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The value of a brand is acknowledged only when a consumer is happy and satisfied using it. Hence, recognition and praise enhance the brand value or brand equity of a product, and makes a product ‘a brand’. Therefore, brand equity becomes a precedence for any product to become a brand. This book delves onto the concepts and theories of Brand Equity, and how it forms an integral part of any product becoming a success. The book skillfully explains fundamental concepts of brand equity, and its importance in product/services marketing, in the Indian context. Divided into four parts, Part 1 of the book begins by explaining the meaning of branding and brand equity. Part 2 then focuses on various components of brand equity. Part 3 educates the readers/students on how to measure brand equity of a product or a brand. Part 4 concludes by elaborating on ways and means to enhance brand equity of any product. This book is designed for the postgraduate degree and PG Diploma students of management specializing in Marketing and brand management. The book will be equally useful for practising Product/Brand Managers.
Although many important branding principles apply, retailer brands are sufficiently different from product brands and hence the application of the branding principles can vary. Retailer brands are typically more multi-sensory in nature than product brands and can rely on rich consumer experiences to impact their equity. This article tries to study the different aspects of retailer brand creation through literature survey and tries to take it forward in developing a conceptual model for building Retailer Brand Equity. This article will also try to focus on important areas where there is a further scope of some research especially in the Indian perspective.
The most important assets of any business are intangible: its company name, brands, symbols, and slogans, and their underlying associations, perceived quality, name awareness, customer base, and proprietary resources such as patents, trademarks, and channel relationships. These assets, which comprise brand equity, are a primary source of competitive advantage and future earnings, contends David Aaker, a national authority on branding. Yet, research shows that managers cannot identify with confidence their brand associations, levels of consumer awareness, or degree of customer loyalty. Moreover in the last decade, managers desperate for short-term financial results have often unwittingly damaged their brands through price promotions and unwise brand extensions, causing irreversible deterioration of the value of the brand name. Although several companies, such as Canada Dry and Colgate-Palmolive, have recently created an equity management position to be guardian of the value of brand names, far too few managers, Aaker concludes, really understand the concept of brand equity and how it must be implemented. In a fascinating and insightful examination of the phenomenon of brand equity, Aaker provides a clear and well-defined structure of the relationship between a brand and its symbol and slogan, as well as each of the five underlying assets, which will clarify for managers exactly how brand equity does contribute value. The author opens each chapter with a historical analysis of either the success or failure of a particular company's attempt at building brand equity: the fascinating Ivory soap story; the transformation of Datsun to Nissan; the decline of Schlitz beer; the making of the Ford Taurus; and others. Finally, citing examples from many other companies, Aaker shows how to avoid the temptation to place short-term performance before the health of the brand and, instead, to manage brands strategically by creating, developing, and exploiting each of the five assets in turn
This book on Brand Management has all the facets of brand marketing explained in an extremely lucid and detailed manner. Each and every topic in contemporary brand management has been stressed with adequate exhibits and important data. The book also has a rich repository of case studies that gives a complete and practical understanding of the world of product, celebrity, destination brands and more.
Seminar paper from the year 2020 in the subject Business economics - Miscellaneous, grade: 1,0, University of Applied Sciences Trier, language: English, abstract: In a global world where countless functionally similar products are offered, there must be a suitable reference point by which the success of a company can be defined - the brand equity. The following work therefore aims to provide a comprehensive overview of brand equity and its creation, measurement and maintenance. 1989 California - This year saw the start of an eight-year experiment in the USA, in which an identical compact car was sold under two different brands: the Toyota Corolla and the Chevrolet Prizm. The Toyota Corolla was launched several years earlier and had already gained the trust of many consumers in terms of quality, thus benefiting from a positive brand equity. The Chevrolet Prizm, on the other hand, was a completely new name for consumers in the compact car class. Despite the same technical characteristics of both vehicles, the Prizm was consistently rated worse and the price of the car was also lower than the one of the Toyota Corolla. What does the experiment demonstrate?
For over two decades, it has been argued that the brand is an important value creator and should therefore be a top management priority. However, the definition of what a brand is remains elusive. This comprehensive textbook presents the reader with an exhaustive analysis of the scientific and paradigmatic approaches to the nature of brand as it has developed over the last twenty years. Taking a multi-disciplinary approach and offering an exhaustive analysis of brand research literature, it delivers a thorough understanding of the managerial implications of these different approaches to the management of the brand. Brand Mangement: Research, Theory and Practice fills a gap in the market, providing an understanding of how the nature of brand and the idea of the consumer differ in these approaches and offers in-depth insight into the opening question of almost every brand management course: "What is a brand?"