Note on Measuring Brand Awareness, Brand Image, Brand Equity and Brand Value Pierre Chandon

The brand image is the brand's total personality impression in the consumer’s mind (real and imaginary qualities and shortcomings). It is developed through advertising campaigns over time with a consistent theme. Talbot and his team conducted social media research and there objective was to: -

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

Customer’s perception about the particular product is defined as a brand image. In recent days, building a strong brand has been proved to bring financial rewards to organization and becomes a top priority. It is regarded as hard core of any products and services, from small fruit juice shop to multinational organizations. The food manufacturing companies

Brand equity is an important asset for any organization. It is also an assets that offers an organization or a brand a road to success. Brand equity is important because its brand's product is closely associated with its premium price in the market. An organization or a brand with positive brand equity typically have higher quality products and services when compared to similar generic unbranded products. Furthermore, brand equity is important because it helps an organization or a brand to strengthen its competitive edge in the market. It is important to an organization or a brand, the reason are that it help lower the marketing costs and allows a brand to enjoy higher brand awareness and brand loyalty. Therefore, the ultimate goal of a brand

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.

Throughout the years there has been a rise on advertisement from being basic to extremely extravagant. Companies have been trying to keep up their brand reputation up for years. I wanted to find out why so many people worldwide are putting their trust in a product by just hearing the name brand name.

In order to maintain brand equity, a company must perform a brand audit, which addresses the strengths and the weaknesses of the brand. The brand audit is a brand evaluation that assesses the company’s health. The company must look at every aspect of the brand, from the customer experience, products, and marketing. Marketers must conduct surveys and tracking studies about the brand in order to collect data from the consumers. In addition, a consistent marketing support should be done to continually reinforce the brand.

Brand awareness is the most important indicator of the consumers’ knowledge about a brand. Brand awareness and customer loyalty go hand in hand. Loyalty of a customer is an emotional attachment to the brand. This attachment is driven by brand image and brand awareness. Brand awareness and brand image should develop an affection similar to a friendship. When buying a product for the first time, brand awareness is key. It is what gets the consumer to purchase that product. Measuring brand awareness is another key part in relating it to consumer buying behaviors. Three ways to measure brand awareness are spontaneous brand recall, top-of-mind recall, and aided recall. The ways that measure brand awareness are key in successfully marketing your product. Brand awareness is a starting point for all customer satisfaction.

In consumer behavior study, the construct brand personality has received a considerable amount of attention, defined in Aaker’s (1997) article as the “set of human characteristics associated with a brand”. This idea is well accepted by most proactitioners and marketing academics (Aaker, 1997; Carr, 1996; Duboff, 1986; Durgee, 1988; Kassarjian, 1971; Levy, 1959; Ogilvy, 1988; Plummer, 1985; Sirgy, 1982) for decades, and now has become an important topic of marketing research because of its implementation in consumer behavior theory: differentiating a brand in a product category (Plummer, 1984), enhancing consumers ' preference and loyalty to a brand (Fournier, 1998), and creating brand equity (Keller, 1993). It also has impacts on influencing brand recognition, brand beliefs such as perceived quality (Ramaseshan and Tsao, 2007), and brand associations (Freling and Forbes, 2005).

According to Aaker (1991), Kapferer (2004) and Keller (2003), “Building strong brands is one of the most important goals of product and brand management. Strong brands result in higher revenue streams, both short term and long term”. “Therefore, the stated goal of strategic brand management is to build brands that last for decades and can be leveraged in different product categories and markets” Aaker (1996). To understand how branding effects the purchasing decision of consumers, many theories emerged in which according to Aaker (1991) has framed a model called Brand equity model and Keller (1993) has identified a model called the customer based brand equity model. Both the frameworks have profoundly focused on how consumers recognize and appraise brands by studying certain information structures (Keller, 1993; Aaker, 1991, 1997).

Since the early time, the conception of brand has marked a turning point in business whether it regards as brand identity, brand equity, or brand loyalty (Hart and Murphy, 1998). The brand now

This essay is written based on knowledge of brand management. Building a successful brand cannot without people’s attention; generating awareness, communicating brand values and building customer loyalty, and these demands need to take a long time to achieve. Thus, it is an extremely challenging marketing task(Fahy, J. and Jobber, D. 2012). In the other words, if a company want to be successful, it have to build a successful brand equity and created its brand identity, and expand its brand in the market.

Customers usually develop associations and consider other factors such as the image or meaning of the brand during purchase (Keller, 2003), therefore it is important to create positive brand meaning via favourable brand associations, which is the second step of the model (Keller, 2003). Brand association is a widely accepted aspect of brand equity (Aaker, 2009) and includes all brand-related perceptions or attitudes that customers

Brand personality is defined as “the set of human characteristics associated with a brand” (Aaker, 1997, p. 347), and it can serve as a set of traits inferences used by consumers to trigger a specific pattern of attitudinal and behavior responses (Fournier, 1998). In her work, Aaker (1997) creates a scale to measure brand personality and extracted five dimensions, including sincerity, excitement, competence, sophistication, and ruggedness, and received empirical support from succeeding studies (i.e. Aaker, Benet-Martinez, & Garolera; 2001; Ekinci & Hosany, 2006; Lee & Back, 2010). In general, theses studies found that customers do perceive brands differently, and such differentiation enables customers to have a reference to make comparisons more easily. It also enables brands to create their own niche and identities to gain competitive advantages, such as emotional attachment to the brand that result in trust and loyalty (i.e. Fournier, 1998; Lee & Back, 2010). It was also suggested that trust and loyalty will