Brand Equity In International Marketing

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Organizations differentiate their products through branding, and a lack of effective branding can cause products to fail in the marketplace (Aaker 2007). Although brand management has been an important activity for some companies for decades, branding has only emerged as a top management priority for a broad cross-section of organizations in the last decade or so. Before considering how brand equity has been conceptualized it is useful to define what brand is. According to the American Marketing Association, a brand is a name , term, sign, symbol or combination of them that is designed to identify goods or services of one seller or group of sellers and to differentiate them from those of competitors '. According to Aaker, most brands focus…show more content…
Brand awareness refers to whether consumers can recall or recognize a brand, or simply whether or not consumers know about a brand (Keller, 2008). Brand awareness precedes building brand equity. Brands represent enormously valuable pieces of legal property, capable of influencing consumer behavior, being bought and sold, and providing the security of sustained future revenues to their owner. The value directly or indirectly accrued by these various benefits is often called brand equity (Kapferer, 2005; Keller, 2003). The concept of brand equity began to be used widely in the 1980s by advertising practitioners. Important academic contributors throughout the 1990s were Aaker (1991), Srivastava and Shocker (1991), Kapferer (1992), and Keller (1993, 1998). However, a universally accepted brand equity content and meaning (Vazquez et al 2002, Keller 2003) as well as measure has not been forthcoming (Washburn 2002). (Fayrene, 2011) Almost all conceptualizations of brand equity agree today that the phenomena involve the value added to a product by consumers ' associations and perceptions of a particular brand name…show more content…
holds the secret of its unusual taste. Its packaging and labels are not attractive to young consumers because of old-fashioned design. Although there is a upcoming trend of vintage designs, Paレareta 's look should be reconstructed in a way where it will still remain consistent to its values and roots, but will have an added value by a modern design. However, its quality is creating a position that is on par with the competition, and with a good marketing communication support, drink Paレareta could be highly respected among consumers. The author wants to create a loyalty to the beverage Paレareta and awareness of its existence. Although it is hard to create brand loyalty, there are some steps that need to be followed in order to give consumers reasons why they need to buy your product: the quality of the product must always be high. This is one of the main reasons why customers initially started buying certain product. It is very important to show appreciation to customers and stay in touch with consumers in order to see their most recent experience and satisfaction with your product. Firstly, it is necessary to have very good knowledge about the brand. This knowledge will help sales people to create brand awareness which will eventually bring brand recognition and brand recall. The stronger the brand awareness in the mind of a consumer, the stronger will be the brand choice. There

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