[ad_1]
Customer-based brand equity (CBBE) assesses a brand’s value in the minds of customers, with equity being the sum of values associated with a brand. The CBBE model defines a hierarchy of customer impressions arranged in pyramid-shaped tiers, including salience, performance, images, meaning, judgments, feelings, and resonance. The model aims to create a more connected customer experience that can improve a business’s bottom line.
Customer-based brand equity (CBBE) is a way of assessing the value of a brand in the minds of customers. Branding can increase profitability in businesses large and small by filling gaps in customer knowledge and offering guarantees. The CBBE model concentrates this value in the minds of customers. It forces companies to define their brands according to a defined hierarchy of qualitative or common sense customer impressions. These impressions are often arranged in pyramid-shaped tiers; consist of salience, performance, images, meaning, judgments, feelings, and resonance.
Equity can be thought of as the sum total of values associated with a brand. These could include awareness, loyalty and recognition. The higher the equity, the more likely customers are to trust and choose the company’s product or service. Furthermore, fairness capitalizes on normal psychological tendencies, such as the sometimes longer memory of negative experiences or cognitive laziness that builds loyalty through a customer’s reluctance to choose unfamiliar products over familiar brand products.
Salience represents the bottom of the customer-driven brand equity pyramid. This refers to what customers associate with a particular brand. It describes the basics of what customers think when they hear the name and how often they may think about it. In essence, brand salience represents the depth and breadth of brand awareness.
The meaning characterizes the next level of the pyramid, which contains cells for performance and images. Performance categorizes brand awareness traits and product types associated with the brand. The company’s reputation for service and reliability is also critical.
The images refer to the company image; refers to emotional marketing, which has been proven to be more convincing than concrete approaches. The customer-based brand equity model is based on describing a company’s image and other intangible impressions of the user experience. These could include user profiles, experiences and how a customer relates to the company or products in general.
Judgments and sentiments fall on the next step in the customer-based brand equity model. In general, these aspects look at what a customer thinks and how a customer feels about a brand. Such traits can be described by factors such as personal opinions and impressions of how good or trustworthy a brand is. It also addresses customer emotions associated with a brand.
At its core, resonance describes customer loyalty and engagement with the brand. It describes whether a brand has a strong presence in customers’ minds or is just a blur on their radar screens. Resonance examines the relationship between a company and its customers and assumes a functional and continuous interaction. Customer-based brand equity model efforts can create an intuitive, easily communicated, and recognizable study of customer impressions. This can provide insight and marketing value to help steer a business in a direction that its paying customers may be better responsive to: a more connected customer experience that can appear to bottom line.
[ad_2]