BRAND STRENGTH BASED ON REALISTIC AND EMOTIONAL FEATURES AND STRATEGY OF MANAGING IT

The article is devoted to the study of the definition of the strength of the brand by its main features: objective, characterizing the realistic benefits of using the brand, such as profit, cost savings, etc., and subjective, which characterizes the emotional satisfaction of the use of products of a particular brand or cooperation with an enterprise, which consists in the attractiveness of the brand. The purpose of the article is to develop proposals from: determining the strength of the brand's influence by realistic and emotional features, identifying strategies for managing it. The object is the process of brand management of products or enterprises. The subject is theoretical provisions, methodological approaches, methods for determining the strength of the brand on its main features and the formation of management strategies. Methods. Theoretical and practical analysis of works of branding specialists proved the need to use the following methods of research: monographic, analysis and synthesis, structural-logical method, system approach, theoretical generalization, expert methods, correlation-regression analysis. The results are as follows: the differences between the strength and value of the brand, generalized understanding of realistic and emotional components of the brand, offered indicators of their measurement - on a realistic basis by a three-factor model of transformation of brand strength into additional financial flows, emotionally - based on the developed questionnaire, that is, using expert methods, proposed a matrix of brand strength on these features and positioned brand management strategies in accordance with the essence and meaningful load. The main results of the research are proposals for assessing the strength of the brand on the basis of objective and subjective characteristics and their use to build a matrix of positioning strategies for brand management. As the main strategies of brand management it is offered to use the following: strategy of donation, and stratification of the general brand, strategy-aspiration to leadership at use of the strong points and opportunities, exclusive advantages, combining them with own possibilities, strategy of maximization of dominance in the market strengthening the basic direction of innovation, niche strategy - financing specific innovation proposals for target segments of the consumer market, strategy of flank attack to increase cash flows, market exit strategy, strategy of careful promotion, flank donation, donor strategy, attention is paid to the needs of the target audience of consumers in the market for products. The existence of a correlation between the rationalist and emotional characteristics of the brand is proved. Conclusions: brand strength and strategy should be formed on the basis of both realistic and emotional features.

Importance of Customer Perceived Value in Restaurant Businesses: Influence of Brand Experience on Brand Strength and Electronic Word of Mouth

The purpose of this paper is to empirically examine the relationship between brand experience, brand strength, and electronic word of mouth along with mediating role of perceived brand value. A total of 308 responses were generated, using an electronic questionnaire. The data was deductively analyzed using reliability, validity, confirmatory factor analysis (CFA), and structural equation modeling (SEM). The results of this study indicate that brand experiences positively influence brand strength and electronic word of mouth. Moreover, the results revealed the partial mediation of customer perceived value in the relationship of brand experience and brand strength and also in the relationship between brand experience and electronic word of mouth. This study explains how restaurants can create electronic word of mouth and increased brand strength through memorable experiences. This study provides insight beyond marketing mix elements, and ad theatrical elements which provide evidence for positive customer value perception increased brand strength, and widely generated word of mouth. The theatrical elements of serving food studied in this research have not been studied before in the context of Pakistani restaurants. Therefore, this study bridges the gap between previous studies.

Country Brand-Strength Index for G7 Countries and Turkey

Even though, in the past, competition depended on the factors of production possessed, today it depends on the production of value-added goods, their export, and finally, branding of the country today. Since the late 1990s, the brand value of countries has been an important concept that has been studied. Current academic literature is deprived of weighting sub dimensions of country brand strength index and compare index values by years. Having an import-ant role in academic literature, Fetscherin (2010) identified five dimensions of the country brand strength index as export, tourism, foreign direct investment, migration and governance, but not giving any weighting to sub dimensions. In order to contribute to current country brand index literature, sub-dimensions of the index are weighted with the help of the analytical hierarchy process (AHP) method, comparing 2010 and 2015. Therefore, the innovation of this paper is its weighting method and the comparison of index values by years. The Country Brand Strength Index (CBSI) is calculated for G7 countries and Turkey using the survey based AHP method, consisting of 5 different indi-cators: exports, foreign direct investments, tourism, immigration, and governance. According to the results, it is deter-mined that “exports” has the most important weight among those indicators with Canada leading the group with the best index value in 2010 and 2015. The aim of this study, which was conducted with limited resources, is to shed light on studies to be carried out in the future in order to establish a strong country brand and increase country competi-tiveness in the international markets. In this respect, repetition of this research as regards to geographical and regional variations and performing qualitative and quantitative studies, incorporating different dimensions in the index such as culture, science and technology, will strengthen the academic literature in this field.

A set-theoretic approach to identifying effective configurations ofpromotional attributes

Purpose Most previous studies have indicated promotional attributes separately (e.g. time pressure, giveaways, price discounts, exclusivity) and found controversial effects. This paper aims to explore how different attributes can be aligned with each other and integrated with different levels of brand strength to influence sales or purchase intention according to the fit logic. Design/methodology/approach Both field data and controlled experiments are used to understand the effectiveness of promotion configurations. This paper first conducts an exploratory study using qualitative comparative analysis, based on 625 online promotion campaigns. This paper identifies several effective configurations of promotion attributes, leading to the development of two hypotheses. Three experiments are then designed to test the validity of these two hypotheses. Findings The results show that strong brands should adopt nonmonetary promotion, whereas weak brands should adopt monetary promotion; exclusivity and time limitation should be used separately. Research limitations/implications This paper provides empirical insights on how promotion elicits sales in terms of the configuration of promotional attributes and brand strength. This paper examines the integrative effect of types of giveaways, promotion duration and promotion target as well as brand strength on promotion effectiveness. Future research can explore other promotional attributes. This study is a first attempt to introduce and apply the set-theoretic approach to address strategic research issues and inform strategic decisions and managerial actions. Practical implications The findings can facilitate marketers’ understanding and predictions of deal recipients’ responses to promotions. Originality/value This paper adopts a holistic view to investigate how different promotion attributes interact with one another to stimulate sales. It explores the integrative effect from field data and finds converging evidence through a set-theoretic approach and controlled experiments.

Impact of fake news on social image perceptions and consumers’ behavioral intentions

Purpose This paper aims to examine how content relevancy influences consumers’ preference to receive and share fake news. Further, it investigates how these receivers perceive the social image of the people who share fake news. Finally, this study examines how brand strength and valence and credibility of fake content influence consumer’s word-of-mouth recommendations, purchase intentions and attitude toward the brand. Design/methodology/approach Three experiments were conducted to test the hypotheses. The data was analyzed using a two-way analysis of variance and PROCESS techniques. Findings Findings indicate that people prefer to receive and share relevant content, even if it is fake. Sharing fake news conveys the sender’s sociability but also creates a negative perception of narcissism. Individuals are more likely to recommend a brand if the fake news is perceived as credible and positive (vs negative). Finally, brand-strength can help brands to negate the harmful effects of fake news. Research limitations/implications Future research can explore the role of group dynamics, tie-strength and media richness (text, image and videos) in the dispersion of fake news and its impact on brands. Practical implications Marketers should communicate and educate consumers that sharing fake content can harm their social image, which can reduce information dispersion. Marketers should also improve brand-strength that can protect the brand against the adverse impact of fake news. Originality/value This study contributes to the emerging literature on fake news by studying the impact of fake news on consumer intentions and attitudes toward the brand, which are critical for the success of any brand.

Drivers of autonomous vehicles—analyzing consumer preferences for self-driving car brand extensions

Autonomous cars are considered to be the next disruptive innovation that will affect consumers. It can be expected that not only traditional automakers will enter this market (e.g., Ford) but also technology companies (e.g., Google) and newer companies dedicated to self-driving cars (e.g., Tesla). We take a brand extension perspective and analyze to what extent consumers prefer autonomous cars from these brand categories. Our empirical study is based on discrete choice experiments about adopting autonomous vehicles in a purchase scenario and in a renting context. Our findings show that brands play a central role when making autonomous driving decisions. Brand preferences differ systematically when buying versus renting a self-driving car. While technology brands are most preferred overall, consumers favor automaker brands over new brands only when purchasing, not when renting. We further disentangle the brand strength into the marginal effects of image associations. For example, Google’s strong brand positioning can be explained by experiences with the parent brand, but it could still improve brand strength by highlighting the relevance of the associated brand portfolio for self-driving cars. The effect of these brand extension success factors differs between parent-brand categories and also between the renting and purchasing scenarios, which requires a dedicated brand management.

Methodological Approaches to the Integrated Evaluation of Brand Strength Based on the System of Indicators and Modeling of Generalized Results of the Consumer Survey

The article presents in detail the methodological approaches to calculating the integrated assessment of brand strength, as well as the results of testing the system of indicators and the mathematical model on the example of a comprehensive assessment of the power of the regional brand “The real Vologda product”. The developed methodology as a whole is the result of research within the framework of the implementation of a state scientific grant from the government of the Vologda Oblast. In addition to the system of indicators, built on the basis of the results of generalization of theoretical materials and practical experience of domestic and foreign authors on this problem and the use of modeling techniques, a questionnaire for researching consumer attitudes towards brand product is presented, a methodology for presenting the results of respondents’ answers to questions in a quantitative coefficient form is described. A mathematical model has been developed to calculate the integrated indicator for assessing brand strength based on the survey results, which includes information received both from the consumer and from outside experts. The scaling of the possible values of this estimate has been performed. The matrix of indicators for assessing brand strength is graphically presented, which allows you to give both a general and a detailed qualitative characteristic of brand strength based on the results of using the model, to determine the strengths and weaknesses of the brand, and to reveal its potential. Purpose of the research. The purpose of this research was to develop a comprehensive methodology for assessing brand strength and its approbation on the example of the regional product brand “The real Vologda product”. Materials and methods. The research was carried out on the basis of data from a questionnaire survey of consumers and experts, construction of a mathematical model, including coefficient values of indicators reflecting the level of indicators that allow assessing brand strength in the complex. Mathematical and statistical methods were used as the basis for transferring the results of the respondents’ answers into the coefficient form, their standardization and generalization. A graphical method was used to represent the matrix of indicators for assessing brand strength. Results. The studied domestic and foreign methods for assessing the power of a brand, with all their obvious positive aspects and completeness, have a weak side – they are qualitative from the standpoint of characteristics of the strength, potential and status of a brand, they only allow a description of these properties. As a result of the study, it was possible to generalize the existing experience, develop a system of brand strength indicators, draw up a questionnaire for a consumer survey that allows collecting information to measure the values of these indicators, build a mathematical model for calculating an integrated brand strength assessment, develop a methodology for the qualitative characteristics of the results of calculating this assessment based on the matrix. Approbation of the methodology made it possible to obtain a comprehensive quantitative assessment of the power of the regional product brand “The Real Vologda product”, to formulate recommendations that were taken into account by the copyright holder of the brand – Budgetary Institution of the Vologda Region “Vologda Information and Consulting Center of the Agro-Industrial Complex” when elaborating its development strategy. Conclusion. The results of assessing the influence of the indicators’ contribution to the integrated indicator of the brand strength “The Real Vologda product” showed that its strength and potential are mostly due to the factors such as physical availability and quality of products, highly rated by consumers, as well as demand from the buyer. At the same time, according to the experts, these factors also received very high weighted coefficients.