A Study of Building and Measuring Brand Equity in Hospitality Industry

Berry, L. L. (2000). Cultivating service brand equity. Journal of the Academy of Marketing Science, 28(1), 128-137. Retrieved from http://link.springer.com/article/10.1177/0092070300281012

For instance, in the hospitality industry, the Hilton brand symbolises high-end properties, elevated quality of service and a unique guest experience. Brand name and brand image are essentially two factors that differentiate companies which operate in the same industry and market. Therefore, the brand name must be unique. Hotel companies like the Hilton have established strong national brands and seek to use them globally with an intention of increasing profits. Once its established as a global brand, the company has successfully created an international image that can lead to increased efficiency through branded marketing efforts and cost savings on a much larger scale. Nowadays with an increase in international travel, the competition among international hotel corporations is becoming a lot more competetive. Those tourists that travel to foreign countries tend to stay in one of the known hotel brands and their standardised quality of service. Hotel chains are motivated to maintain a high rate of global expansion as a key marketing strategy of creating brand loyalty (King,

Brand equity is a business having the clout and power of its product(s) to leverage that equity or clout for its need to raise capital or increase customers. Developing brand equity is important because it allows companies to interact with their customers in order to induce loyalty which increases the growth of a company. Every company, established ones as well as start-ups have the ability to create brand equity. It is especially important for start-ups because in the first step of business, they would want to ensure that

Brand equity is a consumer-based concept (Elliot 2017) and strategic asset of a company that encompasses the idea of the added value a brand contributes to a product. Influenced by consumer choices, it is the characteristic of a brand that indicates high levels of performance and determines the success of companies.

One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes

Brand equity is defined as the name, sign, term, symbol or design of what makes the goods or services different from those competitors and for seller groups. Although, the meaning indicates that it is the added value that has been brought with product or service; reflecting the consumers’ response: satisfaction, expectations, etc.

The value given to the brand by the consumer is the brand’s equity. The brand obtains its

Brand awareness is a fundamental attribute of customer brand equity. It tends to be an underestimated component of brand equity (Tong & Hawley, 2009). Brand awareness includes two elements which are brand recall and brand recognition. According to Aaker (1996) there is a positive relationship between trust, value and brand equity. Trust is the faith put into a brand with regard to its quality, consistency, etc. Value is created by providing a solution to consumers’ needs and wants in a way that the cost to the consumer is fair considering the benefits gained (Aaker,

The brand loyalty of the customer base is often the core of a brand's equity. If customers are indifferent to the brand and, in fact, buy with respect to features, price, and convenience with little concern to the brand name, there is likely little equity. If, on the other hand, they continue to purchase the brand even in the face of competitors

2012), such as Hilton, Marriot, InterContinental for a hotel company. Many hotel and restaurant chains seek to create and fulfill the expectations of specific groups of customers (Tepeci, M. 1999). They want to leave their mark on a given field (e.g. McDonalds, KFC, and Burger King for the quick service restaurants) and set their imprints on a product or service. Brand stability into the business; help to prevent competitive imitation, so consumers to be assured in an increasingly complicated world (Ake, 1991). Once the customer has decided to determine a brand and its association, they tend to be loyal to the brand, continue to buy it in the future and recommend it to friends, and select the product than the others, even those with better features and lower prices (Assael, 1991). Brand is a natural barrier to new competitors, because the brand reduces the risk of purchasing a product or consumer-related services. Therefore, they support and sustain a premium, because of the long-term brand loyalty and increase Consumption Tendency of income. (Ehrenberg et al.,

Brand Equity is the added value endowed by the brand to the Product. Although the idea of using a name or a symbol to enhance a product’s value has been known to marketers for a long time, brand equity has gained renewed interest in recent years. Three key drivers of brand equity are

Brand Equity is the added value given to products and services – reflecting how consumers think, feel and act towards a brand (Kotler et al 2009). Red Bull sells “cool” as added value to their hyped-up liquid. They sell a life

The purpose of this study is to discuss and elaborate the main issues encountered in managing brand equity. In order to achieve this purpose, we first analyse the concept of brand equity; second, we provide a comprehensive framework for managing brand equity; and finally, we distinguish different ways to leverage and measure brand equity. The concept of brand equity emerged in the early 1990s. Brand equity can be regarded as a managerial concept, as a financial intangible asset, as a relationship concept or as a customer-based concept from the perspective of the individual consumer. The main asset dimensions of brand

Brand equity is important to create and maintain as it is an intangible asset of added value as well as goodwill that will then result from the favourable image, impressions of differentiation and the strength of consumer attachment to brand name, company name or trademark. The stronger the equity the better it positions the company as well as its brand which is only often reinforced through advertising or even sponsoring. For example, Breville appliances command good quality kitchen appliances and represents higher price than the other brands as it is being used by the contestants of My Kitchen Rules. In other words, it is the

In this paper, we conceptualize brand equity in accordance with Aaker (1991) and Keller (1993), using a consumer (or marketing) perspective (as opposed to a financial one). Brand equity is therefore referred to as consumer-based brand equity and defined as “the value consumers associate with a brand, as reflected in the dimensions of brand awareness, brand associations, perceived quality and brand loyalty”. This definition was adapted from Aaker (1991, p. 15). Aaker defined brand equity as a set of assets (or liabilities), and found brand awareness, brand associations, perceived quality and brand loyalty to be its four most important dimensions from a consumer perspective. Some empirical evidence supports the notion that these four are distinct dimensions of consumer-based brand equity. As per Aaker, we define brand awareness as “the ability of a potential