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Module Code MG3119
Module Title Issues and Controversies in Management
Project
Module leader Afshin Mansouri
Student ID number 0705468
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0705468 Page 1
Surname
CLARK
2. this file.
‘Exploring Brand Recognisability and
Familiarity Within the Luxury and Premium
Car Industry – The Case of Ferrari’
Student Name: Antony Clark
Student Number: 0705468
Degree Course: Business & Management BSc
School: Brunel Business School
Supervisor Name: Dr. Afshin Mansouri
Word Cont:
Submission Date: 9th
March 2011
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3. ABSTRACT
The project explored brand recognisability and familiarity within the luxury car
market, using a deductive and positivism approach. The study found that there is a
clear positive correlation between ‘brand familiarity’ and ‘brand mediums’, with the
highly recognised companies benefitting from a wider range of mediums. It was
found that there was no superior method to achieve familiarity but it was concluded
that organisations will benefit from a greater range of techniques.
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4. Acknowledgements
I would like to thank several people who supported me throughout the course of this
project. Firstly, my supervisor, Afshin, for the help, support and guidance I received
throughout the year.
Secondly, I would like to show my appreciation to my family, friends and girlfriend
for their support and encouragement during the development of the project.
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5. Table of Contents
Table of Contents...................................................................................................5
Chapter 1 - Introduction.........................................................................................6
1.1 Background Information..................................................................................6
1.2 Organisation History........................................................................................7
1.3 Research Justification.......................................................................................8
1.4 Aims and Objectives........................................................................................9
1.4.1 Aim................................................................................................................9
1.4.2 Objectives......................................................................................................9
Chapter 2 - Literature Review................................................................................9
2.1 Introduction......................................................................................................9
2.2 Branding.........................................................................................................10
2.3 Brand Reputation............................................................................................10
2.4 Brand Name....................................................................................................10
2.5 Patrician Vs. Parvenus....................................................................................11
2.6 Loud Vs. Quiet Branding...............................................................................12
2.7 Brand Logo.....................................................................................................12
2.7 Publicity.........................................................................................................13
2.9 Computer Games and TV...............................................................................14
2.10 Printed Adverts.............................................................................................15
2.11 Alternatives..................................................................................................15
Chapter 3 - Research Methodology......................................................................16
3.1 Introduction....................................................................................................16
3.2 Approach........................................................................................................17
3.3 Strategy and Design.......................................................................................18
3.4 Data Collection...............................................................................................18
3.4.1 Primary Research........................................................................................18
3.4.2 Quantitative Vs. Qualitative .......................................................................19
3.4.3 Questionnaires.............................................................................................19
3.5 Limitations.....................................................................................................20
3.6 Sample Size....................................................................................................20
3.7 Accuracy and Reliability................................................................................21
3.8 Validity...........................................................................................................21
3.9 Time...............................................................................................................21
3.10 Access...........................................................................................................22
3.11 Ethical Issues................................................................................................22
3.12 Summary......................................................................................................23
Chapter 4 - Results, Findings and Analysis.........................................................23
4.1 Introduction....................................................................................................23
4.2 Sample of Participants....................................................................................23
4.3 Brand Logo Recognisability...........................................................................24
4.4 Importance of Factors.....................................................................................26
4.5 Brand Familiarity and Medium......................................................................28
Chapter 5 – Conclusion........................................................................................32
5. 1 Summary of Findings....................................................................................32
5.2 Recommendations..........................................................................................32
References............................................................................................................34
Appendices...........................................................................................................39
Appendix 1...........................................................................................................39
Appendix 2...........................................................................................................43
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6. Chapter 1 - Introduction
1.1 Background Information
The main focus of this project is how Ferrari has produced such a strong brand
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7. awareness with seemingly little marketing. The project aims aim to establish how
Ferrari has created a reputable brand image, not just in the car industry, but in
global organisations as a whole. Act Value and Italia Oggi (2010) conducted a
survey investigating brand reputation amongst internet users. The results concluded
that Ferrari had 92% positive feedback, which is the highest positive rating amongst
other global brands (Ferrari, 2010).
The luxury and premium car market is seen as a highly competitive environment
with many barriers to entry (Parment, 2008), with new entrants finding it very tough
to compete in. In December 2010, BBC News (2010) produced a report based on a
new entrant to the market, Marussia Motors. It is the first luxury sports car to be
produced in Russia and the organisation states to compete directly with Ferrari and
Lamborghini. However, many marketers and industry observers are very sceptic
that the company can be a success within a highly demanding market place. It is
interesting to observe how new companies can enter a market, especially with such
established competition and specific wants and needs from consumers (Moskvitch,
2010). It is with this thought that the project sets out to explore brand familiarity
and awareness within the luxury car market, with specific focus on Ferrari.
1.2 Organisation History
Ferrari S.p.A was founded in 1929 in Italy by Enzo Ferrari under the name Scuderia
Ferrari (Scuderia being Italian for ‘Stable’, thus transferring to ‘Team Ferrari’). It
was initially set up to sponsor and manufacture racing cars for amateur racers to
drive, after Enzo himself used to race. The factory used to build these cars was
originally set up in Modena, but later moved to Maranello in 1943, where it still
remains to the present. It was in 1947, that the first Ferrari road car was produced;
however, this was mainly to fund the racing aspect of the company (Berg, 2005).
Ferrari went on to become a huge success in racing during the 50’s and 60’s and
were also increasing production of their road cars to a very praising market.
However, due to poor financial management, 50% of the company was sold to Fiat
in 1969 (which has increased to almost 90% over the years). Jack Yan (2005)
reveals that there was huge doubt about the organisations future and whether it
could even survive past the 60’s. Many employees were fired and the company
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8. became a failure on the race track, waiting 11 years to win another championship
(Hayhoe and Holland, 2006).
The current Ferrari Chief Executive, Luca Di Montezemolo, became chairman and
CEO in 1991. He was given the task of overhauling the organisation and ensured
the Formula 1 team became successful again and increased the quality of the road
cars. He also paved a new way for marketing at Ferrari (Monk, 1999), which will be
discussed later in the report.
Ferrari is currently based in Maranello, and currently has 2,835 employees. New car
sales for 2009 were 6,235 and there is currently a year and a half waiting list for
new Ferrari’s. According to Fiat’s Annual Report 2009, Ferrari generated net
revenue of €1,778 million and a trading profit of €238 million. Ferrari is now one of
the world’s most successful exotic and luxury car manufacturers, and also the most
successful team in Formula 1, competing in every season since the introduction of
the championship, winning 16 Constructor’s and 15 Driver’s Championships (Fiat
Annual Report, 2009).
1.3 Research Justification
It is the viewpoint made in the BBC article (2010) which forms one of the
foundations of this project. A new entrant within a market will need to ensure
consumers become familiar with the brand and recognise the organisation amongst
its rivals. For this to happen, there must be a need for advertising, yet within the
premium and luxury car market, there is very little known or traditional marketing.
However, this hasn’t prevented manufacturers such as Ferrari building a status and
well recognised brand globally. The company has become one of the most
recognisable and most valued brands in the world (Schwartz, 2010), with an
instantly recognisable logo and a massive global presence, seemingly without trying
to.
Although there is much literature regarding non- traditional advertising techniques,
there hasn’t been as much academic research based upon the brand image and
recognisability within the car industry and more specifically, that of the luxury and
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9. premium sector. The project sets to address this problem and aims to find out how
such companies can generate the name and recognition within this market and also,
how competitors or even new entrants, such as that of Marussia Motors, can adopt
or utilise techniques to generate brand familiarity and recognisability.
1.4 Aims and Objectives
1.4.1 Aim
To explore how Ferrari has gained such great brand familiarity and awareness as
opposed to lesser known organisations within the luxury and premium car market.
1.4.2 Objectives
In order to achieve the research aim, certain objectives must be completed -
1. To examine key literature in relation to brand familiarity and awareness.
2. To find out what can make a brand familiar to consumers.
3. To examine what techniques car manufacturers are currently using to create
brand awareness
4. Critically assess results with regards to theories on brand familiarity.
5. To make a thorough conclusion in relation to literature regarding brand
familiarity and suggest recommendations.
Chapter 2 - Literature Review
2.1 Introduction
This section will analyse a wide range of literature including e-journals, academic
books and websites and will discuss theory put across by them, relevant to
answering my project question. It will analyse hypothesis regarding brand
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10. familiarity and awareness.
2.2 Branding
All organisations aim to achieve a highly reputable image and a strong, successful
brand reputation among their customers and the market itself using various
techniques in marketing in order to attain this status. Quester et al (2001) found that
the way to accomplish this is through the effective use of branding, creating brand
awareness and recognition for potential users of the brand. Familiarity and
preference is another advantage as it becomes easier for customers to choose due to
the image. Perreault and McCarthy (2000) found that it becomes a lot easier for
companies to launch new products under a recognised brand name as consumers
who use the products anyway, will be fully aware of new products and what they
offer with previous marketing techniques of high reputation brands affecting future
efforts from the organisation (Chaudhuri, 2002), thus saving promotion costs.
2.3 Brand Reputation
Through his research, Zajonc (1980) found that a greater exposure and awareness of
a brand, leads to a positive impact on the reputation. Cole and Flynn (2009) studied
reputation in their work and found that that a high perceived reputation would gain
the trust of consumers which in turn creates loyalty. This loyalty is often a great
attraction to companies as it can demerit alternatives in a consumers mind. Dowling
(1994) concluded that reputation is often a key influencer in choosing between
similar brands with greater reputations often associated with superior performance
to competition (Fombrun and Shanley, 1990).
2.4 Brand Name
When operating in a highly competitive and niche market, the brand name is one of
the most important factors facing a company, as this differentiates the product from
rivals (Dawar and Philip, 1994). From studies conducted regarding consumer
beliefs, it was found that brand names are more important than price, which is in
turn more important than the physical appearance of the product. This is due to the
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11. fact that price and appearance can be compared with alternatives, whereas the brand
name is specific.
When trying to market a product, Jarvis and Goodman (2005) argue that certain
factors must be conveyed to the consumer; high quality, a generic product name,
consistent brand associations, rarity and exclusivity, and a unique story of the brand
or product itself. No matter what method a company chooses to market its products,
these factors must all be communicated to create familiarity and awareness.
Halliday (1998) studied various marketing techniques that niche and luxury car
companies use in order to gain sales and his findings suggest that these differ
greatly from other car manufacturers, but use very similar techniques with the
competition. Even though rival organisations aim to outdo one another, their selling
points are very similar and create a very thin line in differentiation and unique
selling points. Most niche car manufacturers tend to use very little, if any,
conventional media advertising and choose to opt for direct and personal selling.
Auto consultant John Rettie describes brands such as Ferrari and Lamborghini as
‘too exclusive to be advertised as selling too many will take away the exclusivity’
(Halliday, 1998).
2.5 Patrician Vs. Parvenus
Han et al (2010) found there are several types of groups which consumers fall under
in regards to luxury and premium products, with the most notable being ‘patricians’
and ‘parvenus’. Patricians will pay premium prices for branded products due to their
wealth; however, they purchase due to the product itself rather than the status it
brings. Patricians use these luxury brands to relate to other patricians and
differentiate from the masses. It is this type of consumer where ‘quiet’ signals are
seen to be more effective, as patricians are more likely to recognise the brand.
In contrast to this patricians, parvenus ‘crave the status that luxury products can
bring’ but at the same time may not always know the true quality or have much
knowledge of the product, hence why they are more attracted to ‘loud’ branding, as
they may not always recognise the brand with lesser logos.
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12. 2.6 Loud Vs. Quiet Branding
A study by Han et al (2010) compared luxury products which held both ‘loud’ and
‘quiet’ branding. Mercedes-Benz was found to use a larger symbol on the lower end
products whereas the more expensive models were built with smaller logos on. It
was concluded that the more expensive models were owned by patricians who
choose to be more discreet in product choices while the lower end products were
normally purchased by parvenus who desired to become more like patricians.
Eastman et al (1999) discuss that many luxury products are purchased for the status
and value they can bring to the owner, with consumers desiring to be associated
with particular brands which can gain them a social prestige (Escalas and Bettman,
2003). However, Han et al (2010) describe two contrasting signals in reference to
the status a brand can bring with use of logos; loud and quiet. Loud branding is
related to products with distinct attributes such as the organisations associated
‘colour’ or ‘pattern’ or an overwhelming use of the brand logo and name. Discreet
and ‘toned down’ products are referred to as ‘quiet’, often using subtle labelling or
attributes with very little use of the organisation logo.
2.7 Brand Logo
A recent study concluded that the more successful luxury products do not depend on
a logo to be recognised by consumers (Han et al, 2010). It was found that car
companies such as Porsche are widely recognised whether a logo is placed on the
product or not. However, car manufacturers such as Mercedes-Benz may be
mistaken for alternative products if a logo was not placed on the product. Han et al
(2010) therefore argued that Porsche was the more widely recognised company.
An organisation must aim to possess a recognisable and familiar brand logo in order
to achieve a greater reputation and perceived view from consumers. Zaichkowsky
(2010) investigated brand names and logos and found several interesting points
worthy of note. Firstly, it was found that the type of font used within a brand logo
can have a significant impact on the views of consumers (Lencastre and Beirao,
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13. 2004). In regards to luxury and premium product producing companies, such as
Ferrari or Maserati, italics are seen to be the most ideal font style, showing a sign of
quality (Doyle and Bottomly, 2004). However, companies which hope to be
perceived as a more economic and strong company chose a more ‘bold’ font
approach. Organisations that desire to be known for reliability often have a ‘box-
like’ font, with consumers viewing this to be a sign of trustworthiness. Zaichkowsky
(2010) also found that for a brand name or logo to be successful, it must be easy to
pronounce or read; as there is a greater chance it will be remembered in the future.
Another significant factor regarding a company logo is the colours used as this can
often be described as ‘the first point of brand identification’. It has been found that
colours are more likely to be remembered than shapes, hence why it is so important
for an organisation to adopt an identifiable colour. Zaichkowsky (2010) discovered
that the more successful brand logos consist of a minimum of colours as this can
lead to a higher recall rate, as an organisation cannot build an identity with many
differing colours. Also, colours can have many cultural meanings which in turn can
affect the success and reputation of the organisation. Some countries, such as China,
view red as a sign of luck, whereas the Western World view the colour as a signal of
strength and power (Zaichkowsky, 2010). In this sense, it is an ideal view for
organisations to use the same colour throughout their product range, perceiving a
sense of character and creating a significant distinction among competition.
The most important factor of a brand logo is its uniqueness. A logo must be distinct
in order to be distinguished easily from its competitors or even organisations in
different industries (Zaichkowsky, 2010). This can be seen as one of the initial
aspects when determining the uniqueness and differentiation within the market. It
has been found that consumers are willing to pay more if a brand is significantly
distinct and recognisable as customers perceive an image which they desire to
become part of.
2.7 Publicity
One theory in regards to brand logos is that ‘a repeated exposure to words, slogans
and pictures increases positive effect towards these stimuli’ (Bornstein, 1989).
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14. However, Han et al (2010) found that a ‘no logo’ strategy can have the same effect,
as not only is it more recognisable to ‘those in the know’, but also conveys a sense
of prestige surrounding the brand. Wilcox et al (2009) describe products with no
logos as ‘less apt to serve the social functions of self-expression and self
presentation’ thus increasing the prestige viewpoint. This can often be the case for
luxury and premium products such as Rolls Royce, in which the product can bring
the owner a certain degree of prestige (Grossman and Shapiro 1988) due to the fact
they generate very little publicity.
However, Han et al (2010) found a contrasting viewpoint; luxury companies should
advertise to the mass public as well to their target market. Although it is often
argued that this could have a negative impact on the prestige status of an
organisation, many marketers argue that in order to create this status, the public
must know about the company as this creates an aspiration to consumers who will in
turn desire the product. McFadden et al (2009) backs this point with findings that
suggest that although premium producing niche manufacturers have steady sales,
they need to broaden their marketing strategy and promotional plan in order to
elevate and maintain the prestige status of their products.
Quester et al (2001) brought together much literature regarding branding and
concluded that ‘name, term and symbol/logo’ in that order, are vital to creating
effective brand awareness and recognition. These 3 factors can create familiarity
amongst consumers and can in turn lead to preference over alternatives.
2.9 Computer Games and TV
Organisations are continually looking for new methods to advertise and promote
their products (Dahlen, 2009) and one such method is product placement. This has
been seen by many, as to be the most effective when used by niche organisations
(Mackay et al, 2009), especially car manufacturers. When considering product
placement regarding cars, one significant technique is through the use of computer
games, such as ‘Gran Turismo’, to allow a virtual interaction between consumers
and their products, which can be a form of indirect marketing (Mackay et al, 2009).
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15. The other such method is through the use of film and TV. Delorme and Reid (1999)
found that consumers are often more inclined to acknowledge or purchase products
used by characters in film and TV, with this becoming a very popular technique for
companies to market their products, with the Aston Martin brand being one of the
most famous product placements through its use within James Bond franchise
(Diamond, 2002). Research has shown that brand recognition can increase by
almost 20% through the use of product placement (Patterson, 2006).
2.10 Printed Adverts
Before these new marketing techniques became common use within the niche car
industry, organisations mainly used printed adverts in various media outlets such as
Forbes, Fortune, and the Wall Street Journal as these were able to reach the targeted
audience. However, the industry gradually changed with ex-Lamborghini dealer Vic
Keuylian saying in 1998 that the organisation would not print national adverts
anymore as ‘the cars sold themselves’ (Halliday, 1998).
2.11 Alternatives
Rolls Royce also changed their marketing to reach a more targeted audience, rather
than focusing solely on printed adverts. The organization explored news ways in
which to interact with potential customers, holding dedicated events for the launch
of the new Silver Seraph at art galleries, museums, and restaurants, featuring all the
companies past models to portray the image and reputation (Chaudhuri, 2002). As
stated by the national marketing director of Rolls Royce, John Bingham, the
company believes they are offering more than just a car and in this case believe it
can also be described as art (McQuarrie and Mick, 1996). Marketing at events in
which a target audience is likely to attend, allows the company to directly put across
their desired message and image of the car (Halliday, 1998). By exploring new
channels, specifically, the target audiences other interests outside of cars, the
strategy became very successful attaining just under 100 orders for the new model.
Chaudhuri (2002) states that ‘most organisations have a past and a reputation that
the advert tries building upon’ with many organisations, especially niche producing
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16. companies, using non-traditional advertising to put across their products and image
to consumers, enhancing brand familiarity (Dahlen and Edenius, 2007). The benefit
to non traditional media is that it is not perceived by the target audience as
advertising which is why it can be often more effective but Milewicz and Herbig
(1994) warn that the more a company does this, the less effective the media will
become.
Chapter 3 - Research Methodology
3.1 Introduction
The aim of this chapter is to explore the research methods adopted for the project. It
will highlight and examine the methodological and data collection approaches,
critically reviewing and justifying the methods taken to achieve the project aims. It
will explore the design and strategy, explaining the benefits and downfalls to such
methods, reasoning why certain approaches have been adopted over alternatives.
Furthermore, this section will examine accuracy, reliability and validity, also taken
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17. into account ethical issues which will arise in conducting the research.
3.2 Approach
As discussed by Saunders et al (2009), there are two distinct approaches to research;
inductive and deductive. An inductive approach develops a theory based upon the
understanding of the collected data, whereas a deductive approach analyses an
already existing theory and attempts to test and revise this with further research,
usually in the form of quantitative data (Bryman and Bell, 2007). This study will
adopt a deductive approach, exploring theories and concepts with the use of data
collection to further develop these hypotheses. Ideally, a more inductive approach
would be desired but due to limitation factors such as time and resources, a
deductive approach has been undertaken.
There are two contrasting viewpoints regarding research philosophy; positivism and
interpretivism. The positivism view adopts a ‘philosophical stance of the natural
scientist’ using tools and methods attributed to the school of natural science
(Saunders et al, 2007). Existing theory will usually be examined to develop
hypotheses, tested by conducting the use of quantitative, and sometimes qualitative,
with factual research resulting in law like generalisations (Bryman and Bell, 2007).
This study aims to look at ways in which car manufacturers communicate with the
market and consumers and the ways in which they attempt to increase brand
reputation amongst society, hence this study adopting a positivism approach using
both quantitative and qualitative data, exploring existing theory.
Interpretivism is the opposing view to positivism of research philosophy. This is the
belief in which the researcher must understand human behaviour and how it differs
between people. Saunders et al (2009) observe that interpretivism is used as
‘business and management is far too complex to be theorised by definite laws in the
same way physical science is’. This philosophy focuses more on human behaviour,
specifically feelings and emotions (Bryman and Bell, 2007). Business situations are
often seen as complex and unique, with individuals coming together with specific
circumstances leading to many believing interpretivism is the most appropriate way
to approach fields such as organisational behaviour and human resource
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18. management (Saunders et al, 2007).
3.3 Strategy and Design
The purpose of the research design, as stated by Robson (2002), is to ‘turn the
research question into a research project’ (Saunders et al, 2007). Using a case study
approach, the focus will be on niche luxury car manufacturers, mainly premium
sports car manufacturers and more specifically, Ferrari, and the way in which these
organisations convey a strong brand reputation to current customers, potential
customers, and also the market as a whole. Questionnaires containing both
qualitative and quantitative questions will be used to make sure the feedback is the
information which is desired to complete the project.
3.4 Data Collection
3.4.1 Primary Research
Primary research is the collection of data which doesn’t already exist, gathered in a
tailored way to the user’s requirements, to answer a specific research question
(Saunders et al, 2007). This can be through means such as direct observation,
measurement, interviews, questionnaires or other sources (Cameron, 2002). A great
benefit to this is the user knowing exactly how the data was collected and having an
understanding of its downfalls. The disadvantages to this method of data collection
include the cost and the difficulty in conducting the research. It can be much
cheaper and more efficient to use data which has already been conducted, as well as
providing a greater quantity of information as there is no guarantee the research will
provide enough data to come to an adequate conclusion.
Primary research will be used to gain an insight into the perceived beliefs the public
have of Ferrari and other such luxury car manufacturers. This will provide an
outline of what perceptions consumers have of these organisations and the brand
reputation they hold amongst the market place and the reasoning behind this. The
research will allow an insight into what techniques make certain organisations more
successful than others and what factors help the company stand out from
competitors.
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19. 3.4.2 Quantitative Vs. Qualitative
There are two forms of data collection as analysed by Bryman and Bell (2007); a
quantitative and qualitative approach. The quantitative form is focused on numerical
data which is ‘evaluated against theory’ (Vaus, 2002). This data is often collected
in the form of questionnaires with results usually presented as statistics in graphs,
usually the chosen method used when a deductive approach is adopted (Saunders et
al, 2007). In contrast, qualitative data comes in the form non-numerical, word
based results, composed through methods such as interviews (Bryman and Bell,
2007). This information can also refer to other types of data such as pictures and
videos, or in the case of this project, advertisements.
3.4.3 Questionnaires
Questionnaires were chosen to gain an insight into what beliefs and perceptions are
held of premium car manufacturers amongst participants (Appendix 1). Bryman and
Bell (2007) identified two different types of surveys – structured and unstructured.
Structured questionnaires only allow respondents to give direct, clear and consistent
answers rather than open ended responses due to the prearranged questions,
allowing patterns and trends to be recognised as closed end questions allow greater
comparability. Unstructured questionnaires allow multiple and unrestricted answers,
giving the respondent total freedom to their answers, making them feel more
comfortable within their responses. This also means that follow up questions can be
asked and a strict set of questions don’t have to be followed if an unexpected issue
arises (Bryman and Bell, 2007). However, the literature also states that this can have
a negative impact on the research, as participants tend to have a lack of focus and
will provide either incomplete or inaccurate data.
The questionnaire will incorporate both closed and open ended questions, taking on
a quantitative and qualitative approach, as this will enable honest responses from
participants. Questionnaires were viewed as the most suitable data collection
method due to the ease of conducting them and in gaining answers from
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20. respondents. This was seen as the most ideal method as opposed to alternative
techniques such as interviews or focus groups, due to these being seen as the most
ideal method to gain quantitative and qualitative data and also the widespread
presence amongst researchers and theorists. Interviews were thoroughly considered
as an alternative, due to results being obtained immediately rather than waiting for
the return of questionnaires. However, it has been found that interviews can have
negative impacts attached such as the reliability of the results. Participants can often
feel pressurised when being interviewed and may prefer to answer questions at their
own leisure and pace (Saunders et al, 2007), therefore reducing the possibility of
biased results.
3.5 Limitations
All research comes with its own limitations which can have an effect on the finding
and overall conclusion of the project, with this project being no different.
3.6 Sample Size
Due to time, cost and access constraints, only a minor sample of a wider scale could
be taken into account. The sample size chosen was 60 respondents, however, only
44 responded with results. This small sample is a representative of a much larger
market place for the organisations examined and it will not represent the market
place as a whole, nevertheless, it can still allow for a thorough and descriptive
conclusion to be found in correlation to the wider market. It will still be able to
represent an understanding of how car manufacturers communicate with the market
they trade in and provide qualitative answers, not just facts and statistics.
Furthermore, as the organisations are niche producing companies, it is not realistic
to find buyers of the brands specifically and also due to the fact that the research
aims are to investigate brand reputation amongst consumers, it is not necessary to
examine just customers.
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21. 3.7 Accuracy and Reliability
Two significantly important limitations, ‘accuracy and reliability’ may have
considerable negative impacts on the results. Cameron (2002) raises the point that
measures need to be accurate enough that an observer gains the same results if taken
again, and a second observer can also achieve these results (Bryman and Bell,
2007). It has also been found that the issue of biased results can be a problem.
However, by letting participants complete the questionnaire in their own time, the
chance of biased answers is dramatically reduced.
Saunders et al (2007) put across that reliability is ‘whether or not alternative
methods would provide similar findings. One positive to the results is the high
completion rate of the questionnaires, enhancing the reliability of the study. Several
closed and open ended questions were included to ensure the data could be
thoroughly interpreted and a relationship could be discovered between results.
Before taking part, respondents were informed that results would be kept
confidential and anonymous as to provide honest and unbiased answers.
3.8 Validity
The research must be valid and must measure what it has set out to do. There could
be several purposes for the collection of data but it must be relevant to what
information is needed, including the extensive use of journals and academic
textbooks to increase the validity of not only the data collection methods, but also
the results. Cameron (2002) points out that certain ‘measures’ can lead to
manipulation of data as there are ‘factors’ rather than providing definite answers.
Research must be conducted consistently, retaining the same method throughout, as
meaningful and accurate comparisons can be made. It is not possible to compare
data from different end users if the data is obtained through the use of various
methods.
3.9 Time
With only 6 months to carry out the research project, time constraints will have an
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22. impact on data collection. A larger sample scale would provide more thorough and
reliable results, allowing for a deeper analysis. Questionnaires have been seen to
generate results in a shorter time scale than alternative methods (Saunders et al,
2007), hence the reason for choosing this technique.
3.10 Access
When conducting any type of research, access to data must be taken into account. It
may not always be possible to gain access to data which is needed, especially if the
data is from specific organisations. Not all companies provide information which is
required, often global organisations who may not have the time, or may not want to.
This can also be said when trying to contact a company by email or phone. Also,
articles sometimes require payment or subscriptions to be viewed, but this has been
largely been overcome through the use of the Brunel University Electronic
Gateway. Due to this reasoning, certain company information is not essential to the
project, but the information which is required can often be accessed easily,
preventing any problems regarding access.
3.11 Ethical Issues
When conducting research related to individuals, it is especially important to take
into account ethical issues and adhering to the Data Protection Act 1998. Saunders
et al (2007) describe that the correct behaviour must be taken in relation to the rights
of subjects involved in the research project. As found by Cooper and Schindler
(2008), ethics are the ‘norms of behaviour that guide moral choices in relationships
with others’. As the study involved voluntary participants, it is very important to
take into account the ethical rules; veracity, privacy, confidentiality and fidelity.
These were all found in the Brunel Business School ethical procedures and were
followed very closely.
In order to achieve this, all participants were allowed to query the researcher
regarding the project as contact details were made available in the questionnaires.
Respondents were informed on the purpose of the project and it was briefed that
they were allowed to withdraw at any point, in order to gain consent (Robson,
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23. 2002). Participants were advised that all questionnaires would be kept confidential
and would only be required for the course of the project, being securely kept and
discarded at the completion of the study. Additionally, no private or confidential
information was required from participants as the study did not require this,
therefore all questionnaires were anonymous. After familiarising participants the
ethical issues, a consent form was signed by each individual who took part in the
study, before completion of the questionnaire.
3.12 Summary
This chapter highlighted the research methodology required in order to complete the
project. It described what research philosophy approach is to be used and the type of
research needed. The data collection methods were justified, reasoning why
questionnaires had been chosen over alternative techniques. Additionally,
limitations to the methods were also explained and what impact these could possibly
have, such as time and reliability. Furthermore, the chapter detailed the ethical
concerns faced regarding the research and what practices have been taken to counter
such issues.
Chapter 4 - Results, Findings and Analysis
4.1 Introduction
The findings and results from the questionnaires will be presented in this chapter.
Using statistical charts and graphs, the findings will be analysed and discussed in
relation to theory and hypotheses found in chapter 2. It will discuss the participants
that voluntarily took part, before presenting the results. The chapter will also discuss
and relate the findings to theory and hypotheses found in the literature review,
concluding with a summary on the subject of the perceived brand reputation
amongst consumers regarding premium car manufacturers.
4.2 Sample of Participants
The questionnaire was completed by 44 respondents out of a possible 60 people
asked to take part. The quantitative questions were answered by all respondents;
however, two qualitative questions were left incomplete by a small proportion of
0705468 Page 23
24. participants. Only 2 respondents chose not to provide an answer but this had very
little impact on the project results overall. The majority of participants were based
in the Uxbridge, West London area, with a small minority based in Surrey and East
London. However, this was not viewed as having a major impact on results as this
factor, along with age, race, sex and income, was irrelevant to the purpose of the
project.
4.3 Brand Logo Recognisability
Results from the questionnaire showed that the most recognisable brand logo from
the manufacturers in question was Ferrari, with 40 respondents correctly identifying
the Cavallino Rampante (prancing horse) logo. The results suggest a very strong
recognition and awareness of the Ferrari brand amongst the participants. Porsche
and Rolls Royce both had the second and third most familiar logo amongst those
who took part in the questionnaire. There were several manufacturers who did not
perform very well, specifically Pagani and Koenigsegg with only two of the
participants correctly identifying the Pagani logo and three recognising
Koenigsegg’s logo. The findings suggest that although the majority of
manufacturers received the same responses regarding their logo, there is a clear
leader within the premium niche car market.
As suggested by Doyle and Bottomly (2004), luxury product producing companies
often have a superior logo to competitors if the use of italic font is present, which in
the case of Ferrari, is supported by the research findings. Nine of the manufacturers,
0705468 Page 24
25. with the only exception being Ferrari, adopted a ‘bold’ font approach, with all these
companies receiving significantly less positive feedback than Ferrari. The results
back up the viewpoint of Lencastre and Beirao (2004), who found that the use of
font can have a great impact on the view adopted by consumers regarding the logo.
Italics were suggested to represent a company focused on quality and luxury, with
Ferrari incorporating this theory into their logo.
Zaichkowsky (2010) put across the view that a ‘box-like’ font represents reliability,
with Ferrari’s other logo featuring. However, it can be argued that Ferrari has an
advantage over computers as its features two contrasting logos; one with the slogan
‘S.F’ written in italics and one with the Ferrari name written in a bold approach. In
this sense, Ferrari can achieve more than one desired viewpoint from consumers,
whereas, the remainder of the manufacturers have only adopted one logo.
The outcomes of the questionnaire support the theory that ‘the less colours included,
the greater the impact’ of the logo (Zaichkowsky, 2010). Ferrari contains two very
contrasting colours, yellow and black, which can appear to be very striking, and the
results clearly represent this as Ferrari achieved the most recognisable logo.
However, the findings challenge this theory as the second most recognisable logo
was Porsche, which features three different colours and several different shades,
whereas logos from manufacturers featuring only one colour, such as Bugatti and
Aston Martin, scored poorly in the questionnaire. It can be concluded that colours
may not have as much of an impact as academic literature has suggested.
It was put across by Zaichkowsky (2010) that a logo must be distinct in the market
place as to differentiate it from competitors. However, the questionnaire featured
many manufacture logos which appear to be very similar, but illustrate very
different outcomes. Although Ferrari was the most recognised logo, it can be
viewed as very similar to the Lamborghini and Porsche logo, which received
significantly lower results. On the other hand, Aston Martin and Bentley feature
very similar logos and both received very similar results. Therefore, it appears a
definite conclusion cannot be made due to a lack of correlation between logo
uniqueness and the familiarity of the logo.
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26. 4.4 Importance of Factors
Participants were questioned regarding the most important factors they would
consider if they were to buy a premium limited production car. The results show
that the most popular factor amongst respondents was ‘looks/style’ and ‘luxury’
(Figure 2.), with all participants placing these options within their ‘top 5 most
important factors’. The majority chose ‘looks/style’ as their leading factor, followed
by a significant number who chose it as their second most desired factor. Although
‘luxury’ was chosen by all participants, it wasn’t ranked as highly and important as
‘looks/style’ with most choosing it as their fourth most significant factor, but they
could all agree that is was a vital factor.
Figure 2. Importance of Factors in Choosing a Premium Niche Car
Times Chosen in Top 5 Most Important Factors
1
st
2
nd
3
rd
4
th
5
th
Exclusitivity 3 5 14 2 2 26 59%
Status 8 16 5 4 4 37 84%
Speed/Power 4 5 8 6 4 27 61%
Workmanship 0 0 0 4 2 6 14%
Heritage/History 0 0 0 0 16 16 36%
Technology 0 0 0 0 2 2 5%
Looks/Style 29 10 5 0 0 44 100%
Luxury 0 6 10 24 4 44 100%
Handling 0 2 2 4 6 14 32%
C02 Emissions 0 0 0 0 4 4 9%
Factor
Times chosen
by respondents
Percentage of
respondents choosing
the factor
‘Status’ was seen as the third most popular factor, chosen by 84% of those
questioned and predominantly as the most chosen ‘second most important factor’.
‘Speed/Power’ and ‘exclusivity’ were also popular choices amongst participants,
being chosen by 61% and 59% respectively. ‘Speed/Power’ was chosen by 27
respondents but was not chosen in any predominant order, being spread across the
‘top 5 factors’.
Figure 2 shows that participants thought ‘technology’ and ‘CO2 emissions’ were the
least important factors when choosing a premium limited production car. Also,
when these factors were chosen, they were only placed in the ‘5th
most important’
position. Even though these were not picked by many, the results show that there is
an interest in these areas to an extent. ‘Workmanship’ was also seen as a ‘low
0705468 Page 26
27. importance’ factor with only 14% of the participants considering this an important
feature.
As stated in the literature review, it was believed that the 3 most important factors
regarding brand differentiation within niche markets were the name and status,
followed by price and then physical appearance (Dawar and Philip, 1994).
However, the results contradict this view, suggesting ‘looks/style’ as the most
important factor. It can also be said that luxury is vitally as important, although this
would only be more important in regards to products such as cars rather than other
less luxurious products.
A theory can be made based upon the results that when considering luxury cars,
there is certain aspects a manufacturer must take into account. To be the leader of
the market, the products must have the appearance and luxury that consumer’s
desire.
However, the results show that these two factors alone will not create brand
recognisability; the status is just as an important factor. The results show that when
considering luxury products, it is not considerably important to consumers what the
product can do, but rather what it can bring the consumer them self, and in this case,
the social prestige the company can bestow upon the product user (Escalas and
Bettman, 2003). This view is backed up by Eastman et al (1999) in which a great
majority of luxury products are purchased for the status it can bring to the
consumer.
The results also suggest that the majority of participants fall under the parvenus
consumer type. ‘Handling’ and ‘heritage/history’ scored relatively low on the
questionnaire, suggesting the respondents in question crave the status that luxury
products can bring and will therefore, be more familiar with a brand that meets the
needs and wants of consumers.
Surprisingly, ‘technology’ fared poorly in the questionnaire, suggesting how little
importance this factor, along with C02 emission, is to current consumers. However,
this should be taken lightly as the manufacturers in question do not necessarily
0705468 Page 27
28. aspire to include the latest technology or fully acknowledge C02 emission due to the
majority producing high-end sports cars. Common knowledge suggests that
consumers interested in C02 emissions, would tend not to purchase a luxury
premium car anyway, suggesting the results regarding this factor may have little
meaning.
When analysing these results, it can be said that an organisation which possess the
‘most important’ factors, should also attain a great sense of familiarity. If consumers
perceive a company to attain to their wants and needs, they will in turn rate the
company above competition, therefore recognising the company in the future. If a
company’s main attributes are ‘less important’ factors such as ‘technology’ and
‘C02 emission’, there is a high chance the company will not be acknowledged by the
company.
4.5 Brand Familiarity and Medium
The questionnaire aimed to find out which were the more familiar and recognised
brands amongst participants, with all the respondents identifying at least 5 of the
companies in question (Figure 3.). The lesser known manufacturers were also the
same companies that scored very low in familiarity of brand logos. The results show
a dramatic contrast between the well-known organisations and unfamiliar
organisations. It can be said that if a company is well recognised, it is known to
almost all participants, whereas if a company is not well known, the view is shared
amongst the majority of respondents.
0705468 Page 28
29. Figure 4 shows that all 44 participants had recognised some sort of marketing
technique used by Ferrari, again making the organisation appear to be the most
acknowledged company amongst the choice. There is a mixture of results gathered
from this question, with no clear correlation to the familiarity of the manufacturer
and recognised marketing techniques. Although Aston Martin, Rolls Royce,
Lamborghini and Porsche were recognised by all participants, not all respondents
could provide a clear indication when they have last encountered the brand.
Regarding the less known manufacturers, all those who were familiar with the brand
were able to describe marketing or publicity techniques used by the company.
As the final question was open-ended and qualitative, the answers were categorised
into what was seen as the most appropriate group, ranging from ‘TV’ to ‘track
day/car festivals’ (Figure 5.). ‘TV’ was seen as the most popular answer among
respondents, with 25% of the responses as the most widely seen used medium by
manufacturers. ‘Computer games’ were seen as the second most common answer,
with ‘printed media’ gaining 16% of the total answers. ‘Track day/car festivals’ was
not a very popular answer, with only 6% of the total responses. Appendix 2 shows
the breakdown of each car manufacturer and each associated medium.
Ferrari was again a strong figure in the questionnaire, chosen significantly within
each category, with Porsche proven to have very similar results. Lamborghini and
Aston Martin generated responses within each category showing the outreach the
0705468 Page 29
30. companies currently have. However, Pagani, Bugatti and Koenigsegg were shown
to have a small and narrow range of mediums, with the majority of answers
categorised as ‘TV’ and ‘Computer games’.
It was suggested in the literature review that TV and computer games are being used
more by organisations, specifically car manufacturers (Mackay et al, 2009). The
results emphasize this point; however, the results show that computer games are
having a much greater influence than literature would state. As it was the second
most popular medium chosen, it can be assumed that this is already a major
technique with regards to increasing brand familiarity. With the exception of Roll
Royce, ‘computer games’ is seen as almost as popular as ‘TV’ as a positive method
for car manufacturers.
It is surprising to see printed media scoring very high with the majority of
manufacturers, especially as the literature found that this marketing technique is
sharply decreasing (Halliday, 1998), suggesting this type of technique is still a
significant factor in familiarising consumers with brands.
Surprisingly, ‘track days/car festivals’ scored more positive results than films,
contradicting what was found in the literature review (Delorme and Reid, 1999).
This suggests that a number of participants are interested in the cars themselves
rather than the status they can bring; suggesting these respondents fall under the
patrician group.
It should also be noted that the vast majority of results regarding the ‘merchandise’
and ‘sport’ category were for Ferrari. If Ferrari was not included in the
questionnaire, these results would score very poorly, suggesting that this medium is
not very beneficial to other companies. This theory can also be applied to the ‘film’
category, with the more common answers falling under Aston Martin. It can be
concluded that mediums can be very specific to certain companies, rather than
having a positive effect on many other manufacturers.
‘Merchandise’ has been found to be a very popular method for manufacturers as
seen by the results. However, it is only Ferrari and Porsche to have an impact within
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31. this area, suggesting this may be an ‘untouched’ market for competitors. It does
propose however, that this is a noteworthy technique in creating brand recognition
and familiarity.
It can be noticed that there is a clear positive correlation between ‘brand familiarity’
and ‘brand mediums’, with the highly recognised companies benefitting from a
wider range of mediums. Ferrari scored a higher percentage of positive results
compared to the other brands in regards to mediums used (appendix ), with the
exception of ‘film’ and ‘computer games’. Aston Martin scored higher on both these
factors, which can suggest different types of medium can have different effects on
manufacturers. Although no technique cannot be seen as more important or
significant than others, it does appear that the more techniques used by
manufacturers, the more chance that there will be a positive impact on the
familiarity of the brand.
A general theory regarding brand recognisability and medium cannot be conducted;
however, Jun et al (2003) suggested that luxury and premium car manufacturers
have the same target audience. It is this theory backed up by the results found from
the questionnaire that suggest the success of a medium cannot be generalised to all
companies, but rather how effective each one can be for a specific company. The
lower scoring manufacturers regarding brand recognisability, also scored lowly on
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32. ‘mediums used’, adding weight to the argument that different types of medium will
have a positive effect on the brand familiarity, however, the medium chosen will
depend on the company.
Chapter 5 – Conclusion
5. 1 Summary of Findings
It has been found from the results, that Ferrari has the most recognised brand name,
along with the most familiar logo. However, a pure conclusion regarding this cannot
be made in comparison to the other manufacturers in question. It was found that
several factors can have an influence on brand familiarity, specifically what
consumer’s look for within a product and also the mediums used by organisations to
portray themselves to consumers.
Additionally, it can be inferred that luxury car producing manufacturers do not place
the same reliance on one general type of medium, with each manufacturer placing a
significant focus on several types without disregarding alternatives.
The project aimed to investigate brand recognisability and familiarity within the
luxury and premium car market and has achieved the aim and objectives outlined in
Chapter 1. The report combined a literature review and a questionnaire which
provided a number of conclusions regarding not only the techniques used by
organisations, but also how effective they are at creating brand familiarity.
5.2 Recommendations
To improve on the research product, further studies may need to address certain
aspects which could have hindered the overall conclusion. For example, for more
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33. reliable results a greater sample should be used across a wider geographic area. It
was found in the literature review that cultures can have an effect within the
business world. By taking this into account, a more thorough conclusion could be
adapted.
Additionally, the research found many types of mediums to be used by
organisations to create brand familiarity. A greater evaluation of these methods is
recommended, with an insight to each specific form as this could provide a clearer
explanation as to why particular methods work more effectively for some
manufacturers than others.
With all research conducted, there is always numerous ways to improve with the use
of further study. In the case of this project, it is recommending that the limitations
found in Chapter 3 are taking into account and should be addressed when
conducting further research.
0705468 Page 33
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39. Appendices
Appendix 1
Questionnaire
I would be extremely grateful if you could answer the following questions as full and thorough as
you can. If you have any queries regarding the questionnaire, please feel free to contact me o the
phone number that was provided. Thank you.
Question 1
The following is a list of brand logos with the name of the organisation edited out. Can you identify
each brand logo?
a)............................ b)........................ c).......................
d).............................. e)........................ f)............................
g)........................ h)....................... i).......................
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40. Question 2
From the following factors, please choose the 5 most important factors (with 1 being the most
important), if you were to purchase a luxury and premium car.
A ) Exclusivity (rarity of the car)....................................................................................
B) Status (the image it brings the owner).........................................................................
C) Speed/Power..............................................................................................................
D) Workmanship (the quality of the product)...............................................................
E) Heritage/History (The historical value of the company)..........................................
F) Technology (such as sat nav)......................................................................................
G) Looks/Style................................................................................................................
H) Luxury.......................................................................................................................
I) Handling......................................................................................................................
J) CO2 Emissions............................................................................................................
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41. Question 3
Have you heard of the following companies? If yes, where have you seen or heard of the
organisations before? Please put a yes or no next to each manufacturer with a list of what mediums
of which made you familiar with the company.
A) Aston Martin
..................................................................................................................................................................
.................................................................................................................................................................
B) Rolls Royce
..................................................................................................................................................................
..................................................................................................................................................................
C) Bentley
..................................................................................................................................................................
..................................................................................................................................................................
D) Pagani
..................................................................................................................................................................
..................................................................................................................................................................
E) Lamborghini
..................................................................................................................................................................
..................................................................................................................................................................
F) Ferrari
..................................................................................................................................................................
..................................................................................................................................................................
G) Maserati
..................................................................................................................................................................
0705468 Page 41
