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1.
International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME: http://www.iaeme.com/IJM.asp Journal Impact Factor (2014): 7.2230 (Calculated by GISI) www.jifactor.com 1 IJM © I A E M E INTERNATIONAL BRANDING AND PERFORMANCE IMPLICATIONS IN EMERGING MARKETS Dr. Mauricia Miguel-Herrera Dr. K.K.Ramachandran Business and Academic Consultant, Director, MMH Consulting GRD Institute of Management, Dr.GRD College of Science, Coimbatore-641 014 ABSTRACT The central role of branding in establishing the firm’s identity and building its position in the global marketplace among customers, retailers and other marketplace participants, makes it increasingly imperative for firms to establish a clear cut international branding strategy. This study examines the impact of branding aspects on firm performance in the emerging markets ofSoutheast Asia. Specifically, the question of standardization versus adaptation of brandpromotion is the focus of attention. After literature review, a conceptual model suggests that thestandardization of brand promotion as well as a long-term brand vision provided by management, positively influence target market performance. Furthermore, the model considers externalenvironmental factors. Data gathered from a survey with managers allow testing the hypothesesthrough structural equation modelling. The results of the quantitative study largely support thehypotheses. Keywords: Branding, Standardization, Performance, Emerging Markets. INTRODUCTION The globalization of the marketplace gave rise to the importance of international marketing. A greatnumber of the well-established theories in marketing are derived from research conducted in thecontext of advanced markets in highly industrialised countries, which raises the question whether thesetheories can be applied to the context of emerging markets as well (e.g. Burgess Steenkamp, 2006; Dawar Chattopadhyay, 2002; Jaworski Kohli, 1993). The question of generalisability across borders and the moderating role of emerging economies characteristics also play an important role inbrand management, as global branding has become a central issue in international marketing (Özsomer Altaras, 2008).
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME 2 However, literature notes that even though the academic interest is growing, research in theinternational branding topic is still not a major concern in international marketing, although it constitutes a central issue within a company’s overall marketing strategy (Douglas, Craig Nijssen, 2001; Whitelock Fastoso, 2007). The topic of international branding has not been clearly positionedwithin the field of marketing and international marketing, and the term “international branding” israther defined implicitly than explicitly (Whitelock Fastoso, 2007). According to Whitelock and Fastoso (2007), international branding is defined as “a field within international marketing concernedwith the challenges that companies face when their brands cross national borders”, naming challengesas brand name, brand visual and sound elements, and brand personality. A broader definition ofinternational branding is provided by Cheng, Blankson, Wu and Chen (2005), referring to internationalbranding as “the process of developing a firm’s brand equity that appeals to overseas target customers’positive attitudes about the brand”. LITERATURE REVIEW The standardization/adaptation debate has been a major concern among international marketingscholars for a long time and it is similarly relevant for international brand management considerationsin business practice. The advantages of standardizing a firm’s marketing and branding strategies havebeen frequently named as economies of scale, cost reductions and the creation of a unique brandimage across countries (Buzzell, 1986; Hassan Katsanis, 1991; Jain, 1989; Levitt, 1983). However,the stream of research regarding global brands does not come to an agreement as to how standardizedglobal brands are. The decision of standardizing or adapting a brand is not a dichotomous one, butrather a question of the extent of standardization or adaptation on a continuum. National marketcharacteristics and cultural differences have to be taken into consideration (Öszomer Altaras, 2008). As Quelch and Hoff (1986) state, the central issue is not whether to go global but how to tailor theglobal marketing concept. This holds true for brand management as well, for example when marketinga product under various brand names or adjusting the product to different markets. Regarding theelements of the international brand that are to be standardized or adapted, it is often argued that thecore concept of the brand including the positioning of the brand, brand architecture, brand personality,brand image and the functional and emotional benefits of the brand should not be altered. In contrastto this, authors state that the execution of the brand, meaning the detailed implementation through theaspects of the marketing mix, needs to be adjusted (de Chernatony, Halliburton Bernath, 1995). Quelch and Hoff (1986) argue that strategic brand elements are more easily standardized thanelements that are sensitive to execution. Brand execution is influenced by moderating factors of theemerging market environment. The main question is whether and how traditional branding from thedomestic market can be adapted in order to successfully fit into the context of an emerging market economy (Dawar Chattopadhyay, 2002). Previous research in emerging economies often tried to cope with the absence of a Southeast Asian business environment, (Peng, 2001). A great number of international scholars have adopted an imperialistmindset, assuming that is only a matter of time that the emerging markets will converge to advancedmarkets in terms of economic development and consumer behaviour (London Hart, 2004; Prahalad Lieberthal, 1998). Furthermore, many multinational companies focused strongly on the small wealthy segment inemerging economies, selling to them so-called global products. This strategy neglects theenormousnumber of consumers at the so-called bottom of the pyramid, who join the market for the first time (Prahalad Hart, 2002). Consumers at the bottom of the pyramid are loyal to local customs and oftenloyal to local brands. Transferring existing products and marketing strategies or selling outdated Western products to the emerging markets is not regarded as the appropriate way to
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME serve the largegroup of consumers at the bottom of the pyramid (Prahalad Lieberthal, 1998). The wealthy as wellas the poor consumers in emerging markets need to be catered for by different strategies (Hart Milstein, 1999). 3 Levitt (1983) has noted that a segment within a country is seldom unique. Due to globalisation, common segments sharing the same characteristics can be identified across countries. Czinkota, Gaisbauer and Springer (1997) note that due to a differing pace of economic transformation, Southeast Asia is not a homogeneous market. Therefore, strategies need to be differentiated across theheterogeneous market and consumer characteristics. However, strategies focusing on one countryoften pose high costs and may not be the right way serving emerging markets efficiently. Firms shouldrather consider an “emerging market strategy” with respect to the commonalities across emerging markets (Dawar Chattopadhyay, 2002). CONCEPTUAL MODEL AND HYPOTHESES DEVELOPMENT Considering the topic of branding in emerging markets, this paper suggests that certain brandingelements may be standardized in order to achieve superior target market performance. Particularlybrand promotion bears potential to be standardized due to the appeal of global brands in emerging markets (Steenkamp, Batra, Alden 2003). Figure 1: Conceptual model Figure 1 proposes that external factors of the emerging market environment, namelymedia infrastructure and customer homogeneity, drive the standardization of brand promotion in thetarget market. In this model, the standardization of brand promotion leads to superior performance inthe emerging target market. Furthermore, the model suggests a positive link between brand vision andtarget market performance. The following sections explore the links between the constructs as statedin the literature. Media infrastructure – promotion standardization link The availability of promotion infrastructure is a major consideration when determining theattractiveness of a foreign market (Manrai, Manrai Lascu, 2001). Özsomer and Simonin (2004) found a positive relationship between market infrastructure similarity including media availability andmarketing programme standardization in an emerging market. In developed markets,
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME masscommunication through television is used heavily to promote a brand and it is often regarded as aneconomical way to reach a high number of potential customers. In emerging markets, the situation canbe different, as mass media might not be similarly available. Dawar and Chattopadhyay (2002) arguethat personal selling allows more customised and interactive messages than mass media, and it canalso be more cost efficient in specific situations as it was observed by a company’s launch of a creditcard in Asia (Rangan, 1997). Media infrastructure can be measured by the availability of advertisingmedia, encompassing circulation of newspapers, and the number of radio and TV sets relative to thepeople in the country (Manrai et al. 2001). Additionally, the number of internet connections should beconsidered. Infrastructure such as telecommunications is often underdeveloped in emerging markets (Khanna, Palepu Sinha, 2005). In emerging markets such as the Philippines, as evidenced by interviews undertaken in connection with the study, the standardization of brand promotion leads to superior performance by allocating marketing strategies based on dermographics. Brand promotion when applied to the proper target market and determining their needs according to their culture, beliefs, age, financial capabilities and media infrastructure will definitely impact on the success of products being promoted locally and those for exportation (Herrera, 2010). Information gathered on these data will be the basis for developing the appropriate brand promotion. Therefore, the following hypothesis is stated: H1: There is a positive relationship between media infrastructure and the standardization of brand promotion. Customer homogeneity – promotion standardization link 4 Emerging markets are faced with changes in their social systems as they move towards a marketeconomy. Customers have a strong desire for products and services and the demand potential for allcategories of products and services is high. But in many countries unemployment is high and purchasing power varies (Manrai Manrai, 2001). In their study of consumer products offered bymultinational companies in less developed countries, Hill and Still (1984) mention factors causingproduct changes, among them purchasing power differences, socio cultural customs and taboos, customer preferences and purchasing habits. Even as emerging market customers become moreaffluent over time, it is not at all certain whether their preferences will converge into a worldwideconsumption pattern. However, due to globalization some segments may be homogenous across advanced as well as in emerging markets: H2: There is a positive relationship between customer homogeneity and the standardization of brand promotion. Promotion standardization – performance link The empirical findings on the standardization/adaptation question are inconsistent. A positive effect ofmarketing programme standardization on target market performance is shown in several studies (Özsomer Simonin 2004; Zou Cavusgil, 2002), whereas other studies reveal a positiverelationship between marketing mix adaptation and performance in the target market (Calantone, Cavusgil, Schmidt Shin, 2004; Cavusgil Zou, 1994; Cooper Kleinschmidt, 1985). Somestudies find no evidence for a relationship between adaptation and target market performance (O’Cass Julian, 2003; Samiee Roth, 1992). Performance may include objective as well as subjectiveaspects such as sales volume, growth rate, profitability and success perceived by management (Cavusgil Zou, 1994; Samiee Roth, 1992). This study suggests a positive effect of brandpromotion standardization on target market performance: H3: The standardization of brand promotion positively influences target market performance.
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME 5 Brand vision – Performance link A brand oriented-approach encompasses being impassioned and seeing the brand as a missionand a vision. The concept of brand orientation includes the concept of brand vision which canbe defined as “a projection of the brand out into the future”, answering the question what canbe achieved with the brand and highlighting the strategic aspect of brand management (Urde,1999). The attitude of top management plays an important role in this concept. In a more recent study, Wong and Merrilees (2008) found a significant influence of brand orientation on brand performance as well as a positive relationship between brand performance and financial performance. Therefore, this study hypothesizes a direct relationship between brand vision and performance: H4: Brand vision provided by management positively influences target market performance. METHODOLOGY AND RESULTS Results of the qualitative pre-study After the development of the research propositions out of the literature review, this study takes a twostage approach. At first, qualitative in-depth interviews with Philippine managers doing business in theemerging markets of Southeast Asia provide insight into the problem dimensions of thetopic. The managers were asked about the branding programmes of their firm in their most important Southeast Asian target markets. The interviews were recorded, transcribed and analysed. Categories were built for content analysis, andthey describe the problem dimensions of the topic. The interviews were analysed in a step-by-stepapproach according to previously established categories (Mayring Brunner 2007). The analysis of the interviews revealed that environmental factors play an important role for brandingprogrammes in the foreign target market. Although Southeast Asian countries share commonalities, each country in the region has to be considered individually. In general, theenvironmental factors are seen as rather stable. Regarding media infrastructure, the intervieweesmentioned a high usage of television and the internet, which makes it possible to standardize communication activities. However, differences in the media availability within a country have to beconsidered, particularly in urban versus rural areas. Thus, careful analysis of the media infrastructureis suggested. Although purchasing power is comparatively low in Southeast Asia, the desirability of Western products and brands is high according to the interviewees. The conclusion isthat at least in some segments, customer homogeneity exists and therefore brand promotionstandardization is feasible. The interviewees confirmed that they employ a standardized brandingprogramme in terms of promotion. One of the few exceptions from standardization was keeping astrong local brand name after the acquisition of a local competitor. The interviewees stated thatstandardization is a key performance driver in the emerging target market, and they highlighted theimportance of a managerial brand vision. Hence, the qualitative interviews support the conceptualmodel to a great extent. In a second step, the hypotheses suggested in the conceptual model are testedthrough structural equation modelling using PLS (Partial Least Squares). The data were gatheredthrough a quantitative survey among Philippine managers with business operations in Southeast Asia. Construct measurement The constructs of the survey were measured by existing scales that had previously been validated inthe literature. All constructs were measured using 5-point Likert scales anchored by “strongly agree”and “strongly disagree”. Furthermore, the scales were pretested among researchers in academia andbusiness practitioners with international experience. In this study, reflective measurement models wereapplied, i.e. that observed variables are interchangeable manifestations of
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME the underlying construct (Bagozzi Baumgartner 1994). Although literature lists certain decision criteria, the decision whetherthe measurement model is reflective or formative remains highly subjective (Homburg Klarmann 2006), as it is difficult to objectively determine the direction of causality from construct to measure(Edwards Bagozzi 2000). Hence it is problematic to talk about misspecifications as formative orreflective measurement models (Homburg Klarmann 2006). However, Table 1 shows the empirical and theoretical considerations of the formative and reflective measurement models. (Coltman, 2008) 6 Table 1 Considerations Reflective model Formative model Relevant literature Theoretical Considerations 1. Nature of Construct • Latent construct is existing • Latent construct exists independent of the measures used • Latent construct is formed • Latent constructs is determined as a combination of its indicators Borsboom et al. (2003, 2004) Direction of causality between items and latent construct • Causality from construct to items • Variation in the construct causes variation in the item measures • Variation in item measures does not cause variation in the construct • Causality from items to construct • Variation in the construct does not cause variation in the item measures • Variation in item measures causes variation in the construct Bollen and Lennox (1991); Edwards and Bagozzi (2000); Rossiter (2002); Jarvis et al. (2003) Characteristics of items used to measure the construct • Items are manifested by the construct • Items share a common theme • Items are interchangeable • Adding or dropping an item does not change the conceptual domain of the construct • Items define the construct • Items need not share a common theme • Items are not interchangeable • Adding or dropping an item may change the conceptual domain of the construct Rossiter (2002) ; Jarvis et al. (2003) Empirical Considerations 4. Item Intercorrelation • Items should have high positive intercorrelations • Empirical test: internal consistency andreliability assessed via Cronbach alpha, • Items can have any pattern of intercorrelation but should possess the same directional relationship • Empirical test: indicator reliability Cronbach (1951); Nunnally and Bernstein (1994); Churchill (1979); Diamantopoulos
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME 7 average variance extracted, and factor loadings (e.g., from common or confirmatory factor analysis) cannot be assessed empirically; various preliminary analyses are useful to check directionality between items and construct and Siguaw (2006) 5. Item relationships with construct antecedents and consequences • Items have similar sign and significance of relationships with the antecedents/conseque nces as the construct • Empirical test: content validity is established based on theoretical considerations, and assessed empirically via convergent and discriminant validity • Items may not have similar significance of relationships with the antecedents/conseque nces as the construct • Empirical test: nomological validity can be assessed empirically using a MIMIC model, and/or structural linkage with another criterion variable Bollen and Lennox (1991); Diamantopoulos and Winklhofer (2001); Diamantopoulos and Siguaw (2006) 6. Measurement error and collinearity • Error term in items can be identified • Empirical test: common factor analysis can be used to identify and extract out measurement error • Error term cannot be identified if the formative measurement model is estimated in isolation • Empirical test: vanishing tetrad test can be used to determine if the formative items behave as predicted • Collinearity should be ruled out by standard diagnostics such as the condition index Bollen and Ting (2000); Diamantopoulos (2006) The media infrastructure measure consists of four items established by Okazaki, Taylor and Doh(2007). The respondents were asked to assess the target market regarding the availability of similaradvertising media, the possibility to conduct similar market research studies, the similarity of mediacosts and the availability of advertising agencies with international networks. Customer homogeneitywas measured by four items also established by Okazaki, Taylor and Doh (2007). The constructincludes the assessment of customer similarity between home and target market, the appeal to similartarget segments in the foreign market, the similarity of lifestyle between the home and the foreignmarket, and finally the similarity of customers’ tastes and habits in the foreign market. Brand visionwas measured according to Vallaster and de Chernatony (2005). Respondents were asked to assess towhat extent the brand stands for a core set of values, whether the purpose of the brand was welldefined and whether the future direction of the brand was clear. The construct of promotionstandardization was measured by two items as suggested by Zou and Cavusgil (2002).
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME First, the similar execution of advertising in the home and the foreign market was assessed by the respondents, second they were asked to state to what extent they used similar techniques for sales promotion in thehome market and the foreign market. Finally, the measurement of the performance construct wasadapted from the EXPERF scale by Zou, Taylor and Osland (1998). They conceptualize performanceas a three-dimensional construct depicting financial performance, strategic performance andsatisfaction with performance. The original number of nine items to measure the construct wasreduced to five items in this study in order to avoid a lengthy questionnaire. Four items with lowerstandardized item-loading were left out, and the five items with the highest standardized item loadingwere used in this study. Hence, respondents were asked to assess the profitability and the generation ofa high sales volume in the foreign market regarding financial performance. Concerning strategicperformance, respondents assessed the improvement of the strategic position and the increase of themarket share in their main target market. Finally, the extent to which the performance has beensatisfactory was evaluated by the respondents. Results of the quantitative study using PLS path modelling 8 In order to test the hypotheses, a quantitative study among Philippine managers was conducted in September, 2012 drawing upon the database of the Philippines Chamber of Commerce. The questionnaire has been pretested among academics and international marketing practitioners likewise to ensure technical usability and conceptual correctness. A small number of questionnaires had to beremoved as they referred to target markets that were not relevant for this study, e.g. Singapore. Theonline survey yielded a total of 153 usable responses. As the questions were all declared as mandatoryin order be able to move on to the next question, the problem of missing values was not an issue in thisstudy. For data analysis, this study employed PLS (partial least squares) path modelling using SmartPLS 2.0(Ringle, Wende Will, 2005). The application of PLS is feasible as the sample size is comparativelylow and a LISREL approach would not make sense, as the minimum recommendation for LISREL is200. The robustness of model estimations even with smaller sample sizes is a clear advantage of PLS.Furthermore, PLS does not rely on distributional assumptions (Chin, 1998). A rule of thumb suggeststhat a sample analysed by PLS should be at least ten times larger than the largest number of exogenousconstructs that load on one endogenous construct (Chin Newsted, 1999). Thus, the minimumsample size required in this study is far exceeded by the sample consisting of 153 responses. The evaluation of the PLS path model results does not provide a global goodness-of-fit criterion. Thus, the evaluation of the measurement model and the evaluation of the structural model both determine thequality of the model. The assessment of the reflective measurement model includes compositereliability, indicator reliability, average variance extracted (AVE), and cross-loadings (Henseler, Ringle Sinkovics, 2009). Composite reliability is a measure of internal consistency, and the valuesmust not be lower than 0.6 (Henseler et al., 2009). Table 2 shows that all values are above the threshold: Table 2: Composite reliability Variable Composite Reliability Brand Vision 0.93 Customer homogeneity 0.91 Media infrastructure 0.83 Promotion standardization 0.87 Performance 0.93
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME 9 In terms of indicator reliability, the absolute standardized outer loadings should be above 0.7(Henseler et al., 2009), which is met by all indicators of the model except one: Table 3: Indicator reliability Variable Indicator Reliability Media infrastructure 0.80 / 0.83 / 0.50 / 0.79 Customer homogeneity 0.88 / 0. 81 / 0.87 / 0.84 Brand vision 0.91 / 0.91 / 0.88 Promotion standardization 0.89 / 0.87 Performance 0.75/ 0.85 / 0.91 / 0.84 / 0.87 As shown in the Table 3, one indicator of the media infrastructure construct is below 0.7 However,the recommendation to eliminate reflective indicators from the model refers to values below 0.4 (Henseler et al., 2009). As the value of the indicator in question is 0.5, the indicator is not eliminatedfrom the model. Proceeding to the next step in the assessment of the measurement model, the average varianceextracted (AVE) should be higher than 0.5 (Henseler et al., 2009), which is met by all values of the model: Table 4: Average variance extracted Construct AVE Media infrastructure 0.56 Customer homogeneity 0.72 Brand Vision 0.82 Promotion standardization 0.77 Performance 0.71 Finally, the assessment of the measurement model encompasses the examination of the cross-loadingsin order to account for discriminant validity: Table 5: Cross-loadings Brand vision Customer homogeneity Media infrastructure Performance Promotion standardization BVISION1 0.91 0.06 0.33 0.37 0.27 BVISION2 0.91 0.04 0.34 0.29 0.28 BVISION3 0.88 0.11 0.30 0.24 0.19 CUSTHOMO1 -0.05 0.88 0.19 0.30 0.22 CUSTHOMO2 0.06 0.81 0.13 0.17 0.17 CUSTHOMO3 0.08 0.87 0.24 0.22 0.24 CUSTHOMO4 0.17 0.84 0.16 0.28 0.20 MINFRA1 0.39 0.12 0.80 0.33 0.52 MINFRA2 0.21 0.19 0.83 0.26 0.54 MINFRA3 0.17 0.16 0.50 0.07 0.28 MINFRA4 0.28 0.19 0.80 0.22 0.58 PERF1 0.13 0.34 0.23 0.75 0.25 PERF2 0.21 0.18 0.20 0.85 0.31 PERF3 0.38 0.23 0.33 0.91 0.36 PERF4 0.40 0.24 0.27 0.84 0.33 PERF5 0.23 0.25 0.26 0.87 0.29 PSTAND1 0.21 0.14 0.39 0.23 0.89 PSTAND2 0.27 0.31 0.47 0.43 0.87
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME 10 In summary, it can be stated that the evaluation of the measurement model has yielded reliable andvalid model estimations. Therefore, the structural model can be assessed in the next step through R² ofendogenous variables and estimates for path coefficients. The coefficient of determination (R²) of theendogenous latent variables describes the structural model. Values above 0.67, 0.33, or 0.19 forendogenous latent variables in PLS path models are regarded as substantial, moderate or weak (Chin1998). If a structural model explains an endogenous latent variable by only one or two exogenouslatent variables, a lower threshold for R² values is acceptable (Henseler et al., 2009). Table 6: R² of endogenous variables Endogenous variable R² Promotion standardization 0.46 Performance 0.20 Table 6 shows that the R² values obtained from the PLS path model are moderate for promotionstandardization and weak for performance. As performance is influenced by a number of other factorsthat have not been considered in this model, the rather low R² value has to be regarded as acceptablecompared to other studies in this research field (e.g. Sichtmann van Selasinsky, 2010). Path coefficients of the structural model are evaluated according to sign, magnitude and significance.The latter is determined via the bootstrapping procedure. The sign of the structural paths should be inline with previously postulated signs. The threshold for substantial relationships is 0.2. Values below 0.2 are further clarified through bootstrapping which provides additional information and proof. Here, bootstrapping is conducted with 5000 subsamples and a student’s t-test is performed. The threshold forthe empirical t-value is 1.965 at a significance level of 95%, values that are higher are regarded as significant (Henseler et al., 2009): Table 7: Path coefficients and t-values Relationship Path coefficient Empirical t-value Significance H1: Media infrastructure = promotion standardization 0.64 9.45 Significant H2: Customer homogeneity = promotion standardization 0.11 1.71 Not significant H3: Promotion standardization = performance 0.30 3.47 Significant H4: Brand vision = performance 0.26 4.20 Significant The analysis of the structural model reveals that three hypotheses (H1, H3, H4) can be supported.Media infrastructure has a positive and significant influence on the standardization of brand promotionactivities in the South East Asian target market. The standardization of brandpromotion in turn has a significant impact on firm performance in the foreign target market, whichsupports the standardization perspective in international marketing literature. Finally, brand
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME visionprovided by top management has a positive and significant influence on firm performance in the Southeast Asian target market. The hypothesized relationship between customerhomogeneity and promotion standardization could not be supported in this study. 11 DISCUSSION AND IMPLICATIONS In the international marketing literature there has been a long debate on the question of standardizationversus adaptation of marketing activities. Previous studies on the performance effects ofstandardization/adaptation of marketing and branding programmes have yielded mixed results. Thefindings of this study add to the existing body of literature by supporting the view of positivestandardization effects on firm performance in the foreign target market. Furthermore, a large numberof studies have focused on the context of advanced markets such as the US, Western Europe or Japan, whereas emerging markets have been largely neglected. By considering the foreign target markets ofSoutheast Asia, this study takes into account the emerging markets context. This study considers media infrastructure and customer homogeneity as antecedents of brandpromotion standardization. Media infrastructure plays a crucial role in emerging markets, as it is oftennot as developed as in advanced markets. The positive influence of media infrastructure on brandpromotion standardization in the markets of Southeast Asia highlights the importance ofmedia infrastructure availability. Thus, a managerial implication resulting from this significantrelationship is to carefully consider the existing media infrastructure in the foreign target markets ofSoutheast Asia.Although there is a potential for standardizing brand promotion keep in mind that itis not a homogenous region. Differences in the development of the infrastructure do exist, and eachcountry has to be examined separately. The rationale for choosing customer homogeneity as antecedent for promotion standardization goesback to the question of the existence of the Asian customer and the conversion of tastes over time.The relationship between customer homogeneity and brand promotion standardization turned out to benon-significant. As mentioned above, Southeast Asia is not a homogenous region andeach country has to be examined separately before market entry. Some countries may sharecommonalities with other emerging markets or with other advanced markets. Therefore, brandpromotion standardization may not be feasible under each circumstance in the context of the emergingmarkets of Southeast Asia. The results of this study support the positive impact of brand promotion standardization on firmperformance in the foreign target market. Given the complex environment of the firm and the highnumber of factors contributing to the international success of the firm, the conclusion is that the effectsof brand promotion standardization are substantial. Thus, a standardized approach towards brandpromotion at least to a certain extent is recommended for the emerging markets of Southeast Asia. Cost savings and economies of scale associated with standardization, as previously suggestedin the international marketing literature, are supported for the emerging markets of Southeast Asia. Thus, basic assumptions derived from research mainly conducted in advanced markets holdtrue for the context of emerging markets as well. This study therefore adds to the question oftransferability of traditional marketing theories and concepts from advanced markets to emergingmarkets. Finally, the results of this study contribute to branding research in international marketing. So far,international branding is still under-researched in the marketing and international business literature (Whitelock Fastoso, 2007). This applies even more to the research setting of emerging markets suchas Southeast Asia. The positive and significant effect of brand vision on firm performancehighlights the role of top management for a successful brand management leading to an increasedperformance of the firm in the foreign target market. Thus, firms and their managers are encouraged toestablish and actively live the vision of their brand. Top managers may act as role models conveyingthe values of the brand to their employees and customers likewise. In international
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International Journal of
Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 5, Issue 7, July (2014), pp. 01-15 © IAEME businessoperations, the vision of the brand can serve as a common anchor across countries and cultures. LIMITATIONS AND DIRECTIONS FOR FUTURE RESEARCH 12 Some limitations of this study result from the conceptual focus and the research design that led totrade-off decisions in some areas. First of all, the variables examined cover only a small part of thecomplex international environment of the firm. The number of potential sources that have an influenceon standardization and performance is high. Thus, the conceptual model of this study depicts a highlyspecific area of investigation. A number of alternative conceptual models including other variables andantecedents in terms with respect to the branding topic would be feasible. Another limitation lies in the empirical context in which the study was conducted. The study focusedon managers of Philippine firms doing business in the emerging markets of Southeast Asia.Generalisations of the findings should be made with caution, as the institutional context of Southeast Asian countries might differ from other emerging markets such as India, China or Brazil.In these markets, the relationships that were supported in the model of this study may turn out to bedifferent. The hypotheses that were supported in this study might not hold in other empirical settings. Thus, further research should incorporate different countries or regions in an emerging market context.The research design took the form of a cross-sectional study covering a broad range of industries.However, in future research it would be important to also conduct longitudinal studies on the topic ofstandardization and firm performance to support the generalisability of the results. Another avenue forfuture research would be a sector-specific approach. Furthermore, a key informant was asked in eachfirm to elicit his or her perceptions of the variables in question. Future studies could include multipleinformants of one firm or objective data to triangulate the answers. Regarding the measurement of the constructs, this study relied on scales that have already been used inempirical research and published in high-quality academic journals. In the case of brand promotionstandardization, this resulted in a measurement with fewer than three items. Although this scalereceives support in the literature, a greater number of items would be desirable with respect toincreased reliability in future studies on the topic. Another limitation lies in the use of PLS for modelestimation and for testing the hypotheses. As PLS does not allow testing the overall fit of the model, future studies could rely on covariance based structural modelling using for example LISREL orAMOS. REFERENCES [1] Bagozzi, R. P., Baumgartner, H. (1994). The Evaluation of Structural Equation Models and Hypothesis Testing. In R. P. Bagozzi (Ed.), Principles of Marketing Research, 386-422. Cambridge, MA: Blackwell. [2] Birnik, A., Bowman, C. (2007). Marketing mix standardization in multinational corporations: are view of the evidence. International Journal of Management Reviews 29(4): 303-324. [3] Burgess, S. M., Steenkamp, J.-B.E.M. (2006). Marketing renaissance: how research in emerging markets advances marketing science and practice. International Journal of Research in Marketing, 23(4): 337-356. [4] Buzzell, R. D. (1968). Can you standardize multinational marketing? Harvard Business Review, (November-December): 102-113.
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