Research and theories associated with brand equity

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Research and theories associated with brand equity

RayPics A strong brand starts with the question: And if you had to make yours stronger, would you know how to do it? Many factors influence the strength of a particular product or brand.

If you understand these factors, you can think about how to launch a new product effectively, or work out how to turn a struggling brand into a successful one.

This tool highlights four steps that you can follow to build and manage a brand that customers will support. Kevin Lane Keller, a marketing professor at the Tuck School of Business at Dartmouth College, developed the model and published it in his widely used textbook, " Strategic Brand Management.

You have to build the right type of experiences around your brand, so that customers have specific, positive thoughts, feelings, beliefs, opinions, and perceptions about it.

The model, seen in Figure 1, illustrates the four steps that you need to follow to build strong brand equity.

Research and theories associated with brand equity

The four steps of the pyramid represent four fundamental questions that your customers will ask — often subconsciously — about your brand.

The four steps contain six building blocks that must be in place for you to reach the top of the pyramid, and to develop a successful brand. Brand Identity — Who Are You? In this first step, your goal is to create "brand salience," or awareness — in other words, you need to make sure that your brand stands out, and that customers recognize it and are aware of it.

Application To begin, you first need to know who your customers are. Research your market to gain a thorough understanding of how your customers see your brand, and explore whether there are different market segments with different needs and different relationships with your brand.

What decision-making processes do your customers go through when they choose your product? How are they classifying your product or brand? And, when you follow their decision making process, how well does your brand stand out at key stages of this process?

By the end of this step, you should understand whether your clients perceive your brand as you want them to, or whether there are specific perceptual problems that you need to address — either by adjusting your product or service, or by adjusting the way that you communicate your message.

Identify the actions that you need to take as a result. Brand Meaning — What Are You? Your goal in step two is to identify and communicate what your brand means, and what it stands for. The two building blocks in this step are: According to the model, performance consists of five categories: Patagonia makes high quality outdoor clothing and equipment, much of which is made from recycled materials.

Your product must meet, and, ideally, exceed their expectations if you want to build loyalty. Next, think carefully about the type of experience that you want your customers to have with your product.

Take both performance and imagery into account, and create a "brand personality. Your customers constantly make judgments about your brand and these fall into four key categories: Customers judge a product or brand based on its actual and perceived quality.

Customers judge credibility using three dimensions — expertise which includes innovationtrustworthiness, and likability. Customers judge how relevant your product is to their unique needs. Customers also respond to your brand according to how it makes them feel. Your brand can evoke feelings directly, but they also respond emotionally to how a brand makes them feel about themselves.

According to the model, there are six positive brand feelings: Application First, examine the four categories of judgments listed above.Programme Agenda. The 1 day event is a balanced mix of informative and inspiring subject-specific panel discussions, open conversations & interactive sessions in the presence of Government officials, National & International eminent speakers & delegates.

Research your market to gain a thorough understanding of how your customers see your brand, Your customers feel a sense of community with people associated with the brand, including other consumers and company representatives. Keller's Brand Equity model is also known as the Customer-Based Brand Equity (CBBE) Model.

Brand awareness is the first step in creating brand equity. Awareness equates to online traffic and having prospective buyers show up at your stores.

Building a brand is a process: What begins with brand awareness becomes brand associations and, if those associations are consistently positive, brand . This resource, created by the National Agricultural Library, provides comprehensive access to U.S.

agricultural and life science information, including journal articles, books chapters, monographs, theses, patents, and technical reports. This chapter reviews bing research and theories associated with trade name equity.

First, to be better understand the function of trade name equity, it start from nowadayss the construct of trade name ; secondly, the construct of trade name equity and the importance are described ; 3rd, different trade name equity measuring attacks are explained, eventually, emerging literature of trade name.

Learning theories are conceptual frameworks that describe how students absorb, process, and retain knowledge during learning. Cognitive, emotional, and environmental influences, as well as prior experience, all play a part in how understanding, or a world view, is acquired or changed and knowledge and skills retained.

Keller's Brand Equity Model - Strategy Tools From alphabetnyc.com