Q1: Pick a brand. Attempt to identify its sources of brand equity. Assess its level of brand
awareness and the strength, favorability, and uniqueness of its associations.
Answer
Customer based brand equity occurs when the consumer has high level of awareness and
familiarity with the brand and holds some strong, favorable and unique brand associations in
memory.
Grameen Phone
Brand awareness: Brand awareness consists of brand recognition which relates to consumers
ability to confirm prior exposure to the brand when given the brand as a cue and brand recall
relates to consumers ability to retrieve the brand from memory when given the product category,
the needs fulfilled by the category, or a purchase or usage situation as a cue.
Strength of brand association: Two factors facilitating the strength ofassociation to any piece of
information are the personal relevance of the information and the consistency with which this
information is presented over time. They are brand attributes and brand benefits
Favorability of Brand: Favorable brand association for a brand is those associations that are
desirable to consumers and are successfully delivered by the product and conveyed by the
supporting marketing program for the brand.
Uniqueness of brand Association: In many categories, non product-related attributes, such as user
type or usage situation, may more easily create unique association.
2Q: Which brands do you have the most resonance with? Why?
Answer:
A brand is a name, term, sign, symbol, design or a combination of them, intended to identified the
goods and services of one seller or group of sellers and to differentiate them from those of
competition.
NOKIA have the most resonance with mine. NOKIA company slogan is connecting with people.
They always concern about their potential customer. They always try to provide best services for
their customer and they also provide it. For this reason they try to communicate with potential
customer. For resonance they build up lots of customer services center, build up brand web page,
which is help for customer to collect information about NOKIA company, direct marketing, uses
promotion mix for resonance etc. 2
, When my family member or my friends purchase a mobile phone then I suggest firstly purchasing
the NOKIA brand. Because I consider myself loyal to NOKIA.I feel NOKIA is the only brand of
this product I need. Because this brand is the best brand to solve my needs. The entire attribute is
available in this product to solve my needs.
NOKIA is the market leader brand, which is capturing the market. This is the brand use by people
like me and also I feel a deep connection with others who use this brand.
3Q. Can every brand achieve resonance with its customers? Why or why not?
Answer:
Brand resonance refers to the nature of this relationship and the extent to which customers feel
that they are ‘in sync’ with the brand.
Brand resonance is very important thing for a particular brand. But every brand cannot achieve
resonance with its customer. It includes brand loyalty, attachment with the brand, community of a
particular brand user and engagement with the brand. In spite of having quality product marketer
cannot achieve resonance with its customer because of inefficient marketing activities. Several
reasons can be brought under consideration that not to achieve resonance with its customer. These
are as follows –
Price – If the company charges a premium price for its product without having favorable benefits
and attributes.
Fails to meet customer needs – If the company fails to provide sufficient features that might
satisfy the customer’s needs. When customers get their perceived benefits from the product it
results to be loyal to the product.
Unavailability – The unavailability of product may results to less loyal to the product. It is a
barrier to achieve brand resonance.
Adding value to the product – By adding value to the product customer bound to think the brand
is more than a product. This helps the marketer to build attachment to the brand. But often
marketer fails to do this because of insufficient know-how about the value that suit with the
product.
Imperfect brand association – Strong and perfect brand association helps to create brand
resonance with its customer. If the customer fails to link their gathered information to its
association may results in insufficient brand knowledge.
Scarce source of information – An important condition is to achieve the brand resonance is the
engagement with the brand. Scarce source of information about the brand or the product may not
allows to be engaged with the brand.
awareness and the strength, favorability, and uniqueness of its associations.
Answer
Customer based brand equity occurs when the consumer has high level of awareness and
familiarity with the brand and holds some strong, favorable and unique brand associations in
memory.
Grameen Phone
Brand awareness: Brand awareness consists of brand recognition which relates to consumers
ability to confirm prior exposure to the brand when given the brand as a cue and brand recall
relates to consumers ability to retrieve the brand from memory when given the product category,
the needs fulfilled by the category, or a purchase or usage situation as a cue.
Strength of brand association: Two factors facilitating the strength ofassociation to any piece of
information are the personal relevance of the information and the consistency with which this
information is presented over time. They are brand attributes and brand benefits
Favorability of Brand: Favorable brand association for a brand is those associations that are
desirable to consumers and are successfully delivered by the product and conveyed by the
supporting marketing program for the brand.
Uniqueness of brand Association: In many categories, non product-related attributes, such as user
type or usage situation, may more easily create unique association.
2Q: Which brands do you have the most resonance with? Why?
Answer:
A brand is a name, term, sign, symbol, design or a combination of them, intended to identified the
goods and services of one seller or group of sellers and to differentiate them from those of
competition.
NOKIA have the most resonance with mine. NOKIA company slogan is connecting with people.
They always concern about their potential customer. They always try to provide best services for
their customer and they also provide it. For this reason they try to communicate with potential
customer. For resonance they build up lots of customer services center, build up brand web page,
which is help for customer to collect information about NOKIA company, direct marketing, uses
promotion mix for resonance etc. 2
, When my family member or my friends purchase a mobile phone then I suggest firstly purchasing
the NOKIA brand. Because I consider myself loyal to NOKIA.I feel NOKIA is the only brand of
this product I need. Because this brand is the best brand to solve my needs. The entire attribute is
available in this product to solve my needs.
NOKIA is the market leader brand, which is capturing the market. This is the brand use by people
like me and also I feel a deep connection with others who use this brand.
3Q. Can every brand achieve resonance with its customers? Why or why not?
Answer:
Brand resonance refers to the nature of this relationship and the extent to which customers feel
that they are ‘in sync’ with the brand.
Brand resonance is very important thing for a particular brand. But every brand cannot achieve
resonance with its customer. It includes brand loyalty, attachment with the brand, community of a
particular brand user and engagement with the brand. In spite of having quality product marketer
cannot achieve resonance with its customer because of inefficient marketing activities. Several
reasons can be brought under consideration that not to achieve resonance with its customer. These
are as follows –
Price – If the company charges a premium price for its product without having favorable benefits
and attributes.
Fails to meet customer needs – If the company fails to provide sufficient features that might
satisfy the customer’s needs. When customers get their perceived benefits from the product it
results to be loyal to the product.
Unavailability – The unavailability of product may results to less loyal to the product. It is a
barrier to achieve brand resonance.
Adding value to the product – By adding value to the product customer bound to think the brand
is more than a product. This helps the marketer to build attachment to the brand. But often
marketer fails to do this because of insufficient know-how about the value that suit with the
product.
Imperfect brand association – Strong and perfect brand association helps to create brand
resonance with its customer. If the customer fails to link their gathered information to its
association may results in insufficient brand knowledge.
Scarce source of information – An important condition is to achieve the brand resonance is the
engagement with the brand. Scarce source of information about the brand or the product may not
allows to be engaged with the brand.
