Facebook brand equity

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Facebook brand equity

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Title: Facebook brand equity
A study of how to utilize social media to improve brand equity
Author: Jensen, Thomas
Abstract: Executive summary: With the continuing focus on online media, in terms of marketing and the need for developing interactions and relations with consumers has proven more important than ever. Thus, many brands and companies desire to know how to utilize online- and social media in order to achieve additional value to the company. Furthermore the need for a how to measure the value of social media interactions is of high relevance for marketers in order to provide the rest of the organization with arguments for being present on social media. These issues were the main motivation for this thesis and research question and sub-questions: Through a deeper understanding of branding, brand equity and its measurements this thesis strives to examine what impact interaction between consumer and brand on social media has in terms of brand equity.  How can the impact of social media be measured in terms of brand equity?  What impact does social media marketing have on brand equity?  How can Toyota (better) utilize and implement Facebook activities locally in order to improve brand equity in the Danish market? In order to answer the research questions in a proper manner it proved to be necessary to develop a new framework, calle Facebook brand equity framework. The framework was inspired by the brand equity frameworks developed by Aaker (1996) and Christodoulides (2006). The framework is used to investigate and analyze how to measure and utilize brand equity through being present on Facebook. Other theories concerning omnipresence and U-space have also been integrated in the thesis as the concepts have significant impact on developing interaction and personalization through Facebook. Additionally, it has been proved that brand-consumer interaction on Facebook is a way for consumers to extend their sense of self and identity externally. To further validate the arguments and conclusions of the thesis, primary data from a web-based survey and a focus group interview is presented and analyzed, in order to provide the foundation for the recommendation for a successful Facebook strategy. The key conclusions from the analysis include tendencies of consumers’ desire for additional value in form of personalized and unique content. From the analysis and data the recommendations for a future Facebook strategy, best suited for Toyota, showed to be a four step strategy including, staying local, utilize memories and dreams, newsletter and implementing values and visions. If executed right Toyota has the opportunity of improving brand equity and converting it to additional value for the company.
URI: http://hdl.handle.net/10417/5194
Date: 2015-05-28
Pages: 113 s.
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