...Brandind models – similarities and differences Submitted to: Mr Hassan Raza Consumer Based Brand Equity Model CBBE model endorses the fact that the power of a brand in actual lies within the minds of its customers. Various components of the CBBE model act as building blocks to enhance the marketing program of a brand. * Salience represents the bottom of the customer-based brand equity pyramid. This refers to what customers associate with a particular brand. * Performance categorizes brand awareness traits, and the types of products associated with the brand. Company reputation for service and reliability also factor in. * Imagery refers to the company image; it relates to emotional marketing, which has been proven more persuasive than factual approaches. The customer-based brand equity model relies on the description of a company's image and other intangible impressions from the user experience. These might include user profiles, experiences, and how a customer relates to the company or products in general. * Judgments and feelings fall on the next step up of the customer-based brand equity model. Generally, these aspects look at what a customer thinks and how a customer feels about a brand. * Resonance describes the resulting customer loyalty and engagement with the brand. It describes whether a brand has a marked presence in the customers' minds or is just an indistinct blip on their radar screens. BAV Model BAV Model measures the brand value of...
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...is concerned with instituting measures to brand itself within the market and gain an appreciable competitive advantage over other players in the market. Most of the companies concentrate on what makes a brand strong and how to build a strong brand. In this regard, these questions can only be answered by applying Customer-Based Brand Equity (CBBE) model. This model facilitates in understanding the brand equity and ways inn which it is supposed to be built, evaluated, and managed. Besides, the approach of this model is from a customers’ perspective, individual or organization, because they are the nerve of successful marketing. Reason being marketers are wary of ‘what do different brands mean to consumers?’ and ‘how does the brand knowledge of consumers affect their response to marketing activity?’ Brand is an important asset to any business and it depicts what a business enterprise is made of or it is about in a snapshot. Park et al. (1986) in his work agues that brand represent an enormous valuable property and are capable of influencing customer’s behavior or will as facilitating security for sustained future revenues to the business enterprise. The fundamental concept of brand equity lies in the fact that the brand has power implanted in customer’s mind and this is facilitated by their experience over a long period of time. Therefore, brand equity is a culmination of processes that head to realization of a special and distinct brand identify. In this respect, this paper takes...
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...four steps of customer-bases brand equity (CBBE) in the Ralph Lauren brand and describing to what extent I think the Ralph Lauren brand has achieved resonance with its customers, moreover I will also be describing the Points of Parity (POP) and Points of Difference (POD) of the Ralph Lauren brand. I will also be recommending ways through which the brand can continue to be successful in the future. Polo Ralph Lauren created in 1967 by Mr Ralph Lauren is considered nowadays as one of the well-known brands throughout the world. As a famous global player in the design and lifestyle marketing industry, Polo Ralph Lauren range its product lines from relatively inexpensive to expensive brand in offering men’s, women’s and children garment and accessories and also perfumes and home furnishings. Widely perceived as the number one brand that represents the American Style, Polo Ralph Lauren has adopted a whole marketing strategy leading to a strong brand equity since its setting up. Moreover, the brand sells its goods internationally (9,000 Locations worldwide) while keeping its 44 years reputation and distinctive image developed across the different products and brands markets. Due to its marketing tools and its high quality brand image, this luxury brand keeps a constant relationship with its customers. This report will first of all highlights how Ralph Lauren brand has achieved this complete resonance with its consumers through the all four steps of Keller’s CBBE model since its creation...
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...Brand Audit of Canon Brand audit is a comprehensive examination of a brand to discover its sources of brand equity. Just like we learnt about financial auditing, which gives us a report stating the financial health of an organization the same idea is applied in marketing. Product features: 1. Resolution 2. Lens 3. Viewfinder 4. ISO 5. Shutter 6. Dimensions 7. Weight 8. Price 9. In-built flash Brand Inventory: The purpose of brand inventory is to provide a current, comprehensive profile of how the products of the company are lined. It has been explained in the previous chapters. Another purpose of brand inventory is to list out the pricing, distribution and communication done by the company for their products. Canon has a mix of print, tv ads, special offers and sales promotion activities in their marketing communication basket. Relatively, tv ads are more prominent as their communication medium. For the 100th century of Sachin Tendulkar, canon has planned to have a competition between loyal users of canon cameras. The winner of the competition will get gifts and chance to meet Sachin Tendulkar in person. They have had a close relation with cricket in India. Canon sponsored IPL and their PowerShot range was promoted through this. Every 4 or 6 that was hit, was termed as a PowerShot. Canon has around 300 primary level channel partners, 13 National Retail chain partners, 4 Level IV Master Service Centres; over...
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...Research Proposal Brand and Consumer Behaviour of Innocent Module title: Research Methods Module number: M25BSS Module Leader: Dr Steve Jew By: Mahdieh Mehrabi Moezabadi (SID: 3576238) MBA MARKETING 1. Title 2. Background 3. Preliminary Review of Literature 4. Research Questions and Objectives 4.1. Questions 4.2. Objectives 5. Research Plan 5.1. Research Perspectives 5.2. Research Design 5.3. Data collection 5.3.1. Methods 5.3.1.1. Secondary Data 5.3.1.2. Primary data 5.3.2. Use of primary and secondary data 5.3.3. Access and sampling strategy 5.3.4. Data analysis and presentation 5.4. Limitations of research 5.4.1. Validity 5.4.2 Reliability 5.4.3. Generalisability 6. Ethical considerations 7. Planning 8. References 1 1 2 5 5 5 5 5 6 6 6 7 7 7 7 8 8 8 9 9 9 9 11 1. Title Brand and Consumer Behaviour of Innocent 2. Background At the time of the integration of world economy, competition has become stronger and for the success of company activity in national, regional, and world markets, one of the most important factors is to effectively manage quality and its means of identification such as trade and quality marks, brands, etc. There has been a growth in the products with different brands and trademarks as well as in consumption of goods. In the modern days, brands symbolize different sets of meanings, generating specific associations or emotions for every consumer. The brand is the competitive advantage for a company and a source of added value which leads to...
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...The term “brand equity” is a combination of brand value, brand strength and brand image (also referred as brand description).The ability of a brand description to be able to cater to the needs and wants of a target market using the right marketing mix leading to the brand strength (loyalty) which ultimately leads to the brand value thus making these three interconnected and forming a brand equity chain. On the basis of this, brand equity is defined as the value brought about by the various benefits of brand such as security of sustained future revenue. There are different ways of measuring brand equity or the “added value”. The value is derived from the actions of consumers who rely on brand knowledge structures and who respond to products, price, communication etc. Two important components for this brand knowledge are brand awareness and brand image. While brand awareness is characterized by breadth and depth in terms of various consumption situations the brand comes to mind and the likelihood that the brand is recalled, brand image is consumer perceptions about the brand. The second article gives an in depth knowledge about the ways to measure a brand equity system which help in interpreting marketing strategies and assessing the value of the brand. The third article covers the brand valuation literature. This brand valuation can be measured by looking into two areas i.e :marketing measurement and financial treatment of brands. But there are various obstacles to this valuation...
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...Brand Equity Aims Ø Three Types of Brand Equity Ø What are they? Ø How to create and measure? 1 Brand Excels at Delivering Benefits Customers Truly Desire Strongly Agree Strongly Disagree Brand Stays Relevant Strongly Agree Strongly Disagree 2 Brand is Properly Positioned Strongly Agree Strongly Disagree Brand is Consistent Strongly Agree Strongly Disagree Brand Managers Understand what the Brand Means to Consumers Strongly Agree Strongly Disagree 3 Brand Equity Brand Equity: 3 Approaches 1. Customer Based Brand Equity (CBBE) 2. Financial Brand Equity 3. Employer Brand Equity CBBE Customer-based Brand Equity: Differential effect that brand knowledge has on consumer response to the marketing of that brand 4 Customer-Based Brand Equity (CBBE) Model Consumer Response to Marketing Brand Knowledge Differential Effect Brand Equity arises from differences in CONSUMER response What CONSUMERS learn, felt, seen, heard, experienced over time Reflected in CONSUMER perceptions, preferences, and behavior related to all aspects of the marketing of a brand The Brand is in the Mind of the Customer • What do I know about it? • What do I feel towards it? • What was it like to use? How does a Crow count? 5 Brand Identity “Brand identity is a unique set of associations the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise...
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...Overview of the CBBe Model American scholar Kevin Lane Keller (Kevin Lane Keller) in 1993 proposed CBBE model (Customer-Based Brand Equity), which is based on consumer brand value model for their own brand building the key way. In this model. Various elements designed to be comprehensive, interrelated and feasible, but, CBBE model implies the premise that the brand is present in consumer brand knowledge, feeling and experience, that force is the brand name with a brand with the passage of time exists in the heads of all the consumer experience combined. Therefore, the purpose of the work enterprise is to try to ensure that consumers have for the brand characteristics of its products and services adapted to experience a positive act for the corporate marketing and a positive attitude and a positive brand image for the evaluation. In accordance with Keller's view, the model was created to answer the following two questions: First, what elements constitute a strong brand; the second is how to build a strong corporate brand. 1. According to CBBE model, build a strong brand requires the work of four steps: establish the right brand identity; create an appropriate brand meaning; guide the correct brand response; to create the appropriate relationship between the consumer of a brand. 2. Meanwhile, the four steps and relies on building the brand's six dimensions: significant; performance; image; evaluation; feeling; resonance. Which corresponds to a significant brand identity, brand performance...
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...LITERATURE REVIEW WHAT IS A BRAND? Branding is a discipline that has emerged from the consumer goods domain particularly fast moving consumer goods. Historically, brand has been inextricably linked to the product and branding is seen as the process of adding value to the product. A brand is a cluster of functional and emotional benefits that extend a unique and welcomed promise. This conceptualisation of a brand is universal and applies to various domains including FMCG, internet services and B2B. What changes in every context is the enactment of the brand. It is argued that the concept of a brand is universal, however some adjustments are required in line with the specific context applied; in this case the B2B context. Branding has myopically been viewed by business marketers as largely irrelevant to business markets. Associated mostly with emotional value, branding was believed to offer very little to what is traditionally considered a very rational process i.e. the organisational decision making process. More recent research acknowledges that despite the differences between B2C and B2B contexts both B2C and B2B brands need to engender trust and develop both cognitive and affective ties with stakeholders. THE BENEFITS OF BRANDING IN INDUSTRIAL MARKETS Branding in an industrial market must be perceived to convey benefits to various stakeholders for companies to financially invest in it. With regard to the company investing in branding a number of benefits have been identified...
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...Dartmouth College 100 Tuck Hall Hanover, NH 03755-9011 Ph: 603-646-0393 (o) 603-646-1308 (f) Email: KARMA COLA - COKE IN INDIA ABSTRACT This article is an application of the customer-based brand equity (CBBE) model (Keller, 2001) to Coke in the United States and India, It shows that Coke, the brand, is interpreted differently in US and India. In US, Coke's awareness stretches beyond its immediate consumers. It is usedfunctionally as a substitute for water. Its home consumption is high. It is seen as a brand with heritage ami many customers and non-customers relate to it Hence there is greater bonding between the brand and the customer. In India, by contrast Coke's knowledge and appeal is limited to the urban elite and youth. It is consumed more for aspirational than functional reasons. Home consumption is not as high as it is in the United States, It is a brand to which a limited number of people relate. Loyalty is more to the cola flavor them Coke. In short, Coke is viewed very differently in India as compared to tin United States. This paper examines the differences in perceptions in the two countries and discusses their implications for Coke in India. The implications to Indian market are important because China and India are seen as the most promising marketsfor its future. The CBBE model consists of 6 building blocks and 4 levels as shown in Figure 1 (page 9). The four levels are Identity, Meaning, Response and Relationships. The...
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...Chapter 2 Customer-Based Brand Equity Overview This chapter defines the concept that is the focus of the book. Customer-based brand equity (CBBE) is the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand knowledge is a function of awareness, which relates to consumers’ ability to recognize or recall the brand, and image, which consists of consumers’ perceptions of and associations for the brand. Building awareness requires repeatedly exposing consumers to the brand as well as linking the brand in consumer memory to its product category and to purchase, usage and consumption situations. Creating a positive brand image requires establishing strong, favorable and unique associations for the brand. The chapter outlines the important contribution of brand knowledge to brand equity. Brand knowledge is composed of brand awareness, which is itself a function of recognition and recall, and brand image, which reflects the associations consumers hold for the brand in memory. Brand awareness is important because 1) it is a necessary condition for inclusion in the set of brands being considered for purchase, 2) in low-involvement decision settings it can be a sufficient condition for choice, and 3) it influences the nature and strength of associations that comprise the brand image. Awareness can be heightened by increasing consumer exposure to the brand and by linking the brand to product category, consumption and usage...
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...touch-screens. There are many reasons a consumer would favour iPhone over other smart phones, whether the reason lies in its sleek, metallic design or the entertainment kicks the consumer obtains out of using it, it is crucial that Apple looks in greater depth at more sophisticated business tools in order to cater professionals like surgeons, businessmen and engineers. Iphone’s attractive brand image can be single-handedly gunned down by other strong factors, like the mentioned business element for instance, should Apple not expand its utilisation potency. Brand audit has been performed by using Keller’s CBBE Framework. In order to understand the iphone’s degree of competitiveness in the market, it is essential to conduct a SWOT analysis so that it becomes clearer to which side weighs more: the pros or the cons. The audit offers recommendations to the sort of improvements that will help establish iPhone’s brand positioning, brand management and marketing value. Keller’s model is not the only model that can be adapted to measure brand equity. Its limitations are discussed and other brand equity models are explained briefly. INTRODUCTION The mobile phone industry is progressing fast in today’s modern society. Not only does the mobile phone enrich everyday aspects of our lives, it helps us stay in touch with our loved ones. The global recession has become a nightmare for the mobile phone industry. Despite this setback, smart phone manufacturers are still seeing growth in terms...
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...MKT-429: Chapter 2 CUSTOMER-BASED BRAND EQUITY Customer-based brand equity: Past experience-Marketing Activity- Word of Mouth The CBBE is formally defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. The Power of a brand lies in what resides in the mind of customers. ▪ Differential effect-How customer react about the name ▪ Brand knowledge-Consumer has learned, felt, seen and heard ▪ Consumer response to marketing-Recall, actions in sales promotion, evaluation of extensions Marketing advantages of strong brands (Figure 2.1) ▪ Greater loyalty ▪ Less vulnerability to competitive marketing actions ▪ Improved perceptions of product performance ▪ Less vulnerability to marketing crises ▪ Larger margins ▪ More inelastic consumer response to price increases ▪ More elastic consumer response to price decreases ▪ Greater trade cooperation and support ▪ Increased marketing communication effectiveness ▪ Possible licensing opportunities ▪ Additional brand extension opportunities Brand equity as a bridge: a) Brands as a reflection of the past: b) Brands as direction for the future: FIGURE 2-2 MAKING A BRAND STRONG: BRAND KNOWLEDGE Associative network memory model: The associative network memory model views memory as consisting of a network of nodes and connecting links ❑ Nodes represent stored information or concepts ❑ Links...
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...CBBE Model The main rationale of 理由 Keller’s Consumer Based Brand Equity Model is relatively straightforward. If you want to build your brand, you need to develop your brand, based on understanding how customers feel about your brand. Further, brand managers must develop and communicate about the brand ‘experiences’ so that people have positive feelings about the brand, a favourable opinion of the brand, and their perceptions of the brand are positive. If we can achieve this, we can build loyalty from customers – which is a key aim of most organisations (it is approximately約5 times more expensive to acquire獲得new customers than to keep existing ones). Figure 1: Keller's Brand Equity Model As we saw in lecture (on slide 4 from Lecture 2), there are areas of significance to customers - questions that they will ask of the brand (often subconsciously潛意識) - shown in Figure 1 above. Applying the Model Stage 1: Brand Identity – Who Are You? Aim is to create awareness. Brand salience is when your brand is the one that springs彈性 to the mind of consumers, and that is ultimately最終what every brand would aim to achieve. If I were to ask you: name me a brand of car/computer/cellphone/noodle/coffee – the one that comes to your mind first is the one with highest levels of salience. Some markets are highly competitive and it will be harder to perhaps have your brand ‘stand out’. 脫穎而出 How to Achieve? It is essential必要to ‘know who your customers are’. And to achieve this, research...
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...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 Published by: http://www.sagepublications.com On behalf of: The Center for Hospitality Research of Cornell University Additional services and information for Cornell Hotel and Restaurant Administration Quarterly can be found at: Email Alerts: http://cqx.sagepub.com/cgi/alerts Subscriptions: http://cqx.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Downloaded from http://cqx.sagepub.com at SAGE Publications on December 2, 2009 © 2004 CORNELL UNIVERSITY DOI: 10.1177/0010880404264507 Volume 45, Issue 2 115-131 ARTICLE 10.1177/0010880404264507 Measuring Customerbased Restaurant Brand Equity Investigating the Relationship between Brand Equity and Firms’ Performance by WOO GON KIM and HONG-BUMM KIM Strong brand equity is significantly correlated with revenues for quick-service restaurants. In a study 394 respondents gauged the strength of seven quickservice restaurant brands doing business in Seoul, Korea. The study tested four elements of brand equity, namely, brand awareness, brand image, brand loyalty, and perceived quality. Of those attributes, brand awareness had the strongest direct...
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