“In the consumer marketing, brands are often the initiating point of the difference between competitive proposals, so that they can be significant for organizations success. Thus, it is very important that brand’s management applied by strategic method. The brand is a fundamental product of a company. Brand equity shows a price difference that a powerful brand attract it in its sale in comparison with other brands. In recent researches about brand equity, there are two main prominent theoretical points of view that provide valuable views into the body of brand equity. The first perspective of brand equity is from a financial market’s point of view where the asset value of a brand is appraised (Farquhar et al., 1991, Simon and Sullivan, 1993).Recently, brand equity has increasingly been defined in customer-based contexts, which defines brand equity as the value of a brand to the customer (Aaker, 1991; Keller, 1993; Cobb-Walgren et al., 1995; van Osselaer and Alba, 2000,). Aaker (1991) defines brand equity as “a set of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firms’ customers."Keller (2003) argued that the power of a brand lies in the minds of the customers and what they have …show more content…
The study conducted to investigate the causal relationships between the dimensions of brand equity and brand equity itself which measures the consumers’ perception of brand equity affected the overall brand equity evaluations. Data collected from a sample of university students in Turkey. Findings conclude that brand loyalty is the most influential dimension of brand equity. Weak support is found for the brand awareness and perceived quality dimensions. Marketing managers should consider the relative importance of brand equity dimensions in their overall brand equity
RIAS marketing has carried out extensive market research using online and direct surveys as well as existing customer feedback (Voice of the customer platforms and Trust pilot) to create a tailored approach to these attitudes. This has given them a strong understanding of how its customer base makes its decisions on which provider to select and how they can influence that provider to be RIAS. The result of this market research has identified that Brand Presence and recommendations/ratings from independent financial information businesses, such as DEFAQTO [10], are key contributors to identifying and winning new customers. • Brand Presence Research carried out by Huang, Rong & Sarigollu, Emine. (2012), confirm that brand awareness “has a positive correlation with brand forming part of the consumer decision making.”
Please respond to the following: "Brand Portfolio Molecule and Brand Report Card" Based on your review of the Learnscape scenario titled “Learnscape 3: Recover and Retention”, explain the fundamental reasons why brands do not exist in isolation but do exist in larger environments that include other brands. Provide two (2) specific recommendations or solutions that help the health care facility in this scenario improve patient satisfaction. Brands do not exist in isolation but do exist in a larger environments which includes other brands, because brands are highly interdependent and value of the brand is driven by its impact on the customer’s precipitation. The brands needs other brands in order to have meaningful comparison with other brands.
Brands such as Nike, Coca Cola and Gillette have become assets with economic value (Kerin & Sethuraman, 1998:1). Brand value can be defined as the possibility to gain tangible wealth, by maximizing cash flow by linking a flourishing brand which is well established to a product or service ( Kerin & Sethuraman, 1998:1). The interest in brand value became popular in the a1980s, as intangible commodities , meaning these commodities could not be touched, this does not mean the commodities are not real, it however means it has no physical existence. The intangible properties of brands became a source of tangible wealth for the companies ( Kerin & Sethuraman, 1998:1). The brand value of Nike can be seen through intangible properties such as brand name awareness, brand loyalty, perceived brand quality and a favorable brand symbolism such as the swoosh, which creates a competitive advantage and future earnings platform ( Kerin & Sethuraman, 1998:1).As the brand Nike outsources the production of the brand value to their consumers , it becomes difficult to legitimize their exclusive rights to derive value from the commodity (Arvidsson, 2006:188-189).
Introduction Brand Equity: The premium value realized from a particular product which has a well-established name as compared to any other generic product available in market is known as brand equity. Brand equity has many aspects such as loyalty, awareness, preferences, familiarity, associations and image in minds of customers. Brand equity is always considered to be an intangible asset because the brand value is not a physical asset and is ultimately depends on perception of the brand by consumer. A brand's equity contributes to the overall valuation of the company's assets as a whole. Positive brand equity:
Brand equity is a set of brand intangible assets and liabilities connected to the brand and its trademark that could enhance or disturb the value to the customer and the firm (Aaker 1991, p.15). Brand equity has been referred a lot in business world for years. However, brand equity does not simply occurred, it needs effective building, maintenance, and protection management. (Aaker 1991, p.
Alternative Definition: Brand equity refers to a value premium that a company generates from a product with a recognizable name, when compared to a generic equivalent. Brand equity ' is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more revenue simply from brand
There were a strict reference and editorial processes as well as link to other expert sources; all these contribute to the accuracy of the article. The article provides theoretical and substantive explanations but has several limitations. The model tests only a few marketing efforts; more marketing actions should be examined to enhance the explanatory power of the brand equity phenomenon. Besides, the variables of this study are too broad to provide tips for detailed marketing practices; it should be accepted only with the caution that all advertising builds a brand. It was not specified which type of advertising builds brand equity.
Brand equity is the value a company realizes from a product with a familiar name. Endorsement deals can escalate brand equity for brands as well as athletes. Validations from athletes
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
“The influence of Sport brand loyalty on young adult’s consumer purchasing behavior in Hong Kong” Abstract (200-250) =210 There are many factors that affecting a company’s success or failure, customers is the most powerful influence that guiding their business among those factors undoubtedly. Nowadays, a business brand becomes the most valuable elements. Refer to Joseph and Daniel (2012), brands influence consumer decisions to buy in any of ways, or with tremendous persuasive appeal to modify a buying power among customers. A trusted brand is successful because brands give consumers the means whereby they can make choices and judgments bases on their experiences.
A selfish person will not be recognized by society, people only think for themselves who are narrow-mind person. Personal branding to build the most important thing is to achieve self-worth while contributing to society. People should have a passion for contributing to society when they have talent. People’s behavior should not only be standing on their own interests, but also treat others passion in order to get the reputation recognition.
“A key to understanding what possessions mean is recognizing that, knowingly or unknowingly, intentionally or unintentionally, we regard our possessions as parts of ourselves”. (Belk 1988 p.139). In the past, people gained identity from the groups in which they belonged to, in the form of family, friends etc. In more recent times, consumers employ consumption to create an ideal self (Wattanasuwan 2005) and one can use these brands to enable him/herself to construct their identity (Shankar and Fitchett 2002). Marketers use this to their advantage by trying to portray value in their products or services in the hope that they are congruent with their consumers values as stated by Schenk & Holman (1980).
2.1.4 Brand Attribute Model The brand attribute model proposed by Keller (1993, 1998) and Li (2004) divides brand attributes into intrinsic and extrinsic brand attributes. Keller (1993) in the classification of brand attributes distinguished them to price information, packaging or product appearance information, user imagery, and usage imagery. Although package is considered part of the purchase and consumption process, it does not straightforwardly relate to the important ingredients for product performance in most cases. Later, Keller (1998) renamed non-product related attributes to extrinsic brand attributes, and replaced the package factor with brand personality and feeling experience factors.
Conclusion Brand image and brand loyalty is the most important deterrent of the brand equity that affects consumer perceptions in the market, and at the same time the impact of brand equity, it’s a set of beliefs play an important role in the decision-making process of the buyer when customers evaluate alternative brands. If a brand stick to some strategies and never change it, it will lose their loyal customers because customers trying to finding the best for them no matter what and people do care about high quality with affordable
3. Literature Review • Brand Image Brand image is the variable which enforce a consumer for finding difference between brand and its competitors. Brand image consist of expectations, impressions and beliefs that a person holds about brand. The overall perception of consumer about quality and service can be created by brand image. Brand image is nothing but organization character.