Brand Experience and Brand Equity

Abstract

Brands are considered as of one of the strategic and valuable assets which drive business organizations in modern times. The increasing competition in the business environment, commoditization of products and rise of informed customers in contemporary times has compelled businesses to focus on hedonic attributes in their product offerings. The scope of experiential marketing goes beyond the traditional marketing as it adds hedonic character to the marketing activity. Brand experience is one such construct which is crucial for organizations and research has shown its influence on brand equity. Thus companies pay significant attention in generating pleasing brand experiences for their customers. For businesses to stay relevant in modern times, they need to pay attention to each aspect of the brand experience for a better brand value. Brand experience provides businesses with multiple opportunities using multiple customer-brand interaction for an enjoyable experience for their customers. This paper has critically analyzed both brand experience and brand equity in the existing literature. And at the same time, relationship between these two constructs is discussed which will provide important directions for future researchers in this domain. This research paper provides valuable insights for marketing managers on the importance of delivering pleasing brand experiences for their customers for a stronger brand equity.