Measuring Customer-Based Brand Equity: Empirical Evidence

from the Cadila Pvt Ltd

SUMMER INTERNSHIP PROJECT REPORT

Submitted Towards Partial Fulfilment Of

Post Graduate Diploma in Management

Academic Session

2020-22

Submitted by Submitted to

Name:- Apurva Singh Dr. Nitin Kr Saxena

Associate Professor
Roll no:- 2002016

Batch 2020-22
 Declaration of the Student

This is to declare that I, Mr. /Mrs. Apurva Singh student of PGDM from
Jaipuria School of Business, Indirapuram, Ghaziabad has successfully
completed Summer Training Program for a period of 7 Weeks with CADILA
PHARMACEUTICALS Ltd from 12thApril to 12th September, under the
supervision of Mr. Johnson Mathew, CHRO and Dr. Nitin Kr Saxena.

This research is my original work and it has not been submitted elsewhere for
the award of any degree/diploma.

Student Signature

StudentName Apurva Singh

RollNumber 2002016
 Certificate from the Institute

This is Certify that Mr. / Mrs Apurva Singh , student of PGDM from
Jaipuria School of Business, Indirapuram, Ghaziabad has successfully
completed Summer Training Programme for a period of 10 Weeks with Cadila
Pharmaceuticals Ltd. Under my supervision Mr. Johnson Mathew, CHRO
and Dr. Nitin KrSaxena
The title of the study is “Measuring customer –Based Brand Equity: Empirical
Evidence from the Cadila Industry”

This research report is an authentic work carried by

Apurva Singh roll no. 2002016

Dr. Nitin Kr Saxena

Associate professor

iv
 Acknowledgement

The successful completion of the project can be largely attributed to

numerous person with whom I had honoured privilege of being associated
during project work. Firstly, I owe sincere thanks to my supervisor Mr.
Johnson Mathew, CHRO to undertake the study and represent them in this
report.

It is a great pleasure to have gotten this opportunity for the preparation of this
project. I am highly obliged to grateful to Jaipuria School of Business forhaving
the foresight to envision such an incredible learning experience and thus
deciding to provide us with one.
I owe profound gratitude to faculty of Jaipuria School of Business. I owe special
gratitude to Dr. Nitin Kr Saxena for his constant support, motivation during
internship period.
Might be last but surely not the least, all words of praise fall sort and express
themselves gratitude with full heart and soul to my parents and friends for their
never-ending support and fluidity in encouragement.

Apurva Singh

v
 Executive Summary

ABOUT THE COMPANY

(CADILA PHARMACEUTICALS LTD), This organization named as the largest private

organization serving in pharma sector. It has been serving its customers with affordable
medicines since last six decades. The company’s investment in Research and Development
and its tremendous innovation made countless strong record and has produced medical
miracles that reports that many of its patients and customers has received profound impact in
reallife.Beingacare-focusedcompanyanditscontributiontowardsethicalstandardinclinical
research has built a strong public.

The vision of the company is quiet simple but gives a strong message which basically
simplifies to be the leading private sector pharma company who is ready to serve its
customers with affordable, high quality and innovative solutions in medicine and treatment.
The company aims to develop, discover and successfully introduced its pharmaceutical
products to its customers to prevent, diagnose and cure diseases. It has also mentioned that-
customer satisfaction will be its prime factor through which they also aimed at achieving its
leadership position in its chosen market, products and services across the globe.
The Company’s purpose is to underpin every single thing they do. It basically motivates them
to ensure that they provide positive impact in the society. This helps them to deliver startling
benefits to patients and create value for their shareholders. Cadila is one of the top Active
Pharmaceuticals Ingredient (API) manufacturing companies in the world, and one of the few
pharmaceutical companies that is vertically-integrated with a very vigorous and independent
situating in both the API and the Formulations markets. Spread over 80,000 sq. meter area,
our API manufacturing facility at Ankleshwar, Gujarat is ecumenically accredited by USFDA,
ISO 9001:2008, COFEPRIS, PMDA Japan, EDQM Europe, TGA Australia, WHO Geneva,
etc. Cadila has its own Contract Research Operation (CRO) business unit at Dholka in
Ahmedabad, Gujarat. The CRO offers a series of pre-clinical and clinical tribulations for drug
development that cover over 45 therapeutic categories, namely cardiovascular,
gastrointestinal, analgesics, haematinics, anti-infectives, antibiotics, respiratory, anti-
diabetics, and immunologicals. It is a one-stop destination for managing all contract research
activities, ranging from pre-clinical, BA-BE to Phase II to Phase IV tribulations. Our CRO is
a Center of Excellence (CoE) where we expedite our clients’ drug development process with
our in-house aptitude and world-class resources. Till date, we have conducted over 1000 pre-
clinical studies, 390 BA-BE studies and 28 clinical tribulations.

vi
 ABOUT THE STUDY

(Detailed study on Measuring customer –Based Brand Equity: Empirical Evidence

from the Cadila Industry)
INTRODUCTION. Brand equity, in marketing, is the worth of a brand in and of itself —
i.e., the social value of a well-known brand name. The owner of a well-known brand name
can generate more revenue simply from brand recognition, as consumers perceive the
products of well-known brands as better than those of lesser-known brands.
RESEARCH METHODOLODY-
The Study was both descriptive as well as quantitative. This means that graphs, table or
numerical calculations is done to summarize and present the data in an efficient manner.
Descriptive research gives meaning to the quality and relevance of the study. The data in this
study is collected by both primary method as well as secondary method. The technique used
in this study is randon-sampling method which signifies that- the sample is being randomly
collected from the population. The size of the sample is 50respondents.

TOOLS USED IN THIS STUDY-

Data was collected in the form of questionnaire where, several types of questions were
added in order to get the appropriate result.

Objectives Of The Study

1. To understand the element of customer based brand equity model.

2. To understand the brand equity to analyse various attributed contributing to the
formation of CBBE.

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 Table of Content

S.No. Title Page No.

Declaration
1 2

Certificate from company

2 3

Certificate from institute

3 4

Acknowledgment
4 5

Executive summary
5 6

Lists of Contents
6 8

Lists Of Tables
7 9

Lists of Graph/Images
8 10

Industry And Organization Profile

9 12

Introduction of the Project

10 22

Literature Review
11 35

Research Methodology
12 39

Results And Interpretations

13 42

Conclusions & Suggestions

14 57

Bibliography
15 69

Annexure
16 71

viii
 LIST OF TABLES & IMAGES /FIGURES

Sr.No. Charts/figure Page No.

1. Demographic profile 42

2. Gender of the Respondent 43

3. Education of the Respondent 44

4. Graphic design, symbol and logo 45

5. Information zydus cadila gives 46

6. Zydus cadila symbol of honesty and safety . 47

7. Idea of zydus product reliable 48

8. Effective in providing health products 49

9. Society health improvement 50

10. First famous product crossing ,mind 51

11. Knowledge about its products 52

12. Favorable and distinct as compared to other brands 53

13. First brand cross mind 54

14. Full satisfaction from products 55

15. Good response about the request 56

16 Good background service 56

17 Products more qualitative 57

18 Product performance unique 57

19 Worth the cost 58

20 More credit and social reputation 58

21 Comfort while using 59

22 Effect in providing health 59

products
23 Use only cadila products 60
24 Only use this brand 60
25 Feel closeness with other brand 61
 Chapter 1
Industry & Organization Profile
Indian Pharmaceutical Industry

A.Brief of Industry

India is the most sizably voluminous provider of generic drugs ecumenically. Indian pharmaceutical
sector industry supplies over 50 per cent of ecumenical demand for sundry vaccines, 40 per cent of
generic demand in the US and 25 per cent of all medicine in UK. India relishes a paramount position in
the ecumenical pharmaceuticals sector. The country additionally has an immensely colossal pool of
scientists and engineers who have the potential to steer the industry ahead to an even higher calibre.

Presently over 80 per cent of the antiretroviral drugs used ecumenically to combat AVAILS (Acquired
Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms. Indian drugs are exported
to more than 200 countries in the world, with US being the key market. Generic drugs account for 20 per
cent of the ecumenical export in terms of volume, making the country the most sizably voluminous
provider of generic medicines ecumenically.

It is expected to expand even further in the coming years. Pharmaceutical export from India, which
include bulk drugs, intermediates, drug formulations, biologicals, Ayush & herbal products and surgical
reached US$ 13.69 billion in FY20 (till January 2020). The export is expected to reach US$ 20 billion
by 2020.

• Medical contrivances industry in India has been growing 15.2 per cent annually and is expected to
reach US$ 8.16 billion by 2020 and US$ 25 billion by2025.

• Affordable medicines under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) achieved
arecordsalesturnoverof₹52crores(US$7.38million) in the month of April 2020.

“India plans to establish a proximately ₹1 lakh crore (US$ 1.3 billion) fund to provide boost to
companies to manufacture pharmaceutical ingredients domestically by 2023.
 a) Attractiveness of the Industry

Market size:

Indian pharmaceutical sector is expected to grow to US$ 100 billion and medical contrivance market
expected to grow US$ 25 billion by 2025. Pharmaceuticals exports from India stood at US$ 19.14 billion in
FY19 and US$ 13.69 billion in FY20 (up to January 2020). Pharmaceutical exports include bulk drugs,
intermediates, drug formulations, biologicals, Ayush & herbal products and Surgical.

 Indian companies received 304 Abbreviated Incipient Drug Application (ANDA) approbations from
the US Pabulum and Drug Administration (USFDA) in 2017 and received a total of 415 product
approbations in 2018 and 73 tentative approbations. The country accounts for around 30 per cent (by
volume) and about 10 per cent (value) in the US$ 70-80 billion US generics market.
 India's biotechnology industry comprising biopharmaceuticals, bio-accommodations, bio-
agriculture, bio-industry and bioinformatics is expected grow at an average magnification rate of
around 30 per cent a year and reach US$ 100 billion by2025.
 India’s domestic pharmaceutical market turnover reached ₹1.4 lakh crore (US$ 20.03 billion)
in2019, growing 9.8 per cent year-on-year (in₹) from ₹129,015 crores (US$
18.12 billion) in 2018.

 Health indemnification is gaining momentum in India. Gross direct premium in come

underwritten byhealthindemnificationgrewat14.70percenty-o-y to ₹42,328.18 crores
(US$6.06billion) in FY20 up to January2020

2
 Fig 1.1

Investment
The Coalescence Cabinet has given its nod for the amendment of the subsisting Peregrine Direct
Investment (FDI) policy in the pharmaceutical sector in order to sanction FDI up to 100 per cent under the
automatic route for manufacturing of medical contrivances subject to certain conditions.

The drugs and pharmaceuticals sector magnetized cumulative FDI inflows worth US$ 16.25 billion between
April 2000 and June 2019, according to data relinquished by the Department for Promotion of Industry and
Internal Trade (DPIIT).

 In October 2019, Telangana regime proposed Hyderabad Pharma City with financial assistance from
Central regime of Rs 3,418 crore (US$ 489million).
 As on August 2019, the moving annual turnover (MAT) for biosimilar molecules sold in
the domestic market stood at Rs 1,498 crore (US$ 214.31million).
 HealthcaresectorwitnessedprivateequityoftotalUS$1.1billionwith27dealsinfirstamoietyof 2019.
 The exports of Indian pharmaceutical industry to the US will get a boost, as branded drugs worth
US$ 55 billion will become off-patent during2017-2019.

Road Ahead:

Medicine spending in India is projected to grow 9-12 per cent over the next five years, leading
India to become one of the top 10 countries in terms of medicine spending.

Going forward, better magnification in domestic sales would withal depend on the facility of
companies to align their product portfolio towards chronic therapies for diseases such as such as
cardiovascular, anti-diabetes, anti-depressants and anti-cancers that are on the ascension.

The Indian regime has taken many steps to minimize costs and bring down healthcare expenses.
Expeditious prelude of generic drugs into the market has remained in focus and is expected to benefit the
Indian pharmaceutical companies. In integration, the thrust on rural health programmes, lifesaving drugs and
preventive vaccines additionally augurs well for the pharmaceutical companies.

3
A. Company I haveworkedwith

Cadila Pharmaceutical Ltd.

Cadila Pharmaceuticals Ltd. is one of the most sizably voluminous privately-held pharmaceutical companies
in India. Over the past six decenniums, we have been developing and manufacturing affordable medicines
for patients around theworld.

Our innovation-led drug revelation processes ascertain the health and salubrity of people around the world.
Our enhanced investment in innovation and a vigorous track record in research and development have
engendered medical miracles that have transmuted lives and made a profound impact on authentic life. Being
a care-focused, research-driven company, we are committed to complying with the highest ethical standard
in clinical research and medical practice. We opiate to be valued not only for our pharmaceutical products
but withal for the way we conduct our research and businessactivities.

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 Fig. 1.2

We lead our industry in demonstrating the application of cutting-edge research to ethical business practices
in engendering the alchemy of optimum health outcomes for all. Cadila Pharmaceuticals is a multinational
research predicated pharmaceutical group in India with more than 6 decenniums ofexperience.

Company's integrated operations covers entire gamut from manufacturing products ranging from API's-
Intermediates, culminated formulations, OTC-Victuals Supplements, Biotechnology Products and
pharmaceutical Machinery. Cadila Pharmaceuticals manufacturing facilities are approved by most stringent
International bodies like WHO-GMP, UK-MHRA, USFDA-API, TGA-Australia, and AIFA-Italy.
International operation of Cadila Pharmaceuticals is spread across 58 countries including Americas, Japan,
Asia, CIS and Africa.

Vision: -

The vision of the company is quiet simple but gives a vigorous message which rudiment ally simplifies to be
the leading private sector pharma company who is yare to accommodate its customers with affordable, high
quality and innovative solutions in medicine and treatment.

Mission: -

 To discover, develop and prosperously market pharmaceutical products to avert, diagnose, alleviate
and remedydiseases.
 To provide total customer contentment and achieve leadership in culled markets, products and
accommodations across the globe, through excellence in technology, predicated on world-class
research anddevelopment.
 We are responsible to the society. We shall be good corporate denizens and will be driven by high
ethical standards in ourpractices.

5
 ATTRACTIVENESS OF THE INDUSTRY

 Applying Science toCause

In the course of their activities and the objective of achieving its goals, the company ascertains that at the
cessation of the day, their work benefits their patients. They subsist to facilitate out their suffering, remedy
what can be remedied, manage their diseases and ameliorate their quality of life.

 Distributing AffordableMedicines

With the motive to make medicines accessible to all Indians at an affordable cost, Cadila plays a crucial role
by formulating drugs in India. This mission has grown wings and today the company is catering to the
healthcare desiderata of over 85 countries all over the world.

 Research to DefeatDiseases

The Company’s department of research and development rudimentally fixates on finding remedies to
involute diseases. This goal is their integral part of achieving prosperity in research and development.

 Intrapreneurial

As we ken that, culture of a particular company plays a vital role. So Cadila being irate in its values which
guides them to take upstanding decision and defines their notions and foster a vigorous
INTRAPRENEURIAL culture at Cadila.

B. Analysing 3C’s
• This is an industry model which betokens the organizations prosperity. This was introduced by Japanese
Organizational Theorist by Kenichi Ohmae. This model includes three main rudimentary elements so that
business strategies can be framed gracefully. The three main elementsare-

6
 Fig. 1.3

CUSTOMER

The primary goal of any business organization is supposed to be the interest of the customer. So, in the long
run, if the company wants to grow expeditiously the company should genuinely have intrigued with its
customers. And through this investor will take care of their intrigues automatically.

COMPETITOR

Analysing Competitors vigor or impuissances would avail our company to ken its own imperfections and
how to surmount those imperfections through different strategies.

CORPORATION

well analysing customers and competitors and the strategies to be applied in both the section has made the
industry more vigorous. This would avail us to rectify our past mistakes and identify different opportunities
for our present and future.

ANALYSING CADILLA’S 3 C ANALYSIS

COMPETITORS-

 SunPharma

Sun Pharma is the most immensely colossal pharmaceutical company from India and the fifth most
immensely colossal specialty generic company in the world. The company manufactures and markets an
astronomically immense basket of pharmaceutical formulations covering a

7
broad spectrum of chronic and acute therapies. It includes generics, branded generics, involute or arduous to
make technology intensive products over the counter products (OTC), Active Pharmaceutical Ingredientsand
intermediates in the gamut of dosage forms. The product caters to an astronomical range of therapeutic
segments. Sun Pharmaceutical Industries Ltd. was incorporated in1983.

Fig. 1.4

It additionally engenders specialty APIs. In FY19, US formulations contributed the most to company’s sales
with 37 per cent, followed by India branded formulations at 26 per cent.

Sun Pharma promulgated the launch of a branded ophthalmic product BromSite 0.075% in the US market. It
was the first branded product launched by the company in the USA following its fixate on Specialty
Business.

Sun Pharma was listed on the stock exchange in 1994 in an issue oversubscribed 55 times. The founding
family perpetuates to hold a majority stake in the company. Today Sun Pharma is the second most
immensely colossal and the most remuneratively lucrative pharmaceutical company in India, as well as the
most astronomically immense pharmaceutical company by market capitalization on the Indianexchanges.

 Dr. Reddy’sLaboratories

The company was established in Hyderabad. The company was established by Dr Anji Reddy. In the year
1986, the company shares were listed on the Bombay stock exchange. Reddy's had seven FDA plants
engendering active pharmaceutical ingredients in India.

8
 Fig.1.5

It is first pharmaceutical company in Asia, outside Japan, to be listed on the NYSE. It is most sizably
voluminous player in the custom pharmaceutical accommodations business in India. an accommodation
predicated specialty pharmaceutical company A bellwether in its domestic market, the company is withal
active on the international scene, which accounted for 64 percent of the company's total sales of Rs 18 billion
in2003.Thetransmutationoflaw andtheascensionofincipientopportunitiesinthepharmaceuticalindustry,
however, emboldened him to establish his own business, and in the mid-1970s, Reddy founded a company
for engendering and selling bulk actives--the rudimentary ingredients of drug compounds--to pharmaceutical
manufacturers.

 Lupin

isperceivedasoneofDr.Reddy’smostastronomicallyimmenserivals.Lupinwasfounded in1968,andis
headquartered in Mumbai, Maharashtra. Lupin is in the Pharmaceuticals field. Lupin engenders $129.7M
less revenue vs. Dr.Reddy’s.

Fig.1.6

Lupin Ltd is a leading pharmaceutical company from India and is amongst the top 10 generic companies in
the world. It commenced its business in 1968 and over the years has become one of the most sizably
voluminous pharmaceutical companies in India and the world. Its businesses include formulations, Active
Pharmaceutical Ingredients (API), drug distribution systems and biotechnology. Its most sizably voluminous
market is the North American region

9
which contributed 38 per cent of its revenues in FY18, followed by India with 26 per cent and Asia-Pacific
(APAC) with 17 per cent. In FY19, its total sales reached Rs 16,369.4 crore (US$
2.34 billion) and in H1FY20 reached Rs 8,652.7 crore (US$ 1.24 billion).

 Cipla

is a top competitor of Dr. Reddy’s? Cipla is a Public company that was founded in 1935 in Mumbai,
Maharashtra. Cipla competes in the Pharmaceuticals industry. Compared to Dr. Reddy’s, Cipla has 4,544
more employees.

Fig.1.7

Cipla is a leading pharmaceutical from India with presence across the world. It was established in 1935 as
Chemical Industrial & Pharmaceutical Laboratories Ltd and transmuted to its current name in 1984. The
company has an astronomical portfolio with more than 1,500 products in the market. The company’s
business is divided into three strategic units - Active Pharmaceutical Ingredients (API), Respiratory and
Cipla EcumenicalAccess.

Its most immensely colossal market is India which contributed 39 per cent to its revenues in FY18, followed
by Africa and North America with contribution of 22 per cent and 17 per cent, respectively. In FY19, total
revenue of the company reached Rs 16,362 crore (US$ 2.36 billion) and stood at Rs 12,755.80 crore (US$
1.83 billion) in 9MFY20

 RanbaxyLaboratories

was established in 1961. It is a research-predicated international pharmaceutical company accommodating

customers in over 150 countries and has experience of more than 50 years in providing high quality,
affordable medicines trusted by healthcare professionals and patients.

Fig. 1.8

1
Ranbaxy is a member of the Daiichi Sankyo Group which is a leading ecumenical pharma innovator,
headquartered in Tokyo, Japan.

Ranbaxy has operations in 43 countries and 21 manufacturing facilities spread across eight countries. The
company covers all the top 25 pharmaceutical markets of the world and has a robust presence across both
developed and emerging markets. Driven by innovation and through their perpetuated fixate on research &
development (R&D), Ranbaxy has achieved several regulatory approbations in both developed and emerging
markets.

 Company:

forces

Mix

Fig. 1.9

SWOT ANALYSIS
strength: -

1. USFDA approved plant for clinicaltrials

2. Sole manufacturer in Indian of Streptokinase and Hyaluronic Acid-basedproducts
3. Caters to over 45 therapeutic areas and has presence in over 90countries
4. Cadila has acquired Bio-Chem which is major player in anti-infective segment in domesticmarket

Weakness: -

1. Tough competition means the market share islimited.

2. Weak international presence compared to a few internationalsbrands.

1
Opportunities: -

1. Large penetration strategies in the therapeutic market to increase the marketshare.

2. Increasing prevalence of chronic diseases such as diabetes,cancer
3. Penetration of MedicalInsurance

Threats: -

1. Debt in the foreign currency and weak rupee may causeMTM

2. Economic fluctuations and emergence of globalplayers
3. Govt. policies andrestrictions

Porter’s Five forces model

1. Threat of New Entrants:-

The threat of new entrant is low to moderate based on the following factors:

 It has become very important for the pharmaceutical companies to focus on research and
development to sustain their position inmarket.
 The new business technique includes contract research (drug discovery and clinical trials), contract
manufacturing and co-marketingalliance.
 patentexpiryisoneofthereasonswhichisofferingopportunitiesforlowercostgenericmanufacturer in
terms of greater marketaccess
 It is creating pressure on the authority to allow early introduction of low-cost drugs in themarket.
This, in turn, poses a big opportunity for pharmaceutical companies
with approved facility and sound knowledge of regulatory issues.

Therefore, all these factors are responsible for the high threat from a new entrant.

1
2. Threat of Substitutes:-

The threat of substitute ranges from moderate to high.

 The demand for generic drugs compared to branded drug has increased because of cost. Generic
manufacturers do not incur the high cost involved in research and development and regulatory
activities such as FDA approval and clinicaltrials.
 These are the reason’s; they can offer their product at cheaper price. This increases the threat of
substitutes.

3. Bargaining Power of Buyers:-

 End consumers do not have bargainingpower.
 Brand identity exists but is in the hands of Influencer(Doctors)
 Price sensitivity islow.
 The buyer is different from influencer who is adoctor.
 Theconsumerhasnooptionbuttobuydrugasprescribedbyphysician.Therefore,thebargaining power
of patient is verylow

4. Bargaining Power of Suppliers:-

 The bargaining power of suppliers in market is low. Pharmaceutical products require various types of
organic chemical. There are a number of chemical suppliers present in the market. Instead of buying
chemicals at the high cost, pharma companies canswitch from one company toother.
 Numerous suppliers-switching costlow
 Suppliers can go for forwardintegration
 Raw material cost constitutes more than 50% of the totalexpenses.

1
 5. The Intensity of the CompetitiveRivalry:

 Highly competitive;
 Top five players have mere 18% of marketshare
 Lower fixed cost and High workingcapital
 the presence of a number of large and small firm this market ishighlycompetitive.

MARKETING MIX: CadilaPharmaceuticals

The 4Ps of the marketing commix are Product, Price, Place, and Promotion. The marketing commix of
Cadila Pharmaceuticals is described asbelow:

1. Product:
Cadila Pharmaceuticals has a wide variety of products. Their extensive range of culminated dosage
formulations covers every aspect of human life. Their basket of formulations contains more than 850
products in several forms belonging to 45 therapeutic segments and 12 specialties including cardiovascular,
gastrointestinal, analgesics, haematinics, anti-infectives and antibiotics, respiratory agents, antidiabetics,
immunological, and oncology.
Their basket of formulations contains more than 850 products in several forms
belonging to 45 therapeutic segments and 12 specialties including cardiovascular, gastrointestinal,
analgesics, haematinics, anti-infectives and antibiotics, respiratory agents, antidiabetics, immunological, and
oncology. Cadila Pharmaceuticals is the only Indian manufacturer of natural Streptokinase and Hyaluronic
Acid products. The company was additionally the first in the world to introduce Rabeprazole in IV form –
‘Rabeloc’. In 2009, the world’s first Boosted-Rifampicin fine-tuned-dose coalescence for the treatment of
Tuberculosis – ‘Risorine’

2. Place:
Cadila Pharmaceuticals is present in all regulated markets of the USA, Europe and Japan, and Africa. With
strategic collaborations and operations in over 100 countries, Cadila has amulticultural, multilingual and
multinational workforce of more than 9000 employees including over two hundred people outside India in
Africa, CIS, Japan and USA.
International operation of Cadila is spread across 58 countries including Cumulated States,
Japan, Asia, CIS and Africa. Its distribution policy for ecumenical companies includes tie-ups with other
proficient companies so that it can capitalize on their distribution system. The company has manufacturing
facilities across 7 states in India. The company withal has several research and development units for
development of incipient and subsisting drugs.

1
3. Price:
Cadila Pharmaceuticals is the leading health-care company in India and its aim is to provide access to high-
quality medicines at affordable rates. In order to meet the desiderata of its patients, it has decided to keep an
economic and plausible pricing policy. Its aim is to make life-preserving drugs accessible to every needy
patient and ergo for those drugs it has kept a minimum pricing policy. Its efforts have truncated the prices of
several vital drugs in the market. For products that are exported it has maintained a competitive pricing
policy, so that it can prosperously compete with its competitors.

4. Promotion:
Cadila Pharmaceuticals has undertaken sundry promotional activities to market its products. Its tagline is The
Caring Perpetuates and this has become its mission and hence this conception has been incorporated in its
employees, processesandproducts.Inordertomakeadifference,thecompanycontributestosocietythrough themes
like edification, health & sanitation and by engendering opportunities for decent livelihood. The most
immensely colossal value integration and promotion is done through the accolades brought to the
companying several fields by widely recognised and reputed institutions around the world in severalyears.

HISTORICAL BACKGROUND: -
 RamanbhaiPatelfoundedCadilaintheyear1952.Hewasaformerlecturer intheL.M.Collegeof
pharmacy and Indravan Modi was his businesspartner.
Intheyear1995boththepartnerslittheirbusinesswhereIndravanModiwasrelocatedtoan incipient
company kenned as Cadila Pharmaceuticals Ltd, and Cadila Healthcare became
Ramanbhai’s holding company. The company Cadila healthcare had its initial public
offering in BOMBAY STOCKEXCHANGE.
 The company holds another company designated German Remedies in the year2015.
 On25June2007,thecompanyacquiredQuímicaeFarmacêuticaNikkhodoBrasilLtda(Nikkho)asa
component of Zydus Healthcare BrasilLtd.
 In the year 2010 the company, Cadila Healthcare with its outstanding performance received a
WELCOME TRUST award in the Research & Development department for affordable healthcare in
India.
 In 2014 Cadila Healthcare launched the world's first adalimumab biosimilar under the brand name
Exemptia at one-fifth the progenitor's price. Zydus Cadila Healthcare has additionally launched its
first research-predicated drug molecule Saroglitazar in the treatment of Diabetic Dyslipidemia under
the brand name "Lipaglyn". SoviHep is the first sofosbuvir brand launched in India by Zydus in the
year2015.
 In the year 2019, the company Cadila Healthcare introduced injectable ketorolactromethamine.

1
BOARD OF GOVERNORS: -

Independent Directors

 PRATIMARAM
 PROF. PRADIP N.KHANDWALLA
 MAJ. GEN. D. N.KHURANA
 AMITAVAMUKHERJEE
 GIRDHARBALWANI

Executive and Non-Executive Directors

 DR. RAJIVMODI
 AMESHCHOKSI
 DR. ABHIJATSHETH
 DR. AJITSINGH
 JASWINDERMATHARU

CORE BUSINESS
 API’s

1
Cadila is one of the top Active Pharmaceuticals Ingredient (API) manufacturing companies in the world, and one
of the few pharmaceutical companies that is vertically-integrated with a very vigorous and independent situating
in both the API and the Formulations markets. Spread over 80,000 sq. meter area, our API manufacturing facility
at Ankleshwar, Gujarat is ecumenically accredited by US FDA, ISO 9001:2008, COFEPRIS, PMDA Japan,
EDQM Europe, TGA Australia, WHO Geneva, etc. Apperceived as the world’s top API supplier, our cost
competitiveness and quality obsession has been a critical influence in driving our profitability and magnification
in the formulations market as well.

 FORMATION

Our extensive range of culminated dosage formulations covers every aspect of human life. Our basket of
formulations contains more than 850 products in several forms belonging to 45 therapeutic segments and 12
specialties including cardiovascular, gastrointestinal, analgesics, haematinics, anti-infectives and antibiotics,
respiratory agents, antidiabetics, immunologicals and oncology. Our formulation business consummates the
desideratum for domestic, regulated, and rest of the world markets. Our ecumenically accredited, state-of-
the- art manufacturing facilities in Dholka (Gujarat), Samba (Jammu and Kashmir) and Addis Ababa
(Ethiopia) engender virtually all dosage forms including sterile as well as non-sterile products

 RESEARCHDEVELOPMENT

Cadila has its own Contract Research Operation (CRO) business unit at Dholka in Ahmedabad, Gujarat. The
CRO offers a series of pre-clinical and clinical tribulations for drug development that cover over 45
therapeutic categories, namely cardiovascular, gastrointestinal, analgesics, haematinics, anti-infectives,
antibiotics, respiratory, anti-diabetics, and immunologicals. It isa one-stop destination for managing all
contract research activities, ranging from pre-clinical, BA-BE to Phase II to Phase IV tribulations. Our CRO
is a Center of Excellence (CoE) where we expedite our clients’ drug development process with our in-house
aptitude and world-class resources. Till date, we have conducted over 1000 pre-clinical studies, 390 BA-BE
studies and 28 clinical tribulations.

• COLLABORATION

1. In 2006, Cadila Pharmaceuticals entered into a joint venture with Apollo Hospitals Group to manage
ApolloHospitals,Ahmedabad.Overthelastdecennium,ithasbeenapperceivedasacentre ofexcellenceand has
emerged as a trusted destination for the patients intheregion.

2. In 2008, Cadila Pharmaceuticals composed a JV with StemCyte Inc. USA, organization dedicated to the
amassment,processing,testingandstorageofboth–privateandpublicumbilicalcordbloodunitsandits

therapeutic
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3. In 2009, Cadila Pharmaceuticals acquired a paramount stake in Novavax Inc., USA, a clinical-stage
biopharmaceutical company to compose a joint venture, CPL Biologicals, which develops and engenders
vaccines predicated on virus-like-particle (VLP)methodology.

HOW WELL THE COMPANY IS PERFORMING

• Cadila healthcare surprised the Street with its results for the third quarter of2017-18.

• Its sales incremented 38% year-on-year (y-o-y) because of 79% jump in its US sales, triggered by its
launch ofgLialda.

• The company had prerogatives for the drug for 180 days. Cadila’s net profit for the quarter additionally
zoomed 68% due to its vigorous operationalperformance.

• Analysts hope that the company will reiterate this performance in the fourth quarter as well and expect it to
report sales andnet.
• Most pharma companies are facing pressure in the US because of issues cognate to pricing and
US FDA. However, the impact on Cadila has not been much because of its diversified market—
just 40% of its revenue emanate from US. Cadila has additionally been expeditious to take act on
the US FDA admonitions. For instance, it resolved the issues raised by the US FDA about its
facility at Moraiya, Ahmedabad, much more expeditious compared to the time taken by most
Indian pharmafirms.

• With a pipeline of more than 130 pending ANDA (abbreviated incipient drug applications),
Cadila expects to launch around 10 products perquarter.

• In integration to Cadila’s better perspective in the US and the domestic markets, its
captivating valuation compared to other astronomically immense-cap players are another reason
why analysts are getting bullish on thiscounter.

• A cut of around 30% in the recent past has made this counter even more captivating. Since the
overall negative sentiments affecting the pharmaceutical sector will impact Cadila additionally,
the counter is only opportune for investors with a long-terminvestmenthorizon.

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 Chapter 2: Introduction of the Project
“Measuring customer –Based Brand Equity: Empirical
Evidence from the Cadila Industry”

Context of the research

This study seeks to examine the practicality and applications of a customer‐based brand
equity model in the cadila pharmaceuticalscompany

Brand equity is very important to marketers of consumer goods and services. Brand equity
facilitates in the effectiveness of brand extensions and brand introductions. This is because
consumers who trust and display loyalty toward a brand are willing to try to adopt brand
extensions. While there have been methods to measure the financial value of brand equity,
measurement of customer‐based brand equity has been lacking. Presents a scale to measure
customer‐based brand equity. The customer‐based brand equity scale is developed based on
the five underlying dimensions of brand equity: performance,
value, social image,
trustworthinessandcommitment.Inempiricaltests,brandsthatscoredhigheronthecustomer‐based
brand equity scale generally had higherprices.

What Is Brand Equity?

In marketing, brand equity is the level of sway a brand name has in the minds of
consumers, and the value of having a brand that is identifiable and well thought of.
Organizations establish brand equity by creating positiveexperiencesthatentice consumers to
continue purchasing from them over competitors who make similarproducts. This is done
by generating awareness through campaigns that speak to target - consumer values, delivering
on promises and qualifications when consumers use the product, and loyalty and
retentionefforts.

By offering consumers loyalty incentives such as points that can be exchanged for discounts
or a free product on their birthday, they are more likely to continue to purchase from your
brand rather than moving on to a competitor. Awareness and experience are the two key
tenets of brandequity:
 Brand Awareness: Can consumers easily identify your brand? Messaging and
imagery surrounding your brand should be cohesive so consumer can always identify it, even
for a new product.What kinds of values do consumers associate with the brand? Perhaps
they think of sustainability, quality, or family-friendlyqualities.

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  Brand Experience: How have first hand experiences with your brand gone? This
could mean that the product performed the way it was supposed to, that encounters with brand
representatives and customer service teams have been accommodating and helpful, and that
loyalty programs have beenworthwhile.

Why is Brand Equity Important?

A key benefit of establishing positive brand equity is the benefits it can have
onROI.Organizations that leverage the power of branding often earn moremoney than
competitors, while spending less - whether on production, advertising, or elsewhere. For
example, positive brand equity enables brands to charge price premiums. When consumers
believe in the values put forth by a brand and the quality of their products,they will pay
higher prices to purchase from that brand. Additionally, should an organization want to add
new product offerings, marketing them under the same umbrella brand will help the new
product take off faster, as trust has already been established. This is esepcially important as
a rising number of consumers, roughly 80%,now refuse to do business with or buy from a
brand that they don’t trust, and nearly 90% intendto disengage from a brand that breaches
theirtrust.

How Brand Equity Impacts Return on Investment (ROI)

Brand equity can positively affect the bottom line in the following ways:

Order Value per Customer

If your brand has positive brand equity, people are more likely to spendmore moneyto
purchase those products. This results in higher profit margins. It maycostcompanies the same
amount as competitors to make a product. However, consumers are willing to pay for the
brand name - For example, a pair of designer shoes may be worth more to
consumersasopposedtothoseofalesserknownorgenericbrand.

Reputation & Less Ad Spend

If your products have a good reputation, people will seek you out as their go-to brand. This
results in less money being spent via advertising and leads to increased sales when you launch
a new product due to establishedtrust.
 Customer Lifetime Value: If your customers are loyal to your brand, they will
purchase more from you. Apple is regularly regarded as one of the organizations with the
highest brand equity. Apple users tend to own other Apple products, while Android users
donotgenerallyhavealoyaltytoaspecificPCtechnologyprovider.
 Customer Loyalty: Customers are 7 timesmore likely to forgivebrandsthey are
loyal to for mistakes. Additionally, consumers are9 timesmore likely to try new products from
brands they are loyalto.
 Stock Price: Strong brand equity can increase stock market process for
organizations,outoftheexpectationthatitwillcontinuetoperform.

How to Build Brand Equity

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 There are obvious payoffs to establishing brand equity, but it takes a lot of work and
research upfront to build and maintain this status. It begins with conducting research into the
values and needs of atarget audience, as well as identifying what makes your brand different.
Once established, organizations must continue to spread awareness to earn new business, while
fostering loyalty among existingcustomers.
Understand Your Why
In Simon Sineck’s book Start with Why, he argues that compelling organizationshave a
purpose behind their brand. Too many advertisers focus on the How (How my productwill
make your day easier) versus the Why (Why does thisorganizationdo what it does). For
companies like Apple, their Why is immediately apparent. They defy the status quo and stretch
what’s possible. Because their advertising focuses on their brand (and not their computers),
they were able to expand their product lines into new areas such as phones and music, where
other computer companiesfailed.
Test your Messaging
When creating messaging, it is still important to test your positioning with consumers. How
do they react? What do they respond best to? Are you addressing their pain points?Are you
creating the type of message they will stop and engage with? Developing messaging
and creative elementsshould be a data-driven process, informed by what your specific
consumers are drawn to. This is especially crucial in today’s fragmentedmarket.
Drive Awareness
Once you have a compelling message, you must drive awareness for both your brand and
your company focus. This often means emphasizing brand values over product attributes, and
emotional connections over conversions. In a world focused on the next immediate transaction,
it can be hard to advocate for such long-term planning. Brandcampaignsmust run on longer
timelines for consumers to register messages and connect them back to branded products.
This increase on brand focus will yield to results down the line if donecorrectly.
MaintainConsistency
Once your brand is established, be consistent. This includes using consistent typefaces and
style guides. Treat your brand like a writer would treat a character. Even if the advertising idea
is good, if it is outside of your brand’s “personality”, don’t pursue it.
Customer Experience
Due to the rise of social media and the individual consumer’s voice, brands are no longer
just defined by what advertisements say. Brands are what consumers discuss or perceive.
Having a focus on the customer and putting them in the center of your company will help
elevate your overall brand. Consider Amazon’s review system. The site encourages users to
be active in reviewing products and communicating with sellers to ensure they get exactly
what they need - rather than just making a sale. When choosing between immediate
transactional value and the needs of the customer, they choose the customer. Amazon
understands that taking thislong-term approach to customerexperiencewill have a better
impact on the bottomline.

Social media is also a great way to get face time, so to speak, with your actual consumers.
For example, Nike has a dedicated Twitter page (Nike Support) to respond to consumer needs
24 hours a day in seven languages. This provides insight into where your brand may be
missing the mark, which can then be used for optimizations.

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 How to Measure and Understand Brand Equity
Brand equity can seem like and abstract concept that is difficult to measureor quantify.
Depending on the goals of your branding efforts, there are multiple methods that can be
used to measure equity through brand trackingefforts. Brand tracking not only provides an
understanding of a brand campaign’s ROI, but can help to measure awareness, association, and
more. These studies focus on either business impact metrics - retention, conversions, price -
or consumer impact metrics such as consumer research, sentiment analysis,etc.

Here are a few ways to measure goals from a branding perspective:

Financial

For those looking to assign a numeric value to a brand, consider the following

o Company Value: To measure the brand equity, you could think of the firm as an
asset. When subtracting the tangible assets from the overall value of the firm, you wouldbe
left with the brandequity.
o Market Share: What is your company’s market share? Leaders in the markettend
to have a higher brandequity.
o Revenue potential: What does the revenue potential look like for your product? How
does this compare to your company’s currentrevenue?
Product Value

A good way to measure product value is to compare a generic product with the branded
product. In the case of soap, Unilever can measure if women were more likely to purchase
Dove over the store brand. Additionally, you could consider what users potentially prefer,
such asCoca Cola compared to Pepsi, forexample.
Brand Audit

Conducting a brand audit can also help you get a better understanding of how your brand
is performing.Tobegin abrand audit,review comparison sites, social channels,and web
analytics. Pull this data together to see how consumers are talking about you and if this is
inline with the vision for yourbrand.
Brand Association - Keller’s Brand Equity Model

This brand equity model was developed by Dartmouthprofessor Kevin Lane Keller and
emphasizes the need to mold the feeling associated with a brand’s products. By creating
positive associations with your products, you can shape how customers think about your
brand. The model is based on a hierarchy of brand equity that begins with a brand establishing
their identity and differentiation, and is fully realized when the brand establishes resonance and
connection with target consumers. By understanding where your brand is in the pyramid,
you can get a better idea of how much brand equity you have, and what the next steps should
be to further establishing your brand in the consumer conscious. The steps consistof:
o BrandAwareness
o Communicating the Idea behind aBrand

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 o Understanding CustomerResponse
o Brand Resonance/Connection
Understanding Consumer Perception
Although not as quantifiable, mapping consumer perception to your brand is also an
important aspect of understanding brand equity.
 Recall and Recognition: Do people remember your brand without a prompt (unaided
brand awareness) or do they need an aide? (aided awareness). Understanding
howfamiliarpeoplearewithyourbrandcanhelpyouaddressanygapsinthemarket.
 Emotions Associated with the Brand: Failing to address negative emotions with
your brand can be a costly mistake. Even if your brand holds a monopoly of t he market,
consumers who are eager to switch will do so as soon as a competitor grows into maturation.

Review of Previous Studies Related To The Project

Author(s) Purpose Description y

ear
Bashar S. How brand A 2*2 between-subjects 2
Gammoh; equity levels experiment 011
KevinE. influence that varied innovation
Voss; Ryan the type
Skiver evaluation of (continuous/discontinuo
continuousvs us) and brand
discontinuou equity level (high/low)
s innovationof was conducted
new in order to test study
products hypotheses.
Narumon Measure the Two surveys were 2
Kimpakorn; brand equity of conducted to 010
Gerard service achieve the research
Tocquer firms (luxury objectives. The
hotels) using a first survey objective
customer was to measure
perspective brand equity using a
sample of250
international customers
of five-star
hotels in Bangkok. The
second survey
objective was to collect
information
regarding employee
brand
commitment in each
selectedhotel
using a sample of 250
employees.
Steven Test the A model of CBBE was 2

2
Pike; effectiveness of adapted from 010
Constanza a model of the marketing literature
Bianchi consumer- and applied to
and Gayle based brand a nation context. The
Kerr; Charles equity model was
Patti (CBBE) for a tested by using
country structural equation
destination. modeling with data
from a large
Chilean sample (n
=845) comprising a

mix of previous visitors

and non-
visitors.
Guillaume Analyses the Fitting with 2
Bodet; perceived brand an inductive 010
Nicolas equity approach,12
Chanavat of semi-structured
professional interviews are
football clubs conducted in order to
on analyze the
foreign perceptions of Chinese
markets fans offour
English Premier League
clubs.
Ceridwyn Present the Data were collected via 2
King first known an online 010
empirically- survey of 371
and tested model employees who work in
DebraGrace of Employee service organizations,
Based sourced from a
market research
Brand Equity databaselist.
(EBBE)
Rosa.E. Test sources The study is cross- 2
HernanE.Rios; of brand equity sectional;the 010
Riquelme for online dimensions to measure
companies sources and
antecedents of brand
equity maynot
be comprehensive
enough.The
stimuli represent only a
few online retailers.
Hyun-Joo Examine Three dimensions 2
Lee; Archana effects of brand 010
Kumar equityare
and Youn- of gender, evaluated based on the
Kyung Kim; needfor respondents’
uniqueness, shopping experience
and attitudes related tothe
toward selected US and local
American apparel brands.
products Data are collected from
2
 a convenience
on dimensionsof sample of college
brand equity
for a USand

2
 local students in India
apparel
brand in the
Indianmarket
Donna Present a test Measurement items are 2
F. of scales that adapted from 009
Davis; Susan measure existing scales found in
L. Golicic; brand equity the marketing
Adam and its two literature. Academic
Marquardt dimensions colleaguesand
– brand logistics practitioners
image reviewedthe
items for face validity
and brand and readability.
awareness

2
 Rationale of the study

Measuring brand equity is the starting point to understand and design the efforts that are
required by a brand to grow its market share. Measuring brand equity will help to develop a
strong brand with high value. Measuring brand equity will give you an understanding of other
indicators of your brand performance, such as reliability, satisfaction, quality, loyalty, etc.
These indicators depict the brand perception and ultimately give you a lead on whether the
customers are indeed happy about your brand.
By measuring brand equity, you will gain a better understanding of your target customers
and their demographics, such as their location, interests, buying habits, income group, gender,
age group, etc. This information will help to personalize branding efforts and will be able to
reach out to the right set of people.
Measuring brand equity is will also give an accurate picture of brand value that can be used
for reporting purposes such as showing the value in the balance sheet, tax purposes,
securitization, litigation, licensing, and even during mergers and acquisitions. Commercial
valuation of brand equity is equally important for budgeting purposes and for designing
marketing strategies.
Brand equity can be measured quantitatively and quantitatively. Quantitative measurement
includes measuring revenue, profit, loss, and sales. Qualitative methods of measurement
include intangible factors such as consumer satisfaction, consumer awareness, brand
perception,etc.
Why there is a need for Measuring customer –Based
Brand Equity

Brand equity is very important to marketers of consumer goods and services. Brand equity
facilitates in the effectiveness of brand extensions and brand introductions. This is because
consumers who trust and display loyalty toward a brand are willing to try to adopt brand
extensions. While there have been methods to measure the financial value of brand equity,
measurement of customer‐based brand equity has been lacking. Presents a scale to measure
customer‐basedbrandequity.Thecustomer‐basedbrandequityscaleisdevelopedbasedonthe five
underlying dimensions of brand equity: performance, value, social image, trustworthiness and
commitment. In empirical tests, brands that scored higher on the customer ‐based brand equity
scale generally had higherprices.

1) Brand Equity is a crucial asset of thecompany

Brand Equity is one of the crucial assets of the company and it can be leased, sold or
licensed to the other companies in the market as it has a strong foothold in the industry. It leads
to increased goodwillfor the company.

2) Premium price

The company can charge more prices for its products and services than their actual price as
per the market standards. The company is in a position to command a premium from the
consumers.

3) Good Brand equity results in increased marketshare

Having a good and strong Brand Equity increases the market share of the company owing to
the factor of customer loyalty and their affinity towards the brand and its offerings.

4) Introduce new line of products orservices

As the company enjoys a good Brand Equity for its existing line of products and services, it
is easier to introduce the new line of offerings to the same target market and group plus to the
untapped markets and consumers as well due to the strong legacy that has been formulated.

Broad Terms used in the Research

1- BrandEquity-

Brand equity refers to a value premium that a company generates from a product with a
recognizable name when compared to a generic equivalent. Companies can create brand equity
2
for their products by making them memorable, easily recognizable, and superior in quality and
reliability.

2- Measuring Model-

A model that quantifies the association between observations obtained during research
(indicators) and theoretical underlying constructs or factors. When carrying out a confirmatory
factor analysis, for example, one assesses a hypothesized measurement model that specifies the
relationships between observed indicators and the latent variables that support or affect them.

3- BrandAwareness-

Brand awareness is the extent to which customers are able to recall or recognize a brand
under different conditions. Brand awareness is one of two dimensions from brand knowledge,
an associative network memory model

4- Customer Based BrandEquity-

Customer-based brand equity (CBBE) is built on the concept that to build a strong brand – it
is important to understand how the customers think and feel about your product. For a customer
to love your product, you must build pleasant experiences around your brand. If they
experience positive thoughts, opinions, feelings, and perceptions about your product, then it
signals positive brandequity.

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 Objectives
1. To understand the element of customer based brand equity model.

2. To understand the brand equity to analyses various attributed contributing to the

formation of CBBE.

Scope of Study

The study will provide value insight into the measurement of brand performance ,brand
resonance ,brand judgment and brand salience with respect to cadila pvt.ltd and will offer a
foundation for pharma branding research .

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Limitation of the Study

There are many benefits of using online surveys for your marketing or company research.
However, it wouldn’t be fair to point out a few disadvantages.

1. OnlineLimitations
Not everyone has internet access. If you’re trying to survey a broad spectrum of people, you
may miss out on the thoughts or opinions of older demographics and rural dwellers by using an
online survey only. This occurred in 1948 when telephone surveys were used to poll for the
presidential election, but researchers failed to recognize that many voters didn’t yet have
telephones.

2. Close-Ended QuestionLimitations
Most surveys have close-ended questions, meaning the respondent has no choice but to
select an answer or choose “not applicable” or “other.” While close-ended questions make
surveys easy to analyze, they may have a lower validity rate than other types of questions (you
can, of course, create surveys with open-endedquestions).

3. Non-ResponseBias
Survey fraud is probably the heaviest disadvantage of an online survey. There are people
who answer online surveys for the sake of getting the incentive (usually in the form of money)
after they have completed the survey, not with a desire to contribute to the advancement of the
study. Read more in our blog: Different Types of Survey Bias and How to Avoid Them.

4. No Interviewers
While sometimes considered a benefit, the lack of an interviewer can sometimes be a
negative aspect of online surveys. That’s because a skilled interview can often coax answers
out of a participant that isn’t very forthcoming with their responses. A skilled interviewer also
knows how to read body language, and can often tell when a participant is being untruthful as
well as adjust questions to make an uncomfortable participant feel more atease.

3
 CHAPTER-
3LITERATURE
REVIEW

Customer-based brand equity (CBBE)

Successful brands, in turn, are considered to have high brand equity (King and Grace,
2010).Brand equity is defined as the differential impact of brand knowledge on consumer
response to the marketing of the brand (Gammoh et al, 2011). Brand equity is the added value
endowed by thebrand name (Farquhar et al., 1991; Tong and Hawley, 2009). Biel (1997)
defines brand equity in terms of cash flow differences between a scenario where the brand
name is added to a companyproduct and another scenario where the same product does not
have brand name (Kimpakorn &Tocquer, 2010). Aaker (1991) defines brand equity as a set of
assets and liabilities linked to abrand name and symbol that adds to or subtracts from the value
provided by a product or service to a firm and that firm’s customers. Keller (2003) defines
brand equity as differences in customer response to marketing activity. Brand equity is
regarded as a very important concept in business practice as well as in academic research
because marketers can gain competitive advantagesthrough strong brands (Wang et al, 2008).
Brand equity is an important consideration for service marketers (Davis, 2000; Keller, 2001;
Keller and Lehmann, 2003) and should be managed as an asset (Aaker, 2003; Davis, 2000;
Keller,2003).
Marketers and researchers use various perspectives to study brand equity. Customer based
approaches view it from the perspective of the consumer-either an individual or an
organization.The premise of customer-based brand equity models is that the power of a brand
lies in what
customers have seen, read, heard, learned, thought, and felt about the brand over time (kotller
&Keller, 2009).The financial approach measures brand value by isolating the net additional
cash flows created by the brand. These additional cash flows are the result of customers’
willingness to buy one brand more than its competitors’, even when another brand is cheaper.
In brief, customer equity is the preamble of financial equity (Kapferer,2008).
Brand Equity Models
Although marketers agree on basic branding principles, some models of brand equity offer
some different perspectives from which two more-established ones will be as follows:
Brand asset value or advertising agency- Young and Rubicam (Y&R) developed a model of
brand equity called brand asset valuator (BAV). Based on research with almost
500,000consumers in 44 countries, BAV provides comparative measures of the brand equity of
thousands of brands across hundreds of different categories. (Kotller and Keller, 2009).

3
 Theoretical foundations and background of research
Brand equity
Brand equity is one of the concepts that mean the difference between brands. What that
attracts consumers to a brand and cause to choose of it, is its value known as brand equity.
As well as high brand equity can lead to an increase effectiveness of advertising and sales
promotions, increasing the speed of market penetration and reduce the cost of development
of new products lines, whereas the effectiveness of brand equity on benefit and shareholder
returns has been proved. (Rahimi Nik and Sharif Samet, 2013).
According to David Aaker (1991), brand equity increases the efficiency of
marketingprograms and customer loyalty to the brand, reduces the cost of promotional
activities and through the expansion of the brand, provides a platform for its growth and
development. Therefore, brandequity causes the brand profit and provides cash flow for
organization. Strong brands can beconsidered the most valuable assets of business enterprise;
because it allows the organization can beachieved more profit margins, better cooperation
channels as well as other benefits (Ulsan, 2008).
Customer Based Brand Equity
From the customer’s perspective the brand equity is part of the attractive or repulsive than
certain product of a specific company. This by the invisible part of the provided product is
produced, no by the product features. At first, a brand in addition to having similarity with the
other products can be affected by advertising, the usage experience and other activities and its
reliability which these can be expanded a series of concepts and association of ideas than
available product.Especially, the brand equity can be created on the features that are without
intrinsic value.

Aker’s Customer Based Brand Equity model as a theoretical model of

research

There are many suggestions for dimensions of brand equity that first and most famous of
them has been provided by Aker (1991) that can be said are a purely psychological model that
theequity from the perspective of the consumer is measured. The Aker’s brand equity model
includes 5 dimensions, brand awareness, brand association, perceived quality of brand, brand
loyalty and other proprietary brand assets which is related to the company. Practically first 4
dimensions in analyzing Customer Based Brand Equity is considered that even Aker from these
4 factors in his other views has used and the fifth factor which includes the market value of
brand assets, like the patent,research and development investments and the channel
relationships as a communication channel between the company and the other factors no as a
direct relationship with the consumer and market- based has raised. Aker stated the concept of
brand equity by combining the attitudinal and behavioural aspects and the most comprehensive
framework to investigate the brand equity hascreated.

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 Brand awareness
Based on the Aker’s view, brand awareness has a close relationship with the brand
association. He defined the brand awareness as the ability of consumer in recall and recognition
of a particular brand in a product group. The brand awareness can be affected the consumer
perception and to propel him for choosing a brand and even loyalty toit.
Brand association: Aker defines the brand association as: “anything that communicates
between memory and a brand,” Brand associations can be seen into various forms and also can
be reflected features of a product and also aspects independent of its characteristics of that
product.With similar view, Higgins (2006) introduced brand awareness the ability of customer
in brand
recognition through promotions and reminding brand without promotions.

Perceived quality of the brand: The perceived quality is the judgments and
arbitration of customer about the advantage of product compared to competitor’s products.
Therefore, the perceived quality is not real or objective quality of product, but also is customer
subjective evaluation about the product.

Brand loyalty: Loyalty led to rebuy of consumption goods. In the marketing literature
most concepts of brand loyalty, it equivalent with concepts such as: rebuy, preference,

commitment .these terms are used interchangeably.

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Conceptual framework and research hypotheses

Conceptual framework

A thorough understanding of brand equity from the customer’s point of view is essential for
successful brand management. As Keller (1993) explains, positive customer-based brand
equity“can lead to greater revenue, lower cost, and higher profit; it has direct implications for
the firm’sability to command higher prices, a customer’s willingness to seek out new
distribution channels,the effectiveness of marketing communications, and the success of brand
extensions and licensing opportunities (Tong & Hawley, 2009).

Keller (2003) defines brand equity as differences in customer response to marketing activity.
His customer brand equity model identifies six components including brand salience,
brandperformances,brandimagery,brandfeelings,brandjudgmentsandbrandrelationships.
According
to Keller the process of building a brand requires to follow four consecutive steps:
1. Building brandawareness;
2. Creating brand meanings through imagery and brandperformances;
3. Building brand responses through brand feelings and judgments; andfinally
4. Building relationships between the brand and itscustomers.
We propose associative relationships among the six CBBE dimensions of brand
Salience, brand performance, brand feelings, brand judgments, brand image and brand
resonance.
With Keller’s brand equity model, this study sets out to retest the measurement of customer-
based brand equity with service brands in the government bank, which is shown in Figure 2.

The relationship between brand equity and brand equity dimensions

Brand salience
Brand salience is a key dimension of brand equity (Keller, 2003) and represents the strength
of awareness of the destination for a given travel situation. The aim is not to achieve general
awareness. But to be remembered for the reasons intended (Aaker, 1996). A brand with much
depth and spread in the minds of the customers has high salience in a way that its

3
customer always think about buying it and in many situations with the feeling of need go
toward it (Keller, 2003).

H1. Brand salience has a significant positive direct effect on brand equity.
Brand performance
A product is the core of the concept of brand equity because whatever a consumer
experiences from the brand, hears from the others, and a company tells to the customers by
advertisements are affected by the product. A pre-requisite of successful marketing is designing
and producing a product which can meet the needs of customers perfectly. To be loyal to a
brand, marketers should make sure that the experiences of the customers from the product can
meet theirexpectations.
High quality brands can have better financial performance and fill the pockets of their
investors with more profit (Keller, 2003).The implications of customer-based research suggest
that measures of customers’ brand perceptions are accurate reflections of brand performance in
the marketplace. Strong, positive customer-based brand equity has a significant influence on
the financial performance of thefirms
(Kim and Kim, 2004).

H2. Brand performance, has a significant positive direct effect on brand equity.

Brand Imagery
Brand image is linked to functional and emotional elements, which could also help a
company to communicate with consumers (Saviolo, 2002).
Brand image is a source that provides the brand to accomplish and remain resonant and
adequaten consumers’ minds (Sherry, 2005). Brand image is a meaning associated to the brand
by consumers (Alimen and Cerit, 2009). Brand image is regarded as a consumer-constructed
concept,
due to consumers’ creating a personal or image related to the brand with regard to their
knowledge and perceptions (Nandan, 2005).

H3. Brand imagery, has a significant positive direct effect on brand equity.

Brand judgments
Judgments to brand consist of individual believes and evaluations of the customers about a
brand which form by putting together all the performances and mental images of a brand. The
customers may judge a brand differently; but, there are 4 important judgments including,
judgments about the brand quality, reliability, properties, and superiority (Keller, 2003).

Consumers’ purchasing decisions are often based on perceptions and predictions of product
quality. These quality judgments are in turn dependent on product attributes and their relation
to the potential utility a consumer may derive from that product. Although most consumers
would agree that it is the more fundamental physical and reputational characteristics that
determine a product’s value, it is often an unwieldy task for consumers to process all the
available attribute information As a result; consumers often rely on simple decision-making
strategies when evaluating products (Oxoby and Finnigan,2007).

H4. Brand judgments, has a significant positive direct effect on brand equity.

3
 Brand feelings
Feelings to brand consist of the responses and emotional reflection of the customers to a
brand which result from the social trends impressed by the brand. The following questions are
posed in this way: What feelings do the marketing and other tools create in the customers?
How does a brand impress the feelings of the customers about themselves and their relation
with theothers?

These feelings can be little, much, negative or positive. The excitement resulted from a
brand in people can create a strong mentality during using a product. Nowadays, most
companies try to mix more feelings and excitement with their brands to make them more
memorable in the minds of their customers (Keller,2003).

H5. Brand feelings, has a significant positive direct effect on brand equity.

Brand resonance

Brand resonance refers to the relationship between brand and its users including consumers’
willingness to purchase and to recommend to others (Wang, 2008). The power of a brand
lies in the minds of consumers, in the effect of what they have experienced and learned about
the brandon their responses to the brand over time (Keller,2000).
Repurchase intention or loyalty is a “core dimension of brand equity” (Aaker, 1996, p. 105).
Some scholars even asserted that loyalty management, brand management, or relationship
management are the same thing (Crosby and Johnson, 2002). Brand resonance could help
predict repurchase intention, future earnings and firm value in various markets (Aaker and
Jacobson,2001). Brands win customers mainly because they “forge” a deep connection with
the culture (Holt, 2003).

H6. Brand resonance, has a significant positive direct effect on brand equity.

3
 CHAPTER-4

RESEARCH METHODOLOGY

The Study:

The Study was both descriptive as well as quantitative. This means that graphs, table or
numerical calculations is done to summarize and present the data in an efficient manner.
Descriptive research gives meaning to the quality and relevance of the study. It describes the
basic feature of the study. It involves data collection to answer the questions concerning the
current status of the subject. It provides simple summaries about the sample and the measures.
Together with simple graphics analysis, it forms the basis of quantitative analysis ofdata.

It is also a quantitative research which estimates population parameters and establishes

relationship between variables

Sample unit: The term Sample Unit refers to a singular value within a database. Sampling
unit is one of the units selected for the purpose of sampling. Each unit being regarded as
individual and indivisible when the selection is made.

For this study, the sample unit were the users of product taken under study.

Sample Unit: The study was conducted based on the responses from 50 respondents.

Sampling Method: Sampling is a process used in statistical analysis in which a pre-

determined numbers of observations are taken from a large population. This methodology
to sample out from a large population depends on the type of analysis being performed but
may include Simple Random Sampling or Systematic Random Sampling. This method is
used to get a small number of items or parts of large population to make a conclusion about
the whole project.

Tools for Data Collection

For the purpose of data collection, structured questionnaire was designed and response
was calculated on 5 point Likert scale.

3
Chapter-5
Research problems and formulization
of Hypothesis.

Demographic Profile of Respondents

Frequency Percentage %
(N- 50)
Female 28 56%

Male 22 44%

Total 50 100%

Table 5.1
Interpretation: -
The demographic factor considered for the study was the gender of the respondent.
This was done with an objective to find Measuring Customer-Based Brand Equity:
Empirical Evidence from the cadila industry as a customer. The sample of 50
respondents consisted 22 males and 28 female i.e. 44% were males and females were
i.e. 56% of the sample. It shows that female is more dominant over males.

Age

Table5.2
Range Frequency Percenta
ge %
(N- 50)
20-30 47 94%

30-40 2 4%

40 above 1 2%

Total 50 100%

Table5.2

Interpretation: -
 The age ofthe respondents was an important factor for the study to see that which
age group people prefers more. It is observed that most of the respondents belong to
the age group of 20-30 ,100%%, 30-40 years at 0 i.e. 0% and above 40years at 1 i.e.
0% respectively

Education

Table :5.3
Interpretation: -

The education ofthe customers was an important factor for the study to see that
how much the group people are studied .It is observed that most of the respondents
belong to the age group of graudation are 42%out of 50, 58% out of 50 people are
post graduate.
 The above chart shows that the 4% people from the total sample size of 50
respondents
Says that they don’t remember the graphic design ,symbols and logo of zydus
cadila is unique and 96% people remember .

The above chart shows that 46% people agree about the product information
provided by cadila pharmaceuticals products and 2% people strongly disagree

The above chart shows that 64% the people which is highest that cadila products
are the symbol of honesty and safety.and the lowest percentage is 4% that shows this
amount of people out of 50 respondents disagree.

In the above chart it shows that the 72% of people agree to the statement that is the
products are reliable for consumption and the lowest percentage is 2% people out of
50 respondents disagree with the statement.
 The above chart shows that 60%of the the people agree with the statement that is
cadila provide healthy products and the lowest percentage is 4% people say they
strongly disagree with the statement .

The above chart shows that 54%of the people agree with the statement that is these
cadila products are committed to society health improvement and lowest percentage is
2% people say they strongly disagree with the statement.
 The above chart shows that 50% of people agree with the statement that that these
products cross there mind first and the lowest percentage is 8% who disagree with the
statement .

The above chart shows that 44% people which is most agree with the statement
that that they have more knowledge of these products and the lowest percentage is
10% who disagree with the statement.
 The above chart shows that,56% of the people which is most agree with the
statement that the these products is more favorable and distinct compared with other
brands and 4% which is lowest disagree .

The above chart shows that 20% of the people which is highest agree with
statement that the these brand products cross there mind first and 2% stongly disagree
which islowest.
 The above chart shows that,40% of people agree which is highest with statement
that they have full satisfaction for these products and 4% disagree which is lowest .
 The above chart shows that 46% which is highest agree with the statement that is
the company is responsive to customer request and solve them fast and the lowest
percentage is 2 who disagree with the statement .

The above chart shows that,58% of the people which is the highest , and 2% of
respondent strongly disagree with statement that they reminds that a cadila products is
on a top economic corporation .
 The above chart shows that ,52% agree ,30%of respondent neutral , and 4% of
respondent strongly disagree with statement that acesss to these products are easily
possible .

The above chart shows that 16% of the respondents strongly agree ,40% agree
,36%of respondent neutral ,4% people disagree and 4% of respondent strongly
disagree with statement that they have full satisfaction for these products.
 The above chart shows that 18% of the respondents strongly agree , and 2% of the
people disagree with statement that the products are qualitative then other barnds.

The above chart shows that 12% of the respondents strongly agree ,58% agree , ,
4% which is lowest of strongly disagree with statement that these products and
performance are unique.
 Theabove chart shows that ,44% agreewhich is highest , and 2%of
people disagree with statement that the products are worth the cost tobear.
 The above chart shows that,48% people agree which is highest and 2% of peple
which is lowest strongly disagree with statement that they these products has more
credit and social reputation in the society.

The above chart shows,46% of the people and 2% of people disagree with
statement that they always feel comfortable by using these products.
 The above chart shows that 44% agree which is highest and 2% of people which is
lowest strongly disagree with statement that Cadila provide healthy products.

The above chart shows that,44% of the people which is most agree and 2% of
people strongly disagree with statement that they use Cadila products despite of using
other brands products .
 The above chart shows that,34% people which is highest agree , 2% which is
lowest of people strongly disagree with statement that they only use cadila these
products.

The above chart shows that,44% of the people which is highest agree and 4% of
respondent strongly disagree with statement that they feel closeness with other
customers of this brand.
 Chapter 6:
Conclusion, Suggestions & Implications

A. Conclusion
1. As Brand equity is very important to marketers of consumer goods and services. Brand
equity facilitates in the effectiveness of brand extensions and brand introductions. This is
because consumers who trust and display loyalty toward a brand are willing to try to adopt
brand extensions. .its is very important for an organization to study the customer base brand
equity of there products ie. Complan, Gulcon D.
2. From the surveyed carried out and after data analysis of the information obtain it can be
concluded that people are mostly aware about the zydus wellness products and it has a good
demand in themarket
3. Mostly the customers believes that there wellness range of products are safer to consume
and they have trust in it.
4. The products which are provided by cadila in zydus wellness range are healthy for the
consumption and they don’t have any sideeffects
5.Customer also believes that they can easy recognizes the brand in the store and prfer
toby them as firstpriority
6 The range of products provided by Cadila in Zydus wellness catogaory are more favorable
and distinct compared with the other brands \
7it is also found that the customer service provided by the Cadila have good response
to customer requests and solve them faster.

All information gathered during the survey after analyzing it properly has come up to
conclusion that the health zydus wellness products are have good reputation in the market and
customer usuly prefer to buy them first in the stores. From the customer’s perspective the
 brand equity is part of the attractive repulsive than certain product of a specific company.

As Brand equity is very important to marketers of consumer goods and services. Brand equity
facilitates in the effectiveness of brand extensions and brand introductions.
The Aker’s brand equity model includes 5dimensions,
1-brand awareness,
2- Brand association,
3- perceived quality of
brand, 4- brand loyalty and
other
5- proprietary brand assets which is related to the company.

B. Suggestions ;

1.I would like to suggest that the Cadila wellness should try more marketing interesting
marketing strategies such as online campaign, hoardings .display in various stores .

2. They should try to have social welfare service where people who can not afford to
buythere products are able to try them .

3. They should launch a separate products for children which can help in there healthylife
with different flavors.

4. Cadila wellness should try to have different segment on the base of age for
different category of age they should provide them healthy products.
5. I would like to suggest that the company should strength its distribution channel
especially at different shops and medical stores and local retailers which is the biggest
counter for there wellness products .

C. Learning
 Brand name is the most impotant factor for choosing the products as it
differentiate from the other brands and the goodwill of the brands attracts more
customers.
 Consumer are now days care more about the healthy living so they prefer t to
add healthy things in there daily life thus the demand for wellness products can
increase more further in future.
 Moreover I have learning how to make attractive posters of the products of cadila by
using different software such as canva and filmora and also made animates videos of
their agriculture products range that is grow indigo brand.
 Appendix

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