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

Strategic Brand Management: Building, Measuring, and Managing Brand Equity Fifth Edition, Global Edition Chapter 10 Measuring Sources of Brand Equity: Cap...

Strategic Brand Management: Building, Measuring, and Managing Brand Equity Fifth Edition, Global Edition Chapter 10 Measuring Sources of Brand Equity: Capturing Customer Mind-Set Copyright © 2020 Pearson Education Ltd. All Rights Reserved Learning Objectives (1 of 2) 10.1 Describe effective qualitative research techniques for tapping into consumer brand knowledge 10.2 Identify effective quantitative research techniques for measuring brand awareness, image, responses, and relationships 10.3 Outline how big data can help with understanding brand perceptions and brand positioning Copyright © 2020 Pearson Education Ltd. All Rights Reserved Learning Objectives (2 of 2) 10.4 Explain the role of social media monitoring “control rooms” as a marketing research tool 10.5 Profile and contrast some popular brand equity models Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-1: Understanding Consumer Behavior Who buys our product or service? Who makes the decision to buy the product? Who influences the decision to buy the product? How is the purchase decision made? Who assumes what role? What does the customer buy? What needs must be satisfied? Why do customers buy a particular brand? Where do they go or look to buy the product or service? When do they buy? Any seasonality factors? What are customers’ attitudes toward our product? What social factors might influence the purchase decision? Does the customers’ lifestyle influence their decisions? How is our product perceived by customers? How do demographic factors influence the purchase decision? Copyright © 2020 Pearson Education Ltd. All Rights Reserved Qualitative Research Techniques Free Association Projective Techniques Zaltman Metaphor Elicitation Technique Neural Research Methods Brand Personality and Values Ethnographic and Experiential Methods Copyright © 2020 Pearson Education Ltd. All Rights Reserved Free Association Simplest and often most powerful way to profile brand associations Subjects are asked what comes to mind when they think of a brand – No more specific probe or cue than perhaps the associated product category Used mainly to identify the range of possible brand associations in consumers’ minds Answers help marketers clarify the range of possible associations and assemble a brand profile Copyright © 2020 Pearson Education Ltd. All Rights Reserved Projective Techniques (1 of 2) Diagnostic tools to uncover the true opinions and feelings of consumers when: – Unwilling or otherwise unable to express themselves on these matters Present consumers with ambiguous stimulus and ask them to make sense of it Copyright © 2020 Pearson Education Ltd. All Rights Reserved Projective Techniques (2 of 2) Completion and Interpretation Tasks – Classic projective technique ▪ Use incomplete or ambiguous stimuli to elicit consumer thoughts and feelings Comparison Tasks – Ask consumers to convey impressions by comparing brands to: ▪ People, countries, animals, activities, fabrics, occupations, etc. Copyright © 2020 Pearson Education Ltd. All Rights Reserved Zaltman Metaphor Elicitation Technique (1 of 2) Uncovers hidden consumers’ knowledge – “a technique for eliciting interconnected constructs that influence thought and behavior” ▪ construct refers to “an abstraction created by the researcher to capture common ideas, concepts, or themes expressed by customers” Copyright © 2020 Pearson Education Ltd. All Rights Reserved Zaltman Metaphor Elicitation Technique (2 of 2) ZMET study starts with a group of participants – Asked in advance to think about the research topic ▪ Collect a set of images from their own sources that represent their thoughts and feelings about the research topic – Bring images with them for a one-on-one interview – When interviews are complete ▪ Researchers identify key themes or constructs, code the data, and assemble a consensus map of the most important constructs Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-3: Application of ZMET to Intimate Apparel Market Copyright © 2020 Pearson Education Ltd. All Rights Reserved Neural Research Methods Neuromarketing – Study of how the brain responds to marketing stimuli, including brands Research indicates that consumer buying decision is a unconscious habitual process Some firms apply sophisticated techniques: – EEG (electroencephalogram) technology – Functional magnetic resonance imaging (fMRI) Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Personality and Values Brand personality – Human characteristics or traits that consumers can attribute to a brand The big five: factors (with underlying facets) of brand personality: – Sincerity – Excitement – Competence – Sophistication – Ruggedness Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-4: Brand Personality Scale Measures Copyright © 2020 Pearson Education Ltd. All Rights Reserved Ethnographic and Experiential Methods Researchers are tapping more directly into consumers’ actual home, work, or shopping behaviors – This may help elicit more meaningful responses Ethnographic researches uses “thick description” based on participant observation Extract and interpret the deep cultural meaning of events and activities Copyright © 2020 Pearson Education Ltd. All Rights Reserved Quantitative Research Techniques Brand Awareness Brand Image Other Approaches Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Awareness Related to the strength of the brand in memory – Reflected by consumers’ ability to identify various brand elements Describes the likelihood that a brand will come to mind in different situations – Recognition – Recall – Corrections for guessing – Strategic implications Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Image Associations that consumers hold for a brand Useful for marketers to make a distinction between: – Lower-level considerations (performance and imagery) – Higher-level considerations (judgments and feelings) Beliefs – Descriptive thoughts that a person holds about something Copyright © 2020 Pearson Education Ltd. All Rights Reserved Other Approaches More complicated quantitative technique to assess overall brand uniqueness – Multidimensional scaling (MDS), or perceptual maps ▪ Procedure for determining the perceived relative images of a set of objects, such as products or brands ▪ Transforms consumer judgments of similarity or preference into distances represented in perceptual space Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-8: Hypothetical Restaurant Perceptual Map Copyright © 2020 Pearson Education Ltd. All Rights Reserved Social Media Listening and Monitoring Social media monitoring – Fast-growing and increasingly specialized area of marketing research Dashboard – Summary of key statistics associated with a brand – May include: ▪ Number of engagements of brand messages across various social media platforms ▪ Sentiment associated with social media messages ▪ Topics that are related to a brand ▪ Lists of keywords that are associated with a brand Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Responses Purchase Intentions Likelihood to Recommend Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Relationships (1 of 2) Characterized in terms of brand resonance and measures for following key dimensions – Behavioral loyalty – Attitudinal attachment – Sense of community – Active engagement Copyright © 2020 Pearson Education Ltd. All Rights Reserved Brand Relationships (2 of 2) Behavioral Loyalty Attitudinal Attachment Sense of Community Active Engagement Fournier’s Brand Relationship Research Copyright © 2020 Pearson Education Ltd. All Rights Reserved Comprehensive Models of Consumer- Based Brand Equity BrandDynamics – Bonding – Advantage – Performance – Relevance – Presence Relationship to the CBBE model – Five sequenced stages of Millward Brown’s BrandDynamics model to the four ascending steps of the CBBE model Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-13: Summary of Qualitative and Quantitative Measure I. Qualitative Research Techniques B. Brand Image Free association Open-ended and scale Adjective ratings and checklists measures of specific brand Projective techniques attributes and benefits Photo sorts Strength Bubble drawings Favorability Story telling Uniqueness Personification exercises Overall judgments and feelings Role playing Overall relationship measures Experiential methods Intensity Activity II. Quantitative Research Techniques A. Brand Awareness Direct and indirect measures of brand recognition Aided and unaided measures of brand recall Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-14: Four Pillars Assess Brand Health, Development, and Momentum Copyright © 2020 Pearson Education Ltd. All Rights Reserved Figure 10-15: Pillar Patterns Tell a Story Source: BrandAsset Consulting. Used with permission. Copyright © 2020 Pearson Education Ltd. All Rights Reserved