A Study of Building and Measuring Brand Equity in Hospitality Industry
Honours Dissertation – MKT10932
Dissertation Outline
Student Name : | Huen Ho Ki | Matriculation Number : | 40073098 |
Title: | A study of building and measuring brand equity in hospitality industry |
Comments: | |
Mark( /25) | Marked by : | Date : |
Background to the Study and Overall Research Aim:
If growing brand equity is the key to future business success, it makes sense that one should have a way to quantify and measure such equity. (Keller, 1997, pp.372-379) For hospitality industry, brand equity is an important intangible asset to hotel that has psychological and financial value. It is the added value or goodwill endowed to products and service. Marketer can thought this study as investments in consumer brand knowledge. It is “organizational responsibility and process that aim to maximize long term brand equity” (Keller, 2008, p.339). The quality of the investment in brand building is the critical factor as well as not necessarily the quantity. With this parallel the concept and measurement of brand equity in the hotel industry has gained considerable attention from academicians, practitioners, and researchers in recent years (Bailey and Ball, 2006; Kim and Kim, 2005; Prasad and Dev, 2000; Cobb-Walgren et al., 1995). Nowadays, too many hotel brands competing and many new brand enter the hotel market for consumer attention that created clutter problems. Consumer may confuse about the discrimination of hotel brands. Prasad and Dev (2000) advocated that brands are seen by hotel firms as a quick way to identify and differentiate themselves in the minds of the customers, serving as a signature of the hotel chain, its products and services. Also, Bailey and Ball (2006) suggest that brand management within the hotel industry can be improved through more effective brand differentiation strategies. The chief reason for building brand equity as the cornerstone for business success is that it helps offset competition by
Dissertation Outline
Student Name : | Huen Ho Ki | Matriculation Number : | 40073098 |
Title: | A study of building and measuring brand equity in hospitality industry |
Comments: | |
Mark( /25) | Marked by : | Date : |
Background to the Study and Overall Research Aim:
If growing brand equity is the key to future business success, it makes sense that one should have a way to quantify and measure such equity. (Keller, 1997, pp.372-379) For hospitality industry, brand equity is an important intangible asset to hotel that has psychological and financial value. It is the added value or goodwill endowed to products and service. Marketer can thought this study as investments in consumer brand knowledge. It is “organizational responsibility and process that aim to maximize long term brand equity” (Keller, 2008, p.339). The quality of the investment in brand building is the critical factor as well as not necessarily the quantity. With this parallel the concept and measurement of brand equity in the hotel industry has gained considerable attention from academicians, practitioners, and researchers in recent years (Bailey and Ball, 2006; Kim and Kim, 2005; Prasad and Dev, 2000; Cobb-Walgren et al., 1995). Nowadays, too many hotel brands competing and many new brand enter the hotel market for consumer attention that created clutter problems. Consumer may confuse about the discrimination of hotel brands. Prasad and Dev (2000) advocated that brands are seen by hotel firms as a quick way to identify and differentiate themselves in the minds of the customers, serving as a signature of the hotel chain, its products and services. Also, Bailey and Ball (2006) suggest that brand management within the hotel industry can be improved through more effective brand differentiation strategies. The chief reason for building brand equity as the cornerstone for business success is that it helps offset competition by
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