How well does consumer-based brand equity align with sales-based brand equity and marketing mix response?

Brand equity is the differential preference and response to marketing effort that a product obtains because of its brand identification. Brand equity can be measured based on either consumer perceptions or on sales. Consumer-based brand equity (CBBE) measures what consumers think and feel about the brand, whereas sales-based brand equity (SBBE) is the brand intercept in a choice or market share model. This paper studies the extent to which CBBE manifests itself in SBBE and marketing mix response using ten years of IRI scanner and Brand Asset Valuator (BAV) data for 290 brands spanning 25 packaged good categories. It uncovers a fairly strong positive association of SBBE with three dimensions of CBBE – Relevance, Esteem, and Knowledge – but a slight negative correspondence with the fourth dimension, Energized Differentiation. It also reveals new insights on the category characteristics that moderate the CBBE-SBBE relationship, and documents a more nuanced association of the CBBE dimensions with response to the major marketing mix variables than heretofore assumed. Implications are discussed for academic researchers who predict and test the impact of brand equity, for market researchers who measure it, and for marketers who want to translate their brand equity into marketplace success

The direct and interactive effects of store-level promotions on impulse purchase: Moderating impact of category familiarity and normative influences

Marketing literature conceptually and empirically establishes the direct effects of different variables on impulse purchase. However, the simultaneous interactions between variables influencing impulse purchase are yet to be studied. This paper measures the direct effects of store-level promotions, brand equity, and price consciousness and also examines the interactive effects of store-level promotions and the moderating influence of category familiarity and normative influences. The results demonstrate the importance of simultaneous examination of interplay between different consumer and store-level variables. Collectively, the results provide substantial segmentation opportunities for manufacturers of branded goods and retailers. © 2013 John Wiley & Sons, Ltd

Private-Label Use and Store Loyalty

The authors develop an econometric model of the relationship between a household's private-label (PL) share and its behavioral store loyalty. The model includes major drivers of these two behaviors and controls for simultaneity and nonlinearity in the relationship between them. The model is estimated with a unique data set that combines complete purchase records of a panel of Dutch households with demographic and psychographic data. The authors estimate the model for two retail chains in the Netherlands—the leading service chain with a well-differentiated high-share PL and the leading value chain with a lower-share PL. They find that PL share significantly affects all three measures of behavioral loyalty in the study: share of wallet, share of items purchased, and share of shopping trips. In addition, behavioral loyalty has a significant effect on PL share. For the service chain, the authors find that both effects are in the form of an inverted U. For the value chain, the effects are positive and nonlinear, but they do not exhibit nonmonotonicity, because PL share has not yet reached high enough levels. The managerial implications of this research are important. Retailers can reap the benefits of a virtuous cycle; greater PL share increases share of wallet, and greater share of wallet increases PL share. However, this virtuous cycle operates only to a point because heavy PL buyers tend to be loyal to price savings and PLs in general, not to the PL of any particular chain

A consumer-based method for retailer equity measurement: Results of an empirical study

This research extends the consumer-based brand equity measurement approach to the measurement of the equity associated with retailers. This paper also addresses some of the limitations associated with current retailer equity measurement such as a lack of clarity regarding its nature and dimensionality. We conceptualise retailer equity as a four-dimensional construct comprising retailer awareness, retailer associations, perceived retailer quality, and retailer loyalty. The paper reports the result of an empirical study of a convenience sample of 601 shopping mall consumers at an Australian state capital city. Following a confirmatory factor analysis using structural equation modelling to examine the dimensionality of the retailer equity construct, the proposed model is tested for two retailer categories: department stores and speciality stores. Results confirm the hypothesised four-dimensional structure

Minithoracotomy for mitral valve repair improves inpatient and postdischarge economic savings

ObjectiveSmall series of thoracotomy for mitral valve repair have demonstrated clinical benefit. This multi-institutional administrative database analysis compares outcomes of thoracotomy and sternotomy approaches for mitral repair.MethodsThe Premier database was queried from 2007 to 2011 for mitral repair hospitalizations. Premier contains billing, cost, and coding data from more than 600 US hospitals, totaling 25 million discharges. Thoracotomy and sternotomy approaches were identified through expert rules; robotics were excluded. Propensity matching on baseline characteristics was performed. Regression analysis of surgical approach on outcomes and costs was modeled.ResultsExpert rule analysis positively identified thoracotomy in 847 and sternotomy in 566. Propensity matching created 2 groups of 367. Mortalities were similar (thoracotomy 1.1% vs sternotomy 1.9%). Sepsis and other infections were significantly lower with thoracotomy (1.1% vs 4.4%). After adjustment for hospital differences, thoracotomy carried a 17.2% lower hospitalization cost (−$8289) with a 2-day stay reduction. Readmission rates were significantly lower with thoracotomy (26.2% vs 35.7% at 30 days and 31.6% vs 44.1% at 90 days). Thoracotomy was more common in southern and northeastern hospitals (63% vs 37% and 64% vs 36%, respectively), teaching hospitals (64% vs 36%) and larger hospitals (>600 beds, 78% vs 22%).ConclusionsRelative to sternotomy, thoracotomy for mitral repairs provides similar mortality, less morbidity, fewer infections, shorter stay, and significant cost savings during primary admission. The markedly lower readmission rates for thoracotomy will translate into additional institutional cost savings when a penalty on hospitals begins under the Affordable Care Act's Hospital Readmissions Reduction Program

Minimally Invasive Mitral Valve Surgery III: Training and Robotic-Assisted Approaches.

Minimally invasive mitral valve operations are increasingly common in the United States, but robotic-assisted approaches have not been widely adopted for a variety of reasons. This expert opinion reviews the state of the art and defines best practices, training, and techniques for developing a successful robotics program

Minimally Invasive Mitral Valve Surgery I: Patient Selection, Evaluation, and Planning.

Widespread adoption of minimally invasive mitral valve repair and replacement may be fostered by practice consensus and standardization. This expert opinion, first of a 3-part series, outlines current best practices in patient evaluation and selection for minimally invasive mitral valve procedures, and discusses preoperative planning for cannulation and myocardial protection

Private-label use and store loyalty

The authors develop an econometric model of the relationship between a household’s private-label (PL) share and its behavioral store loyalty. The model includes major drivers of these two behaviors and controls for simultaneity and nonlinearity in the relationship between them. The model is estimated with a unique data set that combinescomplete purchase records of a panel of Dutch households with demographic and psychographic data. The authorsestimate the model for two retail chains in the Netherlands the leading service chain with a well-differentiatedhigh-share PL and the leading value chain with a lower-share PL. They find that PL share significantly affects all three measures of behavioral loyalty in the study: share of wallet, share of items purchased, andshare of shopping trips. In addition, behavioral loyalty has a significant effect on PL share. For the service chain, the authors find that both effects are in the form of an inverted U. For the value chain, the effects are positive and nonlinear, but they do not exhibit nonmonotonicity, because PL share has not yet reached high enough levels. The managerial implications of this research are important. Retailers can reap the benefits of a virtuous cycle; greater PL share increases share of wallet, and greater share of wallet increases PL share. However, this virtuous cycle operates only to a point because heavy PL buyers tend to be loyal to price savings and PLs in general, not to the PL of any particular chain.pre-prin