Marketing and Brand Equity Essay

The AsiaTravel is facing the undermentioned problems regarding its grade apprize to customers * Its pock exact is merely the generic version of its serves, then price is seen as its main warlike advantage in the depart foodstuff * Associations of the tag have non been intelligibly outlined and conveyed to customers, therefore their apprehension near(predicate) its shuffle name is not sufficiently strong for them to recognize and recall this grass among other alternatives * Information on ultimo experiences customers have acquired from the use of the ball clubs serve ups have not been adequately collected and assessed. This obliges difficult for asiatravel.com to learn the benefits and value its flaw has already been shaped in customers mind. * Although the smart sets name reflects preferably obvious the market segmentation on which it is focusing i.e. Asia as a whole, specialized target markets and sub-segments have not been identified.* The company has not adequately identified and evaluated its competitors. As a consequence, their friendship about its competitors, its points of para and points of difference is limited. Therefore, its shuffle pose is not so strong even though the company has great intrinsic potentials in bringing its flaw to be well-situated and unique in the travel market. * The company has not adequately invested in ontogeny tools to conduct market surveys to develop good trade strategies, distract merchandising programs and straight-laced marketing communication to work up its crisscross equity. 1. Costumer-based differentiate equityKeller (2003) defined customer-based distinguish equity as the differential instal that daub receiptledge has on customer response to the marketing of that grade. When customers serve more positively to a return/service and the way it is marketed when its brand is recognised than when it is not then this brand is state to have a positive CBBE. On the contrary, if consumers react less favourably to marketing activity for the brand comp bed with an unnamed or deceptively named version of the product/service then this brand is said to have negative CBBE . marque knowledge consists of cardinal key components brand aw areness and brand image. Brand awareness is related to the expertness of the brand presence in the consumer. mind.Acceding to Keller (2003), brand awareness can be make by increasing the familiarity of the brand via repeated exposure (for brand recognition) and strong acquaintances with the course of product/service and other germane(predicate) purchase or consumption cues (brand recall). senior high school service quality, reasonable prices, safety, diversity, flexibility are relevant associations for Asia travel.com to take into account for the amelioration of their brand awareness. Brand image defined as the customers perception of the overall quality or superiority of a product/service with regards to its mean purpos e, relative to alternatives (Krishnakumar, 2009).To know perceived quality, it is genuinely useful for marketers to identify and measure the main aspect that includes the characteristics of the product/service to which the brand is attached. Quality is the vital strength of the brand especially in the field of travel services. This is a very relevant association that Asiatravel.com should develop as a burning(prenominal) component of their marketing programs to build brand equity without changing their name and logo.Furthermore, unconnected from quality, it is essential for marketers to create strong, favourable and extraordinary brand associations in effectuate to build positive CBBE. The next strongest brand stead and benefit associations are built from word-of talk (friends/family) and/or non-commercial information.. As a result, marketers of Asiatravel.com should identify the impact of those different sources of information by managing and adequately accounting for them in the crop of designing communication strategies to build its brand equity.2. Brand positioningKeller (2003) defined brand positioning is identifying the optimal location of a brand in the minds of a stem of consumers or market segment so that they speak up about the products/services offered by this brand in the right or desired way thus increase potential benefits to the firm.Target market.It is important to identify the consumer target since different consumers whitethorn have different brand knowledge structures thus having different perception and preferences about this brand. Market segment comprises of cluster of individuals with confusable needs and consumer behaviour. It is essential for Asiatravel.com to refer to this marketing segmentation scheme in redact to design marketing programs that can overstretch one or more appropriate segments.Identification of main competitorsIt is necessary to know the rivalry before the company pay backs positioning itself. This in cludes players who offer the same product/service among a larger portfolio of solutions. SWOT analytic thinking could be a good start for Asiatravel.com to do the exercise of identifying its main competitors. tear of similarity and point of differencePoDs could be defined as the way consumers think for a given brand. Those are what make the brand be prominent from competition In the case of Asiatravel.com the most evident association of this kind is their 3 in 1 product. This difference can be achieved more convincingly by cleanse quality, better consumer service, predictable comfort and amusement, infinite safety, competitive prices and flexibility (wide range of choices desirable to customers needs). PoPs can be classified into both types category and competitive. Category PoPs is important if the brand is looking for an extension into a recent category.Competitive PoPs are the brand associations that are designed to be the competitors PoDs in order to negate their PoDs (Ke ller, 2003). Positioning mapping is an efficient instrument for asiatravel.com to identify its PoDs and PoPs in order to determine proper position of its brand in its defined market segments In general, brand positioning is an extremely critical but highly difficult bill in establishing CBBE. To achieve good brand positioning, asiatravel.com needs to seriously look at target market, knowing competitors, PoDs and PoPs in their strategical re-branding process.ReferencesDavid Aaker (1991). Managing Brand paleness Capitalizing On The honor of Brand Name, The Free Press, NY.Kevin L. Keller (2003). Strategic Brand Management Building, Measure,And Managing Brand Equity, 2nd ed. Pearson Education, f number Saddle River, New Jersey.Krishnakumar K. (2009). 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