The Study on Brand Awareness and Customer Preference of Piramal Finance Post- Parakh Campaign With Reference to Tamil Nadu
EMIMA P
School of Management Studies
Master of Business Administration (Finance & Marketing)
Sathyabama Institute of Science and Technology
Chennai – 600119
DR.J. RANI MBA., M.Phil., Ph.D. Associate Professor
School of Management Studies
Sathyabama Institute of Science and Technology
Chennai – 600119
ABSTRACT
The purpose of the study on consumer preference and brand recognition in the Piramal Finance post-Parakh campaign with regard to Tamil Nadu was to evaluate the campaign's efficacy and pinpoint areas in need of development. 103 people in Tamil Nadu participated in the survey, which yielded insightful information on the target audience's preferences. The results showed that the target audience is made up of salaried employees and young professionals, the majority of whom have undergraduate and graduate degrees. The importance of digital marketing was underscored by the fact that social media became the main source of financial information. In order to become a preferred financial institution in Tamil Nadu, the study recommended that Piramal Finance improve its marketing, customer service, and service distinction. In particular, increasing digital marketing, improving customer service, and strengthening competitive pricing strategies are advised. Additionally, the study highlighted the significance of customer testimonials, community engagement, and simplified loan procedures in enhancing brand reputation and customer satisfaction. Better loan rates and flexible lending policies were identified as key differentiators, indicating that Piramal Finance needs to focus on competitive pricing and customer-centric services. Overall, the Parakh campaign has raised brand awareness, but Piramal Finance needs to address the identified areas to solidify its market position. By putting the suggested strategies into practice, Piramal Finance can increase market share, improve customer loyalty, and establish itself as a preferred financial institution in Tamil Nadu. The majority of respondents preferred loan options and incentives, and they identified Piramal Finance's better interest rates as its most alluring feature.
KEY WORDS:
Piramal finance, parakh campaign, brand awareness, customer preference, social media.
