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标题:E-marketing Strategy of Challenges and Opportunities Facing Brand Management: An Introduction to the Special Issue原文:Investor Expectations and Brand Equity Brand managers may be subject to the whims of skittish investors devoted to quarterly earnings statements. Unprecedented levels of merger and acquisition activity on Wall Street in the late 1980s, often involving leveraged buyouts, loaded buying companies and their managers with heavy debt. Squeezed by pressure from investors and lending institutions, brand managers have felt pressures to ( 1) produce short-term cash flows to meet debt coverage; ( 2) produce steady, predictable growth in earnings; and ( 3) justify how and why they expect investments in marketing strategies to add value to the company.They have responded in predictable ways to enhance short-term cash flows. First, brand prices increased faster than inflation across many product categories, increasing the vulnerability of national brands to growth by private labels of similar quality. This led to Marlboro Friday (April 2, 1993), when Philip Morris dramatically reduced prices to stave off competition from lower-priced cigarettes and set a precedent for other firms (Giles 1993). Second, as noted, brand managers have increased reliance on trade and consumer discounts while reducing spending on advertising. Because of slow decay in the short term, cuts in advertising have fallen straight to the bottom line. Advertisings share of the marketing budget has shifted downward from over 60% to less than one-third (Landler, Schiller, and Therrien 1991). Some marketers maintain that advertising builds long-term profitability through image differentiation, whereas promotions dilute brand value by focusing on price and discounts rather than a products distinctive features and benefits. Others question the long-term value of advertising (always difficult to measure precisely) and focus on the visible ability of promotions to affect sales. Boulding, Lee, and Staelin (1994) provide evidence for the long-term benefits of advertising and sales over promotions in creating product differentiation, possibly resolving the controversy. The quest for steady, predictable growth in profits has led to seeming risk aversion on the part of product managers. Cost savings have made it easier to introduce new products using existing brand names. The result has sometimes been a focus on incremental improvements rather than genuinely new products capable of outmaneuvering existing products or opening up new markets. Reliance on brand name alone or relatively minor product changes to differentiate an offering simply results in mindless extensions and competitive clutter. Although it probably has prevented inroads by lower-priced alternatives in a few categories, in others it has led to increased buyer confusion and resistance. The trade, ever pressed for valuable shelf space, has responded with an array of special fees to discourage such proliferation. And it has affected adversely previously well-defined brand meanings and identities (Broniarczyk and Alba 1994). General Mills, for example, seemingly ignored established brand associations when it introduced Multi-Grain Cheerios. It originally treated this as a new flavor rather than recognizing the inconsistency with Cheerios long-term nutritional association with oats. Another product, Honey Gold Wheaties, has brought associations of added sugar to a well-established brand known as the Breakfast of Champions. Although these products remain on the market, they have potential to dilute the equity in the original brands (Loken and John 1993).Previous research dealing with brand extensions had identified sound bases for success and found brand affect and the similarity between original and extension product categories as important factors (Aaker and Keller 1990; Keller and Aaker 1992). Several articles in this special issue offer additional insight to aid brand managers. Broniarczyk and Alba (1994) focus on the role of brand-specific associations as distinct from category-specific ones. Their findings indicate that these associations actually may dominate brand affect and category similarity. Extensions to dissimilar categories that value the brand association should be more preferred than those to similar categories that do not. Their research also provides a rationale for why brands can extend successfully to dissimilar product categories. Dacin and Smith (1994) discuss two experiments and a consumer survey that examine the effects of three brand portfolio variables on the favorability of and confidence shown by consumers judgments regarding future extensions. Their research suggests that brand extension success is affected by the portfolio of products associated with the brand and extending into many different product categories may be beneficial for a brand so long as the variance in quality remains low throughout the portfolio.Also, the brand manager often can implement line extensions in which minor variants of a single product are marketed under the same brand name. Research reported by Reddy, Holak, and Bhat (1994) assembles an extensive cross-sectional and time series database from a variety of sources and, using econometric analyses, empirically investigates the determinants of success for line extensions in the cigarette industry. The authors note the consistency of their empirical findings with propositions that previously had been based on experiments or argued primarily on conceptual grounds. They also provide further support for the conclusion of Dacin and Smith that, when managed well, extensions help in building equity.For brand management generally, probably the most positive outcome of recent merger and buyout activity is that corporate managers now increasingly recognize brands as critical assets. Brand management is a formal component of corporate strategy. Sara Lee, for example, has made building brand equity a major corporate goal. The company has mastered the art of applying its brand management skills in markets that traditionally have been fragmented or dominated by private labels. It buys leading brands and gradually builds brand strengths ultimately to own the product market-for example, the company has nurtured high profile brands like Playtex and Hanes in the packaged apparel market. This emphasis on building and then leveraging brand equity for greater profitability has enabled Sara Lee to utilize its core competence (brand management) in markets far removed from its origins in packaged foods. Tylenol has been able to leverage endorsements from medical professionals to develop an image of safety and gentleness on the stomach. It owns over 70% of the acetaminophen market, despite other chemically identical products selling for considerably less.Aaker and Jacobson (1994), from their study of the effect of perceived quality (a concept related to brand equity) on stock price movement, argue that brand managers should convey to Wall Street analysts information about the brands quality image as well as financial information, to better depict long-term prospects for their brands. Their expectation is that financial analysts would rely less on short-term measures of business performance and brand managers will be freer to undertake strategies necessary for ensuring the long-term viability of their firms. Ancillary evidence comes from the J.D. Power & Associates satisfaction surveys, which continue to have a powerful impact on the products and brands evaluated. When Dell Computer was rated first in buyer satisfaction, both its sales and stock price went up. Managers at Warner Lambert were able to justify an expensive long-term campaign to target its antiallergen drug, Benadryl, to end users (patients rather than physicians), and the result was a fivefold increase in sales over four years.Changing Consumer Markets .It is at the product-market level that broad environmental forces are transformed into specific competitive threats and opportunities that require new and creative brand management responses. Both customers and competitors learn and adapt. Once PC buyers learned that IBM-compatible clones were reliable and used the same components as name brands, they refused to pay hefty price premiums for IBM or Compaq. The introduction of Microsoft Windows improved the user-friendliness of PCs and drove Apple and IBM-compatible computers closer together and made each more vulnerable to price competition from the other. Corporate downsizing and corresponding reduction in in-house purchasing expertise may imply increased importance for intangible product components such as the service and relationship dimensions. This shift may cause an increase in the importance of corporate brands and bring reward to reputations that are compatible. The brand manager must become ever more sensitive to these possibilities.The usefulness of brands. The value of a brand name is associated closely with its awareness, quality perception, and the customer satisfaction engendered by related products and offerings, among others (Aaker 1991). Brands are symbols that consumers have learned to trust over time, and they often signal intangible product qualities (Erdem 1993). This signal is often based on experience attributes such as perceived reliability, quality, and safety (Nelson 1970) that products and related marketing programs afford. Such intangibles often lead to more defensible advantages for the firm relative to search attributes (physical features and prices that are readily comparable across brands via inspection or information search) because consumer learning time and experience opportunities are limited. Search attributes, moreover, often can be copied readily by competitors, and it is only when they have not been (because of insufficient time, patent protection, proprietary production and distribution processes, or creative promotion), that they also contribute to brand equity. Broniarczyk and Alba (1994) provide empirical support for this signaling interpretation of brand equity.Customer satisfaction and relationships with a brand provide it protection from competition-for example, Tylenol was able to hold off initiatives by Datril and Panadol, in spite of multimillion dollar marketing campaigns. And sometimes satisfaction offers protection from the companys own mistakes; for example, consumer involvement with the Coca-Cola brand kept the product alive when the company introduced New Coke. Relationships put any single action in perspective, its importance evaluated against the background of previous experiences with the brand. Consequently, managers have found that satisfied customers often have many desirable characteristics-they buy more, are willing to pay more, incur lower sales and service costs, and provide referrals. This has spurred brand managers to focus on customer satisfaction as a measure of operational success.Measuring market change. Because it is inherently individual and multidimensional, brand equity can be difficult to measure, and even an appropriate measure can depend on user purpose. A variety of measures have been proposed in the literature or offered as the proprietary products of market research and advertising firms (Srivastava and Shocker 1991; Winters 1991). Each has strengths and weaknesses and must be evaluated in light of brand managements purposes. Yet measurement and tracking over time and possibly international boundaries is essential if brand managers are to manage and control brand equity effectively. Changes in measures provide feedback on the effectiveness of past actions taken or signal a need for possible future concerns. The multiattributed approach proposed by Park and Srinivasan (1994) uses a self-explicated version of conjoint analysis to provide a quantitative measure, expressed in terms of relative market share or price premium. It is one of the few individual-level (in contrast to aggregate) approaches proposed. By measuring at the individual level, the Park and Srinivasan approach provides insight to brand equity for each relevant market segment. The brand manager gains understanding of the relative contribution of product attribute perceptions and nonattribute imagery to the brand equity for different segments and enables valuation of a brands extension to different product lines and other markets.The rapid increase in market information for managing brands, particularly front scanner technology at the retail level, has had a major effect on how brand management decisions are made. Such research data are more objective and can be collected and processed in a timely fashion. Often historical data for a product category are immediately available to the manager when the need for them arises. Increasingly, more and better decision aids have been created to analyze such data. Russell and Kamakura (1994) propose ways in which the differential strengths of data collected at the household (micro) and store (macro) levels might be combined to offer the brand manager more detailed information about brand preferences and socioeconomic characteristics of buyers (and segments), along with information regarding the sensitivity of the market to price promotions, the impact of a brands strategy on competitors, and the vulnerability of the brand to competitive actions. The work of Chintagunta (1994) illustrates the growing sophistication of methods available for leveraging the use of scanner data. He proposes and tests an easier-to-implement method that obtains brand positions on a product market map and the distribution of preferences across households while accounting for effects of marketing variables on brand choice.At the same time, many firms have reduced the size of their internal advertising/marketing communications and marketing research staffs in response to the demands for increased efficiencies and reduced overhead. Marketing research also increasingly has been outsourced to suppliers, with the staff functions within the firm being downsized. As the need for integrated communications increases and internal staff support for this function is reduced, the role of the brand manager in the critical areas of planning and execution of marketing communications for the brand has broadened. Larger advertising agencies and marketing research suppliers have improved their ability to supply a strategic focus. Yet such changes imply that greater responsibility for strategic direction and initiating needed research will be thrust on the brand manager. More creative use of existing data, such as that suggested by the Russell and Kamakura and Chintagunta proposals, will help, but more innovative studies requiring primary data collection will possibly suffer.CONCLUSIONS Needless to say, brand managers appear increasingly challenged. The world of the brand manager is complex and becoming more so. Technology is at once a curse and an opportunity-while creating new capabilities for the brand manager, it also provides a need for new skills and different vision. The forces brand managers face are not temporary. If anything, they increase the need for the type of coordinated management brand management traditionally has as its strength. Brands continue to have value in a competitive marketplace and undoubtedly will continue to exist. Although specific organizational forms may change, brand management itself will adapt and thrive as managers accept new challenges by improving their competitive ability (Low and Fullerton 1994).出处:By Allan D. Shocker, Rajendra K. Srivastava and Robert W. Ruekert Allan D. Shocker is the Curtis L. Carlson Professor of Marketing, University of Minnesota. Rajendra K. Srivastava is the Sam Barshop Professor of Marketing, Chair of the Marketing Department, and Charles LeMaistre Fellow at the C2 Institute of the University of Texas at Austin. Robert W. Ruekert is an Associate Professor of Marketing, University of Minnesota. They served as coeditors for this special issue on Brand Management.标题:企业网络营销策略的面对机遇和挑战品牌管理的特殊的问题译文:投资者期望和品牌形象,品牌经理可以服从反复无常的投资者,给致力于季度收入报表。前所未有的水平的购并消息在华尔街在80年代后期,常涉及杠杆收购、已装载买公司及其管理的沉重的债务。在夹缝压力和借贷机构投资者,品牌经理感到压力有三点:(1)产生短期的现金流来满足债务范围;(2)可以产生稳定的、可预测的收入增长;(3)说明他们如何和为什么希望投资的营销策略,增加对公司的价值。他们知道,在可预知的方法去增强短期资金流动。首先,品牌价格就上涨速度高于通货膨胀在许多产品种类中,增加的危险对经济增长的民族品牌私人标签类似的质量。这导致了“万宝路星期五”(4月2日,1993),当菲利普莫里普斯极大地降低了价格远离竞争香烟和开创了一个先例。另外,值得注意的是,品牌经理增加了依赖贸易与消费的折扣,同时减少开支的钱做广告。因为慢衰减在短期内,削减广告倒直接到底线。广告营销预算的份额已经改变,从向下的60%到低于三分之一。一些商人认为广告建立长期的利润通过图像分化,而提升品牌价值稀释以价格和折扣,而不是产品独特的特点和优点。其他研究人员则质疑的广告的长期价值总是很困难的精确测量,专注在可见的促销活动能力影响的销售。)提供依据,长远利益销售广告和促销活动创造产品差异化,可能解决争议。追求稳定,可预测利润的增长已经导致似乎风险规避程度部分产品经理。节省成本能够更有效地介绍“新产品”称号,利用现有的著名品牌。结果,有时会被不断改进的一个焦点,而不是真正的新产品能够遛有的产品或开辟新的市场。依赖品牌单独或较轻的产品的改进区别不提供简单延伸与竞争的结果凌乱不堪。虽然它可能阻止了进展替代方案的几类,在某些情况下它导致了增加混乱和抵抗。买方交易,压过的货架空间,采取了一系列特殊费用阻止增生。不利的影响,它以前明确的品牌意义和身份通用磨坊,例如,看似忽视的知名品牌,多少麦片当介绍了联想。原来这是一种风味治疗而不是识别与不了多少麦片的长期用燕麦营养协会。另一个产品,亲爱的金威帝,带来了协会,添加糖成熟品牌称为“早餐冠军。”虽然这些产品保持在市场上,他们有潜在的股权稀释原商标。以前的研究处理品牌延伸已经确定了声音基地为成功和创立品牌影响和原始的相似性的产品种类和外延也是一个重要因素和凯勒。本文专门讨论这个问题几篇文章中提供额外的洞察力来帮助品牌经理。和阿尔巴把注意力集中在担任“brand-specific协会”截然不同的产词性。他们的研究结果表明,这些联系可能主导品牌影响和范畴相似。扩展种类不同品牌价值者优先协会要比相似种类的那就做不成了。他们的研究也提供了理论可以延长为什么品牌的产品种类不同的成功。戴尔和史密斯讨论两个实验和消费者支出的影响,调查显示,三个品牌组合的正面评价参数对消费者所示和信心的判断对未来扩展。他们的研究表明,品牌延伸的成功是受的产品组合与此品牌联系密切,扩大成许多不同的产品是非常有益的,只要品牌的变动情况仍然是低质量在投资组合。同时,品牌经理经常可以实现线,小的变体扩展单一产品被在市场上销售在相同的品牌。研究报告,跟(1994)安装一个广泛的代表性和时间序列数据库中备案从各种各样的来源,利用计量分析、作了实证研究成功的决定因素扩展名的线香烟业。该研究报告的作者们指出他们的实证性的一致性的发现与以前命题,以试验为基础,在概念主要争论或理由。他们还提供进一步支持的结论,当和史密斯管理好,延伸帮助建立公平。为品牌管理一般来说,也可能是最积极的结果最近的合并和收购活动是,企业管理者越来越认识到品牌的重要资产。品牌管理是一种正式公司战略组成部分。莎拉李,举个例子,已经使打造品牌效益主要企业的目标。公司掌握了艺术运用其品牌管理能力在市场传统上占主导地位的支离破碎或私人标签。进口著名品牌,逐步建立品牌优势最终“拥有”产品市场。例如,公司培养高水平的管理者,在包装服装市场。这种强调建筑,然后作为对品牌资产较高的利润使得莎拉李充分利用其核心竞争力(品牌管理市场远离它的起源在包装食品。泰诺已经能够利用的认可医疗专业人才的培养对形象的安全和温柔在胃里了。”拥有超过70%的对乙酰氨基酚市场,尽管其他化学相同的产品卖得较少。埃克尔和雅各布森(1994),从他们的研究对该商品的质量认知的影响(理念涉及品牌权益),认为股票价格的运动品牌经理应该让
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