Brand Equity Models

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MARKETING DECISION How can you relate the different models of brand equity in this chapter to each other? How are they similar? How are they different? Can you construct a brand-equity model that incorporates the best aspects of each model? Suggested Response: Today, the worth of brand equity is not a question anymore. It is evidently proven even centuries ago and has realized its role by billions of organizations worldwide. One indication of its relevance is the different approaches that attempts to exemplify its course of action –the brand equity models. To name few, such brand equity models are BrandAsset Valuator (BAV), BrandZ, and Brand Resonance. These three models has their own and unique perspective with regards to brand equity. But with careful analysis of their different illustrations, it will generalize the district and precise relationships among them. First, the models are milestones to achieve brand equity. Secondly, they convey that the characteristics and attributes of the brand should match and relate to customers life. These three models also understand the key role of brand equity in company’s success. Consequently, profound understanding of the market and strong commitment of the organization is very vital in every step it takes. Lastly, it seeks for a careful and creative master plan for its execution. Notably, it is not an overnight process as it is a long-term commitment. BrandAsset Valuator focuses on the internal brand designing to acquire awareness from the market. BrandZ broaden this scope by inculcating the actual relevance and performance of the brand. Brand Resonance; on the other hand, maximize its coverage by pounding on the symbolic and emotional factors. Although unique on their own, the three models have common denominators. They are customer-oriented ideologies that pre-require brand awareness and identification.

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