With my dissertation topic still to be finally decided upon, I read three pieces in the latter stages of last week looking at image creation and the creation of value through brand building to help with the decision. These were as follows:
1. A model of image creation and image transfer in event sponsorship - Gwinner, K.
2. Image management in sport organisations: the creation of value. Ferrand, A and Pages, M.
3. Measuring Brand Equity across Products and Markets. Aaker, D.
Each article had a slightly different focus, but what I was looking to get out of them was a deeper insight into the creation of value in a brand, and methods that management may undertake in the process of doing so. I'll summarise and highlight key points within each of the articles below and in subsequent posts, both for my benefit to reinforce what I've learnt, and also for those with a keen interest in brand management:
1. A model of image creation and image transfer in event sponsorship - Gwinner, K (1997)
The article opens with a brief introduction on the development of event sponsorship, particularly in the reasons why organisations undertake it. A movement away from the view that event sponsorship should be seen as obligatory suggests that the opportunity for commercialisation has been recognised by organisation management and as a result they expect some form of reasonable return for their initial outlay.
In order to create value from a sponsorship however, it's identified that many features of 'brand association' play a critical role in determining the 'differential response' (ie. the eventual purchase decision). In an attempt to consider the creation of value from event sponsorship the paper looks at what factors are involved in creating image at an event and then the subsequent transfer of this image, to the brand. The article in part relates to celebrity endorsement and this holds significance in the movement of meaning, whereby consumers acquire the meaning of the product through consumption. Meaning movement in the sense moves from the event to the brand when the two are paired together at the event. Image represents the cumulative interpretation of meanings or associations attributed to events by consumers.
The article highlights three main components that form an event's image. These are the type of event (eg. sports related, music related etc), the characterisitics of an event (eg. event size, professional status) and individual factors (eg. number and strength of meanings). Propositions or hypotheses are made throughout identifying the impact sponsorship will eventually have on the brand image.
eg. P2a: Direct experience and/or indirect information (word of mouth/advertising etc) with an event type WILL influence event image.
The transitional process noted by the article was as follows: Determinants of event image - Event Image - Image transfer (moderated by variables) - Brand Image.
Moderating variables are perhaps the key characteristics that determine whether an event's image will project onto the brand image. The factors were as follows:
- Degree of similarity: A product can have either functional or image related similarity with an event. F = when the sponsoring product is actually used by participants eg. INNOCENT drinks. I = where the image of the event is related to the image of the brand. eg. PEPSI and Jackson World Tour (youth, excitement). It's suggested that functional or image based similarites forge stronger ties and help the consumer to link the event image with the brand.
- Level of Sponsorship: Basically, multiple sponsors at an event lessens the probability that a particular brand will forge an association with the event. Different 'levels' of sponsorship attempt to tackle this issue. (ie. higher dollar = increased association [exlusivity])
- Frequency of Event: An ongoing event should have the benefit of more firmly establishing a link between the event and the brand due to repeated exposure). However, this isn't to say that unique, one-off events will not attract large media attention and forge strong associations.
- Product Involvement: Involvement level impacts attitude formation, which is a component of image. In low involvement products, such as energy drinks and cereal bars, purchases are quick and so forging a strong link between an event and brand increases the likelihood of consuming the product. However, high involvement products - such as a new TV, and generally more expensive items require much more information about them. As such, the endorsement will hold little or no relevance to the eventual purchase decision.
Event sponsorship is an INDIRECT form of promotion, that is to say that the product is behind the event itself. The ELM model (Petty and Cacioppo) suggests persuasion occurs along two routes, either central and periphery. The peripheral persuasion route suggests that an attitude change through the association of the object with positive or negative cues. Theorizing from this model, it can be established that peripheral routes (ie. indirect event sponsorship) forge associations that are more beneficial towards low involvement goods. To highlight this the article proposes:
P6a: Brand attitudes of low involvement goods will be strongly influenced by event image.
P6b: Brand attitudes of high involvement goods will be weakly influenced by event image.
P6b: Persuasion processes take place on the peripheral route of the ELM model.
Second and third articles to follow :)
CLD.
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