Student ID:1817383 Anglia Ruskin London University

PERCEPTION OF RISK AND ELABORATION OF LIKELIHOOD MODEL CRITICAL ANALYSIS APPLIED TO THE UK ELECTRIC CAR MARKET
KELLER BRAND EQUITY MODEL CRITICAL ANALYSIS IN APPLICATION TO NIKE AND ADIDAS UK HIGH STREET RETAIL DIVISION.
Student ID:1817383 Anglia Ruskin London University
PERCEPTION OF RISK AND ELABORATION OF

LIKELIHOOD MODEL CRITICAL ANALYSIS APPLIED TO
THE UK ELECTRIC CAR MARKET
KELLER BRAND EQUITY MODEL CRITICAL ANALYSIS IN

APPLICATION TO NIKE AND ADIDAS UK HIGH STREET
RETAIL DIVISION.
Anglia Ruskin London University

Module: Marketing Communications
Word count: 3060
Student ID: 1817383
1
Introduction
When customers need more information, misinterpret a brand’s image or the brand
proper meaning, the marketing communications enable the managers to understand
and communicate to the audience the correct information and message using
practical marketing communication concepts and models. (Fill and Turnbull,2019).
The aim of this paper is to critically analyse in the first part, how the concepts of
Perception of risk and Elaboration likelihood model are used in the creation of
marketing communication strategies in UK electric car market, and to compare and
contrast two competing high street clothing retailers from UK thru their branding
strategies using Aaker or Keller brand equity models, in the second part.
Task 1 A - Perception of risk analysis in the UK electric car market.

Perception of risk is an integral factor of consumer behaviour, and it helps to decode
the information-searching attitude and the consumer purchase decision-making
(Maziriri and Chuchu, 2017).
The concept of risk increased his popularity in the field of economics starting with
1920s (Dowling and Staelin, 1994), when economists such Keynes and Knight start
researching the concept of risk through the branch of mathematics called Probability
theory (Ward, 2008). Bauer (1960) initiate the concept of “Perceived risk” to the
Marketing literature defined as the unknown and potential unpleasant results of a
proposed purchase, and later Srinivasan and Ratchford (1991) has been used the
concept of perceived risk as an explanatory variable in experimental studies on
consumer behaviour.
To summarise, the Perception of risk may be considered a marketing value created
by the presence of uncertainty and can be reduced with the reasonable use of
Marketing Communications (Fill and Turnbull,2019).
The Marketing Specialists breakdown the perception of risk concept into six markers
accordingly with the main types of perceived risk. The six main types of perceived
risk are: the performance risk, the financial risk, the physical risk, the social risk, the
ego(psychological) risk and the time risk (Stone and Gronhaugh, 1993).
Considering the above table, the perception of risk may influence in different ways
the UK electric vehicle consumer behaviour.
2
Firstly, the performance perceived risk in UK electric car market refers to the
uncertainties of electric vehicles not performing as expected. The main concerns are
about battery charging time and autonomy, and the weight and potential hazards
encountered in electric vehicles design (Cheron and Zins, 1997).
On the other hand, EV manufacturers are working to increase, the range, speed and
safety with every new model or feature, and their efforts are supported as well by
strong government policies (Cheron and Zins, 1997).
To summarise, the performance perceived risk is real, and weights very much in the
consumer purchase decision process. As a MARCOM Manager I may focus on
performance perceived risk
aspect with a bellow the line
approach in order to update the
consumer about the EV
technology available with more
accuracy which may increase
the post purchase satisfaction,
and most of the marketing
communications will gravitate
around the topic of informing the
customer that EV vehicles
performances are not limited
anymore and may equivalate the
combustion vehicles offer.
Another important aspect in consumer Perceived risk toward UK EV market is the

financial perceived risk which is referring to the considerable financial level of risks
that many people are not willing to take very easy for products that are unfamiliar,
and where direct experience and hence information are reduced (Fill and
Turnbull,2019).
However, the financial risk of buying an EV in UK is constituted from the initial
purchase financial effort plus the cost of ownership (GOV.UK, 2015). As a perceived
risk reduction, offers of well-designed financial incentives plus non-financial
incentives (and possible future investment in public charging-stations) may be the
most efficient motivator (GOV.UK, 2015). Moreover, private UK EV owners main
cited motivation for buying an EV is saving money on fuel costs (GOV.UK, 2015).
As a result, Marcom managers should use as a financial risk perception control
factor the combination of the purchase and operating expenses hence, to identify the
most economical choice of vehicle for every related market segment (Palmer et al.,
2018)
A third aspect in risk perception is the physical risk perception. Physical risk refers to
the potential threat to an individual’s safety, physical health, and wellbeing (Lu et al.,
2005).
Despite the fact that the number of registered electric vehicles, were 30% less likely
to be involved in an accident than ICE vehicles, there are associated risks and
concerns towards the safety offered by the EVs. One of the debated risks is the low
noise in operation who may decrease the perception of the vehicle by other traffic
participants (Morgan et al., 2011). A second customers physical concern arise from
the lithium batteries reliability. Majority of EVs are powered by rechargeable Lithium-
3
ion batteries which are quite new in automotive industry and cannot present relevant
long-term data about the safety.
However, theoretically, electric vehicles are highly safe, and the main danger may
appear when the lithium-ion battery is damaged by physical damage or high
temperatures (Neill, 2020). Moreover, the available data revealed that in 2020 the
London Fire Brigade dealt with 1,021 petrol and diesel fires and just 27 EV fires
(Neill, 2020).
To summarise, the evidences are in the favour of EV technology and the physical
risk is not directly related with the EV himself but with different hazards which are
constantly addressed and corrected by the EV manufacturers.
As a result, the marketing communications are keeping in mainstream thru channels
like print and social media, the low figures of recorded accidents related with EVs.
Another perceived risk aspect is the social perceived risk. Usually, individuals have
the subjective norms that they are concerned about the opinions of their social and
familiar environment, and if their intentions would be approved or disapproved by
people surrounding them (Nasir et al., 2015). As a result, the EV potential buyer
depend heavily on the community opinion, and despite the fact that EVs are
identified by the large majority of society as an excellent solution for issues such oil
dependency, global warming and pollution, as well as a modern and responsible
personal image upgrade, the market penetration of EVs is relatively low and keep
the social perception divided between the zero emission advantage and the pollution
resulted from battery recycling and electricity overconsumption (Schwanen, 2019).As
an MARCOM approach, may consider that competing EV manufacturers can act in
partnership to achieve a common goal: critical mass, where the more EVs brands
are in the market, they will communicate better, hence, more EVs consumers will
receive the right information helping them to acquire awareness of this new product
(Cherubini et al., 2014).
Close to the social

perceived risk stands the
Ego/ Psychological
perceived risk.
The psychological risk
refers to the probability
that a product produces an
inconsistency with one’s
self-image (Li et al., 2020).
Moreover, the
psychological risk
represents a mediating
function for other
dimensions of risk (Stone
and Gronhaugh,1993).
The studies showed that
the demand for EVs in UK
is affected by the
psychological factors,
which determine customers’ preferences (Slowik et al., 2016). As a result, having in
focus the emotional responses to EVs, two main segments are identified as having
4
similar likelihood of buying an EV. The two main segments are the Early Adopters
and Keen Green, and both have strong pro-environmental and EV ownership
associated positive self-identity attitudes. (Gov.Uk, 2015).
Another dimension of risk is the time perceived risk (Stone and Gronhaugh,1993).
Time perceived risk dimension refers to the possibility that a customer may need too
much research time for the right opportunity cost which will lead to a purchase
decision, or the purchase process will require too much time (Dowling and
Staelin,1994).
However, it should be noted that there is often a weak rapport between the
knowledge for making a purchase and the intentions. This reveal that having enough
time to research accurate information related to an EV purchase decision is not
sufficient for decision-making, and underlying attitudes and beliefs related to this
type of vehicle might be a more important decision factor. (Ajzen et al., 2011).
In the United Kingdom, the diffusion of Electric Vehicles (EVs) result in the adoption
of a low-carbon mobility system and the implied reduction of fuel cars use
(Majali,2020). However, the progress in the sales of EVs will depend heavily on the
customers perception (Thøgersen et al., 2020).
To examine the risk perception related with an EV acquisition by a UK customer,
numerous measures for every risk dimension are necessary, and is unlikely that
focusing on only one aspect will capture the correct dimension of EV UK customer
attitude (Stone and Gronhaugh, 1993).
In the composition of marketing communications as a perceived risk detractor,
marketing managers, should have in attention that the consumers of EVs are willing
to accept the challenge and may understand and accept the related hazards or risks.
Buying new technology such EVs will predispose the customer to see EVs as an
opportunity for psychological gratification, which, in turn, leads them to make a
primarily emotional and status-seeking purchase (Rogers, 1983).
Moreover, for the majority of customers, environmental concerns and the opportunity
to save costs are the primary reasons against the internal combustion engine
options.
The above statements are reinforced by a KPMG research on a sample of 200
managers from the automobile industry who suggest that the potential customers will
continue to place high importance on the cost on fuel. In addition, the security and
the image of EVs is confirmed, and high technologies features such as autopilot or
AI-enabled have increased. In this context, the financial risk perception become less
important and setting a higher price range may be an opportunity for cultural elitism,
hence an inhibitor for the social perceived risk (KPMG, 2011).
TASK 1B - ELABORATION OF LIKELIHOOD MODEL adapted to UK EV market
The Elaboration Likelihood Model developed by Petty and Cacioppo in 1981 is

presented as a framework for understanding attitude formation and change towards
products and services. However, the model has a number of limitations relevant to
applications in consumer attitudes and marketing.
5
The elaboration of likelihood model (fig 3.3) indicates that there are two routes to
persuasion, the central route and the peripheral route, which can account for all of
the various theories of attitude change ((Fill and Turnbull,2019).
In the central route, attitudes are processed by meticulous consideration and
inclusion of information relevant to the attitude object or issue. On the other hand, in
the peripheral route, attitudes are processed without active thinking toward the object
and its attributes, but rather by associating the object with simple positive or negative
stimuli or by using “cognitive shortcuts" (Fill and Turnbull,2019).
The electric vehicle UK market may be analysed in regards of the two main
segments, peripheral and central routes reflected in the elaboration likelihood model.
The segments are balanced in terms of attitude variables and high or low levels of
involvement.
- If the level of elaboration is high, EV sellers should go down the CENTRAL route to
increase tendency of customers to buy the electric car. In their creative might use
facts and figures, technical detail and rational arguments. These are called rational
cues (Dampare, 2021).
- If the level of elaboration is low, EV sellers’ communications should go down the
PERIPHERAL route to attitude change, and their creatives should use high imagery,
less technical details, and numerous emotional messages. These are called
emotional cues (Dampare, 2021).
The central route in the process of purchasing an electric vehicle, is appointing the
available positive figures regarding the performance of the EVs and the detailed
6
technical specifications promoted through marketing communications channels.

Majority of the customers included in the central route segment are early adopters
and have high income and high education.
The peripheral route is specific for customers who want to buy an electric vehicle,
but they don’t have time, motivation or enough knowledge available to process the
purchase. However, they have high income and low levels of perceived risk.
The elaboration of likelihood model is underlining well the innovative and dynamic
EV offer from UK. An important advantage of this concept is that is easy to adapt in
order to identify and describe the UK EV customer typology. On the other hand, this
concept cannot categorise clearly if the customer emotions resulted from the attitude
formation through both routes are different.
Addressing both routes may support the appealing image for an EV, and that was
becoming mainstream when Tesla EV manufacturer launched the model S which
was promoted both for technical specifications and award-winning design (see Fig.
007).
TASK 2 - KELLER model explained trough two UK clothing retailers case study
Attaining brand equity is one of the major goals for an organisation’s marketing
Managers. This can be addressed in various ways, including using two models
developed by brand management specialists, Kevin Lane Keller and David Aaker.
Analysing the Keller model applied in the study of two major clothing retailers from
UK high street market may appoint that, brands are symbols that reveal the way they
are positioned in the minds of stakeholders, and which, ideally match their
expectations through brand usage and performance smart initiatives. Successful
brands as Nike and Adidas deliver consistently on their promises, by meeting or
7
overcoming expectations, and in doing so reinforce the companies brand equity

(Keller,2009).
Brands include both rational and emotional elements which need to be developed in
sequence in order to build consistent brand equity or value.
The Keller model present the brand-building processes as a series of levels within a
pyramid (see Figure 2.1). The rational blocks are representing the left-hand side, and
the blocks on the right-hand side reflect the emotional route.
The brand-building process contain four main levels: identity, meaning, response
and resonance.
Identity. The first building block requires that customers are helped to identify with
the brand, to enable them to make associations with a specific product class or
customer need (Hayes and Kindness,2021). Nike and Adidas are widely
recognisable from their popular logos and designs. The symbols, designs and
especially the logos are used by the sport retailers to identify everything related with
their brands. As a result, their brands are supported with strong memories and
perceptions who quickly evoke in customer mind the branded products in a buying
situation (Verb,2019).
Meaning. Customers need to clearly understand what the brand stands for, and to do
this, numerous connections need to be established with various tangible and
intangible brand associations (Keller, 2009). Athlete endorsement may be
considered the strongest point in the success of Nike brand. Sponsorship,
advertising and experience focused retailing are the main channels that Nike utilise
to enhance its brand awareness (Lin,2017)
On the other hand, Adidas employ the same strong approach toward athlete
endorsement. However, their main channels to develop brand awareness are the
digital marketing, open-source collaboration and consumer premium relationship
(DAN,2020).
Responses. At this stage customers should be encouraged to provide responses in

terms of their opinions and evaluations. Their feelings towards the brand reflect their
emotional reaction (Keller, 2009). The imagery of both Nike and Adidas set the
standards on retail for many years reinforced by the legendary designs used and
relaunched by the sport clothing giants. Moreover, both brands are using instore
technology to personalise the products with the customers ideas, and to receive
direct feedback (Kim and Sulivan,2019). Adidas is offering products to be tested to
the Adidas Runners Club during the sessions and Nike offer a gym area and aerobic
classes to the Nike online members directly in the big branches. As a result, the
customers are getting involved in checking the quality of the products and in the
points of sale feedback process (Kim and Sulivan,2019)
Relationships: the top of the pyramid represents the final step, the development of
an active relationship between customers and the brand. This is referred to as
resonance, which is the ‘intensity or depth of the psychological bond that customers
have with the brand, as well as the level of activity engendered by this loyalty’
(Keller, 2009).
The following companies have been successful in using empowerment as an
emotional branding strategy (Kim and Sulivan,2019)
8
Both brands focus their strategies in increasing consumer involvement and the
emotional bonds. Secondly, Nike and Adidas retailers can provide opportunities for
their consumers to personally identify with the brand’s products. As the costumers
associates their life story with the brand narrative, a powerful consumer-brand
emotional bond is created, hence the increase of their involvement in acting as a
brand ambassador. Lastly, the discussed brands can empower customers to achieve
their goals and express their personalities, leading to true brand loyalty (Kim and
Sulivan,2019).
An example of how Nike is building business equity on high street is the NIKE
TOWN from Oxford street. As the name suggests, the shop is a concept ‘town’.
Modules with building shape, each housing a specific sport, and surrounding a
central square with a 3-storey high, 360° projector screen – which display every 20
minutes sporting images (Londowntown,2020).
Niketown is created as more than just a shop and every week they put on special
events, athletes come in for interviews, and is hosting a running club. Since opening
in summer 1999 it’s become a London tourist attraction (Londowntown,2020).
On the other hand, Adidas is growing their brand equity through a popular running
club called Adidas Runners London, and a sport tracker application who pulls
advertising for their high street locations (Nazir, 2019) The flagship of Adidas is
27,000sq ft on Oxford Street named "most digital store to date" which include over
100 digital touch points and high-tech changing room with interactive mirrors (Nazir,
2019)
The brand value of Nike has

constantly grown and reached
34.4 billion USD in 2020. On the
other hand, Adidas was valued at
approx. 12.07 billion USD in
2020.
Their brands value is supported
by highly recognisable logos and
appealing slogans (Sabanoglu,
2021).
Nike is clearly the leader brand in
UK high street clothing market,
and this is demonstrated by the
available charts regarding the
brand awareness and the
revenue. But Adidas is a very
close competitor of it. In my point
of view, it’s hard to say which
brand is leading the UK high
street sport clothing market.
However, certainly the two
brands are giants and their marcom communications are highly dynamic which might
help to create a continuous constructive competition in the UK clothing retail market.
9
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PERCEPTION OF RISK AND ELABORATION OF LIKELIHOOD MODEL CRITICAL ANALYSIS APPLIED TO THE UK ELECTRIC CAR MARKET