...EFFECT OF COUNTRY OF ORIGIN ON BRAND EQUITY OF CARS IN INDIA: A STUDY Faculty Guide: Prof. Sandeep Puri Authors: Chandana Mandal, Mohit Jain, Ambika Paliwal, Rohit Iyer, Sahil Gupta INSTITUTE OF MANAGEMENT TECHNOLOGY, GHAZIABAD ABSTRACT Marketers and consumer behaviour researchers generally accept that a product’s or brand’s country-of-origin is an important influencing factor in consumer decision-making. Most of the previous studies suggest that country-of- origin information which is indicated by the “Made in ...” label which serves several purposes in consumer decision-making. It acts as a salient attribute in consumer product evaluation. That is, the image that consumers have about a certain country will influence their perceptions of products from that country. Since consumers’ perception of a particular country-of-origin influences their evaluation of products from that country, this will influence their preference, purchase intention and choice of a particular brand and hence has implications on the brand’s equity. In this study the effects of brand’s country-of-origin image on the formation of brand equity in two clusters i.e India and foreign market(African and French market) is studied. Here a high involvement category of Cars has been selected. Introduction In the arena of global marketing, building strong brands has become a top priority for marketers. Beyond, the marketing mix variables (advertising, distribution, price and product quality), the consumer’s...
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...3 The Effects of Marketing Mix Elements on Brand Equity* Edo Rajh** Abstract The structural model of the effects of marketing mix elements on brand equity is defined in line with the existing theoretical findings. Research hypotheses are defined according to the identified structural model. In order to test the defined structural model and research hypotheses empirical research was conducted on the sample of undergraduate students of the Faculty of Economics and Business in Zagreb. Research results indicate that the structural model has an acceptable level of fit to the empirical data. The estimated structural coefficients and indirect effect coefficients indicate the direction and intensity of effects of each analysed element of marketing mix on brand equity. Finally, implications of research results for the theory and practice of brand management are analysed and discussed. Keywords: brand equity, brand, strategic brand management, marketing mix JEL classification: M31 * This paper was originally published in Privredna kretanja i eknomska politika (Economic Trends and Economic Policy) No. 102, 2005, pp. 30-59. ** Edo Rajh, Research Associate, The Institute of Economics, Zagreb. Croatian Economic Survey 2005 53 1 Introduction The concept of brand equity was first introduced in marketing literature in the 1980’s. During the 90’s this topic received significant attention from both scientists and marketing practice, which resulted in a large number of articles and books...
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...between brand equity and firms’ performance in luxury hotels and chain restaurants$ Hong-bumm Kima,1, Woo Gon Kimb,* b a College of Hospitality & Tourism, Sejong University, Kwang-jin Gu, Gun-ja Dong 98, Seoul 143-747, Republic of Korea School of Hotel and Restaurant Administration, Oklahoma State University, 210 HESW, Stillwater, OK 74078-6173, USA Received 27 February 2004; accepted 4 March 2004 Abstract There is a growing emphasis on building and managing brand equity as the primary drivers of a hospitality firm’s success. Success in brand management results from understanding brand equity correctly and managing them to produce solid financial performance. This study examines the underlying dimensions of brand equity and how they affect firms’ performance in the hospitality industry—in particular, luxury hotels and chain restaurants. The results of this empirical study indicate that brand loyalty, perceived quality, and brand image are important components of customer-based brand equity. A positive relationship was found to exist between the components of customer-based brand equity and the firms’ performance in luxury hotels and chain restaurants. A somewhat different scenario was delineated from the relationship between the components of customer-based brand equity and firms’ performance in luxury hotels and chain restaurants. r 2004 Elsevier Ltd. All rights reserved. Keywords: Customer-based brand equity; Firms’ performance; Chain restaurants; Luxury hotels; Brand awareness ...
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...com Measuring Customer-Based Restaurant Brand Equity Woo Gon Kim and Hong-Bumm Kim Cornell Hotel and Restaurant Administration Quarterly 2004; 45; 115 DOI: 10.1177/0010880404264507 The online version of this article can be found at: http://cqx.sagepub.com/cgi/content/abstract/45/2/115 Published by: http://www.sagepublications.com On behalf of: The Center for Hospitality Research of Cornell University Additional services and information for Cornell Hotel and Restaurant Administration Quarterly can be found at: Email Alerts: http://cqx.sagepub.com/cgi/alerts Subscriptions: http://cqx.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Downloaded from http://cqx.sagepub.com at SAGE Publications on December 2, 2009 © 2004 CORNELL UNIVERSITY DOI: 10.1177/0010880404264507 Volume 45, Issue 2 115-131 ARTICLE 10.1177/0010880404264507 Measuring Customerbased Restaurant Brand Equity Investigating the Relationship between Brand Equity and Firms’ Performance by WOO GON KIM and HONG-BUMM KIM Strong brand equity is significantly correlated with revenues for quick-service restaurants. In a study 394 respondents gauged the strength of seven quickservice restaurant brands doing business in Seoul, Korea. The study tested four elements of brand equity, namely, brand awareness, brand image, brand loyalty, and perceived quality. Of those attributes, brand awareness had the strongest direct effect on revenues...
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...Introduction Strong brand equity had become a very important factor that influences consumer’s perceptions of a brand. Success in brand management arises from understanding and managing brand equity correctly to produce strong attributes that will influence consumers when making their choices. The research focused on the importance of these dimensions (brand awareness, brand loyalty, brand image and perceived quality) of customer-based brand equity on consumer’s perceptions of a brand. This was based on the assumption that all these dimensions of customer based-brand equity will have influence on consumer’s perceptions of brand. However, the thesis aimed to find out which among three dimensions (brand image, brand loyalty and perceived quality) appear to have the least brand equity in both restaurants and to find out if customer perception is met with respect to each attribute of brand awareness, brand image, perceived quality and brand loyalty. Brand awareness was treated separately from other dimensions because of the difference in scale. A structured questionnaire was constructed to provide answers to our research question. In this study, a number of questionnaires were distributed, but only sixteen useable questionnaires were realized. The study surveyed four dimensions of consumer’s based-brand equity namely brand awareness, brand image, perceived quality and brand loyalty. Among the three dimensions, brand loyalty appears to have the least brand equity rating by consumers...
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...MKT-429: Chapter 2 CUSTOMER-BASED BRAND EQUITY Customer-based brand equity: Past experience-Marketing Activity- Word of Mouth The CBBE is formally defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. The Power of a brand lies in what resides in the mind of customers. ▪ Differential effect-How customer react about the name ▪ Brand knowledge-Consumer has learned, felt, seen and heard ▪ Consumer response to marketing-Recall, actions in sales promotion, evaluation of extensions Marketing advantages of strong brands (Figure 2.1) ▪ Greater loyalty ▪ Less vulnerability to competitive marketing actions ▪ Improved perceptions of product performance ▪ Less vulnerability to marketing crises ▪ Larger margins ▪ More inelastic consumer response to price increases ▪ More elastic consumer response to price decreases ▪ Greater trade cooperation and support ▪ Increased marketing communication effectiveness ▪ Possible licensing opportunities ▪ Additional brand extension opportunities Brand equity as a bridge: a) Brands as a reflection of the past: b) Brands as direction for the future: FIGURE 2-2 MAKING A BRAND STRONG: BRAND KNOWLEDGE Associative network memory model: The associative network memory model views memory as consisting of a network of nodes and connecting links ❑ Nodes represent stored information or concepts ❑ Links...
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...BRAND EQUITY OF FOOD RESTAURANTS IN KARACHI SYED MEHDI RAZA & TARIQ JALEES Abstract The objective of this study was to measure consumers’ perception on the brand equity of the fast food chains operating in Karachi. The selected fast food chains for the purpose of this research were KFC, McDonalds, Subway and Mr. Burger. A closed ended questionnaire based on a liker rating scale was developed. The questionnaire was based on literature survey, and the theoretical framework. The field survey was carried out in October 2004. The final sample size was of 83 respondents. The brand equity of KFC with the mean of 3.95 was highest and the brand equity of Mr. Burger with a mean of 3.13 was lowest. The respondents’ opinions varied normally with standard deviation of 0.69 to 1.02. The developed hypotheses were tested through one way and two- way ANOVA. Subway and Mr. Burger have adopted a niche-focused strategy and it was found that they both are doing well in their respective areas. KFC was found to be the leading brand. McDonalds has to improve a lot in terms of brand image and positioning. It is one of the most marketed and advertised fast food brands in the country and it has not been successful as shown by its relatively low brand equity score. i. Objective of Study The objective of this study is to measure consumers’ perception on the brand equity of the fast food chains operating in Karachi. The selected fast food chains for the purpose of this research...
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...The Impact of Brand Awareness on Brand Equity: A Study of Malaysian Automobile Industry Prepared by: Wiki Noviandi (G1335059) Feras Qawasmeh (G1335039) Nor Izuan Shah Minhad (G1325003) Wira Amirul (G1230579) Abdul Razak (G1333627) Prepared for: Prof. Dr. AKM Ahasanul Haque Date of submission: 13/07/2014 Abstract This research project will use quantitative measurement to examine how influence of brand awareness on brand equity to the customer purchasing decision on Malaysian automobile industry. The quantitative method used is to survey because this method creates the results as statistically reliable. This study focuses on whether Malaysian consumers are knowledgeable about branded products and most of the Malaysian consumers are loyal to a particular brand. Furthermore, brand name and symbol defines the social class of consumers and branded products believed to be of superior quality. Table of Content Abstract…………………………………………………………………………………. 2 Table of Content………………………………………………………………………… 3 Introduction…………………………………………………………………………….. 4 Literature Review………………………………………………………………………. Brand Equity……………………………………………………………………. 6 Brand Knowledge………………………………………………………………. 8 Brand Awareness……………………………………………………………….. 9 Automotive Industry……………………………………………………………. 10 Proposed Methodology…………………………………………………………………. 13 References……………………………………………………………………………….. 14 Appendix….……………………………………………………………………………….. 17 Introduction Brand is symbol intended...
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...Consumer Based Brand Equity Model CBBE model endorses the fact that the power of a brand in actual lies within the minds of its customers. Various components of the CBBE model act as building blocks to enhance the marketing program of a brand. * Salience represents the bottom of the customer-based brand equity pyramid. This refers to what customers associate with a particular brand. * 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. The customer-based brand equity model relies on the description of a company's image and other intangible impressions from the user experience. 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. * Resonance describes the resulting customer loyalty and engagement with the brand. It describes whether a brand has a marked presence in the customers' minds or is just an indistinct blip on their radar screens. BAV Model BAV Model measures the brand value of an entity based on two broad factors; brand vitality and brand stature. Brand stature...
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...Chapter 8 – Developing a brand equity measurement and management system * Indirect approach: assess potential sources of CBBE by identifying and tracking consumers’ brand knowledge. * Direct approach: assess the actual impact of brand knowledge on consumer response to different aspects of the marketing program. * Brand equity measurement system: set of research procedures designed to provide marketers with timely, accurate, and actionable info about brands so they can make the best possible tactical decisions in the short run and strategic decisions in the long run. * New accountability- return of marketing investment. * Measuring the long-term value of marketing in terms of both its full short term and long-term impact on consumers is crucial for accurately assessing ROI. Brand Audits * Brand audit: a comprehensive examination of a brand to discover its sources of brand equity. Assesses the health of the brand, and suggests ways to improve and leverage its equity. * 2 steps in a brand audit: brand inventory and brand exploratory. * Marketing audit: comprehensive systematic, independent and periodic examination of a company’s marketing environment, objectives, strategies, and activities with a view of determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance. * Brand inventory: provides a current profile of how all the products and services sold by a company are marketed...
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...Faculty & Research Note on Measuring Brand Awareness, Brand Image, Brand Equity and Brand Value by P. Chandon 2003/19/MKT Working Paper Series Note on Measuring Brand Awareness, Brand Image, Brand Equity and Brand Value Pierre Chandon* INSEAD March 2003 * Pierre Chandon is Assistant Professor of Marketing at INSEAD, Boulevard de Constance, 77300 Fontainebleau, France. Tel: +33 (0)1 60 72 49 87, e-mail: pierre.chandon@insead.edu. Note on Measuring Brand Awareness, Brand Image, Brand Equity and Brand Value The purpose of this note is to provide an overview and references on the various methods that can be used to measure brand knowledge (brand awareness and brand image), brand equity and brand value. This note provides a short definition of each concept and illustrations of the most widely-used measurement techniques. Once you know what you want to measure, it is important to look at the original sources cited to understand how to properly use these techniques. Keller’s (2003) excellent book also provides detailed information on each concept and its measurement. 1. Brand knowledge Brand knowledge refers to brand awareness (whether, and when, consumers know the brand) and brand image (what are the associations that consumers have with the brand) (Keller 2001). The different dimensions of brand knowledge can be classified in a pyramid (adapted from Keller 2001), in which each lower-level element provides the foundations of the higherlevel...
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...MKTG311 Brand Report 30% Manly Council credit: 70/100 Word Count: 2998 Executive Summary This report was commissioned to examine brand management theories and analyse them in regards to a particular case study: Manly Council. Specifically, the research draws attention to Keller’s Brand equity model and the brand-positioning concept that identifies the points of parity and points of difference of a brand in relation to its competitors. Manly council is located eight kilometers from Sydney’s Central Business District and has a population of approximately 40,000. The Council uses a wide variety of marketing strategies to create brand awareness, two of which will be discussed in this report: Brand Positioning through marketing to distinct demographics and Manly Council developing an online presence through social media. The report evaluates the brand theories along side Manly Councils Marketing Strategies and concludes that the brand marketing is consistent and relevant towards attracting people into its district. It is recommended that: * To gain a larger cliental, Manly Council must continue creating awareness of the upgrades and developments being made. * Advertisements should be addressing the needs of more subgroups/demographics. * Combining the social media Facebook forums of Manly council and Hello Manly will form a larger market to create brand awareness. * Updating and monitoring the pages weekly to enhance social activity * Finding...
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...Brand Equity: The value put by Brand’s consumers and channel members which permit the brand to earn larger volumes and margins than it would without the brand name and which adds as differentiating factor for the brand over its competitors is defined as the brand equity. The values, consumers associate with the brand are reflected in their brand loyalty. A positive perception of the brand results in brand awareness and less marketing effort. Consumer’s perception of organization and loyalty depend on the value they put on brand which is measured in terms of brand equity which might add value. Brand equity is an intangible asset to the company. Brand Equity is important for three major reasons: 1. Brand Equity creates shareholder value 2. Brand Equity Building is a competency that can be mastered to create competitive advantage 3. Brand Equity management creates an array of growth opportunities for business. Frame work for Measuring Brand Equity: Brand Awareness: Brand awareness is key determinant in measuring brand equity. It measures the ability of customers to recognise a brand and recall the logo, symbol etc to certain associations in their memory. Apart from brand recall and recognition, brand knowledge, brand dominance, brand opinion also is included in brand awareness. Brand associations: Brand associations consist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes and is anything linked in memory to a brand. Associations...
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...Designing and Implementing Brand Architecture Strategies DEVELOPING A BRAND ARCHITECTURE STRATEGY Definition: Brand Strategy/Brand Architecture tells marketers which brand name, logos, symbols and so forth to apply to new and existing products. Brand Architecture: It describes both brand breath or boundaries and its depth or complexity The Role of Brand Architecture: * To clarify brand awareness: Improve consumer understanding and communicate similarity and differences between individual products and services. * To improve brand image: Maximize transfer of equity between the brand and individual products and services to improve trial and repeat purchase. 3 Steps of Developing a brand architecture strategy: Step 1: Defining Brand Potential Define the brand potential by considering three important characteristics (1) the brand vision, (2) brand boundaries, (3) brand positioning. Articulating Brand vision: * Brand vision = Management view of brands long-term potential * Influenced by: * how well the firm is able to recognize the current and passive future brand equity. * Many firms have latent brand equity * that is never realized because the firms are unable or unwilling to consider all that the brand could and should become. * A good brand vision has a foot in present and future * Brand vision needs to be aspirational * so has room to grow and improve * Fundamentally brand visions relates the higher order...
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...In this chapter, we are going to explain brand awareness and brand image. Customer-based brand equity happens when there is a high level of brand awareness and familiarity with the brand and it occurs when the customer has in memory some strong, suitable, and unique brand associations; and to establish a positive brand image in consumer memory, we need to create brand awareness and brand image to build customer-based brand equity. 2.1 What is brand awareness, and how do we achieve it? First of all, brand awareness is composed of two things: brand recognition and brand recall performance. Brand acknowledgment or recognition is buyers' capacity to affirm former introduction to the brand when given the brand as a sign. Brand recall is purchasers'...
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