A Study of Building and Measuring Brand Equity in Hospitality Industry

1964 WordsJul 6, 20128 Pages
Honours Dissertation – MKT10932 Dissertation Outline Student Name : | Huen Ho Ki | Matriculation Number : | 40073098 | Title: | A study of building and measuring brand equity in hospitality industry | Comments: | | Mark( /25) | Marked by : | Date : | Background to the Study and Overall Research Aim: If growing brand equity is the key to future business success, it makes sense that one should have a way to quantify and measure such equity. (Keller, 1997, pp.372-379) For hospitality industry, brand equity is an important intangible asset to hotel that has psychological and financial value. It is the added value or goodwill endowed to products and service. Marketer can thought this study as investments in…show more content…
A brand is more than a physical good. The brand is a company’s key strategic asset (Kapferer, 1997). Brand is something that resides in the consumers’ minds which helps consumers to differentiate the products of one creator from the others. As such the brand becomes a symbol that connects the company or its products with the customers in a relationship and represents the entire “product personality” (Leuthesser, 1988, p.2; Keller, 1991, p.4; Rajendra K. Srivastava and Allan Shocker, 1991, p.5; Aaker, 1996, p.7,35). In order to build brand equity, hotel marketers have to make a brand promise to their target customers such as comfortable on the lodging. Keller (1993) believes that brand equity is formed by brand knowledge of customers. He base on customer defined “brand knowledge” concept. It is subdivided into brand awareness and brand image. It is called “The Brand Equity Model” (Keller, 1993). Customer-based brand equity (CBBE) comes near brand equity from the perspective of the consumer. The CBBE model is defined as the differential effect of brand knowledge on consumer response to the marketing of the brand (Keller, 2003). When a brand has positive brand equity, consumer will react more favorably to the marketing activity compare with an unnamed product. This model (Keller, 2003) let hotel marketers to comprehend what customers have learnt with respect to brand which is brand knowledge. Brand equity appears on consumer response. More or less is

More about A Study of Building and Measuring Brand Equity in Hospitality Industry

Open Document