Brand Equity Marketing
DESCRIPTION
The marketing and financial value that is built up and associated with a brand.
The marketing and financial value that is built up and associated with a brand.
KEY INSIGHTS
The concept of brand equity captures the notion that marketing actions can lead to brands possessing equity in the sense that they become valuable strategic assets of a firm. Positive brand equity enables the firm to expect future revenues that are higher than that for an identical non-branded product as a result of the brand’s positive influence on consumer purchase behavior. For example, a brand’s association with perceived high quality can lead to trust and confidence in the firm’s branded products that can increase product purchase likelihood among consumers.
The concept of brand equity captures the notion that marketing actions can lead to brands possessing equity in the sense that they become valuable strategic assets of a firm. Positive brand equity enables the firm to expect future revenues that are higher than that for an identical non-branded product as a result of the brand’s positive influence on consumer purchase behavior. For example, a brand’s association with perceived high quality can lead to trust and confidence in the firm’s branded products that can increase product purchase likelihood among consumers.
KEYWORDS Brand value
IMPLICATIONS
Marketers should seek to understand and regularly monitor the level and nature of brand equity for each of their brands to determine and ensure their brands’ strategic significance to the firm. The dynamic nature of many markets is such that brand equity will decline if not actively managed through coordinated marketing actions involving efforts to maintain or strengthen brand recognition and specific, positive brand associations.
Marketers should seek to understand and regularly monitor the level and nature of brand equity for each of their brands to determine and ensure their brands’ strategic significance to the firm. The dynamic nature of many markets is such that brand equity will decline if not actively managed through coordinated marketing actions involving efforts to maintain or strengthen brand recognition and specific, positive brand associations.
APPLICATION AREAS AND FURTHER READINGS
Marketing Strategy
Keller, Kevin Lane (1993). ‘Conceptualizing, Measuring, and Managing Customer- Based Brand Equity,’ Journal of Marketing, 57(1), January, 1–22.
Keller, Kevin Lane (1993). ‘Conceptualizing, Measuring, and Managing Customer- Based Brand Equity,’ Journal of Marketing, 57(1), January, 1–22.
Marketing Management
Aaker, David A. (1991). Managing Brand Equity: Capitalizing on the Value of a Brand Name. New York: The Free Press.
Aaker, David A. (1991). Managing Brand Equity: Capitalizing on the Value of a Brand Name. New York: The Free Press.
Marketing Research
Krishnan, H. S. (1996). ‘Characteristics of Memory Associations: A Consumer- Based Brand Equity Perspective,’ International Journal of Research in Marketing, 3(4), October, 389–405.
Krishnan, H. S. (1996). ‘Characteristics of Memory Associations: A Consumer- Based Brand Equity Perspective,’ International Journal of Research in Marketing, 3(4), October, 389–405.
BIBLIOGRAPHY
Aaker, David A. (1996). Building Strong Brands. New York: The Free Press.
Aaker, David A. (1996). Building Strong Brands. New York: The Free Press.