An Empirical Investigation of Brand Equity


Book Description

Purpose: The author presents a model of the brand value drivers, measured by 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. Design/Methodology: The author studied an aggregate dataset for 739 food brands. Six predictors have been controlled for (i.e. marketing investments, price, revenue, perceived quality [organic and functional] and brand ownership), while the impact of the brand equity drivers on brand value has been estimated. The model has been formulated and estimated using a robust OLS procedure. Several data sources have been used in this study, such as market-based data from ACNielsen, as well as information and variable constructs using data from the Bureau Van Dijk Electronic Publishing AIDA financial statements database. Findings: Results suggest that marketing investment, price, revenue, brand ownership and perceived quality are highly associated with brand equity, and consequently with a higher brand value in the food industry. Research limitations/Implications: This study has only studied one industry (food), one industry segment (enriched-food) and one country (Italy). Originality/Value: The majority of marketing studies apply a single research approach and measures. This is the first study of brand equity that combines consumer, financial and marketing approaches. The model contributes to theory and practice in terms of suggesting which business drivers create brand value and what type of brand strategy a firm can apply in order to create brand value.




Statistical Strategies for Small Sample Research


Book Description

Newer statistical models, such as structural equation modeling and hierarchical linear modeling, require large sample sizes inappropriate for many research questions or unrealistic for many research arenas. How can researchers get the sophistication and flexibility of large sample studies without the requirement of prohibitively large samples? This book describes and illustrates statistical strategies that meet the sophistication/flexibility criteria for analyzing data from small samples of fewer than 150 cases. Contributions from some of the leading researchers in the field cover the use of multiple imputation software and how it can be used profitably with small data sets and missing data; ways to increase statistical power when sample size cannot be increased; and strategies for computing effect sizes and combining effect sizes across studies. Other contributions describe how to hypothesis test using the bootstrap; methods for pooling effect size indicators from single-case studies; frameworks for drawing inferences from cross-tabulated data; how to determine whether a correlation or covariance matrix warrants structure analysis; and what conditions indicate latent variable modeling is a viable approach to correct for unreliability in the mediator. Other topics include the use of dynamic factor analysis to model temporal processes by analyzing multivariate; time-series data from small numbers of individuals; techniques for coping with estimation problems in confirmatory factor analysis in small samples; how the state space model can be used with surprising accuracy with small data samples; and the use of partial least squares as a viable alternative to covariance-based SEM when the N is small and/or the number of variables in a model is large.










Brand Co-Creation Tourism Research


Book Description

Responding to the rapidly changing business landscape (including advances in social media and information technology) and the COVID-19 pandemic where customers, visitors, or tourists have become more connected, accessible, and informed than ever before, many brands and firms are investing in brand management and brand co-creation. This new volume provides an enlightening perspective on brand co-creation, brand management, and branding through contemporary conceptual discussions and empirical research studies from thought leaders. Providing a step-by-step guide to the brand co-creation and branding process in the hospitality and tourism industry, the volume identifies cutting-edge measurements, strategies, and metrics for capturing and measuring brand co-creation and highlights best practices in implementing brand management marketing strategies. Starting with a basic understanding of brand (value) co-creation, the volume then explores deeper by defining the concept, describing the ways to measure it, and providing several strategies to capitalize on it. The authors emphasize the interrelationship of these concepts and how they manage brand co-creation. The book illustrates the concepts with examples from around the globe. Topics cover the impact of social media on brand co-creation during the COVID-19 outbreak in the tourism industry, co-branding emerging tourist destinations, analysis of the content of hotel websites, creating better customer value, brand co-creation in e-sports gaming events, post-COVID-19 educational tourism, and more. The volume also presents a chapter on the state-ofthe-art role of augmented reality and virtual reality in improving the customer experience. A synthesis of a decade-long effort in brand co-creation, the book will be valuable to academics, practitioners, consultants, destination management organizations (DMOs), and managers looking to improve brand co-creation pre-, during-, and post-pandemics.







The Antecedents and Consequences of Brand Image


Book Description

Abstract: Due to the fact that brand equity has received significant research attention, brand image in the customer-based brand equity framework, has been recognized as an important concept in marketing and consumer behavior research. While an increasing number of studies have focused on conceptualizing brand image, empirical research on brand image in the restaurant industry has been consistently criticized for deficiencies of theoretical grounding and conceptual rigor. Therefore, there is an urgent need to investigate ways in which brand image can be empirically measured so that researchers can effectively analyze the key variables related to it. The current study attempted to bridge this existing gap by developing an effective brand image measurement and model. Grounded in the foundation of marketing and hospitality literature as well Keller's customer-based brand equity framework, this study developed a conceptual model that explains the relationships between the antecedents and consequences of brand image. The objectives of this research are: 1) to develop reliable and valid scales to measure brand image in a restaurant context; 2) to propose an integrated model of the causal relationship between the antecedents and consequences of brand image, by relying on Keller's customer-based brand equity framework. Based on the proposed model, nine hypotheses were developed with six latent variables. Through focus group interviews and a pretest, the measurements were refined and the questionnaire used for the main study was developed. Data was analyzed using the 417 surveys. A Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) in AMOS 17.0 were employed to evaluate the measurement model, to measure the model fitness of data and to test the research hypotheses and relationships among the latent constructs. The results from the main study revealed a significant relationship between mostly all constructs in the model except the relationship between brand image and attitudinal brand loyalty. The findings clearly showed the primary effect of brand awareness and brand familiarity as the antecedents to brand image. It was concluded that brand awareness drivers brand image, customer satisfaction, brand trust and attitudinal brand loyalty. Moreover, the results indicated the critical mediating effect of brand image between its antecedents and consequences. The study also highlighted the importance of customer satisfaction and trust in order to establishing a customer's attitudinal brand loyalty. From a theoretical perspective, this study developed a brand image scale and proposed an integrated model of brand image in customer-based brand equity framework in a casual dining restaurant context. The study also provides several managerial implications for chain restaurant managers and marketers by stressing the importance of brand image in the hospitality industry with a view to enhancing the marketers' understanding of the factors that may dilute or enhance brand image and thereby provide insights into brand equity management.




The Routledge Handbook of Hotel Chain Management


Book Description

Understanding the global hotel business is not possible without paying specific attention to hotel chain management and dynamics. Chains are big business, approximately 80 percent of hotels currently being constructed around the world are chain affiliated and, in 2014, the five largest brands held over a one million rooms. The high economic importance of the hotel chains and their global presence justifies the academic research in the field however, despite this, there is no uniform coverage in the current body of literature. This Handbook aids in filling the gap by exploring and critically evaluates the debates, issues and controversies of all aspects of hotel chains from their nature, fundamentals of existence and operation, expansion, strategic and operational aspects of their activities and geographical presence. It brings together leading specialists from range of disciplinary backgrounds and regions to provide state-of-the-art theoretical reflection and empirical research on current issues and future debates. Each of the five inter-related section explores and evaluates issues that are of extreme importance to hotel chain management, focusing on theoretical issues, the expansion of hotel chains, strategic and operational issues, the view point of the individual affiliated hotel and finally the current and future debates in the theory and practice of hotel chain management arising from globalisation, demographic trends, sustainability, and new technology development. It provides an invaluable resource for all those with an interest in hotel management, hospitality, tourism and business encouraging dialogue across disciplinary boundaries and areas of study. This is essential reading for students, researchers and academics of Hospitality as well as those of Tourism, Marketing, Business and Events Management.




Handbook of Research on Global Hospitality and Tourism Management


Book Description

The tourism industry is a multi-billion dollar enterprise, with more people from all cultures and nationalities choosing to spend their leisure time traveling and visiting new locations. To exploit this burgeoning market, tourism agencies must carefully consider the desires and goals of travelers from around the world. The Handbook of Research on Global Hospitality and Tourism Management contributes to the body of knowledge on travel and tourism by presenting a global view of the hospitality industry, including theoretical research into industry trends as well as case studies from around the world. This handbook provides travel agents, owner-operators, and students and researchers in the hospitality industry with the latest research, findings, and developments in the field. Within this handbook of cutting-edge research, readers will find chapters and cases on topics such as travel and tourism in a global economy; local, glocal, and international hospitality; challenges in environmental management; cultural cuisine; and destination management, among others.