As seen in Table 12, SK-II has the highest attitude ratings of 251.3 out of 338.2. This shows that consumers evaluate SK-II to be the overall best product in terms of the abovementioned factors as compared to its competitors. However, both Lancome and Estee Lauder have similar ratings to that of SK-II at 245.4 and 248.6 attitude ratings respectively. This shows that consumers do not perceive SK-II to be extraordinary as compared to other brands but it still edges out by a little. In terms of the functional attributes of the products (effectiveness and quality), the three brands are fairly similar in the attitude ratings as we can see from the Fishbein model. However, the main factor that causes the differentiation in the overall attitude rating is that of brand reputation. SK-II is rated significantly higher than both Lancome and Estee Lauder, leading to be perceived as the overall best product. Further analysis is done based on attribute ratings of the 3 segments.
BRAND JUDGMENT
ANALYSIS
Table 12: Fishbein Model
RESONANCE
FEELINGS
IMAGERY
SALIENCE
PERFORMANCE
JUDGMENTS
IMPLICATIONS FOR SK-II:
Consumers’ attitude towards SK-II is rated most favourable according to our Fishbein model is due to brand reputation which increases brand superiority. Yet, the usage and trial rates of SK-II do not seem to be in line with SK-II being the best brands to go for when choosing premium skincare products. Hence, we decide to look at specific target segments to find out reasons why usage and trial rates are low.
Madam
Similar to the macro level, consumers’ attitudes from all segments towards SK-II are favorable and SK-II is satisfying their target segment of Madam well, especially on the brand quality and superiority.
However, more efforts need to be done for the Missus and Gentlemen segment.
Missus
For the Missus, while they rated the brand reputation to be very high which suggests they trust SK-II and its credibility, more can be done to improve their perception of SK-II brand quality. The lower effectiveness compared to the Madam can be boosted by improving trial rates of SK-II products such as giving out free samples. These will help improve the value of SK-II and allow the Missus to perceive SK-II as value for money rather than expensive, allowing SK-II to be in the brand consideration set.
Gentlemen
Likewise for the Gentlemen segment, the effectiveness and quality can be improved to convert the favorable attitudes into purchases since the Men segment already find SK-II products fairly affordable. By boosting those attributes, it will increase the motivation for the Gentlemen segment to buy the products.
Hence, we surmise that consumers do not necessarily always go for the highest rated brand as decisions can be made solely based on one most important factor such as price. SK-II should work towards increasing consumers' perceived brand value and increasing their motivation to purchase SK-II products.
Table 13: Attribute ratings based on the 3 segments
Madam
SK-II ratings for their main target segment: Madam is the highest especially for effectiveness and quality, while they rated the price of SK-II products to be relatively affordable compared to the Missus segment. Hence, this suggests that the Madam segment see much more value in SK-II products than the Missus. For the Madam segment, contrary to our initial findings that brand reputation is the differentiation factor for consumers, this shows that the high quality and effectiveness of SK-II products is more likely to attract the Madam segment rather than brand reputation which they rated lower compared to the other segments.
Missus
From the attribute ratings chart by the different segments, we can see that this segment rated the quality and effectiveness to be average while the price is seen as significantly more expensive than the other segments. This implies that they do not perceive the value of SK-II products to be worth the price they are paying for.
Gentlemen
For this segment, while they rated effectiveness and quality to be similar to that of Missus segment, they deemed the price of SK-II products to be affordable, which they rated the price to be similar to that of the Missus. This shows a higher potential for the Gentlemen to be the next target segment as compared to the Missus as they have higher willingness to pay.