Consumer Behavior Towards Retail Stores in India

Kevin Lane Keller
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 response to the marketing of the brand. A brand is said to have positive (negative) customer-based brand equity when consumers react more (less) favorably to an element of the marketing mix for the brand than they do to the same marketing mix element when it is attributed to a fictitiously named or unnamed version of the product or service. Brand knowledge is conceptualized according to an associative network memory model in terms of two components, brand awareness and brand image (i.e., a set of brand associations). Customer-based brand equity occurs when the consumer is familiar with the brand and holds some favorable, strong, and unique brand associations in memory. Issues in building, measuring, and managing customer-based brand equity are discussed, as well as areas for future research.
MUCH attention has been devoted recently to the concept of brand equity (Aaker and Biel 1992;
Lxuthesser 1988; Maltz 1991). Brand equity has been viewed from a variety of perspectives (Aaker 1991;
Farquhar 1989; Srivastava and Shocker 1991; Tauber
1988). In a general sense, brand equity is defined in terms of the marketing effects uniquely attributable to the brand—for example, when certain outcomes result from the marketing of a product or service because of its brand name that would not occur if the same product or service did not have that name.
There have been two general motivations for studying brand equity. One is a financially based motivation to estimate the value of a brand more precisely for accounting purposes (in terms of asset valuation for the balance sheet) or for merger, acquisition,
Kevin Lane Keller is Associate Professor of Marketing and Fletcher

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