Although there is a large body of research on brand equity, little in terms of a literature review has been published on this since Feldwick’s (1996) paper. To address this gap, this paper brings together the scattered literature on consumer based brand equity’s conceptualisation and measurement. Measures of consumer based brand equity are classified as either direct or indirect. Indirect measures assess consumer-based brand equity through its demonstrable dimensions and are superior from a diagnostic level. The paper concludes with directions for future research and managerial pointers for setting up a brand equity measurement system.

Consumer based brand equity conceptualization and measurement: a literature review

Firms spend considerable efforts to build brand awareness and associations among consumers. Yet there is a limited understanding of the financial returns of such investments. In this article, the authors present a framework that uses trademarks as measures of firms' branding efforts. They classify trademarks into two categories—brand-identification trademarks and brand-association trademarks—and propose that they are indicators of firm efforts to build brand awareness and associations among consumers, respectively. The authors then evaluate the chain of effects linking such assets with metrics of firms' financial value. A longitudinal analysis of data collected from secondary sources reveals that the stock (i.e., total number) of brand-association trademarks available to firms in time period t increases their cash flow, Tobin's q, return on assets, and stock returns and reduces their cash-flow variability in period t + 1. Furthermore, the authors observe that the stock of brand-identification tra...

/pdf/evaluating-the-financial-impact-of-branding-using-trademarks-49gikfl2fw.pdf

Evaluating the financial impact of branding using trademarks: A framework and empirical evidence

Purpose – The purpose of this paper is to examine the influence of brand communication, brand image and brand trust as potential antecedents of brand loyalty in a sample of consumers in Gauteng Province of South Africa. Design/methodology/approach – Data were collected from 151 respondents, an 89 per cent response rate, using anonymously completed questionnaires. Research scales were operationalized on the basis of previous work. Data were collected from 151 respondents, an 89 per cent response rate, using anonymously completed questionnaires. Research scales were operationalized on the basis of previous work. Proper modifications were made in order to fit the current research context and purpose. “Brand communication” measure used six-item scales while “Brand image” used eight-item scale measure. “Brand trust” and “brand loyalty” used a four-item scale measure. All the measurement items were measured on a five point Likert-type scales that was anchored by 1=strongly disagree to 5=strongly agree to expres...

Brand communication, brand image and brand trust as antecedents of brand loyalty in Gauteng Province of South Africa

Brand equity is an essential concept in marketing academia and practice. The term came into use during the late 1980s, and the importance of conceptualizing, measuring and managing brand equity has grown rapidly in the eyes of practitioners and academics alike. Despite the importance of the concept, and the need for brand equity measures, the literature lacks an empirically based consumer-perceived brand equity scale. This article develops a brand equity conceptualization and scale determined by dimensions that consumers perceive. This consumer-perceived consumer-based brand equity scale is made up of four dimensions: quality, preference, social influence and sustainability. This new robust scale contributes to the theoretical understanding of consumer-based brand equity measurement, and assists brand managers in measuring brand equity and understanding how consumers value brands in order to develop successful brand strategies.

A consumer-perceived consumer-based brand equity scale

Purpose – The purpose of this paper is to examine the performance of Aaker’s dominant conceptualization of consumer-based brand equity (brand awareness, brand associations, perceived quality and brand loyalty) in a multi-national and multi-sector European context and highlights important lessons vis-a-vis the measurement of brand assets across countries. Design/methodology/approach – Cross-category data was collected through a survey over a period of two months from a representative sample of consumers in three European countries (n=1,829), the UK (n=605), Germany (n=600) and Greece (n=624). Findings – The findings suggest that Aaker’s dimensions of consumer-based brand equity cannot be clearly separated. More specifically the dimensions of brand awareness, brand associations and brand loyalty could not be always clearly discriminated in all national contexts. Originality/value – The paper contributes to the limited amount of cross-national research on brand equity by assessing the most widely used concep...

/pdf/consumer-based-brand-equity-measurement-lessons-learned-from-2f80c68frr.pdf

Consumer-based brand equity measurement: lessons learned from an international study

We develop a robust model for estimating, tracking, and managing brand equity for multicategory brands based on customer survey and financial measures. This model has two components: 1 offering value computed from discounted cash flow analysis and 2 relative brand importance computed from brand choice models such as multinomial logit, heteroscedastic extreme value, and mixed logit. We apply this model to estimate the brand equity of Allstate---a leading insurance company---and its leading competitor, which compete in multiple categories. The model captures the brand's spillover effects from one category to another. In addition, we identify the dimensions that drive a brand's image, examine the relationships among advertising, brand equity, and shareholder value, and build a decision support simulator for the focal brand. Our model provides reliable estimates of brand equity, and our results show that advertising has a strong long-term positive influence on brand equity, which is significantly positively related to shareholder value. The model, the brand equity estimates, and the decision support simulator are used by key executives across multiple functional areas and have enabled the company to substantially gain by reallocating its advertising resources to improve brand equity and shareholder value, and by offering better guidance to analysts and investors.

/pdf/practice-prize-paper-bran-eqt-a-multicategory-brand-equity-1609wfkkva.pdf

Practice Prize Paper---BRAN*EQT: A Multicategory Brand Equity Model and Its Application at Allstate

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Practice Prize Paper---BRAN*EQT: A Multicategory Brand Equity Model and Its Application at Allstate