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Calculating the asset brand value of CROCIN by finding its brand image, brand equity and brand value
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TRACKING CROCIN
4/5/2014 Discovering the Insights of Brand Crocin
This report is made by students of Great Lakes Institute of
Management, Chennai who try to find the Brand Tracker Index
of Crocin. This is done by finding its Brand Image, Brand Equity
and Brand Value
TRACKING CROCIN
Page 1
Contents
INTRODUCTION ................................................................................................................... 2
Evolution of the brand: ............................................................................................................................ 2
Crocin Heritage Brand & Its Patent ...................................................................................................... 3
MEASURING BRAND IMAGE ............................................................................................... 4
Summary ..................................................................................................................................................... 4
Quantitative Research method ............................................................................................................... 4
Y&R BrandAsset Valuator .................................................................................................................... 4
Brand Strength ....................................................................................................................................... 4
Brand Stature ......................................................................................................................................... 5
Results and Analysis .............................................................................................................................. 6
Qualitative Research Method ................................................................................................................ 8
Laddering ................................................................................................................................................ 8
Recommendation .................................................................................................................................... 10
MEASURING BRAND EQUITY ............................................................................................ 11
Summary .................................................................................................................................................. 11
Brand Equity ........................................................................................................................................... 11
Analysis and Results .............................................................................................................................. 13
Attribute Analysis ................................................................................................................................ 13
Loyalty Analysis .................................................................................................................................. 14
Price Premia Analysis ......................................................................................................................... 15
Leveragability Analysis ..................................................................................................................... 16
Measuring Brand Equity Index ......................................................................................................... 17
Interbrand Model .................................................................................................................................. 18
Recommendation .................................................................................................................................... 20
BRAND VALUE MEASUREMENT ........................................................................................ 21
Calculating Economic Value Added ................................................................................................... 21
Assumptions: ............................................................................................................................................ 22
APPENDIX ......................................................................................................................... 23
Questionnaire 1 ..................................................................................................................................... 23
Questionnaire 2 ..................................................................................................................................... 25
TRACKING CROCIN
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TRACKING CROCIN D I S C O V E R I N G T H E I N S I G H T S O F B R A N D C R O C I N
INTRODUCTION Crocin is a natural antioxidant chemical compound that is generally found in the flowers of the plants called
crocus and gardenia. It is the diester formed from the combination of dicarboxylic acid crocetin and the
disaccharide gentiobiose. It is deep red in colour and forms an orange solution when dissolved in water.
The brand Crocin is a trusted household healthcare name and has retained its position for over three decades.
Crocin is an over-the-counter drug that is easily available to the patients. It is widely used as an effective cure
for mild-to-moderate pain. It enjoys the trust and confidence of the medical practitioners across the country
and also commands a strong medical equity.
Evolution of the brand:
Crocin, as a brand, has evolved over the years from body ache and a pain relieving medicine to an over the
counter and household drug. It has become a brand of choice and trust. Continuously introducing innovative
products, Crocin has evolved significantly from its first simple 500 Mg paracetamol variant to a range of
product extensions like Crocin Cold & Flu, Crocin Pain Relief and Crocin 650 Mg tablets along with an entire
range of liquid formats specially targeted towards Kids and Children.
Crocin Advance: Crocin Advance is an add-on to its original variant and works up to five times faster than its
regular variant. Crocin Advance with Optizorb technology releases its medicine up to five times faster than
ordinary paracetamol tablets, providing faster and effective relief.
Crocin Pain Relief: This is a clinically proven pain relief drug that contains a slightly higher dose of
paracetamol along with caffeine. It provides quick and effective relief from daily aches and pains.
Crocin Cold and Flu: The special non drowsy formula of Crocin Cold and Flu provides effective and quick
relief from multiple symptoms of cold without inducing one to sleep. This medicine contains paracetamol that
TRACKING CROCIN
Page 3
has analgesic as well as antipyretic properties. It also contains special ingredients which help in relieving
congestion.
Baby and Kids Range: After having numerous varieties for adults, Crocin pediatric case is a complete range
of antipyretic, analgesic medicines that includes drugs from infants to toddlers to older kids up to 12 years.
The range consists of:
Crocin Drops
Crocin Suspension (120 mg/ 5 ml)
Crocin Suspension Double Strength (240 mg/ 5 ml)
Crocin Heritage Brand & Its Patent
Crocin is a three decade old heritage brand. The generic brand belongs to the anti-pyretic category in India.
It is an over the counter (OTC) drug i.e. It can be bought without doctor’s prescription. The brand is the market
leader in the paracetamol category. Crocin was launched in India 30 years ago by the company Duphar
Interfran Ltd. During its early years, the brand was marketed through the ethical route. The brand was bought
by Smithkline in 1996. The brand was so successful in the market that GSK bought it for a considerable
amount of Rs 45 crore. There was logic behind the brand acquisition. GSK had the brand Calpol in the
prescription market and was a market leader in the Ethical segment. Crocin was proving to be a major threat
for Calpol. So the brand was acquired in order to safeguard the position of Calpol. The Indian
Pharmaceutical market is huge with a valuation of $45 billion in which the OTC segment accounts for a value
of $ 1 Billion i.e. Rs 4500 crore. Crocin is in the analgesic/antipyretic market. The analgesic (pain Killer)
market is a large market with a size of Rs 900 crore and the mild analgesic market is worth Rs 300 crore.
Within the analgesic market there are two types: Aspirin based and Paracetamol based. Paracetamol based
formulations constitute a major part of the market.
TRACKING CROCIN
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MEASURING BRAND IMAGE
Summary
Crocin is among the oldest and most reputed brands when it comes to OTC drug. In has enjoyed a stable
position in the market and also enjoys huge market share.
There was a time when people were confused about its positioning. The brand which was struggling itself to
break the “fever pill” perception has undergone a repositioning exercise.
Young & Rubicam’s Brand Asset Valuator model is used to measure the brand image of Crocin. This model
helps one measure the strength (stature) and vitality of the brand w.r.t four parameters, viz. knowledge, esteem,
relevance, differentiation. The scores for the parameters are given below:
CROCIN DISPRIN COMBIFLAM VOVERAN SARIDON
Knowledge 49% 19% 14% 5% 13%
Relevance 63% 7% 19% 5% 6%
Esteem 52% 8% 26% 3% 11%
Differentiation 36% 16% 16% 16% 16%
Quantitative research was carried on respondents by an online questionnaire. A sample size of 50 respondents
was taken and data was collected and different scores were calculated to measure Brand Image.
Result showed that brand vitality for Crocin is more than brand stature.
Next, qualitative research - laddering was carried on respondents.
Brand image is the sum of impressions that affect how we perceive a brand, including elements that identify
or distinguish the brand from others, the personality the brand acquires and the benefits it promises. To
calculate the Brand Image both qualitative and quantitave reaseach methods are used.
Quantitative Research method
Y&R BrandAsset Valuator
The brand value of a brand can be determined by using this BAV model that was developed by the
advertising agency Young and Rubicam by applying four factors as below which are further grouped in to
two categories.
Brand Strength
TRACKING CROCIN
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It is the relationship between a brand’s differentiation and relevance factors which is the yardstick for a
brand’s growth potential: the Brand Strength.
Brand Stature
Esteem and knowledge indicate the involvement with a brand: the Brand Stature. It is the decisive gauge of
the goodwill which a brand enjoys.
In our study, an online questionnaire was prepared and circulated for which responses were collected and
analyzed to arrive at conclusions about CROCIN as a brand. Consumer’s perception of the brand across
all the 4 factors of BAV model is understood. Each factor is then given a weight age of 100% which is
split amongst the questions of same factor accordingly. A score for each of the brands in the study is then
calculated by using the weight age and totaling the number of responses. The final score for brand value
of Crocin was calculated based on the scores of each factor.
TRACKING CROCIN
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Results and Analysis
The result of the data collection has been tabulated below:
CROCIN DISPRIN COMBIFLAM VOVERAN SARIDON
Knowledge 49% 19% 14% 5% 13%
Relevance 63% 7% 19% 5% 6%
Esteem 52% 8% 26% 3% 11%
Differentiation 36% 16% 16% 16% 16%
Findings clearly show that Crocin scores well on all the 4 parameters- differentiation, relevance, esteem and
knowledge.
TRACKING CROCIN
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The power grid of the above brands is as shown:
TRACKING CROCIN
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Finally, after finding out the different pillars of BAV for crocin, we plot it in as shown
Crocin scores high on relevance which means that people consider it to be appropriate and vital to use. It
scores relatively low on differentiation which means that people consider all th OTC drug same. It scores
relatively well on knowledge and esteem. But it also shows that more awareness for the brand needs to be
created for the brand. The graph also shows that brand vitality is more that brand stature for crocin.
Qualitative Research Method
Laddering
Laddering is an interview technique to find the subconscious reasons of why a particular task if preferred. It
helps one get the subconscious reasons of doing particular task. The interview starts with the interviewer
asking the question “Did you like the movie”, interviewee replies, “I like the movie because I like its storyline”,
why did you like storyline, reply, “I liked the storyline because it was about how a person from rags to riches”
and the questions keep on building up. The format which is followed is
Interviewer: "Why x?"
Subject: "Because z"
Interviewer: "Why z?"
Subject: "Because b"
Interviewer: "Why b?"
TRACKING CROCIN
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After this process, the interviewer reaches to the cognitive reason behind the task. The express goal of
determining sets of linkages is to find the key perceptual elements across the range of attributes (A),
consequences (C), and values (V). From these questions dominant connections can then be graphically
represented in a tree diagram, termed a hierarchical value map (HVM).
In our case, when we went to ask questions regarding consumption of Crocin, most of them replied that they
take consume as they want to relieve pain. When asked further that why they want to get relieved from pain,
as they wanted to do their own work. The majority replied that they want to do their part of work because
first they don’t like others doing their work second they don’t trust others who do their work. The cognitive map
is as sketched below.
TRACKING CROCIN
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Recommendation
Crocin scores high on relevance which means that people consider it to be appropriate and vital to
use.It scores relatively low on differentiation which means that people consider all th OTC drug same.
Advertisements on crocin should show the unique features of the brand. It needs to know the customer
well.
It scores relatively well on knowledge and esteem. But it also shows that more awareness for the
brand needs to be created for the brand as recall is low.
Crocin should do more of ad campaigns and promotional activities to increase awareness and
highlight its differentiating factor
TRACKING CROCIN
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MEASURING BRAND EQUITY
Summary
We measure brand equity by using three metrics – loyalty, price premia and levergability. We have developed
a model which deals with the above three criteria. The study was conducted on a sample size of 40. The
instrument used for data collection was face-to-face structured interview and online questionnaire. In our model
we measured Brand Equity as what consumers’ hold in their head about a brand, and how that affects their
behavior. A comparative study was done with four other competitors of CROCIN (Disprin, Combiflam, Voveron
and Saridon) across the three metrics. At first comparative study was done for all the five brands of OTC drug
for Consumer loyalty and Price Premium i.e. what consumers do or feel. Then it was done for leveragability in
the same way and the brand equity index was thus calculated using the three.
Crocin is a clear favorite amongst the people and the positioning followed by GSK for this brand is in line with
what the consumers want. Hence we can conclude that, Crocin should continue as market leader in the coming
years.
The brand equity index of Crocin is 0.9894
Brand Equity
Brand Equity measures the ability of the brand to manage the changed market condition. It is the added
value endowed on products and services, which may be reflected in the way consumers, think, feel, and act
with respect to the brand. Thus, Brand Equity is an important intangible asset to the firm that has psychological
and financial value. Because it is an intangible asset, it is not easy to measure. In simpler terms it can be
defined as the value premium that a company realizes from a product with a recognizable name as
compared to its generic equivalent. Companies can create brand equity for their products by making them
memorable, easily recognizable and superior in quality and reliability.There are different models to measure
it but none of them is perfect. Brand equity can be broadly categorised as brand awareness, brand
association, brand identity, brand loyalty and percieved value.
TRACKING CROCIN
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All the models define their own method to measure the Brand Equity by measuring the three Brand Equity
metrics:
Loyalty - Brand loyalty, in marketing, consists of a the commitment of the comsumer to repurchase or continue
using the same brand.
Price Premia – The willingness of the consumers to pay a premium for the brand
Leveragability – It represents the brand‘s ability to stretch from one offering to another
We have developed a model which deals with the above three criteria. The study was conducted on a sample
size of 40. The instrument used for data collection was face-to-face structured interview and online
questionnaire. In our model we measured Brand Equity as what consumers’ hold in their head about a brand,
and how that affects their behavior. A comparative study was done with four other competitors of CROCIN
(Disprin, Combiflam, Voveron and Saridon) across the three metrics. At first comparative study was done for
all the five brands of toothpaste for Consumer loyalty and Price Premium i.e. what consumers do or feel. Then
it was done for leveragability in the same way and the brand equity index was thus calculated using the
three.
TRACKING CROCIN
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Analysis and Results
Given below are the different findings for the brand equity measurement of our brand Crocin with
competitors.
Attribute Analysis
We checked the importance of different attributes listed below for an OTC drug:-
Non-drowsy formula
Very effective
No side effects
Worth its price
Is Trustworthy
The importance of different factors is shown in the table.
Non-drowsy formula 16%
Very effective 22%
No side effects 18%
Worth its price 23%
Is Trustworthy 21%
TRACKING CROCIN
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Crocin scores high on all the attributes.
Loyalty Analysis
We use the Colombo Morrison model to measure the loyalty of the brands. The findings of the data collection
are shown below:-
Brands Purchase 3 Purchase 2 Purchase 1 None Loyalty
Crocin 6 3 3 5 29.03%
Disprin 0 3 9 4 16.13%
Combiflam 4 5 3 6 26.88%
Voveron 0 3 9 10 16.13%
Saridon 1 2 9 8 17.20%
Then we assign weights to each purchase i.e. 3 for purchase 3, 2 for purchase 2, 1 for purchase 1 and 0 for
none. Then we found the loyalty score for each of the brand. As we can see, the loyalty score for Crocin is the
highest among the brands but the score is not very high.
TRACKING CROCIN
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Price Premia Analysis
Now we check the brands ability to charge a premium using the Van Westendorp Model. The question uses
the following statements to test the price sensitivity of the brands:-
Whatever it costs
Even if it costs more than any other brand
I wouldn't buy it at all
Price sensitivity of different brands is shown below.
TRACKING CROCIN
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The ability to charge price premia is explained by the price premia index given below:-
Disprin
Combiflam Voveron Saridon Crocin
0.2481 0.1269 0.1654 0.1865 0.3308
Leveragability Analysis
Through this analysis, we check the elasticity of the brand across the following categories:-
Head ache syrup
Water based drop
Inhaler
Medical information website
Medical equipment
Pain relief spray
Energy drink
The categories have been sub divided into two classes namely Associated and No relation
Associated
Head ache syrup
Water based drop
TRACKING CROCIN
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Inhaler
Pain relief spray
No relation
Medical information website
Medical equipment
Energy drink
The scores for different brands across different categories is shown below:-
Crocin with a score of 2.35 is the most elastic brand when compared to its competitors. But none of the 5
brands are elastic enough to extend into new categories. Combiflam is the most inelastic brand.
Among the categories, head ache syrup and water based drops is the most vulnerable while energy drink
category is most inelastic.
If the check the scores of the brands in associated and no relation category, Crocin is most elastic.
Measuring Brand Equity Index
Weights Metrics Crocin Disprin Combiflam Voveron Saridon
0.333 Loyalty 0.2903 0.1613 0.2688 0.1613 0.1720
0.333 Price premia 0.3308 0.2481 0.1269 0.1654 0.1865
0.333 Leveragability 2.35 2.06 1.67 1.98 1.87
BEI 0.9894 0.8223 0.6879 0.7681 0.7421
Based on the values we have calculated, the brand equity index of Crocin is 0.9894.
Brands
Head ache
syrup
Water based
dropInhaler Pain relief spray
Medical
information
website
Medical
equipmentEnergy drink
Crocin 3.525 3.5 2.35 2.5 1.8 1.875 1.675 2.35
Disprin 3.05 2.925 1.975 2.2 1.775 1.5 1.4 2.06
Combiflam 2.36 2.156 2.1 1.78 1.92 1.3 1.57 1.67
Voveron 2.98 2.85 1.98 2.22 1.76 1.83 1.58 1.98
Saridon 2.35 2.125 1.98 2.22 1.76 1.83 1.58 1.87
Brand
Leveragability
score
Associated No relation
TRACKING CROCIN
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Interbrand Model
Focus on: Brand Strength
Our experience shows that brands that are best placed to keep generating demand and profit into the future
are those performing strongly (relative to competition) across a set of ten factors, shown below.
Four of these factors are internally driven, and reflect the fact that great brands start from within. The
remaining six factors are more visible externally, acknowledging the fact that great brands change their
world.
Internal factors
Clarity
Clarity internally about what the brand stands for and its values, positioning, and proposition; clarity, too
about target audiences, customer insights, and drivers. Because so much hinges on this, it is vital that these are
articulated and shared across the organization.
Commitment
Internal commitment to brand, and a belief internally in the importance of brand. The extent to which the
brand receives support in terms of time, influence, and investment.
Protection
How secure the brand is across a number of dimensions: legal protection, proprietary ingredients or design,
and scale or geographical spread.
Responsiveness
The ability to respond to market changes, challenges, and opportunities. Internally, the brand should have a
sense of leadership and a desire and ability to constantly evolve and renew itself.
External factors
Authenticity
The brand is soundly based on an internal truth and capability. It has a defined heritage and a well-
grounded value set. It can deliver against the (high) expectations that customers have of it.
Relevance
The fit with customer/consumer needs, desires, and decision criteria across all relevant demographics and
geographies.
Differentiation
The degree to which customers/consumers perceive the brand to have a differentiated positioning distinctive
from the competition.
Consistency
The degree to which a brand is experienced without fail across all touch points or formats.
TRACKING CROCIN
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Presence
The degree to which a brand feels omnipresent and is talked about positively by consumers, customers, and
opinion formers in both traditional and social media.
Understanding
The brand is not only recognized by customers, but there is also an in-depth knowledge and understanding of
its distinctive qualities and characteristics. (Where relevant, this will extend to consumer understanding of the
company that owns the brand.)
The weights which are assigned and the values which we got are as follows:
Clarity – weights assigned (10%) – 3.01
Commitment - weights assigned (10%) – 4.11
Protection - weights assigned (10%) – 3.98
Authenticity - weights assigned (15%) – 4.35
Responsiveness - weights assigned (10%) – 3.78
Relevance - weights assigned (12%) – 4.12
Differentiation - weights assigned (15%) – 3.52
Consistency - weights assigned (5%) – 4.27
Presence - weights assigned (5%) – 3.04
Understanding - weights assigned (15%) – 2.89
We check the brands across the components of the model on a 5-point scale. The score for each component is
added and divided by the maximum achievable value (50).
To calculate the RBI (Role of Brand index), we add the component scores without assigning weights to it and
then it is divided by 50.
To calculate the BSS (Brand Strength score), we add the component scores by assigning weights to it and then
it is divided by 5.
Crocin
SUM(with weights) 3.9619
SUM(without weights) 37.07
RBI 74.14%
BSS 79.24%
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Recommendation
BEI of the brand is not high due to its low loyalty index, price premia index. The brand is not also
elastic to leverage its ability to extend into new categories.
It has not understood the customer well which would otherwise have added value to the brand
Brand needs to increase the loyalty among the customers which is only possible by brand awareness
and differntiation.
But relatively crocin is doing well, it should try and maintain its hold in the market.
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BRAND VALUE MEASUREMENT
Calculating Economic Value Added
Now let’s calculate the Brand Valuation of the selected brand.
(As balance sheet for Crocin wasn’t available we did the Brand Valuation of its parent company GlaxoSmithKline
Pharmaceutical Limited, India)
(Amounts in Rupees Lakhs)
GlaxoSmithkline 2013 2014 2015 2016 2017 2018
Revenue from
operations 256,269.27 281,896.20 310,085.82 341,094.40 375,203.84 412,724.22
Expense 205,435.03 223,924.18 244,077.36 266,044.32 289,988.31 316,087.26
EBIDTA 50,834.24 57,972.01 66,008.46 75,050.08 85,215.53 96,636.96
Tax (33%) 16,775.30 19,130.76 21,782.79 24,766.53 28,121.12 31,890.20
NOPAT 34,058.94 38,841.25 44,225.67 50,283.55 57,094.40 64,746.77
Capital 165.51 182.06 200.27 220.29 242.32 266.56
Capital WIP 6,186.01 6,742.75 7,349.60 8,011.06 8,732.06 9,517.94
Intangible
Earnings 4,214.97 4,636.47 5,100.11 5,610.13 6,171.14 6,788.25
Role of Brand
Index 74%
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Branded
Earnings 3,124.98 3,437.48 3,781.22 4,159.35 4,575.28 5,032.81
Brand Strength
Score 79.24%
Brand Discount
Rate 6%
Discounted
Brand Earnings 2,937.48 3,231.23 3,554.35 3,909.79 4,300.76 4,730.84
NPV of (1-5
Years) 18,277.04
Long Term
Growth Rate 2%
Brand Value
beyond 5 years 2,365.42
Total Brand
Value 20,642.47
Assumptions:
As balance sheet for Crocin wasn’t available we did the Brand Valuation of its parent company
GlaxoSmithKline Pharmaceutical Limited, India
RBI and BSS values considered same for Crocin and GSK
Growth rates projected are as per report by McKinskey
Discount rate has been found referring to S Curve of Brand Risk rate vs Brand Strength Score.
Based on the above assumptions, brand value of GlaxoSmithKline Pharmaceutical Limited, India is Rs.
20,642.47 Lakhs.
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APPENDIX
Questionnaire 1
1. Name:
2. Gender:
3. Occupation:
4. Age:
5. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for
headache/body ache?
6. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for
cough n cold?
7. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for pain
relief?
8. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for
fever?
9. Which pain relief medicine do you use?
a. Crocin
b. Disprin
c. Combiflam
d. Voveron
e. Saridon
10. What do you think is very important when you buy an OTC drug? Please rank (1st to 6th) the
following:
a. Price
b. No side effects
c. Effectiveness
d. Non-Drowsy Formula
e. Quality
f. Trust
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11. Based on the brand you use, please rank the following (1-6):
a. Price
b. No side effects
c. Effectiveness
d. Non-Drowsy Formula
e. Quality
f. Trust
12. If you consider Crocin as a brand, rate the following attributes in order of preference:
1 2 3 4 5 6
Price ❏ ❏ ❏ ❏ ❏ ❏
No side effects ❏ ❏ ❏ ❏ ❏ ❏
Effectiveness ❏ ❏ ❏ ❏ ❏ ❏
Non Drowsy formula ❏ ❏ ❏ ❏ ❏ ❏
Quality ❏ ❏ ❏ ❏ ❏ ❏
Trust ❏ ❏ ❏ ❏ ❏ ❏
13. Which is the medicine brand, you will recommend your friend for pain relief?
a. Crocin
b. Disprin
c. Combiflam
d. Voveron
e. Saridon
14. Which brand do you think is popular?
Strongly
Agree
Agree Neutral Disagree Strongly
Disagree
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Crocin ❏ ❏ ❏ ❏ ❏
Disprin ❏ ❏ ❏ ❏ ❏
Combiflam ❏ ❏ ❏ ❏ ❏
Voveron ❏ ❏ ❏ ❏ ❏
Saridon ❏ ❏ ❏ ❏ ❏
15. What will you buy if Crocin is out of stock?
a. Purchase a different brand
b. Purchase it from a different store
c. Delay purchase
Questionnaire 2
1. Name:
2. Gender:
3. Occupation:
4. Age:
5. Which brand would u associate with the following attribute?
Price No side
effects
Effectivenes
s
Quality Trust Non-drowsy
formula
Crocin ❏ ❏ ❏ ❏ ❏ ❏
Disprin ❏ ❏ ❏ ❏ ❏ ❏
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Combiflam ❏ ❏ ❏ ❏ ❏ ❏
Voveron ❏ ❏ ❏ ❏ ❏ ❏
Saridon ❏ ❏ ❏ ❏ ❏ ❏
6. Out of the last 5 purchases, how many times have you purchased the following brands?
Purchase 1 Purchase 2 Purchase 3 None
Crocin ❏ ❏ ❏ ❏
Disprin ❏ ❏ ❏ ❏
Combiflam ❏ ❏ ❏ ❏
Voveron ❏ ❏ ❏ ❏
Saridon ❏ ❏ ❏ ❏
7. If the following brand enters into the following categories, how would u rate your acceptance?
Head ache
syrup
Water based
drop
Inhaler Medical
information
website
Medical
equipment
Pain relief
spray
Energy drink
Crocin ❏ ❏ ❏ ❏ ❏ ❏ ❏
Disprin ❏ ❏ ❏ ❏ ❏ ❏ ❏
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Combiflam ❏ ❏ ❏ ❏ ❏ ❏ ❏
Voveron ❏ ❏ ❏ ❏ ❏ ❏ ❏
Saridon ❏ ❏ ❏ ❏ ❏ ❏ ❏
8. Kindly tell us which of the following statement describes how likely it is for you to buy a strip of
Crocin (15 tablets).
Whatever it costs Even if it costs more than any
other brand
I wouldn't buy it at all
Crocin ❏ ❏ ❏
Disprin ❏ ❏ ❏
Combiflam ❏ ❏ ❏
Voveron ❏ ❏ ❏
Saridon ❏ ❏ ❏
9. With respect to Crocin answer the following questions
Strongly
Agree
Agree Neutral Disagree Strongly
Disagree
Crocin has a high reputation ❏ ❏ ❏ ❏ ❏
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Crocin is a prestigious brand ❏ ❏ ❏ ❏ ❏