The big challenge for marketers is to ensure that customers have the right type of experiences with their products and services. In order to do this, marketers must evolve marketing programs in way that best fit into customers’ mind and linked the brand to the desire customers’ feelings, thoughts, actions and beliefs. So that customer-based brand equity Is defined as, the differential effect that brand knowledge has on consumer response to the marketing of that brand. Customer-Based Brand Equity Pyramid Brand Salience: It’s means broad awareness of the brand.
The first step In building a brand equity Is the brand awareness that contains two parts; brand recognition (how easily customer identify a brand after exposing some cue or a physical product) and brand call (how easily customer recall the brand without showing a cue while making purchase decision or thinking the product category). We must consider both the breadth and depth of the brand awareness; the depth is that how likely it is for a brand element to come to mind and a breadth is the range of purchase and the situations in which the brand comes to mind of the consumers.
A brand we easily recall has a deeper level of brand awareness and breadth is related to the product knowledge in the memory of the consumer. So companies must consider or develop the product category structure for the brand or product hierarchy because customers always make a healthcare deciles while purchasing some product or service, the first thing comes his/her mind Is the product category then he/she goes further. So it is very important that consumers consider our brand in their desired Brand performance: It is describes how well the product or service meets customers’ more functional needs.
Brand performance directly related with the features of the product that differentiate it from others. Often, the strongest brand positioning relies on performance advantages of the brand. Five important types of attributes and benefits often underlie brand performance, as follows. . Primary ingredients and supplementary features 2. Product reliability, durability, and serviceability 3. Service effectiveness, efficiency, and empathy 4. Style and design 5.
Price Customers view performance or measure performance in three ways: Reliability; measures consistency of performance over time and from purchase to purchase, Durability; means the expected economic life of the product, and Serviceability; the ease of repairing the product if needed. Brand Imagery: It is the second part of brand meaning and also called the emotions part of brand meaning (Brand performance is the logic part). It mainly depends on the intrinsic properties of the product or service, including the way how well the brand attempts to meet the customers’ psychological or social needs.
Imagery refers to more intangible aspects of the brand, and customers can form imagery associations directly from their own experiences or through advertising or some other spruce of information indirectly. Intangible aspects of the brand are as: ; User profiles Purchase and usage situation Personality and values History, heritage and experiences Demographics factors (gender, age, race, income, family) affect the first two types of aspects while physiographic affect on the personality and values.
Brand Jud]aments: It is the third stage of the CUBE model which as also two parts or routes; brand statement and brand feelings. Brand Jud]aments are customers’ personal opinions about and evaluations of the brand, which customers form by putting together all the different brand performance and imagery associations. Customers usually make four types of Judgments as: ; Brand Quality; brand attitudes generally depend on specific attributes and benefits of the brand. Brand Credibility; Judgments about the company or organization behind the brand.
Customers may seen that whether the brand is competitive, innovative and market leader. The company always consider customers’ priorities in mind and create interest and fun so that customers enjoying while consuming the brand. Brand Consideration; customers think or consider the brand while making purchase decisions. Brand Feelings: These are customers’ emotional responses and reactions to the brand. The emotions evoked by a brand can become so strongly associated that they are accessible during product consumption or use.
The following are six important types of brand-building feelings. ; Warmth; the brand sakes consumers feel a sense of calm or peacefulness. Fun; makes consumers feel amused, lighthearted, Joyous, playful, cheerful, and so on. Excitement; makes consumers feel energies and they feel something special. Security; the brand produces a feeling of safety, comfort, and self-assurance. Social approval; consumers feel that others look favorably on their experience, behavior and so on.
Self-respect; consumers feel a sense of pride, accomplishment, or fulfillment. Brand Resonance: The final step of the model focuses on the ultimate relationship and level of the identification that the customer has with the brand. Brand resonance describes the nature of the relationship. ; Behavior loyalty; in terms of repeat purchase and the amount or share of category volume attributed to the brand. Attitudinal attachment; customers should go beyond having a positive attitude to viewing the brand as something special in a broader context.
Sense of community; customers feel kinship or affiliation with other people associated with the brand. Active engagement; brand loyalty occurs when customers are engaged, or willing to invest time, energy, money or other resources in the brand beyond those expended during purchase or consumption of the brand. Consumers while making purchasing decisions or choosing the brand, always use between two approaches or listen the brain (make the decision) in two ways: ; Cognitive-based approach (logics) Affective-based approach (feelings) If we look the above fig.
CUBE pyramid, we have seen that there are two paths or ways from brand salience to brand resonance and consumer always choose one from them. Cognitive-based approach Brand salience – Brand performance – Brand Judgments – Brand resonance Consumers mainly focus on the performance of the brand and give importance to the features and benefits of the brand (tangible parts) while making decisions. So marketers must consider the needs of customers who uses this approach while developing brands.
Examples: Halley (Saab SE Garth Dodd), (chic banyan chub) company focuses on the features and benefits of the brand. Mobile brands, focus on attributes and features mainly Highest products that must demonstrate features by the company Affective-based approach Brand salience – Brand imagery – Brand feelings – Brand resonance Consumers more focus or interested in intangible aspects of the brand and attach the brand and develop feelings from their experiences. Marketers must focus on intangible aspects of the brand if they plan to touch/play with the emotions of consumers.
Coca-Cola uses the emotional approach while attracting consumers and so successful that it has capture the first position in the top brands’ ranking of the world and has brand equity about 67 billion dollars. Serf Axel (adage nah TU seeking nah), (adage TU achy hotly Hahn) touches the emotions of the customers by developing campaigns that contain fun, excitement and ability to do something new. Supreme tea ( yah TU ha woo pan pun) communicates the family bonding Dew (dew an aka TU par aka Jiao) creates excitement (Kara garner kiwi bypass)
