The Variables Brand’s Relationships and Brand Equity: A Case Study of Mobile Phone Brands Catering to Albanian Consumers

Abstract

Managers today are aware of the fact that the brand name has become an important asset for the company and is required for their focus on creating brand equity. A strong brand is one that possesses high brand equity. What is evident in all studies is the fact that brand equity is considered as a key factor that can bring the following to the company: higher profits, brand extension opportunities, protection against the competition leading to a strengthening of the consumers purchasing intentions and customer loyalty. Feelings generated by the brands are different from one brand to another and this becomes more evident when customers are emotionally connected only with a certain number of brands. These emotional connections with the brand reflect a specific connection with said brand and thus include feelings toward it which include: attraction, passion and consumer involvement with the brand. The level of customer involvement in this relationship depends on the consumers' perception of the brand as well as the importance that the product brings to the consumer. The power of a brand lies within the mindset of existing or potential customers and through what they have experienced directly or indirectly with the particular brand over a period of time. Brand relationships are not only the main aspects related to brand equity but also are key aspects of the buying process as well as indicators of brand loyalty. Brand relationships consist of thoughts, feelings, perceptions, images, experiences, beliefs and attitudes of consumers associated with the brand. Brand relationships can be described by some sub-dimensions such as values, personality, and organizational dimensions or some features of a company that gets incorporated within a brand and therefore identify a brand with the company itself Brand relationships represents a psychological connection with the brand stored in the consciousness of the consumer and also represents aspects of the dimensions referred to tangible or intangible such as attributes, lifestyle, usage etc.. The purpose of this paper is to study the relationship that exists between brand relationships and brand equity for the mobile-telephone brands included in the study. Furthermore it will also aim to identify the variables of brand relationships that are considered the most important to Albanian consumers and have significant impact on brand equity.