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Individual Case Analysis Q:1) Red Bull’s Sources of Brand Equity Brand equity can be stated as a collection of brand assets as well as liabilities related to a brand. It shows the strength and value of the brand that play a major role in determining the worth of the brand in any particular market.
It occurs when consumers hold positive perceptions about a brand in their minds and prefer it over other similar brands when buying a product of that brand. Positive brand equity provides financial and business benefits to companies (Gunelius, 2013). The recognition of precise sources of brand equity is imperative from the marketing point of view in order to bestow a valuable strategic function along with guiding the decisions regarding marketing aspect. Moreover, the understanding also facilitates managers to comprehend as well as focus on the facets that enable to steer their brand equity. The precise ways in which a brand adds value can be recognised through gaining knowledge about the sources of brand equity (Keller, n.d.). The sources of brand equity play a key role in determining the value of the brand in any particular market. If we talk about some of the main ways to determine brand equity, we can say that the major indicators include the percentage of sales returns to shareholders, earning potential of the brand, change in the price premium of the brand, customer perception about the brand, and market share of the brand. Branding is reflected from customers’ thoughts during the buying process (Hochhalter, 2012). ...
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