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Research Article
Open Access Peer-reviewed

The Value of Consumer Goods Brands in Industrial Markets

Marwa Elgebali
Journal of Business and Management Sciences. 2017, 5(2), 57-61. DOI: 10.12691/jbms-5-2-4
Published online: July 11, 2017

Abstract

Little facts are known about the value of consumer goods brands in the industrial market. Theories have tried explaining the value associated with the of consumer brand equity. The research paper is aimed at exploring whether the consumer goods brands have more equity that the exclusively professional brands. The experiment is tested among 211 sample respondents in the industrial market in Egypt. The study will evaluate the diverse consumers’ opinion on the topic of research. The report also provides the methodology of the data collection and the analysis. An evaluation will be given to show the reliability of the method chosen for data collection. A brief literature review will be associated with the research to give the guideline and boundaries of the research. The results for the synthesized data will be carefully stated into detailed perspective. This will allow readers to comprehend effectively the content of the research. Lastly, a conclusion will be given on the same to show the overall stand of the research findings and how they are of importance to learners.

1. Introduction

Industrial marketing is the movement and coordination of goods and services from one brand to another. The market is referred to as a business to business market. The marketing in most cases passes the border of the industry to the consumer markets. For instance, a detergent component seller may distribute the products through the industrial channels but also support the consumer sales. The businesses and consumers basically prefer products like the washing detergents. The service provider and manufacturers frequently maintain the separate consumer and industrial marketing services so as to reflect on the different expectation of the two channels.

Consumer brands are those companies that deal mainly for the purpose of producing commodities that are ready to be used. The goods involve any tangible product manufactured and subsequently purchased to satisfy immediate needs and wants. They are bought according to the perceived needs of the consumers. In some cases, the consumer goods embrace the services depending on the type of satisfaction expected. Detergents are used best in this research since the industry provides a wide chain of constant sales in the global markets. The consumption of the detergents is also centered on the notion created from the perception. A branding company influence the consumer through advertisement and public shows. The original concept shaped by consumers at the first time of contact effects the buying. For instance, a consumer will develop the interest of buying a detergent after realizing the way it works. One may also consider the side effects and purpose of the detergent in the market.

Another point of comparison may be on the substitutes and prices from different brands. All these can create the perception that influences the buying of a commodity 16. Through perception, the consumer goods brands in the industry have significantly secured a greater market. Knowing the consumer’s taste, a brand can be referred to as the companies that deal with the manufacture of average consumption goods. The commodities are always in the final state when the company is delivering to the main target. Companies’ production targets the market that already exists. The consumers are then expected to see the goods in shelves and stores to make those buying decision.

On the other hand, professional brands are normally service delivery brands, which are based on areas of specialization according to the field of study. Professionalism can be grounded in law, science or even beauty 3. The proficient brands are marketed based on skills and knowledge that people have for them. Also, the experience and reliability is an important issue when it comes to competence. It can be understood only through the show of skill by the expertise in a given field of specialization. The service provided are always directly to the consumers at the time of need.

The value of the two brands in the industry creates a huge pool of dilemma. Even though the brands may vary in the level of service delivery and the context of marketing, the final target is the consumer. Thus, the research focuses on the value of consumer goods brands comparing to the professional ones 22. The most appropriate scope of the research is the detergent industry. The choice is explained by frequent sales and wide pool of consumers in the market. Almost 99% of the world greatest population rely on detergent in their daily sustenance. The following study will explore the value of brand equity between the CGBs and the EPBs in the industry.

1.1. Problem

The main issue of the research relates to the branding in the business to business markets. The background of the problem comes from the competitive tendering involved in the industrial markets. Different brands will tender according to the level and type of services they offer. Therefore, the current situation in the market creates the gap in the performance among different brands. They are to be compared between the detergent firms that represent the general consumer goods brands and the professional brands. How they win tender, the competitive advantage and the value of equity among the firms. The value of equity is the cash and cash equivalent benefits available to shareholder or owners. Therefore, comparing the two firms by considering the cost will create a wide understanding of their difference in operations. Additionally, the level of performance and sustainability in the market can be determined by the outcomes of this problem. The problem is noteworthy since it helps to obtain the deep understanding of the market. Also, distinguishing diverse categories of investments will be easy both for researchers and readers.

1.2. Objective

The study aims at understanding different brands in the market. As it was noted above, the main concern is the level of brand equity of consumer and professional goods brands. By the end of this study, all researchers will be aware of the current diverse among the specific firms in the markets with their levels of branding equity. Also, the exploration of firms’ competitive strategies will be considered so as to come up with a general conclusion. Additionally, a brief examination on market standards and the inter-coordination will be studied.

1.3. Research Questions

• What is the consumers' perception of their respective brands?

• What is the main market variation between the consumer goods brands and the professional brands?

• What is the relationship between the two brands?

• How is equity valued in both the two firms in the industry?

• How does consumer demand carry in various detergent in the market?

• How severally do professional brands sell in the industry?

• What is the basis of awarding the tender to the firms in the market and how does each firm apply for its tenders in the industry?

• How is the value of equity calculated in both the consumer goods brands and the professional brands?

• What are the main considerations when determining the equity of different firms?

• How is the economy of Egypt affect the market valuation compared to other countries?

• How does each market respond to each condition in the economy to maintain their levels and value of equity?

2. Methodology

The research was based on the Qualitative surveys method. The choice was settled at to emphasize on the objectives and various ideologies of specific brands in the industry. Investigative data was gathered on different investors and social economist so as to get the diverse opinion and views on the topic of discussion. The data was collected from a group of 211 categories of investors, customers, and market analysts. The general and detailed result was then formulated based on the opinions assembled. Qualitative research was chosen with the aim of determining the quality of relationship in term of the value of equity brands among the consumer good and professional brands. The rate of equity is the dependent variable. The operations of the firms in the market are the independent variable since the value of equity is triggered by the operation of the firms.

An experimental test design was adopted so as the researchers could be able to bring the past and present comparisons during the study. The experiment would also create a wide range of data and the levels of the development in the value of equity in each period. The research aims at achieving the variation of equity between the forms, and therefore the findings must be in qualitative facts for a perfect comparison.

According to the limited time span that was provided for the research, a cross-sectional design was adopted. The scheme was chosen in order to collect date in a single period from a wide area of research. During the interview, the face to face dialog will be adopted so as to provide an opportunity of addressing each concern as a whole. Also, it limits the information gathered. For instance, a group of investors will be asked on the perception of the value of equity in the industry. At the same time, a group of the market analysts will be asked on determinants of what was brought the comparisons. Then, a clear relationship will be undertaken from the different opinions so that to generalize a synthesized report. During the research, the following were considered.

Creating Incentives

Research is expected to give quality results by an introduction of the incentives in the survey. The reasons involve some form of rewards as a result of the respondents' submission to the study. A big number of the interviewees were unwilling to respond the questions or appear during the research 17. Since the moment the researchers have introduced the reward, a large turnout during the whole process of investigation was noted. The most preferred method of incitement was the introduction of the ruffle games and promotional products to the potential respondents. Credit cards were given to various companies and market analysts. This was the best gift due to various transactions involved in the business. They were greatly motivated as credit cards were worth spending time for and preceding some office work.

Face to face Contact

The best way of conducting the survey was the process maintaining the face to face contact. The idea yielded a significant rate of responses and quality data that was gathered. The respondents were contacted through a genuine random walk while asking questions 12. The confidence of the resounded was high, and the interviewers were able to read facial expressions. Also, more confidential information could be gathered that was difficult to disclose in public. The interview was recorded by a video tape recorder.

A Trial Run

During the research, a pilot study was carried out among the staff management and the close friends of the study group. It was done to analyses the study question before conducting the main research 28. It helped in revising the question prior to the research. The question for the research was then simplified and direct to the point. Therefore, the interviewees were not expected to think much about the responses. Also, the questions allowed for thinking outside the box if need be during the study.

3. Approaches Presented in Relevant Literature

According to the economic and business research on the industrial markets and goods, the brands are the backbone and most valuable assets that companies rely on 27. Each company poses its brand that makes its specification and easy distinguishing from its competitors. The United Kingdom’s detergent company, Unilever, talked on the expansion of its business empires across the global markets. Egypt is one of its regional locations 30. The business placed a $7.1 billion to expand their operations. The chief executive of the company gave a significant stand on one point. The company did not intend to buy more companies 18. Instead, it would engage in a three-way deal with upcoming companies to build a sales force, a factory, and, most importantly, a collection of brands.

No management experts or consultant would have in mind the company’s spend more than $7 billion on a soap and a brand. Doubtfully, not only detergent industry invests much in brands of the world industry. Apple and McDonalds are among the world greatest firms that also rely much on the branding 9. The brand of their product is often much worth than the machines and property that the companies own. According to the data from the Egypt market stock exchange, brands account for the 30 percent of the total stock markets when it comes to valuation of the products.

Omo, without the logo in its packaging, is just a detergent. No one can identify it as a product from the Unilever. The purpose and the reason for its use cannot also be easily explained by the marketers. Brands speak about the marketing of the product more than how the company salespersons perform 17. The use of the brand is enough to create a wider perception of the total value of the product. Yet, there are several arguments about the extent of how much the brand worth and why.

Firms that value the brand always come to a starkly different conclusion during their operations. The fact that the brand does not appear at the final asset of the company in the balance sheet, it takes the greater part of the company's equity 5. The value of the brand is determined by the level of sales and goodwill that it fetches to the company. The brand is viewed regarding loyalty. Consumers of the detergent product can easily expire of imperial leather just because of its appearance 19. According to Bruce McColl, the chief market analyst of Mars, noted that consumers are greatly captivated more by the brand than the product. Consumers are always thinking in terms of the brands and not the products from the company.

Brand may vary in identifying products that are distinctive. The brands give an easy time to confer with products that are hard to tell such as the bathing detergents. Professional brands, such as the banks and insurers, are always shaped less by marketing and advertising. These are the usual ways of building a brand 15. According to Simon Glynn of the Lippincott, the professional brands attract the customer’s loyalty through experience. In this case, the consumers get the messages from the professional works through the employees.

Brands are associated with three components: the quality, the brand awareness and the loyalty of the customers.

Loyalty is what excites the advertisers and the marketers. The brands are the "lovemarks," such as the imperial leather and the Omo detergents from the various companies 29. Saatchi and Saatchi marketing company states that the brands have legions of command to the premiums, fans, and, most importantly, the image of the firm 20. Mr. Cooper said that the professional brands deal with emotions of the customers. An example can be the emotional brands that give credit to banking facilities.

The study of marketing flows from the point of branding. The idea states that the brand must differentiate, appeal distinct groups of consumers and foster fidelity 16. The loyalty of consumer normally drives the brand’s profitability and the commitment of the firm. Loyalty and the emotional connection also determine the strength of brands as defined by the index of brand's finance. A big percentage of the companies in the detergent industry links their pay to the indicators of the brand health. A great part of the top executive bonuses is also associated with the financial evaluation of the brand 14. The executives of each branding company tend to maintain its awareness and quality to maintain the bonuses. The CGBs are of great equity, when it comes to sales and profitability, compared to professional brands that do not grant a security of sales.

4. Findings

According to the findings from the research, product branding determines how the customers get associated with the company’s products in the entire Egyptian markets. Branding is in the form of logo, design and the messaging criteria of the company (Huang et al. 114). It is hard to settle an item to mark definition since design triggers an enthusiastic association in buyers. If done well, item marking can be kept up and deliver a strong, very much associated connection for the duration of the life of the item. The test, nonetheless, lies in new media, authorizing and online networking, where the "message" may be imparted by means of the crowd and not the master marking experts.

In Egypt, branding an item was substantially less demanding because there were no sites, advanced mobile phones, intuitive amusements or web-based social networking 7. Today, innovative groups are required to flawlessly mark items over various media, utilizing a similar voice, outline and informing, regularly with various imaginative groups and originators making separate brand augmentations 6. Item Branding Strategies Across Multiple Platforms takes a gander at three top detergents organizations, such as the Unilever company, Ultra Tide, and how their inventive groups cooperated in marking an item with the goal. Its messages were clear, and its plan interconnected with the aid of various stages.

The cooperative nature of the respondents gave a clear and an outstanding comparison among the CGBs and the EFBs 8. The study showed that the CGBs do have a significant brand equity compared to the EFBs in the B2B market. The reason for the difference in the brand equity in the industrial markets are portioned into two provisions. According to the conflicting opinions, the report and facts from the research were based on the general opinions from all respondents.

The first provision is the CGBs companies enjoy the greater top of mind awareness that the EPBs 6. Awareness is created from the perception of the first impression the consumers have on the product. The brands are seen and recognized by the consumers during advertisement and roadshow marketing. The purpose and the usage of the brand are noted as the overall image of the company. A comparison can be created between the imperial leather and the banking institutions. During advertisement, the banks will advertise the service offer based on the experiences they have had with different client.

The services are being advertised as for the whole company and not for a specific brand. On the same context, the Imperial brand will be marketed according to the purpose and necessities of a particular brand. In most cases, the company is not mentioned in the advertisement. The consumers get the knowledge and awareness of the brands and not of the company. An example of the company, such as the Nice Company in China 10. The company deals will enable a lot of staff including the washing detergents and body lotions. Remarkably, consumers know about the lovely products more than they aware of the company. The purchasing is based on the brands and not on the firm. Therefore, with the samples of consumers and marketers responses, it is very comfortable to assume that the brand sells more than the company 21. The consumer company then have a great brand equity in the industrial market due to their brand promotions.

The second provision is that the CGBs have got a distinctive brand image. The brand equity is always viewed as more expensive and efficient than the EFBs. Creating image is the toughest thing the company can accomplish. A good image reflects the market security and valuation in the stock market. According to the responses given by the interviewees, it is evident that the brand image determines the price and cost determination of the product. The more the image valuable the more costly the goods and products become. The image also attracts more investors increasing the performance of more companies. The perception of the brand reflects the possible views of the consumers. For instance, if a customer buys Omo as a detergent that cleans perfectly during washing, the expectation is what is seen from the advertisement.

Consumer’s satisfaction of the expectation from the product as well as the interest will increase the use of the product. The loyalty of the consumers also benefits the company and its image in the industrial market. At the same time, the company pays back its long-earned reputation through increasing the capital levels. The share of the company upturns prices while the brand becomes more expensive comparing to others. This is the concept of quality created by the image.

The brands of high quality are preferred by the clients. Professional brand, on the other side, are always cheap and of the average image. Creating a good image, though, is not an easy task 11. In order to acquire a good image, the best experience from the employee services and expertise should be increased.

5. Research Limitations

During the research, the interviews and the responses had some limitations. The result was believed only to reflect some industrial factors that are specific and not professional to all expert markets. Generalizing the data among all the whole industry would then be based on complete facts. Secondly, the detergent that was the main focus of study had low prices compared to some professional products like the bank bonds. The third limitation was the sample used. The market is assumed to be a mature community that involves modest growth and limited development in the other related markets.

However, the limitations do not discredit the outcome that was finally gathered. Conversely, they could act as a bridge that could lead to further research on the subject of CGBs and their extension to professional markets. Future research may, perhaps, major on the other different product categories so as to validate the general primary results.

6. Discussion and Conclusion

The results of the research on the CGBs has a very significant implication on the business and consumer marketing. The knowledge can be used by the B2C professionals in leveraging the equity of their CGBs in the business to business space 23. Additionally, the study will help the B2B professionals to apply their skills in defending their respective markets shares better in the face of the CGB in the market entry.

In summary, the study represented an explorative analysis as the little knowledge of the literature work about the topic. The knowledge of the literature review was gathered from several secondary sources addressing CGBs as a separate entity to EPBs 1. In addition to the original research from the respondent, the report has given a better explanation to brand equity in the industrial contexts. The importance of the brands are now clear to readers, and the concept of B2B is no longer new in academic fields.

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Normal Style
Marwa Elgebali. The Value of Consumer Goods Brands in Industrial Markets. Journal of Business and Management Sciences. Vol. 5, No. 2, 2017, pp 57-61. http://pubs.sciepub.com/jbms/5/2/4
MLA Style
Elgebali, Marwa. "The Value of Consumer Goods Brands in Industrial Markets." Journal of Business and Management Sciences 5.2 (2017): 57-61.
APA Style
Elgebali, M. (2017). The Value of Consumer Goods Brands in Industrial Markets. Journal of Business and Management Sciences, 5(2), 57-61.
Chicago Style
Elgebali, Marwa. "The Value of Consumer Goods Brands in Industrial Markets." Journal of Business and Management Sciences 5, no. 2 (2017): 57-61.
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[1]  Arnd, Vomberg, Homburg, Christian, and Bornemann, Torsten. “Talented People and Strong Brands: The Contribution of Human Capital and Brand Equity to Firm Value.” Strategic Management Journal, vol. 36, no.13, 2015, pp. 2122-2131.
In article      View Article
 
[2]  Babin, Barry J., and Zikmund, William G. Exploring Marketing Research. Cengage Learning, 2015.
In article      View Article
 
[3]  Bryman, Alan, and Bell, Emma. Business Research Methods. Oxford UP, 2015.
In article      View Article
 
[4]  Buil, Isabel, Martínez, Eva, and Chernatony, Leslie. “The Influence of Brand Equity on Consumer Responses.” Journal of Consumer Marketing, vol. 30, no. 1, 2013, pp. 62-74.
In article      View Article
 
[5]  Chatzipanagiotou, Kalliopi, Veloutsou, Cleopatra, and Christodoulides, George. “Decoding the Complexity of the Consumer-Based Brand Equity Process.” Journal of Business Research, vol. 69, no. 11, 2016, pp. 5479-5486.
In article      View Article
 
[6]  Cifci, Sertaç, et al. “A Cross Validation of Consumer-Based Brand Equity Models: Driving Customer Equity in Retail Brands.” Journal of Business Research, vol. 69, no. 9, 2016, pp. 3740-3747.
In article      View Article
 
[7]  Datta, Hannes, Ailawadi, Kusum L., and van Heerde, Harald J. “How Well Does Consumer-Based Brand Equity Align with Sales-Based Brand Equity and Marketing Mix Response?” Journal of Marketing, vol. 81, no. 3, 2017, pp. 1-20.
In article      View Article
 
[8]  Davcik, Nebojsa S., da Silva, Rui Vinhas, and Hair, Joe F. “Towards a Unified Theory of Brand Equity: Conceptualizations, Taxonomy and Avenues for Future Research.” Journal of Product & Brand Management, vol. 24, no.1, 2015, pp. 3-17.
In article      View Article
 
[9]  Delgado-Ballester, Elena, and Estela Fernandez Sabiote. “Brand Experimental Value versus Brand Functional Value: Which Matters More for the Brand?” European Journal of Marketing vol. 49, no.11, 2015, pp. 1857-1879.
In article      View Article
 
[10]  Deng, Xinming, and Yang Xu. “Consumers’ Responses to Corporate Social Responsibility Initiatives: The Mediating Role of Consumer–Company Identification.” Journal of Business Ethics, vol. 142, no. 3, 2015, pp. 1-12.
In article      View Article
 
[11]  Godey, Bruno, et al. “Social Media Marketing Efforts of Luxury Brands: Influence on Brand Equity and Consumer Behavior.” Journal of Business Research, vol. 69, no.12, 2016, pp. 5833-5841.
In article      View Article
 
[12]  Hair, Joseph F. Essentials of Business Research Methods. ME Sharpe, 2015.
In article      View Article
 
[13]  Hair, Joseph F., et al. “Partial Least Squares Structural Equation Modeling (PLS-SEM). An Emerging Tool in Business Research.” European Business Review, vol. 26, no. 2, 2014, pp. 106-121.
In article      View Article
 
[14]  Hegner, Sabrina M., Beldad, Ardion D., and Kamphuis, Sjarlot. “How Company Responses and Trusting Relationships Protect Brand Equity in Times of Crises.” Journal of Brand Management, vol. 21, no. 5, 2014, pp. 429-445.
In article      View Article
 
[15]  Helestani, Froogh P., and Ebrahimpour, Mostafa. “Surveying the Effect of Brand Equity Dimensions on Customer Response.” World Essays Journal, vol. 3, no.2, 2015, pp. 86-95.
In article      
 
[16]  Keller, Kevin Lane. “Reflections on Customer-Based Brand Equity: Perspectives, Progress, and Priorities.” AMS Review, vol. 6, no. 1, 2016, pp. 1-16.
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