Existing approaches of measuring the brand equity 1
Research Background 3
Analysis of findings 4 Awareness 4 Knowledge 5 Familiarity 5 Relevance 5 Image attributes 5 Purchase consideration 6 Preference 7 Satisfaction 9 Perceived Quality 9
Research Limitations 10
Conclusion 10
Bibliography 12
Appendix. Questionnaire 14

Existing approaches of measuring the brand equity

Brand equity itself and different methods of measuring it have been highly debated by marketing scholars, especially in the past two decades, when it was admitted that brand could be considered as one of the company’s intangible assets (Kapareliotis and Panapoulos, 2010). One of the most debatable issues was how to define the brand equity, since for different stakeholders brand equity has different meanings (Wood, 2000; Atelgan et al., 2005). Though the scholars rarely agree on the number and the types of the perspectives brand equity can be viewed from, Cobb-Walgren et al. (1995) and Wood (2000) agree that brand equity can be discussed mainly from four perspectives: perspective of investor, manufacturer, retailer and consumer. Feldwick (1996) summarized all of the approaches of understanding the brand equity and gave 3 definitions, which cover all the brand equity’s perspectives:

• “the total value of a brand as a separable asset ± when it is sold, or included on a balance sheet; • a measure of the strength of consumers' attachment to a brand; • a description of the associations and beliefs the consumer has about the brand” (cited at Wood, 2000, p. 2).

However, majority of the scholars agree that if the brand has no meaning to the customer, than none of the definitions are applicable (Cobb-Walgren et al., 1995; Lassar et al., 1995; Wood, 2000; Atilgan et al., 2005). Therefore,