• 제목/요약/키워드: Customer-Based Brand Equity Model

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The Effects of Customer-Based Brand Equity(CBBE) for Stock Farm Products Brand on Brand Trust, Customer Satisfaction and Repurchase Intentions - Focus on Hoengsung Hanwoo Brand - (축산물 브랜드에 대한 고객기반브랜드자산이 브랜드 신뢰, 고객만족도 및 재구매의도에 미치는 영향 - 횡성한우를 중심으로 -)

  • Kwon, Young-Guk;Kim, Young-Joong
    • Culinary science and hospitality research
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    • 제22권3호
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    • pp.224-239
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    • 2016
  • The purpose of this study is to understand the influence of customer-based brand equity(CBBE) on brand trust, customer satisfaction, and repurchase intention in the stock farm products brand, Hoengsung hanwoo. Based on a total of 301 samples obtained from empirical research, this study reviewed the reliability and fitness of the research model and verified a total of 5 hypotheses using the AMOS program. The hypothesized relationships in the model were tested simultaneously by using a structural equation model(SEM). The proposed model provided an adequate fit of the data, ${\chi}^2=635.175$(p<0.001), df=233, CMIN/DF=2.726, GFI=0.863, NFI=0.859, CFI=0.903, TLI=0.885, RMSEA=0.068. The model's fit, as indicated by these indexes, was deemed satisfactory, thus providing a good basis for testing the hypothesized paths. The SEM showed that the sublevels of CBBE of stock farm product brand such as perceived product quality(${\beta}=.562$) and brand image(${\beta}=.377$) had a positive significant influence on brand trust. In addition, brand trust had a positive significant influence on customer satisfaction(${\beta}=.525$) and repurchase intention(${\beta}=.669$). This study confirms that a firm brand management works as a significant factor in forming brand trust, and, as a result, has a positive impact on its consumer's satisfaction and repurchase intention. Through the studys' results, it is study proposed that there is a needs for establishing effective marketing strategies to improve of regional economies.

Testing for Measurement Invariance of Fashion Brand Equity (패션브랜드 자산 측정모델의 등치테스트에 관한 연구)

  • Kim Haejung;Lim Sook Ja;Crutsinger Christy;Knight Dee
    • Journal of the Korean Society of Clothing and Textiles
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    • 제28권12호
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    • pp.1583-1595
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    • 2004
  • Simon and Sullivan(l993) estimated that clothing and textile related brand equity had the highest magnitude comparing any other industry category. It reflects that fashion brands reinforce the symbolic, social values and emotional characteristics being different from generic brands. Recently, Kim and Lim(2002) developed a fashion brand equity scale to measure a brand's psychometric properties. However, they suggested that additional psychometric tests were needed to compare the relative magnitude of each brand's equity. The purpose of this study was to recognize the psychometric constructs of fashion brand equity and validate Kim and Lim's fashion brand equity scale using the measurement invariance test of cross-group comparison. First, we identified the constructs of fashion brand equity using confirmatory factor analysis through structural equation modeling. Second, we compared the relative magnitude of two brands' equity using the measurement invariance test of multi-group simultaneous factor analysis. Data were collected at six major universities in Seoul, Korea. There were 696 usable surveys for data analysis. The results showed that fashion brand equity was comprised of 16 items representing six dimensions: customer-brand resonance, customer feeling, customer judgment, brand imagery, brand performance and brand awareness. Also, we could support the measurement invariance of two brands' equities by configural and metric invariance tests. There were significant differences in five constructs' mean values. The greatest difference was in customer feeling; the smallest, in customer judgment.

Brand Equity and Purchase Intention in Fashion Products: A Cross-Cultural Study in Asia and Europe (상표자산과 구매의도와의 관계에 관한 국제비교연구 - 아시아와 유럽의 의류시장을 중심으로 -)

  • Kim, Kyung-Hoon;Ko, Eun-Ju;Graham, Hooley;Lee, Nick;Lee, Dong-Hae;Jung, Hong-Seob;Jeon, Byung-Joo;Moon, Hak-Il
    • Journal of Global Scholars of Marketing Science
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    • 제18권4호
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    • pp.245-276
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    • 2008
  • Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

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Development of brand equity index model and a strategy to improve brand equity: Focus on National Federation of Fisheries Cooperatives (브랜드 자산가치 지수 모형 개발 및 브랜드 가치 향상을 위한 전략방향 : 수협을 중심으로)

  • Cho, Yong Jun;Myoung, Soo Ah
    • Journal of the Korean Data and Information Science Society
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    • 제24권6호
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    • pp.1231-1239
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    • 2013
  • Recently, successful management of the brand is more important than anything else to enhance the competitiveness of enterprises and increase customer loyalty. Most customers evaluate value and image of an enterprise in accordance with their experience of its goods and service. This study focused on the Fisheries Cooperative Association representative brand for the marketing point of view and attitude shall establish a scheme that can identify. We suggest a model that can measure the brand equity index (BEI) for equity. Based on the survey, we intended to provide the strategic direction and derive important factors for improving brand equity.

Relationships among Brand Equity Components: An Exploratory Study of the Moderating Role of Product Type (품패자산조성부분간적상호관계(品牌资产组成部分间的相互关系): 관우산품충류조절작용적탐색연구(关于产品种类调节作用的探索研究))

  • Moon, Byeong-Joon;Park, Won-Kyu;Choi, Sang-Chul
    • Journal of Global Scholars of Marketing Science
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    • 제20권1호
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    • pp.98-109
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    • 2010
  • Research on the construction, measurement, and management of brand equity has been extensive since David A. Aaker(1991) and Kevin Lane Keller(1993) first advanced the concept. Recently, much attention has been devoted to the components of brand equity: brand awareness, perceived quality, brand image, and brand loyalty. This study explores the relationships among these components, focusing particularly on the moderating role of product type (utilitarian vs. hedonic) in their causal relationships. A model to study the relationship among components of brand equity, particularly the moderating role of product type, is featured in Figure 1. The hypotheses of the study are proposed as follows: that consumers' brand awareness has a positive influence on brand loyalty and brand image; that consumers' perceived quality has a positive influence on brand loyalty and brand image; that consumers' brand image influences brand loyalty positively; and that relationships among components of brand equity will be moderated by product type. That is, in the case of utilitarian products, the impact of perceived quality on brand loyalty will be relatively stronger, whereas with hedonic products the impact of brand image on brand loyalty will be relatively stronger. To determine the products for the study, a pre-test of 58 college students in the Seoul metropolitan area was conducted based on the product type scale. As a result, computers were selected as the utilitarian product and blue jeans became the hedonic product. For each product type, two brands were selected: Samsung and HP for computers, and Levis and Nix for blue jeans. In the main study, 237 college students in the metropolitan area were surveyed to measure their brand awareness, perceived quality, brand image, and brand loyalty toward the selected two brands of each product type. The subjects were divided into two groups: one group (121 subjects) for computers, the other (116 subjects) for blue jeans. The survey questionnaires for the study included four parts: five questions on brand awareness and four questions each on perceived quality, brand image, and brand loyalty. All questions were to be answered using 7-point Likert scales. The data collected by the survey were processed to assess reliability and validity, and the causal relationships were analyzed to verify the hypotheses using the AMOS 7 program, a tool for analyzing structural equation modeling. A confirmatory factor analysis assessed the appropriateness of the measurement model, and the fit indices denoted that the model was satisfactory. The relationships among the components of brand equity were also analyzed using AMOS 7. The fit indices of the structural model denoted that it was also satisfactory. The paths in the structural model as will be seen in Figure 2 show that perceived quality affects brand image positively, but that brand awareness does not affect brand image. Moreover, it shows that brand awareness, perceived quality, and brand image are positively related with brand loyalty, and that this relationship is moderated by product type. In the case of utilitarian products, perceived quality has relatively more influence on brand loyalty. Conversely, in the case of hedonic products, brand image has relatively more influence on brand loyalty. The results of this empirical study contribute toward the advancement of our understanding of the relationships among the components of brand equity and expand the theoretical underpinnings for brand equity measurement. It also helps further our understanding of the effect of product type on customer-based brand equity. In a marketing management practice perspective, these results may provide managerial implications for building and maintaining brand equity effectively.

Dynamic Strategies for Enhancing Apartment Brand Equity in Korean Housing Market (아파트 브랜드 자산 형성 과정 분석을 통한 관리 전략 - System Dynamics를 활용한 전략 수립 -)

  • Choi, Minji;Park, Moonseo;Lee, Hyun-Soo;Hwang, Sungjoo
    • Korean Journal of Construction Engineering and Management
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    • 제14권3호
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    • pp.65-77
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    • 2013
  • Apartment brand has been used as a new strategy in Korean housing market to fulfill customer's changing needs for buying houses. A number of construction companies have succeeded in brand awareness and image building, however, they still struggle to establish brand loyalty and manage brand equity elements in balance. The purpose of this study is to analyze the brand equity building process of apartment products in Korean housing market and determine causal relationships among variables to propose strategies for long-term prosperity of the construction companies. System Dynamics modeling method is applied to describe how variables affect and are linked to each other in terms of building equity and enhancing company profits from customers' brand awareness to brand loyalty. Based on the analysis model, strategies for construction companies depending on their market share were proposed and this may support the company to achieve financial success and competitiveness among its competitors in the fast-changing market.

Analysis of the Factors Affecting Customer Satisfaction and Customer Loyalty in a Family Restaurant Chain (체인 패밀리 레스토랑의 고객 만족 및 고객 충성도에 미치는 요인 분석)

  • Kim, Soon-Hong;Yoo, Byoung-Kook
    • Journal of Distribution Science
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    • 제13권5호
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    • pp.103-111
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    • 2015
  • Purpose - When it comes to first impressions of family restaurants, people basically think of the following factors: cozy, a refreshing space, indoor lighting, atmospheric music, the best-quality service through mutual interactions with employees, birthday events, follow-up customer management, brand image, and many others. Focusing on such family restaurants characteristics, with consumption experience and customer satisfaction determined as mediator variables, this study looks into the selection factors that affect customer loyalty when choosing a family restaurant. Subsequently, the study conducts an empirical analysis of these selection factors with the greatest influence. Research design, data, and methodology - This study analyzed 200 total surveys of family restaurant customers including college students, workers, housewives, and others. The survey was conducted over two weeks in May 2014. For statistical processing, SPSS 21 was used for factor analysis and reliability analysis as well as AMOS for structural equation analysis. In terms of a variable that would influence either consumption experience or customer satisfaction at the restaurants, the study introduced the concept of customer equity. The study designed a model based on a hypothesis developed using the following factors: customer encounter service value, customer convenience value, brand equity, relationship equity, and other factors defined as components of customer equity by Rust et al. (2000) determined as independent variables as well as with customer experience and customer satisfaction set as mediator variables. The hypothesis, after all, assumed that customer loyalty would be positively (+) influenced. Results - The analysis results from the study reported that brand value, customer encounter service value, and relationship value have positive (+) effects on consumption experience and customer satisfaction. However, as for customer convenience value, this turned out not to have a statistically significant influence on consumption experience and customer satisfaction. In regard to a relation between consumption experience and customer satisfaction, the results showed that the former affects the latter, and in terms of intervening variables, both of these appeared to have a positive (+) effect on customer loyalty. Conclusions - This study suggests that family restaurants should look for strategies that focus on how to promote customer relationships. For example, restaurants could try birthday events or discount events to achieve this goal. Since the study ended up realizing relatively low levels of suitability and statistical significance, the path of the study changed. After all, in order to increase suitability and statistical significance, the study had to eliminate factors such as service quality and others and for this reason the study was unable to conduct the analysis as initially planned. In addition, the data samples of the research were mainly gathered from students, which made it hard to say that the analysis was carried out on samples from every different group. Future research should analyze the characteristics of each group of customers for factors affecting customer satisfaction and customer loyalty in the family restaurant chain.

The Relationship among Country of Origin, Brand Equity and Brand Loyalty: Comparison among USA, China and Korea (원산지효과, 상표자산 및 상표충성 간의 관계에 관한 연구: 미국, 중국, 한국의 비교분석)

  • Ko, Eun-Ju;Kim, Kyung-Hoon;Kim, Sook-Hyun;Li, Guo-Feng;Zou, Peng;Zhang, Hao
    • Journal of Global Scholars of Marketing Science
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    • 제19권1호
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    • pp.47-58
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    • 2009
  • The marketing environment has become competitive to an extent that requires firms to target their products at markets that span national boundaries. However, competitive clout cannot be achieved in global consumer markets unless firms thoroughly understand and adequately respond to the core values and needs of those consumers. Brand equity is one of the most important assets to a company. Especially in sportswear markets, brand equity is the crucial value added to a product by its brand name. Factors such as country of origin also influence customer's attitude towards brand equity. Therefore, this paper discusses the relationship between country of origin effect and brand equity, and how they influence consumers' loyalty for respective brands. This paper focused on the sports shoes market, because it is an increasing area of opportunity for world manufacturers. The objectives of this study were the following. (1) Test the effect of country of origin on brand equity. (2) Test how brand equity influences consumers' brand loyalty. (3) Find whether there are differences in the effects of country of origin and brand equity among the three countries. (4) Find whether there are differences in the effects of country of origin and brand equity among the different lifestyles. Based on the review of literature results, the hypotheses are concluded as the following: H1-a: Country image has positive influence on country of origin. H1-b: Product perception has positive influence on country of origin. H2-a: Perceived quality has positive effect on brand equity. H2-b: Perceived price has positive effect on brand equity. H3: Country of origin has positive effect on brand equity. H4: Brand equity has a positive impact on brand loyalty. Research model was constructed (see Fig. 1). After data analysis, the following results were concluded: sports shoes purchase behavior showed significant differences among Korean, Chinese, and American consumers for favorite brand, purchased brand, purchased place, information usage, and favorite sports games. The results of this study also extend the research of the relationship among country of origin, brand equity and brand loyalty to the sports shoes market. Brand equity was proven to have a significant relationship with brand loyalty for all countries. The factors which can influence brand equity are different for different countries. The third finding of this paper is that we identified different three lifestyles, adventurer, follower, and laggard, for Korean, Chinese and American consumers. Without the nationality boundary, seeing the emergence of a new group of consumers who have similar preferences and buy similar brands is more important. All of the consumers consider brand equity to keep their brand loyalty. Perceived price is the only factor which can influence brand equity for adventurers; brand is more important for them. The laggards were not influenced by any factor. All of the factors expect perceived price are important for the followers. Marketing managers should consider brand equity when introducing their brand into a new market. Also localization is the basic strategy that all the sports shoes companies should understand. But as a global brand, understanding the same characteristics for each country is more important to build global strategy.

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A study on the development of the Customer-Based Rice Brand Equity Model (쌀 브랜드 자산 평가모형의 개발에 관한 연구)

  • Kim, Deok-Hyeon;Ha, Ji-Young;Lee, Seung-Hyun;An, Wook-Hyun
    • Journal of Agricultural Extension & Community Development
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    • 제21권3호
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    • pp.215-241
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    • 2014
  • As brand has increasingly influenced on marketing activities, local government, agricultural enterprises, and individual farmhouses autonomously develop and promote their own brands in the field of agrifood. Among developed brands, however, it could be possible for products with having no competitiveness and continuous control to lapse in the marketing. This study aimed to try develop to brand equity model in order for agri-food brands to evaluate and complement in the agricultural company. For doing this, ERRC were administered to interview the brands experts to discuss rice. The results of the analyses indicated that the areas with attribute weight of assets may consider bonding with customers for enhancing the value in the brand equity.

Estimation of a Structural Equation Model Including Brand Choice Probabilities (브랜드 선택확률 분석을 위한 구조방정식 모형)

  • Lee, Sang-Ho;Lee, Hye-Seon;Kim, Yun-Dae;Jun, Chi-Hyuck
    • Journal of Korean Institute of Industrial Engineers
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    • 제36권2호
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    • pp.87-93
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    • 2010
  • The partial least squares (PLS) method is popularly used for estimating the structural equation model, but the existing algorithm may not be directly implemented when probabilities are involved in some constructs or manifest variables. We propose a structural equation model including the brand choice as one construct having brand choice probabilities as its manifest variables. Then, we develop a PLS-based algorithm for the structural equation model by utilizing the multinomial logit model. A case is introduced as an application and simulation studies are performed to validate the proposed algorithm.