Differentiation
According to Porter (1998), differentiation helps to form competitive advantage of a corporate. Differentiation could be achieved by various approaches and may be different “among industries” (Budayan et al., 2013). Different industries have their own unique characteristics so that the differentiation strategies need to be different. It is better to see it as “customer perception” rather than the “objective characteristics of the products and services” (Fisher, 1991). The special feeling of customer perception would add a “premium price” for the products and services (Douglas et al., 2010). In other words, differentiated products or services would have the particular characteristics, which are valued by consumers worthy of …show more content…
After Aaker proposed the concept of “brand equity”, which is a kind of intangible asset of companies, other researchers have developed it into various industries to solve problems. First of all, “brand equity is the set of brand assets and liabilities that is linked to a brand, its name and symbol that add to or subtract from the value provided by a product or services to a firm and/or to that firm’s customers” according to Aaker (1991). In addition, it is related to the result of gaining “value” to the “products” and services from makes (Farquhar, 1989). Moreover, it indicates the extent of effectiveness in applying the “brand strategies” (Seo et al., 2013). Last but not least, the high brand equity means the appropriate application of brand strategies, while the low brand equity represents the ineffective utilization of brand …show more content…
Aaker has proposed the first version, including “perceived quality, brand associations, brand awareness, brand loyalty and other priority assets” (Aaker, 1991; Selase Asamoah, 2014). Later, Keller (1993) has proposed two more components, “brand awareness and brand knowledge”, into brand equity based on Aaker’s view. In this research, the author adopts the Kim et al. (2008)’ framework, like Fig. 3. These findings are from consumers’ perspective and each components of the brand equity could be divided into several factors, which is related to them. These components influence the “performance” of the brand individually (Selase Asamoah, 2014). Thus, the components of brand equity needs certain amounts of research to further
According to Porter (1998), differentiation helps to form competitive advantage of a corporate. Differentiation could be achieved by various approaches and may be different “among industries” (Budayan et al., 2013). Different industries have their own unique characteristics so that the differentiation strategies need to be different. It is better to see it as “customer perception” rather than the “objective characteristics of the products and services” (Fisher, 1991). The special feeling of customer perception would add a “premium price” for the products and services (Douglas et al., 2010). In other words, differentiated products or services would have the particular characteristics, which are valued by consumers worthy of …show more content…
After Aaker proposed the concept of “brand equity”, which is a kind of intangible asset of companies, other researchers have developed it into various industries to solve problems. First of all, “brand equity is the set of brand assets and liabilities that is linked to a brand, its name and symbol that add to or subtract from the value provided by a product or services to a firm and/or to that firm’s customers” according to Aaker (1991). In addition, it is related to the result of gaining “value” to the “products” and services from makes (Farquhar, 1989). Moreover, it indicates the extent of effectiveness in applying the “brand strategies” (Seo et al., 2013). Last but not least, the high brand equity means the appropriate application of brand strategies, while the low brand equity represents the ineffective utilization of brand …show more content…
Aaker has proposed the first version, including “perceived quality, brand associations, brand awareness, brand loyalty and other priority assets” (Aaker, 1991; Selase Asamoah, 2014). Later, Keller (1993) has proposed two more components, “brand awareness and brand knowledge”, into brand equity based on Aaker’s view. In this research, the author adopts the Kim et al. (2008)’ framework, like Fig. 3. These findings are from consumers’ perspective and each components of the brand equity could be divided into several factors, which is related to them. These components influence the “performance” of the brand individually (Selase Asamoah, 2014). Thus, the components of brand equity needs certain amounts of research to further