In this chapter, we are going to explain brand awareness and brand image. Customer-based brand equity occurs when the consumer has a high level of brand awareness and familiarity with the brand and holds some strong, favorable, and unique brand associations in memory; and to establish a positive brand image in consumer memory, we need to create brand awareness and brand image to build customer-based brand equity. 2.1 What is brand awareness, and how do we achieve it? Brand awareness consists of brand recognition and brand recall performance. Brand recognition is consumers’ ability to confirm prior exposure to the brand when given the brand as a cue.
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. While on the other hand, Interbred measure the brand equity through evaluating the financial performance and the future projections of the company’s
Customer strategy can be linked to competitor strategy through its ability to create sustainable competitive advantages. Using customer-driven strategy and customer relationship marketing techniques and approaches an organization is likely to develop competitive advantages that will build loyalty and customer satisfaction. Noteworthy in this regard, is what Grewal & Levy, (2014) state concerning customer excellence. According to the duo customer loyalty can be maintained if a firm develops value-based strategies for retaining loyal customers and provide outstanding customer service. It is also important to note that having a strong brand, unique merchandise, and superior customer service all help solidify a loyal customer base.
ABSTRACT The major concern of this study was to identify the awareness of consumers towards the sales promotions of Chic-boy in the area of Makiling, Calamba. Sales promotions are good marketing communication tool, and can generate interest and return customers. They may be able to add to consumer awareness to a brand at a lower cost than other promotional means. In this case, the goal is not additional profits but rather additional sales over the long term, as more consumers become familiar with the advantages of the particular brand. Consumers’ awareness is important to determine the familiarity before and after the sales promotion give an accurate evaluation of the immediate success of the promotion.
Relationship with the customers can be used positively to continuous customer retention and to increase repeat purchases. Stay with future challenges of new technology The truth is customers put attractiveness before efficiency and this puts the company at a risk of consumers moving to other websites provided it is similarly useful as Zappos.com. Zappos has to take initiatives to redesign its websites to be more user-friendly and attractive. In overall, Zappos will stay on the market with the given
CHAPTER – III CONCEPTUAL FRAMEWORK OF THE STUDY 3.1 Introduction Brand loyalty implies that consumer have a good attitude towards a particular brand over other competing brands. Brand loyal consumers may be willing to pay more for a brand because they perceive some unique value in the brand that no alternative can provide (Oliver1993) . Brand loyalty, long a central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a changes, either in price or in product features. As brand loyalty increase, the vulnerability of the customer base to competitive action is reduced.
Having a positive consumer-based brand equity can lead to long term revenues, greater margin profit and success in term of marketing communication. To develop successful strong brand equity, it involves several stages that have been assembled as a set of brand building blocks. The brand building blocks also aims to identifies areas of strength and weakness as well as to provide guidance to marketing activities. Professor Kevin Lane Keller introduced a pyramid model known as customer based brand equity model that focusing on understanding how customer felt, recognize, heard etc. on the particular brands based on their experiences using the brand over the time.
Such as corporate brand strategy associate, and corporate value system and product identity; it evaporated organizational culture and corporate image. It provides a sense of trust and quality of the product, but for this, it is necessary to be a strong company in its value system, culture, identity and ensure trust and confidence by the public (Singh B. (2014) “Measuring Effectiveness Of Branding Strategy Using Second Order Factor Analysis”). Brand strategy has a free market position individualism, but it requires a lot of investment in the company 's marketing mix, so the company should be prepared and this strategy should able to afford. Mixed brand strategy has the advantages of both but their specific requirements are the same either or both of the above strategies (Singh B.
For one thing, most consumers show preferences for socially reputed brands when evaluating similar products; for another, a firm could sharpen its competitive edge by focusing on non-economic factors. CSR could therefore be conducive for firms to establish a better brand image and promote consumers’ positive attitudes, making it an essential source of competitive advantages (Porter & Kramer, 2006, as cited in He & Lai, 2014). These advantages tend to be more important for companies in the highly-saturated cosmetic industry, where features among competing brands may not be significantly
According to Caroll and Gillen (1987), differentiation is one of the strategies outlined by Porter that attempt to develop products that are unique in the industry. Differentiation measures include excellent service, product quality, adaptation to customer requirement, good communication policy and original features of a product (Boubakry and Moskolai,