BRAND EQUITY OF FOOD RESTAURANTS IN KARACHI
SYED MEHDI RAZA &
The objective of this study was to measure consumers’ perception on the brand equity of the fast food chains operating in Karachi. The selected fast food chains for the purpose of this research were KFC, McDonalds, Subway and Mr. Burger. A closed ended questionnaire based on a liker rating scale was developed. The questionnaire was based on literature survey, and the theoretical framework. The field survey was carried out in October 2004. The final sample size was of 83 respondents. The brand equity of KFC with the mean of 3.95 was highest and the brand equity of Mr. Burger with a mean of ...view middle of the document...
Through well-conceived and effectively managed brands, firms are able to build favorable reputations, which enhance the confidence of the buyers and consumers. Even in times of difficulty firms reap the benefits of well – developed brands. As John Charlton Collins once remarked, “In prosperity our friends know us; in adversity we know our friends”. But brands don’t just command respect because of their value to corporations, they do so because they add to the quality of life. The brands we use are making non – verbal statements about the consumer as a person. People choose brands, not just because of their utility, but because consumers perceive that brands are affecting and depicting their personalities. (Marriott, 2002)
Traditionally, advertising has particularly been a powerful way of communicating a brand’s functional values, as well as building and communicating its emotional values. In an era where service sector exceeds the importance of the manufacturing sector, people’s impressions of brands are more strongly influenced by the staff they interact with. Their behavior, style of dress, tone of voice, beliefs and attitudes create a picture in the consumers’ minds about brand values. The difference between competing brands in today’s environment is not so much based on ‘what customers receive’, i.e. their functional value but rather on ‘how customers receive it’. Advertising is a powerful brand building and communicating tool, but the firms have to ensure that their staff delivers the promises consumers are led to expect through the advertising campaigns. (Popcorn, 2000)
Firms have traditionally emphasized the importance of knowledge and skills when recruiting staff, since these are important in delivering functional values. Yet, if staff is the visual manifestation of brands, their individual values will be perceived as those of the brand. One of the challenges of brand management is ensuring that staff has values that concur with those of the firm’s brands. It is difficult to shift someone’s values. (Marriott 2002)
Research has shown that brands are multifaceted concepts and to talk about ‘a brand’ sometimes overlooks the richness of the concept.
“A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant, unique, sustainable added values which match their needs most closely.”(Keller, 2004)
Dimensions of Brand EQUITY
Brand equity – its definition and approaches to its measurement – continues to be a contested topic. Nowadays, it seems difficult to pick up a business or marketing journal without coming across the ‘BE’ phrase. (Keller, 2004)
“Brand Equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or that firm’s customers. The major brand asset categories are: