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Aaker is the creator of the Aaker Model, a marketing model that views brand equity as a combination of brand awareness, brand loyalty, and brand associations. [11] The model outlines the necessity of developing a brand identity, which is a unique set of brand associations representing what the brand stands for and offers to customers an aspiring brand image.
There are three key levels of branding: Corporate brand, umbrella brand, and family brand – Examples include Heinz and Virgin Group.These are consumer-facing brands used across all the firm's activities, and this name is how they are known to all their stakeholders – consumers, employees, shareholders, partners, suppliers and other parties.
Although brand identity is a fundamental asset to a brand's equity, the worth of a brand's identity would become obsolete without ongoing brand communication. [91] Integrated marketing communications (IMC) relates to how a brand transmits a clear consistent message to its stakeholders. [82] Five key components comprise IMC: [69] Advertising
Brand valuation is the process of estimating the total financial value of a brand. A conflict of interest exists if those who value a brand were also involved in its creation. [ 1 ] The ISO 10668 standard specifies six key requirements for the process of valuing brands, which are transparency, validity , reliability , sufficiency, objectivity ...
In marketing, brand management is the control of how a brand is perceived in the market.Tangible elements of brand management include the look, price, and packaging of the product itself; intangible elements are the experiences that the target markets share with the brand, and the relationships they have with it.
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. [1] Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. [2] It is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to ...
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name.The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands.
Lifestyle retail branding is the way in which retailers refine their products or services to interest lifestyles in specific market segments. [17] Examples of lifestyle retail brands include the now defunct Laura Ashley, GAP and Benetton. These retailers offer a distinct and recognised set of values to consumers.