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Brand Equity Marketing Assignment

   

Added on  2020-05-01

7 Pages1345 Words144 Views
Higher Education
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Running head: Brand Equity 1Brand ManagementAnalysis with a discussion of the brand’s equity in terms of Keller's Brand Equity Model.
Brand Equity Marketing Assignment_1

Brand Equity 2Customer Based Brand Equity (CBBE) ModelCreating a strong brand has been shown to provide a several financial rewards to an organization, and has become a top priority for many organizations. The CBBE model offers a yardstick by in which brand can evaluate their progress in their brand building efforts along with the initiatives of marketing research. In addition, the CBBE model is able to give comprehensive definition of covering essential topics along with the useful insights and guidelines to facilitate marketers set decision of strategic and inform their decisions related to brand (Kapferer, 2012). The expansion of CBBE was driven by majorly three aims. First, the model has to be well integrated, logical and grounded. La Trobe University which currently has six campuses across Victoria offering a diverse range of courses to satisfy many disciplines. There are no enrolled students in the university. It has been analyzed that La Trobe is one of the top leading Victorian Universities in research contributions (La Trobe University, 2017).Figure 1: CBBE ModelSource: (Keller, 2016).
Brand Equity Marketing Assignment_2

Brand Equity 3There are six brand building blocks with customers have been mentioned in this pyramid. Each block of this model is reliant upon the affluent attainment of earlier step. All steps of CBBE model include accomplishing definite objectives with clients both existing and potential. The first step is able to make sure recognition of the brand with customers and their mind with a specific need of client. The second step of this model is creating the meaning of brand in the mind and the thinking of customers by connecting tangible or intangible associations of brand. The third step is to draw out the entire response of customer to the brand meaning. The fourth step is to adapt brand response to create a passionate for enhancing the active relationship between customer and the brand (Powell, 2016). Brand Identity Brand identity is also known as the brand salience and a highly salient brand is one that covers both aspects of breadth and depth of brand awareness. It is an important first step of building block but it is not usually sufficient (Darabi, Reeves and Sahadev, 2014). The main focus of La Trobe University is on brand salience and brand awareness to enhance the enrolments into the degree. The university creates a sense of community that is why it involves existing and potential customers. The identity is major thing that is why it is important for the LaTrobe University to keep focus on its services and provide the student best education so that the identity of the university will remain in the mind of student it will certainly force them to offer other student for having course under this university. Brand MeaningBrand imagery is reliable on the extrinsic properties of the product and services in which the brand try to achieve the needs of customers. It shows the thinking of consumer about the
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