categories of Sri Lankan cola consumers, and how each age category of Sri Lankan cola consumers view local and foreign cola brands and their thoughts towards it. This study aims to evaluate how brand personality of Cola brands influences to gain brand loyalty in the minds of cola consumers to be in the competitive edge in the open market. Thus, its overall aim is to assist in gaining a thorough understanding of Page | 3

what draws consumer attention and loyalty to certain brands. The following research based on Cola beverages will go up to the extent of showing insight of how different variable influence the consumers buying decision.

Problem Statement
Does Brand Personality affect the Loyalty of Cola Consumers in Sri Lanka?

Problem Justification
Brand personality is a vital point to consider when it comes to consumer loyalty. Brand loyalty depends on how far the consumer is satisfied with the brand and the perception it has towards the brand. The positive perception at all times catches the eye of the consumer. Once a consumer finds favour with a certain brand there is no turning back and finding out details or getting caught to telltales. Brand personality is an influential tool to measure brand loyalty. Therefore, the study of this aim is to justify the above statement by taking in to account Aakers brand personality scale to build up a proper judgment for the benefit of academicians and practitioners.

Objectives of the study

1. To identify the affect of Brand Personality on Brand Loyalty. 2. To provide empirical background on personality dimensions in the Cola Beverage industry. 3. To provide recommendation to Cola manufactures on consumer loyalty and brand personality attributes.

Chapter II
Literature review

Page | 4

Brand Brands and branding is as old as civilization. The word brand is derived from a word called brandr from a North Germanic language which gives the means to burn. It refers to the practice of the producers who burn their mark to differentiate from another. In todays business world the word brand is defined as a name, term, design, symbol, or any other feature that identifies one sellers goods or service as distinct from those of other sellers (American marketing Association). The first journal of a marketing article on the topic of brand can be tracked back to the time of H. D. Wolfe, 1942 Techniques of Appraising Brand Preference and Brand Consciousness by Consumer Interviewing (Moore, Karl et al., 2008, the birth of brand: 4000 years of branding history). Brand is the personality that defines a product, service or company. A brand needs to have unique qualities such as name, sign, symbol, colour combination, slogan to avoid confusion among the fellow brands. Brands also share a psychological aspect such as thoughts, feelings, perceptions, image, experience, beliefs, and attitude and so on. If the brand needs to be well accepted by the consumer proper innovative qualities should be induced to make the brand prominent out of other brands. A brand cannot be created overnight it takes time, money, resources, innovative thinking to get to its place. A brand is designed with a personality and gives identity and ownership for its product. Every product comes in a form of a brand. If a brand is accurately aligned it gains consumer appreciation and loyalty, in return through loyalty it obtains higher sales and revenues. The successfulness of a brand is when customers state a brand without being explicitly exposed to the companys name but rather through visual signifiers like logos, slogans, colours and fonts. Brand is the initial approach to the market. A brand will not be a brand if it has no personality. On the other hand people are a less price sensitive when it comes to purchase their favourite brand. People may often select the more expensive branded product on the basis of the quality. Purchasing a branded product boosts a consumers ego. Brands are made up of various elements such as name, logo, tagline, graphics, shapes, colours, sounds, scents, tastes and movements and so on. Very few journals and articles have been written on the topic of what a brand is, rather they have focused almost exclusively on the consumer side of interest in order to determine what makes an effective brand from the sight of the consumer. There is very limited research done on this topic ever since the early days. Many researchers have spent all their time on researching the sub headings of a brand rather than focusing on what a brand is and how it came in to play in our business world.

Brand Personality

Page | 5

Brand personality is defined as the set of human characteristics associated with the brand (Aaker 1997, 347). Brand personality was initially explored by J. Plummer (1985) and later developed by J. Aaker (1997). J. Aaker has developed her scale of brand personality by extracting from the big five factor model (FFM) by Cost and McCrae, 1992 which was extended to the highest level by Goldberg 1993 which was thereafter further studied by researches such as Cattel, Norman, Eysenck, Guilford and Wiggins. The Five factor model represents an individuals stable recurrent traits. J. Aakers brand personality scale developed through the human personality traits framework created by Cost and McCrae, 1992 has made way to a stream of researches to explore.

Table 1: Aaker's brand personality scale and The Psychological Five Factors Model
Page | 6

Brand personality is one of the most common descriptions in the branding literature ( Davies and Chun, 2003, p. 50). Literature on same has focused mainly on structure of brand personality dimensions and its scale (Aaker 1997 etal. 2001, Corpora, Barbaranelli, and Guido 2001; Sung and Tinkham 2005). The appropriate measurement of existing brand personality traits has been studied over twenty years of time (Plummer 1984). However, in the overall view very limited theoretical research has been done on the empirical aspect of brand personality and actual consumer behaviour. No research has been conducted to develop a systematically reliable, valid and generalizable complete scale to measure brand personality thus far. Aaker (1997) in the process of the development of the scale sought to develop a scale on generalizable across product categories (Aaker 1997, p. 348) by using 631 respondents to rate each 37 brands on 114 personality traits. Hence forth, for this empirical research conducted by Aaker (1997), she created a five factor scale labelling it as Sincerity with traits as domestic, honest, genuine and cheerful, Excitement emphasising the traits as daring, spirited, imaginative and up to date, Competence emphasising the traits as reliable, responsible dependable and efficient, Sophistication emphasising the traits as glamorous, pretentious, charming and romantic, Ruggedness empathising the traits as tough, strong, outdoorsy and rugged. The five dimensions reflect on individuals stable and recurrent traits. However, only three out of the five factors corresponded to the elements of the big five factor model of Goldberg. Appendix A A Brand Personality Scale (Means and Standard Deviations)
Traits Mean Standar d Deviati on 1.35 1044 1.31 1.35 1.34 1.33 1.36 1.36 1.33 1.26 1.37 1.36 1.39 1.38 1.38 1.39 Facet Facet Name Factor Name Sincerity Mean Standard Deviation .99

Down-toearth Family oriented Small- town Honest Sincere Real Wholesome Original Cheerful Sentimental Friendly Daring Trendy Exciting Spirited Cool

2.92 3.07 2.26 3.02 2.82 3.28 2.81 3.19 2.66 2.23 2.95 2.54 2.95 2.79 2.81 2.75

1a 1a 1a 1b 1b 1b 1c 1c 1d 1d 1d 2a 2a 2a 2b 2b

Down-to-earth

2.72

Honest

Wholesome Cheerful

Daring

Excitement

2.79

1.05

Spirited

Page | 7

Young 2.73 Imaginative 2.81 Unique 2.89 Up-to-date 3.60 Independent 2.99 Contemporary 3.00 Reliable 3.36 Hard working 3.17 Secure 3.05 Intelligent 2.96 Technical 2.54 Corporate 2.79 Successful 3.69 Leader 3.34 Confident 3.33 Upper class 2.85 Glamorous 2.50 Good looking 2.97 Charming 2.43 Feminine 2.43 Smooth 2.74 Outdoorsy 2.41 Masculine 2.45 Western 2.05 Tough 2.62 Rugged 2.62 *Based on n = 9.910

1.40 1.35 1.36 1.30 1.36 1.32 1.28 1.43 1.37 1.39 1.39 1.45 1.32 1.39 1.36 1.42 1.39 1.42 1.30 1.43 1.34 1.40 1.42 1.33 1.43 1.43

2b 2c 2c 2d 2d 2d 3a 3a 3a 3b 3b 3b 3c 3c 3c 4a 4a 4a 4b 4b 4b 5a 5a 5a 5b 5b

Imaginative Up-to-date

Reliable

Competence

3.17

1.02

Intelligent

Successful

Upper class

Sophisticated

2.66

1.02

Charming

Outdoorsy

Tough

Table 2: Jnnifer L Aaker , Journal of Marketing Research, August; 1997 There have been arguments for decades that brand personality is an important topic of study when it comes to differentiating brands (Crask and Laskey 1990) to assisting the emotional aspect of the brand (Landon 1974). Researchers have focused on how the personality of a brand enables a consumer to express his or her own self (Belk, 1988) an ideal self (Malhotra 1988), or specific dimensions of the self (Kleine, Kleine and Kernan 1993). Brand personality reflects of how people feel about a brand rather than what they think a brand can do or perform. Therefore, an understanding of how and when a brand personality relates to a consumers personality and thereby influences consumer preference have remained elusive (Sirgy 1982). Further Brand personality tends to serve a symbolic or self expressive function (Keller 1993). Researches argue that symbolic use of brands is possible because consumers often personifies brands with human personality traits. (Gilmore 1919). Aaker (1997) says that brand personality is a good basis to create consumer preference and increase trust and loyalty. Plummer (1984; 2000) stated that brand personality can be a crucial aspect when understanding brand choice of consumers. Brand personality, a number of times has received considerable attention and has been criticized also in many proportions as theoretically, methodologically and substantively on the other part. (Blackston 1993). The deferential Sementic scale Page | 8

(Birdwell 1968; Plummer 1985) is also one of the scales introduced before Aakers brand personality scale. All these scales introduced are outdated since reliability and validity problems have not been tested. Brand personality scales should include both qualitative and quantitative methodologies in order to be a complete set of work. Considering all these aspects only Aakers brand personality scale has been considered by most of the researches and marketers as the only reliable method of measuring a brand. In the past researches have suggest that brand personality is important when used as a research tool to identify personal meaning for the consumer. (King 1989) some say that brand personality is needed only when developing advertisements (Lannon and Cooper 1983). Others say that brand personality should be a key determinant of brand equity (Aaker 1991; Biel 1993). However, considering all criticism in my view brand personality has multiple uses, even if it acts as a research tool or as a key element to brand equity. There are still doubts on the theoretical level of Aaker Brand Personality framework even though, many researches gave birth from Aakers brand personality scale. Azoulay and Kapferer (2003) argues that Aakers scale does not measure brand personality, but merge a number of brand identity and include only one part as brand personality in it. Azoulay and Kapferer (2003) further, states that inner values, physical traits and pictures of the typical user are also human characteristics that can be associated with a brand. Therefore he suggests that the definition of brand personality to be changed as the set of human personality traits that are both applicable to and relevant for brands (Azoulay and Kapferer 2003). Further stating that it is evident that, Aaker in her scale has mentioned Western which illustrates as being ethnocentric and biased in her marketing research. If this scale needs to be globally recognized in my view it should not be biased but be unbiased. Taking into consideration of the overall study I find it that Aakers personality framework does not really stand and act as an example for its definition. It has evident flaws in it, but so far compared to the scales presented before Aakers scale can be to a certain extent made use. However, due to these reasons brand personality remains unclear. Brand Loyalty Brand loyalty similar to Brand personality has been explored by many researches but still has not come in to a conclusion of a well established definition. As per (Jacby and Olson, 1970) brand loyalty is defined as the result from non-random, long existence behavioural response, a mental purchase process formed by some certain decision unit who considered more than one brand. According to Jacoby and Kyner (1973) brand loyalty incorporates both an attitudinal and a behavioural aspect to describe consumers overall buying behaviour within a product class. The behavioural aspect refers to the repeat purchase of a brand and the attitudinal aspect refers to the degree of dispositional commitment towards the brand with some unique values, such Page | 9

as perceived quality and relevant brand image. (Jacoby and Chestnut, 1978, p. 80) The (a) biased, (b) behavioural response, (c) expressed over time,(d) by some decision making unit, (e) with respect to one or more alternative brands out of a set of such brands, and (f) is a function of psychological (decision making, evaluating) process. Brand loyalty in marketing results in meaningful marketing gains and minimization of business costs and elevating business leverage (Aaker, 1991) confrontation between the loyal customers to offering of the competitors (Dick and Basu , 1994) and up lifting revenues (Reichheld, 1996). Therefore, the success of a firm depends largely on its capability to attract and retain its current customers as loyal to the brand. A persons attitude has a great control over its buying decision when encountered with social pressure and the intension to purchase a particular product (Cooper and Donald, 2001). The buying decision of a consumer depends upon the belief he/she has about the benefits engaging with the exacting action or behaviour (Peter and Olson, 1996). Brand loyalty can be operationalized either based on behavioural, attitudinal or as a composite approach ( Jacoby & Chestnut, 1978). Prestigious brand names and their styles (Duff, 1999) attract consumers by fulfilling their ego to purchase the brand (Aaker 1996) and also the customers loyalty to a certain brand varies in industries and markets (Quelch and Harding, 1996). In general terms brand loyalty can be described as the repeat purchase of a particular brand by loyal consumers apart from non loyal consumers who more or often switch to competitive brands solely due to price fluctuation (Kayaman and Arasli, 2007). Kotler and Keller (2005) indicates that based on a 20-80 principles, the top 20% of customers may create 80% of profit for a company. Therefore, a longer relationship between an entity and its customers may create more profit and benefits for the entity. Loyal consumers even if there may be rumours spread about the brand will not stomach it but will stick to the original perception they have towards the brand. Gaining consumer loyalty towards a brand is an asset to an organization. Brand loyal customers reduces the marketing cost of a firm since, the cost of attracting a new customer have been found to be about six times higher than the cost of retaining an old one (Rosenberg and Czepiel, 1983). Loyal customers are able to even add and bring in more customers, these further cuts down the cost of the firms expenses as well. Brand loyalty provides no reasons for consumers to engage in finding out facts about the brand they are attached to. Moreover, effective communication is required to motivate the existing loyal customers and new customers to think like and take action to purchase the advertised branded product (Czerniawski and Maloney, 1999). (Ha, 2009) states that satisfaction is a crucial factor of the customer performance and attitude. With regard to this statement companies should treat their customers as friends (Palmer, 2007) and pay attention to customer care (Webb, 1999). The Page | 10

American Association stated that the situation in which a consumer generally pays money for the same manufacturer- originated product or service repeatedly over time rather than buying from multiple suppliers within the category or the degree to which a consumer consistently purchases the same brand within a product class (Moisescu, 2006). In my view while there have been many considerable definitions of brand loyalty no incorporated steps have been taken to measure brand loyalty. However, an agreeable measurement is required to create a correct interpretation for the studies done. An individual is likely to be brand loyal if he / she has a highly favourable attitude towards certain brands. To create brand loyalty it is essential to understand the major factors that influences brand loyalty. Brand name (Aaker, 1996, Cadogan & Foster, 2000; Jacoby and Cestnut 1978), product quality (Palmer, 2007; Webb 1999 ), price (Kayaman and Arasli, 2007) style (Duff, 1999), store environment (Evans et.at, 1996; Milliman, 1982), promotion (Czerniawski and Maloney, 1999; Evans et al.,1996; May 1997) and service quality (Mittal and Lassar 1996).

Chapter III
Conceptual framework
Independent Variable Brand Personality Dimensions Sincerity Ruggedness Excitement Competence Hypothesizes Sophistication BRAND LOYALTY

Dependent Variable

Ho Ha

: Brand Personality Dimensions has no impact on Brand Loyalty : Brand Personality Dimensions has an impact on Brand Loyalty Page | 11

Chapter IV
Methodology
Research approach

As described by Creswell a research is a process of steps used to collect and analyse information to increase ones understanding of an issue or topic. A research is conducted in three direct steps as to pose a question to collect data to answer the question and to present an answer to the question with the gathered data. Generally a research has two methods in finding out facts. In logic the two broad methods of reasoning is called as the inductive and deductive approach. The inductive method compared to the deductive method is more open ended and exploratory in nature, especially in the beginning. The inductive method works the other way, moving from specific observations to broader generelization and theories. This approach is also called the bottom up approach. Further, in the inductive method the research begins with specific observations and measures, beginning to detect patters and regularities formulating some of the hypothesis that can be explored and concluded in developing some general conclusions or theories. In the other hand the deductive method works from being more general to more specific. The deductive method is narrower in nature and is concerned in testing or confirming the developed hypothesis. Similar to the inductive method being called the bottom up method the inductive method is called the top down method. Initially in the deductive method a theory will be thought to narrow down into more specific hypothesis that can be worked out, and thereafter, a research will be carried out to collect data to justify the hypothesis. The current research on a study on brand personality dimensions and brand loyalty towards Cola brands in Sri Lanka is also empirically tested and carried out through the deductive method, or the top down method to have a clear understanding of the hypothesis mentioned.

Research Strategy

Page | 12

Research is about discovering new ideas and further investigating on what is already searched by former researchers. Research helps one to gain insight in whatever chosen area. Research is not a copy and paste job rather it is to gain understanding on the existing information and amalgamating your own findings and drawing your own conclusions to be a finished product. Research strategy, is a plan of action and methodology noted down to put in to action to carry out a research. It gives direction of how to put the collected efforts systematically rather than unsystematically. This way it helps to stay focused and build on the research topic and reduce frustration and bring out a quality product. It also cuts down the time spent on unnecessary data when gathering information for the research. The current study reflecting on study on brand personality dimensions and brand loyalty towards cola brands in Sri Lanka has been maintained and worked through a frame of research strategies to be highly focused on the study. The aim and the objectives have been met in a number of aspects. Such as, the method of how it should be researched, the population and sampling, the volume and substance of the study, the treatment to be applied in carrying out the study, measurements to be made and resources needed was jotted down initially. The study on the research topic was implemented through secondary sources of data and primary sources of data in order to enrich the study with literature review and the research itself. Further, journal articles researched and written in connection to the topic of my research was made use for a rich and valued literature review to increase or make the reader knowledgeable on brand personality and brand loyalty. Apart from that a well framed questioner was presented to the selected participants to get a thorough understanding of how and whether brand personality dimensions has an influence on brand loyalty, taking the local community into count.

Population and Sampling Population and sampling is putting together a precise group of people that possess the same characteristics which can be made use and questioned in the research. This selected group of people should clearly define the target population which is required to achieve expected results in the research. There are two methods of conducting the research that is the probability sampling scheme and the non- probability sampling scheme. A probability sampling scheme is in which the population in whole is taken in to consideration to carry on the research. This method is a costly and time consuming method. The probability sampling scheme has many advantages and disadvantages

Page | 13

in it. This method if followed will produce accurate unbiased data and further enrich the study. Non- probability sampling is the easy way out in a research. This method of population sampling will produce results based on assumptions taking into consideration of the selected population. Therefore the research will be left out of errors since the entire population is not counted in. The current hypothesis is being tested through the non probability sampling scale due to lack of resources and time. In this study a selected group of individuals within the age range of 20 to 50 is made use to gather data to complete the research. This set of individual was selected randomly from a retail store situated in Colombo. Simple random sampling A simple random sample is a sample selected in such a way that every item in a population has an equal opportunity of being included Data Collection Method Data collection is an important factor in doing any research study. Accurate data collection while it can produce accurate results, inaccurate data collection can impact in leading to bring invalid results and the study investigated will be made in vain. The collection of data can be implemented into the research in two ways. That is the quantitative data collection method and the qualitative data collection method. The quantitative data collection method rely on random sampling on a structured questioner. The quantitative data collect results in facts that are easy to summarize, compare and generalize. The quantitative research is also concerned with testing hypotheses mentioned in the project. The quantitative method is more in form of a survey and interview unlike the qualitative method of data collection. In the quantitative data procedure the researcher asks a standard set of questions and nothing more than that (Leedy and Ormrod, 2001) or a paper- pencil questioner is presented to the expected individuals as required in the research. In this manner the time and money of the researcher is saved to engage in the rest of the research. Quality data collection method is a more informative method of collecting data. Qualitative methods can be used to improve the quality of survey based on quantity evaluation. This method of qualitative data collection is a time and resource consuming constrain. Considering the limited time and resources it has been taken into consideration to work this research out through the quantitative data collection method. Therefore, a well framed questioner relating to the research was distributed to obtain opinions Page | 14

from 100 participants both male and female alike within the age of 20 to 50 years. Out of the distributed questioners only 67 questioners were received. After going through its accuracy 2 of it was left out due to it inaccurate result. Finally only 65 questioners were taken into use for the current study.

Limitations of the Study Limitation of study is a crucial factor when it comes to doing a research. When the research is done on a topic or a sample group, the uncontrollables that will affect the quality of the research is the limitations of the study. Limitations of study is the final topic under Methodology of any project. Reading is one of the key aspects when compiling literature review for a research. Reading attempts to absorb the thoughts of the author and to understand what the author is conveying (Leedy 1956). However, due to the time and resource constrains the research is limited in data. The research done on the chosen topic was compiled within a time frame of one month. If there may and have been acceptable and ample time permitted for the research to be conducted the literature review will contain enough and more insight in it. The network being slow and the lack of resources in gaining data was also an additional barrier in searching for more information. The data compiled in this research thoroughly depends on the journal articles taken down from the web. The purpose of the project was somewhat fulfilled with the best of my knowledge and ability. Findings and analysis The questioner contained 15 questions absorbing from Aakers (1997) brand personality scale. Questions arose from the five traits of brand personality (Sincerity, Excitement, Competence Ruggedness and Sophistication). A total number of 43 males and 22 females took part in the survey. The number of individuals according to gender and age is as follows; Gender Male Female Total (20 30 years) 36 12 48 Age (31 40 years) 5 8 13 (41 50 years) 2 2 4

Out of 36 Males in the age ranging of 20 to 30 years, only 30 of them stated that they prefer Coca Cola compared to the other listed carbonated drinks and 6 of them stated Page | 15

that they prefer Pepsi cola. Kik cola and My cola was not any of their choices therefore, it was untouched by that group of individuals. Out of 5 Males in the age ranging of 31 to 45 years, only 2 of them stated that they prefer coca cola the balance 3 stated that they prefer Pepsi cola. Kik cola and My cola same as the above was not any of their choices. Therefore, it was untouched by that group of individuals as well. There were only 2 male remaining in the age ranging of 41 to 50 years, the 2 males stated that they prefer Coca cola. Pepsi cola, Kik cola and My cola was not any of their choices therefore it was untouched by that group of individuals as well. There were 12 females with the age ranging from 20 to 30 years. All 20 of them stated that they prefer Coca cola as their favourite carbonated drink. None of them mentioned anything about the local manufactured carbonated brands such as, Kik cola and My cola. Out of 8 females in the age ranging from 31 to 40, only 6 of them stated that they prefer Coca cola. The balance 2 stated that they prefer Pepsi cola. Kik cola and My cola was not preferred by them as well. There were only 2 females remaining in the age ranging from 41 to 50 years, the 2 females stated that they prefer Pepsi cola. Coca cola, Kik cola and My cola was not their choice of preference. Therefore it was untouched by that group of individuals as well. In terms of Aakres brand personality scale in general male and females away from gender under 20 to 30 years of age who prefer Coca cola stated that they strongly agree that Coca cola is a reputable, unique, has an attractive colour, could be purchased at any of the retail stores and the advertisements of the brands are also attractive. This age group is highly influenced of the brand and are brand loyal. The males and female in the age range of 31 to 50 years stated that Coca cola is their favourite brand. But even though they prefer it similar to the age group of males and females of the age of 20 to 30, this group prefers the brand simply for the taste and the colour of the drink. Advertisement of the brand does not attract them at all. The female and the males who prefer Pepsi cola at this age stated that they do not strongly agree that Pepsi cola is a reputable brand. But they prefer it because of the taste and colour. They also mentioned that they neither agree nor disagree on the posted advertisements. Males and female with age ranging from 41 to 50 years who prefer Coca cola and Pepsi cola shared the same view same as the age group of 31 to 40 year.

Page | 16

Chapter V
Conclusion
Taking all results of research in to consideration, it is evident that Coca cola is the most preferred brand in the minds of the young consumers exclusively. Pesi cola is the second preferred brand after coca cola and the other local carbonated drinks has no chance in the carbonated beverage industry in Sri Lanka. According to reports Coca colas revenue is US$11.14 billion and is the market leader in the carbonated beverage industry in the world. It was hypothesized that Coca cola shows significant greater first choice preference among the carbonated brands in Sri Lanka as well.

Through this research the hypothesis is tested as to say that brand personality plays a role in terms of brand loyalty to a certain extent. Sincerity, Excitement, Competency and Sophistication are points that influences brand loyalty in terms of research done Page | 17

on Cola brands. Brand personality not only plays a crucial role in customer retention but also has profound influence on a companys performance. A successful brand requires an innovative personality (Doyle, 1990; Kumar et al., 2000). The relationship between satisfaction and loyalty seems almost intuitive, and several researches have attempted to confirm this (Cronin & Taylor, 1992; Newman & Werbel, 1973; Woodside, Frey & Daley, 1989). Brand loyalty in consumer context is well researched (Ajzen & Fishbein, 1991; Baldinger and Rubinson, 1996; Day, 1969; East and Hammond, 1996, Ehrenberg, 1998; Guest, 1942; Jacoby, 1971; Oliver, 1999).

Chapter VI
Recommendation

The success of a firm depends largely on its capability to attract consumers towards its brand and to keep its customers loyal to the brand. Brand loyal customers no matter what the consequence is, is attached and loyal to its brand. Brand loyal customers will no means change the impression they have with regard to the brand they have faith in. Consumer buying behaviour is typically influenced by the set of beliefs and the attitudes the consumer has with regard to the brand and its benefits. Brand Loyalty often refers to the repeat purchase (Jacoby and Chestnut, 1978; Oliver, 1999) and brand personality assists the firm in creating brand loyalty. Likability, persuasiveness and brand personality influence the buying behaviour of a consumer but eventually lead towards brands loyalty through effective advertising generating and retaining a huge loyal customer base.

Organizations should constantly increase their level of innovativeness and be sensitive to customer care. Organizations should also introduce a rewards scheme to loyal customers. This keeps customers interested and have high regards towards the brand. The management should also have easy accessible facilities for the reach of the customers in all possible locations, this helps customers to purchase the product more frequently. Product quality should also be highly maintained so that it will not lose interest of the consumers. Packaging of products should be neat and hygiene, the product of the brand should be very well in good condition and should also be safely stored. Brand managers should aim always for customer satisfaction if they want their brand to be number one in the market produce high revenue.

Page | 18