2. Roles of family factors on influencing the CBBE
As mentioned in the introduction, Gil, Andrés and Salina (2007) have mentioned that family can affect brand awarenss, associations and perceived quality of a brand. Brand awareness is linked with brand salience. It refers to the ability of customers to recognise a brand in various circumstances. It can be seperated into breadth and depth of brand awareness. Breadth of awareness represents the different circumstances among various products offered that customers can recall the brand. Depth of awareness represents the degree to which a customer can recall a brand (Keller K. L., 1993). Values and memories of a family can influence customers to perceive the brand (Gil, Andrés and Salina, …show more content…
It can enhance loyalty of customers to the brand (Gil, Andrés and Salina, 2007). Moreover, reputation and socio-economic background of the family are interrelated to brand resonance. Socio-economic background of a family can foster or destroy loyalty. Japan has a culture which focus on collectiveness and social loyalty. But plutocrat such as Toyota in Japan can destroy this social loyalty by not sharing capital and technologies to others (Gu, Hung and Tse, 2008). Furthermore, Gu, Hung and Tse (2008) have discovered that Guanxi can generate reputation of both the family and the business. Guanxi is the social network of a firm to establish competitive advantage in the business environment. It is popular in the Chinese culture by leveraging guanxi to deal with business matters. Guanxi can be kinships or other social bonds of the family within the society. They can be treated as family reputation and are valuable social capital to the family owned firms (Wright and Kellermanns, 2011). These social capital can affect the relationship with customers, especially with channel members. They can also affect brand performance. However, this can be weakened by increasing competition in the market (Gu, Hung and Tse, 2008).
As for brand performance, Gu, Hung and Tse (2008) suggested that Guanxi, which represents the reputation and socio-economic background of the family can affect
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A brand is a portfolio of qualities associated with a name, which in turn invokes certain images to individuals and hold values beyond the benefits of a product (Iacobucci, 2018). Brand association occurs when customers make a cognitive or emotional association with a particular brand. For instance, when a customer sees a certain color, symbol, logo, or name they automatically can make a connection to a particular brand. Brands start with a name that conveys information, suggest their benefits, or can even be named after their founders (Iacobucci, 2018). In the marketing perspective marketers can control the brand which they are marketing by using catching logos, colors, slogans, or even the products shape and appearance. In marketing a marketer can control the message they are trying to convey but cannot really have control over an individual’s association with that particular brand. Once a customer has an association with a particular brand they may favor the brand based on a past experience or even that individual’s sense of style or they may dislike a brand because of an association they
According to Veloutso & Moutinho (2009, p.315) Brand relationship is defined as the continual exchanges between a specified brand and an established customer, where relationship characteristics of love, association, interdependence and loyalty are developed with the brand. However, Keller (2014, p.365) revealed that consumer-brand relationships are the quality of relationship between brands and consumers. As a result, there are many influences that formulate consumer brand relationship. Basically, brand loyalty , brand equity and trust Escalas and Bettman, (2005, p. 379) are the underpinning factors that generates brand relationships. Furthermore, this developing customer brand relationship constitutes a sum of long term experiences with the brand where the brand is the entirety of the customers experiences with the brand. However, supplementing the long term customer brand relationship, brand communications is the major catalyst in relation to enticing both customer and seller in the long term relationship, hence attaining a brand emotional connection. This brand relationship does not only lodge an essential position in the mental period of a brand connection, rather it stimulates greater sales due to customer retention, less price Vulnerability, superior customer loyalty and advanced profit margin.
According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental
It has been acknowledge (Romaniuk & Sharp 2004) that Brand salience can be defined as the propensity of the brand to be thought of by buyers when they are in a buying situations. A brand awareness strategy depends on how well known the brand is, Brand Salience is forming image to refresh their memory about the brands that can linked to consumer mind as well as the quantity and quality of the cue to brand links (Olson & Peter 2005), it is very important that consumer can connect to their mind as many cues as possible . The level of consumers’ brand awareness necessary to induce purchase varies depending on how and where they make their purchase decision for that product category or form. The brand attitude is focus on evaluating the brand, according to Schiffman and Kanuk (2007) “attitudes are relevant to purchase behavior are formed as a result of direct experience with the product, word-of-mouth information acquired from others, or exposure to mass-media advertising, the internet, and various forms of direct marketing”
Branding is a tool to make the goods of one producer different from another producer (Keller, 2003). Carroll (2008) asserts that branding is a sign of quality, and it is helpful to increase
As Keller (1993, p. 3) argues, “[…] perceptions about a brand as reflected by the brand associations held in consumer memory”. Keller (1998) also suggests that there are three categories that constitute the overall brand perception: attributes; benefits and attitudes. A study conducted by Simms and Trott (2006) explores the brand perception of the MINI stakeholders. Based on their findings researchers established a model that gives a “perspective on a product brand by linking specific brand associations to the image that is developed in the mind of the consumer or stakeholder, and finally linking this to how the image appeals to key stakeholders” (Simms and Trott, 2006) . The application of their model to the MINI brand is presented in Appendix 2. .
The family environment can have a positive or negative effect on academic achievement. The purpose of this study is to understand how a negative family environment can adversely affect academic achievement. It is imperative to understand what is meant by negative family environment for the study to be relevant to the understanding of how it effects academic achievement. This study will address poverty, culture and diversity, homelessness, parental involvement, and teacher beliefs.
The rapid demographics, rising income that leads to increased consumer spending and the increased business environment has helped to make the Chinese market attractive to investors. Despite, the incredible opportunities that the Chinese market has to offer, breaking into the market successfully for some investors it is a hard task to get through the barriers and be successful. Understanding the cultural traits in Chinese is fundamental to the success of any business. However, it is not known to what extent the Chinese cultural characteristics give the competitive advantage to an organization. This paper aims to discuss guanxi and to what degree is it a source of competitive advantage.
Several psychologists have debated the issue of nature versus nurture for many decades. Only to arrive at one reasonable conclusion: Both genes and the environment are important in shaping a person’s behavior. However, individuals are not spared from these and are susceptible to environmental influences. Depending on how their family is structured to how their culture is structured. Nearly every phase of an individual's life teaches a lesson on how to adapt to the world. Parents purposely choose to teach certain ethical views or ideas to their families. These ideas are a crucial part of their heritage or history. Environment can affect morals, etiquette, and quality of life.
Does human interference benefit or hurt the environment and does human advancement necessarily mean environmental degradation? Earth contains multiple ecosystems, from the dense forests to the vast grasslands, the blazing hot deserts to the frigid tundra, and from the freshwaters to the seawaters. Webster’s Dictionary defines ecosystem as “the complex of a community of organisms and its environment functioning as an ecological unit”. Each individual ecosystem has its own inhabitants along with its own special environment. The inhabitants, whether it be animals or plants, have adapted to specifically thrive in their respectful conditions. Humans, on the other hand, can bounce around to and from different ecosystems, even if it is only for a short time. Technological advances have empowered us to survive and thrive even in the harshest conditions. Whenever we move from place to place, we seem to leave our mark. With technology continuing to push the envelope and human population rising, our reach continues to grow along with our carbon footprint. In return, our expansion may be causing nature to retreat. So how can we combat this decline? In today’s modern age, human interference may be necessary to preserve what’s left of nature because of what happens to the environment in consequence to human advancements.
Confucianism is strong in its support of obedience to authority and the importance of good family relationships so that the principle of whom you know in China has a philosophical basis and is not associated with club membership which is what the term refers to in the West. Chinese 'Guanxi' or 'connections' represents a system of cultivations of personal relationships. 'Whom you know3 in social, political and economic life is important since help or a favour given carries with it an implicit recognition that the person assisted might have to return the help given in the future if it is within his or her ability and jurisdiction to do so. Guanxi ties are those of implicit assurances, obligations and understanding between individuals. For example, the value of strong family ties and a social system of getting things done according to 'who one knows' has meant that the building of long-term relationships and trust are central to the way in which people conduct relationships. Also, the costs in management can be lower since there is already an acceptance of the fundamental importance of building trust in relationships and co-operation between people.
The physical structure of the family home in poor neighborhoods can negatively affect the individual family members as well as his or her relationships with others. Inadequate housing has a psychological effect,
Many of us would usually say, “I have a sweet personality, I get it from my mom”. Or maybe you would say, “I’ve become like my friend because I hang around her too much”. Some of us would even say or bring about our ethnicity by saying, “I’m a mestizo and I do not like to go clubbing”. Our environment, culture and genetics play very important roles in personality. Each human being has his or her own unique personality. No one is like another person.
PESTLE acronym describes the six environmental areas that might affect an organization, Political, Economic, Social, Technological, Legal and Environmental. Political factors concerns governmental influences on the environment. It revolves around the particular government in your particular country. It manifest itself through policies, directors and regulations. Economic factors could be interest rates and inflation. Its looks at employment levels. It looks at if the economy is booming or if it is going through a depression. Social aspects of technology are often overlooked by developers at early stages, (Kolois, Read) Social factors include behavior, preference and attitude of the target market. This would include customer expectations,
Brands have become a primary role in modern society, which are included as a main part of a business’s capital (Kapferer, 2004). According to Lin and Hsu (2009) the brand image has been gradually recognized as a major topic for many marketing organizations. An excellent brand image not only helps companies to build market positions, but also makes it stand out from many competitors. Moreover, it is important that a successful brand should establish a good brand’s reputation, thus to win the trust of consumers. The key issues for managing and improving brand image may include following: whether the firms of different type, size or age should concern the same elements of its brand image? What different elements should they pay attention to?