Discussion As it was mentioned in the research formulation, the general objective of this thesis is to provide an overview of the brand equity building process, as well as to reveal the importance of brand equity. In addition, the thesis aims to show how effective brand strategy and brand communication contribute to build brand equity and consequently create a strong brand, which delivers value to both, The implication is that in managing brand equity, it is important to be sensitive as to how value can be created in order to manage brand equity effectively and to make informed deci- sions about brand-building activities. (Aaker , 30) Brand equity provides value to the customer in at least three blogger.comted Reading Time: 10 mins Jul 31, · Sample Thesis Paper. In Dijsterhuis and Olden’s Journal of Experimental Social Psychology, both the brand equity and brand value, demonstrate the brand’s worth in terms of how the direct and downstream customers will benefit- from the start when the ingredient is included in the product. 7 On examining how the two relate to the first aspect (government regulation on the
Brand equity pdf thesis writing
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A short summary of this paper. D6 5E—Q1U0I T0Y PEKKA TUOMINEN Managing Brand Equity ABSTRACT The purpose of this study is to discuss and elaborate the main issues encountered in managing brand equity. In order to achieve this purpose, we first analyse the concept of brand equity; second, we provide a comprehensive framework for managing brand equity; and finally, we distinguish different ways to leverage and measure brand equity.
The concept of brand equity emerged in the early s, brand equity thesis. Brand equity can be regarded as a managerial concept, as a financial intangible asset, as a relation- ship concept or as a customer-based concept from the perspective of the individual consumer.
The main asset dimensions of brand equity can be grouped into brand equity thesis loyalty, brand awareness, perceived quality and brand associations. There are three alternative ways to leverage brand equity: first build- ing it, second borrowing it, brand equity thesis, or third buying it.
Brand equity can create advantages and benefits for the firm, the trade or the consumer. Key Words: Brands, Brand Brand equity thesis, Brand Management 1. Apart from providing the offering with the badge of its maker, there- by indicating legal ownership of all the special technical and other relevant features that the offering may possess, the brand can have a powerful symbolic significance.
The brand can in itself imply status, enhance image and project or augment lifestyle so that the ownership of the PEKKA TUOMINEN, Ph. TUOMINEN brand becomes of value in its own right.
Bradley— ; Egan — Guilding— 1. Thus, a brand identifies the seller or manufacturer. Under trade- mark law the seller is granted exclusive rights to the use of the brand name in perpetuity.
This differs from other assets such as patents and copyrights that have expiration dates. If a com- pany treats a brand only as a name, it misses the point of branding. The challenge in branding is to develop a deep set of meanings for the brand. Perhaps the most distinctive skill of profes- sional marketers is their ability to create, maintain, protect, and enhance brands.
Kotler— Two principal approaches to branding can be identified: 1 manufacturer brands and 2 private label brands which are also called own label, distributor, retailer, dealer or store brands.
Manufacturer brands usually contain the name of the manufacturer. These brands appeal to a wide range of consumers who desire good quality and a low risk of poor product performance. Manufacturers, which brand their products, face a decision of whether to use individual or fami- ly brands or a combination. Manufacturers sell their brands in many competing brand equity thesis outlets, spend large sums on promoting them and frequently run co-operative advertisements with retail- ers so that costs can be shared, brand equity thesis.
Recently, there has been considerable growth in private label brands, whereby channel members such as retailers are able to sell products using their own brand name or label, brand equity thesis.
By doing so these brand equity thesis do not incur the large promotional cost normal- ly associated with manufacturers brands. Part of this cost saving is usually passed on to the con- sumer in the form of a lower price. Private label brands mean that retailers have greater control over the supplier, since private labels have become more powerful.
Bradley—; Burton — Lichtenstein — Netemeyer — Garretson—; Hankinson — Cowking—; Keegan — Moriarty — Duncan; KotlerA successful brand is an identifiable product consumer or industrialservice, person or place, augmented in such a way that the buyer or user perceives relevant and unique added 66 values, which match their needs closely.
If a brand provides good service over many years of regular use, it acquires added values of familiarity and proven reliability. The added values can come for example, from experience of using the brand, e. One way to build a relation- ship between a brand and a consumer is to create an appealing brand personality — that is, to associate human characteristics with a brand to make it more attractive to consumers.
This works because personality is generally seen as a bundle of traits — e. A considerable amount of research has focused on how the personality of a brand enables a consumer to express his or her own self, and ideal self, or specific dimensions of the self through the use of a brand. Further brand personality can be viewed as a key way to differentiate a brand in a product category, as a central driver of consumer preference and usage, and as a common denominator that can be used to market a brand cross cultures, brand equity thesis.
Aaker—; Keegan — Moriarty — DuncanAdvertising and sponsorship are often used to convey images of prestige or success by associating the brand with personalities. Beliefs in efficacy can be created by comparative eval- uations and rankings from, e. The design of the brand can clearly affect preference by offering cues to quality. In many situations a strong company name attached to a new product will provide confidence and incentive to trial.
Doyle— A brand can be seen consisting of generic or core, expected, brand equity thesis, augmented and potential levels. With in- creased experience, buyers and users become more sophisticated, so the brand would need to be augmented in more refined ways with added values satisfying both emotional and function- al needs.
The augmented brand provides a range of basic ancillary services not associated with the core brand. These include guarantees, credit and purchase terms, customer service, installation, training and delivery. With even more experience with the brand, it is only crea- 67 tivity that limits the extent to which the brand can mature to its full potential level. TUOMINEN Brands vary in the amount of power and value they have in the marketplace.
Consumers are not passive recipients of marketing activity and consequently branding is not something done to consum- ers, but rather something customers do things with. Brands can be seen developing through evolutionary stages. At one extreme are brands that are unknown to most buyers in the mar- ketplace. Further, there are brands for which buyers have a fairly high degree of brand aware- ness as measured either by brand recall or recognition. Beyond this are brands that have a high degree of brand acceptability, i.
Then there are brands, which enjoy a high degree of brand preference. They would be selected over the others. Finally, there are brands that command a high degree of brand loyalty. de Cherna- tony—; KotlerWith the advent of experienced buyers and increasingly sophisticated marketing tech- niques, de Chernatony and McDonald31—41 have identified eight different functions of brands. These functions include brand as 1 a sign of ownership; 2 a differentiating device; 3 a communicator of functional capability; 4 a device which enables buyers to express some- thing about themselves; 5 a risk reducing device; 6 brand equity thesis shorthand communication device; 7 a legal device and 8 a strategic device, brand equity thesis.
The twelve brand brand equity thesis are not entirely mutually exclusive, but they clearly represent a categorisation of the most important elements of brands in the marketing literature.
Each of the twelve brand elements takes the perspective brand equity thesis either company or consumers or both in determining the antecedents and the consequences of the brand.
The brand exists mainly by brand equity thesis of a continuous process whereby the values and expectations imbued in the brand are set and enacted by the company and interpreted and redefined by the con- sumers. They are interrelated and cannot be considered in isolation. Too often brands brand equity thesis examined through their component parts: the brand name, its logo, design, packaging, advertising or name recognition. Real brand man- agement, however, begins much earlier with a strategy and a consistent integrated vision.
Its central concept is brand identity, which must be defined and managed. A brand identity is the message sent out by the brand. Doyle; Kapferer12 A model of brand pyramid is suitable for analysing and understanding the concept of brand identity, brand equity thesis. The pyramid model consists of three tiers. The fundamental and upper part of the brand pyramid is the brand core, which remains fairly fixed over time. The middle tier of the pyramid is called the brand equity thesis style.
It articulates the brand brand equity thesis in terms of the culture it con- veys, its personality and its self-image. The base layer of the pyramid comprises the brand themes. These themes indicate how the brand currently communicates e. Brand themes include the physique of the brand e. Brand themes are more flexible brand equity thesis the brand style and brand core, brand equity thesis, and will change easier with fashion, style or technology.
Doyle—; Kapferer37—42 The set of brand style and themes can be described as a six-sided identity brand equity thesis. The first three facets of culture, brand equity thesis, personality and self-image are incorporated within the brand itself and the last three facets of physique, reflection and relationship are the social facets which give the brand its outward expression.
These outward facets are communicated explicitly and they are visible and material. The brand pyramid and the identity prism are illustrated in figure 1. Doyle—; Kapferer75—77 The emotional and representational components in the identity prism are more valuable, because the component of physique only forms the first stage in brand building.
The intangi- 69 ble elements refer to the beliefs and meanings created in the minds of consumers. TUOMINEN FIGURE 1. The brand pyramid and the identity prism. First, they ena- ble management and their agencies to understand the brand, its strengths and opportunities.
Third, brand equity thesis, they enable the brand team to develop consistency in the message being transmitted through packaging and design, advertising, below-the-line activities and through potential brand extensions. Doyle— 70 1. For decades the value of a firm was measured in terms of its real estate, then tangible assets, plants and equipment.
Aaker ; Pearson ; Ind Customers brand equity thesis other stakeholders in- tegrate all they see, hear and read about a product with all their experiences using or consum- ing it to form a single, but often complex, mental image about both the physical product and the company that makes it.
Keegan — Moriarty — DuncanIn paying very high pric- es for companies with brands, buyers are actually purchasing a position in the minds of poten- tial customers. Awareness, trust and reputation are the best guarantees of future earnings, brand equity thesis.
Brand Equity – What is it and How Do I Build it?
, time: 14:12Brand equity pdf thesis proposal
order to further clarify the relationship between brand equity and the horizontal brand extension, the following hypotheses are formulated: H1: There is a positive relationship between the perceived quality of the luxury parent brand and brand loyalty to the luxury parent brand Jul 31, · Sample Thesis Paper. In Dijsterhuis and Olden’s Journal of Experimental Social Psychology, both the brand equity and brand value, demonstrate the brand’s worth in terms of how the direct and downstream customers will benefit- from the start when the ingredient is included in the product. 7 On examining how the two relate to the first aspect (government regulation on the Simon and Sullivan () define brand equity as the incremental cash flows which accrue to branded products furthermore for the money flows that might originate from purchasing unbranded products (p. 29). These authors estimate a firm’s brand equity by deriving financial market estimates from Estimated Reading Time: 9 mins
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