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تعداد صفحات این فایل: ۱۴ صفحه

بخشی از مقاله انگلیسیعنوان انگلیسی:A financial approach-based measurement of brand equity in the restaurant industry~~en~~

Abstract

Brand equity plays a significant role in the restaurant industry due to the competitive advantage gained by differentiation. It has been identified as a main component of intangible assets that decides the market value of a firm in the industry. Although the importance of brand equity has been well recognized in the restaurant literature, there has been little investigation regarding how to objectively quantify brand equity, especially by using secondary market data. Further, there is no publicly available brand equity data of restaurant firms thus far. For these reasons, this study aims to develop an approach on how to estimate a restaurant’s brand equity not only by utilizing the secondary market data but also by incorporating the unique characteristics of restaurant firms. By proposing a restaurant-specific model to estimate brand equity, this study contributes to the restaurant literature and to the industry as a whole.

Since the 1980s, brand management has attracted considerable attention in the business industry and has become a core subject in the marketing area (Berthon et al., 2001; Dev et al., 2010). In particular, the brand equity estimation has become animportant topic because the brand equity was often used as a performance indicator of brand management (Keller and Lehman, 2006; Prasad and Dev, 2000). Although the significance of brand management certainly applies to the restaurant industry (CobbWalgren et al., 1995; Kim et al., 2003; Prasad and Dev, 2000), little investigation has been done regarding how to objectively quantify brand equity, especially by using secondary market data.

The US restaurant industry is well worth being viewed independently for the following reasons: First, the economic significance of the market is substantial (2015 Restaurant Industry Forecast, 2015); second, this industry has a low barrier for market entry, making it difficult to accomplish monopoly (Skalpe, 2003). This characteristic tends to accelerate competition among different brands (Beneda, 2009). Consequently, they are encouraged to minimize uncertainty through the competitive advantage acquired by differentiation (Kim et al., 2004; Tavitiyaman et al., 2011), and so brand management has become an essential strategy to achieve such goals for restaurant companies (Hyun and Kim, 2011; Kim et al., 2004).

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