Brand Equity

Brand Equity

Sources of brand equity: customer based brand equity occurs when the customer has a high level of awareness and familiarity with the brand and holds some strong favorable and unique brand association in memory. It includes

Brand Awareness: it consists of brand recognition and brand recall
• Brand recognition: it relates to customer’s ability to confirm prior exposures to the brand when given the brand as cue.
• Brand recall: it relates to the customer’s ability to retrieve the brand from the memory when given the product category the needs fulfilled by the category or purchase or usage situation as a cue.

Brand Image: it consists of
Strength of brand association: making sure that associations linked sufficiently strongly to the brand will depend on how the marketing program and other factors affect customers brand experiences.
• Brand benefits: they are the personal values and meaning that consumers attach to the product or service attributes.
• Brand attributes: they are those descriptive features that characterize a product or service
Favorability of brand association: for a brand they are those associations that are desirable to consumers and are successfully delivered by the product and conveyed by the supporting marketing program for the brand.
Uniqueness of brand association: the essence of brand positioning is that the brand has sustainable competitive advantage or USP that gives consumers a compelling reason why they should buy that particular brand. These differences may be communicated explicitly by making direct comparison with competitors.

Brand Building Blocks
Brand Salience: achieving the right brand identity involves creating brand salience with customers. It relates to aspects of the awareness of the brand.
Brand Performance: it relates to the ways in which the product or services attempts to meet customer’s more functional needs, which includes
• Primary ingredients and supplementary features
• Product reliability durability and serviceability
• Service effectiveness and efficiency
• Style and design
• Price





Brand Imagery: brand imagery is how people think about a brand abstractly rather than what they think the brand actually does.
Brand Judgment: it focuses on customer’s personal opinion and evaluations with regards to the brand. It involves how customers put together all the different performance and imagery associations of the brand to form different kinds of opinions. It includes
• Brand quality: brand quality
• Brand credibility: credibility
• Brand consideration: make purchase or not
• Brand superiority: offering advantages that other brands don’t
Brand Feeling: they are emotional responses and reactions with respects with respect to the brand. It includes
• Warmth: sentimental
• Fun: upbeat types of feeling
• Excitement:
• Security
• Social Approval
• Self respect
Brand Resonance: it refers to the nature of this relationship and the extent to which customers feel that they are in sync with the brand like harley Davidson. It includes
Behavioral loyalty: repeat purchase
Attitudinal Attachment: closeness to the attitude
Sense of community: community feeling
Active engagement: joining clubs