Abstract
Purpose– This paper aims to look into contemporary thinking within the brand equity paradigm, with a view to establishing avenues for further research on the drivers of brand equity formation, enabling a more in-depth understanding of the antecedents of brand equity and its determinants, as well as the development of an improved instrument to measure brand equity. The brand equity paradigm and its importance for marketing theory have been in the research focus for more than two decades. There is no agreement in the literature how to develop a unique measure of brand equity, neither what are the sources, drivers or determinants.Design/methodology/approach– The authors develop the relating conceptual study through the differentiation and integration as specific conceptual goals. The authors present a taxonomic framework of brand equity grounded on a synthesis of contemporary approaches to the theme.Findings– The authors identify gaps in the brand equity literature. The analysis and development of the conceptual study in this paper shall serve as beacons for future research and provide valuable theoretical insights on the determinants of brand equity formation and the development of better brand equity measurement tools.Originality/value– The authors synthesized contemporary approaches in the field, identified research gaps and proposed open questions that should be tackled, as well as provided avenues for future research. The authors argue that creation of a unifying brand equity theory should be based on three pillars: stakeholder value, marketing assets and brand financial performance outputs.
Highlights
This analysis is consistent with the theoretical framework by MacInnis (2011) and Yadav (2014); we develop the relating conceptual study through differentiation and integration as specific conceptual goals
In studying brand equity formation, we call for the development of more comprehensive methodological approaches
Having presented a typology as to what currently exists in the literature, we have concluded there is a need for further research that elicits a better understanding as to the antecedents of brand equity and its formation in organizations
Summary
One of the first references to branding, or what is currently thought of as basic brand theory (Ambler, 1997), can be traced to the work of St. Conceptualization of brand Conventional marketing thinking defines a brand as an entity that provides added value to key stakeholder constituencies based on factors that extend beyond the functional characteristics that are intrinsic to the goods and services that are traded under those brand names (cf Farquhar, 1989; Aaker, 1991). These added intangible values differentiate a product from its competitors, influence consumer preferences, and enhance customer satisfaction levels often leading to greater customer loyalty. It has been argued in the literature that brand equity “provides goodwill value in the face of uncertainty” (Broniarczyk and Gershoff, 2003; p. 163; cf. Shapiro, 1982) and crisis (cf. Hegner et al, 2014; Suder and Suder, 2013; Brianna et al, 2014) as brand equity may be taken to be a sign of the credibility of brand associations in the marketplace (Erdem and Swait, 1998)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
