Introduction This dissertation is comprised of brand evolution and sum various steps involved to construct it.
Term Papers 7 pages, words An examination of brand equity leading to customer loyalty in the clothing industry using the Loyalty Ladder model. Abstract Purpose — The aim of this paper is to examine if there is a correlation between brand equity and brand loyalty. The author will research the sources of brand equity for three international clothing companies: All companies experienced growth in revenue in The companies examined are now in the process of growing their businesses in emerging markets.
The loyalty of customers does remain but it is mainly due to the companies innovative marketing strategies, which have resulted in increased revenues within the companies. Constant brand re-enforcement is extremely important to keep customers loyal to a brand.
The authors conducted an in-depth study of 17 brands within the automobile industry. The findings showed that loyalty and satisfaction were the strongest predictors of brand preference and intention to purchase. The research was broken down into three areas; those who had never tried the brand, those who had tried once and those who had purchased the product.
The focus group study International Journal of Marketing Studies. For those who had never tried the brand, they would not have been satisfied or loyal to a brand as they had never tired it. Perceptions of the brands image and value towards the brand impacted the results, therefore branding is fundamental in creating a personality and image of the brand that the customer can relate to.
The authors believe that attraction and romance with a brand will increase loyalty to a higher level; a deeper and more intense level. The customer will experience security and trust the brand.
Brand romance is subject-specific. The outcome of the study found that brand romance did exist even though the feelings and emotions behind the romance were not explained. There were a certain brands which kept re-occurring as brands with which students felt romantic about.
The idea of the romance being that a customer would remain on the top rung of the ladder for longer if the relationship was on a deeper level. The Company determines its operating segments on the same basis The Company also engages its customers through social media and mobile commerce Brand awareness relates to the presence of the brand in the mind of the customer.
Brands with high visibility tend to be purchased more frequently and also need to be maintained in the marketplace to re-enforce the brand awareness. Lane describes the brand as being targeted at year olds, mainly college students.
Abercrombie and Fitch are famous for having had many controversial pieces of clothing and advertisements in the past but this has added to their brand image and increased media awareness. The company did suffer a reduction in sales, however, to overcome this, management opened stores in new and emerging markets as the American market was maturing.
They also sell online to the Chinese market. In the past few years there has been a shift in Chinese and Japanese culture. In a study conducted by Parker et al it was found that the three most important aspects to a teenager were style, look and fit.
Abercrombie and Fitch certainly contain these three elements. The research conducted by Parker et al showed this to be slightly untrue as US and Japanese teenagers tend to have more similarities towards the Chinese teenagers, as teenagers in China have less disposable income.
However this is changing as China is an important emerging market. The author of this paper believes that the Abercrombie and Fitch brand is a perfect example of a brand romance. There are no loyalty cards or personal accounts to entice customers to climb the ladder.
The famous brand and its image is enough to create an intense and emotional feeling within teenagers and young adults to become advocates of the brand. The loyal advocates mainly years old of the brand remain perched on the top rung of the ladder until the next generation takes its place.
The loving relationship lasts for approximately four years, until the customer topples from the top rung of the ladder. What is different about this brand is how the company do not offer cards, accounts etc.The group is one of only 25 companies in the world and the only one in ASEAN to be in an exclusive global partnership with Manchester United.
Through this partnership AladdinStreet continues to generate more brand awareness and promote Malaysia and its merchants to the world through events and activities with the club’s fans worldwide. Brand Awareness Brand awareness refers to a brand’s pres ence in the consumer’s mind, it gives the brand a level of familiarity to the consumers (Aaker, ).
On the other hand, Bovée et al. () considered brand awareness as a percentage of the target market that is aware of a brand name. Brand Awareness.
Brand awareness is one of the greatest tools a marketer should incorporate in order to make sales of the product produced (Evans, ).
Creating brand awareness for a product ensures visibility to the prospective consumers considering another .
These increments of a consumer's progress include product category awareness, intention to try category, brand awareness, brand recognition, brand recall, brand trial, brand re-trial, and finally assessment and acceptance of brand, within the choice set either exclusively or within a limited set, resulting in purchase and usage.
It is categorized into two components; base sales and incremental sales where the former is the natural need for the products, being driven by the economic factors such as seasonality, pricing, brand awareness, brand loyalty and trends. Ad Tracking – periodic or continuous in-market research to monitor a brand’s performance using measures such as brand awareness, brand preference, .