HOW OV-FIETS INFLUENCES CUSTOMER BASED BRAND EQUITY OF DUTCH RAILWAYS

Transcription

1 HOW OV-FIETS INFLUENCES CUSTOMER BASED BRAND EQUITY OF DUTCH RAILWAYS A study on Customer based brand equity of a sub brands contribution to a corporate brand Annette Lekkerkerker Dutch Railways / Abellio Kaj Mook Dutch Railways / Merseyrail Mark van Hagen Dutch Railways Pascal van Houten Dutch Railways / OV-fiets 1

2 ABSTRACT How a cycle rail rental bike scheme enhances the customer based brand equity of Dutch Railways (NS) Since 2008 NS has been offering the OV-fiets cycle rail rental bike scheme which turned out to be the best innovation in Dutch public transport of the last ten years; due to the simplicity and sympathy of the system accompanied with growing numbers of rentals and customers. The nation-wide scheme has over 225 rental locations, primarily at railway stations and transportation hubs. This study proves that the service OV-fiets does not only improve end-to-end transportation, but it additionally enhances the parent brand in many favorable ways. Based on academic Customer based brand equity models the study explored the influence of a sub brand on the parent brand. The relatively high level of Customer based brand equity of NS cycle rail scheme certainly has a positive impact on the parent brand NS. Particularly the dimensions brand performance, brand imagery and brand judgments benefit from the positive associations related to the cycle rail scheme. The general customer opinion about NS, indirectly of travelling by train, improved on aspects as reliability and value for money. Furthermore, the findings demonstrated a certain influence on the level of brand resonance, which results in increased loyalty and usage of both the train and the bike rental. The results provide valuable insights for NS, stakeholders and other public transport operators. For NS the impact of a sub brand, the cycle rail scheme should be considered as a chance to strengthen directly the sub brand and indirectly the corporate brand; because each appropriate investment in the sub brand will in its turn positively influence the corporate brand based on an excellent costs / benefit relation. For stakeholders and other operators the assessed research model can be applied in various contexts as a proven success guaranteed method to achieve the potential advantages of adding a complementary service to the 2

3 product portfolio. In addition, it shows how sustainable modes of transport, like cycling, can increase the attractiveness of public transport in numerous ways. Summarising, the case OV-fiets practically proves that it is unquestionably worth investing in the end-to-end journey and cycle rail schemes, as the profitable business itself increases patronage, complements the core business and adds value to the involved brands. Theoretically, the study about this successful cycle rail solution delivers a cost efficient and effective research based tool to build, manage and measure any type of brand alliances and optimise the spill over effects between the involved brands. Understanding the process behind the spillover effects will enable brand alliances to apply favorable brand planning from a strategic and financial attractive perspective. 1. INTRODUCTION This research investigates the contribution of a sub brand on the Customer based brand equity of a parent or corporate brand. The research is conducted in the context of the sub brand OV-fiets and the corporate brand NS. OV-fiets is a cycle rail rental bike scheme, currently one of the fast growing sub brands within the brand portfolio of NS. In this chapter the relation between these brands will be clarified as well as the internal motivation of the company for further investigation on this topic. Existing literature, relating to Customer based brand equity, seems to be more focused on the importance of Customer based brand equity, rather than how it can be accurately measured and effectively managed. From an academic perspective this research can be considered as a theory testing study. The aim is to assess existing theories of Customer based brand equity within the context of a brand alliance between a corporate brand and a sub brand. From a strategy / business development perspective the study provides substantial knowledge and a successful method of the way in which sub brands can be cost efficiently and effectively managed, delivering a beneficial influence on 3

4 both brands of the brand alliance. Therefore, for those managing or being involved in a brand alliance, the suggested method also brings new perspectives with regards to strategic policies and future investments. Additionally it provides marketing managers with complementary knowledge and practical tools in this field which helps in developing a structured, effective and cost efficient marketing strategy that benefits both the sub and parent brand. Background to the Research Project Since 2008 NS has been offering the OV-fiets cycle rail rental bike scheme which turned out to be the best innovation in Dutch public transport of the last ten years; due to the simplicity and sympathy of the system accompanied with growing numbers of rentals and customers. The nation-wide scheme has over 225 rental locations, primarily at railway stations and transportation hubs. The number of customers, rentals and rental locations has almost tripled in the last three years. The concept is specifically designed to provide train passengers and other public transport users with a quick and easy, low cost solution for the last mile. Consequently OV-fiets can be considered as the world s leading cycle rail rental bike scheme and is probably the only commercial viable rental bike scheme too. Five years ago the board of NS decided to invest in OV-fiets aiming for the indirect effects i.e. more train travelers. Later on, a positive effect has been noticed by increased media attention and a potential beneficial influence on the brand image of NS. Furthermore, both customers and stakeholders may perceive the brand NS more positive since the company offers OV-fiets. This study not only justifies the positive effects but also provides a measurable tool, based on scientific evidence, for strategy developers and marketers to effectively apply the method to increase sub brand benefits in their specific context. Aim and objectives 4

5 This study aims to prove whether the Customer based brand equity of the parent brand NS has been positively influenced by the sub brand OV-fiets. The results of the study will be used for future decisions regarding the strategic policy of and investments in the product OV-fiets and similar brands. Figure 1.1 presents the visualised field of research in the context of the brands NS and OV-fiets. Figure 1.1. Visualised research field regarding customer based brand equity in the context of NS and OV-fiets Previous research demonstrated that brand alliances may significantly influence the respective partner brands. (Simonin & Ruth, 1998) This research proposes that a sub brand might have an impact on the Customer based brand equity of the corporate or parent brand. These spillover effects will be measured and analysed in this study. Research question The research question is: How does the sub brand OV-fiets influences the customer based brand equity of the parent brand NS? In order to answer this question this study also clarifies related theoretical areas, such as brand equity, customer based brand equity and its function related to brand equity as well as the elements that are of influence to Customer based brand equity and how can it be measured. Ultimately the focus will be on how customer based brand equity is evaluated by customers in case of a brand alliance. 5

6 2. THEORY AND LITERATURE REVIEW What do we consider as brand equity? Brand equity reflects the attractiveness of a brand based on its name and image (Best, 2005). Keller (2008) defines brand equity as the differential effect that customer knowledge about a brand has on their response to marketing activities and programs for that brand. According to Rao (1999) a brand alliance is the situation in which two or more brands are joined together in some fashion. The situation of a brand alliance may have an influence on brand associations of each partner s brand (Simonin & Ruth, 1998). Brand equity versus brand value Although brand equity and brand value are closely related, figure 2.1 illustrates the differences between and functions of brand anatomy, brand equity and brand outcome (Dahlén, 2009). Figure 2.1 Framework of brand anatomy, brand equity and brand outcome. (Dahlén, 2009) Brand equity and profitability Brand equity is as a brand value generating factor. Some of the key benefits of high brand equity are increased customer loyalty, increased effectiveness of marketing communications, improved customer evaluation of brand extension (Aaker & Keller, 1990), improved consumer perceptions of product quality (Dodds et al, 1990), competitor immunity and consumer price insensitivity 6

7 (Erdem et al, 2002). These advantages finally have a positive effect on profitability and growth (Dahlén, Lange and Smith, 2010). Brand assets Several models measure brand equity from an internal, mostly financial, perspective. According to Aaker (1995) brand equity is a set of five categories of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value provided by a product or service to a firm or to that firms customers, or to both. (Leone, Rao, Keller, Luo McAlister, Srivastava, 2006). These brand assets can be categorised in the key elements brand loyalty, brand awareness, perceived quality, brand associations and other proprietary brand assets (Leone, Rao, Keller, Luo McAlister, Srivastava 2006). Perception or performance? Customers perceive and interpret brands differently, depending on the level of the relationship with these brands (Davis, 2010). A fascinating finding is that their impression of a brand influences the perceived performance of a product (Keller, 2008). For example, customers with a positive perception of a brand, most likely experience a higher performance of the product. This indicates that marketing investments are direct investments in the customers perception of a brand and, as an indirect function of that, in the customers perception regarding the performance of a product (Keller, 2008). Therefore, understanding the customer perception process and behavior is not only vital for effective brand management, but also a very effective tool in the context of a brand alliance by making optimal use of the favorable spillover effects. Keller s hierarchical model measures and manages brand equity from a customer perspective, suggesting that Customer based brand equity occurs when the customer has a high level of awareness and familiarity with the brand and holds some strong, favorable, and unique brand associations in memory (Keller, 2003). As illustrated in figure 2.2, it specifies each level in the process of building a strong brand. 7

8 Figure 2.2 Customer based brand equity model (Keller 2007) The model describes six dimensions of brand-added value, i.e. brand salience, brand performance, brand imaginary, consumer judgements, consumer feelings and, at the final top, brand resonance. Figure 2.3 presents a detailed impression of the six building blocks, each representing different dimensions of the relationship between the brand and a consumer. Figure 2.3 Six building blocks of Customer based brand equity model (Keller 2007) 8

9 Dimension 1 Brand Salience Brand salience refers to the identity of a brand by questioning Who are you?. This dimension measures the depth and breadth awareness of the brand. Dimension 2 Brand Performance Brand performance assesses the customer s perception of the functional performance of a product or service by measuring aspects as the perceived reliability, quality, effectiveness, style and price. Remarkably, the actual performance might differ from the perceived performance in the situation of a brand with strong associations as the performance is constantly influenced by the perception and imaginary of the brand. Dimension 3 Brand Imagery This dimension describes the way people abstractly think about the brand by assessing the intangible aspects of a brand, such as values, user profiles, heritage, experiences and memories. Brand image is continuously influenced by the perceived brand performance. It also works the other way around. Customers view brand performance from a functional perspective as the level in which the product fulfils the basic requirements. Imagery has been evaluated based on feelings regarding a brand in terms of value and meaning. The scores on these two dimensions indicate future brand loyalty (Keller, Strategic Brand Management, 2008). Dimension 4 Brand Judgments The third stage evaluates the response of the customer as a consequence of the perception of the performance and imagery. It relates to brand judgments and brand feelings or respectively the rational and emotional response. Judgements arise from a rational process in which customers evaluate the quality, reliability and superiority. 9

10 Dimension 5 Brand Feelings Brand feelings are the emotional feelings that a brand generates, such as warmth, pleasure, safety and self-respect. These feelings and judgments can be positive or negative and intense or mild and may have a favourable influence on consumer behaviour. Dimension 6 Brand Resonance Brand resonance has been achieved when the several dimensions of the previous stages are well established. It refers to the relationship and the intention of the customer to feel loyalty, engagement and commitment towards the brand. This results in a preferred and differentiated brand position, retention, high loyalty and the willingness to pay a premium price. This level is characterised by a high level of awareness and familiarity with the brand and a customer that holds some strong, favourable and unique brand associations in memory (Keller, Strategic Brand Management, 2008). How is Customer based brand equity influenced in the context of a brand alliance? The focus of this study is on a brand alliance between the sub brand OV-fiets and the corporate brand NS. According to Rao (1999) a brand alliance is the situation in which two or more brands are joined together in some fashion. The situation of a brand alliance may have an influence on brand associations of each partner s brand (Simonin & Ruth, 1998). In a cooperative arrangement, the equity of the corporate brand is intrinsically linked with the equity of the other brand (Durme, Brodie, Redmorem, 2003). Former research confirmed a certain influence on customer attitude, or the so-called spill-over effects, of an alliance between two brands. According to Simonin & Ruth (1998) customer s attitude influences the impressions and the image of each partner s brand. When the corporate brand plays a prominent role in the branding strategy, the corporate image is a particular relevant concern (Keller, 2002). Keller & Aaker (1992) concluded that successfully introduced brand extensions can lead to enhanced perceptions of corporate credibility. According to Davis (2010) a brand extension should strengthen, or add favorability and uniqueness to any already existing associations of the parent brand. Linking 10

11 the brand to another brand entity can create new brand associations but might also affect existing brand associations. Figure 2.4 shows that Individual brand characteristics, such as awareness, benefits, feelings, attitudes and experiences, from the corporate brand might be transferred to the sub brand and the other way around. Figure 2.4 Transfer of brand knowledge For example, strong, favorable brand feelings of the brand OV-fiets influence the feelings and attitude towards the corporate brand NS. Understanding the impact of the process of transferring or exchanging these associations offers interesting opportunities to exploit in a way that supports both brands of a brand alliance. Importance of strong, favourable and unique brand associations Brand associations play an important role in the Customer based brand equity creating process. In the context of two brands, these associations may influence each other. These three dimensions of brand associations, strength, favorability and uniqueness of the brand, play an essential role in determining the differential response. Strong associations represent relevant and consistent information to customers, favorable associations deliver effective benefits and unique associations create a distinguished brand. It is important to recognize that these three aspects are required in this order as just an unique association does not necessarily mean a favorable association. Furthermore, favorable and unique associations must be experienced by a strong majority of customers in order to be defined as a strong association (Keller, 2008). Measuring Customer based brand equity includes an evaluation of these associations as well as the level of brand awareness. These are covered in the Customer based brand equity model. 11

12 The role of points of difference and similarity In order to contribute to parent brand equity, a brand extension such as OVfiets, should strengthen or add favorability and unique associations to the parent brand and not diminish the strength, favorability and uniqueness of any already existing associations for the parent brand (Davis, 2010). Successful brand extensions should also represent some similarities and dissimilarities between the parent brand and sub brand, the so called points of difference and points of similarity. Points of difference are benefits or features customers strongly associate with the brand (Keller, 2009). They evaluate these features positively and believe they cannot find a similar brand product, which gives the brand a distinguished and less vulnerable, more competitive position. Three major criteria are essential in creating effective points of difference: 1. The associations must be desirable to customers and personally relevant, credible and believable 2. The associations must be deliverable by the company as the company must be able to profitably develop, maintain and defense the brand association 3. Customers must perceive the associations as distinctive and superior in comparison to competitive brands On the contrary, points of similarity are not necessarily unique features but can be comparable with other brands. Two types can be distinguished: category and competitive points of similarity. Category points of similarity: associations that are perceived by customers as essential in a certain product category Competitive points of similarity: developed to weaken the points of similarity of a competitive brand In the situation of a brand alliance points of similarity play an important role as the extension should fit in the brand portfolio and enhance associations of the parent brand (Davis, 2010). 12

13 3. METHODOLOGY The methodology starts with defining the research question. How does the sub brand OV-fiets influences customer based brand equity of the corporate brand Dutch Railways? The methodology of the research can be clarified as an: Ontology Epistemology Interpretism Inductive approach The study is based on an interpretism approach seeing that the objective of the study is to gain understanding of the research context. The study has an inductive emphasis to build understanding and knowledge regarding the phenomena Customer based brand equity in the context of an alliance. Part of the inductive research is collecting quantitative data which has been gained with a large sample of subjects, by conducting a survey under OV-fiets customers. Primary research selection of respondents The questionnaire was sent to all 85,000 OV-fiets customers. The sample of the first part of the research, assessing the sub brand OV-fiets, consists of respondents, which is 10% of the entire customer base of OV-fiets. The second part, which measured the influence of OV-fiets on the corporate brand NS, has been responded by customers. This amount of respondents is approximately 3% of the entire customer base of OV-fiets. Due to a technical error with the online survey application, the second part of the survey was exposed to less respondents. The gender of the respondents is distributed by 42% male and 58% female. Figure 3.1 Selection of respondents presented by gender 13

14 In addition, figure 3.2 presents the distribution of ages of the respondents. Figure 3.2 Selection of respondents presented by age Nearly 75% of the population is aged 40+. This might also explain the wide variety in usage situations of OV-fiets. The percentages above show a varied group of respondents which forms the ground for a representative outcome. 4. APPLICATION OF THE RESEARCH MODEL The research was conducted on the basis of Keller s conceptualisation of brand equity, the so-called Customer based brand equity model (2008). This model provides a suitable tool in this research context as the theory evaluates every stage of a relationship, from brand awareness to loyalty and engagement Structure The survey consists of two parts. The first part, which contained closed questions regarding Customer based brand equity of OV-fiets, investigated the actual Customer based brand equity level of this brand. This has been measured on the basis of the sub dimensions shown in figure 4.1. Each building block consists of several, in this context relevant, sub dimensions representing a different dimension of the relationship between the brand and a customer. These sub dimensions has been individually assessed to investigate the actual level of Customer based brand equity of a brand. 14

15 Figure 4.1. Selection of sub dimensions - OV-fiets The application of the theory needs to be developed in a way that suits the brand or brand context. Therefore, measurements should be tailored to the brand s context in order to deliver relevant and brand specific information. The second part of the questionnaire comprises similar measurements relating to Customer based brand equity in the context of a brand alliance. This will be measured according the sub dimensions shown in figure 4.2. Figure 4.2 Selection of sub dimensions NS (influenced by OV-fiets) 15

16 The findings on each sub dimension resulted in a total evaluation per dimension. The final evaluation of the dimensions provides a clear view on the established level of Customer based brand equity of the brands. The closed questions were evaluated by calculating the average percentages of each answer per question. This resulted in a general evaluation on each question, representing the results on the specific sub dimensions. All sub dimensions are equally weighted, which finally results in an overall evaluation for every dimension of Customer based brand equity. 5. RESULTS The first section investigated the actual level of Customer based brand equity of the sub brand OV-fiets. This paper only presents the most relevant conclusions. Customer Based Brand Equity OV-fiets The sub brand OV-fiets has established a high level of breadth Brand awareness which is the result of the wide variety of usage situations. Customers are highly satisfied about the basic functions of the product and the product s performance. Sustainability and reliability perceived scores are high, confirmed by 70% respectively 82%, which is particularly relevant in transportation and for a train operating company as customers rely on these aspects. Customers hold some strong, favorable and unique associations, primary about performance-related functions of the concept such as Ease of use and Freedom of movement. As illustrated in figure 5.1 customers also hold pleasant memories in mind regarding the brand OV-fiets. 16

17 Figure 5.1 Sub dimension Experiences (1) OV-fiets Additionally, a majority considers OV-fiets as innovative. In general, customers perceive the brand as superior and relevant and believe the brand adds something for them. Brand feelings were expressed positively as customers seem to associate cycling with positive feelings of comfort, freedom, health, fun and pleasure. Brand Resonance is in a development stage. The brand has established firm levels of Engagement and Attachment. However, there is still room for enhancement in this stage. Brand Loyalty has been further developed as there seems to be a large group of regular and loyal customers.. Figure 5.2 shows the high likability that customers would recommend OV-fiets to others. Figure 5.2 Sub dimension Consideration OV-fiets Reviewing these conclusions, it can be concluded that the brand OV-fiets has established a relatively high level of Customer based brand equity. 17

18 The highest stage of Brand Resonance provides room to enhance the bond with customers by enhancing aspects as Attachment and Engagement. Conclusions on influence of sub brand OV-fiets on Customer based brand equity of parent brand NS This section presents the conclusions regarding the second part of the research which investigates the influence of the sub brand OV-fiets on Customer based brand equity of NS. This section will therefore also provide the answer on the research question. Brand Salience The first dimension was measured by the sub dimension Depth Brand Awareness. Due to the varied response and the relative high neutral opinion, it is difficult to suggest a clear conclusion on this element. Brand Performance The second dimension examined the three sub dimensions Sustainability, Price / Quality ratio and Reliability. The sub brand OV-fiets has a certain influence on the perceived Sustainability of the corporate brand NS. The Price / Quality ratio measurement resulted in a relatively high neutral response. As another quarter of the respondents disagreed, a clear conclusion on this aspect is hardly definable. However, figure 5.3 confirms a certain influence on the perceived Price / Quality ratio due to the 25% agreeing respondents. Figure 5.3 Sub dimension Price/Quality ratio NS (influenced by OV-fiets) 18

19 The findings on Reliability show that nearly 20% of the respondents seem to be positively influenced on this aspect. Summarising these findings, it can be suggested that approximately a quarter of the customers perceives a certain positive influence on the sub dimensions Sustainability, Price / Quality ratio and Reliability. These aspects are particularly relevant in transportation and for a train operating company as customers rely on these aspects Brand Imagery The third dimension Brand Imagery was examined by the sub dimensions Imagery and Experiences. The findings on the aspect Imagery suggested that OV-fiets adds a certain innovative association to the brand NS as almost half of the respondents conveyed this renewed association, which is shown in figure 5.4. Figure 5.4 Sub dimension Innovative image NS (influenced by OV-fiets) Nevertheless, a dominant 38% of the respondents could not express a disagreement or agreement, which is a significant part of the population. The second aspect is Brand Experiences which measured to what extent customers hold more pleasant memories of NS. A dominant response resulted from this assessment as 70% of the respondents did not agree or was neutral, which does not provide a straight forward conclusion. Although, 30% of the population holds to some extent more pleasant memories of NS, since they know OV-fiets is a subsidiary of NS. Overall, for a significant part of the population innovative associations and pleasant memories are added to the corporate brand NS as a result of the sub brand OV-fiets. 19

20 Brand Judgments The fourth dimension Brand Judgments was investigated by the four sub dimensions Quality, Credibility and Considerations. The aspect Quality measures the general opinion about NS. The results showed that a sum of 36% of the respondents convey a positive influence on the general opinion about the brand NS. Nevertheless, a significant part of the population did not express this influence. The second aspect Credibility investigates the impact on the appreciation of the service of NS. The results showed that one-third of the population appreciates to some extent the service of NS more, since they know OV-fiets is a subsidiary of NS. Nevertheless, a noteworthy part of 40% of the respondents were neutral and still 18% disagreed which indicates that a potential positive influence is not confirmed by the majority of the population. Besides, figure 5.5 shows that 40% of the population expresses a certain positive effect on the way in which customers admire and respect the brand NS. Figure 5.5 Sub dimension Credibility NS (influenced by OV-fiets) The third sub dimension Consideration measures the so-called Word of Mouth aspect. The results demonstrate that nearly 50% of the respondents would probably recommend others to travel with NS. 20

21 Figure 5.6 Sub dimension Considerations Word of mouth NS (influenced by OV-fiets) Figure 5.6 shows the high likability that customers would recommend OV-fiets to others, which confirms confirm that the brand receives some serious consideration and recommendation in terms of Word of Mouth. Brand Feelings and Brand Resonance The influence on higher stages such as Brand Feelings and Brand Resonance did not deliver definite conclusions. The measurement on these dimensions delivered a relatively high percentage of neutral response. This might indicate that respondents encountered difficulties interpreting or answering these questions. Therefore, it is recommended to conduct further research on the dimensions Brand Feelings and Brand Resonance. Additionally, it can be considered that Brand awareness and Brand associations of the corporate brand NS might be (too) dominant in order to get influenced by higher levels of Brand Equity of the sub brand OV-fiets. Nevertheless, the findings do demonstrate a certain influence on the level of Brand Resonance confirmed by a quarter of the population. 6. CONCLUSIONS The study proves that OV-fiets has a certain influence on Customer based brand equity of NS. Acknowledging this influence will help in decision making processes concerning investments in the cycle rail brand OV-fiets. This study also illustrates that a sub brand with high brand equity should be considered 21

22 as a valuable asset and a chance to strengthen directly the sub brand and indirectly the corporate brand. Sufficient investments in the sub brand eventually deliver many advantages for both the sub brand and the corporate brand which is in particular interesting because of the excellent cost / benefit relation. The case OV-fiets practically proves that it is unquestionably worth investing in the end-to-end journey and cycle rail schemes, as the profitable business itself increases patronage, complements the core business and adds value to the involved brands. Theoretically, the study delivers a cost efficient and effective research based tool to build, manage and measure any type of brand alliances in order to benefit from the spill over effects between the involved brands. In the context of public transport these spill over effects can have a significant effect on relevant associations that customers hold, such as as reliability, general opinion, usage figures, loyalty and Word of Mouth. Understanding the process behind these spillover effects will enable brand alliances to apply favorable and effective brand planning from a strategic and financial attractive perspective. Recommendations to NS and similar businesses This research proves that the cycle rail brand OV-fiets has established a high level of Customer based brand equity. In order to maintain this favorable state, it is essential to keep investing in every dimension of brand equity and particularly the ones that require attention in the future in order to keep up to date. It is also recommended to cherish a sub brand as OV-fiets as its sympathy and likability delivers many benefits to the brand NS, such as increased patronage, a positive influence on several brand equity aspects, new strong, unique and favorable associations and a high probability of Word of Mouth. An example to achieve a multiply effect is to benefit from the positive evaluated dimensions, such as Word of Mouth, by developing a campaign that encourages customers to spread the positive word and recommend others to travel with NS. 22

23 Limitations The survey was responded for 97% by consumers, which was the approach of the research. Consequently, the conclusions are only applicable to actual customers. This means that this study did not investigate Customer based brand equity beyond actual customers or business customers. Furthermore, the findings are based on weighted opinions resulting in an average opinion of each dimension. Therefore, conclusions are based on average opinions of the entire customer base and do not apply to specific customer segments. For example, an investigation of Customer based brand equity within a population of so-called heavy users of OV-fiets would deliver different results than a research within a population of incidental users. Recommendations for further research Further research, based on a similar research model, can be conducted with a population of non-customers of OV-fiets, to gain a more general view on this topic. In order to assess Keller s conceptualisation in a similar context, additional research can be conducted in another industry. For future research it is also recommendable to carry out another approach by putting this context the other way around. For example, an investigation of the impact of a corporate brand on a sub brand because a corporate brand might have a high probability to influence another brand due to their power, size and reputation. BIBLIOGRAPHY Aaker, D. (1991). Managing brand equity; capitalizing on the value of a brand name. New York: The Free Press. Aaker, D. A. (1996). Measuring brand equity across products and markets. California Management Review;, Besharat, A. (2010). How co-branding versus brand extensions drive consumers' evaluations of new. Industrial Marketing Management, 2010, pp

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