1.1 is unique. 1.2 Brand awareness Brand

1.

1 Brand Brand isimportant for any company and establishing and maintaining the proper positionin the minds of customers is one of the important goals of markers. Customersbuy brand not goods, in other words, brand is something that customer buys andgoods is something that is produced in the factory. Goods can be imitated byrivals but brand is unique. 1.2Brand awareness Brand awarenessis an important indicator of consumers’ knowledge about a brand, the strengthof a brand’s presence in the consumers’ minds. It is the probability thatconsumers will easily recognize the existence and availability of a company’sproduct or service. Customer loyalty is a measure of the extent to whichconsumers are loyal to a particular brand over a period of time, whichemphasizes a consistent repurchase of the same brand (Sheth& Mittal 2004).

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Customer loyalty results in an emotional attachment to the brand, which isdriven primarily by commitment and affection. The consumer develops affectionfor the brand in a manner similar to a friendship (Ball, Coelho &Machas2004).The present-day marketplace is flooded with a wide variety of productbrands. Consequently, synchronizing with this inundated of diverse brands inthe market has become lurid for the simple consumer (Suresh, Monahan&Naresh 2012).  1.3 BrandLoyalty Brand loyaltyhas many operational definitions. Normally, brand loyalty is defined as how strongcustomer’s preference is towards a brand comparing to similar options availablein the market. This is often determined based on price volatility or repeatpurchase behavior (Brandchannel.

com, 2006). According to Kasper and Bloemer(1995) actual brand loyalty have six necessary factors that are; the non-random(that is biased), behavioral expression or purchase, over time response,decision-making units, out of a set of such brands the comparison of comparingto one or more alternative brands, and  afunction of psychological processes.When customershave a high relative attitude toward the brand the actual brand loyalty exists andthis is shown by repurchase behavior. Firms can consider this kind of loyaltyis a great asset for firms, because of customer’s willingness to pay higherprices, less cost of serving and opportunity of bringing new customers to thefirm (Sasser and Reichheld, 1990). Brand loyal customers do not try any kind ofevaluated approaches, the known brand is simply chosen by them in terms of somepositive evaluations about it.

Experience of past with the certain brand under consideration stems thisoverall positive evaluation on the brand. According to Amine (1998) inher literature brand loyalty can be described by two main approaches; first oneis behavioral, that tells that the repurchasing a brand by a customer overtimeindicates loyalty of them; second perspective is the perspective from attitudethat supposes that a necessary condition of brand loyalty is consistent buyingbut it is not enough to prove “authentic” brand loyalty. It should be supportedby a favorable attitude towards the brand that ensures that the furthercontinuation of this behavior.Therefore,brand loyalty is a function of attitude as well as behavior. A customer’spreference to purchase a particular brand within available alternative productcategory is defined as brand loyalty.

It occurs when customersunderstand that at the right price the brand proposestheright level of quality or image, product features. This idea is the fundamentalof new purchasing habits. Primarily, a trial product of the brand will bepurchased by customers after that when the purchase is satisfactory to thecustomers, they form habits to repurchase that brand continuously as theproduct seems safe and familiar. In line with Jacoby and Kyner (1973), thereare differences in the middle of recurrence behavior of purchasing and loyaltytowards brand. According to them, the set of six essential as well as mutuallysatisfactory conditions can be defined as brand loyalty. They explained thecombination of six factors i.e.

non-random, behavioral reaction, expression overtime, some unit?s decision making process, in comparison to some other brandsand finally is the function regarding the psychological (evaluation, decisionmaking etc.) procedures. They added that statements of inclination or elseaim of buying i.e. verbal reportsof loyalty are not enough to explainloyalty. In order to consider brand loyalty, verbal reports must be pooled withthe customers? loyal behaviour of purchasing. This article provides me broad meaningof brand loyalty applicable in the work place and hence, the article is very muchcrucial to this research.

In accordance with Tucker (1964), to know detailsabout brand loyalty, one must consider the way it has been developed. Hefurther said that in terms of branded products, brand loyalty isregarded as thebiased purchasing behaviour. He also has made an exciting aspect that he pointsto the Psychology Theory which says that one might learn of loving what heselects as instantly he might learn of choosing what he loves. Tucker arguedthat regardless of any special differences among the various brands, somecustomers will get more loyal to any specific brand. Even if the products ofvarious brands are same, they will also continue choosing products from acertain brand. These happenings are more common in case of sportswear industry.If two sportswear stores serve the same sportswear, people will get more loyalto any of the brands due to the connection made between them and the brand . Onthe other hand, in line with Fournier (1998), factors leading towardsdurability as well asstability of the relationship between consumers and thebrand/s over time period.

She investigated that the six factors lead towardsmaintaining a strong brand relationship. The six factors are: self-connection,passion and love, commitment, interdependence, brand partnerquality and finally, intimacy. Fournier also revealedthat through significant brand as well as actions of consumers, thequality brand relationship can be evolved.

Hence, the reciprocity principal isapplicable in case of quality brand relationship. This principal is applicablein case of all other relationships. The essence of reciprocity principal isthat if someone treats the brand well by the way of becoming loyal to thatbrand, then the brand will also repeat it by becoming faithful to itscustomers. This notion is also related with the example of sportswear industry.In sportswear industry, customers get loyal to the specific sportswear storesas they mean that store will behave them well by becoming available when theircustomers need them.

One processrelates that the experts of marketing are using specification of loyalty bymarket segmentation for a specific product/service. Market segmentation is the procedurein which marketing experts divide the whole market into various segmentsdepending on the apparent quality of product/service as well as cost. Afterthat, the experts habitats various kinds of customers into each of the segmentof products they will buy most. This tool is very much effective for thecompanies which aim at the advertising of their products to a specific consumergroup.  1.4Brand building Building astrong brand is the goal of many organizations. Building a strong brand with significantequity is seen as providing a host of possible benefits to a firm, includinggreater customer loyalty and less vulnerability to competitive marketingactions and marketing crises, larger margins as well as more favorable customerresponse to price increases and decreases, grater trade or intermediarycooperation and support, increased marketing communication effectiveness, andlicensing and brand-extension opportunities. Working paper, report no 01-107,2001 writer: kevin lane keller 1.

4.1The four steps of brand building Building astrong brand, according to the customer-based brand equity model, can bethought of in terms of a sequence of steps, in which each step is contingentupon the successful completion of the previous step. All the following stepsinvolve accomplishing certain objectives with customers:1.     To ensure identification of thebrand with the customer and association of the brand in customers’ minds withspecific product class or customer need.2.     To firmly establish the brand meaningin the minds of the customers by strategically linking a host of tangible andintangible brand associations. 3.     To elicit the proper customerresponses to this brand identity and brand meaning, 4.

     To convert brand response to createan intense, active loyalty relationship between customer and the brand.  These foursteps represent a set of fundamental questions that customers invariably askabout brands, implicitly if not explicitly: Who are you? (Brand identity). Whatare you? (Brand meaning). What do I think or feel about you? (Brand response).

Whatkind of association and how much of connections would I like to have with you?(Brand relationships). There is anobvious sequence in this “branding ladder,” that is, meaning cannot beestablished unless identity has been created; responses cannot occur unless theright meaning has been developed; and a relationship cannot be forged unlessthe proper response have been elicited. Working paper, report no 01-107,2001 writer: kevin lane keller 1.4.

2Brand-building blocksEnacting thefour steps to create the right brand identity, brand meaning, brand responses,and brand relationships is complicated and difficult process.to provide somestructure, its useful to think of six “brand building blocks” to accomplish thefour steps necessary to create strongbrand.to connote the sequencing involved,these building blocks can be assembled as a brand pyramid. Creating significantbrand equity involves reaching the pinnacle of the pyramid and will only occurif the right brand building -blocks are in place. The corresponding brand stepsrepresent different levels of the pyramid as illustrated in Figure 1.1. WhileFigure 1.

2 examines each of the building blocks in detail.             Figure1.1Customer- based brand equity pyramid                Figure 1.2Sub-dimensions of brand building blocks  1.5 Benefits of branding for companies Researchers agree that branding provides a variety of importantbenefits to the industry. First, a clear brand identity helps marketerssuccessfully differentiate their offerings from their competitors (Aaker, 2007;Keller, 2008). Second, successful branding helps firms reduce advertising costsby increasing awareness of the brand name (Keller & Lehmann, 2006; Keller,2008). Third, branding helps a firm to become a leader among the competitors inthe same product category (Keller, 2008).

As a consequence, a desirable brandidentity not only helps increase the profit margin resulting from consumers’ willingnessto pay a premium for products, it may lead to profitable brand extensions intothe same or different market. Finally, certain characteristics of branding helpfirms safeguard their product features through legal protection fromcounterfeiting (Keller, 2008; Keller & Lehmann, 2006; Schmitt , 1997). 1.6 Benefits of branding for consumers Branding provides consumers with three major benefits: riskreduction, information efficiency, and self-expression (Aaker, 2007; Keller,2003, 2008; Riesenbeck & Perrey, 2007).

Keller (2008) argued that brandinghelps consumers decrease the chance of choosing a  product that may not perform well or meettheir expectations. Thus, risk reduction is accomplished by providing assuranceof consistent quality. Riesenbeck and Perrey (2007) suggested that branding mayhelp consumers recognize and become aware of offerings in a specific productcategory, which helps them efficiently categorize vast amounts of informationavailable about the product.

Finally, branding involves creating cognitivestructures that help consumers organize knowledge and experience regardingdifferent  products, which may helpconsumers transfer characteristics of the brand onto themselves (Riesenbeck& Perrey, 2007). This process, in turn, could affect consumers’ perceptionof a  brand as a reflection of theirpersonality, character, social status, and lifestyle (Aaker, 2007).  1.7 Brand identity Brand salience. Achieving the right brand identity  involves creating brand salience,  brand salience relates to aspects of customerawareness of the brand.

How easily and often is the brand evoked under varioussituations or circumstances? To what extent is the brand top-of-mind and easilyrecalled recognized? What types of cues or reminders are necessary? Howpervasive awareness?  Formally, brand awareness refers to customer’s ability to recalland recognize a brand. Brand awareness is more than just the fact thatcustomers know a brand name and the fact that they have previously seen it,perhaps even many times brand awareness also involves linking the brand name,logo, symbol, and so forth  to certainassociations in memory. In particular, building brand awareness involves makingsure that customers understand the product or service category in which thebrand competes. There must be clear links to other product or services soldunder the brand name. At a broader, more abstract level, however, building brandawareness also means ensuring that customers know which of there needs thebrand is designed to satisfy through this products. In other words, what basicfunctions does the brand provide for customers? Salience forms the foundational building block in developing brand equity andprovides three important functions.

First salience influences the formation andstrength of brand associations that make up the brand image and gives the brandmeaning. Second, creating a high level of brand salience in terms of categoryidentification and needs satisfied is of crucial importance during possiblepurchase or consumption opportunities. brand salience influences the likelihoodthat brand will be a member of the consideration set, those handful of brandsthat receive serious consideration for purchase. Brand salience is alsoimportant during possible consumption settings in terms of maximizing potentialusage.

Third when customers have “low involvement” with a product category,they may make choices based on brand salience alone. Low involvement occurswhen customers lack either: purchase motivation (e.g., when customers do notcare about the product or service or purchase ability (e.

g., when customer donot know anything else about the brands in a category or lack the expertise tojudge quality even if they do know some thinds).  1.8 Key criteria for brand identity Brand awareness can be distinguished in terms of two key dimensionsdepth and breadth. Depth of brand awareness refers to how easily customers canrecall or recognize the brand.

While breadth of brand awareness refers to therange of purchase and consumption situations in which the brand comes to mind.A highly salient brand is one that possesses both depth and breadth of brandawareness, so that customers always make sufficient purchases as well as alwaysthink of the brand in a variety of settings in which the brand could beemployed or consumed. Thus, in terms of creating brand salience, in many cases it is not only thedepth of brand awareness that matter, but also the breadth of brand awarenessand the proper linkage of the brand to various categories and cues in the mindsof customers. In other words, it is important that the brand not only be”top-of-mind” and have sufficient “mind share”, but it must also do so at theright times and right places breadth is an often-neglected consideration, evenfor brands that are category leaders with many brands, the key question is notwhether customers can recall the brand, but rather, where do they think of thebrand, when do they think of the brand, and how easily and often do they thinkof the brand? In particular, many brands and products are ignored or forgottenin possible usage situations. Increasing the salience of the brand in thosesettings can be effected means to drive consumption and increase sales volume.For example, a potentially effective strategy for market leader campbell’soverlooked consumption opportunities.

 

x

Hi!
I'm Mary!

Would you like to get a custom essay? How about receiving a customized one?

Check it out