Fragment: Five Dimensions of Brand Equity: The Proposed Model
By Chieng Fayrene Y.L. and Goi Chai Lee
The consumer-based brand equity is an asset of four dimensions that are brand awareness, brand associations, perceived quality and brand loyalty.
A brand association is the most accepted aspect of brand equity (Aaker 1992). Associations represent the basis for purchase decision and for brand loyalty (Aaker 1991, p. 109). Brand associations consist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes (Kotler and Keller 2006, p. 188) and is anything linked in memory to a brand. Other researchers (Farquhar & Herr 1993, Chen, 1996, Brown & Dacin1997, Biel 1992) identify different types of association that contribute to the brand equity. Chen (2001) categorized two types of brand associations - product associations and organizational associations.
Non-functional attributes include symbolic attributes (Aaker 1991, Keller 1993, Farquhar & Herr 1993, Chen 1996, Park et al. 1986) which are the intangible features that meet consumers’ needs for social approval, personal expression or self-esteem (Keller 1993, Hankinson and Cowking 1993, de Chernatony and McWilliam 1989, Pitta & Katsanis 1995). Consumers linked social image of a brand, trustworthiness, perceived value, differentiation, and country of origin to a brand.
Loyalty is a core dimension of brand equity. Aaker (1991, p.39) defines brand loyalty as the attachment that a customer has to a brand. Grembler and Brown (1996) describe different levels of loyalty. Behavioral loyalty is linked to consumer Behavior in the marketplace that can be indicated by number of repeated purchases (Keller 1998) or commitment to rebuy the brand as a primary choice (Oliver 1997, 1999). Cognitive loyalty which means that a brand comes up first in a consumers’ mind, when the need to make a purchase decision arises, that is the consumers’ first choice. The cognitive loyalty is closely linked to the highest level of awareness (top-of-mind), where the matter of interest also is the brand, in a given category, which the consumers recall first. Thus, a brand should be able to become the respondents’ first choices (cognitive loyalty) and is therefore purchased repeatedly (Behavioral loyalty) (Keller 1998).