Marketing Analysis : Brand Equity

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.

The introduction stage is when a new product is made and it is lunched into its new market. Some problems that people face in this stage is people don’t know what the product is or they don’t know what it does. So most of the money in this stage is spent on explaining to people what they product does. In the growth stage the market is starting to like and accept the product and sales start to grow. Problems that people run into hear is the sceptics people who don’t believe in the product or don’t see a need for it. So to solve the problem is showing and convincing these people of the need and why it will help them and make their life easier. The maturity stage is when people know of the product and what it does. In this stage this is when sales will reach its peak. Some problems in this stage is up and coming products that are similar to yours and could do more then your product and offers more of a need. So to solve that problem innovate your product. Don’t get complacent at where you are with the product keep evolving the product and keep making better and more appeling. Then there is the decline stage. In this stage the product had become old something better has been created or come a long. This is when sales start to fall. To solve this problem is creating a new product or make server changes to the existing product that makes it better then the

Every organization main goal is create brand equity which is value that is added value endowed by the brand to the product. The end goal is to create brand loyalty with customers. Brand loyalty provides a host of benefits including:

Third, the effects of the product life cycle, which is “Four distinct but not wholly-predictable stages every product goes through from its introduction to withdrawal from the market: (1) introduction, (2) growth in sales revenue, (3) maturity, during which sales revenue

Kotler and Keller (2012, pp. 271-272) maintain that there are three main sets of brand equity drivers:

The Product Life Cycle theory was developed by the economist Raymond Vernon in 1966 and this theory is a widely used model in economics and marketing. According to Raymond Vernon, a product has a certain life cycle. It begins with its research and development stage and ends with its decline stage. The product life cycle consists of four stages which are introduction, growth, maturity and decline stages. Millions of products are produced and consumed every year around the globe and these products have a life cycle. Existing or long-established products will become less popular and also the demand for new, innovative products will increase rapidly after they are launched.

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 a set of assets related to a brand’s name and symbol that adds to the value provided by a product or service to a corporation and that corporation’s clients. The major asset categories are: brand name awareness, brand loyalty, perceived quality and brand associations (Aaker, 2010:8). According

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.

ANSWERS TO TEN COMMON BRANDING QUESTIONS One of the most popular and potentially important marketing topics to arise in the 1980 's was the concept of brand equity. The emergence of brand equity, however, has meant both "good news" and "bad news." The good news is that it has raised the importance of the brand in marketing strategy -- which heretofore had been relatively neglected -- and provided impetus for managerial interest and academic research activity. The bad news is that the concept has been defined a number of different ways for a number of different purposes,

According to Aaker (1991), “brand equity is the set of brand assets and liabilities that is linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firms customers”. Some academics have given the components of brand equity. It consists of “perceived quality, brand associations, brand awareness and brand loyalty “(Aaker, 1991; Baldauf et al., 2003; Keller, 1993; Selase Asamoah, 2014), and this is the first version of components of it; regarding it as the “consumer 's behavior” toward a make, Keller (1993) proposes two elements: “brand awareness and brand knowledge”; Kim et al.(2008) argue that strong brand equity boosts “consumer satisfaction, repurchasing intent, and degree of loyalty”. Thus, past

According to Keller (1993), consumer based brand equity strictly understood from a consumer psychology perspective and he defined it as the distinguishing effect of brand knowledge on response of consumer to the marketing of the given brand. By this theoretical approach, brand has a positive or negative value if the consumer reacts more or less favourably to the product’s marketing mix of which he/she knows the brand name than to the marketing mix of an almost same but unbranded product. Consumer response to the brand’s marketing mix can be translated at various stages of the purchase decision making gradual chain such as preferences, intention of choice and actual choice. Keller (1993) states that, brand knowledge is a key point in consumer based brand equity and is conceptualized as a brand node in memory to which different associations have been linked. Brand knowledge is then divided into two separate constructs: brand awareness and brand

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

In other words brand equity can be said to be any asset or liability connected to a brand name that adds or subtract a value to the product.