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An Overview on Local and Global Branded Products for Knit Apparels in Bangladesh and Their Effect on Consumer Behavior Toukir Ahmed Hridoy, Md

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An Overview on Local and Global Branded Products for Knit Apparels in Bangladesh and Their Effect on Consumer Behavior Toukir Ahmed Hridoy, Md International Journal of Scientific Research and Management (IJSRM) ||Volume||07||Issue||02||Pages||EC-2019-196-222||2019|| Website: www.ijsrm.in ISSN (e): 2321-3418 Index Copernicus value (2015): 57.47, (2016):93.67, DOI: 10.18535/ijsrm/v7i2.ec02 An Overview on Local and Global Branded Products for Knit Apparels in Bangladesh and their effect on consumer behavior Toukir Ahmed Hridoy, Md. Mazbah Uddin, Mashiur Rupak, Md. Abdullah Al Hossain, Tanvir Mahady Dip, Md. Faisal Ahmed 1, 2,3,4,5 Bangladesh University of Textiles, 92, Shaheed Tajuddin Ahmed Avenue, Tejgaon Industrial Area, Dhaka 1208 6Ahsanullah University of Science and Technology, 141 & 142, Love Road, Tejgaon Industrial Area, Dhaka Abstract: The project mainly deals with detailed study on export oriented & local knit brands & their products, while taking account of various aspects such as – product type, age group, construction of fabric, fabric sourcing, fabric supplier, fabric cost, FOB cost of garments, accessories sourcing & some activities towards sustainability of brands. In this project samples are collected randomly from the merchandising departments of different company & buying houses. Brands are selected in convenient method. We also selected some renowned local brand randomly. Quantitative data & qualitative data are collected through some questionnaires & then they are analyzed. The export oriented brands are selected for the study from North America, South America & Europe region. The result visualizes the picture of detailed study on export oriented & local knit brands & some drawbacks of our local brand has been discovered with some recommendation of appropriate solutions. A detailed survey was also conducted to find out how different aspects of the brands affect consumer behavior. Keywords: Brand & Branding, Consumer & Brand, Knitting, Export, Global & Local Brands, Market Offerings, Stores Distribution, Unit Price, Sustainability, Sourcing, SWOT, Geography of Brands. Globalization in Bangladesh broadly started with Introduction changing political plot in 1975. After the political Globalization is the principal and most favorite plot, government withdrew from his predecessors' slogan of brands and businesses around the world. affinity with the Soviet bloc, developing closer Globalization involves economic integration of relations with the United States, Western Europe, countries. “Globalization can thus be defined as Africa, the Middle East, the People's Republic of the intensification of worldwide social relations China and other Islamic nations. Bangladesh which link distant localities in such a way that opened for world and the process of privatization local happenings are shaped by events occurring started after 1975. The RMG industry in many miles away and vice versa” (1). Retail Bangladesh has developed from outside pressure markets in developed countries such as the United rather than emerging to meet local demands. The States and Western Europe have already reached a increasing wages in the clothing producing maturity stage, characterized by a slow population countries paved the way to establish RMG and market saturation and less space left for new industry in Bangladesh, as the countries started developments. Although consumers in developing looking for low-wage situation of factories. The countries is not highly familiar with global brands industry is the most prominent export oriented before the brands actually enter the market, they industry of the country which has achieved very tend to become more loyal towards global brands significant growth during last 25 years. compared to local brands because of perception of Bangladesh is the second largest garment exporter better quality. (2) in the world. In the year 2016 Bangladesh‟s RMG Toukir Ahmed Hridoy, IJSRM Volume 7 Issue 2 February 2019 [www.ijsrm.in] EC-2019-196 export was 28.668 billion USD. It is one of the Globalization gave rise to various brands, biggest pillars of the economy. Government has internationalization of brands has started as more set a goal to achieve 50 billion exports by and more countries opened up their economies. 2021.Some experts predicted that Bangladesh will Brands are associated with consumer attitude; in a export double in the next 10 years. foreign country, this attribute plays an important role to decide the success of a certain brand. 1.1 Background of the Study Future studies can reflect on broader study of People of Bangladesh used to have more of a different regions and detailed analysis of traditional preference for selecting their attire. For consumers. (3) example, men wore Lungi, Panjabi, t-shirt, and Shirt and women wore Shari. With the passage of 1.2 Objectives: time, people are more interested to wear • Learning about export oriented knit products. readymade dresses, particularly branded products. • Learning about the specifications of these By the mid 2000‟s, purchase habit of customers products. started changing gradually, because of increasing • Learning about the sourcing of the materials for urbanization, and changes in the social and these products. economic status, personality and life styles. Many • Learning about local brands & their products. local apparel products brands such as Cat's Eye, • Learning about present condition of local knit Yellow, Westecs, Artisti, Aarong, Kay Kraft, products. Richman, Dorjibari, Anjans, Ecstasy, Plus point, • Knit products of Bangladesh- opportunities, Rex, Artiness etc. are trying to expand their challenges. clothing business to satisfy the local customers‟ demand of clothing. Literature Review However Bangladeshi local apparel brands are not 2.1 Branding Theory yet ready to compete with the international brand. There are brands and logos present all around us. To comprehend the reasons behind this some Branding has proven to be an essential strategy for examples may be stated, such as lack of apt marketing even in noncommercial organizations fashion designers, insufficient capital, improper like political outfits and charities. It can be planning, inaccurate consumer forecasting etc. utilized for enhancing the profitability of actors, Most of the Bangladeshi Clothing industries are sports personalities, celebrities and also cities (4). export oriented. A very few clothing industries Branding is considered as a separate industry aim to serve the local market and fulfill which acts as a key mechanism to enable the consumers‟ needs and wants. But as the time goes smooth functioning of a market-oriented the consumer started to think about more complex economy. Some brands of specific countries are colors and design clothing, as a result complex considered superior to others in countries which buying behavior started which makes the fashion raised the question of effect on homogenization of forecaster to think about new fashion brands and culture but the brands help create a working design. In this project we tried to discuss about identity for a product influencing consumers‟ some of Export oriented knit products of purchase intention. Brand and advertising walks in recognized global brands as well as some knit continuum with each other creating a composite products from recognized local brands. industrial environment; this continued focus on This research study involves global and local knit advertising has given rise to a functioning cultural apparel products. Each brand‟s products have been economy at the expense of other forms of analyzed by some specific product parameters. promotion. Branding converts a certain Perceived quality and emotional value are the two commodity into a self-promotional form which major dimensions of brand-specific association as creates an insatiable desire among consumers who they form critical factors in product perception. want to procure it. Before delving into further Emotional value in respect to global brands can be discussion about brands and how they help to defined as the amount of value that relates to generate revenue for brands and corporations, we consumers‟ feeling for a certain brand (Sheth, should understand the proper definitions. Newman & Gross, 1991; Barnes & Mattsson, 2008). 2.2 Definition of Brand and Branding Toukir Ahmed Hridoy, IJSRM Volume 7 Issue 2 February 2019 [www.ijsrm.in] EC-2019-197 A brand is a name, term, design, symbol, or any identity approach, the consumer-based approach, other feature that identifies one seller's good or the personality approach, the relational approach, service as distinct from those of other sellers. The the community approach and the cultural word "brand" is derived from the Old Norse brand approach. meaning "to burn” which refers to the practice of producers burning their mark (or brand) onto their 2.5 Attachment of Brands to Consumers products. The concept of brands is not new but Holding onto a consumer base has never been easy comparatively branding a brand is a product in a foreign market for a global brand in the derived from the start of modern globalization at presence of millions of local brands. For example, the end of the Cold War. It was actually during the nowadays within a five-minute walk in majority of 1990s, that a previously essential set of practices – cities or towns, we can find at least five retail product design, retail design, point-of purchase outlets selling similar merchandise each marketing came together to be known as branding. competing for space and attracting for more customer patronage. Corporations have spent 2.3 Advantages of Branding billions of dollars trying to make consumers
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