Exploring automobile brand power: a multi-dimensional approach

Automobile brand power is a multifaceted concept encapsulating the overall performance of cars and associated services. This study examines the diverse factors influencing brand power across eight dimensions sourced from market and product data. These dimensions were thoughtfully chosen based on their pivotal role in shaping brand perception, driving market performance, and contributing to overall brand strength. The decision to focus on eight dimensions was a strategic one, aiming to strike a balance between comprehensiveness and feasibility within the scope of this study. The selection process for these dimensions involved a meticulous review of existing literature, expert consultation, evaluation of relevance to brand power, consideration of data availability and measurability, as well as an emphasis on maintaining practicality while ensuring a comprehensive representation of factors impacting brand strength within the automotive industry. The methodology employed in this study encompasses the application of mathematical formulas for data processing, outlier handling techniques such as Boxplot and random forest prediction methods, and the utilization of the EWM + CRITIC method for determining survey indicator weights. Method verification with joint venture and self-owned brands serves to validate the methodology, aligning it with real-world outcomes. The novelty lies in integrating mathematical formulas and comprehensive calculation methods, applied across dimensions and validated with real-world outcomes. Results indicate joint venture brands outperform domestic ones, emphasizing the need for technological innovation to enhance domestic brand competitiveness. This methodology offers practical insights for stakeholders to bolster brand competitiveness and inform strategic decisions.