A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model.
Customer- Based Brand Equity (CBBE) Model
Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms. Customer-base brand equity (CBBE) is a model that is being adopted by many organizations in order to build strong brands that can compete with the other ones in the market. The model outlines the four steps that should be followed in building a strong brand. The first step involves the establishment of appropriate brand identity, which includes enhancing customer awareness of the brand.
The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers. The third step involves invoking positive brand response while the fourth one involves engaging the customers so as to build a brand affiliation aimed at enhancing active brand loyalty. However, some building blocks are requ...
... middle of paper ...
...trustworthy or not. This narrows down to how the consumers view the expertise of the company in manufacturing this particular product. Therefore, the company should ensure that all the staff members are highly qualified so as to boost the confidence of the customers.
In conclusion, the customer- based brand equity model is an important platform that may help in building a strong brand. It could assist a company in assessing its progress as well as providing a blueprint for marketing research activities. If properly planned and implemented, it could help the company in achieving its marketing strategies and in the realization of an increased profit margin (Grover & Vriens 2006, p. 147).
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future advances, Sage Publisher, California.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Brand Exploratory A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand.... [tags: Marketing]
1334 words (3.8 pages)
- A brands main goal is to build a relationship amongst each individual customer. This means the customers should have a psychological and deep emotional connection with the brand. A term used for this is brand resonance. Brand resonance as defined in lecture is a brand that emotionally connects to the customer by embedding in the routine and enhancing the experience of its users. By achieving brand resonance the brand must achieve the following three categories: behavioral loyalty, sense of community and active engagement.... [tags: Brand, Customer, Brand management]
1158 words (3.3 pages)
- ... This model pinpoints 4 main aspects of brand equity (+ 1 supporting as-pect), which shows to what extent strong brand influences buyers product and brand evalua-tions. For every brand category, the COO of the brand has a significant effect on the brand equity (Saydan, 2013). There are also a number of micro-related predictions that follow the conceptualisation of this particular type of equity as a four-dimensional construct. 126.96.36.199 Brand Loyalty Aaker (1991) have said that brand loyalty brings loads of benefits to the company such as: companies can invest less into advertising (as loyal customers doesn’t need a reminder about the company) and companies have more time to respond to comp... [tags: Brand, Brand management, Branding, Brand loyalty]
1073 words (3.1 pages)
- Introduction When speaker Brené Brown was about to give a talk, the event coordinator struggled with calling her a “researcher,” saying that people might not want to come because they would think she was “boring and irrelevant.” Instead, she wanted to call her a “storyteller” since she thought Brene´Brown’s story-telling abilities were a highpoint. Brown’s academic insecurity was not satisfied in simply being called a “storyteller.” She decided her qualitative research was, in actuality, collecting stories and concluded, stories, were “data with a soul.” She then embraced the title “Researcher-Story-teller,” which combined her unique abilities (Brown, 2010).... [tags: Brand management, Brand, Communication]
885 words (2.5 pages)
- Marketers assert to develop branding and packaging strategies that signify the brand’s products in a way that establishes lasting impressions in consumers’ thoughts. Because brands distinguish the many product offerings in the marketplace, brands help consumers choose between product offerings. When branding and packaging strategies clearly illustrate worthy product expectations, and products remain true to branding messages, positive consumer perceptions ensue, and brand value is strengthened. While branding activity is a long-term exercise, it creates long-term value through obtaining customer loyalty (Boundless, 2015); and Dove brand has accomplished just that.... [tags: Brand, Brand management, Branding, Brand equity]
994 words (2.8 pages)
- ... (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), 15-27. Research shows that branded social campaigns provide additional insights to encourage ongoing interaction between the consumer and the brand, which can deepen consumer and brand relationships and persuade consumers to engage with online content. The research conduct this study to explore the use of creative strategies in brand-sponsored social media efforts.... [tags: Brand, Advertising, Marketing, Social media]
1425 words (4.1 pages)
- ... According to the interviews, traditional Argan oil distributors are available, however, they cannot deliver the perception of reliability possibly due to packaging, and store appearance (Appendix 3 and 4). Packaging plays a crucial role in branding (Kernan et al., 2006), therefore, to establish a firm foundation as a brand in Vietnam. An interviewee has discussed that Argan oil can improve their labeling by displaying beneficial properties of Argan oil and warning labels which also it increases the reliability of the product (see appendix 15).... [tags: Customer service, Brand, Brand management]
1658 words (4.7 pages)
- In almost every industry, brand as a representative symbol that is known by customers to classify various product characteristics in life or business, and the use of the corresponding product that the customers need especially when the brand loyalty comes into the customers’ mind. However, a few people really understand the meaning of a ‘brand’. A definition of a brand referred by Feldwick, which can be a collection of perceptions in the mind of a customer. In other words, if a brand is a collection of perceptions, as such it could be said logically that brand management is perception management.... [tags: Brand, Brand management, Branding, Perception]
966 words (2.8 pages)
- As the wheels creep into the clearly marked parking spot, my foot presses the brake pedal, which brings my truck to a stop. I reach up to the handle on the steering console and place the vehicle in park. I grab the black gym bag that is lying on the passenger seat as I open the driver side door to exit. I step out and close the door. I don’t notice that my tank top has snagged the seatbelt and is caught as I jump down and out. Damn, now I’m standing there in a ripped shirt, needing a new one. As I start thinking about this new need of mine, a few things cross my mind.... [tags: Brand management, Brand, Advertising, Branding]
1265 words (3.6 pages)
- Alarming Side Effects of Artificial Sweeteners NutraSweet, Equal, Spoonful, and Equal-Measure are all brand names for aspartame, a low calorie sugar substitute used in more than 90 countries to sweeten foods and beverages. Aspartame is a synthetic chemical that is created through the combination of the amino acids phenylalanine and aspartic acid, and a small amount of methanol. Aspartame can be found in several products, such as soft drinks, over-the counter drugs, vitamin and herb supplements, instant breakfasts, candy, breath mints, cereals, sugar-free chewing gum, coffee, juice, and tea beverages, tabletop sweeteners, and gelatin desserts.... [tags: Exploratory Essays Research Papers]
1090 words (3.1 pages)
- Honoring Pearl Harbor
- Analysis of Kurt Cobain
- Cloud Computing and Internal Controls
- Open Up and Bleed, by Paul Trynka, Lullaby, by Chuck Palahniuk, and The Catcher in the Rye, by J.D. Salinger
- Cry, the Beloved Country, by Alan Paton and Things Fall Apart, by Chinua Achebe
- Democracy Roots in Colonial America