Title: Brand Equity Literature Review Example: A Comprehensive Guide

Welcome to our comprehensive guide on brand equity literature review examples. Writing a literature
review on brand equity can be a daunting task due to the vast amount of research available on the
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Understanding brand equity is essential for marketers, business owners, and scholars alike. It
encompasses the perceptions, associations, and overall value that consumers attribute to a brand.
Analyzing existing literature allows researchers to explore various dimensions of brand equity,
including its components, measurement methodologies, and implications for marketing strategy.

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This covers all monetary and value metrics of your brand. They also established that brand
experience has a direct and indirect influence on brand loyalty and consumer satisfaction. This
metric is all about the overall value of your brand in both qualitative and quantitative measures.
Finally, marketers should employ tracking studies to measure consumer knowledge struc- tures over
time to detect any changes in the different dimensions of brand knowledge and to suggest how these
changes might be related to the effectiveness of different marketing actions. If the schema of the
core product is high in the hierarchy, i.e., associated with values and lifestyle, one could extend it to
completely dissimilar products. The twelve brand elements are not entirely mutually exclusive, but
they clearly represent a categorisation of the most important elements of brands in the marketing
literature. Brand associations differ according to how favourably they are evaluated. Page 22. The
fundamental and upper part of the brand pyramid is the brand core, which remains fairly fixed over
time. Their objective was to develop a multidimensional measure of consumer-based brand equity
that is reliable, valid, parsimonious, and generalizable cross-culturally. Dorsch, 2007, Comparing the
Application of Integrated Marketing Communication (IMC) In Magazines Ads across Product Type
and Time. The store brand intercepts were calibrated to zero and hence the brand intercept scores for
the brands were relative to a store (surrogate indicator for unbranded product). Rubinson Joel (2005),
Learn to Live the Brand Strategy to Build Better Brands: A Framework for Growth, 2005, Market
Research, American Marketing Association. The advantage of conceptualising brand equity from the
consumer’s perspective is that it enables managers to consider specifically how their marketing
program improves the value of their brands. Manufacturer brands usually contain the name of the
manufacturer. The collaborative project is intended to develop a modular model which. Your order
will be completed by a writing expert who is ready to evidence originality with reliable plagiarism-
checking results. Third, they enable the brand team to develop consistency in the message being
transmitted through packaging and design, advertising, below-the-line activities and through
potential brand extensions. The authenticity was replaced by commercialisation, which did not go
well with the brand’s supporters. For example, brand equity has been estimated as the incremental
cash flows that accrue to the firm due to its investment in brands. Brand equity is measured as the
implied value or utility assigned by the consumer to the brand which they calculate by removing the
effects of short-term advertising effects and price promotions. Given increasing market deregulation
and the associated trend toward. Firms are not the only recipients of brand value,the main recipients
of brand value are its consumers. CBBE is defined as the differential effect of brand knowledge on
the consumer’s response to the marketing mix of the brand (Keller 1993). According to the
definitions of brand equity, no single number of concepts captures brand equity. The purpose of this
study was to discuss and elaborate the main issues encountered in managing brand equity. Good
perception is built upon the way you present your brand in front of your clients. These outward
facets are communicated explicitly and they are visible and material. Moreover, category extensions
elim- inate the high costs of establishing a new brand and often reduce the costs of gaining distribu-
tion. Crimmins (2000) definition and measurement approach of brand equity concurs with that of
Axelrod (1992). The concept of consumer-based brand equity has become a central marketing
concept due to the increasing scientific and business interest in brands, since the approach according
to which brands constitute one of the most valuable intangible assets of the companies is becoming
increasingly widespread.
This imperfect and asymmetrical information exposure produces uncertainty (and thereby higher
perceived risk) in consumers’ minds. The next step is to record the market positioning parameter by
inquiring. A line extension is when a current brand name is used to enter new market segment in the
existing product class. Similarly, a brand may be asso- ciated with its ”country of origin” in such a
way that consumers infer specific beliefs and eval- uations. For example, the brand strengths
(associations) can be leveraged by extending the brand to other products wherein these associations
will add value. The third element in building a strong brand is to have a consistent brand image.
Further, there are brands for which buyers have a fairly high degree of brand aware- ness as
measured either by brand recall or recognition. The typical history of a brand is that it starts narrowly
with a complete overlap with the product. Stage 1: Measurement of the determinants of brand equity.
T U O M I N E N Fourth, brand equity can provide a platform for growth by brand extensions. On
the other hand, if the brand has a bad reputation — or suffers a dip in trust or favor — then this can
damage brand equity. This level is characterized by a simple implicit statement of a product
specification, such as Player’s is a favourite among the young. And so on. The advantage of is the
method is its ability to measure individual components of brand equity and hence will help managers
identify problems that result in lower levels of equity. DOYLE, PETER (1998) Marketing
Management and Strategy. Even though there is ample research in these areas, almost all the research
is in the developed world and most of it is also in the western world context. These functions
include brand as 1) a sign of ownership; 2) a differentiating device; 3) a communicator of functional
capability; 4) a device which enables buyers to express some- thing about themselves; 5) a risk
reducing device; 6) a shorthand communication device; 7) a legal device and 8) a strategic device.
Social Media Graphics Create scroll-stopping content. Brand knowledge can be established by
surveying brand awareness, both. Nike is one of the brands that not only offer functional products
for sports and athletic activities, it also has a large client base of collectors. Brand knowl- edge can
be conceptualised as consisting of a brand node in memory with a variety of brand associations.
Brand Love Ahuvia (2005) was the first to study the love that consumers have for their brands.
Asso- ciations of a typical brand user may be based on, e.g., demographic factors or psychographic
factors. Providing, Communicating and Delivering Value.Prentice Hall: London. The price premium
due to brand equity provides the additional price the firm is able to charge currently for the brand,
while holding the market share fixed. It is important to consider how resulting changes in brand
awareness may help or hurt subsequent marketing decisions. A link between product class and brand
is involved. A relationship develops between the personality of the brand and the personality of the
consumer with each purchase. Integrated marketing communications can be stated as a major tool for
driving customer It is often regarded as brand messaging application that communicates standard
messages across non-traditional as well as traditional media. Through Idiographic analysis, Fournier
(1998) then tried to link the respondents’ identity issues with their brand relationships. In most
CBBE research studies and conceptualization models, there are some dimensions that are
omnipresent: these are brand awareness and brand associations.
Two types of extensions can be distinguished: a line and a category exten- Page 27. Branding
profitable sustainable brands corporate style design 3 powerpoint pp. SlideTeam.net Branding
profitable sustainable brands corporate design 3 powerpoint presenta. The first level of the model is
the “ground floor” for brands: proprietary. It is also difficult for competitors to communicate to
satisfied brand users because they have little moti- vation to learn about alternatives. Some other
industries that are labeled under this category include, gambling and pornography. Their TV
commercials about gender equality and inclusivity are always well received and tend to make an
impact internationally. Most of the indirect measurement approaches are based on the Aaker (1991)
and Keller (1993) conceptualization of CBBE. Typi- cal brands in a product category are more easily
extended to closely related target categories than to distant target categories. T U O M I N E N
member of a certain product category. It shows how likely a customer will switch to another brand,
especially when that brand undergoes a change, be it in price or in product features. T U O M I N E
N tional distinctions can be made within these types according to the qualitative nature of the
association. Bad reviews and complaints won’t positively impact your brand strength. Marketing
have set up a two-year research project at the university. Branding profitable sustainable brands
corporate style design 3 powerpoint pr. The first, a behavioural approach to brand loyalty, views
consistent purchasing of one brand over time as an indication of brand loyalty. The intangi- ble
elements refer to the beliefs and meanings created in the minds of consumers. But, such loyalty may
lack commitment to the brand and reflect repeat buying based on inertia. IMC practitioners develop
a single, consistent message that is then distributed through multiple communication channels, such
as advertising, public relations, direct marketing, and sales promotion to improve their market
awareness and access. The concept of brand equity emerged in the early 1990s. Strategy is necessary
for brands, especially those which are niche, or those facing large, entrenched, competition. Third,
they enable the brand team to develop consistency in the message being transmitted through
packaging and design, advertising, below-the-line activities and through potential brand extensions.
They used the 22 item scale developed by Vazquez et al. (2002) and concluded that the same scale
was not appropriate for Turkey and that consumers may arrive at different brand evaluations in
different cultures. Figure 2 shows how a brand equity strategy is developed. However they do not
distinguish between the various components of the non-attribute component and hence has limited
utility for practitioners in managing the brand’s equity. T U O M I N E N term view of the marketing
decisions to be taken; conducting tracking studies; and evaluating potential extension candidates.
(Keller 1993, 17) First, a marketer should adopt a broad view of marketing decisions. Whilst equity
can be an asset and add to the value provided by a product or service, it can also be a liability and
reduce the value provided. The PCI DSS standard protects quick and smooth transactions. The focus
of research on brand equity has been changing across different decades.Objectives: The objective of
this paper was to review the literature on brand equity published since 1990s to date with special
focus on various issues relevant to brand equity in different contexts. They go on to propound that
BRQ results in consumers attitude and behavior towards the brands they have a relationship with.
This increases the sustainability (inability to copy) of the brand equity.
The indirect approach is useful for identifying what aspects of the brand knowledge may potentially
cause the differential response that creates customer-based brand equity. Brand equity can create
advantages and benefits for the firm, the trade or the consumer. This means we'll keep fixing the
work until the supervisor approves it. Let’s say you’re playing with your child outdoors and they fall
over and scrape their knee. The third element in building a strong brand is to have a consistent brand
image. How well does the company know its customers and competitors. Generally, when a brand is
not able to get a recall, it is not included in the consideration set. The company prides itself on being
a sustainable business improving its carbon footprint over time. Real brand man- agement, however,
begins much earlier with a strategy and a consistent integrated vision. Their TV commercials about
gender equality and inclusivity are always well received and tend to make an impact internationally.
In addition, the perceived quality can be exploited by introducing brand extensions, using the brand
name to enter new product categories. In addition, a brand with a disadvantage in brand equity will
often have to invest more in promotional activity just to maintain its position in the distribution
channel. Page 24. Keep detailed records and data of the results to measure trends over time. Beyond
brand as a buzzword, what's branding all about. Loyalty implies a commitment to a brand that may
not be reflected by just measuring continuous behaviour. I was initially skeptical and doubtful that
the work could be done as requested. They collected data for 6 brands from 2 product categories
from non-student samples. Investment in a brand is in the minds of consumers increasingly occupy
center stage. Lassar et al. (1995) was the first to make measurement of brand equity a simple paper
and pencil affair, a marked improvement over previous complicated techniques. They're memorable
and impactful and they leave an impression on consumers. Cognitive psychology is a branch of
psychology that deals with the way information is acquired, processed and stored. The associations
that a well-established brand name provides can influence purchase behaviour and affect user
satisfaction. Financial institutions and market SYBMS Question Bank 2019. The authenticity was
replaced by commercialisation, which did not go well with the brand’s supporters. Those that aren’t
working should be fixed to not damage the overall brand equity. Use a launch roadmap template like
the one below to help you out. A link between product class and brand is involved. Luxton Sandra
(2005), The relationship between Integrated Marketing Communication, market orientation, and
brand orientation, Product management (Research), Marketing communications (Research),
Publication: Journal of Advertising. These extensions may also keep the brand name in the evoked
set of consumers. Examples of brand equity Brand equity should not be confused with brand
recognition.