Understand the Models of Brand Equity at Myhomeworkhelp.Com
Everyone knows a number of brands that are widely recognizable. As consumers, we tend to go for certain brands over others. Brand Equity Models Homework Help is an online platform for all the students who need help with their Marketing assignments. Now before going to the models, you first need to know what Brand equity stands for.
What is the meaning of Brand Equity?
Brand equity is a widely used term in Marketing that defines a brand’s value. This means that it is the value of a brand as perceived by the consumers as other generic products. By using the assistance of Brand Equity Models Homework Help, you will be able to understand the topic as well as the models better.
Brand Equity Models
These are the models used by businesses to ascertain their product’s brand equity by studying various features and understanding the importance. When a product has strong brand equity, the business will see more sales and at the same time gain more loyal customers. Therefore, the 4 different brand equity models that you can learn from Brand Equity Models Assignment Help are:
Brand Asset Valuator Model
This model was brought forward by the advertising agency Young and Rubicam. Here the value of a brand can be measured with the help its brand vitality and brand stature. Brand vitality includes differentiation and relevance, while Brand stature includes esteem and knowledge. All of these together ascertain the true value of a brand as perceived by the consumers.
Aaker Model
It was developed by David A. Aaker. According to this model, the brand equity is a combination of the awareness, loyalty, associations with the perceived quality. This means it consists of all the elements that are used in developing a product to show the consumers what the brand truly stands for.
BrandZ Model
This model was framed by Millward Brown and WPP. As per this theory, brand building involves certain steps and predisposes consumers to choose a particular brand. The steps in ascending order are:
- Presence- Do you know about it?
- Relevance- How is it helpful for you?
- Performance- Can you trust it?
- Advantage- How is it better than its competitors?
- Bonding- This is the best Brand.
Keller’s Model
This model was developed by Kevin Lane Keller which shows that in order to make a brand name strong, a business needs to build its reputation among its customers. The model is in the form of a pyramid divided into 4 levels.
- Identity: Who are you?
- Meaning: What are you?
- Response: What about you?
- Relationships: What about you and me?
These four levels consist of six emotions of customers which the business needs to follow to ensure that it has strong brand equity.
At myhomeworkhelp.com, you will receive the guidance of experts and be able to understand the Models of brand equity in a better way. The teachers use examples to make it easier for the student to understand the concepts.
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