Creation and management of brand equity for sustainable competitive advantage
Anil N, Dr. S Muralidhar
Marketers of goods and services usually carry out market research on consumer’s beliefs about attributes of competing brands in a product category. They mainly do the research to position the brand and to evaluate the efficiency and effectiveness of the marketing program. Brand equity is very important to marketers as this facilitates in the effectiveness of brand extensions and brand introductions. This is because consumers who trust and display loyalty toward a brand are willing to try to adopt brand extensions. While there have been methods to measure the financial value of brand equity, measurement of customer based brand equity was found to be in its nascent stage. Present research was conducted to measure customer based brand equity of FMCGs with emphasis on Soaps in Indian rural market. The customer based brand equity scale was developed based on the five underlying dimensions of brand experiences: brand awareness, brand recognition, brand trial, brand preference and brand loyalty. In this study researchers have considered brand trial to measure brand equity. The design of experiment selected was randomized block design and analyzed through technique of two-way ANOVA. It was found that with increase in prices of soaps the brand equity also increased with few exceptions.