DE VERA, K. RIGOR, J. & TAYAG, J.
Brand is a name, sign, symbol, or design, or combination of these that identifies the maker or seller of a product or service . Although certain brands offers various product line and brand extensions, it does not mean that a brand is strong already. Note that years of existence do not also define a strong brand, rather to consider a brand a strong one the brand should have high brand equity; a clear brand positioning; and it must be competitive in the market. This study aims to assess one of the reputable apparel brands in the Philippines; Bench on its 25 years of existence.
Keywords: Brand Equity, Brand Positioning, Competition
IDENTIFYING A STRONG BRAND: AN ASSESSMENT
Bench was founded in the Philippines by Ben Chan in 1987 originally selling men’s t-shirt in small retail stores. The brand is registered under the trademark of Suyen Corporation. The brand also grew on providing ladies’ line, underwear, fragrances, house wares, snacks, and a wide array of other lifestyle products,
Kyle Marco P. de Vera, Justin Andrew Lawrence L. Rigor and Jolo Marco R. Tayag are junior students from the Department of Marketing and Corporate Communications in San Beda College AY: 2012-2013. The researchers have equally contributed to the fulfillment of the research with the help and advice of Dr. Jennifer T. Ramos.
with the distinction of being present in virtually every retail space in the Philippines, and with a worldwide network of stores and outlets, reaching as far as the United States, the Middle East, and China. It has also been a pioneer to the use of celebrity endorsers, television, and giant billboards to push for a fashion brand that offers premium quality products at affordable prices in the market. By multiple product line and brand extensions, Bench was able to go through demographic divisions such as age, gender, socioeconomic status having “Bench is forever” as the company’s article of faith. Emerging as a global brand, Bench has 610 stores worldwide, 67 internationally & 543 locally. (Adapted from Bench’s Website)
Growing globally resulted to creating new product lines and extensions of the Brand; known for being an apparel brand, Bench as a product-oriented company have evolved into being a market oriented brand not only selling clothes but also extending to the market’s needs in terms of lifestyle such as food and personal care. One of Bench’s promising extensions is Bench Fix, aside from the Fix salon, hair wax is also one of the commonly sought product today in their offerings.
Many companies or brand today have been adapting to the trends and needs of the society, by utilizing the brand that they have established in the market, they make their offerings relevant at the fast changing time. Product-line and brand extensions do not only create new markets but it is also one of the strategies in maximizing brand equity to survive in the competitive industry.
The intention of the study is to know whether Bench is a strong Brand, by assessing its brand equity, brand positioning and competitiveness in the market and eventually make realizations for other pioneered and extending brand entities. The researchers got interested with this particular study because they want to discover whether a local brand of apparel like Bench, can be a strong brand and if it can be as appealing as those of the foreign brands that Filipinos patronize.
Input Process Output
Figure 1.1 showed the three variables that have been assessed to know whether Bench is a strong brand, it can be measured through the independent variables, and these are the brand equity, the brand positioning and how Bench deals with the competition. The dependent variable is Bench being a strong brand because it has been the variable subject for result. The...
Bibliography: Abimbola, T. (2010). Brand Strategy as a Paradigm for Marketing Competitiveness. Journal of Brand Management .
Anana, E., & Nique, W. (2010). Perception-Based Analysis: an Innovative Approach for Brand Positioning Assessment. Database Marketing and Customer Startegy Management .
Armstrong, G., & Kotler, P. (2008). Principles of Marketing. New Jersey: Pearson Education Inc.
Balaji, M. S. (2011). Building Strong Service Brands: The Hierarchical Relationship Between Brand Equity Dimensions. The IUP Journal of Brand Management .
Bharadwaj, S. G., Tuli, K. R., & Bonfrer, A. (2011). The Impact of Brand Quality on Shareholder Wealth . Journal of Marketing .
Bick, G. N. (2009). Increasing Shareholder Value through Building Customer and Brand Equity. Journal of Marketing Management .
Chandrashekaran, M., Rotte, K., Tax, S. S., & Grewal, R. (2007). Satisfaction, Strength and Customer Loyalty. Journal of Marketing Research .
Chang, H. H., & Liu, Y. M. (2009). The Impact of Brand equity on Brand Preference and Purchase Intentions in Service Industries. The Service Industries Journal .
Chattopadhyay, T., Shivani, S., & Krishnan, M. (2010). Marketing Mix Elements Influencing Brand Equity and Brand Choice. VIKALPA .
Chirani, E., Taleghani, M., & Moghadam, N. E. (2012). Brand Performance and Brand Equity. Journal of Contemporary Research in Business .
Constangioara, A., & Florian, G. L. (2010). Consumer credit market in EU. Journal of Electrical and Electronics Engineering .
Das, S., Stenger, C., & Hills, C. H. (2009). Managing Tomorrow 's Brands: Moving from Measurement Towards an Integrated System of Brand Equity. Journal of Brand Management .
Fischer, M., Volckner, F., & Sattler, H. (2010). How Important are Brands? A Cross-Category, Cross-Country Study. Journal of Marketing Research .
Gill, M., & Dawra, J. (2010). Evaluating Aaker 's sources of Brand Equity and the Mediating role of Brand Image. Journal of Targeting, Measurement and Analysis for Marketing .
Ha, H.-Y., Janda, S., & Muthaly, S. (2010). Development of Brand Equity: Evaluation of Four Alternative Models. The Service Industries Journal .
Huang, M.-H. (2009). Using Service Quality to Enhance the Percieved Quality of Store Brands. Total Quality Management .
Kalauz, M. S., Vranesecvic, T., & Tartnik, M. (2010). The Clothing Brand Loyalty of Teenagers: Differences Between Loyalty and Desire to be Loyal. International Journal of Management Cases .
Kathuria, L. N., & Jit, B. (2009). An Empirical Study on Brand Awareness and the Factors Influencing Brand Loyalty Towards Hair Shampoos. The IUP Journal of Brand Management .
Lam, S. K., Aheame, M., Hu, Y., & Schillewaert, N. (2010). Resistance to Brand Switching When a Radically New Brand is Introduced: A Social Identity Theory Perspective. Journal of Marketing .
Mizik, N., & Jacobson, R. (2008). The Financial Value Impact of Perceptual Brand Atrributes. Journal of Marketing Research .
Moisescu, O. (2007). The Importance of Brand Awareness in Consumer 's Buying Decision and Perceived Risk Assessment. Cluj-Napoca: Babes-Boyai University of Cluj-Napoca.
Park, W. C., Maclinnis, D. J., Priester, J., Eisingerich, A. B., & Iacobucci, D. (2010). Brand Attachment and Brand Attitude Strength: Conceptual and Empirical Differentiation of Two Critical Brand Equity Drivers. Journal of Marketing .
Ramarao, B. (2009). Factors Influencing the Purchasing Decisions of Motor Bike Consumers: A Comparative Study of Popular Brands. The Icfaian Journal of Management Research .
Romaniuk, J., & Gaillard, E. (2007). The Relationship Between Unique Brand Associations, Brand Usage and Brand Performance: Analysis Across Eight Categories. Journal of Marketing Management .
Salmorin, M. E. (2006). Methods of Research. Manila: Mindshapers Co., Inc.
Schramm-Klein, H., Morschett, D., & Swoboda, B. (2008). Verticalization: the Impact of Channel Strategy on Product Brand Loyalty an the Role of Involvement in the Fashion Industry. Advances in Consumer Research .
Slotegraaf, R. J., & Paowels, K. (2008). The Impact of Brand Equity and Innovation on the Long-Term Effectiveness of Promotions. Journal of Marketing Research .
Sriram, S., Balachander, S., & Kalwani, M. (2007). Monitoring the Dynamics of Brand Equity Using Store-Level Data. Journal of Marketing .
Srivastava, R. K., & Thomas, G. M. (2010). Managing Brand Performance: Aligning Positioning, Execution and Experience . Journal of Brand Management .
Stahl, F., Heitman, M., Lehmann, D. R., & Nelsin, S. A. (2012). The Impact of Brand Equity on Customer Acquisition, Retention, and Profit Margin. Journal of Marketing .
Yan, R.-N., Ogle, J. O., & Hyllegard, K. H. (2010). The Impact of Message Appeal and Message Source on Generation Y Consumers ' Attitude and Purchase Intentions Toward Americal Apparel. Journal of Marketing Communications .
Yaseen, N., Tahira, M., Gulzar, A., & Anwar, A. (2011). Impact of Brand Awareness, Perceived Quality and Customer Loyalty on Brand Profitability and Purchase Intention: A Reseller 's View. Institute of Interdisciplinary Business Research .
Please join StudyMode to read the full document