Brand Equity Planning Model Free Essay Example

Identification of source of product: Jazz can be identified in front of the other dominant brands

– Assignment of responsibility to product maker:

Consumers offer their credence andloyalty with the unstated understanding that the brand Jazz will behave in certain waysand provide them utility through steady product performance and appropriate pricing, promotion, and distribution programs and actions.

– Risk reducer: Brands can reduce the risk in product decisions. These risks involvefunctional, physical, financial, social psychological and time risk.

Customers of Jazz know that they will get the best packages:

– Search cost reducer: Jazz allows consumers to lower search costs for products bothinternally and externally

– Promise, bond, or pact with maker of product

– Symbolic device: Jazz can serve as symbolic device, allowing consumers to project their self-image Signal of quality:

There is difficulty in assessing and interpreting product attributes and benefits so with experience and credence goods, brands may be particularly importantsignals of quality.

All the well known celebrities are associated with Jazz.

For example, Ali Zafar. From manufacturer’s point of view:

Jazz helps manufacturers to organize inventory and accounting records. Jazz also offersthe firm legal protection for exclusive features of the product. Jazz can preserveintellectual property rights, giving legal title to the brand owner. Jazz can signal a certain level of quality so that satisfied buyers can easily choose the product again. This brandloyalty provides predictability and security of demand for Jazz and creates barriers of entry that make it difficult for other firms to enter the market.

Taken together, thismeans that Jazz seriously impacts shareholder value, which ultimately makes branding aCEO responsibility.