Brand Equity andBrand Communtity By: Brittany Risser Abbie Dunaway Lee Brown
Brand Equity • Consumers hold strong, favorable, and unique associations with a brand • Willing to pay more for a certain brand over others • Increases financial value of the brand to brand owner • Consumers create emotional ties to certain brand names based on past experiences
Brand Community • Defined as an enduring self-selected group sharing a system of values and standards and recognize bonds or membership with each other. • Community formed on the basis of an attachment to a specific brand or product • Companies with strong brand communities include: Harley Davidson, Apple, Subaru, Saturn, Jeep, Lego, Palm, Volkswagen
Meet the Volkswagen • Known as Vdub by enthusiasts • Attracts younger consumers through efficiency by the new “green movement” and still having high performance. • Attracts older consumers through past experiences with the brand • Youthful ideas of the hippie era (ie the “love bus”
Meet the Volkswagen • Owners of VW have created a vast number of forums online including: • Maintenance • Performance • VW car shows and events worldwide
Jeep • Known to the outdoor enthusiasts • Jeep meshes prestige with a functional ruggedness • Jeep lovers say that owning a jeep is more than just a choice, it’s a lifestyle • Owners of Jeep have created websites, blogs, and scheduled events to get together with other Jeep owners.