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According to Haigh (2009), recession period provides a good platform for attracting consumers towards the brands. During the period of recession, not only the demand and price go down of well-established branded products, however, consumer’s preferences is also subject to change and makes it more favorable to a brand to come out with innovative offerings. Moreover, it also suggests a change in brands’ existing strategies to reach its consumer base. The author calls it the “Demand Drivers”which are further classified as: functional, emotional and conduct. (Haigh, 2009). In case of Zara, research shows that the merchandise available in Zara stores is considered to be unique, holding a very few number of merchandise per design –putting the entire collection available in the store on display (Ferdows, Lewis, and Machuca, 2003, Caro, 2011; Worstall, 2015). In addition, Zara’s strategies includes the introduction of new designs at regular intervals, its rapid production cababilities and lead time in production allows Zara to analyse and predict future market trends (Caro, 2011; Worstall, 2015; Laurent, 2003). Moreover, Zara has a strict about the due dates to place the order, as they tend to avoid the perils of oversupply as most of the stock of Zara remains in the store for less than a fortnight (Ferdows, Lewis, and Machuca, 2003; Caro, 2011; Doonar, 2004). 2.3.3 Brand Image Porter and Claycomb (1997) state that well-recoginised brand is an asset for the organisation that possesses it. The authors claim that the impression of a brand depends on the stores choice decisions and buyers behavior. They, also, claim that the brand image has a direct impact of store image (Porter and Claycomb, 1997). Martenson (2007) agrees, and adds that it is not just brand image and store image that are related, loyalty to the brand also has an impact because of brand and store image. The authors’ research states that brand image leads to customer satisfaction, which leads to loyalty in the brand (Martenson, 2007). Brand Personality Congruity is a phenomenon where the customer relates his/her own personality with the brand personality (Jlanyad and Li Dick, 2012). The authors, also, state the attitude and loyalty
25 for a brand are important factors that predict the behavior of a consumer of the brand (Jianyad and Li Dick, 2007). According to Koubaa (2008), country of origin is one of the factors that influences brand image and loyalty. “the power of brand lies in the minds of consumer and customers” (Koubaa cited Keller, 2008).Rindell and Iglesias (2014) conducted a research based on understanding the composition of Brand Image. The research conducted and the findings clearly state that time and context are the core components of brand image. In addition, the authors, also, mentioned that it takes time for a consumer to form an image of a product or service and these may also provide with opportunities to connect with consumers (Rindell and Iglesias, 2014). In case of Zara, “Zara” has an brand image of a cost leader in the market with a compromise in quality of the merchandise (Caro, 2011).