Background: Following the development brought by the digital age, social networks and consumer behaviour has significantly changed. The network connectivity of WEB 2.0 enables information to spread at an accelerated rate to a wide scope, creating viral demand. This phenomenon presents an opportunity for brands to increase their customer base. Building brand resonance through brand equity management will result in a stronger brand-to-consumer relationship from viral demand, leading to improved customer retention and overall brand growth. Purpose: This paper focuses on theory development of Kevin Keller’s (1993) CBBE model. The remodelling aims to strategize brand equity management to optimize long-term customer retention from viral demand based on Generation Z consumer behaviour. The framework provides value for brands as it allows to recognize key drivers influencing Gen-Z's customer retention within the context of virality. Method: The study follows a qualitative design, which is inspired by grounded theory methodology, enabling us to develop a framework based on the CBBE-model (Keller, 1993). An open-ended survey was conducted to understand Generation Z consumer behaviour during viral trends. The survey was systematically analysed, and empirical conclusions were made, respectively. Conclusion: An interest in product over brand during viral trends disrupts the customer retention longevity, explaining why the individual Gen-Z customer lifetime is rather short lived. Furthermore, the proposed CVRM model strategizes how to (1) create willingness for the customer to return and (2) how to prolong customer retention and thus generate long term benefits from a short-term phenomenon.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:hj-60822 |
| Date | January 2023 |
| Creators | Husain Jinnah, Aini Safiya, Ismail, Lolav |
| Publisher | Jönköping University, IHH, Redovisning, Marknadsföring, SCM, Informatik och Rättsvetenskap |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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