Conceptualization of Brand Experience in an Event Marketing Context

ABSTRACT

Despite the growing importance of brand experience and event marketing, research addressing what constitutes brand experience in an event marketing context is scarce. The purpose of this article is to develop a conceptualization of brand experience that is specifically applicable to an event marketing context. Drawing on qualitative data collected from an international motor show, which is an important form of event marketing in the automotive industry, this article develops a conceptualization of brand experience as consumers' multifaceted interaction with brands enabled through four interrelated processes of multisensory stimulation, bodily performance, social interaction, and discovery/learning. In turn, these four interaction processes trigger perceptual, embodied, social, and epistemic brand experience. Drawing on data and the relevant literature, the article elaborates on these dimensions of brand experience and discusses their theoretical and managerial implications.     

Technological Innovation and Brand Management: The Japanese Watch Industry since the 1990s

This article discusses the transformation of the Japanese consumer electronics industry since the late 1990s. Based on an analysis of the three largest watch companies (Seiko, Citizen, and Casio), it demonstrates that these firms shifted from technology-driven management to a new model focused on marketing (brand management and distribution) and upper-positioning targeting. The change has been only partial, however, as technological innovation remains the basis of branding and product development. This case study thus contributes to the discourse on the transformation of Japanese manufacturing.     

The impact of service innovation on firm-level financial performance

This article empirically investigates if firms focusing on service innovation perform better financially than firms not focusing on service innovation. Analysis of the financial performance of 3575 Norwegian firms in the manufacturing industries supports the proposition that firms focusing on service innovation have significantly higher growth of operating results than firms not focusing on service innovation. However, this proposition is not supported in a corresponding analysis of 1132 Norwegian firms in the service industries. We elaborate on these results by investigating a variety of performance measures and by comparing the effects of service innovation between manufacturing and service industries. The article contributes to the service innovation measurement literature and to a better general understanding of the determinants of service innovation performance effects.     

Are you ready for your next product recall crisis? Lessons from operations and supply chain management

Most manufacturing companies face the possibility of a product recall crisis, if not within their own firms, then certainly somewhere within their supply chains. Recall crisis management typically finds a home within literature on crisis management, public relations, communications, marketing and brand management, and related fields. However, this research seldom addresses the operations support that must be mustered behind the scenes. The tumultuous material flows that can occur during a product recall imply a supply chain disruption. An effective response during the heat of a crisis therefore requires the foundation of a well-oiled supply chain. In this article I draw on learnings from the operations and supply chain management (OSCM) literature, integrate them with important precepts from the general crisis management and product recall literature, and identify managerial best practices that will help managers better prepare for product recall crises.     

The Constant Gardener Revisited: The Effect ofSocial Blackmail on the Marketing Concept,Innovation, and Entrepreneurship

This paper discusses how adoption of the social dimensions of the marketing concept may unintentionally restrict innovation and corporate entrepreneurship, ultimately reducing social welfare. The impact of social marketing on innovation and entrepreneurship is discussed using the case of multinational pharmaceutical firms that are under pressure when marketing HIV treatments in poor countries.The argument this paper supports is that social welfare may eventually be diminished if forced social responsibility is imposed. The case of providing subsidized AIDS medication to less developed nations is used to illustrate how social blackmail may result in less innovation, entrepreneurship, and product development efforts by the pharmaceutical industry, ultimately reducing social welfare.     

Managing the Innovation Adoption of Supply Chain Finance—Empirical Evidence From Six European Case Studies

Logistics’ contribution to corporate performance has increased over recent years, particularly due to supply chain innovations. Opposed to common innovations focusing on the improvement of product or information flow, supply chain finance (SCF) targets the financial flow and allows buying firms and their suppliers to improve working capital and reduce costs. However, the adoption process of SCF is complex and rather unexplored in academia. This article provides an early step in building knowledge about SCF and in particular how firms adopt SCF, why they adopt differently, and what role suppliers play in the adoption process. The objective was therefore to close the gap between our knowledge on product and information flow oriented innovations and financial flow innovations along the supply chain, namely SCF. For this explorative research, we opted for an inductive multiple case study approach with six European firms. Based on our findings, four sets of propositions are posited and an extended SCF adoption framework is proposed revolving around the interrelated adoption processes of buying firms and their corresponding supplier bases.     

Antecedents and financial impacts of building brand love

Brand love has garnered increasing interest among practitioners and scholars, but little is known about how marketing actions drive brand love, and whether and how brand love transmutes to firm profitability. Using longitudinal brand love data collected from more than 20,000 customers of 152 corporate brands and financial data of firms who own these brands during 2006–2017, the authors examine the antecedents and financial impacts of building brand love. The results show that advertising investments help firms build brand love with diminishing returns after reaching an optimal point, whereas R&D investments positively contribute to brand love. The analyses further show that although brand love does not affect firm profitability and market value in the short term, it increases firm profitability and market value in the long term. More important, the results indicate that the positive effect of brand love on firm performance is stronger for hedonic brands, for firms in product categories that matter greatly to consumers, and those operating in highly competitive markets. Overall, the findings have important implications for marketing theory and provide actionable insights for managers into how to build and manage brand love.     

The moderating effect of brand orientation on inter-firm market orientation and performance

Abstract

While prior research has shown that market and brand orientation are key contributors to successful business performance, research to date has not fully explored how inter firm collaboration for these two key orientations can enhance business performance. The purpose of the paper is to investigate the relationship between inter-firm market and performance; to test for the moderating role of brand orientation in that relationship. A total of 169 completed pairs of surveys were collected of small and medium enterprises operating internationally in a variety of industries in Switzerland. The results show that inter-firm market and brand orientation are two antecedents of marketing and financial performance. The impact of inter-firm market on marketing and financial performance is significant when the brand orientation is favorable. This study extends previous research by examining the moderating role of brand orientation on inter firm market orientation, which is important, especially for firms wanting to increase their brand reputation by entering into partnerships with other firms. Further research is indicated, to identify the key moderators of the driving force of inter-firm market in relation to business performance and the reason why maintaining a strong brand presence is important in the international marketplace.     

The interactive effects of product and brand portfolio strategies on brand performance: Longitudinal evidence from the U.S. automotive industry

Product and brand portfolio extensions are effective marketing strategies to meet customer needs and to create a competitive advantage in the marketplace. Nevertheless, product and brand portfolios can get out of control easily leading to a loss of market focus and market share. This study examines how product portfolio and branding decisions affect brand performance (unit sales and market share). Prior research in marketing has investigated the effects of product portfolio and branding strategies on firm performance in isolation. However, these decisions are rarely isolated events. Usually, for multi-product and multi-brand companies, product portfolio decisions are determined in conjunction with branding decisions. Using a dynamic panel generalized method of moments estimation on a comprehensive dataset from the U.S. automotive industry between 2007 and 2013, this study examines the extent to which product and brand portfolio characteristics interact to affect brand performance. Findings reveal that while brand portfolio scope augments the positive effects of portfolio depth and innovativeness on brand performance, it attenuates the positive effects of product portfolio breadth on brand performance. Also, brand positioning in auto industry enhances brand performance only when considered jointly with product portfolio breadth, depth, and innovativeness. Finally, the present study discovers critical managerial trade-offs between product and brand portfolio decisions, as product and brand portfolio decisions are intertwined and a careful examination of the existing product and brand portfolio characteristics seem to be warranted to maximize brand performance.     

Enhancing Brand Equity Through Sustainability: Waste Recycling

Unlike many existing research studies that explain reverse marketing from a purchasing perspective, this study recognizes it as an honest effort made by managers aiming to promote sustainability by purposefully managing waste and discusses the spillover effect of their initiatives on brand equity. It argues that efficient recycling of products through reverse marketing by a brand demonstrates its sincere intent to adopt sustainable business practices and enhances its equity in the marketplace. A business‐to‐business viewpoint has been used to combine knowledge about waste recycling and management through reverse marketing based on the unpretentious operations and management practices. The propositions reflect on the criticality of engaging business customer firms in a procedural mechanism of recycling for increase in brand equity as the success of reverse marketing. A comprehensive adoption of an initiative like waste management through reverse marketing by a brand highlights how sustainability initiatives can create value for the customers of the brand and ultimately drive brand equity. © 2015 Wiley Periodicals, Inc.     

An Empirical Investigation of Brand Equity: A Cross-Country Validation Analysis

ABSTRACT

The purpose of this article is to propose and test a model in order to better understand brand equity. The goal of this research is to identify the drivers and determine how they influence brand equity performance in the researched industry in order to develop a more effective brand strategy. Quantitative data collected are used to test a model of brand value in the context of the food industry. The findings of this research provided evidence that the customer-based brand equity model can be applied to the food industry context and be used to guide marketing activities internationally. Brand awareness has a positive influence on brand associations and perceived quality. Brand associations have a positive influence on brand loyalty. Finally, brand loyalty, perceived quality, and brand associations all have a positive effect on brand equity. This study contributes to the scarce international brand equity literature by testing the proposed model using data from a sample of consumers in two European countries.     

A longitudinal examination of the impact of quality perception gap on brand performance in the US Automotive Industry

A quality perception gap, defined as the difference between perceived and objective quality, indicates either consumers’ overappreciation or underappreciation of product or brand quality and can have critical effects on performance. The purpose of this research is to examine the impact of a quality perception gap on brand performance and its moderating role in the relationship between marketing-mix signals and performance. Analyses based on a longitudinal dataset from the US automotive industry reveal that the relationship between the quality perception gap and brand performance has an inverted U-shape. Findings also demonstrate that, except for advertising, the impact of marketing signals on performance is higher when the quality of a brand is perceived as higher than its actual quality. Finally, over an 18-year period, the average gap between perceived and objective quality demonstrates a decreasing trend, indicating that the nature of demand in the automotive industry has become more utilitarian.     

Small business strategy and the industry life cycle

This article proposes that individual small firms, just like large firms, use different approaches to make strategy. Three processes relevant to small firms are identified: simplistic, participative and adaptive. The article examines how these processes are related to performance, depending on industry life cycle stage. Empirical analysis indicates that all three approaches are related to small firm performance, but that the importance and impact of these relationships will change according to the industry life cycle stage. Markedly, and contrary to evidence from studies in large firms, small firms in mature industries are most likely to benefit from using adaptive strategy-making processes.     

New product development process: An investigation of success and failure in high-technology and non-high-technology firms

Numerous studies have examined new product success and failure in an attempt to reduce failure rates. Because they share some common themes, the previous studies were categorized into the following five groups: (1) studies focusing on causes of new product successes/failures; (2) studies examining new product development processes; (3) studies investigating new product development strategy and performance relationships; (4) studies focusing on building models to predict new product performance, and (5) studies focusing on a single factor relating to new production success/failure.To fill some of the gaps in earlier studies, and include variables that have not been linked to new product success/failure before, 151 companies were surveyed in two industries, the medical instrument technology and food processing industries. The survey contained questions on the importance of six new product idea sources: (1) final customers; (2) R&D department; (3) marketing executives; (4) other executives in the firm; (5) competitors; and (6) free-lance investors. Seven factors that were proposed to relate to new product success/failure were: (1) competition; (2) product performance; (3) marketing; (4) price competitiveness; (5) product absolescence; (6) limited number of distributors; and (7) customer switching costs. In addition, an attempt was made to investigate the effects of technology and following new product development plans and procedures on new product success/failure.Survey results indicate that using customers as the sources of new product ideas ranks number one in terms of importance for businesses in both the medical instrument technology and food processing industries. Similarly, executives who are in charge of new product development rare poor product performance as the essential cause of new product failure in the food processing industry, followed by poor marketing and pricing. In the medical instrument technology industry, however, the most important cause of new product failure was considered to be customer switching costs followed by poor product performance. This is probably because of the high investments typical for products in the medical instrument technology industry (i.e.hospital equipment). New product failure rates also differed between the two industries studied. Companies from the food processing industry, on average, had an almost 8% higher new product failure rate than companies in the medical instrument technology industry (40.18%vs.32.43%).The level of technology (medical instrument technology—high tech vs.food processing industry—low tech) may account for the difference in the new product failure rate. Results also showed that following new product development plans and procedures relates to new product success in the food processing industry, but not in the medical instrument technology industry.Using company R&D departments and free-lance inventors as sources of new product ideas is related to new product success in both industries investigated. In the food processing industry, price, competition, customer switching costs, and access to distribution channels influence new product success. Those firms that consider these variables important have higher new product success rates. Similarly, in the medical instrument technology industry, customer switching costs, access to distribution channels, product performance, product obsolescence, and marketing are important influences of new product success. Thus, firms that consider these variables when entering markets with new products may be more successful.It is possible to eliminate some causes of new product failure by entering markets earlier than the competitors. For example, early market entrants often have advantages over later entrants in selecting distribution channels. Early market entrants are also likely to create new customer switching costs for later entrants, however, this may not occur if the product introduced is not a technological breakthrough. Of course, not every new product introduced can be a technological breakthrough (e.g., many food products), but they can be new, reflecting the definition of new products.     

Brand Management in Small to Medium‐Sized Enterprises*

Although an impressive body of literature has emerged focusing on the critical activities involved in brand management for larger organizations with well‐established brands and substantial marketing budgets, no research has been undertaken to examine branding within small to medium‐sized enterprises (SMEs). The present study therefore seeks to assess the nature and scope of brand management within an SME context. Findings show significant differences between small and large organizations along 9 of the 10 brand management dimensions reported in Keller's brand report card. Moreover, different brand management practices are associated with business performance in SMEs. Implications of the study are highlighted, limitations noted, and directions for future research outlined.     

An investigation of marketing capabilities and upgrading performance of manufacturers in mainland China and Hong Kong

Although Chinese manufacturers are considered as latecomers or followers in global commodity chains, they have also been experiencing rapid progress in upgrading performance from own equipment manufacturing (OEM), original design manufacturing (ODM) to own brand manufacturing (OBM). Current literature on the global commodity chain has focused primarily on economic conditions that help explain manufacture upgrade while giving limited attention to what marketing capabilities support and sustain firm competitiveness through upgrading. This article examines eight different marketing capabilities to assess influence on manufacture upgrade performance. A survey of electronics manufacturers in mainland China and Hong Kong shows the significance of individual marketing capabilities and implications of their interdependency for manufacture upgrade performance. In particular, product development, marketing communication and channel management capabilities are crucial for manufacture upgrade. The results also highlight the importance of selective marketing capability development and the potential of secondary support for the relationship between substantive and dynamic capabilities.     

Investigating the Types of Value and Cost of Green Brands: Proposition of a Conceptual Framework

This conceptual article applies the customer value (CV) concept in the context of green marketing aiming to provide insights on the factors that motivate and/or hinder the development of consumer–green brand relationships. The article draws upon existing literature on the streams of CV, relationship marketing and environmental behaviour and synthesises relevant findings to propose an integrated conceptual framework entailing all identified types of value and cost, psychographic characteristics, as well as dimensions of relationship quality (RQ) and loyalty. Furthermore, it addresses existing questions on the links among constructs and proposes several relationships that may lead to a better understanding of consumer behaviour towards green brands. Through the here-proposed conceptual model, the article initiates the process of empirically examining the consumer adoption of and relationship development with green brands. The CV framework adopted here may provide practitioners with knowledge on the value and sacrifice factors, as well as the dimensions of RQ that are the most important in targeting green consumers and designing relationship marketing strategies. The article also fulfils an identified gap in the literature, as it is the first that brings together and applies research findings from CV and relationship marketing fields in the green marketing context and proposes an integrated approach to understanding consumer–green brands relationships.     

Client loyalty and defection in the corporate legal industry

As the legal service industry matures and becomes saturated, more traditional forms of marketing may need to be replaced by the adoption of newer relationship concepts. This article reports on a research investigation among corporate clients of UK law firms. The findings reveal that satisfaction with the service is the key factor that influences corporate clients to stay loyal to a particular law firm. The quality of legal advice, trust and honesty were also found to be important factors that drive client loyalty. Conversely, poor quality, as an outcome of the client – legal firm interaction, is perceived to be a significant contributor of client defection. Overall, the findings emphasise the need for legal firms to focus on client retention for survival and profitability.     

Integrating strategy,industrial product innovation and marketing research

This article investigates the function of marketing research with respect to new industrial product innovation, commercialization, and ultimate adoption and diffusion. Although industrial firms have implemented strategic planning concepts extensively, because of the uncertain nature of intermediate markets, they have failed to utilize the full capabilities of marketing research early in the new product innovation and development process.The article also contends that even where there has been awareness of a critical lack of information at the innovation, commercialization, and diffusion-adoption interfaces, discussion of the nature of this information has been insufficient and too narrowly focused to comprehend the decision-support needs of management. Properly integrating industrial marketing research and new product innovation requires remedying four basic problems, viz., problems of appropriate and full utilization, problems of substance and approach, problems of timing and uncertainty, and problems of integration with other functions. The paper concludes with a schema identifying a broad range of useful market research techniques within a framework which encompasses the sequential aspects of bringing a new industrial product to the market from conceptualization to adoption.