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Chapter 10

Chapter 10.docx

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Department
Marketing
Course
MKT 510
Professor
Ida Berger
Semester
Fall

Description
Chapter 10— Measuring Outcomes of Brand Equity  ideally, to measure brand equity we would create: brand equity index o one easily calculated number that would summarize the health of the brand & capture its brand equity  measuring brand equity o Multi-dimensional concept o Many different measures required o The ultimate value of a brand depends on the underlying components of brand knowledge & sources of brand equity o The ultimate value of a brand resides in its power to provide shareholder returns Comparative Methods  Comparative methods: research studies or experiments that examine consumer attitudes & behaviour toward a brand to directly estimate the benefits arising from having a high level of awareness & strong, favourable, & unique brand associations  We use comparative methods to approximate specific benefits of brand equity  two types o brand based comparative approach o marketing based comparative approach  then there is a technique that combines the twoconjoint analysis Brand-based comparative approaches  brand-based comparative approaches: use experiments in which one group of consumers responds to an element of the marketing program or some marketing activity when it is attributed to the target brand, & another group responds to that some element or activity when it is attributed to a competitive or factiously named brand  holds the marketing program fixed & examines the consumer response based on changes in brand identification  Application example: Blind testingresearch studies in which consumers examine or use a product with or without brand identification  Advantages: o Isolates the value of the brand o We could study almost an infinite amount of marketing activities  Limited only by a number of different applications  Disadvantage: o The totality of what is learned depends on how many applications are examined. o If the marketing activity under consideration is already strongly identified with the brand it may be difficult to attribute some aspect of the marketing program o Sacrifice some realism in order to gain sufficient control to isolate the effects of brand knowledge Marketing-based comparative approaches  Marketing-based comparative approaches: use experiments in which consumers respond to changes in elements of the marketing program or marketing activity for the target brand or competitive brands  Holds the brand fixed & examines consumer responses based on changes in the marketing program  Applications: Explore price premiums’ effect on switching, consumer evaluations of marketing activities, brand extensions, etc.  Advantage: Ease of implementation  Disadvantage: Difficult to determine whether consumer responses are caused by brand knowledge or generic product knowledge Conjoint analysis  Conjoint analysis: A survey-based multivariate technique that enables marketers to profile the consumer decision process with respect to products & brands  By asking consumers to express preferences or choose among a number of carefully designed product profiles, researchers can determine the tradeoffs consumers are making between various brand attributes, & thus the importance they are attaching to them o Helps researchers determine the trade-offs consumers make between brand attributes  Part worth: the value consumers attach to each attribute level, as statistically derived by the conjoint formula o ex. One attribute is the brand name, the part worth for the “brand name” attribute reflects its value  Applications: Assess advertising effectiveness & brand value; analyze brand/price trade-off  Advantage: o Allows for different brands or different aspects of the product to be analyzed simultaneously o We can uncover info about consumers responses to different marketing activities for both the focal & competing brands  Disadvantage: o May violate consumers’ expectations based on what they already know about brands o Can be difficult to specify & interpret brand attribute levels Holistic methods  Holistic methods: Attempts to place an overall value on the brandin either abstract utility terms or
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