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Figure 1: Elements of brand equity Source: Aaker and Joachimsthaler, 2000 cited in Nyatlo, 2018
2.1.1 BRAND AWARENESS

The first stage in creating a product brand is to raise brand awareness. Consumers' brand awareness refers to how they link a brand with
a certain product that they want to own (Suki, 2014). Brand awareness is defined by Aaker as "the ability of a potential consumer to
recognise and recall that a brand belongs to a specific product category." Brand awareness, according to Keller, relates to a consumer's
capacity to recall a brand from memory, such as when the product category or the demands met by the category are discussed. Brand
awareness is a crucial component of company equity since it refers to the strength of a brand's existence in the minds of consumers. Aaker
described several stages of brand awareness, from simple brand identification to domination, which refers to the situation in which
the brand in question is the only one that a consumer recalls (Jalilvand et al., 2011). In addition, brand awareness is defined as a consumer's
ability to recognise brands in a variety of situations, as demonstrated by their achievement of brand recognition or remembrance after
considering several alternative decision-making options. Next, according to Ekhveh & Darvishi, Kalogiannakis, and Papadakis, brand
awareness is linked to the information node in memory and brand awareness is defined by customers' ability to recognise a brand in a
variety of settings (Rukuni et al., 2020).

Both Aaker and Keller have given utmost importance to brand awareness. Aaker considered brand awareness as one of the most important
dimensions of brand equity in his study and Keller also considered brand awareness as one of the important components of brand
knowledge. Many researchers have used brand awareness as important dimension of brand equity in their studies and found a positive
impact of brand awareness on brand equity (Aaker, 1990; Keller, 1993; Yoo & Donthu, 2001; Netemeyera, et al., 2004 cited in Jindal,
2019). In addition, brand awareness generates WOM, which increases the likelihood of customers wanting to try a brand. According to a
Hoyer and Brown experiment, customers are more likely to base their purchasing decisions on brands they recognise (Kristel Eismann et
al., 2016). Brand awareness, it is safe to assume, has a significant impact on the consumer's decision-making process. Customers must
not only be able to recognise or recall a brand; they must also be able to link the brand to a certain product category (Kristel Eismann et
al., 2016).

2.1.2 BRAND ASSOCIATION

The emotional attachment a customer has to a particular brand is referred to as brand association. The information about what is on the
customer's mind about the brand, whether positive or negative, is linked to the brain memory node (Emariet al., 2012). Brand association
is a method of gathering data for the purposes of brand differentiation and extension (Osselaer and Janiszewski, 2001 cited in Suki, 2014).
A brand association is “anything linked in memory to a brand” (Aaker, 1991 cited in Jalilvand et al., 2011). In general, any brand
association information is linked to the brand name in the minds of customers and reflects the brand's image. The more brand associations
a product has, the more likely the buyer will remember and be loyal to it (Suki, 2014).

Brand associations may reflect product characteristics. According to Chen's (2001) brand association typology, the two most commonly
referred categories are product associations and organizational associations (Jalilvand et al., 2011). Furthermore, Aaker (1991) proposed
that brand associations could provide value to consumers by giving them a reason to buy the brand and by instilling positive
attitudes/feelings in them (Jalilvand et al., 2011). Having a well-positioned brand with clearly defined core qualities of a given product
class will assist the company in obtaining and keeping customers, and so act as a barrier to competitors (K Eismann et al., 2016). According
to Rio et al. (2001), brand associations are an important factor in the establishment and management of brand equity (Jalilvand et al.,
2011). In this sense, high brand equity indicates that customers have strong positive associations with the company (Jalilvand et al., 2011).

2.1.3 PERCEIVED QUALITY

Another essential aspect of brand equity is perceived quality. Perceived quality influences customer loyalty, which can also be used to
expand a brand. Quality perception is defined differently depending on the industry. Nonetheless, it is always a significant and quantifiable
brand attribute. Zeithaml (1988) defines quality perception as the customer's perception of the general quality of goods, and these
perceptions are influenced by the good's natural function in relation to competing possibilities (K Eismann et al., 2016). It is a competitive
requirement, and many companies have made customer-driven quality a strategic weapon. Customers are satisfied and valued when their
quality desires and preferences are consistently and profitably met. Kotler emphasises the significance of product and service quality are
customer satisfaction, and firm profitability (Jalilvand et al., 2011).

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