Impact of Brand Knowledge on Consumer Lifetime Value with Special References to Ayurvedic Products in Sri Lanka.

Abstract

In Sri Lanka Ayurvedic industry can be define as growing industry in today context then it is critical to understand about future development of this industry. As marketing student researcher tried to figure it out how it can be applied branding concept in order to develop this ayurvedic industry in Sri Lanka. Researcher found that even though there is a possibility to develop this industry most of companies do not engage with high branding concept and brand development task such as FMCG industry. But if companies develop their brand by taking some effort actually it will be impact to their loyal customer base in other word their cash generating ability will increase. There is story behind to select this topic also that is researcher got job in ayurvedic product manufacturing company and that company do not engage with more branding and particular company not spend more money to develop their Ayurvedic brands. In that sense researcher though that there is opportunity to develop this industry by using brand as mentioned early. Then researcher needed to figure it out is that true? To prove it researcher has done this study. Then researcher finally proved that if company come up with branding concept such as FMCG market then that day will be a great day to ayurvedic industry in Sri Lanka.