Brand equity measurement from a formative approach
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Published
18-09-2018
Isabel Buil
Eva Martínez Salinas
Leslie de Chernatony
Abstract
Companies need to measure brand equity to make the best tactical and strategic decisions related to this intangible asset. Therefore, this paper develops a measure of brand equity using a formative approach. Unlike previous research, this study proposes a second-order formative model and empirically validates this in two countries, Spain and the United Kingdom. With this aim, in addition to carrying out an individual analysis for each country, the measurement invariance is assessed following the recent procedure suggested by Diamantopoulos and Papadopoulos (2010). Results show that brand equity construct is characterised by some variations in its composition in the countries analysed.
How to Cite
Buil, I., Martínez Salinas, E., & de Chernatony, L. (2018). Brand equity measurement from a formative approach. Cuadernos De Gestión, 10(3), 167–196. https://doi.org/10.5295/cdg.100204ib
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Keywords
Brand equity, Formative measurement models, Measurement invariance, Spain, United Kingdom
References
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Bravo, R.; Fraj, E. Y Martínez, E. (2007): “Family as a Source of Consumer-based Brand Equity”, Journal of Product and Brand Management, Vol. 16, No. 3, pp. 188-199.
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Fernández, M. Y González, M. (2006): “Brand Equity in the European Fruit and Vegetable Sector: A Transaction Cost Approach”, International Journal of Research in Marketing, Vol. 23, pp. 31-44.
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Atilgan, E.; Aksoy, S. Y Akinci, S. (2005): “Determinants of the Brand Equity: A Verification Approach in the Beverage Industry in Turkey”, Marketing Intelligence & Planning, Vol. 23, No. 2/3, pp. 237-248.
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Blackston, M. (1990): “Price Trade-offs as a Measure of Brand Value”, Journal of Advertising Research, Vol. 30, pp. 3-6.
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Bravo, R.; Fraj, E. Y Martínez, E. (2007): “Family as a Source of Consumer-based Brand Equity”, Journal of Product and Brand Management, Vol. 16, No. 3, pp. 188-199.
Chen, K.J. (2001): “Using Free Association to Examine the Relationship between the Characteristics of Brand Associations and Brand Equity”, Journal of Product and Brand Management, Vol. 10, No. 7, pp. 439-451.
Christodoulides, G. y de Chernatony, L. (2004): “Dimensionalising On- and Offline Brands’ Composite Equity”, Journal of Product and Brand Management, Vol. 13, No. 3, pp. 168-179.
Cobb-Walgren, C.; Ruble, C.A. Y Donthu, N. (1995): “Brand Equity, Brand Preference and Purchase Intent”, Journal of Advertising, Vol. 24, No. 3, pp. 25-40.
Craig, C.S. Y Douglas, S.P. (2005): International Marketing Research, 3ª Ed., London, UK: John Wiley & Sons.
de Chernatony, L.; Harris, F. Y Christodoulides, G. (2004): “Developing a Brand Performance Measure for Financial Services Brands”, The Service Industries Journal, Vol. 24, No. 2 (marzo), pp. 15-33.
Dean, D.H. (2004): “Evaluating Potential Brand Associations through Conjoint Analysis and Market Simulation”, Journal of Product and Brand Management, Vol. 13, No. 7, pp. 506-513.
del Río, A.B.; Vázquez, R. E Iglesias, V. (2001): “The Effects of Brand Associations on Consumer Response”, Journal of Consumer Marketing, Vol. 18, No. 5, pp. 410-425.
del Río, A.B.; Vázquez, R. E Iglesias, V. (2002): “El Valor de Marca: Perspectivas de Análisis y Criterios de Estimación”, Cuadernos de Gestión, Vol. 1, No. 2, pp. 87-102.
Delgado, E. (2003): “Controversia Conceptual sobre el Capital de Marca: Propuesta de un Marco Teórico de Análisis”, Revista Europea de Dirección y Economía de la Empresa, Vol. 12, No. 3, pp. 7-24.
Delgado, E. Y Munuera, J.L. (2001): “Medición del Capital de Marca con Indicadores Formativos”, Investigación y Marketing, Vol. 75, pp. 16-20.
Diamantopoulos, A. (2006): “The Error Term in Formative Measurement Models: Interpretation and Modelling Implications”, Journal of Modelling Management, Vol. 1, pp. 7-17.
Diamantopoulos, A. Y Papadopoulos (2010): “Assesing the Cross-national Invariance of Formative Measures: Guidelines for International Business Researchers”, Journal of International Business Studies, Vol. 41, pp. 360-370.
Diamantopoulos, A.; Riefler, P. Y Roth, K.P. (2008): “Advancing Formative Measurement Models”, Journal of Business Research, Vol. 61, No. 12, pp. 1203-1218.
Diamantopoulos, A. Y Winklhofer, H.M. (2001): “Index Construction with Formative Indicators: An Alternative to Scale Development”, Journal of Marketing Research, Vol. 38, mayo, pp. 269-277.
Edwards, J.R. (2001): “Multidimensional Constructs in Organizational Behavior Research: An Integrative Analytical Framework». Organizational Research Methods, vol. 4, núm. 2, págs. 144-192.
Erdem, T.; Swait, J. Y Valenzuela, A. (2006): “Brands as Signals: A Cross-country Validation Study”, Journal of Marketing, Vol. 70, enero, pp. 34-49.
Farquhar, P.H. (1989): “Managing Brand Equity”, Marketing Research, pp. 24-33.
Fernández, M. Y González, M. (2006): “Brand Equity in the European Fruit and Vegetable Sector: A Transaction Cost Approach”, International Journal of Research in Marketing, Vol. 23, pp. 31-44.
Fornell, C. (1982): A Second Generation of Multivariate Analysis. Praeger, New York.
Grover, R. Y Srinivasan, V. (1992): “Evaluationg the Multiple Effects of Retail Promotions on Brand Loyal and Brand Switching Segments”, Journal of Marketing Research, Vol. 29, febrero, pp. 76-89.
Hair, J.F.; Black, B.; Babin, B.; Anderson, R.E. Y Tatham, R.L. (2006): Multivariate Data Analysis, 6ª Ed., Upper Saddle River, Prentice Hall, N.J.
Hofstede, G. (2001): Culture’s Consequences, Comparing Values, Behaviors, Institutions, and Organizations across Nations, Thousand Oaks CA: Sage Publications.
Hsieh, M.H. (2002): “Identifying Brand Image Dimensionality and Measuring the Degree of Brand Globalization: A Cross-National Study”, Journal of International Marketing, Vol. 10, No. 2, pp. 46-67.
Hsieh, M.H. (2004): “Measuring Global Brand Equity Using Cross-National Survey Data”. Journal of International Marketing, Vol. 12, No. 2, pp. 28-57.
Hult, G.T.M.; Ketchen, D.J.; Griffith, D.A.; Finnegan, C.A.; Gonzalez-Padron, T.; Harmancioglu, N.; Huang, Y.; Talay, M.B. Y Cavusgil, S.T. (2008): “Data Equivalence in Cross-Cultural International Business Research: Assessment and Guidelines”, Journal of International Business Studies, Vol. 39, No. 6, pp. 1027-1044.
Interbrand. Best Global Brands 2006. A Ranking by Brand Value. Disponible en: http://www.interbrand.com/best_brands_2006.asp.
Jarvis, C.B.; MacKenzie, S.B. Y Podsakoff, P.M. (2003): “A Critical Review of Construct Indicators and Measurement Model Misspecification in Marketing and Consumer Research”, Journal of Consumer Research, Vol. 30, pp. 199-218.
Jung, J. Y Sung, E-Y. (2008): “Consumer-based Brand Equity: Comparisons among Americans and South Koreans in the USA and South Koreans in Korea”, Journal of Fashion Marketing and Management, Vol. 12, No. 1, pp. 24-35.
Keller, K.L. (1993): “Conceptualizing, Measuring, and Managing Customer-Based Brand Equity”, Journal of Marketing, Vol. 57, pp. 1-22.
Keller, K.L. (2007): Strategic Brand Management: Building, Measuring, and Managing Brand Equity. 3ª Ed. New York: Prentice Hall.
Keller, K.L. Y Lehmann, D.R. (2006): “Brands and Branding: Research Findings and Future Priorities”, Marketing Science, Vol. 25, No. 6, pp. 740-759.
Kim H. Y Kim, W.G. (2005): “The Relationship between Brand Equity and Firms’ Performance in Luxury Hotels and Chain Restaurants”, Tourism Management, Vol. 26, pp. 549-560.
Kim, K.H.; Kim, K.S.; Kim, D.Y.; Kim, J.H. Y Kang, S.H. (2008): “Brand Equity in Hospital Marketing”, Journal of Business Research, Vol. 61, pp. 75-82.
Kline, R.B. (2005): Principles and Practice of Structural Equation Modeling, 2ª Ed., The Guilford Press, New York.
Koçak, A.; Abimbola, T. Y Özer, A. (2007): “Consumer Brand Equity in a Cross-cultural Replication: An Evaluation of a Scale”, Journal of Marketing Management, Vol. 23, No. 1/2, pp. 157-173.
Konecnik, M. Y Gartner, W.C. (2007): “Customer-Based Brand Equity for a Destination”, Annals of Tourism Research, Vol. 34, No. 2, pp. 400-421.
Krishnan, H.S. (1996): “Characteristics of memory associations: A consumer-based brand equity perspective”, International Journal of Research in Marketing, Vol. 13, pp. 389-405.
Kumar, V. (2000): International Marketing Research, Prentice Hall, Upper saddle River, NJ.
Lassar, W.; Mittal, B. Y Sharma, A. (1995): “Measuring Customer-based Brand Equity”, Journal of Consumer Marketing, Vol. 12, No. 4, pp. 11-19.
Lee, J-S. Y Back, K-J. (2008): “Attendee-based Brand Equity”, Tourism Management, Vol. 29, pp. 331-344.
Leone, R.P.; Rao, V.R.; Keller, K.L.; Luo, A.M.; McAlister, L. Y Srivastava, R. (2006): “Linking Brand Equity to Customer Equity”, Journal of Service Research, Vol. 9, No. 2, pp. 125-138.
Low, G.S. Y Lamb, Ch.W. (2000): “The Measurement and Dimensionality of Brand Association”, Journal of Product and Brand Management, Vol. 9, No. 6, pp. 350-368.
MacKenzie, S.B.; Podsakoff, P.M. Y Jarvis, C.B. (2005): “The Problem of Measurement Model Misspecification in Behavioral and Organizational Research and some Recommended Solutions”, Journal of Applied Psychology, Vol. 90, No. 4, pp. 710-730.
Maio Mackay, M. (2001): “Evaluation of Brand Equity Measures: Further Empirical Results”, Journal of Product and Brand Management, Vol. 10, No. 1, pp. 38-51.
Malhotra, N.K.; Peterson, M. Y Kleiser, S.B. (1999): “Marketing Research: A State-ofthe-Art Reivew and Diretions for the Twenty-First Century”, Journal of the Academy of Marketing Science, Vol. 27, No. 2, pp. 160-183.
Martin, G.S. Y Brown, T.J. (1990): “In Search of Brand Equity: The Conceptualization and Measurement of the Brand Impression Construct”, en M.L. Childers et al. (eds.): Marketing Theory and Applications, Vol. 2 (pp. 431-438), Chicago: American Marketing Association.
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