Nostalgia Marketing as an Effective Mechanism for Maximizing Brand Value: A field research for LC Waikiki Fashion Stores Group in Iraq
DOI:
https://doi.org/10.26668/businessreview/2022.v7i5.e874Keywords:
Nostalgia Marketing, Brand ValueAbstract
Purpose: This research aims to verify the extent of the impact of nostalgia marketing as an effective and modern strategy on the brand value.
Theoretical framework: the research is to shed light on an important and fundamental aspect of marketing, which is fashion marketing, and how stores that are interested in fashion can follow modern and basic strategies in maximizing the value of their brand.
Design/methodology/approach: The researcher targeted a sample of (760) customers who frequent the different branches of LC Waikiki, and used the questionnaire as a means to collect information from customers, and the researcher used (SPSS) program to analyze the data
Findings: The most important thing that has been reached is that nostalgia marketing is an effective and basic strategy for LC Waikiki store branches in Iraq that it uses to maximize the value of its brand and targets people who have specific affection and memories for clothing brands.
Research, Practical & Social implications: The research examines an important basic angle, which is fashion marketing, and because of its effects on the social reality in Iraq, and due to the large number of fashion trades, it has become necessary to find different strategies to implement them in order to reach success.
Originality/value: Examination of a quantitative theoretical framework and data analysis based on advanced statistical methods, and arriving at a set of results for one of the most modern concepts, which is nostalgic marketing.
Downloads
References
Barauskaitė D. and Gineikienė, J. (2017). Nostalgia May Not Work for Everyone: The Case for Innovative Consumers. Organizations and markets in emerging economies. Vol. 8, No. 1(15).
Barrett F. S.; Grimm, K. J.; Robins, R. W.; Wildschut, T.; Sedikides, C., and Janata, P. (2010). Music-evoked nostalgia: Affect, memory, and personality. Emotion, 10(3), pp. 390–403. https://doi.org/10.1037/a0019006.
Belk R. W. (1990). The role of possessions in constructing and maintaining a sense of past. In M. E. Goldberg, G. Gorn, & R. W. Pollay (Eds.), NA - Advances in consumer research (17th ed., pp. 669–676). Association for Consumer Research.
Berthon J. P.; Opoku, R. A.; Pitt, L. F. and Nel, D. (2007). Brand management and strategic performance: some evidence from South Africa. Journal of African Business, Vol. 8, No. 2, pp. 27-40.
Cervellon M. C.; Carey, L., and Harms, T., (2012). Something old, something used: Determinants of women’s purchase of vintage fashion vs second-hand fashion. International Journal of Retail and Distribution Management, 40(12), pp. 956–974. https://doi.org/10.1108/09590551211274946
Consoli, D. (2010). Emotions That Influence Purchase Decisions And Their Electronic Processing. Annales Universitatis Apulensis Series Oeconomica, 11(2). Retrieved June 8, 2016 from http://www.oeconomica.uab.ro/upload/lucrari/1120092/45.pdf.
Corus (2015). The Importance of Building A Strong Brand Image (Rep.). London.
Cui, A. P.; Hu, M. Y. and Griffith, D. A. (2014). What makes a brand manager effective? Journal of Business Research, Vol. 67, No. 2, pp. 144-150.
Day G. S. and Wensley, R. (1988). Assessing advantage: A framework for diagnosing competitive superiority. Journal of Marketing, Vol. 52, No. 2, pp. 1-20.
Fahey L.; Srivastava, R.; Sharon, J. S. and Smith, D. E. (2001). Linking e-business and operating processes: The role of knowledge management. IBM Systems Journal, Vol. 40, No. 4, pp. 889-907.
Friedman L. (2017). Why Nostalgia Marketing Works So Well With Millennials, And How Your Brand Can Benefit. Retrieved from https://www.forbes.com/sites/laurenfriedman/2016/08/02.
Gupta, S.; Grant, S. and Melewar, T. C. (2008). The expanding role of intangible assets of the brand. Management Decision, Vol. 46, No. 6, pp. 948-960.
Gurav Y. (2020). Nostalgia Marketing – A Potent Tool for the Promotion of Products. Mukt Shabd Journal, Volume 4, Issue 1.
Hair, J. F. (2014). Multivariate Data Analysis: A Global Perspective; Pearson Education: Upper Sadle River, NJ, USA; London, UK, 2014; Vol.4, pp. 18–19.
Hartmanna B. J., and Brunk, K. H., (2019) .Nostalgia marketing and (re-enchantment. International Journal of Research in Marketing, pp. 2-18, https://doi.org/10.1016/j.ijresmar.2019.05.002
Harvey, S. (2017). Passion For The Past: Nostalgia Marketing And The Retro Revolution. Retrieved from https://fabrikbrands.com/nostalgia-marketing/
Hiscock, J. (2001). Most trusted brands. Marketing, 1 March, pp. 32-33.
Holak S. L.; Havlena, W. J., and Matveev, A. V., (2006).Exploring Nostalgia in Russia: Testing the Index of Nostalgia. Proneness. European Advances in Consumer Research, 7, pp.33-40.
Holbrook M. B., and Schindler, R. M., (1991) .Echoes of the Dear Departed Past: Some Work in Progress on Nostalgia.
Katherine A. Russel (2013). Selling the Past: Investigating the Effectiveness of Nostalgia Cues in Print Ads Targeting Millennials. Page No. 1-43.
Katija V. (2017). Retro Brands in the Retailing Environment: A Review and Research Prepositions. Faculty of Business Economics and Entrepreneurship.
Khan, K., & Hussainy, S. K. (2018). Nostalgic Advertising and Purchase Behavior. Proceedings of the Twelfth International Conference on Management Science and Engineering Management Lecture Notes on Multidisciplinary Industrial Engineering, pp. 29-40. http://doi:10.1007/978-3-319-93351-1_3.
Khoshghadam L.; Kordrostami, E., and Liu-Thompkins, Y. (2019). Experiencing nostalgia through the lens of life satisfaction. European Journal of Marketing, 53(3), pp. 524–544. https://doi.org/10.1108/EJM-10-2017-0806.
Lammersma M., and Wortelboer, A. (2017). Millennials purchasing the good old days : The effects of nostalgic advertising on brand attitude and purchase intention among millennials (Dissertation). Retrieved from http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-35641.
Lavie D.; Lechner, C., and Singh, H. (2007). The performance implications of timing of entry and involvement in multipartner alliances. Academy of Management Journal, Vol. 50, No. 3, pp. 578-604.
Lynch, J. and deChernatony, L. (2004). The power of emotion: Brand communication in business-to-business markets. Journal of Brand Management, Vol. 11, No. 5, pp. 403-419.
McGrath J. M. (2005). A pilot study testing aspects of the integrated marketing communications concept. Journal of Marketing Communications, Vol. 11, No. 3, pp. 191-214
Merchant A.; Ford, J. B.; Dianoux, C., and Herrmann, J. L. (2016). Development and validation of an emic scale to measure ad-evoked nostalgia in France. International Journal of Advertising, 35(4), pp. 706–729. https://doi.org/10.1080/02650487.2015.1090049.
Mudambi S. (2002). Branding importance in business-to-business markets: Three buyer clusters. Industrial Marketing Management, Vol. 31, No. 6, pp. 525-533.
Muehling D. D., & Sprott, D. E., (2004). The Power of Reflection: An Empirical Examination of Nostalgia Advertising Effects. Journal of Advertising, 33(3), pp. 25–35. https://doi:10.1080/00913367.2004.10639165.
Muehling D. D., (2011). The relative influence of advertising-evoked personal and historical nostalgic thoughts on consumers' brand attitude. Journal of Marketing Communications, 19(2), pp. 98- 113. https://doi:10.1080/13527266.2011.560613.
Muehling D. D., and Sprott, D. E. (2004). The Power of Reflection: An Empirical Examination of Nostalgia Advertising Effects. Journal of Advertising, 33(3), pp. 25–35. https://doi:10.1080/00913367.2004.10639165.
Pascal, V. J.; Sprott, D. E., & Muehling, D. D. (2012). The Influence of Evoked Nostalgia on Consumers Responses to Advertising: An Exploratory Study. Journal of Current Issues & Research in Advertising, 24(1), pp. 39–47. http://doi:10.1080/10641734.2002.10505126.
Pike, S. (2010). Destination branding case study: Tracking brand equity for an emerging destination between 2003 and 2007. Journal of Hospitality and Tourism Research, Vol. 34, No. 1, pp. 124-139.
Powell J., and Powell, P., (2004). Scenario networks to align and specify strategic information systems: A case based study. European Journal of Operations Research, Vol. 158, No. 1, pp. 146-172.
Raggio R. D. and Leone, R. P., (2007).The Theoretical Separation of Brand Equity and Brand Value: Managerial Implications for Strategic Planning. Marketing Faculty Publications. 10. http://scholarship.richmond.edu/marketing-faculty-publications/10.
Rubo Cui., (2015).A Review of Nostalgic Marketing. Journal of Service Science and Management,8, pp.125-131.
Sedikides C.; Wildschut, T.; Routledge, C., and Arndt, J. (2015). Nostalgia counteracts self-discontinuity and restores self-continuity. European Journal of Social Psychology, 45 (1), pp. 52–61. https://doi.org/10.1002/ejsp.2073.
Sierra J. J., and McQuitty, S., (2007). Attitudes and emotions as determinants of nostalgia purchases: An application of social identity theory. Journal of Marketing Theory and Practice, 15(2), pp. 99–112. https://doi.org/10.2753/MTP1069- 6679150201.
Srivastava R. K., Shervani, T.A. and Fahey, L. (1998). Market based assets and shareholder value: A framework for analysis. Journal of Marketing, Vol. 62, No. 1, pp. 2-18.
Tiwari M. K. (2010). Separation of Brand Equity and Brand Value. Global Business Review 11(3). pp.421–434.
VanVeckhoven L. D., (2020). Fashion Marketing: Keys to Successfully Growing Your Fashion Brand. Retrieved from https://hawkemedia.com/blog/fashion-marketing
Verplanken B. (2012). When bittersweet turns sour: Adverse effects of nostalgia on habitual worriers. European Journal of Social Psychology, 42(3), pp. 285–289. https://doi.org/10. 1002/ejsp.1852.
Webster F. E. (2000). Understanding the relationship among brand, consumers and resellers. Journal of the Academy of Marketing Science, Vol. 28, No. 1, pp. 17-23.
Wen T.; Qin T., and Liu, R. R., (2019). The impact of nostalgic emotion on brand trust and brand attachment: An empirical study from China. Asia Pacific Journal of Marketing and Logistics, 31(4), pp. 1118–1137. https://doi.org/10.1108/APJML-09-2018-0390.
Youn S., and Jin S. V., (2017). Reconnecting with the past in social media: The moderating role of social influence in nostalgia marketing on Pinterest. Journal of Consumer Behaviour, 16(6), pp.565–576. https://doi.org/10.1002/cb.1655.
Zhang Y., (2015). The Impact of Brand Image on Consumer Behavior: A Literature Review. Open Journal of Business and Management,03(01), pp. 58-62. https://doi:10.4236/ojbm.2015.31006.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Ahmed Dheyauldeen Salahaldin, Moamen Ahmed Hussein
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Authors who publish in this journal agree to the following terms: the author(s) authorize(s) the publication of the text in the journal;
The author(s) ensure(s) that the contribution is original and unpublished and that it is not in the process of evaluation by another journal;
The journal is not responsible for the views, ideas and concepts presented in articles, and these are the sole responsibility of the author(s);
The publishers reserve the right to make textual adjustments and adapt texts to meet with publication standards.
Authors retain copyright and grant the journal the right to first publication, with the work simultaneously licensed under the Creative Commons Atribuição NãoComercial 4.0 (http://creativecommons.org/licenses/by-nc/4.0/), which allows the work to be shared with recognized authorship and initial publication in this journal.
Authors are allowed to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (e.g. publish in institutional repository or as a book chapter), with recognition of authorship and initial publication in this journal.
Authors are allowed and are encouraged to publish and distribute their work online (e.g. in institutional repositories or on a personal web page) at any point before or during the editorial process, as this can generate positive effects, as well as increase the impact and citations of the published work (see the effect of Free Access) at http://opcit.eprints.org/oacitation-biblio.html