A Study on Building Customer –Based Brand Equity: Application of Brand Equity Theory to Management Educational Institutions of Bengaluru, India

Abstract

The business landscape is constantly changing. Higher education is being reshaped by globalization and the digital revolution. There are growing pressures related to declining sources of income and mounting prices. There is heightened competition for share of the global student market. Institutions are seeing a lasting effect from the planetary financial crisis impacting both enrollment numbers and philanthropy, and students have increasing demands and prospects of their educational experience. Branding of education is gaining popularity with developing a wide assortment of private organizations, change in individuals' outlook toward education and varying scope for the unique course being provided. Education is a service, thus it's an experiential and elusive in nature, so branding in education should be according to "experience" and "employability" perspective. Trade name and quality of an education institution are interrelated criteria to attract the pupils. This present study researched the causal influences among the dimensions of Consumer-based brand equity within the perspective of the educational establishment. The conceptual framework of this inspection is basically in view of customer-based brand equity, also called as Brand Resonance Model, which fuses, six building blocks, to be specific brand salience, brand performance, brand imagery, brand judgment, brand feeling and brand resonance. Factor analysis was conducted on all items measuring the six building blocks and their outcomes were examined. The reliability test on all these factors produced satisfactory reliability coefficients. Correlation investigation was also carried out on the study variables and the outcomes suggest that there is a formidable, positive and significant relationship between brand performance and brand judgments, and brand judgment and brand feeling as well as between brand judgment and brand imagery. The regression results confirm that only brand judgment, brand imagery, and brand feeling have a decisivel impact on brand Resonance.

Keywords: Brand resonance, Brand equity, Education, Salience, Performance, Imagery