Читать книгу Financial Information and Brand Value - Yves-Alain Ach - Страница 12

McQueen et al. (1993) argue that brand value is determined by its strength in the marketplace. This developed strength is used to determine whether or not the brand is dominant and to ensure market position. They have shown that the brand’s products will be purchased in larger quantities, over the longer term, more expensively than those of competitors and that they will better resist competitive attacks because of the brand’s strength.

Aaker (1994) and Keller (1993) consider the perceptions and behaviors of consumers in relation with the brand in their approach to measuring brand equity. Srinivasan (1979) uses consumer sentiment to define brand value, distinguishing between brand and product, and concludes that the brand has its own value independent of the product’s value. The author considers, in addition, that the brand allows the branded product to create value; it is a measure of the brand’s influence on the consumer’s purchase decision. Notoriety, whether spontaneous or not, and image evaluation are the main components of brand equity. Brand valuation depends on the consumer’s preference, who decides to choose this or that product based on their own perception of the brand.

Dobni and Zinkhan’s approach leads to the observation that “the perception of reality is more important than reality itself” (Dobni and Zinkhan 1990, pp. 110–119). The consumer’s perception of the product is the result of the brand image. Thus, the consumer’s purchasing behavior is guided by the message that will enable them to identify the product they are looking for. It is understandable that this notion developed by Dobni and Zinkhan originates from the message communicated by the company owning the brand. This could be considered as an indicator of brand strength according to a marketing perspective. Most studies based on this image concept have been conducted in a framework directly related to the cognitive or psychological elements described by Aaker (1994) and Keller (1993).

Thus, these studies show the effects both on the brand image according to the consumer’s perceptions and conveyed by the company and on the ability of the company to capitalize on the brand value. Aaker (1994) considers that the consumer perceives the brand through three associations that make it possible to build the brand image, and the mixture of these different dimensions constitutes the brand image. These dimensions can be composed according to several degrees and thus make it possible to reach several categories of consumers.

Aaker (1994) thus highlights 11 dimensions of the brand that allow it to be categorized. These are as follows:

 – product attributes that reveal the tangible characteristics, to develop brand image traits and provide consumers with reasons for purchase;

 – the intangible characteristics perceived by consumers, related to their own definition of the product sought;

 – the benefits they want to derive from it, which are both objective and psychological benefits;

 – the price, associated with the consumer’s own concept of price and product;

 – the perceived usefulness to the consumer;

 – the quality of the buyer or consumer who wants to obtain the product;

 – the creation of notoriety in relation to the brand’s image with celebrities who could recommend product use;

 – the humanization of the brand through its personality;

 – classification of products by category;

 – comparison of the brand image that has emerged with that of the competition;

 – the origin or provenance of the brand with which the image induced by the brand is associated.

Brand image is associated with the consumer’s ability to recognize the brand. Keller (1993) defines the dimensions of brand knowledge through associations and attributes that make it possible to materialize brand image. Attributes enhance the consumer’s knowledge of the brand and help to satisfy customer expectations. The author defines the different categories of attributes and differentiates between those that are or are not related to the product. Price, packaging, users and the habitual use of the product are external attributes directly related to the purchasing or consumption act, whereas the elements that enable the physical composition of the product are attributes directly related to the product. This degree of knowledge leads to the purchasing act and the company’s ability to sell its products. As the brand image is made up of image traits, these are the catalyst of purchasing decisions and brand loyalty.

According to Aaker, “the fundamental brand value is often to all the features that constitute its image. This is what gives meaning to the brand. Image traits are points on which purchasing decisions and brand loyalty depend. The various associations that a brand creates help consumers to process the information they receive, allow them to differentiate easily between brands, give them reasons to choose a particular brand, create positive (negative) attitudes, and are the basis for brand extensions” (Aaker 1994). Korchia (2001) specifies that the brand image is part of a logic of a memorial nature. Thus, the purchasing act depends on the consumer’s long-term memory and the knowledge that they might have of the product. Aaker’s (1994) and Keller’s (1993) definitions were later supplemented by conceptualizations of brand equity linking it to its background, brand image and familiarity associated with the brand. Branding can be represented by a network of associations as defined by Engel et al. (1995).