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The study presents an audit model to evaluate Customer Based Brand Equity on Social Media Environments.The study aim is to describe brand and product related consumer created negative content in social media settings, specifically negative e-WOM, in order to monitor customer based brand equity by identifying motives of dissatisfaction or rejection articulated by consumers through media content in Social Networks. Further, the purpose of the study is to describe the relationship between negative e-WOM related to a product and the parent brand Corporate Brand Equity in order to monitor and identify areas of weakness in the corporate image, which in turn, will aid marketers in the design of new strategies directed to sustain brand equity in the virtual environment. The theoretical perspective of this study considers Strategic Brand Management and consumer Behaviour theories points of view. Moreover, the case study will analyse instances of consumer created negative eWOM related to the Apple iPhone on the page ‘We hate Iphone!!” of social network Facebook.