Authors

1. Dr. Ashok Kumar Sharma
2. Dr. Sachin Gupta

Affiliation

• Assistant Professor Department of Business Administration University of Rajasthan, Jaipur
• Assistant Professor Department of Management Studies ICG-The IIS University, Jaipur

Abstract

A brand is an idea or an image with which the consumers connects by recognizing the name, logo, slogan, or design of the company, for a product or a service. It is a vibrant picture held in consumers’ minds. The concept of branding changes the minds of the people, where they can proudly say that they belong to the group of users of one such product. Hence brand acts as a source of some sort of information which is going to present itself in the minds of the customers. Branding allows companies to build their reputations and add to the revenue. Brand equity is one of the business concepts developed in past twenty years. Branding is a very powerful component in business. The brand must have a logo to make branding easier and more possible. The consumers decide if they will buy a product or use a service based on how they view the brand. The brand itself tells us or let us imagine how good or bad the product is even if we never tasted it before!
The paper is an attempt to describe that a brand in order to build its brand equity follows specific steps provided by the Customer-Based Brand Equity (CBBE) model. This CBBE pyramid is discussed in context with the banking sector. It provides an exclusive stance about brand equity, how it is built, measured and managed by different banks. In today’s world, where the budding financial market is full of competition, brand becomes a decisive point in choosing a bank for any individual or organization. To acquire a space in customer mind the bank strives to provide quality services, financial power and also the promises guaranteed. It implies that higher customer mind share is possible only when the consumers have a positive experience with the bank, thus the service qualities impacts the bank’s brand image.

Keywords

Brand Equity, Customer Based Brand Equity

References

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