Brand equity is the value of the brand in the marketplace. We can say, the total accumulated value or worth of a brand. Financial accountants define brand equity as the total value of a brand as a separable asset and often called brand valuation or brand value.
Customer Based Brand Equity (CBBE) Model is also known as Keller's Brand Equity Model. CBBE concept is that 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.
Strategic brand management process involves the design and implementation of marketing programs and activities to build, measure, and message brand equity. Strategic brand management process has four main steps .
Brand Management is the function of marketing techniques to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. The process of maintaining, improving, and upholding a brand so that the name is associated with positive results.
Majorly there are four methods for pricing determination strategies: 1. Cost based pricing 2. Break-Even Concept 3. Demand based pricing 4. Pricing related to the market.
New product development process plays a crucial role in deciding the future of the organisation. Every product has a life of its own and it becomes obsolete after a certain period of time. It is essential to develop new products or alter or improve the existing ones to meet the oft-changing customer needs.
Demand forecasting is an attempt to estimate the future level of demand on the basis of past as well as present knowledge and experience, to avoid both under production and overproduction. Without forecasting, forward planning will be directionless and meaningless.
The buying behaviour of organizations that buy goods and services for use in the production of other products and services that are sold, rented or supplied to others. Organisational buying is also called institutional buying and when the products are used in their own production process, the buying process is called industrial buying.
Consumer behaviour refers to the actions of consumers in the market place and the underlying motives for those actions. Marketers expect that by understanding what causes consumers to buy particular goods and services they will be able to determine which products are needed in the market place, which is obsolete, and how best to present the goods to the consumers.
Marketing Environment is the combination of Internal factors and the External factors and forces outside marketing that affect top-level management’s ability to develop and maintain successful relationships with its target customers.