Recognizing and prioritising the effective factors on brand equity in the cosmetic products industries based on brand performance in cosmetic products
Subject Areas :
Industrial Management
Abolghasem Gholamreza Tehrani
1
(Department of Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran)
Hooshang Asadollah
2
(Assistant Professor, Department of Business Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran)
Serajoddin Mohebbi
3
(Assistant Professor, Department of Business Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran)
Shahriar Azizi
4
(Associate Professor, Department of Business Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran)
Received: 2021-01-21
Accepted : 2021-09-18
Published : 2021-11-17
Keywords:
brand performance in the (BMP) market,
cosmetic products,
brand equity (BE),
Abstract :
The aim of this study was to identify and prioritize the factors affecting the special value of the brand by emphasizing the performance of the brand in the cosmetics market. The statistical population of the study was all customers of cosmetic products in Tehran in 1397, which were selected by random sampling cluster sampling method. The sample consisted of 550 customers from ten brands (Mibi Lynn, Erben Dicky, Cover Grill, EVon, Relon, E Tod, McLurray, Oriflame, Clinic), which accounted for about 80 percent of the market share. The research data were collected using questionnaires and secondary information and the research hypotheses were tested using structural equation modeling model and analysis of focal correlation and application of SPSS, LISREL, SAS, STATISTICA software at the brand level. The research findings showed that factors such as brand awareness, attitude, surplus price, brand expansion potential, innovation, distribution and access, advantage, advisory advertising and general perception affect brand equity by emphasizing brand performance. Based on brand awareness results and general perception, they have the greatest impact on brand equity in the cosmetics market. The results also showed that the most widely used product among the statistical community is eye, eyebrow, eyelashes and so on. Market share surveys based on the presence of at least one product from a brand in the customer portfolio also show that the three brands of Etude, Loril Group and Rollon have the largest market share, respectively.
References:
Ahn, J., Park, J. K., & Hyun, H. (2018). Luxury product to service brand extension and brand equity transfer. Journal of Retailing and Consumer Services, 42, 22-28.
Alexander, B., & Nobbs, K. (2020). Multi-sensory fashion retail experiences: The impact of sound, smell, sight and touch on consumer based brand equity. In Global Branding: Breakthroughs in Research and Practice(pp. 39-62). IGI Global.
Atilgan, E., Akinci, S., Aksoy, S., & Kaynak, E. (2009). Customer-based brand equity for global brands: A multinational approach. Journal of Euromarketing, 18(2), 115-132.
Bae, S., Jung, T. H., Moorhouse, N., Suh, M., & Kwon, O. (2020). The Influence of Mixed Reality on Satisfaction and Brand Loyalty in Cultural Heritage Attractions: A Brand Equity Perspective. Sustainability, 12(7), 2956.
Baldauf, A., Cravens, K. S., & Binder, G. (2003). Performance consequences of brand equity management: evidence from organizations in the value chain. Journal of product & brand management. 12, 4/5: 220-34.
Chirani, I., & Fard Sabouri, M. (2008). Powerful Comparison of Domestic and Foreign Brands from Customers' Perspectives, Home Appliance Products in Gilan Province, 3rd International Iranian Brand Conference.
Donio, J. Massari. P., & Passiante, G. (2006). Customer satisfaction and loyalty in a digital environment: an empirical test. Journal of Consumer Marketing 23/7 (2006) 445–457.
Gholamreza Tehrani, A., Asadollah, H., Mohebbi, S., & Azizi, S. (2020). Designing the Model of Factors Affecting the Customer Based Brand Equity on Brand Performance in the Cosmetics Market. Journal of System Management, 6(1), 53-64.
Giri, B. C., Roy, B., & Maiti, T. (2017). Multi-manufacturer pricing and quality management strategies in the presence of brand differentiation and return policy, Computers & Industrial Engineering, 105, 146-157.
Gong, X., Wang, C., Yan, Y., Liu, M., & Ali, R. (2020). What Drives Sustainable Brand Awareness: Exploring the Cognitive Symmetry between Brand Strategy and Consumer Brand Knowledge. Symmetry, 12(2), 198.
Gupta, S., Gupta, T., & Shainesh, G. (2018). Navigating from program loyalty to company loyalty. IIMB Management Review, 30(3), 196-206.
Honarmandi,Z., Sepasei.S., & Azar,A. (2019). Comparing the Impact of Brand Value on Corporate Profit in B2B and B2C Businesses: A Case Study. Iranian Journal of Management Studies.,12 (1),121-147.
Huerta-Álvarez, R., Cambra-Fierro, J. J., & Fuentes-Blasco, M. (2020). The interplay between social media communication, brand equity and brand engagement in tourist destinations: An analysis in an emerging economy. Journal of Destination Marketing & Management, 16, 100413.
Hultman, M., Papadopoulou, C., Oghazi, P., & Opoku, R. (2021). Branding the hotel industry: The effect of step-up versus step-down brand extensions. Journal of Business Research, 124, 560-570.
Hwang, E., Baloglu, S., & Tanford, S. (2019). Building loyalty through reward programs: The influence of perceptions of fairness and brand attachment. International Journal of Hospitality Management, 76, 19-28.
Johnson, H. (2012). 'Genuine Jersey': Branding and Authenticity in a Small Island Culture. Island Studies Journal, 7(2), 235-258.
Keller, K. L. (2020). Leveraging secondary associations to build brand equity: theoretical perspectives and practical applications. International Journal of Advertising, 1-18.
Konecnik, M., & Gartner, B. (2014). Customer-based brand equity for a destination. Annals of Tourism Research, 34(2), 400-421
Kotler, Philip and Waldemar Pfoertsch (2006), B2B Brand Management, Springler.
Kumar, D. S. S., & Murali, D. S. (2020). Brand Awareness and Preference Towards Qualcomm Snapdragon in Mobile among Consumers. International Journal of Management, 10(4), 2019.
Lesmana, R., Sunardi, N., Hastono, H., & Widodo, A. S. (2021). Perceived Quality Membentuk Customer Loyalty via Brand Equity pada Pengguna Smartphone Merek Xiaomi di Tangerang Selatan. Jurnal Pemasaran Kompetitif, 4(2), 157-167.
Liu, Y., Foscht, T., Eisingerich, A. B., & Tsai, H. T. (2018). Strategic management of product and brand extensions: Extending corporate brands in B2B vs B2C markets.Industrial Marketing Management, 71, 147-159.
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McMullan, R., & Gilmore, A. (2012). Customer loyalty: An empirical study. European Journal of Marketing, 42(9/10), 1084–1094.
Merz, M. A., Zarantonello, L., & Grappi, S. (2018). How valuable are your customers in the brand value co-creation process? The development of a Customer Co-Creation Value (CCCV) scale. Journal of Business Research, 82, 79-89.
Mohammadian, M., & Shafihaha, R. (2008). Evaluation of Factors Affecting the Exclusive Value of Mobile Phone Brand from the Consumer Perspective (Using Acker Model)", 3rd International Iranian Brand Conference.
Pappu, R., Quester, P., & Cooksey, R. (2007). Country image and consumer based brand equity: Relationships and implications for international marketing. Journal of International Business Studies, 38, 726–745.
Peters, R. H., & Taylor, L. A. (2017). Intangible capital and the investment-q relation. Journal of Financial Economics, 123(2), 251-272.
Pina, R., & Dias, Á. (2021). The influence of brand experiences on consumer-based brand equity. Journal of Brand Management, 28(2), 99-115.
Putra, A. H. P. K., Nurani, N., Ilyas, G. B., Samiha, Y. T., & Lestari, S. D. (2021). Configure the Symmetrical and Asymmetrical Paths of Brand Equity and Relationship of Firm Created Content and User Generated Content as Antecedent. JURNAL MANAJEMEN BISNIS, 8(1), 90-103.
Radder, L., & Huang, W. (2008). High‐involvement and low‐involvement products: A comparison of brand awareness among students at a South African university. Journal of Fashion Marketing and Management: An International Journal.
Rahman, M., Serrano, M. A. R., Lambkin, M. (2018). Brand management efficiency and firm value: An integrated resource based and signaling theory perspective. Industrial Marketing Management, 72, 112-126.
Rambocas, M., & Sastry, M. K. (2017). Teaching business management to engineers: The impact of interactive lectures. IEEE Transactions on Education, 60(3), 212-220.
Roll, M. (2006). Asian brand strategy: how Asia builds strong brands. Palgrave Macmillan.
Taylor, S. A., Celuch, K., & Goodwin, S. (2004). The importance of brand equity to customer loyalty. Journal of product & brand management.
Tran, T. P., Mai, E. S., & Taylor, E. C. (2021). Enhancing brand equity of branded mobile apps via motivations: A service-dominant logic perspective. Journal of Business Research, 125, 239-251.
Valizadeh, J., Sadeh, E., Javanmard, H., & Davodi, H. (2017). The effect of energy prices on energy consumption efficiency in the petrochemical industry in Iran. Alexandria Engineering Journal, 56(3), 1-16.
Verma, P. (2021). The Effect of Brand Engagement and Brand Love upon Overall Brand Equity and Purchase Intention: A Moderated–Mediated Model. Journal of Promotion Management, 27(1), 103-132.
Wang, Y., Kim, J., & Kim, J. (2021). The financial impact of online customer reviews in the restaurant industry: A moderating effect of brand equity. International Journal of Hospitality Management, 95, 102895.
Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the academy of marketing science, 28(2), 195-211.
Zia, A., Younus, S., & Mirza, F. (2021). Investigating the Impact of Brand Image and Brand Loyalty on Brand Equity: The Mediating Role of Brand Awareness. International Journal of Innovation, Creativity and Change, 15(2), 1091-1106.
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Ahn, J., Park, J. K., & Hyun, H. (2018). Luxury product to service brand extension and brand equity transfer. Journal of Retailing and Consumer Services, 42, 22-28.
Alexander, B., & Nobbs, K. (2020). Multi-sensory fashion retail experiences: The impact of sound, smell, sight and touch on consumer based brand equity. In Global Branding: Breakthroughs in Research and Practice(pp. 39-62). IGI Global.
Atilgan, E., Akinci, S., Aksoy, S., & Kaynak, E. (2009). Customer-based brand equity for global brands: A multinational approach. Journal of Euromarketing, 18(2), 115-132.
Bae, S., Jung, T. H., Moorhouse, N., Suh, M., & Kwon, O. (2020). The Influence of Mixed Reality on Satisfaction and Brand Loyalty in Cultural Heritage Attractions: A Brand Equity Perspective. Sustainability, 12(7), 2956.
Baldauf, A., Cravens, K. S., & Binder, G. (2003). Performance consequences of brand equity management: evidence from organizations in the value chain. Journal of product & brand management. 12, 4/5: 220-34.
Chirani, I., & Fard Sabouri, M. (2008). Powerful Comparison of Domestic and Foreign Brands from Customers' Perspectives, Home Appliance Products in Gilan Province, 3rd International Iranian Brand Conference.
Donio, J. Massari. P., & Passiante, G. (2006). Customer satisfaction and loyalty in a digital environment: an empirical test. Journal of Consumer Marketing 23/7 (2006) 445–457.
Gholamreza Tehrani, A., Asadollah, H., Mohebbi, S., & Azizi, S. (2020). Designing the Model of Factors Affecting the Customer Based Brand Equity on Brand Performance in the Cosmetics Market. Journal of System Management, 6(1), 53-64.
Giri, B. C., Roy, B., & Maiti, T. (2017). Multi-manufacturer pricing and quality management strategies in the presence of brand differentiation and return policy, Computers & Industrial Engineering, 105, 146-157.
Gong, X., Wang, C., Yan, Y., Liu, M., & Ali, R. (2020). What Drives Sustainable Brand Awareness: Exploring the Cognitive Symmetry between Brand Strategy and Consumer Brand Knowledge. Symmetry, 12(2), 198.
Gupta, S., Gupta, T., & Shainesh, G. (2018). Navigating from program loyalty to company loyalty. IIMB Management Review, 30(3), 196-206.
Honarmandi,Z., Sepasei.S., & Azar,A. (2019). Comparing the Impact of Brand Value on Corporate Profit in B2B and B2C Businesses: A Case Study. Iranian Journal of Management Studies.,12 (1),121-147.
Huerta-Álvarez, R., Cambra-Fierro, J. J., & Fuentes-Blasco, M. (2020). The interplay between social media communication, brand equity and brand engagement in tourist destinations: An analysis in an emerging economy. Journal of Destination Marketing & Management, 16, 100413.
Hultman, M., Papadopoulou, C., Oghazi, P., & Opoku, R. (2021). Branding the hotel industry: The effect of step-up versus step-down brand extensions. Journal of Business Research, 124, 560-570.
Hwang, E., Baloglu, S., & Tanford, S. (2019). Building loyalty through reward programs: The influence of perceptions of fairness and brand attachment. International Journal of Hospitality Management, 76, 19-28.
Johnson, H. (2012). 'Genuine Jersey': Branding and Authenticity in a Small Island Culture. Island Studies Journal, 7(2), 235-258.
Keller, K. L. (2020). Leveraging secondary associations to build brand equity: theoretical perspectives and practical applications. International Journal of Advertising, 1-18.
Konecnik, M., & Gartner, B. (2014). Customer-based brand equity for a destination. Annals of Tourism Research, 34(2), 400-421
Kotler, Philip and Waldemar Pfoertsch (2006), B2B Brand Management, Springler.
Kumar, D. S. S., & Murali, D. S. (2020). Brand Awareness and Preference Towards Qualcomm Snapdragon in Mobile among Consumers. International Journal of Management, 10(4), 2019.
Lesmana, R., Sunardi, N., Hastono, H., & Widodo, A. S. (2021). Perceived Quality Membentuk Customer Loyalty via Brand Equity pada Pengguna Smartphone Merek Xiaomi di Tangerang Selatan. Jurnal Pemasaran Kompetitif, 4(2), 157-167.
Liu, Y., Foscht, T., Eisingerich, A. B., & Tsai, H. T. (2018). Strategic management of product and brand extensions: Extending corporate brands in B2B vs B2C markets.Industrial Marketing Management, 71, 147-159.
McConnell, T., & Goodhart, J. (2019). S. Patent No. 10,467,652. Washington, DC: U.S. Patent and Trademark Office.
McMullan, R., & Gilmore, A. (2012). Customer loyalty: An empirical study. European Journal of Marketing, 42(9/10), 1084–1094.
Merz, M. A., Zarantonello, L., & Grappi, S. (2018). How valuable are your customers in the brand value co-creation process? The development of a Customer Co-Creation Value (CCCV) scale. Journal of Business Research, 82, 79-89.
Mohammadian, M., & Shafihaha, R. (2008). Evaluation of Factors Affecting the Exclusive Value of Mobile Phone Brand from the Consumer Perspective (Using Acker Model)", 3rd International Iranian Brand Conference.
Pappu, R., Quester, P., & Cooksey, R. (2007). Country image and consumer based brand equity: Relationships and implications for international marketing. Journal of International Business Studies, 38, 726–745.
Peters, R. H., & Taylor, L. A. (2017). Intangible capital and the investment-q relation. Journal of Financial Economics, 123(2), 251-272.
Pina, R., & Dias, Á. (2021). The influence of brand experiences on consumer-based brand equity. Journal of Brand Management, 28(2), 99-115.
Putra, A. H. P. K., Nurani, N., Ilyas, G. B., Samiha, Y. T., & Lestari, S. D. (2021). Configure the Symmetrical and Asymmetrical Paths of Brand Equity and Relationship of Firm Created Content and User Generated Content as Antecedent. JURNAL MANAJEMEN BISNIS, 8(1), 90-103.
Radder, L., & Huang, W. (2008). High‐involvement and low‐involvement products: A comparison of brand awareness among students at a South African university. Journal of Fashion Marketing and Management: An International Journal.
Rahman, M., Serrano, M. A. R., Lambkin, M. (2018). Brand management efficiency and firm value: An integrated resource based and signaling theory perspective. Industrial Marketing Management, 72, 112-126.
Rambocas, M., & Sastry, M. K. (2017). Teaching business management to engineers: The impact of interactive lectures. IEEE Transactions on Education, 60(3), 212-220.
Roll, M. (2006). Asian brand strategy: how Asia builds strong brands. Palgrave Macmillan.
Taylor, S. A., Celuch, K., & Goodwin, S. (2004). The importance of brand equity to customer loyalty. Journal of product & brand management.
Tran, T. P., Mai, E. S., & Taylor, E. C. (2021). Enhancing brand equity of branded mobile apps via motivations: A service-dominant logic perspective. Journal of Business Research, 125, 239-251.
Valizadeh, J., Sadeh, E., Javanmard, H., & Davodi, H. (2017). The effect of energy prices on energy consumption efficiency in the petrochemical industry in Iran. Alexandria Engineering Journal, 56(3), 1-16.
Verma, P. (2021). The Effect of Brand Engagement and Brand Love upon Overall Brand Equity and Purchase Intention: A Moderated–Mediated Model. Journal of Promotion Management, 27(1), 103-132.
Wang, Y., Kim, J., & Kim, J. (2021). The financial impact of online customer reviews in the restaurant industry: A moderating effect of brand equity. International Journal of Hospitality Management, 95, 102895.
Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the academy of marketing science, 28(2), 195-211.
Zia, A., Younus, S., & Mirza, F. (2021). Investigating the Impact of Brand Image and Brand Loyalty on Brand Equity: The Mediating Role of Brand Awareness. International Journal of Innovation, Creativity and Change, 15(2), 1091-1106.
