Essay on The Analysis of Brand Equity

8333 Words Dec 18th, 2014 34 Pages
Cornell Hotel and Restaurant Administration Quarterly http://cqx.sagepub.com Measuring Customer-Based Restaurant Brand Equity
Woo Gon Kim and Hong-Bumm Kim Cornell Hotel and Restaurant Administration Quarterly 2004; 45; 115 DOI: 10.1177/0010880404264507 The online version of this article can be found at: http://cqx.sagepub.com/cgi/content/abstract/45/2/115

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The Center for Hospitality Research of Cornell University

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One other contrary finding was that although brand equity comprises all four factors being tested, awareness showed the smallest effect on brand equity, far eclipsed by image, loyalty, and product quality. Keywords: brand equity; brand image; brand loyalty; firms’ performance

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he most important assets for many restaurant businesses are the brand name and what that brand represents. If handled appropriately, branding adds to the food-service firms’ competitive advantage. Most restaurant chains have recognizable

MAY 2004

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Cornell Hotel and Restaurant Administration Quarterly

115

MANAGEMENT

BRAND EQUITY

brand identifiers. Customers easily recognize the red-and-white canopy of T.G.I. Friday’s, for instance, or McDonald’s golden arches.1 Beyond the visible or tangible factors, though, the meaning of a brand—that is, the underlying attributes—is critical to the success of food-service firms because strong brands often provide the primary points of differentiation between various competitors. Strong brands aid customers in better visualizing and understanding intangible products and services. Furthermore, they reduce customers’ perceived monetary, social, or safety risks in buying services, which are difficult to evaluate before purchase.2 Building a strong brand with great equity provides a number of possible benefits to a service

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