The brand equity of a company is the strength and worth a company holds. It depends on consumer attitudes about brand’s positive attributes and consequences of brand use. Brand equity has following five components with which we can measure it:
Brand Awareness
Reebok is the global footwear and apparel company which uses various promotional techniques for its brand awareness. It offers discounts, vouchers, custom sneakers and giveaways of products during the promotional campaigns. Reebok inaugurated a Reebok Human Rights Award and also sponsored some music concerts. Apart from this, it uses online advertising, TV ads, billboards, and magazines too.Reebok increased brand awareness through unique marketing strategies which makes it superior to its competitors. It is the official sponsor for ICC, UFC, Les Mills, CrossFit and Spartan Race. Reebok has made sponsorship
Brand Association
Reebok has been associated with its customers so positively that it is rooted in the customer’s mind. It introduced a Global Corporate Citizenship program with the intention to help the underserved and deprived youth globally. It also dedicated $80 million to an innovative television campaign, in which the people exhibited themselves in different ways while wearing Reeboks. Reebok also operates the Build Our Kids’ Success (BOK) plan to provide US school children with various entertainment activities.
Reebok wisely chooses the high profile celebrities like 50 Cent, Shakira, Jay-Z, Kelly, Yao Ming, MS Dhoni, Scarlett Johansson, Stevie Williams, who are not only known globally for their talents, but also for their fashion sense. This type of advertising is done to gain the recognition and promotion of their products.
Perceived Quality
Reebok believes that every person is different. They imprint the creativity on their products, keeping every individual style in mind. Reebok has segmented its market according to its consumer’s needs. It offers unique product range for every group and always comes up with a new variety.In 2009, Reebok launched a new range of shoes especially for busy women who can’t go to the gym. It also introduced an underfoot cushioning technology for athletes in 2009. Reebok’s consumers have a great belief in the brand and its quality.
Brand Loyalty
Reebok has been contributing, with elegance and style, in the walk to the success of every individual. Right after its launch, it became the preference of people and topped the sales in the 1980s which later got tripled. It obtained the status of most valuable brands in sportsIn 2017, this company acquired a brand value of $0.8 billion. Understanding the versatility and lifestyle potential of fitness, Reebok presents customers with the creative products and motivations.
Other brand proprietary assets
Reebok, a subsidiary of Adidas, has patents and trademarks to maintain its customer base. The Reebok segment comprises of Reebok brand, Reebok-CCM Hockey, Weeboks, CrossFit, and Rockport. It also sells products under various brands like Reebok, Greg Norman, Jofa, Ralph Lauren, etc.