Customer Based Brand Equity Model (CBBE)
The CBBE model approaches brand equity from the perspective of the customer – whether customer is an individual or an organization. The CBBE model provides a unique point of view as to what brand equity is and how it should best be built, measured and managed. The power of a brand lies in what customers have learned, felt, seen and heard about the brand as a result of their experiences over time. The big challenge for marketers is to ensure that customers have the right type of experiences with their products and services. In order to do this, marketers must develop marketing programs in way that best fit into customers’ mind and linked the brand to the desire customers’ feelings, thoughts, actions and beliefs. So that customer-based brand equity is defined as, the differential effect that brand knowledge has on consumer response to the marketing of that brand.
Customer-Based Brand Equity Pyramid
Brand Salience:
It’s means broad awareness of the brand. The first step in building a brand equity is the brand awareness that contains two parts; brand recognitioin (how easily customer identify a brand after exposing some cue or a physical product) and brand recall (how easily customer recall the brand without showing a cue while making purchase decision or thinking the product category).
The Essay on Best Buy Customer Centric Model
“How can Best Buy continue to have innovative products, top-notch employees, and superior customer service while facing increased competition, operational costs, and financial stress? ” This is the critical question asked by a company who has out survived others, but will they outlast when all is said and done. Originally known as the Sound of Music established in 1966, Best Buy began as an audio ...
We must consider both the breadth and depth of the brand awareness; the depth is that how likely it is for a brand element to come to mind and a breadth is the range of purchase and the situations in which the brand comes to mind of the consumers. A brand we easily recall has a deeper level of brand awareness and breadth is related to the product knowledge in the memory of the consumer. So companies must consider or develop the product category structure for the brand or product hierarchy because customers always make a hiararchical decisio while purchasing some product or service, the first thing comes his/her mind is the product category then he/she goes further. So it is very important that consumers consider our brand in their desired product category while making purchased decision.
Brand performance:
It is describes how well the product or service meets customers’ more functional needs. Brand performance directly related with the features of the product that differentiate it from others.
