Chanel Brand Equity
Abstract
The purpose of this capstone project is to illustrate ‘Chanel Brand Equity of Virtual Brand Community in Thailand’. The objectives were to demonstrate:
(1) Chanel brand associations that create brand image and engagement of virtual brand community in Thailand
(2) Factors that result in Chanel brand equity amongst Chanel virtual community members and non-members in Thailand.
(3) Different levels of brand equity that occurs between members and non-members of Chanel virtual community in Thailand.
(4) The impact of Chanel brand equity on sub product lines, which are beauty and perfume, to virtual community members and non-members in Thailand.
Two methodologies were used in the study of this capstone project. The first method was qualitative
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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. …show more content…
Non-product attributes are functional benefits, experiential benefits, and symbolic benefits (Keller 1993). Excluding advertisement, word of mouth is such a powerful tactic the brand could perform to associate with consumers. With word of mouth, customers will develop brand awareness, brand knowledge, and brand image that lead to customer-based brand equity or CBBE (Keller 2003). Keller (2001) developed pyramid models of consumer-based brand equity building steps as shown in figure 2, and six brand building blocks as displayed in figure 3. Successful brand building is to create resonance that builds relationships between the brand and its customers, which generates brand loyalty, attitudinal attachment, and community engagement as the best
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