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Instagram Brand Equity

How Generation Y can be reached through Instagram Marketing

Written by Frida Johansson, Sofia Engström

Paper category

Bachelor Thesis

Subject

Business Administration>Marketing & Sales

Year

2016

Abstract

Bachelor Thesis: Brand community The community is composed of its member entities and the relationships between them, which can be interpreted as "a dedicated, geographically restricted community based on a set of structured social relationships between brand users" (McAlexander, Schouten & Koenig, 2002, p. 39). Through the community, people can share basic resources that may be cognitive, emotional or material in nature. The main identification basis of the community is the brand or consumption activity, that is, its meaning is the symbolic meaning through the market (McAlexander et al., 2002). From the perspective of customer experience, brand community is the relationship structure in which customers are located (McAlexander et al., 2002). The key relationship includes the relationship between the customer and the customer. Brand, between customer and company, between customer and product, between customer. Like other communities, the brand community is composed of its s entities, including its members, their relationships, and the sharing of basic emotional or material resources (Laroche et al., 2013). Mike Alexander et al. (2002) Prove that marketers can strengthen brand communities by encouraging shared customer experiences by changing these dynamic characteristics. In such a community, people may engage in many types of behaviors, such as helping other customers or sharing experiences with them (Latiff & Safiee, 2015). According to Kim and Johnson (2016), brand-participating customers expressed their willingness to participate in the brand and collect information about the brand, talk about it, and show others its use. Brand researchers agree that one of the main results of building and enhancing brand communities and consumer experience in the context of brand communities is to make customers loyal to the brand (Laroche et al., 2013). La Roche et al. (2013) believes that online communities, as a social structure, have a positive impact on enhancing relationships and increasing brand trust, which in turn has a positive impact on brand loyalty: Laroche et al. (2013) means that marketers can increase brand trust and loyalty by creating and enhancing brand communities based on social media, promoting community feel, usefulness, information sharing, and strengthening social connections between members and other elements of the brand. Their research shows that brand trust has a positive effect on brand loyalty. Hwang and Kandampully (2012) claimed that we — as humans — tend to be more loyal to the connections, attachments, and loves we feel. Previous work has shown that strong consumer brand relationships can increase consumer brand loyalty. 2.3.2 Brand equity Brand equity is defined as the different effects of brand knowledge on consumers' responses to marketing activities. The ultimate goal of brand promotion is to get consumers' praise. Companies try this by marketing products to customers, highlighting differentiated features (Kohli et al., 2015). According to Keller (2001), building a strong brand with a lot of assets can bring many possible benefits to the company, such as greater customer loyalty and less susceptibility to competitive marketing behaviors or marketing crises; greater Profit; more favorable customer response to price rises and falls; greater trade or intermediary cooperation and support; and strengthen marketing communications. The basic premise of Keller's (2001) "customer-based brand equity pyramid" (Figure 2) is that the power of the brand exists in the minds of customers; over time, they understand, feel, see, and hear about the brand. The challenge for marketers in building a strong brand is to ensure that customers have the right type of experience with products and services and their accompanying marketing plans so that their feelings, images, beliefs, opinions, opinions, etc. are related to the brand. Keller (2001 ) The four steps in the pyramid represent a set of basic questions that customers always ask about the brand: the realization of these four steps involves the establishment of six brand building blocks in the pyramid: brand distinctiveness, brand performance, brand image, brand judgment, Brand feelings and brand resonance. Brand distinctiveness is the brand identity, which is related to the customer's awareness of the brand: how easily and how often the brand is aroused in various situations. It involves connecting brands: brand names, logos, symbols and other associations in memory. Brand distinctiveness affects the formation and strength of brand associations that constitute brand image and give brand meaning. It is crucial in possible purchase or consumption opportunities (Keller, 2001). Traditionally, the creation of brand knowledge and awareness required significant financial investment in advertising and promotion budgets to attract market attention. Compared with traditional media, brand awareness spreads more quickly through social media (Kohli et al., 2015). According to Gensler et al. (2013) The idea that the brand identity is reflected by the customer's image and lifestyle is nothing new. More importantly, social media makes these associations more visible and influential. This expands the role of the brand's social identity, and each participant who tells the brand's story is consciously or unconsciously integrated into the brand's identity. As a brand’s social network, it is now composed of many voluntary contacts from consumers; these people voluntarily follow or like the brand, which will affect the authenticity of the brand’s social identity and increase the complexity of brand identity management. Read Less