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Effective Brand Building in Metaverse Platform: Consumer-Based Brand Equity in a Virtual World (CBBE)
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Author(s): S. Catherine (SRM Institute of Science and Technology, India), V. Kiruthiga (SRM Institute of Science and Technology, India), Suresh N. V. (ASET College of Science and Technology, India)and Reena Gabriel (SRM Institute of Science and Technology, India)
Copyright: 2024
Pages: 10
Source title:
Omnichannel Approach to Co-Creating Customer Experiences Through Metaverse Platforms
Source Author(s)/Editor(s): Babita Singla (Chitkara Business School, Chitkara University, Punjab, India), Kumar Shalender (Chitkara Business School, Chitkara University, India)and Nripendra Singh (Pennsylvania Western University, USA)
DOI: 10.4018/979-8-3693-1866-9.ch004
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Abstract
Brand equity is one of the prime and strategic assets for most contemporary business organizations. Companies are focusing on novel and innovative ways in order to build brand equity. Brand experience is one such construct that can be used by marketing managers in building and managing brand equity. Only a few studies have explored the relationship between brand experience and brand equity, particularly in the online shopping industry. The fear of missing out on opportunities in the metaverse is a driving force for many brands. It is essential to approach this emerging space with a long-term, ethical, and collaborative strategy. The long-term impact of consumers and managers need to explore opportunities aligning with their business. Brands are living entities that drive business organizations in modern times. This chapter explains about the four dimensions of brand experience (sensory, affective, behavioural, and intellectual) have a positive influence on all four dimensions of brand equity (brand awareness, brand association, perceived quality, brand loyalty).
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