Brand equity is “the marketing and financial values linked with a brand’s strength in the market, including actual proprietary brand assets, brand name awareness, brand loyalty, perceived brand quality, and brand associations” (Pride & Ferrell, 2003, p. 299).
Brand equity can also be defined as “A set of assets and liabilities linked to a brand, its name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or to that firm‟s customers.” – David Aaker 1991
Brand equity can be said to be of the most valued assets that a firm can have, and both brand equity measurement and brand equity management continue to remain important in marketing and management areas of research in both academia and industry. …show more content…
Brand knowledge has a huge effect on how consumers react or respond to any product communications, prices and other every other product marketing activity thereby increasing or decreasing the brand value in the process.
In this manner, customer-based brand equity has been said to be the differential outcome that consumer brand knowledge has on their reaction to brand marketing activity (Keller, 2003).Brand knowledge is not the realities and truths about the brand, it is all the thoughts, feelings, perceptions, images, experiences, and more that becomes linked to the brand in the minds of the consumers. All of these kind of information can be thought of in terms of a set of associations to the brand in consumer memory.
Subsequently, brand knowledge can be seen in terms of an associative network memory model as a network of nodes and links where the brand can be thought of as being a node in memory with a variety of different types of associations potentially linked to it although (Janiszewski & van Osselaer, 2000). Two very important mechanisms of brand knowledge are brand awareness and brand …show more content…
et al. (2006), explains brand awareness as an essential part of creating brand image, because when a brand is well grounded in the memory it makes it much easier for associations to be created and committed. For this reason, can we indicate that building a solid brand image depends on possessing high brand awareness. According to Aaker (1991), there are few guidelines to improve brand awareness, such as being distinct and pleasantly memorable, creating a unique slogan or jingle, symbol or logo exposure, publicity, event sponsorship and partnership, good public relations, considering brand extensions, using cues, recall requires repetition and the recall bonus. These days, brands need to build a strong image and possess high awareness to succeed in extremely competitive environments. Any brand with higher awareness as compared to its competitors can gain higher brand equity. In other words, the brand can generate more
Brand equity can also be defined as “A set of assets and liabilities linked to a brand, its name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or to that firm‟s customers.” – David Aaker 1991
Brand equity can be said to be of the most valued assets that a firm can have, and both brand equity measurement and brand equity management continue to remain important in marketing and management areas of research in both academia and industry. …show more content…
Brand knowledge has a huge effect on how consumers react or respond to any product communications, prices and other every other product marketing activity thereby increasing or decreasing the brand value in the process.
In this manner, customer-based brand equity has been said to be the differential outcome that consumer brand knowledge has on their reaction to brand marketing activity (Keller, 2003).Brand knowledge is not the realities and truths about the brand, it is all the thoughts, feelings, perceptions, images, experiences, and more that becomes linked to the brand in the minds of the consumers. All of these kind of information can be thought of in terms of a set of associations to the brand in consumer memory.
Subsequently, brand knowledge can be seen in terms of an associative network memory model as a network of nodes and links where the brand can be thought of as being a node in memory with a variety of different types of associations potentially linked to it although (Janiszewski & van Osselaer, 2000). Two very important mechanisms of brand knowledge are brand awareness and brand …show more content…
et al. (2006), explains brand awareness as an essential part of creating brand image, because when a brand is well grounded in the memory it makes it much easier for associations to be created and committed. For this reason, can we indicate that building a solid brand image depends on possessing high brand awareness. According to Aaker (1991), there are few guidelines to improve brand awareness, such as being distinct and pleasantly memorable, creating a unique slogan or jingle, symbol or logo exposure, publicity, event sponsorship and partnership, good public relations, considering brand extensions, using cues, recall requires repetition and the recall bonus. These days, brands need to build a strong image and possess high awareness to succeed in extremely competitive environments. Any brand with higher awareness as compared to its competitors can gain higher brand equity. In other words, the brand can generate more