Short answer
Hotels should move beyond abstract notions of brand equity to develop concrete strategies that link consumer-perceived value to measurable financial outcomes.
- Field
- Innovation & Markets
- Source
- SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University) (2007)
- Method
- Qualitative research involving literature review and empirical investigation with industry practitioners.
- Evidence
- Moderate effect
Understanding and strategically managing brand equity is crucial for enhancing consumer value, fostering loyalty, and achieving price premiums within the UK hotel industry. This innovation & markets research insight is drawn from a 2007 study published in SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University). Using Qualitative research involving literature review and empirical investigation with industry practitioners., researchers explored how this design variable affects real-world outcomes. The key design takeaway: Hotels should move beyond abstract notions of brand equity to develop concrete strategies that link consumer-perceived value to measurable financial outcomes.
Brand Equity in UK Hotels: A Framework for Strategic Management
Understanding and strategically managing brand equity is crucial for enhancing consumer value, fostering loyalty, and achieving price premiums within the UK hotel industry.
SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University) · 2007
Key Findings
- 01There is a lack of consistent agreement on the definition and use of brand equity, particularly within the hotel industry.
- 02Brand equity, from a consumer perspective, is linked to the value consumers perceive and their subsequent loyalty and willingness to pay a premium.
- 03From a company viewpoint, brand equity can be translated into financial value.
- 04Empirical evidence suggests a correlation between consumer-based brand equity and financial performance in the hotel sector.
- 05A conceptual framework for strategic brand management in the hotel industry was developed.
Application
Design takeaway
Hotels should move beyond abstract notions of brand equity to develop concrete strategies that link consumer-perceived value to measurable financial outcomes.
How to apply
Conduct internal workshops to define brand equity for your specific hotel brand, identifying key consumer touchpoints and desired perceptions. Develop a roadmap for building and measuring brand equity based on these definitions.
Project actions
- 01Clearly define what 'brand equity' means in the context of your design project.
- 02Consider both how users perceive the brand and how it benefits the business.
- 03Think about how to measure the impact of your design choices on brand equity.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Addresses a recognized gap in understanding brand equity within a specific industry.
- +Combines theoretical review with practical industry insights.
Limitations
The study's findings are specific to the hotel industry and may not apply directly to other design fields. The practitioner interviews are based on subjective opinions.
Reliability & validity
The reliability of the practitioner interviews may be limited by individual interpretation. Validity is strengthened by the literature review and the development of a conceptual framework, but the empirical link between consumer perception and financial performance requires robust quantitative data.
Think critically
How can the abstract concept of 'brand equity' be objectively measured and consistently applied across diverse hotel brands and market segments?
Design Principles
"Brand equity is a strategic asset that, when clearly defined and managed, drives consumer loyalty and financial performance."
This research highlights that while brand equity is a recognized concept, its application in the hotel sector requires a clear framework. By defining brand equity from both consumer and company perspectives, hotels can develop more effective branding strategies that translate into tangible financial benefits.
What This Means for Your Design
This study shows that for hotels, having a strong brand name that customers like and trust is really important. It helps customers stay loyal and might even let the hotel charge more, which is good for business.
How to use in your project
- 1.Use the findings to justify design decisions that aim to enhance brand perception and loyalty.
- 2.Reference the study when discussing the strategic importance of branding in your design process.
Add to My Project
Quick Cite
Paragraph starter
This research highlights the critical role of brand equity in the hotel industry, emphasizing that a clear understanding and strategic management of brand value can lead to increased consumer loyalty and financial gains. By focusing on how consumers perceive brand benefits, businesses can foster loyalty and potentially command price premiums, directly impacting their market position and profitability.
Source
SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University)
UK hotel industry brand equity : its meaning and uses for brand management
journal · 2007
View sourceQuestions About This Research
- What does the research say about brand equity in uk hotels: a framework for strategic management?
- Hotels should move beyond abstract notions of brand equity to develop concrete strategies that link consumer-perceived value to measurable financial outcomes. Evidence: SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University) (2007).
- Why does "Brand Equity in UK Hotels: A Framework for Strategic Management" matter for design?
- This research highlights that while brand equity is a recognized concept, its application in the hotel sector requires a clear framework. By defining brand equity from both consumer and company perspectives, hotels can develop more effective branding strategies that translate into tangible financial benefits.
- How can designers apply this research?
- Hotels should move beyond abstract notions of brand equity to develop concrete strategies that link consumer-perceived value to measurable financial outcomes.
- What were the main findings?
- There is a lack of consistent agreement on the definition and use of brand equity, particularly within the hotel industry.. Brand equity, from a consumer perspective, is linked to the value consumers perceive and their subsequent loyalty and willingness to pay a premium.. From a company viewpoint, brand equity can be translated into financial value.. Empirical evidence suggests a correlation between consumer-based brand equity and financial performance in the hotel sector.
- What research method was used?
- Qualitative research involving literature review and empirical investigation with industry practitioners..
- How strong is the evidence?
- Evidence strength is rated Moderate effect, based on a 2007 journal from SHURA (Sheffield Hallam University Research Archive) (Sheffield Hallam University).
- What should I do differently in my next project?
- Conduct internal workshops to define brand equity for your specific hotel brand, identifying key consumer touchpoints and desired perceptions. Develop a roadmap for building and measuring brand equity based on these definitions.
- What are the limitations?
- The research is specific to the UK hotel industry and may not be directly generalizable to other sectors or geographical regions. The practitioner interviews provide subjective interpretations.