Purpose
This paper aims to introduce the concept of consumer-based brand value (CBBV), a change in the perspective of brand-equity and brand value from one where the brand is considered separately ...from other brands. The purpose of this paper is threefold: highlighting the theoretical difference between brand equity and brand value (Raggio and Leone, 2007); conceptually linking brand equity with brand value and then with brand competitiveness; and demonstrating a straightforward method for scholars and practitioners to measure brand value and then to forecast and simulate brand competitiveness.
Design/methodology/approach
On a sample of 190 postgraduate students, the authors apply the conjoint analysis and best-worst scaling to illustrate our CBBV model. Following Keller (1993), the authors operationalise brand equity as the outcome of consumers’ internal mental processes, in the form of brand preference, and show how preferences data can be transformed into estimates of brand value in the form of price premium. Finally, the model allows market share simulation based on manipulation of branding and brand features.
Findings
The paper is more a conceptual piece, highlighting the distinction between brand equity and brand value. It also demonstrates a relatively new measurement technique for transforming measures of brand equity, in the form of brand preferences, into estimates of brand value. The paper used airlines as a service-provider example, but the technique can be applied to many hospitality and service environments.
Research limitations/implications
The study demonstrates how brand equity drives brand value via consumer utility, and proposes a CBBV–competitiveness chain. The authors convert individual consumer preference data to brand value with subsequent preference-based market segmentation, and estimate competitiveness in two ways: market share
ceteris paribus
and price premium for brand indifference. They also demonstrate how market simulation can be performed so that it allows forecasting of competitiveness (market share) based on product attributes that affect brand value.
Practical implications
The CBBV–competitiveness chain constitutes a (new) mindset in the marketing of hospitality, tourism and other services. The study provides a method to measure and test the components of this model and determine brand competitiveness. It used airlines in the example, but the method can be applied to many different settings such as, for example, hotel management group (Starwood, Accor, Intercontinental, Hilton). The authors show how the method allows for benefit-based market segmentation, market-share forecasting and estimation of price premium.
Originality value
The CBBV chain provides a conceptual link between brand equity, brand value and brand competitiveness. When equity and related constructs are often conceptualised as relative to competition, they are rarely actually measured in that manner. The study shows how brand equity measured as preferences can be transformed into brand value and competitiveness relative to the competition. The combination of conjoint analysis and best–worst scaling is relatively new to the hospitality and services industries. The authors show that these tools can be applied to these industries without depending on costly software or high-priced consultants.
Purpose: This research aims to verify the extent of the impact of nostalgia marketing as an effective and modern strategy on the brand value.
Theoretical framework: the research is to shed light on ...an important and fundamental aspect of marketing, which is fashion marketing, and how stores that are interested in fashion can follow modern and basic strategies in maximizing the value of their brand.
Design/methodology/approach: The researcher targeted a sample of (760) customers who frequent the different branches of LC Waikiki, and used the questionnaire as a means to collect information from customers, and the researcher used (SPSS) program to analyze the data
Findings: The most important thing that has been reached is that nostalgia marketing is an effective and basic strategy for LC Waikiki store branches in Iraq that it uses to maximize the value of its brand and targets people who have specific affection and memories for clothing brands.
Research, Practical & Social implications: The research examines an important basic angle, which is fashion marketing, and because of its effects on the social reality in Iraq, and due to the large number of fashion trades, it has become necessary to find different strategies to implement them in order to reach success.
Originality/value: Examination of a quantitative theoretical framework and data analysis based on advanced statistical methods, and arriving at a set of results for one of the most modern concepts, which is nostalgic marketing.
The role of brand value in driving brand competitiveness has recently received attention from marketing scholars like Winzar, Baumann, and Chu (2018). From the perspectives of marketing and strategic ...orientation, we propose and test a framework that depicts the effects of these variables on brand competitiveness. Development of the framework was achieved by synthesising existing research from the marketing and management streams. A convenience sample of 374 retailers who worked with the brand as its business customers completed a survey questionnaire. Structural Equation Modelling (SEM) was employed to test the proposed model. We found that brand value, created for business customers, indirectly enhances brand competitiveness through marketing orientation, albeit not directly. Moreover, brand differentiation directly and positively influences brand competitiveness in addition to building brand value. Our study is one of the initial attempts to explore the capability of brand value to bring together market orientation and strategic orientation for brand competitiveness and also extend the periphery of current knowledge about the variables that drive the competitiveness of a brand.
Theoretical background: The attributes of a luxury brand include both the physical characteristics of the product and the symbolic values that the brand provides to the consumers. Symbolism is ...interpreted as prestige, beauty, charisma, the creation of which requires larger and more time-consuming efforts than just producing a unique, expensive, high-quality product. An important aspect of a reliable, trustworthy image is the history of the brand and its creators. In the opinion of many authors, it is an important element of the brand’s value, not only shaping its luxurious image, but also providing psychological values. Although history is not always indicated directly among the attributes of luxury brands, it is the basis of other values ascribed to them. The luxurious nature of the brand is often defined in the literature through the prism of its symbolism, an important element of which is history, along with heritage and country of origin. A prestigious heritage is built and maintained in time and culture by brands that are embedded in historical notions of luxury. As a result of associations with the heritage, brand is perceived as the highest quality, unique and authentic one. Symbolism, heritage and the history of a luxury brand are related to emotional qualities of personal indulgence and self-expression. Purpose of the article: The aim of the article is to verify the importance of the history of the brand in the process of shaping the value of a luxury brand in the perception of consumers. Research methods: A total of 203 valid responses were collected from wealthy respondents declaring monthly income over PLN 20,000 gross. An analysis of the results of the study was carried out, as well as an analysis of the literature. Main findings: In the era of dynamic development of new technologies, unpredictable changes in consumer expectations towards companies and their offers, it turns out that history, heritage and attachment to tradition are highly valued by consumers of luxury goods. They shape a higher level of trust, both in the company’s brand and its products, and increase the consumers purchase willingness. Companies that can boast of long history should undoubtedly communicate it intensively and care about providing consumers not only with basic values related to the product itself, but also symbolic values, which are particularly important for consumer of luxury goods. History and the heritage of a luxury brand constitute one of the essential elements of the brand’s value and should also be treated as such by companies.
•Crowdsourcing (CS) is a form of open innovation that involves dispersed individuals.•We investigate the effects of CS on firm stock market performance (FSMP).•Our event study examines the boundary ...conditions under which CS benefits FSMP.•With high brand value and investment opportunities, CS is beneficial for FSMP.•We lay the foundations for improving our understanding of when CS benefits FSMP.
Crowdsourcing is a particular form of open innovation (OI) that aims to boost idea-generation in innovation processes. The underlying rationale is that the collective intelligence of a large number of contributors outside the firm’s boundaries increases the likelihood of achieving ‘extreme outcomes’, i.e., high quality ideas with exceptional business potential. Due to the idiosyncrasies that differentiate crowdsourcing from other forms of OI, the findings from prior research on the performance implications of OI cannot be directly extended to crowdsourcing. Similarly, the findings on the effect of internal R&D on firm performance cannot be directly applied to crowdsourcing due to the greater uncertainty in dealing with a crowd of unknown individuals outside the organization whose ideas have to be evaluated and ultimately processed internally. Thus, while crowdsourcing research has recently burgeoned, it is ambiguous as to whether and when crowdsourcing is beneficial for firms. In fact, the overall effect of crowdsourcing on a firm’s future profits has not been thoroughly investigated. To fill this gap, we conducted an event study analyzing stock market reactions to crowdsourcing announcements, a forward-looking market-based measure able to isolate the effect of crowdsourcing on a firm’s future profits, which we refer to as firm stock market performance. Drawing on the resource-based view, we argue that an external crowd can become a valuable resource if the firm is able to extract value from it. Our findings show that two key contingency factors, i.e., brand value and investment opportunities, determine the boundary conditions that enable firms to extract value from the crowd, resulting in a positive stock market reaction to the announcement of a crowdsourcing campaign. In addition to advancing scholarly knowledge on crowdsourcing, our results provide practitioners with relevant indications for profitable crowdsourcing campaigns.
A model of brand value co-creation by integrating its the antecedents of interactivity, social support, and relationship quality is proposed. Empirical data was collected from the brand pages of a ...social networking website in China. Structural equation modeling was adopted to analyze the data. The results demonstrate that interactivity, specifically, consumer-consumer interaction and consumer-seller interaction, positively affects social support, which in turn enhances consumers’ intention to co-create brand value. The research contributes to the extant literature by providing an underlying understanding of how customers engage in brand value co-creation activities within social commerce context.
•A model of brand value co-creation in social commerce is proposed.•Interactivity in social commerce positively affects social support.•Brand value can be created by social support and relationship quality.
China apparel customization brands (CACBs) have been recently growing in massive quantities despite being in their infancy stages of brand value building. Although scholars have proven brand value's ...importance in sustainable brand growth, studies on the specific context of CACBs are still limited. This research proposes a conceptual framework of CACBs' brand value measured dimension based on previous studies and divides brand value into both general and specific dimensions. Accordingly, qualitative (semi-structured interviews) and quantitative (online survey) studies were conducted from the perspectives of practitioners and consumers. Ultimately, a scale of 30 items with nine dimensions was generated. Results reveal that brand association in the general dimensions and brand service in the special dimensions were the largest promoters of CACB brand value. Hence, practitioners should pay more attention to dimensions of cognitive conflicts. Practical suggestions for apparel customization marketers are proposed to build and enhance brand value.
Despite an increasing amount of research on co-creation of value, in general, research on brand value co-creation remains limited. Particularly, how much value customers contribute to the brand value ...co-creation process remains unclear. This research develops in a series of eight studies the Customer Co-Creation Value (CCCV) measurement scale that helps firms assess the value of customers in the brand value co-creation process. The findings reveal that CCCV is a multidimensional construct consisting of two higher-order factors and seven dimensions: customer-owned resources (including brand knowledge, brand skills, brand creativity, and brand connectedness) and customer motivation (comprising brand passion, brand trust, and brand commitment). Further, the CCCV scale reliably and validly gauges the value customers contribute to a firm's brand. The CCCV framework helps marketing managers understand how customers can contribute to a firm's brand value co-creation efforts and how much value customers contribute to a brand in the co-creation process.
The purposes of this study are to investigate the impact of brand value on business performance and to examine whether the impact of brand value on business performance differs between high and low ...product involvement. Based on the top 100 brands ranked by Interbrand in 2021, linear regression analysis and moderation analysis by SPSS and AMOS were used to examine our proposed hypotheses. The results showed that brand value had a significantly positive effect on business performance. The findings imply that stronger brand valuation impacts are associated with companies that do better financially. In other words, business revenue is significantly determined by a higher brand valuation. The result of the moderation effect reveals that product involvement moderates the effect of brand value on business performance in such a way that the association between brand value and business performance is stronger in low-involvement products than in high-involvement products. The findings validate the notion that a marketer's endeavors toward brand investments constitute a noteworthy origin of activity that adds value. Our study is one of the first to investigate, using empirical data on leading brands across several industries, the impact that brand value can have on business performance. It also broadens the scope of existing understanding regarding the moderating effect of product involvement in regulating a brand's effectiveness. Doi: 10.28991/HIJ-2024-05-01-06 Full Text: PDF
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