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Consumer Perceived Value Analysis of New & Incumbent Brands Of www.sbm.itb.ac.id/ajtm The Asian Journal of Technology Management Vol. 3 No. 1 (2010) 18-33 Consumer Perceived Value Analysis of New & Incumbent Brands of Gudang Garam & Sampoerna Reza A. Nasution*1, Ifad Ardin1 1School of Business and Management, Institut Teknologi Bandung, Indonesia ABSTRACT Gudang Garam and Sampoerna are the biggest cigarette companies in Indonesia. Both of them haveboth incumbent and new brands. Gudang Garam has Surya 16 as its incumbent brand and just released Surya Slim as its new brand, while Sampoerna has A Mild as its incumbent brand and introduced Avolution as its new brand. The companies pursued different approaches in introducing the new brands.Print ads are the main source of information about their strategy. It conveys messages about value to be offfered to the market. Analysis of visual and text or copy elements of the ads are analyzed and mapped into the Consumer Perceived Value (CPV) framework from Sweeney & Soutar. The framework is divided into four dimensions: emotional, social, quality and value for money. Qualitative analysis shows how the two companies introduced their new brands and its relation to the incumbent brands. Keywords:brand, innovation, consumer perceived value, advertising, cigarette industry 1. Introduction market leader should understand for three principles. Operational excellence means Competition always happens in every efficiently, consistently and cost effectively industry, including cigarette industry. Cigarette providing a limited range of standard or routine industry is interesting. Brand in this industry is services. Customer intimacy means developing numerous for incumbent yet new brand. The and maintaining intimate relationships with brands grow constantly every year. It is selected groups of current or new customers. undoubted that cigarette business generate big Product leadership means continuously amount of money. Competition issue strikes developing and launching new programs and everything business, both of existing brand services not readily available elsewhere. They (incumbent) and new brand (penetrating). The build their operating models and align their challenge is how to sustain in the market for organization’s support and decision making incumbent brand and how to penetrate the market structures and employees to deliver on their for new brand. For incumbent brand, there is a distinctive promise. An incumbent brand should marketing theory called “market leader keep these principles up so they can sustain in the discipline”, by Tracy and Wiersema, define that a market. Innovation in every line is necessary to keep customer coming back. *Correspondence author. Email: [email protected] 18 R.A. Nasution et al. / The Asian Journal of Technology Management Vol. 3 No. 1 (2010) 18-33 According to Kotler, general strategy for new strategy each company regarding incumbent brand is targeting niche market, and offering brand and new brand in term of CPV. Do something different. Targeting niche market incumbent brand sustain in the market by rather than the general one is for avoiding direct introducing innovation? Do new brand succeed competitor from market leader. By aiming more penetrating market by introducing innovation? niche market, new brand has opportunity to grab cigarette market share. In the future, they expand Research questions for this project are given market to more general market.In order to below: maintain its position as market leader, incumbent a) Does CPV method show innovation brand need to do innovation, while new brand has indication from incumbent brand in cigarette to be different to be succeed in penetrating. industry? b) Does CPV method show innovation It is interesting because both of innovation indication from new brand in cigarette and be different are similar when it is applied to industry? market. Incumbent brand should offer something c) Does CPV method show innovation new to market before it is declining while new indication from Gudang Garam which brand should obviously offer something new to represented by Surya 16 and Surya Slim? get attention of target market. Offering something d) Does CPV method show innovation similar to what has been in the market will make indication from Sampoerna which represented insignificant profit for new play. The theory about by Sampoerna A Mild and Sampoerna unique selling proposition explains about this Avolution? issue. 2. Theoretical Foundation Reeves (1961) explain that every business/product/service has to make it unique 2.1. Unique Selling Proposition selling proposition. It because they have to be different, makes their self remarkable by target A business indeed needs a unique selling market. Therefore target market can easily recall proposition in order to be different and stand out about a cigarette brand when they need it. In from the crowd. Reeves (1961, p. 44-46) had short, unique selling proposition is about what mentioned “Each advertisement must make a makes your cigarette brand is different. proposition to the consumer. Not just words, not just product puffery, not just show window Unique selling proposition can be measured advertising. Each advertisement must say to each by some methods. One of the methods is reader: "Buy this product, and you will get this consumer perceived value. Consumer perceived specific benefit." The proposition must be one that value (CPV) is categorized proposition which the competition either cannot, or does not, offer. It offered by company through dimensions. CPV is must be unique—either a uniqueness of the brand determined from advertising of each company or a claim not otherwise made in that particular which represent incumbent and new brand in field of advertising. industry. The proposition must be so strong that it can Furthermore, knowing where is the position move the mass millions, i.e., pull over new of the company and competitor will let company customers to your product.”Further, unique know what step that necessary to be better in selling proposition will be elaborated in consumer competition. Incumbent brands and new brands in perceived value. Consumer perceived value is this research are taken from two different needed because it is necessary to see what companies. Each company has one incumbent consumer perception a product (or service). brand in the market and one new brand in the Consumer perceived value is appropriate model to market. Later, besides knowing innovation of percept offering value from a brand. each category, this research only reveal about 19 R.A. Nasution et al. / The Asian Journal of Technology Management Vol. 3 No. 1 (2010) 18-33 2.2. Consumer Perceived Value costumer. Zeithaml found that some consumer obtained value from all relevant ‘get’ and ‘give’ Customer perceived value has been defined components, leading to definition of perceived by Sweeney and Soutar in 2001. They mentioned value. customer perceived value as a strategy imperative for producers and retailers in the 1990s, and it will Another definition of perceived value is by be of continuing importance into the twenty-first “the ratio or tradeoff between quality and price” century (Vantrappen, 1992; Woodruff, 1997; which is a value for money conceptualization Forester, 1999). Zeithaml (1998, p 14) has [(Chain Store Age (1985); Cravens Holland, suggested that perceived value can be regarded as Lamb & Moncrieff (1988); and Monroe (1990)]. a “consumer’s overall assessment of the utility of “Providing superior value to the buyer in term of a product (or service) based on perception of what product quality, special feature, or after-sale it received and what is given.” It means that service” (Porter, 1990. p 37). Those definitions perceived value is comparison of product’s (or show that existing value constructs are too narrow service) ‘get’ and ‘given’ components. Zeithaml and that dimensions other than price and quality also argued that some consumers perceive value would increase the construct’s usefulness when there is a low price; others perceive value (Sweeney & Soutar, 2001). Sweeney and Soutar when there is a balance between quality and price. (2001) had divided consumer perceived value into This component of perceived value will be 4 categories as in Table 1. weighted differently as component by different Table 1. Consumer perceived value description Dimension Description Emotional Value The utility derived from the feelings or affective states that a product generates Functional The utility derived from the perceived Value(Performance/Quality) quality and expected performance of the product Functional Value (Price/Value for The utility derived from the product due to Money) the reduction of its perceived short term and longer term costs Social Value(Enhancement of The utility derived from the product’s Social ability to enhance social self-concept Self-Concept) example, if a product has an ad contain ‘has This is summary of final results from consistent quality’ approach, the product is about exploratory factor analysis done by Sweeney and to position itself with ‘quality’ dimension of Soutar in 2001. There are 19 items that has scored consumer perceived value. It can be conclude to based on tendency to drive customer to what categorize these items into four dimensions. Item consumer perceived value dimension. Use the number one to six categorized as quality table as basis, it can be defined that if a product dimension. Item number seven to eleven use one of an item above, the product has categorized as emotional. Item number twelve to intention
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