Value Creation of Firm-Established Brand Communities by Philipp Wiegandt, Prof. Dietmar Harhoff Ph.D.

By Philipp Wiegandt, Prof. Dietmar Harhoff Ph.D.

Firm-established model groups let businesses to extend the emblem loyalty and word-of-mouth communique in their shoppers. additionally they symbolize an sufficient organisational shape for firms to combine shoppers into their innovation strategies. Philipp Wiegandt empirically analyzes the consequences the production of a firm-established model neighborhood has at the model loyalty and word-of-mouth verbal exchange of its participants through the years. He unearths that setting up a firm-established model group creates price for either – the corporate and their customers.

Show description

Read Online or Download Value Creation of Firm-Established Brand Communities PDF

Similar marketing books

Influence: The Psychology of Persuasion (Collins Business Essentials)

Effect, the vintage ebook on persuasion, explains the psychology of why humans say "yes"—and how one can follow those understandings. Dr. Robert Cialdini is the seminal specialist within the quickly increasing box of impact and persuasion. His thirty-five years of rigorous, evidence-based study in addition to a three-year application of research on what strikes humans to alter habit has led to this hugely acclaimed booklet.

Web Search Engine Research

Net seek Engine examine, edited via Dirk Lewandowski, presents an figuring out of internet se's from the original viewpoint of Library and data technology. The e-book explores more than a few issues together with retrieval effectiveness, person delight, the assessment of seek interfaces, the impression of seek on society, reliability of seek effects, question log research, person suggestions within the seek strategy, and the effect of website positioning (SEO) on effects caliber.

Der Einfluss von Emotionen auf die Kundenzufriedenheit: Ansätze für ein erfolgreiches Consumer Relationship Marketing mit 18- bis 25-jährigen Bankkunden

Vor dem Hintergrund zunehmenden Wettbewerbsdrucks auf weitgehend gesättigten Märkten mit eingeschränkten Möglichkeiten einer wirtschaftlich akzeptablen Neukundenakquise ist die Kundenbindung zu einem wichtigen Anliegen der Marketingbemühungen von Unternehmen geworden. Eine wesentliche Voraussetzung für die Entstehung von Kundenbindung ist die Zufriedenheit des Kunden mit dem Produkt bzw.

When Luxury Meets Art: Forms of Collaboration between Luxury Brands and the Arts

More and more, luxurious manufacturers sign up for forces with the humanities this present day. but, those cross-over collaborations don't represent a homogeneous procedure, yet turn into occur in manifold types and appearances. despite their transforming into useful relevance for the construction of up to date luxurious manufacturers notwithstanding, the numerous varieties of luxurious Brand-Art Collaborations (LBACs) have remained mostly unexplored so far.

Extra info for Value Creation of Firm-Established Brand Communities

Sample text

A product purchase and consumption is therefore a way to experience self-realisation and self-identification. Together with a brand community, it enables collaborative self-awareness and self-reflection (Muniz & O’Guinn 2001, p. 415). 30 This way, a brand generates an added value on top of the functional benefit of a product. This added value through a common experience is intensified by a brand community. Not only a strong tie between consumer and brand but also the social aspect of consuming a brand plays an important role.

This added value through a common experience is intensified by a brand community. Not only a strong tie between consumer and brand but also the social aspect of consuming a brand plays an important role. 31 For an attempt to explain how this social aspect in form of social interaction is generated, interaction theories are helpful. According to interaction theories, social networks such as brand communities exist because they enable interactions. Interactions refer to the mutual reference of two or more individuals.

This furthermore corresponds with Cova’s postulate (1997, p. 303) that “the link is more important than the thing”, meaning that in some cases the social value of products (the possibility to interact with like-minded individuals) might exceed the functional value of a good. This can also be examined in the framework of the transaction cost theory. 47 He points out three findings: x The acquisition of new customers is five to seven times more costly than the retention of existing customers. x A reduction of customer churning by 5 % can increase the profit of a firm by 30 to 85 % x An increase of customer retention by 2 % leads to a reduction of the operating costs by 10 %.

Download PDF sample

Rated 4.58 of 5 – based on 46 votes