Brand management

4/28/2011

LITERATURE REVIEW ON MANAGING BRAND IMAGE OF SERVICES

GUIDED BY PROF. HARESH VAISHNANI

SUBMITTED TO SMT. R. D. GARDI DEPARTMENT OF BUSINESS MANAGEMENT SAURASHTRA UNIVERSITY RAJKOT

PREAPER BY

R.No. Name
11. 12. 13. 14. 15. 16. 17. 18. 19. 20. DHRANGAD PRADIP GADHIA VAISHALI GAMIT MAHESH GAMIT SHITAL GANATRA RACHANA GINOYA PARUL GOHEL SEEMA HADIYEL JALPA HATHILA RADHIKA JADAV HARESH

CONTENT

1. Introduction

2. Meaning

3. Definition

4. View of researcher

5. Conclusions of researcher

6. bibliography

INTRODUCTION
A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. A legally protected brand name is called a trademark.

Concept:
Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them). Some people distinguish the psychological aspect, brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand, of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the companies providing them. People engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. The art of creating and maintaining a brand is called brand management. Consumers may look on branding as an important value added aspect of products or services.

Meaning:
Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional view and not just a mental image. Brand image is nothing but an organizations character. It is an accumulation of contact and observation by people external to an organization. It should highlight an organizations mission and vision to all. The main elements of positive brand image are unique logo reflecting organizations image, slogan describing organizations business in brief and brand identifier supporting the key values. Brand image is the overall impression in consumers mind that is formed from all sources. Consumers develop various associations with the brands. Based on theses associations, they formed about the brand on the basis of subjective perceptions of associations bundle that the consumers have about the brand. Volvo is associated with safety, Toyato is associated with reliability. According to Lassar, Mittal and Sharma (1995), five dimensions configure brand Equity: performance, value, social image, trustworthiness, and commitment. Aaker and Joachimsthaler (2000) define brand equity as brand assets linked to a brands name and Symbol that add to, or subtract from a product or service. According to them, these Assets, shown in Figure, can be grouped into four dimensions: brand awareness, Perceived quality, brand associations, and brand loyalty.

Figure

Brand Equity:

Aaker and Joachimsthaler 2000 These dimensions have been commonly used and accepted by many researchers (Keller 1993; Motameni and Shahrokhi 1998; Yoo and Donthu 2001; Bendixen, Bukasa, and Abratt 2003; Kim, Kim, and An 2003). Brand awareness affects perceptions and taste: People like the familiar and are prepared to ascribe all sorts of good attitudes to items those are familiar to them (Aaker and Joachimsthaler 2000).

Perceived quality Influences brand associations and affects brand profitability. Brand associations are anything that connects the consumer to the brand, including user imagery, product attributes, organizational associations, brand personality, and symbols. Brand Loyalty is at the heart of brands value. The concept is to strengthen the size and Intensity of each loyalty segment. Any way that brand equity is considered, it Can be understood as the incremental value a brand name grants a product (Srivastava And Shocker, 1991).

DEFINITION

Brand Image is defined as Consumer Perception as reflected by the association, they hold in their minds when they think of products or service brands. Dave Dolak

The identity of a goods or services as perceived by consumer. For example, Toyota Vehicles are generally perceived as highly reliable. A brand may have multiple images of varying importance. (Business.yourdictionary.com)

Brand Image depends on brand awareness. Actual quality and general characteristics of product are not the part of Brand Image Definition. The impression in the consumers mind of a brands total personality (real and imaginary qualities and shortcomings). Brand image is developed over time through advertising campaigns with a consistent theme, and is authenticated through the consumers direct experience.

BRAND IMAGE is the view held by consumers about a particular brand of good or service. The stronger the brand image the more inelastic the demand for the product is likely to be.

VIEW OF RESEARCHERS

Title: CONSTRUCTION OF TELECOM BRAND IMAGE MODEL Author: Jing Li Yongsheng Jin He Bu, Econ. & Manag. Sch. Beijing Univ. of Posts & Telecomm. (Beijing) China Year: 2010

Based on the literature review of traditional brand image model, the author concluded two models for managing brand image of telecom services based on free association method to make empirical analysis and form telecom brand image model. Two conclusions which were drawn are: (1) Telecom brand image is an organized and ordered system which is consisted of multiple dimensions. These dimensions belong to product function, meaning & company and code. (2) Dimensions of telecom brand image have both common points and individual points compared with consumer goods.

Title: STRATEGIES FOR MANAGING BRANDS OVER TIME Author: Meenakshi Gautam (Professional report submitted for completion of master in advertising University of Taxes at Austin).

According to her research, the pivotal relationship is that between brand and the consumer and like any other relationship it needs familiarity excitement and understanding of future. She has found several issues which are part of larger issues of understanding and managing brand in long term, they are: understanding and fostering role of employees as brand champion, managing change and moving from brand awareness to brand knowledge usage and loyalty. The three key characteristics that a brand should possess to be able to garner consumer mind share in the long run are those of: Clarity, Consistency and Leadership

Title: MANAGING BRANDING AND CORPORATE IMAGE FOR LIBRARY AND

INFORMATION SERVICE

Author: Jennifer Rowley (School of Management and Social Sciences, Edge Hill University College, Ormskirk, UK) Year: 1997 Suggests that the creation of a brand is an important element of the promotional process, and is central to the use of promotion to convey a consistent message to customers about the nature of the organization and its products. Defines the nature of a brand and of associated concepts, such as corporate identity and corporate image. Identifies the benefits and disadvantages of branding. Explores an approach to the creation of a brand for a library and information service.

Title:

POWER

BRAND:

MEASURING,

MAKING

AND

MANAGING

BRAND

SUCCESS(2007)

Author: Riesenbeck, jesko perrey Year: 2007

In a survey of 6000 banking customers from 10 different European countries, respondents rated the brand as the second most important decision making criterion when choosing a bank. Further, more customer are willing to pay higher price and fees for branded banking services.

For a Standard Commodity such as a Current account for some strong branded banks are able to charge more than twice as much as their lesser Competitions. No wonder that peter wuffli former CEO of UBS, said, In the Financial service Industries strong brand is corganic critical. Its one of the major factors that attracts Clients: Strengthening & simpliduring our brand identity & systematically part of our organic growth drive.

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Title: STRATEGIC BRAND CONCEPT-IMAGE MANAGEMENT Author: C. Whan Park, Bernard J. Jaworski, & Deborah J. Macinnis (Journal of marketing, vol-50) Year: October 1986

Conveying a brand image to a target market is a fundamental marketing activity. The authors present a normative framework, termed brand concept management (BCM), for selecting, implementing & controlling a brand image over time. The framework consists of a sequential process of selecting, introducing, elaborating & fortifying a brand concept.

The concept guides positioning strategies. The method for maintaining this concept-image linkage depends on whether the brand concept is functional, symbolical or experiential. Maintaining this linkage should significantly enhance the brands market performance.

Communicating a brand image to a target segment has long been regarded as an important marketing activity (Gardner & Levy, 1955). In their classic paper, Gardner &Levy wrote that the long-term success of a brand depends on marketers abilities to select a brand meaning prior to market entry, operationalize the meaning in the form of an image, and maintain the image over time.

The fact that several brands have been able to maintain their image for more than 100 years supports their position.

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Title: BRAND POTFOLIO, CORPORATE IMAGE & REPUTATION: Managing Brand Deletions Author: Rajan Varadarajan, Mark P. DeFanti, Paul S. Busch
(Texas A&M University)

Abstract Brand portfolio management addresses, among other issues, the interrelated questions of what brands to add, retain, or delete. A small number of brands in a firms brand portfolio can often have a disproportionately large positive or negative impact on its image and reputation and the responses of stakeholders. Brand deletions can be critical from the standpoint of a firm being able to free up resources to redeploy toward enhancing the competitive standing and financial performance of brands in its portfolio with the greatest potential to positively affect its image and reputation. Against this backdrop, the authors focus on the organizational and environmental drivers of brand deletion propensity, the predisposition of a firm to delete a particular brand from its brand portfolio. The authors propose a conceptual model delineating the drivers of brand deletion propensity and suggest directions for future research, including the related concept of brand deletion intensity.

Title: MANAGING BRAND EQUITY: a look At the impact of attributes Author: Chris A. Myers (Assistant Professor of Marketing, Texas A&M University-Commerce, Commerce, Texas, USA) Abstract Brand equity continues to be one of the critical areas for marketing Management. This study explores some of the consequences attributes may have on brand Equity such as the bias on consumer preference. For comparative purposes, a longitudinal study is conducted on the high involvement soft drink category using the top nine national soft drinks brands. In addition to brand equity and the top attributes being measured, overall preferences and the impact of other variables were included. Attributes are examined from a tangible and intangible perspective and both are found to be important contributors to brand equity and brand choice.

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Consumer perceptions clearly underlie behavior and preferences of brand equity. As Biel (1992) observed: Consumer behavior is, at root, driven by perceptions of a brand. While behavioral measures of purchase describe the existence of equity, they fail to reveal what is in the hearts and minds of consumers that is actually driving equity. Thus the focus of the present study relies on both a perceptual look and behavioral-based examination of brand equity.

In summary the importance of measuring and managing brand equity cannot be fully appreciated until we understand not only how equity is formed but also how it affects attitudes and behavior. Managers clearly need to be Convinced of brand equitys impact on the bottom line.

This research is a step in that direction. Our method divides brand equity into tangible-based (measurable) and intangible-based (non-measurable) components, thus providing the brand manager with an indication of different plausible bases of brand equity. The tangible-based component of brand equity captures the impact of brand-building activities on consumers attribute perceptions. In other words, the tangible-based equity incorporates the difference between subjectively perceived and objectively measured attribute levels. The intangible-based component of brand equity captures brand associations unrelated to product attributes .

Conclusion This study examined the effect of intangible and tangible attributes on brand equity as well as its relationship to consumer preferences. There is a strong relationship between brand equity and each of the preference measures utilized in the study. Across this category, the brand with the greater market share yielded substantially higher levels of brand equity. In turn, the brand with the higher equity in the category generated significantly greater preference. The findings highlight the need to gain an understanding of the separate impacts of both intangible and tangible attributes and their contribution to brand equity and preference.

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It might have been expected that brand name may have greater importance than overall preference for these brands, given the less abstract nature of this product category. Our results did bear this out. This finding should be viewed with caution, however, since the products used in the study were low involvement. Low involvement products, such as consumer products, may be viewed differently from high involvement products. Low involvement products such as consumer products are advertised and promoted frequently and thus consumers are likely to have formed a more objective view of the nature of the attributes, even those that are more abstract. We postulate that this may be an explanation for the difference in attributes in this study.

Title: A Brand Building Literature Review 14 authors estimate a firms brand equity by deriving financial market estimates from brand-related profits. Taking the financial market value of a firm as a base, they extract the firms brand equity from the value of the firms other tangible and intangible assets, which results in an estimate based on the firms future cash flows. Along the same line of thought, Doyle (2001b) argues that brand equity is reflected by the ability of brands to create value by accelerating growth and enhanc ing prices. In other words, brands function as an important driver of cash flow.

Title: PROJECTIVE TECHNIQUES FOR BRAND IMAGE Author: Anouk Hofstede, Joris van Hoof, Natascha Walenberg, Menno de Jong (Netherlands )

Abstract: Purpose Since it is hard for consumers to express their feelings and views regarding brand images, market researchers increasingly use projective and enabling techniques to collect rich and meaningful data. The purpose of this paper is to describe the development and use of two methods of brand image research based on personification. Both methods were used to investigate the personality of four beer brands.

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Design/methodology/approach The first method was based on mood boards: participants were asked to make collages of celebrity photographs representing the beer brands (n 16). The second method used a job-sorting task: participants were asked to connect jobs with the beer brands (n 100). The results of both methods were related to a list of brand personality traits. Findings Holistic interpretations of the mood boards and the jobs associated with the beer brands reveal highly similar results among the two methods, which strongly discriminate between the four beer brands. A translation of these findings to scores on personality dimensions further underlines the similarity of the two methods used, but does not convincingly distinguish between the four beer brands. Research limitations/implications The similarities in the results underline the congruent validity of the two methods. The observation that the two methods lose their discriminating value when holistic impressions are translated to personality dimensions scores calls for more research into the way projective research data may be interpreted and used. Originality/value This study is a first attempt to compare the results of two different but related projective techniques for brand image research. It demonstrates the importance of methodological research in this area.

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Conclusions:

This paper describes a first attempt to systematically analyze the similarities and differences in the results of two projective research techniques in the context of brand image research. We developed two-personification-based research methods and used them to investigate and compare the image of four Dutch beer brands. Two criteria were used to evaluate the results:

(1) the convergence between the two methods; and (2) the discriminating value of the methods.

Our analyses focused on three levels. On the level of a holistic analysis, we found that the two methods produced largely similar results, which clearly highlighted differences in image between the four brands. The differences found have some face validity, as they appear to reflect actual differences in the advertising strategies of the four brands.

On an analysis level of (coarse-grained) personality dimensions, the results of the two methods were still very similar for each beer brand, but failed to discriminate between the four brands. On the more fine-meshed analysis level of personality facets, the similarity between the two methods disappeared, which raises doubt on the validity of either method for this level of analysis.

On the one hand, the results underline the practical relevance of projective research techniques for brand image research. The participants in our research sessions

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Title: BRAND EQUITY IN HOSPITAL MARKETING Author: Kyung Hoon Kim, Kang Sik Kim, Dong Yul Kim, Jong Ho Kim and Suk Hou Kang
(Changwon National University, South Korea)

Year: May 2006.

Abstract: Health care marketers face unique challenges around the world, due in part to the role the health care field plays in contributing to public welfare. Hospital marketing in Korea is particularly challenging since Korean law prohibits hospitals from running any advertising. As a result, Korean hospitals depend heavily on customer relationship management (CRM). This study identifies five factors that influence the creation of brand equity through successful customer relationships: trust, customer satisfaction, relationship commitment, brand loyalty, and brand awareness. An empirical test of the relationships among these factors suggests that hospitals can be successful in creating image and positive brand equity if they can manage their customer relationships well.

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