StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Measuring and Managing Brand Equity - Essay Example

Comments (0) Cite this document
Summary
The current paper highlights that the car industry is permanently in search of innovations. It is also in the business of upgrading its older models into better and more modern versions that will appeal both to loyal buyers of their brand and potential buyers…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.5% of users find it useful
Measuring and Managing Brand Equity
Read TextPreview

Extract of sample "Measuring and Managing Brand Equity"

Download file to see previous pages The car is part of the image of the customer just as clothes and other personal effects are. In order to market cars, therefore, a car company will do well to remember this. They need to have an edge over other comporting brands in their category and they need to come out at the top.
This is what makes the car sell at premium prices. The Rolls-Royce, for example, sells durability as well as heritage. It has withstood the durability test with seventy-five percent of all its manufactured cars still performing wonderfully and still on the road. Those that cannot keep up with that kind of reputation can sell themselves through associating with dominant world-class racing teams. Then others like the BMW and Mercedes can maintain its class, which is niche marketing by adding superior interior finishing is such as hand-polished wood. There is no car that can afford not to invest in top of the art technology any more if they wish to sell. The dashboard and entertainment system needs to be of the very best quality no matter the brand of car. There should be no qualms about selling the status symbol of a car because this is a form of marketing(Linneman, 1991, p. 230). This kind of marketing appeals to those who want to make a statement about status. The car is a symbol of prosperity to such a market and luxury to them is well worth paying for
Therefore, moving up-market through selling premium cars can be a great business strategy. However, for those businesses looking into entering the market or into diversifying their already existing line of vehicles then the most techniques that work at selling cars at higher price points will require somewhat different marketing approaches. The selling of cheaper vehicles needs to extol all the added benefits and functionalities whereas for a high-end car brand the marketing needs to elaborate on the quality of the car, and by extension the image of the person buying it.
The marketing materials need to show off the quality of the car clearly.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Measuring and Managing Brand Equity Essay Example | Topics and Well Written Essays - 1595 words, n.d.)
Measuring and Managing Brand Equity Essay Example | Topics and Well Written Essays - 1595 words. Retrieved from https://studentshare.org/management/1663290-nikeadidas-or-chevyhonda-or-ashleyikea
(Measuring and Managing Brand Equity Essay Example | Topics and Well Written Essays - 1595 Words)
Measuring and Managing Brand Equity Essay Example | Topics and Well Written Essays - 1595 Words. https://studentshare.org/management/1663290-nikeadidas-or-chevyhonda-or-ashleyikea.
“Measuring and Managing Brand Equity Essay Example | Topics and Well Written Essays - 1595 Words”, n.d. https://studentshare.org/management/1663290-nikeadidas-or-chevyhonda-or-ashleyikea.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Measuring and Managing Brand Equity

Rebuilding Brand Equity of Nokia

...at Nokia, has been promulgating Nokia’s repositioning of itself as a ‘challenger’ brand (Schechner, 2013). She says that after letting go of the ‘market leader’ narrative, the company’s senior management now looks to challenge the current market leaders by promoting in the public what is different, innovative and fresh about Nokia’s products in comparison with those of the market leaders. She says that the executive management now focuses on “Why do people want this? Not ‘Why does Nokia think this is best’”. She says that the company is changing and refining the metrics it uses to measure its performance in the market. For instance, in order to measure...
4 Pages(1000 words)Essay

Brand Equity: Case Study

...has an influence which, in any organisation, extends well beyond its usual functional boundaries. Thus, the fundamental strategies of the business are conceived of and accomplished on the basis of market needs, forces, and opportunities. The markets for the Crush become the major thrust in planning, directing, and organising business operations. The company should recognise that marketing's responsibilities beyond the profit motive and its contributions to human and public welfare are included. References Cadbury Beverages, Inc. Crush® Brand. Case Study. David Aaker, (2001). Managing Brand Equity, New York: Free Press. Esch, A. et al. (2006). Are...
5 Pages(1250 words)Essay

Brand Equity

...experience, and levels of trust and commitment, through contact with suppliers. Because, in most industries, choices are so readily available, customers are increasingly less hesitant to change suppliers. When replacement is perceived as more positive than negative, they'll move on. Industries such as banking and managed care have seen this occur (see appendix 2). This must translate to positive relationships and contacts, earning and keeping customer loyalty (Crawford 2003). "This perspective on brand equity focuses on the impact on consumer utility of a brand's signal credibility, rather than on the mere clarity of the provided information" (Swait 1998, p. 7) For...
4 Pages(1000 words)Essay

CHANEL - Brand Equity, Brand Positioning, Brand strategy

...Running Head: Brand Equity, Positioning, and Strategy of Chanel Brand Equity, Positioning, and Strategy of Chanel [Institute’s Brand Equity, Positioning, and Strategy of Chanel Introduction Without any doubts, everywhere we go, thousands and thousands of barnds from all possible directions surround us. In fact, every brand, even if it only seems to be a simple name or tagline, possess a history, a story, and a lifecycle. Even brand seems to have a lifecycle, very similar to product life cycle (PLC). Brands that were in the front line in the past and had ruled the scene once are there...
5 Pages(1250 words)Essay

Zara Brand Equity and Brand Positioning

...Brand equity is the intangible asset that the consumer associates with a product. We can determine it through financial impact of the product, brand extensions and consumer attitude. Zara garments were not designed and manufactured to be highly durable or classic clothes that would always be in style. They are described as ‘clothes to be worn ten times’ and yet they contributed more than 70% of the Inditex group sales. This is a vital statistic considering that Inditex group owns seven other fashion brands. With regards to brand extensions the Zara brand was successfully used to launch Zara Home in 2003. Zara Home was well received and has grown internationally to have a presence in 23 countries and 250 stores (Matassa, 2008... )....
6 Pages(1500 words)Essay

Brand Equity

...Brand Equity of the of the Brand Equity Q. Identify a specific brand that has developed a high level of brand equity. Inyour opinion, what particular aspects of that brand have helped establish its equity? Introduction Success in marketing today very much depends on an eclectic mix of new and repeat customers. In fact it is the repeat or returning customers that form the base of the business. However as they presumably cannot or do not return every day of the week, the gap will duly be filled by new customers entering the fold. Brand equity refers to the positive image and pleasant associations that a particular brand has in the mind of the consumer. Brand equity is a measure of brand loyalty, which in turn is caused by quality... and...
2 Pages(500 words)Essay

Jaguar brand equity charter

...? The resources used to complete the section on the charter include; use of comparison resources such as cartoon and photos. In addition, task completion resources were utilized whereby, customers views may be obtained by providing them with some bubble games to feel in and interpretation were made thereafter (Kotler, Philip, Waldemar and Ines, p.15). 4.What is the purpose of the brand equity charter and who may use the charter? The purpose of brand charter is to determine the long term marketing strategies that may be adopted by Jaguar Company to reinforce its brand equity in the automobile industry. The charter may be used by marketing executives to...
1 Pages(250 words)Assignment

Brand equity for Sandro

...marketing campaign covering social media, online store, blogs and online magazines in order to increase online presence. This is accompanied by increasing brand awareness through sponsorship of sports events. Through ensuring large customer base, this strategy has made the brand operation a success story among its competitors. Carrying out brand awareness has ensured that the brand remains known to the customers thereby increasing customer loyalty (Glynn, 2009, 987). Bibliography Kapferer, J.-N. (2012). The new strategic brand management: Advanced insights and strategic thinking. London: Kogan Page. Kapferer, J.-N. (2000). Strategic...
2 Pages(500 words)Speech or Presentation

Pricing and Brand Equity

...non-normative strategies without consumer permission. Moreover, apart from the inferential mechanism underpinning this licensing impact, innovative brands not only escape the penalty associated with using a categorical strategies, but also gain for using such strategies (Barone and Jewell 2013). One popular measure of success for brands of business entities is the customer-based brand equity. It is an asset that can be a background for a competitive edge and the long-term profitability of a business enterprise (Barone and Jewell 2013). Brand equity regards stakeholders’ response to the marketing efforts concerning...
1 Pages(250 words)Assignment

Creating Brand Equity

...Creating Brand Equity This chapter addresses the following questions: 1. Explain the importance of branding and brand equity. 2. How do companies build brand equity? 3. How can brand equity be measured and managed? 4. How do firms’ device a branding strategy? 5. How can brand equity be related to customer equity? Summary of Chapter: This chapter as the name suggests deals with the importance of creating Brand Equity for companies and the effects of...
12 Pages(3000 words)Book Report/Review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Measuring and Managing Brand Equity for FREE!

Contact Us