Discussion and conclusions
This paper presented the Semantic Brand Score, a new measure of brand importance which combines methods of semantic and social network analysis and can be applied to large text corpora, across products, markets and languages. One advantage of SBS is that it can be used to evaluate the importance of a brand in contexts where consumers, or other stakeholders, can express themselves more spontaneously than when formally interviewed or when in a focus group. The calculation of the SBS does not rely on time-consuming surveys, even if the score can also be calculated on interview transcripts. The SBS can be applied to big data and its measurement is usually more flexible and faster than that of traditional survey-based approaches. The area of research linking textual analysis with brand management has been explored by a limited number of studies. Compared to other methods and analytical tools for brand management (e.g., Aggarwal et al., 2009; De Vries et al., 2012; Gloor et al., 2009; Yun & Gloor, 2015) the SBS displays several advantages. Firstly, the score has three dimensions of prevalence, diversity and connectivity which are new for a part but also at least partially linked to some pivotal dimensions of well-accepted brand equity models – such as brand awareness and heterogeneity of brand image (Aaker, 1996; Keller, 1993) – and with well-known text statistics such as the study of term frequency and word co-occurrences (Evert, 2005). These three dimensions represent different constructs, offering a more comprehensive final indicator – compared to studies where the final score is limited to the calculation of a single metric or to the analysis of a single construct, such as brand popularity on the web. Secondly, in the calculation of the SBS, social network metrics are applied to word co-occurrence networks, which can be extracted from any text data, making this measure suitable for multiple comparisons – such as the evaluation of brand importance in newspaper articles while considering companies operating in the same business sector.