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The importance of brand knowledge in building strong brand equity.
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| Submitted: Fri Mar 19 2004
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The importance of brand knowledge in building strong brand equity There has been an increasing interest in brand equity among marketing academics and practioners (Cobb-Walgren, Ruble & Donthu, 1995; Yoo, Donthu & Lee, 2000; Faircloth, Capella & Alford, 2001). In 1991, a survey involving Marketing Science Institute (MSI) members reported brand equity to be a major issue facing marketing management. Researchers have focused on defining and measuring the concept of brand equity and, to a lesser extent, understanding its causes and effects (Cobb-Walgren et al, 1995). This paper will provide an overview of brand equity, brand knowledge, brand awareness and brand image. Factors that influence the creation of strong brand equity, namely brand awareness and brand associations, will be the main focus. Brand equity Before we can discuss and begin to understand brand equity, we must firstly define the term "brand". A brand is a name, term, sign, symbol, design, symbol or a...
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