Reflections on Customer Based Brand Equity †MyAssignmenthelp.com

Question: Discuss about the Reflections on Customer Based Brand Equity. Answer: Introduction: Strong brand position is the desire of every organization. There is numerous aspects influence the potency of a particular brand or product. To recognize these aspects, it is required for the company or organization to know about the procedure for launching the product. Keller's Brand Equity Model is also known as the Customer-Based Brand Equity (CBBE) Model. The expansion of CBBE was driven by majorly three aims. The concept of this model is to generate the strongest brand in which company can get to know that how will customer feel and think about product. Latrobe university campus brand is the well known university that would carry the education to the northern suburbs of Melbourne (LaTrobe University, 2017). There are four steps of brand building that is considered as the brand building block. Brand identity, brand meaning, brand responses and brand relationship are the major component of the brand building as per the CBBE Model. Each step of this model is reliant upon the flourishing achievement of the earlier step. All steps of model include achieving definite purpose with customers both existing and potential. Brand identity Obtaining the correct brand identity include creating brand salience. It refers to various customer awareness of brand. Brand consciousness relates to the ability of the client to recall and recognize a brand. Brand awareness is above than a fact that consumers know a name of brand. Brand awareness can be separated into two terms such as intensity and width. Intensity of awareness of brand shows the recognition and recalling of products by customer. width of the brand awareness refers to the array of situation of consumption and purchase in which brand takes place in the mind of customer. Latrobe University needs to maintain the brand identity in the view of students. By providing efficient services to the students, it would be able for it to make aware them about the brand identity and its features before choosing any other university. width is an frequently abandoned reflection for brands. The major question many brand is, when do they think of the brand rather than where do they t hink of the brand? To enhance the brand salience in those settings can be attractive refers to drive consumption and amplify the volume of sales (Huang and Cai, 2015). For instance, Latrobe university campus should provide the efficient services regarding courses to the student so that they think about the university on prior basis when they think about further studies. It is an important element of building brand equity which includes establishing a brand image. Brand meaning can be divided into various terms such as performance related consideration, functional and imagery related consideration (Keller, 2016). Thus, brand meaning can be defined into two key terms such as brand performance and brand imagery. The product is considered as the heart of brand equity because it has the prior effect of what customer understanding with a brand and what the decision can say customers about the brand in their conversation. It is important for the university to meet at least the customer experience with the product. Brand presentation refers to the way in which the service or product able to meet the purposeful need of customers. Customers are free to analyze the presentation of product or service in a wide manner. Reliability defines the consistency of performance over time. Durability explains the expected economic life of the project. Serviceability refers to the compatibility of servicing the product. Thus, speed, accuracy and care all major factors which impact the performance of the product. Brand imagery Brand imagery is liable to deal with the extrinsic properties which are able to meet the social and psychological needs of customer. Brand imagery relate to more insubstantial factors of the brand. It involves the kind of a person or organization who uses the brand and they categorized as per psycho-graphic and demographic factors. The Purchase and uses situation comes under the second set of association which defines the brand should be brought and used. It would be challengeable position for the university to create strong, unit association but it is vital to build CBBE (ifci, Ekinci, Whyatt, Japutra, Molinillo, and Siala, 2016). University can define itself to provide the efficient services of courses to the student which should be on reliable basis. Brand response defines the behaviour and attitude of the customer towards the activity of the product and services. La Trobe University is the well known university that is why sue to its best education and various courses are able to attract the student towards it. Brand judgment includes personal opinion and evaluation of the customer regard to the brand. Customers are able to make various kind of judgment regarding the brand. There are 4 types of brand judgment are considered to create a strong brand, such as brand quality, brand consideration, brand credibility and brand superiority. Although there are various kind of response from customer are likely, eventually what matters is how positive these responses are. The responses of student of La Trobe University can enhance the interest of others effectively. It is essential that they are willingly from to mind while thinking about the brand. The judgment and feelings of brand can effectively influence the behaviour of consumer only if customers thing affirmative response in the encounters with the brand (Bianchi, Pike, and Lings, 2014). It is a last step of the CBBE model which focus upon the effective relationship and level of recognition that the customer has with the brand. Brand resonance can be distinguished into 4 groups that is behavioral devotion, attitudinal attachment, send of community and active engagement. Behavioral devotion defines the attitude of customer of repeating purchases and the amount in the category of volume attributed to the brand. Attitudinal attachment defines the love of customer for the product and services which is simply having an affirmative attitude to show the brand as being something is special in a wider context. The clients of university if happy with the services of La Trobe university, it will be helpful for increasing the demand of course of education from student and due to effective education student can approach this university from all over the world. The brand might also obtain on wider significance to the client in terms of logic of community (Darabi, Reeves and Sahade v, 2014). Actively engagement is there when clients are ready to invest time and money into the brand. References Bianchi, C., Pike, S. and Lings, I., 2014, Investigating attitudes towards three South American destinations in an emerging long haul market using a model of consumer-based brand equity (CBBE), Tourism Management,42, pp.215-223. Chekalina, T., Fuchs, M. and Lexhagen, M., 2014, A value co-creation perspective on Customer-Based Brand Equity Model for Tourism Destinations: A Case from Sweden,Finnish Journal of Tourism Research (Matkailututkimus),10(1), pp.8-24. ifci, S., Ekinci, Y., Whyatt, G., Japutra, A., Molinillo, S. and Siala, H., 2016, A cross validation of Consumer-Based Brand Equity models: Driving customer equity in retail brands, Journal of Business Research,69(9), pp.3740-3747. Darabi, M., Reeves, P. and Sahadev, S., 2014, The relationship between SMS/MMS marketing and consumer based brand equity (CBBE)A review and conceptualization,Academy of Marketing. Huang, Z. J. and Cai, L. A., 2015, Modeling consumer-based brand equity for multinational hotel brandsWhen hosts become guests, Tourism Management,46, pp.431-443. Keller, K.L., 2016, Reflections on customer-based brand equity: perspectives, progress, and priorities,AMS review,6(1-2), pp.1-16. LaTrobe University, 2017, LaTrobe University, Retrieved on 8th October, 2017, from: https://www.latrobe.edu.au/about/vision/introduction. Selase Asamoah, E., 2014, Customer based brand equity (CBBE) and the competitive performance of SMEs in Ghana,Journal of Small Business and Enterprise Development,21(1), pp.117-131.