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Exploring Branding Options for a Family-based Luxury Retailer.

Deemant Himmat Lodhia

Submitted in part fulfilment of the Degree of MBA in Retailing of

The University of Stirling, Scotland.

(October 2010)

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Acknowledgments

I am extremely grateful to my tutor, Marcus Thompson, who has always been quick

to respond, supportive and constructive with his guidance – thank you.

I would also like to thank my family for their love, support and understanding

throughout my MBA degree.

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Declaration

PRINT NAME: DEEMANT HIMMAT LODHIA

1. This work has not previously been accepted in substance for any degree and is not

being concurrently submitted for any other degree.

2. The dissertation is the result of my own independent work and investigation, except

where otherwise stated.

3. All verbatim extracts have been distinguished by quotation marks and the sources

of my information have been specifically acknowledged.

4. I am also submitting an electronic version of the dissertation and give my

permission for the Institute for Retail Studies to run this through a programme

which will check for plagiarism.

Signature: ……………Deemant H Lodhia…………………..

Date: …………………20th October 2010……………………..

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ABSTRACT

Family-businesses dominate the global economic landscape yet their life-spans are

relatively short. The aim of this research is to explore whether or not long-term

sustainability can be achieved in such businesses by using a branded long-term sustainable

family-business model. The model permeates through desk study and literature review,

and is confirmed to a certain extent by initial research amongst experienced luxury-based

retailers.

The distinctive features of marketing within a retail environment provide the necessary

background and highlight the central role of the brand in the exchange process as the

reservoir that holds the co-created value. The brand reflects everything the family-

business does into a single image but this is an external phenomena. The internal

processes that create this projection are discussed through a review of family-business

literature and the sustainable family business theoretical model (Danes SM, Loy JT and

Stafford K, 2008) emerges as the concept that encapsulates these internal processes.

This study presents a directional hypothesis stating an existence of a relationship between

branding and long-term sustainability of a family-business. The family-business-brand

identity leads to specific components of brand equity. The marketing of luxury-based

retailers gives focus to the study by providing the brand variables to examine. In order to

achieve the aim of this study, four research objectives were set and data was gathered via

in-depth interviews.

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The results principally confirm that branding contributes towards family-business

achievements, including functional integrity, human capital growth, financial soundness

and structural integrity. Branding stabilizes disruptions during times of change; it

enhances processes and transactions during times of stability leading to additional values.

The enhanced experiences may lead to more co-creation exchanges and a repeated value

cycle continuously adds to the brand leveraging the family-business to greater heights.

The business advisor examining growth prospects for a family business can use such a

model, to understand and enhance the family-business brand by building a stable and

secure value adding business for future generations.

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TABLE OF CONTENTS

Acknowledgements 2

Declaration 3

Abstract 4

Table of Contents 6

Chapter 1 : Introduction 9

1.1 Background 10

1.2 Research Objectives 12

1.3 Research Design 13

1.4 Research Structure 14

Chapter 2 : A Review of the Literature 15

2.1 Retail Marketing 16

2.1.1 Marketing a Family-Business 16

2.1.2 The Value Cycle 17

2.1.3 The Exchange Process 19

2.1.4 The Experience Environment 20

2.1.5 Brand Reflections 20

2.2 The Family-Business 21

2.2.1 Family-Business Studies 22

2.2.2 Family-Business Strategies 25

2.2.3 The Sustainable Family Business Theory 27

2.2.4 The Family-Business Brand 29

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2.3 The Brand 30

2.3.1 Brand Identity 32

2.3.2 Institutional Semiotics 34

2.3.3 Brand Equity 35

2.3.4 Luxury Branding 36

2.4 Leveraging the Family-Business Brand 37

2.5 The Branded Sustainable Family-Business Theory 39

2.6 Deriving the Research Objectives 40

Chapter 3 : Research Design and Methodology 42

3.1 Research Design 42

3.1.1 The Research Strategy 42

3.1.2 Defining Concepts and Variables 43

3.1.3 Measuring Concepts and Variables 44

3.2 Research Methodology 45

3.2.1 Background Context 45

3.2.2 In-Depth Interview Design 46

3.2.3 In-Depth Interview Procedures 51

3.2.4 Data Analysis 54

3.2.5 Limitations of the Research Methodology 55

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Chapter 4 : Results

4.1 Branding contributes towards family-business achievements 58

4.2 Branding stabilizes disruptions during times of change 59

4.3 Branding enhances processes during times of stability 60

4.4 Branding contributes to long-term family-business sustainability 61

4.5 Retail Marketing 63

4.6 Family-business 64

4.7 Leveraging the Brand 65

4.8 Luxury 66

4.9 Image 67

4.10 Other Comments 68

Chapter 5 : Conclusions 70

5.1 Summary of Key Findings 70

5.2 Comparison with Research Objectives and Literature 71

5.3 Implications for Academic Theory and Family-based Retailers 72

5.4 Future Research 74

5.5 Conclusion 75

Appendices

Appendix One – Pre-qualifying Letter 76

Appendix Two – Interview Details 77

Bibliography 84

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Chapter 1 : Introduction

Summary

The proposed dissertation will contribute to the study of family businesses to confirm

whether the family-business brand identity is an essential part of long-term family-business

sustainability.

The study examines retail marketing’s distinctive features in order to understand the

underlying rational exchange of value between the retailer and consumer. Retail marketing

helps communicate the presence, availability, nature and desirability of the values in the

retail environment. This over-arching and binding concept is reflected in the brand. The

branding framework is increasingly being used to understand how family businesses

market themselves and enable differentiation.

Family businesses have unique attributes that require an in-depth review of literature in

order to guide the alignment of the brand. The sustainable family business theoretical

model (Danes et al 2008) is applied to assist this study. The model is based on the general

theory of social systems and provides a structural overview of the various issues relating to

such firms. In order to accomplish family-business achievements and enable long-term

sustainability, the researcher proposes that the brand identity be linked with the sustainable

family business theoretical model thus enabling an investigation into the marketing

methods, marketing entry and marketing channels that will work for such businesses.

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1.1 Background

Retail family business and brands has been a long-term passionate subject of interest for

the researcher because of direct involvement in numerous family-activated ventures in

various retail and other non-retail businesses. Years of experience combined with the

primarily luxury-nature of the various enterprises sets the perfect premise for exploring

branding options for a family-based luxury retailer.

A holistic approach is needed in order to typify social situations with as much variable as possible including an examination of the historical conditions of development thus need to draw a path of past development considering all relevant variables to formulate prognoses on the future development within a specific corridor, thus a practically useful suggestion for the management of family firms for each situation (Kraus S, 2007).

More specifically, this study deals with cases of jewellery retail serving at the distribution

end, where small and unbranded companies predominate, with only a handful of branded

retailers (Macfarlane M et al 2003). This presents an expansion opportunity for the

unbranded or those retailers with limited branding.

Trading relations in such businesses remain very private and the management is

disconnected from wider public interests and consumer attitudes (ibid). The jewellery

industry tends to become polarised with intense competition within the ‘low-priced budget-

style’ retailers, while ‘upscale retailers’ distance themselves from this sector, by

emphasising quality, branding and service (Mintel 2001).

More intangible aspects of branding including provenance and guaranteed quality are

becoming more important as suppliers are increasingly driving retailers to collaborate in

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marketing initiatives (ibid). Jewellery marketing is not about pricing, it is more about

reputation, quality of stones and precious metals, workmanship, and the image, for

example, De Beers sells the ‘romance’ of diamonds (Westwood 2000).

The push for closer retailer-supplier relationships is clearer at the top-end of the market

where suppliers are placing more importance on branding, as more consumers are opting

for the prestige, design and image of branded goods in jewellery, for example, Cartier,

Gucci, Swarovski etcetera, (Mintel 2001). Branding tends to be linked to design,

innovation, quality and reputation (Macfarlane et al 2003). Reputation management has

become more complex but particularly for the upper-end of the markets, whilst the lower-

end such as the costume-jewellery sector appears to have significantly different dynamics

(Macfarlane et al 2003). A stable, transparent and communicative value relationship

between the retailer and customer is possible through a well-designed brand structure.

This research explores such a structure’s contribution to the success of a family-business

through specific objectives.

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1.2 Research Objectives

The research explores whether or not a family-based luxury retailer will benefit from

branding or some other degree of brand management. The study examines the links

between family-businesses, long-term sustainability and its brand identity. The research

objectives have been developed after thorough literature review, discussed in chapter two.

The research objectives are stated as;

Branding contributes towards family-business achievements;

Branding stabilizes disruptions during times of change;

Branding enhances processes and transactions during times of stability;

Branding contributes to long-term family-business sustainability.

It was useful to narrow the search specifically for variables of luxury brands without

compromising the more general branding variables. Luxury branding variables include

those identified by Keller (2006) as ten defining characteristics of luxury brands and the

six brand building feelings (Kahle LR, Poulos B and Sukhdial A, 1988). Other branding

variables are identified through the literature review and discussed in chapter three. These

are the presumed causes that presumably affect the dependent variables including financial,

structural, functional and other impacts primarily identified through the sustainable family-

business model. Contextual insight and conclusions will be drawn from the four objectives

stated above. Essentially a marketing strategy that contributes towards growth in a family-

owned luxury retail business emerges.

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1.3 Research Design

The research design is based on a strategy that seeks to understand the practical

complexities in retail business. Several methods were considered to capture data for

analysis; however given the specific nature of the research objectives and the relatively

under-researched studies linking branding to family-retail businesses, in-depth interviews

with experienced practitioners proved more informative. The research is primarily

descriptive in nature and endlessly seeks to answer why or why not the variables are

linked.

To guide my search in the answer to the question of why, a collection of assertions will be

developed to identify what variables are important for what reasons, how they are inter-

related and why, and identify the conditions under which they should be related or not

(Campbell, 1990). In order to test my assertions, theory must be matched with the

measures, measures with predictions, testing the theory based on its assumptions, and

grounding arguments based on those assumptions (Zahra & Sharma, 2004). Interpretive

analysis will help work out the meaning of what was said and implications for the

objectives of this research.

Methodologically, this research constitutes a qualitative and exploratory collated data

using desk research and semi-structured in-depth interviews. The literature review

provides the discussion framework for the interviews and encompasses various topics

discussed in relation to branding and family-business marketing strategies. The research

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will have value whatever the conclusions maybe. Further; the exploratory nature of the

study provides context and offers opportunity for future research.

1.4 Research Structure

Chapter one has provided an introduction to this paper. Chapter two presents insights into

the literature covering the more general concepts of retail marketing and describes how the

brand reflects internal processes of a family business. The literature review then looks at

specific elements of the brand and how these can be fine-tuned to leverage the family-

business into a better position. The research objectives are derived towards the end of the

literature review followed by chapter three that outlines the design and method of research

in for the objectives. The fourth chapter presents the results and analysis thematically.

Chapter five concludes this research with a summary of key findings together with a

comparison of the literature and results, then highlighting implications for academic theory

and family-business practice.

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Chapter 2 : Literature Review

The purpose of this chapter is to explore and draw conclusions from the existing literature

regarding the stated research objectives. The literature study helps to identify factors that

can contribute to long-term sustainable growth in a family-owned luxury retail business.

Long-term sustainability is the result of achievements of family and business goals

including structural integrity, functional integrity, human development and financial

soundness (Danes et al 2008).

The chapter therefore examines retail marketing, family business and branding literature.

These are further split into detailed segments outlining the various studies that provide the

concepts and variables that explains and predicts phenomena occurring in retail business

practice. As a result of the literature review, a hypothesis is developed that essentially

links family-business brand identity with long-term sustainability of the family business.

Retail marketing binds together various activities within a retail business, the family-

business literature exhibit the unique characteristics and issues involved in family-owned

enterprises and branding helps devise a method for leveraging the family-business brand

for long-term sustainability. The remainder of this chapter discusses, thematically, the

various theoretical perspectives of previous authors.

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2.1 Retail Marketing

The distinctive features of marketing within a retail environment are discussed in this

section in order to discover the points where value creation can occur in the value network

in which the transaction takes place. Underlying every business transaction is a rational

exchange of value occurring between the business and its customer, and it is the role of the

marketer to manage this exchange (Calderwood E, 2009).

Rational customers seek to maximise satisfaction from using goods, service and maybe

other symbolic values, thus the exchange is psychological, social, intangible and physical

in nature. The business needs to understand the customer, their characteristics, needs,

wants, values and perceptions. Based on its understanding, the business develops a set of

values through products, services and other retail offerings that represent a rational

exchangeable value in the mind of the customer thus creating the enabling environment for

an effective exchange (Calderwood E, 2009). Retail marketing helps communicate the

presence, availability, nature and desirability of the values created.

2.1.1 Marketing a Family-Business

Marketing a family-owned business requires a total business approach. A family-owned

jewellery retail business is a speciality goods and services retailer with a limited market

that requires consumer special effort to purchase (Holton 1958). The other types of goods

are convenience and shopping goods, all of which account for the desire to secure the good

and services; perception of cost, time, effort and price; but this view is considered too

broad and simplistic (Burt S, Davies K and Pretious Mike, 2009).

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Other schemes combine concepts of involvement and perception (ibid at p.11).

Involvement depends on the degree of familiarity and perceived risk associated with the

purchase and perceived product differences relates to the degree of similarity between

options in the customer’s mind. From the perceived set of alternatives available, the

customer chooses the offering that meets his or her set of buying criteria, that is, the

customer’s values (ibid at p.13).

The customer’s values can include physical or economic criteria, such as, price; durability;

speed of delivery; ease of access to products; and socio-psychological criteria such as:

compatibility with self-image; compatibility with reference groups; contribution to desired

lifestyle; compatibility with attitudes and beliefs (ibid). A purchasing decision is made

rated against the criteria and the experience gained affects future buying decisions. The

value cycle and exchange process is discussed next, followed by the experience

environment and then how the values and experiences are reflected in the brand image over

the long term.

2.1.2 The Value Cycle

The value cycle provides a link between the concept of marketing and marketing in

practice (Calderwood E, 2009). It is a four-stage cyclical process to help understand,

create, communicate and deliver values (ibid). Understanding the customer, their

characteristics, needs, wants, values and perceptions provides the basis to develop a set of

values, through our resources that the customer will want. This step was considered for

further research but is better suited to a more elaborate marketing plan for specific case

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studies and seemed beyond the ambit of this paper. The focus of the present study is on

creating, communicating and delivery of the values through the exchange process using an

identifiable brand that aspires to reflect what the customer wants while aligning the

internal aspects of the family-business. The value cycle is depicted in figure 1 below.

Figure 1. The Value Cycle (Teller C, 2008)

Value is created at the second stage through variations in the extended marketing mix i.e.

product, price, place, promotion, people, processes (the way in which a service is

performed) and the physical setting in which a product or service is consumed (the seven

Ps). “The retail mix is the composite of all effort which was programmed by management

and which embodies the adjustment of the retail store to its market environment”

(Calderwood C, 2008). These are the tools that design, develop and deliver values for the

exchange process.

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Communication (third stage) aims to develop a common perception of the business and its

products. Values are communicated through the use of media and public relations,

highlighting the factors that we have planned to capitalise on (ibid). At the fourth stage,

the values are delivered through the retail store and its various tangible and non-tangible

components. This is the point of exchange and maintaining core values through training

and development of a culture consistently applied is critical for successful delivery of

values, i.e. “the right goods [and services] in the right place at the right time in the right

quantity and the right quality” (ibid). Customer service during the exchange process

influences the purchasing experience of the customer and only the staff can ensure that the

incident is positive rather than negative.

2.1.3 The Exchange Process

This exchange interface takes place in a specific time and given space with the elements

outlined. C K Prahalad and Venkat Ramaswamy (2000) introduced the concept of co-

creation whereby the emphasis is on generation and ongoing realisation of mutual firm-

customer value. Customers are active and business engage to share, combine and renew

each other's resources and capabilities to create value through new forms of interaction,

service and learning mechanisms. Co-created value arises in the form of personalised,

unique experiences for the customer (value-in-use) and ongoing revenue, learning and

enhanced market performance drivers for the firm (loyalty, relationships, customer word of

mouth). Value is co-created with customers if and when a customer is able to personalize

his or her experience using a firm's product-service proposition (Prahalad CK and

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Ramaswamy V, 2004). The key to create customer values is to focus on total customer

experience (Berry L, 2001) taking place in the experience environment.

2.1.4 The Experience Environment

Businesses are continuously transforming to accommodate the emerging realities of our

time. In order to gain a deeper understanding of issues and identification of drivers within

the value chain and the key actors, to enable a better frame for the research questions,

Hughes (2001) advocates replacing ‘chain’ with ‘network’ to more explicitly capture the

complexity of actors and multi-stranded exchange relationships.

A new structure based around the centrality of the individual continuously engaged with

the experience network that is designed to accommodate variation in experiences while

reducing variation in the quality of the supply processes that are activated to co-construct

those experiences (Prahalad CK and Ramaswamy V, 2004). The experiential space

comprises an enhanced network including personalisation, integration, and innovation to

provide competitive advantages therefore new ways of competing on experiences can

continuously evolve for businesses (ibid). The value that is co-created during the

experience through the exchange process is reflected in the brand image.

2.1.5 Brand Reflections

Ideally, brands create differentiation in the mind of the consumers; however,

differentiation alone is not sufficient to create value for the brand, consumers must have a

positive attitude towards the brand and these should translate into behaviours (e.g., buying,

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using or talking about the brand; Keller 1993). Attitudes can be positive or negative based

on consumer’s experiences with the brand over time and brand knowledge (i.e. what

resides in the mind of the consumer) are the basis of the brand equity (Jones 2005; Keller

KL, 2008).

Branding is explicitly discussed in chapter 2.3; however, an important multi-faceted

experiential node in the experience environment or a link in the value network lies in the

reflections that a brand exhibits. This is the point where the customer is interacting with

the processes designed by the retailer and the value of this brand equity is a business’s

most defining asset.

Before addressing the theories that predict how brand equity is built, which is ultimately an

external projection or reflection; it is important to understand the retailer’s internal aspects

so that the external projection can be aligned with internal orientations. The family-

business is discussed next to provide unique insights on how to achieve long-term

sustainability in such businesses.

2.2 The Family-Business

Family businesses dominate the economic landscape of most major economies in the world

(Shankar et al., 1996; Klein, 2000; Heck et al., 2001; IFERA, 2003). However the lifespan

of family businesses are relatively short, as only some survive into the second generation,

and hardly one-third into the third (Beckhard et al., 1983; Neubauer et al., 1998; Shankar et

al., 1996; Paisner, 1999). In fact, management studies have paid little attention to family

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business’ unique theoretical and practical problems and are described as a “missing

variable” in organisational research (Dyer Jr, 2003). There is a critical need to improve

understanding of family businesses and to ensure they are managed effectively (Ibrahim et

al 2008).

2.2.1 Family-Business Studies

Classical family-business literature looks at issues of definition, succession, agency

problems, conflict management etcetera, however, more recent literature dwells in the

specifics by exploring the uniqueness of family businesses based on internal characteristics

that are valuable, rare, difficult to imitate and difficult to substitute (Botero IC and

Blomback A, 2010). Reputational capital is a unique characteristic that family firms can

leverage to obtain competitive advantage and brand management is the tool (ibid). The

branding framework is increasingly being used to understand how family businesses

market themselves and enable differentiation (Blomback & Ramirez-Pasillas, 2009; Craig,

Dibrell, & Davies, 2008, Litchfielld, 2008, Botero & Blomback, 2010).

Defining the family-business has proven to be problematic for researchers as there is no

universal definition of what a ‘family-business’ is. Family-businesses can be defined

along numerous dimensions including ownership, management, business succession,

family influence, power, experience, culture but definition is an open discussion and

development of objective methods for definition are still in its infancy (Chrisman et al.,

2003b). For the purpose of the present study we can adopt Westhead’s definition (1997)

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that the classification should be left to the judgment of the person who manages the

business.

Succession is a reappearing theme across studies as this a naturally occurring disruptive

phenomena that may create tensions in relationships. The succession process has been

revealed to be a multistage phenomenon with trigger events distinguishing stages (Murray,

2003). A comprehensive conceptual framework to understand the succession process in

family businesses taking into account contextual variables within the family, industry and

society has been developed by Le Breton-Miller, Miller, and Steier (2004). Competitive

advantages across generations require the transfer of the tacit embedded knowledge

(Cabrera-Suarez et al., 2001), networks and social capital (Steier, 2001), passion

(Andersson et al 2002), and innovative spirit (Litz & Kleysen, 2001).

Agency theory also appears popular in family-business research. Adam Smith (1796),

Berle and Means (1932), and Max Weber (1947) conceived agency theory and was

popularised in organisational studies by Jensen and Meckling (1976) and is based on the

idea that separation of ownership and management leads to a principal-agent relationship

whereby the agent may not make decisions in the best interest of the principal. When

management and ownership are combined in family-business, individual family members

engage in altruistic behaviours for the collective good of the whole family thereby

alleviating the agency problems (Jensen & Meckling, 1976). Low free-rider agency costs

places the family business in an ideal position to generate resources required for long term

investments (Anderson and Reed, 2003).

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Several other areas of research into family businesses include performance (economic),

psychological ownership, business succession (Brockhaus, 2004), entrepreneurship or

innovation, culture, goals or strategy formulation, internationalisation, and

professionalization etcetera. Danes et al (2008) examine the effects of ethnicity and

culture in order to understand the complex and interdependent relationships between

family businesses and the community context in which the firm operates.

Family businesses are essentially group level phenomena because of their dependence on

group resources (Fratoe 1986), hence group values, such as, collectivism, duty and loyalty

influence operations (Enz et al 1990). The family is a conduit of culture and core cultural

values (Landau 2007). Another study has linked governance, long term orientations and

sustainable capability (Le Breton-Miller and Miller 2006) and argues that certain unique

governance conditions make some family businesses especially apt to invest for the long-

term thus helping create inimitable capabilities that sustain competitive advantage (Miller

2003). However, long-term investments risk becoming irrelevant in a rapidly changing

market place and by itself does not assure success (Henderson, Miller and Hambrick

2006).

Some important characteristics of the world’s oldest family businesses include relatively

small scale, stable niche markets evolved through well defined systems of governance that

regulate ownership and roles with the business and family (Blondel and Van der Haden

1999). These have an ability to renew and modernise their business and have achieved

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smooth and effective succession and have a sense of their own history and built up a

specialist family and traditions (Rosa 2006).

2.2.2 Family-Business Strategies

Family businesses have particular attributes that provide them certain competitive

advantages (Porter 1990). Studies have shown that good planning is a key to the success

of family businesses (Aram and Cowen 1990; Frishkoff 1994) and is a major contributor to

profitability (Knight 1993). Instinctive management methods must give way to the

business approach, “an approach based on planning and controlled growth through the use

of strategic management techniques” (Leach and Bogod 1999).

Competitive advantage can assume multiple forms (Craig et al 2008). Porter (1980)

articulated two primary forms emphasizing either low-cost or differentiation.

Differentiation rather than low-cost strategies are more applicable to small business

(Moores and Mula 2000). There are many points of differentiation that a business can

build on, including brand, customer service, product innovation etcetera (Pelham 2000) but

it is primarily through proprietary features (eg. customer service) that small firms generate

growth consistent with high margin potential (Kotey and Meredith 1997). An emphasis on

one or more differentiating sources of competitive advantage is a necessary and direct

antecedent of performance and is enhanced through appropriate orientation (Porter 1980).

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In deciding whether to emphasize between customer-centric or product centric strategies,

businesses must decide whether buyers are more responsive to intangible factors such as

reputation, image, and trust, or to tangible product attributes (Craig et al 2008).

A case study of a second generation family business involved in land development and

construction, adopt a strategy to embed the founder’s legacy and introduce professional

governance initiatives, thereby conducting a situation and needs analysis, establishment of

a family council, draft a family constitution through an intense review process thus

improving communication and harmony (Craig and Moores 2002, 2004). The study

revealed that some combination of direct (such as shifts in buyer’s attitudes and

preferences) and indirect effects (such as the family brand) affected firm performance.

The customer-relationship resource advantage requires the business to build a reputation in

the marketplace related to customers’ positive perception of the family and trust is often a

key value (Fukuyama 1996). Reputational attributes may play an important role over

functional attributes such as; size and market share, and the customer associates the brand

identity with virtuous qualities thereby contributing to loyalty (Miller and Le Breton-Miller

2003). The real long term benefit lies in the perception that the family is committed to

being customer-centric in its market orientation (Craig et al 2008). Effective

communication and transmission of values to customers directly affects their purchasing

behaviour (Craig et al 2008).

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2.2.3 The Sustainable Family Business Theory

The sustainable family business theoretical (SFBT) model is designed to assist studying

family business owners and making cross cultural comparisons (Danes et al 2008). It is

based on the general theory of social systems and provides a structural overview of the

numerous variables involved. Figure 2 is a visual summary;

Figure 2 : Sustainable family business theoretical model (Danes et al 2008).

Theory used to study family businesses need to be flexible, dynamic and be able to address

various issues relating to such firms (Danes et al 2008). The model allows diversity in

size, family stages and business cycles, mix of family and non-family employees,

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industries, legal structures and cultural contexts (Danes et al 2008). The central tenets of

the model include:

a. Family is a rational social system (Stafford et al 1999);

b. Family business sustainability is a function of both business

success and family functionality (Danes, Loy and Stafford 2008);

c. Resource and interpersonal processes differ during times of

stability and change (Danes 2006);

d. Family and business interact by exchanging resources across their

boundaries (Danes et al 2007);

e. Owning families rationally manage the family and business jointly

to optimise achievement of their objectives (Paul et al 2003);

f. Family or business can be destroyed if the boundaries are too

diffuse (Stafford et al 1999);

g. Conflicts arise when there is a mismatch between demands and

resources (Danes 2006);

h. A positive symbiosis between family, business and community is

productive for both the firm and the community (Niehm et al

2007);

i. During times of disruption, managers must reconstruct processes to

ensure sustainability (Danes et al 2005).

The model recognises that family business achievements are evaluated multidimensionally.

Objective and subjective indicators will lead to a complete outcome assessment thus an

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understanding of the entire context in which the business operates, although they may

measure different things (Cooper and Arts 1995; Cooper et al 1988). Business success is

multidimensional (Paige and Littrell 2002) and the model provides us with a multi-

dimensional tool for deeper analysis.

2.2.4 The Family-Business Brand

The family brand is a unique competitive advantage and not easy to imitate (Craig et al

2008). Considerable evidence suggests that family businesses generally outperform their

nonfamily counterparts (for example, Dibrell and Craig 2006; Munoz 2001). Craig,

Dibrell and Davis (2008) examined the role of family based brand identity as a leveraging

tool to facilitate performance outcomes through enhanced competitive behaviours. Family

brand identification is considered to be of utmost importance for the success of

entrepreneurial and small and medium-sized businesses (Gruber 2004; Morris,

Schindehutte, and Laforge 2002). The family-based brand identity is a contributing

resource and capability that provides a potential advantage by highlighting their distinctive

familiness (Craig, Dibrell and Davis 2008). Successful development of customer

relationships hinges on the ability to communicate this family-based brand identity (Craig

et al 2008).

Many studies have reported benefits from such an approach (Craig and Moores 2004) and

case studies , such as Post’s (1993) study of the family-owned and operated Boston Park

Plaza Hotel demonstrating how a family can “incorporate the values, interests, and needs

of the family into the mission, strategies and operations” of the business (ibid at p.146).

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Family-based brand identity allows the family business to attempt to persuade customers to

make purchasing decisions based on perceived attributes of the seller and does not affect

performance directly but rather via the firm’s competitive orientation, specifically via a

customer-centric orientation (Craig et al 2008). Long-term strategic outlook favour

orientations built around customer relationships over those built on product-centric

orientation (Miller and Le Breton-Miller 2003). Studies demonstrate that promoting

family ownership plays an important role in establishing a firm’s appeal to customers in a

manner unique to family businesses (Aldrich and Cliff 2003).

2.3 The Brand

Over the past 100 years, markets and marketing has evolved to keep pace with the

increasing number of products offered, competition for customers’ attention and money

and the range and availability of information due to technological progress (Kotler, Keller,

Brady, Goodman & Hansen, 2009) and generally the sophistication of consumption has

resulted in consumption increasingly dictated by the individual’s perceptions, thoughts,

and feelings rather than product attributes and user needs (Addis & Holbrook, 2001, p. 51).

In line with his development, the meaning and role of brand and brand management has

changed from a sign of identification to one of differentiation (de Chernatony &

McDonald, 1998). That is, brands are recognised as the means to obtain competitive

advantage and influence customers’ buying behaviour (Kotler et al, 2009).

A brand is a mixture of tangible and intangible attributes, symbolised in a trade mark which, if properly managed, creates, influences and generates value (Interbrand, 2005).

31

Brands protect, identify and differentiate (Calderwood E, 2008). Brands benefit

businesses, the consumer and other stakeholders in the value network. Family businesses

face the challenge of creating a coherent perception about who they are and the advantages

they offer to consumers (Einwiller and Will, 2002). Brand management is one way of

achieving this coherence (Hulberg, 2006).

Brands are valuable for the brand owner (de Chernatony & McWilliams, 1989) and

consumers (Keller 1993). The brand deals with the complexities of today’s savvy

customers on behalf of the owner thus benefiting in multiple ways, while customers

receive both functional benefits (e.g., help in selection of products, helps identifying

products that the customer trusts) and psychological benefits (e.g., the brand as a means to

buyer’s identity, or the brand as a way to maintain connections with important groups)

(Botero & Blomback, 2010 at 3). It is very easy for competition to copy brands because

they are very visible thus it is becoming more important to develop distinctive points of

difference (Burt S, 2008).

The value of the brand centres on the idea that brands help create sources of differentiation

thus add value to the consumer or brand owner (Botero & Blomback, 2010 at 4). The

brand value is inextricably linked to the meaning of the brand among consumers (Aaker &

Biel, 1992; Keller, 2008). Brand equity describes and computes the value of a brand and

can help clarify the inherent connection between consumer perceptions and how they

translate into benefits for the owner (Botero & Blomback, 2010 at 4). Customer loyalty to

an identifiable brand provides the basis for brand equity.

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2.3.1 Brand Identity

All retailers seek consumer attention and spending regardless of type of business. The

problem remains the same i.e. how to get consumers to notice and patronize the business

(Davies K, 2009). The starting point is the external identification of the shop for

consumers i.e. the name, fascia, color scheme etcetera (ibid). As consumers use the stores

they become aware of differences or distinctions related to the name or other identifying

characteristics. Modern retailing requires retailers to be pro-active and seek out

differences to build on, market and attract consumers; thus positioning away from the

competition and ‘stand for something’ in consumers perception (ibid).

[Consumers] decided which retailers to visit before they even start a shopping trip, based on pre-existing conceptions of style, product range, sizing, price, information, and customer service. All of these dimensions (and more) can be conjured up just through the recall of a retail brand (Davies K, 2009).

Retailers have an image or reputation to portray and uphold (ibid). Many tangible and

intangible factors contribute to this image but the problem is that consumer perceptions

vary in time and space, and is relative to existing competition in the market place (ibid).

An overview of the brand’s position in such dynamic retail marketing is depicted in figure

3 below.

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Figure 3. Retail Marketing (Teller C, 2008).

The retailer’s image or identity is captured by Kapferer’s identity prism (1986)

which helps focus retailer’s attention on the link between the organisational brand

and the consumer’s decision. Identity comes from specifying meaning; intention;

aspirations and mission of the retail brand (ibid). Consumers have reasons for

their actions, some perceptual and attitudinal which go beyond behavioural

components (ibid). Retailers generally focus on the functional elements that are

readily copied parts of the retail offering because consumers are buying these

attributes, but consumers’ attitudinal components can be tapped through retail

marketing in a coherent, consistent and total manner (ibid). Once the retailer’s

identity is defined, we can introduce semiotics and build loyalty and equity.

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2.3.2 Institutional Semiotics

Semiotics examines the generation of meaning from communication signs i.e. the ways

entities communicate with each other, consciously and subconsciously through language,

visual images, music etcetera (Lawes, 2002, at p.253). The retailer’s identity provides us

with the words, visuals, symbols and colors directed at achieving the objective of

differentiation (Kapferer, 1986). Semiotics plays a crucial role in persuasion and

reminding consumers of the retailer (Davies K, 2009). The image and brand is developed

and related to customer needs, demands and perceptions and an understanding of the

importance of economic and symbolic dimensions of activities (ibid). Image and market

position is very hard to earn and easily lost without the organisation’s full support of the

image and the brand in its entirety (ibid).

Van Tongeren (2003) suggests that retailers need to design something that reflects their

core values and open for business then wait to grow into your positioning based on how

customers react to what you have offered. The mechanisms for communicating and

delivering values through the brand include the seven P’s but some processes; more

specifically in-store communications, visual merchandising and store environment are

ideal medium for communicating the values of a retail brand with great precision (ibid).

The consumer can experience the environment. He or she has chosen to be there at that

moment and is therefore highly receptive to it (ibid). The strengths and uniqueness of

these brand associations are the dimensions of brand knowledge that play an important role

in determining the differential responses that enable the creation of brand equity (Keller,

1993).

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2.3.3 Brand Equity

Brand equity is a reputation-based resource that takes time and proactive management to

develop overtime. Reputation is a concept that aggregates the business’s associations and

images to deliver the final single brand (Botero and Blomback, 2010). The benefits of

associations depend on context and circumstances and may vary significantly across retail

settings. Measures are needed for brand strength, stature, imagery, feelings and

expectations (Keller 2006). According to the Brand Asset Valuator (BAV), a

comprehensive model of brand equity based on research involving over 500,000

consumers in 44 countries, there are five key components of brand equity (Gerzema and

LeBar 2008);

i. differentiation measures the degree to which a brand is different from others;

ii. energy measures the brand’s sense of momentum;

iii. relevance measures the breadth of a brand’s appeal;

iv. esteem measures how well the brand is regarded and respected;

v. knowledge measures how familiar and intimate consumers are with the brand.

The brand’s future value is determined through an energised brand strength measured by

the first three components while esteem and knowledge create brand stature (Keller 2009).

Marketers need to closely monitor these perceptions to ensure the brand maintains its

status (Keller 2009). Many kinds of intangibles can be linked to brand equity, for

example;

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i. User profiles of the person who uses the brand;

ii. Purchase and usage situations such as type of channel, ease of purchase and

associated rewards.

iii. Personality and values, that is how do people feel about the brand, its sincerity,

excitement, competence, sophistication etcetera (Aaker 1997).

iv. History, heritage and experiences can help the brand become iconic by creating a

myth that taps into enduring consumer hopes and dreams (Holt 2004).

Understanding exactly how different consumer segments see the brands along these lines is crucial [and] marketers must evaluate the strength, favourability and uniqueness of imagery associations both over market segments and over time to make sure those sources of equity stay strong. (Keller 2009 at 296).

The marketers guiding brands act in a rapidly changing marketing environment and

becoming a skilled marketer is becoming a “vital prerequisite for success” (ibid). Specific

measures for this research are identified in chapter three.

2.3.4 Luxury Branding

An important presumption that will be tested in the research is whether or not the retailer

fits within the luxury or high-end goods and services retail industry. This has implications

for the brand and its image and may hold key competitive advantages that create enormous

value and wealth for such organisations (Keller 2009). Keller identifies ten defining

characteristics of luxury brands and Kahle et al (1988) expands on the six important brand

building feelings behind luxury brands and may come in various forms and across varying

target market segments (Keller 2009, see appendices)

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The first three types of feelings are experiential and immediate and the latter three are

private and enduring and can be either inner-directed or outer-directed feelings (Keller

2009). The value of the inner-directed or out-directed feelings may vary across

generations and segments but must be examined because have implications for marketing

programmes.

Another area to deal with is expectations because a strong brand is a ‘promise’ to

consumers and luxury brands are bigger promise thus higher expectations. Developing a

brand portfolio with distinct and un-related brands is the simplest way for marketers to

seek new sales at different price points with minimal chances of dilution (ibid). Each

brand should be positioned to maximise coverage and minimise overlap of the target

market and a migration path between different offerings will be advantageous.

Understanding the reactions of existing and potential customers to different branding

strategies is critical (ibid).

2.4 Leveraging the Family-Business Brand

The exploration of branding in family firms has primarily focused on two lines of research

(Botero and Blomback, 2010). Firstly, theories explore the perceptions that non-family

stakeholders have about family firms and their brands. Stakeholder perceptions examine

the effects of family-ownership on perceptions of customer service, quality and other

aspects (ibid). The general perception is that customers often have positive associations

with family owned brands and represent emblems of success and prestige which lends to

38

trust (Blomback, 2006, 2009; Craig et al, 2008; Frost, 2008). The other line of research

explores what family businesses do to manage their brand and the benefits this brings.

Litchfield (2008) explored whether ‘family-owned businesses’ in messages to consumers

could create strategic advantage for an organisation. Her results suggest that both positive

and negative perceptions exist, positive being higher quality product and service

association, and the negative was the association with internal conflict in such firms. In

general, perceptions about services offered by family-owned businesses were positive.

Another way that a positive image transfer is expected to occur is through secondary brand

associations that represent the links in the mind of the consumers through past experiences

with other businesses of similar characteristics thus providing a backdrop for recognising

and giving meaning to the brand in the stakeholder’s minds (Botero and Blomback, 2010).

Other recent studies have looked at how family businesses communicate their uniqueness

and use branding as a framework to explain how family firms differentiate. Blomback

(2006) and Blomback and Ramirez-Pasillas (2009) claim that explicit references of family

business ownership in communication can be interpreted as the promotion of a corporate

category brand i.e. the family business brand. This could be referenced in the name (e.g.

‘Henry & Sons’), description of time (60 years in family business), indication of

generation (e.g. 5th generation), or by saying that we are a family company. Such

referencing also helps the owners feel more identified with the business.

39

Craig JB, Dibrell C and Davis PS (2008) investigated how the promotion of family-based

brand identity influences competitive orientation (customer versus product) and

performance in family firms. Their research found that maintaining a family-based brand

identity (i.e. creating perceptions of trust and consistency in the minds of customers) can

render positive effects on financial performance i.e. promoting family-ownership to

stakeholders helps perform better than not promoting.

2.5 The Branded Sustainable Family-Business Theory

The myriad of concepts, variables, theories, frameworks outlined above can lead to

numerous hypotheses; however the researcher is bound by the norms of good science to

focus on events that are limited and specifically defined (Berger RM and Patcher MA,

1988). The SFBT model (paragraph 2.2.3 above) provides the essential framework to

bring focus to this study while Kapferer’s identity prism capture’s the essence of the

linkages between the consumer and business thereby providing an integrated and enhanced

perspective that result in benefits on multiple fronts to the family-based retailer.

Much of the discussion specifically relates to luxury goods and services because the cases

studied relate to luxury-based retailers but the scheme can be equally applied to other types

of goods and services through numerous categorisations or fragmentations that interests the

marketing practitioner. It is recognised that a study of the impact of branding linkages on

family-business processes in the SFBT model represents a gap in the literature which it

seeks to address.

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The study thus far indicates that we can manage our value cycle for enhancing the

exchange process taking place in the experiential space between the retailer and consumer.

The co-created value is reflected in the brand i.e. the single image that the customer recalls

when making a purchase decision. The brand image has numerous variables that can be

tweaked to improve long term sustainability of a family-business. This paper stipulates

that the SFBT model (Danes et al, 2008) is reflected with a unique brand image.

A major cornerstone of retail marketing in recent years has been the development of the retailer’s name as a brand, rather than simply a name over the shop. We have now arrived at a situation where the names of major retailers are better known to consumers than any but the biggest of the manufacturer brand names (McGoldrick P, 2002, p.336).

Varying semiotic characteristics sharpen this image for the community and / or consumer

to identify in the growing haze of brands. Once the visual connection is established, values

begin to seamlessly transfer until repertoire builds sufficient value to justify further

interaction with what the brand reflects. Semiotics persuades and reminds consumers of

the retailer (Davies K, 2009).

2.6 Deriving Research Objectives

The branded SFBT model provides a framework to consider and incorporate family

businesses unique characteristics and ensure processes are directed at contributing

positively to values of the brand. Such an all-encompassing initiative must originate at the

highest strategic level in the business in order to leverage the brand to co-create higher

values towards the brand. Essentially, this research superimposes a branding framework

over the SFBT model to reflect the image that is created by the internal processes.

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The image has to be closely monitored to ensure the brand maintains and improves its

status (Keller, 2009). We need to understand the sources of brand equity and find ways to

improve on them. Luxury branding contributes unique brand equity demands and these

provide the necessary variables to measure the impact and linkages to the internal SFBT

processes.

The objectives for this research are therefore stated as;

Branding contributes towards family-business achievements;

Branding stabilizes disruptions during times of change;

Branding enhances processes and transactions during times of stability;

Branding contributes to long-term family-business sustainability.

These objectives provide the framework for a qualitative fieldwork. The resulting

framework being developed and tested is identified as the Branded SFBT. The image

identify elements enhances the SFBT model and identifies growth scope and ways to

improve experience for customers thereby building trust and loyalty. Key elements have

been identified through the literature review and their relative importance is measured

through the narratives of executives in retail practice.

A limited and specific design and method of research is discussed based on these research

objectives in chapter three followed by an analysis of the results of the fieldwork in chapter

four.

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Chapter 3 : Research Design & Methodology

This section expands and refines the research design and methodology described in chapter

one. It describes the research strategy adopted, defines the concepts and variables as per

the research objectives and specifies the measurement methodology used before outlining

features of data collection and analysis.

3.1 Research Design

The literature in Chapter two has provided extensive insight into the family business and

branding, as well as its specific dimensions and variables, whilst the case study gives focus

to the research design by identifying benefits and shortcomings associated with various

approaches to branding the family-business. The research is designed to test the objectives

related to the branded SFBT model proposed by this paper. This chapter will provide an

outline to the analytical approaches and sources utilized, as well as highlighting the major

limitations of the study.

3.1.1 The Research Strategy

Given the specific nature of the research objectives, as well as the fact that little research

has previously been carried out in this area; the research is primarily descriptive in nature,

and specifically takes the forms of open-ended questions and in-depth interviews with

experienced family-based retailers directing established brands in their respective market

segments. Such an approach gives insight into the linkages between branding and a

sustainable family-business, particularly a luxury retailer. The research is designed to gain

43

a deeper understanding of practitioner’s views and understand how they make decisions

regarding branding and their family-retail-businesses. The concepts and variables related

to branding and the SFBT model need to be specifically defined in order to develop

methods for measurement.

3.1.2 Defining Concepts and Variables

The literature review has identified a number of variables, in relation to the key drivers of

long-term sustainable family business models and luxury branding. Retailers need to

design something that reflects their core values and wait to grow into positioning based on

how consumers react to what is offered (Van Tongeren, 2003). The mechanisms include

the seven Ps but more specifically; in-store communications, visual merchandising and

store environment are the ideal medium for communicating brand values with great

precision and consumers can experience this environment in a highly receptive manner

thus co-create values towards the brand equity portfolio.

The six facets of Kapferer’s identity prism (1986) help this research’s focus on the link

between the brand and the consumer’s decision. Luxury branding directs the research

further towards the specific branding values applicable to a luxury goods and services

business as per the case study for this research. Keller’s ten defining characteristics of

luxury brands and the six important brand building feelings (Kahle et al, 1988, listed in the

appendices) provide the variables to explore and draw conclusions regarding their

contribution towards long-term sustainability of family-businesses.

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3.1.3 Measuring Concepts and Variables

A customer-focused survey followed by in-depth interviews and further research was

considered, however, such an approach will not provide much insight comparative to in-

depth interviews with family-business practitioners in retailing using some degree of

branding. These are therefore the pre-requisite for an in-depth interview.

Concepts of image and branding converge and are even more critical for retailers because

store image requires a heavy commitment and heavily relies on the branding. The final

image reflected helps successfully trade in the exchange process and contribute towards

long-term sustainability of the family-business. What is required is a measurement of

attitudes and opinions rather than more easily quantifiable factors (McGoldrick, 2002).

The choice of measurement technique and study focus must attempt to minimise factors

that seek to conform and distort measures (ibid).

Data capture from these practitioners will be through questions to gauge their perspective

of brand identity and by seeking suggestions for improvement in the brand image. Brand

qualities identified in the literature will guide in the construction of the questions,

including brand equity measures. The questions will be framed to determine whether or

not branding affects the various internal processes of the family-business. The following

discussion reveals the detailed methodology adopted for capturing raw data, which is then

analysed to confirm or reject the theoretical framework prescribed by this study and

presented as results in chapter four.

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3.2 Research Methodology

Methodologically, this research constitutes a qualitative and exploratory collated data

using desk research and semi-structured in-depth interviews. The subject is broad and

some research has been discussed in the literature review in chapter two. The resultant

research objectives from that review provide the essential discussion framework for the in-

depth interviews.

3.2.1 Background Context

My interest in the combination of the topics discussed in this study stems from practical

experiences in working with retailers, mostly in Fiji Islands and New Zealand. Many

retailers are family owned and operated businesses, and developing or maintaining a

sustainable family-retail-business is becoming an increasingly complex task. Considerable

differences also exist between geographically separated markets (Arnold et al, 1983)

making comparisons of external factors difficult. However, this research is specifically

looking at internal aspects that only a strategically placed practitioner can provide and may

help tap the vast reservoir of family businesses across separate markets.

A branded SFBT model may provide the single yet multifaceted tool required for

understanding and handling complexities. The best data source to provide insights on the

relations in this complex and specific field of study is an in-depth interview with

experienced and ‘weathered’ retailers running their family-retail-business using brands.

The twelve individuals selected have over thirty years of retail-business experience across

46

separate markets occupying varying roles. The essence of retailing is captured in the

narrative form to confirm or rebuff the stated objectives.

3.2.2 In-Depth Interview Design

Interviews were designed based on an initial basic survey amongst a family group of five

retail business owners. The survey gauged the topics of interest for discussion in relation

to a family-based retail business and determined many interconnections exist that can be

discussed under various topics.

An opening with retail marketing helps introduce and discuss broader aspects business,

while family-business adds a specific dimension that the practitioner deals with on a

regular basis, then the interview turns to how various mechanisms operating the brand’s

equity can leverage the brand to help establish long-term sustainable family-businesses. In

other words, ‘brand’ is the independent variable and the presumed cause having a

presumed effect on the dependent variable(s) derived from the SFBT model. More

specifically, the narrative will be used to analyse and confirm (or deny) the stated research

objectives.

This method will test the Branded SFBT model hypothesis and predict how varying

branding variables affects the family-business. The overall image is captured by brand

equity measures but criticisms suggest such measures fail to capture the full picture.

Nonetheless, in my opinion brand equity measures may capture the essence of the brand

through flexible narrative and imagery. The developing concepts of brand equity help to

47

move forward our understanding of the instrumental role of images for retailers

(McGoldrick, 2002). The variables that can help determine the value of a retailer’s brand

is listed in figure 4 below.

Figure 4. The Retailer’s Brand Equity (McGoldrick, 2002, at p.186)

48

The figure illustrates how the brand equity accumulated by retailers can generate value in a

number of ways, through improved loyalty, awareness, image, associations and other brand

assets(ibid, at p.187). Collectively, these benefits provide competitive advantages and add

value, both for the customer and the retailer. This list includes the components of brand

equity discussed in chapter 2 (Gerzema and LeBar, 2008, see paragraph 2.3.3). The logical

next step is to try to identify the components of images, accepting that these are not

confined to tangible attributes therefore affecting the choice of methods used to measure

images, ranging from highly structured scales to in-depth elicitation techniques

(McGoldrick, 2002). Part of the brand equity for the retailer is specifically the store image

and its elements are listed non-exhaustively in table 1 below.

The table lists 18 general areas and 90 more specific elements that have been identified in

previous studies of image and brand identity (McGoldrick, 2002). Almost all the elements

listed can have multiple interpretations and the importance of components varies

considerably across markets and segments (Arnold et al, 1983).

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Table 1. Elements of store image (McGoldrick, 2002 at p.188)

50

These two variable sets have been used as stimuli and loose framework for interview

discussions. A fundamental problem of attitudinal scales is that they involve forced-choice

measures that may not isolate critical image components as people respond to

characteristics that do not necessarily comprise the image they have of the store being

studied (Kunkel and Berry, 1968), therefore a psycholinguistic approach is adopted in

order to overcome some of these problems. This is an open-ended build-up of image

structures by noting the issues mentioned and the adjectives (dimensions) used to describe

them (Cardozo, 1974). This allows for some structure without rigid imposition upon

respondents.

A divergence exists between conceptualisations and the measurement of store images

because an ‘image that was believed to be a picture is measured with a list’ (McGoldrick,

2002 at p.195). Practical suggestions from researchers in brand equity (Aaker, 1991), on

how to elicit the more difficult elements of image have been adapted for this study

including;

i. Free association techniques including word association and sentence completion;

ii. Picture interpretation to elicit feelings associated with the brand and business;

iii. Store/ Brand’s personality, for example, lively or dull;

iv. Any stimuli to help respondent go beyond the obvious, mundane description;

v. Discussion of experiences and contexts;

vi. Follow decision making process regarding brand, image or other decisions;

vii. Discuss what consumers are like and how the business is directed at them;

viii. What distinguishes brands and stores, and the relative importance of various factors;

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ix. Means-end analysis to push respondents beyond attributes towards benefits and

values thus repeatedly ask ‘why’ (Reynolds and Gutman, 1984);

Discussions included variables from the concepts of luxury-branding (paragraph 2.3.4); the

central tenets of the SFBT model (paragraph 2.2.3); and the family-business brand

(paragraph 2.2.4). Accordingly, a list of suggested questions was prepared per concept and

this is available in the appendix. Many other techniques could have been deployed in this

context, however, the insights available through the presented approach has higher

qualitative values and addresses the objectives of this research efficiently, effectively and

within time, space and budgetary constraints.

3.2.3 In-Depth Interview Procedures

Depth interview is a qualitative research method based on open-ended interview methods

(Kent R, 2007) therefore the interviewer is not constrained by pre-coded questions or by a

fixed sequence of questions. It is more of a conversation on an agreed topic. Data is

captured in the form of a narrative rather than isolated statements. Interviews ranged from

half an hour to a few hours for some people.

The interviews were executive interviews concerning role; action; perception of that

individual (or group) or information about the way the organisation works. Twelve

individuals from seven family-luxury-based retail businesses agreed to share their relative

experiences through individual, couple and family interviews (as per circumstances of the

family business). The research attempts to go beyond face value, looking for frameworks

52

and patterns, and interpreting the meanings and implications of what is said. The structure

involved open-ended questions combined with use of projective techniques to tap hidden

emotions and with some guidance from a detailed interview guide (see appendices).

Various stimulus materials were kept on hand to assist in discussions and additional

materials accessed online, for example the figures used in this paper, materials from other

luxury-based retailers such as Michael Hill Jeweller, Pascoes, Prouds, Rolex, Swarovski

etcetera and various other brands that interviewees mentioned during discussions.

The location was mostly web-based with eight interviews where one family-business

owner travelled from Fiji to New Zealand and others were conducted within New Zealand

or on-line. Further an open-ended email channel for correspondence was used for

expression of thoughts and ideas relating to the subject-matter. Skype and other online

tools such as live webcam, chat programs and emails was used for best effect, while the

research was conducted in Hindi or Guajarati or English as necessary per the person being

interviewed with English translations and transcripts as necessary. The approach was

generally to introduce the broad subject area and clearly define the aims of the study and

the objectives of the data gathering process. Face-to-face discussions were needed for long

and complex commentaries. The answers provide qualitative evaluative data that highlight

various elements of successful family-business brands and the processes that lead to a

longer term sustainable business. It has proven very difficult to frame questions, knowing

the differences in perspectives of the interviewees.

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The questions were designed utilizing many of these variables by incorporating them into a

combination of five point Likert scale format, with for example, responses to levels of

satisfaction, ranging from (1) “very unsatisfied” to (5) “very satisfied”, or yes / no / maybe,

or re-arranging elements by importance in a list form etcetera. The questions were a

mixture of fixed choice and open-ended formats, with follow up questions and elaborations

on specific points. The questions have been designed to capture specific information

relating to various aspects of the family business and branding strategies.

A purposive sample of owners and key stakeholders of family businesses with established

retail outlets was chosen. A general study would not have been feasible due to the cost,

geographic spread and the difficulty in accessing appropriate personal within multiple

family businesses. Instead, sampling was judgmental sampling, a non-probability

sampling technique. Therefore key stakeholders are selected based on experience,

involvement, strategic value and power in the organisation.

The interviewees are responsible for strategic orientation including organisational, cultural

and marketing aspects of their respective family businesses. This study involves several

independent luxury (mostly jewellery) retail business owned and operated by individual

families with various roles played by the different family members. All participants were

sent a copy of the main points raised and agreed during interview to confirm accuracy and

credibility of findings. In addition a journal was used to document any significant

mannerisms and observations that occurred.

54

The study was initially conducted through broad inquiries followed by open-ended

interviews with various members under the family ‘umbrella’ and in-depth interviews with

the key figures identified. Three of the informants have made significant contributions to

small-retail-business development in the South Pacific region as leaders of various retailer,

business and charitable groups for more than thirty years thus adding qualitative values to

the results and conclusions.

3.2.4 Data Analysis

The literature review provided guidance in selecting specific measures for the theoretical

constructs to incorporate in the analyses. Efforts were directed to understanding the

problems faced by family business managers, with a clear distinction between superficial

symptoms and the underlying causes of problems (Zahra & Sharma, 2004), thus endeavour

to;

i. understand what problems family managers encounter

ii. determine the root causes underlying these problems

iii. develop a range of strategies to manage the identified problems and

iv. Understand what strategies are more or less effective under different conditions and

why.

More specifically, the qualitative data is analysed in light of the research objectives to

reach conclusions on the validity of propositions brought forward in this study. A future

study may pick a larger sample and conduct statistical analysis but was deemed unsuitable

for present purposes.

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3.2.5 Limitations of the Research Methodology

There is a risk of researcher bias and sampling errors within the research. A key

presumption of this research is that because we are dealing with a retailer of luxury goods

and services, luxury branding will be relevant. The entire process including research

design, sampling, conducting interviews, presenting and interpreting the data and drawing

conclusions was done by a single researcher therefore subject to potentially high levels of

bias and error.

Recording equipment was used to contain these risks, however; the researcher deemed it

unnecessary to record various online conversations except for the data relevant to this

study. The researcher has previous experience conducting in-depth, qualitative interviews

and leading questions were generally avoided. The fact that multiple languages are used

creates translation limitations and biases; however, English remained the central language.

Research proved to be difficult to begin with as topics involve highly confidential and

sensitive information regarding internal business processes. Overall the researcher’s

knowledge and understanding attempts to genuinely balance risks and limitations, and

focus on addressing the research objectives.

I found it necessary to communicate using very simple and basic words to make sense to

people. The use of charts proved unhelpful and unnecessary; while catalogues from other

luxury-family-retail-based brands, for example, Rolex, Patek Philippe and Swarovski,

helped communicate and ease the interview significantly as the interviewee had something

56

tangible to relate to. These brands presented new options to the interviewee to ponder on

as they realised how they have aspired to such brands over the years.

Several informants requested written questions to address and these were provided. They

mostly returned and requested multi-choice questions, suggesting a survey or questionnaire

format would be a more effective research method. However, these tended to be the more

traditional retailers with lower level of English education. Most interviewees were

indifferent as to how the interviews were conducted but the overall preference was to keep

it as simple as possible.

Phone interviews proved difficult as well, especially as the stimulus was designed to be

discussed in person. However, talking about other brands proved helpful in creating a

flowing conversation and gave the interviewee a background to relate to. Skype based

interviews using webcam and internet access opened a whole new dimension for the

interviews. This tended to be younger and more tech-savvy interviewees but the results

were much more useful as it provided a platform to ‘bounce’ the conversation with. For

example, during the conversation we were able to look at and compare certain retail brands

that an interviewee was competing with.

Despite certain advantages with the web-based interviews, most retailers interviewed

preferred the good old chat over a cup of tea or glass of scotch. This method proved most

pleasant and effective especially given the nature of the topics covered in the interviews.

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The sample is small. It includes a small proportion of respondents with experience in

family-business retailing and they provide insightful data but their contribution was

disproportionate and comparisons have been drawn which could distort the results.

However a reasonable number of interviews were conducted and recorded with individuals

in relevant positions across a variety of geographical markets within the given time and

budgetary constraints.

A comparison will be made between the different perspectives of the respondents about the

role of branding in a family-business’s long-term sustainability. Interviewee acts as both

respondent (i.e. gives personal information about their role) and informant (i.e. information

about organisation and the way it operates) and the interviews were either individual,

paired, triangular or family.

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Chapter 4 : Results

The results are arranged into broad topics that respondents and informants have

commented on. In spite of the plethora of research available to retailers, evidence

continues to emerge of major gaps between retailer and customer perceptions

(McGoldrick, 2002). The results confirm major gaps between perceptions. The

conversations conveyed some clear messages and mostly affirmed the research objectives,

albeit indirectly.

4.1 Branding contributes towards family-business achievements;

Interviews largely confirmed that branding contributes towards functional integrity, human

capital growth, financial soundness and structural integrity. However, there was

significant difference in opinions when determining the level of contribution. Generally,

having a single, identifiable brand was considered a small part and came under marketing

or advertising. The actual business processes, availability of skills and resources and

‘selling what people want’ were considered far more important in contributing to success.

Instead of using ‘branding’ or ‘image’, I introduced ‘reputation’ and the respondents

reacted differently to the same objectives. Reputation was considered most important for

longer-term success, as one interviewee puts it; “once you loose your reputation in

business – you loose your business”.

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This highlighted early during the interviews that different words carried different meanings

for different people. The word ‘brand’ externalised and separated the ‘image’ and feelings

the retailers were presumed to express during interviews, but the word ‘reputation’

internalised and related the image and brought out associated feelings thus made more

‘sense’ to interviewees and helped fulfil the purpose of this research.

4.2 Branding stabilizes disruptions during times of change;

Change from the norm causes disruption and branding stabilizes these to a certain extent.

Respondents commented that some disruption is inevitable during change. In family-

businesses, succession or change in management or leadership change causes most

disruption because the person being replaced was ‘irreplaceable’ to begin with. When a

‘reputed’ person is removed, his or her customers may not be willing to participate with the

replacement.

The advantage in family-business is that often the person replacing is related to and already

working under the ‘retiree’. This brings stability and stakeholders including customers

may find maintaining relations with family members easier. However, this does not

translate directly as ‘branding’ stabilising disruption. Interviewees felt having a single,

identifiable name did help, and this could be the name of the business or surname of the

family. Therefore it is deduced that branding brings some stability during disruption.

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4.3 Branding enhances processes (and transactions) during times of stability;

The most important factor was however personal touch with customers (and other

stakeholders) directly. ‘Knowing’ the customer and satisfying their request was an over-

arching objective of doing business. Talking to people and establishing networks of

‘friends’ ensured a ‘consistent customer supply’. “This generates sales and keeps the

business ticking over. If we have money – everything else falls in place auto-magically”.

The result was slightly different for a retailer who had experience in operating multiple

branches. Professionalism and standardisation of product and services were the keys for

success (in his case). Branding and image-management was part of the standardisation

process. Marketing a standardised business helped achieve transaction and process

stability. This affirms existing theory that repeating an image creates and continuously

reinforces the singular brand identity (see paragraph 2.3.2 above).

Having a brand was considered helpful but not as important as ‘doing the process and

transaction properly’, i.e. providing good service and a quality product. The brand

however makes it possible for the process and transaction to begin in the first place. The

element of ‘trust’ was expressed consistently amongst interviewees. If trust exists between

the customer and retailer, this makes the sale easier as the retailer (or salesperson) has one

less obstacle to deal with. Trust and loyalty are elements of the brand equity and therefore

it is deduced that branding may enhance processes and transactions during times of

stability.

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4.4 Branding contributes to long-term family-business sustainability.

The interviewees most clearly supported the contention that having a brand is important for

long-term family-business success. This stems from the realisation of the longer-term

implications of running a business. The passage of time is inevitable and having an

established brand name will assist in the long-term survival because ‘people will have to

change but the business is the same’. The brand or image captures this business process

and is imprinted in the consumers’ mind. Trust, loyalty and building relationships were

considered more important for a ‘specialist’ or luxury retailer. One retailer even quoted

Shakespeare “if a rose were to be called by another name, would it smell any less

sweeter”!

This type of comment highlights an important point, the customer or other stakeholder do

not necessarily share the same sense of ‘smell’ and the competition in the meanwhile are

providing better experiences. These can be charted with brand equity measures in order to

identify where the retailer is lacking and therefore identify the course necessary to improve

business performance. Comments suggest the focus of different interviewees depended on

their area of expertise, for example, a retailer making buying decisions was focused on

prices and margins. Branding did not matter because ‘you know who your supplier is and

he [or she] knows you’. Sometimes the relationship begins before a brand was even

formed for the business. A jewellery retailer interviewed explained how he sold jewellery

twenty years ago but from 1990-2000 he switched to the restaurant business. His current

business is again jewellery but under a new brand name, yet most of the relationships that

are sustaining the business pre-existed.

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What the retailers are not realising is that all their efforts and achievements culminate into

a single value proposition, i.e. brand. In family-based retail business this value can be held

with an individual, and from the interviews it seems that value is frequently attached to

individuals or personalities, and not necessarily attached to the brand. Bridging this gap is

an essential role for a family-business marketer. The value attached to certain characters

must be bridged to transfer to the brand so that the business does not have to rely on an

individual. With a specialist jewellery retailer, the problem was that he was also an expert

gold craftsman and had built a dedicated customer base that continuously supplied him

with business. The appearance and location of that retailer had changed over the years but

the name had remained the same because ‘otherwise it would be difficult for customers to

locate [him]’.

Comments suggest branding does help long-term identification but other elements of brand

equity fall in place more ‘naturally’. “You start with an idea to make money by selling a

good or service, and everything is based on that idea. Questions like where, what, why,

how and when create the plan of attack, then it’s the budget, finance and action!” Décor

and store atmosphere was recognised as a high upfront investment, and budget constraints

often prevent ‘going all out on looks’.

Skills and costs played important roles in decision making for family businesses. Often the

packaging, displays, advertising, range etcetera were determined on basis of costs and cash

outflow required. There is often some ‘image’ in the mind of the key architect about how

the retail store should look but choices have to be made to move forward in the plan.

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“When you start to think about all the different things that are needed to start one business

and ensure it carries on in the future, this is the point where you give up the idea because

there are too many small problems to solve to get to any result. And even then there is no

guarantee of reward, but there is almost a guarantee for failure. However, if you have

skills and experience in doing businesses then you have already made the choices before

and you know exactly what to do with what you have, what works, what doesn’t work”.

Overall there was agreement that having a good brand name will help long-term-business

sustainability but this was a small part of a much more complex game. Building a good

image and reputation is very important, but the most important thing in the store is ‘making

the sale’. Without revenue to fund the expenses, the business dies. This affirms the

cyclical nature of the value cycle (see paragraph 2.1.2). One commentator described it as a

‘chicken and egg problem – without one you cannot have the other’.

4.5 Retail Marketing

Most interviewees did not know much about marketing or branding specifically.

Individual retailers seemed to be marketing on a relationship basis engaged with a network

of customers, friends and other businesses. The tough business conditions were primarily

blamed on the current global financial crisis and recessions in most markets. None

reported business-as-usual but just ‘ticking’ along and hardly anyone interviewed thought

something was wrong in their business or their advertising or marketing. “People are just

not buying [luxury] items because cost for everything else has gone so high”. Most

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interviewees believed things will get better and then spending on marketing and

advertising will increase again generating more business.

No one interviewed thought marketing was an overarching idea that covered the whole

business process. Marketing was considered just another part of doing business but the

more experienced interviewees realised the importance of marketing. No one claimed any

expertise in relation to marketing, but advertising was often copied or adjusted from a

previous version or suggested copies. Only the multi-branched retailers had dedicated

marketing personal to carry out various functions including buying, merchandising,

preparing advertisements, organising specials and sales. But the ‘main boss’ always

maintained over-riding authority and frequently directed most of the details themselves.

4.6 Family-Business

The family was extremely important but separate and distinct from business, and the

preference is to keep it separate. Only two of the retailers examined expressly included a

‘family-business’ element in their logo, for example, established since 1949. Upon further

inquiry it was revealed that the decision was based on a sale held in 1999 celebrating the

50th anniversary of the business. There was no express decision to highlight the family-

business element but it was rather a by-product of an advertising campaign eleven years

ago. Even now it is not a fixed element but appears in some ads and some letterheads.

“Business brings a lot of stress into family-life so it is best to avoid this stress”. However,

the very definition of a family-business requires engagement of both these concepts and

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even the retailer who made this comment realised that his business has always been a

family business. In fact all interviewees commented on how family-members can be relied

on when you need them, whether for business or other issues. Five husband and wife

teams were interviewed, and despite a flood of complaints against one another, both were

generally reliant on one another to perform routine and mundane tasks that you would

otherwise need to hire someone to do. This was important for the smaller retailers,

whereas the bigger and more established retailers had employees for most tasks, except

signing cheques and purchasing.

Having family members present at the business premise is a source of assurance and

interviewees felt ‘safe’ when someone was keeping an eye on things on their behalf. There

were often points of contradiction revealed during interviews that could not be explained

by interviewees. On the one hand they wanted to keep the family and business separated,

yet they frequently relied on mixing them together to keep going. As usual, money was

found to be the “root of all evil”. If there was enough money, then life would be easier.

4.7 Leveraging the Brand

Towards the end of interviews, everyone interviewed thought that branding and marketing

will improve their business in some way. Some interviewees hinted at further meetings to

discuss about their brand’s future but the researcher had to clarify that any such

examination will need to look at a whole range of factors beyond the scope of the present

study.

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Most commentators expressed an unwillingness to change the status quo as they had

settled into their current positions after an uphill struggle and had captured a niche market

that kept business rolling over. A good example that recently appeared was the logo

change for Gap and the resulting consumer community outcry. The marketers tried to fix

something that was not broken and this danger exists for family-businesses as well. “If a

business is working and growing, then there is no need to try and fix it” but there may be

an opportunity to enhance and improve performance to maximise on the elements that the

business is good at.

4.8 Luxury

Most did not consider luxury to be a central issue, yes their products were luxury-oriented

but if the retailer appears too luxurious, then customers will pre-determine the store to be

too pricey and therefore not patronise. A certain degree of appeal was important to be an

inviting experience for customers with a clear pathway. But the ten defining

characteristics of luxury brands did not necessarily reflect the retailers’ perspectives, nor

was there any explicit attempt to create brand building feelings but good products and

services were essential.

A wide range of fashionable products, at good prices with good salespeople to sell and provide services. Cleanliness, neatness, tidiness, respect, good manners, clear language; these are some qualities that are naturally expected and must be provided. Luxury is going beyond and providing something extra … but we don’t really know about these things … and we try to give our best for the customer with what we have.

Such statements highlight the importance of getting the basics right, every time in

business. What the interviewees did not realise was that the performance of these basic

services invoked the brand building feelings for different customers in different ways, and

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mostly sub-consciously or indirectly, thereby affecting their family-business brand’s

equity. Positive reinforcements boost feelings to a level requiring action thus a shopping

trip to their physical outlet. It is suggested for retailers to focus on such brand building

feelings as a source for differentiation to suit their personalities and respective consumer

communities and conduct business accordingly. Family-businesses have significant

advantages over corporate enterprises when it comes down to brand building feelings and

these can be used to leverage the brand for better results.

4.9 Image

Thinking about the brand as an image or snapshot of the entire business helps to fill in the

colors and clearly see the design the retailer has created. Concepts of branding and image

converged and were referred earlier to as ‘reputation’ during interviews. Too much

complexity was avoided in fixing definitions or addressing contradictions.

The brand image for the retailers interviewed often started as a semi-planned business

venture because “everything often does not go according to plan” in competitive markets.

Bounded rationality limits knowledge and information; in-complete plans are integral to

entrepreneurial activities and so an incomplete picture emerges. This is in-line with Van

Tongeren’s (2003) suggestion to wait and grow into positioning based on how customers

react to what you have offered. Tangible aspects of the business such as location, store

format, store environment, logo, etcetera was easier to discuss and decide, while intangible

aspects, for example brand associations or perceived qualities were largely ignored and did

not form part of considerations that initiated the venture. The end result is an image that is

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purposely left incomplete but sufficiently designed to engage the consumer in co-painting a

more complete picture for everyone’s benefit.

4.10 Other Comments

Almost every interviewee had a different way of framing and talking about the issues they

deal with in the course of their involvement in the family-business. The classic problems

of succession and agency issues were present but were considered less important than

generating steady sales revenue. For most cases, the branding or image was a by-product

and of secondary importance compared to other factors. Branding was mostly considered

as ‘advertising’ and more relevant for ‘bigger names’ i.e. brands we are already familiar

with.

Competitive pressure was also highlighted as a major recurring problem. The more

specialised retailers interviewed were less concerned about large competition because they

had a well established niche, and the competition “did their own thing”. The retailers

interviewed wished and aspired to become like the examples provided to them, such as

Rolex or Pascoes, but had no clue where to begin. The first obstacle is usually available

resources and almost every idea dies at this stage. Most were positive that a lot more could

be done and business can be booming a lot more.

The best quality data was collected from the more experienced interviewees with more

successful business achievements as they talked about ‘struggles’ and ‘the walls crumbling

down’ around them in the worst of times, yet they survived. One commentator insisted

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that it is the family that brings success to the brand or image, hence business success. This

is in-line with the existing research suggesting that the family is advantageous for the

brand (see paragraph 2.2.4 above).

Comments also hinted that perhaps some retailers interviewed had not reached the stage

where they feel completely comfortable with leaving the business and the brand to operate

on its own, insisting on a family member being present especially at the points where cash

and stock is being handled. We can deduce from this behaviour that the family members

ensured functional and structural integrity, while minimising disruptions in transactions

and processes.

There was no prima facie link expressed for the second and third objectives, i.e. branding

was not directly linked to stabilizing disruption during times of change nor does it enhance

processes and transactions during times of stability. This aspect required detailed

discussion, use of examples and further explanation about how a link may exist. After

some thought on the matter, the respondents agreed that a link exists. This highlights one

of the features of this research; family-based retailers are different to the mainstream

retailers as they may not have reached the threshold of becoming a ‘known brand’. Their

success and on-going operations is primarily due to their ability to balance a whole range

of other factors.

The brand identity is an important leverage tool that family-owned businesses can utilise

but in practice the design and focus of attention are other aspects. Starting a brand and

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developing it to a sustainable state is a very high-risk gamble that not every small family-

business can handle. The more experienced and bigger retailers interviewed supported the

research objectives. The overall conclusion was that branding contributes to long-term

family-business sustainability.

Chapter 5 : Conclusions

This chapter concludes this research with a summary of key findings together with a

comparison of the literature and results, thus highlighting implications for academic

theory, family-based retailers and future researchers alike.

5.1 Summary of Key Findings

The key findings confirm major gaps between perceptions of the various actors involved in

the co-creation of values for the exchange process. Branding and marketing is seen by

family-business retailers as being a small part of the exchange process, rather than an over-

arching framework to guide the business towards success. Understandably there is a lack

of retail marketing knowledge amongst family-business retailers except for the basic

advertising required to get the business going and to keep it going.

By talking about the whole image, reputation, brand identity or brand equity helped the

interviewees relate to and talk about their involvement in designing successful businesses

that have provided their families and business with multiple mutual benefits. The branded

sustainable family-business theoretical model presented by this paper is useful practically

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to help align the resources and structure in light of the specific constraints that enable the

processes and transactions leading to desired achievements and therefore long-term family-

business sustainability.

A recurring contradiction was the issue of separation of family and business. Most

interviewees expressed a need for clear separation but in practice these are intermingled

thus bringing out the unique attributes that provide the family-business with strategic

advantages and maybe some disadvantages. Related issues were succession and agency.

Family and close friends were easily trusted and often relied on during times of

disruptions, such as shifting premises or being available to lend a hand during sales.

5.2 Comparison with Research Objectives and Literature

Underlying the results discussed in chapter four was a general agreement that branding

contributes towards long-term family-business sustainability and generally supportive of

the other research objectives. Detailed comparative commentary is included with the

results in chapter four; however some key points are mentioned again.

The issue of ‘luxury’ was a debated topic. Luxury can be defined in a variety of ways but

if accept a broad perspective then it includes a luxury experience that can be created in a

number of inexpensive ways by redirecting efforts on the experience of the shopper, for

example, maybe use heritage to create the iconic storyline needed that the shopper can

experience via visualisations, such as, photos, pamphlets, displays, booklets, web etcetera.

Many mediums are available and can be used for different points of experience but it must

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be same story to reinforce single brand image and be a positive reflection on the family-

business. Such a way would be ideal in creating better feelings and experiences.

Reputation brought out feelings and emotions in the retailer that was not so obvious when

talking about brand or brand equity. It was revealed that the retailer could relate easily to

his or her reputation in the business but the brand was less relevant. This reputational

capital was often developed through arduous social interactions spanning decades for some

retailers interviewed. The main problem during succession (or other disruptions) is

detaching this very important reputational capital from person(s) and leaving it attached to

the family-business brand for long-term sustainability. Family-businesses are again in an

advantageous position over other business formats as family members may be readily

available or have been groomed for the take-over already.

5.3 Implications for Academic Theory and Family-based Retailers

Non-business nature and activities of families impinge and enhance the business

organisation and its processes. Identifying a future path that increases the chances of

survival of a family business into the next generation has important consequences for

societal wealth creation. By developing on the branding strategy whereby knowledge from

the past is permanently embedded into the business structure, hence ‘immortalising’ past

and present generations for the benefit of future generations through their legacies.

Supportive relationships with mutual respect enables the smooth transition of knowledge,

social capital, and networks across generations (Steier, 2001). There is a need to

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understand the contextual factors that impede or enhance transfer of knowledge across

generations (Sharma, 2004). Lubatkin et al (2003) acknowledges non-family employees’

perception that decisions made to gratify immediate needs of family members as opposed

to promoting long-term value for the family firm, will lead to dissatisfaction and reduce

performance and tenures.

Leaders of family businesses are stewards of their families and their businesses, and family identity and reputation become a sustainable legacy that is passed on to subsequent generations (Craig et al 2008).

It is possible that such an approach may have limited applicability to families where

culture, tradition and heritage have played a central role in their upbringing. But most

cultures have embedded stewardship principles and may go towards enhancing such a

strategy. The study provides valuable insights into the largely neglected domain of family

businesses and the results may not be generalisable to the entire population of family or

small businesses.

Elements of luxury branding mixed with the family-brand for a luxury goods and services

retail business will enhance the experience environment for the customers and make them

feel associated with ‘luxury’ that is, achieve an improvement in mental state to what they

would have experienced otherwise. The research results challenged luxury branding to a

certain degree. In practice the retailer is not necessarily attempting to create higher levels

of feelings, but rather focuses on more tangible attributes such as providing an inviting and

appealing atmosphere for shoppers.

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5.4 Future Research

As a starting point for family business research we need to think about what business

owners and managers talk about and deal with on a daily basis. Family businesses remain

key drivers for innovation and entrepreneurship, however, the low rate of family-business

survival highlights the problems attached with such businesses. Entrepreneurship can be

viewed as a natural outcome of the family-business because if there is a desire to survive

then either the present or the future generation need to create and evolve but not

necessarily bound by the predecessor’s past. The entrepreneurial spirit determines whether

the current use of resources suits the environmental conditions in any given time and

space.

The research has broader applications depending on the local variable scope. Definition of

a “long-term sustainable luxury-family-brand” model is fluid in nature as to precise

meaning but given the nature of a traditionally acknowledged luxury good and service

provides opportunity for growth, as enhanced luxurious experiences create more satisfied

and loyal customers.

Due to very different resource and capital dynamics, large and powerful retailers are able

to devote significant efforts to project a coherent and consistent brand image to customers

and other stakeholders. The result is higher failure rates for family-businesses which are

often smaller and unable to compete against giants of retail across any market or segment.

This research provides some ideas to help family-businesses compete.

The optimal integration of the family and the business means comprehensively modelling all relevant subsystems relative to the family firm and recognising the interrelationships and overlaps amongst all subsystems (Heck et al, 2008).

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It is a strategic-level study for a family business. External customer and market analysis

will be part of further actions across various sectors but researchers must recognise that

only if there is strategic initiative, then the resources can be redirected and participation of

others is possible to start and complete such a strategic manoeuvre.

5.5 Conclusion

This research reminds marketing practitioners of the difficulties thwarting family-

business’s long-term success. Guiding such businesses towards long-term sustainability

bears a heavy burden involving understanding the complexities inherent in practice.

Focusing on and building a valuable brand image is central to long-term family-business

sustainability. The brand markets the retailer and features in the consumer’s decision-

making processes. If the image is congruent with the experience the consumer is seeking,

then the engagement of a co-creation exchange process is more likely. In other words the

customer is going to come into the retail store and the business can make more money.

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APPENDICES

Appendix One – Pre-Qualifying Letter (example to a family-business retailer)

Dear (name)

I am completing the final year of my MBA in Retailing and as part of this exercise;

my dissertation will be based on marketing of a family-business retailer, more

specifically a luxury-oriented retailer, such as your respectful business. My research

is aimed at identifying what specific elements of branding are considered important

for long-term family-business success. I have prepared an interview session

covering various topics consisting of the relevant information. As part of the

process, I intend to interview several retailers to gain their insights and reflections of

experiences over the years in the various aspects of retail marketing.

The areas we will be talking about include retail marketing, branding (specifically

luxury-oriented) and how these affect long-term family-business sustainability.

Some of the presumptions I have made include that the brand image and luxury

branding are more relevant than other factors. The interview is designed to capture

retail practice and how it compares with theories. More detailed information is

attached including a list of topics and examples of questions I will be asking during

interviews. I look forward to an interview at a time and place most convenient.

Yours sincerely

Deeman

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Appendix Two - Interview Details

Interview opening;

My MBA dissertation is generally about retail marketing; more specifically it is

about family-businesses and branding. Your family-business provides an ideal case

study to explore branding options available for such a retailer. In addition, your

experiences as an entrepreneur and business leader will provide invaluable insights.

Generally a jewellery retailer competes with many small and unbranded companies

and only some are branded retailers. Intense competition exists among low-priced

budget style retailers whereas up-scale retailers distance themselves from this sector

by emphasising quality, branding and services.

Developing and managing a brand that ensures long-term family and business

success is a complex task. Research shows that a retailer usually has a very

different image of the brand compared to the image held by the customer.

Hopefully this research will assist in your family-business growth. Please answer as

openly and is as much detail citing examples from experiences when you can.

[Interviewer Note;

Concepts include re branding; image; brand equity; luxury-branding, brand building

feelings, family-business branding (independent variables); these are the presumed

cause having a presumed effect on the;

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Dependant variables including concepts of family-business achievements –

financial, functional, structural, human-capital, transactional and procedural

improvements

The narrative will be used to analyse and confirm (or deny) that;

Branding contributes towards family-business achievements;

Branding stabilizes disruptions during times of change;

Branding enhances processes and transactions during times of stability;

Branding contributes to long-term family-business sustainability.

This method will test the Branded SFBT model hypothesis and predict how varying

branding variables affects the family-business.]

Interview Topics

i. Retail Marketing

ii. Family-Business

iii. Branding

iv. Leveraging the Brand to add values

i. Retail Marketing

[stimuli – the retail marketing process figure]

General overview –– many issues that have no right or wrong answers.

Talk about retail business marketing practice generally and specifically for a

luxury-based family-business-brand using Rolex or other retail examples that

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you are familiar with, in New Zealand examples are Pascoes and Michael

Hill etc.

ii. Family-Business

General business – past – present - future

[use SFBT as visual stimuli- maybe talk about it]

Achievements;

Functional integrity

Human capital growth

Financial soundness

Structural integrity

Long-term sustainability

Community/ family/ business links

Stabilise disruptions during change

Enhance processes and transactions during times of stability

iii. Branding

General;

Role of brand

Identity of brand

Brand equity – [stimuli brand equity chart]

Luxury brand

Brand building feelings

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Family-business brand

Specifics for retail store image - [stimuli – list of store image variables]

Implications of branding on family-business achievements (above).

Brand Image and Equity

What does the retailer believe the brand image / reflection of the business is?

Why, examples of past doing things differently? Now changed? Why?

Does Luxury-Branding apply? – 10 characteristics Yes/ No/ Maybe + Why?

Keller identifies the ten defining characteristics of luxury brands as;

i. Maintaining and controlling a premium image is a priority;

ii. Involves the creation of many intangible brand associations and an

aspirational image;

iii. All aspects of the marketing program must be aligned to ensure quality

products, services and pleasurable purchase and consumption experiences;

iv. Brand elements besides the name, such as logos, symbols, packaging,

signage etcetera, can be important drivers of brand equity;

v. Secondary associations from linked personalities, events, countries and other

entities can be important drivers of brand equity for luxury brands;

vi. Must control distribution via a selective channel strategy;

vii. Must employ a premium pricing strategy with strong quality cues and few

discounts and mark downs;

viii. Brand architecture must be managed very carefully;

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ix. Competition must be defined broadly because often competing with other

luxury brands from other categories for discretionary consumer dollars;

x. Must legally protect trademarks and combat counterfeits.

Brand-building feelings are critical to luxury brands and may come in various forms and

across varying target market segments (Keller 2009). Six important brand building

feelings are (Kahle et al 1988);

i. Warmth; soothing, sense of calm or peacefulness feelings making the consumer feel

sentimental or affectionate towards the brand, for example Hallmark.

ii. Fun; joyous and cheerful feelings, for example Disney.

iii. Excitement; makes consumers feel they are experiencing something special and

makes them feel ‘alive’, for example MTV.

iv. Security; comfort and self-assurance, for example AIG insurance.

v. Social approval; consumers experience positive feelings about reactions of others, for

example Mercedes.

vi. Self-respect; consumer feels better about themselves, for example tide laundry

detergent.

What expectation or promise does your (family-business) image create & if

luxury then bigger promises?

What sort of family input/ involvement in maintaining or building image; what

is role and how significant? Why?

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What are some specific elements that can enhance your family business

brand?

Examples of types of Questions asked during interview

Does the retailer consider itself a luxury-based-family-retail business and or

brand?

Which elements are more important?

Other elements considered vital for such business?

Will adding luxury brands to portfolio add value to the family business?

Will history, heritage and experiences help the brand by creating a myth that

taps into enduring consumer hopes and dreams (Holt 2004)?

What can you tell me about your brands?

Is it what you had always wanted?

Could it be better?

How? How long did it take to achieve?

Why?

What aspects do you consider important/ have relied on in past to achieve

brand/ business goal?

Was your branding considered an integral element or just another part of the

general business – are there other more important aspects?

What is the problem in the business/ organisation?

Is it branding/ marketing related?

To what extent is branding a concern? What are other important concerns?

83

How do you see your brand?

Using examples of familiar brands – what brands would your business aspire

to? Why?

How do your customers see the brand?

How do your suppliers see the brand?

Most jewellers started as small family business before becoming ‘big brands’

eg. Michael Hill, Pascoes etc. Would you aspire to grow to such level of

recognition?

Has branding/ marketing created a sustainable/ recurring revenue stream

from regular customer base?

Or is the overall approach more product-oriented (tangible) vs service/ other

intangible elements or cognitive feelings toward a brand.

Decision making re price, place, product, range of brands & brand

extensions.

iv. Leveraging the Brand to Add Value

Understanding and satisfying customers (retail marketing);

Who are our customers? Who are not? Can we identify any changes?

Can we identify distinct groups of customers? Do they want different things

or have different needs?

How do they like to shop and what is important in making their buying

decisions?

84

Where do they prefer to shop and what factors determine where they choose

to shop?

What differentiates your business from the competition?

What does all of this mean for the business?

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