CEO Sociability: path towards Brand Equity and Brand Relationship Pedro Miguel Lopes Rondão Dissertation submitted as partial requirement for the conferral of Master in Marketing Supervisor: Prof. Daniela Langaro da Silva do Souto, ISCTE Business School, Departamento de Marketing, Operações e Gestão Geral October 2019 CEO Sociability: Path towards Brand Equity and Brand Relationship Pedro Miguel Lopes Rondão Lopes Pedro Miguel RELATIONSHIP AND BRAND EQUITY BRAND TOWARDS PATH SOCIABILITY: CEO CEO Sociability: Path towards Brand Equity and Brand Relationship Acknowledgements Although being an individual work, teamwork prevails in the motivation that is necessary to make a document of this kind. This chapter serves to thank all those who helped on this long journey that this Master’s thesis became. First of all, I would like to pay my gratitude to my thesis supervisor – Daniela Langaro – that always showed great flexibility and support, answering all doubts that arose throughout this research endeavour. Beyond her well credited know-how around marketing and communications, she gave valuable inputs that helped me tackle such an embryonic topic, seen as initially demanding and challenging due to the limited number of research materials that had been treated in the past, while being capable of covering some key dimensions used for this research. Having done this thesis while working, I would like to say a word to Vodafone and Samsung, and the teams I worked and work with. In addition to showing great understanding for me and the tricky situation I was under with both academic and professional concerns to cover and milestones to be completed, they were always available to give me all the necessary help in successfully completing this ‘life chapter’. Above all, I would like to highlight that Vodafone Portugal CEO, Mário Vaz, had in this research. Having become a true mentor, he gave me all the ambition to embark on this topic, serving as a local role model that surely made me believe it was now relevant to highlight the importance of the leader’s Sociability these days, being a valuable subject to be worked on from and academic perspective. Without ever dismissing its importance, I would like to thank my family for investing their resources so that I could complete this Master’s. As well as being my first line of support, they are the first to make sure I did not lose motivation, helping me going through all the ups and downs that came along this long journey, making me sure to believe myself. To my friends, and ‘thesis buddies’, for sharing the same pain as me and being and important discussion thread for resolving possible questions and concerns that were being presented along the way. But also to those who, every day, guaranteed the good mood and enthusiasm, even with the hours of sleep that this thesis removed me, and the massive number of hours that I had to spend in multiple universities and study spots that were opened during the night and dawn. To all of them, and for those who I cannot now remember but have a close link to my heart, a massive thank you. Looking back, it was a tough year and an ambitious experience. However, it was surely worth it and enriched me as a person and professional. i CEO Sociability: Path towards Brand Equity and Brand Relationship Abstract The current business context is highlighted by the need for information. Moreover, stakeholder’s considerate that it is imperative to establish transparency and mutual understanding. A constant request that transparency and Approachability should come from the brand's internal environment, justifying its true essence while humanizing its value to the community. Here, certain brands have introduced the continuous intervention of their CEOs, acting as a brand ambassador and the embodiment of its characteristics. Leaders who now act on relationship building, benefit Brand Equity and stakeholders' brand perception over its intangible value. However, this evidence contrasts with the academic development around this topic, assuming an embryonic stage and for which this research seeks to build understanding. This dissertation seeks to highlight the links between concepts and explore the influence of CEO Sociability on Brand Equity. Additionally, examine the influence of Sociability on the relational aspect between brand and consumer, as this outgoing leadership posture may engender those outcomes. Theoretical and empirical support is adopted to facilitate the comprehension around this topic. The exploratory aspect is reviewed in the use of qualitative and quantitative methods (8 interviews and 356 questionnaire respondents). Results showed that Sociability, captured by means of Credibility and Approachability, assumes to significantly influence Brand Equity and Consumer- Brand Relationship. Moreover, the latter also significantly influences Brand Equity. For Executives, their role in brand's value stems from their willingness to introduce this sociable leadership, as it benefits consumer's brand perception, where word-of-mouth builds brand positioning and sustainability. Keywords: Sociability, Brand Equity, Chief Executive Officers, Marketing; Brand Relationship; Credibility; Approachability. JEL Classification System: M16 – International Business Administration M31 – Marketing ii CEO Sociability: Path towards Brand Equity and Brand Relationship Resumo O contexto empresarial destaca-se pela necessidade de informação, onde os stakeholders consideram imperativo garantir a transparência e mútuo entendimento. Surge o pedido contante de a transparência e aproximação partir do contexto interno da marca, justificando a sua essência e humanizando o seu valor na comunidade. Certas marcas têm introduzido a intervenção contínua do seu Diretor Executivo, funcionando como embaixador da marca e personificador das características desta, partindo de uma comunicação ativa e elevada sociabilidade, que age na construção de relação e acréscimo no valor intangível e percebido por stakeholders, atribuindo o destaque a consumidores. A evidência destes casos contrasta com o desenvolvimento académico neste tema, assumindo uma estatura ainda embrionária e para a qual esta investigação procura construir entendimento. Esta dissertação procura salientar as ligações entre conceitos, explorando a influência da Sociabilidade do CEO em Brand Equity e na relação entre marca e consumidor, visto que esta postura humana e extrovertida poderá implicar esses resultados. Suporte teórico e empírico é adotado, desenvolvendo entendimento do tema e do caráter exploratório garantido pelos métodos quantitativos e qualitativos usados (8 entrevistas e 356 questionários preenchidos). Os resultados mostram que a Sociabilidade do CEO, expressada através de Proximidade e Credibilidade, influencia significativamente Brand Equity e a Relação entre marca e consumidor. Além disso, o aspeto relacional influencia significativamente Brand Equity. Para Executivos, o seu papel no valor da marca parte da vontade de o CEO introduzir este cenário sociável, visto que beneficia a perceção do consumidor, onde o word-of-mouth sedimenta o posicionamento da marca. Palavras chave: Sociabilidade, Brand Equity, Diretores Executivos, Marketing; Relação de Marca; Credibilidade; Proximidade. Classificação Sistema JEL: M16 – International Business Administration M31 – Marketing iii CEO Sociability: Path towards Brand Equity and Brand Relationship Index Acknowledgements ................................................................................................................... i Abstract ..................................................................................................................................... ii Resumo .................................................................................................................................... iii 1. Introduction ......................................................................................................................... 1 1.1. Theme Relevance......................................................................................................... 1 1.2. Research Problem ........................................................................................................ 4 1.3. Academic & Managerial Objectives ............................................................................ 8 1.4. Structure ....................................................................................................................... 9 2. Literature Review ............................................................................................................. 10 2.1. Introduction of the CEO Brand.................................................................................. 10 2.2. CEO Sociability and Brand Value Construction ....................................................... 21 2.3. Conceptual Framework .............................................................................................. 38 3. Methodology ..................................................................................................................... 41 3.1. Research Approach .................................................................................................... 41 3.2. Methods for data collection ....................................................................................... 41 4. Results ............................................................................................................................... 52 4.1. Qualitative Analysis..................................................................................................