Showing papers on "Brand equity published in 1997"

Strategic Brand Management: Building, Measuring, and Managing Brand Equity

Abstract: Part I: Opening Perspectives Chapter 1 Brands and Brand Management Part II: Identifying and Establishing Brand Positioning and Values Chapter 2 Customer-Based Brand Equity Chapter 3 Brand Positioning Part III: Planning and Implementing Brand Marketing Programs Chapter 4 Choosing Brand Elements to Build Brand Equity Chapter 5 Designing Marketing Programs to Build Brand Equity Chapter 6 Integrating Marketing Communications to Build Brand Equity Chapter 7 Leveraging Secondary Brand Associations to Build Brand Equity Part IV: Measuring and Interpreting Brand Performance Chapter 8 Developing a Brand Equity Measurement and Management System Chapter 9 Measuring Sources of Brand Equity: Capturing Customer Mind-Set Chapter 10 Measuring Outcomes of Brand Equity: Capturing Market Performance Part V: Growing and Sustaining Brand Equity Chapter 11 Designing and Implementing Branding Strategies Chapter 12 Introducing and Naming New Products and Brand Extensions Chapter 13 Managing Brands over Time Chapter 14 Managing Brands over Geographic Boundaries and Market Segments Part VI: Closing Perspectives Chapter 15 Closing Observations

Why Store Brand Penetration Varies by Retailer

Abstract: Our objective in this paper is to explain across-retailer variation in private label performance. Although retailers have lots to gain by better understanding the determinants of successful store brand programs, this knowledge also is very valuable to manufacturers. Lessons learned from competing with other national brands may not transfer one-to-one to the store brand case because, quite simply, a popular private label program changes the status of the retailer from being solely a customer to also a competitor. When customers are competitors, standard predatory tactics may not be appropriate; instead there is a premium on creating a successful basis for coexistence. Our findings from this study are therefore expected to have a broad based appeal both to practitioners and academics working in the evolving area of store brands. Store brands are the only brand for which the retailer must take on all responsibility---from development, sourcing, and warehousing to merchandising and marketing. Unlike decisions retailers take about national brands, which in large measure are driven by the manufacturer's actions, the retailer plays a more determinant role in the success or failure of its own label. Based on data from 34 food categories for 106 major supermarket chains operating in the largest 50 retail markets in the U.S., we use regression-based analyses to show that variation in store brand performance across retailers is systematically related to underlying consumer, retailer, and manufacturer factors. The key insights provided by our analysis are as follows: 1 Overall chain strategy in terms of commitment to quality, breadth of private label offerings, use of own name for private label, a premium brand offering, and number of stores consistently enhance the retailer's store brand performance in all categories. Also, the extent to which the retailer serves a customer base containing less wealthy and more elderly households and operates in less competitive markets improves the performance of the store brand. 2 The everyday low price EDLP positioning benefits the store brand but only in lower quality categories where the value positioning of the store may be better aligned with the price advantage of the store brand. 3 Supporting recent statements in the popular press, our analysis suggests that retailer promotional support can significantly enhance private label performance. 4 Retailers often use national brands to draw customers to their stores. Retailers who pursue this traffic building strategy usually carry more national brands, deeper assortments, and offer better everyday lower price gap and promotional prices on national brands. Each of these actions works against the retailer's own brands, highlighting the important balancing act the retailer must perform to profitably manage the sales revenue and margin mix in each of their categories. At the same time, adding a higher quality premium store brand program may mitigate this tradeoff. 5 Unlike cross-category studies, our within-category across-retailer analysis shows that the national brand---private label price differential exerts an important positive influence on store brand performance. 6 When retailers obtain more than their fair share of a category high category development index, they also do much better with private labels. 7 From the national brand's perspective, encouraging the retailer to carry more brands and deeper assortments may be the most effective way to keep store brands in check. The importance of these variables, however, may depend on the national brand's market position. For example, a category leader may be glad to see a rise in store brand share if it comes at the expense of one of its secondary national brand competitors. 8 The exact impact of most of the variables depends on the underlying quality of store brands in a category. When store brand quality is high, competition at the retail and brand level is more important, as are variables capturing economies of scale and scope enjoyed by the retailer. In contrast, demographics associated with consumer price sensitivity and EDLP pricing matter more in low quality categories. 9 Finally, premium store brands offer the retailer an avenue for responding to the national brand's ability to cater to heterogeneous preferences. This appears more likely in categories where store brands already offer high quality comparable to the national brands. We argue that private labels threaten national brands most in categories when there is high variance in share across categories as opposed to high average share per se. In high variance categories, store brand share could increase dramatically if the poor performing retailers imitate best practices. Future research can extend this work in several ways both on the substantive and methodological fronts.

Managing Luxury Brands

Abstract: Although luxury goods form a distinct economic sector in many countries, a certain vagueness still remains over the concepts of luxury and the luxury brand. How does the luxury brand differ from the ‘up-market’ brand or the ordinary brand? Are the differences simply those of degree or inherent in the luxury brand’s nature?

Strategic brand management : creating and sustaining brand equity long term/ Jean-Noël Kapferer

Abstract: Part 1 Understanding brands: what's in a brand? brand identity sources of identity. Part 2 Brand management: creating a brand managing the time factor - identity and change brand extension brand-product relationships the brand portfolio going international. Part 3 The brand in perspective: brand, products, enterprise and institution financial evaluation of brands.

Determinants of store brand choice: a behavioral analysis

Abstract: Understanding the store brand buyer is a central issue for strategic brand management because of the increasing market shares of private label products. Offers an analytical framework and introduces a behavioral approach for understanding what makes consumers more responsive to store products. For the first time, uses panel data in a choice model which is shown to explain actual behavior successfully. Identifies many important determinants of store brand proneness and yields clear implications for marketing managers of both national and retailer brands.

Consumer behaviour : advances and applications in marketing

Abstract: I. INTRODUCTION. 1. Ideas and Explanations. 2. In Consumer Research. I. CONSUMER PATTERNS. 3. Loyalty. 4. Brand Equity and Brand Extension. 5. Stationary Markets. 6. Prices and Sales Promotion. II. REASONS FOR PURCHASE. 7. Attitudes, Beliefs, Intention and Behaviour. 8. Predicting and Explaining Action. III. MECHANISMS OF CHOICE AND CONSUMPTION. 9. Information Processing and Judgement. Satisfaction. 10. Quality and Complaining. IV. APPLICATIONS. 11. The Response to the Retail Setting. 12. The Response to Advertising Issues for Consumer Behaviour. Appendix: Research: Issues and Methods.

Driving brand value : using integrated marketing to manage profitable stakeholder relationships

Abstract: This practical, "hands-on" guide to integrated marketing (IM) shows how it can enable companies to strategically use new database management systems and communication technologies to cost effectively, measure and control what until now has been considered the "intangible" side of business. Areas covered include: how to recognize the seven red flags of Marketing Dis-Integration; the 10 strategic drivers of IM; how to use "Mission Marketing" to achieve corporate goals; how to manage a brand's total "communication package"; and 20 tough questions to ask when looking for an IM agency.

The influence of brand recognition on retail store image

Abstract: Investigates the relationship between brand characteristics ‐ awareness level and image ‐ and their influence on consumers’ perceptions of retail image. Proposes a model of relationships between the number of recognizable brands carried by a retail establishment, the presence/absence of an anchor brand, and perceptions of retail image. Presents the analysis and results of a study designed to test the model. In addition, develops and tests a measure of retail store image. Indicates that one tactic for ensuring a favorable retail store image is a merchandise mix composed of a relatively high number of brands possessing high brand awareness, and one or more brands with a strong brand image. Offers recommendations for both brand and retail managers.

Brand development versus new product development: toward a process model of extension decisions

Abstract: Considers the managerial processes that lead to the launch of successful line and brand extensions. Seeks to clarify the role, if any, that brand equity considerations have in the extension decision process. Uses a case study approach. Data relating to 11 extension launches were collected from major fast‐moving customer goods (FMCG) manufacturers in Europe, the USA, and Australia by The Boston Consulting Group (BCG). The output of the analysis is a set of propositions about the extension process, summarized in the form of a process model. Concludes overall that extension decisions are more about brand development than new product development.

A study of brand equity in an organizational‐buying context

Abstract: Addresses two basic questions: do organizational buyers exhibit brand‐equity behaviors such as the willingness to pay significant price premiums for certain brands; and under what conditions do those buyers place a premium on well‐known brands? Finds significant brand‐equity behaviors, based on hypothetical buying situations, in the form of organizational buyers’ willingness to pay a significant price premium for their favorite brand, make referrals, and extend their brand preference to other products with the same brand name. The better known their favorite brand was, the more likely buyers were to exhibit the three brand‐equity behaviors.

How much of brand equity is explained by trust

Abstract: Brand equity, key to the evaluation of marketing performance, exists in the hearts and minds of consumers, and other marketplace players, but is largely assessed on the basis of observed behaviours. Such measures are typically relative (to other brands) ‐ e.g. market share and relative price ‐ whereas direct measures of brand equity ‐ e.g. awareness and attitudes ‐ are conventionally expressed in absolute terms. The correlation between the two sets has been poor. Expressing brand equity in relational terms opens a new line of research which may provide better performance prediction and assessment. Trust is the most popular measure for relationship assessment and may similarly prove to be the leading indicator for brand equity. Makes some research proposals.

Building Brands Without Mass Media

Abstract: Costs, market fragmentation, and new media channels that let customers bypass advertisements seem to be in league against the old ways of marketing. Relying on mass media campaigns to build strong brands may be a thing of the past. Several companies in Europe, making a virtue of necessity, have come up with alternative brand-building approaches and are blazing a trail in the post-mass-media age. In England, Nestle's Buitoni brand grew through programs that taught the English how to cook Italian food. The Body Shop garnered loyalty with its support of environmental and social causes. Cadbury funded a theme park tied to its history in the chocolate business. Haagen-Dazs opened posh ice-cream parlors and got itself featured by name on the menus of fine restaurants. Hugo Boss and Swatch backed athletic or cultural events that became associated with their brands. The various campaigns shared characteristics that could serve as guidelines for any company hoping to build a successful brand: senior managers were closely involved with brand-building efforts; the companies recognized the importance of clarifying their core brand identity; and they made sure that all their efforts to gain visibility were tied to that core identity. Studying the methods of companies outside one's own industry and country can be instructive for managers. Pilot testing and the use of a single and continuous measure of brand equity also help managers get the most out of novel approaches in their ever more competitive world.

Branding consumer goods: insights from theory and practice

Abstract: Branding may be one of the most important decisions made by marketing managers. Since it is done somewhat sporadically, there are no strict guidelines provided by the companies to assist the managers in this task. Academic research also has not helped. While there is a tremendous amount of descriptive and normative research on the topic, it is somewhat fragmented in nature. Synthesizes findings from descriptive and normative studies on branding in the literature, and also from related fields. Integrates these with their own practical insight to recommend a step‐by‐step approach to building brand names.

Are store brands perceived to be just another brand

Abstract: Proposes two hypotheses and tests them empirically: that consumers do not differentiate between store brands offered by competing stores; that store brand market share is consistent with chain penetration. To test the hypotheses, employs an experimental design using 350 subjects, and collects survey data from 923 respondents regarding store patronage behavior and brand choice. The first hypothesis received unconditional support. The second hypothesis received conditional support. Discusses implications for marketing strategy.

Should you take your brand to where the action is

Abstract: When markets turn hostile, it's no surprise that managers are tempted to extend their brands vertically--that is, to take their brands into a seemingly attractive market above or below their current positions And for companies chasing growth, the urge to move into booming premium or value segments also can be hard to resist The draw is indeed strong; and in some instances, a vertical move is not merely justified but actually essential to survival--even for top brands, which have the advantages of economies of scale, brand equity, and retail clout But beware: leveraging a brand to access upscale or downscale markets is more dangerous than it first appears Before making a move, then, managers should ascertain whether the rewards will be worth the risks In general, David Aaker recommends that managers avoid vertical extensions whenever possible There is an inherent contradiction in the very concept because brand equity is built in large part on image and perceived worth, and a vertical move can easily distort those qualities Still, certain situations demand vertical extensions, and Aaker examines both the winners and the losers in the game Managers may find themselves facing a situation that presents both an emerging opportunity and a strategic threat, and alternatives to vertical extensions may have even higher risks and costs Furthermore, a number of brands have been extended vertically with complete success If after assessing the risks and rewards you conclude that a vertical extension is on the horizon, proceed with caution And keep in mind that your challenge will be to leverage and protect the original brand while taking advantage of the new opportunity

Brands: The New Wealth Creators

Abstract: What is Branding? J.Murphy - The History of Branding A.Room - New Brand Development P.Robertson - Developing New Brand Names S.Hart - Brand Packaging C.Lightfoot & R.Gerstman - Researching Brands K.Campbell - Branding the Corporation S.Mottram - Brands as Intellectual Property J.Fogg - Commercial Counterfeiting V.Carratu - Brands as Financial Assets A.Batchelor - Brand Licensing R.Perrier - Brand Franchising A.Taylor - International Branding B.Tragos - Branding in the European Union J.Murray - Managing Retail Brands M.Jary & A.Wileman - Commodity Branding J.Pope, D.Cullwick & J.Kennelly - Branding in the Pharmaceutical Industry A.Milligan - Brand Revitalisation and Extension D.Andrew - Managing the Brand A.Seth - The Future for Brands S.Hart

An Empirical Study of the Effect of Brand Proliferation on Private Label -National Brand Pricing Behavior

Abstract: This paper investigates the competitive pricing interaction between national brand and private label food products, focusing on the effect of brand proliferation. IRI scanner data from 1991 and 1992 for 135 food product categories and 59 geographic markets are used. Empirical findings are grouped into three categories: i) price, promotion and competitive effects, ii) brand proliferation and entry deterrence, and iii) local market effects. Results indicate that both private label and national brand reaction functions are positively sloped and asymmetric. Successful private label penetration, as measured by total private label share, lowers the average price of national brands. The paper's central finding is that the impact of brand proliferation on market pricing behavior is multi-dimensional. First, an increase in the number of brands increases the ability of national brand manufacturers to raise price. Second, the effectiveness of a brand proliferation strategy depends upon the distribution of market share. The more concentrated the brand structure, the lower the market price of national brands. Thus, the net effect of brand proliferation strategies is dependent upon not only the number of brands, but upon the actual distribution of brand shares. Finally, local market conditions play only a small role in the competitive interaction between private labels and national brands.

Discovering brand magic: the hardness of the softer side of branding

Abstract: While there is clearly consensus that brands are valuable assets, there is less agreement as to the extent of that value. It might appear that brands have not been flavour of the month since Marlboro Friday, in 1993, when that brand announced a 20 per cent price cut. This article will examine the evidence of the value of brands from a financial point of view. More importantly, however, we will explore a key driver of that financial value which we call ‘Brand magic’. We argue that functional excellence is fast becoming a necessary but not sufficient attribute of strong brands. Instead, we suggest that brand strength depends far more upon developing a unique, vivid and meaningful identity for a brand.

Modeling Multiple Category Brand Preference with Household Basket Data

Abstract: Household basket data contain important information about the structure of brand preferences both within and across product categories. This research exploits the information in long-run basket summary data to segment consumers with respect to brand preferences. The approach provides insights into the competitive structure of brands within each product category and identifies potential synergies across product categories. The model is applied in an analysis of retailer and national brand name preferences for four paper goods categories. We discuss implications for joint promotion, product bundling and product assortment decisions.

Brand assessment: a key element of marketing strategy

Abstract: The growing importance of the brand in the life of the company and in consumer perceptions has led many authors to base their analysis on brand value rather than the traditional approach in which its definition, its functions and its characteristics were amply developed. It is becoming increasingly obvious that the brand generates value for the company: brand value is the value of the marginal cash flows generated by a product due to the fact that it is identified with a brand. Brand value is generated by a series of multidimensional assets which interact in a complex way: loyalty; awareness; perceived quality; and identity. One of the main problems for a company wishing to develop a brand strategy is how to quantify this value. Studies the different methodologies available for this evaluation and distinguishes between financial and marketing methods. Concludes that marketing methods are worth greater consideration, since they give a wider vision of brand value by considering the consumer’s perspective and not only objective issues.

Retail power plays : from trading to brand leadership : strategies for building retail brand value

Abstract: THE GROWTH OF RETAIL POWER - Retail Value Chain Power and its Limits - Retail Brand Power: The Next Challenge - RETAIL BRAND STRATEGIES - Applying Core Marketing Concepts: Segmentation and Differentiation - Repertoire Retailers - Proximity Retailers - Category Killers - Grocery - Services - INVESTMENT IN BRAND VALUE - Store Brands and Private Label - The Supply Chain and Supplier Relationships - Direct Customer Relationships - Mass Marketing - The Four Pillars: Store, Range, Price and Services - Brand Integrity and a Brand Culture - FROM TRADING TO BRAND MANAGEMENT: MAKING THE CHANGE - Leadership: The Roles of the CEO and Senior Management - Developing the Change Programme - Brand Management in Place: Organisation, Skills, Processes, Systems - Problems and Conflicts - WIDER HORIZONS - Brand Growth: Push, Pull and Stretch - Making Retail Brands International - Retail Diversification - The Producer Perspective - LOOKING FORWARD - Retail Brands and Shareholder Value Creation - Retailing in the 21st Century: Global Retailers and Interactive Consumers - The Future for Retail Brand Power

Varumärket som strategiskt konkurrensmedel - Om konsten att bygga upp starka varumärken

Abstract: In recent years the importance of strong brands has come very much into focus both among theoreticians and practitioners. In order to gain a better understanding of the nature of brand strength, I have chosen to analyse the branding process. The overriding aim of this analysis is to develop a theoretical framework and typology with which to facilitate our understanding of how powerful brands can be created. As the theoretical starting point of the study, the brand is discussed from the perspective of strategic management and brand management. This discussion leads to the development of a framework which describes branding as a value-adding process aiming at creating and managing brand equity. This process is conceived as six consecutive steps which are represented by the following key concepts: product attributes, brand identity, core values, positioning, market communication and internal brand loyalty. In order to gain a greater insight into how branding can create a sustainable competitive advantage, the brand building process is studied in the cases of Nicorette, Arla and Findus. On the basis of the empirical information provided by these case studies, the theoretical framework is further developed, with the introduction of several new concepts and models. These are summarised by the conceptual model called brand mix, which provides a general picture of the competence required to build strong brands. In order to be able to create and manage brand equity successfully, it is important to establish favourable conditions for branding. This requires a brand orientation of an organisation. Such a process is described by the conceptual model called brand refinement, the objective of which is to provide guidance in the art of building strong brands. (Less)

Quality labeling as instrument to create product equity: The case of IKB in the Netherlands.

Abstract: In response to the problems associated with intensifying competition and slow growth in the demand for food, European businesses increasingly attempt to add value to the agricultural raw material. To adopt a successful differentiation strategy, they must make the transition from the well-known product-oriented approach to marketing (based on homogenization, and cost minimization through economies of scale) to a consumer-oriented approach (identifying and meeting the needs of particular groups of consumers). The best performing companies demonstrate an unwavering focus upon the market place and relate all their operating decisions to the dictates of customer needs. The strategic reorientation of agribusiness coincides with consumer trends demanding higher quality than ever before. Therefore, differentiation on product attributes that consumers deem important may be a viable strategy to agribusiness.

Brand naming in China: a linguistic approach

Abstract: Brand names contribute to product success. Studies on brand naming have been mainly conducted in western countries with western European languages and few researchers have focused on how cultural and linguistic diversity is related to brand naming. Attempts to fill the gap by investigating the linguistic content of brand names in the People’s Republic of China. Analyses over 500 brand names of Chinese award‐winning products. Generalizes the characteristics of Chinese brand naming and identifies the preferred syllabic, tonic, semantic and morphological structures. Aims to provide guidance to local marketers to generate a good Chinese brand name in their culture and international marketers to properly localize an international brand in Chinese words in order to enhance business success in the Chinese market.