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Growing and sustaining brand equity
The nature of brand loyalty
Review of literature on brand image
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Recommended: Growing and sustaining brand equity
The third imperative trait of brand equity is perceived quality. As per D. Aaker (1991), perceived quality is the customer’s observation about the overall nature of the product. The recognition about the item quality is subjective and it is built by various learning of a similar product specification.
It is an essential characteristic for each brand; perceived quality characterizes a customer’s observation and the item's quality or predominance. The apparent quality gives crucial motivation to buy. It additionally impacts brand mix and exclusion to thought set before conclusive choice. A perceived quality gives more noteworthy valuable chance of charging a top notch cost. The premium raises benefit and gives a resource to reinvest in the brand. Perceived quality will empower a solid brand to augment further and will get a more noteworthy achievement plausibility than a powerless brand.
Perceived quality can exhibit better position in the market and make for the customer motivation to purchase while additional cost would not be considered as negative component. As indicated by M. Delong et al. (2004), perceived quality can be considered a
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Once in a while they would prefer not to take a risk by attempting to go for another brand. Perceived quality of a brand impacts the decision making process of a consumer. It also straightforwardly impacts the brand dedication of the purchasers. Perceived quality has a more prominent impact in a customer’s buying procedure and in brand loyalty. This impact is essential when customers are in a condition, which makes them not able to make an investigation of the quality. Perceived quality can be utilized as a helping tool when organization plans to use a valuing system with premium cost and further amplify a brand in a few markets. All customers are conscious about the item
Brand equity goes beyond the financial assets and profitability to incorporate the recognition and loyalty of customers toward the brand. Customers are trust familiar brands in a similar way that they trust people who they have known for a long period of time. This is because familiarity leads to a sense of comfort and emotional attachment that customers often opt to purchase a recognised brand rather than a less familiar brand although the generic product is essentially the same.
A customer’s response falls in two categories, judgment and feelings. Consumers are constantly making judgments about a brand. These judgments fall into four categories: quality, credibility, consideration, and superiority (Keller, 2001). Customers judge a brand based on its actual and perceived quality, and customers judge credibility using the perception of the company’s expertise, trustworthiness, and likability. To what extent is the brand seen as “competent, innovative, and a market leader,” “dependable and sensitive to the interest of customers,” and “fun, interesting, and worth spending time with” (Keller,
Quality is an important part of any business rather from a customer’s perspective or a producer’s perspective. Quality from a customer’s perspective is they “want value and quality has become a major factor in the value of products and service” (Russell & Taylor, 2013, pg. 53). “The customer is the most important part of the production line” (Russell & Taylor, 2013, pg. 53). This can be referred to as quality of design meaning “involves designing quality characteristics into a product or service” (Russell & Taylor, 2013, pg. 54). Now let’s look at the quality from a producer’s perspective. This can be referred to a quality of conformance meaning “making sure the product or service is produced according to design” (Russell & Taylor, 2013,
Maintenance and promotion of quality improvement initiatives are essential for the successful growth and development of the health care industry. Nurses are key to all quality improvement initiatives as they are in the frontlines and have the most contact with the healthcare consumers. Therefore, nursing professionals are good at putting in their valuable inputs for quality improvement efforts. On a daily basis nursing professionals strive to deliver safe, efficient, effective, patient-centered care in a timely manner. With the growth and development in the health care industry, there is an increased need to provide competent and high quality services. Nurses are equipped with distinctive proficiency required for delivery of patient care
The purpose of this study is to examine the influence of perceived quality, social influence and consumer traits
The research study focussed on analysing the customer perception of Titan SKINN. The research gives us an insight into what the customer percieves of the new brand, based on this the company can formulate strategies that can be adopted by them to build higher brand loyalty.There were various dimensions that were analysed,brand satisfaction and brand image, when have a relationships amongst each other within the minds of the customers form either a positive or a negative perception for the brand. The correlation was conducted between these dimensions for Titan SKINN. It was found out that there is a positive correlation between the dimensions. Each of the 2 dimension, is positively correlated
The literature shows that a recognised brand is often relied upon by consumers as a mean of
We commonly view quality as a physical property of our product and therefore see our task as producing a product that meets these physical characteristics.
Quality is Price - This is about how much the customer will pay for the product or service being provided.
The quality of the product that is being made is very important to a company whatever they are making. The higher the quality if a product the more the company can charge for that product. If the company makes a low quality product that is not very good people will not buy it, also if people can find a similar product at a lower price and higher quality they will buy that. When a business makes a product they must decide on the following things: · what is the lowest level of quality that is acceptable for the product? · who is responsible for the quality control · a method of quality control that will be used that dose not effect the cost to severally What is the BSI? The BSI (British Standards Insatiate) is responsible for setting standards that products must be made to.
The basic concept of perceived quality takes into account both the extrinsic and intrinsic features of the product. Customers’ knowledge about the product or the brand and his past experiences with it are important decision variables.
Secondly, some light has been thrown on the previous researches by various authors on the similar topics by providing with a summarised form of the same. It helps in better understanding of the ongoing concepts and perceptions on the concept of brand and its importance.
Most consumers save up to buy good products. A brand can only rationalize a price premium if it is view by its consumers to be profoundly different from the related products. Lack of value is what makes a market full of goods where people have no emotional connect with their buying. It is significant for the brand to recognize its consumers and their anticipations before it can provide the price premium and foster brand loyalty. A premium customer is the one who paid for higher price and then is justified in expecting top-notch product quality. To sustain that feeling of being meaningfully different from others is the challenge for premium
... easily spot inconsistencies as opposed to a tangible product where standardization makes it easier to assess different attributes and notice inconsistencies. The uniqueness factor of services which relates to its varying product definition also makes it difficult to measure quality because customers will not each get the exact same service due to various factors unlike when they purchase a product that has been produced through a standardized process e.g. when it comes to car insurance companies, a 22 year old female will not pay the same premium as a 45 year old male based on various factors and the company might respond quicker to smaller claims than they will to larger claims. Services also vary according to customer preferences therefore quality in the customer’s eyes can only be based on their expectations of services versus their experience of these services.
From those explanation of theories above, we can know that service quality is usually measured by how well the service delivery matches the customer's expectations. And once the service quality matches the customer’s expectations, it leads to customer loyalty.