零售商品牌资产管理策略体系构建——基于多维理论视角的探讨

零售商品牌资产的管理和创建是零售企业获取持续竞争优势的关键,但关于零售商品牌资产管理策略的理论指导并不系统和丰富。因此,本文从零售商品牌营销管理、顾客情绪管理、顾客体验管理、顾客关系管理、顾客忠诚管理5个多维理论视角,对零售商品牌资产管理的策略体系进行了构建,以期为零售商品牌资产的创建过程和途径提供丰富的管理视野与思路。     

Leveraging social media-based determinants to build customer-based brand equity of a retailer

ABSTRACT

Social media is all about consumer networks and consumer relations that challenge marketers to leverage social media as a means to develop and improve their connections with consumers. Though tremendous opportunities via social media are alluring, businesses are still finding it hard to penetrate the clique of consumer interactions that are largely personal in nature. Despite the opportunities available through social media marketing activities, understanding customers and their behavior, and incorporating that information in marketing strategy formulation is critical to successful strategy implementation. This study takes a significant leap forward in this direction. Theoretically grounded in diverse fields, this study demonstrates how retailers can build customer-based brand equity using social media-based brand determinants. Using seemingly unrelated regression technique, this study examines how retailer brands can leverage consumer characteristics on social media to successfully integrate and capitalize on social media marketing activities. This research study has important implications for both marketing theory and practice.     

An integrated retailer image and brand equity framework: Re-examining,extending, and restructuring retailer brand equity

Retailers are amongst the world's strongest brands, but little is known about retailer brand equity. In spite of their extensive use, we argue that current operational models are too abstract for understanding the uniqueness of the retail industry and too simplistic to understand the interrelationships among the dimensions in the retailer brand equity building process. This study contributes to the existing and largely generic retailer equity frameworks in three ways: first, by incorporating retail specific dimensions from the retailer image literature; second, by re-examining and developing the structures and relationships between the dimensions of retailer equity by testing alternative structures commonly used in the more general brand equity literature; and finally by creating a short and parsimonious scale for assessing retailer brandequity in different contexts. Three alternative models are compared and tested on six brands in both convenience and shopping goods categories, ranging from discount to middle range price levels. The outcome is an operational framework supporting the main building blocks of the conceptual brand resonance model presented in Keller (2001) with seven dimensions structured in a four-step sequence as awareness → pricing policy, customer service, product quality, physical store → retailer trust → retailer loyalty, thereby describing retailer brand equity as a four-step process. The extended, although parsimonious, 17-item retailer equity scale can be used by academics as well as practitioners to examine the underlying values of retailer brands and has the potential to incorporate additional dimensions and attributes to investigate specific retail contexts without creating lengthy questionnaires.     

A longitudinal examination of the effects of retailer–manufacturer brand alliances: The role of perceived fit

Abstract

One resource that has been identified as a valuable source of competitive advantage is the equity associated with an organisation's brands. Organisations devote considerable resources to developing strategies that allow them to build and/or maintain strong brand names. This study investigates brand alliances between retailers and manufacturers. The role of perceived fit between the partnering brands is explored. In addition, the study examines the influence that retailer–manufacturer brand alliances have on: retailer equity; manufacturer brand equity; the intention of consumers to frequent the stores of the retailer involved in the brand alliance (shopping intention); and the intention of consumers to purchase products from the manufacturer involved in the brand alliance (purchase intention).     

The impact of selected store image dimensions on retailer equity: Evidence from 10 Chinese hypermarkets

Building retailer equity increases revenue and profitability by insulating retailers from competitors. Store image is the basis of retailer equity, but extant literature offers little insight into the empirical research which takes store image dimensions as antecedents of retailer equity. This paper establishes a theoretical and empirical basis that shows the impact of selected store image dimensions on retailer equity. The authors propose a conceptual framework in which store image dimensions are related to three dimensions of retailer equity, i.e., retailer awareness, retailer associations, retailer perceived quality. These dimensions are then related to retailer loyalty. The empirical tests using a structural equation model support the research hypotheses. The results indicate the positive effect of convenience, perceived price, physical facilities, employee service, and institutional factors on retailer equity dimensions as antecedents of retailer equity.     

Analyzing the effects of private-label supplier disclosure on retailer image

Private-label retailers' disclosures of dual manufacturing agreements—that is, agreements with manufacturers that produce both their own national brands and private labels—can affect the images associated with the retailers. In this study, an experiment reveals moderating effects on retailer images, according to the images of both the national brand manufacturers and the retailers; and also depending on the brand equity of the private label. A low-image retailer's disclosure that a national brand manufacturer supplies its private label causes consumers to perceive that the retailer has a higher image. However, the positive effects of private label supplier disclosure on the retailer's image are weaker when the private label enjoys high equity.     

A consumer-based method for retailer equity measurement: Results of an empirical study

This research extends the consumer-based brand equity measurement approach to the measurement of the equity associated with retailers. This paper also addresses some of the limitations associated with current retailer equity measurement such as a lack of clarity regarding its nature and dimensionality. We conceptualise retailer equity as a four-dimensional construct comprising retailer awareness, retailer associations, perceived retailer quality, and retailer loyalty. The paper reports the result of an empirical study of a convenience sample of 601 shopping mall consumers at an Australian state capital city. Following a confirmatory factor analysis using structural equation modelling to examine the dimensionality of the retailer equity construct, the proposed model is tested for two retailer categories: department stores and speciality stores. Results confirm the hypothesised four-dimensional structure.     

零售商品牌资产形成机制及其理论模型

零售商品牌资产的形成机制反映了零售商品牌价值链与宏微观零售营销环境要素的作用关系。根据参与要素范围及内容结构的不同,零售商品牌资产的形成机制被分成宏观机制与微观机制,并表现为不同的理论模型。对理论模型中关键驱动要素的深入分析,有利于为零售商品牌资产建设提供有益建议。     

Valuation of brand equity and retailer growth strategies using real options

In marketing, significant attention has been devoted to the study of drivers and outcomes of strategic flexibility drawing on real options theory. However, research that quantifies the specific value of flexibility reflected in a bundle of strategic real options is lacking. To remedy this gap, we develop a real options-based framework that takes account of brand expansion and extension options to value brand equity and retailer growth strategies. We show how to value the bundle of strategic real options associated with a flexible marketing strategic vision and how to assess the growth strategies related to the corporate brand of an international retailer. We apply our method to estimating the brand equity of Starbucks both under growth and adversity conditions. The results reveal that our method can more reliably incorporate the growth potential of the brand under uncertainty conditions. Comparisons with other brand valuation approaches are discussed. Our study helps clarify the links among management’s strategic plans, brand-based marketing strategies and share price, and allows to better monitor the impact of retailer strategic choices on long-term brand equity value.     

Brand personality appeal in retailing: Comparing fashion- and grocery retailing

In a mature retail market, branding can offer retailers opportunities for setting themselves apart. This study examines the construct ‘brand personality appeal’ (BPA; Freling et al., 2011) in retailing. Two consumer surveys are administered, on fashion retailing (n = 104) and grocery retailing (n = 101), focusing on (1) store personality, (2) BPA, and (3) retailer brand equity. A SmartPLS estimation shows that ‘enthusiasm’ is a personality trait that appeals to consumers regardless of the retail context, whereas ‘sophistication’ matters more in fashion retailing and ‘unpleasantness’ in grocery retailing. BPA is a significant driver of retail brand equity, regardless of the retail context.     

The Impact of Product-Country Image and Marketing Efforts on Retailer-Perceived Brand Equity: An Empirical Analysis

Although both product-country images (PCI) and firm assets such as brand equity have been extensively studied in separate contexts, we know very little about the combined performance effects of these two important constructs in international research. Extant research has investigated brand equity primarily from a consumer perspective, but rarely from the point of view of a retailer. Retailers represent the ultimate participants in the value chain selling the product to consumers. They have the ability to significantly influence consumers’ evaluations and purchase decisions. Based upon existing literature documenting the contributions of PCI and marketing activities on brand equity, this study extends these findings by investigating their effects on retailer-perceived brand equity (RPBE) and ultimate brand profitability performance. Results indicate that both marketing activities and PCI affect retailer-perceived brand equity with PCI also strongly and positively influencing brand profitability performance.     

Brand equity and retailer acceptance of brand extensions

Two important benefits of brand equity have largely been assumed in most previous research: reduced marketing expenditures required to launch brand extensions; and channel participants as an important source of brand equity. Results of a discrete choice experiment with independent retail grocers indicate that brand names influence independent retailers’ probability of listing brand extensions, but their sensitivity to mix elements such as consumer advertising, promotional allowances, and wholesale price, as well as competitors’ listing actions are not influenced by brand names. This means that retailers treat each dollar of consumer advertising or promotional allowance the same, regardless of who is spending it. Manufacturers should not assume that retailers will be less sensitive to other elements of the marketing mix for stronger brands.     

Indian Consumers’ Perception for Packaged Food and the Strategies of Food and Grocery Retailers in India—An Analysis

The aim of this article is to study the Indian consumer buying decisions of packaged food and to assess the impact of demographic dynamics on their behavior and their perception about the practicing marketing strategies of different leading food retailers across the National Capital region. We have taken six different retailers—viz. Big Bazaar, Spencer’s Retail, Reliance Fresh, 6Ten retail stores, convenience stores, and kirana (mom-and-pop) shops—in our research in an attempt to examine the consumer’s perception for these retailers’ marketing strategies to sell packaged food. The purpose to choose these retailers is to assess the impact as a whole from organized food retail as well as unorganized food retailing on consumer buying decisions. Respondents were selected by using the stratified random sampling method, and participation was voluntary. 925 respondents from the cities Delhi, Gurgaon, Noida, and Faridabad were interviewed using a structured questionnaire. Statistical tools such as chi-square, factor analysis, ANOVA, and the Bonferroni test were used to attain final empirical results and to know the comparison of food retailer strategies with the customer’s choice of retailer.     

Chief stores officer and retailer performance

This research investigates the performance implications for retailers of having a chief stores officer (CSO) in the top management team (TMT). Using a matched sample consisting of 120 public retailers, we find that CSO presence is positively associated with 3 different performance metrics, namely, comparable store sales, profit per store, and Tobin's q. We also identify a partial mediating mechanism and find that CSO presence improves retailer performance through enhanced inventory turnover. Our results are robust to controlling for a series of TMT characteristics (such as chief marketing officer presence, chief operating officer presence, and TMT diversity), time-invariant unobservables at the retailer level, different measures of key variables, and alternate model specifications. As the first study that explores the phenomenon of CSO presence, our findings have important implications for public retailers on how to leverage marketing expertise in the TMT to improve performance.     

International retailer performance: Disentangling the interplay between rule of law and culture

Understanding the complexity of institutional factors in host countries and adapting strategies accordingly is crucial for international retailers, given the high failure rate of global operations. This paper investigates the impact of formal institutions (i.e., legal environments) and informal institutions (i.e., cultural values) on the performance of international retailers. We analyzed the data on 144 international retailers and 565 subsidiaries owned by these retailers, using three measures of retailer performance: sales per square meter, return on equity, and Tobin's Q. Our findings show that retailer performance is influenced by the interactions of the host country's rule of law and three cultural dimensions. Specifically, strong rule of law enhances the performance of international retailers in host countries, especially with high power distance or high uncertainty avoidance. In highly collectivistic countries, retailers can also build strong relationships to govern transactions. Results provide key insights that explain international retailers’ performance in different countries and deliver guidelines for retailer strategies.     

Optimal retail sales strategies for old and new products in monopoly and horizontal competition scenarios

Advances in technology have made product updates more frequent and allowed consumers to choose different versions of the same product based on their preferences. It is crucial for retailers to understand how to formulate optimal sales strategies based on those different consumer preferences. To this end, we develop game models that consider the heterogeneity of consumer preferences under both monopoly and horizontal competition scenarios and perform the sensitivity analysis to examine the impact of consumer proportions and consumer preferences on retailers’ sales strategies. The results show that (i) regardless of competition or monopoly status, the original retailer can always maximize profit by setting prices based on the market share of traditional consumers, as long as the retailer sells both new and old versions of the product; (ii) the greater the competitive advantage of the competitor, the more advantageous the hybrid sales mode; (iii) if the price of the old product is below a certain threshold, there will be a positive profit for the original retailer when selling both the old and new products; and (iv) when consumer acceptance of competing retailers is lower, entering the retail market is not a good choice for competing retailers.     

Capturing Retailers’ Brand and Customer Focus

This article uses information from two data sources, Compustat and Nexis Uni, and textual analysis to measure and validate the brand focus and customer focus of 109 U.S. listed retailers. The results from an analysis of their 853 earnings calls in 2010 and 2018 outline that on average, both foci increased over time. Although both foci vary substantially, brand focus varies more widely across retailers than their customer focus. Both foci are independent of each other. Specialty retailers have the highest brand focus, and internet & direct marketing retailers have the highest customer focus. A positive correlation exists between a retailer’s customer focus and its profitability, but not between a retailer’s brand focus and its profitability. The authors use the results to generate a research agenda that can direct future research in further systematically exploring firms’ brand and customer focus.     

Retailer credit cards and direct marketing—a question of synergy

In this article the author examines the link between personalised retailer credit cards and the use of direct marketing by retailers to foster the concept of the “privileged customer” with their cardholders, as well as boosting sales. Using the example of Debenhams, the growth of both credit cards and direct marketing is examined and the synergy between the two explored. Detail is given about the credit card data base held by Debenhams and suggestions are made as to how this information could be translated into effective direct marketing communication. The results of Debenhams direct marketing are used to demonstrate the effective use of this particular vehicle and finally consideration is given to the future in the United Kingdom for both retailer credit cards and direct marketing by retailers.     

Exploiting the installed base using cross-merchandising and category destination programs

We investigate two ways to increase sales and customer loyalty by taking advantage of a store's installed base of current customers. We propose a classification of products into two types. Products of Type 1 are products for which consumers have a loyalty to a specific retailer and, as far as possible, always shop at that retailer for these products. The other products (Type 2) are not associated with any retailer and are bought at whichever retailer consumers happen to shop when they plan or remember to buy the product. With this in mind, we test the potential of two marketing tools to help retailers increase their share of sales of the Type 2 segment. Using a category destination program we show that one can successfully transform Type 2 into Type 1 products. Using cross-merchandising promotions, we show that one can increase the sales of Type 2 products thereby gaining a larger share of discretionary purchases than what one would receive from a straight random allocation. Both series of tests yielded significant increases in sales and profits and were deemed successful by the retailers who implemented them.