Riding the Viral Wave: Generation Z consumer behaviour during viral demand in relation to Brand Management: A qualitative study on how to strategize brand equity management to prolong customer retention from viral demand based on Generation Z consumer behaviour.
2023 (English) Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE credits
Student thesis
Abstract [en]
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.
Place, publisher, year, edition, pages 2023. , p. 66
Keywords [en]
Virality, Viral Transmission, Brand Management, Generation Z, CBBE-Model, Customer Retention
National Category
Business Administration Applied Psychology
Identifiers URN: urn:nbn:se:hj:diva-60822 ISRN: JU-IHH-FÖA-2-20231834 OAI: oai:DiVA.org:hj-60822 DiVA, id: diva2:1763496
Subject / course JIBS, Business Administration
Supervisors
Examiners
2023-06-212023-06-072025-10-13 Bibliographically approved