The Relationship of Brand Equity and Brand Extension
Title
The Relationship of Brand Equity and Brand Extension: Low Involvement products vs. High Involvement Products
Background and Significance In the present, technology enhances modern goods production resulting producers can provide resemble products in physical aspects such as quality or packaging. These create no differentiate of products. Consequently, Product Brand as well as the customer’s perception is the significance that promotes product differentiates or product advantages. Marketing professionals and organizations focus with Brand and try to position their Brands into customer’s mind. That establishes the Brand Equity (Keller, 1998). “ Brand equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or that firm’s customers”(Aaker, 1996). Marketing Science Institute conducted the survey in fifty famous companies in the United States. As the survey, the main topic that was interesting to research is the Brand Equity. That means all successful organizations pay attention with the Brand Equity and prefer to support the budget for the well management of the existing Brand Equity. These organizations also realize that their brand equity eliminate the chance of using the price strategy. The price strategy may decrease the existing value of the brand equity. As the well management of brand equity, organizations attempt to gain the great marketing communication for creating their product differentiates. Additionally, the other researched topic in their interest is the estimation of Brand Equity (Keller, 1998). Brand Equity is the significant issue in the consideration of all organizations because it creates the brand loyalty that motivates product perception, increases the repeated buying behavior and elevates sales of other products from the same brand including prohibits any
The Relationship of Brand Equity and Brand Extension: Low Involvement products vs. High Involvement Products
Background and Significance In the present, technology enhances modern goods production resulting producers can provide resemble products in physical aspects such as quality or packaging. These create no differentiate of products. Consequently, Product Brand as well as the customer’s perception is the significance that promotes product differentiates or product advantages. Marketing professionals and organizations focus with Brand and try to position their Brands into customer’s mind. That establishes the Brand Equity (Keller, 1998). “ Brand equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or that firm’s customers”(Aaker, 1996). Marketing Science Institute conducted the survey in fifty famous companies in the United States. As the survey, the main topic that was interesting to research is the Brand Equity. That means all successful organizations pay attention with the Brand Equity and prefer to support the budget for the well management of the existing Brand Equity. These organizations also realize that their brand equity eliminate the chance of using the price strategy. The price strategy may decrease the existing value of the brand equity. As the well management of brand equity, organizations attempt to gain the great marketing communication for creating their product differentiates. Additionally, the other researched topic in their interest is the estimation of Brand Equity (Keller, 1998). Brand Equity is the significant issue in the consideration of all organizations because it creates the brand loyalty that motivates product perception, increases the repeated buying behavior and elevates sales of other products from the same brand including prohibits any
References: Aaker D.A. (1996). Building Strong Brands, The Free Press, New York Crainer, Stuart The real power of brands : making brands work for competitive Imprint London : FT Pitman, 1995 Descript 214 p Dhiti Butratana. (1998). THE MEASUREMENT OF BRAND EQUITY IN BEER CATEGORY Karat Latawan. (2000). CONSUMER-BASED BRAND EQUITY AND CONSUMER EVALUATION OF BRAND EXTENSION. Chulalongkorn University Keller, K.L. (1993) Conceptualizing, Measuring and Managing Customer-Based Brand Equity. Journal of Marketing 57, pp. 1–22. Narong Jiwangkul (1998), Brand is really about the customer relationship. BrandAge Magazine, Dec 7: p Piyawan Phumpho. (2000). BRAND LOYALTY, BRAND EXTENSION AND CONSUMER EVALUATION OF FACTORS AFFECTING BRAND EXTENSION. Varrinya Leelayuvat. (2000). MEASURING BRAND EQUITY FROM BRAND- CONSUMER RELATIONSHIP Graduate School. Major Master. Arts (Advertising)Tauber, EM, 1981. Brand franchise extensions: new products benefit from existing brand names. Bus Horiz 24 2, pp. 36–40 Tauber, EM, 1988