Qn 1) Explain what is Levi's brand image and what makes up its brand equity. In this regard, assess the role of its flagship 501 jeans product. (40 marks)
Brand image can be defined as perceptions about a brand as reflected by the brand associations held in consumer memory. It is basically what exists in the mind of consumers, total of all the information they have received about the brand from experience, word of mouth, advertising, packaging, services etc. And the information is modified by selective perception, previous beliefs, and social norms.
The brand image perceived by consumers of Levi's products includes durable, comfortable, approachable, affordable, contemporary, individuality, independence, casual, fashionable and adventurous, when it became an indispensable part of miner's uniform and gain reputation for being as tough and rugged as the people who wore them. It is also comfortable enough to fit into the workers everyday lives both in physical and social sense.
Its affordability was also adored by students and miners. It has also become an essential commodity available to defense worker during WWII.
It portrays individuality, fashionable, independence when students and teenage idol wear 501 as a form of self expression and has become the essential fashion for the emerging baby boomers where it has transforms from a pair of tough pants to a symbol of freedom, adventure and independence.
Most importantly, Levi's 501 jeans had become an icon and its brand name had become synonymous with jeans where people tend to associate jeans whenever they saw the Levi's logo. It had successfully been made known to millions of Americans and had established its brand image in the hearts of every consumer.
Brand equity was defines as "the value of a brand based on the extent to which it has high brand loyalty, name awareness, perceived...