MKT2BBM

Individual Assessment

Student name: Doan Hien Giang

Student ID: 21063269

Seminar tutor: Ms. Phan Thi Kim Ngan

Word count: 1680 words

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Table of Contents
Introduction .......................................................................................................................... 3
Brand context ........................................................................................................................ 3
Overview of brand ............................................................................................................. 3
Keller’s brand resonance model ......................................................................................... 4
Brand salience ................................................................................................................ 4
Brand imagery ............................................................................................................... 4
Brand performance ......................................................................................................... 4
Brand feelings ................................................................................................................ 5
Brand judgements .......................................................................................................... 5
Brand resonance ............................................................................................................. 6
Analysis of brand positioning ............................................................................................ 7
Target market:................................................................................................................ 7
Competitors ................................................................................................................... 7
Points of Parity .............................................................................................................. 7
Points of Difference ....................................................................................................... 7
Summary of key dimensions of brand performance related to the brand ............................. 8
Need satisfied/Category ................................................................................................. 8
Performance & Imagery associations ............................................................................. 8
Judgments & Feelings .................................................................................................... 8
Resonance ...................................................................................................................... 9
Selection and justification of questions .................................................................................. 9
Brand awareness ................................................................................................................ 9
Brand performance and imagery ........................................................................................ 9
Brand judgments and feelings ............................................................................................ 9
Brand resonance .............................................................................................................. 10
Conclusion .......................................................................................................................... 10
References .......................................................................................................................... 11
Appendix: Brand health tracker survey ................................................................................ 13

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Introduction
Brand has been playing a significant role in making purchase decisions quicker and
providing a symbolic device for customers while to firms, it provides added value as well as a
huge source of competitive advantage (Keller & Swaminathan, 2019). One of the most
popular tools used to measure brand knowledge is called a brand health tracker – a survey
that collects data on a brand from consumers, based on key dimensions including brand
awareness, image, performance, feelings, judgments, and resonance (Romanuik 2013, p.11).
With the main subject namely Pandora – a long-standing jewelry firm, the survey will be
conducted to measure the current state of awareness, associations, and even impacts of
marketing for Pandora. Operated since the 80s, the brand has obtained a certain position in
the international market with a key product of charm bracelets. This document will mainly
give information and analyze the following part: Brand overview; Keller’s brand resonance
model, Pandora positioning and performance; Selection and justification of questions used in
the brand health tracking survey.

Brand context
Overview of brand
Pandora A/S (often styled PANDORA) is a jewelry manufacturer and retailer, focusing on
customizable charm bracelets, necklaces, rings, earrings, and even watches. Pandora jewelry
is sold in more than 100 countries on six continents through around 7,800 points of sale,
including more than 2,400 concept stores ( US Pandora.net) with an online sale platform and
2 manufacturing sites located in Thailand and Vietnam. Although Pandora is not ranked top
in European markets when compared to its competitors like Tiffany Co or Cartier, it still
leads in American and China markets with over DKK 7,000 million and DKK 1,100 million,
respectively (Pandora Annual report 2021). Pandora’s mission – then and today – is to offer
women across the world a universe of high quality, hand-finished, and genuine jewelry
products at affordable prices, thereby inspiring women to express their individuality (Annual
Report, 2021). In 2021, Pandora had also developed a new operating strategy called Phoenix
with 4 growth pillars: brand, design, personalization, and core markets that build on
Pandora’s unique brand promise, the significant potential to grow, and attract new consumers
to the brand (Danziger, 2022).

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Keller’s brand resonance model
Brand salience
Pandora is mostly famous for its collectible charm bracelet with over 100 million pieces
sold just in 2021. In a 2019’s survey, 1000 Chinese and American women were asked about
charm bracelets and over 85% of them had Pandora to be the first brand coming to mind
(Annual Report, 2019). Moreover, due to its affordable price with hand-made quality,
Pandora jewelry is one of customers’ top choices of women's gifts on special occasions such
as Valentine's, Anniversary,… It is estimated that just on 2020 Valentine’s day, over 10,000
pieces were sold as gifts (Statista, 2021). Additionally, Pandora’s stores are also recognized
for their “simple but chic” decoration: white and soft rose gold color with an iconic crown
symbol.

Brand imagery
Pandora users are not characterized by age, income bracket, or other generic metrics, but
rather by a desire to emotionally connect with a jewelry product and express emotions for
passions, places, and people through their purchases (Hailes, 2019). Especially, for customers
with collecting hobbies, theme collections such as Marvel or Disney collaborations are
always favorable. Customers with Pandora jewelry are likely to appear as trendy, charming,
and luxury women as well.

Brand performance
Pandora provides a universe of hand-finished and contemporary jewelry made from
genuine materials, primarily solid sterling silver and 14 or 18 k gold with gemstones, cultured
pearls, and glass. It also provides “personalization” through PandoraMe by which users can
customize their pieces of jewelry. With high durability, its silver products can last up to 3
years while the brand also offers free cleaning and other “jewelry spa” services (Jewelry
Shopping Guide, 2019). Moreover, Pandora also applies sustainability and low carbon
business in its daily operation.

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 (Pandora Annual Report, 2021)

Brand feelings
Just like Pandora’s mission, each item has helped millions of women to tell their
stories, express individualities, who they are, and what they want. Therefore, most
recorded feelings are happiness, self-respect, motivativeness, and so on.

(Pandora Annual Report, 2021)

Brand judgements
Customers tend to perceive Pandora as “affordable luxury” jewelry. Compared to other
competitors like Tiffany & Co or Swarovski, Pandora has a certain position in their minds

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with unique design and features of customization as well as excellent customer services.

( US Pandora.net)

Brand resonance
Due to its popularity, the collectible charm bracelet is considered to be Pandora’s
cornerstone product that fosters repeat purchases and customer loyalty (Pandora Annual
Report, 2021). The brand also has a strong and wide community of Pandora users
called Pandora Club with nearly 13 million members, they can get exclusive benefits such as
welcome offers, birthday discounts, and sale previews (Annual Report, 2018). To maintain
the interaction with current users, there is also a #PandoraStyle gallery with hundreds of
photos of Pandora looks posted daily by its customers. Moreover, its global brand tracker
surveys show that consumer perception mirrors the brand promise, and Pandora scores higher
than the category average on key attributes that drive brand desire, such as “help me to
express my personality” (Annual Report, 2021).

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Analysis of brand positioning
Target market:
Pandora’s objective is to position itself as a leading affordable luxury brand. It used to focus
only on women in the 25-50 segment who value contemporary design, personal history, and
the desire to express themselves creatively and affordably. However, since 2021, the
company decided to re-launch PandoraMe to target Generation Z’s mindset in addition.
(Jacobsen, 2021).

Competitors
Among the strongest competitors, Pandora has a few large opponents namely Swarovski,
Tiffany & Co, and Cartier which are market leaders in the industry. Meanwhile, in the year
2012, Pandora ranked 2nd among the world's largest jewelry brands, right after Tiffany with
long-lasting history and very strong position (Ford, 2012). Regarding charm bracelets –
Pandora’s key product, there are a few competitors such as Chamilia, Carlo Biagi,… that
operate on a smaller scale, yet, they still continuingly develop and grow.

Points of Parity
Same as its above competitors, Pandora offers high-quality fine jewelry with a diversified
product line including bracelets, rings, necklaces,... These jewelry firms also provide
excellent customer service. For example, whenever customers purchase online or in-store,
there is always available service personnel. Moreover, Pandora tailors its retailing and sales
approaches to suit the needs of each country they venture into, realizing that different
customers will have different needs (brandtiffanyandcowordpress.com).

Points of Difference
Along with non-functional and self-esteem values, Pandora’s positioning strategy mainly
uses its unique attributes as follows. Besides customization by carving jewelry, only Pandora
provides charm collections for users to freely design their own jewelry pieces. Not only that,
its collections also collaborate with Marvel, Disney, Harry Potter,.... which are all popular
names with Pandora’s target customers. In the same market segment, Pandora is evaluated as
having a wider price range for luxury products (pandoragroup.com).

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Summary of key dimensions of brand performance related to the brand

(Brand resonance model of Pandora)

Need satisfied/Category
As mentioned, Pandora has met customers’ needs by providing them a mean to express their
personalities as well as a meaningful gift for their beloved ones at a very affordable price for
such quality.

Performance & Imagery associations

Pandora has made a great performance with a sustainable production chain of hand-finished
jewelry and a feature of personalization. It is also noticeable that Pandora is heavily
associated with people who desire to wear jewelry symbolizing themselves and want others
to look at them as trendy and luxurious women.

Judgments & Feelings

Each piece of jewelry mostly provides users feelings of self-respect and happiness through
the way that they can customize what they will wear every day. That is why Pandora is
judged to be unique, valuable, and excellent in customer service.

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Resonance
Pandora‘s customers tend to purchase on repeat, especially with charm bracelet collections.
Furthermore, there are PandoraClub as well as #PandoraStyle where users can enjoy
exclusive access and share their moments with the brand.

Selection and justification of questions

Brand awareness
The first unaided and TOM question is used to measure brand awareness because it will
provide respondents little assistance to give their answers based on memories, through which
we can know how popular Pandora is among the entire jewelry industry (Romaniuk, Wight &
Faulkner 2017, p. 475). Meanwhile, the aided question can clarify each brand’s percentage of
respondents who indicate “yes (Huang and Sarigöllü, 2012) and measure Pandora's
popularity among its rivals.

Brand performance and imagery

A pick-any measure is suitable whose responses can indicate brand association as well as
show how respondents perceive Pandora and other competitors (Driesener & Romaniuk
2006, p.681). At the same time, Pandora can identify the marketing impacts on public,
including users and non-users

Brand judgments and feelings

Two ranking questions for brand judgments are used to compare and rank Pandora with
other brands according to their associations with an attribute and even measure the strength of
that association (Driesener & Romaniuk 2006, p.681).
According to Driesener and Romaniuk (2006, p.681), a rating question is a suitable
measurement for brand feelings as the brand can know how “strong” the respondents’
feelings about certain attributes, such as personalization or the degree of Pandora
associations.
Both question types are used because not only we can have a comparison of attributes
between brands but also understand the level of brand associations by respondents' judgments
and feelings.

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Brand resonance
As brand resonance is about the relationship between the respondents and the brand, all used
questions are from the rating technique. To be more specific, rating questions can help the
brand to examine deeply the connection between two parties, the level of resonance, or the
way customers resonate with Pandora (repeated purchase or active engagement,…) (Raut et
al., 2019). Hence, the firm can know whether it has achieved the highest level of the Keller’s
model.

Conclusion
In summary, this document has given information about Pandora – a Danish jewelry
company as well as its health measured by a brand health tracker. Pandora is mostly known
for its charm bracelet, with hand-made quality at an affordable price while its choice of
customization also helps customers to express their individuality. Therefore, they tend to feel
self-respect and happy when experiencing Pandora’s items and excellent customer service.
Pandora users are likely to resonate with the brand in various ways: repeated purchase of
bracelets, joining PandoraClub,…With the target market of gen Z and women who value
their history and uniqueness, it has successfully become one of the market leaders by
applying POPs and PODs, along with competitors like Tiffany & Co, Cartier, and Swarovski.
Finally, all types of questions are used in BHTs, including aided, unaided, TOM, pick-any,
rating, and ranking to indicate brand association and measure its degree.

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 References
Danziger, PN 2022, How Pandora Plans To Double Its U.S. Jewelry Sales After Breaking $1 Billion
In 2021, Forbes, viewed 5 April 2022,
<https://www.forbes.com/sites/pamdanziger/2022/03/02/how-pandora-plans-to-double-its-us-
jewelry-sales-after-breaking-1-billion-in-2021/?sh=1f876bda64e4>.

Driesener, C & Romaniuk, J 2006, ‘Comparing methods of brand image measurement’, International
Journal of Market Research, vol. 48, no. 6, pp. 681–698 .
Ford, D 2012, ‘Pandora ranked as #2 brand among luxury jewelry consumers’, JCK, viewed 8 April
2022, <https://www.jckonline.com/editorial-article/pandora-ranked-as-2-brand-among-
luxury-jewelry-
consumers/#:~:text=Pandora%20Ranked%20As%20%232%20Brand%20Among%20Luxury
%20Jewelry%20Consumers,-
February%2014%2C%202012&text=The%20charm%20manufacturer%20ranked%20second,
Bulgari%2C%20according%20to%20the%20study.>.

Hailes, S 2019, GET TO KNOW: Pandora’s new way of charming consumers, Professional Jeweller,
viewed 29 March 2022,< https://www.professionaljeweller.com/get-to-know-pandoras-new-
way-of-charming-consumers/>.

Huang, R & Sarigollu, E 2014, ‘Assessment of brand equity measures’, International Journal of
Market Research, pp. 2-5.

Jacobsen, S 2021, Jewellery maker Pandora bets on 'Gen Z' to boost sales, Reuters, viewed 30
March 2022, <https://www.reuters.com/business/retail-consumer/jewellery-maker-pandora-
targets-6-8-sales-growth-towards-2023-2021-09-14/>.

Jewelry Shopping Guide 2019, Pandora Jewelry – Is It Worth the Hype? Jewelry Shopping Guide,
viewed 30 March 2022, <https://www.jewelryshoppingguide.com/pandora-jewelry-guide/>.

Keller, K, Swaminathan, V 2019, ‘Brand resonance and brand value chain’, Strategic Brand
Management: Building, Measuring, and Managing Brand Equity, Pearson Education,
Harlow, England, pp. 107-135.

Pandora Group 2019, Annual Report 2018, Pandora A/S, viewed 29 March April 2022,
<https://pandoragroup.com/staticcontent?url=http://pandoragroup.gcs-web.com/static-
files/806f8a35-915f-4452-a147-
94be22ddd4a8&format=pdf&title=Annual%20Report%202018>.

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Pandora Group 2020, Annual Report 2019, Pandora A/S, viewed 2 April 2022,
<https://pandoragroup.com/staticcontent?url=http://pandoragroup.gcs-web.com/static-
files/84d758a8-9d17-4e4b-bfa6-
59e4dd29ec51&format=pdf&title=Annual%20Report%202019>.

Pandora Group 2022, Annual Report 2021, Pandora A/S, viewed 1 April 2022,
<file:///C:/Users/admin/Downloads/Pandora%20Annual%20Report%202021.pdf>.

Raut, UR, Brito, PQ & Pawar, PA 2019, ‘Analysis of brand resonance measures to access,
dimensionality, reliability and validity’, Global Business Review, vol.21, pp. 162-175.

Romaniuk, J 2013, ‘How Healthy is Your Brand-Health Tracker? A Five-Point Checklist to Build
Returns on a Critical Research Investment’, Journal of Advertising Research, vol. 53, p. 11.

Romaniuk, J, Wight, S & Faulkner, M 2017, ‘Brand awareness: revisting an old metric for a new
world’, Journal of Product & Brand Management, vol.26, no.5, pp. 469-476.

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Appendix: Brand health tracker survey

Brand health tracker survey –

INTRODUCTION:
Thank you for agreeing to participate in this survey. It will only take approximately 10
minutes. All of your responses are kept confidential.
The survey is about your awareness, knowledge and experience of brands. There are no right
or wrong answers, we are just interested in your honest opinions and answers.

BRAND AWARENESS

UNAIDED AND TOM BRAND AWARENESS QUESTION:

Which brands of jewellery can you name? Please list as many as you can.

[Open answer].

AIDED BRAND AWARENESS QUESTION:

Which of the following brands have you heard of? Please tick all that apply.

Pandora ❏
Swarovski ❏
PNJ ❏
Carlo Biagi ❏

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 Tiffany & Co ❏
Van Cleef & Arpels ❏
Cartier ❏
Graff ❏
BVLGARI ❏
Charmilia ❏
None of these ❏

BRAND PERFORMANCE AND IMAGERY (POSITIONING)

You will now see some qualities that people have linked to Pandora . Please look at each
quality and indicate which, if any of the listed brands, you link to that quality. You can name
as many or as few brands as you like, it doesn’t matter if you have tried the brand or not.

Pandora Swarovsk Tiffany & Cartier Chamilia Carlo PNJ Graff

i Co Biagi

Customisation ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
High durability ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Unique design ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Collaboration with ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
famous brands
Wide price range ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Large store chain ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Good customer ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
service
Gift choice ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Self expression ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏
Hand-made ❏ ❏ ❏ ❏ ❏ ❏ ❏ ❏

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 BRAND JUDGMENTS AND FEELINGS

In your opinion, which of the following brands have the most UNIQUE design for jewelry?
Please rank them, where 1 is the worst and 10 is the best performing brand.
 Pandora __________
 Tiffany & Co__________
 Cartier__________
 Swarovski __________
 Chamilia __________
 Carlo Biagi__________
 Van Cleef & Arpels__________
 Graff__________
 PNJ __________
 BVLGARI __________

RANKING QUESTION (JUDGMENT): In your opinion, which of the following brands

performs the best in terms of PERSONALIZATION ? Please rank them, where 1 is the worst
and 10 is the best performing brand.

 Pandora __________
 Tiffany & Co__________
 Cartier__________
 Swarovski __________
 Chamilia __________
 Carlo Biagi__________
 Van Cleef & Arpels__________
 Graff__________
 PNJ __________

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  BVLGARI __________

RATING QUESTION (FEELING): We are now interested in your feelings towards Pandora.
To what extent does Pandora make you feel:

Strongly Disagree Neutral Agree Strongly

disagree agree
Luxurious ❏ ❏ ❏ ❏ ❏
Self-respect ❏ ❏ ❏ ❏ ❏
Motivated ❏ ❏ ❏ ❏ ❏
Happy ❏ ❏ ❏ ❏ ❏
Stand-out ❏ ❏ ❏ ❏ ❏

BRAND RESONANCE

RATING QUESTION: Focusing on Pandora, please indicate your agreement with the
following statements.

Strongly Disagree Neutral Agree Strongly

disagree agree
Pandora is my favourite jewelry brand ❏ ❏ ❏ ❏ ❏
I will recommend Pandora to my family ❏ ❏ ❏ ❏ ❏
and friends
I would buy Pandora as gifts in special ❏ ❏ ❏ ❏ ❏
ocassions
I am a member of Pandora Club ❏ ❏ ❏ ❏ ❏

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 I share my favourite Pandora looks on ❏ ❏ ❏ ❏ ❏
my social media

RATING QUESTION: How often do you purchase Pandora’s products within one year
(online/in store) ?

More than 10 5-10 times 2-5 times 1-2 times Never

times
❏ ❏ ❏ ❏ ❏

RATING QUESTION: How actively you engage with Pandora, i.e, joining Pandora’s events,
club, offline; interacting on social media ?

Always Usually Sometimes Rarely Never

❏ ❏ ❏ ❏ ❏

THANK YOU FOR TAKING PART IN THIS SURVEY!

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