Building strong brand equity through developing and implementing strong brand strategy: in perspective of Bangladeshi supermarkets

Abstract

Branding has emerged as a top management priority in the last decade due to the growing realization because it is not only a name or symbols; it embodies everything that the product or service means to the consumer. The brand is a most valuable intangible asset. The purpose of this study is to create strong brand equity through developing and implementing a brand strategy from Bangladeshi supermarket's perspective. The concept of brand equity emerged in the early 1990s. This paper contained a new brand equity model in the perspective of Bangladeshi supermarket and implements this new model to find out how much effective this model in supermarket's branding strategy. The main asset dimension of new brand equity model is value based. The five stages APCJC value-based model highlights Cordial Reception stage that created by imagining and feel. Actually, the cordial reception we meant here at this stage super marketers should pay heed of their brand reception because there is no necessity to hold them separately in perspective of Bangladesh. We used qualitative research techniques for conducting research that is exploratory in nature and secondary data analysis is used to address the objectives of this study. This paper also breaks down the Keller brand equity model that is known as the Customer-Based Brand Equity (CBBE) Model. Implementing the APCJC value-based brand equity model, the paper finds out that “SHOWPNO” leads the Bangladeshi supermarket by maintaining brand strategies rules and create strong brand equity among its consumer mind. High brand equity provides a company with many competitive advantages because a powerful brand carries high credibility and also offers the company some defense against fierce competition.