ANALYZING FACTORS THAT INFLUENCE BRAND RESONANCE AMONG ALUMNI (AS PAST CUSTOMERS) TO DEVELOP BRAND EQUITY FOR HIGHER EDUCATION BRANDS
- LanguageENG
- URLhttp://db.koreascholar.com/Article/Detail/350871
p.385
In branding literature, the customer based brand equity (CBBE) model developed by Kevin Lane Keller finds many applications. The CBBE model (Keller, 1993) involves six brand building blocks out of which the brand resonance block is considered to be the most valuable helping firms to reap a host of benefits like higher brand loyalty, greater price premiums and more efficient and effective marketing programs. This research focuses on the factors that influence brand resonance among past customers (alumni) with the objective of building competitive and innovative service strategies that would help in building strong educational brands. The proposed framework for brand resonance includes existing sub dimensions (behavioral loyalty, attitudinal attachment, sense of community and active engagement) along with two additional dimensions (sense of belonging and gratitude) and aims to identify the key drivers of brand resonance. Since brand resonance characterizes the bond shared by past consumers (alumni) with the brand (educational institute) identifying the significant sub dimensions would provide input while devising strategies to engage with past customers (alumni). The present study provides initial empirical evidence that behavioural loyalty and sense of community create feelings of gratitude which impacts brand resonance; alumni who do not have strong feelings of gratitude limit their interaction with their alma mater on all parameters. Since higher education is an experiential service, it is imperative to understand the construct of gratitude that creates brand resonance and use it to develop relationships and competitive service strategies. The ultimate objective of all marketing activity is to build strong and well differentiated brands that would stand the test of competitive forces over time. Building emotional relationships with alumni as past customers rather than maintaining transactional relationships would be possible only if alumni feel emotions of gratitude and sense of belonging with their alma mater.