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brand equity to the users in this model of brand equity. That would be an advantage of this model. But the disadvantage of this model would be such that factors differentiated perform the following two functions: these factors are the background of brand identity; otherwise, they are the consequence of brand equity. .HOOHU%UDQGHTXLW\PRGHO Another disadvantage of model is such that brand image is not exactly distinguished as an element of the brand equity. Saving of brand and associations are the main two elements, related to the brand image. Also this model is not oriented to clear quantitative measurement estimators, i.e. attention is paid to psycho-graphical attitudes of users. 8QGHUVWDWHPHQWRI..HOOHUWKHEUDQG HTXLW\RULHQWHGWRWKHXVHULVFRQQHFWHGWRQRWRULHW\ RIWKHEUDQGDQGLVEDVHGRQFRPSDULVRQZLWKFRP PRGLW\WKDWLVQRWPDUNHGZLWKWKHEUDQGDQGEHORQ JLQJWRWKHVDPHFDWHJRU\RIJRRGV,WHPSKDVL]HVWKH EUDQG HTXLW\ DV D GLIIHUHQW LQÀ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ournal of Marketing9ROSS± ,QWKLVPRGHOWKHNQRZOHGJHDERXWWKHEUDQG FRQVLVW RI QRWRULHW\ RI WKH EUDQG DQG EUDQG LPDJH 1RWRULHW\RIWKHEUDQGFDQLQFOXGHUHFUHDWLRQRIWKH EUDQG ZLWKRXW KHOS RU LGHQWL¿FDWLRQ RI WKH EUDQG ZLWK KHOS7KH EUDQG LPDJH LV FUHDWHG FRQFHUQLQJ WKHDVVRFLDWLRQVZLWKWKHEUDQG.HOOHUFKDUDFWHUL]HV WKHVHDVVRFLDWLRQVDFFRUGLQJWRWKHLUW\SHDGYDQWDJHV VDWLVIDFWLRQ RI XVHUV DQG SRVLWLYH JHQHUDO LPDJH RI WKHEUDQGVWUHQJWKDQGXQLTXHQHVV'LIIHUHQFHVFDQ EHIRXQGEHWZHHQYDULRXVW\SHVRIDVVRFLDWLRQVVXFK DVIDYRUWRWKHEUDQGEHQH¿WRIWKHEUDQGDQGJHQH UDOLPDJH7KHIHDWXUHVRIWKHEUDQGLQFOXGHDOOIHDWX UHV UHODWHG WR FRPPRGLW\ HJ SULFH DQG SDFNDJH $FFRUGLQJWRWKHQHHGVRIXVHUVEHQH¿WRIWKHEUDQG WRWKHXVHUFDQEHIXQFWLRQDOHPRWLRQDORUV\PEROLF )LQDOO\WKHJHQHUDOEUDQGLPDJHZKLFKUHPDLQVLVLQ ÀXHQFHGE\WKHDSSURDFKHVRIWKHXVHUV Advantage of Keller model is analytical and conceptual description in which brand image and reaOL]DWLRQRIEUDQGDUHFOHDUO\LGHQWL¿HG%UDQGLPDJH in model is developed enough by spreading uniqueness, strength of associations and etc. However associations of brand image are related with psychographical characteristics of users and it is disadvantage, as each segment of model can be investigated in qualitative methods of research and general brand value is hardly received. ³,FHEHUJ´PRGHORIWKHEUDQGHTXLW\ 2QHPRUHEUDQGHTXLW\PRGHOLVVRFDOOHGÄLFH EHUJ³PRGHOVHH)LJXUHLQZKLFKDVVHWVRIEUDQG LQYLVLEOHVLGHDQGEUDQGLPDJHYLVLEOHVLGHDUHGLV WLQJXLVKHG 6KRUWWHUP %UDQGLPDJH %UDQGDZDUHQHVV 6XEMHFWLYHSHUFHSWLRQRI DGYHUWLVLQJSUHVVXUH 0HPRUDELOLW\RI DGYHUWLVLQJ %UDQGXQLTXHQHVV &ODULW\RILQWHUQDOLPDJH $WWUDFWLYHQHVVRILQWHUQDO LPDJH %UDQGDSSHDO 7UXVWLQEUDQG %UDQGOR\DOW\ /RQJWHUP %UDQGDVVHWV )LJ³,FHEHUJ´PRGHORIWKHEUDQGHTXLW\ 6RXUFH=LPPHUPDQQ5.OHLQ%|OWLQJ86DQGHU%0XUDG$JD7Brand Equity Review9RO %%'2*URXS'VVHOGRUI*HUPDQ\ 7KHEUDQGLPDJHFRQVLVWVRIEUDQGLGHQWLW\HOH PHQWVZKLFKDUHYLVLEOHWRXVHUVLHVKRUWWLPHPDU NHWLQJFRPSOH[PHDQVVXFKDVFRPPRGLW\RUGHVLJQ RISDFNDJHDGYHUWLVHPHQWSURPRWLRQ7KHLPDJHRI WKHEUDQGLVFUHDWHGIURPQRWRULHW\RIEUDQGVXEMHFWL YHSHUFHSWLRQPHPRUL]DWLRQRIDGYHUWLVHPHQWXQLTX HQHVVRIEUDQGFOHDUQHVVRILGHDDQGDWWUDFWLYHQHVV 6WUHQJWKRIWKHEUDQGZKLFKLVOLNHXQGHUZDWHUSDUW RI³LFHEHUJ´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ÀXHQFHWKHVXFFHVV RIWKHEUDQGRQO\WKURXJKWKHEUDQGLPDJH There are several disadvantages of this model: it is impossible to determine absolute brand value but only relative one, as some of aspects are problematic, e.g., it is hard with the new brands. Advantage – in this model the brand image as an element of brand equity is developed enough, even 6 related factors are distinguished. But some of factors (e.g., attractiveness of idea and clearness of idea) are very close to each other. %UDQGHTXLW\PRGHO%((6 Brand Equity Evaluation System %((6 RI IHUHGE\%%'2&RQVXOWLQJ*PE+LVDPRGHOFRP SRXQGHGRIVHYHUDOVWDJHVDVVLJQHGWRHYDOXDWLRQRI WKH EUDQGV FRQVLGHULQJ WKH GLIIHUHQFHV EHWZHHQ WKH EUDQFKHVRIHFRQRPLFV)LJXUH2QWKH¿UVWVWDJH PRGHOOHW¶VXVHQOLVWHLJKWIDFWRUVZKLFKLQÀXHQFHWKH EUDQGHTXLW\6DOHVRIWKHEUDQGDQGSRWHQWLDOLQFRPH DUHDOVRXVHGDVDIDFWRUWRGHFLGHDERXWWKHSRWHQWLD OLW\RIIXWXUHVDOHV 3URPRWLRQDO VXSSRUW RI WKH EUDQG LV LQFOXGHG LQWRWKHPRGHODVRQLQWHULQGXVWULDOEDVLVZKHQHVWL PDWLQJZKDWSDUWRISUR¿WWLOOWD[HVZDVDVVLJQHGWR DGYHUWLVHPHQW 7KHEUDQGLPDJHLQWKLVPRGHOLQFOXGHVDWWUDF WLYHQHVV RI WKH EUDQG WR WKH LQWHUHVWHG SHUVRQV DQG LV HYDOXDWHG ZLGHU WKDQ LQ HDUOLHU DQDO\]HG PRGHOV 7KHODVWLQÀXHQFLQJIDFWRULVWKHSUR¿WWLOOWD[HVRIWKH EUDQGGXULQJWKHODVWWKUHH\HDUV,W¶VDIDFWRULOOXVWUD WLQJWKHSRWHQWLDORIEUDQGHTXLW\ %UDQGVDOHVSHUIRUPDQFHDQG SRWHQWLDO %UDQGHDUQLQJVEHIRUH WD[HV %UDQGQHWRSHUDWLQJPDUJLQ %UDQG¶VGHYHORSPHQW SURVSHFWV %%'2 %((6 ,QWHUQDWLRQDO RULHQWDWLRQRIWKHEUDQG %UDQGLPDJH %UDQG¶VVWUHQJWKZLWKLQLWV LQGXVWU\ $GYHUWLVLQJVXSSRUWIRUWKH EUDQG )LJ%%'2EUDQGHTXLW\PHDVXULQJ=LPPHUPDQQHWDO 6RXUFH=LPPHUPDQQ5.OHLQ%|OWLQJ86DQGHU%0XUDG$JD7Brand Equity Review9RO %%'2*URXS'VVHOGRUI*HUPDQ\ The advantage of this model is such that the difference between of the branches of economics is revealed in it. It is very important when we talk about the usage of advertisement in promotion of the brand: advertisement is very dependent on the branch of ecoQRPLFVDQGLILWZHUHQRWFRQVLGHUHGWRWKDWWKH¿QDO result would be much distorted. Detailed selection of factors relevant to the brand equity is typical to this model. One more advantage of this model – variables oriented to the future are used in it. That enables us to consider and determine opportunities of the brand development. Finally, BEES brand equity measurement procedure is not complex and quite economic, as the data necessary for calculations usually are obtained quite easily. The main disadvantage of this model is such that BEES can evaluate only corporation brands. However model can be applied in so that it would be possible to evaluate other brands with it as well. 6HPLRQEUDQGHTXLW\PHDVXUHPHQWPRGHO 7KHXVDEOHSemion Brand Broker GmbH EUDQG HYDOXDWLRQV\VWHP±RQHPRUHPRGHOZKLFKFRQVLGHUV QRWRQO\¿QDQFLDOYDOXHVEXWGDWDDERXWEHKDYLRUDQG LPDJHDVZHOO6HPLRQGH¿QHVIRXUIDFWRUVWKDWLQÀX HQFHWKHEUDQGHTXLW\DQGWKHOHYHORIZKLFKLVLQÀX HQFHGE\LQGH[HVLQWXUQVHH)LJXUH 7KRVHLQÀXHQFLQJIDFWRUVDUHWKHIROORZLQJ±¿ QDQFLDOYDOXHRIWKHFRPSDQ\VWUHQJWKRIWKHEUDQG EUDQGSURWHFWLRQDQGEUDQGLPDJH )LQDQFLDOYDOXHRI FRPSDQ\ (DUQLQJVEHIRUHWD[HV (DUQLQJVWUHQG %UDQGVWUHQJWK 0DUNHWVKDUH 0DUNHWLQIOXHQFH 0DUNHWLQJDFWLYLWLHV 'LVWULEXWLRQUDWH 'HJUHHRIIDPLOLDULW\ ,GHQWLW\DQGSRWHQWLDO 6HPLRQ %UDQG9DOXH %UDQGSURWHFWLRQV 3URGXFWFODVVLILFDWLRQ %UDQGHQYLURQPHQW ,QWHUQSURWHFWLRQ %UDQGLPDJH &RQVXPHUDVVRFLDWLRQV ,PDJHSRVLWLRQRQPDUNHW DPRQJFRQVXPHUDQGYLVj YLVSURGXFW )LJ6HPLRQEUDQGHTXLW\PHDVXUHPHQWPRGHO 6RXUFH=LPPHUPDQQ5.OHLQ%|OWLQJ86DQGHU%0XUDG$JD7Brand Equity Review9RO %%'2*URXS'VVHOGRUI*HUPDQ\ Summarizing this model it is possible to declare that there is a lot of subjectivity in it, as neither seOHFWLRQRILQÀXHQFLQJIDFWRUVQRUVHSDUDWHVHWWLQJRI ZHLJKWHGFRHI¿FLHQWVDUHGHWHUPLQHGLQLWLHHVVHQ tial disadvantages of model). One more disadvantage of this model – there is not projection to future; there are no features of development potential and aspects of brand remaining in it. At last it is possible to state that creation of basic factors of brand image is a task requiring a lot of efforts. As advantage of model we can present the fact that brand image is analyzed in wider context, i.e. comparative aspect of users’ opinions, emotions is arisen. %HNPHLHU)HXHUKDKQEUDQGHYDOXDWLRQ 6%HNPHLHU)HXHUKDKQ=LPPHUPDQQ PRGHO ± PDUNHWRULHQWHG EUDQG HYDOXDWLRQ V\VWHP FRPELQLQJWKHSHUVSHFWLYHRIWKHXVHUZLWKWKHSHU VSHFWLYHRIWKHFRPSDQ\6%HNPHLHU)HXHUKDKQPR GHOLVEDVHGRQDSUHVXPSWLRQWKDWWKHEUDQGHTXLW\ DULVHVIURPWKHVWUHQJWKRIWKHEUDQGDQGLQFRPHUHFHL YHGIURPWKHEUDQG±WKHVHERWKLQGH[HVDUHHYDOXDWHG DFFRUGLQJWRWKHSULFHVRIWKHPDUNHW)LJXUH $FFHSWDQFHRI SUHPLXPSULFLQJ $FFHVVLELOLW\ 8QLTXHQHVV 3LFWRULDOEUDQG NQRZOHGJH $FFHSWDQFHRIEUDQG H[WHQVLRQV ,QWHQVLW\ 5HVSRQVHWRPDUNHWLQJ 4XDOLW\ %UDQGVWUHJKW 3XOOHIIHFWV 4XDOLW\ ,QWHQVLW\ 9HUEDOEUDQG NQRZOHGJH %UDQGOR\MDOW\ )XWXUHSURVSHFWVIRUP EUDQG $FFHVVLELOLW\ )LJ%HNPHLHU)HXHUKDKQµVPDUNHWRULHQWHGEUDQGHTXLW\PHDVXUHPHQW 6RXUFH=LPPHUPDQQ5.OHLQ%|OWLQJ86DQGHU%0XUDG$JD7Brand Equity Review9RO %%'2*URXS'VVHOGRUI*HUPDQ\ Enough attention in model is paid to the element of the brand image which is analyzed in two levels: verbal and visual notoriety of the brand are distinguished. 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