It is a simple example but a great situation to understand brand and brand equity. If that action is in favor of any brand than is positive brand equity and that action is not favorable than its negative brand equity. Brand equity is a good barometer to understand past action and future course of action for marketers, who are active in formulating strategies for a given brand.
The CBBE model centers that value in the minds of customers.
|Customer Based Brand Equity||You are able to sell your product because it satisfies a particular set of your customers' needs; this is your unique selling propositionor USP. You should already be familiar with these needs, but it's important to communicate to your customers how your brand fulfills these.|
It compels businesses to define their brands according to a defined hierarchy of qualitative, or common-sense, customer impressions. These impressions are often laid out in pyramid-shaped levels; they consist of salience, performance, imagery, meaning, judgments, feelings, and resonance.
Equity can be considered the sum total of values associated with a brand. These might include awareness, loyalty, and recognition. Salience represents the bottom of the customer-based brand equity pyramid.
This refers to what customers associate with a particular brand. It describes the very basics of what customers think about when they hear the name and how frequently they might think of it.
Essentially, brand salience represents the depth and breadth of brand awareness. Ad Meaning characterizes the next level of the pyramid, which contains cells for performance and imagery. Performance categorizes brand awareness traits, and the types of products associated with the brand.
Company reputation for service and reliability also factor in. Imagery refers to the company image; it relates to emotional marketing, which has been proven more persuasive than factual approaches. These might include user profiles, experiences, and how a customer relates to the company or products in general.
Judgments and feelings fall on the next step up of the customer-based brand equity model. Generally, these aspects look at what a customer thinks and how a customer feels about a brand. Such traits can be described by factors like personal opinions and impressions about how good or reliable a brand may be.
It also addresses customer emotions associated with a brand. At the capstone, resonance describes the resulting customer loyalty and engagement with the brand.
Resonance examines the relationship between a business and its customers and assumes a functional, ongoing interaction.
The efforts of the customer-based brand equity model can create an intuitive, easily communicated and recognizable study of customer impressions.
This can provide great insight and marketing value to help steer a business in a direction its paying customers may better respond to — a more connected customer experience that can show up on the bottom line.Building a strong brand, according to the Customer-Based Brand Equity model, can be thought of in terms of a sequence of steps, in which each step is contingent upon the successful completion of the previous step.
Keller's Brand Equity Model is also known as the Customer-Based Brand Equity (CBBE) Model. 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.".
Conceptualizing, Measuring, and Managing Customer-Based Brand Equity The author presents a conceptual model of brand equity from the perspective of the individual consumer. Customer-based brand equity is defined as the differential effect of brand knowledge on consumer re-.
Customer Based Brand Equity Imagine walking in aisle of a typical super market (Shaw’s, Costco etc) to purchase salt, there are many offerings but choice is “Morton”. It is a simple example but a great situation to understand brand and brand equity. Customer-Based Brand Equity Model Consumer- Brand Resonance Brand Salience Consumer Judgments Consumer Feelings Brand Performance Brand Imagery INTENSE, ACTIVE LOYALTY RATIONAL & EMOTIONAL REACTIONS POINTS-OF-PARITY & POINTS-OF-DIFFERENCE DEEP, BROAD BRAND AWARENESS.
The most common model for customer-based brand equity is the one created by marketing professor Kevin Lane Keller in his book, Strategic Brand Management. Keller puts the model in a four-level pyramid, with the middle two layers being divided equally between two factors.