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Customer based brand equity is defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand.
Definition brand equity keller. He described brand equity as the differential effect of brand knowledge on consumer response to the marketing of the brand. Ultimately it guides brands on building brand equity. Attaining brand equity is the holy grail for an organization s branding team. There are three ingredients to this definition.
This can be tackled in various ways including using two models developed by brand management gurus kevin lane keller and david aaker. These four levels are. Brand equity is the added value endowed on products and services. Brand equity has also been defined as the enhancement in the perceived utility and desirability a brand name confers on a product lassar mittal and sharma 1995.
Marketers and researchers use various perspectives to study brand equity. Kevin way keller the model s author is a promoting teacher at the fold institute of business. Customer based brand equity cbbe is used to show how a brand s success can be directly attributed to customers attitudes towards that brand. It is the value of a brand that is expressed in financial strategic and management advantages and benefits for the firm that owns the brand.
Customer based brand equity cbbe model is also known as keller s brand equity model. Keller s brand equity model also known as the customer based brand equity cbbe model is a pyramid. Definition by keller 1993 focused on marketing. Keller s brand equity model is also known as the customer based brand equity cbbe model.
A brand is not just a logo or a name because for a consumer a brand reflects a certain emotion or association. The best known cbbe model is the keller model devised by professor of marketing kevin lane keller and published in his mighty strategic brand management. It may be reflected in the way consumers think feel and act with respect to the brand as well as in the prices market share and profitability the brand commands for the firm. It is a broad concept however.
Keller s brand equity model is brilliant as it tells a brand which stage the brand belongs to and what it can do to go higher up the stage.
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