Thesis

16 Literature Survey
3 Literature Survey
The literature survey has as a goal to clarify the theoretical foundations of study relevant
to the research objectives of this thesis. These fields of study are threefold:
branding, product placement and consumer behavior.
Firstly, the literature survey will describe branding as a marketing discipline
and overarching thematic of this thesis. In particular, the concept of brand equity
will be defined as well as the types of marketing effects companies can draw from
brand equity. The following three brand equity effects will be focused on: brand
identity, brand meaning and brand response.
Secondly, the literature survey will describe product placement as an advertising
form which could serve as a stimulus to achieve desired brand equity effects
as described above. In particular, it will describe briefly the evolution of this advertising
form through time, the currently existing types of product placement, the
available media vehicles which can be used for it, some concerns in terms of ethics
and regulations in applying this advertising form and the most important academic
advances in terms of product placement, and in particular, the effects which can be
expected. This section will also describe endorsement processes as a component of
product placement and personality traits as meaning transferred through this process.
Thirdly, the literature survey will link up the two fields of study above by describing
which cognitive, affective and conative processes exist on the level of consumer
behavior to transform these product placement stimuli as input into brand
equity effects as output. This part will cover the theoretical concepts of processes
regulating attention, comprehension and memory, beliefs, attitudes and preferences
as well as intention judgment and behavior.
3.1 Brand equity
3.1.1 The definition of a brand and brand equity
A brand can be defined as a cluster of emotional and functional values that enables
organizations to make a promise about a unique and welcomed experience. (De Chernatony,
2010, p. 31). The following functions of a brand for consumers can be discerned:
the identification of the source of the product, the assignment of responsibility
to the product maker, a risk reducer, a search cost reducer, a promise, bond or
pact with the maker of the product, a symbolic device and a signal of quality (Keller,
Apéria and Georgson, 2008). Such perceived quality is the most essential predicator
of profitability. In addition, perceived quality can have a stronger impact than objectively
measured quality (Jacobson and Aaker, 1987). Brand positioning can be defined
in this context as the act of designing the company's offer and image so that it
occupies a distinct and valued place in the target customer's mind Keller, Apéria and
Georgson, 2008, p. 35). As this position is one of the most crucial factors of the
brand's success, brand positioning is a crucial marketing task (Foxall, Brown and
Goldsmith, 1998).