Brand equity has become a very strong part for every product. Brand equity refers to the marketing effects or outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name and, at the root of these marketing effects is consumers' knowledge. In other words, consumers' knowledge about a brand makes manufacturers/advertisers respond differently or adopt appropriately adept measures for the marketing of the brand. Brand equity helps a product to stay strong than other competing brands. Brand equity is the positive effect of the brand on the difference between the prices that the consumer accepts to pay when the brand known compared to the value of the benefit received.
1.2 origin of the project and thesis work:
As bachelor of business administration (BBA) degree requires an attachment of a report assigned and endorsed by the faculty advisor (supervisor of the report). This report has been originated to make a study on the “Brand Equity- The ultimate destination of a Brand” thesis report also required for the completion of BBA program of Stamford University.
As a part of my study and completion of the BBA degree, the thesis work was assigned by “Ms. Sara Sarwari” Assistant professor of Marketing, Department of business administration; Stamford University Bangladesh. She also approved the topic and authorized me to prepare this report as a part for the fulfillment of the said requirement.
1.3 objective of the report:
Each report has some objectives. The main objective of this thesis report is to fulfill the academic requirement of BBA and gather some particular experience. But it is not only the foremost objective of this report; the following are other objectives of the heading of the report:
Branding has become a very important part in business. To have a strong foot hold in the market a product must be branded. Better brand equity helps a product to stay ahead than its competitors.The more brand equity a product has the more will be the profit of the product.
The objectives are summarized as follows:
* To know about brands and branding.
* To have a better understanding of brand equity.
* To get a better idea about how to improve brand equity. * To have better orientation on brand , brand equity, and in brand management * To be familiar with the different approaches of building and measuring brand equity.
1.4 Scope of the study:
This study would focus on the following areas of the brand equity:
* To discuss the definition of brand and brand equity
* Building brand equity
* Measuring, managing, and protecting brand equity
Each of the above areas would be critically analyzed in order to have a clear view of the total concept of brand equity
Report work requires adherence to some rules and methodologies. Rules were followed to relieve the data collection procedure. Completeness and accuracy of study depends on the information and data analysis. Methodology is a set of method in a particular area of activity or research activity.
a) Study design:
The report is fully comprehensive in nature. Information has been acquired from both primary and secondary source. In addition to these, other necessary information has been accumulated from the daily news paper, relative journal and so on.
b) data sources:
Data is one of the most important elements to prepare a study effectively. To make the report factual and reliable of data and information have been collected using different ways. The various sources of data are used widely in this program, which are discussed below:
* Source of primary data:
The primary data are those, which are collected as fresh and for the first time and thus...