Abstract:
In a world of ever-rising competition between organizations, markets and brands, brand marketers are constantly searching for ways in which to enhance their portfolios to allow them to effectively reduce costs as well as remain successful in terms of profit. The most commonly adopted method is to create a new product under a new category and give it the name of the existing company brand. The brand equity of a product is built around its 'personality', which consists of several psycho graphic variables such as emotions associated with a perceived image of the brand as a whole. Brand equity differentiates one product from another in the minds of consumers when a customer reacts more in favor of the marketing mix activities of one brand as compared to those of another.
This thesis is based on previously designed frameworks and literature relevant to the industry and research, as well as a consumer survey to link real life information to conceptual knowledge and frameworks. This report is concluded with elaborated analysis of the results and findings of the research and relevant recommendations.
