STRATEGIC MARKETING MANAGEMENT

RESOURCE PERSON: MISS AYESHA ZAHID

NAME: BILAL JAVED-11418

MS-BA

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Brand Equity in Context of Customer Perspective

Introduction:

Brand equity is one of the most valuable things of firm. Brand equity has gained a great

attention in recent time. There are so many studies on brand equity which shows its

importance. The objective of this paper is to access brand equity in context of consumer

perspective. Branding and brand equity have been very important for researchers from so

many years. Brand is an important tool for marketer as the consumer uses it to perceive its

quality, packaging distribution and so on. The knowledge about a brand can directly influence

the brand equity associated with a particular brand, the knowledge about a product category

will influence the brand equity associated with all brands in the product category. The study

of brand equity from strategic point of view can help to improve marketing productivity. A

powerful brand has higher brand equity. Brand equity is influenced by consumer perception

of band and their ability and willingness to purchase. Strong brand names are the most

selected products worldwide. A brand is a promise that company made with there customers.

There are four major consumer related base of brand equity.

1. Brand loyalty

2. Name awareness

3. Perceived quality

4. Other brand association

Thee organization that positions there brand without customer research do at their own risk.

There should be following points to understand the brand equity in context of consumer

perspective.

1. To understand what are the strengths and weakness of brand from consumer

perspective.

2. How consumer perceive brand with competitive brands.

3. To understand which benefit is most that is unique in consumer’s mind.

4. To understand how different categories customer perceive your brand.

A research on brand equity helps to understand what motives decision makers to choose your

brand over their competitors.

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Literature Review:

When concentrating on creating brand association and brand loyalty, managers should not

undervalue the effects of perceived quality and brand awareness. The brand association and

brand loyalty are influential dimensions of brand equity. (Xiao Tong, 2009)

If the retailer passes through promotional efforts, the efforts may facilitate the growth and

revitalization of small brands. Our demonstration of such permanent benefits is important for

brand managers, who are often strapped for resources and thus need to focus on actions that

obtain a larger return for the dollar. Marketing promotions can have long term effects on a

brand’s sales and that brand equity plays an important role in these effects. Lower-equity

brands obtain higher long-term benefits from new product introductions than higher-equity

brands. (PAUWELS, 2008)

Due to great importance and influence of initial brand image on final image and extension

attitude producers would better make sure of their brand’s image in the mind of their

consumers and change the current image if it is not a good one. So they have to extend their

brand only if its initial image is of high quality. (Vazifehdust, 2010)

Brand awareness, perceived quality and brand image, and brand loyalty as cognitive,

affective, and conative stages of brand equity creation, respectively. The brand awareness is

important because it helps a certain airline become a customer's decision choice set. Airlines

are advised to look carefully at their brand marketing communication strategy to help

maintain customer recognition of an airline's brand-name compared to its competitors.

(Ching-Fu Chen W.-S. T., 2010)

There is no one simple measure of brand equity that we can apply to the circumstances of our

market. We have to combine a series of` `constructs’’ including awareness, attitude,

preference, brand preference and choice intention to stand any chance of obtaining a clear

picture of the position our brand enjoys (or doesn’t enjoy) in the minds of consumers.

(Mackay, 2001)

While awareness is necessary we have to use measures of value for money, perceived quality,

and the consumer’s evaluation and choice intentions to arrive at findings that can guide our

marketing activity for the brand. Simply shouting the brand name in our advertising will not

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suffice since we have to communicate some of the other aspects contributing to the

development of brand equity. (Mackay, 2001)

The brand extension strategy may be detrimental to brand image, causing a diluting effect on

brand associations in the customer’s mind. The quality perceived by the customer in relation

to the original brand, customer familiarity with the parent brand and the customer’s attitude

towards this brand may contribute favorably to the final brand image after extension, whether

it is the general brand or product image. Also, the fit between the original and extended

product category may benefit the general brand image after extension, but not the product

image. (Priscila Serrao, 2008)

The customer’s interest in the original product category can be affected negatively after

extension, showing that the diluting effect of extension spreads not only to the extended

brand but to its entire category. It is evident that an unsuccessful brand extension of a single

brand individually would be unable to harm an entire category, principally when addressing a

rising category, such as mobiles. However, it is necessary to be aware of the action of brand

extensions in decadent categories, for example. It is possible that this unsuccessful extension

harms future launchings in this category. (Priscila Serrao, 2008)

A true brand loyalty program creates an asset by making the customer more attached to the

brand over time. That attachment can come from learning, experience, familiarity, increased

switching costs, habit, or customization. (Shugan, 2005)

Creating brand loyal consumer is difficult. Marketer’s needs to continuously improve their

marketing program to attract and retain consumers. As competition in market place is getting

increased consumers are supplied information on different brands. Thus important views

between making more consumer satisfied and marking specific group of consumer satisfied

raised. (Mei-mei Lau, 2006)

Instead of attracting new consumers companied would like to do more business with

consumers in order to retain current consumers and build up long-lasting consumer

relationship. Thus brand loyalty programs are designed to turn one time buyers into buyers

that will purchase the product again. (Mei-mei Lau, 2006)

Cognitive loyalty is addressed to fundamental product’s characteristics, emotional loyalty to

brand, behavior to want to buy product and action loyalty means that a customer is loyal to

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the company. Customers’ retention does not prove customers’ loyalty. (Sandra Martisiute,

2010)

Consumer satisfaction and consumer loyalty depends on a product type, is it a new and

innovative one or a traditional one. Satisfaction is more significant for innovative products

than for traditional ones. Customers’ satisfaction is essential for customers’ loyalty. Loyalty

and satisfaction have a strong relation. (Sandra Martisiute, 2010)

A consumer is loyal to a brand in general is very difficult to change in the use of other

products, where consumer loyalty to a brand has increased, then the threat of similar

competitor products will be reduced. Cause of brand loyalty is due to inability of the

company in maintaining stability and kuaitas quality of products or specific brands.

(Heryanto, 2011)

A comprehensive perception of brand equity from the customer’s point of view is essential

for successful brand management. (Naser Hamidi, 2010)

When management is embarking on an exercise to value their organization's brands, it is

recommended that they do the following: Management must firstly understand the nature of

their firm's intangible assets. If one of the organization's intangible assets is marketing

related, they must determine on what attribute the brand derives its benefit. The purpose of

the valuation must then be determined. (Russell Abra, 2003)

Brand equity is a complex issue to manage, but vital to business success. Therefore,

marketers should take a broad view of marketing activity for a brand and recognize the

various effects it has on brand knowledge, as well as how changes in brand knowledge affect

more traditional outcome measures such as sales. Marketers must realize that the long-term

success of all future marketing programs for a brand is greatly affected by the knowledge

about the brand in memory that has been established by the firm's short-term marketing

efforts. (Wendy Wilson, 2004)

Successful branding is not just about smart, creative brands, but also about well planned and

executed brand management. Strong brands need to be well articulated, communicated and

developed internally and delivered consistently. Intangible resources such as brands not only

need to be recognized, but also safeguarded through well-designed brand management

methods, and not simply by legal means. (Simon D.M. M ’ zungu, 2010)

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There is a positive relationship between brand equity, brand preference, and purchase

intentions with a moderation effect of switching cost affecting the relationship between brand

equity and purchase intentions. (Ching-Fu Chen Y.-Y. C., 2008)

In the case of products without any brand, appellations of origin work as brands since they

improve perception of products’ intrinsic attributes–the so-called “halo effect” according to

some authors. They also reduce the variability of quality evaluations because a brand name

guarantees a certain degree of homogeneity. Therefore, the appellation of origin adds value to

food products and has a very important effect on quality expectations at the moment of both

purchase and consumption. (Dopico, 2002).

Conceptualizing brand equity from the consumer’s perspective is useful because it suggests

both specific guidelines for marketing strategies and tactics and areas where research can be

useful in assisting managerial decision making. Marketers should take a broad view of

marketing activity for a brand and recognize the various effects it has on brand knowledge, as

well as how changes in brand knowledge affect more traditional outcome measures such as

sales. Markets must realize that the long-term success of all future marketing programs for a

brand is greatly affected by the knowledge about the brand in memory that has been

established by the firm’s short-term marketing efforts. (Goi Chai Lee, 2011)

Brand equity, as we conceptualize it here, is a measure derived from arrange of customer-

satisfaction criteria. A hotel will have strong brand equity when a large number of customers

have a favorable perception of and attitude toward the hotel brand. High equity is associated

with high customer satisfaction, brand preference, and loyalty; high guest retention; high

market share; a price premium; high profits; and, finally, good shareholder value. One could

say that brand equity is the sum total of all the net-favorable or positive ratings paid into the

brand’s equity account. (Keshav Prasad, 2000)

As there is a somewhat limited understanding as how to manage the different entities and

measure their contribution to overall brand equity, it is recommended to improve

coordination of the brand equity constituents and put measurement procedures in place. The

marketing communications strategies should be based on planned outcome objectives, and

not on intuition, or personal preferences. A major area of improvement in brand equity

management would be seen in the adoption of the marketing concept, and the employment of

customer orientated strategies. (Nicole Stegemann, 2005)

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Different marketing mix elements impact the creation of brand equity with different levels of

intensity, as well as that some elements of marketing mix can negatively affect the creation of

brand equity. Those managers who are engaged in strategic brand management may use the

price level as an instrument for improving the brand image. A higher brand price

communicates a better brand image, and through a more positive brand image indirectly leads

to an increase in brand equity. (Rajh, 2005)

Brand value is dependent on a number of stakeholders and that these function as a network

supporting (or working against) brand value. Achieving high brand value normally requires

achieving synergy between these different relationships; stakeholders other than customers

are vital sources of brand value. They perform more than simply a supportive role. Brand

value doesn’t equal the sum of the value of each relation. In brand equity terms we cannot

simply sum the individual positive equities minus the negative ones. (Jones, 2000)

Having a brand loyal customer profile in the service industry is crucial. One of the strategies

of having such a customer profile is creating a unique environment in the service organization

in which physical, service delivery and employee variables are all well balanced. The staff’s

politeness and timely service has a positive impact on customer loyalty meaning that

customer perceptions are mainly influenced by the employee’s behavior and attitudes. For

this reason, human resource policies like recruitment, selection and training play a crucial

role in the success of hotel organizations. (Ru¨c¸han Kayaman, 2007)

Brand equity has a stronger significance positive effect on competitive advantage and

performance of Thailand Spa businesses. In addition, antecedents of brand equity have more

relationship to brand equity. Relationship between competitive advantage and performance

via moderator market turbulence is not in association. (Nurittamont, 2008)

There is a significant difference in the degree of brand loyalty exhibited by the 18--24-year-

old respondents across product categories. The dimensions of brand selection also vary by

product type.

Brand Loyalty in terms of quality, novelty and reputation influence was evident in coffee and

toothpaste purchase, with brand as a reflection of self-image being something that is

important to mobile handset brands. (Srivastava, 2007)

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Relationship marketing is not more than just getting the customers but it is also how to

maintain the existing customers as much as possible. There are important dimensions that

supported the strength of relationship marketing that can lead to brand loyalty. In relation,

brand loyalty refers to the favorable attitude towards a brand in addition to purchasing it

repeatedly by the customer. The customer tends to be loyal since there is relationship

marketing between them and the organization. (Maznah Wan Omar, 2010)

There is little support is found for the often-heard contention that brand loyalty is gradually

declining over time. while the short-run variability around a brand' s mean loyalty level is

not negligible, no evidence is found that this variability has systematically increased over

time, and it can be reduced considerably through a simple smoothing procedure. The brand-

loyalty pattern for market-share leaders is found to be more stable than for other brands.

(Marnik G. Dekimpe, 1997)

For the brand loyalty price is an important element because according to the economic

conditions of the country people love to buy the product which gives them more features in

an economical package. So we can say for the brand loyalty price is for more important the

innovation. (Ali Raza Nemati, 2010)

Some types of co-branding (i.e., price benefits and post-purchase services) can be an effective

marketing strategy that allows restaurants to construct customer satisfaction and brand

loyalty. (Woo Gon Kim, 2007)

Customer brand loyalty came into enterprisers’ eyes for several years. It plays a more and

more important role in the modern global marketing. In order to maximize profit, people try

different strategies, among which, loyalty is recognized by a large amount of businessmen.

On the other hand, some may assert that it is a challenge to achieve it. Most of all, by finding

the elements and effect of loyalty, businessmen may better understand the nature of consumer

faith. (Mao, 2010)

Strong consumer-based brand equity is an asset, which is expected to enhance consumer

value, increase purchase intent, and increase the company’s market performance. The essence

of strengthening and adding more value to brand equity, we must carefully study the target

group in terms of preference, social status, lifestyle, and consumption behavior so that we can

provide the right service and exploit each IMC discipline effectively. (Petburikul, 2009)

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For intangible products such as education, corporate brands involve and engage all

stakeholders, including students, parents, the community, the government, and employees,

amongst others. Through corporate branding, the image of the organization, as opposed to the

attributes of a product (education) is used to differentiate the organization, and build the

value of an educational institution. (Joo-Gim Heaney, 2008)

Brands that have established desired brand equity in the market place can have potential to

leverage its equity through line extension, brand extension, ingredient branding, cobranding,

brand Alliances, and/or social goodwill. These approaches enable the companies to leverage

the parent brand associations to new categories of products and chart a new growth path for

their brands. (Ghodeswar, 2008)

Personal selling, advertising, direct marketing, public relations and sales promotions should

be improved and developed as brand creating factors. (Nafiseh Sedaghat, 2012)

As the business environment becomes more competitive, customers and non-customers

become more demanding, companies must understand and develop relations with multiple

stakeholder groups to gain a competitive advantage and secure favorable relationships that

will sustain and fuel business growth. This requires building distinct relationships with

customers and non-customer stakeholders and aligning both the product brand and corporate

brand to meet stakeholders’ expectations. (Hamed M. Shamma, 2011)

Brand equity is the perception or desire that a brand will meet a salient promise of benefits.

Brand equity is an intra-individual construct similar to attitude strength. The literature on

attitude strength supports the following additional definitions.

Within the person: Brand equity results in biased processing of information that leads

to persistent attitudes or beliefs that are resistant to change.

Individual-level outcomes: Behavior consistent with high levels of salient brand

equity are more positive responses to product changes (improvements/mistakes),

product harm, new competition, brand extensions.

Market outcomes: Aggregated individual behaviors lead to the traditionally measured

firm-level outcomes (for example, loyalty, price premium, market share). (Tiwari,

2010)

Brand equity and price premium focusing on the grocery sector specifically highlights the

role of uniqueness, together with the four traditionally basic dimensions of brand equity

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proposed: awareness, qualities, associations and loyalty. Relevant brand associations (origin,

health, environment/animal friendliness, organizational associations and social image), and

quality attributes (taste, odor, consistency/texture, appearance, function, packaging and

ingredients) specific to groceries are identified. (Johan Anselmsson, 2007)

The brand name associated with a product led people to evaluate quality of that product as

either higher or lower depending on the strength of the brand name. (Heather Hilgenkamp,

2010)

Brand equity positively influences consumer’s brand preference and purchase intention. But

results unsupported moderating role of country of origin image. (Hadi Moradi, 2011)

The corrected brand equity construct is fairly better correlated to other constructs related to

brand strength, such as market share and distribution indices. (Jourdan, 2009)

Brand loyalty has the greatest contribution to the development of brand equity. This implies

that companies of chocolate industry should put greater emphasis in creating brand loyalty

for their products. To ensure loyal customers, producers and retailers need to build long-term

relationship with their customers, offer and maintain high quality products, and provide good

services. (Hossien Emari, 2012)

Brand equity increases business value and provides competitive advantages to the company.

These values and competitive advantages are:

Strong brand simplify purchase decision process, improve success rate for premium product

pricing and leverage company’s success in new products launch.

The brand name is often interpreted as an indicator of quality and strong brand is a promise

of quality and satisfaction.

Strong brand equity can be linked to a good image that buyers want to be associated with,

while higher brand equity leads to greater loyalty from customers and can be used for

competitiveness. (Darlington Onojaefe, 2011)

Brand managers efforts should be focused on customer loyalty, trustworthiness, brand

advocacy, brand distinction and innovative features in managing brand equity. Right

marketing mix should be focused to exploit brand equity in terms of the purchase decisions

and repetitive sales of the products. (Ashutosh Nigam, 2011)

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Strong brand equity allows the companies to retain customers better, service their needs more

effectively, and increase profits. Brand equity can be increased by successfully implementing

and managing an ongoing relationship marketing effort by offering value to the customer, and

listening to their needs (Ashutosh Nigam, 2011)

In order for the financial service provider to achieve brand resonance and brand equity, they

need to integrate the perspective of the customer – what is the customer trying to accomplish,

for the employee - what are employees doing to provide the service and how is the service

produced. (Norzalita Abd Aziz, 2010)

It is clear that the related brand supplier shall draw up accurate brand strategies according to

its product features and market situation, so that it will be able to possess concrete customer

confidence, high brand equity and perfect brand performance. (Tung-Lai Hu, 2010)

Brand Loyalty, Brand Association, Brand Name and Brand Communication should be

enhanced for increasing customer based brand equity. The direct and indirect effect of the

antecedents on CBBE shows that some antecedents may not be directly affecting the CBBE

of a brand. (Pallabi Mishra B. D., 2011)

Although brand equity cannot be built in short term, it can be built in long term through

carefully designed marketing activities. (Chieng Fayrene Y.L., 2011)

For any business to survive and sustain its competitive edge it should protect its supply chain

integrity. Supply chain integrity plays a significant role in building and maintaining the brand

equity of a company’s products. (Munyaradzi Mutsikiwa, 2010)

Focusing on brand equity from a customer’s perspective enables marketing managers to

determine how their marketing efforts contribute to the value of their brands in the mind of

the customer. (J.D.W. Nel, 2009)

Managers should concentrate their efforts primarily on brand loyalty and brand image, which

have high importance in the construct of brand equity. Marketing/brand managers should

consider the inter correlations among the four dimensions of brand equity, especially the

relationship of perceived quality to brand association and brand loyalty, and the relationship

of brand awareness to brand association and brand loyalty. (Kambiz Heidarzadeh Hanzaee,

2012)

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Brand equity is different for customer segments with differing levels of loyalty, and that even

non-CFB promotions support brand equity in certain market segments (like those dominated

by spurious loyal customers). (Joshy Joseph, 2009)

To enhance customer based brand equity of a brand the brand association, brand personality

and brand image have to be enhanced too. CBBE provides value to the customers as well as

to the firm. Customer based brand equity further uplifts the firm’s ability to demand higher

prices, effective marketing communications, customers’ willingness, successive brand

extensions and licensing opportunities. (Pallabi Mishra B. D., 2011)

Pinwheel of brand value to purchasers comprises four performance components: product,

distribution services, support services, and company. Therefore, to enhance brand equity,

managers in industrial market can improve their industrial brand equity by devoting their

attention to these four components. (Chi-Shiun Lai, 2010)

Strong brand equity leads to the customers’ higher perceived value which increases their

revisit intentions. Furthermore, brand loyalty has a great impact on hotel revisit intentions,

followed by brand awareness/brand association and perceived quality. (Yaqian Zhou, 2011)

Conclusion:

Brand loyalty and brand image has high importance in increasing brand equity. When

concentrating on customer brand loyalty manager should not undervalue quality and brand

awareness. Strong brand leads to customers higher perceived values which increases their re

purchases intention.to improve the brand equity manager should focus on these four

performance components.

1. Product

2. Distribution

3. Service

4. Company

Customer based brand equity further uplifts the firm’s ability to demand higher prices. Brand

equity is different for different customer segments. It helps managers to determine how their

marketing efforts contribute to the value of their brands in the mind of the customer. There

should be accurate brand strategies according to its product features and market situation, so

that it will be able to possess concrete customer confidence, high brand equity .Brand equity

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is not built in short term it builds in long term. Supply chain have also important role in

enhancing brand equity. Brand equity can be increased by successfully offering values to

customers and listening to their needs.

The brand name is often interpreted as an indicator of quality and strong brand is a promise

of quality and satisfaction. Strong brand equity also provides competitive advantage to

company over their competitors.

Strong consumer-based brand equity is an asset, which is expected to enhance consumer

value, increase purchase intent, and increase the company’s market performance. Different

marketing mix elements impact the creation of brand equity with different levels of intensity,

a high brand price have higher brand image in customer mind and vice versa. Brands should

also be protected through well-designed brand management methods, and not simply by legal

means.

The following series of constructs helps to measures the brand equity of brand.

1. Awareness,

2. Attitude,

3. Preference,

4. Brand preference and

5. Choice intention

Brand awareness, perceived quality and brand image, and brand loyalty as cognitive,

affective, and conative stages of brand equity creation

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