مقاله انگلیسی ارزیابی ارزش ویژه برند و استراتژی های رشد خرده فروش
Abstract
Graphical abstract
Keywords
Introduction
Valuation approaches
Brands as options
Valuing the brand equity and growth strategies of Starbucks
Discussion
Limitations and implications for researchers
Acknowledgements
Appendix A. Supplementary data
References
Abstract
In marketing, significant attention has been devoted to the study of drivers and outcomes of strategic flexibility drawing on real options theory. However, research that quantifies the specific value of flexibility reflected in a bundle of strategic real options is lacking. To remedy this gap, we develop a real options-based framework that takes account of brand expansion and extension options to value brand equity and retailer growth strategies. We show how to value the bundle of strategic real options associated with a flexible marketing strategic vision and how to assess the growth strategies related to the corporate brand of an international retailer. We apply our method to estimating the brand equity of Starbucks both under growth and adversity conditions. The results reveal that our method can more reliably incorporate the growth potential of the brand under uncertainty conditions. Comparisons with other brand valuation approaches are discussed. Our study helps clarify the links among management’s strategic plans, brand-based marketing strategies and share price, and allows to better monitor the impact of retailer strategic choices on long-term brand equity value.
Introduction
The internationalization of retail firms is a phenomenon that reflects the strategic global growth ambitions of these firms. Growing globalization pressures, along with attractive foreign market opportunities and technological developments, have induced many retailersto enter overseas markets and leverage their strong international brands (Reinartz et al. 2011). Being an intangible asset that can shape a firm’s competitive advantage, a strong brand underpins the health and loyalty of customer relationships, the attainment of premium prices, and the realization of long-term brand equity value (e.g., Srivastava, Shervani, and Fahey 1998; Srivastava, Fahey, and Christensen 2001). Hence, proper assessment of an international retailer’s activities both as regards the value of producing assets-in-place as well as brand-enabled market growth strategies is key for effective strategic retail management.