International Brand Management
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Authors
Dr van Wyk, H
Issue Date
2024-10
Type
Book chapter
Language
Keywords
Alternative Title
Chapter 4: Brand Equity and Value Chain
Abstract
In the contemporary marketing environment, brand equity plays a pivotal role
in shaping the success and longevity of businesses. This chapter discusses the
multifaceted concept of brand equity, exploring its significance and the various
methods used to assess and enhance brand equity.
First, we will define brand equity and discuss its fundamental components.
Understanding what constitutes brand equity is essential for comprehending how
brands cultivate strong connections with consumers and achieve competitive
advantages.
Next, we will examine the various approaches to brand equity. Different
theoretical frameworks and practical models offer diverse perspectives on how
brand equity is built and measured. By evaluating these approaches, we can gain a
comprehensive view of the strategies employed by successful brands to maintain
and grow their market presence.
The chapter will then introduce the concept of the value chain, highlighting
its relevance in the context of brand management. The value chain framework
helps us understand how each activity within an organisation contributes to
the overall value perceived by consumers. By dissecting the value chain, we can
identify key areas where brand equity can be strengthened.
Finally, we will explore future trends that are poised to affect the brand value
chain. As the business landscape continues to evolve, new technologies, consumer
behaviours and market dynamics are emerging. Anticipating and adapting to
these trends is crucial for brands aiming to sustain and enhance their equity in
the long term.
By way of this comprehensive exploration of brand equity, the value chain
and future trends, this chapter aims to equip you with a robust understanding
of how brands can effectively navigate and thrive in the ever-changing
market environment.
Description
Citation
Publisher
Juta and Company (Pty) Ltd