CHAPTER SEVENTEEN
Copyright Š 2006 from Creating Images and the Psychology of Marketing Communication by Lynn R. Kahle and Chung-Hyun Kim. Reproduced by permission of Taylor and Francis Group, LLC, a division of Informa plc.
Values, Brands, and Image Woo-Sung Kim Youngsan University, S. Korea
David M. Boush, Adam Marquardt, and Lynn R. Kahle Unil'ersity of Oregon
Recently brands have received increased interest and attention from managers, consumers, and researchers. A brand has been considered as one of the most powerful assets that a company has (D. Aaker, 1996). The power of a brand comes from many sources, such as overall quality, brand loyalty, brand awareness, brand image, and personal values associated with a brand (Keller, 1998). Schmitt ( 1999) suggested three new marketing trends: a) the omnipresence of information technology, b) the supremacy of the brand, and c) the ubiquity of integrated communications and entertainment. In these important trends, the focus should be on brands, consumers, the relationship between a brand and a consumer, overall brand image, fulfillment of consumer needs and wants. personal values, and the synergy of promotional tools. A brand and a product are different. According to Kotler (2003), a product is anything that can be offered to a market to satisfy a need or want. A product can be a physical good, service, retail store, person, place, or an idea. According to the American Marketing Association (AMA), a brand is a name, a term, a sign, a symbol, a design, or a combination of them, intended to identify the product of one seller and to differentiate it from those products of the competition. In modern marketing, a brand is treated as a complex idea, including symbolic and psychosocial meaning that con~~~ers assign to a brand, and can be described as a network of interconnected concepts manifesting in the consumer's mind. A brand can be related to attributes, benefits, values, culture, personality, and users (Kotler, 2003). In contrast to a product, a brand cannot be easily duplicated by competitors, and a well-managed brand can seemingly take on a life of its own. The power of a brand is often expressed by brand equity. Brand equity is defined in terms of a net asset (D. Aaker, 1991) or the differential effect of brand knowledge 279