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Msc in Marketing Einstök's Customer-Based Brand Equity in the Icelandic & Swedish Market

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Msc in Marketing Einstök's Customer-Based Brand Equity in the Icelandic & Swedish Market MSc in Marketing Einstök’s Customer-Based Brand Equity in the Icelandic & Swedish market: A perception-based application of Keller’s CBBE pyramid June, 2017 Name of student: Jannika Yasmine Lövendahl Kennitala: 250990 – 4999 Supervisor: Dimo Dimov FINAL THESIS Declaration of access to the copies of my thesis at RU Library and/or in the repository Skemman Year on title page 2017 Name of author/authors, ID number: Jannika Yasmine Lövendahl, 250990-4999 Thesis title: Einstök’s Customer-Based Brand Equity in the Icelandic & Swedish market: A perception-based application of Keller’s CBBE pyramid Name of supervisor: Dimo Dimov In accordance with RU policy on open access, approved by RU Executive Council 13th of November 2014, all final thesis must be preserved in printed copies at RU Library and/or electronically in the repository Skemman. However, access to a final thesis can be closed by the author, e.g. if the thesis contains confidential information. Open access to final thesis in RU Library is an open access publication according to the Icelandic law on copyright. The author wishes that his/her final thesis be preserved and treated as follows (both in printed form in RU Library and in electronic form in Skemman): PLEASE CHECK ONLY ONE OF THE TWO POSSIBILITIES BELOW: The final thesis is open to everyone to read The final thesis is closed until (month/year) ___December 2018___ IF ACCESS TO THE THESIS IS TO BE CLOSED, THE REASON MUST BE SPECIFIED: Due to a matter of confidence (personal information, business information, information from collaborators, etc.) Business idea (contains information/description of a product/idea/process method, which could be exploited commercially or is possibly eligible for patent protection) The author intends to sell the thesis (possible to close access for 6 months max) The thesis is a journal article which the author intends to publish in a peer-reviewed journal ---------------------------------------------------------------------------------------------------------- 2 Declaration of Research Work Integrity This work has not previously been accepted in substance for any degree and is not being concurrently submitted in candidature of any degree. This thesis is the result of my own investigations, except where otherwise stated. Other sources are acknowledged by giving explicit references. A bibliography is appended. By signing the present document I confirm and agree that I have read RU’s ethics code of conduct and fully understand the consequences of violating these rules in regards of my thesis. .................................................................................................................................. Date and place Kennitala Signature 3 Abstract This is a perception-based application of Kevin Lane Keller’s Customer-based brand equity (CBBE) Pyramid in two Nordic markets; Iceland and Sweden. The CBBE of the Icelandic craft beer brand Einstök was investigated through the chosen framework. Interviews with company representatives and focus groups with consumers from the target group the “Modern Viking” gave answers to the research questions; What are the differences in brand equity between Iceland and Sweden?; Is the “Modern Viking” perceiving the brand identity of the brand in the same way as Einstök is trying to communicate it?; What are the most mentioned brand features/associations of the brand Einstök in Iceland compared to Sweden? And What are the consumers’ experienced brand perception of Einstök in Iceland compared to Sweden? The findings from focus groups were first analysed through thematic analysis. The adjectives used to explain the Einstök brand was categorised into matching themes in form of mind maps. After the mind maps were created, a word cloud for each focus group was created. When the analysis was completed, the following answers could be withdrawn in order to answer the research questions; Due to different level of exposure of the brand in the home market Iceland compared to the Swedish market; consumers show a different level of brand equity. Findings from the interviews with the company representatives show similarities in ways to express the brand identity of Einstök. The most common themes used by Icelandic consumers in order to explain the brand are attractive, authentic, Icelandic, reliable and tasty. Attractive, character, creative, Icelandic and quality are the most common words used by Swedish consumers when explaining the Einstök brand. Keywords: Customer-based Brand Equity, Focus Groups, Qualitative Study, Thematic Analysis, Craft Beer 4 Acknowledgements I am definitely, first of all thanking Iceland for making this happen. If it were not for your amazing nature, culture and people, this thesis would not be about anything Icelandic, at all. Second of all, I am thanking the people around me for supporting me in this mountain climb of a writing process. Thanks to my lovely and encouraging boyfriend, understanding and supporting parents and friends. You are my safety net! Thirdly, I would love to thank the two company representatives Guðjón Guðmundsson and Jack Sichterman for bringing me on board the Viking vessel of Einstök – It has been an amazing journey. Figure 1: Kinnafjöll in Húsavík And of course a huge thanks to Reykjavík University and my supervisor, Professor Dimo Dimov for being an important part in the process of bringing me to the top of the mountain by giving me the right tools to accomplish, what I think, has been a journey all the way to the top. Last but absolutely not least; I would like to thank all focus group participants. Thank you for taking time to answer all the questions and sharing your memories, perspectives, opinions and feelings! Your statements have been crucial in order to make this happen, without you – we would not even have made it to base-camp. Happy reading, Jannika Yasmine Lövendahl 5 Table of contents ABSTRACT .............................................................................................................................. 4 ACKNOWLEDGEMENTS ........................................................................................................... 5 TABLE OF CONTENTS ......................................................................................................... 6 LIST OF TABLES ................................................................................................................. 11 LIST OF FIGURES ............................................................................................................... 12 CHAPTER 1 (INTRODUCTION) ....................................................................................... 13 1.0 INTRODUCTION ................................................................................................................... 13 1.1 OBJECTIVES ........................................................................................................................ 14 1.2 RESEARCH AREA ................................................................................................................ 14 CHAPTER 2 (LITERATURE REVIEW) ........................................................................... 15 2.0 INTRODUCTION ................................................................................................................... 15 2.1 BRAND TERMINOLOGY ....................................................................................................... 15 2.2 BRAND EQUITY & CUSTOMER-BASED BRAND EQUITY .................................................... 16 2.3 CBBE FRAMEWORKS ......................................................................................................... 18 2.3.1 Keller’s Customer-based Brand Equity Pyramid ....................................................... 18 2.3.2 Conclusion of framework ........................................................................................... 21 2.3.3 Aaker’s Customer-Based Brand Equity Framework .................................................. 22 2.3.4 Conclusion of framework ........................................................................................... 24 2.4 CRAFT ................................................................................................................................ 24 2.4.1 Craft beer and craft brewers ...................................................................................... 24 2.4.2 Craft consumers ......................................................................................................... 25 2.4.3 Craft beer markets ...................................................................................................... 27 2.5 EINSTÖK - CONSUMPTION CREATES PREFERENCE ............................................................. 29 2.5.1 Conquering of the world - Markets and overall company information ..................... 29 6 2.5.2 The Einstök World Map - Distribution & distributors ............................................... 31 2.5.3 Deliciously refreshing - The products and packaging ............................................... 32 2.5.4 Einstök (one of a kind) marketing .............................................................................. 35 2.5.5 Drink. Conquer. Repeat. - The Einstök brand ............................................................ 37 2.5.6 The Modern Viking - The Einstök target consumer ................................................... 39 2.6 SUMMARY AND CONCLUSION OF LITERATURE REVIEW ..................................................... 41 2.6.1 Summary
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