final BRAND EQUITY ASSIGNMENT
UNILIVER BRAND EQUITY
Strategic Brand Management Assignment
Student ID:
Table of Contents
I/ INTRODUCTION 2
II/ Definition of brand equity 2
III/ BUIDING BRAND EQUITY 2
IV/ CUSTOMER BASED BRAND EQUITY 4
V/ BENEFITS OF BRAND EQUITY 5
V / CONCLUSION 6
APPENDICES 7
REFERENCES 10
I/ INTRODUCTION
Brand equity is one of the important ideas in brand management, marketing, in business practice or academic research. Improving and properly creating brand equity has been focused problem for most organizations. Nowadays, there are many famous companies had developed with their own well-known brands. Unilever is one of the famous companies who used different types of branding (marketing) strategies in order to build its awareness in the mind of consumer. This essay will discuss in details of the customer based brand equity as well as different marketing strategies adopted by Unilever’s product, Lux in order to build its brand equity.
II/ Definition of brand equity
Until the late 1980s, the idea that the brand adds value to a product has been used to find out the actual value of the assets of a company. Kapferer (1998) suggests that changes occur in the business with large wave of mergers and acquisitions among larger companies with established brand followed by the development of information technology and globalization. These activities led to the formation of brand equity. Brondoni (2001) defines brand value as "an intangible asset of the company based on the knowledge of a particular brand in a market". As brand equity is dynamic in nature and subject to change, its impact over time to be monitored measured value of the brand. Thus, brand equity represents the results in response to actions taken by a company to its target market to establish their identity. The economic value of brand equity depends on the understanding of perception and image, and determines brand awareness which in turn related to demand loyalty and customer satisfaction. The other way to
Strategic Brand Management Assignment
Student ID:
Table of Contents
I/ INTRODUCTION 2
II/ Definition of brand equity 2
III/ BUIDING BRAND EQUITY 2
IV/ CUSTOMER BASED BRAND EQUITY 4
V/ BENEFITS OF BRAND EQUITY 5
V / CONCLUSION 6
APPENDICES 7
REFERENCES 10
I/ INTRODUCTION
Brand equity is one of the important ideas in brand management, marketing, in business practice or academic research. Improving and properly creating brand equity has been focused problem for most organizations. Nowadays, there are many famous companies had developed with their own well-known brands. Unilever is one of the famous companies who used different types of branding (marketing) strategies in order to build its awareness in the mind of consumer. This essay will discuss in details of the customer based brand equity as well as different marketing strategies adopted by Unilever’s product, Lux in order to build its brand equity.
II/ Definition of brand equity
Until the late 1980s, the idea that the brand adds value to a product has been used to find out the actual value of the assets of a company. Kapferer (1998) suggests that changes occur in the business with large wave of mergers and acquisitions among larger companies with established brand followed by the development of information technology and globalization. These activities led to the formation of brand equity. Brondoni (2001) defines brand value as "an intangible asset of the company based on the knowledge of a particular brand in a market". As brand equity is dynamic in nature and subject to change, its impact over time to be monitored measured value of the brand. Thus, brand equity represents the results in response to actions taken by a company to its target market to establish their identity. The economic value of brand equity depends on the understanding of perception and image, and determines brand awareness which in turn related to demand loyalty and customer satisfaction. The other way to
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