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The Pros And Cons Of Brand Equity

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The second fundamental dimension of brand equity is brand image, which has been recognized as an essential concept in marketing. Brand image is consumers’ perception about the brand, as reflected by the brand associations held in consumer memory (H. Herzo, 1963, p.76-86; Joseph W. Newman, 1957, p.95-102). In other words, brand associations are the other information nodes linked to the brand node in memory and contain the meaning of the brand for consumers.
According to Keller, creating a positive brand image takes marketing programs that link strong, favorable and unique association to the brand in memory. There is no distinguishing between the source of the brand associations and the manner in which they are formed – all that matters is their favorability, strength, and uniqueness. This means that customers can form brand association from many other approaches: from direct experience, online surfing; through information from other commercial or nonpartisan sources such as customer reports or other media vehicles; from word of mouth; and by assumptions or inferences customers make about the brand itself, its name, its logo, or identification with a company, country, channel of distribution, or person, place, or event. …show more content…

Brand attributes and brand benefits are the two factors that affect the strength and recall ability of a brand association and they are formed in the mind of consumers in many different ways. Brand attributes are those they descriptive features that characterize a product or service and brand benefits are the personal values and meaning that customers attach to the product or service attributes (Kevin Lane Keller, Strategic Brand Management, Building, Measuring, and Managing Brand Equity, 2013,

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