Consumer-Based Brand Equity of the Six Largest Pickup Truck Brands in the United States of America
Forhan, Benjamin C.
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One of the biggest goals of marketing is to differentiate a product or brand from similar products and brands in order to out-sell competitors. To do this, companies must build brand equity through strategic marketing. Brand equity is increasingly important for corporations to differentiate themselves from other corporations. Companies allocate countless time and money to increasing and improving their brand's equity. First, through a review of academic literature, this paper examines brand equity and how it is measured. This paper then explores consumer based brand equity of pickup truck brands in the United States. Ford, GMC, Chevrolet, RAM, Toyota, and Nissan are the six largest pickup truck brands in the United States in terms of market share. They are in a constant battle with each other to win larger market share. In order to achieve this, they must convince potential consumers their truck is the best. To measure "best", consumer-based brand equity is broken down into brand awareness, brand loyalty, brand associations, and perceived quality. Each of the aforementioned pickup truck brands markets in different ways to differentiate themselves from the other brands. This paper intends to measure consumer based brand equity for each brand to determine its strengths and weaknesses of each brand.
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