Essay: Main Source of Brand Equity
Brand is a name that is associated to a product or a service, which is well known into the market and the customers have their complete faith in the Brand (Smith, 2010). Brand equity on the other hand is actually an intangible asset, which explains all the elements that makes a brand look stronger and superior in the sight of the target audience (Kotler, 2009).
The main source of Brand equity for Virgin Blue airline is that it is associated with the Virgin group which is known out to be one of the richest Brand name in the existing times. With the name Virgin attached to the airline makes it look superior and unique to the customers and eliminates all the factors from their mind that makes them think that the airline is just like any other low fare airline.
The other major sources of Brand Equity for Virgin Blue is that the Airline has strong collaboration with the finest airlines of the world and due to which it offers almost all the destinations to its customers making them travel to their destinations in very nominal fare charges. The airline also has one of the best system that keeps its customers informed about the new offers that can be availed and further more the customers that are to travel in the flights are treated in an elegant manner before and during the flight.
Brand equity of Virgin Blue gets further improvements with the number of people increasing in to travel with the airline. Annual reports of the airline clearly show that due to customer satisfaction, the revenue stream has been broadened up for the airline. With profits being generated by the airline itself on yearly basis, the target audience perceive that the airline has been going on to the right track and become brand loyal which further increases airline’s revenue and brand equity.
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