Student Name :| Huen Ho Ki|
Matriculation Number : | 40073098|
Title:| A study of building and measuring brand equity in hospitality industry|
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 differentiating the product, allowing brand owners to charge a premium, and fostering customer loyalty. (Aaker, 1991, pp.19-32). Brand equity very close linked to customer equity and provides touchpoint for hotel to connect with their customers. Customers are the ultimate arbiters of brand equity and the financial worth of shareholder value because the customers are the sources of all cash flows and the resulting profits. (Arnold, 1992, p.142). The purpose of this study is making contribution toward the theory of brand equity and to be hospitality industry literature. On the other hand, this research helps the hotel marketers further understand importance of hotel brand equity getting forward to success in implementation. Due to the lack of empirical data in the investigated area (Kim and Kim, 2005; Prasad and Dev, 2000; Cobb-Walgren et al., 1995).
The aim of this research is weight for hotel brand equity that totally influence on brand management and branding strategies. The researcher use various perspectives to study brand equity reflected in how consumer think, feel and act about the brand. Aaker model is used as conceptual framework to measure total value of the brand to hospitality industry and stress the importance of brand role in marketing strategies. For this purpose, an empirical investigation was conducted to gather information and data for analysis based on online questionnaire and focus group. The survey questionnaire follows a set of five concepts from Aaker model which are brand name awareness, brand loyalty, perceived quality and brand association. Survey was used to obtain quantitative information on consumers’ perception and experience toward hotel affecting their decisions on choosing hotel. Data were collected in Hong Kong that is good choice. In determining the sample size, the researcher has employed the scientific methods for calculation. The researcher need about 300 respondents to obtain views that accurately reflecting...