Marketing Mix Elements and Brand Equity
Any marketing effort will be positively related to brand equity when it leads to a more favorable behavioral response to the focal product than to the equivalent unbranded product. As proposed in the conceptual frame- work, managerial efforts manifested in controllable mar- keting actions are related to brand equity through the mediation of the dimensions of brand equity. Therefore, to create, to manage, and to exploit brand equity, the relation- ships of marketing efforts to the dimensions of brand equity must be determined.
We investigate consumers’ perceptions of five selected strategic marketing elements: price, store image, distribu- tion intensity, advertising spending, and frequency of price
promotions. The selected factors do not embrace all types of marketing efforts but are representative enough to dem- onstrate the relationships between marketing efforts and the formation of brand equity.
Price. Consumers use price as an important extrinsic cue and indicator of product quality or benefits. High- priced brands are often perceived to be of higher quality and less vulnerable to competitive price cuts than low- priced brands (Blattberg and Winniewski 1989; Dodds, Monroe, and Grewal 1991; Kamakura and Russell 1993; Milgrom and Roberts 1986; Olson 1977). Therefore, price is positively related to perceived quality. Rao and Monroe (1989) show that a positive relationship between price and perceived quality has been supported through previous re- search. By increasing perceived quality, price is related positively to brand equity.
Hypothesis 2a: The perceived quality of a brand is re- lated positively to the extent to which the price of the brand is perceived to be high.
Marketing Mix Elements and Brand EquityAny marketing effort will be positively related to brand equity when it leads to a more favorable behavioral response to the focal product than to the equivalent unbranded product. As proposed in the conceptual frame- work, managerial efforts manifested in controllable mar- keting actions are related to brand equity through the mediation of the dimensions of brand equity. Therefore, to create, to manage, and to exploit brand equity, the relation- ships of marketing efforts to the dimensions of brand equity must be determined.We investigate consumers’ perceptions of five selected strategic marketing elements: price, store image, distribu- tion intensity, advertising spending, and frequency of pricepromotions. The selected factors do not embrace all types of marketing efforts but are representative enough to dem- onstrate the relationships between marketing efforts and the formation of brand equity.Price. Consumers use price as an important extrinsic cue and indicator of product quality or benefits. High- priced brands are often perceived to be of higher quality and less vulnerable to competitive price cuts than low- priced brands (Blattberg and Winniewski 1989; Dodds, Monroe, and Grewal 1991; Kamakura and Russell 1993; Milgrom and Roberts 1986; Olson 1977). Therefore, price is positively related to perceived quality. Rao and Monroe (1989) show that a positive relationship between price and perceived quality has been supported through previous re- search. By increasing perceived quality, price is related positively to brand equity.Hypothesis 2a: The perceived quality of a brand is re- lated positively to the extent to which the price of the brand is perceived to be high.
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