Discuss about the Asset Allocation and Audit Attributes.
The Audi is a German automobile manufacturer that design, engineers, market, produces and distributes the luxury vehicles. This brand is a member of the Volkswagen group and having the roots at Germany, Bavaria, Ingolstadt. The report talks about the brand analysis of the Audi, it includes the brand equity, brand resonance model, and the brand asset allocation. The paper also shows the assessment of the performance of the brand considering the BAV & BRANDZ models. Based on the overall analysis it shows the most suitable model that reflect the equity of the Audi.
Audi AG is a German company that was funded by the August Horch in the year 1910. The brand involves the manufacturing and the designing of the luxurious automobiles and the SUVs. Since the brand came into the existence it is serving the elite and technophiles groups. It has been focusing on the technology and the innovation. The logo of the brand is ‘4 rings’ that indicated the four autonomous motor-vehicle manufactures that include DKW, Audi, Horch, and Wanderer.
The brand quality refers to as the commercial value that derives from customer perception in regards to the brand name of particular service or product. The brand AUDI has been playing a significant role in the groups of brands. The brand service is available for the high and the middle-income people. The cars of the Audi brand are fulfilling the demand of the customers such as comfort, speed, and reliability which is improving the perception of the customer towards the brand (Gurhan-Canli, Hayran, and Sarial-Abi, 2016). The vehicles of Audi were able to achieve the hearts of the people with the help of the combination of the luxury speed and the affordability. This is the reason that the brand equity of the Audi is increasing because of the global subsidiary availability. This is making the customer aware of the services provided by the brand. The brand has formed the repair and the assembly points in major markets across the world so that they can make the car affordable for customers.
The brand resonance shows the relationship that the customer has with the product. Brand having the strong resonance will be able to get the benefit from the increased customer loyalty along with the decreased vulnerability (Huang, Yen, Liu, and Chang, 2014). Audi is filled with the quality in this model of resonance:
Brand Salience:- Brand sailence talks about the awareness of the brand, Audi has strong awareness after BMW.
Brand performance:- The Audi is continuously bringing the change in the performance. Audi is continuously bringing improvement in the performance of the products they are delivering (Tolba, and Hassan, 2009). The brand reduced the emission to break their own records with 24th Du Mands winner Audi R8. The brand introduced Quttro which is 4WD (four-wheel-drive-system). this technology was built by the brand to enhance the performance of the race car. Audi always comes up with new innovation and technology such as Audi TT Offroad concept, Audi TFSI engine technology.
Brand imagery:- Brand imagery is the aesthetic appearance of the brand’s core messaging. Sports and innovation is the brand imagery of audio. The brand products show that the brand is for the modern customer who is looking for the sporty automobiles (Varol, 2016). Audi is the successful brand in the eyes of the customers. it is the preference of the people who are looking for different and sporty cars (Magnusson, Krishnan, Westjohn, and Zdravkovic, 2014).
Brand judgments:- The judgment talks about the preference of the customer’s opinion and evaluation (Andehn, M., Andehn, L’Espoir Decosta, and L’Espoir Decosta, 2016). The customer believes that the brand is continuously improving the quality and it is able to regain the credibility after the 80s reputation. Design of the cars of the audio is becoming a strength of the brand as per customers.
Brand resonance:- The nature of the relationship that makes the customer feel that they are connected with the brand. Audi customers are engaged through social networks. The brand loyalty is relatively low due to the high competition but it is improving in last few years (Zarantonello, and Schmitt, 2013).
The brand assets allocation is the allocation fo the funds by the brand to get the maximum benefit in low risk. The company believes in investing the amount in the development of the technology and the innovation to get the best result that can be used by the brand to create the distinct value of the brand product (Raftery, 2014). The Audi brand investment is supporting the brand with the values of the Olympic games continues to pay off. The shared symbol of the Audi brand that is interconnecting rings, these rings provide a powerful vision link that strengthens the brand connection with the customers. The success of the brand models leads to the differentiated market propositions for Audi. The brand reflects a high level of association and the awareness of the visual properties.
The below model talks about the evaluation of brand equity which reflects the performance of the brand and the relation of the brand with their customers (Salamovska, and Todorovska, 2016).
BAV model is used by the companies to measure the brand equity of thousands of brand across the world (Tavassoli, Sorescu, and Chandy, 2014). It consists of the four categories that are used by to evaluate the brand equity of AUDI.
The brandz model is developed by the Milward Brown and WPP, which is the pyramid shape. The model shows the brand building of the company, it is also used to measure the performance of the company in terms of the brand (Ho-Dac, Carson, and Moore, 2013). It consists of the five parameters such as bonding, advantage, performance, relevance, and presence.
The above model is two different model which is used by the company for the evaluation of the brand equity of the company. This model speaks about the true picture of the company.
Conclusion
The report throws light on the brand quality of the Audi automobiles. The analysis of brand resonance model, BAV model, and the BRANDZ model is discussed which shows the brand relationship with the customers. A different model is used for the different purpose which is discussed in the report. Considering three model, according to me the brand resonance model is the most appropriate model that reflects the quality of the Audi brand. This model not only shows the relationship of the brand with the customers but it also shows the brand equity of the Audi. This model shows the six building blocks of the brand that talks about the brand equity of the company with the help of which company can easily evaluate the brand equity in one go.
References
Andehn, M., Andehn, M., L’Espoir Decosta, P. and L’Espoir Decosta, P., 2016. The variable nature of country-to-brand association and its impact on the strength of the country-of-origin effect. International Marketing Review, 33(6), pp.851-866.
Gurhan-Canli, Z., Hayran, C. and Sarial-Abi, G., 2016. Customer-based brand equity in a technologically fast-paced, connected, and constrained environment. AMS review, 6(1-2), pp.23-32.
Ho-Dac, N.N., Carson, S.J. and Moore, W.L., 2013. The effects of positive and negative online customer reviews: do brand strength and category maturity matter?. Journal of Marketing, 77(6), pp.37-53.
Huang, C.C., Yen, S.W., Liu, C.Y. and Chang, T.P., 2014. The relationship among brand equity, customer satisfaction, and brand resonance to repurchase intention of cultural and creative industries in Taiwan. International Journal of Organizational Innovation (Online), 6(3), p.106.
Magnusson, P., Krishnan, V., Westjohn, S.A. and Zdravkovic, S., 2014. The spillover effects of prototype brand transgressions on country image and related brands. Journal of International Marketing, 22(1), pp.21-38.
Raftery, A.M., 2014. The size, cost, asset allocation and audit attributes of Australian self-managed superannnuation funds (Doctoral dissertation).
Salamovska, S.M. and Todorovska, M., 2016. Brand Valuation and Marketing Assets Assessment–Theoretical Background vs. Contemporary Managerial Issues. strategic management, 21(4), pp.37-44.
Tavassoli, N.T., Sorescu, A. and Chandy, R., 2014, December. Employee-based brand equity: Why firms with strong brands pay their executives less. American Marketing Association.
Tolba, A.H. and Hassan, S.S., 2009. Linking customer-based brand equity with brand market performance: a managerial approach. Journal of Product & Brand Management, 18(5), pp.356-366.
Varol, S., 2016. Analyzing brand loyalty in automotive sector using the hidden Markov model and support vector machine. Lamar University-Beaumont.
Zarantonello, L. and Schmitt, B.H., 2013. The impact of event marketing on brand equity: The mediating roles of brand experience and brand attitude. International Journal of Advertising, 32(2), pp.255-280.
Zarantonello, L. and Schmitt, B.H., 2013. The impact of event marketing on brand equity: The mediating roles of brand experience and brand attitude. International Journal of Advertising, 32(2), pp.255-280.
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