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Chapter 10 Measuring Outcomes of Brand Equity.docx

2 Pages
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Department
Marketing
Course Code
MKT 510
Professor
Ida Berger

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MKT510 Innovations In Marketing CHAPTER 10 Measuring Outcomes of Brand Equity: Capturing Market Performance COMPARATIVE METHODS  Comparative methods: research studies or experiments that examine consumer attitudes and behaviour toward brand to directly estimate specific benefits arising from having high level of awareness and strong, favourable, and unique brand associations Brand-Based Comparative Approaches  Brand-based comparative approaches: uses experiments in which one group of consumers responds to element of marketing program or when it is attributed to target brand, and another group responds to same element or activity when it attributed to competitive or fictitiously named brand o Holds marketing program fixed and examines consumer response based on changes in brand identification  Exemplar: consumer may interpret marketing activity for fictitiously named or unnamed version of product or service in terms of general product category knowledge, they may have particular brand  Applications include “blind testing” to determine brand equity benefits related to price margins and premiums  Main advantages is that it holds all aspects of marketing program fixed, it isolates value of brand in a very real sense Marketing-Based Comparative Approaches  Marketing-based comparative approaches: uses experiments in which consumers respond to changes in brand elements of marketing program or marketing activity for target brand or competitive brand o Holds brand fixed and examines consumer response based on changes in marketing program  Applications include dollar metric measure (step-by-step increase of price different between brand normally purchased and alternative brand), assessing consumer response to different advertising strategies, executions, or media plans through multiple test markets, and explore potential brand extensions (collecting evaluations describing brand extension candidates) Conjoint Analysis  Conjoint analysis: survey-based multivariate technique that enables marketers to profile consumer decision process with respect to products and brands  Part worth: value consumers attach to each attribute level, as statistically derived by conjoint formula  Application includes brand/price trade-off reveals how much their brand loyalty is worth and which brands they would relinquish for a lower price HOLSITIC METHODS  Holistic methods: place overall value on brand in either abstract utility terms or concrete financial terms o Attempts to “net out” various considerations to determine unique contribution to the brand Residual Approaches  Residual approach: examines value of the brand by subtracting consumers’ preferences for the brand – based on physical product attributes alone – from overall brand preference o Controlling certain aspects of marketing mix and measuring observations of consumers as a function of store environment, physical characteristics of available brands, and residual term dubbed brand equity  Choice experiments account for brand names, product attributes, brand image, and differences in consumer socio- demographic characteristics and brand usage  Equalization price: price that equates utility of brand to utilities that could be attributed to brand in category where no brand differentiation occurred  Multi-attribute model: measure brand equity that reveals relative sizes of difference bases of brand equity by dividing into three components (brand awareness, attribute perception biases, and non-attribute preference o Attribute-perception biased component: difference between subjectively perceived attribute values and
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