Developing Brand Equity Through Consumers – Unfolding The Case Of Parle – G and Its Success In India

Today’s business world is highly evolving and the greatest challenge that companies face is staying relevant and sustaining in the intensely competitive marketplace. The food industry in India, especially the biscuit segment, has witnessed a spurge over the years, beckoning marketers to formulate strategies that enhance brand value. According to the market research report by Blue Weave Consulting the Indian Biscuits Market is growing at the CAGR of 12.4 % and touched USD 5,151.2 Million in 2020. The market is expected to reach USD 11,792.3 Million by 2027. Attracted by growing consumer demand and profits in this sector several brands such as Parle – G, Britannia, SunFeast, Priya Gold, Horlicks, Biskfarm and others contest for market share and consumer loyalty. In such a scenario gaining competitive advantage and being the customers’ preferred choice over competitors requires companies to focus on building brand equity. The present study aims at analysing the essential aspect of Brand equity for an Indian grown indigenous brand namely Parle G by using Keller’s Customer-Based Brand Equity (CBBE) model. Parle G, a name that has withstood in the Indian food market for ages, despite intense competition and changing consumer tastes and preferences is ideal for the current study on Brand equity. The findings of the study will decipher how the company has leveraged its brand equity to translate into benefits such as enjoying consumer goodwill and loyalty and thereby increasing its relevance in the market over the years.