Academic journal article Journal of Physical Education and Sport

Development of Brand Equity Model of Zob Ahan Sports Club

Academic journal article Journal of Physical Education and Sport

Development of Brand Equity Model of Zob Ahan Sports Club

Article excerpt

Introduction

Today, companies and clubs create brands in order for growing their business and increase their profitability. Through differentiating themselves from competitors, they try to encourage consumers to buy their products or services, and in order to turn their product to a reliable and familiar brand in their customers' minds, try to convince consumers that their product is more valuable.Brand is considered one of the assets of a company, which is often in the form of a name, word, symbol, design or a combination of these elements whose purpose is to transfer and identify the meanings that distinguish the company's products or services from the competitors (Hamidi et al., 2015, p. 124). According to Decherntuwery (2001), a successful brand is able to rapidly create a strong emotional and personal relationship with customers, and in this way it makes possible the probability of customer's loyalty to brand. A brand is a name that is directly used in sale of goods or use of services; but specifically, brand is not just a name, but it also has a graphic symbol or logo which is unique. Therefore, a brand is a name or symbol which is used with the aim of selling goods or providing services, and the organization uses it for the purpose of value creation for its products (John Miller and David Moore, 1998, p. 12). Today, other elements such as experiences, heard things, narratives and consumers' mental memories about the specific features of brand have interconnected to each other in a set, and all of which together have created the concept of brand (Kotler, 2006, p. 24).

Regarding creating strong brands, Aaker (1991) believes that brand awareness, brand loyalty and perceived quality of brand all lead to creation of brand equity, which is very important for companies. If customers are loyal to the brand, they are willing to pay a higher price for that and marketing plans will be more effective for them, and this will cause the company to achieve a sustainable competitive advantage.

Since customer is considered the key and pivotal factor in enhancing organizational agility, and orientation of all goals, strategies and resources is around attracting and maintenance of customer, so maintaining and enhancing customer loyalty is considered a strategic challenge for organizations which are concerned about maintaining and developing their competitive position in the marketplace. The goal of creating a brand is something more than selling goods or providing target services. Brand, in addition to having control on market share, also offers ways to grow business, and attracts and maintains skilled and talented employees, and also improves its own value for the stockholders of the complex (Hamidi et al., 2015, p. 85).

One of credible concepts in the area of marketing is brand equity which plays an important role in creating long-term interests for the organization. Brand equity exists when the consumer is familiar with the brand and understands the added value of purchasing a particular product or service. Brand equity is an added value that has been granted to a brand because of its name. Therefore, it is a key factor in brand management and branding strategies.

According to Aaker (1991), brand equity is the set of attributes that are linked to the brand and its name and symbol, and increases or decreases the value created by a product or service for an organization or its customers. Aaker claims that four aspects of brand awareness, perceived quality, loyalty to brand, and brand associations directly create brand equity.

Clare (1993), through conceptualization of brand value based on the customer, introduces it as a different impact from brand knowledge on the consumer's response to brand marketing. Customer-based brand equity includes the consumers' reactions to one of the factors of mixed marketing about brand, compared to their reactions to the same factor of mixed marketing but in relation to another anonymous and non-famous product or service. …

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