...influence of marketing communications on brand awareness and loyalty The influence of marketing communications on brand awareness and loyalty Introduction The study analyses the importance of spending on marketing communication to achieve brand loyalty and brand awareness. Brand awareness and brand loyalty are dimensions of brand equity. Brand equity refers to the value added to a product in its relationship with customers. Research indicates that brand equity is a strategic aspect of marketing management and can be created by strengthening one of its dimensions (Giese & Cote, 2000). Consequently, marketing has a potential effect on the brand equity because brand equity represents the impact of investment in the brand. The consumers are attracted to the product brand. The organization without brand deficits to sustain the competitor’s strength equates towards opponent brand equity (Grossmanova, Vojtkova & Kita, 2009). Organization should recognize its brand as an indefinable property. There is a direct connection with organization brand equity inside an intensive economics. Thus, companies need to look at the brand process and carry out these methods to cope with the well-known brands (Morgan & Hunt, 1994). The brand offers distinct concepts and features, thus conveying relevant information to the consumers. Although advertising plays an essential role in the marketing programs and strategies, growth and development of brand equity the primary...
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...International Journal of Applied Services Marketing Perspectives © Pezzottaite Journals. 597 | P a g e ROLE OF ADVERTISEMENT IN MANAGING THE BRAND EQUITY OF CARBONATED DRINKS AMONG GENERATION-Z Dr. Nishakant Ojha1 ABSTRACT Companies spend large amount of their money on building brand equity. This study explores the relationship between advertising and brand equity. The purpose of this study is to how advertisements of carbonated drinks acts as stimuli in influencing purchase decision of generation-Z. It also explores the role of electronic media in advertising. Data for the study has been collected by using the survey method using convenience sampling and Judgment Sampling among Generation-Z i.e. respondents born in 1989 - till 2000s respondents in Jalandhar and Phagwara city, Punjab. The reliability of data was established using Cronbach’s coefficient Alpha. The data reduction technique of factor analysis was used for introspection of data. KEYWORDS Advertising, Brand Equity, Effective Medium, Generation Z etc. INTRODUCTION The prime goal of every business organization is to build strong brand equity (Keller and Lehmann, 2006). The biggest thrust behind the buying habits of consumers is brand equity. Brand equity is defined as the value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. It provides an advantage of larger margins, greater intermediary cooperation and support, and brand extension opportunities (Delgado-Ballester...
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...Varying Perspectives on Brand Equity By Jonathan Knowles 20 ❘ MM July/August 2008 Yo u s a y t o m a y t o a n d I s a y t o m a h t o . I started business life in finance (at the Bank of England in London), and in those early days I did not give brands a second thought. My life was dominated by financial facts and figures. And for the first 10 years of my career, I believed that these metrics were essentially all that were needed to manage and run a successful business. This view survived my transition into management consulting—at least initially. But the more I worked on developing value-based business strategies for companies, the more I came to appreciate the need to expand beyond a purely financial approach. If (as management consultant Peter Drucker famously observed) the purpose of business is to create and keep a customer, then strategy necessarily involved understanding and catering to the functional and emotional needs of customers. MM July/August 2008 ❘ 21 EXECUTIVE Brand equity is a widely accepted concept—but its definition is frustratingly elusive. Here we’ll explore the different perspectives that marketing, finance, and accounting have on the topic— and how these can be reconciled. Doing so is important because of the critical role that brand briefing equity plays in the demonstration of marketing accountability. This article puts forward four arguments that marketers can use to show how brand equity is a critical measure for...
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...BRANDS AND BRANDING: RESEARCH FINDINGS AND FUTURE PRIORITIES Kevin Lane Keller Tuck School of Business Dartmouth College Hanover, NH 03755 (603) 646-0393 (o) (603) 646-1308 (f) kevin.keller@dartmouth.edu Donald R. Lehmann Graduate School of Business Columbia University 507 Uris Hall 3022 Broadway New York, NY 10027 (212) 854-3465 (o) (212) 854-8762 (f) drl2@columbia.edu August 2004 Revised February 2005 Second Revision May 2005 Thanks to Kathleen Chattin from Intel Corporation and Darin Klein from Microsoft Corporation, members of the Marketing Science Institute Brands and Branding Steering Group, and participants at the Marketing Science Institute Research Generation Conference and 2004 AMA Doctoral Consortium for helpful feedback and suggestions. BRANDS AND BRANDING: RESEARCH FINDINGS AND FUTURE PRIORITIES ABSTRACT Branding has emerged as a top management priority in the last decade due to the growing realization that brands are one of the most valuable intangible assets that firms have. Driven in part by this intense industry interest, academic researchers have explored a number of different brand-related topics in recent years, generating scores of papers, articles, research reports, and books. This paper identifies some of the influential work in the branding area, highlighting what has been learned from an academic perspective on important topics such as brand positioning, brand integration, brand equity measurement, brand growth...
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...^^ rives . Customer Equity A company's current customers provide the most reliable source of future revenues and profits. t By Katherine N. Lemon, Roland T. Rust, and Valarie A. ZeithamI 20 I MM S p r i n g 2001 C o n s i d e r t h e i s s u e s facing a typical brand manager, product manager, or marketing-oriented CEO: How do I manage the brand? How will my customers react to changes in the product or service offering? Should 1 raise price? What is the best way to enhance the relationships with my current customers? Where should I focus my efforts? Business executives can answer such questions by focusing on customer equitythe total of the discounted lifetime values of all the firm's customers. A strategy based on customer equity allows firms to trade off between customer value, brand equity, and customer relationship management. We have developed a new strategic framework, the Customer Equity Diagnostic, that reveals the key drivers increasing the firm's customer equity. This new framework will enable managers to determine what is most important to the customer and to begin to identify the firm's criticai strengths and hidden vulnerabilities. Customer equity is a new approach to marketing and corporate strategy that finally puts the customer and, more important, strategies that grow the value of the customer, at the heart of the organization. For most firms, customer equity is certain to be the most important determinant of the long-term value of the firm....
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...t ^^ rives . Customer Equity A company's current customers provide the most reliable source of future revenues and profits. By Katherine N. Lemon, Roland T. Rust, and Valarie A. ZeithamI 20 I MM S p r i n g 2001 C o n s i d e r t h e i s s u e s facing a typical brand manager, product manager, or marketing-oriented CEO: How do I manage the brand? How will my customers react to : r changes in the product or service offering? Should 1 raise price? What is the best way to enhance the relationships with my current customers? Where should I focus my efforts? Business executives can answer such questions by focusing on customer equitythe total of the discounted lifetime values of all the firm's customers. A strategy based on customer equity allows firms to trade off between customer value, brand equity, and customer relationship management. We have developed a new strategic framework, the Customer Equity Diagnostic, that reveals the key drivers increasing the firm's customer equity. This new framework will enable managers to determine what is most important to the customer and to begin to identify the firm's criticai strengths and hidden vulnerabilities. Customer equity is a new approach to marketing and corporate strategy that finally puts the customer and, more important, strategies that grow the value of the customer, at the heart of the organization. For most firms, customer equity is certain to be the most important determinant of the ...
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...Brand Equity Introduction Brands has been around for centuries and play a major role in our lives today it helps us identify a good or service from one seller to another and separate it from the competitors satisfying the same need. These differences could be tangible or intangible which ultimately helps to improve consumers’ lives and enhance the financial value of firms. What is Brand Equity? Brand equity has number of perspectives, but in essence means the value or perception created to a product or service in the minds of the consumer through the activities leading to create a strong consistent brand. This is also called “Brand goodwill” by accountants. The Role of brands As stated by Kotler et al (2012) Brands help to identify the maker of a product and assign responsibility for its performance, helps consumers to evaluate identical products, simplify decision making and reduce risks. It further states brands help firms to simplify product handling and tracing, organize inventory and accounting. A Brand helps firms to invest and reap the benefits of intellectual property rights by obtaining Legal protection through patents, trademarks and copyrights. Scope of Branding Branding involves careful planning and positioning marketing activities and programs to build a strong and reliable brand in the mind of the consumer. As stated in Kotler et al (2012) it is all about creating differences between products. The marketer should develop marketing to build awareness...
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...the majority Tesco Clubcard holders strongly agreed or agreed that the Clubcard made them to shop at Tesco more frequently and repeatedly. The Clubcard does have positive impact on customer loyalty to Tesco. Tesco Clubcard is not merely a gimmick that uses to draw customers attention towards the business; instead, every time the customers use it, the database records customers buying behaviour like purchasing habit, purchasing frequency, purchasing preference, etc., to Tesco. Tesco reviews these data and improves service to the customers. It is not surprising that Tesco is the giant in UK supermarket share. Email marketing Email marketing is another common marketing strategy in this ever changing society. Compared to others marketing means like direct mailing, advertising, email is a more economical and easier way to keep the customers updated with their brand. According to Merisavo and Raulas (2004), Email...
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...com/0263-4503.htm Brand equity for online companies Rosa E. Rios Australian College of Kuwait, Safat, Kuwait, and Brand equity for online companies 719 Received 1 May 2008 Revised 1 July 2008 Accepted 1 July 2008 Hernan E. Riquelme Kuwait-Maastricht Business School, Salmiya, Kuwait Abstract Purpose – The purpose of this paper is to determine if the traditional approach to measuring brand equity applies to online companies. Design/methodology/approach – This objective is pursued by: developing a measurement model of brand equity for online businesses; and testing the nomological validity of the model using structural equation modelling. Findings – This study finds partial support for the application of the offline brand equity theoretical framework based on brand awareness, brand associations and loyalty for online companies. Brand loyalty and brand value associations directly create brand equity. Research limitations/implications – The study is cross-sectional, the indicators or observable variables used in this study may not be deemed comprehensive enough, no interaction effects have been incorporated, and finally, the research study was based on a few online business retailers. Practical/implications – The results support the view that a consumer’s perceived sense of value resulting from a transaction with an online business develops loyalty. Also, brand-trust association and brand awareness indirectly contribute to creating brand equity through their influence...
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...Journal of Marketing Communications Vol. 15, Nos. 2 – 3, April– July 2009, 139–155 Building strong brands in a modern marketing communications environment Kevin Lane Keller* E.B. Osborn Professor of Marketing, Tuck School of Business, Dartmouth College, 100 Tuck Hall, Hanover, NH 03755, USA To help marketers to build and manage their brands in a dramatically changing marketing communications environment, the customer-based brand equity model that emphasizes the importance of understanding consumer brand knowledge structures is put forth. Specifically, the brand resonance pyramid is reviewed as a means to track how marketing communications can create intense, active loyalty relationships and affect brand equity. According to this model, integrating marketing communications involves mixing and matching different communication options to establish the desired awareness and image in the minds of consumers. The versatility of on-line, interactive marketing communications to marketers in brand building is also addressed. Keywords: customer-based brand equity; brand resonance; brand building; integrated marketing communications; interactive marketing communications Introduction The marketing communications environment has changed enormously from what it was 50, 30 or perhaps even as few as 10 years ago. Technology and the Internet are fundamentally changing the way the world interacts and communicates. At the same time, branding has become a key marketing priority for most companies...
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...Explain the Impact of Promotion Elements on Brand Equity (Case study: Samsung Brand) #1 1 Hamidreza Salmani Mojaveri, #2Amin Allahbakhsh, #3Mostafa Salmani Mojaveri Ph.D. candidate, Department of Management and Economic, Science and Research Branch, Islamic Azad University, Tehran ,Iran mazisalmani@yahoo.com 2 Master of Executive Management, Payam e Noor University, Babol, Iran 3 Department of Industrial Engineering student , Department of Industrial Engineering, Islamic Azad University,Firoozkoh,,Iran Abstract— This study has been examines the relationship between elements of promotion and brand equity in the home, audio and video products (Samsung brand case study). Type of present Research Method is descriptive and correlation based on structural equation modeling. For this purpose a questionnaire with 36 questions has been designed. Results of data analysis with use structural equation modeling is supported the research hypotheses about the direct effects of variables on each other. Results indicate positive effects of the brand equity dimensions on the brand equity and strong impact of promotion dimensions on these dimensions. finally use of brand enrichment activities (such as extensive advertising, employing qualified and efficiently vendors, increase communication with goal customer use of various and appropriate sales promotion and extensively , use of marketing without intermediaries e.g. creating sites) to create brand equity for products home , audio and video products...
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...What valuable functions can brands perform for a firm? Brands also perform valuable functions for firms. First, they simplify product handling or tracing. Brands help to organize inventory and accounting records. A brand also offers the firm legal protection for unique features or aspects of the product. 120. Describe the three ingredients of customer-based brand equity. There are three key ingredients of customer-based brand equity. 1. Brand equity arises from differences in consumer response. If no differences occur, the brand-name product is essentially a commodity, and competition will probably be based on price. 2. Differences in response are a result of consumers’ brand knowledge, all the thoughts, feelings, images, experiences, and beliefs associated with the brand. Brands must create strong, favorable, and unique brand associations with customers, as have Toyota (reliability), Hallmark (caring), and Amazon.com (convenience). 3. Brand equity is reflected in perceptions, preferences, and behavior related to all aspects of the marketing of a brand. Stronger brands lead to greater revenue. 121. Advertising agency Young and Rubicam (Y&R) developed a model of brand equity called Brand Asset Valuator (BAV). What is the intent of the BAV model? List and briefly characterize the four key components (pillars) of brand equity. Based on research with almost 800,000 consumers in 51 countries, BAV compares the brand equity of thousands of brands across hundreds of different...
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...Name: Mphatso Jacqueline Konyani GCD: 3455 Module: Principles of Marketing Lecturer: Tracy Gallagher Assignment: Branding Executive summary In this paper, the author will critically discuss the role of branding plays in a globalisation economy; this will be done by identifying the roles and describing them. The paper will also examine how marketers build brand equality using two case studies to illustrate theory This research will be done by drawing on relevant theoretical models; recent international case studies and reflects on the writings of academic writers and so on. Based on the evidence found when researching this paper, theorists Branding Branding is a differentiation of a product which helps in adding value to them. It helps companies to distinguish their products from those that are on the market. An example of this is if Penny’s stores was to have in store Brown Thomas products, customers would expect those products to be less expensive and of the lowest quality, the same goes for if Brown Tomas was to display a product from Penny’s, consumers would regard the product as expensive and of high quality, this is so because of the belief that consumers have for a particular brand. Brassington & Pettitt (2006) defined branding as a way of linking together items within a product line or emphasising the individuality of product items by making them easily identifiable. However Jobber and Fahy (2006) give a more detailed definition of branding where they go on and...
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...Product and Brand Management (MGMT-MKTG-638) - Revision Exercises - 1. “Customer analysis & competitor analysis are necessary for developing product strategy”. Comment. 2. Explain the steps involved in developing a new product with suitable examples. . Idea Generation The development of a product will start with the concept. The rest of the process will ensure that ideas are tested for their viability, so in the beginning all ideas are good ideas (To a certain extent!) Ideas can, and will come, from many different directions. The best place to start is with a SWOT analysis, (Strengths, Weaknesses, Opportunities and Threats), which incorporates current market trends. This can be used to analyse your company’s position and find a direction that is in line with your business strategy. In addition to this business-centred activity, are methods that focus on the customer’s needs and wants. This could be: •Under-taking market research •Listening to suggestions from your target audience – including feedback on your current products’ strengths and weaknesses. •Encouraging suggestions from employees and partners •Looking at your competitor’s successes and failures #2. Idea Screening This step is crucial to ensure that unsuitable ideas, for whatever reason, are rejected as soon as possible. Ideas need to be considered objectively, ideally by a group or committee. Specific screening criteria need to be set for this stage, looking at ROI, affordability...
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...article explains the concept of brand equity in a specific industrial marketing setting. Studies do point out cases where price and the hard tangible factors of the physical product do not fully explain the purchase decision. The purpose of this study: To explore the existence of brand equity in a specific business-tobusiness product setting; To investigate the sources of brand equity and its appropriate communication channels; The relative importance of brand relative to other purchase decision criteria. BRAND A brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” BRAND EQUITY Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm. Aaker (1996) Keller (1998) LOYALTY AWARENESS ASSOCIA TIONS BRAND EQUITY PERCEIVED QUALITY AWARE NESS IMAGE BRAND EQUITY The competitive advantage of firms that have brands with high equity include the following: a. A price premium can be attained b. Increased demand by customers c. Brands can be extended easily d. Communications...
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