Global Journal of Management and Business Research, E: Marketing, Volume 21 Issue 4

Table 1: Sales Strategies as viewed by different Authors Author Year Sales Strategy Description F. Robert Dwyer, Paul H. Schurr, & Sejo Oh 1987 Developing buyer - seller relationships Provides a framework for developing buyer-seller relationship that helps in formulating marketing strategy. Paolo Guenzi, Luigi M. De Luca, and Gabriele Troilo 2011 Customer Oriented Selling Explains how customer orientated selling leads to superior customer value creation, which involves greater efforts by salespersons in customer interaction. Chui-Hua Liu, Gwo- Hshiung Tzeng and Ming- Huei Lee 2011 Hybrid multiple criteria decision making strategy Gives out strategies to improve the sales of travel industry by providing models like DEMATEL and VIKOR for decision makers. William L. Cron, Artur Baldauf, Thomas W. Leigh and Samuel Grossenbacher 2014 Stragic role of the sales force This paper focus on how top-level executives use models of sales force performance to simplify the issue of sales force strategy. It identifies strategic and organizational concepts that distinguish the sales force efforts of competitors. Felix Zoellner and Tobias Schaefers 2015 Price – promotion strategy Explains the impact of different price - promotion types on sales and brand perception of German premium automobile brands. Nikolaos G. Panagopoulos, Catherine M. John- son and David L. Mothersbaugh 2015 Sales control as a strategy Explains the effects of sales control on the performance of the sales force. Ana Babic ́ Ro- sario, Francesca Sotgiu, Kristine De Valck, and Tammo H.A. Bijmolt 2016 Electronic word of mouth (eWOM) strat- egy Indentifies the degree of relation between eWOM and sales and its effectiveness across platform, product, and metric factors. a) Literature Review on Sub-Brands Brand equity has become the most important asset to a company (Aaker D., 1990 and Thakor, 1997). It takes a lot of money and time to establish a brand image in the consumer market. There exist high financial risks to enter in to new markets for consumer product manufacturers (Keller D. A., 1990). The cost of introducing a new brand in to consumer market is estimated to range above $50 Million (Keller D. A., 1990; Aaker D., 1990 and Katsanis, 1995). Therefore, companies go for brand extensions or sub brands to leverage the brand image of existing brands (PeterH. Farquhar P. M., 1990; Katsanis, 1995 and Pandit, 2013). This in turn saves costs for the company that would have occured due to the introduction of new brands (Katsanis, 1995; Siew Meng Leong, 1997; Thakor, 1997 and Harleen Kaur, 2015). Sub-brands can be decribed as products that are introduced combining the company name with the individual brand name (Aaker K. L., 1992; Katsanis, 1995 and Keller S. S., 2012). (Xie, 2007) When brand extension takes place, parent brand is used as a reference to evaluate the sub-brand (Aaker D., 1990 and Keller S. S., 2012). In contrast the sub brands can help the parent brands to help extend in to dis- similar categories (Keller S. S., 2012). Brand extension has been the key to strategic growth to many companies (Aaker D., 1990). There are three criteria’s on which the sub brand is evaluated; the quality of the parent brand, the extent of fit between the parent and the sub brand, and the relation between the parent and sub- brand (Keller D. A., 1990; Paul A, 2001 and Pandit, 2013). Corporate image has an effect on the brand image of a product; they enhance the perception of the sub brand (Aaker K. L., 1992). Yu Henry Xie (2007) argues that consumer innovativeness to try new products also has an impact on acceptance of sub brands. Extending in to sub brands has both benefits and challenges. Robert, Sandra and Whan (1991) identified the factors that differentiate successful and un- successful brand extension: product feature similarity and brand concept consistency. Further, the benefits and challenges of sub brands will be discussed in detail in the next section thereby giving an overall picture of the sub brand concept. III. M otives and B enefits of D eveloping S ales S trategies for S ub B rand Successful brand extension will stretch the brand and act as an asset by adding value to the company (Davis, 2002). Introducing a sub brand minimizes the risk of failure (Aaker D., 1990; Katsanis, 1995). Also, it decreases the cost of introducing a new brand, as it is associated with the parent brand (Keller D. A., 1990). Customers hesitate to try new products, due to which brand extension through sub brands will help companies to remove the clutters in the mind of © 2021 Global Journals Global Journal of Management and Business Research Volume XXI Issue IV Version I Year 2021 ( ) E 14 Sales Strategies of Sub Brands