Brand Awareness
Branding is “a bundle of attributes that combine together to create a recognisable personality that can help communicate those attributes to the consumer. A brand has one strategic purpose and that is to differentiate itself from competitors ” – CIM 2007
Brand Equity is “a set of assets and liabilities linked to a brand, its name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or to that firm’s customers” Aaker (1991)
Awareness measures are used extensively in research as a gauge of brand performance and marketing effectiveness. The most commonly used are those relating to brand and advertising awareness. Brand awareness is considered one of the key pillars of a brand’s consumer-based
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(Keller, 2009)
◦ With CBBE model strongest brand excel in all 6 of the brand building block therefore to be successful brands can use this. (Keller, 2001)
◦ Brands that are able to achieve resonance and affinity with customers reap a host of valuable benefits such as greater price premiums, and more efficient marketing programs.
To create brand resonance, marketers must first create a foundation on which resonance can be built.
Now we would like to focus on creating brand awareness for strategic e-game Chase rase.
Competitive gaming as a place to focus your marketing is totally sound and backed by consumer behavior data. Sure, competitive gaming is mostly a marketing strategy, and not yet a big revenue driver but it is tied together with experience, which always ends up being a core driver for brands and products. It is quite important for Chase race by launching the e-game and set this expectation if your brand is thinking about entering the
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
Moving up the pyramid, the next level includes brand meaning – what are you? This incorporates performance and imagery. The product itself is at the heart of brand equity, and designing and delivering a product that satisfies the consumers’ needs and wants is crucial for successful marketing. In order to reach resonance at the top of the pyramid, the product must (at least) meet, if not surpass, customer expectations and functional needs. The goal here is to identify and communicate brand meaning. Performance dimensions consists of five categories: primary characteristics and supplementary features; product reliability, durability and serviceability; service effectiveness, efficiency and empathy; style and design; and
A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Products and services have become so alike that they fail to distinguish themselves by their quality, efficacy, reliability assurance and care.
...s SLK obviously clarifies how essentialness of recognition is important for a brand. In Oman how many number of consumers are eager to spend 15,000 O.R to purchase a Toyota SUV? Not that many. Anyhow many individuals might pay 15,000 O.R for Lexus SLK if it was available at that rate. Interestingly the recognition of Toyota are conservative, competitive, and common sense. However the Lexus is an image of extravagance, prevalent quality, and tastefulness. In this manner the insightful progressions of individuals' brain and perspective of brand quality influence the purchase decision making. One average sample of sensor promoting, might be Lexus with their strap line, 'The loudest sound you hear inside the Lexus is yourself considering'. It is locked in to shopper's sound sense, communication of the buyer remains in hush to test how tranquil a Lexus motor truly is.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
Companies use a collection of brand equities to represent their products in the market (Voolnes, 2012). Brand equity refers to the commercial value that is derived from the perception of consumers on any given brand name of particular products in the market as opposed to the product itself. Ataman (2003) notes that the effect to the consumer is in the brand name and not the product itself. Companies use logos, trademarks and a collection of other symbols to present this information to the customers. The use of these symbols is meant to try and capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market.
Tanner and Raymond (2014) describe branding activity as “strategies that are designed to create an image and position in the consumers’ minds” (c.6). When branding messages coincide with its offerings’ characteristics, it establishes consumer trust, and brand strength. For example, when first introducing Dove brand in 1957, by labeling its product as a “beauty cleansing bar . . . [with] ¼ moisturizing cream, that rinses cleaner than soap” (Unilever, 2016), we can see that marketers associated the brand to moisturizing and beauty, and disassociated the brand from common soap. Over the years, this consistent message coinciding with product performance has strengthened the Dove brand. Strong brand equity is derived from consistent, strategic branding that establishes perceived quality and emotional attachment (Entrepreneur, 2016); therefore, consumers are more likely to pay higher prices, as well as purchase new offerings connected to the
In the past decade companies are starting to see their brand assets, and with this branding has taken on a greater significance. So today brands are more than just marketing slogans and logos. All businesses are building their brands through certain actions and in their actual presence they find a 'position' in the mind of consumer and prospects. This is based on experience and exposure of the brand in the competitive marketplace. There are certain advantages to take into account in a Brand Strategy;
The review of relevant literature is to identify what's brand awareness and how to carry out in strategic marketing, and consumers' behavior. The study prove that the significant factors on brand awareness as a perception of product, service, and image of the company and has a tremendous effect on consumers’ evaluation of system results. From reading all of the relevant journals, it is understandable that the significant factors on building a successful brand image and awareness is consumers and their relationship with the brand, company, service and the product. Brand awareness is the vital importance to marketing strategy and marketing communications because it links customer behavior to firms’ financial metric. Keller (2001), noted, customers’ reaction toward brand awareness is associated profitably brand equity.
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
By communicating a new value proposition, brand management aims to change the brand’s former brand percep-tion and link the new brand image to the new position. Of course, also within re-positioning, new attributes have to demonstrate points of difference and superi-ority. By emphasizing the brand’s uniqueness, management enables the cus-tomer to perceive higher brand value in their mind (cf. Friis 2009, p. 19). If the brand elements are not relevant for the target audience or the brand proposition was not chosen correctly, brand identity will not be perceived as credible and communication will fail. Therefore, companies have to analyse their target groups accurately before choosing new attributes, which they want to communicate. Management has to find out what are the target audience’s needs, wants and desires and what do they believe in. The organizations values should in best case overlap with the values of the audience. New brand attributes have to follow specific communication objectives, which are focussed on changing the custom-ers’ perception (cf. Feddersen 2013, p.
“Linked to a brand, its name is the symbol that adds to or subtract from the value provided by a product or service.” (Aeler, 1991) Like country of origin, brand equity is also one of the reasons why some people want to have a well-known brands in the whole world. Sometimes it is not all about the price anymore because in today’s generation brand is more important than
Brand is the name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of others. Initially, Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol, and was subsequently used in business, marketing, and advertising.
From the study it is clear that people often purchase branded products since they are aware of the brand performance or perhaps they have a good past experience about the brands. This makes customer’s become loyal with the specific brand.