Retail brands and their value offerings in the UK high street: What’s more important in generating loyalty amongst their customer base? (2006) Ref: market0008 22,000 words – 100 pages in length Excellent use of literature and models In-depth analysis Outstanding piece of work The following report is an in-depth study and analysis assessing the loyalty demonstrated by 200 shoppers on UK high streets towards their most frequented clothes retailer. I decided to use most frequented retailer to uncover what made shoppers keep coming back to a particular store. The research was based around a conceptual model put forward in Grewal, Levy and Lehmann’s article ‘Retail Branding and Customer Loyalty: an overview’ (2004). Their model was based around the fact that store image and perceived value shape the loyalty of shoppers and what acts of loyalty they perform. Therefore my research was undertaken to reveal the effect that both the brand image of the store and the perceived value play in shaping customer loyalty and in turn customer equity. The research was undertaken on Oxford Street, London, where 200 respondents were interviewed using a mall intercept technique and asked to give their views to the brand and value questions posed to them and how they rated their overall loyalty. After analysing the data some interesting results were thrown up as there was weak correlation between the value and brand variables measured and loyalty. This may have be for 2 reasons; firstly the hedonistic motivations of the shoppers and secondly because shoppers may have a portfolio of stores where they buy from. However, when loyalty intentions were present, it was product quality and consequently value, that had the strongest correlation and the respondents were also more likely to speak positively about the retailer than any other form of loyalty, as this regression model had the best fit. Brands did play a part but only if the brand was perceived as weak and was there any chance of increasing loyalty through increasing brand strength. Recommendations were made to focus on the aesthetic side of quality for retailers citing the difference in fortunes between retailers M&S and New Look. I further used Keller’s model of building brand equity to help retailers with a weak brand equity and I used the strategic roles of the servciescape as a means of attracting customers into stores if no loyalty was present and increasing the experiential value in the hope they’ll shop their again. Chapter 1: Abstract Chapter 2: Introduction Chapter 3: Review of Literature Importance of Brand Equity Importance of Value Equity Importance of Retention Equity Impact of Services Impact of retailers brand equity and perceived value Impact of Brands to retailers Impact of retailers perceived value Shift from Brands to Value Chapter 4: Hypothesis Chapter 5: Methodology Primary Research Mall-Intercept Technique Operational Procedure Sampling The questionnaire Pre-Test Chapter 6: Data Analysis Techniques Chapter 7: Display of Results Satisfaction Word of mouth recommendations Word Of mouth speaking positively Intentions: Willingness to pay a price premium Chapter 8: Findings and Implications Quality recommendations and implications for retailers Brand recommendations and implications for retailers Loyalty Recommendations and implications for retailers Chapter 9: Conclusion Appendix A: Questionnaire Appendix B Regression Analysis B.1: Satisfaction B.2: Word of mouth recommendations B.3: Word of mouth speaking positively B.4: Intentions B.5: Willingness to pay a price premium Appendix C: Descriptive Statistics Bibliography and Appendices Tables: Fashion Consciousness factor analysis Dressing Style reliability analysis Dressing Style reliability analysis in Full Price Consciousness factor analysis Price information search reliability analysis Proneness to shop for special offers reliability analysis Convenience factor analysis Convenience reliability analysis part 1 Convenience reliability analysis part 2 Store image price factor analysis Store Image product quality factor analysis Store Image product quality reliability analysis Brand Image factor analysis Service quality factor analysis Product quality factor analysis Word of Mouth Factor analysis Intentions reliability analysis Correlation Coefficients Satisfaction Model Summary Word Of mouth recommend model summary Word of Mouth recommend ANOVA Word of Mouth speak positive model summary Word of Mouth Speak positive ANOVA Significance of variables in WOM speak positive model Intentions model summary Willingness to pay price premium model summary Relationship between demographics and loyalty Figures: Store Image-Value-Loyalty: Drivers of Customer equity Behavioural and financial consequences of service quality Satisfaction Links to loyalty Antecedents of service quality Impact of SERVQUAL and service value on satisfaction Store Image-Value-Loyalty Wheel of retailing Concept of the Big Middle Store Image-Value-Loyalty Components of perceived quality Store Image-Value-Loyalty Graph of respondents ratings of satisfaction Relationship between price premium and value for money Relationship of employee service and likelihood of speaking positive Levels of fashion consciousness M&S 5 year profit performance Wheel of retailing New Look 5 year profit performance Strength of brand and positive speaking Effects of brand consciousness and word of mouth intentions Keller’s customer based brand equity pyramid Customer Activity Cycle 
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