Customer Perception Based Brand Equity Analysis of Dinshaw's Ice-Cream

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

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

Finally, Shamma (2011) claims that total brand equity consists of product and corporate brand equity which depends on company’s market, social and financial performance. Furthermore, there is a positive relationship between company’s corporate brand and socially responsible marketing and total brand equity (Shamma, 2011). Similarly, Grace and King (2011) talks about employee brand equity, which is the result of positive and productive employee brand-related behaviour and is strongly linked with brand’s strength (Grace and King, 2011). In contrast, Kay (2004) argues that corporate branding differs from product and service branding as it is aimed at different target audiences. For instance, corporate branding usually targets company’s shareholders and employees whereas product and service branding is focused on consumers who are not really interested in corporate brand identity (Kay, 2004). However, it is also claimed that some companies, especially those that started as niche businesses that appealed to small segments of socially conscious customers succeeded in creating strong and distinctive corporate brands. Referring to CC and Jim Beam corporation consumers are not that concerned about company’s overall image, however introduction of corporate social responsibility and socially

It has been acknowledge (Romaniuk & Sharp 2004) that Brand salience can be defined as the propensity of the brand to be thought of by buyers when they are in a buying situations. A brand awareness strategy depends on how well known the brand is, Brand Salience is forming image to refresh their memory about the brands that can linked to consumer mind as well as the quantity and quality of the cue to brand links (Olson & Peter 2005), it is very important that consumer can connect to their mind as many cues as possible . The level of consumers’ brand awareness necessary to induce purchase varies depending on how and where they make their purchase decision for that product category or form. The brand attitude is focus on evaluating the brand, according to Schiffman and Kanuk (2007) “attitudes are relevant to purchase behavior are formed as a result of direct experience with the product, word-of-mouth information acquired from others, or exposure to mass-media advertising, the internet, and various forms of direct marketing”

According to the American Marketing Association (AMA), 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”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

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 awareness means the salience of the brand in the customer’s mind which includes: recognition, recall, top-of-mind (Keller, 1993, Aaker, 1996) brand dominance, brand opinion, brand knowledge (Aaker, 1995). Recognition works effectively for a completely new or unknown brand whereas recall and top-of-mind are effective for well-known brands (Aaker, 1996). Keller, 1993 found that advertising enables brand recall which brings marketing and advertising success whereas Ehrenberg et al, 2002 opined advertising maintains brand salience to provide a competitive edge to the brand and stimulate brand awareness. Potential buyer gain brand awareness from advertisements which drive consumer for ultimate purchase (Ehrenberg and Barnard, 1997, Abideen and Saleem,

It is also the degree to which consumers associate the brand with the specific product and includes both the brand recognition as well as brand recall. When consumers are able to recognize prior knowledge of brand when they are asked questions about that brand and clearly differentiate the brand from similar products in the marketplace, it is considered a stable brand. However, it is also important that the customer is able to recall a brand from his/her memory when the product category is mentioned. To create brand awareness, it is crucial for businesses to first, create a reliable brand image with a consistent brand

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.

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

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

A company (in this case, a coffee shop) needs to establish a clear and consistent brand identity by communicating its brand attributes in a way that can be easily understood by prospective customers. One of the firm’s most valuable assets for improving marketing productivity is the customers’pre-existing knowledge of the brand from the firm’s investment in previous marketing programs (Keller, 1993). According to Keller (1993), the differential effect of brand knowledge upon customers’ response to brand marketing is known as brand equity. Brand equity is related to customer satisfaction and brand loyalty (Nam, Ekinci, and Whyatt, 2011). Customer satisfaction is a mediating variable between brand equity and brand loyalty, while brand loyalty itself is the biased (non-random) behavioral response (purchase) expressed over time by some decision-making unit with respect to one or more particular brands out of a set of brands and is a function of psychological processes (Jacoby, 1971). Considering the importance of brand equity in companies’ efforts to develop positive customer perception and win the tight competition in their industry by achieving customer satisfaction and loyalty, this study aims to investigate

The CBBE model approaches brand equity from the perspective of the customer – whether customer is an individual or an organization. The CBBE model provides a unique point of view as to what brand equity is and how it should best be built, measured and managed. The power of a brand lies in what customers have learned, felt, seen and heard about the brand as a result of their experiences over time. The big challenge for marketers is to ensure that customers have the right type of experiences with their products and services. In order to do this, marketers must develop marketing programs in way that best fit into customers’ mind and linked the brand to the desire customers’ feelings,

Brand equity is the positive effect of knowing a brand name on people’s mind. We can also explain it as the willingness of customers to pay more for a chosen brand. Basic element of brand equity is trust. The more customers trust your brand, the more money they would like to pay. Burger King is one of the companies that have high brand equity as they have always been careful about quality of their products and health care. Moreover, Burger King is growing its brand equity by strong customer relationships and customer satisfactions.