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Keller's brand equity model
Brand equity case study
Brand equity case study
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CHAPTER TWO
LITERATURE REVIEW
2.1 Brand Analysis
A brand is a powerful tool to be able to rely on its strength for its approach to consumer. Getting your target market choose you over the competitor is essential but getting your brand has a prospect to fulfill consumer needs and wants as their main solution is important. To assess the current position of a local brand and global brand in Indonesia, it is crucial to analyze how the brand is recognized, how the brand is appraised and to what extent consumers are entrust to the brand. (Dillon, Madden, Kirmani, & Mukherjee, 2001) give a model to analyzed brand based on two components: brand-specific associations and general brand impressions. The model can give a benefit too:
• Determining to what extent a brand achieves its superiority or if it has meaningful specific benefits to its consumers
• Investigating the role of every component of brand analysis in creating global brand attitudes that driven purchase intentions and preference
• Providing
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Attributes are the features of each product that are classified into product-related and non-product related. Product-related attributes are those that “relate to a product’s physical composition”, physical product exposure that derived experience from the brand. Those made consumer perception of brand connected with their emotional and perceived quality of product from a specific brand (Alexandris, Douka, Papadopoulos, & Kaltsatou, 2008). In this study, it uses two constructs for this brand-specific associations as used by previous research which is: emotional value and perceived quality. (Min-Young, Knight, & Youn-Kyung, 2008) suggested there are two constructs that become two major dimensions of brand-specific association as they form critical factors in product
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
A customer’s response falls in two categories, judgment and feelings. Consumers are constantly making judgments about a brand. These judgments fall into four categories: quality, credibility, consideration, and superiority (Keller, 2001). Customers judge a brand based on its actual and perceived quality, and customers judge credibility using the perception of the company’s expertise, trustworthiness, and likability. To what extent is the brand seen as “competent, innovative, and a market leader,” “dependable and sensitive to the interest of customers,” and “fun, interesting, and worth spending time with” (Keller,
[5] Nandan, S. (2005) An exploration of the brand identity-brand image linkage: A communications perspective, Brand Management. (pp 264 – 278)
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model.
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory of Cadbury in terms of the customer-based brand equity (CBBE) model.
Guo, X. (2013). Living in a Global World: Influence of Consumer Global Orientation on Attitudes Toward Global Brands from Developed Versus Emerging Countries. Journal Of International Marketing, 21(1), 1-22. doi:10.1509/jim.12.0065
Even with commodities, there are quite a few parameters which brands can use to position themselves to capture a place in the consumer’s memory and consequently in their shopping basket. A few of the more widely accepted of them are: Consistency of Product Quality, Customization of the product to the extent possible, Providing a wider range of products, Identifying the most profit generating segments of the market and modifying or adding an offering to cater to their specific needs, Unique packaging, Emotional Branding and even basing branding on building a unique image to the extent of professing to have a brand personality. In fact focusing on getting consumers to build an emotional identification with the brand and its personality has a far longer lasting effect and builds far greater loyalty than focusing on just functional and utility attributes which a competitor would also able to easily match if not surpass.
Brand image is about how consumers perceive a product and the ability for the customers to be loyal to the brand irrespective of the threats from its competitors. Starbucks prides itself as the best coffee produce, and most consumers have been heard admitting that the company produces coffee that is quality and that makes users sometimes to consume even when they had not budgeted for it. Cleanliness seems to be another strategy that Starbucks uses to promote the image of its brands because customers can trust their products and knows that the company is keen enough in cleaning its environments and the utensils used for the preparation of coffee and other brands. Brand image is critical for measuring brand equity, and it is from this point of view that the company comes up with marketing and operational strategies to make it successful (Keller & Lehmann, 2006). Brand resonance is another important technique that should not be avoided because of its impact towards the study. The attachment that a consumer has to a product will help discover the relationship between a customer and a product. Identifying oneself with a product is only possible if the product is
The review of relevant literature is to identify what's brand awareness and how to carry out in strategic marketing, and consumers' behavior. The study prove that the significant factors on brand awareness as a perception of product, service, and image of the company and has a tremendous effect on consumers’ evaluation of system results. From reading all of the relevant journals, it is understandable that the significant factors on building a successful brand image and awareness is consumers and their relationship with the brand, company, service and the product. Brand awareness is the vital importance to marketing strategy and marketing communications because it links customer behavior to firms’ financial metric. Keller (2001), noted, customers’ reaction toward brand awareness is associated profitably brand equity.
When customer identify with specific brand and has emotional attachment they form a psychological attachment and relationship with the brand and try tell those thing of the brand which he/she like and work instinctively to the benefit of the brand (Kuenzel & halliday, 2010). Thomson et al, (2005) argued that brand identification such as brand attachment, brand connection and bond with brand, has strongly predicts the frequency of past and future purchase of the brand. The intense relation and attachment also drives consumer toward the benefit of the brand by purchasing the specific brand. Kuenzel et al. (2010) identify that the brand identification concept is built on social identity theory in which consumer are engaged with the brand and extensively of the brand concept in other self-restraints. Identification based on social identity theory is in core a perception of oneness with a group of persons and make an identity in marketing we can also say that customer make their brand as an identity of their self-mean people identify someone with their brand (Albert et al., 2013). The customers who they uses the brand and they emotionally attached to the brand make the brand their identity, those customer called evangelist.. Stronger brand identification with consumer disposed to emotional attachment in pro-brand activities. Their self as an evangelist with the brand and also with the manufacturer (Bhattacharya &Sen,
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
Brand attitudes: it’s the consumer evaluation of brand .Keller (1993)another important impact distinctive Between 11 dimensions: product attributes, intangibles, customer benefits, price, use/ application, user, product class, celebrity, country of origin, competitors, and life style. Aaker’s and Keller’s show many topologies like price, user imagery, usage imagery, and product attributes I will identify some weakness , but it should be considered that how it’s possible to trap the content of consumer knowledge. Aaker (1991). "Sum of the total brand impression is called brand image (Herzog 1973), anything that is associated with brand (Newman 1957), and "the perception of the product" (Runyon and Stewart
“Our greatest fear is not in never falling, but in getting up every time we do.” – Confucius