Brend Equity Contemporary marketing issue

This will improve the sales tremendously. Advertising also increases the sales since its one of the major instruments that increases brand equity. Likewise, a company can improve its brand equity by ensuring the brand safeguards the positive outcomes on the consumers. This positive effect creates a good perception which will improve the profits that the company gets from the brand. The design of the commodity encourages consumer’s recognition whereas the visual elements are used to enhance customer awareness for the existence of a product. Organizations that have demonstrated good management of brands (Coco cola, BMW and Samsung) vi. Conclusion Introduction Branding is a very important aspect in marketing; it usually gives a clear difference in the products of competing alternatives.

This is therefore very essential to the company’s success. It is worth noting that management of brands requires a strategic approach. Although the absence of effective communication between the roles are philosophically disparate and do not have a familiar and a best way to use terms may be a hinderance to strategic organizational management. If the process succeeds, it proves the strength of the brand is good or extent of brand loyalty is high. This is therefore a measure to gauge its effectiveness. Brand loyalty is the best way to measure the brands value since this would lead to cash flows in future. The term brand equity was considered by Feldwick since it created an impression of an existence of operational connection between the brand strength, value branding and brand description that cannot be established to function practically (Christodoulides,et al.

This is anticipatable because branding description and branding strength are widely recommended within the context of business people and value branding as an accounting issue. The move is essentially emphasized on placing long-term profits strategically. (Högström,et al. In the year 1995, an author by the name Davis emphasized the strategic value of brand equity and defines brand value as a good strategic contribution and advantages offered by a brand to a firm. As noted in this explanation, brand value is the outcome of customer geared brand equity outcomes. Another expert named Keller in the year 1993 took the customer oriented brand strength effort to brand equity terming it as a representation of a situation where the consumer somehow understands the brand and even remembers some favorable unique and strong brand relations.

Good understanding is required for brand construct. Although there are more resources, the final brand construct has not yet been produced. Another idea explains the brand constructs and describes the specific relations between a brand and its value addition. The connection is regarded as very important to the many methods about brand definition in trade and is nowadays an a point of incompatibility between accounting and marketing (Huang & Sarigöllü,2014). Brand construct The many available ways in terms of defining brand construct to certain extend originate from differing philosophies and stakeholder perspective. Features that consist a brand might be illusory, real, rational, tangible or emotional. The features originate from all the marketing techniques instruments and the entire brand's production lines. The properties of a brand are made from the marketing tools and can be interpreted by the customer.

They are greatly subjective. Brand description essentially creates brand attributes mentioned initially (Park,et al. Value addition is the riches that a firm makes by its endeavors (Park,et al. In promoting, the added value isn't evaluated and is interpreted as a shopper advantage. The advertising approach is demonstrated by Kinnear who recommended that many organizations make their item more advantageous to utilize subsequently increasing the value of the customer. Wood proposes that advertiser's suggest value addiction can better be perceived as value addiction agents. Value addiction agents are the components that make and help acknowledge value addiction. They are found from aspects that are less tangible. Value addiction tends to be more when the emphases are employed on more subjective and less tangible aspects of goods and services.

Marketing authors McDonald and Chernatony propose synonymy between the brand and the value addiction (Park,et al. According to Hansen (2016), a brand is used to achieve competitive advantages for companies through distinction. The properties that distinguish a brand give the customer loyalty and advantages which they will pay in order to purchase. Its products are safe and secure for usage by customers around the globe. The chevron products are also very reliable; this means they are readily available and easy to access. The Chevron energy products are very distinct from other competing alternatives, and this makes it brand to be easily recognized by customers. Another strategy chevron used to build its brand was to lower the prices. Chevron corporation products are cheaper compared to their alternative competitors.

During this time a healthy relationship with the company’s brand had already been created. The BMW Company The BMW Company deals with the manufacture of cars. It’s based in the United States, and it has developed to be the leading car manufacturing company. They applied various strategies to ensure they become the largest selling company in the world. First, the BMW Company manufactures a variety of sizes, body styles, and engines. It entails going through several stages of acceptance. First, the customers bonded with the cars and this is usually done through exposition events. They get to understand the properties and the unique nature of the BMW brand. The customers then see the advantage of utilizing the BMW brand products.

This is done through comparison with other competing alternatives. Samsung produces a variety of electronic products which ranges from mobile phones, tablets, laptops among other many gadgets. The company has expanded its customer base by advertising the company on social media. The company has used all the available communication channels to market its brand. These include the mass media advertising, event sponsorship, public relations, product placements, sports sponsorships, the Samsung experience galleries as well as Samsung experience stores. The brand communication has two aims; the first is to ensure that Samsung is recognized as a world-class premium company offering quality and credible products. Over a period, its customers developed the emotional attachment and bonded to the company’s products. As a result of this bonding, the customers only purchase the company’s product because of a belief that the brand is the best.

This has necessitated the company to grow its brand quickly as well as make huge profits. This has made one of the most popular in the world. Conclusion The study explains the brand management ought to be strategic and holistic since it’s favorable for longevity. J. , & Eisingerich, A. B. Brand architecture design and brand naming decisions.  The Routledge Companion to Contemporary Brand Management, 109. Keller, K. L. Reflections on customer-based brand equity: perspectives, progress, and priorities.  AMS review, 6(1-2), 1-16. Högström, C. , & Soltani, M (2016) A Model of Brand Loyalty with Emphasis on Brand Dimensions in Samsung Mobile Phones Market European Journal of Economics, Finance and Administrative Sciences, (85) Zablocki, A. , Schlegelmilch, B. , & Schant, E. (2017, May). Customer-Based Brand Equity in the Digital Age: Development of a Theoretical Framework: An Abstract.