• Journal of Global Scholars of Marketing Science
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• v.18 no.4
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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.

• Management & Information Systems Review
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• v.38 no.3
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• pp.227-243
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• 2019

The purpose of this study was to examine the influence of experience characteristics of cosmetics brand stores on purchase intention through brand value and product in-store expectations. In addition, by identifying the effects of gender regulation, the study aimed to supplement theoretical studies and to provide practical implications on the experience of cosmetics brand stores. First, we presented educational experiences, aesthetic experiences, and playful experiences as experience characteristics in stores. And we assumed the effect of these experience characteristics on the brand value and the expectation of the product in the store, and the effect of the brand value and the expectation on the purchase intention of the product in the store. 279 data were collected from consumers who had visited cosmetics brand stores, and we analyzed them using structural equation analysis. As a result, both experience characteristics have positive effects on brand value and in-store product expectations, and brand value has positive effects on expectations. In addition, brand value and in-store product expectations have a positive effect on in-store product purchase intention. In moderating effects of gender, the effect of playful experience on brand value is greater in male group, and the impact of educational and aesthetic experience on product expectations is greater in female group. These results contribute to the theoretical expansion of experience research on cosmetic brand stores, and provide strategic implications for experience marketing of cosmetic stores.

• Culinary science and hospitality research
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• v.22 no.7
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• pp.222-234
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• 2016

This study measures the impact of restaurant franchise brand equity and brand value on consumer loyalty and customer satisfaction. The purpose of this study was to investigate the relationship between variables based on previous studies. The survey for this present study was conducted from consumers who visited in a franchise restaurant within three months. in Seoul and the metropolitan area. Research revealed that brand equity and value of the franchise restaurant appeared to have a positive impact on customer loyalty, and then consumer loyalty exhibiting a positive impact on consumer satisfaction. In addition, brand equity and value of the franchise restaurant showed a positive impact on customer loyalty.

• Management & Information Systems Review
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• v.17
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• pp.1-24
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• 2005

The purpose of this study is to figure out the effects of advertisements (functional value, sentimental value, self-expressing value) depending on the gender in regard of the attitude towards the advertisement, brand attitude, purchase intention, and the characteristic and quality of the product. From the study on the university students, there was a meaningful interaction among the independent variables in regard of attitude towards advertisement, brand attitude, purchase intention, and characteristic of the product in the four dependent measurements used for the index of advertisement effects. In terms of the attitude towards advertisements, brand attitude, purchase intention, and the characteristic of the product according to the gender and value suggestion, functional convenience was more influential for men compared to the sentimental convenience and self-expressing value. On the other hand, self-expressing value was more influential for women in terms of the advertisement effect and the characteristic of the product. The main effects depending on the gender were common in four dependent values such as attitude towards advertisement, brand attitude, purchase intention and characteristic of the product, and the average of all values was higher from women. Thereby, it can be said that women show more positive advertisement effects in terms of attitude and purchase than men. The main effects on the value suggestion were meaningfully indicated in advertisement attitude, brand attitude, and characteristic of the product except the purchase intention. Also, the functional and self-expressing value made better advertisement effect, while the sentimental value showed a comparatively lower advertisement effect. In terms of the sentimental value, a comparatively low advertisement effect was shown statistically compared to the functional and self-expressing value in all dependent values, but there was no big difference depending on the gender. That is, in terms of the sentimental value, a separate value suggesting advertisement can be more influential when it is combined with the functional value for men, and for women if it is combined with self-expressing value.

• Management & Information Systems Review
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• v.38 no.2
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• pp.241-254
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• 2019

This study is a study on the consumer reaction to the augmented reality advertisement which is a recent issue. this study was conducted based on the necessity of marketing advertisement technique suitable for the 4th industrial revolution era. First, we present the types of augmented reality ads based on previous studies, and examined the effects of enjoyment and formation of brand attitudes on brand attachment on products or services based on the perceived value of consumers for these types of ads. This study is briefly summarized as follows. Hypothesis (H1) empirical value had a positive effect on pleasure, and hypothesis H2) empirical value also had a positive effect on brand attitude. Hypothesis (H3) symbolic value had a positive effect on pleasure and hypothesis (H4) symbolic value had positive influence on brand attitude. Hypothesis (H5) Practical value has a positive effect on pleasure. Hypothesis (H7) Pleasure affects positively (+) influence on brand attitude. Hypothesis (H8, H9) enjoyment affects affection and brand attitude affects affection positively. Hypothesis (H6) Practical value did not affect brand attitude positively. It can be seen that the augmented reality advertisement communicates with consumers through experience or symbolic side rather than perceive practical value by consumer. The implication of this study is that the augmented reality advertisement is highly interactive with consumers and can induce consumer participation. This means that consumers are more aware of empirical and symbolic values rather than experiencing practical value through augmented reality advertising.

• Journal of the Korean Society of Clothing and Textiles
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• v.28 no.7
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• pp.1007-1018
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• 2004

Luxury fashion brand business is one of the most successful global businesses in these days. The luxury fashion brands with strong brand power permeates through various regions of the world with high added value and buying power. This study was conducted to determine the dimensions of the luxury fashion brand equity so that the fashion marketers can develop strategies to increase their brand power. ID find out the dimensions of the luxury fashion brand equity, qualitative as well as quantitative research methods were employed. Qualitative research was conducted by interviewing 12 consumers who were loyal to the luxury fashion brands. A total of ten dimensions(uniqueness, sophistication, display, economical and utility value, overall pleasure, satisfaction, reputation, trust respect, social acceptance) were identified as a result of the literature review and the qualitative analysis, and a questionnaire was developed based on them. The questionnaire was administered to 250 subjects and the responses were analyzed by factor analysis to confirm the dimensions empirically. As a result of factor analysis, 7 dimensions of fashion luxury brand equity are ＇chic and pleasure＇, ＇trust＇, ＇distinction＇, ＇reputation＇, ＇economical and utility value＇, ＇social acceptance＇, and ＇status＇. First, ＇reputation＇, ＇economical and utility value＇ and ＇social acceptance＇ are similar to the result of the literature review and the qualitative analysis. Next, ＇Chic and pleasure＇ included ＇overall pleasure＇,＇display＇and＇sophistication＇that were identified previously. We knew that People would expect emotional responses such as display through luxury fashion brand. ＇Trust＇ included ＇trust＇ and ＇satisfaction＇ that were identifed previously. ＇Distinction＇ included ＇uniqueness＇ and ＇respect＇ that were identifed previously. Finally, ＇status＇ included ＇sophistication＇ and ＇reputation＇ It seemed that the concept of ＇sophistication＇ was near symbolic rather than descriptive.

• Asia-Pacific Journal of Business
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• v.2 no.1
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• pp.23-48
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• 2011

Generally, higher brand equity ends up with higher market share and higher profitability. However, superior brand equity does not guarantee the success in the market. That is, consumer choice is closely related to brand equity but we need more than brand equity to explain this complex phenomenon. We adopt the customer equity concepts: value equity, brand equity, and retention equity. By incorporating value equity and retention equity into customer equity, it is possible to avoid the problems of using the brand equity only. In the paper, we apply this customer equity concepts to cellular phone and investigate the effects of antecedent variables such as exposure, knowledge, positive experience and negative experience on the components of customer equity. In addition, as surrogate measure of customer lifetime value, the weighted measure of purchase intention, consideration set inclusion, and next purchase is used as dependent variable. We estimate the effects of components of customer equity at the brand level and aggregate level using SURE model. Estimation results show that Apple has currently low market share but has high future potentials and Korean firms have currently high market share but has rather low future potentials.

• Management & Information Systems Review
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• v.25
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• pp.115-142
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• 2008

Much attention has been devoted recently to the concept of brand equity. The Definition of brand equity is the added value with which a brand endows a product. From a consumer's perspective, this added value can be viewed in terms of enhancing a consumer's ability to interpret and store large amounts of information about a product. Online, several different approaches are also need to enhance brand equity of website. Noteworthy, significant research has not been conducted on the effectiveness of experiences in websites. As such, several researchers are discussing mainly as strategic alternatives that websites can use to build brand equity. This article explores the roles of many online brand experience variable like attention, arousal, telepresence, and flow on brand equity factors. And findings show that these kinds of experiences variable can be major factors that lead the better brand association, strong brand loyalty and brand equity.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.57-69
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• 2014

This Study analyzed empirically how do brand value components of consumer perception side effect on receptive degree of product in extension types of vertical brand extension, and how does the difference of receptive degree among products of extension types be showed under the positive effect of brand value. First, brand awareness has positive effect on upward and downward extension, and receptive degree of product is higher in downward extension than upward extension. Second, brand association doesn't have positive effect on upward extension but has positive effect on downward extension. Third, perceived quality showed similar results to brand awareness. Only, receptive degree of upward extension product in high perceived quality is higher than in high brand awareness or in high brand association. Fourth, examining about interaction effect among brand value components, interaction effect between brand awareness and brand association exists in downward extension, interaction effect between brand awareness and perceived quality exists in upward and downward extension, and interaction effect between brand association and perceived quality exists in upward and downward extension. By this interaction effect, the difference of receptive degree among products of extension types grows larger.

• The Journal of the Korea institute of electronic communication sciences
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• v.9 no.8
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• pp.945-953
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• 2014

This study attempts to explore the connectivity among brand personality, shopping value, customer satisfaction and recommendation intention by deriving brand personality image factors of online shopping malls. The analysis results are as follows. First, the brand personality of shopping malls were derived as 'vital', 'familiar', 'credible', 'competent', and 'sophisticated.' Second, shopping value was derived as hedonistic and practical shopping values. Third, it was shown that brand personality of shopping malls has significant impacts on shopping value. In addition, customers' shopping value, customer satisfaction and recommendation intention have significant impacts on each other. It is expected that this study can provide basic information for constructing differentiated marketing strategies in the domestic online shopping malls whose competition is heating up.