Customer-Based Brand Equity Model (Cbbe)

A brand is a portfolio of qualities associated with a name, which in turn invokes certain images to individuals and hold values beyond the benefits of a product (Iacobucci, 2018). Brand association occurs when customers make a cognitive or emotional association with a particular brand. For instance, when a customer sees a certain color, symbol, logo, or name they automatically can make a connection to a particular brand. Brands start with a name that conveys information, suggest their benefits, or can even be named after their founders (Iacobucci, 2018). In the marketing perspective marketers can control the brand which they are marketing by using catching logos, colors, slogans, or even the products shape and appearance. In marketing a marketer can control the message they are trying to convey but cannot really have control over an individual’s association with that particular brand. Once a customer has an association with a particular brand they may favor the brand based on a past experience or even that individual’s sense of style or they may dislike a brand because of an association they

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

The brand must be distinct and stand out in ways that relevance to consumers’ needs so as to be chosen by the consumers among thousands of brands in the market. However, before consumers respond to the brand’s communication efforts, the brand must be understood and understood correctly. That familiarity leads to a strong, positive consumer-brand connection.

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

Within the context of evaluating marketing opportunities, brand value relates to the intangible aspects of a company that act as a major source of competitive advantage and benefit for both consumers and sellers. For example, a strong brand value allows for a faster purchase decision process for consumers as information can be gathered quickly, and alternatives will often not be considered with equal weighting. Healy confirms this stating that “Good brands create shortcuts in product choice” (p. 136).

Many consumers swear their allegiance to brand names. Branding is the marketing tool many companies invest in to become an in-demand product or service on the market. According to Ogden & Ogden (2014) “The use of branding has become more important because customers relate to a brand on an emotional and personal level” (p. 305). Marketers understand the relationship between consumers and an emotional bond with their organization’s product. Marketers use the relationship to drive their brand to gain recognition and acceptance. Recognition and

The article is explained according to three important perspectives that is from the view point of the practitioner, the consumer and the scholar. A major point in branding is the brand image. In conclusion it explain how the brand is considered as the core of marketing and how everything evolves around the brand within the company.

Aaker (2002:68) defines brand identity as: “A unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from organization members.”

Building a successful brand is effective if brand value is generated. Through the relationship performance between the relevant stakeholders and the brand, brand value can be created. Jones (2005) suggests, that one should acknowledge two key points while accessing the stakeholders:

However, two questions often arise; What makes a brand strong and how do you build a strong brand. Keller developed the Customer-Based Brand Equity (CBBE) model on how to build a strong brand by following four steps (2001). It provides a unique perspective on what brand equity is and how a brand should be built, measured and managed. The four dimensions represent fundamental questions that customers invariably ask about brands and relate to brand identity, brand meaning, brand responses and brand

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

Creating and managing a brand is a fascinating process. A brand is not really a ‘thing’ in the conventional sense. This is an abstract concept that really is a collection of principles, values, images and products; but together this branding manages to completely define your business and the way you’re seen by the general public and your potential audience.

In Business-to-Business (B2B) environments, many firms focus their branding activities on the spreading of their brand name and logo without creating a more comprehensive brand identity. Thus, the creation of brand awareness is an important goal in many B2B branding strategies. (Homburg 2010)1

Brand Value Creation: Analysis of the Interbrand-Business Week Brand Value Rankings Author(s): Singfat Chu and Hean Tat Keh Source: Marketing Letters, Vol. 17, No. 4 (Dec., 2006), pp. 323-331 Published by: Springer Stable URL: http://www.jstor.org/stable/40216698 . Accessed: 04/04/2011 12:32

According to the Brand Resonance Model, we are at the second stage of Brand Development i.e. Developing brand meaning. The objective at this stage is to define Points of Parity and Points of difference which are identified as: