Plummer (1985) found that brand image perceptions are formed whenever there is an indiret/direct contact with the brand. The consumer derives some intrinsic value from these associations. Aaker (1996) found the cognitive elements (ex product/ specification related characteristics) to be the primary precursors of brand personality. He also found that Brand Personality is a key component of Strong Brands (Aaker D. A., 1996) Research has also found that the functional/ utilitarian motivations could lead to emotional or affective reaction. This in turn may lead to the overall evaluation and thus lead to conative, behavior intention (e.g.
Different Models of Brand Equity In modern marketing, brand equity is considered one of the key principles that brings the added value to products and services. Brand equity can be defined as a marketing process helping indicate the relationship between the overall customer’s satisfaction and loyalty to the brand. David Aaker, a branding expert, defined brand equity as a set of factors and features related to a brand name and symbol that increases the value provided by a product or service (Aaker, 1991). Basically, if a product is not associated with a brand, it relates to a commodity. At this point, brand equity starts demonstrating its value by bringing the benefits to the revenues by means of increased sales and customer’s willingness to
Brand name recognition would be the chances in which individuals are common about the life along with availability of the products. It is the stage to which in turn customers specifically associate the brand while using the certain product or service. It truly is measured since relation of niche area which includes ex - familiarity with brand. Brand awareness involves both brand recognition and also Brand recall. Brand recognition would be the ability of consumer to recognize before familiarity with brand if they tend to be enquired inquiries this brand as well as if they tend to be proven in which certain brand, when i. e., the customers may definitely separate the brand since acquiring becoming before noticed as well as observed.
As proposed in the previous sections, brand credibility has three components, trustworthiness, expertise and attractiveness. Relationship marketing theory suggests that trust leads to affective commitment (Morgan and Hunt, 1994). If consumers believe that the company can deliver on its promise of service or product quality (i.e., high trustworthiness), they tend to have higher affective commitment, since trust in a company justiﬁes consumers ' positive feelings towards and reliance on the company (Erkmen and Hancer, 2015; Hunt et al., 2006). H3. Brand credibility positively affects consumers ' affective commitment.
Therefore, the added value the brand has gained due to being popular. There are different ways one can calculate brand equities. Marketing scholars have come up with various brand equity calculating methodologies such as Asker Model, which evaluate the different attributes of the brand. Moran brand equity index measure the brand equity by three factors – effective market share of the brand in the market, the relative price as compared to competitors and the durability, which is the customer loyalty to the brand. Young and Rubicam’s Brand Asset valuator they also measure brand equity using different dimensions which are differentiation, relevance – meeting the customer needs, esteem where customers can relate to their personality and the knowledge – consumers awareness of the brand.
saliency, brand associations and brand personality, and where brand value is the outcome of managing the brand meaning. Keller (1993) defined Consumer Based Brand Equity as the differential effect of brand knowledge on consumer response to the marketing of the brand. The Consumer Based Brand Equity involves consumer’s reactions to an element of the marketing mix for the brand in comparison with their reaction to the same marketing mix element attributed to a fictitiously named or unnamed version of the product or service. Consumer Based Brand Equity occurs when the consumer is familiar with the brand and holds some favourable, strong and unique Brand Associations in memory. According to Keller (1993), Consumer Based Brand Equity consisted of
(1991, p. 185) also stress the fact that: “two different bases that consumers may use to evaluate an extension’s goodness of fit with the brand category are product feature similarity and brand concept consistency” where brand concept consistency implies consistency with brand associations. A fit may exist in any one of the associations that are made about the brand. Product associations may be based on product category, product attribute/functional benefits, application, technology, channel, user and brand personality/self-expressive benefits (Aaker, 2004, pp.
Cross functional relationship exist in this organization because of the main goal to achieve synergy by working together Amana Takaful believes that working collaboratively and cooperatively increase the synergy level in the organization. There are several cross functional relationship in Amana Takaful, among them on is for a new marketing campaign. A cross functional team is formed consisting experts from finance department, marketing department, sales department and IT department where they will take their own decisions. Second cross functional relationship is for service improvement. To meet customer expectations and achieve higher customer satisfaction rates, Amana Takaful needs to understand what customers are looking for.
DEFINITIONS A brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers”. - American Marketing Association (AMA) “ Entire process involved in creating a unique name and image for a product (good or service) in the consumers ' mind, through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.” “A brand is a singular idea or concept that you own inside the mind of a
Currently, around the world, corporations are being appealed to embrace their social obligations not only because it is the right thing towards shareholders, customers, employees, society and environment, but also because it strengthens their brands (Zaman, 2014). According to Li et al. (2013), brand image has been acknowledged as one of the most important concepts in marketing and it referred to the characteristic feature of a brand that reflected as brand associations held in public memory. In addition, several empirical findings have confirmed that a favorable brand image elevates the brand trust, brand equity and also the likelihood that consumers will purchase the brand. Furthermore, Fan (2005) states that consumers’ purchasing decisions is not only influenced by the perception of product, service quality or price, but also based on how ethical the company has fulfilled responsibility in producing its products or services.